Net interest revenue

6 Months Ended

Jun. 30, 2020

Interest Revenue (Expense), Net [Abstract]

Net interest revenue

Net interest revenue

The following table provides the components of net interest revenue presented on the consolidated income statement.

Net interest revenue	Quarter ended								Year-to-date
(in millions)	June 30, 2020			March 31, 2020		June 30, 2019			June 30, 2020		June 30, 2019
Interest revenue
Deposits with the Federal Reserve and other central banks	$	(7	)	$	80	$	113		$	73	$	252
Deposits with banks	40			58		64			98		127
Federal funds sold and securities purchased under resale agreements	61			396		568			457		1,042
Margin loans	40			87		119			127		254
Non-margin loans	230			309		365			539		720
Securities:
Taxable	556			594		687			1,150		1,393
Exempt from federal income taxes	6			6		10			12		22
Total securities	562			600		697			1,162		1,415
Trading securities	17			40		39			57		75
Total interest revenue	943			1,570		1,965			2,513		3,885
Interest expense
Deposits	(17		)	240		432			223		823
Federal funds purchased and securities sold under repurchase agreements	1			275		372			276		703
Trading liabilities	2			7		11			9		18
Other borrowed funds	7			4		20			11		44
Commercial paper	1			6		18			7		26
Customer payables	(1		)	30		69			29		139
Long-term debt	170			194		241			364		489
Total interest expense	163			756		1,163			919		2,242
Net interest revenue	780			814		802			1,594		1,643
Provision for credit losses	143			169		(8		)	312		(1		)
Net interest revenue after provision for credit losses	$	637		$	645	$	810		$	1,282	$	1,644