* Restatement reflects $20.3 bln goodwill adjustment
* Amendment does not affect BofA results, capital positions
Feb 21 Bank of America Corp , the largest
U.S. bank, said it amended previously filed call reports for
2009 and 2010 for its FIA Card Services unit to reflect a $20.3
billion goodwill adjustment.
The move does not affect the banking giant's current or
previously reported consolidated financial results and capital
positions, it said in a statement.
The restatement involves a non-cash, non-tax deductible
charge related to the goodwill impairment at FIA, which has now
been recorded for the unit for the first half of 2009.
The goodwill writedown was caused by deteriorating credit
quality and the adverse impact from the CARD Act on Bank of
America's credit card operations in 2009, the lender said.
Included in the amended call reports is the reversal of a
$10.4 billion writedown of goodwill at FIA during 2010.
Bank of America had previously recorded the impairment in
the carrying value of goodwill at Global Card Services in the
third quarter of 2010 following the Dodd-Frank financial reform
regulation, which called for debit card fee limits.
FIA's credit card operations are part of Global Card
Services, the business segment which also includes among other
activities, the debit card business of Bank of America.
In July, Bank of America said it could lose $1.8-$2.3
billion of annual revenue from debit card fee limits.
The restatement, which resulted from changes to processes
covering legal entities implemented in 2010, covers eight
quarterly periods of 2009 and 2010.
The FIA adjustment was identified by Bank of America and
reported to banking regulators, the company said.
(Reporting by Saqib Iqbal Ahmed and Brenton Cordeiro in