Glenn Schorr, Evercore ISI
Okay, that’s helpful. Last one from me is I didn’t hear anything on TLAC. If you could tell us where you think your ratio shook out net of the conservation buffer and the SIFI buffer, that would be helpful?
Bruce Thompson, Chief Financial Officer
Yes I think if you look at where we are from a TLAC perspective, we’re generally in the 21% type area and embedded in that 21% type area is the fact that that structured notes we’ve assumed for that purpose that we would not benefit from structured note funding and if we refinance out those structured notes, you’d pick up another 1% to 2% based on the current size of that footprint.
Glenn Schorr, Evercore ISI
Okay. I just want to make sure. The 21% is net of the conservation buffer and your SIFI buffer or gross of?
Bruce Thompson, Chief Financial Officer
No it’s gross of, that’s a gross of. So it’s a roughly 21% call it plus, another 1% to 2% for structured notes and then depending on the exact treatment of the buffers as we go through, that number would be reduced by the buffers.
Glenn Schorr, Evercore ISI
Got it. Perfect. Okay. Thank you very much.
Operator
Our next question will come from Jim Mitchell with Buckingham Research. Please go ahead.
Jim Mitchell, Buckingham Research
Good morning. Just a quick question on the balance sheet and NII. I appreciate the efforts to keep NIM flat, but to really get NII growing, we’ve got to start to see, I guess, the balance sheet on a net basis grow. I think your balance sheet was down close to $25 billion this quarter. At what point do we start to see the net balance sheet and the restructuring of the balance sheet start to give way to growth?
Bruce Thompson, Chief Financial Officer
Okay. I think what you didn’t see as we go forward is that we look out into our forecast and models, we would expect there to continue to be strong deposit growth throughout 2015 and as we referenced before, obviously the goal with that deposit growth is very much a focus to grow loans within our core customer segments. And as I referenced, we saw that within the global banking space this quarter, we saw it within wealth management, we’re seeing pickups in overall mortgage activity. So, I think you are likely to see the balance sheet creep up as deposits come in and as we look to grow loans, I just want to make sure though that we remind you, that we will continue to see these discretionary portfolio that’s got whole loans in it. That in this rate environment they will continue to repay, so you judge how we do on loan growth, you need to look at the core businesses. As I said we would expect to start to see the balance sheet move up. And at the same time, we’re trying to get things that don’t have a return and our quarter what we do off, but to your point, I think we’re largely through that.
Brian Moynihan, Chief Executive Officer
And I think, if you think about it, say two years ago, I think we sighted about $100 billion odd of non-core loans, that’s down and under 30, and a dominant part of that is still in the home equity area quite frankly. So in the card business and the business banking area where we had some stuff that’s put on by the predecessor company. But we’re largely through all that and that’s why you’re seeing some growth there. And then so, the card you saw grow its seasonal, but grew and it’s been stable for a number of quarters. The good home equity side is growing quite strongly. This stuff and home equity stuff high charge off contents to better decision economics of the company to run it. But the rest of the loan balance as we ought to see growth, with the exception of the sort of discretionary residential mortgage holdings which will continue to run down based on better view of what we want to do for management going forward.
