Bank of America: Volatile market to hurt quarterly results

NEW YORK (Reuters) - Bank of America Corp (BAC.N) expects recent volatility in capital and credit markets to have a "meaningful impact" on third-quarter results at its corporate and investment bank, Chief Financial Officer Joe Price said on Monday.

Speaking at an investment conference sponsored by the bank, Price said results are being hurt as investors ascribe greater risk to a variety of loans and securities once considered safer, including "jumbo" prime home mortgages.

Bank of America's corporate and investment bank generated $3.12 billion of profit from January to June, about 28 percent of the $11.02 billion reported for the entire Charlotte, North Carolina-based company.

Shares of Bank of America fell 44 cents to $49.51 in late afternoon trading on the New York Stock Exchange. The bank is expected to report third-quarter results on October 18.

(Reporting by Jonathan Stempel)