Bank of America, facing the need to raise $33.4 billion but also keep the government's common stake to a minimum, has aggressive plans to sell assets. It has said it will raise $17 billion in common equity, $10 billion from selling assets including First Republic Bank and the Columbia asset management unit; and $7 billion from other sources.

True to its commitment, the bank sold $7.3 billion worth of shares in China Construction Bank Corp. Bank of America was the second largest shareholder with 16.7 percent; its stake is now down to 10.6 percent, according to Reuters. CEO Ken Lewis says the bank wants to hang on to a "large ownership," which it has long deemed strategic. But defining large may be tough, and it may end up selling a portion. 

For more:
- here's the article

Related Articles:
Can top banks sell assets in time?
Bank of America's capital-raising prospects
10 banks will need to raise capital