Bank of America consolidated borrowings during the credit crisis peaked at $48.1 billion, nearly double the amount of money that Lehman Brothers requested but did not get from the Federal Reserve prior to its bankruptcy filing on September 14, 2008. Today's study incorporates Bank of America bond price data as of August 20, 2013 to analyze the potential risk and return to bondholders of Bank of America Corporation, which recently completed a tender for $6.2 billion in various notes due in 2014. Institutional investors around the world are required to prove to their audit committees, senior management, and regulators that their investments are in fact "investment grade." Interest rate risk managers at major firms like Bank of America Corporation use the marginal cost of funds reflected in the bond market to centralize interest rate risk and to measure internal profitability based on this "transfer pricing yield curve."