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BofA raises $13.5B in stock sale

BofA raises $13.5B in stock sale

Bank of America Corp. which has raised $13.47 billion through common-stock sales is well on its way in achieving a $33.9 billion buffer to meet the U.S. federal's "stress tests" requirements to protect the bank against potential losses when economy worsens. Bank of America raised previously also $7.3 billion from the sale of a portion of its stake in China Construction Bank Corp.

SF Business Times- 5/20/2009