Bullish Investors Pile Into Rising Market Shares, Says Financial Institution Of America Survey
Before I cross the call to Paul to evaluate the fourth quarter, I wish to hit a couple of points. First, I want to provide some brief commentary on 2020 for the complete 12 months, then talk about what we see within the economic system as we enter 2021. Good day, everybody, and welcome to today’s Bank of America fourth-quarter earnings bulletins conference name. At this time, all individuals are on a pay attention-only mode. Later you may have the chance to ask questions through the question-and-reply session. Please note, at present’s name is being recorded and it is now my pleasure to turn the convention over to Lee McEntire.
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I would use a lack of round $200 million per quarter with a bigger loss in the fourth quarter. That’s a significant type of tailwind if — if mortgage-back — if mortgage rates improve. I may probably provide you with some sense of how much, what p.c of the advance is from that. But I don’t — I just do not have it off the top of my head. I understand you’re asking — I understand you are asking for the greenback quantity and I’m not — I’m not going to provide the greenback quantity.
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And so, when that comes down over time, you may — you may see the reserve releases come away from that. The second factor is, because the duration of the rest of the disaster is available in, with extra certainty, i.e. more people vaccinated, you may additionally see the lifetime calculation include the opposite side of the river to bigger — larger portion, and so that can drive it. But it’s what gives you the confidence of where the path is. But most significantly, as you think about real reserve setting and lifetime reserves, is that the — the financial assumptions are clarifying and the end of the COVID period is clarifying with the vaccine. And as we see that, you may see the uncertainty come down fairly rapidly on the opposite side of that, when that reveals up in our assumption.
So you saw this morning to be ending that in a separate press release that our board has accredited share repurchase in the first quarter of up to $3.2 billion, including shares issued to employees. This is in addition to maintaining our quarterly dividend of $0.18 per quarter, and that accounts for the return of another $1.6 billion of capital. This is the maximum allowed on the Fed’s tips established for first — the first quarter .