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) – April 18, 2012

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		10286
(Address of principal executive offices)		(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 April 18, 2012, the Registrant conducted a conference call and webcast with respect to results of operations for first quarter 2012 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 April 18, 2012, 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.

Exhibits 99.1 and 99.2 to this report contain 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 Corporation Quarterly Earnings Review for first quarter 2012 dated April 18, 2012.
99.2	The Bank of New York Mellon Corporation 1Q 2012 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: April 23, 2012	By:	/s/ Arlie R. Nogay
	Name:	Arlie R. Nogay
	Title:	Vice President & Assistant Secretary

EXHIBIT INDEX

Number	Description	Method of Filing
99.1	The Bank of New York Mellon Corporation Quarterly Earnings Review for first quarter 2012 dated April 18, 2012.	Furnished herewith
99.2	The Bank of New York Mellon Corporation 1Q 2012 Financial Trends.	Furnished herewith

EX-99.1

Exhibit 99.1

Quarterly Earnings Review

April 18, 2012

Table of Contents

First Quarter 2012 Financial Highlights	2
Financial Summary/Key Metrics	3
Business Metrics	4
Fee and Other Revenue	6
Net Interest Revenue	8
Noninterest Expense	9
Capital	10
Investment Securities Portfolio	11
Nonperforming Assets	12
Allowance for Credit Losses, Provision and Net Charge-offs	12
Review of Businesses	12
•      Investment Management	13
•      Investment Services	15
•      Other	17
Supplemental Information – Explanation of Non-GAAP Financial Measures	18
Cautionary Statement	23

BNY Mellon 1Q12 Quarterly Earnings Review

FIRST QUARTER 2012 FINANCIAL HIGHLIGHTS

	Net income						EPS (a) (b)
	(in millions) (a)						1Q11		4Q11			1Q12		1Q12 vs.
	1Q11		4Q11		1Q12									1Q11			4Q11
Earnings:
Net income applicable to common shareholders – GAAP	$	625	$	505	$	619	$	0.50	$	0.42		$	0.52		4	%		24	%
Non-GAAP adjustments (a)		6		67		N/A		—		0.06			N/A
Subtotal net income – Non-GAAP		631		572		619		0.50		0.47	(c)		0.52		4	%		11	%
Amortization of intangible assets		68		66		61		0.05		0.05			0.05
Net income – Non-GAAP	$	699	$	638	$	680	$	0.55	$	0.52		$	0.57		4	%		10	%

KEY POINTS (comparisons are unannualized 1Q12 vs. 4Q11 unless otherwise stated)

• Earnings

- Total revenue of $3.6 billion, up 3% (up 6% excluding fee and other revenue related to the Shareowner Services business sold on Dec. 31, 2011 and net income (loss) attributable to noncontrolling interests related to consolidated investment management funds).

- Fee and other revenue up 3% (up 8% excluding fee and other revenue related to Shareowner Services).

- Investment services fees increased 3% (up 6% excluding investment services fees related to Shareowner Services) primarily due to improved market values, higher volumes and net new business.

- Investment management and performance fees increased 2% driven by higher market values, lower money market fee waivers and net new business, partially offset by seasonally lower performance fees. Excluding performance fees, investment management fees increased 7%.

- Foreign exchange and other trading revenue decreased 16% as volatility decreased significantly.

- Net interest revenue decreased 2% driven primarily by lower average client deposits and lower accretion, partially offset by increased investments in high quality investment securities.

- Provision for credit losses of $5 million.

- Noninterest expense decreased 3% (up 4% excluding amortization of intangible assets, restructuring charges, M&I expenses and direct expense related to Shareowner Services). The increase was primarily driven by higher litigation and legal expenses, higher incentive expense due to the vesting of long-term stock awards for retirement eligible employees and higher pension expense. Additionally, we are beginning to realize the results of our operational excellence initiatives as business development, professional and other purchased services, compensation, net occupancy and software and equipment expenses decreased.

- Effective tax rate of 28.7%.

• Record levels of AUC/A and AUM

- AUC/A of $26.6 trillion, increased 3%.

- AUM of $1.3 trillion, increased 4%.

• Capital

- Return on tangible common equity – Non-GAAP 21%. (a)

- Repurchased 17.3 million shares for $371 million in the first quarter of 2012.

- Estimated Basel III Tier 1 common equity ratio – Non-GAAP 7.6%, up 50 basis points sequentially. (a)

(a) See “Supplemental information” beginning on page 18 for GAAP to Non-GAAP reconciliations.

(b) Diluted earnings per share is determined based on the net income reported on the income statement less earnings allocated to participating securities of $6 million in the first quarter of 2011, $6 million in the fourth quarter of 2011 and $8 million in the first quarter of 2012, and the change in the excess of redeemable value over the fair value of noncontrolling interests of $6 million in the first quarter of 2011, $(1) million in the fourth quarter of 2011 and $(6) million in the first quarter of 2012.

(c) Does not foot due to rounding.

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BNY Mellon 1Q12 Quarterly Earnings Review

FINANCIAL SUMMARY

(dollars in millions, common shares in thousands)																1Q12 vs.
	1Q11			2Q11			3Q11			4Q11			1Q12			1Q11			4Q11
Revenue:
Fee and other revenue	$	2,838		$	3,056		$	2,887		$	2,765		$	2,838			—	%		3	%
Income (loss) from consolidated investment management funds		110			63			32			(5	)		43
Net interest revenue		698			731			775			780			765			10			(2	)
Total revenue – GAAP		3,646			3,850			3,694			3,540			3,646			—			3
Less: Net income (loss) attributable to noncontrolling interests related to consolidated investment management funds		44			21			13			(28	)		11
Fee and other revenue related to Shareowner Services (a)		62			54			44			142			—
Total revenue – Non-GAAP		3,540			3,775			3,637			3,426			3,635			3			6
Provision for credit losses		—			—			(22	)		23			5
Expense:
Noninterest expense – GAAP		2,697			2,816			2,771			2,828			2,756			2			(3	)
Less: Amortization of intangible assets		108			108			106			106			96
Restructuring charges		(6	)		(7	)		(5	)		107			(9	)
M&I expenses		17			25			17			32			18
Direct expense related to Shareowner Services (a)		46			47			37			46			—
Total noninterest expense – Non-GAAP		2,532			2,643			2,616			2,537			2,651			5			4
Income:
Income before income taxes		949			1,034			945			689			885
Provision for income taxes		279			277			281			211			254
Net income	$	670		$	757		$	664		$	478		$	631			(6	)%		32	%
Net (income) loss attributable to noncontrolling interests (b)		(45	)		(22	)		(13	)		27			(12	)
Net income applicable to common shareholders of The Bank of New York Mellon Corporation	$	625		$	735		$	651		$	505		$	619
Key Metrics:
Pre-tax operating margin (c)		26	%		27	%		26	%		19	%		24	%
Non-GAAP adjusted (c)		28	%		30	%		29	%		27	%		27	%
Return on common equity (annualized) (b)		7.7	%		8.8	%		7.6	%		5.9	%		7.4	%
Non-GAAP (c)		8.6	%		9.7	%		8.5	%		7.7	%		8.2	%
Return on tangible common equity (annualized)
Non-GAAP (c)		24.3	%		26.3	%		22.1	%		17.7	%		21.0	%
Non-GAAP adjusted (c)		24.4	%		26.6	%		22.3	%		20.4	%		21.2	%
Fee revenue as a percentage of total revenue excluding net securities gains (losses)		78	%		79	%		78	%		78	%		78	%
Percentage of non-U.S. total revenue (d)		37	%		37	%		39	%		34	%		37	%
Period end:
Full-time employees		48,400			48,900			49,600			48,700			47,800
Market capitalization	$	37,090		$	31,582		$	22,543		$	24,085		$	28,780
Common shares outstanding		1,241,724			1,232,691			1,212,632			1,209,675			1,192,716

(a) Results in the fourth quarter of 2011 include a $98 million pre-tax gain on the sale.

(b) Includes net income of $44 million in the first quarter of 2011, net income of $21 million in the second quarter of 2011, net income of $13 million in the third quarter of 2011, a net loss of $28 million in the fourth quarter of 2011 and net income of $11 million in the first quarter of 2012, respectively, attributable to noncontrolling interests related to consolidated investment management funds.

(c) See “Supplemental information” beginning on page 18 for GAAP to Non-GAAP reconciliations.

(d) Includes fee revenue, net interest revenue and income of consolidated investment management funds, net of noncontrolling interests.

Certain immaterial reclassifications have been made to prior periods to place them on a basis comparable with the current period presentation. Unless otherwise noted, the results for 2011 include Shareowner Services.

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BNY Mellon 1Q12 Quarterly Earnings Review

BUSINESS METRICS

Investment Management metrics																1Q12 vs.
	1Q11			2Q11			3Q11			4Q11			1Q12			1Q11			4Q11
Changes in market value of assets under management (in billions) (a):
Beginning balance	$	1,172		$	1,229		$	1,274		$	1,198		$	1,260
Net inflows (outflows):
Long-term		31			32			4			16			7
Money market		(5	)		(1	)		(15	)		7			(9	)
Total net inflows (outflows)		26			31			(11	)		23			(2	)
Net market/currency impact		31			14			(65	)		39			50
Ending balance	$	1,229		$	1,274		$	1,198		$	1,260		$	1,308	(b)		6	%		4	%
Composition of assets under management at period end (a):
Equity		34	%		34	%		30	%		31	%		33	%
Fixed income		30			31			35			35			35
Money market		27			26			27			26			24
Alternative investments and overlay		9			9			8			8			8
Total		100	%		100	%		100	%		100	%		100	%
Wealth management:
Average loans (in millions)	$	6,825		$	6,884		$	6,958		$	7,209		$	7,422			9	%		3	%
Average deposits (in millions)	$	9,272		$	8,996		$	10,392		$	11,761		$	11,491			24	%		(2	)%

(a) Excludes securities lending cash management assets.

(b) Preliminary.

Investment Services metrics											1Q12 vs.
	1Q11		2Q11		3Q11		4Q11		1Q12		1Q11			4Q11
Market value of assets under custody and administration at period-end (in trillions)	$	25.5	$	26.3	$	25.9	$	25.8	$	26.6		4	%		3	%
Market value of securities on loan at period-end (in billions) (a)	$	278	$	273	$	250	$	269	$	265		(5	)%		(1	)%
Average loans (in millions)	$	20,554	$	22,891	$	22,879	$	26,804	$	25,902		26	%		(3	)%
Average deposits (in millions)	$	139,342	$	153,863	$	181,848	$	188,539	$	176,811		27	%		(6	)%
Asset servicing:
New business wins (AUC) (in billions)	$	496	$	196	$	96	$	431	$	453
Corporate Trust:
Total debt serviced (in trillions)	$	11.9	$	11.8	$	11.9	$	11.8	$	11.9		—	%		1	%
Number of deals administered		133,416		133,262		134,843		133,850		133,319		—	%		—	%
Depositary Receipts:
Number of sponsored programs		1,367		1,386		1,384		1,389		1,391		2	%		—	%
Clearing services:
DARTS volume (in thousands)		207.2		196.5		207.7		178.7		196.6		(5	)%		10	%
Average active clearing accounts U.S. (in thousands)		5,289		5,486		5,503		5,429		5,413		2	%		—	%
Average long-term mutual fund assets (U.S. platform) (in millions)	$	287,682	$	306,193	$	287,573	$	287,562	$	306,212		6	%		6	%
Average margin loans (in millions)	$	6,978	$	7,506	$	7,351	$	7,548	$	7,900		13	%		5	%
Broker-Dealer:
Average collateral management balances (in billions)	$	1,806	$	1,845	$	1,872	$	1,866	$	1,929		7	%		3	%
Treasury services:
Global payments transaction volume (in thousands)		10,761		10,944		11,088		10,856		10,838		1	%		—	%

(a) Represents the securities on loan managed by the Investment Services business.

Page - 4

BNY Mellon 1Q12 Quarterly Earnings Review

Market indices											1Q12 vs.
	1Q11		2Q11		3Q11		4Q11		1Q12		1Q11			4Q11
S&P 500 Index (a)		1326		1321		1131		1258		1408		6	%		12	%
S&P 500 Index – daily average		1302		1318		1227		1224		1347		3			10
FTSE 100 Index (a)		5909		5946		5128		5572		5768		(2	)		4
FTSE 100 Index – daily average		5945		5906		5470		5424		5818		(2	)		7
MSCI World Index (a)		1335		1331		1104		1183		1312		(2	)		11
MSCI World Index – daily average		1320		1332		1217		1169		1268		(4	)		8
Barclays Capital Aggregate BondSM Index (a)		328		341		346		347		351		7			1
NYSE and NASDAQ share volume (in billions)		225		213		250		206		186		(17	)		(10	)
JPMorgan G7 Volatility Index – daily average (b)		11.07		11.21		12.60		12.95		10.39		(6	)		(20	)

(a) Period end.

