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                              September 21, 2023

       Peter Crawford
       Chief Financial Officer
       The Charles Schwab Corporation
       3000 Schwab Way
       Westlake, TX 76262

                                                        Re: The Charles Schwab
Corporation
                                                            Form 10-K for the
Fiscal Year Ended December 31, 2022
                                                            Form 10-Q for the
Quarterly Period Ended June 30, 2023
                                                            File No. 001-09700

       Dear Peter Crawford:

              We have reviewed your filing and have the following comments. In
some of our
       comments, we may ask you to provide us with information so we may better
understand your
       disclosure.

              Please respond to these comments within ten business days by
providing the requested
       information or advise us as soon as possible when you will respond. If
you do not believe our
       comments apply to your facts and circumstances, please tell us why in
your response.

                                                        After reviewing your
response to these comments, we may have additional comments.

       Form 10-K for the fiscal year ended December 31, 2022

       Management's Discussion and Analysis of Financial Condition and Results
of Operations
       Market Risk
       Economic Value of Equity Simulation, page 51

   1.                                                   We note that you state
that management uses Economic Value of Equity to measure
                                                        interest rate risk.
However, you do not present any quantitative or qualitative analysis of
                                                        your EVE during the
period, nor the key assumptions that management uses to evaluate
                                                        and manage exposure to
this risk. Provide us with your analysis supporting your decision
                                                        not to provide
information related this measure of market risk. Please refer to Item 305 of
                                                        Regulation S-K. Also,
revise your disclosure to address the key metrics management uses
                                                        in evaluating EVE to
manage your exposure to market risk, and explain any significant
                                                        changes made as a
result of monitoring EVE in reducing your exposure to market risk.
 Peter Crawford
FirstName
The CharlesLastNamePeter  Crawford
            Schwab Corporation
Comapany 21,
September  NameThe
               2023 Charles Schwab Corporation
September
Page  2    21, 2023 Page 2
FirstName LastName
Form 10-Q for the quarterly period ended June 30, 2023

Management's Discussion and Analysis of Financial Condition and Results of
Operations
Risk Management
Market Risk, page 18

2.       We note the disclosure that beginning in 2023, you began to utilize
interest rate swap
         derivative instruments to assist with managing interest rate risk;
however, we do not see
         fulsome disclosure discussing and quantifying the use of derivatives
used to manage your
         interest rate risk. Please provide a qualitative discussion of how
derivatives are used to
         manage interest rate risk, including the volume and types of
derivatives and any additional
         details regarding the changes in strategy during the periods
presented. See Item
         305(b)(1)(ii) of Regulation S-K. Additionally, consider disclosing
quantitative
         information about the impact the use of derivatives had on managing
your interest rate
         risk and clarify whether the disclosed outputs from your NIR and EVE
simulation reflect
         the impact of any derivatives used to manage interest rate risk.
3.       We also note that key assumptions in your interest rate sensitivity
analysis include the
         projection of interest rate scenarios with rate floors, rates and
balances of non-maturity
         client cash held on the balance sheet, prepayment speeds of
mortgage-related investments,
         repricing of financial instruments, and reinvestment of matured or
paid-down securities
         and loans. Please revise your disclosures in future filings to
describe and define the
         various identified assumptions, whether you use proprietary or
third-party data, how the
         data are used in your modeling and any unique facts and circumstances
about them, such
         as how they have or may respond to unknown facts and circumstances,
such as exogenous
         events. Additionally, please disclose changes in any assumptions used
for any
         comparative period, including changes to the data source used or
significant changes in
         the actual assumption itself due to, and for example, internal data,
market conditions or
         significant changes in the judgments and determinations made by
management as you
         refine your modeling over time. Please see Item 305(a)(1)(ii)(B) of
Regulation S-K.
4.       In your 10-K you state that the Chief Risk Officer, Global Risk
Committee and its sub-
         committees, and the Board Risk Committee have significant roles in
monitoring and
         providing oversight for risk management and responding to emerging
risks. We also note
         that during 2023, you have seen significant fluctuations in the
composition of your
         funding sources as clients have moved away from keeping money in your
deposit
         products, and seen a decline in your net interest revenue. We also
note the statement in the
         press release furnished as an exhibit to the April 17, 2023 Form 8-K
attributing the
         reduction in deposit volumes to your clients' preference for other
products
         within the Schwab family. Revise your disclosure in future filings to
discuss the roles of
         your risk management oversight process in identifying and addressing
changes to the mix
         of Schwab products held by your clients during the reported period.
Discuss any instances
         where the relevant committee or sub-committee had to approve a change
in order to
         maintain compliance with your established risk profile, or accepted an
increased risk
 Peter Crawford
FirstName
The CharlesLastNamePeter  Crawford
            Schwab Corporation
Comapany 21,
September  NameThe
               2023 Charles Schwab Corporation
September
Page  3    21, 2023 Page 3
FirstName LastName
         exposure compared to your tolerances set before the Federal Reserve
began increasing
         rates and your clients allocation preferences changed. Also, disclose
how the Committees
         and the rest of your oversight process distinguish between changes in
client preferences
         among your products and a more fundamental move away from Schwab
products and any
         significant actions taken as a result of that evaluation during the
reported period. For
         instance, discuss management's actions in response to deposit outflows
on your ability to
         maintain sufficient capital adequacy for both the parent company and
your banking
         subsidiary to avoid restrictions in your ability to access funding
sources including
         advances or brokered deposits.
Liquidity Risk, page 20

5.       You discuss changes that you have made to your funding sources,
including the sale of
         additional long term debt, issuing brokered deposits and FHLB
advances. We also note
         that the debt rating for your long term debt was lowered by at least
one rating
         agency. Revise your disclosure in future filings to address any
material impact from
         changing the mix of funding sources, including the increase in
interest and other expenses
         associated with those funding sources as well as any change in
duration. Also, disclose
         any material regulatory implications from choosing those funding
sources, including any
         impact on your ability to rely on the source in the event that you or
your banking
         subsidiary were to face capital adequacy concerns.
Risk Factors, page 68

6.       We note that in your Form 10-K, you provide a brief risk factor that
discusses the
         potential impact on your business from a substantial decrease in
liquidity. However, in the
         first two reported quarters of 2023, you appear to have seen a
significant outflow of
         deposits, an outflow that appears to have been particularly pronounced
during the period
         immediately following the collapse of Silicon Valley Bank. However,
you did not update
         the risk factor to discuss your actual experiences with changes to
your deposit mix, the
         availability of liquidity or the costs and availability of replacement
funding sources, nor
         did you discuss the significant events that impacted the availability
of liquidity. Please
         revise your risk factors disclosure. Please ensure that your risk
factors discussion is
         updated to reflect significant changes to the risks.
        We remind you that the company and its management are responsible for
the accuracy
and adequacy of their disclosures, notwithstanding any review, comments, action
or absence of
action by the staff.

       You may contact Marc Thomas at (202) 551-3452 or Robert Klein at (202)
551-3847 if
you have questions regarding comments on the financial statements and related
matters. Please
contact Robert Arzonetti at (202) 551-8819 or Christian Windsor at (202)
551-3419 with any
other questions.
 Peter Crawford
The Charles Schwab Corporation
September 21, 2023
Page 4


FirstName LastNamePeter Crawford              Sincerely,
Comapany NameThe Charles Schwab Corporation
                                              Division of Corporation Finance
September 21, 2023 Page 4                     Office of Finance
FirstName LastName