“For the remainder of the year, we expect NII to build sequentially on the back of loan growth at a pace slightly below the third quarter.”

In context

“t revenues were $3.6, billion up 5% sequentially, Year-to-date, these revenues increased 29% to a record $10.3 billion. The strength in fee-based flow supports our view that clients first consolidate assets onto our platform and then migrate these assets to the advisory. Bank lending balances grew $7 billion sequentially to $121 billion and have grown 23% year-to-date. Growth in securities-based lending and mortgages drove the increase, reflecting strong client demand for new lines and increased household participation. Net interest income was $1.3 billion. Prepayment amortization was negligible in the quarter, but it did impact the sequential move. Excluding prepaying for both quarters, NII was up 4%, benefiting from the incremental growth in lending balances and decreased deposit costs. For the remainder of the year, we expect NII to build sequentially on the back of loan growth at a pace slightly below the third quarter. The integration of E*TRADE remains on track. Today, dual clients of E*TRADE and Morgan Stanley can choose to provide their Morgan Stanley advisor with visibility into their E*TRADE accounts. By year-end, clients will be able to link their self-directed accounts via single sign-on building on our digital client experience. Moving to investment management. The timing of the Eaton Vance acquisition makes the prior quarter a more relevant benchmark. Revenues were $1.5 billion declining 15%, while asset management and related fees rose sequentially, the increase was offset by lower performance-based income and other revenue. Total AUM remains strong at $1.5 trillion. Net -- total net flows were $12.3 billion in the quarter, driven by liquidity and overlay services. Long-term flows reflected a”