Fed: No one advised BOA’s Lewis on disclosure

Bank of America chief was not advised on disclosure issues by anyone at the Federal Reserve, Fed spokeswoman, Michelle Smith said on Thursday.

No one at the Federal Reserve advised Ken Lewis or Bank of America on any questions of disclosure, Smith said in an e-mail responding to a question, Reuters reported.

It has long been the Federal Reserve's view that questions of this nature are best addressed by individual institutions and their legal counsel, as they are in a position to understand clearly their obligations and responsibilities.

According to New York Attorney General on Thursday, Andrew Cuomo, Lewis was pressured by senior federal officials Henry Paulson and Ben Bernanke to accept a merger with troubled Merrill Lynch & Co face the possibility of losing his job.