Former chairman and Chief Executive officer of Merrill Lynch & Co, William Schreyer, expired on Saturday at his home, situated at New Jersey, as stated by Schreyer's family in a statement.

Schreyer, was born in Williamsport, and got his graduation degree from Penn State University in the year of 1948. He had joined the company as a junior executive trainee.

Investors are rating junk bonds that are sold by companies in Europe, safer than banks' riskiest debt for the first time on worries that lenders will lose money in the midst of the region's sovereign deficit problems.

The beginning of the year for Bank of America Corp. was definitely a good one as the bank managed to post much larger than expected profits, mainly on the benefits brought on by the purchase of Merrill Lynch which happened when the financial crisis was at its peak.

A BofA Merrill Lynch Global Research report depicted that the risk appetite re-emerged as concern eased that interest rates will have to increase later this year, aiming to tranquilize unceasingly rising inflation rates, triggering investors to reduce cash holdings and acquire equities.

It has been reported that a former Merrill trader at London, Alexis Stenfors, has been completely banned from taking on a regulated role of any kind for a minimum of five years and the reason why the UK financial regulator had banned him was that in the year 2009, he had misevaluated his trading positions.

In a Tuesday letter, the office of the New York State Attorney General (NY AG) Andrew Cuomo has sought details from Bank of America pertaining to its inadequate disclosure of information to shareholders, prior to its January 1 acquisition of Merrill Lynch.