8-K

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported) – July 20, 2010

THE BANK OF NEW YORK MELLON CORPORATION

(Exact name of registrant as specified in charter)

Delaware	000-52710	13-2614959
(State or other jurisdiction of incorporation)	(Commission File Number)	(I.R.S. Employer Identification No.)
	One Wall Street New York, New York (Address of principal executive offices)	10286 (Zip code)

Registrant’s telephone number, including area code – (212) 495-1784

N/A

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

ITEM 2.02. RESULTS OF OPERATIONS AND FINANCIAL CONDITION.

On July 20, 2010, the Registrant conducted a conference call and webcast with respect to results of operations second quarter 2010 for The Bank of New York Mellon Corporation. In conjunction with the conference call and webcast, the Registrant made available on its website, beginning on July 20, 2010, a Quarterly Earnings Review and Financial Trends information. The Quarterly Earnings Review is included as Exhibit 99.1 to this report and the Financial Trends information is included as Exhibit 99.2 to this report. Both exhibits are “furnished” pursuant to General Instruction B.2. of Form 8-K and are not “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 and are not incorporated by reference into any filings the Registrant has made or may make under the Securities Act of 1933.

ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS.

Exhibit 99.1 and 99.2 to this report contains information which may be considered to constitute “non-GAAP financial measures” as defined in Item 10 of Regulation S-K. The Registrant’s management believes that these measures are useful to the investment community in analyzing the financial results and trends of ongoing operations. Management believes that they facilitate comparisons with prior periods and reflect the principal basis on which management monitors financial performance. Management also believes this presentation allows investors to more appropriately evaluate the impact of revenues from both taxable and tax-exempt sources.

         (d) EXHIBITS.

Exhibit Number	Description
99.1	The Bank of New York Mellon Quarterly Earnings Review for second quarter 2010 dated July 20, 2010.
99.2	The Bank of New York Mellon Corporation 2Q 2010 Financial Trends.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

	The Bank of New York Mellon Corporation   (Registrant)
Date: July 26, 2010	By:	/s/ Arlie R. Nogay
	Name:	Arlie R. Nogay
	Title:	Corporate Secretary

EXHIBIT INDEX

Number	Description	Method of Filing
99.1	The Bank of New York Mellon Quarterly Earnings Review for second quarter 2010 dated July 20, 2010.	Furnished herewith
99.2	The Bank of New York Mellon 2Q 2010 Financial Trends	Furnished herewith

EX-99.1

Exhibit 99.1

BNY Mellon

Quarterly Earnings Review

Financial Results

July 20, 2010

Table of Contents

Non-GAAP Financial Measures	2
Second Quarter 2010 Financial Highlights	3
Financial Summary/Key Metrics (continuing operations)	4
Assets Under Management/Custody and Administration/Market Indices	5
Fee and Other Revenue	6
Net Interest Revenue	7
Noninterest Expense	8
Operations of Consolidated Asset Management Funds	9
Regulatory Reform	9
Investment Securities Portfolio	10
Foreign Exchange and Other Trading Activities Revenue	11
Capital	11
Nonperforming Assets	11
Allowance for Credit Losses, Provision and Net Charge-offs	12
Discontinued Operations	12
Business Segments	12
•     Asset Management	13
•     Wealth Management	14
•     Asset Servicing	15
•     Issuer Services	16
•     Clearing Services	17
•     Treasury Services	18
•     Other	19
Supplemental Information – Explanation of Non-GAAP Financial Measures	20
Cautionary Statement	23

BNY Mellon 2Q10 Quarterly Earnings Review

NON-GAAP FINANCIAL MEASURES

BNY Mellon has included in this Earnings Review certain Non-GAAP measures based upon tangible common shareholders’ equity. BNY Mellon believes that the ratio of tangible common shareholders’ equity to tangible assets of operations, is a measure of capital strength that adds additional useful information to investors, supplementing the Tier 1 capital ratio which is utilized by regulatory authorities. Unlike the Tier 1 capital ratio, the tangible common shareholders’ equity ratio fully incorporates those changes in investment securities valuations which are reflected in shareholders’ equity. In addition, this ratio is expressed as a percentage of the actual book value of assets, as opposed to a percentage of a risk-based reduced value established in accordance with regulatory requirements, although BNY Mellon in its calculation has excluded certain assets which are given a zero percent risk-weighting for regulatory purposes. This ratio is also informative to investors in BNY Mellon’s common stock because, unlike the Tier 1 capital ratio, it excludes preferred stock and trust preferred securities issued by BNY Mellon. Further, BNY Mellon believes that the return on tangible common equity measure, which excludes goodwill and intangible assets net of deferred tax liabilities, is a useful additional measure for investors because it presents a measure of BNY Mellon’s performance in reference to those assets which are productive in generating income.

BNY Mellon has provided the measure of tangible book value per share, which it believes provides additional useful information as to the level of such assets in relation to shares of common stock outstanding. BNY Mellon has presented revenue measures which exclude the effect of net investment securities gains (losses) and noncontrolling interests related to consolidated asset management funds and expense measures excluding items, such as merger and integration (“M&I”) expenses, intangible amortization expenses, the FDIC special assessment, special litigation reserves taken in the first quarter of 2010; and measures which utilize net income excluding tax items such as the discrete tax benefits related to a tax loss on mortgages and the benefit of tax settlements. Return on equity measures and operating margin measures which exclude some or all of these items are also presented. BNY Mellon believes that these measures are useful to investors because they permit a focus on period to period comparisons which relate to the ability of BNY Mellon to enhance revenues and limit expenses in circumstances where such matters are within BNY Mellon’s control. The excluded items in general relate to situations where accounting rules require certain ongoing charges as a result of prior transactions, or where valuation or other accounting/regulatory requirements require charges unrelated to operational initiatives. M&I expenses primarily relate to the merger with Mellon Financial Corporation in 2007. M&I expenses generally continue for approximately three years after the transaction, and can vary on a year-to-year basis depending on the stage of the integration. BNY Mellon believes that the exclusion of M&I expenses provides investors with a focus on BNY Mellon’s business as it would appear on a consolidated going-forward basis, after such M&I expenses have ceased, typically after approximately three years. Future periods will not reflect such M&I expenses, and thus may be more easily compared to our current results if M&I expenses are excluded. With regards to the exclusion of net investment securities gains (losses), BNY Mellon’s primary businesses are Asset and Wealth Management and Institutional Services. The management of these sectors is evaluated on the basis of the ability of these businesses to generate fee and net interest revenue and to control expenses, and not on the results of BNY Mellon’s investment securities portfolio. Management of the investment securities portfolio is a shared service contained in the Other segment. The primary objective of the investment securities portfolio is to generate net interest revenue from the liquidity generated by BNY Mellon’s processing businesses. BNY Mellon does not generally originate or trade the securities in the investment securities portfolio. With regards to higher yields related to the restructured investment securities portfolio, client deposits serve as the primary funding source for our investment securities portfolio and we typically allocate all interest revenue to the businesses generating the deposits. Accordingly, the higher yield related to the restructured investment securities portfolio has been included in the segment results. The presentation of financial measures excluding special litigation reserves taken in the first quarter of 2010 provides investors the ability to view performance metrics on the basis that management views results. The presentation of income of consolidated asset management funds, net of noncontrolling interest related to the consolidation of certain assets management funds permits investors to view revenue on a basis consistent with prior periods. Restructuring charges relate to migrating positions to global growth centers and the elimination of certain positions. Excluding the discrete tax benefits related to a tax loss on mortgages permits investors to calculate the tax impact of BNY Mellon’s primary businesses. BNY Mellon believes that these presentations, as a supplement to GAAP information, gives investors a clearer picture of the results of its primary businesses.

In this Earnings Review, certain amounts are presented on an FTE basis. We believe that this presentation provides comparability of amounts arising from both taxable and tax exempt sources, and is consistent with industry practice. The adjustment to an FTE basis has no impact on net income.

Each of these measures as described above is used by management to monitor financial performance, both on a company-wide and on a business segment basis. Below is a listing of certain financial measures which have been impacted by the exclusion and/or adjustment of certain items.

Revenue: Investment securities gains (losses) and income from consolidated asset management funds, net of noncontrolling interest.

Noninterest expense: Special litigation reserves taken in the first quarter of 2010, M&I expenses, intangible amortization expense, FDIC special assessment and restructuring charges.

Earnings per share: Special litigation reserves taken in the first quarter of 2010, M&I expenses, restructuring charges, preferred dividends, net investment securities gains (losses) and discrete tax benefits.

Page - 2

BNY Mellon 2Q10 Quarterly Earnings Review

SECOND QUARTER 2010 FINANCIAL HIGHLIGHTS

	Income after tax from continuing operations (a)						EPS from continuing operations (a)(b)
	(in millions)													2Q10 vs.
	2Q09		1Q10		2Q10		2Q09			1Q10		2Q10		2Q09		1Q10
Earnings:
Continuing operations – GAAP	$	267	$	601	$	668	$	0.23		$	0.49	$	0.55	139	%	12	%
Non-GAAP adjustments (a)		335		114		—		0.29			0.10		—
Subtotal Non-GAAP operating basis		602		715		668		0.51	(c)		0.59		0.55	8	%	(7	)%
Intangible amortization		67		62		60		0.06			0.05		0.05
Continuing operations – Non-GAAP	$	669	$	777	$	728	$	0.57		$	0.64	$	0.60	5	%	(6	)%

KEY POINTS (comparisons are unannualized 2Q10 vs. 1Q10 unless otherwise stated)

• Operating earnings

- Fee revenue benefited from a 6% increase in securities servicing fees and a 39% increase in foreign exchange revenue, offset by negative trading revenue primarily in derivatives due to credit valuation adjustments (“CVA”) on widening spreads and lower fixed income trading revenue

- Net interest revenue decreased 6% primarily reflecting our credit strategy to reduce targeted loan exposure, as well as reducing the duration of placements

- Noninterest expenses increased 3% reflecting higher support agreement charges resulting from a quarterly change in the market value of Lehman securities, the impact of the annual merit increase, the U.K. bonus tax and higher business development activity

• Asset quality improvement

- Provision down 43% to $20 million; nonperforming assets down 12% to $406 million

- Unrealized pre-tax gain of $292 million on the investment portfolio compared with an unrealized loss of $247 million at March 31, 2010

• Capital generation strong

- Tier 1 capital increased approximately $430 million

- Tangible common equity increased approximately $795 million

- Tier 1 capital ratio 13.5%, Tier 1 common equity ratio 11.8% and Tangible common shareholders’ equity ratio 6.3%

• Client assets stable

- Assets under custody and administration $21.8 trillion, up 6% year-over-year

- Assets under management $1.0 trillion, up 13% year-over-year

- Long-term inflows $12 billion in 2Q10

- Short-term outflows $17 billion in 2Q10

• Completed acquisition of the Global Investment Servicing business on July 1, 2010

- Successfully raised $700 million of common equity via a forward sale agreement that is expected to settle in 3Q10

(a) See Supplemental information beginning on page 20 for GAAP to Non-GAAP reconciliations.

(b) Diluted earnings per share under the two-class method was calculated after deducting earnings allocated to participating securities of $2 million in the second quarter of 2009, $5 million in the first quarter of 2010 and $7 million in the second quarter of 2010.

(c) Does not foot due to rounding.

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BNY Mellon 2Q10 Quarterly Earnings Review

FINANCIAL SUMMARY

(dollar amounts in millions, non-FTE basis unless otherwise noted; common shares in thousands)	2009									2010						2Q10 vs.
	2nd Qtr			3rd Qtr			4th Qtr			1st Qtr			2nd Qtr			2Q09		1Q10
Revenue:
Fee and other revenue – GAAP	$	2,257		$	(2,216	)	$	2,595		$	2,549		$	2,571
Less: Investment securities gains (losses)		(256	)		(4,833	)		15			7			13
Total fee revenue – GAAP	$	2,513		$	2,617		$	2,580		$	2,542		$	2,558		2	%	1	%
Income of consolidated asset management funds, net of noncontrolling interests		—			—			—			41	(a)		32	(a)
Total fee revenue – Non-GAAP		2,513			2,617			2,580			2,583			2,590		3		—
Net interest revenue – GAAP		700			716			724			765			722		3		(6	)
Total revenue excluding investment securities gains (losses) – Non-GAAP (b)	$	3,213		$	3,333		$	3,304		$	3,348		$	3,312		3		(1	)
Provision for credit losses	$	61		$	147		$	65		$	35		$	20
Expense:
Noninterest expense – GAAP	$	2,383		$	2,318		$	2,582		$	2,460		$	2,332
Less: Special litigation reserves		N/A			N/A			N/A			164			N/A
M&I expenses		59			54			52			26			14
Restructuring charges		6			(5	)		139			7			(15	)
FDIC special assessment		61			—			—			—			—
Amortization of intangible assets		108			104			107			97			98
Total noninterest expense – excluding special litigation reserves, M&I expenses, restructuring charges, FDIC special assessment and intangible amortization – Non-GAAP	$	2,149		$	2,165		$	2,284		$	2,166		$	2,235		4		3
Income:
Income (loss) from continuing operations	$	501		$	(2,438	)	$	713		$	626		$	702		40	%	12	%
Net (income) loss attributable to noncontrolling interests, net of tax		2			(1	)		(1	)		(25	) (a)		(34	)
Redemption charge and preferred dividends		(236	)		—			—			—			—
Income (loss) from continuing operations, net of tax		267			(2,439	)		712			601			668
Income (loss) from discontinued operations, net of tax		(91	)		(19	)		(119	)		(42	)		(10	)
Net income (loss) applicable to common shareholders of The Bank of New York Mellon Corporation	$	176		$	(2,458	)	$	593		$	559		$	658
Key Metrics (Continuing operations):
Pre-tax operating margin – GAAP (c)		17	%		N/M			20	%		26	%		30	%
Non-GAAP adjusted (c)		31	%		31	%		29	%		34	%		32	%
Return on common equity (annualized) – GAAP (c)		4.0	%		N/M			9.8	%		8.2	%		8.8	%
Non-GAAP adjusted (c)		6.6	%		9.9	%		10.1	%		10.6	%		9.5	%
Return on tangible common equity (annualized)
Non-GAAP (c)		18.4	%		N/M			33.0	%		25.8	%		25.8	%
Non-GAAP adjusted (c)		24.0	%		31.5	%		31.1	%		30.2	%		25.5	%
Fee and other revenue as a percent of total revenue		76	%		N/M			78	%		75	%		77	%
Percent of non-U.S. fee and net interest revenue including noncontrolling interests related to consolidated asset management funds		31	%		31	%		36	%		34	%		35	%
Effective tax rate – GAAP		2.2	%		N/M			N/M			29.1	%		30.2	%
Non-GAAP adjusted (d)		32.4	%		31.8	%		22.1	%		31.0	%		30.1	%
Period end
Employees		41,800			42,000			42,200			42,300			42,700
Market capitalization	$	35,255		$	34,911		$	33,783		$	37,456		$	29,975
Common shares outstanding		1,202,828			1,204,244			1,207,835			1,212,941			1,214,042

(a) Includes $24 million and $33 million of noncontrolling interests related to consolidated asset management funds in the first and second quarters of 2010, respectively.

(b) Total revenue – GAAP was $2.957 billion, $(1.500) billion, $3.319 billion, $3.379 billion and $3.358 billion, respectively.

(c) See Supplemental information beginning on page 20 for GAAP to Non-GAAP reconciliations.

(d) The effective tax rate – Non-GAAP for the quarters of 2009 exclude investment securities losses, M&I expenses, restructuring charges, support agreement charges, FDIC special assessment and discrete tax benefits. The effective tax rate – Non-GAAP for the first and second quarters of 2010 excludes M&I expenses and restructuring charges. In addition, the effective tax rate for the first quarter of 2010 excludes special litigation reserves taken in the first quarter of 2010.

N/A – Not applicable.

N/M – Not meaningful.

Page - 4

BNY Mellon 2Q10 Quarterly Earnings Review

ASSETS UNDER MANAGEMENT/CUSTODY AND ADMINISTRATION TREND

	2009						2010				2Q10 vs.
	2nd Qtr		3rd Qtr		4th Qtr		1st Qtr		2nd Qtr		2Q09		1Q10
Market value of assets under management at period-end (in billions)	$	926	$	966	$	1,115	$	1,105	$	1,047	13	%	(5	)%
Market value of assets under custody and administration at period-end (in trillions)	$	20.7	$	22.1	$	22.3	$	22.4	$	21.8	6	%	(2	)%
Market value of securities on loan at period-end (in billions) (a)	$	290	$	299	$	247	$	253	$	248	(14	)%	(2	)%

(a) Represents the total amount of securities on loan, both cash and non-cash, managed by the Asset Servicing segment.

