BofA told Fed it could sell branches in emergency: source

(Reuters) - Bank of America Corp told Federal Reserve officials in June that it could shed branches in some parts of the country if it needed to raise capital in an emergency, a person familiar with the matter said. The proposal was part of a series of options provided to the Fed, including issuing a tracking stock for its Merrill Lynch operations. The fact that the bank proposed selling branches doesn't mean it's a desirable move or highly probable, the person said. ...