“And so, we're all in a little bit of uncharted territory here, but I do think that there's some opportunity potentially in the second half of the year as we look at the forecast, but it will be dependent upon how we fare over the next quarter or two.”

In context

“oderate declines across the deposit base stabilizing later in the year, but some moderate declines as we look over the next few quarters. And then we would expect the betas to continue to move up a little from here. And then when you think about the pacing of it, the first half of the year will certainly be higher than the second half of the year if all of these things play out. And so, you shouldn't expect a really big step down in the first quarter for sure. And then I think that provides the opportunity potentially in the second half of the year if things -- if we don't see that step down in deposits or the betas are a little bit better than what we expected. And then I'd just point out is even as we looked at the fourth quarter, betas were a little bit better than what we had modeled. And so, we're all in a little bit of uncharted territory here, but I do think that there's some opportunity potentially in the second half of the year as we look at the forecast, but it will be dependent upon how we fare over the next quarter or two. Kenneth Usdin : Okay. Got it. And so, second question, I heard your commentary about the 1.3 billion of op losses and the fact that the RPO is down to way down to 1.4 billion. Just how do you kind of help us understand your range of confidence? Obviously, last year, op losses ended at 7 billion as you made progress. So, how wide the range of expectations around your confidence on that level of op loss for the year? Mike Santomassimo : Well, I think if you look at what we've said over the last quarter or two, there's been roughly in the third and fourth quarter 200, 250 just BAU op losses that have happened, just broad normal stuff that you should expect to continue. So, that gives you sort of a bottom end. And then I think the rest of it is -- will be a little dependent upon how we work t”