BofA Chief Sees Europe Crisis’s Indirect Impact as Bigger Threat

Bank of America Corp. Chief Executive Officer Brian T. Moynihan said the main risk of Europe’s financial crisis will be the indirect effects on the rest of the global economy.

Concern that European nations may not be able to pay their debts has already slowed the world’s economy, Moynihan said today at a Manhattan investor conference. His Charlotte, North Carolina-based company is ranked second by assets among lenders in the U.S., where Moynihan said consumer spending is being aided by lower gasoline prices and corporations keep finding ways to adjust their models to bolster profits.