10-Q

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

For the Quarterly Period Ended September 30, 2022

or

☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Commission File Number 001-35651

THE BANK OF NEW YORK MELLON CORPORATION

(Exact name of registrant as specified in its charter)

Delaware	13-2614959
(State or other jurisdiction of incorporation or organization)	(I.R.S. Employer Identification No.)

240 Greenwich Street

New York, New York 10286

(Address of principal executive offices) (Zip Code)

Registrant’s telephone number, including area code – (212) 495-1784

Not Applicable

(Former name, former address and former fiscal year, if changed since last report)

Securities registered pursuant to Section 12(b) of the Act:
Title of each class	Trading symbol(s)	Name of each exchange on which registered
Common Stock, $0.01 par value	BK	New York Stock Exchange
6.244% Fixed-to-Floating Rate Normal Preferred Capital Securities of Mellon Capital IV	BK/P	New York Stock Exchange
(fully and unconditionally guaranteed by The Bank of New York Mellon Corporation)

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒    No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒    No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer	☒	Accelerated filer	☐
Non-accelerated filer	☐	Smaller reporting company	☐
		Emerging growth company	☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐    No ☒

As of Sept. 30, 2022, 808,279,949 shares of the registrant’s common stock, $0.01 par value per share, were outstanding.

THE BANK OF NEW YORK MELLON CORPORATION

Third Quarter 2022 Form 10-Q

Table of Contents 

	Page
Consolidated Financial Highlights (unaudited)	2
Part I – Financial Information
Items 2. and 3. Management’s Discussion and Analysis of Financial Condition and Results of Operations; Quantitative and Qualitative Disclosures about Market Risk:
General	4
Overview	4
Key third quarter 2022 and subsequent events	4
Highlights of third quarter 2022 results	5
Fee and other revenue	7
Net interest revenue	11
Noninterest expense	14
Income taxes	14
Review of business segments	15
Critical accounting estimates	23
Consolidated balance sheet review	24
Liquidity and dividends	33
Capital	37
Trading activities and risk management	41
Asset/liability management	43
Supplemental information – Explanation of GAAP and Non-GAAP financial measures	45
Recent accounting and regulatory developments	49
Other matters	49
Website information	50
Item 1. Financial Statements:
Consolidated Income Statement (unaudited)	51
Consolidated Comprehensive Income Statement (unaudited)	53
Consolidated Balance Sheet (unaudited)	54
Consolidated Statement of Cash Flows (unaudited)	55
Consolidated Statement of Changes in Equity (unaudited)	56

	Page
Notes to Consolidated Financial Statements:
Note 1—Basis of presentation	59
Note 2—New accounting guidance	59
Note 3—Acquisitions and dispositions	59
Note 4—Securities	59
Note 5—Loans and asset quality	65
Note 6—Goodwill and intangible assets	72
Note 7—Other assets	74
Note 8—Contract revenue	75
Note 9—Net interest revenue	78
Note 10—Employee benefit plans	79
Note 11—Income taxes	79
Note 12—Variable interest entities	80
Note 13—Preferred stock	81
Note 14—Other comprehensive income (loss)	82
Note 15—Fair value measurement	83
Note 16—Fair value option	88
Note 17—Derivative instruments	88
Note 18—Commitments and contingent liabilities	95
Note 19—Business segments	101
Note 20—Supplemental information to the Consolidated Statement of Cash Flows	103
Item 4. Controls and Procedures	104
Forward-looking Statements	105
Part II – Other Information
Item 1. Legal Proceedings.	107
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds.	107
Item 6. Exhibits.	107
Index to Exhibits	108
Signature	110

The Bank of New York Mellon Corporation (and its subsidiaries)

Consolidated Financial Highlights (unaudited)

	Quarter ended									Year-to-date
(dollars in millions, except per share amounts and unless otherwise noted)	Sept. 30, 2022			June 30, 2022			Sept. 30, 2021			Sept. 30, 2022			Sept. 30, 2021
Results applicable to common shareholders of The Bank of New York Mellon Corporation:
Net income	$	319		$	835		$	881		$	1,853		$	2,730
Basic earnings per share	$	0.39		$	1.03		$	1.04		$	2.29		$	3.15
Diluted earnings per share	$	0.39		$	1.03		$	1.04		$	2.28		$	3.14
Fee and other revenue	$	3,353		$	3,430		$	3,394		$	10,011		$	9,975
Net interest revenue	926			824			641			2,448			1,941
Total revenue	$	4,279		$	4,254		$	4,035		$	12,459		$	11,916
Return on common equity (annualized)	3.5		%	9.3		%	8.8		%	6.8		%	9.1		%
Return on tangible common equity (annualized) – Non-GAAP (a)	7.5		%	19.2		%	16.8		%	14.0		%	17.1		%
Fee revenue as a percentage of total revenue	76		%	78		%	81		%	78		%	82		%
Non-U.S. revenue as a percentage of total revenue	35		%	36		%	38		%	35		%	38		%
Pre-tax operating margin	15		%	26		%	29		%	21		%	30		%
Net interest margin	1.05		%	0.89		%	0.67		%	0.89		%	0.67		%
Net interest margin on a fully taxable equivalent (“FTE”) basis – Non-GAAP (b)	1.05		%	0.89		%	0.68		%	0.90		%	0.67		%
Assets under custody and/or administration (“AUC/A”) at period end (in trillions) (c)	$	42.2		$	43.0		$	45.3		$	42.2		$	45.3
Assets under management (“AUM”) at period end (in billions) (d)	$	1,776		$	1,937		$	2,310		$	1,776		$	2,310
Average common shares and equivalents outstanding (in thousands):
Basic	811,304			810,903			844,088			810,703			865,374
Diluted	814,516			813,590			849,028			814,214			869,324
Selected average balances:
Interest-earning assets	$	352,062		$	370,782		$	381,065		$	365,279		$	388,823
Total assets	$	415,670		$	437,623		$	446,761		$	431,074		$	453,106
Interest-bearing deposits	$	203,659		$	219,124		$	233,363		$	215,271		$	239,272
Noninterest-bearing deposits	$	84,804		$	91,893		$	85,581		$	88,952		$	84,945
Long-term debt	$	28,449		$	26,195		$	25,751		$	26,754		$	25,740
Preferred stock	$	4,838		$	4,838		$	4,541		$	4,838		$	4,541
Total The Bank of New York Mellon Corporation common shareholders’ equity	$	35,942		$	36,199		$	39,755		$	36,483		$	40,286
Other information at period end:
Cash dividends per common share	$	0.37		$	0.34		$	0.34		$	1.05		$	0.96
Common dividend payout ratio	95		%	33		%	34		%	46		%	31		%
Common dividend yield (annualized)	3.8		%	3.3		%	2.6		%	3.6		%	2.5		%
Closing stock price per common share	$	38.52		$	41.71		$	51.84		$	38.52		$	51.84
Market capitalization	$	31,135		$	33,706		$	42,811		$	31,135		$	42,811
Book value per common share	$	43.18		$	44.73		$	47.30		$	43.18		$	47.30
Tangible book value per common share – Non-GAAP (a)	$	21.55		$	22.02		$	24.88		$	21.55		$	24.88
Full-time employees	51,100			50,800			48,900			51,100			48,900
Common shares outstanding (in thousands)	808,280			808,103			825,821			808,280			825,821

2 BNY Mellon

Consolidated Financial Highlights (unaudited) (continued)

Regulatory capital and other ratios	Sept. 30, 2022		June 30, 2022		Dec. 31, 2021
Average liquidity coverage ratio (“LCR”)	116	%	111	%	109	%
Regulatory capital ratios: (e)
Advanced:
Common Equity Tier 1 (“CET1”) ratio	10.1	%	10.0	%	11.4	%
Tier 1 capital ratio	13.0		12.8		14.2
Total capital ratio	13.7		13.6		15.0
Standardized:
CET1 ratio	10.0	%	10.1	%	11.2	%
Tier 1 capital ratio	12.8		12.9		14.0
Total capital ratio	13.7		13.8		14.9
Tier 1 leverage ratio	5.4	%	5.2	%	5.5	%
Supplementary leverage ratio (“SLR”)	6.3		6.2		6.6
BNY Mellon shareholders’ equity to total assets ratio	9.3	%	9.1	%	9.7	%
BNY Mellon common shareholders’ equity to total assets ratio	8.2		8.0		8.6

(a)    Return on tangible common equity and tangible book value per common share, Non-GAAP measures, exclude goodwill and intangible assets, net of deferred tax liabilities. See “Supplemental information – Explanation of GAAP and Non-GAAP financial measures” beginning on page 45 for the reconciliation of Non-GAAP measures.

(b)    See “Net interest revenue” on page 11 for a reconciliation of this Non-GAAP measure.

(c)    Consists of AUC/A primarily from the Asset Servicing line of business and, to a lesser extent, the Clearance and Collateral Management, Issuer Services, Pershing and Wealth Management lines of business. Includes the AUC/A of CIBC Mellon Global Securities Services Company (“CIBC Mellon”), a joint venture with the Canadian Imperial Bank of Commerce, of $1.4 trillion at Sept. 30, 2022, $1.5 trillion at June 30, 2022 and $1.7 trillion at Sept. 30, 2021.

(d)    Excludes assets managed outside of the Investment and Wealth Management business segment.

(e)    For our CET1, Tier 1 capital and Total capital ratios, our effective capital ratios under U.S. capital rules are the lower of the ratios as calculated under the Standardized and Advanced Approaches. For additional information on our capital ratios, see “Capital” beginning on page 37.

BNY Mellon 3

Part I – Financial Information

Items 2. and 3. Management’s Discussion and Analysis of Financial Condition and Results of Operations; Quantitative and Qualitative Disclosures about Market Risk

General

In this Quarterly Report on Form 10-Q, references to “our,” “we,” “us,” “BNY Mellon,” the “Company” and similar terms refer to The Bank of New York Mellon Corporation and its consolidated subsidiaries. The term “Parent” refers to The Bank of New York Mellon Corporation but not its subsidiaries.

Certain business terms used in this report are defined in the Glossary included in our Annual Report on Form 10-K for the year ended Dec. 31, 2021 (the “2021 Annual Report”).

The following should be read in conjunction with the Consolidated Financial Statements included in this report. Investors should also read the section titled “Forward-looking Statements.”

Overview

Established in 1784 by Alexander Hamilton, we were the first company listed on the New York Stock Exchange (NYSE: BK). With a history of more than 235 years, BNY Mellon is a global company dedicated to helping its clients manage and service their financial assets throughout the investment life cycle. Whether providing financial services for institutions, corporations or individual investors, BNY Mellon delivers informed investment and wealth management and investment services in 35 countries.

BNY Mellon has three business segments, Securities Services, Market and Wealth Services and Investment and Wealth Management, which offer a comprehensive set of capabilities and deep expertise across the investment lifecycle, enabling the Company to provide solutions to buy-side and sell-side market participants, as well as leading institutional and wealth management clients globally.

The diagram below presents our three business segments and lines of business, with the remaining operations in the Other segment.

Key third quarter 2022 and subsequent events

Alcentra

On Nov. 1, 2022, we completed the sale of BNY Alcentra Group Holdings, Inc. (together with its subsidiaries, “Alcentra”). At Sept. 30, 2022, Alcentra had $32 billion in AUM concentrated in senior secured loans, high yield bonds, private credit, structured credit, special situations and multi-strategy credit strategies.

Leadership succession

In July 2022, we announced that Dermot McDonogh was appointed to the position of Chief Financial Officer (“CFO”), effective Feb. 1, 2023, succeeding Emily Portney, who has served in that role since July 19, 2020. Mr. McDonogh joined BNY Mellon on Nov. 1, 2022. Ms. Portney will continue serving as CFO through Jan. 31, 2023, at which time she will assume a new position leading the Company’s Treasury Services, Credit Services and Clearance & Collateral Management businesses.

4 BNY Mellon

Mr. McDonogh most recently served as the chief operating officer of the Europe, Middle East and Africa region for Goldman Sachs International and as the chief executive officer of Goldman Sachs International Bank since 2015.

Increase in cash dividend on common stock

In July, our Board of Directors approved a 9% increase in the quarterly cash dividend on common stock, from $0.34 to $0.37 per share.

Goodwill impairment

In the third quarter of 2022, we recorded a $680 million impairment of the goodwill associated with the Investment Management reporting unit, which was driven by lower market values and a higher discount rate. This goodwill impairment represents a non-cash charge and did not affect BNY Mellon’s liquidity position, tangible common equity or regulatory capital ratios. See “Critical accounting estimates” for additional information.

Highlights of third quarter 2022 results

Net income applicable to common shareholders was $319 million, or $0.39 per diluted common share, in the third quarter of 2022, including the impact of notable items. Notable items in the third quarter of 2022 include goodwill impairment in the Investment Management reporting unit, a disposal gain (reflected in investment and other revenue), severance expense and litigation reserves. Excluding notable items, net income applicable to common shareholders was $983 million (Non-GAAP), or $1.21 (Non-GAAP) per diluted common share, in the third quarter of 2022. Net income applicable to common shareholders was $881 million, or $1.04 per diluted common share, in the third quarter of 2021, including the impact of notable items. Notable items in the third quarter of 2021 include litigation reserves, gains on disposals (reflected in investment and other revenue) and severance expense. Excluding notable items, net income applicable to common shareholders was $926 million (Non-GAAP), or $1.09 (Non-GAAP) per diluted common share, in the third quarter of 2021.

The highlights below are based on the third quarter of 2022 compared with the third quarter of 2021, unless otherwise noted.

•Total revenue of $4.3 billion increased 6%, primarily reflecting:

•Fee and other revenue decreased 1%, primarily reflecting:

•Fee revenue decreased 1%, primarily reflecting lower market values, the unfavorable impact of a stronger U.S. dollar, the impact of lost business in the prior year in both Pershing and Corporate Trust and an unfavorable change in the mix of AUM, partially offset by lower money market fee waivers and higher client activity. (See “Fee and other revenue” beginning on page 7.)

•Investment and other revenue decreased primarily reflecting strategic equity investment gains recorded in the third quarter of 2021, partially offset by higher other trading revenue and higher disposal gains. (See “Fee and other revenue” beginning on page 7.)

•Net interest revenue increased 44%, primarily reflecting higher interest rates on interest-earning assets, partially offset by higher funding expense and lower interest-earning assets. (See “Net interest revenue” on page 11.)

•Provision for credit losses was a benefit of $30 million, primarily reflecting reserve releases related to cash balances with exposure to Russia and a modest benefit from our commercial real estate portfolio. (See “Consolidated balance sheet review – Allowance for credit losses” beginning on page 31.)

•Noninterest expense increased 26%, primarily reflecting the goodwill impairment in the Investment Management reporting unit. Excluding notable items, noninterest expense increased 4% (Non-GAAP), primarily reflecting higher investments in growth, infrastructure and efficiency initiatives and higher revenue-related expenses, as well as the impact of inflation, partially offset by the favorable impact of a stronger U.S. dollar. (See “Noninterest expense” on page 14.)

•Effective tax rate of 38.4% or 19.5% (Non-GAAP) excluding notable items, primarily the goodwill impairment. (See “Income taxes” on page 14.)

•Return on common equity (“ROE”) was 3.5% for the third quarter of 2022. Excluding notable items, the adjusted ROE was 10.9% (Non-GAAP) for the third quarter of 2022.

BNY Mellon 5

•Return on tangible common equity (“ROTCE”) was 7.5% (Non-GAAP) for the third quarter of 2022. Excluding notable items, the adjusted ROTCE was 22.4% (Non-GAAP) for the third quarter of 2022.

See “Supplemental information – Explanation of GAAP and Non-GAAP financial measures” beginning on page 45 for a reconciliation of these Non-GAAP measures.

Metrics

•AUC/A of $42.2 trillion decreased 7%, primarily reflecting lower market values and the unfavorable impact of a stronger U.S. dollar, partially offset by client inflows and net new business.

•AUM of $1.8 trillion decreased 23%, primarily reflecting lower market values and the unfavorable impact of a stronger U.S. dollar, partially offset by net inflows.

Capital and liquidity

•Our CET1 ratio calculated under the Standardized Approach was 10.0% at Sept. 30, 2022 and 10.0% at June 30, 2022 under the Advanced Approaches, as unrealized losses on securities available-for-sale, foreign currency translation and capital deployed through dividends were offset by capital generated through earnings and lower risk-weighted assets (“RWA”). (See “Capital” beginning on page 37.)

•Tier 1 leverage was 5.4% at Sept. 30, 2022, compared with 5.2% at June 30, 2022. The increase was driven by lower average assets,

partially offset by the decrease in capital. (See “Capital” beginning on page 37.)

•Dividends to common shareholders were $303 million (including dividend-equivalents on share-based awards).

Highlights of our principal business segments

Securities Services

•Total revenue increased 13%.

•Income before income taxes increased 67%, or 32% (Non-GAAP) excluding notable items, primarily litigation reserves in 3Q21.

•Pre-tax operating margin of 25%.

Market and Wealth Services

•Total revenue increased 17%.

•Income before income taxes increased 21%.

•Pre-tax operating margin of 46%.

Investment and Wealth Management

•Total revenue decreased 16%.

•Income before income taxes decreased 243%, or 48% (Non-GAAP) excluding notable items.

•Pre-tax operating margin of (57)%; adjusted pre-tax operating margin – Non-GAAP of 24%.

See “Supplemental information – Explanation of GAAP and Non-GAAP financial measures” beginning on page 45 for a reconciliation of these Non-GAAP measure. See “Review of business segments” and Note 19 of the Notes to Consolidated Financial Statements for additional information on our business segments.

6 BNY Mellon

Fee and other revenue

Fee and other revenue																				YTD22
(dollars in millions, unless otherwise noted)										3Q22 vs.										vs.
	3Q22			2Q22			3Q21			2Q22		3Q21		YTD22			YTD21			YTD21
Investment services fees	$	2,157		$	2,206		$	2,091		(2)	%	3	%	$	6,356		$	6,223		2	%
Investment management and performance fees (a)	800			833			913			(4)		(12)		2,516			2,692			(7)
Foreign exchange revenue	203			222			185			(9)		10		632			600			5
Financing-related fees	43			44			48			(2)		(10)		132			147			(10)
Distribution and servicing fees	33			34			28			(3)		18		97			84			15
Total fee revenue	3,236			3,339			3,265			(3)		(1)		9,733			9,746			—
Investment and other revenue	117			91			129			N/M		N/M		278			229			N/M
Total fee and other revenue	$	3,353		$	3,430		$	3,394		(2)	%	(1)	%	$	10,011		$	9,975		—	%
Fee revenue as a percentage of total revenue	76		%	78		%	81		%					78		%	82		%
AUC/A at period end (in trillions) (b)	$	42.2		$	43.0		$	45.3		(2)	%	(7)	%	$	42.2		$	45.3		(7)	%
AUM at period end (in billions) (c)	$	1,776		$	1,937		$	2,310		(8)	%	(23)	%	$	1,776		$	2,310		(23)	%

(a)    Excludes seed capital gains (losses) related to consolidated investment management funds.

(b)    Consists of AUC/A primarily from the Asset Servicing line of business and, to a lesser extent, the Clearance and Collateral Management, Issuer Services, Pershing and Wealth Management lines of business. Includes the AUC/A of CIBC Mellon of $1.4 trillion at Sept. 30, 2022, $1.5 trillion at June 30, 2022 and $1.7 trillion at Sept. 30, 2021.

(c)    Excludes assets managed outside of the Investment and Wealth Management business segment.

N/M – Not meaningful.

Fee revenue decreased 1% compared with the third quarter of 2021 and 3% compared with the second quarter of 2022. The decrease compared with the third quarter of 2021 primarily reflects lower investment management and performance fees, partially offset by higher investment services fees and foreign exchange revenue. The decrease compared with the second quarter of 2022 primarily reflects lower investment services fees, investment management and performance fees and foreign exchange revenue.

Investment and other revenue decreased $12 million compared with the third quarter of 2021 and increased $26 million compared with the second quarter of 2022. The decrease compared with the third quarter of 2021 primarily reflects strategic equity investment gains recorded in the third quarter of 2021, partially offset by higher other trading revenue and higher disposal gains. The increase compared with the second quarter of 2022 primarily reflects a gain on disposal, higher other trading revenue and improved seed capital results, partially

offset by strategic equity investment gains recorded in the second quarter of 2022.

Money market fee waivers

In recent periods, low short-term interest rates resulted in money market mutual fund fees and other similar fees being waived to protect investors from negative returns. The fee waivers impacted fee revenues in most of our businesses, but also resulted in lower distribution and servicing expense. Money market fee waivers are highly sensitive to changes in short-term interest rates and are difficult to predict.

The following table presents the impact of money market fee waivers on our consolidated fee revenue, net of distribution and servicing expense. In the third quarter of 2022, the net impact of money market fee waivers was $22 million, down from $66 million in the second quarter of 2022, driven by higher interest rates.

BNY Mellon 7

Money market fee waivers
(in millions)	3Q22		2Q22		3Q21		YTD22		YTD21
Investment services fees (see table below)	$	(1)	$	(26)	$	(142)	$	(153)	$	(399)
Investment management and performance fees	(21)		(40)		(109)		(146)		(313)
Distribution and servicing fees	—		(2)		(11)		(13)		(37)
Total fee revenue	(22)		(68)		(262)		(312)		(749)
Less: Distribution and servicing expense	—		2		29		25		76
Net impact of money market fee waivers	$	(22)	$	(66)	$	(233)	$	(287)	$	(673)
Impact to investment services fees by line of business: (a)
Asset Servicing	$	—	$	—	$	(29)	$	(19)	$	(74)
Issuer Services	—		(1)		(17)		(12)		(44)
Pershing	(1)		(25)		(86)		(116)		(254)
Treasury Services	—		—		(10)		(6)		(27)
Total impact to investment services fees by line of business	$	(1)	$	(26)	$	(142)	$	(153)	$	(399)
Impact to fee revenue by line of business: (a)
Asset Servicing	$	—	$	(1)	$	(47)	$	(29)	$	(126)
Issuer Services	(1)		(1)		(22)		(16)		(59)
Pershing	(1)		(29)		(102)		(137)		(295)
Treasury Services	—		—		(13)		(8)		(38)
Investment Management	(20)		(37)		(76)		(120)		(222)
Wealth Management	—		—		(2)		(2)		(9)
Total impact to fee revenue by line of business	$	(22)	$	(68)	$	(262)	$	(312)	$	(749)

(a)    The line of business revenue for management reporting purposes reflects the impact of revenue transferred between the businesses.

Investment services fees

Investment services fees increased 3% compared with the third quarter of 2021 and decreased 2% compared with the second quarter of 2022. The increase compared with the third quarter of 2021 primarily reflects lower money market fee waivers and higher client activity, partially offset by lower market values, the impact of lost business in the prior year in Pershing and Corporate Trust and the unfavorable impact of a stronger U.S. dollar. The decrease compared with the second quarter of 2022 primarily reflects lower depositary receipts revenue, lower market values, and the unfavorable impact of a stronger U.S. dollar, partially offset by lower money market fee waivers.

AUC/A totaled $42.2 trillion at Sept. 30, 2022, a decrease of 7% compared with Sept. 30, 2021, primarily reflecting lower market values and the unfavorable impact of a stronger U.S. dollar, partially offset by client inflows and net new business.

AUC/A consisted of 33% equity securities and 67% fixed income securities at Sept. 30, 2022, and 37% equity securities and 63% fixed income securities at Sept. 30, 2021.

See “Securities Services business segment” and “Market and Wealth Services business segment” in “Review of business segments” for additional details.

Investment management and performance fees

Investment management and performance fees decreased 12% compared with the third quarter of 2021 and 4% compared with the second quarter of 2022. The decrease compared with the third quarter of 2021 primarily reflects lower market values, the unfavorable impact of a stronger U.S. dollar, an unfavorable change in the mix of AUM and lower equity income, partially offset by lower money market fee waivers. The decrease compared with the second quarter of 2022 primarily reflects lower market values, the unfavorable impact of a stronger U.S. dollar and lower equity income, partially offset by lower money market fee waivers. Performance fees were $10 million in the third quarter of 2022, $21 million in the third quarter of 2021 and $5 million in the second quarter of 2022. On a constant currency basis (Non-GAAP), investment management and performance fees decreased 8% compared with the third quarter of 2021. See “Supplemental information – Explanation of GAAP and Non-GAAP financial measures” beginning on page 45 for the reconciliation of Non-GAAP measures.

8 BNY Mellon

AUM was $1.8 trillion at Sept. 30, 2022, a decrease of 23% compared with Sept. 30, 2021, primarily reflecting lower market values and the unfavorable impact of a stronger U.S. dollar, partially offset by net inflows.

See “Investment and Wealth Management business segment” in “Review of business segments” for additional details regarding the drivers of investment management and performance fees, AUM and AUM flows.

Foreign exchange revenue

Foreign exchange revenue is primarily driven by the volume of client transactions and the spread realized on these transactions, both of which are impacted by market volatility, the impact of foreign currency hedging activities and foreign currency remeasurement gain (loss). Foreign exchange revenue increased 10% compared with the third quarter of 2021 and decreased 9% compared with the second quarter of 2022. The increase compared with the third quarter of 2021 primarily reflects higher volatility. The decrease compared with the second quarter of 2022 reflects lower volumes, partially offset by higher volatility. Foreign exchange revenue is primarily reported in the Securities Services business segment and, to a lesser extent, in the Market and Wealth Services and Investment and Wealth Management business segments and the Other segment.

Investment and other revenue

Investment and other revenue includes income or loss from consolidated investment management funds, seed capital gains or losses, other trading revenue or loss, renewable energy investments losses, income from corporate and bank-owned life insurance contracts, other investment gains or losses, gains or losses from disposals, expense reimbursements from our CIBC Mellon joint venture, other income or loss and net securities gains or losses. The income or loss from consolidated investment management funds should be considered together with the net income or loss attributable to noncontrolling interests, which reflects the portion of the consolidated funds for which we do not have an economic interest and is reflected below net income as a separate line item on the consolidated income statement. Other trading revenue or loss primarily includes the impact of market-risk hedging activity related to our seed capital investments in investment management funds, non-foreign currency derivative and fixed income trading, and other hedging activity. Investments in renewable energy generate losses in investment and other revenue that are more than offset by benefits and credits recorded to the provision for income taxes. Other investment gains or losses includes fair value changes of non-readily marketable equity securities, private equity and other investments. Expense reimbursements from our CIBC Mellon joint venture relate to expenses incurred by BNY Mellon on behalf of the CIBC Mellon joint venture. Other income or loss includes various miscellaneous revenues.

BNY Mellon 9

The following table provides the components of investment and other revenue.

Investment and other revenue
(in millions)	3Q22		2Q22		3Q21		YTD22		YTD21
(Loss) income from consolidated investment management funds	$	(7)	$	(24)	$	(7)	$	(51)	$	23
Seed capital (losses) gains (a)	(11)		(24)		7		(43)		28
Other trading revenue	65		45		20		115		12
Renewable energy investment (losses)	(44)		(44)		(42)		(132)		(164)
Corporate/bank-owned life insurance	32		28		33		93		95
Other investments gains (b)	13		78		70		152		104
Disposal gains	37		—		7		37		13
Expense reimbursements from joint venture	27		26		25		80		73
Other income	4		6		14		22		41
Net securities gains	1		—		2		5		4
Total investment and other revenue	$	117	$	91	$	129	$	278	$	229

(a)    Includes gains (losses) on investments in BNY Mellon funds which hedge deferred incentive awards.

(b)    Includes strategic equity, private equity and other investments.

Investment and other revenue was $117 million in the third quarter of 2022 compared with $129 million in the third quarter of 2021 and $91 million in the second quarter of 2022. The decrease compared with the third quarter of 2021 primarily reflects strategic equity investment gains recorded in the third quarter of 2021, partially offset by higher other trading revenue and higher disposal gains. The increase compared with the second quarter of 2022 primarily reflects a gain on disposal, higher other trading revenue and improved seed capital results, partially offset by strategic equity investment gains recorded in the second quarter of 2022.

Year-to-date 2022 compared with year-to-date 2021

Fee revenue decreased slightly compared with the first nine months of 2021, primarily reflecting lower investment management and performance fees, partially offset by higher investment services fees and foreign exchange revenue. The 7% decrease in investment management and performance fees

primarily reflects the unfavorable impact of a stronger U.S. dollar, lower market values, an unfavorable change in the mix of AUM and lower equity income,

partially offset by lower money market fee waivers. The 2% increase in investment services fees primarily reflects lower money market fee waivers and higher client activity, partially offset by the impact of lost business in the prior year in Pershing and Corporate Trust and the accelerated amortization of deferred costs for depositary receipts services related to Russia recorded in the first quarter of 2022. The 5% increase in foreign exchange revenue primarily reflects higher volatility.

Investment and other revenue increased $49 million compared with the first nine months of 2021, primarily reflecting higher strategic equity investment gains and other trading revenue, a $39 million impairment for a renewable energy investment recorded in the first quarter of 2021 and higher disposal gains, partially offset by lower seed capital results.

10 BNY Mellon

Net interest revenue

Net interest revenue															YTD22
							3Q22 vs.								vs.
(dollars in millions)	3Q22		2Q22		3Q21		2Q22		3Q21		YTD22		YTD21		YTD21
Net interest revenue	$	926	$	824	$	641	12	%	44	%	$	2,448	$	1,941	26	%
Add: Tax equivalent adjustment	3		3		3		N/M		N/M		9		9		N/M
Net interest revenue (FTE) – Non-GAAP (a)	$	929	$	827	$	644	12	%	44	%	$	2,457	$	1,950	26	%
Average interest-earning assets	$	352,062	$	370,782	$	381,065	(5)	%	(8)	%	$	365,279	$	388,823	(6)	%

Net interest margin	1.05	%	0.89	%	0.67	%	16	bps	38	bps	0.89	%	0.67	%	22	bps
Net interest margin (FTE) – Non-GAAP (a)	1.05	%	0.89	%	0.68	%	16	bps	37	bps	0.90	%	0.67	%	23	bps

(a)    Net interest revenue (FTE) – Non-GAAP and net interest margin (FTE) – Non-GAAP include the tax equivalent adjustments on tax-exempt income, which allows for comparisons of amounts arising from both taxable and tax-exempt sources and is consistent with industry practice. The adjustment to an FTE basis has no impact on net income.

N/M – Not meaningful.

bps – basis points.

Net interest revenue increased 44% compared with the third quarter of 2021 and 12% compared with the second quarter of 2022. The increase compared with the third quarter of 2021 primarily reflects higher interest rates on interest-earning assets, partially offset by higher funding expense and lower interest-earning assets. The increase compared with the second quarter of 2022 primarily reflects higher interest rates on interest-earning assets, partially offset by higher funding expense.

Net interest margin increased 38 basis points compared with the third quarter of 2021 and 16 basis points compared with the second quarter of 2022. The changes compared with the third quarter of 2021 and the second quarter of 2022 primarily reflect the factors mentioned above.

Average interest-earning assets decreased 8% compared with the third quarter of 2021 and 5% compared with the second quarter of 2022. The decrease compared with the third quarter of 2021 primarily reflects lower interest-bearing deposits with the Federal Reserve and other central banks, securities and federal funds sold and securities purchased under resale agreements balances. The decrease was partially offset by larger loan balances. The decrease compared with the second quarter of 2022 primarily reflects lower interest-bearing deposits with the Federal Reserve and other central banks and securities balances.

Average non-U.S. dollar deposits comprised approximately 25% of our average total deposits in the third quarter of 2022. Approximately 40% of the average non-U.S. dollar deposits in the third quarter of 2022 were euro-denominated.

Year-to-date 2022 compared with year-to-date 2021

Net interest revenue increased 26% compared with the first nine months of 2021, primarily driven by higher interest rates on interest-earning assets and a change in asset mix, partially offset by higher funding expense and lower interest-earning assets. The increase in the net interest margin primarily reflects the factors mentioned above.

Average interest-earning assets decreased 6% compared with the first nine months of 2021. The decrease primarily reflects lower interest-bearing deposits with the Federal Reserve and other central banks, securities, interest-bearing deposits with banks and federal funds sold and securities purchased under resale agreements balances. The decrease was partially offset by larger loan balances.

BNY Mellon 11

Average balances and interest rates	Quarter ended
	Sept. 30, 2022						June 30, 2022						Sept. 30, 2021
(dollars in millions; average rates annualized)	Average balance		Interest		Average rates		Average balance		Interest		Average rates		Average balance		Interest		Average rates
Assets
Interest-earning assets:
Interest-bearing deposits with the Federal Reserve and other central banks	$	91,836	$	288	1.23	%	$	102,844	$	99	0.38	%	$	108,110	$	(21)	(0.07)	%
Interest-bearing deposits with banks	16,298		67		1.62		18,097		33		0.74		20,465		12		0.22
Federal funds sold and securities purchased under resale agreements (a)	22,971		321		5.55		24,212		116		1.91		29,304		32		0.44
Loans	68,082		581		3.39		69,036		370		2.15		61,206		238		1.55
Securities:
U.S. government obligations	40,829		179		1.75		41,267		110		1.07		36,255		67		0.73
U.S. government agency obligations	62,819		300		1.91		64,939		258		1.59		70,199		234		1.34
State and political subdivisions (b)	1,982		12		2.39		2,065		11		2.13		2,628		13		2.07
Other securities (b)	42,642		204		1.90		43,635		142		1.31		47,334		112		0.94
Total investment securities (b)	148,272		695		1.87		151,906		521		1.37		156,416		426		1.09
Trading securities (b)	4,603		35		3.06		4,687		23		1.91		5,564		9		0.53
Total securities (b)	152,875		730		1.91		156,593		544		1.39		161,980		435		1.07
Total interest-earning assets (b)	$	352,062	$	1,987	2.24	%	$	370,782	$	1,162	1.25	%	$	381,065	$	696	0.73	%
Noninterest-earning assets	63,608						66,841						65,696
Total assets	$	415,670					$	437,623					$	446,761
Liabilities and equity
Interest-bearing liabilities:
Interest-bearing deposits	$	203,659	$	488	0.95	%	$	219,124	$	90	0.16	%	$	233,363	$	(44)	(0.08)	%
Federal funds purchased and securities sold under repurchase agreements (a)	12,297		250		8.05		12,610		77		2.47		13,415		2		0.08
Trading liabilities	3,550		23		2.52		3,231		10		1.25		2,821		1		0.11
Other borrowed funds	504		1		1.15		437		2		2.14		383		3		2.53
Commercial paper	5		—		2.34		5		—		1.61		11		—		0.07
Payables to customers and broker-dealers	18,030		48		1.07		16,592		9		0.21		16,648		(1)		(0.01)
Long-term debt	28,449		248		3.43		26,195		147		2.22		25,751		91		1.39
Total interest-bearing liabilities	$	266,494	$	1,058	1.57	%	$	278,194	$	335	0.48	%	$	292,392	$	52	0.07	%
Total noninterest-bearing deposits	84,804						91,893						85,581
Other noninterest-bearing liabilities	23,547						26,354						24,164
Total liabilities	374,845						396,441						402,137
Total The Bank of New York Mellon Corporation shareholders’ equity	40,780						41,037						44,296
Noncontrolling interests	45						145						328
Total liabilities and equity	$	415,670					$	437,623					$	446,761
Net interest revenue (FTE) – Non-GAAP (b)(c)			$	929					$	827					$	644
Net interest margin (FTE) – Non-GAAP (b)(c)					1.05	%					0.89	%					0.68	%
Less: Tax equivalent adjustment			3						3						3
Net interest revenue – GAAP			$	926					$	824					$	641
Net interest margin – GAAP					1.05	%					0.89	%					0.67	%

(a)    Includes the average impact of offsetting under enforceable netting agreements of approximately $35 billion for the third quarter of 2022, $33 billion for the second quarter of 2022 and $47 billion for the third quarter of 2021. On a Non-GAAP basis, excluding the impact of offsetting, the yield on federal funds sold and securities purchased under resale agreements would have been 2.21% for the third quarter of 2022, 0.80% for the second quarter of 2022 and 0.17% for the third quarter of 2021. On a Non-GAAP basis, excluding the impact of offsetting, the rate on federal funds purchased and securities sold under repurchase agreements would have been 2.11% for the third quarter of 2022, 0.68% for the second quarter of 2022 and 0.02% for the third quarter of 2021. We believe providing the rates excluding the impact of netting is useful to investors as it is more reflective of the actual rates earned and paid.

