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We continue to invest in our corporate investmentbanking business with new co-heads of equity capital markets. We also hired a new head of trust services and chief fiduciary officer in our wealth and investment management segment and a new head of affluent and premier banking in consumer, small, and business banking.
Investmentbanking revenue of 1.5 Gross investmentbanking and markets revenue of 767 million was down 3% year on year, primarily driven by fewer large M&A deals. So, I think in terms of investmentbanking and markets, yeah, some -- you know, it's better than expected. Net charge-offs were 1.3
million investmentbanking transaction. Total revenues for the segment declined 21% to $82 million, driven by lower investmentbanking revenues and a 30% decline in non-cash MSR revenues from GSE lending. The other is that a lot of banks want to move collateral off of their balance sheets.
The rebound in Banking gained speed during the quarter, led by near-record levels of investment-grade debt issuance as improved market conditions enables issuers to pull forward activity. Our strong performance in both DCM and ECM drove InvestmentBanking revenue growth of 35% and overall banking revenue growth of 49%.
NII ex-markets was up $274 million or 1%, driven by the impact of balance sheet mix and securities reinvestment, higher revolving balances in card, and higher wholesale deposit balances, predominantly offset by lower deposit balances in banking and wealth management and deposit margin compression. NIR ex-markets was up $1.8 Expenses of $22.6
Any kind, collateral, non-collateral. Now, deposit is very unique because deposits are unsecured debt to the bank. They don’t have collateral. Now does the FDIC even know how much risk they’re bearing 0 when all the assets are so encumbered that they’re all pledged as collateral? RITHOLTZ: Right.
Our strategic decision to maintain currency exposure to the US dollar and other major currencies improved our net investment results across the portfolio by approximately 1.7%. Given our known liabilities, this is a strategy that works for us, I can't comment on others want to do. We also have the capacity to borrow an additional $1.9
GREW: So, I got a call and this one was ultimately from a recruiter who’s working for Lehman Brothers, an investmentbank, a bond house. In part because I again benefited from being in the mix when we were the second bank that was raided by the Japanese regulators after they’d gone into Credit Suisse. RITHOLTZ: Uh-oh.
HAMBURGER: They’re pulling your marketing collateral. You see the indicia of wealth, you don’t see the liabilities on the other side of it. He had experience working within, on the investmentbanking side, working for David Deveaux. HAMBURGER: Because it’s as simple as this. RITHOLTZ: Right.
And then very soon after, you know, bear Stearns fails, Lehman Brothers fails, the cracks were massive and there were so much for selling from the trading desks at the banks. There were so much for selling from the, something called SIVs, the special investment vehicles, right. That had mismatched assets. That’s an example.
We also closed a $525 million private ABS transaction that included significantly lower WACC collateral relative to our balance sheet at an execution of 102.3%. Total liabilities grew by $1.5 Please see our Terms and Conditions for additional details, including our Obligatory Capitalized Disclaimers of Liability.
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