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Bank of America Corp (NYSE:BAC): Current Price $11.55
Bank of America Corp (NYSE:BAC) is to shift more than $50 billion of its derivatives business from out of its Dublin operations and into its subsidiary in the United Kingdom as a part of its drive to rationalise and simplify operations as well as take advantage of the subsidiary’s $8 billion pile of tax-deferred assets. The Irish are not expected to complain, given their reported discomfort with the scale of the derivatives operations, which Bank of America routed through Ireland to take advantage of the country’s low tax rates.
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