(b)    Average rates were calculated on an FTE basis, at tax rates of approximately 21%.

(c)    See “Net interest revenue” on page 11 for the reconciliation of this Non-GAAP measure.

12 BNY Mellon

Average balances and interest rates	Year-to-date
	Sept. 30, 2022						Sept. 30, 2021
(dollars in millions; average rates annualized)	Average balance		Interest		Average rates		Average balance		Interest		Average rates
Assets
Interest-earning assets:
Interest-bearing deposits with the Federal Reserve and other central banks	$	98,310	$	389	0.52	%	$	116,136	$	(62)	(0.07)	%
Interest-bearing deposits with banks	17,189		114		0.88		21,411		37		0.23
Federal funds sold and securities purchased under resale agreements (a)	24,715		474		2.56		28,783		89		0.41
Loans	67,980		1,211		2.38		59,521		705		1.58
Securities:
U.S. government obligations	40,988		363		1.19		32,770		189		0.77
U.S. government agency obligations	64,922		803		1.65		73,516		749		1.36
State and political subdivisions (b)	2,126		36		2.22		2,641		39		1.97
Other securities (b)	43,929		461		1.40		47,273		340		0.96
Total investment securities (b)	151,965		1,663		1.46		156,200		1,317		1.13
Trading securities (b)	5,120		79		2.07		6,772		39		0.76
Total securities (b)	157,085		1,742		1.48		162,972		1,356		1.11
Total interest-earning assets (b)	$	365,279	$	3,930	1.44	%	$	388,823	$	2,125	0.73	%
Noninterest-earning assets	65,795						64,283
Total assets	$	431,074					$	453,106
Liabilities and equity
Interest-bearing liabilities:
Interest-bearing deposits	$	215,271	$	541	0.34	%	$	239,272	$	(130)	(0.07)	%
Federal funds purchased and securities sold under repurchase agreements (a)	12,589		339		3.60		14,152		(6)		(0.05)
Trading liabilities	3,385		37		1.46		2,445		6		0.32
Other borrowed funds	467		6		1.85		337		6		2.27
Commercial paper	5		—		1.41		4		—		0.07
Payables to customers and broker-dealers	17,099		57		0.45		17,047		(2)		(0.01)
Long-term debt	26,754		493		2.44		25,740		301		1.55
Total interest-bearing liabilities	$	275,570	$	1,473	0.71	%	$	298,997	$	175	0.08	%
Total noninterest-bearing deposits	88,952						84,945
Other noninterest-bearing liabilities	25,097						24,010
Total liabilities	389,619						407,952
Total The Bank of New York Mellon Corporation shareholders’ equity	41,321						44,827
Noncontrolling interests	134						327
Total liabilities and equity	$	431,074					$	453,106
Net interest revenue (FTE) – Non-GAAP (b)(c)			$	2,457					$	1,950
Net interest margin (FTE) – Non-GAAP (b)(c)					0.90	%					0.67	%
Less: Tax equivalent adjustment			9						9
Net interest revenue – GAAP			$	2,448					$	1,941
Net interest margin – GAAP					0.89	%					0.67	%

(a)    Includes the average impact of offsetting under enforceable netting agreements of approximately $40 billion for the first nine months of 2022 and $42 billion for the first nine months of 2021. On a Non-GAAP basis, excluding the impact of offsetting, the yield on federal funds sold and securities purchased under resale agreements would have been 0.98% for the first nine months of 2022 and 0.17% for the first nine months of 2021. On a Non-GAAP basis, excluding the impact of offsetting, the rate on federal funds purchased and securities sold under repurchase agreements would have been 0.86% for the first nine months of 2022 and (0.01)% for the first nine months of 2021. We believe providing the rates excluding the impact of netting is useful to investors as it is more reflective of the actual rates earned and paid.

(b)    Average rates were calculated on an FTE basis, at tax rates of approximately 21%.

(c)    See “Net interest revenue” on page 11 for the reconciliation of this Non-GAAP measure.

BNY Mellon 13

Noninterest expense

Noninterest expense															YTD22
							3Q22 vs.								vs.
(dollars in millions)	3Q22		2Q22		3Q21		2Q22		3Q21		YTD22		YTD21		YTD21
Staff	$	1,673	$	1,623	$	1,584	3	%	6	%	$	4,998	$	4,704	6	%
Software and equipment	421		405		372		4		13		1,225		1,099		11
Professional, legal and other purchased services	363		379		363		(4)		—		1,112		1,069		4
Sub-custodian and clearing	124		131		129		(5)		(4)		373		385		(3)
Net occupancy	124		125		120		(1)		3		371		365		2
Distribution and servicing	88		90		76		(2)		16		257		223		15
Bank assessment charges	35		37		34		(5)		3		107		103		4
Business development	34		43		22		(21)		55		107		63		70
Goodwill impairment	680		—		—		N/M		N/M		680		—		N/M
Amortization of intangible assets	17		17		19		—		(11)		51		63		(19)
Other	120		262		199		(54)		(40)		516		473		9
Total noninterest expense	$	3,679	$	3,112	$	2,918	18	%	26	%	$	9,797	$	8,547	15	%
Full-time employees at period end	51,100		50,800		48,900		1	%	4	%	51,100		48,900		4	%

Total noninterest expense increased 26% compared with the third quarter of 2021 and increased 18% compared with the second quarter of 2022, primarily reflecting goodwill impairment in the Investment Management reporting unit. Excluding notable items, noninterest expense increased 4% (Non-GAAP) compared with the third quarter of 2021, primarily reflecting higher investments in growth, infrastructure and efficiency initiatives and higher revenue-related expenses, as well as the impact of inflation, partially offset by the favorable impact of a stronger U.S. dollar. The investments in growth, infrastructure and efficiency initiatives are primarily included in staff, software and equipment, and professional, legal and other purchased services expenses. Excluding notable items, noninterest expense decreased 1% (Non-GAAP) compared with the second quarter of 2022, primarily reflecting the favorable impact of a stronger U.S. dollar.

Year-to-date 2022 compared with year-to-date 2021

Noninterest expense increased 15% compared with the first nine months of 2021, primarily reflecting goodwill impairment in the Investment Management reporting unit. Excluding notable items, noninterest

expense increased 6% (Non-GAAP), primarily reflecting higher investments in growth, infrastructure and efficiency initiatives and higher revenue-related expenses, as well as the impact of inflation, partially offset by the favorable impact of a stronger U.S. dollar. See “Supplemental information – Explanation of GAAP and Non-GAAP financial measures” beginning on page 45 for the reconciliation of this Non-GAAP measure.

Income taxes

BNY Mellon recorded an income tax provision of $242 million in the third quarter of 2022. The effective tax rate was 38.4% in the third quarter of 2022, or 19.5% (Non-GAAP) excluding notable items, primarily goodwill impairment. The income tax provision was $219 million (18.8% effective tax rate) in the third quarter of 2021 and $231 million (21.1% effective tax rate) in the second quarter of 2022. See “Supplemental information – Explanation of GAAP and Non-GAAP financial measures” beginning on page 45 for the reconciliation of this Non-GAAP measure. For additional information, see Note 11 of the Notes to Consolidated Financial Statements.

14 BNY Mellon

Review of business segments

We have an internal information system that produces performance data along product and service lines for our three principal business segments: Securities Services, Market and Wealth Services and Investment and Wealth Management, and the Other segment.

Business segment accounting principles

Our business data has been determined on an internal management basis of accounting, rather than the generally accepted accounting principles (“GAAP”) used for consolidated financial reporting. These measurement principles are designed so that reported results of the businesses will track their economic performance.

For information on the accounting principles of our businesses, see Note 19 of the Notes to Consolidated Financial Statements. For information on the primary products and services in each line of business, the primary types of revenue by line of business and how our business segments are presented and analyzed, see Note 24 of the Notes to Consolidated Financial Statements in our 2021 Annual Report.

Business segment results are subject to reclassification when organizational changes are made, or for refinements in revenue and expense allocation methodologies. Refinements are typically reflected on a prospective basis. There were no reclassification or organizational changes in the third quarter of 2022.

The results of our business segments may be influenced by client and other activities that vary by quarter. In the first quarter, staff expense typically increases, reflecting the vesting of long-term stock awards for retirement-eligible employees. Prior to 2022, in the third quarter, staff expense typically increased, reflecting the annual employee merit increase. In 2022, this increase was reflected in the second quarter.

In the third quarter, volume-related fees may decline due to reduced client activity. In the fourth quarter, we typically incur higher business development and marketing expenses. In our Investment and Wealth Management business segment, performance fees are typically higher in the fourth and first quarters, as those quarters represent the end of the measurement period for many of the performance fee-eligible relationships.

The results of our business segments may also be impacted by the translation of financial results denominated in foreign currencies to the U.S. dollar. We are primarily impacted by activities denominated in the British pound and the euro. On a consolidated basis and in our Securities Services and Market and Wealth Services business segments, we typically have more foreign currency-denominated expenses than revenues. However, our Investment and Wealth Management business segment typically has more foreign currency-denominated revenues than expenses. Overall, currency fluctuations impact the year-over-year growth rate in the Investment and Wealth Management business segment more than the Securities Services and Market and Wealth Services business segments. However, currency fluctuations, in isolation, are not expected to significantly impact net income on a consolidated basis.

Fee revenue in the Investment and Wealth Management business segment, and, to a lesser extent, the Securities Services and Market and Wealth Services business segments, is impacted by the global market fluctuations. At Sept. 30, 2022, we estimated that a 5% change in global equity markets, spread evenly throughout the year, would impact fee revenue by less than 1% and diluted earnings per common share by $0.04 to $0.07.

See Note 19 of the Notes to Consolidated Financial Statements for the consolidating schedules, which show the contribution of our business segments to our overall profitability.

BNY Mellon 15

Securities Services business segment

																										YTD22
(dollars in millions, unless otherwise noted)																3Q22 vs.										vs.
	3Q22			2Q22			1Q22			4Q21			3Q21			2Q22		3Q21		YTD22			YTD21			YTD21
Revenue:
Investment services fees:
Asset Servicing	$	953		$	995		$	999		$	984		$	979		(4)	%	(3)	%	$	2,947		$	2,892		2	%
Issuer Services	288			309			141			253			281			(7)		2		738			808			(9)
Total investment services fees	1,241			1,304			1,140			1,237			1,260			(5)		(2)		3,685			3,700			—
Foreign exchange revenue	132			155			148			148			125			(15)		6		435			426			2
Other fees (a)	52			54			41			28			30			(4)		73		147			85			73
Total fee revenue	1,425			1,513			1,329			1,413			1,415			(6)		1		4,267			4,211			1
Investment and other revenue	111			36			74			53			73			N/M		N/M		221			141			N/M
Total fee and other revenue	1,536			1,549			1,403			1,466			1,488			(1)		3		4,488			4,352			3
Net interest revenue	538			457			377			367			349			18		54		1,372			1,059			30
Total revenue	2,074			2,006			1,780			1,833			1,837			3		13		5,860			5,411			8
Provision for credit losses	(6)			13			(10)			(7)			(19)			N/M		N/M		(3)			(127)			N/M
Noninterest expense (excluding amortization of intangible assets)	1,549			1,647			1,502			1,481			1,535			(6)		1		4,698			4,339			8
Amortization of intangible assets	8			9			8			9			8			(11)		—		25			23			9
Total noninterest expense	1,557			1,656			1,510			1,490			1,543			(6)		1		4,723			4,362			8
Income before income taxes	$	523		$	337		$	280		$	350		$	313		55	%	67	%	$	1,140		$	1,176		(3)	%
Pre-tax operating margin	25		%	17		%	16		%	19		%	17		%					19		%	22		%
Securities lending revenue (b)	$	48		$	45		$	39		$	45		$	45		7	%	7	%	$	132		$	128		3	%
Total revenue by line of business:
Asset Servicing	$	1,596		$	1,534		$	1,512		$	1,456		$	1,437		4	%	11	%	$	4,642		$	4,243		9	%
Issuer Services	478			472			268			377			400			1		20		1,218			1,168			4
Total revenue by line of business	$	2,074		$	2,006		$	1,780		$	1,833		$	1,837		3	%	13	%	$	5,860		$	5,411		8	%
Selected average balances:
Average loans	$	11,573		$	11,386		$	10,150		$	9,764		$	8,389		2	%	38	%	$	11,042		$	8,416		31	%
Average deposits	$	176,328		$	191,191		$	192,156		$	200,272		$	198,680		(8)	%	(11)	%	$	186,500		$	200,553		(7)	%
Selected metrics:
AUC/A at period end (in trillions) (c)	$	30.0		$	31.0		$	33.7		$	34.6		$	33.8		(3)	%	(11)	%
Market value of securities on loan at period end (in billions) (d)	$	435		$	441		$	449		$	447		$	443		(1)	%	(2)	%

(a)    Other fees primarily include financing-related fees.

(b)    Included in investment services fees reported in the Asset Servicing line of business.

(c)    Consists of AUC/A primarily from the Asset Servicing line of business and, to a lesser extent, the Issuer Services line of business. Includes the AUC/A of CIBC Mellon of $1.4 trillion at Sept. 30, 2022, $1.5 trillion at June 30, 2022 and $1.7 trillion at March 31, 2022, Dec. 31, 2021 and Sept. 30, 2021.

(d)    Represents the total amount of securities on loan in our agency securities lending program. Excludes securities for which BNY Mellon acts as agent on behalf of CIBC Mellon clients, which totaled $75 billion at Sept. 30, 2022, $70 billion at June 30, 2022, $78 billion at March 31, 2022, $71 billion at Dec. 31, 2021 and $68 billion at Sept. 30, 2021.

N/M – Not meaningful.

Business segment description

The Securities Services business segment consists of two distinct lines of business, Asset Servicing and Issuer Services, which provide business solutions across the transaction life cycle to our global asset owner and asset manager clients. We are one of the leading global investment services providers with $30.0 trillion of AUC/A at Sept. 30, 2022. For information on the drivers of the Securities Services

fee revenue, see Note 10 of the Notes to Consolidated Financial Statements in our 2021 Annual Report.

The Asset Servicing business provides a comprehensive suite of solutions. We are one of the largest global custody and front-to-back outsourcing partners. We offer services for the safekeeping of assets in capital markets globally, as well as fund accounting services, exchange-traded funds servicing, transfer agency, trust and depository, front-to-back

16 BNY Mellon

capabilities and data and analytics solutions for our clients. We deliver foreign exchange, and securities lending and financing solutions, on both an agency and principal basis. Our agency securities lending program is one of the largest lenders of U.S. and non-U.S. securities, servicing a lendable asset pool of approximately $4.0 trillion in 34 separate markets. Our market-leading liquidity services portal enables cash investments for institutional clients and includes fund research and analytics.

The Issuer Services business includes Corporate Trust and Depositary Receipts. Our Corporate Trust business delivers a full range of issuer and related investor services, including trustee, paying agency, fiduciary, escrow and other financial services. We are a leading provider to the debt capital markets, providing customized and market-driven solutions to investors, bondholders and lenders. Our Depositary Receipts business drives global investing by providing servicing and value-added solutions that enable, facilitate and enhance cross-border trading, clearing, settlement and ownership. We are one of the largest providers of depositary receipts services in the world, partnering with leading companies from more than 50 countries.

Review of financial results

AUC/A of $30.0 trillion decreased 11% compared with Sept. 30, 2021, primarily reflecting lower market values and the unfavorable impact of a stronger U.S. dollar, partially offset by client inflows and net new business.

Total revenue of $2.1 billion increased 13% compared with the third quarter of 2021 and 3% compared with the second quarter of 2022. The drivers of total revenue by line of business are indicated below.

Asset Servicing revenue of $1.6 billion increased 11% compared with the third quarter of 2021 and 4% compared with the second quarter of 2022. The increase compared with the third quarter of 2021 primarily reflects higher net interest revenue and lower money market fee waivers, partially offset by lower market values. The increase compared with the second quarter of 2022 primarily reflects higher net interest revenue and a disposal gain, partially offset by lower market values and the unfavorable impact of a stronger U.S. dollar.

Issuer Services revenue of $478 million increased 20% compared with the third quarter of 2021 and 1% compared with the second quarter of 2022. The increase compared with the third quarter of 2021 primarily reflects higher net interest revenue and lower money market fee waivers, partially offset by the impact of lost business in the prior year in Corporate Trust and lower Depositary Receipts revenue. The increase compared with the second quarter of 2022 primarily reflects higher net interest revenue in Corporate Trust, partially offset by lower Depositary Receipts revenue.

Market and regulatory trends are driving investable assets toward lower fee asset management products at reduced margins for our clients. These dynamics are also negatively impacting our investment services fees. However, at the same time, these trends are providing additional outsourcing opportunities as clients and other market participants seek to comply with regulations and reduce their operating costs.

Noninterest expense of $1.6 billion increased 1% compared with the third quarter of 2021 and decreased 6% compared with the second quarter of 2022. The increase compared with the third quarter of 2021 primarily reflects higher investments in growth, infrastructure and efficiency initiatives, as well as the impact of inflation, partially offset by lower litigation reserves and the favorable impact of a stronger U.S. dollar. The decrease compared with the second quarter of 2022 primarily reflects lower litigation reserves.

Year-to-date 2022 compared with year-to-date 2021

Total revenue of $5.9 billion increased 8% compared with the first nine months of 2021. Asset Servicing revenue of $4.6 billion increased 9%, primarily reflecting higher net interest revenue, lower money market fee waivers, higher client activity and a disposal gain, partially offset by the unfavorable impact of a stronger U.S. dollar. Issuer Services revenue of $1.2 billion increased 4%, primarily reflecting higher net interest revenue and lower money market fee waivers in Corporate Trust, partially offset by accelerated amortization of deferred costs for depositary receipts services related to Russia recorded in the first quarter of 2022 and the impact of lost business in the prior year in Corporate Trust.

BNY Mellon 17

Noninterest expense of $4.7 billion increased 8% compared with the first nine months of 2021, primarily reflecting investments in growth, infrastructure and efficiency initiatives, higher

revenue-related expenses and litigation reserves, as well as inflation, partially offset by the favorable impact of a stronger U.S. dollar.

Market and Wealth Services business segment

																										YTD22
(dollars in millions, unless otherwise noted)																3Q22 vs.										vs.
	3Q22			2Q22			1Q22			4Q21			3Q21			2Q22		3Q21		YTD22			YTD21			YTD21
Revenue:
Investment services fees:
Pershing	$	494		$	479		$	433		$	412		$	427		3	%	16	%	$	1,406		$	1,325		6	%
Treasury Services	173			176			170			170			168			(2)		3		519			492			5
Clearance and Collateral Management	239			240			243			236			228			—		5		722			682			6
Total investment services fees	906			895			846			818			823			1		10		2,647			2,499			6
Foreign exchange revenue	20			22			26			21			23			(9)		(13)		68			67			1
Other fees (a)	49			46			34			31			31			7		58		129			100			29
Total fee revenue	975			963			906			870			877			1		11		2,844			2,666			7
Investment and other revenue	14			11			—			6			13			N/M		N/M		25			41			N/M
Total fee and other revenue	989			974			906			876			890			2		11		2,869			2,707			6
Net interest revenue	378			340			296			297			283			11		34		1,014			861			18
Total revenue	1,367			1,314			1,202			1,173			1,173			4		17		3,883			3,568			9
Provision for credit losses	(1)			4			(2)			(3)			(16)			N/M		N/M		1			(64)			N/M
Noninterest expense (excluding amortization of intangible assets)	735			700			706			670			665			5		11		2,141			1,985			8
Amortization of intangible assets	2			2			2			4			3			—		(33)		6			17			(65)
Total noninterest expense	737			702			708			674			668			5		10		2,147			2,002			7
Income before income taxes	$	631		$	608		$	496		$	502		$	521		4	%	21	%	$	1,735		$	1,630		6	%
Pre-tax operating margin	46		%	46		%	41		%	43		%	44		%					45		%	46		%
Total revenue by line of business:
Pershing	$	658		$	636		$	570		$	553		$	566		3	%	16	%	$	1,864		$	1,761		6	%
Treasury Services	390			373			338			331			326			5		20		1,101			962			14
Clearance and Collateral Management	319			305			294			289			281			5		14		918			845			9
Total revenue by line of business	$	1,367		$	1,314		$	1,202		$	1,173		$	1,173		4	%	17	%	$	3,883		$	3,568		9	%
Selected average balances:
Average loans	$	40,882		$	42,391		$	42,113		$	40,812		$	39,041		(4)	%	5	%	$	41,791		$	37,513		11	%
Average deposits	$	90,612		$	94,716		$	95,704		$	100,653		$	101,253		(4)	%	(11)	%	$	93,658		$	103,720		(10)	%
Selected metrics:
AUC/A at period end   (in trillions) (b)	$	12.0		$	11.8		$	11.6		$	11.8		$	11.2		2	%	7	%
Pershing:
AUC/A at period end (in trillions)	$	2.1		$	2.2		$	2.5		$	2.6		$	2.6		(5)	%	(19)	%
Net new assets (U.S. platform) (in billions) (c)	$	45		$	16		$	18		$	69		$	13		N/M		N/M
Average active clearing accounts (in thousands)	7,466			7,432			7,432			7,334			7,259			—	%	3	%
Treasury Services:
Average daily U.S. dollar payment volumes	234,468			237,763			240,403			245,634			232,144			(1)	%	1	%
Clearance and Collateral Management:
Average tri-party collateral management balances (in billions)	$	5,457		$	5,207		$	5,026		$	4,972		$	4,516		5	%	21	%

(a)    Other fees primarily include financing-related fees.

(b)    Consists of AUC/A from the Clearance and Collateral Management and Pershing lines of business.

(c)    Net new assets represent net flows of assets (e.g., net cash deposits and net securities transfers, including dividends and interest) in customer accounts in Pershing LLC, a U.S. broker-dealer.

N/M – Not meaningful.

18 BNY Mellon

Business segment description

The Market and Wealth Services business segment consists of three distinct lines of business, Pershing, Treasury Services and Clearance and Collateral Management, which provide business services and technology solutions to entities including financial institutions, corporations, foundations and endowments, public funds and government agencies. For information on the drivers of the Market and Wealth Services fee revenue, see Note 10 of the Notes to Consolidated Financial Statements in our 2021 Annual Report.

Pershing provides execution, clearing, custody, business and technology solutions, delivering operational support to broker-dealers, wealth managers and registered investment advisors (“RIAs”) globally.

Our Treasury Services business is a leading provider of global payments, liquidity management and trade finance services for financial institutions, corporations and the public sector.

Our Clearance and Collateral Management business clears and settles equity and fixed income transactions globally and serves as custodian for tri-party repo collateral worldwide. We are the primary provider of U.S. government securities clearance and a provider of non-U.S. government securities clearance. Our collateral services include collateral management, administration and segregation. We offer innovative solutions and industry expertise, which help financial institutions and institutional investors with their financing, risk and balance sheet challenges. We are a leading provider of tri-party collateral management services with an average of $5.5 trillion serviced globally, including approximately $4.4 trillion of the U.S. tri-party repo market at Sept. 30, 2022.

Review of financial results

AUC/A of $12.0 trillion increased 7% compared with Sept. 30, 2021, primarily reflecting net client inflows, partially offset by lower market values and the impact of a stronger U.S. dollar.

Total revenue of $1.4 billion increased 17% compared with the third quarter of 2021 and 4% compared with the second quarter of 2022. The

drivers of total revenue by line of business are indicated below.

Pershing revenue of $658 million increased 16% compared with the third quarter of 2021 and 3% compared with the second quarter of 2022. The increase compared with the third quarter of 2021 primarily reflects lower money market fee waivers and higher client activity, partially offset by the impact of prior year lost business. The increase compared with the second quarter of 2022 primarily reflects lower money market fee waivers.

Treasury Services revenue of $390 million increased 20% compared with the third quarter of 2021 and 5% compared with the second quarter of 2022. The increase compared with the third quarter of 2021 primarily reflects higher net interest revenue and lower money market fee waivers. The increase compared with the second quarter of 2022 primarily reflects higher net interest revenue.

Clearance and Collateral Management revenue of $319 million increased 14% compared with the third quarter of 2021 and 5% compared with the second quarter of 2022. The increase compared with the third quarter of 2021 primarily reflects higher net interest revenue and clearance volumes. The increase compared with the second quarter of 2022 primarily reflects higher net interest revenue.

Noninterest expense of $737 million increased 10% compared with the third quarter of 2021 and 5% compared with the second quarter of 2022. The increase compared with the third quarter of 2021 primarily reflects higher investments in growth, infrastructure and efficiency initiatives, as well as the impact of inflation, partially offset by the favorable impact of a stronger U.S. dollar. The increase compared with the second quarter of 2022 primarily reflects higher staff expense.

Year-to-date 2022 compared with year-to-date 2021

Total revenue of $3.9 billion increased 9% compared with the first nine months of 2021. Pershing revenue of $1.9 billion increased 6%, primarily reflecting lower money market fee waivers and growth from existing clients, partially offset by the impact of prior year lost business. Treasury Services revenue of $1.1 billion increased 14%, primarily reflecting higher net interest revenue and lower money market fee waivers.

BNY Mellon 19

Clearance and Collateral Management revenue of $918 million increased 9%, primarily reflecting higher net interest revenue and clearance volumes.

Noninterest expense of $2.1 billion increased 7% compared with the first nine months of 2021,

primarily reflecting higher investments in growth, infrastructure and efficiency initiatives, including the impact of inflation, partially offset by the favorable impact of a stronger U.S. dollar.

Investment and Wealth Management business segment

																												YTD22
																	3Q22 vs.											vs.
(dollars in millions)	3Q22				2Q22			1Q22			4Q21			3Q21			2Q22		3Q21		YTD22				YTD21			YTD21
Revenue:
Investment management fees	$	788			$	825		$	848		$	864		$	893		(4)	%	(12)	%	$	2,461			$	2,619		(6)	%
Performance fees	10				5			34			32			21			N/M		(52)		49				75			(35)
Investment management and performance fees (a)	798				830			882			896			914			(4)		(13)		2,510				2,694			(7)
Distribution and servicing fees	55				51			32			28			28			8		96		138				84			64
Other fees (b)	(45)				(31)			1			22			20			N/M		N/M		(75)				58			N/M
Total fee revenue	808				850			915			946			962			(5)		(16)		2,573				2,836			(9)
Investment and other revenue (c)	(3)				(13)			(8)			23			23			N/M		N/M		(24)				44			N/M
Total fee and other revenue (c)	805				837			907			969			985			(4)		(18)		2,549				2,880			(11)
Net interest revenue	57				62			57			51			47			(8)		21		176				142			24
Total revenue	862				899			964			1,020			1,032			(4)		(16)		2,725				3,022			(10)
Provision for credit losses	3				—			(3)			(6)			(7)			N/M		N/M		—				(7)			N/M
Noninterest expense (excluding goodwill impairment and amortization of intangible assets)	669				685			748			741			684			(2)		(2)		2,102				2,055			2
Goodwill impairment	680				—			—			—			—			N/M		N/M		680				—			N/M
Amortization of intangible assets	7				6			7			7			7			17		—		20				22			(9)
Total noninterest expense	1,356				691			755			748			691			96		96		2,802				2,077			35
(Loss) income before income taxes (d)	$	(497)			$	208		$	212		$	278		$	348		(339)	%	(243)	%	$	(77)			$	952		(108)	%
Pre-tax operating margin	(57)		%		23		%	22		%	27		%	34		%					(3)		%		31		%
Adjusted pre-tax operating margin – Non-GAAP (e)	(64)		%	(f)	26		%	24		%	29		%	36		%					(3)		%	(f)	34		%
Total revenue by line of business:
Investment Management	$	579			$	603		$	658		$	709		$	727		(4)	%	(20)	%	$	1,840			$	2,125		(13)	%
Wealth Management	283				296			306			311			305			(4)		(7)		885				897			(1)
Total revenue by line of business	$	862			$	899		$	964		$	1,020		$	1,032		(4)	%	(16)	%	$	2,725			$	3,022		(10)	%
Average balances:
Average loans	$	14,482			$	14,087		$	13,228		$	12,737		$	12,248		3	%	18	%	$	13,937			$	11,912		17	%
Average deposits	$	17,225			$	20,802		$	22,501		$	18,374		$	17,270		(17)	%	—	%	$	20,157			$	17,964		12	%

(a)    On a constant currency basis, investment management and performance fees decreased 8% (Non-GAAP) compared with the third quarter of 2021. See “Supplemental information – Explanation of GAAP and Non-GAAP financial measures” beginning on page 45 for the reconciliation of this Non-GAAP measure.

(b)    Other fees primarily include investment services fees.

(c)    Investment and other revenue and total fee and other revenue are net of income (loss) attributable to noncontrolling interests related to consolidated investment management funds.

(d)    Excluding notable items, income before income taxes decreased 48% (Non-GAAP) compared with the third quarter of 2021, 13% (Non-GAAP) compared with the second quarter of 2022 and 37% (Non-GAAP) compared with the first nine months of 2021. See “Explanation of GAAP and Non-GAAP financial measures” beginning on page 45 for information on this Non-GAAP measure.

(e)    Net of distribution and servicing expense. See “Supplemental information – Explanation of GAAP and Non-GAAP financial measures” beginning on page 45 for the reconciliation of this Non-GAAP measure.

(f)    Excluding notable items and net of distribution and servicing expense, the adjusted pre-tax operating margin was 24% (Non-GAAP) in the third quarter of 2022 and the first nine months of 2022. See “Supplemental information – Explanation of GAAP and Non-GAAP financial measures” beginning on page 45 for the reconciliation of this Non-GAAP measure.

N/M – Not meaningful.

20 BNY Mellon

AUM trends											3Q22 vs.
(dollars in billions)	3Q22		2Q22		1Q22		4Q21		3Q21		2Q22		3Q21
AUM by product type: (a)
Equity	$	125	$	139	$	168	$	187	$	180	(10)	%	(31)	%
Fixed income	205		226		248		267		269		(9)		(24)
Index	366		387		440		467		436		(5)		(16)
Liability-driven investments	546		641		812		890		843		(15)		(35)
Multi-asset and alternative investments	181		188		215		228		218		(4)		(17)
Cash	353		356		383		395		364		(1)		(3)
Total AUM	$	1,776	$	1,937	$	2,266	$	2,434	$	2,310	(8)	%	(23)	%
Changes in AUM: (a)
Beginning balance of AUM	$	1,937	$	2,266	$	2,434	$	2,310	$	2,320
Net inflows (outflows):
Long-term strategies:
Equity	(5)		(4)		(4)		(4)		(5)
Fixed income	(3)		(1)		(5)		—		1
Liability-driven investments	30		12		17		1		16
Multi-asset and alternative investments	2		(5)		(4)		1		(2)
Total long-term active strategies inflows (outflows)	24		2		4		(2)		10
Index	(1)		12		(5)		(2)		(3)
Total long-term strategies inflows (outflows)	23		14		(1)		(4)		7
Short-term strategies:
Cash	(2)		(26)		(11)		31		7
Total net inflows (outflows)	21		(12)		(12)		27		14
Net market impact	(118)		(241)		(130)		96		4
Net currency impact	(64)		(76)		(26)		1		(28)
Ending balance of AUM	$	1,776	$	1,937	$	2,266	$	2,434	$	2,310	(8)	%	(23)	%
Wealth Management client assets (b)	$	256	$	264	$	305	$	321	$	307	(3)	%	(17)	%

(a)    Excludes assets managed outside of the Investment and Wealth Management business segment.

(b)    Includes AUM and AUC/A in the Wealth Management line of business.

Business segment description

Our Investment and Wealth Management business segment consists of two distinct lines of business, Investment Management and Wealth Management. Our investment firms deliver a highly diversified portfolio of investment strategies independently, and through our global distribution network, to institutional and retail clients globally. BNY Mellon Wealth Management provides investment management, custody, wealth and estate planning, private banking services, investment servicing and information management. See pages 20 and 21 of our 2021 Annual Report for additional information on our Investment and Wealth Management business segment.

In May 2022, we entered into a definitive agreement to sell Alcentra. At Sept. 30, 2022, Alcentra had $32 billion in AUM concentrated in senior secured loans, high yield bonds, private credit, structured credit, special situations and multi-strategy credit strategies. The transaction was completed on Nov. 1, 2022.

Review of financial results

AUM decreased 23% compared with Sept. 30, 2021, primarily reflecting lower market values and the unfavorable impact of a stronger U.S. dollar, partially offset by net inflows.

Net long-term strategy inflows were $23 billion in the third quarter of 2022, driven by inflows of liability-driven investments. Short-term strategy outflows were $2 billion in the third quarter of 2022. Market and regulatory trends have resulted in increased demand for lower fee asset management products and for performance-based fees.

Total revenue of $862 million decreased 16% compared with the third quarter of 2021 and 4% compared with the second quarter of 2022. Investment Management revenue of $579 million decreased 20% compared with the third quarter of 2021 and 4% compared with the second quarter of 2022. The decrease compared with the third quarter of 2021 primarily reflects lower market values, the

BNY Mellon 21

unfavorable impact of a stronger U.S. dollar, an unfavorable change in the mix of AUM, lower equity income and strategic equity investment gains recorded in the third quarter of 2021, partially offset by lower money market fee waivers. The decrease compared with the second quarter of 2022 primarily reflects lower market values, the unfavorable impact of a stronger U.S. dollar and lower equity income, partially offset by lower money market fee waivers.

Wealth Management revenue of $283 million decreased 7% compared with the third quarter of 2021 and 4% compared with the second quarter of 2022. The decrease compared with the third quarter of 2021 primarily reflects lower market values, partially offset by higher net interest revenue.

Revenue generated in the Investment and Wealth Management business segment included 33% from non-U.S. sources in the third quarter of 2022, compared with 38% in the third quarter of 2021 and 35% in the second quarter of 2022.

Noninterest expense of $1.4 billion increased 96% compared with the third quarter of 2021 and second quarter of 2022, primarily reflecting goodwill impairment in the Investment Management reporting unit. Excluding notable items, noninterest expense decreased 2% (Non-GAAP) compared with the third quarter of 2021 and second quarter of 2022, reflecting the favorable impact of a stronger U.S. dollar. The decrease compared with the third quarter of 2021 was partially offset by investments in growth initiatives and higher distribution and servicing expense. See

“Supplemental information – Explanation of GAAP and Non-GAAP financial measures” beginning on page 45 for the reconciliation of this Non-GAAP measure.

Year-to-date 2022 compared with year-to-date 2021

Total revenue of $2.7 billion decreased 10% compared with the first nine months of 2021. Investment Management revenue of $1.8 billion decreased 13%, primarily reflecting the unfavorable impact of a stronger U.S. dollar, lower seed capital results and market values, an unfavorable change in the mix of AUM, lower equity income and strategic equity investment gains recorded in the third quarter of 2021, partially offset by lower money market fee waivers. Wealth Management revenue of $885 million decreased 1%, primarily reflecting lower market values, partially offset by higher net interest revenue.

Noninterest expense of $2.8 billion increased 35% compared with the first nine months of 2021, primarily reflecting goodwill impairment in the Investment Management reporting unit. Excluding notable items, noninterest expense increased 2% (Non-GAAP) compared with the first nine months of 2021, primarily reflecting investments in growth initiatives and higher distribution and servicing expense, partially offset by the favorable impact of a stronger U.S. dollar. See “Supplemental information – Explanation of GAAP and Non-GAAP financial measures” beginning on page 45 for the reconciliation of this Non-GAAP measure.

