John McDonald, Sanford Bernstein
Okay, got it. And in terms of net interest income, the puts and takes, did you say how big the Dillard’s portfolio was? Or could you tell us?
John Shrewsberry, Chief Financial Officer
You know, we can’t – because of the nature of the contract we have with our customer. You could see the amount of loan growth in the credit card portfolio from quarter to quarter. That’s a combination of the organic growth and the Dillard’s portfolio.
John McDonald, Sanford Bernstein
Okay. And then any color you could offer on what opened up in terms of opportunity to deploy the liquidity this quarter? Anything driving that in particular?
John Shrewsberry, Chief Financial Officer
Well, some clarity around our liquidity framework, clarity around — further clarity around LCR, further clarity on what kind of cash versus other HQLA we would need to have. I think that emboldened us a little bit in terms of finding an entry point. But as we have said, these are difficult times for finding attractive entry points into fixed income markets when we are thinking about making that switch.
John Stumpf, Chairman and Chief Executive Officer
And John, also we had, as you know, continued very strong deposit growth.
Joe Morford, RBC Capital Markets
Got it. Okay, great. And just one last quick thing on TLAC, John. Rules aren’t finalized, we do have a proposal. How do you feel on that? And would you have to do some gradual preparing for that as you go forward?
John Shrewsberry, Chief Financial Officer
Sure. Well, depending on where the ultimate rule comes out versus the range that’s been published – at the low end of the range we have got less to do and at the high end of the range we would have more to do. There is still a lot a lot to know and there’s some wood to chop in the regulatory realm to get to the final rule.
We are on the record, as pointing out that we really don’t… the industry doesn’t understand the need for the magnitude of the total buffer that’s being… or loss-absorbing capacity that’s being talked about here. We certainly find that it lands a little bit harder on people who seem to have less risky business models, those of us who are deposit funded with a little bit more straightforward deposit taking and lending type of activity. We like some clarity on why that makes sense. But however it lands, within the range that’s been published, the approach for Wells Fargo is going to be to add more term debt at the holding Company level and that will have a P&L consequence that we have to navigate through. It’ll be substantially more manageable at the lower end of the range and somewhat more expensive at the higher end of the range.
Joe Morford, RBC Capital Markets
Okay, thanks.
Operator:
Your next question will come from the line of Erika Najarian, Bank of America. Please go ahead.
Erika Najarian, Bank of America
Yes. Good Morning. Thank you. I appreciate the color that you have given us so far on what you expect for mortgage originations in the 1st Quarter but as we think about the full year, and think about your comments earlier – high consumer confidence, accelerating GDP, in the context of potentially lower long rates for longer, is it possible that from an industry level, the origination growth for this year could surpass the current [inaudible 29:49] forecast of 6%?
