The combined underwriting firepower of Bank of America and Merrill Lynch following the quickfire sale of the stricken US brokerage could potentially lift Bank of America into a leading position across equity and debt capital markets globally and in the US, according to research.

Based on the value of deals this year, the enlarged Bank of America would rank number one as a bookrunner of all equity capital markets deals globally and in the US - capitalising on Merrill's superior equities franchise; and first, again, as a bookrunner of all debt and credit deals globally and in the US, according to underwriting league table data from Dealogic, the financial data provider.