“certainly, the exit rate is going to be a lot higher than even where we are today.”

In context

“g some of the NII guidance. Mike, because you noted that it's a ratable step up and it imply – the guidance implies about a $12 billion run rate, at least in the back half for NII on an FTE basis. Is it reasonable for us to assume or expect that the exit rate for the year is going to be north of $50 billion? I just want to make sure I clarify that. Mike Santomassimo: Well, Steve, I know you're really good at modeling this stuff. So I'll let you do the modeling. But I think as you pointed out, we're going to see step ups, right, as we go through the next -- as we did this quarter from last quarter. And that will continue into the third and fourth quarter. And now exactly what -- it's hard to use one quarter, as you know, it's just run rate for the rest of the -- for the following year. But certainly, the exit rate is going to be a lot higher than even where we are today. And then we'll have to just see what the environment is like at that point how to think about whether that's a clean run rate to build off of, or are there other things they're getting away. And as you can see, over the last -- even over the last three, four, five, six weeks, whatever it's been, the amount of volatility that's out there on the long end and what happens with loan growth, does it keep at the same pace. And so there's a lot of factors, I think, that go into what 2023 would look. But as you pointed out, our exit rate will be pretty healthy. Steven Chubak: Thanks. Mike, and just for one follow-up also on the NII guide. Just wanted to get a better sense as to what's being contemplated in terms of deposit paydown, the deposit paydown and repricing just came in much better than b”