ASSETS UNDER MANAGEMENT FLOWS

Changes in market value of assets under management from March 31, 2010 to June 30, 2010 by business segment-preliminary
(in billions)	Asset Management			Wealth Management			Total
Market value of assets under management at March 31, 2010	$	1,029		$	76		$	1,105
Net inflows (outflows):
Long-term		13			(1	)		12
Money market		(17	)		—			(17	)
Total net inflows (outflows)		(4	)		(1	)		(5	)
Net market/currency impact		(49	)		(4	)		(53	)
Market value of assets under management at June 30, 2010	$	976	(a)	$	71	(b)	$	1,047

(a) Excludes $4 billion subadvised for the Wealth Management segment.

(b) Excludes private client assets managed in the Asset Management segment.

COMPOSITION OF ASSETS UNDER MANAGEMENT

Composition of assets under management at period end (a)	2009						2010
	2nd Qtr		3rd Qtr		4th Qtr		1st Qtr		2nd Qtr
Equity	31	%	34	%	31	%	32	%	30	%
Money market	43	%	39	%	32	%	30	%	30	%
Fixed income	17	%	17	%	21	%	21	%	23	%
Alternative investments and overlay	9	%	10	%	16	%	17	%	17	%
Total	100	%	100	%	100	%	100	%	100	%

(a) Excludes securities lending cash management assets.

MARKET INDICES

Market indices	2009			2010		2Q10 vs.
	2nd Qtr	3rd Qtr	4th Qtr	1st Qtr	2nd Qtr	2Q09		1Q10
S&P 500 Index (a)	919	1057	1115	1169	1031	12	%	(12	)%
S&P 500 Index-daily average	891	995	1088	1123	1135	27		1
FTSE 100 Index (a)	4249	5134	5413	5680	4917	16		(13	)
FTSE 100 Index-daily average	4258	4708	5235	5431	5361	26		(1	)
NASDAQ Composite Index (a)	1835	2122	2269	2398	2109	15		(12	)
Lehman Brothers Aggregate BondSM Index (a)	280	304	301	300	299	7		—
MSCI EAFE® Index (a)	1307	1553	1581	1584	1348	3		(15	)
NYSE Share Volume (in billions)	151	126	112	103	140	(7	)	36
NASDAQ Share Volume (in billions)	152	144	131	143	159	5		11

(a) Period end.

Page - 5

BNY Mellon 2Q10 Quarterly Earnings Review

FEE AND OTHER REVENUE

Fee and other revenue	2009									2010						2Q10 vs.
(dollar amounts in millions)	2nd Qtr			3rd Qtr			4th Qtr			1st Qtr			2nd Qtr			2Q09		1Q10
Securities servicing fees:
Asset servicing	$	574		$	600		$	621		$	608		$	622		8	%	2	%
Securities lending revenue		97			43			29			29			46		(53	)	59
Issuer services		372			359			368			333			354		(5	)	6
Clearing services		250			236			223			230			245		(2	)	7
Total securities servicing fees		1,293			1,238			1,241			1,200			1,267		(2	)	6
Asset and wealth management fees		637			650			736			678			676		6		—
Foreign exchange and other trading activities		237			246			246			262			220		(7	)	(16	)
Treasury services		132			128			134			131			125		(5	)	(5	)
Distribution and servicing		107			94			85			76			77		(28	)	1
Financing-related fees		54			56			57			50			48		(11	)	(4	)
Investment income		44			121			78			108			72		64		(33	)
Other		9			84			3			37			73		N/M		N/M
Total fee revenue – GAAP	$	2,513		$	2,617		$	2,580		$	2,542		$	2,558		2	%	1	%
Income of consolidated asset management funds, net of noncontrolling interests		—			—			—			41	(a)		32	(a)	N/M		(22	)
Total fee revenue – Non-GAAP	$	2,513		$	2,617		$	2,580		$	2,583		$	2,590		3	%	—	%
Net securities gains (losses)		(256	)		(4,833	)		15			7			13		N/M		N/M
Total fee and other revenue – Non-GAAP (b)	$	2,257		$	(2,216	)	$	2,595		$	2,590		$	2,603		15	%	1	%
Fee and other revenue as a percent of total revenue – GAAP		76	%		N/M			78	%		75	%		77	%

(a) Includes $25 million and $29 million previously included in asset and wealth management fees and $16 million and $3 million previously included in investment income for the first and second quarters of 2010, respectively. See page 9.

(b) Total fee and other revenue on a GAAP basis was $2,257 million, $(2,216) million, $2,595 million, $2,549 million and $2,571 million, respectively.

N/M - Not meaningful.

KEY POINTS

• Asset servicing fees – Year-over-year growth reflects higher market values and new business. The increase sequentially primarily reflects new business and higher transaction volumes.

• Securities lending revenue – The year-over-year decrease reflects narrower spreads and lower loan balances while the sequential increase reflects seasonality.

• Issuer services fees – The decrease year-over-year reflects lower Corporate Trust fee revenue resulting from decreased activity in the global debt markets and lower money market related distribution fees, partially offset by higher Depositary Receipts revenue reflecting higher issuance and service fees. The sequential increase resulted from seasonality in Depositary Receipts and Shareowner Services, partially offset by lower Corporate Trust fee revenue.

• Clearing services fees – Year-over-year results reflect lower money market related distribution fees. The sequential increase reflects higher transaction fee volumes and higher money market fund fees.

• Asset and wealth management fees totaled $676 million in the second quarter of 2010. Adjusted for performance fees and income from consolidated asset management funds, net of noncontrolling interests, these fees total $686 million, an increase of 12% compared with the prior year period and a decrease of 1% (unannualized) sequentially (see page 20). The year-over-year increase reflects improved market values, the Insight acquisition and the impact of new business, partially offset by higher fee waivers and a reduction in fees due to money market outflows. Sequentially, the impact of new business was more than offset by lower market values.

• Foreign exchange and other trading activities totaled $220 million compared with $237 million in the prior year period and $262 million in the first quarter of 2010. In the second quarter of 2010, foreign exchange revenue totaled $244 million, an increase of 39% sequentially, driven by increased volatility. The negative other trading revenue of $24 million in the second quarter of 2010 primarily relates to credit valuation adjustments (“CVA”) on derivatives due to widening spreads and lower fixed income trading revenue. See page 11 for trends in foreign exchange and other trading activities revenue.

• Investment and other income increased $92 million year-over-year and was unchanged sequentially. The year-over-year increase reflects positive foreign currency translations and lease residual gains, partially offset by lower seed capital revenue.

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BNY Mellon 2Q10 Quarterly Earnings Review

NET INTEREST REVENUE

Net interest revenue	2009									2010						2Q10 vs.
(dollar amounts in millions)	2nd Qtr			3rd Qtr			4th Qtr			1st Qtr			2nd Qtr			2Q09		1Q10
Net interest revenue (non-FTE)	$	700		$	716		$	724		$	765		$	722		3	%	(6	)%
Net interest revenue (FTE)		704			721			729			770			727		3		(6	)
Net interest margin (FTE)		1.80	%		1.85	%		1.77	%		1.89	%		1.74	%	(6	) bps	(15	) bps
Selected average balances:
Cash/interbank investments	$	66,154		$	64,762		$	71,173		$	71,788		$	73,673		11	%	3	%
Trading account securities		2,179			1,973			2,090			2,075			2,752		26		33
Securities		51,903			53,889			55,573			55,352			54,030		4		(2	)
Loans		37,029			34,535			35,239			34,214			36,664		(1	)	7
Interest-earning assets		157,265			155,159			164,075			163,429			167,119		6		2
Interest-bearing deposits		98,896			93,632			98,404			101,034			99,963		1		(1	)
Noninterest-bearing deposits		32,852			34,920			34,991			33,330			34,628		5		4
Selected average yields/rates:
Cash/interbank investments		1.11	%		1.00	%		0.94	%		0.89	%		0.82	%
Trading account securities		2.50			2.30			2.53			2.49			2.62
Securities		3.12			3.20			3.36			3.67			3.62
Loans		2.69			2.63			2.38			2.46			2.30
Interest-earning assets		2.16			2.14			2.09			2.18			2.08
Interest-bearing deposits		0.16			0.11			0.12			0.16			0.17
Average cash/interbank investments as a percentage of average interest-earning assets		42	%		42	%		43	%		44	%		44	%
Average noninterest-bearing deposits as a percentage of average interest-earning assets		21	%		23	%		21	%		20	%		21	%

bps – basis points.

FTE – fully taxable equivalent.

KEY POINTS

• Net interest revenue (FTE) totaled $727 million in 2Q10, an increase of 3% year-over-year and a decline of 6% (unannualized) sequentially.

• The net interest margin (FTE) was 1.74% in 2Q10, compared with 1.89% in 1Q10 and 1.80% in 2Q09.

• The decreases in net interest revenue and the net interest margin compared with 1Q10 reflect our credit strategy to reduce targeted loan exposure, as well as reducing the duration of placements, partially offset by a higher level of average interest-earning assets.

• The increase in net interest revenue compared with 2Q09 reflects a higher yield on the restructured investment securities portfolio and a higher level of average interest-earning assets, partially offset by narrowing spreads and a reduction in the duration of placements.

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BNY Mellon 2Q10 Quarterly Earnings Review

NONINTEREST EXPENSE

Noninterest expense	2009									2010						2Q10 vs.
(dollar amounts in millions)	2nd Qtr			3rd Qtr			4th Qtr			1st Qtr			2nd Qtr			2Q09		1Q10
Staff:
Compensation	$	740		$	747		$	766		$	753		$	763		3	%	1	%
Incentives		241			242			266			284			272		13		(4	)
Employee benefits		172			168			189			183			199		16		9
Total staff		1,153			1,157			1,221			1,220			1,234		7		1
Professional, legal and other purchased services		237			265			278			241			256		8		6
Net occupancy		142			142			141			137			143		1		4
Distribution and servicing		106			104			109			109			106		—		(3	)
Software		93			95			98			94			91		(2	)	(3	)
Furniture and equipment		76			76			80			75			71		(7	)	(5	)
Business development		49			45			76			52			68		39		31
Sub-custodian		60			49			55			52			65		8		25
Other		233			232			226			186			201		(14	)	8
Subtotal		2,149			2,165			2,284			2,166			2,235		4		3
Special litigation reserves		N/A			N/A			N/A			164			N/A		N/M		N/M
FDIC special assessment		61			—			—			—			—		N/M		—
Amortization of intangible assets		108			104			107			97			98		(9	)	1
Restructuring charges		6			(5	)		139			7			(15	)	N/M		N/M
M&I expenses		59			54			52			26			14		(76	)	(46	)
Total noninterest expense	$	2,383		$	2,318		$	2,582		$	2,460		$	2,332		(2	)%	(5	)%
Total staff expense as a percentage of total revenue		39	%		N/M			37	%		36	%		37	%
Total staff expense as a percentage of total revenue – Non-GAAP adjusted (a)		36	%		35	%		37	%		36	%		37	%

(a) Excluding net securities gains (losses) and noncontrolling interest of consolidated asset management funds.

N/A – Not applicable.

N/M – Not meaningful.

KEY POINTS

• The 4% year-over-year increase in expenses (excluding the special litigation reserves, FDIC special assessment, amortization of intangible assets, restructuring charges and M&I expenses) was driven by the impact of the Insight acquisition, as well as higher incentives and business development activity.

• The sequential increase of 3% (unannualized) (excluding the special litigation reserves taken in the first quarter of 2010, FDIC special assessment, amortization of intangible assets, restructuring charges and M&I expenses) primarily reflects higher support agreement charges resulting from a quarterly change in the market value of Lehman securities, the impact of the annual merit increase which was effective in the second quarter of 2010, the U.K. bonus tax and higher business development activity.

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BNY Mellon 2Q10 Quarterly Earnings Review

OPERATIONS OF CONSOLIDATED ASSET MANAGEMENT FUNDS

On Jan. 1, 2010, we adopted SFAS No. 167 (ASC 810). Adoption of this new standard resulted in an increase in consolidated total assets on our balance sheet at June 30, 2010 of $13.4 billion, or an increase of approximately 6% from Dec. 31, 2009.

We also separately disclosed the following on the income statement.

Income from consolidated asset management funds, net of noncontrolling interests
(in millions)	1Q10		2Q10
Operations of consolidated asset management funds	$	65	$	65
Noncontrolling interest of consolidated asset management funds		24		33
Income from consolidated asset management funds, net of noncontrolling interests	$	41	$	32

These line items were previously disclosed on the income statement as:

(in millions)	1Q10		2Q10
Asset and wealth management revenue	$	25	$	29
Investment income		16		3
Total	$	41	$	32

REGULATORY REFORM

In July 2010, Congress enacted regulatory reform legislation known as the Dodd-Frank Wall Street Reform and Consumer Protection Act, which the President is expected to sign into law on July 21, 2010. This new law broadly affects the financial services industry by establishing a framework for systemic risk oversight, creating a resolution authority, mandating higher capital and liquidity requirements, requiring banks to pay increased fees to regulatory agencies and containing numerous other provisions aimed at strengthening the sound operation of the financial services sector. Many aspects of the law are subject to further rulemaking and will take effect over several years, making it difficult to anticipate the overall financial impact to BNY Mellon or across the industry.

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BNY Mellon 2Q10 Quarterly Earnings Review

INVESTMENT SECURITIES PORTFOLIO

At June 30, 2010, the fair value of our investment securities portfolio totaled $53.5 billion. The unrealized pre-tax gain on our securities portfolio was $292 million at June 30, 2010 compared with an unrealized pre-tax loss of $247 million at March 31, 2010 and an unrealized pre-tax loss of $7.7 billion at June 30, 2009.

The following table shows the distribution of our investment securities portfolio.

Investment securities portfolio
	March 31, 2010		2Q10 change in unrealized gain/ (loss)			June 30, 2010					Fair value as a % of amortized cost (a)		Unrealized gain/(loss)			Ratings
(dollar amounts in millions)	Fair value					Amortized cost		Fair value								AAA/ AA-		A+/ A-		BBB+/ BBB-		BB+ and lower		Not rated
Watch list: (b)
European floating rate notes (c)	$	5,032	$	18		$	4,962	$	4,527		91	%	$	(435	)	94	%	6	%	—	%	—	%	—	%
Commercial MBS		2,360		23			2,338		2,357		101			19		92		5		2		1		—
Prime RMBS		1,613		69			1,685		1,568		92			(117	)	51		14		9		26		—
Alt-A RMBS		756		34			781		729		72			(52	)	28		8		1		63		—
Subprime RMBS		486		31			757		501		66			(256	)	70		12		8		10		—
Credit cards		588		3			541		543		98			2		2		97		1		—		—
Other		376		(8	)		352		361		52			9		3		1		22		42		32
Total Watch list (b)		11,211		170			11,416		10,586		88			(830	)	74		12		3		10		1
Agency RMBS		18,349		238			18,480		19,039		103			559		100		—		—		—		—
Sovereign debt/ sovereign guaranteed		7,710		(6	)		7,047		7,126		101			79		100		—		—		—		—
U.S. Treasury securities		7,083		48			5,853		5,948		102			95		100		—		—		—		—
Grantor Trust (d):
Alt-A RMBS		2,605		38			2,355		2,536		62			181		3		4		4		89		—
Prime RMBS		2,024		42			1,831		1,969		73			138		2		3		3		92		—
Subprime RMBS		146		2			127		148		65			21		13		5		—		82		—
FDIC-insured debt		2,586		6			2,485		2,546		102			61		100		—		—		—		—
U.S. Government agency debt		1,157		(6	)		1,133		1,146		101			13		100		—		—		—		—
Other		2,650		7			2,500		2,475		99			(25	)	75		10		6		—		9
Total investment securities	$	55,521	$	539		$	53,227	$	53,519	(e)	95	%	$	292	(e)	85	%	3	%	1	%	10	%	1	%

(a) Amortized cost before impairments.

(b) The “Watch list” includes those securities we view as having a higher risk of impairment charges.

(c) Includes RMBS, commercial MBS, and other securities.

(d) The Grantor Trust RMBS were marked to market in the fourth quarter of 2009. We believe these RMBS would receive higher credit ratings if these ratings incorporated, as additional credit enhancement, the difference between the written-down amortized cost and the current face amount of each of these securities.

(e) Includes a $13 million unrealized loss on hedges of available for sale securities.

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BNY Mellon 2Q10 Quarterly Earnings Review

FOREIGN EXCHANGE AND OTHER TRADING ACTIVITIES REVENUE

Foreign exchange and other trading activities	2009									2010
(in millions)	2nd Qtr			3rd Qtr			4th Qtr			1st Qtr			2nd Qtr
Foreign exchange	$	240		$	190		$	201		$	175		$	244
Fixed income		37			76			54			80			(32	)
Credit derivatives (a)		(45	)		(27	)		(11	)		(2	)		4
Other		5			7			2			9			4
Total	$	237		$	246		$	246		$	262		$	220

(a) Used as economic hedges of loans.

CAPITAL

Capital ratios (a)	June 30, 2009		March 31, 2010		June 30, 2010
Tier 1 capital ratio	12.5	%	13.3	%	13.5	%
Total (Tier 1 plus Tier 2) capital ratio	16.0		17.2		17.2
Leverage capital ratio	7.6		6.5		6.6
Common shareholders’ equity to total assets ratio (b)	13.4		13.5		12.9
Tangible common shareholders’ equity to tangible assets of operations ratio – Non-GAAP (b)	4.8		6.1		6.3
Tier 1 common equity to risk-weighted assets ratio (b)	11.1		11.6		11.8

(a) Includes discontinued operations. Preliminary.

