Bloomberg -- Bank of America Corp., the second- largest U.S. lender by assets, completed the merger of its Merrill Lynch & Co. subsidiary into the parent company to simplify the corporate structure.

The bank assumes the unit’s obligations and debt while keeping the Merrill Lynch brand, the company said today in a statement. The transaction completes a process first disclosed by the Charlotte, North Carolina-based company in an Aug. 2 filing.

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