Business English Reading Comprehension: Bank of America Investment Banking Cuts

📚 Key vocabulary for this topic
investment banking — a segment of banking that helps companies raise capital, advises on mergers, and underwrites securities
layoff — the termination of employees' jobs due to organizational downsizing or cost reduction
trading revenue — income generated by buying and selling financial instruments such as stocks, bonds, and derivatives
fixed income — a type of investment that pays regular, predictable returns, such as bonds
equities — shares or stocks representing ownership in a company
underwriting — the process of evaluating and assuming financial risk in exchange for a fee
mergers and acquisitions (M&A) — business transactions involving the combining or purchasing of companies
regulatory compliance — adherence to laws and regulations governing financial institutions
capital requirements — the minimum amount of capital a bank must hold to cover its risks
write-down — a reduction in the book value of an asset when its market value falls below its recorded value