Bank of America Corp. Chief Executive Officer Brian T. Moynihan won permission last month for the firm’s first dividend increase since the financial crisis. Now he’s under pressure to salvage the payout after the company mistakenly inflated capital levels by about $4 billion.
For the first time since before the credit crisis, bond buyers are demonstrating more confidence in the U.S. banking system than in industrial companies as lenders fortify balance sheets while firms from Verizon Communications Inc. to Apple Inc. borrow record amounts.
Banks around the world are stepping up bond sales, with lenders from Bank of America Corp. to Goldman Sachs Group Inc. accounting for the biggest share of dollar-denominated investment-grade deals in two years.
MetLife Inc. , the insurer buying a non-U.S. unit from American International Group Inc., said earnings per share will be lower than previously forecast after it boosted the size of a stock sale to fund the deal.