(b) The JPMorgan G7 Volatility Index is based on the implied volatility in 3-month currency options.

Page - 5

BNY Mellon 1Q12 Quarterly Earnings Review

FEE AND OTHER REVENUE

Fee and other revenue (a)																1Q12 vs.
(dollars in millions)	1Q11			2Q11			3Q11			4Q11			1Q12			1Q11			4Q11
Investment services fees:
Asset servicing (b)	$	917		$	973		$	922		$	885		$	943			3	%		7	%
Issuer services		351			365			442			287			251			N/M			N/M
Memo: Issuer services excluding Shareowner Services		292			314			400			245			251			(14	)		2
Clearing services		292			292			297			278			303			4			9
Treasury services		134			134			133			134			136			1			1
Total investment services fees		1,694			1,764			1,794			1,584			1,633			(4	)		3
Investment management and performance fees		764			779			729			730			745			(2	)		2
Foreign exchange and other trading revenue		198			222			200			228			191			(4	)		(16	)
Distribution and servicing		53			49			43			42			46			(13	)		10
Financing-related fees		43			49			40			38			44			2			16
Investment and other income		81			145			83			146			139			72			(5	)
Total fee revenue		2,833			3,008			2,889			2,768			2,798			(1	)		1
Net securities gains (losses)		5			48			(2	)		(3	)		40			N/M			N/M
Total fee and other revenue – GAAP		2,838			3,056			2,887			2,765			2,838			—			3
Less: Fee and other revenue related to
Shareowner Services (c)		62			54			44			142			—
Total fee and other revenue – Non-GAAP	$	2,776		$	3,002		$	2,843		$	2,623		$	2,838			2	%		8	%
Fee revenue as a percentage of total revenue excluding net securities gains (losses)		78	%		79	%		78	%		78	%		78	%

(a) See “Supplemental information” beginning on page 18 for fee and other revenue excluding Shareowner Services – Non-GAAP.

(b) Asset servicing fees include securities lending revenue of $37 million in the first quarter of 2011, $62 million in the second quarter of 2011, $41 million in the third quarter of 2011, $43 million in the fourth quarter of 2011 and $49 million in the first quarter of 2012.

(c) The Shareowner Services business was sold on Dec. 31, 2011. Results in the fourth quarter of 2011 include a $98 million pre-tax gain on the sale.

N/M-Not meaningful.

KEY POINTS

• Asset servicing fees were $943 million, an increase of 3% year-over-year and 7% (unannualized) sequentially. Both increases reflect net new business and higher equity markets, as well as higher securities lending revenue driven by wider spreads.

• Issuer services fees excluding Shareowner Services were $251 million, a decrease of 14% year-over-year and an increase of 2% (unannualized) sequentially. The year-over-year decrease primarily resulted from lower money market fees, lower trust fees related to the weakness in structured products and higher fee waivers in Corporate Trust and lower Depositary Receipts revenue. Sequentially, higher Depositary Receipts revenue was partially offset by lower Corporate Trust fees.

• Clearing services fees were $303 million, an increase of 4% year-over-year and 9% (unannualized) sequentially. The year-over-year increase was driven by net new business and growth in mutual fund assets and retirement accounts, partially offset by lower trading volumes and higher money market fee waivers. The sequential increase primarily reflects higher trading volumes and growth in mutual fund assets.

• Investment management and performance fees were $745 million, a decrease of 2% year-over-year and an increase of 2% (unannualized) sequentially. The year-over-year decrease was driven by higher money market fee waivers partially offset by net new business. Sequentially, higher market values, lower money market fee waivers and net new business were partially offset by seasonally lower performance fees. Excluding performance fees, investment management fees increased 7% (unannualized) sequentially.

Page - 6

BNY Mellon 1Q12 Quarterly Earnings Review

•   Foreign exchange and other trading revenue

(dollars in millions)	1Q11			2Q11			3Q11			4Q11			1Q12
Foreign exchange	$	173		$	184		$	221		$	183		$	136
Fixed income		17			28			(21	)		41			47
Credit derivatives (Used as economic hedges of loans)		(1	)		(1	)		1			(2	)		(2	)
Other		9			11			(1	)		6			10
Total	$	198		$	222		$	200		$	228		$	191

Foreign exchange and other trading revenue totaled $191 million compared with $198 million in the first quarter of 2011 and $228 million in the fourth quarter of 2011. In the first quarter of 2012, foreign exchange revenue totaled $136 million, a decrease of 21% year-over-year and 26% (unannualized) sequentially. The year-over-year decrease reflects lower volumes and volatility, while sequentially, volumes were unchanged and volatility decreased 20%. Other trading revenue was $55 million in the first quarter of 2012 compared with $25 million in the first quarter of 2011 and $45 million in the fourth quarter of 2011. Both increases were primarily driven by higher fixed income trading.

• Investment and other income totaled $139 million compared with $81 million in the first quarter of 2011 and $146 million in the fourth quarter of 2011. The year-over-year increase primarily resulted from higher leasing and seed capital gains. Sequentially, the decline primarily resulted from the $98 million pre-tax gain on the sale of the Shareowner Services business recorded in the fourth quarter of 2011, partially offset by higher leasing and seed capital gains in the first quarter of 2012.

Page - 7

BNY Mellon 1Q12 Quarterly Earnings Review

NET INTEREST REVENUE

Net interest revenue																1Q12 vs.
(dollars in millions)	1Q11			2Q11			3Q11			4Q11			1Q12			1Q11			4Q11
Net interest revenue (non-FTE)	$	698		$	731		$	775		$	780		$	765			10	%		(2	)%
Net interest revenue (FTE)		702			737			782			790			776			11			(2	)
Net interest margin (FTE)		1.49	%		1.41	%		1.30	%		1.27	%		1.32	%		(17	) bps		5	bps
Selected average balances:
Cash/interbank investments	$	82,518		$	97,936		$	126,392		$	121,017		$	103,795			26	%		(14	)%
Trading account securities		3,698			2,877			2,509			2,490			2,519			(32	)		1
Securities		65,397			68,782			70,863			79,981			86,808			33			9
Loans		38,566			40,328			40,489			44,236			43,209			12			(2	)
Interest-earning assets		190,179			209,923			240,253			247,724			236,331			24			(5	)
Interest-bearing deposits		116,515			125,958			125,795			130,343			125,438			8			(4	)
Noninterest-bearing deposits		38,616			43,038			73,389			76,309			66,613			73			(13	)
Selected average yields/rates:
Cash/interbank investments		0.73	%		0.73	%		0.66	%		0.61	%		0.64	%
Trading account securities		2.44			2.44			2.62			2.94			2.78
Securities		2.96			2.89			2.87			2.60			2.44
Loans		2.08			2.02			1.96			1.87			1.95
Interest-earning assets		1.80			1.70			1.55			1.50			1.56
Interest-bearing deposits		0.17			0.22			0.21			0.18			0.14
Average cash/interbank investments as a percentage of average interest-earning assets		43	%		47	%		53	%		49	%		44	%
Average noninterest-bearing deposits as a percentage of average interest-earning assets		20	%		21	%		31	%		31	%		28	%

bps – basis points.

FTE – fully taxable equivalent.

KEY POINTS

• Net interest revenue totaled $765 million in 1Q12, an increase of $67 million compared with 1Q11 and a decrease of $15 million sequentially. The year-over-year increase in net interest revenue was primarily driven by higher average client deposits, increased investment in high quality investment securities and higher loan levels, partially offset by narrower spreads and lower accretion. The sequential decrease was primarily driven by lower average client deposits and lower accretion, partially offset by increased investments in high quality investment securities.

- Average noninterest-bearing client deposits increased $28 billion, or 73%, compared with 1Q11 and decreased $10 billion, or 13%, compared with 4Q11.

• The net interest margin (FTE) was 1.32% in 1Q12, compared with 1.27% in 4Q11 and 1.49% in 1Q11. The year-over-year decrease in the net interest margin (FTE) was primarily driven by increased client deposits nearly half of which were invested in liquid, lower-yielding assets. The sequential increase in the net interest margin (FTE) primarily reflects increased investments in high quality investment securities and a decrease in lower-yielding interest-bearing deposits with banks.

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BNY Mellon 1Q12 Quarterly Earnings Review

NONINTEREST EXPENSE

Noninterest expense (a)																1Q12 vs.
(dollars in millions)	1Q11			2Q11			3Q11			4Q11			1Q12			1Q11			4Q11
Staff:
Compensation	$	876		$	903		$	903		$	885		$	861			(2	)%		(3	)%
Incentives		325			328			328			281			352			8			25
Employee benefits		223			232			226			216			240			8			11
Total staff		1,424			1,463			1,457			1,382			1,453			2			5
Professional, legal and other purchased services		283			301			311			322			299			6			(7	)
Software and equipment		206			203			193			213			205			—			(4	)
Net occupancy		153			161			151			159			147			(4	)		(8	)
Distribution and servicing		111			109			100			96			101			(9	)		5
Sub-custodian		68			88			80			62			70			3			13
Business development		56			73			57			75			56			—			(25	)
Other		277			292			304			274			320			16			17
Amortization of intangible assets		108			108			106			106			96			(11	)		(9	)
Restructuring charges		(6	)		(7	)		(5	)		107			(9	)		N/M			N/M
M&I expenses		17			25			17			32			18			6			(44	)
Total noninterest expense – GAAP	$	2,697		$	2,816		$	2,771		$	2,828		$	2,756			2	%		(3	)%
Total staff expense as a percentage of total revenue		39	%		38	%		39	%		39	%		40	%
Memo:
Total noninterest expense excluding amortization of intangible assets, restructuring charges, M&I expenses and direct expense related to Shareowner Services – Non-GAAP	$	2,532		$	2,643		$	2,616		$	2,537		$	2,651			5	%		4	%

(a) See “Supplemental information” beginning on page 18 for noninterest expense excluding the direct expense related to Shareowner Services – Non-GAAP.

N/M – Not meaningful.

KEY POINTS

• Total noninterest expense (excluding amortization of intangible assets, restructuring charges, merger and integration (“M&I”) expenses and direct expense related to Shareowner Services) (Non-GAAP) increased 5% compared with the prior year period and 4% (unannualized) sequentially.

- The year-over-year increase primarily reflects higher litigation and legal expenses, higher incentive expense due to the vesting of long-term stock awards for retirement eligible employees and higher pension expense.

- The sequential increase was driven by higher litigation expense, higher incentive expense due to the vesting of long-term stock awards for retirement eligible employees and higher pension expenses. Additionally, we are beginning to realize the results of our operational excellence initiatives as business development, professional and other purchased services, compensation, net occupancy and software and equipment expenses decreased.

Page - 9

BNY Mellon 1Q12 Quarterly Earnings Review

CAPITAL

Basel I Tier 1 common equity generation
(dollars in millions)	1Q11			2Q11		3Q11			4Q11			1Q12
Net income applicable to common shareholders of The Bank of New York Mellon Corporation – GAAP		$    625		$	735	$	651		$	505			$    619
Add: Amortization of intangible assets, net of tax		68			68		67			66			61
Gross Basel I Tier 1 common equity generated		693			803		718			571			680
Less capital deployed:
Dividends		111			163		160			159			158
Common stock repurchases		32			272		462			69			371
Goodwill and intangible assets related to acquisitions/dispositions		12			—		16			(241	)		—
Total capital deployed		155			435		638			(13	)		529
Add: Other		257			139		(43	)		(114	)		146
Net Basel I Tier 1 common equity generated		$    795		$	507	$	37		$	470			$    297
Capital ratios	March 31, 2011					Dec. 31, 2011						March 31, 2012 (a)
Estimated Basel III Tier 1 common equity ratio – Non-GAAP (b)(c)		6.1	%				7.1	%					7.6	%
Basel I Tier 1 common equity to risk-weighted assets ratio – Non-GAAP (c)		12.4					13.4						13.9
Basel I Tier 1 capital ratio		14.0					15.0						15.6
Basel I total (Tier 1 plus Tier 2) capital ratio		16.8					17.0						17.5
Basel I leverage capital ratio		6.1					5.2						5.6
Common shareholders’ equity to total assets ratio (c)		12.5					10.3						11.3
Tangible common shareholders’ equity to tangible assets of operations ratio – Non-GAAP (c)		5.9					6.4						6.5

(a) Preliminary.

(b) Our estimated Basel III Tier 1 common equity ratio – Non-GAAP reflects our current interpretation of the Basel III rules. Our estimated Basel III Tier 1 common equity ratio could change in the future as the U.S. regulatory agencies implement Basel III or if our businesses change.

(c) See “Supplemental information” beginning on page 18 for a calculation of these ratios.

