“we can continue to see growth in card and particularly revolving card balances as a percent of the balance sheet like you saw this quarter.”

In context

“over-quarter beta with that lag effect was something like 160%. Our cumulative beta now stands at $57 million. And so that getting factored into NIM as we look ahead on that dimension, particularly assuming if rates do stay higher for longer, I wouldn't be surprised if there continues to be some upward pressure on beta at least in the near term, driven by those factors that I described, the pricing and product mix piece. So beyond that then, in the NIM, we have seen spreads widen a bit here and wholesale funding costs are up a bit. And I think Rich talked about suppression in card, but depending on the path of credit, there's the potential at least for increased revenue suppression. So I would lump all of those three things together as potential headwinds. But from a tailwind perspective, we can continue to see growth in card and particularly revolving card balances as a percent of the balance sheet like you saw this quarter. And then the other thing that I would note, even though cash balances remain elevated relative to historical standards, I think we will see it settle out at a level that's higher than pre-pandemic, but ultimately lower than where we are today as you look ahead over multiple quarters. So those are really the primary factors that I would say are at play with respect to NIM. Jeff Norris: Next question please. Operator: Our next question comes from Arren Cyganovich with Citi. Your line is open. Arren Cyganovich: Yeah. Just touching on the last discussion on net interest margin. The card loan yields expanded, I think, 89 basis points and that was quite a bit higher than the base rate expansion for the quarter. You mentioned higher revolve rates, is that part of what you're seeing there? And ho”