“So we expect them to use that and expect us to move down to 50 basis points.”

In context

“e volatile in the SCB results. But clearly, there's perform to address that. I'm wondering if 130 basis points would still be an appropriate buffer and what you need to see to rethink that buffer? Brian Moynihan: So we believe an appropriate buffer is 50 basis points plus or minus -- yes, 50 basis points, and that's what we are running down to, pushing down before. We always want that to be utilized, for lack of a better word, by the core businesses because that's what we're here for. So we pay our dividends. We're basically using all the incremental capital to refer to shares and then letting the business use up the excess capital to grow. And at the high point, I think we were 12%. Now we're down to 11.5%. So they're using it up. What we just did is increase the amount of which we have. So we expect them to use that and expect us to move down to 50 basis points. Now remember we got this debate between averaging and not averaging. We'll see it happen. The SLR is really not relevant for us because frankly, other ratios would catch us before the SLR. The G-SIB calibration is critically important because people forgetting that, that has to happen because we're effectively using 2010, '11 or '12 data on the size of the economy and our company and other companies relative to size to judge how systemically important -- it was meant to be indexed. It hasn't been -- the proposals was indexed a year ago or so from then on, that wasn't really right because it skips all the run-up in size of the pandemic. So you have to see more of this come together. Expect us to work that capital down one way or the other way. But we're always trying to grow the company. A”