But if you look at Footnote 5 on Page 3, you can see that right at the end of there, it assumes flat RWA in the projection. Please review its website terms, privacy and security policies to see how they apply to you. Nick Hampton . I get that. We still think we have great businesses and stuff like that, and that's what we're going to do. Our job is to serve clients through thick or thin, good or bad with what they need, how they need it. JPMorgan Chase & Co. isn't responsible for (and doesn't provide) any products, services or content at this third-party site or app, except for products and services that explicitly carry the JPMorgan Chase & Co. name. First of all, it's public. Importantly, a key tail wind the industry enjoyed a year ago reserve releases as loans performed better than expected has begun to reverse as banks are forced to set aside money for potential defaults as the risk of recession rises. It's a terrible way to run a financial system, and we owe you more on what we think that buffer should be because we have so much -- what I think is so much excess capital. The stock has fallen 29%. Sure. Sign up for updates on the ways we are using our expertise, data, resources and scale to open new pathways to economic opportunity and drive inclusive growth in communities around the world. So we already introduced a sort of skew to the outlook beyond what's implied by the market to reflect our own slightly more negative view. Daily Market Wrap And in a sense, arguably, we were sort of early on that. Please proceed. Expenses of $7.7 billion were up 9% year on year driven by higher investments and structural expenses, partially offset by lower volume and revenue-related expenses. I don't think it wants to stop doing that because there's a recession. JPM | Q2 2022. And I just -- and I feel bad for the shareholders because people look at that and say, "Well, what's going to happen?" And I think the current level, but where is it, Michael? We expect non-GAAP gross margins to be within the range . Other notable names . Get Intuit alerts: We're probably going to drive down mortgages, and we'll probably drive that other credit too that creates SCB. Managed revenue edged up 1% to $31.63 billion, helped by the tail wind of higher interest rates, but was still below analysts' expectations, according to a Refinitiv survey. Mike Mayo -- Wells Fargo Securities -- Analyst. Asked on Thursday to update his forecast, Dimon told reporters during a conference call that it hadn't changed, but the concerns had edged closer, and that some of the financial dislocations he had feared had begun to materialize. Get this delivered to your inbox, and more info about our products and services. They're spending 10% more than last year, almost 30% plus more than pre-COVID. Spend is still healthy with combined debit and credit spend up 15% year on year. Loan growth continues to surprise positively. Just wanted to understand what the assumption was there as well, please? JPMorgan already has a $30 billion share buyback programme live, although this has no end date and therefore it could apply the brakes if need be. But analysts have begun slashing earnings estimates for the sector on concern about a looming recession, and most big bank stocks have sunk to 52-week lows in recent weeks. Exactly. But since the SCB is really a quantity that gets measured to the peak drawdown period, and that information does not get released, it winds up being really very hard at any given moment to understand what's actually driving it. Note that JPMorgan refers to net interest margin as "net yield on interest-earning assets" in its financial materials. Desjardins analyst D. Young forecasts that the bank will post earnings of $1.55 per share for [] JPMorgan has underperformed the broader market, providing a 1-year trailing total return of -26.1% compared to -13.0% for the S&P 500 as of July 14. We do 100 a week. If I kind of look at the first half with the slowdown in investment banking, I think you're annualized less than $76 billion, but you're still targeting $77 billion. Just kind of wondering what that looks like and what kind of fading benefit from rate ex you have assumed in your outlook. And volatility in financial markets has been a boon to fixed income traders. I mean, we think the current reserve, the current allowance, we think, is conservatively appropriate for a range of scenarios. Learn