“you should expect and we are expecting the large majority of that to be from NIBs because they will probably revert back to about 20%, 25% of our total deposit balances as we've really seen in historical average.”

In context

“k: Good morning, guys. I appreciate the color on deposits for 2023. I wanted to ask a little bit more about what you saw in the quarter. Interest-bearing deposits flipped to growth. Wondering what the drivers are there. And on the noninterest-bearing side, that outflow accelerated quarter-over-quarter. So, any more color on either of those would be great. Thanks. Emily Portney: So, deposit balances overall for the quarter were down very modestly as you can see. And most of that was a runoff in non-operational, but NIBs did and still are remaining at elevated levels. So just for what it's worth when we're talking about the trajectory for deposits in 2023, as I said before, we would expect average deposits to decline very modestly, call it, low single digit from fourth quarter averages. And you should expect and we are expecting the large majority of that to be from NIBs because they will probably revert back to about 20%, 25% of our total deposit balances as we've really seen in historical average. Rob Wildhack: Okay, thanks. And then, Robin, you highlighted healthy growth in Asset Servicing as a priority for this year. That's a business that's well established, sometimes can be more difficult to differentiate. So, what are the kinds of things you can do and you want to do to accelerate growth there? Robin Vince: Well, I'm going to start off on this one, but then I'm going to give it over to Emily because she is going in to run that business and knows it pretty well already from her prior time. But I think there are a variety of different opportunities for us. I mentioned in my prepared remarks that we're really elevating the conversation more into the C-suite of some of these firms, because gone really are the days where we're selling a small component of a service on an isolated b”