We generated $680 million of gross Basel I Tier 1 common equity in the first quarter of 2012.

Our estimated Basel III Tier 1 common equity ratio – Non-GAAP was 7.6% at March 31, 2012 compared with 7.1% at Dec. 31, 2011 and 6.1% at March 31, 2011. The sequential improvement in the ratio was driven by an increase in the value of our investment securities portfolio, earnings retention and lower risk-weighted assets, partially offset by share repurchases.

Page - 10

BNY Mellon 1Q12 Quarterly Earnings Review

INVESTMENT SECURITIES PORTFOLIO

At March 31, 2012, the fair value of our investment securities portfolio totaled $88.2 billion. The unrealized pre-tax net gain on our total securities portfolio was $1.2 billion at March 31, 2012 compared with $793 million at Dec. 31, 2011. During the first quarter of 2012, we received $229 million of paydowns and sold approximately $23 million of sub-investment grade securities. The investment securities previously included in the former Grantor Trust were marked down to approximately 60% of face value in 2009. At March 31, 2012, these securities were trading above adjusted amortized cost with a total unrealized pre-tax gain of $364 million.

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

Investment securities portfolio
	Dec. 31, 2011			1Q12 change in unrealized gain/(loss)			March 31, 2012					Fair value as a % of amortized cost (a)			Unrealized gain/(loss)			Ratings
(dollars in millions)	Fair value						Amortized cost		Fair value									AAA/ AA-			A+/A-			BBB+/ BBB-			BB+ and lower			Not rated
Agency RMBS	$	27,493		$	53		$	33,882	$	34,538			102	%	$	656			100	%		—	%		—	%		—	%		—	%
U.S. Treasury securities		17,999			(119	)		14,920		15,173			101			253			100			—			—			—			—
Sovereign debt/sovereign guaranteed (b)		11,881			53			11,961		12,171			102			210			100			—			—			—			—
Non-agency RMBS (c)		3,179			187			2,868		3,232			68			364			1			1			2			96			—
Non-agency RMBS		1,780			101			2,036		1,787			81			(249	)		20			15			12			53			—
European floating rate notes (d)		3,025			26			3,726		3,405			90			(321	)		69			23			5			3			—
Commercial MBS		3,003			41			3,052		3,161			104			109			82			16			2			—			—
State and political subdivisions		2,806			(7	)		4,055		4,067			101			12			83			14			2			—			1
Foreign covered bonds (e)		2,425			21			3,171		3,207			101			36			99			1			—			—			—
Corporate bonds		1,738			59			1,642		1,696			103			54			14			77			8			1			—
CLO		1,233			14			1,129		1,118			99			(11	)		100			—			—			—			—
FDIC-insured debt		1,112			(12	)		154		154			100			—			100			—			—			—			—
U.S. Government agency debt		958			3			1,079		1,108			103			29			100			—			—			—			—
Credit cards		397			—			324		328			102			4			20			80			—			—			—
Other		2,709			(31	)		3,022		3,058			101			36			44			52			—			1			3
Total investment securities	$	81,738	(f)	$	389		$	87,021	$	88,203	(f)		101	%	$	1,182			88	%		6	%		1	%		5	%		—	%

(a) Amortized cost before impairments.

(b) Primarily comprised of exposure to United Kingdom, France, Germany and Netherlands.

(c) These RMBS were included in the former Grantor Trust and were marked-to-market in 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.

(d) Includes RMBS, commercial MBS and other securities. Primarily comprised of exposure to UK and Netherlands.

(e) Primarily comprised of exposure to Germany and Canada.

(f) Includes net unrealized losses on derivatives hedging securities available-for-sale of $269 million at Dec. 31, 2011 and $20 million at March 31, 2012.

Page - 11

BNY Mellon 1Q12 Quarterly Earnings Review

NONPERFORMING ASSETS

Nonperforming assets (dollars in millions)	March 31, 2011			Dec. 31, 2011			March 31, 2012
Loans:
Other residential mortgages	$	245		$	203		$	188
Commercial real estate		36			40			39
Wealth management		56			32			35
Commercial		32			21			32
Financial institutions		4			23			14
Foreign		7			10			10
Total nonperforming loans		380			329			318
Other assets owned		6			12			13
Total nonperforming assets (a)	$	386		$	341		$	331
Nonperforming assets ratio		0.96	%		0.78	%		0.77	%
Allowance for loan losses/nonperforming loans		122.9			119.8			121.4
Total allowance for credit losses/nonperforming loans		145.8			151.1			155.3

(a) Loans of consolidated investment management funds are not part of BNY Mellon’s loan portfolio. Included in these loans are nonperforming loans of $239 million at March 31, 2011, $101 million at Dec. 31, 2011 and $180 million at March 31, 2012. These loans are recorded at fair value and therefore do not impact the provision for credit losses and allowance for loan losses, and accordingly are excluded from the nonperforming assets table above.

ALLOWANCE FOR CREDIT LOSSES, PROVISION AND NET CHARGE-OFFS

Allowance for credit losses, provision and net charge-offs (dollars in millions)	1Q11			4Q11			1Q12
Allowance for credit losses – beginning of period	$	571		$	498		$	497
Provision for credit losses		—			23			5
Net (charge-offs) recoveries:
Other residential mortgages		(16	)		(14	)		(8	)
Commercial		1			(7	)		—
Foreign		—			(2	)		—
Commercial real estate		(3	)		(1	)		—
Financial institutions		1			—			—
Net (charge-offs) recoveries		(17	)		(24	)		(8	)
Allowance for credit losses – end of period	$	554		$	497		$	494
Allowance for loan losses	$	467		$	394		$	386
Allowance for lending-related commitments		87			103			108

The provision for credit losses was $5 million in the first quarter of 2012 compared with $23 million in the fourth quarter of 2011 and no provision in the first quarter of 2011.

REVIEW OF BUSINESSES

On Dec. 31, 2011, BNY Mellon sold its Shareowner Services business. In the first quarter of 2012, we reclassified the results of the Shareowner Services business from the Investment Services business to the Other segment. The reclassification did not impact the consolidated results. All prior periods have been restated.

Page - 12

BNY Mellon 1Q12 Quarterly Earnings Review

INVESTMENT MANAGEMENT provides investment management services to institutional and retail investors, as well as investment management, wealth and estate planning and private banking solutions to high net worth individuals and families, and foundations and endowments.

																1Q12 vs.
(dollars in millions, unless otherwise noted)	1Q11			2Q11			3Q11			4Q11			1Q12			1Q11			4Q11
Revenue:
Investment management:
Mutual funds	$	283		$	290		$	263		$	237		$	260			(8	)%		10	%
Institutional clients		319			319			311			299			322			1			8
Wealth management		164			163			157			154			157			(4	)		2
Investment management		766			772			731			690			739			(4	)		7
Performance fees		17			18			11			47			16			(6	)		N/M
Distribution and servicing		51			48			41			41			45			(12	)		10
Other (a)		34			24			(26	)		(11	)		52			N/M			N/M
Total fee and other revenue (a)		868			862			757			767			852			(2	)		11
Net interest revenue		52			48			51			55			55			6			—
Total revenue		920			910			808			822			907			(1	)		10
Provision for credit losses		—			1			—			—			—			N/M			N/M
Noninterest expense (ex. amortization of intangible assets)		627			641			622			632			619			(1	)		(2	)
Income before taxes (ex. amortization of intangible assets)		293			268			186			190			288			(2	)		52
Amortization of intangible assets		55			53			53			53			48			(13	)		(9	)
Income before taxes	$	238		$	215		$	133		$	137		$	240			1	%		75	%
Pre-tax operating margin		26	%		24	%		16	%		17	%		26	%
Pre-tax operating margin (ex. amortization of intangible assets and net of distribution and servicing expense) (b)		36	%		33	%		26	%		26	%		36	%
Metrics:
Changes in market value of assets under management (in billions) (c):
Beginning balance	$	1,172		$	1,229		$	1,274		$	1,198		$	1,260
Net inflows (outflows):
Long-term		31			32			4			16			7
Money market		(5	)		(1	)		(15	)		7			(9	)
Total net inflows (outflows)		26			31			(11	)		23			(2	)
Net market/currency impact		31			14			(65	)		39			50
Ending balance	$	1,229		$	1,274		$	1,198		$	1,260		$	1,308	(d)		6	%		4	%
Composition of assets under management at period end (c):
Equity		34	%		34	%		30	%		31	%		33	%
Fixed income		30			31			35			35			35
Money market		27			26			27			26			24
Alternative investments and overlay		9			9			8			8			8
Total		100	%		100	%		100	%		100	%		100	%
Wealth management:
Average loans	$	6,825		$	6,884		$	6,958		$	7,209		$	7,422			9	%		3	%
Average deposits	$	9,272		$	8,996		$	10,392		$	11,761		$	11,491			24	%		(2	)%

(a) Total fee and other revenue includes the impact of the consolidated investment management funds. See “Supplemental information” beginning on page 18. Additionally, other revenue includes asset servicing and treasury services revenue.

(b) Distribution and servicing expense is netted with distribution and servicing revenue for the purpose of this calculation of pre-tax operating margin. Distribution and servicing expense totaled $110 million, $108 million, $99 million, $95 million and $100 million, respectively.

(c) Excludes securities lending cash management assets.

(d) Preliminary.

N/M – Not meaningful.

Page - 13

BNY Mellon 1Q12 Quarterly Earnings Review

INVESTMENT MANAGEMENT KEY POINTS

• Assets under management were a record $1.3 trillion at March 31, 2012, an increase of 6% year-over-year and 4% sequentially. The year-over-year increase primarily resulted from net new business and higher market values. On a sequential basis, the increase resulted from higher market values.

- Net long-term inflows were $7 billion and short-term outflows were $9 billion in 1Q12. Long-term inflows benefited from fixed income and active equity assets.

• Generated positive operating leverage sequentially, excluding amortization of intangible assets.

• Investment management fees decreased 4% year-over-year and increased 7% (unannualized) sequentially. The year-over-year decrease was driven by higher money market fee waivers, partially offset by net new business. The sequential increase reflects higher market values, lower money market fee waivers and net new business.

• Other revenue was $52 million in 1Q12 compared with revenue of $34 million in 1Q11 and a loss of $11 million in 4Q11. Both increases were primarily driven by higher seed capital gains. Sequentially, the increase also reflects a $30 million write-down of an equity investment recorded in 4Q11.

• Net interest revenue increased 6% year-over-year and was unchanged sequentially. The year-over-year increase primarily resulted from higher average loans and deposits.

- Average loans increased 9% year-over-year and 3% sequentially; average deposits increased 24% year-over-year and decreased 2% sequentially.

• Total noninterest expense (ex. amortization of intangible assets) decreased 1% year-over-year and 2% (unannualized) sequentially. The year-over-year decrease was driven by lower distribution and servicing expense and lower professional, legal and other purchased services. The sequential decrease primarily resulted from lower incentive expense due to seasonally lower performance fees, and lower business development expense, partially offset by higher distribution and servicing expense.

• 45% non-U.S. revenue in 1Q12 vs. 41% in 1Q11.

Page - 14

BNY Mellon 1Q12 Quarterly Earnings Review

INVESTMENT SERVICES provides global custody and related services, broker-dealer services, alternative investment services, corporate trust, depositary receipt and clearing services as well as global payment/working capital solutions to global financial institutions.

