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Net interest revenue (Details) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2020
Mar. 31, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 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] (1) [1]
Net interest revenue after provision for credit losses $ 637 $ 645 $ 810 $ 1,282 $ 1,644
[1]
In the first quarter of 2020, we adopted new accounting guidance included in ASU 2016-13, Financial Instruments – Credit Losses: Measurement of Credit Losses on Financial Instruments, on a prospective basis. See Note 2 of the Notes to Consolidated Financial Statements for additional information.