Bank of America expanded its purchasing and travel card capabilities to allow corporate customers to record transactions and settle in any of nine local currencies across Europe

to minimize foreign exchange risk. Local currency settlement functionality is available in Belgium, Germany, Ireland, Luxemburg, the Netherlands, Spain, Sweden, Switzerland and the United Kingdom. Based on client need, the bank said it would expand the local currency settlement to other countries in Europe and elsewhere. The bank said it also simplified the contract to cover cards issued in all the currencies and provides consolidated account reporting across countries and regions.