Closing Bell: Bank of America CEO on Earnings, Wells Fargo CFO Weighs In, Defense Downgrade 1/13/23
Closing Bell
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Are You Doing Any Layoffs?
In our consumer area we have $600 billion of checking accounts, those rates don't move much. Half of them are more non-interest bearing, so therefore the other half of a low cost deposits to us largely because that money is moving. Then you go on the far other end of the scale, which is in the corporate business, for large companies, they start moving their cash immediately out of zero when the rates moved up. And then all the parts in between. So investment cash is going to move, transactional cash tends to be sticky, or is there no interest rate accounts. Now what makes it sticky is $3,900 branches, high customer delight, the best digital franchise
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