“It would grow -- it would grow with the markets and stuff that we have other efficiencies and offsets under that growth.”

In context

“w, for years has gone down in expenses, the idea of growing 2.3 is not that hard a concept, albeit the growth in the back half of this year was a big -- you know, driven by the incentive explosion that happened, you know, because of the explosion of markets. You know, when they took off, our teammates did a great job of capturing revenue and incentives on. Jim Mitchell: Okay. Yes, no, that's fair. Thank you very much. Operator: We'll move next to Vivek Juneja with JPMorgan. Your line is open. Vivek Juneja: Hi. I have two separate questions. First one, with expenses, just want to clarify to the last question, Brian, what you said. So, what are you assuming for incentive comp in '25 in your guidance? Is it flat year on year? Are you assuming some increase? Any color on that? Brian Moynihan: It would grow -- it would grow with the markets and stuff that we have other efficiencies and offsets under that growth. Vivek Juneja: Okay. Second one, I guess, I can't leave you disappointed. I must -- given you and Alastair love NII, so let me ask a little nitty question on that. BSBY hedges, since those started to accrete this quarter, how much was the benefit this quarter? And what is the cadence of that as we look out over '25? Alastair Borthwick: So, we think about the BSBY accreting back into the P&L, kind of like the same way we do with the other cash flow swaps, Vivek. So, I'd say a couple hundred this quarter. And then, when we give you the guidance with all the cash flow swaps, it's all included in there. So, when I say that we think this year, Q1, should be up modestly, that is after the 250 million of day count adjustment. And it's including deposit growth, loan growth, and all the cash flow s”