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: Gabriel Dechaine - National Bank Financial, Inc., Research Division - Analyst
: Two questions. One, I appreciate you don't want to quantify anything on this potential fine related to the AML program. But you do give a potential
loss range tied to various factors of $0 to $1.26 billion. I'm wondering if that may be captured in there, is that range has been pretty static for the
last little while, so maybe not.
And then my second question, to me on the buyback news, I think that does a lot to address the questions you've been facing with regards to
deployment of your very large excess capital position. I guess if I'm thinking from a modeling standpoint, I'm going to take -- make an assumption
about activity and take my share count down, and that will have a positive impact on EPS. But then the opportunity cost, what kind of interest rates
should I assume on that capital deployed? A few years ago, it would be insignificant or close to it. Today, just parking in T-bills, that could be a lot
of money.
Question: Gabriel Dechaine - National Bank Financial, Inc., Research Division - Analyst
: I'm not suggesting otherwise. I'm just trying to fine-tune the impact, if you will. Sometimes I try to model precisely, but -- and maybe we could take
it offline.
Question: Gabriel Dechaine - National Bank Financial, Inc., Research Division - Analyst
: All right. Enjoy the rest of your summer.
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