(b) See the Supplemental information section beginning on page 20 for a calculation of these ratios.

NONPERFORMING ASSETS

Nonperforming assets (dollar amounts in millions)	June 30, 2009			March 31, 2010			June 30, 2010
Loans:
Other residential mortgages	$	163		$	204		$	229
Wealth management		63			58			62
Commercial real estate		63			50			49
Commercial		43			40			40
Financial institutions		39			102			20
Foreign		1			—			—
Total nonperforming loans		372			454			400
Other assets owned		6			5			6
Total nonperforming assets	$	378		$	459	(a)	$	406	(a)
Nonperforming loans ratio		1.0	%		1.4	%		1.1	%
Allowance for loan losses/nonperforming loans		116.7			114.5			135.5
Total allowance for credit losses/nonperforming loans		141.4			140.5			161.3

(a) The adoption of SFAS No. 167 (ASC 810) resulted in BNY Mellon consolidating loans of consolidated asset management funds of $11.3 billion at March 31, 2010 and $12.1 billion at June 30, 2010. Included in these loans are $150 million and $131 million of nonperforming loans, respectively. These loans are not part of BNY Mellon’s loan portfolio. As a result, the nonperforming loans of consolidated asset management funds are excluded from the nonperforming assets of BNY Mellon. These loans are recorded at fair value and therefore do not impact the provision for credit losses and allowance for loan losses.

Nonperforming assets decreased $53 million compared with March 31, 2010. The decrease primarily resulted from repayments by financial institutions, partially offset by the addition of other residential mortgages.

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BNY Mellon 2Q10 Quarterly Earnings Review

ALLOWANCE FOR CREDIT LOSSES, PROVISION AND NET CHARGE-OFFS

Allowance for credit losses, provision and net charge-offs	Quarter ended
(in millions)	June 30, 2009			March 31, 2010			June 30, 2010
Allowance for credit losses – beginning of period	$	559		$	628		$	638
Provision for credit losses		61			35			20
Transferred to discontinued operations		(40	)		—			—
Net (charge-offs) recoveries:
Other residential mortgages		(16	)		(12	)		(10	)
Financial institutions		—			(20	)		(1	)
Commercial		(25	)		12			—
Commercial real estate		(13	)		(5	)		(1	)
Wealth Management		—			—			(1	)
Total net (charge-offs) recoveries		(54	)		(25	)		(13	)
Allowance for credit losses – end of period	$	526		$	638		$	645
Allowance for loan losses	$	434		$	520		$	542
Allowance for unfunded commitments		92			118			103

The provision for credit losses was $20 million in the second quarter of 2010 compared with $35 million in the first quarter of 2010. During the second quarter of 2010, the total allowance for credit losses increased $7 million and net charge-offs totaled $13 million.

DISCONTINUED OPERATIONS

On Jan. 15, 2010, BNY Mellon sold Mellon United National Bank (“MUNB”), its national bank subsidiary located in Florida. We have applied discontinued operations accounting to this business. The income statements for all periods in this Earnings Review are presented on a continuing operations basis. This business, which was previously reported in the Other segment, no longer fit our strategic focus on our asset management and securities servicing businesses. In the second quarter of 2010, we recorded an after-tax loss on discontinued operations of $10 million primarily reflecting lower of cost or market write-downs on the retained loans held for sale.

BUSINESS SEGMENTS

See BNY Mellon’s 2009 Annual Report for information on the accounting principles of our business segments. In addition, client deposits serve as the primary funding source for our investment securities portfolio and we typically allocate all interest revenue to the businesses generating the deposits. Accordingly, the higher yield related to the restructured investment securities portfolio has been included in the segment results.

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BNY Mellon 2Q10 Quarterly Earnings Review

ASSET MANAGEMENT (provides asset management services through a number of asset management companies to institutional and individual investors)

(dollar amounts in millions, unless otherwise noted)	2009									2010						2Q10 vs.
	2nd Qtr			3rd Qtr			4th Qtr			1st Qtr			2nd Qtr			2Q09		1Q10
Revenue:
Asset and wealth management:
Mutual funds	$	266		$	274		$	266		$	242		$	242		(9	)%	—	%
Institutional clients		175			197			227			264			264		51		—
Private clients		31			34			38			38			37		19		(3	)
Performance fees		26			1			59			13			19		(27	)	46
Total asset and wealth management revenue		498			506			590			557			562		13		1
Distribution and servicing		90			84			84			75			75		(17	)	-
Other		(59	)		2			6			17			—		N/M		N/M
Total fee and other revenue (a)		529			592			680			649			637		20		(2	)
Net interest revenue		7			7			3			—			1		N/M		N/M
Total revenue (b)		536			599			683			649			638		19		(2	)
Noninterest expense (ex. intangible amortization and support agreement charges)		419			415			465			453			474		13		5
Income before taxes (ex. intangible amortization and support agreement charges)		117			184			218			196			164		40		(16	)
Support agreement charges		—			32			—			—			(7	)	N/M		N/M
Amortization of intangible assets		55			53			56			50			50		(9	)	—
Income before taxes	$	62		$	99		$	162		$	146		$	121		95	%	(17	)%
Pre-tax operating margin		12	%		16	%		24	%		23	%		19	%
Pre-tax operating margin (ex. intangible amortization) (c)		22	%		25	%		32	%		30	%		27	%
Market value of assets under management at period-end (in billions)	$	860		$	897		$	1,045		$	1,034		$	980		14	%	(5	)%
Assets under management-net inflows (outflows):
Long-term (in billions)	$	(18	)	$	(2	)	$	13		$	15		$	13
Money market (in billions)	$	(2	)	$	(14	)	$	(22	)	$	(25	)	$	(17	)

(a) Total fee and other revenue for the first and second quarters of 2010 includes income from consolidated asset management funds of $65 million and $65 million, respectively, and net income attributable to noncontrolling interests of $24 million and $33 million, respectively. The net of these income statement line items of $41 million and $32 million for the first and second quarters of 2010 is included above in institutional client revenue of $25 million and $29 million, respectively, and other revenue of $16 million and $3 million, respectively.

(b) Investment securities gains (losses) were $(45) million in 2Q09, $- million in 3Q09, $1 million in 4Q09, $- million in 1Q10 and $1 million in 2Q10. Excluding investment securities gains (losses), the total revenue growth rate 2Q10 vs.2Q09 was 10%.

(c) The pre-tax operating margin, excluding intangible amortization, support agreement charges and investment securities gains (losses) was 28% for 2Q09, 31% for 3Q09, 32% for 4Q09, 30% for 1Q10 and 26% for 2Q10.

N/M – Not meaningful.

KEY POINTS

• Asset Management generated 600 basis points of positive operating leverage compared with 2Q09 excluding intangible amortization and support agreement charges.

• Asset and wealth management fees totaled $562 million. Excluding performance fees, asset and wealth management fees increased 15% compared with the prior year period and were unchanged sequentially. This increase year-over-year reflects improved equity values, the Insight acquisition and the impact of net new business, partially offset by a reduction in fees due to money market outflows and higher fee waivers. Sequentially, the impact of new business was more than offset by lower market values.

• Net long-term inflows of $13 billion were more than offset by $17 billion of short-term outflows. Long-term inflows benefited from strength in institutional fixed income and global equity products and the fifth consecutive quarter of positive flows in retail funds.

• The increase in other fee revenue compared with 2Q09 primarily reflects investment write-downs in 2Q09.

• Noninterest expense (ex. intangible amortization and support agreement charges) increased 13% year-over-year and 5% (unannualized) sequentially. The year-over-year increase primarily reflects the Insight acquisition and higher incentive expense. The sequential increase reflects higher incentive expense and the annual merit increase.

• 49% non-U.S. revenue in 2Q10 vs. 40% in 2Q09.

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BNY Mellon 2Q10 Quarterly Earnings Review

WEALTH MANAGEMENT (provides investment management, wealth and estate planning and private banking solutions to high net worth individuals, families, endowments and foundations and related entities)

(dollar amounts in millions, unless otherwise noted)	2009									2010						2Q10 vs.
	2nd Qtr			3rd Qtr			4th Qtr			1st Qtr			2nd Qtr			2Q09		1Q10
Revenue:
Asset and wealth management	$	128		$	133		$	136		$	136		$	134		5	%	(1	)%
Other		12			13			15			10			13		8		30
Total fee and other revenue		140			146			151			146			147		5		1
Net interest revenue		49			49			46			55			56		14		2
Total revenue		189			195			197			201			203		7		1
Provision for credit losses		—			—			1			—			—		N/M		N/M
Noninterest expense (ex. intangible amortization)		136			135			138			136			145		7		7
Income before taxes (ex. intangible amortization)		53			60			58			65			58		9		(11	)
Amortization of intangible assets		11			12			11			9			9		(18	)	—
Income before taxes	$	42		$	48		$	47		$	56		$	49		17	%	(13	)%
Pre-tax operating margin		22	%		25	%		24	%		28	%		24	%
Pre-tax operating margin (ex. intangible amortization)		28	%		31	%		29	%		32	%		28	%
Average loans	$	5,684		$	6,010		$	6,191		$	6,302		$	6,350		12	%	1	%
Average deposits	$	6,628		$	6,602		$	6,804		$	7,310		$	7,991		21	%	9	%
Market value of total client assets under management and custody at period end (in billions)	$	142		$	151		$	154		$	157		$	150		6	%	(4	)%

N/M – Not meaningful.

KEY POINTS

• Income before taxes (ex. intangible amortization) increased 9% compared to 2Q09 and decreased 11% (unannualized) compared to 1Q10.

• Total fee and other revenue was up 5% compared to 2Q09 and 1% (unannualized) sequentially. The year-over-year increase reflects organic growth, the impact of higher equity markets and increased capital markets fees. The sequential increase was due to organic growth and higher capital markets fees, partially offset by lower equity markets.

• Total client assets were $150 billion at June 30, 2010, up $8 billion, or 6%, from June 30, 2009 and down $7 billion, or 4%, from March 31, 2010. The decrease from March 31, 2010 reflects market depreciation.

• Net interest revenue increased 14% year-over-year and 2% (unannualized) sequentially. The year-over-year increase was primarily due to high quality loan growth, higher loan spreads, and the higher yield related to the restructured investment securities portfolio. The sequential increase reflects higher deposit levels and higher deposit margins. Average loans increased 12% year-over-year and 1% (unannualized) sequentially. Average deposit levels increased 21% year-over-year and 9% (unannualized) sequentially.

• Noninterest expense (excluding intangible amortization) increased 7% compared to 2Q09 and sequentially (unannualized). The year-over-year increase primarily reflects higher legal and FDIC expenses, the impact of the annual merit increase and production-related incentives, partially offset by workforce reductions and expense control. The sequential increase reflects the timing of business development expenses and the annual merit increase.

• Wealth Management has office sites in 17 states and 3 countries, including 16 of the top 25 domestic wealth markets.

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BNY Mellon 2Q10 Quarterly Earnings Review

ASSET SERVICING (provides global custody and related services and broker-dealer services to corporate and public retirement funds, foundations and endowments and global financial institutions)

(dollar amounts in millions, unless otherwise noted)	2009									2010						2Q10 vs.
	2nd Qtr			3rd Qtr			4th Qtr			1st Qtr			2nd Qtr			2Q09		1Q10
Revenue:
Securities servicing fees - Asset servicing revenue	$	557		$	573		$	581		$	569		$	586		5	%	3	%
Securities lending revenue		85			32			25			24			30		(65	)	25
Foreign exchange and other trading activities		216			190			177			170			207		(4	)	22
Other		46			50			33			35			83		80		137
Total fee and other revenue		904			845			816			798			906		—		14
Net interest revenue		211			229			205			210			216		2		3
Total revenue		1,115			1,074			1,021			1,008			1,122		1		11
Noninterest expense (ex. intangible amortization and support agreement charges)		721			748			788			740			765		6		3
Income before taxes (ex. intangible amortization and support agreement charges)		394			326			233			268			357		(9	)	33
Support agreement charges		(15	)		(19	)		(5	)		(23	)		16		N/M		N/M
Amortization of intangible assets		9			6			6			6			5		(44	)	(17	)
Income before taxes	$	400		$	339		$	232		$	285		$	336		(16	)%	18	%
Pre-tax operating margin		36	%		32	%		23	%		28	%		30	%
Pre-tax operating margin (ex. intangible amortization)		37	%		32	%		23	%		29	%		30	%
Market value of securities on loan at period end (in billions) (a)	$	290		$	299		$	247		$	253		$	248		(14	)%	(2	)%
Average deposits	$	50,583		$	52,271		$	51,755		$	52,183		$	55,343		9	%	6	%

(a) Represents the total amount of securities on loan, both cash and non-cash, managed by the Asset Servicing segment.

N/M – Not meaningful.

KEY POINTS

• Asset servicing generated 800 basis points of positive operating leverage sequentially, excluding support agreement charges and intangible amortization.

• Securities servicing fees – ex. securities lending revenue increased 3% (unannualized) sequentially and 5% compared with 2Q09. The year-over-year increase reflects higher market values and new business. The sequential increase reflects new business and higher transaction volumes.

• Securities lending fees decreased $55 million compared with 2Q09 and increased $6 million sequentially. The year-over-year decrease reflects narrower spreads and lower loan balances while the sequential increase reflects seasonality. Spreads decreased 49% compared with 2Q09 and increased 60% sequentially. Volumes decreased 9% compared with 2Q09 and increased 4% (unannualized) sequentially.

• Foreign exchange and other trading activities decreased 4% compared with 2Q09 and increased 22% (unannualized) sequentially. Both fluctuations primarily resulted from changes in volatility.

• Other revenue increased year-over-year and sequentially as a result of higher foreign exchange translation gains.

• Net interest revenue increased 2% year-over-year and 3% (unannualized) sequentially. The increase compared with 2Q09 resulted from the higher yield related to the restructured investment securities portfolio, primarily offset by lower spreads on deposits. The increase sequentially reflects higher deposit levels and spreads.

• Noninterest expense (excluding intangible amortization and support agreement charges) increased $44 million compared with 2Q09 and $25 million sequentially. The year-over-year increase reflects higher subcustodian fees resulting from higher asset values and transaction volumes, as well as higher professional, legal and other purchased services and higher business development expense. The sequential increase was primarily driven by higher subcustodian fees and higher business development activity.

• 2Q10 new business wins totaled $419 billion (win rate of 61%).

• 40% non-U.S. revenue in 2Q10 vs. 35% in 2Q09.

• BNY Mellon #1 rated custodian among the largest custodian peer group – Global Investor Survey (May 2010).

Page - 15

BNY Mellon 2Q10 Quarterly Earnings Review

ISSUER SERVICES (provides corporate trust, depositary receipt and shareowner services to corporations and institutions)

(dollar amounts in millions)	2009									2010						2Q10 vs.
	2nd Qtr			3rd Qtr			4th Qtr			1st Qtr			2nd Qtr			2Q09		1Q10
Revenue:
Securities servicing fees - issuer services	$	373		$	359		$	367		$	333		$	353		(5	)%	6	%
Other		40			30			43			25			27		(33	)	8
Total fee and other revenue		413			389			410			358			380		(8	)	6
Net interest revenue		185			180			203			252			216		17		(14	)
Total revenue		598			569			613			610			596		—		(2	)
Noninterest expense (ex. intangible amortization)		305			304			318			304			318		4		5
Income before taxes (ex. intangible amortization)		293			265			295			306			278		(5	)	(9	)
Amortization of intangible assets		20			20			20			20			21		5		5
Income before taxes	$	273		$	245		$	275		$	286		$	257		(6	)%	(10	)%
Pre-tax operating margin		46	%		43	%		45	%		47	%		43	%
Pre-tax operating margin (ex. intangible amortization)		49	%		47	%		48	%		50	%		47	%
Number of depositary receipt programs		1,320			1,322			1,330			1,336			1,345		2	%	1	%
Average deposits	$	47,293		$	43,183		$	47,320		$	48,470		$	44,560		(6	)%	(8	)%

KEY POINTS

• Total revenue decreased less than 1% compared to 2Q09 and 2% (unannualized) sequentially:

• Corporate Trust – Total revenue decreased year-over-year and sequentially. The year-over-year decline reflects weakness in the global debt markets, lower money market related fees, partially offset by higher net interest revenue driven by the higher yield related to the restructured investment securities portfolio and higher deposit spreads. The sequential decline reflects continued low debt issuances in the global markets and lower client deposits.

• Depositary Receipts – Total revenue increased year-over-year and sequentially primarily due to higher transaction and servicing fees. The sequential increase was also impacted by seasonality. Depositary Receipt issuances have exceeded cancellations for five consecutive quarters.

