CLAIM #10481 · BK (BK) · 2026Q1 earnings call · Apr 16, 2026

“For euros and sterling, the betas roughly peaked at 80% on the way up, and for dollars and non-dollars, we expect betas to perform in a symmetrical fashion going up as well as going down.”

Dermot McDonogh · CFO

How to check this claim

Look at: Deposit beta on the way down for USD and non-USD currencies during a rate-cutting cycle, relative to the beta observed on the way up

It came true if: Deposit beta on rate decreases falls within approximately +/-5 percentage points of the corresponding up-cycle beta (i.e., roughly symmetrical)

Where: Management commentary on NII/deposit beta in quarterly earnings calls (10-Q/8-K transcripts)

Knowable after: 2026-07-31

In context

“s of the quarter played out, we saw clients holding higher levels of liquidity. As a consequence, you see the overall balance being a little bit elevated, and then you saw the mix between interest-bearing and non-interest-bearing. We attracted more non-interest-bearing than anticipated. Overall, on the US dollar side, it really was the balance and the mix that drove the NII outperformance in the quarter. Within particular businesses, it really was in Issuer Services and Asset Servicing specifically and Corporate Trust that were the two businesses that saw the notable benefit. As it relates to the non-dollar side of things, euro and sterling is really a smaller part of our overall portfolio. It only accounts for roughly 25% of the overall book, so it is not a meaningful contributor to NII. For euros and sterling, the betas roughly peaked at 80% on the way up, and for dollars and non-dollars, we expect betas to perform in a symmetrical fashion going up as well as going down. That is how we see it. Brennan Hawken: Great. Thank you for that. And then on, I guess, the artist formerly known as Pershing, we had really robust year-over-year both DARTs and AUC growth, but the revenue growth was not quite as robust as those two metrics. So could you maybe help unpack the primary drivers of the revenue growth and help us understand how we should model that going forward? Dermot McDonogh: Wealth Solutions, as we now are going to call it going forward, will be as good as the artist formerly known as Pershing. You saw net new asset growth in the quarter of roughly 3%, and I would just like to reaffirm our belief and commitment that we can grow the business’ net new assets at mid-single-digit growth over the coming years. Also, for the first time in a few quarters, it is”

Verify independently

SEC filings for BK ↗ · Quote is verbatim from the 2026Q1 earnings call.