Other segment

(in millions)	3Q22		2Q22		1Q22		4Q21		3Q21		YTD22		YTD21
Fee revenue	$	28	$	13	$	8	$	2	$	12	$	49	$	34
Investment and other revenue	(5)		62		12		19		23		69		(4)
Total fee and other revenue	23		75		20		21		35		118		30
Net interest expense	(47)		(35)		(32)		(38)		(38)		(114)		(121)
Total revenue	(24)		40		(12)		(17)		(3)		4		(91)
Provision for credit losses	(26)		30		17		(1)		(3)		21		(16)
Noninterest expense	29		63		33		55		16		125		106
(Loss) before income taxes	$	(27)	$	(53)	$	(62)	$	(71)	$	(16)	$	(142)	$	(181)
Average loans and leases	$	1,145	$	1,172	$	1,319	$	1,337	$	1,528	$	1,210	$	1,680

See page 22 of our 2021 Annual Report for additional information on the Other segment.

22 BNY Mellon

Review of financial results

Total revenue includes corporate treasury and other investment activity, including hedging activity, which has an offsetting impact between fee and other revenue and net interest expense.

Total revenue decreased $21 million compared with the third quarter of 2021 and $64 million compared with the second quarter of 2022. The decrease compared with the second quarter of 2022 primarily reflects strategic equity gains recorded in the second quarter of 2022.

The provision for credit losses was a benefit of $26 million in the third quarter of 2022, including reserve releases related to cash balances with exposure to Russia.

Noninterest expense increased $13 million compared with the third quarter of 2021 and decreased $34 million compared with the second quarter of 2022. Both variances were primarily driven by staff expense.

Year-to-date 2022 compared with year-to-date 2021

Loss before income taxes decreased $39 million compared with the first nine months of 2021. Total fee and other revenue increased $88 million, primarily reflecting higher strategic equity investment gains and a $39 million impairment for a renewable energy investment recorded in the first quarter of 2021.

The provision for credit losses was $21 million in the first nine months of 2022, primarily related to changes in the macroeconomic forecast and an increase in cash balances with exposure to Russia.

Noninterest expense increased $19 million compared with the first nine months of 2021, primarily reflecting higher staff expense.

Critical accounting estimates

Our significant accounting policies are described in Note 1 of the Notes to Consolidated Financial Statements in our 2021 Annual Report. Our critical accounting estimates are those related to the allowance for credit losses, goodwill and other intangibles and litigation and regulatory contingencies, as referenced below.

Critical accounting estimates	Reference
Allowance for credit losses	2021 Annual Report, pages 25-26, and “Allowance for credit losses.”
Goodwill and other intangibles	2021 Annual Report, pages 26-27, and second quarter 2022 Form 10-Q, page 23. Also see below.
Litigation and regulatory contingencies	“Legal proceedings” in Note 18 of the Notes to Consolidated Financial Statements.

Goodwill and other intangibles

BNY Mellon’s business segments include six reporting units for which goodwill impairment testing is performed on an annual basis. As a result of the annual goodwill impairment test conducted in the second quarter of 2022, no goodwill impairment was recognized.

An interim test is performed when events or circumstances occur that may indicate that it is more likely than not that the fair value of any reporting unit may be less than its carrying value.

In the third quarter of 2022, due to decreases in market values and the related outlook as well as increased market interest rates, we performed an interim goodwill impairment test of the Investment Management reporting unit, which had $7.0 billion of allocated goodwill. The fair value of the Investment Management reporting unit was determined to be 7% below its carrying value, resulting in a goodwill impairment charge of $680 million. This goodwill impairment represents a non-cash charge and did not affect BNY Mellon’s liquidity position, tangible common equity or regulatory capital ratios. We determined it was not necessary to perform an interim goodwill impairment test for our other reporting units.

We determined the fair value of the Investment Management reporting unit using an income approach based on management’s projections as of Sept. 30, 2022. The discount rate applied to these cash flows was 10.5% compared with a 10.0% discount rate used in the annual impairment test conducted in the second quarter of 2022. The increase was driven by a higher risk free rate. Determining the fair value of a reporting unit is subject to uncertainty as it is reliant on estimates of cash flows that extend far into the future, and, by their nature, are difficult to estimate over such an extended time frame. The cash flow estimates for the Investment Management reporting

BNY Mellon 23

unit are impacted by projections of the level and mix of AUM, market values, operating margins and long-term growth rates. In the future, changes in the assumptions or the discount rate could produce a material non-cash goodwill impairment.

As of Sept. 30, 2022, if the discount rate applied to the estimated cash flows was increased or decreased by 25 basis points, the fair value of the Investment Management reporting unit would decrease or increase by 4%, respectively. Similarly, if the long-term growth rate was increased or decreased by 10 basis points, the fair value of the Investment Management reporting unit would increase or decrease by approximately 1%, respectively.

Consolidated balance sheet review

One of our key risk management objectives is to maintain a balance sheet that remains strong throughout market cycles to meet the expectations of our major stakeholders, including our shareholders, clients, creditors and regulators.

We also seek to undertake overall liquidity risk, including intraday liquidity risk, that stays within our risk appetite. The objective of our balance sheet management strategy is to maintain a balance sheet that is characterized by strong liquidity and asset quality, ready access to external funding sources at competitive rates and a strong capital structure that supports our risk-taking activities and is adequate to absorb potential losses. In managing the balance sheet, appropriate consideration is given to balancing the competing needs of maintaining sufficient levels of liquidity and complying with applicable regulations and supervisory expectations while optimizing profitability.

At Sept. 30, 2022, total assets were $428 billion, compared with $444 billion at Dec. 31, 2021. The decrease in total assets was primarily driven by lower securities and federal funds sold and securities purchased under resale agreements, partially offset by higher other assets. Deposits totaled $302 billion at Sept. 30, 2022, compared with $320 billion at Dec. 31, 2021. The decrease reflects lower interest-bearing deposits in U.S. offices, noninterest-bearing

deposits (principally U.S. offices) and interest-bearing deposits in non-U.S. offices. Total interest-bearing deposits as a percentage of total interest-earning assets were 59% at Sept. 30, 2022 and 60% at Dec. 31, 2021.

At Sept. 30, 2022, available funds totaled $150 billion and included cash and due from banks, interest-bearing deposits with the Federal Reserve and other central banks, interest-bearing deposits with banks and federal funds sold and securities purchased under resale agreements. This compares with available funds of $155 billion at Dec. 31, 2021. Total available funds as a percentage of total assets were 35% at Sept. 30, 2022 and Dec. 31, 2021. For additional information on our available funds, see “Liquidity and dividends.”

Securities were $144 billion, or 34% of total assets, at Sept. 30, 2022, compared with $159 billion, or 36% of total assets, at Dec. 31, 2021. The decrease primarily reflects unrealized pre-tax losses and lower agency residential mortgage-backed securities (“RMBS”), partially offset by higher U.S. Treasury securities. For additional information on our securities portfolio, see “Securities” and Note 4 of the Notes to Consolidated Financial Statements.

Loans were $70 billion, or 16% of total assets, at Sept. 30, 2022, compared with $68 billion, or 15% of total assets, at Dec. 31, 2021. The increase was driven by higher loans in nearly all portfolios, partially offset by lower margin loans. For additional information on our loan portfolio, see “Loans” and Note 5 of the Notes to Consolidated Financial Statements.

Long-term debt totaled $28 billion at Sept. 30, 2022 and $26 billion at Dec. 31, 2021. Issuances were partially offset by redemptions and maturities and a decrease in the fair value of hedged long-term debt. For additional information on long-term debt, see “Liquidity and dividends.”

The Bank of New York Mellon Corporation total shareholders’ equity decreased to $40 billion at Sept. 30, 2022 from $43 billion at Dec. 31, 2021. For additional information, see “Capital.”

24 BNY Mellon

Country risk exposure

The following table presents BNY Mellon’s top 10 exposures by country (excluding the U.S.) as of Sept. 30, 2022, as well as certain countries with higher risk profiles. The exposure is presented on an internal risk management basis and has not been reduced by the allowance for credit losses. We monitor our exposure to these and other countries as part of our internal country risk management process.

The country risk exposure below reflects the Company’s risk to an immediate default of the counterparty or obligor based on the country of residence of the entity which incurs the liability. If there is credit risk mitigation, the country of residence of the entity providing the risk mitigation is the country of risk. The country of risk for securities is generally based on the domicile of the issuer of the security.

Country risk exposure at Sept. 30, 2022	Interest-bearing deposits											Total exposure
(in billions)	Central banks		Banks			Lending (a)		Securities (b)		Other (c)
Top 10 country exposure:
Germany	$	24.1	$	1.0		$	0.8	$	4.1	$	0.5	$	30.5
United Kingdom (“UK”)	12.0		0.2			1.3		3.7		2.9		20.1
Belgium	7.5		0.6			0.1		0.1		—		8.3
Canada	—		1.7			0.6		3.6		2.2		8.1
Japan	5.1		0.4			0.1		0.5		0.1		6.2
Luxembourg	0.2		0.2			1.4		0.1		1.5		3.4
Ireland	0.2		0.3			0.3		0.1		2.2		3.1
South Korea	0.1		—			2.4		0.1		0.3		2.9
Singapore	—		0.4			0.1		1.3		1.1		2.9
France	—		—			0.2		2.2		0.4		2.8
Total Top 10 country exposure	$	49.2	$	4.8		$	7.3	$	15.8	$	11.2	$	88.3	(d)
Select country exposure:
Brazil	$	—	$	—		$	0.9	$	0.1	$	0.2	$	1.2
Russia	—		0.2		(e)	—		—		—		0.2
Total select country exposure	$	—	$	0.2		$	0.9	$	0.1	$	0.2	$	1.4

(a)    Lending includes loans, acceptances, issued letters of credit, net of participations, and lending-related commitments.

(b)    Securities includes both the available-for-sale and held-to-maturity portfolios.

(c)    Other exposures include over-the-counter (“OTC”) derivative and securities financing transactions, net of collateral.

(d)    The top 10 country exposures comprise approximately 75% of our total non-U.S. exposure.

(e)    Represents cash balances with exposure to Russia.

Events in recent years have resulted in increased focus on Brazil. The country risk exposure to Brazil is primarily short-term trade finance loans extended to large financial institutions. We also have operations in Brazil providing investment services and investment management services.

The war in Ukraine has increased our focus on Russia. The country risk exposure to Russia consists of cash balances related to our securities services businesses and may increase in the future to the extent cash is received for the benefit of our clients that is subject to distribution restrictions. BNY Mellon has ceased new banking business in Russia and suspended investment management purchases of Russian securities. At Sept. 30, 2022, less than 0.1%

of our AUC/A and less than 0.01% of our AUM consisted of Russian securities. We will continue to work with multinational clients that depend on our custody and record keeping services to manage their exposures.

Securities

In the discussion of our securities portfolio, we have included certain credit ratings information because the information can indicate the degree of credit risk to which we are exposed. Significant changes in ratings classifications could indicate increased credit risk for us and could be accompanied by an increase in the allowance for credit losses and/or a reduction in the fair value of our securities portfolio.

BNY Mellon 25

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

Securities portfolio	June 30, 2022			3Q22 change in unrealized gain (loss)		Sept. 30, 2022					Fair value as a % of amortized cost (a)		Unrealized gain (loss)			% Floating rate (b)		Ratings (c)
																						BBB+/ BBB-		BB+ and lower
(dollars in millions)	Fair value					Amortized cost (a)		Fair value										AAA/ AA-		A+/ A-						Not rated
U.S. Treasury	$	42,547		$	(426)	$	41,617	$	40,031		96	%	$	(1,586)		56	%	100	%	—	%	—	%	—	%	—	%
Agency RMBS	42,241			(1,839)		44,081		39,035			89		(5,046)			15		100		—		—		—		—
Agency commercial mortgage-backed securities (“MBS”)	12,257			(294)		12,840		12,005			93		(835)			41		100		—		—		—		—
Sovereign debt/sovereign guaranteed (d)	12,577			(259)		12,280		11,697			95		(583)			20		88		5		6		1		—
Supranational	7,949			(112)		8,429		8,135			97		(294)			62		100		—		—		—		—
Collateralized loan obligations (“CLOs”)	6,046			(43)		6,408		6,181			96		(227)			100		99		—		—		—		1
U.S. government agencies	5,671			(186)		6,386		5,807			91		(579)			35		100		—		—		—		—
Foreign covered bonds (e)	5,831			(74)		5,546		5,293			95		(253)			54		100		—		—		—		—
Non-agency commercial MBS	3,045			(69)		3,270		2,976			91		(294)			52		100		—		—		—		—
Foreign government agencies (f)	2,599			(20)		2,509		2,404			96		(105)			29		92		8		—		—		—
Non-agency RMBS	2,346			(62)		2,306		2,143			93		(163)			50		85		3		—		8		4
State and political subdivisions	2,049			(59)		2,200		1,914			87		(286)			25		90		9		—		—		1
Other asset-backed securities (“ABS”)	1,668			(26)		1,594		1,465			92		(129)			19		100		—		—		—		—
Corporate bonds	1,342			(26)		1,409		1,270			90		(139)			47		17		68		15		—		—
Other	1			—		1		1			100		—			—		—		—		—		—		100
Total securities	$	148,169	(g)	$	(3,495)	$	150,876	$	140,357	(g)	93	%	$	(10,519)	(g)(h)	40	%	98	%	1	%	1	%	—	%	—	%

(a)    Amortized cost reflects historical impairments, and is net of the allowance for credit losses.

(b)    Includes the impact of hedges.

(c)    Represents ratings by Standard & Poor’s (“S&P”) or the equivalent.

(d)    Primarily consists of exposure to Germany, UK, France, Singapore, Canada and Italy.

(e)    Primarily consists of exposure to Canada, UK, Australia, Germany and Norway.

(f)    Primarily consists of exposure to Canada, Norway, the Netherlands, Sweden, Finland and France.

(g)    Includes net unrealized gains on derivatives hedging securities available-for-sale (including terminated hedges) of $1,764 million at June 30, 2022 and $2,948 million at Sept. 30, 2022.

(h)    At Sept. 30, 2022, includes net unrealized losses of $3,747 million related to available-for-sale securities, net of hedges, and $6,772 million related to held-to-maturity securities.

The fair value of our securities portfolio, including related hedges, was $140.4 billion at Sept. 30, 2022, compared with $158.0 billion at Dec. 31, 2021. The decrease primarily reflects unrealized pre-tax losses and lower agency RMBS, partially offset by an increase in U.S. Treasury securities.

At Sept. 30, 2022, the securities portfolio had a net unrealized loss, including the impact of related hedges, of $10.5 billion, compared with a net unrealized gain, including the impact of related hedges, of $384 million at Dec. 31, 2021. The increase in the net unrealized loss, including the impact of hedges, was primarily driven by higher market interest rates.

The fair value of the available-for-sale securities totaled $89.9 billion at Sept. 30, 2022, net of hedges, or 64% of the securities portfolio, net of hedges. The fair value of the held-to-maturity securities totaled $50.5 billion at Sept. 30, 2022, or 36% of the securities portfolio, net of hedges.

The unrealized loss (after-tax) on our available-for-sale securities portfolio, net of hedges, included in accumulated other comprehensive income was $2.8 billion at Sept. 30, 2022, compared with an unrealized gain (after-tax), net of hedges, of $362 million at Dec. 31, 2021. The increase in the unrealized loss, net of tax, was primarily driven by higher market interest rates.

At Sept. 30, 2022, 98% of the securities in our portfolio were rated AAA/AA-, compared with 96% at Dec. 31, 2021.

See Note 4 of the Notes to Consolidated Financial Statements for the pre-tax net securities gains (losses) by security type. See Note 15 of the Notes to Consolidated Financial Statements for securities by level in the fair value hierarchy.

26 BNY Mellon

The following table presents the amortizable purchase premium (net of discount) related to the securities portfolio and accretable discount related to the 2009 restructuring of the securities portfolio.

Net premium amortization and discount accretion of securities (a)
(dollars in millions)	3Q22		2Q22		1Q22		4Q21		3Q21
Amortizable purchase premium (net of discount) relating to securities:
Balance at period-end	$	1,435	$	1,541	$	1,761	$	1,972	$	2,120
Estimated average life remaining at period-end (in years)	4.7		4.7		4.7		4.4		4.5
Amortization	$	87	$	105	$	130	$	158	$	168
Accretable discount related to the prior restructuring of the securities portfolio:
Balance at period-end	$	49	$	55	$	62	$	109	$	115
Estimated average life remaining at period-end (in years)	8.2		7.3		7.0		6.1		6.0
Accretion	$	5	$	7	$	9	$	11	$	11

(a)    Amortization of purchase premium decreases net interest revenue while accretion of discount increases net interest revenue. Both were recorded on a level yield basis.

Loans

Total exposure – consolidated	Sept. 30, 2022						Dec. 31, 2021
(in billions)	Loans		Unfunded commitments		Total exposure		Loans		Unfunded commitments		Total exposure
Financial institutions	$	11.1	$	33.2	$	44.3	$	10.2	$	30.6	$	40.8
Commercial	2.1		11.6		13.7		2.1		11.9		14.0
Wealth management loans	10.7		0.6		11.3		9.8		0.5		10.3
Wealth management mortgages	8.9		0.3		9.2		8.2		0.4		8.6
Commercial real estate	6.3		3.6		9.9		6.0		3.3		9.3
Lease financings	0.7		—		0.7		0.7		—		0.7
Other residential mortgages	0.4		—		0.4		0.3		—		0.3
Overdrafts	5.1		—		5.1		3.1		—		3.1
Capital call financing	4.0		2.8		6.8		2.3		1.5		3.8
Other	2.8		—		2.8		2.6		—		2.6
Margin loans	17.7		—		17.7		22.5		—		22.5
Total	$	69.8	$	52.1	$	121.9	$	67.8	$	48.2	$	116.0

At Sept. 30, 2022, total lending-related exposure of $121.9 billion increased 5% compared with Dec. 31, 2021, primarily reflecting higher exposure in the financial institutions and capital call financing portfolios, higher overdrafts and higher exposure to the wealth management loans and wealth management mortgages portfolios, partially offset by lower margin loans.

Our financial institutions and commercial portfolios comprise our largest concentrated risk. These portfolios comprised 48% of our total exposure at Sept. 30, 2022 and 47% at Dec. 31, 2021. Additionally, most of our overdrafts relate to financial institutions.

BNY Mellon 27

Financial institutions

The financial institutions portfolio is shown below.

Financial institutions portfolio exposure (dollars in billions)	Sept. 30, 2022										Dec. 31, 2021
	Loans		Unfunded commitments		Total exposure		% Inv. grade		% due <1 yr.		Loans		Unfunded commitments		Total exposure
Securities industry	$	1.7	$	18.8	$	20.5	98	%	95	%	$	1.7	$	17.5	$	19.2
Asset managers	1.6		8.0		9.6		99		83		1.7		7.1		8.8
Banks	7.3		1.5		8.8		87		97		5.8		1.5		7.3
Insurance	0.1		3.7		3.8		100		9		0.2		3.4		3.6
Government	—		0.3		0.3		100		46		0.1		0.2		0.3
Other	0.4		0.9		1.3		97		62		0.7		0.9		1.6
Total	$	11.1	$	33.2	$	44.3	96	%	84	%	$	10.2	$	30.6	$	40.8

The financial institutions portfolio exposure was $44.3 billion at Sept. 30, 2022, an increase of 9% compared with Dec. 31, 2021, primarily reflecting higher exposure in the banks, securities industry and asset managers portfolios.

Financial institution exposures are high quality, with 96% of the exposures meeting the investment grade equivalent criteria of our internal credit rating classification at Sept. 30, 2022. Each customer is assigned an internal credit rating, which is mapped to an equivalent external rating agency grade based upon a number of dimensions, which are continually evaluated and may change over time. For ratings of non-U.S. counterparties, our internal credit rating is generally capped at a rating equivalent to the sovereign rating of the country where the counterparty resides, regardless of the internal credit rating assigned to the counterparty or the underlying collateral.

The exposure to financial institutions is generally short term, with 84% of the exposures expiring within one year. At Sept. 30, 2022, 55% of the exposure to financial institutions had an expiration within 90 days, compared with 17% at Dec. 31, 2021.

In addition, 66% of the financial institutions exposure is secured. For example, securities industry clients

and asset managers often borrow against marketable securities held in custody.

At Sept. 30, 2022, the secured intra-day credit provided to dealers in connection with their tri-party repo activity totaled $16.9 billion and was included in the securities industry portfolio. Dealers secure the outstanding intra-day credit with high-quality liquid collateral having a market value in excess of the amount of the outstanding credit. Secured intraday credit facilities represent approximately 38% of the exposure in the financial institutions portfolio and are reviewed and reapproved annually.

The asset managers portfolio exposure is high quality, with 99% of the exposures meeting our investment grade equivalent ratings criteria as of Sept. 30, 2022. These exposures are generally short-term liquidity facilities, with the majority to regulated mutual funds.

Our banks portfolio exposure primarily relates to our global trade finance. These exposures are short term in nature, with 97% due in less than one year. The investment grade percentage of our banks portfolio exposure was 87% at Sept. 30, 2022, compared with 88% at Dec. 31, 2021. Our non-investment grade exposures are primarily trade finance loans in Brazil.

28 BNY Mellon

Commercial

The commercial portfolio is presented below.

Commercial portfolio exposure	Sept. 30, 2022										Dec. 31, 2021
(dollars in billions)	Loans		Unfunded commitments		Total exposure		% Inv. grade		% due <1 yr.		Loans		Unfunded commitments		Total exposure
Manufacturing	$	0.8	$	4.1	$	4.9	96	%	19	%	$	0.6	$	3.9	$	4.5
Services and other	1.0		3.1		4.1		96		38		1.0		3.2		4.2
Energy and utilities	0.2		3.7		3.9		94		4		0.4		3.9		4.3
Media and telecom	0.1		0.7		0.8		88		—		0.1		0.9		1.0
Total	$	2.1	$	11.6	$	13.7	95	%	20	%	$	2.1	$	11.9	$	14.0

The commercial portfolio exposure was $13.7 billion at Sept. 30, 2022, a decrease of 2% from Dec. 31, 2021, primarily reflecting lower exposure to the energy and utilities and media and telecom portfolios, partially offset by higher exposure to the manufacturing portfolios.

Our credit strategy is to focus on investment grade clients that are active users of our non-credit services. The following table summarizes the percentage of the financial institutions and commercial portfolio exposures that are investment grade.

Percentage of the portfolios that are investment grade
	Quarter ended
	Sept. 30, 2022		June 30, 2022		March 31, 2022		Dec. 31, 2021		Sept. 30, 2021
Financial institutions	96	%	96	%	97	%	96	%	96	%
Commercial	95	%	95	%	94	%	94	%	93	%

Wealth management loans

Our wealth management loan exposure was $11.3 billion at Sept. 30, 2022, compared with $10.3 billion

at Dec. 31, 2021. Wealth management loans primarily consist of loans to high-net-worth individuals, a majority of which are secured by the customers’ investment management accounts or custody accounts.

Wealth management mortgages

Our wealth management mortgage exposure was $9.2 billion at Sept. 30, 2022, compared with $8.6 billion at Dec. 31, 2021. Wealth management mortgages primarily consist of loans to high-net-worth individuals, which are secured by residential property. Wealth management mortgages are primarily interest-only, adjustable-rate mortgages with a weighted-average loan-to-value ratio of 61% at origination. At Sept. 30, 2022, less than 1% of the mortgages were past due.

At Sept. 30, 2022, the wealth management mortgage portfolio consisted of the following geographic concentrations: California – 21%; New York – 15%; Florida – 11%; Massachusetts – 8%; and other – 45%.

BNY Mellon 29

Commercial real estate

The composition of the commercial real estate portfolio by asset class, including percentage secured, is presented below.

Composition of commercial real estate portfolio by asset class	Sept. 30, 2022				Dec. 31, 2021
	Total exposure		Percentage secured (a)		Total exposure		Percentage secured (a)
(in billions)
Residential	$	3.9	85	%	$	3.6	81	%
Office	2.7		76		2.6		77
Retail	0.9		58		0.9		58
Mixed-use	0.8		33		0.7		37
Hotels	0.7		44		0.5		23
Healthcare	0.4		49		0.4		25
Other	0.5		63		0.6		45
Total commercial real estate	$	9.9	71	%	$	9.3	66	%

(a)    Represents the percentage of exposure secured by real estate in each asset class.

Our commercial real estate exposure totaled $9.9 billion at Sept. 30, 2022 and $9.3 billion at Dec. 31, 2021. Our income-producing commercial real estate facilities are focused on experienced owners and are structured with moderate leverage based on existing cash flows. Our commercial real estate lending activities also include construction and renovation facilities. Our client base consists of experienced developers and long-term holders of real estate assets. Loans are approved on the basis of existing or projected cash flows and supported by appraisals and knowledge of local market conditions. Development loans are structured with moderate leverage and, in many instances, involve some level of recourse to the developer.

At Sept. 30, 2022, the unsecured portfolio consisted of real estate investment trusts (“REITs”) and real estate operating companies, which are both primarily investment grade.

At Sept. 30, 2022, our commercial real estate portfolio consisted of the following concentrations: New York metro – 36%; REITs and real estate operating companies – 29%; and other – 35%.

Lease financings

The lease financings portfolio exposure totaled $702 million at Sept. 30, 2022 and $731 million at Dec. 31, 2021. At Sept. 30, 2022, approximately 99% of leasing exposure was investment grade, or investment grade equivalent and consisted of exposures backed by well-diversified assets, primarily real estate and large-ticket transportation equipment. The largest components of our lease residual value exposure

relate to aircraft and freight-related rail cars. Assets are both domestic and foreign-based, with primary concentrations in Germany and the U.S.

Other residential mortgages

The other residential mortgages portfolio primarily consists of 1-4 family residential mortgage loans and totaled $356 million at Sept. 30, 2022 and $299 million at Dec. 31, 2021. Included in this portfolio at Sept. 30, 2022 were $94 million of fixed-rate jumbo mortgage loans purchased in the second quarter of 2022 with a weighted-average loan-to-value ratio of 69% at origination.

Overdrafts

Overdrafts primarily relate to custody and securities clearance clients and are generally repaid within two business days.

Capital call financing

Capital call financing includes loans to private equity funds that are secured by the fund investors’ capital commitments and the funds’ rights to call capital.

Other loans

Other loans primarily include loans to consumers that are fully collateralized with equities, mutual funds and fixed-income securities.

30 BNY Mellon

Margin loans

Margin loan exposure of $17.7 billion at Sept. 30, 2022 and $22.5 billion at Dec. 31, 2021 was collateralized with marketable securities. Borrowers are required to maintain a daily collateral margin in

excess of 100% of the value of the loan. Margin loans included $5.3 billion at Sept. 30, 2022 and $7.7 billion at Dec. 31, 2021 related to a term loan program that offers fully collateralized loans to broker-dealers.

Allowance for credit losses

Our credit strategy is to focus on investment grade clients who are active users of our non-credit services. Our primary exposure to the credit risk of a customer consists of funded loans, unfunded contractual commitments to lend, standby letters of credit and overdrafts associated with our custody and securities clearance businesses.

The following table details changes in our allowance for credit losses.

Allowance for credit losses activity	Sept. 30, 2022			June 30, 2022			Dec. 31, 2021			Sept. 30, 2021
(dollars in millions)
Beginning balance of allowance for credit losses	$	310		$	263		$	291		$	335
Provision for credit losses	(30)			47			(17)			(45)
Net recoveries (charge-offs):
Loans:
Other residential mortgages	1			1			2			1
Other loans	—			—			(16)			—
Other financial instruments	(1)			(1)			—			—
Net recoveries (charge-offs)	—			—			(14)			1
Ending balance of allowance for credit losses	$	280		$	310		$	260		$	291
Allowance for loan losses	$	164		$	181		$	196		$	233
Allowance for lending-related commitments	72			62			45			40
Allowance for financial instruments (a)	44			67			19			18
Total allowance for credit losses	$	280		$	310		$	260		$	291
Total loans, at period end	$	69,829		$	69,347		$	67,787		$	64,328
Allowance for loan losses as a percentage of total loans	0.23		%	0.26		%	0.29		%	0.36		%
Allowance for loan losses and lending-related commitments as a percentage of total loans	0.34		%	0.35		%	0.36		%	0.42		%

(a)    Includes allowance for credit losses on federal funds sold and securities purchased under resale agreements, available-for-sale securities, held-to-maturity securities, accounts receivable, cash and due from banks and interest-bearing deposits with banks.

The provision for credit losses was a benefit of $30 million in the third quarter of 2022, primarily reflecting reserve releases related to cash balances with exposure to Russia and a modest benefit from our commercial real estate portfolio.

The allowance for loan losses and allowance for lending-related commitments represent management’s estimate of lifetime expected losses in our credit portfolio. This evaluation process is

subject to numerous estimates and judgments. To the extent actual results differ from forecasts or management’s judgment, the allowance for credit losses may be greater or less than future charge-offs.

Based on an evaluation of the allowance for credit losses as discussed in “Critical accounting estimates” in our 2021 Annual Report, we have allocated our allowance for loans and lending-related commitments as presented below.

BNY Mellon 31

Allocation of allowance for loan losses and   lending-related commitments (a)	Sept. 30, 2022				June 30, 2022				Dec. 31, 2021				Sept. 30, 2021
(dollars in millions)	$		%		$		%		$		%		$		%
Commercial real estate	$	176	74	%	$	184	75	%	$	199	82	%	$	226	82	%
Financial institutions	20		8		21		9		13		5		8		3
Commercial	17		7		16		6		12		5		10		3
Wealth management mortgages	9		4		7		3		6		2		4		1
Other residential mortgages	8		3		7		3		7		3		6		2
Capital call financing	4		2		6		2		2		1		1		1
Lease financings	1		1		1		1		1		1		1		1
Wealth management loans	1		1		1		1		1		1		1		1
Other loans	—		—		—		—		—		—		16		6
Total	$	236	100	%	$	243	100	%	$	241	100	%	$	273	100	%

(a)    The allowance allocated to margin loans and overdrafts was insignificant at Sept. 30, 2022, June 30, 2022, Dec. 31, 2021 and Sept. 30, 2021.

The allocation of the allowance for credit losses is inherently judgmental, and the entire allowance for credit losses is available to absorb credit losses regardless of the nature of the losses.

Our allowance for credit losses is sensitive to a number of inputs, most notably the credit ratings assigned to each borrower, as well as macroeconomic forecast assumptions that are incorporated in our estimate of credit losses through the expected life of the loan portfolio. Thus, as the macroeconomic environment and related forecasts change, the allowance for credit losses may change materially. The following sensitivity analyses do not represent management’s expectations of the deterioration of our portfolios or the economic environment, but are provided as hypothetical scenarios to assess the sensitivity of the allowance for credit losses to changes in key inputs. If commercial real estate property values were increased 10% and all other credit were rated one grade better, the quantitative allowance would have decreased by $32 million, and if commercial real estate property values were decreased 10% and all other credit were rated one grade worse, the quantitative allowance would have increased by $64 million. Our multi-scenario based macroeconomic forecast used in determining the Sept. 30, 2022 allowance for credit losses consisted of three scenarios. The baseline scenario reflects slowing GDP growth through the end of 2022, and slightly rising unemployment and moderating growth in commercial real estate prices through the end of 2023. The upside scenario reflects faster GDP growth, slightly declining unemployment and higher commercial real estate prices compared with the baseline. The downside scenario contemplates negative GDP growth through the first quarter of 2023 with subsequent stabilization as well as

increasing unemployment through 2023 and lower commercial real estate prices than the baseline. In the third quarter of 2022, we placed the most weight on our baseline scenario, followed by the downside scenario, with the remaining weighting placed on the upside scenario. From a sensitivity perspective, at Sept. 30, 2022, if we had applied 100% weighting to the downside scenario, the allowance for credit losses would have been approximately $96 million higher.

Nonperforming assets

The table below presents our nonperforming assets.

Nonperforming assets	Sept. 30, 2022			Dec. 31, 2021
(dollars in millions)
Nonperforming loans:
Commercial real estate	$	51		$	54
Other residential mortgages	33			39
Wealth management mortgages	20			25
Total nonperforming loans	104			118
Other assets owned	3			2
Total nonperforming assets	$	107		$	120
Nonperforming assets ratio	0.15		%	0.18		%
Allowance for loan losses/nonperforming loans	157.7			166.1
Allowance for loan losses/nonperforming assets	153.3			163.3
Total allowance for credit losses/nonperforming loans	226.9			204.2
Total allowance for credit losses/nonperforming assets	220.6			200.8

Deposits

Total deposits were $302.0 billion at Sept. 30, 2022, a decrease of 6%, compared with $319.7 billion at Dec. 31, 2021. The decrease reflects lower interest-bearing deposits in U.S. offices, noninterest-bearing

32 BNY Mellon

deposits (principally U.S. offices) and interest-bearing deposits in non-U.S. offices.

Noninterest-bearing deposits were $88.3 billion at Sept. 30, 2022, compared with $93.7 billion at Dec. 31, 2021. Interest-bearing deposits were primarily demand deposits and totaled $213.7 billion at Sept. 30, 2022, compared with $226.0 billion at Dec. 31, 2021.

Short-term borrowings

We fund ourselves primarily through deposits and, to a lesser extent, other short-term borrowings and long-term debt. Short-term borrowings consist of federal funds purchased and securities sold under repurchase agreements, payables to customers and broker-dealers, commercial paper and other borrowed funds. Certain short-term borrowings, for example, securities sold under repurchase agreements, require the delivery of securities as collateral.

Federal funds purchased and securities sold under repurchase agreements include repurchase agreement activity with the Fixed Income Clearing Corporation (“FICC”), where we record interest expense on a gross basis, but the ending and average balances reflect the impact of offsetting under enforceable netting agreements. This activity primarily relates to government securities collateralized resale and repurchase agreements executed with clients that are novated to and settle with the FICC.

Payables to customers and broker-dealers represent funds awaiting reinvestment and short sale proceeds payable on demand. Payables to customers and broker-dealers are driven by customer trading activity and market volatility.

The Bank of New York Mellon may issue commercial paper that matures within 397 days from the date of issue and is not redeemable prior to maturity or subject to voluntary prepayment.

Other borrowed funds primarily include overdrafts of sub-custodian account balances in our Securities Services businesses, finance lease liabilities, and borrowings under lines of credit by our Pershing subsidiaries. Overdrafts typically relate to timing differences for settlements.

Liquidity and dividends

BNY Mellon defines liquidity as the ability of the Parent and its subsidiaries to access funding or convert assets to cash quickly and efficiently, or to roll over or issue new debt, especially during periods of market stress, at a reasonable cost, and in order to meet its short-term (up to one year) obligations. Funding liquidity risk is the risk that BNY Mellon cannot meet its cash and collateral obligations at a reasonable cost for both expected and unexpected cash flow and collateral needs without adversely affecting daily operations or our financial condition. Funding liquidity risk can arise from funding mismatches, market constraints from the inability to convert assets into cash, the inability to hold or raise cash, low overnight deposits, deposit run-off or contingent liquidity events.

Changes in economic conditions or exposure to credit, market, operational, legal and reputational risks also can affect BNY Mellon’s liquidity risk profile and are considered in our liquidity risk framework. For additional information, see “Risk Management – Liquidity Risk” in our 2021 Annual Report.

The Parent’s policy is to have access to sufficient unencumbered cash and cash equivalents at each quarter-end to cover maturities and other forecasted debt redemptions, net interest payments and net tax payments for the following 18-month period, and to provide sufficient collateral to satisfy transactions subject to Section 23A of the Federal Reserve Act. As of Sept. 30, 2022, the Parent was in compliance with this policy.

We monitor and control liquidity exposures and funding needs within and across significant legal entities, branches, currencies and business lines, taking into account, among other factors, any applicable restrictions on the transfer of liquidity among entities.

BNY Mellon also manages potential intraday liquidity risks. We monitor and manage intraday liquidity against existing and expected intraday liquid resources (such as cash balances, remaining intraday credit capacity, intraday contingency funding and available collateral) to enable BNY Mellon to meet its intraday obligations under normal and reasonably severe stressed conditions.

