Raymond Chun: And the only thing I’d add, Paul, is in Canada, we have figured out a model that generate significant partnership between our Branch Banking and Wealth Management, and we are taking that model into the United States. And as Leo said, targeting really the mass affluent clients and we have a significant customer base within the TD AMCB that our mass market clients. We have seen a dramatic increase now in referrals from our stores to our Wealth advisers and we are continuing to scale our advisers in the U.S. and we have now had 300 advisers moving to 400 advisers by the end of this year. And what I would tell you is, on a monthly basis, we are continuing to see momentum and we suspect we will continue to drive growth in our U.S. Wealth franchise as we move forward.
Paul Holden: All right. Again, that’s it for me. Have a great afternoon. Thank you.
Leo Salom: Thank you, Paul.
Operator: Thank you. The next question is from Sohrab Movahedi from BMO. Please go ahead.
Sohrab Movahedi: Maybe just if we can move to Michael Rhodes talk a little bit about the deposit trends in Canada and would you expect to happen there first, please?
Michael Rhodes: Oh! Sure. Absolutely. I will start. I mean just as Leo mentioned, clearly, rate sensitivity in a higher rate environment is picking up. That being the case, our strategy has been and continues to be gathering core franchise accounts and think of the checking account as really the anchor of that. We have seen very, very strong account acquisition over the past quarter, actually recently and that’s actually been driven by a record number of New to Canada checking accounts for Q1 and so we are seeing very strong flows coming in. And the result of that is we are actually seeing that our non-term share of deposits is actually our share across the industry is actually increasing at a very nice pace actually on a year-over-year basis, think about 90 points or so of share gain for non-term deposits and so we are seeing that.
Now the overall industry that you are seeing some mix shifts, I mean, if you were to look at industry data, I think, what you would actually see is that, our mix shift has been much more moderate and we have been using very disciplined pricing across our depository products and so we have actually been pleased with how this has performed. And when you look at the NIM for the CAD P&C, I think, that provides some good evidence that this is being well managed.
Sohrab Movahedi: Mike, do you — Michael, do you expect that competitive dynamics to still allow you to exercise the discipline or do you think that eventually you will have to give into it?
Michael Rhodes: Well, so — the compare dynamic ebbs and flows, as you can imagine, week-to-week, month-to-month. And I’d say right now, we have been pretty disciplined, we have been very disciplined in terms of our pricing and has performed well for us and I don’t see any real changes that are coming in the near-term.
Sohrab Movahedi: Okay. And Kelvin, just very quickly, just given the dynamic kind of potential closing timing of the First Horizon, does your hedging — whether it’s capital or interest rate or the like, does that kind of dynamically roll forward? Is there going to be any incremental costs associated with that or how should we be thinking about that?