• Shareowner Services – Total revenue decreased year-over-year and sequentially. The year-over-year decline reflects lower net interest revenue, lower corporate action fees and lower employee stock option plan fees. The sequential decline primarily reflects the factors noted above, partially offset by seasonality.

• Noninterest expense (excluding intangible amortization) increased 4% year-over-year and 5% sequentially. The year-over-year increase reflects higher legal and FDIC expenses. The sequential increase resulted from higher legal expense and timing of business development activity. Staff expense decreased year-over-year and was unchanged sequentially.

• 40% non-U.S. revenue in 2Q10 vs. 38% in 2Q09.

Page - 16

BNY Mellon 2Q10 Quarterly Earnings Review

CLEARING SERVICES (provides clearing, financing and custody services for broker-dealers and registered investment advisors)

(dollar amounts in millions, unless otherwise noted)	2009									2010						2Q10 vs.
	2nd Qtr			3rd Qtr			4th Qtr			1st Qtr			2nd Qtr			2Q09		1Q10
Revenue:
Securities servicing fees – clearing services	$	248		$	232		$	219		$	227		$	240		(3	)%	6	%
Other		66			59			45			44			36		(45	)	(18	)
Total fee and other revenue		314			291			264			271			276		(12	)	2
Net interest revenue		87			81			90			95			93		7		(2	)
Total revenue		401			372			354			366			369		(8	)	1
Noninterest expense (ex. intangible amortization)		256			245			241			255			270		5		6
Income before taxes (ex. intangible amortization)		145			127			113			111			99		(32	)	(11	)
Amortization of intangible assets		7			6			7			6			7		N/M		N/M
Income before taxes	$	138		$	121		$	106		$	105		$	92		(33	)%	(12	)%
Pre-tax operating margin		34	%		33	%		30	%		29	%		25	%
Pre-tax operating margin (ex. intangible amortization)		36	%		34	%		32	%		30	%		27	%
Average active accounts (in thousands)		4,999			4,771			4,758			4,811			4,896
Average margin loans	$	4,121		$	4,322		$	4,651		$	5,229		$	5,775		40	%	10	%
Average payables to customers and broker-dealers	$	4,901		$	5,845		$	6,476		$	6,495		$	6,593		35	%	2	%

KEY POINTS

• Total revenue decreased 8% compared to 2Q09 and increased 1% (unannualized) sequentially:

• Total fee and other revenue decreased 12% compared with 2Q09 and increased 2% (unannualized) sequentially. The year-over-year decrease was primarily due to lower money market related distribution fees and lower trading volumes, partially offset by higher mutual fund fee revenue driven by improved asset values. The sequential increase was primarily due to higher transaction fee volumes and higher money market fund fees, partially offset by lower trading revenue.

• Net interest revenue increased 7% compared with 2Q09 and decreased 2% (unannualized) sequentially. Both variances were impacted by the fluctuation in accretion related to the restructured investment securities portfolio. The sequential comparison was also impacted by a higher level of interest-earning assets partially offset by lower spreads.

• Noninterest expense (excluding intangible amortization) increased 5% compared to 2Q09 and 6% (unannualized) sequentially. Both increases primarily reflect higher expenses in support of future client conversions, higher professional, legal and other purchased services expenses, and higher clearing expense driven by increased volumes.

Page - 17

BNY Mellon 2Q10 Quarterly Earnings Review

TREASURY SERVICES (provides treasury services, global payment services, working capital solutions, capital markets business and large corporate banking)

	2009									2010						2Q10 vs.
(dollar amounts in millions)	2nd Qtr			3rd Qtr			4th Qtr			1st Qtr			2nd Qtr			2Q09		1Q10
Revenue:
Treasury services	$	128		$	124		$	130		$	127		$	121		(5	)%	(5	)%
Other		52			82			92			98			75		44		(23	)
Total fee and other revenue		180			206			222			225			196		9		(13	)
Net interest revenue		157			149			148			176			161		3		(9	)
Total revenue		337			355			370			401			357		6		(11	)
Noninterest expense (ex. intangible amortization)		191			180			187			182			188		(2	)	3
Income before taxes (ex. intangible amortization)		146			175			183			219			169		16		(23	)
Amortization of intangible assets		7			6			6			6			5		(29	)	(17	)
Income before taxes	$	139		$	169		$	177		$	213		$	164		18	%	(23	)%
Pre-tax operating margin		41	%		48	%		48	%		53	%		46	%
Pre-tax operating margin (ex. intangible amortization)		43	%		49	%		50	%		55	%		47	%
Average loans	$	13,228		$	11,648		$	10,982		$	10,436		$	10,290		(22	)%	(1	)%
Average deposits	$	20,321		$	19,989		$	22,138		$	22,257		$	22,209		9	%	—	%

KEY POINTS

• Total fee and other revenue increased 9% year-over-year and decreased 13% (unannualized) sequentially:

• The year-over-year increase resulted from an improvement in the mark-to-market adjustments on credit default swaps, partially offset by lower trading revenue, lower financing-related fees and lower global payment fees.

• The sequential decrease was due primarily to lower trading revenue, global payment fees and financing-related fees.

• Net interest revenue increased 3% year-over-year and decreased 9% (unannualized) sequentially. The year-over-year increase primarily resulted from the higher yield related to the restructured investment securities portfolio, partially offset by lower average loan balances reflecting our credit strategy to reduce targeted risk exposure. The sequential decrease reflects lower spreads.

• Noninterest expense (excluding intangible amortization) decreased 2% compared with 2Q09 and increased 3% (unannualized) sequentially. The year-over-year decrease reflects overall expense control and lower FDIC expense. The sequential increase primarily reflects seasonally lower expenses in 1Q10.

Page - 18

BNY Mellon 2Q10 Quarterly Earnings Review

OTHER (primarily includes the leasing portfolio, corporate treasury activities, business exits, M&I expenses and other corporate revenue and expense items)

	2009									2010
(dollar amounts in millions)	2nd Qtr			3rd Qtr			4th Qtr			1st Qtr			2nd Qtr
Revenue:
Fee and other revenue	$	(223	)	$	(4,685	)	$	52		$	143		$	61
Net interest revenue (expense)		4			21			29			(23	)		(21	)
Total revenue		(219	)		(4,664	)		81			120			40
Provision for credit losses		61			147			64			35			20
Noninterest expense (ex. Special litigation reserves, FDIC special assessment, intangible amortization, M&I expenses and restructuring charges)		136			125			152			119			66
Income (loss) before taxes (ex. Special litigation reserves, FDIC special assessment, intangible amortization, M&I expenses and restructuring charges)		(416	)		(4,936	)		(135	)		(34	)		(46	)
Special litigation reserves		N/A			N/A			N/A			164			N/A
FDIC special assessment		61			—			—			—			—
Amortization of intangible assets		(1	)		1			1			—			1
M&I expenses		59			54			52			26			14
Restructuring charges		6			(5	)		139			7			(15	)
Income (loss) before taxes	$	(541	)	$	(4,986	)	$	(327	)	$	(231	)	$	(46	)

KEY POINTS

• Total fee and other revenue increased $284 million compared to 2Q09 and decreased $82 million compared to 1Q10. The year-over-year increase is due to investment securities losses recorded in 2Q09. The sequential decrease relates primarily to negative trading revenue in the second quarter of 2010 resulting from CVA driven by widening spreads and lower lease residual gains.

• Noninterest expense (excluding special litigation reserves taken in the first quarter of 2010, FDIC special assessment, intangible amortization, M&I expenses and restructuring charges) decreased $70 million compared to 2Q09 and decreased $53 million sequentially. The year-over-year decrease primarily reflects lower expenses for litigation and government assessments, while the sequential decrease reflects lower legal and incentive expenses.

Page - 19

BNY Mellon 2Q10 Quarterly Earnings Review

SUPPLEMENTAL INFORMATION – EXPLANATION OF NON-GAAP FINANCIAL MEASURES

Reconciliation of net income and EPS – GAAP to Non-GAAP	2Q09						1Q10						2Q10
(in millions, except per common share amounts)	Net income			EPS (a)			Net income			EPS (a)			Net income			EPS (a)
Net income applicable to common shareholders of The Bank of New York Mellon Corporation – GAAP – Diluted EPS basis (a)	$	176		$	0.15		$	559		$	0.46		$	658		$	0.54
Discontinued operations income (loss)		(91	)		(0.08	)		(42	)		(0.03	)		(10	)		(0.01	)
Continuing operations – GAAP		267			0.23			601			0.49			668			0.55
Less:    Net securities gains (losses)		(161	)		(0.14	)		5			—			N/M			N/M
Add:    Special litigation reserves		N/A			N/A			98			0.08			N/A			N/A
FDIC special assessment		36			0.03			—			—			—			—
Restructuring charges		N/A			N/A			5			—			N/M			N/M
M&I expenses		36			0.03			16			0.01			N/M			N/M
Redemption charge and preferred dividends		236			0.20			—			—			—			—
Benefit of tax settlements		(134	)		(0.11	)		—			—			—			—
Net income from continuing operations applicable to common shareholders excluding net securities gains (losses), special litigation reserves, FDIC special assessment, restructuring charges, M&I expenses, redemption charge and preferred dividends and benefit of tax settlements – Non-GAAP		602			0.51	(b)		715			0.59	(b)		668			0.55
Add:    Intangible amortization		67			0.06			62			0.05			60			0.05
Net income from continuing operations applicable to common shareholders excluding net securities gains (losses), special litigation reserves, FDIC special assessment, restructuring charges, M&I expenses, redemption charge and preferred dividends, benefit of tax settlements and intangible amortization – Non-GAAP	$	669			0.57		$	777			0.64		$	728		$	0.60

(a) Diluted earnings per share under the two-class method was calculated after deducting earnings allocated to participating securities of $2 million in the second quarter of 2009, $5 million in the first quarter of 2010 and $7 million in the second quarter of 2010.

(b) Does not foot due to rounding.

N/A – Not applicable.

N/M – Not meaningful.

Asset servicing revenue (in millions)					2Q09		1Q10			2Q10
Asset servicing revenue					$	671	$	637		$	668
Less:    Securities lending fee revenue						97		29			46
Asset servicing revenue excluding securities lending fee revenue					$	574	$	608		$	622
Asset and wealth management fee revenue							2Q10 vs.
(dollars in millions)	2Q09		1Q10		2Q10		1Q10			2Q09
Asset and wealth management fee revenue	$	637	$	678	$	676		—	%		6	%
Less:    Performance fees		26		13		19
Add:    Revenue from consolidated asset management funds, net of noncontrolling interests		—		25		29
Asset and wealth management fee revenue excluding performance fees	$	611	$	690	$	686		(1	)%		12	%

Page - 20

BNY Mellon 2Q10 Quarterly Earnings Review

Reconciliation of income (loss) from continuing operations before income taxes – pre-tax operating margin
(dollars in millions)	2Q09			3Q09			4Q09			1Q10			2Q10
Income (loss) from continuing operations before income taxes – GAAP	$	513		$	(3,965	)	$	672		$	884		$	1,006
Less:  Net securities gains (losses)		(256	)		(4,833	)		15			7			13
Noncontrolling interests of consolidated asset management funds		—			—			—			24			33
Add: Special litigation reserves		N/A			N/A			N/A			164			N/A
Asset-based taxes		—			20			—			—			—
FDIC special assessment		61			—			—			—			—
Restructuring charges		6			(5	)		139			7			(15	)
M&I expenses		59			54			52			26			14
Intangible amortization		108			104			107			97			98
Income (loss) from continuing operations before income taxes excluding net securities gains (losses), noncontrolling interests of consolidated asset management funds, special litigation reserves, asset-based taxes, FDIC special assessment, restructuring charges, M&I expenses and intangible amortization – Non-GAAP	$	1,003		$	1,041		$	955		$	1,147		$	1,057
Fee and other revenue – GAAP	$	2,257		$	(2,216	)	$	2,595		$	2,549		$	2,571
Income of consolidated asset management funds – GAAP		—			—			—			65			65
Net interest revenue – GAAP		700			716			724			765			722
Total revenue – GAAP		2,957			(1,500	)		3,319			3,379			3,358
Less:  Net securities gains (losses)		(256	)		(4,833	)		15			7			13
Noncontrolling interests of consolidated asset management funds		—			—			—			24			33
Total revenue excluding net securities gains (losses) and noncontrolling interests of consolidated asset management funds – Non-GAAP	$	3,213		$	3,333		$	3,304		$	3,348		$	3,312
Pre-tax operating margin (a)		17	%		N/M			20	%		26	%		30	%
Pre-tax operating margin excluding net securities gains (losses), noncontrolling interests of consolidated asset management funds, special litigation reserves, asset-based taxes, FDIC special assessment, restructuring charges, M&I expenses and intangible amortization – Non-GAAP (a)		31	%		31	%		29	%		34	%		32	%

(a) Income (loss) before taxes divided by total revenue.

N/A – Not applicable.

N/M – Not meaningful.

Page - 21

BNY Mellon 2Q10 Quarterly Earnings Review

Return on common equity and tangible common equity – continuing operations (dollars in millions)	2Q09			3Q09			4Q09			1Q10			2Q10
Net income (loss) applicable to common shareholders of The Bank of New York Mellon Corporation – GAAP	$	176		$	(2,458	)	$	593		$	559		$	658
Less: Discontinued operations income (loss), net of tax		(91	)		(19	)		(119	)		(42	)		(10	)
Net income (loss) from continuing operations applicable to common shareholders of The Bank of New York Mellon Corporation		267			(2,439	)		712			601			668
Add: Intangible amortization		67			65			66			62			60
Net income from continuing operations applicable to common shareholders of The Bank of New York Mellon Corporation excluding intangible amortization – Non-GAAP		334			(2,374	)		778			663			728
Less: Net securities gains (losses)		(161	)		(3,047	)		31			5			8
Add: Special litigation reserves		N/A			N/A			N/A			98			N/A
FDIC special assessment		36			—			—			—			—
Restructuring charges		4			(3	)		86			5			(9	)
M&I expenses		36			34			33			16			9
Benefit of tax settlements		(134	)		—			(133	)		—			—
Net income from continuing operations excluding net securities gains (losses), special litigation reserves, FDIC special assessment, restructuring charges, M&I expenses, benefit of tax settlements and intangible amortization – Non-GAAP	$	437		$	704		$	733		$	777		$	720
Average common shareholders’ equity	$	26,566		$	28,144		$	28,843		$	29,715		$	30,434
Less:  Average goodwill		15,989			16,048			16,291			16,143			16,073
Average intangible assets		5,673			5,608			5,587			5,513			5,421
Add:  Deferred tax liability – tax deductible goodwill		643			666			720			720			746
Deferred tax liability – non-tax deductible intangible assets		1,743			1,717			1,680			1,660			1,649
Average tangible common shareholders’ equity – Non-GAAP	$	7,290		$	8,871		$	9,365		$	10,439		$	11,335
Return on common equity – GAAP (a)		4.0	%		N/M			9.8	%		8.2	%		8.8	%
Return on common equity excluding net securities gains (losses), special litigation reserves, FDIC special assessment, restructuring charges, M&I expenses, benefit of tax settlements and intangible amortization – Non-GAAP (a)		6.6	%		9.9	%		10.1	%		10.6	%		9.5	%
Return on tangible common equity – Non-GAAP (a)		18.4	%		N/M			33.0	%		25.8	%		25.8	%
Return on tangible common equity excluding net securities gains (losses), special litigation reserves, FDIC special assessment, restructuring charges, M&I expenses and benefit of tax settlements – Non-GAAP (a)		24.0	%		31.5	%		31.1	%		30.2	%		25.5	%

(a) Annualized

N/A – Not applicable.

N/M – Not meaningful.

Page - 22

BNY Mellon 2Q10 Quarterly Earnings Review

Equity to assets and book value per common share (dollars in millions, unless otherwise noted)	June 30, 2009			March 31, 2010			June 30, 2010
Common shareholders’ equity at period end – GAAP	$	27,276		$	29,683		$	30,396
Less:   Goodwill		16,040			16,077			16,106
Intangible assets		5,677			5,449			5,354
Add:    Deferred tax liability – tax deductible goodwill		643			720			746
Deferred tax liability – non-tax deductible intangible assets		1,743			1,660			1,649
Tangible common shareholders’ equity at period end – Non-GAAP	$	7,945		$	10,537		$	11,331
Total assets at period end – GAAP	$	203,012		$	220,551		$	235,693
Less: Assets of consolidated asset management funds		—			12,568			13,260
Total assets of operations – Non-GAAP		203,012			207,983			222,433
Less:   Goodwill		16,040			16,077			16,106
Intangible assets		5,677			5,449			5,354
Cash on deposit with the Federal Reserve and other central banks (a)		16,458			14,709			21,548
Tangible total assets of operations at period end – Non-GAAP	$	164,837		$	171,748		$	179,425
Common shareholders’ equity to total assets – GAAP		13.4	%		13.5	%		12.9	%
Tangible common shareholders’ equity to tangible total assets of operations – Non-GAAP		4.8	%		6.1	%		6.3	%
Period end common shares outstanding (in thousands)		1,202,828			1,212,941			1,214,042
Book value per common share	$	22.68		$	24.47		$	25.04
Tangible book value per common share – Non-GAAP	$	6.60		$	8.69		$	9.33
(a)    Assigned a zero percent risk weighting by the regulators.
Calculation of the Tier 1 common equity to risk-weighted assets ratio (a) (dollars in millions)	June 30, 2009			March 31, 2010			June 30, 2010
Total Tier 1 capital	$	15,044		$	13,426		$	13,857
Less: Trust preferred securities		1,691			1,667			1,663
Total Tier 1 common equity	$	13,353		$	11,759		$	12,194
Total risk-weighted assets	$	120,566		$	101,197		$	102,969
Tier 1 common equity to risk-weighted assets ratio		11.1	%		11.6	%		11.8	%

(a) On a regulatory basis.

