“Ken. Yes, you got it right. We'll get some of it back at the back end of 2024. So we'll get a little bit in the fourth quarter, and then I'd say we get most of it back in '25, most of the remainder back in '26.”

In context

“e were running around 6% reserves. We're up to 7% against card now. So there might be a little bit coming back, but not that -- I'd rather have the growth to sop that up down to 6% in cards than give them back to reserves. Glenn Schorr: That's great color. Thank you for all that. Operator: We'll take our next question from Ken Usdin of Jefferies. Ken Usdin: Hey, thanks. Good afternoon. Just a technical clarification on that BSBY $1.6 billion. So I presume that you start to get that back mid quarter 4Q next year, given the November 15, 2024 termination, and then does it just run out ratably? Just wondering how -- over what exact period of time you get that $1.6 billion. Brian Moynihan: Okay. Hey, Ken, Happy New Year. It -- this year's ‘24, so. Ken Usdin: Correct, sorry. Alastair Borthwick: Ken. Yes, you got it right. We'll get some of it back at the back end of 2024. So we'll get a little bit in the fourth quarter, and then I'd say we get most of it back in '25, most of the remainder back in '26. That's the easiest way to think about it. Ken Usdin: So it's a little -- so is it straight line or is it a little bit front load, like, I just want to get -- is just a straight line divided by or it has a little bit of like a tail? Alastair Borthwick: No, it's got a little more in 2025 than 2026. Ken Usdin: Okay, I got it. Thank you. And just one question. Can you just remind us of brokerage fees this quarter felt the impact, I think you said it of the soft averages from this quarter. And so I think should we expect to see just from the markets bounce that we saw in the fourth quarter, that to play well into the first quarter starting points from the management fees perspective? Alastair Borthwick: Yeah. I think you should expect our global markets performance to continue right now. I mea”