																1Q12 vs.
(dollars in millions, unless otherwise noted)	1Q11			2Q11			3Q11			4Q11			1Q12			1Q11			4Q11
Revenue:
Investment services fees:
Asset servicing	$	890		$	943		$	894		$	858		$	915			3	%		7	%
Issuer services		292			314			401			245			251			(14	)		2
Clearing services		292			292			297			278			303			4			9
Treasury services		133			134			132			133			136			2			2
Total investment services fees		1,607			1,683			1,724			1,514			1,605			—			6
Foreign exchange and other trading revenue		209			203			236			196			176			(16	)		(10	)
Other (a)		73			81			68			71			73			—			3
Total fee and other revenue (a)		1,889			1,967			2,028			1,781			1,854			(2	)		4
Net interest revenue		621			650			661			634			644			4			2
Total revenue		2,510			2,617			2,689			2,415			2,498			—			3
Provision for credit losses		—			—			—			—			16			N/ M			N/ M
Noninterest expense (ex. amortization of intangible assets)		1,702			1,775			1,851			1,706			1,781			5			4
Income before taxes (ex. amortization of intangible assets)		808			842			838			709			701			(13	)		(1	)
Amortization of intangible assets		50			50			49			50			48			(4	)		(4	)
Income before taxes	$	758		$	792		$	789		$	659		$	653			(14	)%		(1	)%
Pre-tax operating margin		30	%		30	%		29	%		27	%		26	%
Pre-tax operating margin (ex. amortization of intangible assets)		32	%		32	%		31	%		29	%		28	%
Investment services fees as a percentage of noninterest expense (b)		96	%		96	%		98	%		90	%		94	%
Metrics:
Market value of assets under custody and administration at period-end (in trillions)	$	25.5		$	26.3		$	25.9		$	25.8		$	26.6			4	%		3	%
Market value of securities on loan at period-end (in billions) (c)	$	278		$	273		$	250		$	269		$	265			(5	)%		(1	)%
Securities lending revenue	$	27		$	52		$	32		$	35		$	39			44	%		11	%
Average loans	$	20,554		$	22,891		$	22,879		$	26,804		$	25,902			26	%		(3	)%
Average deposits	$	139,342		$	153,863		$	181,848		$	188,539		$	176,811			27	%		(6	)%
Asset servicing:
New business wins (AUC) (in billions)	$	496		$	196		$	96		$	431		$	453
Corporate Trust:
Total debt serviced (in trillions)	$	11.9		$	11.8		$	11.9		$	11.8		$	11.9			—	%		1	%
Number of deals administered		133,416			133,262			134,843			133,850			133,319			—	%		—	%
Depositary Receipts:
Number of sponsored programs		1,367			1,386			1,384			1,389			1,391			2	%		—	%
Clearing services:
DARTS volume (in thousands)		207.2			196.5			207.7			178.7			196.6			(5	)%		10	%
Average active clearing accounts U.S. (in thousands)		5,289			5,486			5,503			5,429			5,413			2	%		—	%
Average long-term mutual fund assets (U.S. platform)	$	287,682		$	306,193		$	287,573		$	287,562		$	306,212			6	%		6	%
Average margin loans	$	6,978		$	7,506		$	7,351		$	7,548		$	7,900			13	%		5	%
Broker-Dealer:
Average collateral management balances (in billions)	$	1,806		$	1,845		$	1,872		$	1,866		$	1,929			7	%		3	%
Treasury services:
Global payments transaction volume (in thousands)		10,761			10,944			11,088			10,856			10,838			1	%		—	%

(a) Total fee and other revenue includes investment management fees and distribution and servicing revenue.

(b) Noninterest expense excludes amortization of intangible assets, support agreement charges and litigation expense.

(c) Represents the securities on loan managed by the Investment Services business.

Page - 15

BNY Mellon 1Q12 Quarterly Earnings Review

INVESTMENT SERVICES KEY POINTS

• Investment services fees totaled $1.6 billion, unchanged year-over-year and an increase of 6% (unannualized) sequentially.

- Asset servicing fees (global custody, broker-dealer services and alternative investment services) were $915 million in 1Q12 compared with $890 million in 1Q11 and $858 million in 4Q11. Both increases reflect net new business and higher equity markets, as well as higher securities lending revenue driven by wider spreads.

- Issuer services fees (Corporate Trust and Depositary Receipts) were $251 million in 1Q12 compared with $292 million in 1Q11 and $245 million in 4Q11. The year-over-year decrease primarily resulted from lower money market fees, lower trust fees related to the weakness in structured products and higher fee waivers in Corporate Trust and lower Depositary Receipts revenue. Sequentially, higher Depositary Receipts revenue was partially offset by lower Corporate Trust fees.

- Clearing services fees (Pershing) were $303 million in 1Q12 compared with $292 million in 1Q11 and $278 million in 4Q11. The year-over-year increase was driven by net new business and growth in mutual fund assets and retirement accounts, partially offset by lower trading volumes and higher money market fee waivers. The sequential increase primarily reflects higher trading volumes and growth in mutual fund assets.

• Foreign exchange and other trading revenue decreased 16% year-over-year and 10% (unannualized) sequentially. The year-over-year decrease primarily reflects lower volumes and volatility, while sequentially, volumes were unchanged and volatility decreased 20%.

• Net interest revenue was $644 million in 1Q12 compared with $621 million in 1Q11 and $634 million in 4Q11. The year-over-year increase reflects higher average client deposits, partially offset by lower accretion. The sequential increase reflects wider spreads on deposit balances, partially offset by lower accretion.

• The provision for credit losses of $16 million in the first quarter of 2012 primarily resulted from a broker-dealer customer that filed for bankruptcy. This charge was previously recorded in the Other segment.

• Noninterest expense (excluding amortization of intangible assets) increased 5% year-over-year and 4% (unannualized) sequentially. Both increases reflect higher litigation and legal expenses. The sequential increase also reflects higher volume-related expenses and expenses in support of new business partially offset by expense control initiatives.

• 36% non-U.S. revenue in 1Q12 vs. 37% in 1Q11.

Page - 16

BNY Mellon 1Q12 Quarterly Earnings Review

OTHER SEGMENT primarily includes credit-related services, the leasing portfolio, corporate treasury activities, business exits, M&I expenses and other corporate revenue and expense items. Results in 2011 include the Shareowner Services business.

(dollars in millions)	1Q11			2Q11			3Q11			4Q11			1Q12
Revenue:
Fee and other revenue	$	147		$	269		$	121		$	240		$	164
Net interest revenue		25			33			63			91			66
Total revenue		172			302			184			331			230
Provision for credit losses		—			(1	)		(22	)		23			(11	)
Noninterest expense (ex. amortization of intangible assets,restructuring charges and M&I expenses)		249			274			180			245			251
Income (loss) before taxes (ex. amortization of intangible assets,restructuring charges and M&I expenses)		(77	)		29			26			63			(10	)
Amortization of intangible assets		3			5			4			3			—
Restructuring charges		(6	)		(7	)		(5	)		107			(9	)
M&I expenses		17			25			17			32			18
Income (loss) before taxes	$	(91	)	$	6		$	10		$	(79	)	$	(19	)
Average loans and leases	$	11,187		$	10,553		$	10,652		$	10,223		$	9,885

KEY POINTS

• Total fee and other revenue increased $17 million compared with 1Q11 and decreased $76 million compared with 4Q11. The year-over-year increase reflects higher net securities gains and higher leasing gains and an improved credit valuation adjustment, partially offset by the impact of the sale of the Shareowner Services business. The sequential decrease was driven by the sale of the Shareowner Services business, partially offset by higher net securities gains and higher leasing gains.

• Net interest revenue increased $41 million compared with 1Q11 and decreased $25 million compared with 4Q11. The year-over-year growth reflects increased investments in high quality investment securities. Sequentially, the decrease was primarily driven by lower average deposits, partially offset by increased investment securities.

• The provision for credit losses was a credit of $11 million in the first quarter of 2012 primarily resulting from the reclassification of a previously recorded charge to the Investment Services business.

• Noninterest expense (excluding amortization of intangible assets, restructuring charges and M&I expenses) increased $2 million compared with 1Q11 and $6 million compared with 4Q11. Both increases were primarily driven by higher incentive expense due to the vesting of long-term awards for retirement eligible employees and higher pension expense, partially offset by the impact of the sale of the Shareowner Services business.

Page - 17

BNY Mellon 1Q12 Quarterly Earnings Review

SUPPLEMENTAL INFORMATION – EXPLANATION OF NON-GAAP FINANCIAL MEASURES

BNY Mellon has included in this Earnings Review certain Non-GAAP financial measures based upon tangible common shareholders’ equity. BNY Mellon believes that the ratio of Tier 1 common equity to risk-weighted assets and the ratio of tangible common shareholders’ equity to tangible assets of operations are measures of capital strength that provide additional useful information to investors, supplementing the Tier 1 and Total capital ratios which are utilized by regulatory authorities. The ratio of Tier 1 common equity to risk-weighted assets excludes trust preferred securities, which will be phased out of Tier 1 regulatory capital beginning in 2013. Unlike the Tier 1 and Total capital ratios, the tangible common shareholders’ equity ratio fully incorporates those changes in investment securities valuations which are reflected in total 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. 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 presented its estimated Basel III Tier 1 common equity ratio on a basis that is representative of how it currently understands the Basel III rules. Management views the Basel III Tier 1 common equity ratio as a key measure in monitoring BNY Mellon’s capital position. Additionally, the presentation of the Basel III Tier 1 common equity ratio allows investors to compare BNY Mellon’s Basel III Tier 1 common equity ratio with estimates presented by other companies.

BNY Mellon has provided a 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 securities gains (losses) and noncontrolling interests related to consolidated investment management funds; and expense measures which exclude restructuring charges, M&I expenses and amortization of intangible assets expenses. Return on equity and operating margin measures, which exclude some or all of these items, are also presented. Operating margin measures also exclude noncontrolling interests related to consolidated investment management funds. 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 certain ongoing charges as a result of prior transactions, or where we have incurred charges unrelated to operational initiatives. M&I expenses primarily relate to the acquisitions of Global Investment Servicing on July 1, 2010 and BHF Asset Servicing GmbH on Aug. 2, 2010. 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. 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 securities gains (losses), BNY Mellon’s primary businesses are Investment Management and Investment Services. The management of these businesses 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. The investment securities portfolio is managed within 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. Restructuring charges relate to our operational excellence initiatives and migrating positions to global growth centers. Excluding these charges permits investors to view expenses on a basis consistent with how management views the business.

The presentation of income (loss) of consolidated investment management funds, net of net income (loss) attributable to noncontrolling interest related to the consolidation of certain investment management funds permits investors to view revenue on a basis consistent with prior periods. BNY Mellon believes that these presentations, as a supplement to GAAP information, give investors a clearer picture of the results of its primary businesses.

Page - 18

BNY Mellon 1Q12 Quarterly Earnings Review

In this Earnings Review, the net interest margin is 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.

Each of these measures as described above is used by management to monitor financial performance, both on a company-wide and on a business-level basis.

Reconciliation of net income and EPS – GAAP to Non-GAAP	1Q11					4Q11					1Q12
(dollars in millions, except per common share amounts)	Net income			EPS		Net income		EPS			Net income		EPS
Net income applicable to common shareholders of The Bank of New York Mellon Corporation – GAAP – Diluted EPS basis	$	625		$	0.50	$	505	$	0.42		$	619	$	0.52
Add:     Restructuring charges		(5	)		N/A		67		0.06			N/A		N/A
M&I expenses		11			N/A		N/A		N/A			N/A		N/A
Net income applicable to common shareholders excluding restructuring charges and M&I expenses – Non-GAAP		631			0.50		572		0.47	(a)		619		0.52
Add:     Amortization of intangible assets		68			0.05		66		0.05			61		0.05
Net income applicable to common shareholders excluding restructuring charges, M&I expenses and amortization of intangible assets – Non-GAAP	$	699		$	0.55	$	638	$	0.52		$	680	$	0.57

(a) Does not foot due to rounding.

N/A – Not applicable.

Reconciliation of income before income taxes – pre-tax operating margin
(dollars in millions)		1Q11			2Q11			3Q11			4Q11			1Q12
Income before income taxes – GAAP	$	949		$	1,034		$	945		$	689		$	885
Less: Net income (loss) attributable to noncontrolling interests of consolidated investment management funds		44			21			13			(28	)		11
Add: Amortization of intangible assets		108			108			106			106			96
Restructuring charges		(6	)		(7	)		(5	)		107			(9	)
M&I expenses		17			25			17			32			18
Income before income taxes excluding net income (loss) attributable to noncontrolling interests of consolidated investment management funds, amortization of intangible assets, restructuring charges and M&I expenses – Non-GAAP	$	1,024		$	1,139		$	1,050		$	962		$	979
Fee and other revenue – GAAP	$	2,838		$	3,056		$	2,887		$	2,765		$	2,838
Income of consolidated investment management funds – GAAP		110			63			32			(5	)		43
Net interest revenue – GAAP		698			731			775			780			765
Total revenue – GAAP		3,646			3,850			3,694			3,540			3,646
Less: Net income (loss) attributable to noncontrolling interests of consolidated investment management funds		44			21			13			(28	)		11
Total revenue excluding net income (loss) attributable to noncontrolling interests of consolidated investmentmanagement funds – Non-GAAP	$	3,602		$	3,829		$	3,681		$	3,568		$	3,635
Pre-tax operating margin (a)		26	%		27	%		26	%		19	%		24	%
Pre-tax operating margin excluding net income (loss) attributable to noncontrolling interests of consolidated investment management funds, amortization of intangible assets, restructuring charges and M&I expenses – Non-GAAP (a)		28	%		30	%		29	%		27	%		27	%

(a) Income before taxes divided by total revenue.

