Annual report pursuant to Section 13 and 15(d)

Net Interest Income and Noninterest Income (Tables)

v3.20.4
Net Interest Income and Noninterest Income (Tables)
 12 Months Ended
Dec. 31, 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 2020, 2019 and 2018. 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 23 – Business Segment Information.
(Dollars in millions) 2020 2019 2018
Net interest income
Interest income
Loans and leases $ 34,029  $ 43,086  $ 40,811 
Debt securities 9,790  11,806  11,724 
Federal funds sold and securities borrowed or purchased under agreements to resell 903  4,843  3,176 
Trading account assets 4,128  5,196  4,811 
Other interest income 2,735  6,305  6,247 
Total interest income 51,585  71,236  66,769 
Interest expense
Deposits 1,943  7,188  4,495 
Short-term borrowings 987  7,208  5,839 
Trading account liabilities 974  1,249  1,358 
Long-term debt 4,321  6,700  6,915 
Total interest expense 8,225  22,345  18,607 
Net interest income $ 43,360  $ 48,891  $ 48,162 
Noninterest income
Fees and commissions
Card income
Interchange fees (1)
$ 3,954  $ 3,834  $ 3,866 
Other card income 1,702  1,963  1,958 
Total card income 5,656  5,797  5,824 
Service charges
Deposit-related fees 5,991  6,588  6,667 
Lending-related fees 1,150  1,086  1,100 
Total service charges 7,141  7,674  7,767 
Investment and brokerage services
Asset management fees 10,708  10,241  10,189 
Brokerage fees 3,866  3,661  3,971 
Total investment and brokerage services 14,574  13,902  14,160 
Investment banking fees
Underwriting income 4,698  2,998  2,722 
Syndication fees 861  1,184  1,347 
Financial advisory services 1,621  1,460  1,258 
Total investment banking fees 7,180  5,642  5,327 
Total fees and commissions 34,551  33,015  33,078 
Market making and similar activities 8,355  9,034  9,008 
Other income (loss) (738) 304  772 
Total noninterest income $ 42,168  $ 42,353  $ 42,858 
(1)Gross interchange fees were $9.2 billion, $10.0 billion and $9.5 billion for 2020, 2019 and 2018, respectively, and are presented net of $5.5 billion, $6.2 billion and $5.6 billion of expenses for rewards and partner payments as well as certain other card costs for the same periods.