Economics Homework Help

Go to the FDIC’s website at www.fdic.gov (Links to an external site.). Find the most recent Balance Sheet and Income Statement for Bank of America using the following steps. Search the website for the Statistics of Depository Institutions (or click –> https://www7.fdic.gov/idasp/advSearchLanding.asp (Links to an external site.)). Type in Bank of America in the Institution Name box, and click ‘Search.’ Ensure you click on the correct Bank of America (name listed as: Bank of America, National Association, city: Charlotte. Click on the Cert (designation): 3510. Under ‘ID Report Selections:’ select the financial statement for ‘Assets and Liabilities’ and then ‘Income and Expense.’ This will download the most recent Balance Sheet and Income Statement for Bank of America.

Use the spreadsheet below to compare and contrast the relevant data for Bank of America to answer the questions below:

1. What is the most recent value of deposits for Bank of America? How has this changed from the spreadsheet below (compare and contrast)?

2. What is the most recent value of total interest income for Bank of America? How has this changed from the data in the spreadsheet (compare and contrast)?

3. From the most recent balance sheet and income statement (from the website), calculate the interest income, noninterest income, provision from loan loss, and tax ratios. Which ratio has changed the most since the data reported in the spreadsheet?