BofA projects litigation cost of up to $1.4 billion

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 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.

Shares in Charlotte, N.C.-based Bank of America closed down 0.43 percent at $13.96 on the New York Stock Exchange.

(Reporting by Joe Rauch; Editing by Gary Hill)