BNY Mellon 33

We define available funds for internal liquidity management purposes as cash and due from banks, interest-bearing deposits with the Federal Reserve

and other central banks, interest-bearing deposits with banks and federal funds sold and securities purchased under resale agreements.

The following table presents our total available funds at period end and on an average basis.

Available funds	Sept. 30, 2022			Dec. 31, 2021			Average
(dollars in millions)							3Q22			2Q22			3Q21			YTD22			YTD21
Cash and due from banks	$	4,707		$	6,061		$	5,089		$	5,640		$	5,990		$	5,585		$	5,884
Interest-bearing deposits with the Federal Reserve and other central banks	107,427			102,467			91,836			102,844			108,110			98,310			116,136
Interest-bearing deposits with banks	13,890			16,630			16,298			18,097			20,465			17,189			21,411
Federal funds sold and securities purchased under resale agreements	23,483			29,607			22,971			24,212			29,304			24,715			28,783
Total available funds	$	149,507		$	154,765		$	136,194		$	150,793		$	163,869		$	145,799		$	172,214
Total available funds as a percentage of total assets	35		%	35		%	33		%	34		%	37		%	34		%	38		%

Total available funds were $149.5 billion at Sept. 30, 2022, compared with $154.8 billion at Dec. 31, 2021. The decrease was primarily due to lower federal funds sold and securities purchased under resale agreements and interest-bearing deposits with banks, partially offset by higher interest-bearing deposits with the Federal Reserve and other central banks.

Average non-core sources of funds, such as federal funds purchased and securities sold under repurchase agreements, trading liabilities, other borrowed funds and commercial paper were $16.4 billion for the first nine months of 2022 and $16.9 billion for the first nine months of 2021. The decrease primarily reflects lower federal funds purchased and securities sold under repurchase agreements, partially offset by higher trading liabilities and other borrowed funds.

Average interest-bearing foreign deposits, primarily from our European-based businesses included in the Securities Services and Market and Wealth Services segments, were $103.0 billion for the first nine months of 2022, compared with $112.9 billion for the first nine months of 2021. Average interest-bearing domestic deposits were $112.3 billion for the first nine months of 2022 and $126.4 billion for the first nine months of 2021. The decreases primarily reflect client activity.

Average payables to customers and broker-dealers were $17.1 billion for the first nine months of 2022 and $17.0 billion for the first nine months of 2021.

Payables to customers and broker-dealers are driven by customer trading activity and market volatility.

Average long-term debt was $26.8 billion for the first nine months of 2022 and $25.7 billion for the first nine months of 2021.

Average noninterest-bearing deposits increased to $89.0 billion for the first nine months of 2022 from $84.9 billion for the first nine months of 2021, primarily reflecting client activity.

A significant reduction of client activity in our Securities Services and Market and Wealth Services business segments would reduce our access to deposits. See “Asset/liability management” for additional factors that could impact our deposit balances.

Sources of liquidity

The Parent’s major sources of liquidity are access to the debt and equity markets, dividends from its subsidiaries, and cash on hand and cash otherwise made available in business-as-usual circumstances to the Parent through a committed credit facility with our intermediate holding company (“IHC”).

Our ability to access the capital markets on favorable terms, or at all, is partially dependent on our credit ratings, which are as follows:

34 BNY Mellon

Credit ratings at Sept. 30, 2022
	Moody’s		S&P	Fitch		DBRS
Parent:
Long-term senior debt	A1		A	AA-		AA
Subordinated debt	A2		A-	A		AA (low)
Preferred stock	Baa1		BBB	BBB+		A
Outlook – Parent	Stable		Stable	Stable		Stable
The Bank of New York Mellon:
Long-term senior debt	Aa2		AA-	AA		AA (high)
Subordinated debt	NR		A	NR		NR
Long-term deposits	Aa1		AA-	AA+		AA (high)
Short-term deposits	P1		A-1+	F1+		R-1 (high)
Commercial paper	P1		A-1+	F1+		R-1 (high)
BNY Mellon, N.A.:
Long-term senior debt	Aa2	(a)	AA-	AA	(a)	AA (high)
Long-term deposits	Aa1		AA-	AA+		AA (high)
Short-term deposits	P1		A-1+	F1+		R-1 (high)
Outlook – Banks	Stable		Stable	Stable		Stable

(a)    Represents senior debt issuer default rating.

NR – Not rated.

Long-term debt totaled $27.8 billion at Sept. 30, 2022 and $25.9 billion at Dec. 31, 2021. Issuances of $6.7 billion were partially offset by redemptions and maturities of $3.3 billion and a decrease in the fair value of hedged long-term debt. No long-term debt will mature in the fourth quarter of 2022.

In October 2022, the Parent issued $1.0 billion of fixed to floating rate senior notes maturing in 2028. The annual fixed interest rate is 5.802% from issuance to, but excluding, Oct. 25, 2027, and then an annual interest rate of the compounded secured overnight financing rate (“SOFR”) plus 180.2 basis points. The Parent also issued $1.5 billion of fixed to floating rate senior notes maturing in 2033. The annual fixed interest rate is 5.834% from issuance to, but excluding, Oct. 25, 2032, and then an annual interest rate of the compounded SOFR plus 207.4 basis points.

In October 2022, the Parent redeemed all of the issued and outstanding floating rate senior notes due Oct. 30, 2023 at par plus any accrued and unpaid interest. The notes have an aggregate principal amount of $750 million.

The Bank of New York Mellon may issue notes and certificates of deposit (“CDs”). At Sept. 30, 2022 and Dec. 31, 2021, $30 million of notes were outstanding. At Sept. 30, 2022, $20 million of CDs were outstanding. There were no CDs outstanding at Dec. 31, 2021.

The Bank of New York Mellon also issues commercial paper that matures within 397 days from the date of issue and is not redeemable prior to maturity or subject to voluntary prepayment. There was no commercial paper outstanding at Sept. 30, 2022 and Dec. 31, 2021. The average commercial paper outstanding was $5 million for the first nine months of 2022 and $4 million for the first nine months of 2021.

Subsequent to Sept. 30, 2022, our U.S. bank subsidiaries could declare dividends to the Parent of approximately $3.0 billion, without the need for a regulatory waiver. In addition, at Sept. 30, 2022, non-bank subsidiaries of the Parent had liquid assets of approximately $4.8 billion. Restrictions on our ability to obtain funds from our subsidiaries are discussed in more detail in “Supervision and Regulation – Capital Planning and Stress Testing – Payment of Dividends, Stock Repurchases and Other Capital Distributions” and in Note 19 of the Notes to Consolidated Financial Statements, both in our 2021 Annual Report.

Pershing LLC has uncommitted lines of credit in place for liquidity purposes that are guaranteed by the Parent. Pershing LLC has two separate uncommitted lines of credit amounting to $350 million in aggregate. There were no average borrowings under these lines in the third quarter of 2022. Pershing Limited, an indirect UK-based subsidiary of BNY Mellon, has two separate uncommitted lines of credit

BNY Mellon 35

amounting to $254 million in aggregate. Average borrowings under these lines were less than $1 million in the third quarter of 2022.

The double leverage ratio is the ratio of our equity investment in subsidiaries divided by our consolidated Parent company equity, which includes our noncumulative perpetual preferred stock. In short, the double leverage ratio measures the extent to which equity in subsidiaries is financed by Parent company debt. As the double leverage ratio increases, this can reflect greater demands on a company’s cash flows in order to service interest payments and debt maturities. BNY Mellon’s double leverage ratio is managed in a range considering the high level of unencumbered available liquid assets held in its principal subsidiaries (such as central bank deposit placements and government securities), the Company’s cash generating fee-based business model, with fee revenue representing 76% of total revenue in the third quarter of 2022, and the dividend capacity of our banking subsidiaries. Our double leverage ratio was 119.6% at Sept. 30, 2022 and 119.3% at Dec. 31, 2021, and within the range targeted by management.

Uses of funds

The Parent’s major uses of funds are repurchases of common stock, payment of dividends, principal and interest payments on its borrowings, acquisitions and additional investments in its subsidiaries.

In August 2022, a quarterly dividend of $0.37 per common share was paid to common shareholders. Our common stock dividend payout ratio was 95% for the third quarter of 2022.

In the third quarter of 2022, we repurchased 36 thousand common shares at an average price of $48.07 per common share, for a total cost of $1 million.

Liquidity coverage ratio (“LCR”)

U.S. regulators have established an LCR that requires certain banking organizations, including BNY Mellon, to maintain a minimum amount of unencumbered high-quality liquid assets (“HQLA”) sufficient to withstand the net cash outflow under a hypothetical standardized acute liquidity stress scenario for a 30-day time horizon.

The following table presents BNY Mellon’s consolidated HQLA at Sept. 30, 2022, and the average HQLA and average LCR for the third quarter of 2022.

Consolidated HQLA and LCR	Sept. 30, 2022
(dollars in billions)
Cash (a)	$	107
Securities (b)	104
Total consolidated HQLA (c)	$	211
Total consolidated HQLA – average (c)	$	198
Average LCR	116		%

(a)    Primarily includes cash on deposit with central banks.

(b)    Primarily includes securities of U.S. government-sponsored enterprises, U.S. Treasury, sovereign securities, U.S. agency and investment-grade corporate debt.

(c)    Consolidated HQLA presented before adjustments. After haircuts and the impact of trapped liquidity, consolidated HQLA totaled $148 billion at Sept. 30, 2022 and averaged $136 billion for the third quarter of 2022.

BNY Mellon and each of our affected domestic bank subsidiaries were compliant with the U.S. LCR requirements of at least 100% throughout the third quarter of 2022.

Statement of cash flows

The following summarizes the activity reflected on the consolidated statement of cash flows. While this information may be helpful to highlight certain macro trends and business strategies, the cash flow analysis may not be as relevant when analyzing changes in our net earnings and net assets. We believe that in addition to the traditional cash flow analysis, the discussion related to liquidity and dividends and asset/liability management herein may provide more useful context in evaluating our liquidity position and related activity.

Net cash provided by operating activities was $12.1 billion in the nine months ended Sept. 30, 2022, compared with net cash used for operating activities of $291 million in the nine months ended Sept. 30, 2021. In the nine months ended Sept. 30, 2022, cash flows provided by operations primarily resulted from changes in trading assets and liabilities and earnings. In the nine months ended Sept. 30, 2021, cash flows used for operations primarily resulted from changes in trading assets and liabilities, partially offset by earnings.

Net cash used for investing activities was $5.3 billion in the nine months ended Sept. 30, 2022, compared

36 BNY Mellon

with net cash used for investing activities of $259 million in the nine months ended Sept. 30, 2021. In the nine months ended Sept. 30, 2022, net cash used for investing activities primarily resulted from changes in interest-bearing deposits with the Federal Reserve and other central banks, partially offset by changes in federal funds sold and securities purchased under resale agreements. In the nine months ended Sept. 30, 2021, net cash used for investing activities primarily resulted from the net change in loans and securities, partially offset by changes in interest-bearing deposits with the Federal Reserve and other central banks.

Net cash used for financing activities was $7.5 billion in the nine months ended Sept. 30, 2022, compared

with net cash provided by financing activities of $2.2 billion in the nine months ended Sept. 30, 2021. In the nine months ended Sept. 30, 2022, net cash used for financing activities primarily resulted from changes in deposits, repayments of long-term debt and changes in payables to customers and broker-dealers, partially offset by proceeds from the issuance of long-term debt. In the nine months ended Sept. 30, 2021, net cash provided by financing activities primarily resulted from changes in deposits, issuances of long-term debt and changes in payables to customers and broker-dealers, partially offset by repayments of long-term debt and common stock repurchases.

Capital

Capital data	Sept. 30, 2022			June 30, 2022			Dec. 31, 2021
(dollars in millions, except per share amounts; common shares in thousands)
BNY Mellon shareholders’ equity to total assets ratio	9.3		%	9.1		%	9.7		%
BNY Mellon common shareholders’ equity to total assets ratio	8.2		%	8.0		%	8.6		%
Total BNY Mellon shareholders’ equity	$	39,737		$	40,984		$	43,034
Total BNY Mellon common shareholders’ equity	$	34,899		$	36,146		$	38,196
BNY Mellon tangible common shareholders’ equity – Non-GAAP (a)	$	17,420		$	17,796		$	19,547
Book value per common share	$	43.18		$	44.73		$	47.50
Tangible book value per common share – Non-GAAP (a)	$	21.55		$	22.02		$	24.31
Closing stock price per common share	$	38.52		$	41.71		$	58.08
Market capitalization	$	31,135		$	33,706		$	46,705
Common shares outstanding	808,280			808,103			804,145
Cash dividends per common share	$	0.37		$	0.34		$	0.34
Common dividend payout ratio	95		%	33		%	34		%
Common dividend yield (annualized)	3.8		%	3.3		%	2.3		%

(a)    See “Supplemental information – Explanation of GAAP and Non-GAAP financial measures” beginning on page 45 for a reconciliation of GAAP to Non-GAAP.

The Bank of New York Mellon Corporation total shareholders’ equity decreased to $40 billion at Sept. 30, 2022 from $43 billion at Dec. 31, 2021. The decrease primarily reflects unrealized losses on securities available-for-sale, foreign currency translation and dividend payments, partially offset by earnings.

The unrealized loss (after-tax) on our available-for-sale securities portfolio, net of hedges, included in accumulated other comprehensive income was $2.8 billion at Sept. 30, 2022, compared with an unrealized gain (after-tax), net of hedges, of $362 million at Dec. 31, 2021. The increase in the unrealized loss, net of

tax, was primarily driven by higher market interest rates.

In the first nine months of 2022, we repurchased 2.0 million common shares at an average price of $61.38 per common share for a total of $122 million.

In June 2021, our Board of Directors authorized the repurchase of up to $6.0 billion of common shares over the six quarters beginning in the third quarter of 2021 and continuing through the fourth quarter of 2022. This share repurchase plan replaced all previously authorized share repurchase plans.

BNY Mellon 37

In July, our Board of Directors approved a 9% increase in the quarterly cash dividend on common stock, from $0.34 to $0.37 per share. The increased quarterly cash dividend was paid on Aug. 5, 2022.

Capital adequacy

Regulators establish certain levels of capital for bank holding companies (“BHCs”) and banks, including BNY Mellon and our bank subsidiaries, in accordance with established quantitative measurements. For the Parent to maintain its status as a financial holding company, our U.S. bank subsidiaries and BNY Mellon must, among other things, qualify as “well capitalized.” As of Sept. 30, 2022 and Dec. 31, 2021, BNY Mellon and our U.S. bank subsidiaries were “well capitalized.” Failure to satisfy regulatory standards, including “well capitalized” status or capital adequacy rules more

generally, could result in limitations on our activities and adversely affect our financial condition. See the discussion of these matters in “Supervision and Regulation – Regulated Entities of BNY Mellon and Ancillary Regulatory Requirements” and “Risk Factors – Capital and Liquidity Risk – Failure to satisfy regulatory standards, including “well capitalized” and “well managed” status or capital adequacy and liquidity rules more generally, could result in limitations on our activities and adversely affect our business and financial condition,” both of which are in our 2021 Annual Report.

The U.S. banking agencies’ capital rules are based on the framework adopted by the Basel Committee on Banking Supervision, as amended from time to time. For additional information on these capital requirements, see “Supervision and Regulation” in our 2021 Annual Report.

The table below presents our consolidated and largest bank subsidiary regulatory capital ratios.

Consolidated and largest bank subsidiary regulatory capital ratios	Sept. 30, 2022								June 30, 2022		Dec. 31, 2021
	Well capitalized			Minimum required			Capital ratios		Capital ratios		Capital ratios
						(a)
Consolidated regulatory capital ratios: (b)
Advanced Approaches:
CET1 ratio	N/A		(c)	8.5	%		10.1	%	10.0	%	11.4	%
Tier 1 capital ratio	6	%		10			13.0		12.8		14.2
Total capital ratio	10			12			13.7		13.6		15.0
Standardized Approach:
CET1 ratio	N/A		(c)	8.5	%		10.0	%	10.1	%	11.2	%
Tier 1 capital ratio	6	%		10			12.8		12.9		14.0
Total capital ratio	10			12			13.7		13.8		14.9
Tier 1 leverage ratio	N/A		(c)	4			5.4		5.2		5.5
SLR (d)	N/A		(c)	5			6.3		6.2		6.6
The Bank of New York Mellon regulatory capital ratios: (b)
Advanced Approaches:
CET1 ratio	6.5	%		7	%		14.6	%	14.4	%	16.5	%
Tier 1 capital ratio	8			8.5			14.6		14.4		16.5
Total capital ratio	10			10.5			14.6		14.5		16.5
Tier 1 leverage ratio	5			4			6.0		5.8		6.0
SLR (d)	6			3			7.4		7.2		7.6

(a)    Minimum requirements for Sept. 30, 2022 include minimum thresholds plus currently applicable buffers. The U.S. global systemically important banks (“G-SIB”) surcharge is 1.5%. The countercyclical capital buffer is currently set to 0%. The stress capital buffer (“SCB”) requirement is 2.5%, equal to the regulatory minimum for Standardized Approach capital ratios.

(b)    For our CET1, Tier 1 capital and Total capital ratios, our effective capital ratios under U.S. capital rules are the lower of the ratios as calculated under the Standardized and Advanced Approaches. The Tier 1 leverage ratio is based on Tier 1 capital and quarterly average total assets.

(c)    The Federal Reserve’s regulations do not establish well capitalized thresholds for these measures for BHCs.

(d)    The SLR is based on Tier 1 capital and total leverage exposure, which includes certain off-balance sheet exposures.

38 BNY Mellon

Our CET1 ratio under the Standardized Approach was 10.0% at Sept. 30, 2022 and 11.2% at Dec. 31, 2021. The decrease was primarily driven by unrealized losses on securities available-for-sale, foreign currency translation and capital deployed through dividends, partially offset by capital generated through earnings.

In the first quarter of 2022, we implemented the Standardized Approach for Counterparty Credit Risk (“SA-CCR”), which replaced the current exposure method used to measure derivative counterparty exposure.

The Tier 1 leverage ratio was 5.4% at Sept. 30, 2022, compared with 5.5% at Dec. 31, 2021. The decrease reflects the decrease in capital, partially offset by the benefit of lower average assets.

Risk-based capital ratios vary depending on the size of the balance sheet at period-end and the levels and types of investments in assets, and leverage ratios vary based on the average size of the balance sheet over the quarter. The balance sheet size fluctuates from period to period based on levels of customer and market activity. In general, when servicing clients are more actively trading securities, deposit balances and the balance sheet as a whole are higher. In addition, when markets experience significant volatility or stress, our balance sheet size may increase considerably as client deposit levels increase.

Our capital ratios are necessarily subject to, among other things, anticipated compliance with all necessary enhancements to model calibration, approval by regulators of certain models used as part of RWA calculations, other refinements, further implementation guidance from regulators, market practices and standards and any changes BNY Mellon may make to its businesses. As a consequence of these factors, our capital ratios may materially change, and may be volatile over time and from period to period.

Under the Advanced Approaches, our operational loss risk model is informed by external losses, including fines and penalties levied against institutions in the financial services industry, particularly those that relate to businesses in which we operate, and as a result, external losses have impacted and could in the future impact the amount of capital that we are required to hold.

The following table presents our capital components and RWAs.

Capital components and risk-weighted assets
	Sept. 30, 2022		June 30, 2022		Dec. 31, 2021
(in millions)
CET1:
Common shareholders’ equity	$	34,899	$	36,146	$	38,196
Adjustments for:
Goodwill and intangible assets (a)	(17,479)		(18,350)		(18,649)
Net pension fund assets	(368)		(388)		(400)
Embedded goodwill	(276)		(291)		(300)
Deferred tax assets	(50)		(53)		(55)
Other	—		3		(46)
Total CET1	16,726		17,067		18,746
Other Tier 1 capital:
Preferred stock	4,838		4,838		4,838
Other	(69)		(81)		(99)
Total Tier 1 capital	$	21,495	$	21,824	$	23,485
Tier 2 capital:
Subordinated debt	$	1,248	$	1,248	$	1,248
Allowance for credit losses	271		300		250
Other	(6)		(6)		(11)
Total Tier 2 capital – Standardized Approach	1,513		1,542		1,487
Excess of expected credit losses	25		46		—
Less: Allowance for credit losses	271		300		250
Total Tier 2 capital – Advanced Approaches	$	1,267	$	1,288	$	1,237
Total capital:
Standardized Approach	$	23,008	$	23,366	$	24,972
Advanced Approaches	$	22,762	$	23,112	$	24,722
Risk-weighted assets:
Standardized Approach	$	167,457	$	169,710	$	167,608
Advanced Approaches:
Credit Risk	$	94,337	$	97,703	$	98,310
Market Risk	3,031		3,541		3,069
Operational Risk	68,525		68,675		63,688
Total Advanced Approaches	$	165,893	$	169,919	$	165,067
Average assets for Tier 1 leverage ratio	$	397,428	$	418,467	$	430,102
Total leverage exposure for SLR	$	340,055	$	351,552	$	354,033

(a)    Reduced by deferred tax liabilities associated with intangible assets and tax-deductible goodwill.

BNY Mellon 39

The table below presents the factors that impacted CET1 capital.

CET1 generation	3Q22
(in millions)
CET1 – Beginning of period	$	17,067
Net income applicable to common shareholders of The Bank of New York Mellon Corporation	319
Goodwill and intangible assets, net of related deferred tax liabilities	871
Gross CET1 generated	1,190
Capital deployed:
Common stock dividends (a)	(303)
Common stock repurchases	(1)
Total capital deployed	(304)
Other comprehensive loss:
Unrealized loss on assets available-for-sale	(909)
Foreign currency translation	(423)
Unrealized loss on cash flow hedges	(1)
Defined benefit plans	13
Total other comprehensive loss	(1,320)
Additional paid-in capital (b)	58
Other additions:
Net pension fund assets	20
Embedded goodwill	15
Deferred tax assets	3
Other	(3)
Total other additions	35
Net CET1 deployed	(341)
CET1 – End of period	$	16,726

(a)    Includes dividend-equivalents on share-based awards.

(b)    Primarily related to stock awards and stock issued for employee benefit plans.

The following table shows the impact on the consolidated capital ratios at Sept. 30, 2022 of a $100 million increase or decrease in common equity, or a $1 billion increase or decrease in RWAs, quarterly average assets or total leverage exposure.

Sensitivity of consolidated capital ratios at Sept. 30, 2022
	Increase or decrease of
(in basis points)	$100 million in common  equity		$1 billion in RWA, quarterly average assets or total leverage exposure
CET1:
Standardized Approach	6	bps	6	bps
Advanced Approaches	6		6
Tier 1 capital:
Standardized Approach	6		8
Advanced Approaches	6		8
Total capital:
Standardized Approach	6		8
Advanced Approaches	6		8
Tier 1 leverage	3		1
SLR	3		2

Stress capital buffer

In August 2022, the Federal Reserve announced that BNY Mellon’s SCB requirement would be 2.5%, equal to the regulatory floor, effective as of Oct. 1, 2022. The SCB replaced the static 2.5% capital conservation buffer for Standardized Approach capital ratios for CCAR BHCs. The SCB does not apply to bank subsidiaries, which remain subject to the static 2.5% capital conservation buffer.

The SCB final rule generally eliminates the requirement for prior approval of common stock repurchases in excess of the distributions in a firm’s capital plan, provided that such distributions are consistent with applicable capital requirements and buffers, including the SCB.

Total Loss-Absorbing Capacity (“TLAC”)

The following summarizes the minimum requirements for BNY Mellon’s external TLAC and external long-term debt (“LTD”) ratios, plus currently applicable buffers.

	As a % of RWAs (a)	As a % of total leverage exposure
Eligible external TLAC ratios	Regulatory minimum of 18% plus a buffer (b) equal to the sum of 2.5%, the method 1 G-SIB surcharge (currently 1%), and the countercyclical capital buffer, if any	Regulatory minimum of 7.5% plus a buffer (c) equal to 2%
Eligible external LTD ratios	Regulatory minimum of 6% plus the greater of the method 1 or method 2 G-SIB surcharge (currently 1.5%)	4.5%

(a)    RWA is the greater of Standardized and Advanced Approaches.

(b)    Buffer to be met using only CET1.

(c)    Buffer to be met using only Tier 1 capital.

External TLAC consists of the Parent’s Tier 1 capital and eligible unsecured LTD issued by it that has a remaining term to maturity of at least one year and satisfies certain other conditions. Eligible LTD consists of the unpaid principal balance of eligible unsecured debt securities, subject to haircuts for amounts due to be paid within two years, that satisfy certain other conditions. Debt issued prior to Dec. 31, 2016 has been permanently grandfathered to the extent these instruments otherwise would be

40 BNY Mellon

ineligible only due to containing impermissible acceleration rights or being governed by foreign law.

The following table presents our external TLAC and external LTD ratios.

TLAC and LTD ratios	Sept. 30, 2022
	Minimum required		Minimum ratios with buffers
					Ratios
Eligible external TLAC:
As a percentage of RWA	18.0	%	21.5	%	27.6	%
As a percentage of total leverage exposure	7.5	%	9.5	%	13.6	%
Eligible external LTD:
As a percentage of RWA	7.5	%	N/A		13.5	%
As a percentage of total leverage exposure	4.5	%	N/A		6.6	%

N/A – Not applicable.

If BNY Mellon maintains risk-based ratio or leverage TLAC measures above the minimum required level, but with a risk-based ratio or leverage below the minimum level with buffers, we will face constraints on dividends, equity repurchases and discretionary executive compensation based on the amount of the shortfall and eligible retained income.

Trading activities and risk management

Our trading activities are focused on acting as a market-maker for our customers, facilitating customer trades and risk-mitigating hedging in compliance with the Volcker Rule. The risk from market-making activities for customers is managed by our traders and limited in total exposure through a system of position limits, value-at-risk (“VaR”) methodology and other market sensitivity measures. VaR is the potential loss in value due to adverse market movements over a defined time horizon with a specified confidence level. The calculation of our VaR used by management and presented below assumes a one-day holding period, utilizes a 99% confidence level and incorporates non-linear product characteristics. VaR facilitates comparisons across portfolios of different risk characteristics. VaR also captures the diversification of aggregated risk at the firm-wide level.

VaR represents a key risk management measure and it is important to note the inherent limitations to VaR, which include:

•VaR does not estimate potential losses over longer time horizons where moves may be extreme;

•VaR does not take into account potential variability of market liquidity; and

•Previous moves in market risk factors may not produce accurate predictions of all future market moves.

See Note 17 of the Notes to Consolidated Financial Statements for additional information on the VaR methodology.

The following tables indicate the calculated VaR amounts for the trading portfolio for the designated periods using the historical simulation VaR model.

VaR (a)	3Q22						Sept. 30, 2022
(in millions)	Average		Minimum		Maximum
Interest rate	$	4.1	$	2.6	$	7.5	$	3.3
Foreign exchange	3.9		2.7		7.1		4.7
Equity	0.2		0.1		0.5		0.2
Credit	1.9		1.0		4.4		3.9
Diversification	(5.6)		N/M		N/M		(7.1)
Overall portfolio	4.5		2.5		7.7		5.0

VaR (a)	2Q22						June 30, 2022
(in millions)	Average		Minimum		Maximum
Interest rate	$	5.8	$	4.0	$	9.3	$	6.5
Foreign exchange	3.7		2.7		10.2		3.3
Equity	0.4		0.2		0.9		0.3
Credit	1.7		1.0		3.8		1.8
Diversification	(4.7)		N/M		N/M		(4.7)
Overall portfolio	6.9		4.7		11.4		7.2

VaR (a)	3Q21						Sept. 30, 2021
(in millions)	Average		Minimum		Maximum
Interest rate	$	2.1	$	1.5	$	3.1	$	1.6
Foreign exchange	2.3		1.9		4.0		2.8
Equity	0.1		—		0.2		0.1
Credit	1.5		1.1		2.2		1.8
Diversification	(2.6)		N/M		N/M		(2.9)
Overall portfolio	3.4		2.4		5.2		3.4

BNY Mellon 41

VaR (a)	YTD22
(in millions)	Average		Minimum		Maximum
Interest rate	$	4.4	$	1.6	$	9.3
Foreign exchange	3.6		2.2		10.2
Equity	0.3		—		0.9
Credit	1.9		1.0		4.4
Diversification	(4.8)		N/M		N/M
Overall portfolio	5.4		2.5		11.4

VaR (a)	YTD21
(in millions)	Average		Minimum		Maximum
Interest rate	$	2.1	$	1.5	$	3.1
Foreign exchange	2.6		1.9		4.0
Equity	0.1		—		0.9
Credit	1.7		1.1		2.8
Diversification	(3.3)		N/M		N/M
Overall portfolio	3.2		2.4		5.2

(a)    VaR exposure does not include the impact of the Company’s consolidated investment management funds and seed capital investments.

N/M – Because the minimum and maximum may occur on different days for different risk components, it is not meaningful to compute a minimum and maximum portfolio diversification effect.

The interest rate component of VaR represents instruments whose values are predominantly driven by interest rate levels. These instruments include, but are not limited to, U.S. Treasury securities, swaps, swaptions, forward rate agreements, exchange-traded futures and options, and other interest rate derivative products.

The foreign exchange component of VaR represents instruments whose values predominantly vary with the level or volatility of currency exchange rates or interest rates. These instruments include, but are not limited to, currency balances, spot and forward transactions, currency options and other currency derivative products.

The equity component of VaR consists of instruments that represent an ownership interest in the form of domestic and foreign common stock or other equity-linked instruments. These instruments include, but are not limited to, common stock, exchange-traded funds, preferred stock, listed equity options (puts and calls), OTC equity options, equity total return swaps, equity index futures and other equity derivative products.

The credit component of VaR represents instruments whose values are predominantly driven by credit spread levels, i.e., idiosyncratic default risk. These instruments include, but are not limited to, single

issuer credit default swaps, securities with exposures from corporate and municipal credit spreads.

The diversification component of VaR is the risk reduction benefit that occurs when combining portfolios and offsetting positions, and from the correlated behavior of risk factor movements.

During the third quarter of 2022, interest rate risk generated 40% of average gross VaR, foreign exchange risk generated 39% of average gross VaR, equity risk generated 2% of average gross VaR and credit risk generated 19% of average gross VaR. During the third quarter of 2022, our daily trading loss did not exceed our calculated VaR amount of the overall portfolio.

The following table of total daily trading revenue or loss illustrates the number of trading days in which our trading revenue or loss fell within particular ranges during the past five quarters.

Distribution of trading revenue (loss) (a)
	Quarter ended
(dollars in millions)	Sept. 30, 2022	June 30, 2022	March 31, 2022	Dec. 31, 2021	Sept. 30, 2021
Revenue range:	Number of days
Less than $(2.5)	—	1	1	—	—
$(2.5) – $0	3	4	8	3	2
$0 – $2.5	10	10	12	27	23
$2.5 – $5.0	32	24	23	21	30
More than $5.0	19	24	18	12	9

(a)    Trading revenue (loss) includes realized and unrealized gains and losses primarily related to spot and forward foreign exchange transactions, derivatives and securities trades for our customers and excludes any associated commissions, underwriting fees and net interest revenue.

Trading assets include debt and equity instruments and derivative assets, primarily foreign exchange and interest rate contracts, not designated as hedging instruments. Trading assets were $12.7 billion at Sept. 30, 2022 and $16.6 billion at Dec. 31, 2021.

Trading liabilities include debt and equity instruments and derivative liabilities, primarily foreign exchange and interest rate contracts, not designated as hedging instruments. Trading liabilities were $7.5 billion at Sept. 30, 2022 and $5.5 billion at Dec. 31, 2021.

Under our fair value methodology for derivative contracts, an initial “risk-neutral” valuation is performed on each position assuming time-discounting based on a AA credit curve. In addition,

42 BNY Mellon

we consider credit risk in arriving at the fair value of our derivatives.

We reflect external credit ratings as well as observable credit default swap spreads for both ourselves and our counterparties when measuring the fair value of our derivative positions. Accordingly, the valuation of our derivative positions is sensitive to the current changes in our own credit spreads, as well as those of our counterparties.

At Sept. 30, 2022, our OTC derivative assets, including those in hedging relationships, of $5.0 billion included a credit valuation adjustment (“CVA”) deduction of $20 million. Our OTC derivative liabilities, including those in hedging relationships, of $4.0 billion included a debit valuation adjustment (“DVA”) of $7 million related to our own credit spread. Net of hedges, the CVA decreased by $2 million and the DVA increased by $1 million in the third quarter of 2022, which increased investment and other revenue - other trading revenue by $3 million. The net impact increased investment and other revenue - other trading revenue by $2 million in the second quarter of 2022 and decreased investment and other revenue - other trading revenue by less than $1 million in the third quarter of 2021.

The table below summarizes the distribution of credit ratings for our foreign exchange and interest rate derivative counterparties over the past five quarters, which indicates the level of counterparty credit associated with these trading activities. Beginning in the third quarter of 2022, equity derivative counterparties are also included. Significant changes in counterparty credit ratings could alter the level of credit risk faced by BNY Mellon.

Foreign exchange and other trading counterparty risk rating profile (a)
	Quarter ended
	Sept. 30, 2022		June 30, 2022		March 31, 2022		Dec. 31, 2021		Sept. 30, 2021
Rating:
AAA to AA-	35	%	36	%	39	%	51	%	52	%
A+ to A-	47		44		47		27		17
BBB+ to BBB-	14		14		11		18		25
BB+ and lower (b)	4		6		3		4		6
Total	100	%	100	%	100	%	100	%	100	%

(a)    Represents credit rating agency equivalent of internal credit ratings.

(b)    Non-investment grade.

Asset/liability management

Our diversified business activities include processing securities, accepting deposits, investing in securities, lending, raising money as needed to fund assets and other transactions. The market risks from these activities include interest rate risk and foreign exchange risk. Our primary market risk is exposure to movements in U.S. dollar interest rates and certain foreign currency interest rates. We actively manage interest rate sensitivity and use earnings simulation and discounted cash flow models to identify interest rate exposures.

An earnings simulation model is the primary tool used to assess changes in pre-tax net interest revenue between a baseline scenario and hypothetical interest rate scenarios. Interest rate sensitivity is quantified by calculating the change in pre-tax net interest revenue between the scenarios over a 12-month measurement period.

The baseline scenario incorporates the market’s forward rate expectations and management’s assumptions regarding client deposit rates, credit spreads, changes in the prepayment behavior of loans and securities and the impact of derivative financial instruments used for interest rate risk management purposes as of Sept. 30, 2022. These assumptions have been developed through a combination of historical analysis and future expected pricing behavior and are inherently uncertain. Actual results may differ materially from projected results due to timing, magnitude and frequency of interest rate changes, and changes in market conditions and management’s strategies, among other factors. Client deposit levels and mix are key assumptions impacting net interest revenue in the baseline as well as the hypothetical interest rate scenarios. The earnings simulation model assumes static deposit levels and mix and it also assumes that no management actions will be taken to mitigate the effects of interest rate changes. Typically, the baseline scenario uses the average deposit balances of the quarter.

In the table below, we use the earnings simulation model to assess the impact of various hypothetical interest rate scenarios compared to the baseline scenario. In each of the scenarios, all currencies’ interest rates are instantaneously shifted higher or lower. The scenarios assume instantaneous rate changes at the start of the forecast. Long-term interest rates are defined as all tenors equal to or

BNY Mellon 43

greater than three years and short-term interest rates are defined as all tenors equal to or less than three months. Interim term points are interpolated where applicable. The scenarios are intended to provide information on a basis that is consistent with industry practice.

The following table shows net interest revenue sensitivity for BNY Mellon.

Estimated changes in net interest revenue (in millions)	Sept. 30, 2022		June 30, 2022		Sept. 30, 2021
Up 100 bps rate shock vs. baseline	$	267	$	161	$	840
Long-term up 100 bps, short-term unchanged	(17)		42		239
Short-term up 100 bps, long-term unchanged	283		119		601
Long-term down 50 bps, short-term unchanged	7		(18)		(117)
Down 100 bps rate shock vs. baseline	(394)		(370)		794

The increase in nearly all of the rate sensitivities compared with June 30, 2022 was primarily due to the rates paid on interest-bearing deposits being slightly less sensitive to changes in interest rates than previously modeled. The investment portfolio is also slightly more sensitive to changes in interest rates compared with June 30, 2022.

