Mainly from loan and deposit growth; benefit from securities in Citi’s (C) investment portfolio repricing into higher yielding assets; partially offset by various scenarios around short end rates declining in both the U.S. and outside the U.S., FX impacts, and the potential for card late fee reduction in 2025. The yield on the investment portfolio this past quarter was ~3.55%; The investment securities portfolio has a duration of ~2.4 years; Approximately 30% of the securities in the investment portfolio are expected to mature or prepay in 2025 and will be redeployed into higher yielding cash and securities at market rates which are currently between 4% – 5%. NII will also be a function of interest rate levels and the shape of the yield curve.
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