Net interest revenue (Tables)

9 Months Ended

Sep. 30, 2020

Interest Revenue (Expense), Net [Abstract]

Components of 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)	Sept. 30, 2020		June 30, 2020		Sept. 30, 2019			Sept. 30, 2020		Sept. 30, 2019
Interest revenue
Deposits with the Federal Reserve and other central banks	$	(10)	$	(7)	$	102		$	63	$	354
Deposits with banks	20		40		73			118		200
Federal funds sold and securities purchased under resale agreements	48		61		660			505		1,702
Margin loans	41		40		104			168		358
Non-margin loans	199		230		287		(a)	738		1,007		(a)
Securities:
Taxable	499		556		669			1,649		2,062
Exempt from federal income taxes	7		6		7			19		29
Total securities	506		562		676			1,668		2,091
Trading securities	16		17		40			73		115
Total interest revenue	820		943		1,942			3,333		5,827
Interest expense
Deposits	(29)		(17)		437			194		1,260
Federal funds purchased and securities sold under repurchase agreements	6		1		443			282		1,146
Trading liabilities	2		2		8			11		26
Other borrowed funds	3		7		10			14		54
Commercial paper	—		1		22			7		48
Customer payables	—		(1)		59			29		198
Long-term debt	135		170		233			499		722
Total interest expense	117		163		1,212			1,036		3,454
Net interest revenue	703		780		730			2,297		2,373
Provision for credit losses	9		143		(16)			321		(17)
Net interest revenue after provision for credit losses	$	694	$	637	$	746		$	1,976	$	2,390

(a)    Includes the impact of a lease-related impairment of $70 million.