Bank of America's exposure to the euro debt crisis seems very modest; confirms U.S. risk of contagion is low

05/07/2010 2:02 pm EST

Focus: STOCKS

Jim Jubak

Founder and Editor, JubakPicks.com

A little data here. A little data there. Someday we may actually know what banks are at risk in the European debt crisis. (Of course by then the crisis might well be over.)

Bank of America (BAC) reported its exposure today, May 7, in a filing with the SEC (Securities & Exchange Commission.)

Exposure to Greece: $193 million sovereign debt. Exposure to Ireland: $401 million sovereign debt. Exposure to Italy: $2.335 billion sovereign debt. Exposure to Portugal: $33 million sovereign debt. And exposure to Spain: $122 million sovereign debt.

The bank also provided total figures for each country that include sovereign (the debt issued by the national government) and corporate debt (debt issued by companies, frequently by banks).

The totals for Bank of America come to $1.3 billion for Greece, $5.2 billion for Ireland, $9.6 billion for Italy, $731 million for Portugal and $5.7 billion for Spain.

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