May 21, 2012 / 7:43 PM / 6 years ago

Bank of America CEO "comfortable" with bank's investments

(Reuters) - Bank of America Corp (BAC.N) is “very comfortable” with the composition of its corporate investment portfolio, which is invested mostly in government-guaranteed mortgage bonds and U.S. Treasury bonds, Chief Executive Officer Brian Moynihan said at an investor conference on Monday.

    Moynihan was asked about the bank’s investments following JPMorgan Chase & Co’s (JPM.N) disclosure this month that it lost $2 billion or more on a trading strategy in its Corporate Investment Office. Bank of America buys insurance-like protection on some loans to large companies, but doesn’t make broader hedging bets at the corporate level, he said.

    Reporting By Rick Rothacker in Charlotte, North Carolina; Editing by Gary Hill

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