bank of america earnings call transcript

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For further information on those forward-looking comments, please refer to either our earnings release documents, our website or our SEC filings. But it basically, if you look at deposit, which I think is what you're referring to, Gerard, we are now more mobile than we are at the branches and have been for about five quarters, and then the ATMs are still half, the mobile is a little over like 27% or something like that, and branches are the rest. So the NII resiliency has been quite impressive. Fair enough. Finally, turning to slide 25, we show All Other, which reported a profit of $262 million; comparing against Q3 '19 is tough, because that period included the $2.1 billion pre-tax impairment charge on our Bank of America Merchant Services joint venture. We're back on that basic operating leverage through NII stability to growth and expense flatness. Bank of America was involved in seven of the Top 10 debt deals, and six of the Top 10 equity deals in the quarter, based upon Dealogic data this performance drove a 50 basis point improvement in market share for the full year. The second thing I want to mention, is the effective tax rate in the quarter of approximately 14%. Brian, can you remind us, you touched on, in some of your comments already about the number of checks that were processed five years ago versus today. We finished another strong year in 2019 for the team, and they did a great job growing the earnings. Just one more, maybe on GWIM. I think you mentioned a couple of times that NII expectation for 2020 being down modestly from 2019 for your full year. At the end of day, the reason why we have securities and mortgage-backed securities and treasuries is simple. So -- but I would just emphasize, we have a sizable buffer right now. Bank of America, N.A. 15 branches to 20 branches etc and continue to do that. As you know, we have been renovating and adding financial centers, adding sales professionals and advancing digital capabilities. Steven Chubak -- Wolfe Research -- Analyst. If you look across the chart, Paul showed you when you see '17, '18 and '19 in the expenses per quarter, running $13.1 billion, $13.3 billion etc, think about how much we've done in there, in terms of hundreds of new branches.

No, no, not loan sales, the run-off is running at about $1.5 billion, $2 billion per quarter. Good forward look there, Paul, on the longer term. See what makes Bank of America a great place to work, Bank of America CFO Paul Donofrio to Participate in Bank of America Global Research 25th Annual Financials CEO Virtual Conference on September 24, Bank of America Announces Redemption of Senior Notes, Bank of America Declares Preferred Stock Dividends, Bank of America to Participate in Barclays Global Financial Services Conference on September 15, Bank of America Announces Redemption of €1.0 Billion of Floating Rate Senior Notes, Due September 21, 2021, Barclays Global Financial Services Conference Presentation, Sign up here to receive certain investor information delivered to your desktop, Download the latest update of Adobe Reader.

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