November 8, 2023 (NO COMMENTS)

Bank of America’s one-day value-at-risk ebbed to the lowest level since the eve of the Covid-19 pandemic in the third quarter, putting the bank at the head of a general retrenchment in trading risk by top US dealers. BofA’s management trading VAR – an estimate of the most the bank’s trading desk could lose on any given day on its trading and other fair-value positions – averaged $77 million during the period, down 5% from the second quarter and the lowest since Q1 2020. // The gauge fell