Mark Mason: Charles, I really appreciate the attempt there. But I’m not going to give any further guidance on the breakout of the NII. I will reiterate the ex-markets NII increase, by the way, to plus 46% but thanks for the question. I appreciate that.
Operator: And our next question comes from Vivek Juneja with JPMorgan.
Jane Fraser: Hi, Vivek.
Vivek Juneja: Hi. Thanks. Couple of questions. Number one, so capital, Jane and Mark, going back to that, should we expect that given what you’ve mentioned, given everything going on in the regulatory environment, ratio you’re at currently, it should grow in anticipation of what may come or likely to come with all the regulatory stuff? Or are you going to try and keep that closer to the 13.3%?
Jane Fraser: I think we’re going to see exactly what the framework is that comes out and then the implementation time frame for it and then look at making adjustments to plan, also hoping that the comment period is taken seriously and the different considerations I talked about earlier are taken into effect. Then we’ll work through water adjustments we make, pricing capital reallocation, et cetera, the playbook that you would expect the same one that we’ve done with [indiscernible] and we’ve done with a number of other pieces. And we would also hope to see our SCB in a different place for the same reasons we talked about earlier Vivek because there’s a lot of volatility in that SCB dependent on the scenario that comes out every year. And I would say, given the shifts we’re making in the business model, we’d expect to see that one come down.
Mark Mason: The only thing I’d add is the — again, the CET1 ratio of the 13.3% as of October 1 would be a 12.3% required level and 100 basis points of the management buffer. So that would be what we’d be held to as of October 1. As Jane mentioned, the NPR as it comes out, we’ll take a look at that and see if there are implications on the CET1 stack, but more likely implications on the risk-weighted assets, right? And what’s really important there aside from the very important points Jane made in terms of considering broader factors is the timing of the implementation of whatever that final rule includes and obviously, the more timing for implementation, the more of an ability it gets for the industry to think about how to absorb the implications there.
Vivek Juneja: But I’m presuming you want to go sooner rather than later because the market is going to expect that rather than take a full three years or whatever the Fed might give you.
Mark Mason: You know what, I’m really interested at this point in seeing the proposal, and then we’ll have a chance to kind of to really react as an industry and as a firm.
Vivek Juneja: Completely unrelated, if I may. Noninterest-bearing deposits, what are you seeing given you’re very heavily corporate driven. When I look at your point-to-point because you don’t give a full average balance sheet, it’s only interest-bearing related. But the noninterest-bearing is only available on a peer end. If I look at that, there was a big drop in the US this quarter. Anything unusual? Is that accelerating? What are you seeing amongst your clients, people still waking up? And what have you factored into your NII guidance for that?
