Annual report pursuant to Section 13 and 15(d)

Net Interest Income and Noninterest Income

v3.19.3.a.u2
Net Interest Income and Noninterest Income
12 Months Ended
Dec. 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 2019, 2018 and 2017. For more information, see Note 1 – Summary of Significant Accounting Principles. For a disaggregation of noninterest income by business segment and All Other, see Note 24 – Business Segment Information.
 
 
 
 
 
 
(Dollars in millions)
2019
 
2018
 
2017
Net interest income
 
 
 
 
 
Interest income
 
 
 
 
 
Loans and leases
$
43,086

 
$
40,811

 
$
36,221

Debt securities
11,806

 
11,724

 
10,471

Federal funds sold and securities borrowed or purchased under agreements to resell
4,843

 
3,176

 
2,390

Trading account assets
5,196

 
4,811

 
4,474

Other interest income
6,305

 
6,247

 
4,023

Total interest income
71,236


66,769


57,579

 
 
 
 
 
 
Interest expense
 
 
 
 
 
Deposits
7,188

 
4,495

 
1,931

Short-term borrowings
7,208

 
5,839

 
3,538

Trading account liabilities
1,249

 
1,358

 
1,204

Long-term debt
6,700

 
6,915

 
5,667

Total interest expense
22,345


18,607


12,340

Net interest income
$
48,891


$
48,162


$
45,239

 
 
 
 
 
 
Noninterest income
 
 
 
 
 
Fees and commissions
 
 
 
 
 
Card income
 
 
 
 
 
Interchange fees (1)
$
3,834

 
$
3,866

 
$
3,777

Other card income
1,963

 
1,958

 
1,899

Total card income
5,797

 
5,824


5,676

Service charges
 
 
 
 
 
Deposit-related fees
6,588

 
6,667

 
6,708

Lending-related fees
1,086

 
1,100

 
1,110

Total service charges
7,674

 
7,767


7,818

Investment and brokerage services
 
 
 
 
 
Asset management fees
10,241

 
10,189

 
9,310

Brokerage fees
3,661

 
3,971

 
4,526

Total investment and brokerage services
13,902

 
14,160


13,836

Investment banking fees
 
 
 
 
 
Underwriting income
2,998

 
2,722

 
2,821

Syndication fees
1,184

 
1,347

 
1,499

Financial advisory services
1,460

 
1,258

 
1,691

Total investment banking fees
5,642

 
5,327


6,011

Total fees and commissions
33,015


33,078


33,341

Market making and similar activities
9,034

 
9,008

 
7,102

Other income
304

 
772

 
1,444

Total noninterest income
$
42,353

 
$
42,858


$
41,887

(1) 
Gross interchange fees were $10.0 billion, $9.5 billion and $8.8 billion for 2019, 2018 and 2017, respectively, and are presented net of $6.2 billion, $5.6 billion and $5.1 billion of expenses for rewards and partner payments for the same periods.