“We remain steadfast and focused on executing our transformation, achieving our ROTCE target of 10% to 11% next year, and further improving returns over time.”

In context

“base incorporates both the level and mix of revenue we've seen, as well as the impact of FX. Given what I just mentioned about revenues, full-year expenses will come in higher than we previously guided. However, you should expect the efficiency ratio for the full year to be consistent with the revenue and expense guidance that we provided during the course of the year, which is slightly below 64%, excluding the impact of the goodwill impairment this quarter. In terms of credit, our expectations for the year remain unchanged, and we will continue to repurchase shares in the fourth quarter under our $20 billion program. As we take a step back, the performance in the quarter and so far this year represents significant progress towards our goal of improved firm-wide and business performance. We remain steadfast and focused on executing our transformation, achieving our ROTCE target of 10% to 11% next year, and further improving returns over time. With that, Jane and I would be happy to take your questions. Operator: At this time, we will open the floor for questions. Please note, you will be allowed one question and one follow-up question. Our first question will come from Mike Mayo with Wells Fargo. Your line is now open. Please go ahead. Mike Mayo: Hi. So I think you said you're at least two-thirds done with a lot of the transformation. And I assume that relates to the consent order. So can you just give us an update on your actions with the consent order as it relates to risk compliance controls and reg data? And if you can elaborate on the reg data part because this current regulatory environment, I don't know why so much effort needs to go to something that's more process-oriented, which they're trying to get away from as opp”