Quarterly report pursuant to Section 13 or 15(d)

Net Interest Income and Noninterest Income

v3.19.1
Net Interest Income and Noninterest Income
 3 Months Ended
Mar. 31, 2019
Revenue from Contract with Customer [Abstract]  
Net Interest Income and Noninterest Income Net Interest Income and Noninterest Income
The table below presents the Corporation’s net interest income and noninterest income disaggregated by revenue source for the three months ended March 31, 2019 and 2018. For more information, see Note 1 – Summary of Significant Accounting Principles to the Consolidated Financial Statements of the Corporation’s 2018 Annual Report on Form 10-K. For a disaggregation of noninterest income by business segment and All Other, see Note 18 – Business Segment Information.
 
 
 
 
 
Three Months Ended March 31
(Dollars in millions)
2019
 
2018
Net interest income
 
 
 
Interest income
 
 
 
Loans and leases
$
10,885

 
$
9,623

Debt securities
3,119

 
2,804

Federal funds sold and securities borrowed or purchased under agreements to resell
1,195

 
622

Trading account assets
1,322

 
1,136

Other interest income
1,649

 
1,414

Total interest income
18,170

 
15,599

 
 
 
 
Interest expense
 
 
 
Deposits
1,795

 
760

Short-term borrowings
1,852

 
1,135

Trading account liabilities
345

 
357

Long-term debt
1,803

 
1,578

Total interest expense
5,795


3,830

Net interest income
$
12,375


$
11,769

 
 
 
 
Noninterest income
 
 
 
Fees and commissions
 
 
 
Card income
 
 
 
Interchange fees (1)
$
896

 
$
914

Other card income
479

 
488

Total card income
1,375

 
1,402

Service charges
 
 
 
Deposit-related fees
1,580

 
1,646

Lending-related fees
259

 
275

Total service charges
1,839

 
1,921

Investment and brokerage services
 
 
 
Asset management fees
2,440

 
2,564

Brokerage fees
920

 
1,100

Total investment and brokerage services
3,360

 
3,664

Investment banking fees
 
 
 
Underwriting income
666

 
740

Syndication fees
255

 
317

Financial advisory services
343

 
296

Total investment banking fees
1,264

 
1,353

Total fees and commissions
7,838


8,340

Trading account income
2,338

 
2,553

Other income
453

 
408

Total noninterest income
$
10,629


$
11,301

(1) 
Gross interchange fees were $2.3 billion and $2.2 billion for the three months ended March 31, 2019 and 2018, and are presented net of $1.4 billion and $1.3 billion, respectively, of expenses for rewards and partner payments.