Page - 19

BNY Mellon 1Q12 Quarterly Earnings Review

Return on common equity and tangible common equity (dollars in millions)	1Q11			2Q11			3Q11			4Q11			1Q12
Net income applicable to common shareholders of The Bank of New York Mellon Corporation – GAAP	$	625		$	735		$	651		$	505		$	619
Add:  Amortization of intangible assets, net of tax		68			68			67			66			61
Net income applicable to common shareholders of The Bank of New York Mellon Corporation excluding amortization of intangible assets – Non-GAAP		693			803			718			571			680
Less:  Net securities gains (losses)		3			N/A			N/A			N/A			N/A
Add:  Restructuring charges		(5	)		(5	)		(3	)		67			(6	)
M&I expenses		11			16			11			21			12
Net income applicable to common shareholders of The Bank of New York Mellon Corporation excluding amortization of intangible assets, net securities gains (losses), restructuring charges and M&I expenses – Non-GAAP	$	696		$	814		$	726		$	659		$	686
Average common shareholders’ equity	$	32,827		$	33,464		$	34,008		$	33,761		$	33,718
Less:  Average goodwill		18,121			18,193			18,156			18,044			17,962
Average intangible assets		5,664			5,547			5,453			5,333			5,121
Add: Deferred tax liability – tax deductible goodwill		862			895			915			967			972
Deferred tax liability – non-tax deductible intangible assets		1,658			1,630			1,604			1,459			1,428
Average tangible common shareholders’ equity – Non-GAAP	$	11,562		$	12,249		$	12,918		$	12,810		$	13,035
Return on common equity– GAAP (a)		7.7	%		8.8	%		7.6	%		5.9	%		7.4	%
Return on common equity excluding amortization of intangible assets, net securities gains (losses),restructuring charges and M&I expenses – Non-GAAP (a)		8.6	%		9.7	%		8.5	%		7.7	%		8.2	%
Return on tangible common equity – Non-GAAP (a)		24.3	%		26.3	%		22.1	%		17.7	%		21.0	%
Return on tangible common equity excluding net securities gains (losses), restructuring charges and M&I expenses – Non-GAAP (a)		24.4	%		26.6	%		22.3	%		20.4	%		21.2	%

(a) Annualized.

N/A – Not applicable.

Equity to assets and book value per common share	March 31,			Dec. 31,			March 31,
(dollars in millions, unless otherwise noted)	2011			2011			2012
BNY Mellon shareholders’ equity at period end – GAAP	$	33,258		$	33,417		$	34,000
Less: Goodwill		18,156			17,904			18,002
Intangible assets		5,617			5,152			5,072
Add: Deferred tax liability – tax deductible goodwill		862			967			972
Deferred tax liability – non-tax deductible intangible assets		1,658			1,459			1,428
Tangible BNY Mellon shareholders’ equity at period end – Non-GAAP	$	12,005		$	12,787		$	13,326
Total assets at period end – GAAP	$	266,444		$	325,266		$	300,169
Less: Assets of consolidated investment management funds		14,699			11,347			11,609
Subtotal assets of operations – Non-GAAP		251,745			313,919			288,560
Less:   Goodwill		18,156			17,904			18,002
Intangible assets		5,617			5,152			5,072
Cash on deposit with the Federal Reserve and other central banks (a)		24,613			90,230			61,992
Tangible total assets of operations at period end – Non-GAAP	$	203,359		$	200,633		$	203,494
BNY Mellon shareholders’ equity to total assets – GAAP		12.5	%		10.3	%		11.3	%
Tangible BNY Mellon shareholders’ equity to tangible assets of operations – Non-GAAP		5.9	%		6.4	%		6.5	%
Period end common shares outstanding (in thousands)		1,241,724			1,209,675			1,192,716
Book value per common share	$	26.78		$	27.62		$	28.51
Tangible book value per common share – Non-GAAP	$	9.67		$	10.57		$	11.17

(a) Assigned a zero percent risk-weighting by the regulators.

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BNY Mellon 1Q12 Quarterly Earnings Review

Calculation of Basel I Tier 1 common equity to risk-weighted assets ratio (dollars in millions)	March 31, 2011			Dec. 31, 2011			March 31, 2012 (a)
Total Tier 1 capital – Basel I	$	14,402		$	15,389		$	15,696
Less: Trust preferred securities		1,686			1,659			1,669
Total Tier 1 common equity	$	12,716		$	13,730		$	14,027
Total risk-weighted assets – Basel I	$	102,887		$	102,255		$	100,785
Basel I Tier 1 common equity to risk-weighted assets ratio		12.4	%		13.4	%		13.9	%

(a) Preliminary.

The following table presents the calculation of our estimated Basel III Tier 1 common equity ratio on a fully-phased-in basis.

Estimated Basel III Tier 1 common equity ratio – Non-GAAP (a) (dollars in millions)	March 31, 2011			Dec. 31, 2011			March 31, 2012 (b)
Total Tier 1 capital – Basel I	$	14,402		$	15,389		$	15,696
Less: Trust preferred securities		1,686			1,659			1,669
Adjustments related to available-for-sale securities and pension liabilities included in accumulated other comprehensive income (c)		729			944			701
Adjustments related to equity method investments (c)		524			555			571
Net pensions fund assets (c)		409			90			100
Other		—			(3	)		(2	)
Total estimated Basel III Tier 1 common equity	$	11,054		$	12,144		$	12,657
Total risk-weighted assets – Basel I	$	102,887		$	102,255		$	100,785
Add:   Adjustments (d)		77,199			67,813			65,889
Total estimated Basel III risk-weighted assets	$	180,086		$	170,068		$	166,674
Estimated Basel III Tier 1 common equity ratio – Non-GAAP		6.1	%		7.1	%		7.6	%

(a) Our estimated Basel III Tier 1 common equity ratio – Non-GAAP reflects our current interpretation of the Basel III rules. Our estimated Basel III Tier 1 common equity ratio could change in the near future as the U.S. regulatory agencies implement Basel III or if our businesses change.

(b) Preliminary.

(c) Basel III does not add back to capital the adjustment to other comprehensive income that Basel I and Basel II make for pension liabilities and available-for-sale securities. Also, under Basel III, pension assets recorded on the balance sheet and adjustments related to equity method investments are a deduction from capital.

(d) Primary differences between Basel I and Basel III include: the determination of credit risk under Basel I uses predetermined risk weights and asset classes, while under Basel III includes borrower credit ratings and internal risk models; the treatment of securitizations that fall below investment grade receive a significantly higher risk-weighting under Basel III than Basel I; also, Basel III includes additional adjustments for operational risk, market risk, counterparty credit risk and equity exposures.

The following table presents income from consolidated investment management funds, net of noncontrolling interests.

Income from consolidated investment management funds, net of noncontrolling interests (dollars in millions)	1Q11		2Q11		3Q11		4Q11			1Q12
Income (loss) from consolidated investment management funds	$	110	$	63	$	32	$	(5	)	$	43
Less: Net income (loss) attributable to noncontrolling interests of consolidated investment management funds		44		21		13		(28	)		11
Income from consolidated investment management funds, net of noncontrolling interests	$	66	$	42	$	19	$	23		$	32

Page - 21

BNY Mellon 1Q12 Quarterly Earnings Review

The following table presents the line items in the Investment Management business impacted by the consolidated investment management funds.

Income from consolidated investment management funds, net of noncontrolling interests (dollars in millions)	1Q11		2Q11		3Q11			4Q11		1Q12
Investment management and performance fees	$	31	$	29	$	27		$	20	$	22
Other (Investment income)		35		13		(8	)		3		10
Income from consolidated investment management funds, net of noncontrolling interests	$	66	$	42	$	19		$	23	$	32

The following tables present fee and other revenue and noninterest expense excluding Shareowner Services.

Fee and other revenue excluding Shareowner Services													1Q12 vs.
(dollars in millions)	1Q11		2Q11		3Q11			4Q11			1Q12		1Q11			4Q11
Investment services fees:
Asset servicing		$     917	$	973	$	922		$	885		$	943		3	%		7	%
Issuer services		292		314		400			245			251		(14	)		2
Clearing services		292		292		297			278			303		4			9
Treasury services		134		134		133			134			136		1			1
Total investment services fees		1,635		1,713		1,752			1,542			1,633		—			6
Investment management and performance fees		764		779		729			730			745		(2	)		2
Foreign exchange and other trading revenue		197		221		200			227			191		(3	)		(16	)
Distribution and servicing		53		49		43			42			46		(13	)		10
Financing-related fees		41		47		38			37			44		7			19
Investment and other income		81		145		83			48			139		N/M			N/M
Total fee revenue		2,771		2,954		2,845			2,626			2,798		1			7
Net securities gains (losses)		5		48		(2	)		(3	)		40		N/M			N/M
Total fee and other revenue		$2,776	$	3,002	$	2,843		$	2,623		$	2,838		2	%		8	%

Noninterest expense excluding Shareowner Services															1Q12 vs.
(dollars in millions)	1Q11			2Q11			3Q11			4Q11		1Q12			1Q11			4Q11
Staff:
Compensation		$     862		$	888		$	889		$	871	$	861			—	%		(1	)%
Incentives		323			327			327			278		352			9			27
Employee benefits		219			229			222			213		240			10			13
Total staff		1,404			1,444			1,438			1,362		1,453			3			7
Professional, legal and other purchased services		272			289			300			310		299			10			(4	)
Software and equipment		205			203			192			212		205			—			(3	)
Net occupancy		150			158			149			156		147			(2	)		(6	)
Distribution and servicing		111			109			100			96		101			(9	)		5
Sub-custodian		68			88			80			62		70			3			13
Business development		56			72			57			74		56			—			(24	)
Other		266			280			300			265		320			20			21
Subtotal		2,532			2,643			2,616			2,537		2,651			5			4
Amortization of intangible assets		105			104			103			103		96			(9	)		(7	)
Restructuring charges		(6	)		(7	)		(5	)		107		(9	)		N/ M			N/ M
M&I expenses		17			25			17			32		18			6			(44	)
Total noninterest expense		$2,648		$	2,765		$	2,731		$	2,779	$	2,756			4	%		(1	)%

The following table presents investment management fees net of performance fees.

Investment management and performance fees											1Q12 vs.
(dollars in millions)	1Q11		2Q11		3Q11		4Q11		1Q12		1Q11			4Q11
Investment management and performance fees		$764	$	779	$	729	$	730	$	745		(2	)%		2	%
Less: Performance fees		17		18		11		47		16		N/M			N/M
Investment management fees		$747	$	761	$	718	$	683	$	729		(2	)%		7	%

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BNY Mellon 1Q12 Quarterly Earnings Review

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 including statements made regarding our operational excellence initiatives. These statements may be expressed in a variety of ways, including the use of future or present tense language. 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, 2011 and BNY Mellon’s other filings with the Securities and Exchange Commission. All forward-looking statements in this Earnings Review speak only as of April 18, 2012, 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:

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

On December 31, 2011, BNY Mellon sold its Shareowner Services business. In the first quarter of 2012, we reclassified the results of the Shareowner Services business from the Investment Services business to the Other segment. The reclassification did not impact the consolidated results. All prior periods have been restated.

On July 1, 2010 and August 2, 2010 we completed the acquisitions of Global Investment Servicing (“GIS”) and BHF Asset Servicing GmbH (“BAS”). The financial results for GIS are included in the Investment Services and Other businesses. The financial results for BAS are included in the Investment Services business.

On January 1, 2010, we adopted SFAS No. 167, “Amendments to FASB Interpretation No. 46 (R).” Certain investment management funds are 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 investment management funds; previously these were disclosed as investment management and performance fees revenue and investment and other income.

The following items have impacted the comparability of our results:

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

Expense efficiency restructuring charges—Recorded charges in 2010 and 2011

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

Certain immaterial reclassifications have been made to prior periods to place them on a basis comparable with the current period’s presentation.

Discontinued Operations Accounting:

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

Average Assets:

In businesses 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 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 April 18, 2012, furnished as an exhibit to the Report on Form 8-K to which these Financial Trends are furnished as an exhibit.

Summations may not equal due to rounding. As a result of this rounding convention, immaterial differences may exist between the business trends data versus business data on the Form 10-K for the year ended December 31, 2011.

