Bank of America is weighing the sale of an $8bn stake in a leading Chinese bank within days in a move that would relieve some of the pressure on its battered balance sheet.

BofA, which is undergoing a crucial US government “stress test”, is free to divest about a third of its 16.7 per cent stake in China Construction Bank on Thursday, following the expiration of a lock-in period.

The possibility this week of a lucrative share sale comes as BofA is in talks with US government officials over how much new capital it will be required to raise. BofA received pledges of $25bn in support in October as part of the US government's plan to restore stability to the banking system. In December, the US government pressed BofA chief executive Ken Lewis to complete the acquisition of Merrill Lynch, in spite of Merrill's worsening financial condition. To help make the deal palatable to Mr Lewis, US regulators pledged an additional $20bn in capital.