WASHINGTON — Bank of America Corp. is expected to announce Friday that it will receive $15 billion from the Treasury Department's Troubled Asset Relief Program, sources said Thursday.
The capital infusion comes on top of the $25 billion Bank of America was awarded in October, including $10 billion that went to Merrill Lynch & Co. Inc. which the bank acquired.
The capital infusion is meant to help cover losses on assets the Charlotte-based bank inherited from Merrill.
The announcement is expected to be made when Bank of America issues its fourth-quarter results, an announcement it moved up from Jan. 20.
Treasury would not comment Thursday and a representative for B of A was not immediately available.