BofA cautions of effect if Brexit uncertainty continues

BofA cautions of effect if Brexit uncertainty continues

(Reuters) – Bank of America Corp (N:-RRB- said its company, results and functional model might be negatively impacted if financial volatility stemming from Britain’s vote to leave the European Union continues. The Brexit vote has presented “intricacies and variables” in computing reasonable values of certain businesses, the bank stated in a regulative filing on Monday. BofA, whose UK exposure is focused in international corporations and sovereign clients, stated net direct exposure to the UK amounted to $56.31 billion since June 30.
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