Page 1 of 14

THE BANK OF NEW YORK MELLON CORPORATION

CONTINUING OPERATIONS-9 Quarter Trend

	2010												2011												2012
(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
Revenue:
Investment services fees
Asset servicing	$	637		$	668		$	863		$	908		$	917		$	973		$	922		$	885		$	943
Issuer services		333			354			364			409			351			365			442			287			251
Clearing services		230			245			252			278			292			292			297			278			303
Treasury services		131			125			139			135			134			134			133			134			136
Total investment services fees		1,331			1,392			1,618			1,730			1,694			1,764			1,794			1,584			1,633
Investment management and performance fees		686			686			696			800			764			779			729			730			745
Foreign exchange & other trading revenue		262			220			146			258			198			222			200			228			191
Distribution and servicing		48			51			56			55			53			49			43			42			46
Financing-related fees		50			48			49			48			43			49			40			38			44
Investment and other income		145			145			97			80			81			145			83			146			139
Total fee revenue		2,522			2,542			2,662			2,971			2,833			3,008			2,889			2,768			2,798
Net Securities gains (losses)		7			13			6			1			5			48			(2	)		(3	)		40
Total fee and other revenue		2,529			2,555			2,668			2,972			2,838			3,056			2,887			2,765			2,838
Income of consolidated investment management funds		65			65			37			59			110			63			32			(5	)		43
Net interest revenue		765			722			718			720			698			731			775			780			765
Total revenue		3,359			3,342			3,423			3,751			3,646			3,850			3,694			3,540			3,646
Provision for credit losses		35			20			(22	)		(22	)		—			—			(22	)		23			5
Noninterest expenses		2,146			2,219			2,429			2,624			2,578			2,690			2,653			2,583			2,651
Special Litigation Reserves		164			N/A			N/A			N/A			N/A			N/A			N/A			N/A			N/A
Amortization of intangible assets		97			98			111			115			108			108			106			106			96
Restructuring charges		7			(15	)		15			21			(6	)		(7	)		(5	)		107			(9	)
Merger & integration expense		26			14			56			43			17			25			17			32			18
Total noninterest expense		2,440			2,316			2,611			2,803			2,697			2,816			2,771			2,828			2,756
Income/ (loss) from continuing operations before taxes		884			1,006			834			970			949			1,034			945			689			885
Income taxes		258			304			220			265			279			277			281			211			254
Income/ (loss) from continuing operations		626			702			614			705			670			757			664			478			631
Income/ (loss) from discontinued operations, net of tax		(42	)		(10	)		(3	)		(11	)		—			—			—			—			—
Net income attributable to noncontrolling interest		(25	)		(34	)		11			(15	)		(45	)		(22	)		(13	)		27			(12	)
Net income/ (loss) applicable to shareholders of The Bank of New York Mellon Corporation	$	559		$	658		$	622		$	679		$	625		$	735		$	651		$	505		$	619
EPS from continuing operations	$	0.49		$	0.55		$	0.51		$	0.55		$	0.50		$	0.59		$	0.53		$	0.42		$	0.52
EPS from continuing operations-Non-GAAP (a)	$	0.59		$	0.55		$	0.55		$	0.59		$	0.50		$	0.60		$	0.53		$	0.49		$	0.52
Market value of assets under management at period-end (in billions)	$	1,105		$	1,047		$	1,141		$	1,172		$	1,229		$	1,274		$	1,198		$	1,260		$	1,308
Market value of assets under custody and administration at period-end (in trillions)	$	22.4		$	21.8		$	24.4		$	25.0		$	25.5		$	26.3		$	25.9		$	25.8		$	26.6
`
Market value of securities on loan at period-end (in billions)	$	253		$	248		$	279		$	278		$	278		$	273		$	250		$	269		$	265
Pre-tax operating margin
GAAP		26	%		30	%		24	%		26	%		26	%		27	%		26	%		19	%		24	%
Non-GAAP adjusted (b)		34	%		32	%		30	%		30	%		28	%		30	%		30	%		27	%		27	%
Return on common equity (annualized)
GAAP		8.2	%		8.8	%		7.8	%		8.5	%		7.7	%		8.8	%		7.6	%		5.9	%		7.4	%
Return on tangible common equity (annualized):
Non-GAAP		25.8	%		25.7	%		26.3	%		27.5	%		24.3	%		26.3	%		22.1	%		17.7	%		21.0	%
Percent of non-US fee and net interest revenue-GAAP		34	%		35	%		36	%		38	%		36	%		37	%		39	%		34	%		36	%
Percent of non-US fee and net interest revenue-Non-GAAP (c)		35	%		35	%		36	%		38	%		37	%		37	%		39	%		34	%		37	%

(a) Calculated excluding M&I expenses, restructuring charges and 1st quarter 2010 special litigation reserves.

(b) Calculated excluding M&I expenses, restructuring charges, intangible amortization and 1st quarter 2010 special litigation reserves, and noncontrolling interest related to consolidated asset management funds.

(c) Calculated excluding net securities gains (losses) and including noncontrolling interest 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 14

THE BANK OF NEW YORK MELLON CORPORATION

CONTINUING OPERATIONS—9 Quarter Trend

FEE AND OTHER REVENUE

	2010												2011												2012
(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
Investment services fees
Asset servicing	$	608		$	622		$	826		$	870		$	880		$	911		$	881		$	842		$	894
Securities lending		29			46			37			38			37			62			41			43			49
Issuer services		333			354			364			409			351			365			442			287			251
Memo: Issuer Services excluding Shareowner Services		283			298			318			360			292			314			400			245			251
Clearing services		230			245			252			278			292			292			297			278			303
Treasury services		131			125			139			135			134			134			133			134			136
Total investment services fees		1,331			1,392			1,618			1,730			1,694			1,764			1,794			1,584			1,633
Investment management and performance fees		686			686			696			800			764			779			729			730			745
Foreign exchange & other trading revenue		262			220			146			258			198			222			200			228			191
Distribution and servicing		48			51			56			55			53			49			43			42			46
Financing-related fees		50			48			49			48			43			49			40			38			44
Investment and other income		145			145			97			80			81			145			83			146			139
Total fee revenue		2,522			2,542			2,662			2,971			2,833			3,008			2,889			2,768			2,798
Income of consolidated asset management funds, net of noncontrolling interest		41			32			49			45			66			42			19			23			32
Total fee revenue - Non-GAAP (a)		2,563			2,574			2,711			3,016			2,899			3,050			2,908			2,791			2,830
Net securities gains (losses)		7			13			6			1			5			48			(2	)		(3	)		40
Total fee and other revenue - Non-GAAP		2,570			2,587			2,717			3,017			2,904			3,098			2,906			2,788			2,870
Less: Fee and Other revenue related to Shareowner Services		54			58			47			52			62			54			44			142			—
Total fee and other revenue ex Shareowner Services - Non-GAAP		2,516			2,529			2,670			2,965			2,842			3,044			2,862			2,646			2,870
Fee and other revenue as a percentage of total revenue-Non-GAAP (b)		75	%		76	%		78	%		79	%		78	%		79	%		78	%		78	%		78	%
Market value of assets under management at period-end (in billions)	$	1,105		$	1,047		$	1,141		$	1,172		$	1,229		$	1,274		$	1,198		$	1,260		$	1,308
Market value of assets under custody and administration at period-end (in trillions)	$	22.4		$	21.8		$	24.4		$	25.0		$	25.5		$	26.3		$	25.9		$	25.8		$	26.6
Market value of securities on loan at period-end (in billions)	$	253		$	248		$	279		$	278		$	278		$	273		$	250		$	269		$	265
S&P 500 Index-period-end		1169			1031			1141			1258			1326			1321			1131			1258			1408
S&P 500 Index-daily average		1123			1135			1095			1204			1302			1318			1227			1224			1347

(a) The GIS and BAS acquisitions were completed on July 1, 2010 and August 2, 2010, respectively.

(b) Excludes net securities gains/(losses).

Page 3 of 14

THE BANK OF NEW YORK MELLON CORPORATION

CONTINUING OPERATIONS

Average Balances and Interest Rates

	March 31, 2010						June 30, 2010						September 30, 2010						December 31, 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)	$	55,800			0.94	%	$	50,741			0.89	%	$	60,431			0.83	%	$	59,660			0.81	%
Interest-bearing deposits with Federal Reserve bank		12,097			0.33			18,276			0.34			9,812			0.40			16,787			0.32
Other Short Term Investment (FRB)		—			—			—			—			—			—			—			—
Federal funds sold and securities under resale agreements		3,859			0.71			4,652			0.66			4,559			0.46			5,553			3.15
Margin loans		5,241			1.49			5,786			1.49			6,269			1.47			6,289			1.55
Non-margin loans:
Domestic offices		19,495			3.12			20,735			2.89			21,072			2.74			21,754			2.55
Foreign offices		9,478			1.62			10,143			1.53			9,428			1.61			9,486			1.53
Total non-margin loans		28,973			2.63			30,878			2.45			30,500			2.39			31,240			2.24
Securities
U.S. government obligations		6,600			1.40			6,162			1.46			7,229			1.63			11,390			1.51
U.S. government agency obligations		19,429			3.58			19,629			3.48			20,074			3.29			21,406			2.95
Obligations of states and political subdivisions		670			6.37			638			6.56			615			6.43			587			6.53
Other securities		28,653			4.20			27,601			4.14			30,075			3.86			31,987			3.55
Trading securities		2,075			2.49			2,752			2.62			3,194			2.57			2,698			3.02
Total securities		57,427			3.63			56,782			3.58			61,187			3.36			68,068			3.02
Total interest-earning assets		163,397			2.15			167,115			2.04			172,758			1.99			187,597			1.90
Allowance for credit losses		(502	)					(517	)					(538	)					(530	)
Cash and due from banks		3,546						3,677						3,904						4,224
Other assets		45,346						46,266						50,007						50,220
Discontinued Operations		898						260						247						223
Total Asset Consol VIE FAS 167		12,730						12,040						13,947						14,675
Total Assets	$	225,415					$	228,841					$	240,325					$	256,409
Liabilities and total equity
Interest-bearing liabilities:
Money market rate accounts	$	3,164			0.43	%	$	3,892			0.48	%	$	4,466			0.52	%	$	6,296			0.40	%
Savings		1,372			0.27			1,389			0.27			1,389			0.26			1,433			0.22
Certificates of deposit of $100,000 & over		648			0.25			332			0.16			214			0.11			285			0.08
Demand Deposits		—			—			—			—			—			—			—			—
Other time deposits		23,801			0.09			26,289			0.08			27,440			0.07			29,002			0.07
Foreign offices		72,049			0.10			68,061			0.10			70,524			0.13			74,760			0.14
Total interest-bearing deposits		101,034			0.11			99,963			0.11			104,033			0.13			111,776			0.14
Federal funds purchased and securities under repurchase agreements		3,697			0.07			4,441			0.19			5,984			0.09			7,256			2.13
Trading Liabilities		1,178			2.91			1,668			2.69			1,961			2.51			1,704			2.06
Other borrowed funds		1,627			1.29			2,555			1.69			2,068			0.85			1,999			0.80
Payables to customers and broker-dealers		6,372			0.08			6,596			0.09			6,910			0.08			5,878			0.11
Long-term debt		16,808			1.50			16,462			1.75			16,798			2.04			16,624			1.87
Total interest-bearing liabilities		130,716			0.33			131,685			0.37			137,754			0.41			145,237			0.47
Total noninterest-bearing deposits		33,330						34,628						33,198						39,625
Other liabilities		18,420						20,042						23,770						24,740
Discontinued Operations		898						260						247						223
VIE Liabilities & Obligations FAS 167		11,540						11,046						12,778						13,481
Total Shareholders’ Equity		29,715						30,462						31,868						32,379
Noncontrolling interest		796						718						710						724
Total liabilities and shareholders’ equity	$	225,415					$	228,841					$	240,325					$	256,409
Net interest margin-Taxable equivalent basis					1.89	%					1.74	%					1.67	%					1.54	%

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 14

THE BANK OF NEW YORK MELLON CORPORATION

CONTINUING OPERATIONS

Average Balances and Interest Rates (continued)

