Huntington Bancshares Inc Q2 2023 Earnings Call Summary

The following is excerpted from the question-and-answer section of the transcript.

Question: Erika Najarian - UBS Investment Bank, Research Division - Analyst : My first question is actually a clarification one, your 40% to the data, the unfold deposits, correct? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. JULY 21, 2023 / 1:00PM, HBAN.OQ - Q2 2023 Huntington Bancshares Inc Earnings Call

Question: Erika Najarian - UBS Investment Bank, Research Division - Analyst : Yes. Because a lot of your peers gave it on interest-bearing. So I just wanted to make sure that just touted that one, Scott was asking that question. And my real question is, I think the market really close sort of the expansion of the net interest income outlook. Could you tell us about how you're thinking about the elasticity of deposit license on the way down? I think to your point earlier, Zach, there are a lot of investors that are thinking about where you cut for next year. And they're wondering how much power do banks have price down if rates stay at a relatively high level versus what we've seen in a while?

Question: Erika Najarian - UBS Investment Bank, Research Division - Analyst : Got it. And just as a follow-up to that, if I may. You're holding a lot of cash. And obviously, there's not a lot of motivation to deploy that. Again, as we think about next year in the same scenario, you're still going to be earning a lot of your cash on your cash flow 0% risk weight if the Fed moderately. And I guess outside of better loan growth, Zach, what would be the factors for you to normalize, start normalizing that cash to a level that's more appropriate? Or do you feel like with all the liquidity rolls down the pipe, you might as well just hold it there for now since you're getting paid for it anyway?