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      "text": "Slide 11 - NII ex. Markets outlook increasing to ~$84B due to First Republic, though sources of uncertainty remain\n1. See notes 1 and 2 on slide 20\nSlide 12 - System-wide deposit levels will depend on how QT interacts with RRP and customer behavior\n1. Totals may not sum due to rounding\n2. Includes items from both the Fed balance sheet and all Commercial Banks balance sheets that influence deposits but are not reflected in the other data presented\nSlide 13 - Our 2023 expense outlook is unchanged excluding expenses associated with First Republic\n1. See note 4 on slide 20. Totals may not sum due to rounding\nSlide 14 - We continue to invest in positioning the Firm for long-term success\n1. Other includes selected LOB-related acquisition expenses and investments associated with the company's real estate expenses\nSlide 16 - ...but we have strong organic capital generation capabilities\n1. Dividends include common and preferred stock dividends\n2. Represents the median consensus of research analyst estimates as of April 27, 2023\nSlide 17 - Credit remains benign, but we expect continued normalization throughout the year\n1. As of March 31, 2023\n2. Wholesale includes allowance for credit losses in Corporate\n3. Totals may not sum due to rounding; 4Q21 and 1Q23 total allowance include $42mm and $90mm, respectively, on investment securities\n4. On January 1, 2023, the Firm adopted changes to the TDR accounting guidance. The adoption of this guidance resulted in a net reduction in the allowance for loan losses of approximately $600mm\nSlide 18 - We are positioned to generate strong ROTCE in a variety of recessionary scenarios\n1. See note 3 on slide 20. ROTCE ranges indicated are estimates",
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