Speaking at the Barclays Global Financial Services Conference, Bank of America (BAC) CFO Alistair Borthwick stated: “So when we put that in place at the beginning of the year, we thought we would be somewhere between $15.5B-$15.75B (in NII for this quarter). That would take NII up 6% to 7% for the year. And that would take us to a new record for NII. That when we refreshed that recently, we reiterated that guidance. No reason to change that at this stage. And that included two Fed cuts. So that’s sort of the assumption that we had used. That remains the case today. And as of right now, I’d say, yes, we’re on track for that.”
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