Bank of America 2011 Annual Report Download - page 38
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36 Bank of America 2011
The return on average economic capital increased due to higher
net income and a decrease in average economic capital. Average
economic capital decreased 29 percent due to lower levels of
credit risk from a decline in loan balances as well as an
improvement in credit quality. Average allocated equity decreased
primarily due to the $10.4 billion goodwill impairment charge in
2010 as well as the same reasons as the decrease in economic
capital. For more information regarding economic capital and
allocated equity, see Supplemental Financial Data on page 32.
Average loans decreased $19.0 billion, or 13 percent, in 2011
compared to 2010 driven by higher payments, charge-offs,
continued run-off of non-core portfolios and the impact of portfolio
divestitures during 2011.