In this week’s financial news, it appears that Bank of America has recently reported a net loss of $194 million, in the last three months of 2009. According to a report at bbc.co.uk, that is compared to a loss of $1.8 billion in the same period a year earlier.

The bank, who says they have already taken steps to strengthen their balance sheets, also announced that it has now repaid all of the $45 billion government bail-out money that it had received during the financial crisis.

But despite the disappointing loss in the fourth quarter, Brian Moynihan, who is the bank’s chief executive, says that there were a number of important accomplishments that the bank managed to achieve and in his eyes, are worth noting.

To start off with, Moynihan says that the bank managed to repay the American taxpayer, with interest, for the Tarp (Troubled Asset Relief Program) investment. And secondly, they have taken the steps to strengthen their balance sheets.