SAN FRANCISCO (MarketWatch) -- Bank of America Corp. needs more than $80 billion in new common equity capital to support the huge amount of assets on its balance sheet, an analyst said Tuesday.

The bank probably needs to maintain a tangible equity ratio of 6% to 9%, he said. "It would take over $80 billion of new common equity to reach even the low end of the range, and we believe Bank of America simply is not generating sufficient capital internally in this environment to put a dent in this size capital hole."