BofA slashed AFS Treasuries holdings by 36% in Q1

- Lorenzo Migliorato
- 24 Apr 2023

Bank of America slashed $58 billion of US Treasuries held in its available-for-sale (AFS) portfolio in the first quarter, among top US dealers’ biggest bid yet to cauterise mark-to-market losses on bond holdings.

Holdings of Treasuries, when measured at amortised cost, fell 36% from end-December to $102.9 billion. The overall AFS book shrank 26% to $166.3 billion.

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