“We reduced it by about 10% in the quarter. Now stands at about $8 billion. And as market conditions continue to persist and they open up, that should provide us with incremental opportunities.”

In context

“d performing IPOs performing well. So what's holding up? What's different about the historical principal investments that we wanna monetize amidst a good banking backdrop? Dennis Coleman: Sure, Glenn. It's Dennis. Thanks for that question. So I think we have both of those things happening at the same time. We have elevated asset prices. We have improving credit markets. We have increased opportunity for companies to access the IPO markets. We've seen that start to accelerate in the second quarter. But it also is the case that it has not been a robust environment for the harvesting, particularly for private equity-type portfolio assets. So in the case of our portfolio, we remain committed to reducing those historical principal investments over time. And we continue to make steady progress. We reduced it by about 10% in the quarter. Now stands at about $8 billion. And as market conditions continue to persist and they open up, that should provide us with incremental opportunities. We'll continue to reduce the other components of our historical principal investments in line with our strategy. David Solomon: The only thing, Glenn, I just wanna add to that. We're committed. This is now a small portfolio. But you know, it's common sense that when you get to the end of what was a very, very big portfolio, you know, you've got stickier things. We are committed to aggressively reduce that portfolio and are working very, very hard at it. But at the moment, you know, it's a small portfolio and we'll continue to play. Katie: Thank you. We'll take our next question from Ebrahim Poonawala with Bank of America. Ebrahim Poonawala: Hey. Good morning. I guess, just first question, Dennis, to follow-up on capital. I think the 10.9 versus 14.5 CET1. There is a sense that maybe there”