“And the dividend increases you've seen, I think they're entirely appropriate, and I would expect they continue over coming years without saying exactly what level they're at.”

In context

“by the recent many years of CCARs, shows that the G-SIB banks, the top eight banks for sure, are well capitalized. So, I don't want to get ahead and talk about what we'd mitigate. Clearly, we have flexibility around our RWAs. You saw that this quarter, we ended up with 15.5% CET1. We did that not really from a Basel III perspective. I mean, we had that in the back of my mind, but more from this environment, it was a little squarely. I mean, let's just say it that you had three bank fails at the beginning of the quarter. That wasn't a good look. So, we wanted to be cautious. And on the specific buyback, obviously, just on the dividend, we're totally comfortable with the dividend. We've said many, many times we regard half the company as a yield stock, and we're going to treat it that way. And the dividend increases you've seen, I think they're entirely appropriate, and I would expect they continue over coming years without saying exactly what level they're at. On the buyback, I mean, we would take advantage of weakness in the stock. We will be prudent. We're creating -- this was a very difficult quarter and we accreted $2 billion. So it's not like we're not making money here. And I'd like to see the rule, I guess, in a couple of weeks, Sharon, right, we're getting the rule and then the first range of comments. We'll be doing buybacks through this year. We have $20 billion authorization from the Board. We won't be doing $20 billion, but we'll be doing buybacks, and we'll moderate it. I think this thing is going to take -- as I said, I'd be surprised if this is all done and dusted by -- where are we, '23, by the end of '26. I think that's sort of -- and that's 3.5 years, which is a lifetime in these industries. Steven Chubak: No, it's a fair poin”