Bank of America Corp Chairman
Holliday made the comment at a conference in Abu Dhahi when asked about how much board support Moynihan has after a steep decline in the bank's stock price. He declined to comment on whether the bank planned to sell more assets.
Asked about the state of the U.S. economy, Holliday said it was hard to judge but that there have been some encouraging signs in the last few months.
Moynihan, CEO sine January 2010, is under pressure to build capital to absorb mortgage-related losses and meet new international standards. He has been saddled with losses tied to the 2008 acquisition of Countrywide Financial under his predecessor, Ken Lewis. But he has also made mistakes of his own, including a now-cancelled plan to charge a monthly debit fee that angered customers this fall.
Bank of America reports fourth-quarter earnings on Thursday.
(Reporting By Maha Dahan in Abu Dhabi; Additional reporting by Rick Rothacker in Charlotte, North Carolina.)