“We expect net interest income for the fourth quarter on an FTE basis to be relatively stable to this quarter's $4.17 billion.”

In context

“rter and 1.0% lower than a year-ago as-adjusted. The linked quarter increase of $16 million or 0.4% was driven by higher compensation and employee benefit expense, primarily due to higher performance-based incentives. On a year-over-year basis, the $42 million decrease as-adjusted was driven by prudent expense management initiatives and the identification of operational efficiencies across the company. Turning to Slide 13, our common equity Tier 1 ratio of 10.5% as of September 30th increased 20 basis points from the second quarter. Looking ahead, we intend to balance our continued capital accretion of 20 basis points to 25 basis points per quarter with capital distributions, starting with a modest share repurchase in the near-term. I will now provide forward-looking guidance on Slide 14. We expect net interest income for the fourth quarter on an FTE basis to be relatively stable to this quarter's $4.17 billion. This guidance is reflective of our current expectation for more modest loan growth and continued QT impacts on deposits. Full-year 2024 net interest income on an FTE basis is expected to come in at the higher-end of our $16.1 billion to $16.4 billion range. For the full-year, we still expect mid-single-digit growth in total non-interest income as adjusted, but likely at the lower end of the range. We expect full-year non-interest expense as adjusted to be $16.8 billion. I'll now hand it back to Andy for closing remarks. Andy Cecere: Thanks, John. Third quarter results showcase the resiliency of our unique and differentiated business model, which featured solid top line revenue growth, supported by healthy linked quarter margin expansion as well as continued year-over-year income momentum”