“The answer is, yes. We still expect for both portfolios to hit those normal levels sometime at the end of the year, the normal level, as you pointed out, on the page for both branded as well as for retail services.”

In context

“hat we think will contribute to that. Obviously, capital is important and how that evolves and we continue to kind of work to optimize the balance sheet while serving our clients effectively and importantly, growing the strong businesses that we have that are high returning as well. Operator: And our next question comes from Matt O'Connor from Deutsche Bank. Matt O'Connor: Hi. [Technical Difficulty] credit card in the back half of the year. And just wondering, you've got the normalized loss rates on Slide 22. Are you still thinking you'll hit those, I think, exiting this year or early next year. And then, I think at one point you said they might go a little bit above that before they kind of come back to a normal level? And is that still the case? Mark Mason: Yes. Thanks for the question. The answer is, yes. We still expect for both portfolios to hit those normal levels sometime at the end of the year, the normal level, as you pointed out, on the page for both branded as well as for retail services. We would expect, again, subject to how and when this mild recession kind of plays out, we would expect that they would tick higher than that before getting back inside of that range. But again, all of this is tied into how we've calculated our reserves, the delinquencies that we're seeing, the mix of the portfolio, which again skews towards your higher FICO scores and the customer behaviors that we're seeing, which play through not only that cost of credit line, but also plays through the growth that we referenced earlier in the top line. But the short answer is yes, that's still our thinking. Jane Fraser: And as Mark said, I think we feel good about our positioning as a prime, but also a strong credit proposition that we have. We're seeing stronger demand for the credit-led products such”