Bank of America (BAC) aims to please regulators and get a tax break by moving more than $50B of...

|About: Bank of America Corporation (BAC)|By:, SA News Editor

Bank of America (BAC) aims to please regulators and get a tax break by moving more than $50B of derivatives business out of Dublin and into its U.K. subsidiary. The Irish don't want the business, the British want to keep it under a closer eye, and BofA's U.K. unit is sitting on $8B in tax-deferred assets which it will now be able to monetize.