BANK OF AMERICA CORPORATION CREDIT COMMITTEE CHARTER As of July 28, 2010 Purpose The Credit Committee (the Committee)

of Bank of America Corporation (the Company) is responsible for exercising oversight of senior managements identification and management of the Companys credit exposures on an enterprise-wide basis and the Companys responses to trends affecting those exposures, and oversight of senior managements actions to ensure the adequacy of the allowance for credit losses and the Companys credit-related policies. Membership The Committee shall consist of no fewer than three non-management members of the Board of Directors of the Company (the Board). The members of the Committee and the chair of the Committee shall be appointed, and may be replaced, by the Board on the recommendation of the Corporate Governance Committee. Committee Authority and Responsibilities In performing its oversight responsibilities as set forth above, the Committee shall oversee senior managements establishment of policies and guidelines, to be adopted by the Board, articulating the Companys tolerances with respect to credit risk, and shall oversee managements administration of, and compliance with, these policies and guidelines. The Committee shall oversee senior managements establishment of appropriate systems (including policies, procedures, management committees and credit risk stress testing) that support measurement and control of credit risk, and shall periodically review managements strategies, policies and procedures for managing credit risk, including credit quality administration, underwriting standards, and the establishment and testing of allowances for credit losses. The Committee shall oversee managements administration of the Companys credit portfolio, including managements responses to trends in credit risk, credit concentration and asset quality, and shall receive and review reports from senior management (and appropriate management committees and Credit Review) regarding compliance with applicable credit risk related policies, procedures and tolerances. In addition, the Committee shall coordinate as appropriate its oversight of credit risk with the Enterprise Risk Committee in order to assist the Enterprise Risk Committee in its task of overseeing the Companys overall management and handling of risk, and with the Audit Committee in order to assist the Audit Committee in its task of assessing the Companys risk management and policies. The Committee further will report the Committees review of the Companys allowance for credit losses to the Audit Committee on a quarterly basis. The Committees chair shall report its findings to the Board at each regular meeting. The Committee shall review and reassess this Charter annually and recommend any proposed changes to the Board for approval and shall conduct an annual review of its own performance. Additional Authority The Board delegates to the Committee, in order to further the performance of the Committees responsibilities, the power and authority to obtain, at its discretion, advice and assistance from internal or external financial, legal, accounting or other advisors, and to hire and compensate such external advisors at the Companys expense. The Committee may form, and delegate authority to, subcommittees when appropriate.
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