Cautionary Statement

A number of statements (i) in this Quarterly Earnings Review, (ii) in our presentations and (iii) in the responses to questions on our conference call discussing our quarterly results and other public events may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements, which may be expressed in a variety of ways, including the use of future or present tense language, relate to, among other things, expectations with respect to the economic outlook, reinvestment in our businesses, intended acquisitions and joint ventures and the timing of anticipated closing, the anticipated settlement of the forward sale agreement, credit ratings of the RMBS in the Grantor Trust and our preliminary assessment of the impact of regulatory reform legislation. These statements and other forward-looking statements contained in other public disclosures of The Bank of New York Mellon Corporation which make reference to the cautionary factors described in this earnings review, are based upon current beliefs and expectations and are subject to significant risks and uncertainties (some of which are beyond BNY Mellon’s control). Actual results may differ materially from those expressed or implied as a result of these risks and uncertainties, including, but not limited to, the risk factors and other uncertainties set forth in BNY Mellon’s Annual Report on Form 10-K for the year ended Dec. 31, 2009 and BNY Mellon’s other filings with the Securities and Exchange Commission. All forward-looking statements in this Earnings Review speak only as of July 20, 2010 and BNY Mellon undertakes no obligation to update any forward-looking statement to reflect events or circumstances after that date or to reflect the occurrence of unanticipated events.

Page - 23

EX-99.2

Exhibit 99.2

THE BANK OF NEW YORK MELLON CORPORATION

Financial Trends

Notes:

On July 1, 2007, The Bank of New York Company, Inc. (“The Bank of New York”) and Mellon Financial Corporation (“Mellon”) merged with and into The Bank of New York Mellon Corporation (“The Bank of New York Mellon” or “ BNY Mellon”), with BNY Mellon being the surviving entity (“the merger”).

The results prior to the consummation of the merger reflect the sum of The Bank of New York and Mellon’s historical results, but do not include the pro forma impact of purchase accounting adjustments. Combined results for the periods prior to the merger (1Q07, 2Q07) are presented on a pre-tax basis only. Average common equity and average goodwill/intangibles are not disclosed for the periods prior to the merger due to the impact of the merger on these line items. The business segment results are presented on a pre-tax basis for all periods and reflect actions taken to report consistent transfer pricing and cost allocation methodologies as well as intercompany eliminations between The Bank of New York and Mellon.

Summations may not equal due to rounding. As a result of this rounding convention, immaterial differences may exist between the segment trends data versus segment data on the Form 10-Q for the quarter ended June 30, 2010.

The following transactions/changes have impacted the reporting of our results:

On Jan. 1, 2010, we adopted SFAS No. 167, “Amendments to FASB Interpretation No. 46 (R).” Certain asset management funds and seed capital investments are now disclosed separately on our balance sheet and securitizations are included in available for sale securities. The income statement separately discloses the operations of consolidated asset management funds and the net income attributable to noncontrolling interests of consolidated asset management funds; previously these were disclosed as asset and wealth management revenue and investment income.

On November 2, 2009, we completed the acquisition of Insight Asset Management (“Insight”) based in London. The financial results for Insight are included in the Asset Management segment.

On June 30, 2009, we adopted discontinued operations accounting for Mellon United National Bank (MUNB) located in Miami, Florida. Previously, the financial results were included in the Other segment. On January 15, 2010, we completed the sale of MUNB. The financial results for all periods were restated.

On January 1, 2009, we adopted FAS 160, which resulted in a reclassification of minority interest to equity from other liabilities on the balance sheet and to noncontrolling interest from other expense on the income statement.

During the first quarter of 2009, we moved the financial results of the Execution business from the Clearing Services segment to the Other segment. Historical segment results have been restated to reflect these changes.

On June 3, 2008, we completed the sale of Mellon 1st Business Bank, National Association (N.A.). We moved the financial results from the Wealth Management segment to the Other segment. Historical segment results have been restated to reflect these changes.

On December 20, 2007, we acquired the remaining 50% interest in the ABN AMRO Mellon joint venture. The financial results are included in the Asset Servicing segment.

The following items have impacted the reporting of our results:

Results for the first quarter of 2010 include a charge related to special litigation reserves.

Investment Securities Portfolio restructuring/ Investment Write-downs – Impacted total revenue levels in the fourth quarter of 2007, full year of 2008, and full year of 2009.

The TARP preferred dividends and related redemption premium impacted the fourth quarter of 2008, and the first and second quarters of 2009.

The FDIC Special Assessment of all depository institutions impacted the second quarter of 2009.

Global efficiency restructuring charges – Recorded charges in the fourth quarters of 2008 and 2009.

SILO/LILO/Tax settlement charges – Incurred charges in the second and third quarters of 2008, while the second quarter of 2009 contains the benefit of final tax settlements.

Merger & integration/Intangible amortization expenses – Both expense categories increased beginning in the second/third quarters of 2007 as a result of the merger.

Support agreement charges – Recorded a $163 million pre-tax charge in the fourth quarter of 2008 and a $726 million pre-tax charge in the third quarter of 2008. Minor amounts were recorded in other periods.

All of these items are detailed in the trends that follow.

Discontinued Operations Accounting:

The income/(loss) and average assets from discontinued operations accounting have not been allocated to any segment.

Average Assets:

In business segments where average deposits are greater than average loans, average assets include an allocation of investment securities equal to the difference. Consolidated average assets include average assets of discontinued operations.

Return on Common and Tangible Common Equity/Pretax Operating Margin:

Ratios are presented for continuing operations basis only. Quarterly return on common and tangible common equity ratios are annualized.

Non-GAAP Measures:

Certain Non-GAAP measures are included in the following schedules. These measures are used by management to monitor financial performance, both on a company-wide and on a business segment basis. These Non-GAAP measures impact certain revenue/expense categories, percentages and ratios by the exclusion and/or adjustment of items listed above and described in footnotes. For further information, see ‘Non-GAAP Financial Measures’ and ‘Supplemental Information – Explanation of Non-GAAP Financial Measures’ in The Bank of New York Mellon Corporation Quarterly Earnings Review dated July 20, 2010, furnished as an exhibit to the Report on Form 8-K to which these Financial Trends are furnished as an exhibit.

Page 1 of 19

THE BANK OF NEW YORK MELLON CORPORATION

CONTINUING OPERATIONS - 10 Quarter Trend

(dollar amounts in millions unless otherwise noted)	2008												2009												2010
	1st Qtr			2nd Qtr (a)			3rd Qtr (a), (b)			4th Qtr (b)			1st Qtr			2nd Qtr (c)			3rd Qtr (d)			4th Qtr (e)			1st Qtr (e)			2nd Qtr (e)
Revenue:
Securities servicing fees
Asset servicing	$	903		$	873		$	808		$	786		$	609		$	671		$	643		$	650		$	637		$	668
Issuer services		376			444			477			388			364			372			359			368			333			354
Clearing services		263			264			259			279			253			250			236			223			230			245
Total securities servicing fees		1,542			1,581			1,544			1,453			1,226			1,293			1,238			1,241			1,200			1,267
Asset and wealth management fees		862			860			795			701			616			637			650			736			678			676
Foreign exchange & other trading		259			308			385			510			307			237			246			246			262			220
Treasury services		124			129			129			132			125			132			128			134			131			125
Distribution and servicing		98			110			107			106			111			107			94			85			76			77
Financing-related fees		47			51			44			44			48			54			56			57			50			48
Investment Income		41			74			47			45			(17	)		44			121			78			108			72
Other		82			28			37			67			15			9			84			3			37			73
Total fee revenue		3,055			3,141			3,088			3,058			2,431			2,513			2,617			2,580			2,542			2,558
Securities gains (losses)		(73	)		(152	)		(162	)		(1,241	)		(295	)		(256	)		(4,833	)		15			7			13
Total fee and other revenue		2,982			2,989			2,926			1,817			2,136			2,257			(2,216	)		2,595			2,549			2,571
Income of consolidated asset management funds		—			—			—			—			—			—			—			—			65			65
Net interest revenue		743			388			681			1,047			775			700			716			724			765			722
Total revenue		3,725			3,377			3,607			2,864			2,911			2,957			(1,500	)		3,319			3,379			3,358
Provision for credit losses		14			13			23			54			59			61			147			65			35			20
Noninterest expenses		2,357			2,471			3,090			2,468			2,095			2,149			2,165			2,284			2,166			2,235
Special Litigation Reserves		N/A			N/A			N/A			N/A			N/A			N/A			N/A			N/A			164			N/A
FDIC special assessment		—			—			—			—			—			61			—			—			—			—
Amortization of intangible assets		119			123			118			113			107			108			104			107			97			98
Restructuring charges		—			—			—			181			10			6			(5	)		139			7			(15	)
Merger & integration expense		126			149			111			97			68			59			54			52			26			14
Total noninterest expense		2,602			2,743			3,319			2,859			2,280			2,383			2,318			2,582			2,460			2,332
Income/ (loss) from continuing operations before taxes		1,109			621			265			(49	)		572			513			(3,965	)		672			884			1,006
Income taxes		358			312			(42	)		(137	)		161			12			(1,527	)		(41	)		258			304
Income/ (loss) from continuing operations		751			309			307			88			411			501			(2,438	)		713			626			702
Income/ (loss) from discontinued operations, net of tax		4			6			—			4			(41	)		(91	)		(19	)		(119	)		(42	)		(10	)
Net income attributable to noncontrolling interest		(9	)		(6	)		(4	)		(5	)		(1	)		2			(1	)		(1	)		(25	) (k)		(34	) (k)
Extraordinary (loss) on consolidation of commercial paper conduit, net of tax		—			—			—			(26	)		—			—			—			—			—			—
Redemption charge and preferred dividends		—			—			—			(33	)		(47	)		(236	)		—			—			—			—
Net income/ (loss) applicable to shareholders of The Bank of New York Mellon Corporation	$	746		$	309		$	303		$	28		$	322		$	176		$	(2,458	)	$	593		$	559		$	658
EPS from continuing operations	$	0.65		$	0.26		$	0.26		$	0.04		$	0.31		$	0.23		$	(2.04	)	$	0.59		$	0.49		$	0.55
EPS from continuing operations - Non-GAAP (f)	$	0.75		$	0.75		$	0.81		$	0.96		$	0.56		$	0.51		$	0.54		$	0.55		$	0.59		$	0.55
Market value of assets under management at period-end (in billions)	$	1,105		$	1,113		$	1,067		$	928		$	881		$	926		$	966		$	1,115		$	1,105		$	1,047
Market value of assets under custody and administration at period-end (in trillions)	$	23.1		$	23.0		$	22.4		$	20.2		$	19.5		$	20.7		$	22.1		$	22.3		$	22.4		$	21.8
Market value of securities on loan at period-end (in billions)	$	660		$	588		$	470		$	326		$	293		$	290		$	299		$	247		$	253		$	248
Pre-tax operating margin
GAAP-before extraordinary (loss)		30	%		19	%		7	%		(2	)%		20	%		17	%		N/M			20	%		26	%		30	%
Non-GAAP adjusted (g)		38	%		37	%		39	%		43	%		33	%		31	%		31	%		29	%		34	%		32	%
Return on tangible common equity (annualized):
GAAP-before extraordinary (loss)		35.4	%		18.5	%		18.9	%		6.5	%		28.8	%		18.4	%		N/M			33.0	%		25.8	%		25.8	%
Non-GAAP adjusted (h)		40.7	%		45.9	%		50.2	%		61.3	%		44.4	%		24.0	%		31.5	%		31.1	%		30.2	%		25.5	%
Return on common equity (annualized)
GAAP-before extraordinary (loss)		10.1	%		4.3	%		4.3	%		0.8	%		5.8	%		4.0	%		N/M			9.8	%		8.2	%		8.8	%
Non-GAAP adjusted - excluding intangible amortization (i)		12.7	%		13.2	%		14.2	%		16.8	%		10.6	%		6.6	%		9.9	%		10.1	%		10.6	%		9.5	%
Percent of non-US fee and net interest revenue - GAAP		33	%		39	%		35	%		44	%		31	%		32	%		N/M			36	%		34	%		35	%
Percent of non-US fee and net interest revenue - Non-GAAP (j)		33	%		34	%		32	%		31	%		29	%		31	%		31	%		36	%		34	%		35	%

(a) The second and third quarters of 2008 include pretax SILO/LILO/tax settlement charges which reduced net interest revenue by $377 million and $112 million, respectively. See page 4 for additional details.

(b) The third and fourth quarters of 2008 include pretax support agreement charges of $726 million and $163 million, respectively.

(c) The second quarter of 2009 contains $134 million of tax benefits related to the final LILO/SILO tax settlement.

(d) The third quarter of 2009 includes a $4.8 billion pretax charge related to investment securities portfolio restructuring.

(e) The fourth quarter of 2009, first quarter 2010 and second quarter 2010 include the financial results for the Insight acquisition, which closed November 2, 2009.

(f) Calculated excluding investment securities losses, TARP redemption premium/dividend, FDIC special assessment, SILO/LILO/tax settlements, 3rd and 4th quarters of 2008 support agreement charges, M&I expenses, benefit of tax settlements and tax discrete benefits and 4th quarter 2008, 2009 global efficiency restructuring charge and 1st quarter 2010 special litigation reserves.

(g) Calculated excluding investment securities losses, SILO/LILO charges, 3rd and 4th quarters of 2008 support agreement charges, asset-based taxes, FDIC special assessment, M&I expenses, 4th quarter 2008 and 2009 global efficiency restructuring charges, intangible amortization, 1st quarter 2010 special litigation reserves and 1st and 2nd quarters 2010 noncontrolling interests of consolidated asset management funds.

(h) Calculated excluding investment securities losses, SILO/LILO/tax settlements, 2008 support agreement charges, FDIC special assessment, M&I expenses, 4th quarter 2008 and 2009 global efficiency restructuring charges and benefit of tax settlements and tax discrete benefits.

(i) Calculated excluding the SILO/LILO/tax settlements, investment write-downs and expense related to consolidated asset management funds.

(j) Calculated excluding the SILO/LILO/tax settlements and including noncontrolling interest related to consolidated asset management funds.

(k) Includes $24 million for the first quarter of 2010 and $33 million for the second quarter of 2010 related to consolidated asset management funds.

Note: See pages 3 through 6 for additional details of revenue/expense items impacting continuing operations.

Page 2 of 19

THE BANK OF NEW YORK MELLON CORPORATION

CONTINUING OPERATIONS - 10 Quarter Trend

FEE AND OTHER REVENUE

(dollar amounts in millions unless otherwise noted)	2008												2009												2010
	1st Qtr			2nd Qtr			3rd Qtr			4th Qtr			1st Qtr			2nd Qtr			3rd Qtr (a)			4th Qtr			1st Qtr			2nd Qtr
Securities servicing fees
Asset servicing	$	658		$	671		$	653		$	599		$	519		$	574		$	600		$	621		$	608		$	622
Securities lending		245			202			155			187			90			97			43			29			29			46
Issuer services		376			444			477			388			364			372			359			368			333			354
Clearing services		263			264			259			279			253			250			236			223			230			245
Total securities servicing fees		1,542			1,581			1,544			1,453			1,226			1,293			1,238			1,241			1,200			1,267
Asset and wealth management fees		862			860			795			701			616			637			650			736			678			676
Foreign exchange & other trading		259			308			385			510			307			237			246			246			262			220
Treasury services		124			129			129			132			125			132			128			134			131			125
Distribution and servicing		98			110			107			106			111			107			94			85			76			77
Financing-related fees		47			51			44			44			48			54			56			57			50			48
Investment Income		41			74			47			45			(17	)		44			121			78			108			72
Other		82			28			37			67			15			9			84			3			37			73
Total fee revenue		3,055			3,141			3,088			3,058			2,431			2,513			2,617			2,580			2,542			2,558
Income of consolidated asset management funds, net of noncontrolling interest		—			—			—			—			—			—			—			—			41	(c)		32	(c)
Total fee revenue - Non-GAAP		3,055			3,141			3,088			3,058			2,431			2,513			2,617			2,580			2,583			2,590
Net securities gains (losses)		(73	)		(152	)		(162	)		(1,241	)		(295	)		(256	)		(4,833	)		15			7			13
Total fee and other revenue - Non-GAAP		2,982			2,989			2,926			1,817			2,136			2,257			(2,216	)		2,595			2,590			2,603
Fee and other revenue as a percentage of total revenue		80	%		89	%		81	%		63	%		73	%		76	%		n/m			78	%		75	%		77	%
Fee and other revenue as a percentage of total revenue - Non-GAAP (b)		80	%		80	%		80	%		74	%		76	%		78	%		79	%		78	%		76	%		78	%
Market value of assets under management at period-end (in billions)	$	1,105		$	1,113		$	1,067		$	928		$	881		$	926		$	966		$	1,115		$	1,105		$	1,047
Market value of assets under custody and administration at period-end (in trillions)	$	23.1		$	23.0		$	22.4		$	20.2		$	19.5		$	20.7		$	22.1		$	22.3		$	22.4		$	21.8
Market value of securities on loan at period-end (in billions)	$	660		$	588		$	470		$	326		$	293		$	290		$	299		$	247		$	253		$	248
S&P 500 Index - period-end		1323			1280			1166			903			798			919			1057			1115			1169			1031
S&P 500 Index - daily average		1353			1371			1252			916			809			891			995			1088			1123			1135

(a) The third quarter of 2009 includes a $4.8 billion charge related to investment securities portfolio restructuring.