While the net interest revenue sensitivity scenario calculations assume static deposit balances to facilitate consistent period-over-period comparisons, it is likely that a portion of deposits would run off in a rising short-term rate environment. Noninterest-bearing deposits are particularly sensitive to changes in short-term rates.

To illustrate the net interest revenue sensitivity to deposit run-off, we estimate that a $5 billion instantaneous reduction of U.S. dollar denominated noninterest-bearing deposits would reduce the net interest revenue sensitivity results in the up 100 basis point scenario compared with the baseline in the table above by approximately $270 million. The impact would be smaller if the run-off was assumed to be a mixture of interest-bearing and noninterest-bearing deposits.

For a discussion of factors impacting the growth or contraction of deposits, see “Risk Factors – Our business, financial condition and results of operations could be adversely affected if we do not effectively manage our liquidity” in our 2021 Annual Report.

44 BNY Mellon

Supplemental information – Explanation of GAAP and Non-GAAP financial measures

BNY Mellon has included in this Form 10-Q certain Non-GAAP financial measures on a tangible basis as a supplement to GAAP information, which exclude goodwill and intangible assets, net of deferred tax liabilities. We believe that the return on tangible common equity – Non-GAAP is additional useful information for investors because it presents a measure of those assets that can generate income, and the tangible book value per common share – Non-GAAP is additional useful information because it presents the level of tangible assets in relation to shares of common stock outstanding.

BNY Mellon has presented revenue measures excluding notable items, including disposal gains. Expense measures, excluding notable items, including goodwill impairment, severance expense and litigation reserves, are also presented. Litigation reserves represent accruals for loss contingencies that are both probable and reasonably estimable, but exclude standard business-related legal fees. Income before taxes, net income applicable to common shareholders of The Bank of New York Mellon Corporation, diluted earnings per share, return on common equity, return on tangible common equity, pre-tax operating margin and the effective tax rate, excluding the notable items mentioned above, are also provided. These measures have been provided to permit investors to view the financial measures on a basis consistent with how management views the businesses.

BNY Mellon has presented income before tax, excluding notable items for the Securities Services business segment. This measure is provided to permit investors to view the financial measures on a basis consistent with how management views the businesses.

The presentation of the growth rates of investment management and performance fees on a constant currency basis permits investors to assess the significance of changes in foreign currency exchange rates. Growth rates on a constant currency basis were determined by applying the current period foreign currency exchange rates to the prior period revenue. We believe that this presentation, as a supplement to GAAP information, gives investors a clearer picture of the related revenue results without the variability caused by fluctuations in foreign currency exchange rates.

BNY Mellon has also included the adjusted pre-tax operating margin – Non-GAAP, which is the pre-tax operating margin for the Investment and Wealth Management business segment, net of distribution and servicing expense that was passed to third parties who distribute or service our managed funds. We believe that this measure is useful when evaluating the performance of the Investment and Wealth Management business segment relative to industry competitors.

Reconciliation of Non-GAAP measures, excluding notable items								3Q22 vs.								YTD22 vs.
(dollars in millions)	3Q22			2Q22		3Q21		2Q22		3Q21		YTD22		YTD21		YTD21
Total noninterest expense – GAAP	$	3,679		$	3,112	$	2,918	18	%	26	%	$	9,797	$	8,547	15	%
Impact of notable items (a)	714			103		73						817		92
Adjusted total noninterest expense – Non-GAAP	$	2,965		$	3,009	$	2,845	(1)	%	4	%	$	8,980	$	8,455	6	%
Net income applicable to common shareholders of The Bank of New York Mellon Corporation – GAAP	$	319		$	835	$	881	(62)	%	(64)	%
Impact of notable items (a)	(664)			(100)		(45)
Adjusted net income applicable to common shareholders of The Bank of New York Mellon Corporation – Non-GAAP	$	983		$	935	$	926	5	%	6	%
Diluted earnings per share – GAAP	$	0.39		$	1.03	$	1.04	(62)	%	(63)	%
Impact of notable items (a)	(0.81)			(0.12)		(0.05)
Adjusted diluted earnings per share – Non-GAAP	$	1.21	(b)	$	1.15	$	1.09	5	%	11	%

(a)    Notable items in the third quarter of 2022 include goodwill impairment, a disposal gain, severance expense and litigation reserves. Notable items in the second quarter of 2022 include litigation reserves. Notable items in the third quarter of 2021 include litigation reserves, gains on disposals and severance expense.

(b)    Does not foot due to rounding.

BNY Mellon 45

The following table presents the reconciliation of the effective tax rate.

Effective tax rate reconciliation
(dollars in millions)	3Q22
Provision for income taxes – GAAP	$	242
Impact of notable items (a)	(13)
Adjusted provision for income taxes, excluding notable items – Non-GAAP	$	255
Income before taxes – GAAP	$	630
Impact of notable items (a)	(677)
Adjusted income before taxes, excluding notable items – Non-GAAP	$	1,307
Effective tax rate – GAAP	38.4		%
Adjusted effective tax rate – Non-GAAP	19.5		%

(a)    Notable items in the third quarter of 2022 include goodwill impairment, a disposal gain, severance expense and litigation reserves.

The following tables present the reconciliation of the return on common equity and tangible common equity.

Return on common equity and tangible common equity reconciliation	3Q22			YTD22
(dollars in millions)
Net income applicable to common shareholders of The Bank of New York Mellon Corporation – GAAP	$	319		$	1,853
Add: Amortization of intangible assets	17			51
Less: Tax impact of amortization of intangible assets	4			12
Adjusted net income applicable to common shareholders of The Bank of New York Mellon Corporation, excluding amortization of intangible assets – Non-GAAP	$	332		$	1,892
Impact of notable items (a)	(664)			(763)
Adjusted net income applicable to common shareholders of The Bank of New York Mellon Corporation, excluding amortization of intangible assets and notable items – Non-GAAP	996			2,655
Average common shareholders’ equity	$	35,942		$	36,483
Less: Average goodwill	17,189			17,341
Average intangible assets	2,922			2,950
Add: Deferred tax liability – tax deductible goodwill	1,175			1,175
Deferred tax liability – intangible assets	660			660
Average tangible common shareholders’ equity – Non-GAAP	$	17,666		$	18,027
Return on common equity (annualized) – GAAP	3.5		%	6.8		%
Adjusted return on common equity (annualized) – Non-GAAP	10.9		%	9.6		%
Return on tangible common equity (annualized) – Non-GAAP	7.5		%	14.0		%
Adjusted return on tangible common equity (annualized) – Non-GAAP	22.4		%	19.7		%

(a)    Notable items in the third quarter and first nine months of 2022 include goodwill impairment, a disposal gain, severance expense and litigation reserves.

46 BNY Mellon

Return on common equity and tangible common equity reconciliation	2Q22			3Q21			YTD21
(dollars in millions)
Net income applicable to common shareholders of The Bank of New York Mellon Corporation – GAAP	$	835		$	881		$	2,730
Add:  Amortization of intangible assets	17			19			63
Less: Tax impact of amortization of intangible assets	4			4			15
Adjusted net income applicable to common shareholders of The Bank of New York Mellon Corporation, excluding amortization of intangible assets – Non-GAAP	$	848		$	896		$	2,778
Average common shareholders’ equity	$	36,199		$	39,755		$	40,286
Less: Average goodwill	17,347			17,474			17,495
Average intangible assets	2,949			2,953			2,976
Add: Deferred tax liability – tax deductible goodwill	1,187			1,173			1,173
Deferred tax liability – intangible assets	668			673			673
Average tangible common shareholders’ equity – Non-GAAP	$	17,758		$	21,174		$	21,661
Return on common equity (annualized) – GAAP	9.3		%	8.8		%	9.1		%
Return on tangible common equity (annualized) – Non-GAAP	19.2		%	16.8		%	17.1		%

The following table presents the reconciliation of book value and tangible book value per common share.

Book value and tangible book value per common share reconciliation	Sept. 30, 2022		June 30, 2022		Dec. 31, 2021		Sept. 30, 2021
(dollars in millions, except per share amounts and unless otherwise noted)
BNY Mellon shareholders’ equity at period end – GAAP	$	39,737	$	40,984	$	43,034	$	43,601
Less: Preferred stock	4,838		4,838		4,838		4,541
BNY Mellon common shareholders’ equity at period end – GAAP	34,899		36,146		38,196		39,060
Less: Goodwill	16,412		17,271		17,512		17,420
Intangible assets	2,902		2,934		2,991		2,941
Add: Deferred tax liability – tax deductible goodwill	1,175		1,187		1,178		1,173
Deferred tax liability – intangible assets	660		668		676		673
BNY Mellon tangible common shareholders’ equity at period end – Non-GAAP	$	17,420	$	17,796	$	19,547	$	20,545
Period-end common shares outstanding (in thousands)	808,280		808,103		804,145		825,821
Book value per common share – GAAP	$	43.18	$	44.73	$	47.50	$	47.30
Tangible book value per common share – Non-GAAP	$	21.55	$	22.02	$	24.31	$	24.88

The following table presents the impact of changes in foreign currency exchange rates on our consolidated investment management and performance fees.

Constant currency reconciliation – Consolidated					3Q22 vs.
(dollars in millions)	3Q22		3Q21		3Q21
Investment management and performance fees – GAAP	$	800	$	913	(12)	%
Impact of changes in foreign currency exchange rates	—		(48)
Adjusted investment management and performance fees – Non-GAAP	$	800	$	865	(8)	%

The following table presents the reconciliation of income before income taxes for the Securities Services business segment.

Income before income taxes reconciliation – Securities Services business segment					3Q22 vs.
(dollars in millions)	3Q22		3Q21		3Q21
Income before income taxes – GAAP	$	523	$	313	67	%
Impact of notable items (a)	19		(70)
Adjusted income before income taxes – Non-GAAP	$	504	$	383	32	%

(a)    Notable items in the third quarter of 2022 include a disposal gain and severance expense. Notable items in the third quarter of 2021 include litigation reserves and severance expense.

BNY Mellon 47

The following table presents the impact of changes in foreign currency exchange rates on investment management and performance fees reported in the Investment and Wealth Management business segment.

Constant currency reconciliation – Investment and Wealth Management business segment					3Q22 vs.
(dollars in millions)	3Q22		3Q21		3Q21
Investment management and performance fees – GAAP	$	798	$	914	(13)	%
Impact of changes in foreign currency exchange rates	—		(48)
Adjusted investment management and performance fees – Non-GAAP	$	798	$	866	(8)	%

The following tables present the reconciliations of noninterest expense, income before income taxes and the pre-tax operating margin for the Investment and Wealth Management business segment.

Reconciliation of Non-GAAP measures – Investment and Wealth Management business segment																	YTD22
								3Q22 vs.									vs.
(dollars in millions)	3Q22			2Q22		3Q21		2Q22		3Q21		YTD22			YTD21		YTD21
Noninterest expense – GAAP	$	1,356		$	691	$	691	96	%	96	%	$	2,802		$	2,077	35	%
Impact of notable items (a)	679			—		1						679			3
Adjusted noninterest expense – Non-GAAP	$	677		$	691	$	690	(2)	%	(2)	%	$	2,123		$	2,074	2	%
(Loss) income before income taxes – GAAP	$	(497)		$	208	$	348	(339)	%	(243)	%	$	(77)		$	952	(108)	%
Impact of notable items (a)	(679)			—		(1)						(679)			(4)
Adjusted income before income taxes - Non-GAAP	$	182		$	208	$	349	(13)	%	(48)	%	$	602		$	956	(37)	%
Total revenue – GAAP	$	862										$	2,725
Less: Distribution and servicing expense	88											258
Adjusted total revenue, net of distribution and servicing expense – Non-GAAP	$	774										$	2,467
Pre-tax operating margin – GAAP (b)	(57)		%									(3)		%
Adjusted pre-tax operating margin, net of distribution and servicing expense – Non-GAAP (b)	(64)		%									(3)		%
Adjusted pre-tax operating margin, net of distribution and servicing expense and excluding notable items – Non-GAAP (b)	24		%									24		%

(a)    Notable items in the third quarter of 2022 include goodwill impairment and severance expense. Notable items in the third quarter of 2021 include severance expense. Notable items in the first nine months of 2022 include goodwill impairment and severance expense. Notable items in the first nine months of 2021 include litigation reserves and severance expense.

(b)    Income before income taxes divided by total revenue.

Pre-tax operating margin reconciliation – Investment and Wealth Management business segment
(dollars in millions)	2Q22			1Q22			4Q21			3Q21			YTD21
Income before income taxes – GAAP	$	208		$	212		$	278		$	348		$	952
Total revenue – GAAP	$	899		$	964		$	1,020		$	1,032		$	3,022
Less: Distribution and servicing expense	91			79			75			76			225
Adjusted total revenue, net of distribution and servicing expense – Non-GAAP	$	808		$	885		$	945		$	956		$	2,797
Pre-tax operating margin – GAAP (a)	23		%	22		%	27		%	34		%	31		%
Adjusted pre-tax operating margin, net of distribution and servicing   expense – Non-GAAP (a)	26		%	24		%	29		%	36		%	34		%

(a)    Income before income taxes divided by total revenue.

48 BNY Mellon

Recent accounting and regulatory developments

Recent accounting developments

The following accounting guidance issued by the Financial Accounting Standards Board (“FASB”) has not yet been adopted as of September 30, 2022.

Accounting Standards Update (“ASU”) 2022-01, Derivatives and Hedging (Topic 815): Fair Value Hedging – Portfolio Layer Method

In March 2022, the FASB issued ASU 2022-01, Derivatives and Hedging (Topic 815): Fair Value Hedging – Portfolio Layer Method, which provides guidance that expands the ability to hedge interest rate risk by permitting the use of multiple hedged layers of a single closed portfolio of assets and will (1) Allow multiple layer hedging within the same closed portfolio, (2) Expand the scope of the portfolio layer method to include non-prepayable assets, (3) Expand the eligible hedging instruments to be utilized in a single-layer hedge, and (4) Permit held-to-maturity debt securities to be transferred to available-for-sale at the date of adoption, provided such transferred securities are designated in a portfolio layer method hedge within 30 days of the adoption date.

The standard also provides further guidance and disclosure requirements with respect to hedge basis adjustments related to portfolio layer method hedges.

BNY Mellon is currently evaluating this guidance. This ASU is effective Jan. 1, 2023, with early adoption permitted.

ASU 2022-02, Financial Instruments – Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures

In March 2022, the FASB issued ASU 2022-02, Financial Instruments – Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures, which provides post-implementation guidance related to the adoption of ASU 2016-13, Financial Instruments – Credit Losses: Measurement of Credit Losses on Financial Instruments, which was effective Jan. 1, 2020. This ASU amends the guidance related to two issues: Troubled Debt Restructurings (“TDRs”) and disclosure requirements for the credit profile of the loan portfolio. This ASU

eliminates the accounting guidance for TDRs by creditors, while enhancing disclosure requirements for certain loan refinancings and restructurings by creditors when a borrower is experiencing financial difficulty. An entity must apply the loan refinancing and restructuring guidance to determine whether a modification results in a new loan or a continuation of an existing loan.

This ASU also requires that an entity disclose current-period gross write-offs by year of origination for financing receivables and net investments in leases within the scope of Subtopic 326-20, Financial Instruments – Credit Losses – Measured at Amortized Cost.

We are currently evaluating this guidance. The ASU is effective Jan. 1, 2023, with early adoption permitted.

Recent regulatory developments

For a summary of additional regulatory matters relevant to our operations, see “Recent regulatory developments” in our Form 10-Q for the quarters ended March 31, 2022 and June 30, 2022, and “Supervision and Regulation” in our 2021 Annual Report. The following discussion summarizes certain regulatory, legislative and other developments that may affect BNY Mellon.

Inflation Reduction Act

In August 2022, the Inflation Reduction Act of 2022 (“IRA”) was signed into law. The IRA includes a number of changes to existing federal tax law including, among other things, an excise tax on stock repurchases and a new corporate alternative minimum tax. These provisions are effective for tax years beginning after Dec. 31, 2022. We are currently assessing the impact of the IRA and will continue to analyze as further guidance is issued.

Other matters

Replacement of Interbank Offered Rates (“IBORs”), including LIBOR

The UK Financial Conduct Authority (the “FCA”) and the administrator for LIBOR have announced that the publication of the most commonly used U.S. dollar LIBOR settings will cease to be published or cease to be representative after June 30, 2023. The

BNY Mellon 49

publication of all other LIBOR settings ceased to be published or to be representative as of Dec. 31, 2021. In addition, the U.S. bank regulators had also issued guidance strongly encouraging banking organizations to cease using U.S. dollar LIBOR as a reference rate in new contracts by Dec. 31, 2021. As a result, financial market participants have begun to transition away from LIBOR and other IBORs to alternative reference rates. The transition event on Dec. 31, 2021 had minimal impact across BNY Mellon’s businesses, however the remaining U.S. dollar LIBOR transition will impact assets and liabilities on our balance sheet that reference IBORs, investments that we manage linked to IBORs in our Investment Management business and the operational servicing of products that reference IBORs in our Market and Wealth Services and Securities Services business segments.

In March 2022, the Adjustable Interest Rate (LIBOR) Act (the “LIBOR Act”) was enacted. The LIBOR Act provides a statutory framework to replace U.S. dollar LIBOR with a benchmark rate based on the Secured Overnight Financing Rate (“SOFR”) for contracts governed by U.S. law that have no fallbacks or fallbacks that would require the use of a poll or LIBOR-based rate. Under the LIBOR Act, the Federal Reserve must adopt rules to identify the SOFR-based replacement rate and conforming changes for legacy LIBOR-linked contracts. The Federal Reserve issued proposed rules in July 2022, which have not yet been finalized.

We are working to facilitate an orderly transition from IBORs to alternative reference rates for us and our clients. Accordingly, we have created a global transition program with senior management oversight that focuses on, among other things, evaluating and monitoring the impacts of the discontinuance of reference IBORs and the transition to replacement benchmarks on our business operations and financial condition; identifying and evaluating the scope of impacted financial instruments and contracts and the attendant risks; and implementing technology systems, models and analytics to support the transition. In addition, we continue to actively engage with our regulators and clients and participate in central bank and sector working groups.

Despite the proximity of the June 30, 2023 cessation date, there remain, however, a number of unknown factors regarding the transition from the IBORs and/or interest rate benchmark reforms that could impact

our business. For a further discussion of the various risks, see “Risk Factors – Market Risk – Transitions away from and the replacement of LIBOR and other IBORs could adversely impact our business, financial condition and results of operations” in our 2021 Annual Report.

Website information

Our website is www.bnymellon.com. We currently make available the following information under the Investor Relations portion of our website. With respect to filings with the Securities and Exchange Commission (“SEC”), we post such information as soon as reasonably practicable after we electronically file such materials with, or furnish them to, the SEC.

•All of our SEC filings, including annual reports on Form 10-K, quarterly reports on Form 10-Q, current reports on Form 8-K and all amendments to these reports, as well as proxy statements and SEC Forms 3, 4 and 5;

•Our earnings materials and selected management conference calls and presentations;

•Other regulatory disclosures, including: Pillar 3 Disclosures (and Market Risk Disclosure contained therein); Liquidity Coverage Ratio Disclosures; Federal Financial Institutions Examination Council – Consolidated Reports of Condition and Income for a Bank With Domestic and Foreign Offices; Consolidated Financial Statements for Bank Holding Companies; and the Dodd-Frank Act Stress Test Results for BNY Mellon and The Bank of New York Mellon; and

•Our Corporate Governance Guidelines, Amended and Restated By-laws, Directors’ Code of Conduct and the Charters of the Audit, Finance, Corporate Governance, Nominating and Social Responsibility, Human Resources and Compensation, Risk and Technology Committees of our Board of Directors.

We may use our website, our Twitter account (@BNYMellon) and other social media channels as additional means of disclosing information to the public. The information disclosed through those channels may be considered to be material. The contents of our website or social media channels referenced herein are not incorporated by reference into this Quarterly Report on Form 10-Q.

50 BNY Mellon

Item 1. Financial Statements

The Bank of New York Mellon Corporation (and its subsidiaries)

Consolidated Income Statement (unaudited)

	Quarter ended						Year-to-date
	Sept. 30, 2022		June 30, 2022		Sept. 30, 2021		Sept. 30, 2022		Sept. 30, 2021
(in millions)
Fee and other revenue
Investment services fees	$	2,157	$	2,206	$	2,091	$	6,356	$	6,223
Investment management and performance fees	800		833		913		2,516		2,692
Foreign exchange revenue	203		222		185		632		600
Financing-related fees	43		44		48		132		147
Distribution and servicing fees	33		34		28		97		84
Total fee revenue	3,236		3,339		3,265		9,733		9,746
Investment and other revenue	117		91		129		278		229
Total fee and other revenue	3,353		3,430		3,394		10,011		9,975
Net interest revenue
Interest revenue	1,984		1,159		693		3,921		2,116
Interest expense	1,058		335		52		1,473		175
Net interest revenue	926		824		641		2,448		1,941
Total revenue	4,279		4,254		4,035		12,459		11,916
Provision for credit losses	(30)		47		(45)		19		(214)
Noninterest expense
Staff	1,673		1,623		1,584		4,998		4,704
Software and equipment	421		405		372		1,225		1,099
Professional, legal and other purchased services	363		379		363		1,112		1,069
Sub-custodian and clearing	124		131		129		373		385
Net occupancy	124		125		120		371		365
Distribution and servicing	88		90		76		257		223
Bank assessment charges	35		37		34		107		103
Business development	34		43		22		107		63
Goodwill impairment	680		—		—		680		—
Amortization of intangible assets	17		17		19		51		63
Other	120		262		199		516		473
Total noninterest expense	3,679		3,112		2,918		9,797		8,547
Income
Income before income taxes	630		1,095		1,162		2,643		3,583
Provision for income taxes	242		231		219		626		681
Net income	388		864		943		2,017		2,902
Net loss (income) attributable to noncontrolling interests related to consolidated investment management funds	—		5		4		13		(6)
Net income applicable to shareholders of The Bank of New York Mellon Corporation	388		869		947		2,030		2,896
Preferred stock dividends	(69)		(34)		(66)		(177)		(166)
Net income applicable to common shareholders of The Bank of New York Mellon Corporation	$	319	$	835	$	881	$	1,853	$	2,730

BNY Mellon 51

The Bank of New York Mellon Corporation (and its subsidiaries)

Consolidated Income Statement (unaudited) (continued)

Net income applicable to common shareholders of The Bank of New York Mellon Corporation used for the earnings per share calculation	Quarter ended						Year-to-date
	Sept. 30, 2022		June 30, 2022		Sept. 30, 2021		Sept. 30, 2022		Sept. 30, 2021
(in millions)
Net income applicable to common shareholders of The Bank of New York Mellon Corporation	$	319	$	835	$	881	$	1,853	$	2,730
Less: Earnings allocated to participating securities	—		—		—		—		2
Net income applicable to common shareholders of The Bank of New York Mellon Corporation after required adjustment for the calculation of basic and diluted earnings per common share	$	319	$	835	$	881	$	1,853	$	2,728

Average common shares and equivalents outstanding of The Bank of New York Mellon Corporation	Quarter ended			Year-to-date
	Sept. 30, 2022	June 30, 2022	Sept. 30, 2021	Sept. 30, 2022	Sept. 30, 2021
(in thousands)
Basic	811,304	810,903	844,088	810,703	865,374
Common stock equivalents	3,311	2,834	5,297	3,713	4,401
Less: Participating securities	(99)	(147)	(357)	(202)	(451)
Diluted	814,516	813,590	849,028	814,214	869,324
Anti-dilutive securities (a)	3,306	4,112	517	3,294	739

(a)    Represents stock options, restricted stock, restricted stock units and participating securities outstanding but not included in the computation of diluted average common shares because their effect would be anti-dilutive.

Earnings per share applicable to common shareholders of The Bank of New York Mellon Corporation	Quarter ended						Year-to-date
	Sept. 30, 2022		June 30, 2022		Sept. 30, 2021		Sept. 30, 2022		Sept. 30, 2021
(in dollars)
Basic	$	0.39	$	1.03	$	1.04	$	2.29	$	3.15
Diluted	$	0.39	$	1.03	$	1.04	$	2.28	$	3.14

See accompanying unaudited Notes to Consolidated Financial Statements.

52 BNY Mellon

The Bank of New York Mellon Corporation (and its subsidiaries)

Consolidated Comprehensive Income Statement (unaudited)

	Quarter ended						Year-to-date
	Sept. 30, 2022		June 30, 2022		Sept. 30, 2021		Sept. 30, 2022		Sept. 30, 2021
(in millions)
Net income	$	388	$	864	$	943	$	2,017	$	2,902
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments	(442)		(555)		(202)		(1,150)		(301)
Unrealized (loss) on assets available-for-sale:
Unrealized (loss) arising during the period	(908)		(882)		(150)		(3,321)		(776)
Reclassification adjustment	(1)		—		(2)		(4)		(3)
Total unrealized (loss) on assets available-for-sale	(909)		(882)		(152)		(3,325)		(779)
Defined benefit plans:
Amortization of prior service credit, net loss and initial obligation included in net periodic benefit cost	13		13		22		44		69
Total defined benefit plans	13		13		22		44		69
Net unrealized (loss) on cash flow hedges	(1)		(5)		(1)		(8)		(7)
Total other comprehensive (loss), net of tax (a)	(1,339)		(1,429)		(333)		(4,439)		(1,018)
Total comprehensive (loss) income	(951)		(565)		610		(2,422)		1,884
Net loss (income) attributable to noncontrolling interests	—		5		4		13		(6)
Other comprehensive loss attributable to noncontrolling interests	19		3		—		25		—
Comprehensive (loss) income applicable to shareholders of The Bank of New York Mellon Corporation	$	(932)	$	(557)	$	614	$	(2,384)	$	1,878

(a)    Other comprehensive (loss) attributable to The Bank of New York Mellon Corporation shareholders was $(1,320) million for the quarter ended Sept. 30, 2022, $(1,426) million for the quarter ended June 30, 2022, $(333) million for the quarter ended Sept. 30, 2021, $(4,414) million for the nine months ended Sept. 30, 2022 and $(1,018) million for the nine months ended Sept. 30, 2021.

See accompanying unaudited Notes to Consolidated Financial Statements.

BNY Mellon 53

The Bank of New York Mellon Corporation (and its subsidiaries)

Consolidated Balance Sheet (unaudited)

	Sept. 30, 2022		Dec. 31, 2021
(dollars in millions, except per share amounts)
Assets
Cash and due from banks, net of allowance for credit losses of $28 and $3	$	4,707	$	6,061
Interest-bearing deposits with the Federal Reserve and other central banks	107,427		102,467
Interest-bearing deposits with banks, net of allowance for credit losses of $2 and $2 (includes restricted of $4,893 and $3,822)	13,890		16,630
Federal funds sold and securities purchased under resale agreements	23,483		29,607
Securities:
Held-to-maturity, at amortized cost, net of allowance for credit losses of less than $1 and less than $1 (fair value of $50,485 and $56,775)	57,257		56,866
Available-for-sale, at fair value (amortized cost of $93,619 and $100,774, net of allowance for credit losses of $9 and $10)	86,924		101,839
Total securities	144,181		158,705
Trading assets	12,650		16,577
Loans	69,829		67,787
Allowance for credit losses	(164)		(196)
Net loans	69,665		67,591
Premises and equipment	3,311		3,431
Accrued interest receivable	723		457
Goodwill	16,412		17,512
Intangible assets	2,902		2,991
Other assets, net of allowance for credit losses on accounts receivable of $5 and $4 (includes $1,599 and $1,187, at fair value)	28,602		22,409
Total assets	$	427,953	$	444,438
Liabilities
Deposits:
Noninterest-bearing (principally U.S. offices)	$	88,275	$	93,695
Interest-bearing deposits in U.S. offices	112,486		120,903
Interest-bearing deposits in non-U.S. offices	101,228		105,096
Total deposits	301,989		319,694
Federal funds purchased and securities sold under repurchase agreements	11,339		11,566
Trading liabilities	7,494		5,469
Payables to customers and broker-dealers	23,741		25,150
Other borrowed funds	357		749
Accrued taxes and other expenses	5,316		5,767
Other liabilities (including allowance for credit losses on lending-related commitments of $72 and $45, also includes $26 and $496, at fair value)	10,001		6,721
Long-term debt	27,820		25,931
Total liabilities	388,057		401,047
Temporary equity
Redeemable noncontrolling interests	152		161
Permanent equity
Preferred stock – par value $0.01 per share; authorized 100,000,000 shares; issued 48,826 and 48,826 shares	4,838		4,838
Common stock – par value $0.01 per share; authorized 3,500,000,000 shares; issued 1,395,525,936 and 1,389,397,912 shares	14		14
Additional paid-in capital	28,374		28,128
Retained earnings	37,660		36,667
Accumulated other comprehensive loss, net of tax	(6,627)		(2,213)
Less: Treasury stock of 587,245,987 and 585,252,546 common shares, at cost	(24,522)		(24,400)
Total The Bank of New York Mellon Corporation shareholders’ equity	39,737		43,034
Nonredeemable noncontrolling interests of consolidated investment management funds	7		196
Total permanent equity	39,744		43,230
Total liabilities, temporary equity and permanent equity	$	427,953	$	444,438

See accompanying unaudited Notes to Consolidated Financial Statements.

54 BNY Mellon

The Bank of New York Mellon Corporation (and its subsidiaries)

Consolidated Statement of Cash Flows (unaudited)

	Nine months ended Sept. 30,
(in millions)	2022		2021
Operating activities
Net income	$	2,017	$	2,902
Net loss (income) attributable to noncontrolling interests	13		(6)
Net income applicable to shareholders of The Bank of New York Mellon Corporation	2,030		2,896
Adjustments to reconcile net income to net cash provided by (used for) operating activities:
Provision for credit losses	19		(214)
Pension plan contributions	(2)		(5)
Depreciation and amortization	1,255		1,406
Goodwill impairment	680		—
Deferred tax (benefit)	255		255
Net securities (gains)	(5)		(4)
Change in trading assets and liabilities	6,945		(3,466)
Change in accruals and other, net	967		(1,159)
Net cash provided by (used for) operating activities	12,144		(291)
Investing activities
Change in interest-bearing deposits with banks	2,937		(2,005)
Change in interest-bearing deposits with the Federal Reserve and other central banks	(12,186)		11,450
Purchases of securities held-to-maturity	(2,144)		(7,587)
Paydowns of securities held-to-maturity	5,851		8,601
Maturities of securities held-to-maturity	1,423		1,242
Purchases of securities available-for-sale	(26,007)		(38,201)
Sales of securities available-for-sale	11,303		8,846
Paydowns of securities available-for-sale	4,205		10,132
Maturities of securities available-for-sale	8,392		13,396
Net change in loans	(2,517)		(7,823)
Sales of loans and other real estate	—		1
Change in federal funds sold and securities purchased under resale agreements	6,109		2,343
Net change in seed capital investments	24		(83)
Purchases of premises and equipment/capitalized software	(989)		(841)
Proceeds from the sale of premises and equipment	45		34
Dispositions, net of cash	51		8
Other, net	(1,747)		228
Net cash (used for) investing activities	(5,250)		(259)
Financing activities
Change in deposits	(8,202)		4,805
Change in federal funds purchased and securities sold under repurchase agreements	(129)		806
Change in payables to customers and broker-dealers	(1,108)		954
Change in other borrowed funds	(347)		432
Net proceeds from the issuance of long-term debt	6,684		3,689
Repayments of long-term debt	(3,250)		(4,250)
Proceeds from the exercise of stock options	9		45
Issuance of common stock	10		10
Treasury stock acquired	(122)		(3,318)
Common cash dividends paid	(860)		(846)
Preferred cash dividends paid	(177)		(166)
Other, net	(12)		4
Net cash (used for) provided by financing activities	(7,504)		2,165
Effect of exchange rate changes on cash	327		(81)
Change in cash and due from banks and restricted cash
Change in cash and due from banks and restricted cash	(283)		1,534
Cash and due from banks and restricted cash at beginning of period	9,883		9,419
Cash and due from banks and restricted cash at end of period	$	9,600	$	10,953
Cash and due from banks and restricted cash
Cash and due from banks at end of period (unrestricted cash)	$	4,707	$	6,752
Restricted cash at end of period	4,893		4,201
Cash and due from banks and restricted cash at end of period	$	9,600	$	10,953
Supplemental disclosures
Interest paid	$	1,355	$	226
Income taxes paid	319		376
Income taxes refunded	7		36

See accompanying unaudited Notes to Consolidated Financial Statements.

BNY Mellon 55

The Bank of New York Mellon Corporation (and its subsidiaries)

Consolidated Statement of Changes in Equity (unaudited)

	The Bank of New York Mellon Corporation shareholders												Nonredeemable noncontrolling interests of consolidated investment management funds		Total permanent equity			Redeemable non- controlling interests/ temporary equity
(in millions, except per share amount)	Preferred stock		Common stock		Additional paid-in capital		Retained earnings		Accumulated other comprehensive (loss), net of tax		Treasury stock
Balance at June 30, 2022	$	4,838	$	14	$	28,316	$	37,644	$	(5,307)	$	(24,521)	$	7	$	40,991	(a)	$	154
Shares issued to shareholders of noncontrolling interests	—		—		—		—		—		—		—		—			17
Redemption of subsidiary shares from noncontrolling interests	—		—		—		—		—		—		—		—			(1)
Other net changes in noncontrolling interests	—		—		2		—		—		—		—		2			1
Net income	—		—		—		388		—		—		—		388			—
Other comprehensive (loss)	—		—		—		—		(1,320)		—		—		(1,320)			(19)
Dividends:
Common stock at $0.37 per   share (b)	—		—		—		(303)		—		—		—		(303)			—
Preferred stock	—		—		—		(69)		—		—		—		(69)			—
Repurchase of common stock	—		—		—		—		—		(1)		—		(1)			—
Common stock issued under employee benefit plans	—		—		5		—		—		—		—		5			—
Stock awards and options exercised	—		—		51		—		—		—		—		51			—
Balance at Sept. 30, 2022	$	4,838	$	14	$	28,374	$	37,660	$	(6,627)	$	(24,522)	$	7	$	39,744	(a)	$	152

(a)Includes total The Bank of New York Mellon Corporation common shareholders’ equity of $36,146 million at June 30, 2022 and $34,899 million at Sept. 30, 2022.

(b)    Includes dividend-equivalents on share-based awards.

	The Bank of New York Mellon Corporation shareholders												Nonredeemable noncontrolling interests of consolidated investment management funds		Total permanent equity			Redeemable non- controlling interests/ temporary equity
(in millions, except per share amount)	Preferred stock		Common stock		Additional paid-in capital		Retained earnings		Accumulated other comprehensive (loss), net of tax		Treasury stock
Balance at March 31, 2022	$	4,838	$	14	$	28,258	$	37,088	$	(3,881)	$	(24,518)	$	198	$	41,997	(a)	$	155
Shares issued to shareholders of noncontrolling interests	—		—		—		—		—		—		—		—			2
Other net changes in noncontrolling interests	—		—		—		—		—		—		(186)		(186)			—
Net income (loss)	—		—		—		869		—		—		(5)		864			—
Other comprehensive (loss)	—		—		—		—		(1,426)		—		—		(1,426)			(3)
Dividends:
Common stock at $0.34 per   share (b)	—		—		—		(279)		—		—		—		(279)			—
Preferred stock	—		—		—		(34)		—		—		—		(34)			—
Repurchase of common stock	—		—		—		—		—		(3)		—		(3)			—
Common stock issued under employee benefit plans	—		—		5		—		—		—		—		5			—
Stock awards and options exercised	—		—		53		—		—		—		—		53			—
Balance at June 30, 2022	$	4,838	$	14	$	28,316	$	37,644	$	(5,307)	$	(24,521)	$	7	$	40,991	(a)	$	154

(a)Includes total The Bank of New York Mellon Corporation common shareholders’ equity of $36,961 million at March 31, 2022 and $36,146 million at June 30, 2022.

