The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Christopher John Allen - Compass Point Research & Trading, LLC, Research Division - Analyst
: Maybe some just cleanup questions. In your trading books, were there any negative marks during the quarter? Obviously, you talked about the
potential for seasonal improvement moving forward, and the backdrop in certain areas looks pretty decent. Just wondering if the market movements
result in any negative markets out there in the first quarter?
Question: Christopher John Allen - Compass Point Research & Trading, LLC, Research Division - Analyst
: Understood. And then just maybe if you could provide us some color on the outlook for securities-based loans here. If I recall correctly, I think they
typically see some headwinds just in the higher rates and obviously more volatile environment. So how are you thinking about that component
of the loan book to drive growth there?
Question: Christopher John Allen - Compass Point Research & Trading, LLC, Research Division - Analyst
: Understood. And the last one for me. Just looking at the other operating expense line down sequentially and down year-over-year. Just any color
there? There was pretty decent declines.
Question: Christopher John Allen - Compass Point Research & Trading, LLC, Research Division - Analyst
: No. Other operating expenses, the $66.6 million on an adjusted basis?
Question: Christopher John Allen - Compass Point Research & Trading, LLC, Research Division - Analyst
: The total P&L.
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