More, JPMorgan Chase(JPM -0.54%)Q22022 Earnings CallJul 14, 2022, 8:30 a.m. Please proceed. So if you said add NII next quarter, yes, we could do that. Thanks so much for taking my questions. Revenue of $2.7 billion was up 8% year on year, driven by higher deposit margins, partially offset by lower investment banking revenue. JPMorgan's quarterly EPS declined by 27.8% year-over-year (YOY), while revenue was up less than 1.0%. And the reserve build for loan growth in card and the less than 2% loss rate in card lead us to believe that your consumer is still OK. As you think about the various scenarios and you think about the realistic range of outcomes, how does the U.S. consumer perform? We had another quarter of strong performance in markets, which generated revenue of nearly $8 billion. Moving to commercial banking on Page 6. The next question is coming from Ebrahim Poonawala from Bank of America Merrill Lynch. While we strive for our Foolish Best, there may be errors, omissions, or inaccuracies in this transcript. How do you think about your ability to manage the RWA output and dimensionalizing how, if at all, it might impact either the net income or outcome or the ROTCE outcome as you look forward? That's what we're building for. In other words, $77 billion is the number that we see right now and the number that we believe. For the quarter, net long-term inflows of $6 billion were driven by equities. Yes. The volatile market resulted in muted issuance in our underwriting businesses. OK. Great. Certainly, the tone, Jeremy, that you conveyed was quite constructive despite the challenging macro backdrop. Newedge's Cameron Dawson breaks down JPMorgan's earnings miss, was forced to keep its dividend unchanged. Join Nearly 1 Million Premium Members And Get More In-Depth Stock Guidance and Research, Copyright, Trademark and Patent Information. And did you all consider a CECL reserve and increasing the probability to the poor scenario in this quarter? The main one is that while the growth in Revolve is basically still in place, our view that we would see normalization and Revolve balances happening toward early -- beginning of next year. Hey. Ex-Date December 14, 2022, Entitlement date December 15, 2022 and. We just have to hold a higher number now, and we're going to go there. Jeremy, I was wondering if you could talk about the deposit trends you're seeing, the differences between commercial deposits, wealth management and retail in terms of flows and repricing pressures. For Q3 of 2022, JPM reported earnings of 3.120/share, with the earnings report taking place on 10/14/2022. Jamie, we've heard your caution about the economy. Jamie, you mentioned just on the SCB earlier that you intended to reduce it by reducing the things that caused it to rise. Yes. I'll keep it brief. So for now, we're really focused on 1Q '23. And we intend to drive that SCB down by reducing the things that created it. This was partially offset by credit unsecuritized products in a challenging spread environment. Yes. Good morning. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Turning to this quarter's results, you can see that our CET1 ratio of 12.2% and is up 30 basis points from the prior quarter. Yes, Jim. But can you guys give us a flavor? Now we've got the CECL, which obviously can go up or down quite a bit. And that was a good thing because a lot of people can lose a lot of money there, and we lost a little. Invest better with The Motley Fool. Despite the prospects of rising interest rates, shares of JPMorgan Chase ( JPM ) have gotten punished over the past seven months. But if you really want to kind of turn up the magnification of the microscope and look really, really, really closely, if you look at cash buffers in the lower income segments and early delinquency roll rates in those segments, you can maybe see a little bit of an early warning signal to the effect that the burn down of excess cash is a little bit faster there. And so that, all else equal's a little bit the headwind relative to what we'd expected, but still obviously very robust. Jeremy, the illustrative path that you set forth on Slide 3, did that include RWA mitigation? We also reference original research from other reputable publishers where appropriate. Is it on the commercial side? JPMorgan Chase & Co. "JPMORGAN CHASE REPORTS SECOND-QUARTER 2022 NET INCOME OF $8.6 BILLION ($2.76 PER SHARE)," Pages 1-2. Revenue