(b) Excludes net securities gains/(losses) and SILO/LILO charges.

(c) Includes $25 million and $29 million previously included in asset and wealth management fees and $16 million and $3 million previously included in investment income for the first and second quarters of 2010, respectively.

Page 3 of 19

THE BANK OF NEW YORK MELLON CORPORATION

CONTINUING OPERATIONS

Average Balances and Interest Rates

	Quarter Ended
	March 31, 2008					June 30, 2008					September 30, 2008					December 31, 2008					March 31, 2009					June 30, 2009
(dollar amounts in millions)	Average balance			Average rates		Average balance			Average rates		Average balance			Average rates		Average balance			Average rates		Average balance			Average rates		Average balance			Average rates
Assets
Interest-earning assets:
Interest-bearing deposits with banks (primarily foreign)	$	38,658		4.28	%	$	43,361		3.82	%	$	43,999		3.90	%	$	78,680		2.65	%	$	56,505		1.56	%	$	56,917		1.18	%
Interest-bearing deposits with Federal Reserve bank		—		—			—		—			—		—			—		—			23,192		0.37			6,338		0.37
Other Short Term Investment (FRB)		—		—			—		—			954		2.95			8,378		3.05			1,269		3.15			—		—
Federal funds sold and securities under resale agreements		8,191		3.15			6,736		2.21			7,019		1.97			4,050		1.32			2,310		0.81			2,899		1.29
Margin loans		5,258		4.47			5,802		3.36			5,764		3.27			4,885		2.35			4,219		1.63			4,134		1.62
Non-margin loans:
Domestic offices		27,885		4.37			26,550		(1.97	)(a)		25,932		1.60	(b)		28,233		2.70			21,630		2.91			20,740		3.18
Foreign offices		13,881		4.55			13,281		3.97			13,739		3.71			15,208		3.73			13,109		2.56			12,155		2.21
Total non-margin loans		41,766		4.43			39,831		0.01	(a)		39,671		2.33	(b)		43,441		3.06			34,739		2.78			32,895		2.82
Securities
U.S. government obligations		397		3.52			542		3.08			679		3.03			762		2.73			787		2.50			1,679		1.67
U.S. government agency obligations		10,613		4.78			10,433		4.29			10,894		4.33			11,438		4.29			12,063		3.71			14,748		3.74
Obligations of states and political subdivisions		681		7.64			654		5.74			701		7.44			941		7.73			767		6.71			710		6.92
Other securities		35,840		5.26			32,755		5.22			30,590		5.42			26,916		5.95			29,848		4.47			34,766		2.85
Trading securities		1,459		5.36			1,918		3.74			1,791		2.76			2,148		3.96			1,728		2.86			2,179		2.50
Total securities		48,990		5.18			46,302		4.93			44,655		5.04			42,205		5.38			45,193		4.22			54,082		3.10
Total interest-earning assets		142,863		4.55			142,032		3.02	(a)		142,062		3.69	(b)		181,639		3.36			167,427		2.37			157,265		2.16
Allowance for credit losses		(297	)				(295	)				(329	)				(334	)				(378	)				(426	)
Cash and due from banks		5,789					5,356					7,796					5,806					4,824					3,412
Other assets		49,782					46,504					46,937					54,499					45,880					45,975
Discontinued Operations		2,653					2,400					2,361					2,352					2,366					2,307
Total Asset Consol VIE FAS 167		—					—					—					—					—					—
Total Assets	$	200,790				$	195,997				$	198,827				$	243,962				$	220,119				$	208,533
Liabilities and total equity
Interest-bearing liabilities:
Money market rate accounts	$	12,577		1.67	%	$	12,869		0.98	%	$	11,785		0.88	%	$	18,274		0.53	%	$	18,563		0.10	%	$	19,037		0.10	%
Savings		902		1.89			971		1.50			979		0.93			1,013		0.64			1,165		0.61			1,070		0.44
Certificates of deposit of $100,000 & over		2,313		3.91			2,116		2.60			1,928		2.19			1,812		2.43			1,479		1.11			942		1.00
Other time deposits		8,300		2.45			6,335		1.88			5,393		1.99			5,052		1.34			5,574		0.55			4,190		0.48
Foreign offices		67,914		2.85			71,641		2.22			65,931		2.19			69,575		1.12			75,202		0.31			73,657		0.14
Total interest-bearing deposits		92,006		2.67			93,932		2.03			86,016		1.99			95,726		1.04			101,983		0.30			98,896		0.16
Federal funds purchased and securities under repurchase agreements		4,138		2.14			3,791		1.02			4,816		1.18			5,738		0.27			1,839		0.09			2,485		(0.46	)
Other borrowed funds		3,343		3.50			2,840		3.21			3,303		2.31			3,558		2.13			3,785		1.57			2,756		1.04
Borrowings from FRB Related to ABCP		—		—			—		—			954		2.25			8,378		2.25			1,269		2.25			—		—
Payables to customers and broker-dealers		4,942		1.94			5,550		1.32			5,910		1.19			5,570		0.62			3,797		0.20			4,901		0.13
Long-term debt		17,125		4.51			16,841		3.58			15,993		3.62			15,467		3.79			15,493		2.72			16,793		2.35
Total interest-bearing liabilities		121,554		2.91			122,954		2.21			116,992		2.15			134,437		1.41			128,166		0.64			125,831		0.46
Total noninterest-bearing deposits		25,726					24,300					32,953					51,729					43,051					32,852
Other liabilities		21,169					17,707					18,396					26,601					18,523					18,578
Discontinued Operations		2,653					2,400					2,361					2,352					2,366					2,307
VIE Liabilities & Obligations FAS 167		—					—					—					—					—					—
Total Shareholders’ Equity		29,551					28,507					27,996					28,771					27,978					28,934
Noncontrolling interest		137					129					129					72					35					31
Total liabilities and shareholders’ equity	$	200,790				$	195,997				$	198,827				$	243,962				$	220,119				$	208,533
Net interest margin – Taxable equivalent basis				2.09	%				1.11	%				1.92	%				2.32	%				1.87	%				1.80	%
Net interest margin excluding the SILO/LILO charge – Non-GAAP							2.17	%				2.24	%

(a) Excluding the SILO/LILO charge, the rates on Domestic office loans, Non-margin loans and Interest-earning assets were 3.71%, 3.80% and 4.08%, respectively.

(b) Excluding the SILO/LILO charge, the rates on Domestic office loans, Non-margin loans and Interest-earning assets were 3.33%, 3.46% and 4.01%, respectively.

Note: Interest and average rates were calculated on a taxable equivalent basis, at tax rates of approximately 35%, using dollar amounts in thousands and the actual number of days in the year.

Page 4 of 19

THE BANK OF NEW YORK MELLON CORPORATION

CONTINUING OPERATIONS

Average Balances and Interest Rates (continued)

	Quarter Ended
	September 30, 2009					December 31, 2009					March 31, 2010					June 30, 2010
(dollar amounts in millions)	Average balance			Average rates		Average balance			Average rates		Average balance			Average rates		Average balance			Average rates
Assets
Interest-earning assets:
Interest-bearing deposits with banks (primarily foreign)	$	54,343		1.08	%	$	55,467		1.09	%	$	55,800		1.03	%	$	50,741		1.01	%
Interest-bearing deposits with Federal Reserve bank		6,976		0.32			11,430		0.32			12,129		0.33			18,280		0.34
Other Short Term Investment (FRB)		—		—			—		—			—		—			—		—
Federal funds sold and securities under resale agreements		3,443		1.19			4,276		0.65			3,859		0.71			4,652		0.66
Margin loans		4,335		1.55			4,665		1.55			5,241		1.49			5,786		1.49
Non-margin loans:
Domestic offices		19,412		3.22			20,212		2.89			19,510		3.12			20,750		2.89
Foreign offices		10,788		1.99			10,362		1.75			9,463		1.62			10,128		1.53
Total non-margin loans		30,200		2.78			30,574		2.51			28,973		2.63			30,878		2.45
Securities
U.S. government obligations		4,605		1.45			5,729		1.44			6,600		1.40			6,162		1.46
U.S. government agency obligations		17,635		3.79			19,530		3.59			19,429		3.58			19,629		3.48
Obligations of states and political subdivisions		639		7.30			607		7.35			670		6.37			638		6.56
Other securities		31,010		3.04			29,707		3.49			28,653		4.20			27,601		4.14
Trading securities		1,973		2.30			2,090		2.53			2,075		2.49			2,752		2.62
Total securities		55,862		3.16			57,663		3.32			57,427		3.63			56,782		3.58
Total interest-earning assets		155,159		2.14			164,075		2.09			163,429		2.18			167,119		2.08
Allowance for credit losses		(425	)				(448	)				(502	)				(517	)
Cash and due from banks		3,247					3,104					3,514					3,673
Other assets		45,728					45,481					45,346					46,266
Discontinued Operations		2,077					1,993					898					260
Total Asset Consol VIE FAS 167		—					—					12,730					12,040
Total Assets	$	205,786				$	214,205				$	225,415				$	228,841
Liabilities and total equity
Interest-bearing liabilities:
Money market rate accounts	$	16,817		0.09	%	$	20,062		0.08	%	$	21,741		0.09	%	$	24,279		0.10	%
Savings		1,115		0.32			1,196		0.49			1,372		0.27			1,389		0.27
Certificates of deposit of $100,000 & over		847		0.62			589		0.32			648		0.25			332		0.16
Other time deposits		5,058		0.40			4,872		0.43			5,224		0.30			5,902		0.26
Foreign offices		69,795		0.08			71,685		0.10			72,049		0.16			68,061		0.19
Total interest-bearing deposits		93,632		0.11			98,404		0.12			101,034		0.16			99,963		0.17
Federal funds purchased and securities under repurchase agreements		3,075		0.20			3,361		0.14			3,697		0.07			4,441		0.19
Other borrowed funds		2,286		1.49			2,618		1.86			2,805		1.97			4,223		2.08
Borrowings from FRB Related to ABCP		—		—			—		—			—		—			—		—
Payables to customers and broker-dealers		5,844		0.10			6,476		0.07			6,372		0.08			6,596		0.09
Long-term debt		17,393		1.74			17,863		1.89			16,808		1.50			16,462		1.75
Total interest-bearing liabilities		122,230		0.37			128,722		0.40			130,716		0.36			131,685		0.43
Total noninterest-bearing deposits		34,920					34,991					33,330					34,628
Other liabilities		18,386					19,633					18,420					20,042
Discontinued Operations		2,077					1,993					898					260
VIE Liabilities & Obligations FAS 167		—					—					11,540					11,046
Total Shareholders’ Equity		28,144					28,843					29,715					30,434
Noncontrolling interest		29					23					796					746
Total liabilities and total equity	$	205,786				$	214,205				$	225,415				$	228,841
Net interest margin - Taxable equivalent basis				1.85	%				1.77	%				1.89	%				1.74	%
Net interest margin excluding the SILO/LILO charge - Non-GAAP

Note: Interest and average rates were calculated on a taxable equivalent basis, at tax rates of approximately 35%, using dollar amounts in thousands and the actual number of days in the year.

Page 5 of 19

THE BANK OF NEW YORK MELLON CORPORATION

CONTINUING OPERATIONS - 10 Quarter Trend

NONINTEREST EXPENSE

	2008								2009									2010
(dollar amounts in millions)	1st Qtr		2nd Qtr		3rd Qtr (b)		4th Qtr (b)		1st Qtr		2nd Qtr		3rd Qtr			4th Qtr		1st Qtr		2nd Qtr
Staff:
Compensation (a)	$	803	$	818	$	836	$	785	$	732	$	740	$	747		$	766	$	753	$	763
Incentives		365		385		241		256		247		241		242			266		284		272
Employee benefits		190		200		171		139		190		172		168			189		183		199
Total staff		1,358		1,403		1,248		1,180		1,169		1,153		1,157			1,221		1,220		1,234
Professional, legal and other purchased services (a)		238		259		251		273		237		237		265			278		241		256
Net occupancy		128		138		163		141		139		142		142			141		137		143
Distribution and servicing		130		131		133		123		107		106		104			109		109		106
Software		79		88		78		86		81		93		95			98		94		91
Sub-custodian		65		72		62		55		39		60		49			55		52		65
Furniture and equipment		79		78		80		86		77		76		76			80		75		71
Business development		65		75		62		76		44		49		45			76		52		68
Other		215		227		1,013		448		202		233		232			226		186		201
Subtotal	$	2,357	$	2,471	$	3,090	$	2,468	$	2,095	$	2,149	$	2,165		$	2,284	$	2,166	$	2,235
Special Litigation Reserves		N/A		N/A		N/A		N/A		N/A		N/A		N/A			N/A		164		N/A
FDIC special assessment		—		—		—		—		—		61		—			—		—		—
Amortization of intangible assets		119		123		118		113		107		108		104			107		97		98
Restructuring charges		—		—		—		181		10		6		(5	)		139		7		(15	)
Merger & integration expense:
The Bank of New York Mellon Corporation		121		146		107		97		68		59		54			52		26		14
Acquired Corporate Trust Business		5		3		4		—		—		—		—			—		—		—
Total noninterest expense	$	2,602	$	2,743	$	3,319	$	2,859	$	2,280	$	2,383	$	2,318		$	2,582	$	2,460	$	2,332
Employees at period-end (c)		42,000		42,500		42,900		42,500		41,700		41,800		42,000			42,200		42,300		42,700

(a) In the second quarter of 2009, certain temporary/consulting expenses were reclassified from professional, legal and other purchased services to compensation expense. The reclassification totaled $16 million, $19 million, $35 million and $33 million for the first, second, third and fourth quarters of 2008 and $24 million in the first quarter of 2009.

(b) The third and fourth quarters of 2008 include support agreement charges of $726 million and $163 million, respectively.

(c) Represents full time employees.

