BofA capital markets business is 'solid': Moynihan

Brian Fonzie Moynihan

Bank of America CEO Brian Moynihan told CNBC that consumer health and credit quality are both improving.

"The calendar has been pretty full. ... In terms of capital markets fees, we'd expect a good fourth quarter compared to last year's fourth quarter-both debt and equity capital markets," Moynihan told CNBC. "The M&A business is also solid ... not robust yet because the economy's been a bit slow, but solid," he added.

(Read more: Qatar fund quietly builds $1 billion BofA stake )

American consumers also are getting on more solid footing, he said.

"The customer franchise, whether retail or investment banking, has been very solid throughout the whole time," Moynihan said. "Credit quality continues to get better. It means the American consumer continues to get healthier and the unemployment continues to work its way down."

Separately, Bank of America recently said losses tied to litigation could rise to as much as $5.1 billion, up from an estimated limit of $2.8 billion last quarter. That prompted UBS on Friday to lower its price target on the bank to $15.60 from $16 a share.

(Read more: Did Justice Dept. strike gold with its BofA verdict? )

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