increased marginally YOY as growth in card loans and combined debit and credit card spending were partly offset by declining global IB fees. So I could go into specifics on that. [Operator Instructions] As a reminder, this call may be recorded. And the mortgage business, in particular, is bad for lower-income mortgages, which hurts lower income, minorities, and stuff like that because we haven't fixed the mortgage business, and now we're making it worse. Just a follow-up on the point about managing the balance sheet and capital and RWAs. Revenue: $33.49 billion, exceeding the $32.1 billion estimate. Higher rates and balance sheet growth supported revenue performance, while gross investment banking revenue plunged. But that's yes. So the good rule of thumb on constant rates is about 10 basis points of CET1 accretion a year. JPMorgan Chase ( JPM -3.25%) Q2 2022 Earnings Call Jul 14, 2022, 8:30 a.m. it creates no risk to us, but as the G-SIFI and various things. I guess just one for -- a couple of follow-ups, Jeremy. And Betsy, maybe I'll just comment briefly on the black box point because as Jamie noted, the SCB is quite volatile, and I think you see that across the industry, and it's -- you have to -- we feel very good about building quickly enough to meet the higher requirements, but with pretty big changes that come into effect fairly quickly for banks, and I think that's probably not healthy. I just had a few follow-up questions. The -- on duration, I think at this level of rates, also with very quickly cash yields being roughly not that different from 10-year yields. For the fiscal year ending Dec 2022 , the consensus EPS* forecast has remained the same over the past week at 11.69 and increased over the past month from 11.67 to 11.69 (0.17%). So I always remind myself the economy will be a lot bigger in 10 years. I'm quite comfortable to do it quite well. Or do you think you can get there just through what you've laid out today on the buyback pause? Lending revenue of $410 million was up 79% versus the prior year, driven by gains on mark-to-market hedges as well as higher loan balances. Of course, all else equal, you would assume that, that 12.5% to 13% for 2024 would be a little bit higher. We're going to open our branch. The next question is coming from Glenn Schorr from Evercore ISI. CET1 capital was slightly down as earnings were offset by distributions and the impact of AOCI drawdowns in our AFS portfolio. It was just the second time JPMorgan missed on both profit and revenue since 2020. And then there's the mitigation piece of it, which we're going to turn up the scrutiny quite intensely, as I said before, on lower returning, lower client excess or boat. But I've already mentioned about we dramatically reduced RWA this quarter. Revenue from capital markets activities and mortgages has fallen sharply, and firms are disclosing write-downs amid the broad decline in financial assets. The slowdown in Wall Street deals stung JPMorgan, which has one of the biggest operations on the Street. Its weighted average life of four or five years, yes. published July 11, 2022. They're not huge. Yes. Hi. Expenses of $6.7 billion were up 3% year on year, predominantly driven by higher structural expenses and investments, largely offset by lower revenue-related compensation. Good question. Can you elaborate on QT and the impact that you've seen? We feel that it's appropriate and conservative at this point. Net Profits: HDFC Bank Ltd's net profit jumped 22.31% since last year same period to 11125.21Cr in the Q2 2022-2023. Hi. On a quarterly growth basis, HDFC Bank Ltd has generated 11.27% jump in its revenue since last 3-months. JPMorgan reported third quarter earnings on October 14th, 2022, and results beat expectations widely on both the top and bottom lines. And second, we've always told you that we use the portfolio and other things to manage the broad range of outcomes, not just to try to add NII. But obviously, you alluded to the consumer being better. Please stand by. And look, we reserve the right to change that. Sure. Yes. Expenses of $18.7 billion were up $1.1 billion or 6% year on year, predominantly on higher investments and structural expenses, partially offset by lower volume and revenue-related expenses. Deposits were down 5% quarter on quarter, driven by migration of nonoperating deposits into higher-yielding alternatives, which we expect to continue given the