“Through the end of the year, we would expect NII to remain broadly in line with the guidance provided last quarter.”

In context

“y to invest in managed products in uncertain markets. Bank lending balances grew to $146 billion. And on a year-to-date basis, balances have grown by $16 billion on a year-to-date basis. Rather, this quarter, balances have grown by $16 billion. The pace of loan growth slowed this quarter on the back of paydowns in securities-based lending and moderating mortgage growth. Total deposits declined by 2% in the quarter to $332 billion. There was a shift in mix to higher-yielding saving products as our expanded bank offering attracted clients' investable cash. Net interest income was $2 billion, up nearly 50% from the prior year. In this accelerated rate hike cycle, we have outperformed our model beta across our deposit portfolio, which has more than offset the changing mix of our deposit base. Through the end of the year, we would expect NII to remain broadly in line with the guidance provided last quarter. Noting that some of the rate benefit was pulled forward into the third quarter. Despite this period of heightened uncertainty and volatility, we achieved consistent growth in Wealth Management. We continue to deliver strong net new assets and demonstrate economies of scale with considerable growth opportunities ahead. Turning to Investment Management. Revenues of $1.2 billion declined from the prior period, substantially driven by lower asset values as well as the impact of outflows over the last year. Total AUM ended at $1.3 trillion. Long-term flows were approximately $2 billion. While equity strategies continue to see outflows, the pace has moderated from recent quarters. Interest rate volatility negatively impacted fixed income flows. However, our broadened portfolio also delivered of”