Net interest revenue

9 Months Ended

Sep. 30, 2021

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)	Sept. 30, 2021		June 30, 2021		Sept. 30, 2020		Sept. 30, 2021		Sept. 30, 2020
Interest revenue
Deposits with the Federal Reserve and other central banks	$	(21)	$	(25)	$	(10)	$	(62)	$	63
Deposits with banks	12		11		20		37		118
Federal funds sold and securities purchased under resale agreements	32		25		48		89		505
Margin loans	52		49		41		146		168
Non-margin loans	186		188		199		559		738
Securities:
Taxable	413		415		499		1,278		1,649
Exempt from federal income taxes	11		11		7		31		19
Total securities	424		426		506		1,309		1,668
Trading securities	8		11		16		38		73
Total interest revenue	693		685		820		2,116		3,333
Interest expense
Deposits	(44)		(49)		(29)		(130)		194
Federal funds purchased and securities sold under repurchase agreements	2		(5)		6		(6)		282
Trading liabilities	1		2		2		6		11
Other borrowed funds	3		1		3		6		14
Commercial paper	—		—		—		—		7
Customer payables	(1)		—		—		(2)		29
Long-term debt	91		91		135		301		499
Total interest expense	52		40		117		175		1,036
Net interest revenue	641		645		703		1,941		2,297
Provision for credit losses	(45)		(86)		9		(214)		321
Net interest revenue after provision for credit losses	$	686	$	731	$	694	$	2,155	$	1,976