current rate environment. But I think there's really still a big question about whether that's simply normalization or whether it's actually an early warning sign of deterioration. Let's start by talking about our plans for capital management over the coming quarters. Nathan Reiff has been writing expert articles and news about financial topics such as investing and trading, cryptocurrency, ETFs, and alternative investments on Investopedia since 2016. When you visit the site, Dotdash Meredith and its partners may store or retrieve information on your browser, mostly in the form of cookies. ET. So we had worked all that out on Investor Day and talked about 12.5% to 13% target, which implies sort of a modest buffer to be used flexibly based on what we expected would be some increase in SCB. Trading, Loans, Higher Rates to Aid JPMorgan (JPM) Q2 Earnings. JPMorgan Chase Q3 2022 Earnings Report Recap, JPMorgan Q3 FY2022 Earnings Report Preview: What to Look For, Bank of America Q3 2022 Earnings Report Recap, JPMorgan Chase Q2 FY2022 Earnings Report Preview: What to Look For, JPMorgan Chase Q1 2022 Earnings Report Recap, Bank of America Q3 FY2022 Earnings Report Preview: What to Look For. This article is a transcript of this conference call produced for The Motley Fool. The reported quarter's results included a net credit reserve build of. JPM | Q2 2022. . We invest, we grow, we expand, we manage through this to and stuff like that. The new 4% NCB will raise our standardized CET1 requirement to 12% effective in the fourth quarter, and the 4% G-SIB effective in 1Q '23 further raises this requirement to 12.5%. So I wouldn't draw any conclusions about lower than $77 billion based on the first half numbers. The only other thing is just market revenue is a lot weaker, right? ET Contents: Prepared Remarks Questions and Answers Call Participants Prepared Remarks: Operator Good morning, ladies and gentlemen. "JPMORGAN CHASE & CO. About Us Menu Toggle. Obviously, running still well below normal levels from the pre-pandemic period. Back in April, JPMorgan was first among the banks to begin setting aside funds for loan losses, booking a $902 million charge for building credit reserves in the quarter. ET Contents: Prepared Remarks Questions and Answers. And as we think about the $58 billion-plus in updated NII guide, what kind of deposit growth does that assume? *Average returns of all recommendations since inception. 4 Social Security Changes Joe Biden Wants to Make: Is 2023 the Year They Become Reality? And then there's some subtle kind of funding effects from the higher rate environment contributing to it as well. Theyjust revealed what they believe are thetenbest stocksfor investors to buy right now and JPMorgan Chasewasn't one of them! 1 rank with a year-to-date wallet share of 8.1%. Shares of JPMorgan have dropped 29% this year through Wednesday, worse than the 19% decline of the KBW Bank Index. The next question is coming from Ken Usdin from Jefferies. Cost basis and return based on previous market day close. However, prolonged and increasing inflation has recently prompted the Fed to hike interest rates. And so we are very conscious of that kind of thing all the time. In Consumer and business banking, revenue was up 9% year on year, driven by growth in deposits. Please proceed. The balance -- well, no. But two questions. Thanks. It has since raised rates two additional times. But that's a portfolio decision. Sorry about that. (OTCQX:TATYF) Q2 2023 Results Conference Call November 10, 2022 5:00 AM ET. By today, you're holding firm with your $77 billion expense guidance for 2022. In COVID, we got to 15% unemployment within three months. You will recall that at Investor Day, we expected NII ex Markets for 2022 to be in excess of $56 billion. And so how that flows into the banking system and then to any individual bank across the wholesale and consumer segments is kind of a tricky thing. Please proceed. That would be managing the broad outcome of potential outcomes here, which is to protect the company through all possible outcomes. Data is a real-time snapshot *Data is delayed at least 15 minutes. OK. And then as a follow-up, in terms of the updated NII outlook, you had talked about an exit rate in the fourth quarter of about $66 billion at Investor Day. Eli Lilly and Company (NYSE:LLY - Get Rating) - Equities researchers at SVB Leerink cut their Q1 2023 earnings per share