“So, I would say it's not something we, by any means, rule out altogether, but it's also not something we're looking to do in the near term.”

In context

“uld likely wait until you're at your capital target at which point you would maybe consider pursuing that path? Peter Crawford: Yes. So, thanks for the question, Steven. So, I would say, I know we've gotten this question -- we've gotten this question a fair amount. And our thinking on repositioning trade hasn't really changed. We certainly understand the benefit of that on accelerating the paydown of supplemental borrowing, accelerating the net interest margin accretion, earnings accretion that we expect to happen over time. At the same time, we're very cognizant of, and very mindful, of doing anything that would jeopardize the trust our clients place in us, especially for the sake of, moving forward, something that we expect will happen on its own. And so that's why we haven't done that. So, I would say it's not something we, by any means, rule out altogether, but it's also not something we're looking to do in the near term. Operator: Next, we'll go to the line of Brennan Hawken from UBS. Please go ahead. Brennan Hawken: I'd like to follow up on the question around the shift to third-party banks as a place for deposits. So just at a high level, I'm curious if you could explain to us the strategic shift here because we spoke about it a year ago at the last what used to be the winter business update, now is the Investor Day, although I guess -- well, in 2023, it was at a different timing. And there was a defense of using the bank subsidiary. So, what led you to shift there? And then maybe just like timing-wise, when should we expect this to happen? And how do you strike the -- you referenced that you want liquidity above the need to fund the loans. How should we be thinking about what the bank will actually loo”