DUBAI, (Reuters) – The chief executive of Merrill Lynch said on Monday that emergency measures by U.S. authorities had solved concerns about liquidity problems and that his bank’s merger with Bank of America Corp. was on track.
“I do believe that the actions of the Fed, the Treasury and the FDIC have solved the concerns about the U.S. financial system. I believe that those actions … will all start to unblock and unfreeze the credit markets,” John Thain said at a roundtable discussion in Dubai.
“The transaction is on track. We expect to conclude the transaction by the end of the year,” he said.