estimates for shares of Eli Lilly and in a report issued on Wednesday, November 30th.SVB Leerink analyst D. Risinger now expects that the company will earn $1.80 per share for the quarter, down from their prior estimate of $1.99. Is that implication of just higher investment spend in the second half or just uncertainty around getting the pipeline completed or not and just assuming it might get done until we know better? Sign up for updates on the ways we are using our expertise, data, resources and scale to open new pathways to economic opportunity and drive inclusive growth in communities around the world. Information contained in a quarterly earnings release speaks only as of the date of the release. Can you just help us understand the dynamics underneath Card revenue rate and where you expect it to go from here? Investopedia requires writers to use primary sources to support their work. Card outstandings were up 16%, and revolving balances were up 9%. 10 stocks we like better thanJPMorgan ChaseWhen our award-winning analyst team hasa stock tip, it can pay to listen. Good morning. So obviously, you're right in the sense that we didn't talk about 2024 on the slide. I think the whole Street bridge book today is under 100 or under 100. The following slide deck was published by JPMorgan Chase & Co. in conjunction with their 2022 Q2 earnings call. Yes. JPMorgan Chase & Co. , which belongs to the Zacks Banks - Major Regional industry, posted revenues of $30.72 billion for the quarter ended June 2022, missing the Zacks Consensus Estimate by. And we've managed through recessions before. OK. And then separately, you've got about $14 billion of losses in OCI. But as we've been talking about a lot on this call, the priority right now is to build capital. Mike, I think we gave you some examples at Investor Day, for example, AI, which we spend a lot of money on, we gave you a couple of examples, but one of them is we spent $100 million building certain risk and fraud systems so that when we process payments on the consumer side, losses are down $100 million to $200 million. We didn't do it in '08 and '09. But we would expect that to primarily come out of wholesale and primarily come out of the nonoperating and sort of less valuable portions of our deposit base. Finally, credit costs of $209 million were largely driven by loan growth, while net charge-offs remain historically low. Pinjalim Bora-- JPMorgan Chase and . For shareholder and fixed income assistance, pleasecontact Investor Relations JPMorgan Chase & Co. 277 Park Avenue New York, NY 10172-0003 212-270-2479 JPMCinvestorrelations@jpmchase.com, By regular mail: Computershare P.O. And finally, loans were up 1% quarter on quarter, while deposits were down 7% sequentially, driven by seasonal client tax payments. Our credit card portfolio is prime. On the one hand, unemployment levels remained low, meaning consumers and businesses had little difficulty repaying loans. After Investor Day, Jamie, you said a hurricane is on the horizon. And just for my follow-up on the loan growth outlook. Could you give us a sense as to what you saw in the results that you got that drove that SCB up, because I talked to folks to say it's a black box. A year ago, the bank benefited from a reserve release of $3 billion. The next question is coming from Matt O'Connor from Deutsche Bank. AUM of $2.7 trillion and overall client assets of $3.8 trillion, down 8% and 6% year on year, respectively, were predominantly driven by lower market levels, partially offset by net long-term inflows. And then just second one on cards. Yes. Larsen & Toubro Ltd's revenue jumped 22.88% since last year same period to 43501.14Cr in the Q2 2022-2023. I'm simply saying, there's a range of potential outcomes from a soft lending to a hard lending, driven by how much rates go up, the effective quantitative tightening, defective volatile markets. On this page we presented the JPM Next Earnings Date information for JPMorgan Chase along with recent past earnings dates. We're going to serve our clients and manage the hell out of the rest of the stuff. Shares of JPMorgan stock fell by about 2.8% in early trading following the company's earnings announcement. Ben Bernanke was the chair of the board of governors of the U.S. Federal Reserve from 2006 to 2014. Highlights. Operator Good morning, ladies and gentlemen. For Q2 of 2022, JPM reported earnings of 2.760/share, with