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: Tu Duong - RBC Capital Markets, Research Division - Analyst
: I apologize, I jumped on a little late, so I'm not sure if you guys covered this. But on your margin, just looking at your sensitivity, if the -- if the yield
curves steepen, say, that the 10-year gets to 2% by the end of the year, how does that look for your NII going into 2022?
Question: Tu Duong - RBC Capital Markets, Research Division - Analyst
: Got it, Glenn. And just the front end, there's -- you bought this through the floors, is that correct? So it would indicate...
Question: Tu Duong - RBC Capital Markets, Research Division - Analyst
: Got it. All right.
Question: Tu Duong - RBC Capital Markets, Research Division - Analyst
: Got it. And then just if the growth environment, if it's a little slow this year on loans, you guys are accumulating a decent amount of capital. How
are you guys thinking about buybacks and valuation levels that are attractive to you guys and considering that?
Question: Tu Duong - RBC Capital Markets, Research Division - Analyst
: Great. And then just a last one for me. If the corporate tax rate gets to 28%, what would that do to your effective tax rate?
Question: Tu Duong - RBC Capital Markets, Research Division - Analyst
: All right. I appreciate it, Glenn. And Terry, good luck on the new chapter. It's a pleasure working with you.
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