“And as a reminder, we plan to increase our quarterly common stock dividend by 12% beginning in the 3rd quarter subject to quarterly board approval.”

In context

“inued to deploy capital to support client driven growth while at the same time prioritizing the return of capital to common shareholders, as evidenced by the $4 billion in buybacks. We ended the quarter at 12.8%, CET1 ratio under the binding standardized approach, approximately 120 basis points above the 11.6% regulatory capital requirement as we continue to target a CET1 ratio around 12.6% under the existing rules and requirements. While our SEV remains at 3.6% as Jane announced, we were pleased to see the continued improvement in our DFAST results and the corresponding implied SEV of 3.3% which marks a reduction for the 3rd consecutive year demonstrating the execution of our strategy and improved business performance which has resulted in growth in PPNR and greater resilience in stress. And as a reminder, we plan to increase our quarterly common stock dividend by 12% beginning in the 3rd quarter subject to quarterly board approval. Turning to the businesses on Slide 8. shows the results for services in the second quarter. Revenues were up 18%, driven by growth across both TTS and security services. Reflecting the benefits of our continued investments in the business. NII increased 18%, primarily driven by higher average deposit balances. NIR increased 16% as we continue to see strong activity and engagement with both corporate and commercial clients and across key high growth segments, including e commerce and fintech. Driving momentum across underlying drivers, with cross border transaction value up 13% and assets under custody and administration up 22%, which includes the impact market valuations, as well as new assets on boarded. Expenses increased 5%, driven by higher volume related expenses as well as higher pe”