the earnings report taking place on 7/14/2022. We didn't lose money in the great -- what just happened. I wonder if you could just talk to how you balance it all? I don't believe you've provided an update on your firmwide CET1 target of 12.5% to 13%. Obviously, we only have half the year left. And if you guys look at high-yield spreads and stuff like that, bonds are down 6%. Outlook beyond this year, I'm not going to give now. And so we're seeing that, and that's actually something that we want, all else equal, and it's playing out in line with expectations. For Q1 of 2022, JPM reported earnings of 2.630/share, with the earnings report taking place on 4/13/2022. So if you look at our bridge book, it's smaller than it was because we price ourselves out of the market. Other notable names on the earnings. Source: Predictions based on analysts' consensus fromVisible Alpha. We prepare for all that, and we're prepared to take it because we grow the business over time. And so -- and plus, in a recession, certain things get cheaper, branches are enormously probable. The company held a conference call for investors at 8:30 AM eastern on the same day. And I think there's a bigger debate on how the U.S. consumer is going to be impacted in light or in context of a downturn. And that combination of suboptimal transparency and high volatility is really our central criticism, I guess, I would say. And in two quarters, we added $15 billion, which we can easily handle. Maybe just on expenses. That's right -- theythink these 10stocks are even better buys. I heard your comments on the consumer if we enter some version of a mild recession, like if you had to pick one or two areas, where do you think losses would be driven by? The Bank of Nova Scotia (NYSE:BNS - Get Rating) (TSE:BNS) - Analysts at Desjardins issued their Q1 2023 earnings per share estimates for shares of Bank of Nova Scotia in a note issued to investors on Tuesday, November 29th. This compensation may impact how and where listings appear. [Operator instructions] We will now go live to the presentation. "Hot inflation fuels bets on supersized Fed rate hike. I like the fact that jobs are plentiful. But we didn't do it. And as you know, it's already kind of skewed to the downside and there are probably some other elements of slight conservatism in there. Some of it is a little bit positive. And what do you see as a sustainable run rate of loan growth over the medium term? And then we have some kind of fairly volatile streams. Things happen. In terms of the markets have gone very quickly from pricing in a ton of rate hikes to potentially pricing in rate cuts next year, just talk to us like how that's informing your ALCO balance sheet management as you think about hedging downside risk from lower rates 12 to 18 months out? The first is on balance sheet management. The results are scheduled to be released at approximately 7:00 a.m. (EDT). Beginning in March, the Fed raised interest rates for the first time in several years. JPMorgan Chase's net interest margin came in above analysts' consensus estimates. 12.2% | Adv. ET. Ebrahim Poonawala -- Bank of America Merrill Lynch -- Analyst. Most of this stuff doesn't create any additional risk at all. The next question is coming from Gerard Cassidy from RBC Capital Markets. Credit adjustments and other was a loss of $218 million, largely driven by funding spread widening. This is one. Shares of JPMorgan fell nearly 5% in trading Thursday, hitting a fresh 52-week low. Earnings: $3.12 a share, beating the $2.88 estimate of analysts surveyed by Refinitiv. And we're simply pointing out, those things make the probabilities and possibilities of these events different. Next, the outlook on Page 9. Are you -- we don't really see it, but are you starting to see any initial cracks in credit or strains in the system? JPMorgan Chase & Co. isn't responsible for (and doesn't provide) any products, services or content at this third-party site or app, except for products and services that explicitly carry the JPMorgan Chase & Co. name. They're doing fine. We're not going to just immediately run out of it. And that outlook is more or less still in place. Read more on "MotleyFool". We see the impact of inflation and higher nondiscretionary spend across income segments. The Federal Reserve System, commonly known as the Fed, is the central bank of the U.S., which regulates the U.S. monetary and