Bank of America projects that its losses from pending litigation could be as high as $1.4 billion, the company disclosed in its second-quarter report filed Friday with securities regulators.
The bank said its potential losses could range from $250 million to $1.4 billion for some, but not all, of the outstanding litigation involving the company.
The estimate is a rare projection by Bank of America of the potential losses associated with a range of lawsuits, many of which stem from the financial crisis.
Separately, the bank also said mortgage repurchase requests have increased from government-backed entities and private sector companies, and now total $11.1 billion.
Since the 2008 crisis, banks have increasingly repurchased soured mortgages from mortgage-backed securities holders. Typically, such mortgages are held by government-backed agencies like Fannie Mae and Freddie Mac.
But in rare instances, the securities are held by private, third party organizations.
The repurchase requests have increased by $3.5 billion over the last six months, when they totaled $7.6 billion at year-end 2009.
Bank of America said in its quarterly report it must raise an additional $1.1 billion by year's end to satisfy a Federal Reserve requirement from its bailout aid repayment.
When Bank of America repaid its $45 billion in government aid last December, it was required to raise an additional $3 billion by the end of 2010 as part of the repayment plan.
It has sold $10 billion in assets as part of that process, netting $1.9 billion in after-tax proceeds.
If the year-end deadline isn't met, the bank will raise the funds through an equity raise.