Bank of America Corporation, a Delaware corporation was incorporated in 1998 as part of the merger of BankAmerica Corporation with NationsBank Corporation. It operates as a bank holding and a financial holding company. Through its banking subsidiaries and various nonbanking subsidiaries throughout the United States and in selected international markets, it provides a range of banking and nonbanking financial services and products. It provides these services through three business segments: Global Consumer and Small Business Banking, Global Corporate and Investment Banking and Global Wealth and Investment Management. The Company also provides credit card products to customers in Canada, Ireland, Spain and the United Kingdom. GCSBB is made up of three businesses: Deposits and Student Lending, Card Services and MHEIS. GCSBB, specifically the Card Services business, is presented on a managed basis. Deposits and Student Lending includes the results of consumer deposits activities which include a comprehensive range of products to consumers and small businesses. In addition, Deposits and Student Lending includes its student lending and small business banking results, excluding business card, and the net effect of its ALM activities. Debit Card results are also included in Deposits and Student Lending. The deposit products include traditional savings accounts, money market savings accounts, CDs and IRAs, and noninterest- and interest-bearing checking accounts. Deposit products provide a relatively stable source of funding and liquidity. Card Services, which excludes the results of Debit Card included in Deposits and Student Lending, provides an offering of products, including U.S. Consumer and Business Card, Unsecured Lending, and International Card. It offers a variety of co-branded and affinity credit card products. It is an issuer of credit cards through endorsed marketing in the U.S. and Europe. Mortgage, Home Equity and Insurance Services provides an extensive line of consumer real estate products and services to customers nationwide. Business Lending provides a range of lending-related products and services to its clients through client relationship teams along with various product partners. Products include commercial and corporate bank loans and commitment facilities which cover its business banking clients. Capital Markets and Advisory Services provide financial products, advisory services and financing globally to its institutional investor clients in support of their investing and trading activities. Treasury Services provides integrated working capital management and treasury solutions to clients worldwide through its network of proprietary offices and special clearing arrangements. The Company¿s clients include multinationals, middle-market companies, correspondent banks, commercial real estate firms and governments. Global Wealth and Investment Management provides an offering of customized banking, investment and brokerage services tailored to meet the changing wealth management needs of its individual and institutional customer base. The Columbia Management of the Company is an asset management business serving the needs of both institutional clients and individual customers. Columbia provides asset management products and services, including mutual funds and separate accounts. Columbia mutual fund offerings provide an array of investment strategies and products including equity, fixed income taxable and nontaxable and money market taxable and nontaxable funds. Premier Banking and Investments includes Banc of America Investments, its full-service retail brokerage business and its Premier Banking channel. The Company operates in a competitive environment. As a registered bank holding and financial holding company, it is subject to the supervision of, and regular inspection by, the Board of Governors of the Federal Reserve System.