(b)    Includes dividend-equivalents on share-based awards.

56 BNY Mellon

The Bank of New York Mellon Corporation (and its subsidiaries)

Consolidated Statement of Changes in Equity (unaudited) (continued)

	The Bank of New York Mellon Corporation shareholders												Nonredeemable noncontrolling interests of consolidated investment management funds		Total permanent equity			Redeemable non- controlling interests/ temporary equity
(in millions, except per share amount)	Preferred stock		Common stock		Additional paid-in capital		Retained earnings		Accumulated other comprehensive (loss) income, net of tax		Treasury stock
Balance at June 30, 2021	$	4,541	$	14	$	28,006	$	35,540	$	(1,670)	$	(21,150)	$	344	$	45,625	(a)	$	169
Shares issued to shareholders of noncontrolling interests	—		—		—		—		—		—		—		—			8
Other net changes in noncontrolling interests	—		—		—		—		—		—		(67)		(67)			1
Net income (loss)	—		—		—		947		—		—		(4)		943			—
Other comprehensive (loss)	—		—		—		—		(333)		—		—		(333)			—
Dividends:
Common stock at $0.34 per   share (b)	—		—		—		(296)		—		—		—		(296)			—
Preferred stock	—		—		—		(66)		—		—		—		(66)			—
Repurchase of common stock	—		—		—		—		—		(2,001)		—		(2,001)			—
Common stock issued under employee benefit plans	—		—		4		—		—		—		—		4			—
Stock awards and options exercised	—		—		65		—		—		—		—		65			—
Balance at Sept. 30, 2021	$	4,541	$	14	$	28,075	$	36,125	$	(2,003)	$	(23,151)	$	273	$	43,874	(a)	$	178

(a)    Includes total The Bank of New York Mellon Corporation common shareholders’ equity of $40,740 million at June 30, 2021 and $39,060 million at Sept. 30, 2021.

(b)    Includes dividend-equivalents on share-based awards.

	The Bank of New York Mellon Corporation shareholders												Nonredeemable noncontrolling interests of consolidated investment management funds		Total permanent equity			Redeemable non- controlling interests/ temporary equity
(in millions, except per share amount)	Preferred stock		Common stock		Additional paid-in capital		Retained earnings		Accumulated other comprehensive (loss), net of tax		Treasury stock
Balance at Dec. 31, 2021	$	4,838	$	14	$	28,128	$	36,667	$	(2,213)	$	(24,400)	$	196	$	43,230	(a)	$	161
Shares issued to shareholders of noncontrolling interests	—		—		—		—		—		—		—		—			26
Redemption of subsidiary shares from noncontrolling interests	—		—		—		—		—		—		—		—			(15)
Other net changes in noncontrolling interests	—		—		(3)		—		—		—		(176)		(179)			5
Net income (loss)	—		—		—		2,030		—		—		(13)		2,017			—
Other comprehensive (loss)	—		—		—		—		(4,414)		—		—		(4,414)			(25)
Dividends:
Common stock at $1.05 per   share (b)	—		—		—		(860)		—		—		—		(860)			—
Preferred stock	—		—		—		(177)		—		—		—		(177)			—
Repurchase of common stock	—		—		—		—		—		(122)		—		(122)			—
Common stock issued under employee benefit plans	—		—		15		—		—		—		—		15			—
Stock awards and options exercised	—		—		234		—		—		—		—		234			—
Balance at Sept. 30, 2022	$	4,838	$	14	$	28,374	$	37,660	$	(6,627)	$	(24,522)	$	7	$	39,744	(a)	$	152

(a)    Includes total The Bank of New York Mellon Corporation common shareholders’ equity of $38,196 million at Dec. 31, 2021 and $34,899 million at Sept. 30, 2022.

(b)    Includes dividend equivalents on share-based awards.

BNY Mellon 57

The Bank of New York Mellon Corporation (and its subsidiaries)

	The Bank of New York Mellon Corporation shareholders												Nonredeemable noncontrolling interests of consolidated investment management funds		Total permanent equity			Redeemable non- controlling interests/ temporary equity
(in millions, except per share amount)	Preferred stock		Common stock		Additional paid-in capital		Retained earnings		Accumulated other comprehensive (loss), net of tax		Treasury stock
Balance at Dec. 31, 2020	$	4,541	$	14	$	27,823	$	34,241	$	(985)	$	(19,833)	$	143	$	45,944	(a)	$	176
Shares issued to shareholders of noncontrolling interests	—		—		—		—		—		—		—		—			37
Redemption of subsidiary shares from noncontrolling interests	—		—		—		—		—		—		—		—			(52)
Other net changes in noncontrolling interests	—		—		(24)		—		—		—		124		100			17
Net income	—		—		—		2,896		—		—		6		2,902			—
Other comprehensive (loss)	—		—		—		—		(1,018)		—		—		(1,018)			—
Dividends:
Common stock at $0.96 per   share (b)	—		—		—		(846)		—		—		—		(846)			—
Preferred stock	—		—		—		(166)		—		—		—		(166)			—
Repurchase of common stock	—		—		—		—		—		(3,318)		—		(3,318)			—
Common stock issued under employee benefit plans	—		—		14		—		—		—		—		14			—
Stock awards and options exercised	—		—		262		—		—		—		—		262			—
Balance at Sept. 30, 2021	$	4,541	$	14	$	28,075	$	36,125	$	(2,003)	$	(23,151)	$	273	$	43,874	(a)	$	178

(a)    Includes total The Bank of New York Mellon Corporation common shareholders’ equity of $41,260 million at Dec. 31, 2020 and $39,060 million at Sept. 30, 2021.

(b)    Includes dividend equivalents on share-based awards.

See accompanying unaudited Notes to Consolidated Financial Statements.

58 BNY Mellon

Notes to Consolidated Financial Statements

Note 1–Basis of presentation

In this Quarterly Report on Form 10-Q, references to “our,” “we,” “us,” “BNY Mellon,” the “Company” and similar terms refer to The Bank of New York Mellon Corporation and its consolidated subsidiaries. The term “Parent” refers to The Bank of New York Mellon Corporation but not to its subsidiaries.

Basis of presentation

The accounting and financial reporting policies of BNY Mellon, a global financial services company, conform to U.S. generally accepted accounting principles (“GAAP”) and prevailing industry practices. For information on our significant accounting and reporting policies, see Note 1 of the Notes to Consolidated Financial Statements in our Annual Report on Form 10-K for the year ended Dec. 31, 2021 (the “2021 Annual Report”).

The accompanying consolidated financial statements are unaudited. In the opinion of management, all adjustments necessary, consisting of normal recurring adjustments, for a fair presentation of financial position, results of operations and cash flows for the periods presented have been made. These financial statements should be read in conjunction with our Consolidated Financial Statements included in our 2021 Annual Report. Certain additional immaterial reclassifications have been made to prior periods to place them on a basis comparable with the current period presentation.

Use of estimates

The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates based upon assumptions about future economic and market conditions which affect reported amounts and related disclosures in our financial statements. Although our current estimates contemplate current conditions and how we expect them to change in the future, it is reasonably possible that actual conditions could be worse than anticipated in those estimates, which could materially affect our results of operations and financial condition.

Note 2–New accounting guidance

Staff Accounting Bulletin No. 121

In March 2022, the SEC staff released Staff Accounting Bulletin No. 121 (“SAB 121”). SAB 121

expresses the staff’s views regarding the accounting for entities that have obligations to safeguard “crypto-assets” held for their platform users. SAB 121 provides that these entities should present a liability and corresponding asset in respect of the crypto-assets safeguarded for their platform users, with the liability and asset measured at the fair value of the crypto-assets. This differs from the accounting treatment of non-crypto-assets held in custody, which do not result in assets recorded on a custodian’s balance sheet. We adopted the guidance in the third quarter of 2022 and recorded a de minimis asset and liability related to digital assets we safeguard.

Note 3–Acquisitions and dispositions

We sometimes structure our acquisitions with both an initial payment and later contingent payments tied to post-closing revenue or income growth. There were no contingent payments in the first nine months of 2022.

At Sept. 30, 2022, we were potentially obligated to pay additional consideration which, using reasonable assumptions and estimates, could range from $15 million to $45 million over the next three years.

Goodwill and intangible assets related to acquisitions completed in 2021 totaled $99 million and $70 million, respectively. See Note 3 of the Notes to Consolidated Financial Statements in our 2021 Annual Report for information related to the 2021 acquisitions.

Transaction in 2022

On Aug. 1, 2022, BNY Mellon completed the sale of HedgeMark Advisors, LLC (“HedgeMark”), and recorded a $37 million pre-tax gain. As part of the sale, BNY Mellon received an equity interest in the acquiring firm. In addition, goodwill related to HedgeMark of $13 million was removed from the consolidated balance sheet as result of this sale.

Note 4–Securities

The following tables present the amortized cost, the gross unrealized gains and losses and the fair value of securities at Sept. 30, 2022 and Dec. 31, 2021.

BNY Mellon 59

Notes to Consolidated Financial Statements (continued)

Securities at Sept. 30, 2022			Gross unrealized				Fair value
	Amortized cost
(in millions)			Gains		Losses
Available-for-sale:
U.S. Treasury	$	30,902	$	103	$	2,849	$	28,156
Sovereign debt/sovereign guaranteed	10,906		3		574		10,335
Agency residential mortgage-backed securities (“RMBS”)	8,732		119		486		8,365
Agency commercial mortgage-backed securities (“MBS”)	8,723		95		718		8,100
Supranational	8,022		3		426		7,599
Foreign covered bonds	5,546		2		268		5,280
Collateralized loan obligations (“CLOs”)	5,425		—		183		5,242
Non-agency commercial MBS	3,270		—		377		2,893
Foreign government agencies	2,449		—		134		2,315
Non-agency RMBS	2,276		50		213		2,113
U.S. government agencies	2,177		55		235		1,997
State and political subdivisions	2,187		—		321		1,866
Other asset-backed securities (“ABS”)	1,594		—		129		1,465
Corporate bonds	1,409		—		212		1,197
Other debt securities	1		—		—		1
Total securities available-for-sale (a)(b)	$	93,619	$	430	$	7,125	$	86,924
Held-to-maturity:
Agency RMBS	$	35,349	$	1	$	4,679	$	30,671
U.S. Treasury	10,715		—		966		9,749
Agency commercial MBS	4,117		—		428		3,689
U.S. government agencies	4,209		—		558		3,651
Sovereign debt/sovereign guaranteed	1,374		—		69		1,305
CLOs	983		—		44		939
Supranational	407		—		23		384
Foreign government agencies	60		—		4		56
Non-agency RMBS	30		1		1		30
State and political subdivisions	13		—		2		11
Total securities held-to-maturity (a)	$	57,257	$	2	$	6,774	$	50,485
Total securities	$	150,876	$	432	$	13,899	$	137,409

(a)    The amortized cost of available-for-sale and held-to-maturity securities are net of the allowance for credit loss of $9 million and less than $1 million, respectively. The allowance for credit loss related to available-for-sale securities primarily relates to CLOs.

(b)    Includes gross unrealized gains of $373 million and gross unrealized losses of $188 million recorded in accumulated other comprehensive income related to securities that were transferred from available-for-sale to held-to-maturity. The unrealized gains primarily relate to agency RMBS, U.S. Treasury securities and agency commercial MBS. The unrealized losses primarily relate to agency RMBS and U.S. Treasury securities. The unrealized gains and losses will be amortized into net interest revenue over the contractual lives of the securities.

Securities at Dec. 31, 2021			Gross unrealized
	Amortized cost						Fair value
(in millions)			Gains		Losses
Available-for-sale:
U.S. Treasury	$	28,966	$	771	$	328	$	29,409
Agency RMBS	14,333		270		73		14,530
Sovereign debt/sovereign guaranteed	13,367		79		67		13,379
Agency commercial MBS	8,102		345		42		8,405
Supranational	7,599		24		50		7,573
Foreign covered bonds	6,236		25		23		6,238
CLOs	4,441		3		5		4,439
Non-agency commercial MBS	3,083		65		23		3,125
Non-agency RMBS	2,641		132		25		2,748
Foreign government agencies	2,694		9		17		2,686
U.S. government agencies	2,464		99		27		2,536
State and political subdivisions	2,543		11		40		2,514
Other ABS	2,205		7		22		2,190
Corporate bonds	2,099		19		52		2,066
Other debt securities	1		—		—		1
Total securities available-for-sale (a)(b)	$	100,774	$	1,859	$	794	$	101,839
Held-to-maturity:
Agency RMBS	$	36,167	$	428	$	388	$	36,207
U.S. Treasury	11,617		36		103		11,550
Agency commercial MBS	4,068		41		52		4,057
U.S. government agencies	2,998		—		71		2,927
CLOs	983		—		1		982
Sovereign debt/sovereign guaranteed	922		18		2		938
Supranational	54		—		—		54
Non-agency RMBS	43		2		—		45
State and political subdivisions	14		1		—		15
Total securities held-to-maturity	$	56,866	$	526	$	617	$	56,775
Total securities	$	157,640	$	2,385	$	1,411	$	158,614

(a)    The amortized cost of available-for-sale securities is net of the allowance for credit loss of $10 million. The allowance for credit loss primarily relates to CLOs.

(b)    Includes gross unrealized gains of $455 million and gross unrealized losses of $75 million recorded in accumulated other comprehensive income related to securities that were transferred from available-for-sale to held-to-maturity. The unrealized gains primarily relate to U.S. Treasury securities, agency RMBS and agency commercial MBS. The unrealized losses primarily relate to U.S. Treasury securities and agency RMBS. The unrealized gains and losses will be amortized into net interest revenue over the contractual lives of the securities.

60 BNY Mellon

Notes to Consolidated Financial Statements (continued)

The following table presents the realized gains and losses, on a gross basis.

Net securities gains (losses)
(in millions)	3Q22		2Q22		3Q21		YTD22		YTD21
Realized gross gains	$	9	$	7	$	3	$	89	$	21
Realized gross losses	(8)		(7)		(1)		(84)		(17)
Total net securities gains	$	1	$	—	$	2	$	5	$	4

The following table presents pre-tax net securities gains (losses) by type.

Net securities gains (losses)
(in millions)	3Q22		2Q22		3Q21		YTD22		YTD21
Non-agency RMBS	$	—	$	—	$	—	$	49	$	2
U.S. Treasury	—		1		—		12		(4)
State and political subdivisions	—		—		—		(13)		—
Corporate bonds	—		(4)		—		(51)		—
Other	1		3		2		8		6
Total net securities gains	$	1	$	—	$	2	$	5	$	4

In the second quarter of 2022, agency RMBS and agency commercial MBS, with an aggregate amortized cost of $975 million and fair value of $906 million, were transferred from available-for-sale securities to held-to-maturity securities.

In the first quarter of 2022, agency RMBS, U.S. government agencies and agency commercial MBS, with an aggregate amortized cost of $5.3 billion and fair value of $5.2 billion, were transferred from available-for-sale securities to held-to-maturity securities.

The above transfers reduce the impact of changes in interest rates on accumulated other comprehensive income.

Allowance for credit losses – Securities

The allowance for credit losses related to securities was $9 million at Sept. 30, 2022 and $10 million at Dec. 31, 2021, and primarily relates to the available-for-sale CLO portfolio.

Credit quality indicators – Securities

At Sept. 30, 2022, the gross unrealized losses on the securities portfolio were primarily attributable to an increase in interest rates from the date of purchase, and for certain securities that were transferred from available-for-sale to held-to-maturity, an increase in interest rates through the date they were transferred. Specifically, $188 million of the unrealized losses at Sept. 30, 2022 and $75 million at Dec. 31, 2021 reflected in the tables below relate to certain securities that were previously transferred from available-for-sale to held-to-maturity. The unrealized losses will be amortized into net interest revenue over the contractual lives of the securities. The transfer created a new cost basis for the securities. As a result, if these securities have experienced unrealized losses since the date of transfer, the corresponding unrealized losses would be reflected in the held-to-maturity securities portfolio in the following tables. We do not intend to sell these securities, and it is not more likely than not that we will have to sell these securities.

BNY Mellon 61

Notes to Consolidated Financial Statements (continued)

The following tables show the aggregate fair value of available-for-sale securities with a continuous unrealized loss position for less than 12 months and those that have been in a continuous unrealized loss position for 12 months or more without an allowance for credit losses.

Available-for-sale securities in an unrealized loss position without an allowance for credit losses at Sept. 30, 2022	Less than 12 months				12 months or more				Total
	Fair value		Unrealized losses		Fair value		Unrealized losses		Fair value		Unrealized losses
(in millions)
U.S. Treasury	$	22,678	$	1,942	$	5,479	$	907	$	28,157	$	2,849
Sovereign debt/sovereign guaranteed	7,361		334		1,738		240		9,099		574
Agency RMBS	7,912		416		384		70		8,296		486
Agency commercial MBS	6,602		518		1,410		200		8,012		718
Supranational	4,590		214		1,491		212		6,081		426
CLOs	4,815		164		324		15		5,139		179
Foreign covered bonds	3,657		166		945		102		4,602		268
Non-agency commercial MBS	2,249		259		594		118		2,843		377
Foreign government agencies	1,700		68		615		66		2,315		134
Non-agency RMBS	1,058		82		804		131		1,862		213
State and political subdivisions	757		128		991		193		1,748		321
U.S. government agencies	1,515		197		206		38		1,721		235
Other ABS	925		75		505		54		1,430		129
Corporate bonds	521		39		665		173		1,186		212
Total securities available-for-sale (a)	$	66,340	$	4,602	$	16,151	$	2,519	$	82,491	$	7,121

(a)    Includes $126 million gross unrealized losses for less than 12 months and $62 million of gross unrealized losses for 12 months or more recorded in accumulated other comprehensive income related to securities that were transferred from available-for-sale to held-to-maturity. The unrealized losses are primarily related to agency RMBS and U.S. Treasury securities and will be amortized into net interest revenue over the contractual lives of the securities.

Available-for-sale securities in an unrealized loss position without an allowance for credit losses at Dec. 31, 2021	Less than 12 months				12 months or more				Total
	Fair value		Unrealized losses		Fair value		Unrealized losses		Fair value		Unrealized losses
(in millions)
U.S. Treasury	$	16,855	$	235	$	1,944	$	93	$	18,799	$	328
Sovereign debt/sovereign guaranteed	6,040		66		58		1		6,098		67
Agency RMBS	4,089		44		457		29		4,546		73
Supranational	3,093		44		305		6		3,398		50
Agency commercial MBS	2,233		39		585		3		2,818		42
Foreign covered bonds	2,694		23		—		—		2,694		23
CLOs	1,808		3		318		2		2,126		5
Non-agency RMBS	1,573		20		345		5		1,918		25
State and political subdivisions	1,848		40		13		—		1,861		40
U.S. government agencies	1,780		27		—		—		1,780		27
Other ABS	1,383		20		201		2		1,584		22
Foreign government agencies	1,446		17		15		—		1,461		17
Corporate bonds	1,247		42		198		10		1,445		52
Non-agency commercial MBS	947		16		222		7		1,169		23
Total securities available-for-sale (a)	$	47,036	$	636	$	4,661	$	158	$	51,697	$	794

(a)    Includes $47 million of gross unrealized losses for less than 12 months and $28 million of gross unrealized losses for 12 months or more recorded in accumulated other comprehensive income related to securities that were transferred from available-for-sale to held-to-maturity. The unrealized losses are primarily related to U.S. Treasury securities and agency RMBS and will be amortized into net interest revenue over the contractual lives of the securities.

62 BNY Mellon

Notes to Consolidated Financial Statements (continued)

The following tables show the credit quality of the held-to-maturity securities. We have included certain credit ratings information because the information can indicate the degree of credit risk to which we are exposed. Significant changes in ratings classifications could indicate increased credit risk for us and could be accompanied by an increase in the allowance for credit losses and/or a reduction in the fair value of our securities portfolio.

Held-to-maturity securities portfolio at Sept. 30, 2022					Ratings (a)
			Net unrealized gain (loss)								BB+ and lower
(dollars in millions)	Amortized cost				AAA/ AA-		A+/ A-		BBB+/ BBB-				Not rated
Agency RMBS	$	35,349	$	(4,678)	100	%	—	%	—	%	—	%	—	%
U.S. Treasury	10,715		(966)		100		—		—		—		—
Agency commercial MBS	4,117		(428)		100		—		—		—		—
U.S. government agencies	4,209		(558)		100		—		—		—		—
Sovereign debt/sovereign guaranteed (b)	1,374		(69)		100		—		—		—		—
CLOs	983		(44)		100		—		—		—		—
Supranational	407		(23)		100		—		—		—		—
Foreign government agencies	60		(4)		100		—		—		—		—
Non-agency RMBS	30		—		22		58		2		17		1
State and political subdivisions	13		(2)		2		2		3		—		93
Total held-to-maturity securities	$	57,257	$	(6,772)	100	%	—	%	—	%	—	%	—	%

(a)    Represents ratings by Standard & Poor’s (“S&P”) or the equivalent.

(b)    Primarily consists of exposure to Germany, France and UK.

Held-to-maturity securities portfolio at Dec. 31, 2021					Ratings (a)
			Net unrealized gain (loss)								BB+ and lower
(dollars in millions)	Amortized cost				AAA/ AA-		A+/ A-		BBB+/ BBB-				Not rated
Agency RMBS	$	36,167	$	40	100	%	—	%	—	%	—	%	—	%
U.S. Treasury	11,617		(67)		100		—		—		—		—
Agency commercial MBS	4,068		(11)		100		—		—		—		—
U.S. government agencies	2,998		(71)		100		—		—		—		—
CLOs	983		(1)		100		—		—		—		—
Sovereign debt/sovereign guaranteed (b)	922		16		100		—		—		—		—
Supranational	54		—		100		—		—		—		—
Non-agency RMBS	43		2		23		59		2		15		1
State and political subdivisions	14		1		5		2		5		—		88
Total held-to-maturity securities	$	56,866	$	(91)	100	%	—	%	—	%	—	%	—	%

(a)    Represents ratings by S&P or the equivalent.

(b)    Primarily consists of exposure to France, UK and Germany.

BNY Mellon 63

Notes to Consolidated Financial Statements (continued)

Maturity distribution

The following table shows the maturity distribution by carrying amount and yield (on a tax equivalent basis) of our securities portfolio.

Maturity distribution and yields on securities at Sept. 30, 2022
	Within 1 year				1-5 years				5-10 years				After 10 years				Total
(dollars in millions)	Amount		Yield (a)		Amount		Yield (a)		Amount		Yield (a)		Amount		Yield (a)		Amount		Yield (a)
Available-for-sale:
U.S. Treasury	$	4,837	1.87	%	$	13,970	0.93	%	$	7,324	1.25	%	$	2,025	2.92	%	$	28,156	1.32	%
Sovereign debt/sovereign guaranteed	3,846		1.82		5,734		1.13		710		0.42		45		2.65		10,335		1.32
Supranational	1,303		1.21		4,745		1.90		1,536		2.26		15		(0.09)		7,599		1.86
Foreign covered bonds	1,131		1.66		3,619		1.64		530		0.18		—		—		5,280		1.48
Foreign government agencies	540		1.03		1,743		1.49		32		0.16		—		—		2,315		1.36
U.S. government agencies	—		—		711		2.52		1,122		2.41		164		2.54		1,997		2.46
State and political subdivisions	119		3.98		688		1.50		889		1.62		170		2.41		1,866		1.79
Corporate bonds	82		2.40		338		2.75		757		1.61		20		2.01		1,197		1.95
Other debt securities	—		—		—		—		—		—		1		3.60		1		3.60
Mortgage-backed securities:
Agency RMBS																	8,365		3.10
Non-agency RMBS																	2,113		3.32
Agency commercial MBS																	8,100		2.60
Non-agency commercial MBS																	2,893		2.81
CLOs																	5,242		3.72
Other ABS																	1,465		1.94
Total securities available-for-sale	$	11,858	1.75	%	$	31,548	1.29	%	$	12,900	1.41	%	$	2,440	2.82	%	$	86,924	1.96	%
Held-to-maturity:
U.S. Treasury	$	1,464	1.79	%	$	7,292	1.25	%	$	1,959	1.16	%	$	—	—	%	$	10,715	1.31	%
U.S. government agencies	—		—		2,309		1.40		1,639		1.56		261		1.90		4,209		1.49
Sovereign debt/sovereign guaranteed	132		0.16		1,133		0.88		109		0.95		—		—		1,374		0.82
Supranational	45		0.54		362		1.01		—		—		—		—		407		0.96
Foreign government agencies	—		—		60		0.79		—		—		—		—		60		0.79
State and political subdivisions	1		5.48		1		5.93		3		4.65		8		4.80		13		4.84
Mortgage-backed securities:
Agency RMBS																	35,349		2.29
Non-agency RMBS																	30		2.22
Agency commercial MBS																	4,117		2.31
CLOs																	983		3.80
Total securities held-to-maturity	$	1,642	1.63	%	$	11,157	1.23	%	$	3,710	1.33	%	$	269	1.98	%	$	57,257	2.03	%
Total securities	$	13,500	1.73	%	$	42,705	1.27	%	$	16,610	1.40	%	$	2,709	2.75	%	$	144,181	1.99	%

(a)    Yields are based upon the amortized cost of securities and consider the contractual coupon, amortization of premiums and accretion of discounts, excluding the effect of related hedging derivatives.

Pledged assets

At Sept. 30, 2022, BNY Mellon had pledged assets of $137 billion, including $106 billion pledged as collateral for potential borrowings at the Federal Reserve Discount Window and $8 billion pledged as collateral for borrowing at the Federal Home Loan Bank. The components of the assets pledged at Sept. 30, 2022 included $120 billion of securities, $12 billion of loans, $4 billion of trading assets and $1 billion of interest-bearing deposits with banks.

If there has been no borrowing at the Federal Reserve Discount Window, the Federal Reserve generally allows banks to freely move assets in and out of their

pledged assets account to sell or repledge the assets for other purposes. BNY Mellon regularly moves assets in and out of its pledged assets account at the Federal Reserve.

At Dec. 31, 2021, BNY Mellon had pledged assets of $144 billion, including $112 billion pledged as collateral for potential borrowing at the Federal Reserve Discount Window and $7 billion pledged as collateral for borrowing at the Federal Home Loan Bank. The components of the assets pledged at Dec. 31, 2021 included $126 billion of securities, $12 billion of loans, $5 billion of trading assets and $1 billion of interest-bearing deposits with banks.

64 BNY Mellon

Notes to Consolidated Financial Statements (continued)

At Sept. 30, 2022 and Dec. 31, 2021, pledged assets included $22 billion and $24 billion, respectively, for which the recipients were permitted to sell or repledge the assets delivered.

We also obtain securities as collateral, including receipts under resale agreements, securities borrowed, derivative contracts and custody agreements, on terms which permit us to sell or repledge the securities to others. At Sept. 30, 2022 and Dec. 31, 2021, the market value of the securities received that can be sold or repledged was $99 billion and $122 billion, respectively. We routinely sell or repledge these securities through delivery to third parties. As of Sept. 30, 2022 and Dec. 31, 2021, the market value of securities collateral sold or repledged was $63 billion and $78 billion, respectively.

Restricted cash and securities

Cash and securities may be segregated under federal and other regulations or requirements. At Sept. 30, 2022 and Dec. 31, 2021, cash segregated under federal and other regulations or requirements was $5 billion and $4 billion, respectively. Restricted cash is primarily included in interest-bearing deposits with banks on the consolidated balance sheet. Securities segregated under federal and other regulations or requirements were $4 billion at Sept. 30, 2022 and $4 billion at Dec. 31, 2021. Restricted securities were sourced from securities purchased under resale agreements and are included in federal funds sold and securities purchased under resale agreements on the consolidated balance sheet.

Note 5–Loans and asset quality

Loans

The table below provides the details of our loan portfolio.

Loans	Sept. 30, 2022		Dec. 31, 2021
(in millions)
Commercial	$	2,135	$	2,128
Commercial real estate	6,299		6,033
Financial institutions	11,105		10,232
Lease financings	702		731
Wealth management loans	10,676		9,792
Wealth management mortgages	8,878		8,200
Other residential mortgages	356		299
Capital call financing	3,985		2,284
Other	2,884		2,541
Overdrafts	5,100		3,060
Margin loans	17,709		22,487
Total loans (a)	$	69,829	$	67,787

(a)    Net of unearned income of $238 million at Sept. 30, 2022 and $240 million at Dec. 31, 2021 primarily related to lease financings.

We disclose information related to our loans and asset quality by the class of the financing receivable in the following tables.

BNY Mellon 65

Notes to Consolidated Financial Statements (continued)

Allowance for credit losses

Activity in the allowance for credit losses on loans and lending-related commitments is presented below. This does not include activity in the allowance for credit losses related to other financial instruments, including cash and due from banks, interest-bearing deposits with banks, federal funds sold and securities purchased under resale agreements, available-for-sale securities, held-to-maturity securities and accounts receivable.

Allowance for credit losses activity for the quarter ended Sept. 30, 2022									Wealth management loans		Wealth management mortgages		Other residential mortgages		Capital call financing
(in millions)	Commercial		Commercial real estate		Financial institutions		Lease financings										Total
Beginning balance	$	16	$	184	$	21	$	1	$	1	$	7	$	7	$	6	$	243
Charge-offs	—		—		—		—		—		—		—		—		—
Recoveries	—		—		—		—		—		—		1		—		1
Net recoveries	—		—		—		—		—		—		1		—		1
Provision (a)	1		(8)		(1)		—		—		2		—		(2)		(8)
Ending balance	$	17	$	176	$	20	$	1	$	1	$	9	$	8	$	4	$	236
Allowance for:
Loan losses	$	4	$	130	$	9	$	1	$	1	$	8	$	8	$	3	$	164
Lending-related commitments	13		46		11		—		—		1		—		1		72
Individually evaluated for impairment:
Loan balance (b)	$	—	$	75	$	—	$	—	$	—	$	14	$	1	$	—	$	90
Allowance for loan losses	—		1		—		—		—		—		—		—		1

(a)    Does not include the provision for credit losses benefit related to other financial instruments of $22 million for the quarter ended Sept. 30, 2022.

(b)    Includes collateral-dependent loans of $90 million with $135 million of collateral at fair value.

Allowance for credit losses activity for the quarter ended June 30, 2022									Wealth management loans		Wealth management mortgages		Other residential mortgages		Capital call financing
(in millions)	Commercial		Commercial real estate		Financial institutions		Lease financings										Total
Beginning balance	$	12	$	176	$	15	$	1	$	1	$	9	$	7	$	3	$	224
Charge-offs	—		—		—		—		—		—		—		—		—
Recoveries	—		—		—		—		—		—		1		—		1
Net recoveries	—		—		—		—		—		—		1		—		1
Provision (a)	4		8		6		—		—		(2)		(1)		3		18
Ending balance	$	16	$	184	$	21	$	1	$	1	$	7	$	7	$	6	$	243
Allowance for:
Loan losses	$	4	$	147	$	10	$	1	$	1	$	6	$	7	$	5	$	181
Lending-related commitments	12		37		11		—		—		1		—		1		62
Individually evaluated for impairment:
Loan balance (b)	$	—	$	121	$	—	$	—	$	—	$	14	$	1	$	—	$	136
Allowance for loan losses	—		1		—		—		—		—		—		—		1

(a)    Does not include the provision for credit losses related to other financial instruments of $29 million for the quarter ended June 30, 2022.

(b)    Includes collateral-dependent loans of $136 million with $179 million of collateral at fair value.

66 BNY Mellon

Notes to Consolidated Financial Statements (continued)

Allowance for credit losses activity for the quarter ended Sept. 30, 2021									Wealth management loans (a)		Wealth management mortgages (a)		Other residential mortgages		Capital call financing (a)		Other		Total
(in millions)	Commercial		Commercial real estate		Financial institutions		Lease financings
Beginning balance	$	8	$	289	$	6	$	2	$	1	$	4	$	8	$	1	$	—	$	319
Charge-offs	—		—		—		—		—		—		—		—		—		—
Recoveries	—		—		—		—		—		—		1		—		—		1
Net recoveries	—		—		—		—		—		—		1		—		—		1
Provision (b)	2		(63)		2		(1)		—		—		(3)		—		16		(47)
Ending balance	$	10	$	226	$	8	$	1	$	1	$	4	$	6	$	1	$	16	$	273
Allowance for:
Loan losses	$	2	$	199	$	4	$	1	$	1	$	3	$	6	$	1	$	16	$	233
Lending-related commitments	8		27		4		—		—		1		—		—		—		40
Individually evaluated for impairment:
Loan balance (c)	$	—	$	25	$	—	$	—	$	—	$	18	$	1	$	—	$	16	$	60
Allowance for loan losses	—		3		—		—		—		—		—		—		16		19

(a)    In 2021, we began disclosing wealth management loans and wealth management mortgages separately and capital call financing loans. Beginning balances and the activity for the third quarter of 2021 have been revised to be comparable.

(b)    Does not include the provision for credit losses related to other financial instruments of $2 million for the third quarter of 2021.

(c)    Includes collateral-dependent loans of $60 million with $52 million of collateral at fair value.

Allowance for credit losses activity for the nine months ended Sept. 30, 2022													Other residential mortgages		Capital call financing		Total
(in millions)	Commercial		Commercial real estate		Financial institutions		Lease financings		Wealth management loans		Wealth management mortgages
Beginning balance	$	12	$	199	$	13	$	1	$	1	$	6	$	7	$	2	$	241
Charge-offs	—		—		—		—		—		—		—		—		—
Recoveries	—		—		—		—		—		—		3		—		3
Net recoveries	—		—		—		—		—		—		3		—		3
Provision (a)	5		(23)		7		—		—		3		(2)		2		(8)
Ending balance	$	17	$	176	$	20	$	1	$	1	$	9	$	8	$	4	$	236

(a)    Does not include the provision for credit losses related to other financial instruments of $27 million for the nine months ended Sept. 30, 2022.

Allowance for credit losses activity for the nine months ended Sept. 30, 2021													Other residential mortgages		Capital call financing (a)		Other		Total
(in millions)	Commercial		Commercial real estate		Financial institutions		Lease financings		Wealth management loans (a)		Wealth management mortgages (a)
Beginning balance	$	16	$	430	$	10	$	2	$	1	$	7	$	13	$	—	$	—	$	479
Charge-offs	—		—		—		—		—		(1)		(1)		—		—		(2)
Recoveries	—		—		2		—		—		—		4		—		—		6
Net recoveries (charge-offs)	—		—		2		—		—		(1)		3		—		—		4
Provision (b)	(6)		(204)		(4)		(1)		—		(2)		(10)		1		16		(210)
Ending balance	$	10	$	226	$	8	$	1	$	1	$	4	$	6	$	1	$	16	$	273

(a)    In 2021, we began disclosing wealth management loans and wealth management mortgages separately and capital call financing loans. Beginning balances and the activity for the first nine months of 2021 have been revised to be comparable.

(b)    Does not include the provision for credit losses benefit related to other financial instruments of $4 million for the nine months ended Sept. 30, 2021.

BNY Mellon 67

Notes to Consolidated Financial Statements (continued)

Nonperforming assets

The table below presents our nonperforming assets.

Nonperforming assets	Sept. 30, 2022						Dec. 31, 2021
	Recorded investment						Recorded investment
	With an allowance		Without an allowance				With an allowance		Without an allowance
(in millions)					Total						Total
Nonperforming loans:
Commercial real estate	$	—	$	51	$	51	$	12	$	42	$	54
Other residential mortgages	32		1		33		38		1		39
Wealth management mortgages	8		12		20		8		17		25
Total nonperforming loans	40		64		104		58		60		118
Other assets owned	—		3		3		—		2		2
Total nonperforming assets	$	40	$	67	$	107	$	58	$	62	$	120

Past due loans

The table below presents our past due loans.

