BofA slashed AFS Treasuries holdings by 36% in Q1
Partial sale of securities portfolio crystallises $200 million of paper losses
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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