“So you know, we sit here today and as Jane mentioned, you know, with seeing nothing that would suggest that we shouldn't be targeting the 10% to 11%, so we remain committed to that 10% to 11%.”

In context

“but other levers that we will look to pull in the productivity savings we expect to come from prior investments is an important aspect as well. And then we've continued to optimize the use of our balance sheet. And the capital that we have. You see that we have brought our CET1 down to 13.4%. We're continuing to return capital. Those become very important aspects to getting to that target. Now look, it's uncertain. And how the world evolves is hard to forecast at this point. Right? So could a stressed macro environment create an impact on credit and the build of reserves? Absolutely. Right? That could happen towards the end of 2025. If it does happen in 2025 and losses end up showing up in 2026, they end up being self-funded, so to speak, by the reserves that would have been established. So you know, we sit here today and as Jane mentioned, you know, with seeing nothing that would suggest that we shouldn't be targeting the 10% to 11%, so we remain committed to that 10% to 11%. There's a path with the combination of those levers that I've mentioned. And importantly, this quarter is yet another proof point that our strategy is resilient, that we've got the right team on the ground to execute against it, and that it's showing up in our numbers, and it's showing up in our returns. Jane Fraser: And I just remind everyone, we're a very different bank than the one we were a few years ago in terms of our business mix, our risk profile, and all the investments we've made into the business. And I think you can see us managing the bank, doing what we say we'll do, and please take some confidence in that. Mike Mayo: Thank you. Operator: Our next question will come from the line of Ebrahim Poonawala with Bank of America. Your line is now open. Please go ahead. Ebrahim Poona”