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Bank of America CEO on bad loans, bull market

Bank of America CEO Brian Moynihan spoke with CNBC about a range of topics, including what higher rates could mean for the lender, the bank's exposure to bad loans, as well as the overall state of the bull market.

"We had a war to fight that few other people had between cleaning up the mortgage mess, the cost structure and the litigation," said Moynihan in defense of why the stock has lagged behind its peers in the past five years.

"That war is over, and we can declare that, but we learned the lessons from that war and that's what we keep applying," the chief executive added, claiming that at the current stock prices, management would keep buying back BofA shares "all day long."

Year to date, Bank of America's stock is down nearly 7 percent compared with a gain of 2.5 percent for the S&P financial sector. Since hitting a recent low in June, however, the shares have surged 30 percent.

Only PRO subscribers have access to the full interview, which was originally broadcast on "Squawk Box."