Page 6 of 19

THE BANK OF NEW YORK MELLON CORPORATION

ASSETS UNDER MANAGEMENT/ CUSTODY AND ADMINISTRATION / SECURITIES LENDING - 10 Quarter Trend

	2008												2009												2010
(dollar amounts in billions unless otherwise noted)	1st Qtr			2nd Qtr			3rd Qtr			4th Qtr			1st Qtr			2nd Qtr			3rd Qtr			4th Qtr			1st Qtr			2nd Qtr
Market value of assets under management at period-end (in billions)
Institutional	$	636		$	625		$	585		$	445		$	394		$	425		$	461		$	611		$	620		$	595
Mutual Funds		373			393			384			400			413			421			421			416			396			370
Private Client		96			95			98			83			74			80			84			88			89			82
Total market value of assets under management		1,105			1,113			1,067			928			881			926			966			1,115			1,105			1,047
Composition of assets under management at period-end
Equity		40	%		38	%		36	%		29	%		27	%		31	%		34	%		31	%		32	%		30	%
Money Market		29	%		31	%		34	%		43	%		45	%		43	%		39	%		32	%		30	%		30	%
Fixed Income		18	%		18	%		20	%		18	%		19	%		17	%		17	%		21	%		21	%		23	%
Alternative investments and overlay		13	%		13	%		10	%		10	%		9	%		9	%		10	%		16	%		17	%		17	%
Total		100	%		100	%		100	%		100	%		100	%		100	%		100	%		100	%		100	%		100	%
Market value of assets under custody and administration at period-end (in trillions)	$	23.1		$	23.0		$	22.4		$	20.2		$	19.5		$	20.7		$	22.1		$	22.3		$	22.4		$	21.8
Market value of securities on loan at period-end	$	660		$	588		$	470		$	326		$	293		$	290		$	299		$	247		$	253		$	248
Market Indices
S&P 500 Index (a)		1323			1280			1166			903			798			919			1057			1115			1169			1031
S&P 500 Index - daily average		1353			1371			1252			916			809			891			995			1088			1123			1135
FTSE 100 Index (a)		5702			5626			4902			4434			3926			4249			5134			5413			5680			4917
FTSE 100 Index-daily average		5891			5979			5359			4270			4040			4258			4708			5235			5431			5361
NASDAQ Composite Index (a)		2279			2293			2092			1577			1529			1835			2122			2269			2398			2109
Lehman Brothers Aggregate Bond Index (a)		281			270			256			275			262			280			304			301			300			299
MSCI EAFE Index (a)		2039			1967			1553			1237			1056			1307			1553			1581			1584			1348
NYSE Volume (in billions)		159			141			180			181			161			151			126			112			103			140
NASDAQ Volume (in billions)		149			135			145			148			136			152			144			131			143			159

(a) Period end

Page 7 of 19

THE BANK OF NEW YORK MELLON CORPORATION

ASSETS UNDER MANAGEMENT NET FLOWS - 10 Quarter Trend

	2008												2009												2010
(dollar amounts in billions )	1st Qtr			2nd Qtr			3rd Qtr			4th Qtr			1st Qtr			2nd Qtr			3rd Qtr			4th Qtr			1st Qtr			2nd Qtr
Market value of assets under management at beginning of period	$	1,121		$	1,105		$	1,113		$	1,067		$	928		$	881		$	926		$	966		$	1,115		$	1,105
Net Flows
Long-term		(6	)		(8	)		(6	)		(22	)		(1	)		(17	)		(2	)		14			16			12
Money market		29			21			14			28			(11	)		(2	)		(14	)		(22	)		(25	)		(17	)
Total net inflows		23			13			8			6			(12	)		(19	)		(16	)		(8	)		(9	)		(5	)
Net Market appreciation/(depreciation)		(39	)		(6	)		(54	)		(137	)		(35	)		64			56			10			(1	)		(53	)
Acquisitions/other		—			1			—			(8	)		—			—			—			147	(a)		—			—
Market value of assets under management at end of period	$	1,105		$	1,113		$	1,067		$	928		$	881		$	926		$	966		$	1,115		$	1,105		$	1,047

(a) Represents acquisitions of Insight ($139 billion) and 20% interest in Siguler Guff ($8 billion).

Page 8 of 19

THE BANK OF NEW YORK MELLON CORPORATION

BUSINESS SEGMENTS

ASSET MANAGEMENT - 10 Quarter Trend

	2008												2009												2010
(dollar amounts in millions unless otherwise noted)	1st Qtr			2nd Qtr			3rd Qtr			4th Qtr			1st Qtr			2nd Qtr			3rd Qtr			4th Qtr (a)			1st Qtr (a), (b)			2nd Qtr (a), (b)
Revenue:
Asset and wealth management
Mutual funds		323			340			328			297			263			266			274			266			242			242
Institutional clients		304			290			265			193			181			175			197			227			264			264
Private clients		45			47			43			35			32			31			34			38			38			37
Performance fees		20			16			3			44			7			26			1			59			13			19
Total asset and wealth management		692			693			639			569			483			498			506			590			557			562
Distribution and servicing		86			99			93			93			92			90			84			84			75			75
Other fee revenue (c)		(27	)		4			(47	)		(100	)		(96	)		(59	)		2			6			17			—
Total fee and other revenue		751			796			685			562			479			529			592			680			649			637
Total revenue		763			805			694			607			494			536			599			683			649			638
Noninterest expenses (ex. intangible amortization and support agreement charges)		557			528			488			478			412			419			415			465			453			474
Income before taxes (ex. intangible amortization and support agreement charges)		206			277			206			129			82			117			184			218			196			164
Support agreement charges		—			5			328			2			(14	)		—			32			—			—			(7	)
Amortization of intangible assets		62			68			64			61			55			55			53			56			50			50
Income before taxes		144			204			(186	)		66			41			62			99			162			146			121
Average assets	$	13,238		$	13,410		$	13,286		$	13,135		$	12,663		$	12,404		$	12,424		$	12,859		$	25,187		$	24,895
Market value of assets under management at period-end (in billions) (d)	$	1,029		$	1,040		$	995		$	862		$	818		$	860		$	897		$	1,045		$	1,034		$	980
Pre-tax operating margin
GAAP		19	%		25	%		-27	%		11	%		8	%		12	%		16	%		24	%		23	%		19	%
Non-GAAP adjusted (e)		27	%		34	%		-18	%		21	%		19	%		22	%		25	%		32	%		30	%		27	%

(a) The fourth quarter of 2009, the first quarter 2010 and the second quarter 2010 include the financial results for the Insight acquisition, which closed November 2, 2009.

(b) Total fee and other revenue for the first and second quarters of 2010 includes income from consolidated asset management funds of $65 million and $65 million, respectively, and net income attributable to noncontrolling interest of $24 million and $33 million, respectively. The net of these income statement line items is included above in institutional client revenue of $25 million and $29 million, respectively, and other revenue of $16 million and $3 million, respectively.

(c) Includes investment write-downs of $24 million and $51 million in the first and fourth quarters of 2008, $34 million and $45 million in the first and second quarters of 2009.

(d) Includes amounts subadvised for/by other segments.

(e) Excluding support agreement charges, investment write-downs and intangible amortization, pre-tax operating margin (Non-GAAP) was 29%, 35%, 30% and 27% for the first, second, third and fourth quarters of 2008, respectively, and 22%, 28%, 31% and 32% for the first, second, third and fourth quarters of 2009, respectively, and 30% and 26% for the first and second quarters of 2010, respectively.

Page 9 of 19

THE BANK OF NEW YORK MELLON CORPORATION

BUSINESS SEGMENTS

WEALTH MANAGEMENT - 10 Quarter Trend

	2008												2009												2010
(dollar amounts in millions unless otherwise noted)	1st Qtr			2nd Qtr			3rd Qtr			4th Qtr			1st Qtr			2nd Qtr			3rd Qtr			4th Qtr			1st Qtr			2nd Qtr
Revenue:
Asset and wealth management		153			150			141			119			122			128			133			136			136			134
Other fee revenue		13			11			22			15			19			12			13			15			10			13
Total fee and other revenue		166			161			163			134			141			140			146			151			146			147
Net interest revenue (expense)		46			48			50			56			50			49			49			46			55			56
Total revenue		212			209			213			190			191			189			195			197			201			203
Provision for credit losses		—			(1	)		1			—			—			—			—			1			—			—
Noninterest expenses (ex. intangible amortization and support agreement charges)		142			143			142			143			129			136			135			138			136			145
Income before taxes (ex. intangible amortization and support agreement charges)		70			67			70			47			62			53			60			58			65			58
Support agreement charges		—			—			15			—			—			—			—			—			—			—
Amortization of intangible assets		13			13			14			14			11			11			12			11			9			9
Income before taxes		57			54			41			33			51			42			48			47			56			49
Average loans	$	4,390		$	4,816		$	5,231		$	5,309		$	5,388		$	5,684		$	6,010		$	6,191		$	6,302		$	6,350
Average assets	$	10,496		$	10,254		$	9,801		$	9,632		$	9,611		$	9,131		$	9,122		$	9,246		$	9,722		$	10,399
Average deposits	$	7,993		$	7,782		$	7,318		$	7,131		$	7,058		$	6,628		$	6,602		$	6,804		$	7,310		$	7,991
Market value of total client assets at period-end (in billions) (a)	$	164		$	162		$	158		$	139		$	132		$	142		$	151		$	154		$	157		$	150
Pre-tax operating margin
GAAP		27	%		26	%		20	%		18	%		27	%		22	%		25	%		24	%		28	%		24	%
Non-GAAP adjusted (excluding intangible amortization)		33	%		32	%		26	% (b)		25	%		32	%		28	%		31	%		29	%		32	%		28	%

(a) Includes assets under management, before amounts subadvised by/for other segments, of $76 billion and $71 billion in the first and second quarters of 2010; of $66 billion, $69 billion, $74 billion and $75 billion in the first, second, third and fourth quarters of 2009; of $84 billion, $81 billion, $77 billion and $69 billion in the first, second, third and fourth quarters of 2008.

(b) Excluding support agreement charges, pre-tax operating margin (Non-GAAP) was 34% for the third quarter of 2008.

Note: On June 3, 2008, we completed the sale of Mellon 1st Business Bank, National Association (N.A.); the financial results have been moved from the Wealth Management segment to the Other segment.
Historical segment results have been restated to reflect these changes.

Page 10 of 19

THE BANK OF NEW YORK MELLON CORPORATION

BUSINESS SEGMENTS

ASSET SERVICING - 10 Quarter Trend

	2008												2009												2010
(dollar amounts in millions unless otherwise noted)	1st Qtr			2nd Qtr			3rd Qtr			4th Qtr			1st Qtr			2nd Qtr			3rd Qtr			4th Qtr			1st Qtr			2nd Qtr
Revenue:
Securities servicing fees - ex. securities lending (a)		634			648			631			583			504			557			573			581			569			586
Securities lending revenue		229			182			143			163			79			85			32			25			24			30
Foreign Exchange and other trading activities		202			228			262			372			210			216			190			177			170			207
Other fee revenue		44			36			47			25			48			46			50			33			35			83
Total fee and other revenue		1,109			1,094			1,083			1,143			841			904			845			816			798			906
Net interest revenue (expense)		222			213			240			411			249			211			229			205			210			216
Total revenue		1,331			1,307			1,323			1,554			1,090			1,115			1,074			1,021			1,008			1,122
Noninterest expenses (ex. intangible amortization and support agreement charges)		733			826			825			835			704			721			748			788			740			765
Income before taxes (ex. intangible amortization and support agreement charges)		598			481			498			719			386			394			326			233			268			357
Support agreement charges		14			(14	)		381			160			6			(15	)		(19	)		(5	)		(23	)		16
Amortization of intangible assets		7			5			6			6			7			9			6			6			6			5
Income before taxes		577			490			111			553			373			400			339			232			285			336
Average loans (a)	$	8,967		$	7,284		$	8,538		$	10,376		$	5,743		$	4,744		$	3,727		$	3,962		$	3,378		$	4,683
Average assets	$	52,468		$	54,763		$	57,795		$	71,455		$	65,204		$	58,339		$	59,914		$	59,980		$	59,704		$	62,940
Average deposits	$	46,092		$	48,436		$	51,492		$	64,500		$	57,084		$	50,583		$	52,271		$	51,755		$	52,183		$	55,343
Pre-tax operating margin
GAAP		43	%		37	%		8	%		36	%		34	%		36	%		32	%		23	%		28	%		30	%
Non-GAAP adjusted (excluding intangible amortization)		43	%		38	%		9	%(c)		36	%(c)		35	%		37	%		32	%		23	%		29	%		30	%
MEMO:
Market value of securities on loan at period-end (in billions) (b)	$	660		$	588		$	470		$	326		$	293		$	290		$	299		$	247		$	253		$	248

(a) Loan balances are primarily related to Broker-Dealer Services business within Asset Servicing.

(b) Represents the total amount of securities on loan (both cash and non-cash) managed by the Asset Servicing segment.

(c) Excluding support agreement charges, pre-tax operating margin (Non-GAAP) was 38% in the third quarter of 2008 and 46% in the fourth quarter of 2008.

Page 11 of 19

THE BANK OF NEW YORK MELLON CORPORATION

BUSINESS SEGMENTS

ISSUER SERVICES - 10 Quarter Trend

	2008												2009												2010
(dollar amounts in millions unless otherwise noted)	1st Qtr			2nd Qtr			3rd Qtr			4th Qtr			1st Qtr			2nd Qtr			3rd Qtr			4th Qtr			1st Qtr			2nd Qtr
Revenue:
Securities servicing fees - Issuer services		374			443			475			392			363			373			359			367			333			353
Other fee revenue		35			38			56			46			42			40			30			43			25			27
Total fee and other revenue		409			481			531			438			405			413			389			410			358			380
Net interest revenue (expense)		153			176			170			211			200			185			180			203			252			216
Total revenue		562			657			701			649			605			598			569			613			610			596
Provision for credit losses		—			—			—			—			—			—			—			—			—			—
Noninterest expenses (ex. intangible amortization)		318			349			349			319			297			305			304			318			304			318
Income before taxes (ex. intangible amortization)		244			308			352			330			308			293			265			295			306			278
Amortization of intangible assets		20			20			21			20			21			20			20			20			20			21
Income before taxes		224			288			331			310			287			273			245			275			286			257
Average assets	$	32,227		$	35,167		$	34,264		$	38,987		$	50,864		$	52,161		$	47,975		$	52,028		$	52,838		$	48,938
Average deposits	$	27,632		$	30,557		$	29,546		$	34,294		$	45,963		$	47,293		$	43,183		$	47,320		$	48,470		$	44,560
Pre-tax operating margin
GAAP		40	%		44	%		47	%		48	%		48	%		46	%		43	%		45	%		47	%		43	%
Non-GAAP adjusted (excluding intangible amortization)		43	%		47	%		50	%		51	%		51	%		49	%		47	%		48	%		50	%		47	%

Page 12 of 19

THE BANK OF NEW YORK MELLON CORPORATION

BUSINESS SEGMENTS

CLEARING SERVICES - 10 Quarter Trend

	2008												2009												2010
(dollar amounts in millions unless otherwise noted)	1st Qtr			2nd Qtr			3rd Qtr			4th Qtr			1st Qtr			2nd Qtr			3rd Qtr			4th Qtr			1st Qtr			2nd Qtr
Revenue:
Securities servicing fees - Clearing services		250			259			254			277			249			248			232			219			227			240
Other fee revenue		53			64			63			72			72			66			59			45			44			36
Total fee and other revenue		303			323			317			349			321			314			291			264			271			276
Net interest revenue (expense)		75			75			75			96			82			87			81			90			95			93
Total revenue		378			398			392			445			403			401			372			354			366			369
Provision for credit losses		—			—			—			—			—			—			—			—			—			—
Noninterest expenses (ex. intangible amortization)		263			291			282			268			252			256			245			241			255			270
Income before taxes (ex. intangible amortization)		115			107			110			177			151			145			127			113			111			99
Amortization of intangible assets		6			6			8			6			7			7			6			7			6			7
Income before taxes		109			101			102			171			144			138			121			106			105			92
Average loans	$	6,629		$	7,263		$	7,384		$	6,735		$	5,927		$	5,918		$	6,058		$	6,847		$	7,622		$	8,448
Average assets	$	16,408		$	17,395		$	18,471		$	21,128		$	18,600		$	17,014		$	17,827		$	20,365		$	20,338		$	21,550
Pre-tax operating margin
GAAP		29	%		25	%		26	%		38	%		36	%		34	%		33	%		30	%		29	%		25	%
Non-GAAP adjusted (excluding intangible amortization)		30	%		27	%		28	%		40	%		38	%		36	%		34	%		32	%		30	%		27	%

Note: During the first quarter of 2009, we moved the financial results of the Execution business from the Clearing Services segment to the Other segment. Historical results have been restated to reflect these changes.

