Annual report pursuant to Section 13 and 15(d)

Net Interest Income and Noninterest Income (Tables)

v3.22.4
Net Interest Income and Noninterest Income (Tables)
 12 Months Ended
Dec. 31, 2022
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 2022, 2021 and 2020. 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) 2022 2021 2020
Net interest income
Interest income
Loans and leases $ 37,919  $ 29,282  $ 34,029 
Debt securities 17,127  12,376  9,790 
Federal funds sold and securities borrowed or purchased under agreements to resell (1)
4,560  (90) 903 
Trading account assets 5,521  3,770  4,128 
Other interest income 7,438  2,334  2,735 
Total interest income 72,565  47,672  51,585 
Interest expense
Deposits 4,718  537  1,943 
Short-term borrowings (1)
6,978  (358) 987 
Trading account liabilities 1,538  1,128  974 
Long-term debt 6,869  3,431  4,321 
Total interest expense 20,103  4,738  8,225 
Net interest income $ 52,462  $ 42,934  $ 43,360 
Noninterest income
Fees and commissions
Card income
Interchange fees (2)
$ 4,096  $ 4,560  $ 3,954 
Other card income 1,987  1,658  1,702 
Total card income 6,083  6,218  5,656 
Service charges
Deposit-related fees 5,190  6,271  5,991 
Lending-related fees 1,215  1,233  1,150 
Total service charges 6,405  7,504  7,141 
Investment and brokerage services
Asset management fees 12,152  12,729  10,708 
Brokerage fees 3,749  3,961  3,866 
Total investment and brokerage services 15,901  16,690  14,574 
Investment banking fees
Underwriting income 1,970  5,077  4,698 
Syndication fees 1,070  1,499  861 
Financial advisory services 1,783  2,311  1,621 
Total investment banking fees 4,823  8,887  7,180 
Total fees and commissions 33,212  39,299  34,551 
Market making and similar activities 12,075  8,691  8,355 
Other income (loss) (2,799) (1,811) (738)
Total noninterest income $ 42,488  $ 46,179  $ 42,168 
(1)For more information on negative interest, see Note 1 – Summary of Significant Accounting Principles.
(2)Gross interchange fees and merchant income were $12.9 billion, $11.5 billion and $9.2 billion for 2022, 2021, and 2020, respectively, and are presented net of $8.8 billion, $6.9 billion and $5.5 billion of expenses for rewards and partner payments as well as certain other card costs for the same periods.