“But I would think that 100 basis points, at least for now is sort of the bottom end of the range.”

In context

“s a follow-up, since you and Charlie have come on board, Wells has really done a very good job in returning that excess capital. I understand everything that's going on today, and you guys described it in your comments. Can you share with us, is there a buffer -- whenever the final numbers come out, are you guys planning to keep a 100 basis point buffer above that? Or any color there? Michael Santomassimo: Yes. We haven't decided exactly what it'll -- what the buffer will look like after Basel III is implemented. But so far, what we've said a number of times is that 100 basis points is about where we've been targeting. Obviously, we've been running above that for a while. But we'll -- as we get a better view of where these rules are going to shake out, we'll probably talk about that more. But I would think that 100 basis points, at least for now is sort of the bottom end of the range. Operator: And that was our final question for today. I will now turn it over to your speakers for closing remarks. Charles Scharf: All righty. Everyone, thank you very much. We look forward to talking to you again next quarter. Take care now. Operator: Thank you for your participation on today's conference call. At this time, all parties may disconnect.”