BofA Held-to-Maturity Losses Decline

A year-end Treasury rally helped Bank of America reduce the losses in its "held-to-maturity" portfolio. The former get marked to market, while the latter are assumed to be carried until they mature and don’t need to be updated to reflect market gyrations. Bank of America suffered losses of $97.994 billion on a portfolio of held-to-maturity securities of $594.591 billion in the fourth quarter, down from losses of $131.604 billion on a portfolio of $603.365 billion in the third quarter.