Page 13 of 19

THE BANK OF NEW YORK MELLON CORPORATION

BUSINESS SEGMENTS

TREASURY SERVICES - 10 Quarter Trend

	2008												2009												2010
(dollar amounts in millions unless otherwise noted)	1st Qtr			2nd Qtr			3rd Qtr			4th Qtr			1st Qtr			2nd Qtr			3rd Qtr			4th Qtr			1st Qtr			2nd Qtr
Revenue:
Treasury services		121			125			125			129			121			128			124			130			127			121
Other fee revenue		103			125			135			93			106			52			82			92			98			75
Total fee and other revenue		224			250			260			222			227			180			206			222			225			196
Net interest revenue (expense)		185			155			159			231			159			157			149			148			176			161
Total revenue		409			405			419			453			386			337			355			370			401			357
Provision for credit losses		—			—			—			—			—			—			—			—			—			—
Noninterest expenses (ex. intangible amortization)		203			200			201			200			189			191			180			187			182			188
Income before taxes (ex. intangible amortization)		206			205			218			253			197			146			175			183			219			169
Amortization of intangible assets		7			7			6			7			6			7			6			6			6			5
Income before taxes		199			198			212			246			191			139			169			177			213			164
Average loans	$	15,690		$	15,938		$	14,995		$	16,353		$	13,921		$	13,228		$	11,648		$	10,982		$	10,436		$	10,290
Average assets	$	24,153		$	21,227		$	22,384		$	34,585		$	28,665		$	24,764		$	24,223		$	26,275		$	26,716		$	26,486
Average deposits	$	20,056		$	17,316		$	18,397		$	30,052		$	24,867		$	20,321		$	19,989		$	22,138		$	22,257		$	22,209
Pre-tax operating margin
GAAP		49	%		49	%		51	%		54	%		50	%		41	%		48	%		48	%		53	%		46	%
Non-GAAP adjusted (excluding intangible amortization)		50	%		51	%		52	%		56	%		51	%		43	%		49	%		50	%		55	%		47	%

Page 14 of 19

THE BANK OF NEW YORK MELLON CORPORATION

BUSINESS SEGMENTS

OTHER - 10 Quarter Trend

	2008												2009												2010
(dollar amounts in millions unless otherwise noted)	1st Qtr			2nd Qtr (b)			3rd Qtr (b)			4th Qtr (c)			1st Qtr			2nd Qtr			3rd Qtr			4th Qtr (c)			1st Qtr (d)			2nd Qtr
Revenue:
Total fee and other revenue (a)		20			(116	)		(113	)		(1,031	)		(278	)		(223	)		(4,685	)		52			143			61
Net interest revenue (expense)		50			(288	)		(22	)		(3	)		20			4			21			29			(23	)		(21	)
Total revenue		70			(404	)		(135	)		(1,034	)		(258	)		(219	)		(4,664	)		81			120			40
Provision for credit losses		14			14			22			54			59			61			147			64			35			20
Noninterest expenses (ex. intangible amortization and merger & integration expense)		127			143			79			63			120			136			125			152			119			66
Income before taxes and extraordinary (loss) (ex. intangible amortization and merger & integration expense)		(71	)		(561	)		(236	)		(1,151	)		(437	)		(416	)		(4,936	)		(135	)		(34	)		(46	)
Amortization of intangible assets		4			4			(1	)		(1	)		—			(1	)		1			1			—			1
Special Litigation Reserves		N/A			N/A			N/A			N/A			N/A			N/A			N/A			N/A			164			N/A
FDIC special assessment		—			—			—			—			—			61			—			—			—			—
Restructuring		—			—			—			181			10			6			(5	)		139			7			(15	)
Merger & integration expenses		126			149			111			97			68			59			54			52			26			14
Income before taxes and extraordinary (loss)		(201	)		(714	)		(346	)		(1,428	)		(515	)		(541	)		(4,986	)		(327	)		(231	)		(46	)
Average loans	$	11,348		$	10,332		$	9,287		$	9,553		$	7,979		$	7,455		$	7,092		$	7,257		$	6,476		$	6,836
Average assets	$	49,147		$	41,381		$	40,465		$	52,688		$	32,146		$	32,413		$	32,224		$	31,459		$	30,012		$	33,374
Average deposits	$	15,959		$	14,141		$	12,216		$	11,478		$	10,062		$	6,923		$	6,507		$	5,378		$	4,144		$	4,457

(a) Total fee and other revenue includes investment write-downs of $51 million, $151 million, $156 million and $1,176 million for the first, second, third and fourth quarters of 2008; $316 million, $209 million and $4.8 billion in the first, second and third quarters of 2009.

(b) The second and third quarter of 2008 include SILO/LILO charges which reduced net interest revenue by $377 million and $112 million, respectively.

(c) The fourth quarter of 2008 and the fourth quarter of 2009 includes a pretax global efficiency restructuring charge of $181 million and $139 million, respectively.

(d) The first quarter of 2010 includes a $164 million pretax charge related to special litigation reserves.

Notes: The Other segment primarily includes the results of leasing operations, corporate treasury activities, business exits and corporate overhead.

On June 3, 2008, we completed the sale of Mellon 1st Business Bank, National Association (N.A.); the financial results have been moved from the Wealth Management segment to the Other segment. During the first quarter of 2009, the financial results of the Execution business have been moved from the Clearing Services segment to the Other segment. On June 30, 2009, we adopted discontinued operations accounting for Mellon United National Bank (MUNB) located in Miami, Florida; previously, the financial results were included in the Other segment. On January 15, 2010, we completed the sale of MUNB. Historical segment results have been restated to reflect all of these changes.

Page 15 of 19

THE BANK OF NEW YORK MELLON CORPORATION

BUSINESS SEGMENTS

	Asset Management									Wealth Management									Asset Servicing									Issuer Services
(dollar amounts in millions unless otherwise noted)	2009			2008			2007			2009			2008			2007			2009			2008			2007			2009			2008			2007
Revenue:
Securities servicing fees
Asset servicing		86			124			99			27			27			16			2,436			3,213			2,763			1			23			—
Issuer services		—			—			—			—			—			—			1			1			—			1,462			1,684			1,660
Clearing services		12			14			12			—			—			—			—			—			—			—			—			—
Total securities servicing fees		98			138			111			27			27			16			2,437			3,214			2,763			1,463			1,707			1,660
Asset and wealth management		1,984			2,510			2,724			519			563			609			—			—			—			1			—			—
Performance fees		93			83			171			—			—			—			—			—			—			—			—			—
Foreign exchange & other trading		20			20			14			7			14			3			793			1,064			604			85			80			37
Treasury services		—			—			—			3			3			3			10			8			11			2			1			—
Distribution and service fees		350			371			357			1			4			1			9			10			2			—			—			1
Financing-related fees		6			10			8			3			4			8			11			14			40			—			—			—
Investment Income		31			(82	)		(10	)		—			—			—			—			—			—			—			—			—
Other		(224	)		(178	)		(77	)		15			9			(9	)		146			130			170			66			71			66
Total fee revenue		2,358			2,872			3,298			575			624			631			3,406			4,440			3,590			1,617			1,859			1,764
Securities gains (losses)		(78	)		(78	)		(9	)		3			—			—			—			(11	)		—			—			—			1
Total fee and other revenue		2,280			2,794			3,289			578			624			631			3,406			4,429			3,590			1,617			1,859			1,765
Net interest revenue (expense)		32			75			5			194			200			170			894			1,086			755			768			710			617
Total revenue		2,312			2,869			3,294			772			824			801			4,300			5,515			4,345			2,385			2,569			2,382
Provision for credit losses		—			—			—			1			—			—			—			—			—			—			—			—
Noninterest expenses (ex. M&I expenses and intangible amortization)		1,729			2,386			2,158			538			585			558			2,928			3,760			2,999			1,224			1,335			1,203
Income before taxes and extraordinary (loss) (ex. M&I expenses and intangible amortization)		583			483			1,136			233			239			243			1,372			1,755			1,346			1,161			1,234			1,179
Amortization of intangible assets		219			255			166			45			54			29			28			24			18			81			81			75
Merger & integration expense		—			—			—			—			—			—			—			—			—			—			—			—
Income before taxes, noncontrolling interest and extraordinary (loss)		364			228			970			188			185			214			1,344			1,731			1,328			1,080			1,153			1,104
Average loans	$	—		$	—		$	—		$	5,821		$	4,938		$	4,089		$	4,537		$	8,795		$	7,810		$	—		$	—		$	—
Average assets	$	12,564		$	13,267		$	9,413		$	9,276		$	10,044		$	8,387		$	60,842		$	59,150		$	42,818		$	50,752		$	35,169		$	26,742
Average deposits	$	—		$	—		$	—		$	6,772		$	7,554		$	6,950		$	52,907		$	52,659		$	38,034		$	45,936		$	30,515		$	22,361
Market value of assets under management at period-end (in billions)	$	1,045		$	862		$	1,044		$	70		$	66		$	77		$	—		$	—		$	—		$	—		$	—		$	—
Market value of assets under custody and administration at period-end (in billions)	$	6		$	3		$	4		$	80		$	70		$	85		$	22,171		$	20,086		$	22,988		$	—		$	—		$	—
Market value of securities on loan at period-end (in billions)	$	—		$	—		$	—		$	—		$	—		$	—		$	247		$	326		$	633		$	—		$	—		$	—
Pre-tax operating margin - GAAP		16	%		8	%		29	%		24	%		23	%		27	%		31	%		31	%		31	%		45	%		45	%		46	%
Pre-tax operating margin (ex. intangible amortization) - Non-GAAP		25	%		17	%		34	%		30	%		29	%		30	%		32	%		32	%		31	%		49	%		48	%		49	%
Pre-tax operating margin - Non-GAAP (a)		30	%		30	%		34	%		31	%		30	%		30	%		42	%		42	%		31	%		48	%		48	%		49	%

(a) Excludes M&I expenses, the SILO/LILO/tax settlements, support agreement charges, restructuring charges, investment write-downs and intangible amortization expense.

Note: See pages 9-15 for details of revenue/expense items impacting respective segment results.

Page 16 of 19

THE BANK OF NEW YORK MELLON CORPORATION

BUSINESS SEGMENTS

	Clearing Services									Treasury Services									Other									Consolidated Results
(dollar amounts in millions unless otherwise noted)	2009			2008			2007			2009			2008			2007			2009			2008			2007			2009			2008			2007
Revenue:
Securities servicing fees
Asset servicing		—			—			—			24			6			13			(1	)		(23	)		(2	)		2,573			3,370			2,889
Issuer services		—			—			—			—			—			—			—			—			—			1,463			1,685			1,660
Clearing services		948			1,040			955			—			—			—			2			11			205			962			1,065			1,172
Total securities servicing fees		948			1,040			955			24			6			13			1			(12	)		203			4,998			6,120			5,721
Asset and wealth management		29			41			46			—			—			—			13			21			19			2,546			3,135			3,398
Performance fees		—			—			—			—			—			—			—			—			—			93			83			171
Foreign exchange & other trading		134			108			51			7			232			167			(10	)		(56	)		25			1,036			1,462			901
Treasury services		—			—			—			503			500			456			1			2			9			519			514			479
Distribution and service fees		—			—			—			45			41			14			(8	)		(5	)		—			397			421			375
Financing-related fees		1			2			2			196			160			176			(2	)		(4	)		1			215			186			235
Investment Income		—			—			—			33			50			12			162			239			215			226			207			217
Other		78			101			76			29			(30	)		54			1			111			83			111			214			363
Total fee revenue		1,190			1,292			1,130			837			959			892			158			296			555			10,141			12,342			11,860
Securities gains (losses)		—			—			—			(2	)		(3	)		—			(5,292	)		(1,536	)		(189	)		(5,369	)		(1,628	)		(197	)
Total fee and other revenue		1,190			1,292			1,130			835			956			892			(5,134	)		(1,240	)		366			4,772			10,714			11,663
Net interest revenue (expense)		340			321			303			613			730			576			74			(263	)		20			2,915			2,859			2,446
Total revenue		1,530			1,613			1,433			1,448			1,686			1,468			(5,060	)		(1,503	)		386			7,687			13,573			14,109
Provision for credit losses		—			—			—			—			—			—			331			104			(10	)		332			104			(10	)
Noninterest expenses (ex. M&I expenses and intangible amortization)		994			1,104			1,023			747			804			798			744			593			756			8,904			10,567			9,495
Income before taxes and extraordinary (loss) (ex. M&I expenses and intangible amortization)		536			509			410			701			882			670			(6,135	)		(2,200	)		(360	)		(1,549	)		2,902			4,624
Amortization of intangible assets		27			26			24			25			27			14			1			6			13			426			473			339
Merger & integration expense		—			—			—			—			—			—			233			483			528			233			483			528
Income before taxes, noncontrolling interest and extraordinary (loss)		509			483			386			676			855			656			(6,369	)		(2,689	)		(901	)		(2,208	)		1,946			3,757
Average loans	$	6,190		$	7,003		$	6,843		$	12,434		$	15,744		$	13,815		$	7,442		$	10,126		$	10,662		$	36,424		$	46,606		$	43,219
Average assets	$	18,455		$	18,358		$	14,967		$	25,971		$	25,603		$	20,736		$	32,079		$	45,925		$	44,451		$	209,939		$	207,516		$	167,514
Average deposits	$	—		$	—		$	—		$	21,816		$	21,470		$	17,144		$	7,221		$	13,441		$	14,876		$	134,652		$	125,639		$	99,365
Market value of assets under management at period-end (in billions)	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	1,115		$	928		$	1,121
Market value of assets under custody and administration at period-end (in billions)	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	22,257		$	20,159		$	23,077
Market value of securities on loan at period-end (in billions)	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	247		$	326		$	633
Pre-tax operating margin - GAAP		33	%		30	%		27	%		47	%		51	%		45	%		n/m			179	%		n/m			n/m			14	%		27	%
Pre-tax operating margin (ex. intangible amortization) - Non-GAAP		35	%		32	%		29	%		48	%		52	%		46	%		n/m			179	%		n/m			n/m			18	%		29	%
Pre-tax operating margin - Non-GAAP (a)		32	%		32	%		29	%		52	%		52	%		46	%		n/m			n/m			n/m			31	%		39	%		35	%
MEMO:
Securities lending revenue																													259			789			441

(a) Excludes M&I expenses, the SILO/LILO/tax settlements, support agreement charges, restructuring charges, investment write-downs and intangible amortization expense.

Note: See pages 9-15 for details of revenue/expense items impacting respective segment results.

n/m - not meaningful

Page 17 of 19

THE BANK OF NEW YORK MELLON CORPORATION

CONTINUING OPERATIONS - 10 Quarter Trend

NONPERFORMING ASSETS

	2008												2009												2010
(dollar amounts in millions)	1st Qtr			2nd Qtr			3rd Qtr			4th Qtr			1st Qtr			2nd Qtr			3rd Qtr			4th Qtr			1st Qtr			2nd Qtr
Loans:
Commercial real estate	$	49		$	106		$	118		$	130		$	197		$	63		$	63		$	61		$	50		$	49
Financial Institutions	$	—			—			—			41			30			39			180			172			102			20
Other residential mortgages		33			55			75			97			143			163			183			190			204			229
Commercial		50			52			65			14			34			43			71			65			40			40
Wealth Management		—			—			—			2			6			63			58			58			58			62
Foreign		78			60			1			—			2			1			—			—			—			—
Lease finance assets		—			—			—			—			—			—			—			—			—			—
Total nonperforming loans		210			273			259			284			412			372			555			546			454			400
Other assets owned		5			6			8			8			9			6			5			4			5			6
Total acquired property		—			—			—			—			—			—			—			—			—			—
Total nonperforming assets (a)	$	215		$	279		$	267		$	292		$	421		$	378		$	560		$	550		$	459		$	406
Nonperforming assets ratio		0.4	%		0.6	%		0.5	%		0.7	%		1.0	%		1.0	%		1.5	%		1.5	%		1.4	%		1.1	%
Allowance for loan losses/nonperforming loans		149.5			129.3			140.9			146.1			114.1			116.7			82.2			92.1			114.5			135.5
Allowance for loan losses/nonperforming assets		146.0			126.5			136.7			142.1			111.6			114.8			81.4			91.5			113.3			133.4
Total allowance for credit losses/nonperforming loans		231.9			178.0			190.7			186.3			135.7			141.4			107.4			115.0			140.5			161.3
Total allowance for credit losses/nonperforming assets		226.5			174.2			185.0			181.2			132.8			139.2			106.4			114.2			139.0			158.9

(a) Nonperforming assets at June 30, 2009, September 30, 2009 and December 31, 2009 excludes discontinued operations. Nonperforming assets for all periods prior to June 30, 2009 include discontinued operations.

Page 18 of 19

THE BANK OF NEW YORK MELLON CORPORATION

CONTINUING OPERATIONS - 10 Quarter Trend

ALLOWANCE FOR CREDIT LOSSES, PROVISION AND NET CHARGE-OFFS

	2008												2009												2010
(dollar amounts in millions)	1st Qtr			2nd Qtr			3rd Qtr			4th Qtr			1st Qtr			2nd Qtr			3rd Qtr			4th Qtr			1st Qtr			2nd Qtr
Allowance for credit losses:
Allowance for loan losses	$	327		$	314		$	353		$	365		$	415		$	470		$	434		$	456		$	503		$	520
Allowance for lending-related commitments		167			173			133			129			114			89			92			140			125			118
Allowance at beginning of period		494			487			486			494			529			559			526			596			628			638
Net (charge-offs)/recoveries
Charge-offs		(14	)		(14	)		(27	)		(27	)		(51	)		(54	)		(77	)		(33	)		(37	)		(14	)
Recoveries		1			1			5			2			1			—			—			—			12			1
Total Net (charge-offs)/recoveries		(13	)		(13	)		(22	)		(25	)		(50	)		(54	)		(77	)		(33	)		(25	)		(13	)
Provision for credit losses (a)		16			25			30			60			59			61			147			65			35			20
Impact of Merger		—			—			—			—			—			—			—			—			—			—
Transfer to Discontinued Operations		—			—			—			—			21			(40	)		—			—			—			—
Sale of Mellon 1st Business Bank		—			(13	)		—			—			—			—			—			—			—			—
SFAS 159 Adoption		(10	)		—			—			—			—			—			—			—			—			—
Allowance at end of period		487			486			494			529			559			526			596			628			638			645
Allowance for loan losses	$	314		$	353		$	365		$	415		$	470		$	434		$	456		$	503		$	520		$	542
Allowance for lending related-commitments		173			133			129			114			89			92			140			125			118			103
Allowance at end of period (a)		487			486			494			529			559			526			596			628			638			645
Allowance for loan losses as a percentage of total loans (b)		0.60	%		0.70	%		0.62	%		0.96	%		1.13	%		1.14	%		1.26	%		1.37	%		1.54	%		1.46	%

(a) The allowance and provision for credit losses for the periods from the first quarter 2007 through the first quarter 2009 exclude discontinued operations.

(b) Excluding purchase accounting adjustments.

Page 19 of 19