Mike Verdeschi
CFO, Charles Schwab
“[NIM expansion] Primary driver was that lending activity... the Pledged Asset Line up 59% year-over-year... it comes with an incremental spread over security.”
“In the scenario we assume that one hike, but that's very late in the year, that's December. It doesn't impact the financials for 2026... You would see further expansion in 2027. If rates resume a hiking pattern you'll see even more expansion.”
Mike Verdeschi
One-line summary: Schwab CFO; attributes 2026 NIM expansion to lending-mix (PAL/bank loans) not rate-beta, and frames a December hike as 2027 upside.
What they're known for
Brief factual context — fill in.
Why they matter to stock-market
Why this person's claims are tracked here — fill in.
Said
Speaker-attributed claims extracted from diarized sources. Each bullet mirrors one entry in quotes: frontmatter — keep them in sync.
-
On warsh-higher-for-longer-to-brokerage-nii-rerate, client-float-interest-to-custodian-exchange-nii:
"[NIM expansion] Primary driver was that lending activity... the Pledged Asset Line up 59% year-over-year... it comes with an incremental spread over security." — 2026-07-21-earnings-schw-q2-fy2026 (2026-07-21)
-
On warsh-higher-for-longer-to-brokerage-nii-rerate:
"In the scenario we assume that one hike, but that's very late in the year, that's December. It doesn't impact the financials for 2026... You would see further expansion in 2027. If rates resume a hiking pattern you'll see even more expansion." — 2026-07-21-earnings-schw-q2-fy2026 (2026-07-21)
Sources
Related
Cross-links — fill in.