Bank of America(BAC)2025-02-25 22:07Employee Engagement and Compensation - The Corporation employed approximately 213,000 employees as of December 31, 2024, with 78% located in the U.S.[15] - Compensation and benefits expense for the Corporation was 24 per hour in October 2024, with a goal of reaching 50,000 for the 12th consecutive year[24] - The Corporation's commitment to equal pay for equal work is reinforced by third-party reviews overseen by the Board[22] Regulatory Compliance and Financial Stability - The FDIC's Deposit Insurance Fund (DIF) ratio is currently below the statutory minimum of 1.35% and the long-term goal of 2%[37] - In October 2022, the FDIC adopted a restoration plan that includes a 2 basis points increase in deposit insurance assessments across the industry[37] - The Corporation's stress capital buffer (SCB) increased to 3.2% based on the results of the 2024 Comprehensive Capital Analysis and Review (CCAR) stress test[41] - The Corporation's global systemically important bank (G-SIB) surcharge increased to 3.0% on January 1, 2024[41] - As of June 30, 2024, the Corporation held greater than 10% of the total amount of deposits of insured depository institutions in the U.S.[58] - The Corporation's liabilities did not exceed 10% of the total liabilities of all financial institutions in the U.S. as of June 30, 2024[59] - The Volcker Rule restricts banking entities from engaging in short-term proprietary trading and imposes limits on investments in hedge funds and private equity funds[60] - The Corporation is subject to extensive regulation and oversight by federal and state regulators regarding consumer finance laws[63] - The Corporation is required to submit a resolution plan every two years due to its status as a bank holding company with assets greater than $250 billion[45] - The FDIC may be appointed receiver of an insured depository institution if it is insolvent, allowing for an orderly liquidation under certain circumstances[53]