Synchrony Financial Q3 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 on direction of the net interest margin. So it seems like we've fully solidified the notion of hire for longer in '24. How should we think about how your net interest margin should perform in a higher for longer environment? And as we think about funding costs on the other side of the cycle, when we eventually get to rate cuts, although the forward curve keeps pushing that out, how sensitive should we think about your funding costs relative to cuts and Fed funds?

Question: Erika Najarian - UBS Investment Bank, Research Division - Analyst : Got it. And my second question is on capital. There's been a lot of discussion for card companies in particular with regards to how we should treat unfunded commitments and also the timing differences in terms of higher ACL ratios in terms of the numerator deductions. So could you give us a little bit of a preview, so to speak, on how the pending new capital rules could impact Synchrony? And how you're expecting that to impact your approach to capital management?