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: Erika Najarian - UBS Investment Bank, Research Division - Analyst
: I'm sure this is the question I can ask, but I just wanted to clarify the loan growth expectation rose, the performance has been spectacular, the
revenues didn't move even though we had the higher loan growth and the higher rate outlook. And that's because of the higher beta assumed
and also lower fees, Rob?
Question: Erika Najarian - UBS Investment Bank, Research Division - Analyst
: Got it. And just as a follow-up question. How should we think about deposit growth from here? Bill, I think you've been the one that has been vocal
about the notion that if loan growth is positive, deposit growth should be positive. How should we weigh that relative to probably your willful
desire to work out the nonoperating deposits out of your balance sheet and QT?
Question: Erika Najarian - UBS Investment Bank, Research Division - Analyst
: Got it. And my last question, Bill, you said earlier you don't really see any bubbles within the banking system. I think a lot of investors are more
concerned about what's outside of the banking system. And interestingly, I'm sure you know this statistic very well. Corporate lending in terms of
the bank share of it has declined to 16%. I guess my question to you is, do you see an opportunity as rates rise and the economy slows down, is
some of that market share available back to banks in terms of what's happened in the private market? Or was that never credit that you wanted to
do anyway? And don't you have a unit within PNC that does third-party recoveries in terms of if you have corporate defaults, you could be a
third-party recoverer, if that's the term?
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JULY 15, 2022 / 12:00PM, PNC.N - Q2 2022 PNC Financial Services Group Inc Earnings Call
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