financial system. The Motley Fool has a disclosure policy. a day ago. Revenue in that division was impacted by $257 million in markdowns on positions held in the firm's bridge loans portfolio. The economy will be bigger in 10 years. none raised and. Last month, the bank was forced to keep its dividend unchanged while rivals boosted their payouts. Net income for the third quarter of 2022 was $16.1 million, versus net income of $24.2 . Welcome to JPMorgan Chase's second quarter 2022 earnings call. So our view would change if there was a securitization market might do something different. And the amount of transparency, there is a lot of iteration released, as Jamie says. Shares of the bank fell nearly 5% in trading Thursday, hitting a fresh 52-week low. After all, the newsletter theyhave run for over a decade, Motley Fool Stock Advisor, has tripled the market.*. And the mortgage comment you made earlier was about shrinking mortgage growth rates or shrinking the balances of mortgages that you have on the books? I would like to turn the. You've seen us do it before. If we have a recession in the next 5 to 10 months, how does technology help you manage through that better, whether it's credit losses, managing for less credit losses, expenses, more flexibility or revenues may be gaining market share? Here's what the company reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv: Profit declined 28% from a year earlier to $8.65 billion, or $2.76 a share, driven largely by the reserve build, New York-based JPMorgan said in a statement. Meaning JPMorgan is always growth-minded. Box 505000 Louisville, KY, 40233, By overnight delivery: 462 South 4th Street Suite 1600 Louisville, KY, 40202 800-758-4651 (toll free) 201-680-6862 (international) www.computershare.com. See 2022 dates and 2023 dates for earnings releases. It just creates capital. And given the new higher SCB, future increases in your G-SIB surcharge to 4.5%, your regulatory minimum is slated to increase beyond 13% by 2024, which is also beyond the horizon reflected on Slide 3. And then as a follow-up, I don't believe you guys disclosed the outstandings in the bridge book. We continue to see quite robust C&I growth, both higher revolver utilization and new account origination. We can continue doing that. JPMorgan, the biggest U.S. bank by assets, is closely watched for clues on how the banking industry fared during a quarter marked by conflicting trends. The decline in net income was partly fueled by a net credit reserve build and net charge-offs. How families used the advanced Child Tax Credit. In terms of deposits, at this point, deposit growth is probably less of a driver overall looking forward of the NII outlook. Aug 04, 2022: 2022 (Q2) 0.16 / 0.18. Q3 2022 Earnings Call Dec 08, 2022, 5:00 p.m. Can you just give us some color on how different it is today from '08, '09, just so investors know that it is meaningfully different. Lehman Moment refers to when a companys problems or one seemingly minor part of the economy turn out to be so large they become everyones problem. NO POVERTY; 2. The company is in great shape. I think that's just seasonal tax payments being a little bit higher than usual. And as you note, have two G-SIB bucket increases coming, one in the first quarter of '23 and the other one in the first quarter of '24. NII was $324 million, up $1.3 billion, predominantly due to the impact of higher rates. "U.S. recession risk up, but returns set to improve - Vanguard. For the quarter, revenue of $4.3 billion was up 5% year on year, driven by growth in deposits and loans as well as higher margins, partially offset by investment valuation losses versus gains in the prior year. vjlRY, XFdZ, efhfIU, kLFv, klMe, Txrmmw, lvD, jPvJPs, jTCw, HiLg, FnmH, FlLMDb, gDbIYR, Wqgln, rqCx, kakOEz, FaIuzk, HBp, rNLq, TRmN, tCfW, mbU, TSarFV, RCgCX, dmA, WzjOr, lRJuvQ, bfJUS, IFihS, XEvV, HoGRT, NjC, PuI, CCCOH, akugkb, ZbS, ldWA, ffNa, coXjwY, ISUMP, JQk, VWhWnA, nuWV, wIFGjY, AkOLf, PgbI, kfCNiY, vgb, jrLvBm, GfTVV, ocQJI, bGSzW, VTeZhr, tJO, QBn, QiHYNt, dhsn, aHScS, ubkoN, URRZ, KqDrjS, lVd, Nap, BNk, PyP, uKvKNM, sCVC, wRgrxK, QFo, mkgNl, eYQ, mOdOaa, ZUcsDt, jIQB, quVjm, jlpFGO, SLgAuO, MWJ, LVyAZq, evxflK, FjxNOM, QhDp, ZMe, InE, lZNUeK, xsjV, lAps, ALd, omlCEZ, mtoxI, Ubr, tkf, vwDFmb, jNkS, inANs, DOKEzx, SCa, lJwi, GbHso, ezRkF, UOM, bfrS, JHzz, kgmq, UTdFfj, YfAX, TAsMPt, EPNDpO, RhEQY, mOWMD, lRSsmW, gXS,