Bank of America Corp Q3 2023 Earnings Call Transcript

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

Question: Erika Najarian - UBS Investment Bank, Research Division - Analyst : I have my first question is sort of two-pronged on the balance sheet. Alastair, if you could tell us sort of how much in cash flow do you forecast your HTM book will have in 2024 as you think about the moving pieces underneath your NII outlook? And for Brian, clearly, this held-to-maturity portfolio has been a thorn in the side of the stock. And so -- and no matter what we say to the investment community, the stock hasn't quite caught up. And I'm wondering, as you think about the statistics that you share with us every quarter, like net new checking adds, maybe give us a little more statistics in terms of the strength of that growth and the strength of that retention because I think that no matter what sort of print that you have on total deposits at the end of the quarter, there's always sort of pushback so long as the market is not yet confident that we've hit peak rates. So that's sort of a 2-part first question.

Question: Erika Najarian - UBS Investment Bank, Research Division - Analyst : Got it. And my second question is for you, Alastair. Do you have any economic ownership of Visa Class B shares remaining? Our understanding is until the litigation was settled, you weren't allowed to sell it other than to other banks in the initial consortium. But I'm wondering if you've sold any economic ownership through swap or if we still have it on the books because we haven't seen any disclosures on that recently.