“For the full year, we expect to achieve mid-single-digit growth in noninterest income as adjusted.”

In context

“ederal Reserve released its 2024 stress test results. Consistent with the industry, the Fed's modeled results were largely reflective of an assumption taken to significantly lower fee income and increase provision expense in stress, which resulted in a 60 basis point increase to our preliminary stress capital buffer of 3.1%. We remain well-capitalized and prepared to manage any potential industry stress that might result from a severe macroeconomic downturn. I will now provide forward-looking guidance on Slide 14, which is consistent with our previous guidance. We expect net interest income for the third quarter on an FTE basis to be relatively stable to the second quarter. Full year 2024 net interest income on an FTE basis is expected to be in the range of $16.1 billion to $16.4 billion. For the full year, we expect to achieve mid-single-digit growth in noninterest income as adjusted. We continue to expect full year noninterest expense as adjusted of $16.8 billion or lower. Let me now turn it back to Andy for closing remarks. Andrew Cecere: Thanks, John. I'll finish up on Slide 15. Second quarter results highlighted the resiliency of a business model that features a highly diversified revenue mix, strong risk management discipline, and a robust earnings and capital generation profile. We remain focused on our core competencies and are aggressively building upon our key differentiators. The investments we're making across the businesses are showing through in the form of enhanced customer acquisition, improved client experiences, and deeper relationships that are further propelling our growth story. Expense management is a key priority for us and we remain focused on ou”