Question-and-Answer Session
Thank you. [Operator Instructions]. Our first question comes from David Koning of Baird.
David Koning - Robert W. Baird & Co.
Yes, hi guys and nice results.
Jeffery W. Yabuki - President and Chief Executive Officer
Thanks David.
David Koning - Robert W. Baird & Co.
I guess first of all, if we just summarize kind of your thoughts around the environment, is it fair to say that its pretty much business is usual excluding the home equity in license headwinds maybe for of a couple personnel, but other then that it is generally business as usual?
Jeffery W. Yabuki - President and Chief Executive Officer
Yes, I mean for certainly for where we are today on July 29th, that certainly is the case and its hard to ignore all of the headlines and all of the noise out in the environment. And so I think our people would say they're quite pleased with the performance given all of that noise, but as much as I just have to agree with that I mean we are its largely business as usual.
David Koning - Robert W. Baird & Co.
And maybe if you would... could you kind of outline what would happen, tomorrow we wake up and we see headlines that a 100 banks failed, on the last week, or is there something like that. How would the scenario like that affect Fiserv?
Jeffery W. Yabuki - President and Chief Executive Officer
It's a great question. One of the things that's interesting is that as banks fail, the accounts don't go away and the transactions don't go away, they are merely transferred to either a receiver or to an acquirer or. And in those cases, we believe and obviously there are some regional differences but in many of those cases, we believe we will actually benefit from that kind of move given the scale that we have. So if we were to see situations where these banks failed, if we were the contract holder in that case, we suspect we would continued to process for the receiver and if they were acquired, we would believe that base in our scale, that more times than not we would actually be the core processor for those banks.
And again I'm assuming in this question, really talking more on kind of the community based institution front where we have a very significant amount of share and in those cases we think we would be likely neutral, but would be no less or neutral but in most cases we would actually be net positive.
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