Bank of America 2013 Annual Report Download - page 37

Bank of America 2013 35
The provision for credit losses decreased $852 million to $2.8
billion in 2013 due to improvements in credit quality. Noninterest
expense decreased $255 million to $5.4 billion driven by lower
operating and personnel expenses.
Average loans decreased $7.5 billion to $142.1 billion in 2013
primarily driven by charge-offs and continued run-off of non-core
portfolios.
Key Statistics
(Dollars in millions) 2013 2012
Total Corporation U.S. credit card (1)
Gross interest yield 9.73% 10.02%
Risk-adjusted margin 8.68 7.54
New accounts (in thousands) 3,911 3,258
Purchase volumes $ 205,914 $193,500
Debit card purchase volumes $ 267,087 $258,363
(1) In addition to the U.S. credit card portfolio in CBB, the remaining U.S. credit card portfolio is in
GWIM.
During 2013, the total Corporation U.S. credit card risk-
adjusted margin increased 114 bps due to an improvement in
credit quality. During 2013, total Corporation U.S. credit card
purchase volumes increased $12.4 billion, or six percent, to
$205.9 billion and debit card purchase volumes increased $8.7
billion, or three percent, to $267.1 billion, reflecting higher levels
of consumer spending.