NO EUROPEAN VACATION: In its second-quarter earnings report, Bank of America said it had trimmed its exposure to Portugal, Ireland, Italy, Greece and Spain. Total exposure was $9.6 billion, down from $16.7 billion the year before.

MORTGAGES: Like its peers, Bank of America is being forced to buy back mortgages and mortgage-backed bonds that it sold to investors several years ago. The bank said that outstanding claims reached nearly $23 billion, up from $10 billion a year ago.

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