Bank of America’s cash holdings

Bank of America Corporation (BAC)

PERIOD ENDING 30-Sep-09 30-Jun-09 31-Mar-09 31-Dec-08
Assets
Current Assets
Cash And Cash Equivalents 824,748,000 166,076,000 197,407,000 42,427,000

The above data from BAC’s most recent quarterly financial statements shows that cash increased 20x by September from the December previous. That’s $825 billion in cash.  It is likely to be largely excess reserves sitting at the FRB .  Banks are being paid interest on excess reserves by the FRB.

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