Bank of America is an American financial services and banking corporation. Bank of America provides a broad spectrum of services, including retail and private banking, asset management, corporate banking, investment banking and insurance. Bank of America, National Association operates as a subsidiary of Bank of America Corporation (United States).
Bank of America, National Association has Category B banking license number 570205 issued by the Cayman Islands Monetary Authority. This type of license allows Bank of America, National Association to conduct banking and trustee operations with non-residents and domestic banking business with other Cayman Islands licenced entities.
There is no deposit guarantee scheme in the Cayman Islands: in the case of Bank of America, National Association failure its depositors will not get any compensation.