“The U.S. economy continued to be fueled by strong business investment and ongoing consumer spending… I think times are pretty good now with high volumes and high asset prices and fairly low credit losses and all that… However, large fiscal deficits, sticky inflation, elevated asset prices, rising interest rates and geopolitical conditions continue to shift under the surface. These forces may be manageable, but we remain prepared for a wide range of outcomes.” – CEO Jamie Dimon

“We're tightening up a little bit on credit. I think some of the credit terms have gotten a little bit loose. And you've heard us talk about that before and other people, a little too much PIK, a little too weak covenants, a little too much priming good assets, little too much, pushing on it. We just don't feel you have to chase that kind of stuff anymore.” – CEO Jamie Dimon

“What we see in the current data and what's been true, I would say, for the last few years is that the consumer has been quite resilient in the face of a number of headwinds that under different circumstances you might have expected would present a challenge… Fundamentally, the picture is pretty simple. The consumer is currently very healthy, primarily because of a healthy labor market. But the Central Bank needs things to cool off and that involves an aggressive extended rate cycle, almost by definition, that's going to involve higher unemployment, which will produce weaker consumer credit results.” – CFO Jeremy Barnum

“I would say that the corporate credit outlook is currently pretty stable. But obviously, there are issues out there, and we'll have to see how those flow through the performance of our borrowers, energy prices, fuel inputs, higher rates.” – CFO Jeremy Barnum

“We believe that Bank of America, our clearest economic signal comes from the daily activity of the 70 million clients and thousands of businesses that bank with us. And the message has been consistent. Consumers continue to spend with year-to-date money movement up 5% from 2025, and you can see that on Slide 3, and that's similar to what it was for the third quarter and similar to what has shown up so far in early October.” – CEO Brian Moynihan

“Our business clients invested and hired selectively. They supported solid growth in jobs and wages across various income levels in our customer base.” – CEO Brian Moynihan

“Consumer credit improved in line with expectations… Commercial criticized assets declined to their lowest level on a rate basis since 4Q '19 and nonperforming loans also fell from Q2. Together, these trends continue to point to a healthy consumer and commercial client base and credit quality.”  – CFO Alastair Borthwick

“At Investor Day last year, we shared an expectation we would deliver 5% to 7% NII growth in the medium term. And, during the course of 2026, we've raised that guidance first to 7% and then more recently to 8%, we still expect to hit that full year revised NII growth guidance of approximately 8%. And for 2027, we currently expect full year growth of NII to be 8% or more higher than 2026 and again, higher than our original 5% to 7% range.” – CFO Alastair Borthwick