Merrill Lynch & Co. Inc. reported a fourth-quarter loss 3.5% higher than what Bank of America Corp. had projected last month.
The New York investment bank, which B of A bought Jan. 1, lost $15.84 billion, according to its annual filing with the Securities and Exchange Commission. B of A had estimated in a Jan. 16 earnings conference call that Merrill would post a loss of $15.31 billion. B of A lost $1.79 billion in the quarter. Merrill reported a full-year loss of $27.6 billion.