"However," he noted, "until we have a meaningful repurchase experience with these counter parties, we believe it is not possible to reasonably estimate this exposure."
All told, Bank of America estimates that it has $4.4 billion in buyback liabilities as of Sept. 30. Its reps & warranties provision stood at $872 million, down sharply from the $1.2 billion from the second quarter but elevated from the $500 billion range it had been in previous quarters. Noski warned that as the buyback saga continues, that number could remain "lumpy" in the quarters ahead.
-- Written by Lauren Tara LaCapra in New York.
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