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Schwab Reports Monthly Activity Highlights
WESTLAKE, Texas–(BUSINESS WIRE)– The Charles Schwab Corporation released its Monthly Activity Report today. Company highlights for the month of April 2023 include:
Commentary from the CFO
Chief Financial Officer Peter Crawford commented, “As previously noted in my commentary published on May 5, 2023, April marked the third consecutive month of deceleration in the daily average pace of cash realignment within bank sweep deposits and Bank Deposit Account (BDA) balances. This trend has continued into May, with the month-to-date pace improving nearly 50% versus April. We remain confident that client cash realignment activity will abate during 2023 – helping client cash on the balance sheet resume growing in proportion with the growth in total client assets over time.”