Bank of America shifts mortgage bonds into holding pen

Lorenzo Migliorato
15 Apr 2020

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Faced with an avalanche of deposits, Bank of America shuffled its mortgage-backed securities (MBS) portfolio in Q1 to better match assets to liabilities and optimise capital.

The bank moved $44.4 billion of MBS out of its available-for-sale (AFS) book, used to house liquid assets for its own needs, into its held-to-maturity (HTM) portfolio, which is for instruments that are to be carried to term. It also pulled $5.2 billion of debt out of its trading book and placed it in the AFS portfolio.

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