Quarterly report pursuant to Section 13 or 15(d)

Net Interest Income and Noninterest Income (Tables)

v3.19.3
Net Interest Income and Noninterest Income (Tables)
9 Months Ended
Sep. 30, 2019
Revenue from Contract with Customer [Abstract]  
Disaggregation of Revenue
The table below presents the Corporation’s net interest income and noninterest income disaggregated by revenue source for the three and nine months ended September 30, 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 September 30
 
Nine Months Ended September 30
(Dollars in millions)
2019
 
2018
 
2019
 
2018
Net interest income
 
 
 
 
 
 
 
Interest income
 
 
 
 
 
 
 
Loans and leases
$
10,894

 
$
10,401

 
$
32,721

 
$
30,095

Debt securities
2,829

 
2,986

 
8,965

 
8,646

Federal funds sold and securities borrowed or purchased under agreements to resell
1,242

 
799

 
3,746

 
2,130

Trading account assets
1,319

 
1,172

 
3,962

 
3,506

Other interest income
1,632

 
1,607

 
4,916

 
4,556

Total interest income
17,916

 
16,965


54,310


48,933

 
 
 
 
 
 
 
 
Interest expense
 
 
 
 
 
 
 
Deposits
1,880

 
1,230

 
5,640

 
2,933

Short-term borrowings
1,876

 
1,526

 
5,725

 
4,123

Trading account liabilities
303

 
335

 
967

 
1,040

Long-term debt
1,670

 
1,813

 
5,227

 
5,179

Total interest expense
5,729


4,904


17,559


13,275

Net interest income
$
12,187


$
12,061


$
36,751


$
35,658

 
 
 
 
 
 
 
 
Noninterest income
 
 
 
 
 
 
 
Fees and commissions
 
 
 
 
 
 
 
Card income
 
 
 
 
 
 
 
Interchange fees (1)
$
963

 
$
925

 
$
2,827

 
$
2,850

Other card income
502

 
492

 
1,459

 
1,452

Total card income
1,465

 
1,417

 
4,286


4,302

Service charges
 
 
 
 
 
 
 
Deposit-related fees
1,690

 
1,682

 
4,908

 
5,008

Lending-related fees
285

 
279

 
809

 
828

Total service charges
1,975

 
1,961

 
5,717


5,836

Investment and brokerage services
 
 
 
 
 
 
 
Asset management fees
2,597

 
2,576

 
7,591

 
7,653

Brokerage fees
897

 
918

 
2,733

 
2,963

Total investment and brokerage services
3,494

 
3,494

 
10,324


10,616

Investment banking fees
 
 
 
 
 
 
 
Underwriting income
740

 
701

 
2,198

 
2,160

Syndication fees
341

 
241

 
887

 
958

Financial advisory services
452

 
262

 
1,083

 
861

Total investment banking fees
1,533

 
1,204

 
4,168


3,979

Total fees and commissions
8,467


8,076


24,495


24,733

Trading account income
1,707

 
1,717

 
6,390

 
6,421

Other income
446

 
870

 
1,259

 
1,531

Total noninterest income
$
10,620


$
10,663

 
$
32,144


$
32,685

(1) 
Gross interchange fees were $2.6 billion and $2.4 billion for the three months ended September 30, 2019 and 2018, and are presented net of $1.6 billion and $1.5 billion of expenses for rewards and partner payments. For the nine months ended September 30, 2019 and 2018, gross interchange fees were $7.4 billion and $7.0 billion and are presented net of $4.6 billion and $4.2 billion of expenses for rewards and partner payments.