"A rise in rates makes us seem a lot smarter to the world because we make more money," he said to the "Mad Money" host. "It's $4 billion-plus on a core-basis a year if rates go up 100 basis points, but we are not waiting for that."
Referring to the company's last reported quarter, Moynihan confirmed the company is focused on growth through volume. Bank of America's expenses keep going down and revenues have stabilized, he said. Deposits are up $60 billion year-over-year, and he said there are also more loans.
"We can keep doing that. It would be easier if rates were a little bit higher, but that didn't happen and we are not waiting for it," Moynihan said.