Quarterly report pursuant to Section 13 or 15(d)

Net Interest Income and Noninterest Income (Tables)

v3.20.2
Net Interest Income and Noninterest Income (Tables)
9 Months Ended
Sep. 30, 2020
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, 2020 and 2019. For more information, see Note 1 – Summary of Significant Accounting Principles to the Consolidated Financial Statements of the Corporation’s 2019 Annual Report on Form 10-K. For a disaggregation of noninterest income by business segment and All Other, see Note 17 – Business Segment Information.
Three Months Ended September 30 Nine Months Ended September 30
(Dollars in millions) 2020 2019 2020 2019
Net interest income
Interest income
Loans and leases $ 7,894  $ 10,894  $ 26,426  $ 32,721 
Debt securities 2,130  2,829  7,413  8,965 
Federal funds sold and securities borrowed or purchased under agreements to resell 55  1,242  900  3,746 
Trading account assets 948  1,319  3,203  3,962 
Other interest income 459  1,632  2,182  4,916 
Total interest income 11,486  17,916  40,124  54,310 
Interest expense
Deposits 227  1,880  1,784  5,640 
Short-term borrowings (24) 1,876  1,024  5,725 
Trading account liabilities 212  303  764  967 
Long-term debt 942  1,670  3,445  5,227 
Total interest expense 1,357  5,729  7,017  17,559 
Net interest income $ 10,129  $ 12,187  $ 33,107  $ 36,751 
Noninterest income
Fees and commissions
Card income
Interchange fees (1)
$ 1,172  $ 963  $ 2,794  $ 2,827 
Other card income 396  502  1,295  1,459 
Total card income 1,568  1,465  4,089  4,286 
Service charges
Deposit-related fees 1,515  1,690  4,441  4,908 
Lending-related fees 302  285  841  809 
Total service charges 1,817  1,975  5,282  5,717 
Investment and brokerage services
Asset management fees 2,740  2,597  7,905  7,591 
Brokerage fees 883  897  2,898  2,733 
Total investment and brokerage services 3,623  3,494  10,803  10,324 
Investment banking fees
Underwriting income 1,239  740  3,610  2,198 
Syndication fees 133  341  634  887 
Financial advisory services 397  452  1,072  1,083 
Total investment banking fees 1,769  1,533  5,316  4,168 
Total fees and commissions 8,777  8,467  25,490  24,495 
Market making and similar activities 1,689  2,118  6,983  7,267 
Other income (259) 35  (151) 382 
Total noninterest income $ 10,207  $ 10,620  $ 32,322  $ 32,144 
(1)Gross interchange fees were $2.4 billion and $2.6 billion for the three months ended September 30, 2020 and 2019 and are presented net of $1.4 billion and $1.6 billion of expenses for rewards and partner payments as well as certain other card costs. Gross interchange fees were $6.7 billion and $7.4 billion for the nine months ended September 30, 2020 and 2019 and are presented net of $4.1 billion and $4.6 billion of expenses for rewards and partner payments as well as certain other card costs for the same periods.