Bank of America (BAC) swung to a profit in the second quarter largely by slashing expenses and releasing reserves, but the nation's second-largest bank remains hobbled by continued repurchase requests on soured loans.

In a conference call Wednesday, Brian Moynihan, B of A's chief executive, faced repeated questions about whether the company has set aside enough reserves to cover a 40% jump in repurchase claims from the first quarter, to $22.7 billion.

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