Past due loans and still accruing interest	Sept. 30, 2022								Dec. 31, 2021
	Days past due						Total past due		Days past due						Total past due
(in millions)	30-59		60-89		≥90				30-59		60-89		≥90
Wealth management loans	$	33	$	5	$	—	$	38	$	33	$	—	$	—	$	33
Wealth management mortgages	1		5		—		6		24		—		—		24
Commercial real estate	5		—		—		5		3		—		—		3
Other residential mortgages	4		1		—		5		2		1		—		3
Financial institutions	—		—		—		—		31		—		—		31
Total past due loans	$	43	$	11	$	—	$	54	$	93	$	1	$	—	$	94

Loan modifications

A modified loan is considered a troubled debt restructuring (“TDR”) if the debtor is experiencing financial difficulties and the creditor grants a concession to the debtor that would not otherwise be considered. A TDR may include a transfer of real estate or other assets from the debtor to the creditor, or a modification of the term of the loan. Not all modified loans are considered TDRs. We modified eight loans in the first nine months of 2022 with an aggregate recorded investment of $13 million. The modifications of the other residential and commercial real estate loans in the first nine months of 2022 consisted of reducing the stated interest rates and, in certain cases, forbearance of default and extending the maturity dates.

TDRs that subsequently defaulted

There were two residential mortgage loans that had been restructured in a TDR in 2022 and have subsequently defaulted in the third quarter of 2022.

The total recorded investment of these loans was less than $1 million.

Due to the coronavirus pandemic, there were two forms of relief provided for classifying loans as TDRs: The Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”), the relevant provisions of which were extended by the Consolidated Appropriations Act, 2021, and the Interagency Guidance. The extension period ended Jan. 1, 2022. See Note 1 of the Notes to Consolidated Financial Statements in our 2021 Annual Report for additional details on the CARES Act, Consolidated Appropriations Act, 2021, and Interagency Guidance. Loans modified under the CARES Act or Interagency Guidance totaled $23 million in the third quarter of 2021. Nearly all of the modifications were short-term loan payment forbearances or modified principal and/or interest payments. These loans were primarily residential mortgage and commercial real estate loans. We did not identify any of the modifications as TDRs. At Sept. 30, 2022, the unpaid principal balance of the loans modified under the CARES Act or Interagency Guidance was $74 million.

68 BNY Mellon

Notes to Consolidated Financial Statements (continued)

Credit quality indicators

Our credit strategy is to focus on investment-grade clients that are active users of our non-credit services. Each customer is assigned an internal credit rating, which is mapped to an external rating agency grade equivalent, if possible, based upon a number of

dimensions, which are continually evaluated and may change over time.

The tables below provide information about the credit profile of the loan portfolio by the period of origination.

Credit profile of the loan portfolio													Sept. 30, 2022
													Revolving loans
	Originated, at amortized cost												Amortized cost		Converted to term loans – Amortized cost				Accrued interest receivable
(in millions)	YTD22		2021		2020		2019		2018		Prior to 2018						Total (a)
Commercial:
Investment grade	$	322	$	168	$	20	$	—	$	13	$	45	$	1,402	$	—	$	1,970
Non-investment grade	82		6		—		—		—		—		77		—		165
Total commercial	404		174		20		—		13		45		1,479		—		2,135		$	3
Commercial real estate:
Investment grade	919		1,172		458		904		212		912		296		—		4,873
Non-investment grade	416		445		145		236		109		19		33		23		1,426
Total commercial real estate	1,335		1,617		603		1,140		321		931		329		23		6,299		20
Financial institutions:
Investment grade	176		391		—		—		—		33		9,029		—		9,629
Non-investment grade	70		—		—		—		—		—		1,406		—		1,476
Total financial institutions	246		391		—		—		—		33		10,435		—		11,105		57
Wealth management loans:
Investment grade	28		58		18		47		—		228		10,264		—		10,643
Non-investment grade	—		—		—		—		—		—		33		—		33
Total wealth management loans	28		58		18		47		—		228		10,297		—		10,676		38
Wealth management mortgages	1,523		1,997		934		788		494		3,120		22		—		8,878		18
Lease financings	18		—		52		11		7		614		—		—		702		—
Other residential mortgages	—		—		—		—		—		356		—		—		356		1
Capital call financing	—		—		—		—		—		—		3,985		—		3,985		18
Other loans	—		—		—		—		—		—		2,884		—		2,884		4
Margin loans	5,259		—		—		—		—		—		12,450		—		17,709		24
Total loans	$	8,813	$	4,237	$	1,627	$	1,986	$	835	$	5,327	$	41,881	$	23	$	64,729	$	183

(a)    Excludes overdrafts of $5,100 million. Overdrafts occur on a daily basis primarily in the custody and securities clearance business and are generally repaid within two business days.

BNY Mellon 69

Notes to Consolidated Financial Statements (continued)

Credit profile of the loan portfolio													Dec. 31, 2021
													Revolving loans
	Originated, at amortized cost												Amortized cost		Converted to term loans – Amortized cost				Accrued interest receivable
(in millions)	2021		2020		2019		2018		2017		Prior to 2017						Total (a)
Commercial:
Investment grade	$	348	$	20	$	—	$	8	$	145	$	—	$	1,450	$	—	$	1,971
Non-investment grade	81		—		—		—		—		—		76		—		157
Total commercial	429		20		—		8		145		—		1,526		—		2,128		$	1
Commercial real estate:
Investment grade	1,577		528		683		173		298		601		205		—		4,065
Non-investment grade	660		97		568		351		50		95		121		26		1,968
Total commercial real estate	2,237		625		1,251		524		348		696		326		26		6,033		7
Financial institutions:
Investment grade	705		—		—		—		—		60		8,015		—		8,780
Non-investment grade	20		—		—		—		—		—		1,432		—		1,452
Total financial institutions	725		—		—		—		—		60		9,447		—		10,232		11
Wealth management loans:
Investment grade	117		18		73		6		104		122		9,320		—		9,760
Non-investment grade	1		—		—		—		—		—		31		—		32
Total wealth management loans	118		18		73		6		104		122		9,351		—		9,792		12
Wealth management mortgages	2,058		1,008		855		542		885		2,838		14		—		8,200		14
Lease financings	25		67		15		10		2		612		—		—		731		—
Other residential mortgages	—		—		—		—		—		299		—		—		299		1
Capital call financing	—		—		—		—		—		—		2,284		—		2,284		3
Other loans	—		—		—		—		—		—		2,541		—		2,541		2
Margin loans	7,697		—		—		—		—		—		14,790		—		22,487		10
Total loans	$	13,289	$	1,738	$	2,194	$	1,090	$	1,484	$	4,627	$	40,279	$	26	$	64,727	$	61

(a)    Excludes overdrafts of $3,060 million. Overdrafts occur on a daily basis primarily in the custody and securities clearance business and are generally repaid within two business days.

Commercial loans

The commercial loan portfolio is divided into investment grade and non-investment grade categories based on the assigned internal credit ratings, which are generally consistent with those of the public rating agencies. Customers with ratings consistent with BBB- (S&P)/Baa3 (Moody’s) or better are considered to be investment grade. Those clients with ratings lower than this threshold are considered to be non-investment grade.

Commercial real estate

Our income-producing commercial real estate facilities are focused on experienced owners and are structured with moderate leverage based on existing cash flows. Our commercial real estate lending activities also include construction and renovation facilities.

Financial institutions

Financial institution exposures are high quality, with 96% of the exposures meeting the investment grade

equivalent criteria of our internal credit rating classification at Sept. 30, 2022. In addition, 66% of the financial institutions exposure is secured. For example, securities industry clients and asset managers often borrow against marketable securities held in custody. The exposure to financial institutions is generally short-term, with 84% expiring within one year.

Wealth management loans

Wealth management loans are not typically rated by external rating agencies. A majority of the wealth management loans are secured by the customers’ investment management accounts or custody accounts. Eligible assets pledged for these loans are typically investment grade fixed-income securities, equities and/or mutual funds. Internal ratings for this portion of the wealth management loan portfolio, therefore, would equate to investment grade external ratings. Wealth management loans are provided to select customers based on the pledge of other types of assets. For the loans collateralized by other assets, the credit quality of the obligor is carefully analyzed,

70 BNY Mellon

Notes to Consolidated Financial Statements (continued)

but we do not consider this portion of wealth management loan portfolio to be investment grade.

Wealth management mortgages

Credit quality indicators for wealth management mortgages are not correlated to external ratings. Wealth management mortgages are typically loans to high-net-worth individuals, which are secured primarily by residential property. These loans are primarily interest-only, adjustable rate mortgages with a weighted-average loan-to-value ratio of 61% at origination. Delinquency rate is a key indicator of credit quality in the wealth management portfolio. At Sept. 30, 2022, less than 1% of the mortgages were past due.

At Sept. 30, 2022, the wealth management mortgage portfolio consisted of the following geographic concentrations: California – 21%; New York – 15%; Florida – 11%; Massachusetts – 8%; and other – 45%.

Lease financings

At Sept. 30, 2022, the lease financings portfolio consisted of exposures backed by well-diversified assets, primarily real estate and large-ticket transportation equipment. The largest components of our lease residual value exposure relate to aircraft and freight-related rail cars. Assets are both domestic and foreign-based, with primary concentrations in Germany and the U.S.

Other residential mortgages

The other residential mortgages portfolio primarily consists of 1-4 family residential mortgage loans and totaled $356 million at Sept. 30, 2022 and $299 million at Dec. 31, 2021. Included in this portfolio at Sept. 30, 2022 were $94 million of fixed-rate jumbo mortgage loans purchased in the second quarter of

2022 with a weighted-average loan-to-value ratio of 69% at origination. These loans are not typically correlated to external ratings.

Capital call financing

Capital call financing includes loans to private equity funds that are secured by the fund investors’ capital commitments and the funds’ right to call capital.

Other loans

Other loans primarily include loans to consumers that are fully collateralized with equities, mutual funds and fixed-income securities.

Margin loans

We had $17.7 billion of secured margin loans at Sept. 30, 2022, compared with $22.5 billion at Dec. 31, 2021. Margin loans are collateralized with marketable securities, and borrowers are required to maintain a daily collateral margin in excess of 100% of the value of the loan. We have rarely suffered a loss on these types of loans.

Overdrafts

Overdrafts primarily relate to custody and securities clearance clients and totaled $5.1 billion at Sept. 30, 2022 and $3.1 billion at Dec. 31, 2021. Overdrafts occur on a daily basis and are generally repaid within two business days.

Reverse repurchase agreements

Reverse repurchase agreements at Sept. 30, 2022 and Dec. 31, 2021 were fully secured with high-quality collateral. As a result, there was no allowance for credit losses related to these assets at Sept. 30, 2022 and Dec. 31, 2021.

BNY Mellon 71

Notes to Consolidated Financial Statements (continued)

Note 6–Goodwill and intangible assets

Goodwill

The tables below provide a breakdown of goodwill by business segment.

Goodwill by business segment (in millions)	Securities Services		Market and Wealth Services		Investment and Wealth Management		Consolidated
Balance at Dec. 31, 2021	$	7,062	$	1,435	$	9,015	$	17,512
Impairment losses	—		—		(680)		(680)
Dispositions	(13)		—		—		(13)
Foreign currency translation	(142)		(18)		(247)		(407)
Balance at Sept. 30, 2022
Goodwill	$	6,907	$	1,417	$	8,768	$	17,092
Accumulated impairment losses	—		—		(680)		(680)
Net goodwill	$	6,907	$	1,417	$	8,088	$	16,412

Goodwill by business segment (in millions)	Securities Services		Market and Wealth Services		Investment and Wealth Management		Consolidated
Balance at Dec. 31, 2020	$	7,033	$	1,423	$	9,040	$	17,496
Dispositions	—		—		(5)		(5)
Foreign currency translation	(47)		(1)		(23)		(71)
Balance at Sept. 30, 2021	$	6,986	$	1,422	$	9,012	$	17,420

Goodwill impairment testing

The goodwill impairment test is performed at least annually at the reporting unit level. BNY Mellon’s business segments include six reporting units for which goodwill impairment testing is performed. As a result of the annual goodwill impairment test conducted in the second quarter of 2022, no goodwill impairment was recognized.

An interim test is performed when events or circumstances occur that may indicate that it is more likely than not that the fair value of any reporting unit may be less than its carrying value.

In the third quarter 2022, due to decreases in market values and the related outlook as well as increased market interest rates, we performed an interim goodwill impairment test of the Investment Management reporting unit which had $7.0 billion of allocated goodwill. The fair value of the Investment Management reporting unit was determined to be 7% below its carrying value, resulting in a goodwill impairment charge of $680 million. This goodwill impairment represents a non-cash charge and did not

affect BNY Mellon’s liquidity position, tangible common equity or regulatory capital ratios. We determined it was not necessary to perform an interim goodwill impairment test for our other reporting units.

We determined the fair value of the Investment Management reporting unit using an income approach based on management’s projections as of Sept 30, 2022. The discount rate applied to these cash flows was 10.5% compared with the 10% discount rate used in the annual impairment test conducted in the second quarter of 2022. The increase was driven by a higher risk free rate. Determining the fair value of a reporting unit is subject to uncertainty as it is reliant on estimates of cash flows that extend far into the future, and, by their nature, are difficult to estimate over such an extended time frame. The cash flow estimates for the Investment Management reporting unit are impacted by projections of the level and mix of assets under management, market values, operating margins and long-term growth rates. In the future, changes in the assumptions or the discount rate could produce a material non-cash goodwill impairment.

72 BNY Mellon

Notes to Consolidated Financial Statements (continued)

Intangible assets

The tables below provide a breakdown of intangible assets by business segment.

Intangible assets – net carrying amount by business segment (in millions)	Securities Services		Market and Wealth Services		Investment and Wealth Management		Other		Consolidated
Balance at Dec. 31, 2021	$	230	$	392	$	1,520	$	849	$	2,991
Amortization	(25)		(6)		(20)		—		(51)
Foreign currency translation	(8)		—		(30)		—		(38)
Balance at Sept. 30, 2022	$	197	$	386	$	1,470	$	849	$	2,902

Intangible assets – net carrying amount by business segment (in millions)	Securities Services		Market and Wealth Services		Investment and Wealth Management		Other		Consolidated
Balance at Dec. 31, 2020	$	194	$	414	$	1,555	$	849	$	3,012
Disposition	—		—		(6)		—		(6)
Amortization	(24)		(17)		(22)		—		(63)
Foreign currency translation	—		—		(2)		—		(2)
Balance at Sept. 30, 2021	$	170	$	397	$	1,525	$	849	$	2,941

The table below provides a breakdown of intangible assets by type.

Intangible assets	Sept. 30, 2022							Dec. 31, 2021
(dollars in millions)	Gross carrying amount		Accumulated amortization		Net carrying amount		Remaining weighted- average amortization period	Gross carrying amount		Accumulated amortization		Net carrying amount
Subject to amortization: (a)
Customer contracts—Securities Services	$	733	$	(538)	$	195	11 years	$	747	$	(518)	$	229
Customer contracts—Market and Wealth Services	314		(299)		15		4 years	378		(356)		22
Customer relationships—Investment and Wealth Management	553		(456)		97		9 years	568		(456)		112
Other	47		(13)		34		14 years	47		(8)		39
Total subject to amortization	1,647		(1,306)		341		10 years	1,740		(1,338)		402
Not subject to amortization: (b)
Tradename	1,288		N/A		1,288		N/A	1,294		N/A		1,294
Customer relationships	1,273		N/A		1,273		N/A	1,295		N/A		1,295
Total not subject to amortization	2,561		N/A		2,561		N/A	2,589		N/A		2,589
Total intangible assets	$	4,208	$	(1,306)	$	2,902	N/A	$	4,329	$	(1,338)	$	2,991

(a)    Excludes fully amortized intangible assets.

(b)    Intangible assets not subject to amortization have an indefinite life.

N/A – Not applicable.

Estimated annual amortization expense for current intangibles for the next five years is as follows:

For the year ended Dec. 31,	Estimated amortization expense (in millions)
2022		$	67
2023		57
2024		49
2025		42
2026		34

Intangible asset impairment testing

Intangible assets not subject to amortization are tested for impairment annually or more often if events or circumstances indicate they may be impaired.

BNY Mellon 73

Notes to Consolidated Financial Statements (continued)

Note 7–Other assets

The following table provides the components of other assets presented on the consolidated balance sheet.

Other assets	Sept. 30, 2022		Dec. 31, 2021
(in millions)
Corporate/bank-owned life insurance	$	5,391	$	5,359
Accounts receivable	4,838		4,178
Fails to deliver	4,622		1,561
Software	2,190		2,096
Prepaid pension assets	2,012		1,946
Cash collateral receivable on derivative transactions	1,423		304
Qualified affordable housing project investments	1,255		1,153
Renewable energy investments	907		1,027
Fair value of hedging derivatives	875		206
Prepaid expense	804		476
Equity method investments	781		939
Other equity investments (a)	642		449
Income taxes receivable	577		538
Federal Reserve Bank stock	477		472
Seed capital (b)	342		357
Assets of consolidated investment management funds	214		462
Other (c)	1,252		886
Total other assets	$	28,602	$	22,409

(a)     Includes strategic equity, private equity and other investments.

(b)    Includes investments in BNY Mellon funds which hedge deferred incentive awards.

(c)    At Sept. 30, 2022 and Dec. 31, 2021, other assets include $6 million and $7 million, respectively, of Federal Home Loan Bank stock, at cost.

Non-readily marketable equity securities

Non-readily marketable equity securities do not have readily determinable fair values. These investments are valued using a measurement alternative where the investments are carried at cost, less any impairment, and plus or minus changes resulting from observable price changes in orderly transactions for an identical or similar investment of the same issuer. The observable price changes are recorded in investment and other revenue on the consolidated income statement. Our non-readily marketable equity securities totaled $434 million at Sept. 30, 2022 and $264 million at Dec. 31, 2021 and are included in other equity investments in the table above.

The following table presents the adjustments on the non-readily marketable equity securities.

Adjustments on non-readily marketable equity securities											Life-to-date
(in millions)	3Q22		2Q22		3Q21		YTD22		YTD21
Upward adjustments	$	3	$	76	$	55	$	125	$	61	$	283
Downward adjustments	—		(7)		—		(7)		—		(11)
Net adjustments	$	3	$	69	$	55	$	118	$	61	$	272

Qualified affordable housing project investments

We invest in affordable housing projects primarily to satisfy the Company’s requirements under the Community Reinvestment Act. Our total investment in qualified affordable housing projects totaled $1.3 billion at Sept. 30, 2022 and $1.2 billion at Dec. 31, 2021. Commitments to fund future investments in qualified affordable housing projects totaled $595 million at Sept. 30, 2022 and $543 million at Dec. 31, 2021 and are recorded in other liabilities on the consolidated balance sheet. A summary of the commitments to fund future investments is as follows: remainder of 2022 – $92 million; 2023 – $210 million; 2024 – $144 million; 2025 – $90 million; 2026 – $21 million; and 2027 and thereafter – $38 million.

Tax credits and other tax benefits recognized were $38 million in the third quarter of 2022, $38 million in the second quarter of 2022, $38 million in the third quarter of 2021, $114 million in the first nine months of 2022 and $114 million in the first nine months of 2021.

Amortization expense included in the provision for income taxes was $32 million in the third quarter of 2022, $33 million in the second quarter of 2022, $32 million in the third quarter of 2021, $97 million in the first nine months of 2022 and $96 million in the first nine months of 2021.

Investments valued using net asset value (“NAV”) per share

In our Investment and Wealth Management business segment, we make seed capital investments in certain funds we manage. We also hold private equity investments, primarily small business investment companies (“SBICs”), which are compliant with the Volcker Rule, and certain other corporate investments. Seed capital, private equity and other

74 BNY Mellon

Notes to Consolidated Financial Statements (continued)

corporate investments are included in other assets on the consolidated balance sheet. The fair value of certain of these investments was estimated using the

NAV per share for our ownership interest in the funds.

The table below presents information on our investments valued using NAV.

Investments valued using NAV	Sept. 30, 2022					Dec. 31, 2021
(in millions)	Fair value		Unfunded  commitments			Fair value		Unfunded commitments
Seed capital (a)(b)	$	84		$	16	$	101		$	21
Private equity investments (c)	128			58		113			61
Other	4			—		4			—
Total	$	216		$	74	$	218		$	82

(a)    Primarily includes leveraged loans and structured credit funds, which are generally not redeemable. Distributions from such investments will be received as the underlying investments in the funds, which have lives of three to 11 years at both Sept. 30, 2022 and Dec. 31, 2021, are liquidated.

(b)    Includes investments in funds that relate to deferred compensation arrangements with employees.

(c)    Private equity investments primarily include Volcker Rule-compliant investments in SBICs that invest in various sectors of the economy. Private equity investments do not have redemption rights. Distributions from such investments will be received as the underlying investments in the private equity investments, which have a life of 10 years, are liquidated.

Note 8–Contract revenue

Fee and other revenue in the Securities Services, Market and Wealth Services and Investment and Wealth Management business segments is primarily variable, based on levels of assets under custody and/or administration, assets under management and the level of client-driven transactions, as specified in fee schedules. See Note 10 of the Notes to Consolidated Financial Statements in our 2021 Annual Report for information on the nature of our services and revenue recognition. See Note 24 of the Notes to Consolidated Financial Statements in our 2021 Annual Report for additional information on our principal business segments, Securities Services,

Market and Wealth Services and Investment and Wealth Management, and the primary services provided.

Disaggregation of contract revenue

Contract revenue is included in fee and other revenue on the consolidated income statement. The following tables present fee and other revenue related to contracts with customers, disaggregated by type of fee revenue, for each business segment. Business segment data has been determined on an internal management basis of accounting, rather than GAAP, which is used for consolidated financial reporting.

BNY Mellon 75

Notes to Consolidated Financial Statements (continued)

Disaggregation of contract revenue by business segment
	Quarter ended
	Sept. 30, 2022										Sept. 30, 2021
(in millions)	Securities Services		Market and Wealth Services		Investment and Wealth Management		Other		Total		Securities Services		Market and Wealth Services		Investment and Wealth Management		Other		Total
Fee and other revenue – contract revenue:
Investment services fees	$	1,233	$	903	$	26	$	(16)	$	2,146	$	1,260	$	810	$	26	$	(17)	$	2,079
Investment management and performance fees	—		5		800		(3)		802		—		5		901		(6)		900
Financing-related fees	7		3		—		1		11		4		12		—		—		16
Distribution and servicing fees	1		(23)		55		—		33		1		(2)		28		1		28
Investment and other revenue	56		49		(76)		(1)		28		35		3		(10)		—		28
Total fee and other revenue – contract revenue	1,297		937		805		(19)		3,020		1,300		828		945		(22)		3,051
Fee and other revenue – not in scope of Accounting Standards Codification (“ASC”) 606 (a)(b)	239		52		—		42		333		188		62		40		57		347
Total fee and other revenue	$	1,536	$	989	$	805	$	23	$	3,353	$	1,488	$	890	$	985	$	35	$	3,398

(a)    Primarily includes investment services fees, foreign exchange revenue, financing-related fees and investment and other revenue, all of which are accounted for using other accounting guidance.

(b)    The Investment and Wealth Management business segment is net of (loss) attributable to noncontrolling interests related to consolidated investment management funds of $— million in the third quarter of 2022 and $(4) million in the third quarter of 2021.

Disaggregation of contract revenue by business segment	Quarter ended
	June 30, 2022
(in millions)	Securities Services		Market and Wealth Services		Investment and Wealth Management		Other		Total
Fee and other revenue – contract revenue:
Investment services fees	$	1,294	$	898	$	24	$	(17)	$	2,199
Investment management and performance fees	—		6		822		(2)		826
Financing-related fees	11		4		—		—		15
Distribution and servicing fees	1		(17)		51		(1)		34
Investment and other revenue	54		38		(66)		1		27
Total fee and other revenue – contract revenue	1,360		929		831		(19)		3,101
Fee and other revenue – not in scope of ASC 606 (a)(b)	189		45		6		94		334
Total fee and other revenue	$	1,549	$	974	$	837	$	75	$	3,435

(a)    Primarily includes investment services fees, foreign exchange revenue, financing-related fees and investment and other revenue, all of which are accounted for using other accounting guidance.

(b)    The Investment and Wealth Management business segment is net of (loss) attributable to noncontrolling interests related to consolidated investment management funds of $(5) million in the second quarter of 2022.

76 BNY Mellon

Notes to Consolidated Financial Statements (continued)

Disaggregation of contract revenue by business segment
	Year-to-date
	Sept. 30, 2022										Sept. 30, 2021
(in millions)	Securities Services		Market and Wealth Services		Investment and Wealth Management		Other		Total		Securities Services		Market and Wealth Services		Investment and Wealth Management		Other		Total
Fee and other revenue – contract revenue:
Investment services fees	$	3,657	$	2,647	$	75	$	(50)	$	6,329	$	3,685	$	2,474	$	75	$	(51)	$	6,183
Investment management and performance fees	—		17		2,509		(11)		2,515		—		13		2,654		(15)		2,652
Financing-related fees	21		21		—		1		43		13		39		—		—		52
Distribution and servicing fees	3		(44)		138		—		97		4		(4)		84		—		84
Investment and other revenue	157		96		(169)		(1)		83		100		6		(28)		—		78
Total fee and other revenue – contract revenue	3,838		2,737		2,553		(61)		9,067		3,802		2,528		2,785		(66)		9,049
Fee and other revenue – not in scope of ASC 606 (a)(b)	650		132		(4)		179		957		550		179		95		96		920
Total fee and other revenue	$	4,488	$	2,869	$	2,549	$	118	$	10,024	$	4,352	$	2,707	$	2,880	$	30	$	9,969

(a)    Primarily includes investment services fees, foreign exchange revenue, financing-related fees and investment and other revenue, all of which are accounted for using other accounting guidance.

(b)    The Investment and Wealth Management business segment is net of (loss) income attributable to noncontrolling interests related to consolidated investment management funds of $(13) million in the first nine months of 2022 and $6 million in the first nine months of 2021.

Contract balances

Our clients are billed based on fee schedules that are agreed upon in each customer contract. Receivables from customers were $2.5 billion at Sept. 30, 2022 and Dec. 31, 2021.

Contract assets represent accrued revenues that have not yet been billed to the customers due to certain contractual terms other than the passage of time and were $68 million at Sept. 30, 2022 and $42 million at Dec. 31, 2021. Accrued revenues recorded as contract assets are usually billed on an annual basis.

Both receivables from customers and contract assets are included in other assets on the consolidated balance sheet.

Contract liabilities represent payments received in advance of providing services under certain contracts and were $182 million at Sept. 30, 2022 and $163 million at Dec. 31, 2021. Contract liabilities are included in other liabilities on the consolidated balance sheet. Revenue recognized in the third quarter of 2022 relating to contract liabilities as of June 30, 2022 was $71 million. Revenue recognized in the first nine months of 2022 relating to contract liabilities as of Dec. 31, 2021 was $106 million.

Changes in contract assets and liabilities primarily relate to either party’s performance under the contracts.

Contract costs

Incremental costs for obtaining contracts that are deemed recoverable are capitalized as contract costs. Such costs result from the payment of sales incentives, primarily in the Wealth Management business, and totaled $57 million at Sept. 30, 2022 and $64 million at Dec. 31, 2021. Capitalized sales incentives are amortized based on the transfer of goods or services to which the assets relate and typically average nine years. The amortization of capitalized sales incentives, which is primarily included in staff expense on the consolidated income statement, totaled $5 million in the third quarter of 2022 and third quarter of 2021, $4 million in the second quarter of 2022, $14 million in the first nine months of 2022 and $15 million in the first nine months of 2021.

Costs to fulfill a contract are capitalized when they relate directly to an existing contract or a specific anticipated contract, generate or enhance resources that will be used to fulfill performance obligations, and are recoverable. Such costs generally represent set-up costs, which include any direct cost incurred at the inception of a contract which enables the fulfillment of the performance obligation, and totaled $25 million at Sept. 30, 2022 and $23 million at Dec. 31, 2021. These capitalized costs are amortized on a straight-line basis over the expected contract period, which generally ranges from seven to nine years. The amortization is included in professional, legal and other purchased services and other expenses on the

BNY Mellon 77

Notes to Consolidated Financial Statements (continued)

consolidated income statement and totaled less than $1 million in the third quarter of 2022, third quarter of 2021 and second quarter of 2022 and $1 million in the first nine months of 2022 and first nine months of 2021.

Unsatisfied performance obligations

We do not have any unsatisfied performance obligations other than those that are subject to a

practical expedient election under ASC 606, Revenue From Contracts With Customers. The practical expedient election applies to (i) contracts with an original expected length of one year or less, and (ii) contracts for which we recognize revenue at the amount to which we have the right to invoice for services performed.

Note 9–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, 2022		June 30, 2022		Sept. 30, 2021		Sept. 30, 2022		Sept. 30, 2021
Interest revenue
Deposits with the Federal Reserve and other central banks	$	288	$	99	$	(21)	$	389	$	(62)
Deposits with banks	67		33		12		114		37
Federal funds sold and securities purchased under resale agreements	321		116		32		474		89
Loans	581		370		238		1,211		705
Securities:
Taxable	683		509		413		1,626		1,278
Exempt from federal income taxes	9		10		11		29		31
Total securities	692		519		424		1,655		1,309
Trading securities	35		22		8		78		38
Total interest revenue	1,984		1,159		693		3,921		2,116
Interest expense
Deposits	488		90		(44)		541		(130)
Federal funds purchased and securities sold under repurchase agreements	250		77		2		339		(6)
Trading liabilities	23		10		1		37		6
Other borrowed funds	1		2		3		6		6
Customer payables	48		9		(1)		57		(2)
Long-term debt	248		147		91		493		301
Total interest expense	1,058		335		52		1,473		175
Net interest revenue	926		824		641		2,448		1,941
Provision for credit losses	(30)		47		(45)		19		(214)
Net interest revenue after provision for credit losses	$	956	$	777	$	686	$	2,429	$	2,155

78 BNY Mellon

Notes to Consolidated Financial Statements (continued)

Note 10–Employee benefit plans

The components of net periodic benefit (credit) cost are presented below. The service cost component is reflected in staff expense, whereas the remaining components are reflected in other expense.

Net periodic benefit (credit) cost	Quarter ended
	Sept. 30, 2022						June 30, 2022						Sept. 30, 2021
(in millions)	Domestic pension benefits		Foreign pension benefits		Health care benefits		Domestic pension benefits		Foreign pension benefits		Health care benefits		Domestic pension benefits		Foreign pension benefits		Health care benefits
Service cost	$	—	$	3	$	—	$	—	$	3	$	—	$	—	$	4	$	—
Interest cost	35		6		1		35		7		1		35		6		1
Expected return on assets	(78)		(8)		(2)		(78)		(9)		(1)		(75)		(9)		(2)
Other	17		1		(1)		17		1		(1)		24		3		—
Net periodic benefit (credit) cost	$	(26)	$	2	$	(2)	$	(26)	$	2	$	(1)	$	(16)	$	4	$	(1)

Net periodic benefit (credit) cost	Year-to-date
	Sept. 30, 2022						Sept. 30, 2021
(in millions)	Domestic pension benefits		Foreign pension benefits		Health care benefits		Domestic pension benefits		Foreign pension benefits		Health care benefits
Service cost	$	—	$	9	$	—	$	—	$	11	$	—
Interest cost	105		21		3		103		19		3
Expected return on assets	(234)		(27)		(5)		(225)		(26)		(5)
Other	51		3		(3)		73		10		—
Net periodic benefit (credit) cost	$	(78)	$	6	$	(5)	$	(49)	$	14	$	(2)

Note 11–Income taxes

BNY Mellon recorded an income tax provision of $242 million (38.4% effective tax rate) in the third quarter of 2022, which includes approximately 19% impact due to the goodwill impairment. The income tax provision was $219 million (18.8% effective tax rate) in the third quarter of 2021 and $231 million (21.1% effective tax rate) in the second quarter of 2022.

Our total tax reserves as of Sept. 30, 2022 were $130 million compared with $138 million at Dec. 31, 2021. If these tax reserves were unnecessary, $130 million would affect the effective tax rate in future periods. We recognize accrued interest and penalties, if applicable, related to income taxes in income tax expense. Included in the balance sheet at Sept. 30,

2022 is accrued interest, where applicable, of $38 million. The additional tax expense related to interest for the nine months ended Sept. 30, 2022 was $3 million, compared with $6 million for the nine months ended Sept. 30, 2021.

It is reasonably possible the total reserve for uncertain tax positions could decrease within the next 12 months by approximately $12 million as a result of adjustments related to tax years that are still subject to examination.

Our federal income tax returns are closed to examination through 2016. Our New York State income tax returns are closed to examination through 2014. Our New York City income tax returns are closed to examination through 2012. Our UK income tax returns are closed to examination through 2019.

BNY Mellon 79

Notes to Consolidated Financial Statements (continued)

Note 12–Variable interest entities

We have variable interests in variable interest entities (“VIEs”), which include investments in retail, institutional and alternative investment funds, including CLO structures in which we provide asset management services, some of which are consolidated.

We earn management fees from these funds, as well as performance fees in certain funds, and may also provide start-up capital for new funds. The funds are primarily financed by our customers’ investments in the funds’ equity or debt.

Additionally, we invest in qualified affordable housing and renewable energy projects, which are designed to generate a return primarily through the realization of tax credits. The projects, which are structured as limited partnerships and limited liability companies, are also VIEs, but are not consolidated.

The following table presents the incremental assets and liabilities included in the consolidated balance sheet as of Sept. 30, 2022 and Dec. 31, 2021. The net assets of any consolidated VIE are solely available to settle the liabilities of the VIE and to settle any

investors’ ownership liquidation requests, including any seed capital we invested in the VIE.

Consolidated investment management funds
	Sept. 30, 2022		Dec. 31, 2021
(in millions)
Trading assets	$	206	$	443
Other assets	8		19
Total assets (a)	$	214	$	462
Other liabilities	$	1	$	3
Total liabilities (b)	$	1	$	3
Nonredeemable noncontrolling   interests (c)	$	7	$	196

(a)    Includes voting model entities (“VMEs”) with assets of $99 million at Sept. 30, 2022 and $187 million at Dec. 31, 2021.

(b)    Includes VMEs with liabilities of $1 million at Sept. 30, 2022 and $2 million at Dec. 31, 2021.

(c)    Includes VMEs with nonredeemable noncontrolling interests of $7 million at Sept. 30, 2022 and $43 million at Dec. 31, 2021.

We have not provided financial or other support that was not otherwise contractually required to be provided to our VIEs. Additionally, creditors of any consolidated VIEs do not have any recourse to the general credit of BNY Mellon.

Non-consolidated VIEs

As of Sept. 30, 2022 and Dec. 31, 2021, the following assets and liabilities related to the VIEs where we are not the primary beneficiary were included in our consolidated balance sheets and primarily related to accounting for our investments in qualified affordable housing and renewable energy projects.

The maximum loss exposure indicated in the following table relates solely to our investments in, and unfunded commitments to, the VIEs.

Non-consolidated VIEs	Sept. 30, 2022						Dec. 31, 2021
(in millions)	Assets		Liabilities		Maximum loss exposure		Assets		Liabilities		Maximum loss exposure
Securities – Available-for-sale (a)	$	152	$	—	$	152	$	189	$	—	$	189
Other	2,323		595		2,932		2,385		543		2,946

(a)    Includes investments in the Company’s sponsored CLOs.

80 BNY Mellon

Notes to Consolidated Financial Statements (continued)

Note 13–Preferred stock

The Parent has 100 million authorized shares of preferred stock with a par value of $0.01 per share. The following table summarizes the Parent’s preferred stock issued and outstanding at Sept. 30, 2022 and Dec. 31, 2021.

