“What you'll see as deposits, as rate hike, what generally will happen is that they will - some will roll off, for sure, but others will actually just kind of migrate into interest-bearing deposits, so all of that is baked into our guidance.”

In context

“h. Operator: Our final question comes from the line of Steven Chubak with Wolfe Research. Steven Chubak: Hi. Thanks for squeezing me in here. Emily I just want - I know you spoke about deposit beta assumptions underpinning the NII guidance. You gave some color on deposit runoff. I was hoping you could just provide some color specifically on what you're assuming in terms of non-interest-bearing deposit declines and some deposit remixing over the course of the year. Emily Portney: Sure. So when we think about NID, if you will, what we call non-interest-bearing deposits, we probably think we still have anywhere - well, actually, sorry, when you think about it, and it's actually disclosed, so actually I can talk about real numbers, I think net interest deposits are close to $90 o -so billion. What you'll see as deposits, as rate hike, what generally will happen is that they will - some will roll off, for sure, but others will actually just kind of migrate into interest-bearing deposits, so all of that is baked into our guidance. Steven Chubak: And do you have any specific assumptions you can provide just in terms of the absolute level of contraction you're contemplating? Todd Gibbons: Well, we've seen - I'll add a little color there. What we've seen historically through these cycles is we're operating somewhere around 30% of our total balance is non-interest-bearing. We've - and it's a little bit tricky to pick up because of the US versus non-US. But that is definitely very high because of the level of interest rates. We'd expect that to drop into the low 20s, something like that. Steven Chubak: Got it. That's helpful color. And then just for my follow-up, I might be jumping the gun here, but I wanted to see if you guys have done any preliminary work or analysis around Basel IV and how that might impact minimum c”