The proposal was part of a series of options provided to the Fed, including issuing a tracking stock for its Merrill Lynch operations. The fact that the bank proposed selling branches doesn't mean it's a desirable move or highly probable, the person said.
Bank of America Chief Executive Officer Brian Moynihan has been under pressure to raise capital to absorb mortgage-related losses and meet new international standards. The second largest U.S. bank received government bailouts during the financial crisis and emerged as one of weaker institutions in its aftermath.
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