“Portal NII guidance is now about $95.5 billion implying $3.5 billion of markets NII.”

In context

“I mentioned. Upfront. Revenue was $1.5 billion for the quarter. NII was $1.5 billion down $875 million year on year, And IR was a net gain of $49 million up $148 million year on year, excluding the prior year's Fiserv related gain. Expenses of $547 million were down $32 million year on year, excluding the foundation contributions from prior year that I mentioned. To finish up, I'll touch on the outlook. You'll recall that at Investor Day, I made a couple of comments previewing the potential evolution of the outlook So now let me formalize that and give you updated guidance. First, we now expect NII ex markets to be approximately $92 billion with the increase driven by changes in the forward curve and strong deposit growth in payments, security services, as well as balance growth in card. Portal NII guidance is now about $95.5 billion implying $3.5 billion of markets NII. Second, on adjusted expense, we now expect it to be about $95.5 billion primarily driven by the impact of the weaker dollar, is largely bottom line neutral. And finally, credit we continue to expect the card net charge off rate to be approximately 3.6%. So reflecting on the quarter, while the environment remains extremely dynamic, in many ways navigating uncertainty is the norm for both us and our clients. And we're now happy to take your questions, so let's open the line for Q&A. Operator: Our first question will come from Christopher McGratty with QBW. Your line is open. Christopher McGratty: Great. Thanks so much. Relative to three months ago, there's a lot of optimism on financial deregulation and and really gonna break in the bank's favor. I'm interested if you agree, number one, wi”