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)
6 Months Ended
Jun. 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 six months ended June 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 June 30
 
Six Months Ended June 30
(Dollars in millions)
2020
 
2019
 
2020
 
2019
Net interest income
 
 
 
 
 
 
 
Interest income
 
 
 
 
 
 
 
Loans and leases
$
8,569

 
$
10,942

 
$
18,532

 
$
21,827

Debt securities
2,440

 
3,017

 
5,283

 
6,136

Federal funds sold and securities borrowed or purchased under agreements to resell
26

 
1,309

 
845

 
2,504

Trading account assets
1,008

 
1,321

 
2,255

 
2,643

Other interest income
497

 
1,635

 
1,723

 
3,284

Total interest income
12,540

 
18,224


28,638


36,394

 
 
 
 
 
 
 
 
Interest expense
 
 
 
 
 
 
 
Deposits
373

 
1,965

 
1,557

 
3,760

Short-term borrowings
(72
)
 
1,997

 
1,048

 
3,849

Trading account liabilities
223

 
319

 
552

 
664

Long-term debt
1,168

 
1,754

 
2,503

 
3,557

Total interest expense
1,692


6,035


5,660


11,830

Net interest income
$
10,848


$
12,189


$
22,978


$
24,564

 
 
 
 
 
 
 
 
Noninterest income
 
 
 
 
 
 
 
Fees and commissions
 
 
 
 
 
 
 
Card income
 
 
 
 
 
 
 
Interchange fees (1)
$
830

 
$
968

 
$
1,622

 
$
1,864

Other card income
419

 
478

 
899

 
957

Total card income
1,249

 
1,446

 
2,521


2,821

Service charges
 
 
 
 
 
 
 
Deposit-related fees
1,299

 
1,638

 
2,926

 
3,218

Lending-related fees
263

 
265

 
539

 
524

Total service charges
1,562

 
1,903

 
3,465


3,742

Investment and brokerage services
 
 
 
 
 
 
 
Asset management fees
2,483

 
2,554

 
5,165

 
4,994

Brokerage fees
939

 
916

 
2,015

 
1,836

Total investment and brokerage services
3,422

 
3,470

 
7,180


6,830

Investment banking fees
 
 
 
 
 
 
 
Underwriting income
1,523

 
792

 
2,371

 
1,458

Syndication fees
230

 
291

 
501

 
546

Financial advisory services
406

 
288

 
675

 
631

Total investment banking fees
2,159

 
1,371

 
3,547


2,635

Total fees and commissions
8,392


8,190


16,713


16,028

Market making and similar activities
2,487

 
2,381

 
5,294

 
5,149

Other income
599

 
324

 
108

 
347

Total noninterest income
$
11,478


$
10,895

 
$
22,115


$
21,524

(1) 
Gross interchange fees were $2.0 billion and $2.5 billion for the three months ended June 30, 2020 and 2019 and are presented net of $1.2 billion and $1.6 billion of expenses for rewards and partner payments. Gross interchange fees were $4.3 billion and $4.8 billion for the six months ended June 30, 2020 and 2019 and are presented net of $2.7 billion and $3.0 billion of expenses for rewards and partner payments for the same periods.