“I think that it's certainly conceivable that we could cross within the next couple of quarters.”

In context

“In terms of the timing to go out further on the curve to be buying some of the traditional mortgage-backed securities that we have traditionally bought, that's really going to be more a function of what we see with client activity and to see how that evolves over time. Operator: And our next question is from Craig Siegenthaler from Bank of America. Craig Siegenthaler: Peter, I appreciate your updated commentary on AOCI. But it looks like you're going to cross $700 billion over the next few quarters. You're only about 3% away now. However, it seems like you disagree with this just given your expectation for cash sorting. So I was just wondering if you could elaborate on the comment you made in the prepared remarks. Peter Crawford: Sure. So I guess the short answer, Craig, is it depends. I think that it's certainly conceivable that we could cross within the next couple of quarters. It's also conceivable that if the client cash sorting evolves in a manner consistent with what we saw in 2015 through 2019, that could slow the balance sheet growth or potentially even reverse some of that balance sheet growth and push that date further back. So I guess either way, I would say we feel like it's a manageable issue for us to navigate. By virtue of -- I mean we're certainly cognizant of the implications on our regulatory capital. But sitting here as CFO and thinking about the profile of the business and how much capital do we need to support the business, it's not like an accounting convention changes the fundamental profile of the company. When we think about how we manage our capital and the level of capital that we want to maintain to support the business, when we think”