	PRELIMINARY
	Quarter End
	March 31, 2011						June 30, 2011						September 30, 2011						December 31, 2011						March 31, 2012
(dollar amounts in millions)	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)	$	57,637			0.90	%	$	59,291			0.98	%	$	60,412			1.00	%	$	43,628			1.08	%	$	35,095			1.30	%
Interest-bearing deposits with Federal Reserve bank		20,367			0.32			34,068			0.32			61,115			0.31			72,118			0.32			63,526			0.27
Other Short Term Investment (FRB)		—			—			—						—			—			—			—			—			—
Federal funds sold and securities under resale agreements		4,514			0.50			4,577			0.46			4,865			0.71			5,271			0.64			5,174			0.72
Margin loans		7,484			1.48			9,508			1.34			9,379			1.34			11,886			1.26			12,901			1.29
Non-margin loans:
Domestic offices		21,856			2.57			21,093			2.54			21,583			2.43			21,794			2.37			20,128			2.46
Foreign offices		9,226			1.44			9,727			1.53			9,527			1.52			10,556			1.54			10,180			1.77
Total non-margin loans		31,082			2.22			30,820			2.23			31,110			2.15			32,350			2.10			30,308			2.23
Securities
U.S. government obligations		12,849			1.61			14,337			1.63			14,079			1.57			18,693			1.45			17,268			1.56
U.S. government agency obligations		20,221			2.98			20,466			3.09			20,998			2.93			25,006			2.58			32,347			2.41
Obligations of states and political subdivisions		557			6.37			934			5.32			1,611			4.13			2,452			3.47			3,354			2.97
Other securities		31,770			3.43			33,045			3.25			34,175			3.30			33,830			3.19			33,840			2.87
Trading securities		3,698			2.44			2,877			2.44			2,509			2.62			2,490			2.94			2,518			2.78
Total securities		69,095			2.96			71,659			2.87			73,372			2.86			82,471			2.60			89,327			2.44
Total interest-earning assets		190,179			1.80			209,923			1.70			240,253			1.55			247,724			1.50			236,331			1.56
Allowance for credit losses		(494	)					(463	)					(437	)					(384	)					(392	)
Cash and due from banks		4,094						4,335						5,204						4,695						4,271
Other assets		49,577						50,459						53,305						52,200						49,690
Discontinued Operations		—						—						—						—						—
Total Asset Consol VIE FAS 167		14,342						14,226						13,138						11,839						11,444
Total Assets	$	257,698					$	278,480					$	311,463					$	316,074					$	301,344
Liabilities and total equity
Interest-bearing liabilities:
Money market rate accounts	$	5,417			0.38	%	$	4,029			0.41	%	$	4,532			0.35	%	$	4,666			0.27		$	4,299			0.27
Savings		1,600			0.16			1,646			0.16			1,692			0.15			1,163			0.19			787			0.30
Certificates of deposit of $100,000 & over		296			0.06			369			0.05			394			0.05			396			0.05			30			0.39
Demand Deposits		—			—			—			—			—			—			—			—			64			0.01
Other time deposits		31,823			0.09			34,484			0.08			35,597			0.07			35,624			0.07			33,588			0.08
Foreign offices		77,379			0.19			85,430			0.26			83,580			0.26			88,494			0.22			86,670			0.15
Total interest-bearing deposits		116,515			0.17			125,958			0.22			125,795			0.21			130,343			0.18			125,438			0.14
Federal funds purchased and securities under repurchase agreements		5,172			0.07			10,894			0.06			10,164			0.03			8,008			(0.07	)		8,584			(0.02	)
Trading Liabilities		2,764			1.86			1,524			2.35			1,911			1.25			1,225			1.62			1,153			1.55
Other borrowed funds		1,821			1.61			1,877			0.99			2,256			0.77			2,159			0.93			2,579			0.79
Payables to customers and broker- dealers		6,701			0.10			6,843			0.09			7,692			0.10			8,023			0.08			7,555			0.11
Long-term debt		17,014			1.87			17,380			1.63			18,256			1.60			19,546			1.55			20,538			1.79
Total interest-bearing liabilities		149,987			0.40			164,476			0.38			166,074			0.37			169,304			0.34			165,847			0.34
Total noninterest-bearing deposits		38,616						43,038						73,389						76,309						66,613
Other liabilities		22,350						23,694						25,462						25,433						24,248
Discontinued Operations		—						—						—						—						—
VIE Liabilities & Obligations FAS 167		13,114						12,966						11,728						10,516						10,159
Total Shareholders’ Equity		32,827						33,464						34,008						33,761						33,718
Noncontrolling interest		804						842						802						752						759
Total liabilities and total equity	$	257,698					$	278,480					$	311,463					$	316,074					$	301,344
Net interest margin - Taxable equivalent basis					1.49	%					1.41	%					1.30	%					1.27	%					1.32	%

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 14

THE BANK OF NEW YORK MELLON CORPORATION

CONTINUING OPERATIONS - 9 Quarter Trend

NONINTEREST EXPENSE

	2010									2011											2012
(dollar amounts in millions)	1st Qtr		2nd Qtr			3rd Qtr		4th Qtr		1st Qtr			2nd Qtr			3rd Qtr			4th Qtr		1st Qtr
Staff:
Compensation	$	753	$	763		$	850	$	871	$	876		$	903		$	903		$	885	$	861
Incentives		284		272			289		348		325			328			328			281		352
Employee benefits		183		199			205		198		223			232			226			216		240
Total staff		1,220		1,234			1,344		1,417		1,424			1,463			1,457			1,382		1,453
Professional, legal and other purchased services		241		256			282		320		283			301			311			322		299
Software and equipment		169		162			187		207		206			203			193			213		205
Net occupancy		137		143			150		158		153			161			151			159		147
Distribution and servicing		89		90			94		104		111			109			100			96		101
Sub-custodian		52		65			60		70		68			88			80			62		70
Business development		52		68			63		88		56			73			57			75		56
Other		186		201			249		260		277			292			304			274		320
Subtotal (a)	$	2,146	$	2,219		$	2,429	$	2,624	$	2,578		$	2,690		$	2,653		$	2,583	$	2,651
Special Litigation Reserves		164		N/A			N/A		N/A		N/A			N/A			N/A			N/A		N/A
Amortization of intangible assets		97		98			111		115		108			108			106			106		96
Restructuring charges		7		(15	)		15		21		(6	)		(7	)		(5	)		107		(9	)
Merger & integration expense		26		14			56		43		17			25			17			32		18
Total noninterest expense	$	2,440	$	2,316		$	2,611	$	2,803	$	2,697		$	2,816		$	2,771		$	2,828	$	2,756
Memo:
Total noninterest expense excluding amortization of intangible and direct expense related to Shareowner Services -Non-GAAP	$	2,263	$	2,170		$	2,387	$	2,574	$	2,532		$	2,643		$	2,616		$	2,537	$	2,651
Full Time Employees at period-end (b)		42,300		42,700			47,700		48,000		48,400			48,900			49,600			48,700		47,800

(a) The GIS and BAS acquisitions were completed on July 1, 2010 and August 2, 2010, respectively. The Shareowner Services business was sold on December 31, 2011.

(b) Represents full time employees.

Page 6 of 14

THE BANK OF NEW YORK MELLON CORPORATION

ASSETS UNDER MANAGEMENT/ CUSTODY AND ADMINISTRATION / SECURITIES LENDING - 9 Quarter Trend

	2010												2011												2012
(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
Market value of assets under management at period-end (in billions)
Institutional	$	620		$	595		$	639		$	639		$	701		$	733		$	719		$	757		$	829
Mutual Funds		396			370			418			454			451			462			406			427			404
Private Client		89			82			84			79			77			79			73			76			75
Total market value of assets under management (a)		1,105			1,047			1,141			1,172			1,229			1,274			1,198			1,260			1,308
Composition of assets under management at period-end
Equity		31	%		30	%		31	%		32	%		34	%		34	%		30	%		31	%		33	%
Fixed Income		28	%		30	%		30	%		29	%		30	%		31	%		35	%		35	%		35	%
Money Market		30	%		30	%		29	%		29	%		27	%		26	%		27	%		26	%		24	%
Alternative investments and overlay		11	%		10	%		10	%		10	%		9	%		9	%		8	%		8	%		8	%
Total		100	%		100	%		100	%		100	%		100	%		100	%		100	%		100	%		100	%
Market value of assets under custody and administration at period-end (in trillions)	$	22.4		$	21.8		$	24.4		$	25.0		$	25.5		$	26.3		$	25.9		$	25.8		$	26.6
Market value of securities on loan at period-end (b)	$	253		$	248		$	279		$	278		$	278		$	273		$	250		$	269		$	265
Market Indices
S&P 500 Index (c)		1169			1031			1141			1258			1326			1321			1131			1258			1408
S&P 500 Index-daily average		1123			1135			1095			1204			1302			1318			1227			1224			1347
FTSE 100 Index (c)		5680			4917			5549			5900			5909			5946			5128			5572			5768
FTSE 100 Index-daily average		5431			5361			5312			5760			5945			5906			5470			5424			5818
Barclays Capital Aggregate Bond Index (c)		300			299			329			323			328			341			346			347			351
MSCI Emerging Markets (EM) IMI Index (c)		1004			914			1074			1151			1164			1140			874			904			1030
NYSE & NASDAQ Share Volume (in billions)		246			299			233			219			225			213			250			206			186
JP Morgan G7 Currency Volatility Index-daily average		11.93			12.92			12.07			12.46			11.07			11.21			12.60			12.95			10.39

(a) Excludes securities lending cash management assets.

(b) Represents the securities on loan managed by the Investment Services business.

(c) Period end.

Page 7 of 14

THE BANK OF NEW YORK MELLON CORPORATION

ASSETS UNDER MANAGEMENT NET FLOWS - 9 Quarter Trend

	2010										2011											2012
(dollar amounts in billions )	1st Qtr			2nd Qtr			3rd Qtr		4th Qtr		1st Qtr			2nd Qtr			3rd Qtr			4th Qtr		1st Qtr
Market value of assets under management at beginning of period	$	1,115		$	1,105		$	1,047	$	1,141	$	1,172		$	1,229		$	1,274		$	1,198	$	1,260
Net Flows
Long-term		16			12			11		9		31			32			4			16		7
Money market		(25	)		(17	)		18		6		(5	)		(1	)		(15	)		7		(9	)
Total net flows		(9	)		(5	)		29		15		26			31			(11	)		23		(2	)
Net Market and currency impact/other		(1	)		(53	)		65		16		31			14			(65	)		39		50
Market value of assets under management at end of period (a)	$	1,105		$	1,047		$	1,141	$	1,172	$	1,229		$	1,274		$	1,198		$	1,260	$	1,308

(a) Excludes securities lending cash management assets.

Page 8 of 14

THE BANK OF NEW YORK MELLON CORPORATION

BUSINESSES

INVESTMENT MANAGEMENT - 9 Quarter Trend

	2010												2011												2012
(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
Revenue:
Investment management:
Mutual funds		249			254			270			293			283			290			263			237			260
Institutional clients		280			279			282			300			319			319			311			299			322
Wealth management fees		159			153			153			157			164			163			157			154			157
Performance fees		13			19			16			75			17			18			11			47			16
Total investment management revenue		701			705			721			825			783			790			742			737			755
Distribution and servicing		47			49			53			52			51			48			41			41			45
Other fee revenue (a)		21			9			17			17			34			24			(26	)		(11	)		52
Total fee and other revenue		769			763			791			894			868			862			757			767			852
Net interest revenue		52			53			49			51			52			48			51			55			55
Total revenue		821			816			840			945			920			910			808			822			907
Provision for credit losses		—			—			1			2			—			1			—			—			—
Noninterest expenses (ex. intangible amortization)		565			594			621			664			627			641			622			632			619
Income before taxes (ex. intangible amortization)		256			222			218			279			293			268			186			190			288
Amortization of intangible assets		59			59			58			61			55			53			53			53			48
Income before taxes		197			163			160			218			238			215			133			137			240
Average assets	$	33,800		$	33,941		$	36,194		$	37,645		$	37,315		$	36,741		$	36,949		$	37,163		$	36,475
Market value of assets under management at period-end (in billions) (b)	$	1,105		$	1,047		$	1,141		$	1,172		$	1,229		$	1,274		$	1,198		$	1,260		$	1,308
Pre-tax operating margin
GAAP		24	%		20	%		19	%		23	%		26	%		24	%		16	%		17	%		26	%
Non-GAAP (ex. intangible amortization and net distribution and servicing expense) (c)		35	%		31	%		29	%		33	%		36	%		33	%		26	%		26	%		36	%

(a) Other revenue includes asset servicing and treasury services revenue.

(b) Excludes securities lending cash management assets.

(c) Distribution and servicing expense totaled $88 million, $90 million, $94 million, and $104 million, respectively, for the quarters of 2010 and $110 million, $108 million, $99 million and $95 million, respectively, for the quarters of 2011 and $100 million for the first quarter of 2012.

Page 9 of 14

THE BANK OF NEW YORK MELLON CORPORATION

BUSINESSES

INVESTMENT SERVICES - 9 Quarter Trend

	2010												2011												2012
(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
Revenue:
Investment services fees
Asset servicing fees—ex. securities lending		584			595			813			855			863			891			862			823			876
Securities lending revenue		24			30			26			26			27			52			32			35			39
Issuer services		283			298			318			360			292			314			401			245			251
Clearing services		230			245			252			278			292			292			297			278			303
Treasury services		130			124			138			134			133			134			132			133			136
Total investment services fees		1,251			1,292			1,547			1,653			1,607			1,683			1,724			1,514			1,605
Foreign Exchange and other trading revenue		227			251			186			232			209			203			236			196			176
Other fee revenue (a)		64			117			87			78			73			81			68			71			73
Total fee and other revenue (a)		1,542			1,660			1,820			1,963			1,889			1,967			2,028			1,781			1,854
Net interest revenue		629			586			570			578			621			650			661			634			644
Total revenue (b)		2,171			2,246			2,390			2,541			2,510			2,617			2,689			2,415			2,498
Provision for credit losses		—			—			—			—			—			—			—			—			16
Noninterest expenses (ex. intangible amortization) (b)		1,358			1,457			1,576			1,697			1,702			1,775			1,851			1,706			1,781
Income before taxes (ex. intangible amortization)		813			789			814			844			808			842			838			709			701
Amortization of intangible assets		35			35			48			50			50			50			49			50			48
Income before taxes		778			754			766			794			758			792			789			659			653
Average loans	$	14,273		$	17,053		$	17,941		$	19,053		$	20,554		$	22,891		$	22,879		$	26,804		$	25,902
Average assets	$	150,826		$	151,915		$	158,110		$	176,722		$	176,162		$	191,756		$	220,930		$	228,668		$	215,899
Average deposits	$	120,322		$	120,394		$	123,298		$	137,964		$	139,342		$	153,863		$	181,848		$	188,539		$	176,811
Pre-tax operating margin
GAAP		36	%		34	%		32	%		31	%		30	%		30	%		29	%		27	%		26	%
Non-GAAP adjusted (excluding intangible amortization)		37	%		35	%		34	%		33	%		32	%		32	%		31	%		29	%		28	%
Market value of assets under custody and administration at period-end (in trillions)	$	22.4		$	21.8		$	24.4		$	25.0		$	25.5		$	26.3		$	25.9		$	25.8		$	26.6
Market value of securities on loan at period-end (in billions) (c)	$	253		$	248		$	279		$	278		$	278		$	273		$	250		$	269		$	265

Note: On December 31, 2011, BNY Mellon sold its Shareowner Services business. In the first quarter of 2012, we reclassified the results of the Shareowner Services business from the Investment Services business to the Other segment. The reclassification did not impact the consolidated results. All prior periods have been restated.

