“I mean basically, yes, as you have - if the next round is going to be the beta built from 30 to 40 to 50, whatever the product is, yes, that's the latter. And the 2.5 will go down over time as that actually happens if rates actually go up.”

In context

“g essentially terminal deposit betas for the based on the forward curve and then based on a 100% shock to the forward curve. The nuance that we've introduced now is to recognize that given the shock, the reprice at the beta predicts will not be instantaneous. And so you get sort of just the mathematical consequences of that. But I think translating that into a statement about our expectation for beta for the next 12 months relative to our NII guide might be a bridge too far. I'm not sure you can actually draw that thing. Betsy Graseck: Right. But you were saying earlier, deposit betas you do anticipate are going to be accelerating from here, and that's part of the outlook for NII longer term to normalize in the mid-70s. Is that right? Jeremy Barnum: Yes. Go ahead, James. Yes. Jamie Dimon: I mean basically, yes, as you have - if the next round is going to be the beta built from 30 to 40 to 50, whatever the product is, yes, that's the latter. And the 2.5 will go down over time as that actually happens if rates actually go up. The rates don't actually go up to 2.5 billion is exactly 2.5 again. Jeremy Barnum: And what I was going to say, as is just that the projection of the 87 coming down to a significantly lower number contains both the element of internal migration, as well as the potential, which is by no means guaranteed, at product level reprice. And furthermore, then obviously, the dynamics are a little bit different in the different business segments as we move from large corporate wholesale to consumer. Betsy Graseck: Okay. All right. Thank you. Appreciate it. Operator: Next, we'll go to the line of Matt O'Connor from Deutsche Bank. You may proceed. Matt O'Connor: All right. Good morning. So I mean your came eventually consumers will want more deposit rate sensitivity here. I guess what would make you c”