(a) Total fee and other revenue includes investment management fees and distribution and servicing revenue.

(b) On July 1, 2010 and August 2, 2010 the GIS and BAS acquisitions were completed.

(c) Represents the securities on loan managed by the Investment Services business.

Page 10 of 14

THE BANK OF NEW YORK MELLON CORPORATION

BUSINESSES

OTHER-9 Quarter Trend

	2010												2011												2012
(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
Revenue:
Fee and other revenue		259			164			106			160			147			269			121			240			164
Net interest revenue		84			83			99			91			25			33			63			91			66
Total revenue		343			247			205			251			172			302			184			331			230
Provision for credit losses		35			20			(23	)		(24	)		—			(1	)		(22	)		23			(11	)
Noninterest expenses (ex. special litigation reserves, intangible amortization, M&I expenses and restructuring charges)		223			168			232			263			249			274			180			245			251
Income before taxes (ex. special litigation reserves, intangible amortization, M&I expenses and restructuring charges)		85			59			(4	)		12			(77	)		29			26			63			(10	)
Amortization of intangible assets		3			4			5			4			3			5			4			3			—
Special Litigation Reserves		164			N/A			N/A			N/A			N/A			N/A			N/A			N/A			N/A
Restructuring charges		7			(15	)		15			21			(6	)		(7	)		(5	)		107			(9	)
Merger & integration expenses		26			14			56			43			17			25			17			32			18
Income before taxes		(115	)		56			(80	)		(56	)		(91	)		6			10			(79	)		(19	)
Average loans and leases	$	13,639		$	13,261		$	12,308		$	11,808		$	11,187		$	10,553		$	10,652		$	10,223		$	9,885
Average assets	$	39,891		$	42,725		$	45,774		$	41,819		$	44,221		$	49,983		$	53,584		$	50,243		$	48,970

Note: On December 31, 2011, BNY Mellon sold its Shareowner Services business. In the first quarter of 2012, we reclassified the results of the Shareowner Services business from the Investment Services business to the Other segment. The reclassification did not impact the consolidated results. All prior periods have been restated.

Page 11 of 14

THE BANK OF NEW YORK MELLON CORPORATION

BUSINESSES

(dollar amounts in millions unless otherwise noted)	Investment Management									Investment Services									Other									Consolidated Results
	2011			2010			2009			2011			2010			2009			2011			2010			2009			2011 (b)			2010 (b)			2009
Revenue:
Investment services fees
Asset servicing		112			122			113			3,585			2,953			2,459			—			1			1			3,697			3,076			2,573
Issuer services		—			—			—			1,252			1,259			1,235			193			201			228			1,445			1,460			1,463
Clearing services		—			—			—			1,159			1,005			958			—			—			4			1,159			1,005			962
Treasury services		2			3			3			532			526			515			1			1			1			535			530			519
Total investment services fees		114			125			116			6,528			5,743			5,167			194			203			234			6,836			6,071			5,517
Investment management fees		2,959			2,829			2,541			53			37			30			3			4			13			3,015			2,870			2,584
Performance fees		93			123			93			1			—			—			—			—			—			94			123			93
Foreign exchange and other trading revenue		—			10			3			844			896			1,081			4			(20	)		(48	)		848			886			1,036
Distribution and servicing		181			201			279			6			8			54			—			1			(7	)		187			210			326
Financing-related fees		6			6			10			46			47			49			118			142			156			170			195			215
Investment and other income		(100	)		(89	)		(165	)		187			254			289			411			344			213			498			509			337
Total fee revenue		3,253			3,205			2,877			7,665			6,985			6,670			730			674			561			11,648			10,864			10,108
Net Securities gains (losses)		1			12			(76	)		—			—			—			47			15			(5,293	)		48			27			(5,369	)
Total fee and other revenue		3,254			3,217			2,801			7,665			6,985			6,670			777			689			(4,732	)		11,696			10,891			4,739
Net interest revenue (expense)		206			205			242			2,566			2,363			2,242			212			357			431			2,984			2,925			2,915
Total revenue		3,460			3,422			3,043			10,231			9,348			8,912			989			1,046			(4,301	)		14,680			13,816			7,654
Provision for credit losses		1			3			1			—			—			—			—			8			331			1			11			332
Noninterest expenses (ex. M&I expenses and intangible amortization)		2,522			2,444			2,221			7,034			6,088			5,473			1,037			1,078			1,177			10,593			9,610			8,871
Income before taxes and extraordinary (loss) (ex. M&I expenses and intangible amortization)		937			975			821			3,197			3,260			3,439			(48	)		(40	)		(5,809	)		4,086			4,195			(1,549	)
Amortization of intangible assets		214			237			264			199			168			146			15			16			16			428			421			426
Merger & integration expense		—			—			—			—			—			—			91			139			233			91			139			233
Income before taxes, noncontrolling interest and extraordinary (loss)		723			738			557			2,998			3,092			3,293			(154	)		(195	)		(6,058	)		3,567			3,635			(2,208	)
Average loans	$	6,970		$	6,461		$	5,821		$	23,298		$	17,096		$	13,754		$	10,651		$	12,748		$	16,849		$	40,919		$	36,305		$	36,424
Average assets	$	37,041		$	35,408		$	21,836		$	204,569		$	158,675		$	151,005		$	49,535		$	43,353		$	37,098		$	291,145		$	237,436		$	209,939
Average deposits	$	10,113		$	8,240		$	6,788		$	166,076		$	124,969		$	120,494		$	6,490		$	6,229		$	7,370		$	182,679		$	139,438		$	134,652
Market value of assets under management at period-end (in billions)	$	1,260		$	1,172		$	1,115		$	—		$	—		$	—		$	—		$	—		$	—		$	1,260		$	1,172		$	1,115
Market value of assets under custody and administration at period-end (in trillions)	$	—		$	—		$	—		$	25.8		$	25.0		$	22.3		$	—		$	—		$	—		$	25.8		$	25.0		$	22.3
Market value of securities on loan at period-end (in billions)	$	—		$	—		$	—		$	269		$	278		$	247		$	—		$	—		$	—		$	269		$	278		$	247
Pre-tax operating margin-GAAP		21	%		22	%		18	%		29	%		33	%		37	%		n/m			n/m			n/m			24	%		26	%		n/m
Pre-tax operating margin (ex. intangible amortization)-Non-GAAP		27	%		28	%		27	%		31	%		35	%		39	%		n/m			n/m			n/m			27	%		29	%		n/m
Pre-tax operating margin-Non-GAAP (a)		27	%		29	%		30	%		31	%		35	%		42	%		n/m			n/m			n/m			28	%		32	%		31	%
Memo:
Securities Lending Revenue																													183			150			259

Note: On December 31, 2011, BNY Mellon sold its Shareowner Services business. In the first quarter of 2012, we reclassified the results of the Shareowner Services business from the Investment Services business to the Other segment. The reclassification did not impact the consolidated results. All prior periods have been restated.

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

(b) Total fee and other revenue and income before taxes for the years 2010 and 2011 includes income from consolidated investment management funds of $226 million and $200 million, respectively, net of income attributable to noncontrolling interests of $59 million and $50 million, respectively. The net of these income statement line items of $167 million and $150 million, respectively, are included above in fee and other revenue.

n/m - not meaningful

Note: See pages 9-11 for details of revenue/expense items impacting respective business results.

Page 12 of 14

THE BANK OF NEW YORK MELLON CORPORATION

CONTINUING OPERATIONS - 9 Quarter Trend

NONPERFORMING ASSETS

	2010												2011												2012
(dollar amounts in millions)	1st Qtr			2nd Qtr			3rd Qtr			4th Qtr			1st Qtr			2nd Qtr			3rd Qtr			4th Qtr			1st Qtr
Loans:
Other residential mortgages	$	204		$	229		$	238		$	244		$	245		$	236		$	228		$	203		$	188
Wealth Management		58			62			66			59			56			31			32			32			35
Commercial real estate		50			49			39			44			36			28			28			40			39
Commercial		40			40			35			34			32			31			21			21			32
Foreign		7			7			—			7			7			13			13			10			10
Financial Institutions		95			13			16			5			4			4			12			23			14
Total nonperforming loans		454			400			394			393			380			343			334			329			318
Other assets owned		5			6			7			6			6			8			10			12			13
Total nonperforming assets (a)	$	459		$	406		$	401		$	399		$	386		$	351		$	344		$	341		$	331
Nonperforming assets ratio		1.35	%		1.09	%		1.06	%		1.06	%		0.96	%		0.83	%		0.76	%		0.78	%		0.77	%
Nonperforming assets ratio excluding margin loans		1.58	%		1.29	%		1.26	%		1.29	%		1.26	%		1.08	%		0.98	%		1.09	%		1.11	%
Allowance for loan losses/nonperforming loans		114.5			135.5			135.5			126.7			122.9			128.6			117.4			119.8			121.4
Allowance for loan losses/nonperforming assets		113.3			133.5			133.2			124.8			121.0			125.6			114.0			115.5			116.6
Total allowance for credit losses/nonperforming loans		140.5			161.3			154.3			145.3			145.8			156.0			149.1			151.1			155.3
Total allowance for credit losses/nonperforming assets		139.0			158.9			151.6			143.1			143.5			152.4			144.8			145.7			149.2

(a) Loans of consolidated investment management funds are not part of BNY Mellon’s loan portfolio. Included in these loans are nonperforming loans for the 1st, 2nd, 3rd and 4th quarters of 2010 of $150 million, $131 million, $231 million and $218 million, respectively, and for 1st, 2nd, 3rd and 4th quarters of 2011 of $239 million, $216 million, $265 million, and $101 million, respectively, and for the 1st quarter of 2012 $180 million. These loans are recorded at fair value and therefore do not impact the provision for credit losses and allowance for loan losses, and accordingly are excluded from the nonperforming assets table above.

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THE BANK OF NEW YORK MELLON CORPORATION

CONTINUING OPERATIONS - 9 Quarter Trend

ALLOWANCE FOR CREDIT LOSSES, PROVISION AND NET CHARGE-OFFS

	2010												2011												2012
(dollar amounts in millions)	1st Qtr			2nd Qtr			3rd Qtr			4th Qtr			1st Qtr			2nd Qtr			3rd Qtr			4th Qtr			1st Qtr
Allowance for credit losses:
Allowance for credit losses	$	503		$	520		$	542		$	534		$	498		$	467		$	441		$	392		$	394
Allowance for unfunded commitments		125			118			103			74			73			87			94			106			103
Allowance for credit losses—beginning of period		628			638			645			608			571			554			535			498			497
Net (charge-offs)/recoveries
Charge-offs		(37	)		(14	)		(17	)		(17	)		(19	)		(21	)		(17	)		(25	)		(10	)
Recoveries		12			1			2			2			2			2			2			1			2
Total Net (charge-offs)/recoveries		(25	)		(13	)		(15	)		(15	)		(17	)		(19	)		(15	)		(24	)		(8	)
Provision for credit losses		35			20			(22	)		(22	)		—			—			(22	)		23			5
Allowance for credit losses—end of period		638			645			608			571			554			535			498			497			494
Allowance for loan losses	$	520		$	542		$	534		$	498		$	467		$	441		$	392		$	394		$	386
Allowance for unfunded commitments		118			103			74			73			87			94			106			103			108
Allowance for credit losses—end of period (a)		638			645			608			571			554			535			498			497			494
Allowance for loan losses as a percentage of total loans		1.54	%		1.46	%		1.41	%		1.32	%		1.17	%		1.05	%		0.87	%		0.90	%		0.90	%

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