Preferred stock summary (a)		Total shares issued and outstanding		Carrying value (b)
				(in millions)
		Sept. 30, 2022	Dec. 31, 2021	Sept. 30, 2022		Dec. 31, 2021
	Per annum dividend rate
Series A	Greater of (i) three-month LIBOR plus 0.565% for the related distribution period or (ii) 4.000%	5,001	5,001	$	500	$	500
Series D	4.500% to but excluding June 20, 2023, then a floating rate equal to the three-month LIBOR plus 2.46%	5,000	5,000	494		494
Series F	4.625% to but excluding Sept. 20, 2026, then a floating rate equal to the three-month LIBOR plus 3.131%	10,000	10,000	990		990
Series G	4.700% to but excluding Sept. 20, 2025, then a floating rate equal to the five-year treasury rate plus 4.358%	10,000	10,000	990		990
Series H	3.700% to but excluding March 20, 2026, then a floating rate equal to the five-year treasury rate plus 3.352%	5,825	5,825	577		577
Series I	3.750% to but excluding Dec. 20, 2026, then a floating rate equal to the five-year treasury rate plus 2.630%	13,000	13,000	1,287		1,287
Total		48,826	48,826	$	4,838	$	4,838

(a)    All outstanding preferred stock is noncumulative perpetual preferred stock with a liquidation preference of $100,000 per share.

(b)    The carrying value of the Series D, Series F, Series G, Series H and Series I preferred stock is recorded net of issuance costs.

The table below presents the Parent’s preferred dividends.

Preferred dividends
(dollars in millions, except per share amounts)	Depositary shares per share		3Q22				2Q22				3Q21				YTD22				YTD21
			Per share		Total dividend		Per share		Total dividend		Per share		Total dividend		Per share		Total dividend		Per share		Total dividend
Series A	100	(a)	$	1,011.11	$	5	$	1,022.22	$	5	$	1,011.11	$	5	$	3,044.44	$	15	$	3,033.33	$	15
Series D	100		N/A		—		2,250.00		11		N/A		—		2,250.00		11		2,250.00		11
Series E	100		N/A		N/A		N/A		N/A		898.50		10		N/A		N/A		2,735.00		28
Series F	100		2,312.50		23		N/A		—		2,312.50		23		4,625.00		46		4,625.00		46
Series G	100		2,350.00		23		N/A		—		2,350.00		23		4,700.00		47		4,700.00		47
Series H	100		925.00		6		925.00		6		925.00		5		2,775.00		17		3,258.06		19
Series I	100		937.50		12		937.50		12		N/A		N/A		3,145.83		41		N/A		N/A
Total					$	69			$	34			$	66			$	177			$	166

(a)    Represents Normal Preferred Capital Securities.

N/A – Not applicable.

In December 2021, all of the outstanding shares of the Series E preferred stock were redeemed.

All of the outstanding shares of the Series A preferred stock are owned by Mellon Capital IV, a 100% owned finance subsidiary of the Parent, which will pass through any dividend on the Series A preferred stock to the holders of its Normal Preferred Capital Securities. The Parent’s obligations under the trust and other agreements relating to Mellon Capital IV

have the effect of providing a full and unconditional guarantee, on a subordinated basis, of payments due on the Normal Preferred Capital Securities. No other subsidiary of the Parent guarantees the securities of Mellon Capital IV.

For additional information on the preferred stock, see Note 15 of the Notes to Consolidated Financial Statements in our 2021 Annual Report.

BNY Mellon 81

Notes to Consolidated Financial Statements (continued)

Note 14–Other comprehensive income (loss)

Components of other comprehensive income (loss)	Quarter ended
	Sept. 30, 2022						June 30, 2022						Sept. 30, 2021
(in millions)	Pre-tax amount		Tax (expense) benefit		After-tax amount		Pre-tax amount		Tax (expense) benefit		After-tax amount		Pre-tax amount		Tax (expense) benefit		After-tax amount
Foreign currency translation:
Foreign currency translation adjustments arising during the period (a)	$	(292)	$	(150)	$	(442)	$	(436)	$	(119)	$	(555)	$	(158)	$	(44)	$	(202)
Total foreign currency translation	(292)		(150)		(442)		(436)		(119)		(555)		(158)		(44)		(202)
Unrealized (loss) on assets available-for-sale:
Unrealized (loss) arising during period	(1,205)		297		(908)		(1,167)		285		(882)		(201)		51		(150)
Reclassification adjustment (b)	(1)		—		(1)		—		—		—		(2)		—		(2)
Net unrealized (loss) on assets available-for-sale	(1,206)		297		(909)		(1,167)		285		(882)		(203)		51		(152)
Defined benefit plans:
Amortization of prior service credit, net loss and initial obligation included in net periodic benefit cost (b)	17		(4)		13		17		(4)		13		28		(6)		22
Total defined benefit plans	17		(4)		13		17		(4)		13		28		(6)		22
Unrealized (loss) gain on cash flow hedges:
Unrealized hedge (loss) gain arising during period	(5)		1		(4)		(8)		2		(6)		1		—		1
Reclassification of net loss (gain) to net income:
Foreign exchange (“FX”) contracts – staff expense	3		(1)		2		1		—		1		(2)		—		(2)
FX contracts – investment and other revenue	1		—		1		—		—		—		—		—		—
Total reclassifications to net income	4		(1)		3		1		—		1		(2)		—		(2)
Net unrealized (loss) on cash flow hedges	(1)		—		(1)		(7)		2		(5)		(1)		—		(1)
Total other comprehensive (loss)	$	(1,482)	$	143	$	(1,339)	$	(1,593)	$	164	$	(1,429)	$	(334)	$	1	$	(333)

(a)    Includes the impact of hedges of net investments in foreign subsidiaries. See Note 17 for additional information.

(b)    The reclassification adjustment related to the unrealized gain (loss) on assets available-for-sale is recorded as net securities gains, which is included in investment and other revenue on the consolidated income statement. The amortization of prior service credit, net loss and initial obligation included in net periodic benefit cost is recorded as other expense on the consolidated income statement.

Components of other comprehensive income (loss)	Year-to-date
	Sept. 30, 2022						Sept. 30, 2021
(in millions)	Pre-tax amount		Tax (expense) benefit		After-tax amount		Pre-tax amount		Tax (expense) benefit		After-tax amount
Foreign currency translation:
Foreign currency translation adjustments arising during the period (a)	$	(848)	$	(302)	$	(1,150)	$	(247)	$	(54)	$	(301)
Total foreign currency translation	(848)		(302)		(1,150)		(247)		(54)		(301)
Unrealized (loss) on assets available-for-sale:
Unrealized (loss) arising during period	(4,393)		1,072		(3,321)		(1,021)		245		(776)
Reclassification adjustment (b)	(5)		1		(4)		(4)		1		(3)
Net unrealized (loss) on assets available-for-sale	(4,398)		1,073		(3,325)		(1,025)		246		(779)
Defined benefit plans:
Amortization of prior service credit, net loss and initial obligation included in net periodic benefit cost (b)	51		(7)		44		83		(14)		69
Total defined benefit plans	51		(7)		44		83		(14)		69
Unrealized (loss) gain on cash flow hedges:
Unrealized hedge (loss) gain arising during period	(16)		4		(12)		2		—		2
Reclassification of net losses (gains) to net income:
FX contracts – staff expense	4		(1)		3		(11)		2		(9)
FX contracts – investment and other revenue	1		—		1		—		—		—
Total reclassifications to net income	5		(1)		4		(11)		2		(9)
Net unrealized (loss) on cash flow hedges	(11)		3		(8)		(9)		2		(7)
Total other comprehensive (loss)	$	(5,206)	$	767	$	(4,439)	$	(1,198)	$	180	$	(1,018)

(a)    Includes the impact of hedges of net investments in foreign subsidiaries. See Note 17 for additional information.

(b)    The reclassification adjustment related to the unrealized gain (loss) on assets available-for-sale is recorded as net securities gains, which is included in investment and other revenue on the consolidated income statement. The amortization of prior service credit, net loss and initial obligation included in net periodic benefit cost is recorded as other expense on the consolidated income statement.

82 BNY Mellon

Notes to Consolidated Financial Statements (continued)

Note 15–Fair value measurement

Fair value is defined as the price that would be received to sell an asset, or paid to transfer a liability, in an orderly transaction between market participants at the measurement date. A three-level hierarchy for fair value measurements is utilized based upon the transparency of inputs to the valuation of an asset or liability as of the measurement date. BNY Mellon’s own creditworthiness is considered when valuing liabilities. See Note 20 of the Notes to Consolidated Financial Statements in our 2021 Annual Report for

information on how we determine fair value and the fair value hierarchy.

The following tables present the financial instruments carried at fair value at Sept. 30, 2022 and Dec. 31, 2021, by caption on the consolidated balance sheet and by the three-level valuation hierarchy. We have included credit ratings information in certain of the tables because the information indicates the degree of credit risk to which we are exposed, and significant changes in ratings classifications could result in increased risk for us.

Assets measured at fair value on a recurring basis at Sept. 30, 2022												Total carrying value
(dollars in millions)	Level 1			Level 2			Level 3			Netting (a)
Available-for-sale securities:
U.S. Treasury	$	28,156		$	—		$	—		$	—	$	28,156
Sovereign debt/sovereign guaranteed	4,335			6,000			—			—		10,335
Agency RMBS	—			8,365			—			—		8,365
Agency commercial MBS	—			8,100			—			—		8,100
Supranational	—			7,599			—			—		7,599
Foreign covered bonds	—			5,280			—			—		5,280
CLOs	—			5,242			—			—		5,242
Non-agency commercial MBS	—			2,893			—			—		2,893
Foreign government agencies	—			2,315			—			—		2,315
Non-agency RMBS	—			2,113			—			—		2,113
U.S. government agencies	—			1,997			—			—		1,997
State and political subdivisions	—			1,866			—			—		1,866
Other ABS	—			1,465			—			—		1,465
Corporate bonds	—			1,197			—			—		1,197
Other debt securities	—			1			—			—		1
Total available-for-sale securities	32,491			54,433			—			—		86,924
Trading assets:
Debt instruments	2,290			1,780			—			—		4,070
Equity instruments	4,448			—			—			—		4,448
Derivative assets not designated as hedging:
Interest rate	28			1,504			—			(1,053)		479
Foreign exchange	—			15,389			—			(11,915)		3,474
Equity and other contracts	16			242			—			(79)		179
Total derivative assets not designated as hedging	44			17,135			—			(13,047)		4,132
Total trading assets	6,782			18,915			—			(13,047)		12,650
Other assets:
Derivative assets designated as hedging:
Interest rate	—			195			—			—		195
Foreign exchange	—			680			—			—		680
Total derivative assets designated as hedging	—			875			—			—		875
Other assets (b)	302			206			—			—		508
Total other assets	302			1,081			—			—		1,383
Assets measured at NAV (b)												216
Total assets	$	39,575		$	74,429		$	—		$	(13,047)	$	101,173
Percentage of total assets prior to netting	35		%	65		%	—		%

BNY Mellon 83

Notes to Consolidated Financial Statements (continued)

Liabilities measured at fair value on a recurring basis at Sept. 30, 2022												Total carrying value
(dollars in millions)	Level 1			Level 2			Level 3			Netting (a)
Trading liabilities:
Debt instruments	$	3,426		$	36		$	—		$	—	$	3,462
Equity instruments	91			—			—			—		91
Derivative liabilities not designated as hedging:
Interest rate	11			1,793			—			(1,025)		779
Foreign exchange	—			15,756			—			(12,625)		3,131
Equity and other contracts	—			33			—			(2)		31
Total derivative liabilities not designated as hedging	11			17,582			—			(13,652)		3,941
Total trading liabilities	3,528			17,618			—			(13,652)		7,494
Other liabilities:
Derivative liabilities designated as hedging:
Interest rate	—			—			—			—		—
Foreign exchange	—			25			—			—		25
Total derivative liabilities designated as hedging	—			25			—			—		25
Other liabilities	—			1			—			—		1
Total other liabilities	—			26			—			—		26
Total liabilities	$	3,528		$	17,644		$	—		$	(13,652)	$	7,520
Percentage of total liabilities prior to netting	17		%	83		%	—		%

(a)    ASC 815, Derivatives and Hedging, permits the netting of derivative receivables and derivative payables under legally enforceable master netting agreements and permits the netting of cash collateral. Netting is applicable to derivatives not designated as hedging instruments included in trading assets or trading liabilities and derivatives designated as hedging instruments included in other assets or other liabilities. Netting is allocated to the derivative products based on the net fair value of each product.

(b)    Includes seed capital, private equity investments and other assets.

84 BNY Mellon

Notes to Consolidated Financial Statements (continued)

Assets and liabilities measured at fair value on a recurring basis at Dec. 31, 2021												Total carrying value
(dollars in millions)	Level 1			Level 2			Level 3			Netting (a)
Assets
Available-for-sale securities:
U.S. Treasury	$	29,409		$	—		$	—		$	—	$	29,409
Agency RMBS	—			14,530			—			—		14,530
Sovereign debt/sovereign guaranteed	6,017			7,362			—			—		13,379
Agency commercial MBS	—			8,405			—			—		8,405
Supranational	—			7,573			—			—		7,573
Foreign covered bonds	—			6,238			—			—		6,238
CLOs	—			4,439			—			—		4,439
Non-agency commercial MBS	—			3,125			—			—		3,125
Non-agency RMBS	—			2,748			—			—		2,748
Foreign government agencies	—			2,686			—			—		2,686
U.S. government agencies	—			2,536			—			—		2,536
State and political subdivisions	—			2,514			—			—		2,514
Other ABS	—			2,190			—			—		2,190
Corporate bonds	—			2,066			—			—		2,066
Other debt securities	—			1			—			—		1
Total available-for-sale securities	35,426			66,413			—			—		101,839
Trading assets:
Debt instruments	1,447			2,750			—			—		4,197
Equity instruments	9,766			—			—			—		9,766
Derivative assets not designated as hedging:
Interest rate	6			3,253			—			(1,424)		1,835
Foreign exchange	—			6,279			—			(5,501)		778
Equity and other contracts	—			49			—			(48)		1
Total derivative assets not designated as hedging	6			9,581			—			(6,973)		2,614
Total trading assets	11,219			12,331			—			(6,973)		16,577
Other assets:
Derivative assets designated as hedging:
Foreign exchange	—			206			—			—		206
Total derivative assets designated as hedging	—			206			—			—		206
Other assets (b)	438			325			—			—		763
Total other assets	438			531			—			—		969
Assets measured at NAV (b)												218
Total assets	$	47,083		$	79,275		$	—		$	(6,973)	$	119,603
Percentage of total assets prior to netting	37		%	63		%	—		%

Liabilities
Trading liabilities:
Debt instruments	$	2,452		$	46		$	—		$	—	$	2,498
Equity instruments	40			—			—			—		40
Derivative liabilities not designated as hedging:
Interest rate	1			2,834			—			(2,028)		807
Foreign exchange	—			6,215			—			(4,111)		2,104
Equity and other contracts	5			211			—			(196)		20
Total derivative liabilities not designated as hedging	6			9,260			—			(6,335)		2,931
Total trading liabilities	2,498			9,306			—			(6,335)		5,469
Other liabilities:
Derivative liabilities designated as hedging:
Interest rate	—			453			—			—		453
Foreign exchange	—			40			—			—		40
Total derivative liabilities designated as hedging	—			493			—			—		493
Other liabilities	1			2			—			—		3
Total other liabilities	1			495			—			—		496
Total liabilities	$	2,499		$	9,801		$	—		$	(6,335)	$	5,965
Percentage of total liabilities prior to netting	20		%	80		%	—		%

(a)    ASC 815, Derivatives and Hedging, permits the netting of derivative receivables and derivative payables under legally enforceable master netting agreements and permits the netting of cash collateral. Netting is applicable to derivatives not designated as hedging instruments included in trading assets or trading liabilities and derivatives designated as hedging instruments included in other assets or other liabilities. Netting is allocated to the derivative products based on the net fair value of each product.

(b)    Includes seed capital, private equity investments and other assets.

BNY Mellon 85

Notes to Consolidated Financial Statements (continued)

Details of certain available-for-sale securities measured at fair value on a recurring basis	Sept. 30, 2022												Dec. 31, 2021
	Total carrying value (b)		Ratings (a)										Total carrying value (b)		Ratings (a)
			AAA/ AA-		A+/ A-		BBB+/ BBB-		BB+ and lower		Not rated				AAA/ AA-		A+/ A-		BBB+/ BBB-		BB+ and lower		Not rated
(dollars in millions)
Non-agency RMBS, originated in:
2008-2022	$	1,796	100	%	—	%	—	%	—	%	—	%	$	2,190	100	%	—	%	—	%	—	%	—	%
2007	56		—		6		—		50		44		114		—		4		—		39		57
2006	91		—		33		—		50		17		181		—		24		—		33		43
2005	95		5		3		1		42		49		167		3		5		1		37		54
2004 and earlier	75		14		9		5		58		14		96		16		10		5		57		12
Total non-agency RMBS	$	2,113	86	%	2	%	—	%	7	%	5	%	$	2,748	81	%	2	%	—	%	8	%	9	%
Non-agency commercial MBS originated in:
2009-2022	$	2,893	100	%	—	%	—	%	—	%	—	%	$	3,125	100	%	—	%	—	%	—	%	—	%
Foreign covered bonds:
Canada	$	2,108	100	%	—	%	—	%	—	%	—	%	$	2,332	100	%	—	%	—	%	—	%	—	%
UK	1,088		100		—		—		—		—		1,141		100		—		—		—		—
Australia	613		100		—		—		—		—		762		100		—		—		—		—
Germany	556		100		—		—		—		—		638		100		—		—		—		—
Norway	350		100		—		—		—		—		457		100		—		—		—		—
Other	565		100		—		—		—		—		908		100		—		—		—		—
Total foreign covered bonds	$	5,280	100	%	—	%	—	%	—	%	—	%	$	6,238	100	%	—	%	—	%	—	%	—	%
Sovereign debt/sovereign guaranteed:
Germany	$	3,027	100	%	—	%	—	%	—	%	—	%	$	3,585	100	%	—	%	—	%	—	%	—	%
UK	1,693		100		—		—		—		—		1,969		100		—		—		—		—
France	1,552		100		—		—		—		—		1,921		100		—		—		—		—
Singapore	1,059		100		—		—		—		—		1,018		100		—		—		—		—
Canada	676		100		—		—		—		—		630		100		—		—		—		—
Italy	549		—		—		100		—		—		1,382		—		—		100		—		—
Hong Kong	488		100		—		—		—		—		531		100		—		—		—		—
Japan	423		—		100		—		—		—		363		—		100		—		—		—
Spain	228		—		35		65		—		—		782		—		8		92		—		—
Other (c)	640		63		18		—		19		—		1,198		71		19		—		10		—
Total sovereign debt/sovereign guaranteed	$	10,335	86	%	6	%	7	%	1	%	—	%	$	13,379	78	%	5	%	16	%	1	%	—	%
Foreign government agencies:
Canada	$	625	83	%	17	%	—	%	—	%	—	%	$	566	78	%	22	%	—	%	—	%	—	%
Norway	461		100		—		—		—		—		269		100		—		—		—		—
Netherlands	349		100		—		—		—		—		765		100		—		—		—		—
Sweden	275		100		—		—		—		—		252		100		—		—		—		—
Finland	202		100		—		—		—		—		267		100		—		—		—		—
France	177		100		—		—		—		—		301		100		—		—		—		—
Other	226		63		37		—		—		—		266		64		36		—		—		—
Total foreign government agencies	$	2,315	92	%	8	%	—	%	—	%	—	%	$	2,686	92	%	8	%	—	%	—	%	—	%

(a)    Represents ratings by S&P or the equivalent.

(b)    At Sept. 30, 2022 and Dec. 31, 2021, sovereign debt/sovereign guaranteed securities were included in Level 1 and Level 2 in the valuation hierarchy. All other assets in the table are Level 2 assets in the valuation hierarchy.

(c)    Includes non-investment grade sovereign debt/sovereign guaranteed securities related to Brazil of $122 million at Sept. 30, 2022 and $119 million at Dec. 31, 2021.

86 BNY Mellon

Notes to Consolidated Financial Statements (continued)

Assets and liabilities measured at fair value on a nonrecurring basis

Under certain circumstances, we make adjustments to the fair value of our assets, liabilities and unfunded lending-related commitments, although they are not measured at fair value on an ongoing basis. Examples would be the recording of an impairment of

an asset and non-readily marketable equity securities carried at cost with upward or downward adjustments.

The following table presents the financial instruments carried on the consolidated balance sheet by caption and level in the fair value hierarchy as of Sept. 30, 2022 and Dec. 31, 2021.

Assets measured at fair value on a nonrecurring basis	Sept. 30, 2022								Dec. 31, 2021
							Total carrying value								Total carrying value
(in millions)	Level 1		Level 2		Level 3				Level 1		Level 2		Level 3
Loans (a)	$	—	$	35	$	—	$	35	$	—	$	42	$	—	$	42
Other assets (b)	—		437		—		437		—		265		—		265
Total assets at fair value on a nonrecurring basis	$	—	$	472	$	—	$	472	$	—	$	307	$	—	$	307

(a)    The fair value of these loans was unchanged in the third quarter of 2022 and the fourth quarter of 2021, based on the fair value of the underlying collateral, as required by guidance in ASC 326, Financial Instruments – Credit Losses, with an offset to the allowance for credit losses.

(b)    Includes non-readily marketable equity securities carried at cost with upward or downward adjustments and other assets received in satisfaction of debt.

Estimated fair value of financial instruments

The following tables present the estimated fair value and the carrying amount of financial instruments not carried at fair value on the consolidated balance sheet at Sept. 30, 2022 and Dec. 31, 2021, by caption on the consolidated balance sheet and by the valuation hierarchy.

Summary of financial instruments	Sept. 30, 2022
(in millions)	Level 1		Level 2		Level 3		Total estimated fair value		Carrying amount
Assets:
Interest-bearing deposits with the Federal Reserve and other central banks	$	—	$	107,427	$	—	$	107,427	$	107,427
Interest-bearing deposits with banks	—		13,887		—		13,887		13,890
Federal funds sold and securities purchased under resale agreements	—		23,483		—		23,483		23,483
Securities held-to-maturity	10,750		39,735		—		50,485		57,257
Loans (a)	—		68,585		—		68,585		68,963
Other financial assets	4,707		1,671		—		6,378		6,378
Total	$	15,457	$	254,788	$	—	$	270,245	$	277,398
Liabilities:
Noninterest-bearing deposits	$	—	$	88,275	$	—	$	88,275	$	88,275
Interest-bearing deposits	—		208,794		—		208,794		213,714
Federal funds purchased and securities sold under repurchase agreements	—		11,339		—		11,339		11,339
Payables to customers and broker-dealers	—		23,741		—		23,741		23,741
Borrowings	—		683		—		683		683
Long-term debt	—		25,975		—		25,975		27,820
Total	$	—	$	358,807	$	—	$	358,807	$	365,572

(a)    Does not include the leasing portfolio.

BNY Mellon 87

Notes to Consolidated Financial Statements (continued)

Summary of financial instruments	Dec. 31, 2021
(in millions)	Level 1		Level 2		Level 3		Total estimated fair value		Carrying amount
Assets:
Interest-bearing deposits with the Federal Reserve and other central banks	$	—	$	102,467	$	—	$	102,467	$	102,467
Interest-bearing deposits with banks	—		16,636		—		16,636		16,630
Federal funds sold and securities purchased under resale agreements	—		29,607		—		29,607		29,607
Securities held-to-maturity	12,488		44,287		—		56,775		56,866
Loans (a)	—		67,026		—		67,026		66,860
Other financial assets	6,061		1,239		—		7,300		7,300
Total	$	18,549	$	261,262	$	—	$	279,811	$	279,730
Liabilities:
Noninterest-bearing deposits	$	—	$	93,695	$	—	$	93,695	$	93,695
Interest-bearing deposits	—		224,665		—		224,665		225,999
Federal funds purchased and securities sold under repurchase agreements	—		11,566		—		11,566		11,566
Payables to customers and broker-dealers	—		25,150		—		25,150		25,150
Borrowings	—		956		—		956		956
Long-term debt	—		26,701		—		26,701		25,931
Total	$	—	$	382,733	$	—	$	382,733	$	383,297

(a)    Does not include the leasing portfolio.

Note 16–Fair value option

We elected fair value as an alternative measurement for selected financial assets and liabilities that are not otherwise required to be measured at fair value, including the assets and liabilities of consolidated investment management funds and subordinated notes associated with certain equity investments. The following table presents the assets and liabilities of consolidated investment management funds, at fair value.

Assets and liabilities of consolidated investment management funds, at fair value
	Sept. 30, 2022		Dec. 31, 2021
(in millions)
Assets of consolidated investment management funds:
Trading assets	$	206	$	443
Other assets	8		19
Total assets of consolidated investment management funds	$	214	$	462
Liabilities of consolidated investment management funds:
Other liabilities	1		3
Total liabilities of consolidated investment management funds	$	1	$	3

The assets and liabilities of the consolidated investment management funds are included in other assets and other liabilities on the consolidated balance sheet. We value the assets and liabilities of consolidated investment management funds using quoted prices for identical assets or liabilities in active markets or observable inputs such as quoted

prices for similar assets or liabilities. Quoted prices for either identical or similar assets or liabilities in inactive markets may also be used. Accordingly, fair value best reflects the interests BNY Mellon holds in the economic performance of the consolidated investment management funds. Changes in the fair value of the assets and liabilities are recorded as income (loss) from consolidated investment management funds, which is included in investment and other revenue in the consolidated income statement.

We elected the fair value option on subordinated notes associated with certain equity investments. The fair value of these subordinated notes was $10 million at Sept. 30, 2022 and $15 million at Dec. 31, 2021. The subordinated notes were valued using observable market inputs and included in Level 2 of the valuation hierarchy.

Note 17–Derivative instruments

We use derivatives to manage exposure to market risk, including interest rate risk, equity price risk and foreign currency risk, as well as credit risk. Our trading activities are focused on acting as a market-maker for our customers and facilitating customer trades in compliance with the Volcker Rule.

The notional amounts for derivative financial instruments express the dollar volume of the transactions; however, credit risk is much smaller. We perform credit reviews and enter into netting

88 BNY Mellon

Notes to Consolidated Financial Statements (continued)

agreements and collateral arrangements to minimize the credit risk of derivative financial instruments. We enter into offsetting positions to reduce exposure to foreign currency, interest rate and equity price risk.

Use of derivative financial instruments involves reliance on counterparties. Failure of a counterparty to honor its obligation under a derivative contract is a risk we assume whenever we engage in a derivative contract. There were no counterparty default losses recorded in the third quarter of 2022.

Hedging derivatives

We utilize interest rate swap agreements to manage our exposure to interest rate fluctuations. We enter into fair value hedges as an interest rate risk management strategy to reduce fair value variability by converting certain fixed rate interest payments associated with available-for-sale securities and long-term debt to floating interest rates. We also utilize interest rate swaps and forward exchange contracts as cash flow hedges to manage our exposure to interest rate and foreign exchange rate changes.

The available-for-sale securities hedged consist of U.S. Treasury, agency and non-agency commercial MBS, sovereign debt/sovereign guaranteed, state and political subdivisions, corporate bonds and foreign covered bonds. At Sept. 30, 2022, $32.6 billion par value of available-for-sale securities were hedged with interest rate swaps designated as fair value hedges that had notional values of $32.6 billion.

The fixed rate long-term debt instruments hedged generally have original maturities of five to 30 years. In fair value hedging relationships, fixed rate debt is hedged with “receive fixed rate, pay variable rate” swaps. At Sept. 30, 2022, $22.9 billion par value of debt was hedged with interest rate swaps designated as fair value hedges that had notional values of $22.9 billion.

In addition, we utilize forward foreign exchange contracts as hedges to mitigate foreign exchange exposures. We use forward foreign exchange contracts as cash flow hedges to convert certain forecasted non-U.S. dollar revenue and expenses into

U.S. dollars. We use forward foreign exchange contracts with maturities of 12 months or less as cash flow hedges to hedge our foreign exchange exposure to currencies such as Indian rupee, British pound, euro, Hong Kong dollar, Polish zloty and Singapore dollar used in revenue and expense transactions for entities that have the U.S. dollar as their functional currency. As of Sept. 30, 2022, the hedged forecasted foreign currency transactions and designated forward foreign exchange contract hedges were $407 million (notional), with a net pre-tax loss of $9 million recorded in accumulated other comprehensive income (“OCI”). This loss will be reclassified to earnings over the next 12 months.

We also utilize forward foreign exchange contracts as fair value hedges of the foreign exchange risk associated with available-for-sale securities. Forward points are designated as an excluded component and amortized into earnings over the hedge period. The unamortized derivative value associated with the excluded component is recognized in accumulated OCI. At Sept. 30, 2022, $110 million par value of available-for-sale securities was hedged with foreign currency forward contracts that had a notional value of $110 million.

Forward foreign exchange contracts are also used to hedge the value of our net investments in foreign subsidiaries. These forward foreign exchange contracts have maturities of less than one year. The derivatives employed are designated as hedges of changes in value of our foreign investments due to exchange rates. The change in fair market value of these forward foreign exchange contracts is reported within foreign currency translation adjustments in shareholders’ equity, net of tax. At Sept. 30, 2022, forward foreign exchange contracts with notional amounts totaling $8.1 billion were designated as net investment hedges.

From time to time, we also designate non-derivative financial instruments as hedges of our net investments in foreign subsidiaries. At Sept. 30, 2022, there were no non-derivative financial instruments hedging our net investments in foreign subsidiaries.

BNY Mellon 89

Notes to Consolidated Financial Statements (continued)

The following table presents the pre-tax gains (losses) related to our fair value and cash flow hedging activities recognized in the consolidated income statement.

Income statement impact of fair value and cash flow hedges
(in millions)	Location of gains (losses)	3Q22		2Q22		3Q21		YTD22		YTD21
Interest rate fair value hedges of available-for-sale securities
Derivative	Interest revenue	$	1,294	$	866	$	183	$	3,644	$	649
Hedged item	Interest revenue	(1,292)		(858)		(184)		(3,630)		(647)
Interest rate fair value hedges of long-term debt
Derivative	Interest expense	(540)		(292)		(96)		(1,573)		(427)
Hedged item	Interest expense	539		291		96		1,570		426
Foreign exchange fair value hedges of available-for-sale securities
Derivative (a)	Foreign exchange revenue	(2)		(1)		—		(4)		7
Hedged item	Foreign exchange revenue	2		2		—		5		(6)
Cash flow hedges of forecasted FX exposures
(Loss) gain reclassified from OCI into income	Staff expense	(3)		(1)		2		(4)		11
(Loss) reclassified from OCI into income	Investment and other revenue	(1)		—		—		(1)		—
(Loss) gain recognized in the consolidated income statement due to fair value and cash flow hedging relationships		$	(3)	$	7	$	1	$	7	$	13

(a)    Includes gains of less than $1 million in the third quarter of 2022, $1 million in the second quarter of 2022, less than $1 million in the third quarter of 2021 and gains of $1 million in the first nine months of 2022 and first nine months of 2021 associated with the amortization of the excluded component. At Sept. 30, 2022 and Dec. 31, 2021, the remaining accumulated OCI balance associated with the excluded component was de minimis.

The following table presents the impact of hedging derivatives used in net investment hedging relationships.

Impact of derivative instruments used in net investment hedging relationships
(in millions)
Derivatives in net investment hedging relationships	Gain or (loss) recognized in accumulated OCI on derivatives										Location of gain or (loss) reclassified from accumulated OCI into income	Gain or (loss) reclassified from accumulated OCI into income
	3Q22		2Q22		3Q21		YTD22		YTD21			3Q22		2Q22		3Q21		YTD22		YTD21
FX contracts	$	631	$	505	$	201	$	1,279	$	221	Net interest revenue	$	—	$	—	$	—	$	—	$	—

The following table presents information on the hedged items in fair value hedging relationships.

Hedged items in fair value hedging relationships	Carrying amount of hedged asset or liability				Hedge accounting basis adjustment increase (decrease) (a)
(in millions)	Sept. 30, 2022		Dec. 31, 2021		Sept. 30, 2022		Dec. 31, 2021
Available-for-sale securities (b)(c)	$	32,585	$	24,400	$	(2,948)	$	590
Long-term debt	$	21,627	$	22,447	$	(1,368)	$	183

(a)    Includes $90 million and $165 million of basis adjustment increases on discontinued hedges associated with available-for-sale securities at Sept. 30, 2022 and Dec. 31, 2021, respectively, and $52 million and $72 million of basis adjustment decreases on discontinued hedges associated with long-term debt at Sept. 30, 2022 and Dec. 31, 2021, respectively.

(b)    Excludes hedged items where only foreign currency risk is the designated hedged risk, as the basis adjustments related to foreign currency hedges will not reverse through the consolidated income statement in future periods. The carrying amount excluded for available-for-sale securities was $110 million at Sept. 30, 2022 and $141 million at Dec. 31, 2021.

(c)    Carrying amount represents the amortized cost.

90 BNY Mellon

Notes to Consolidated Financial Statements (continued)

The following table summarizes the notional amount and carrying values of our total derivative portfolio.

Impact of derivative instruments on the balance sheet	Notional value				Asset derivatives fair value				Liability derivatives fair value
	Sept. 30, 2022		Dec. 31, 2021		Sept. 30, 2022		Dec. 31, 2021		Sept. 30, 2022		Dec. 31, 2021
(in millions)
Derivatives designated as hedging instruments: (a)(b)
Interest rate contracts	$	55,575	$	46,717	$	195	$	—	$	—	$	453
Foreign exchange contracts	8,610		10,367		680		206		25		40
Total derivatives designated as hedging instruments					$	875	$	206	$	25	$	493
Derivatives not designated as hedging instruments: (b)(c)
Interest rate contracts	$	219,878	$	193,747	$	1,532	$	3,259	$	1,804	$	2,835
Foreign exchange contracts	870,047		915,694		15,389		6,279		15,756		6,215
Equity contracts	4,304		9,659		257		49		30		211
Credit contracts	275		190		1		—		3		5
Total derivatives not designated as hedging instruments					$	17,179	$	9,587	$	17,593	$	9,266
Total derivatives fair value (d)					$	18,054	$	9,793	$	17,618	$	9,759
Effect of master netting agreements (e)					(13,047)		(6,973)		(13,652)		(6,335)
Fair value after effect of master netting agreements					$	5,007	$	2,820	$	3,966	$	3,424

(a)    The fair value of asset derivatives and liability derivatives designated as hedging instruments is recorded as other assets and other liabilities, respectively, on the consolidated balance sheet.

(b)    For derivative transactions settled at clearing organizations, cash collateral exchanged is deemed a settlement of the derivative each day. The settlement reduces the gross fair value of derivative assets and liabilities and results in a corresponding decrease in the effect of master netting agreements, with no impact to the consolidated balance sheet.

(c)    The fair value of asset derivatives and liability derivatives not designated as hedging instruments is recorded as trading assets and trading liabilities, respectively, on the consolidated balance sheet.

(d)    Fair values are on a gross basis, before consideration of master netting agreements, as required by ASC 815, Derivatives and Hedging.

(e)    Effect of master netting agreements includes cash collateral received and paid of $2,497 million and $3,102 million, respectively, at Sept. 30, 2022, and $1,424 million and $786 million, respectively, at Dec. 31, 2021.

Trading activities (including trading derivatives)

Our trading activities are focused on acting as a market-maker for our customers, facilitating customer trades and risk-mitigating economic hedging in compliance with the Volcker Rule. The change in the fair value of the derivatives utilized in our trading activities is recorded in foreign exchange revenue and investment and other revenue on the consolidated income statement.

The following table presents our foreign exchange revenue and other trading revenue.

Foreign exchange revenue and other trading revenue
(in millions)	3Q22		2Q22		3Q21		YTD22		YTD21
Foreign exchange revenue	$	203	$	222	$	185	$	632	$	600
Other trading revenue	65		45		20		115		12

Foreign exchange revenue includes income from purchasing and selling foreign currencies, currency forwards, futures and options as well as foreign currency remeasurement. Other trading revenue reflects results from trading in cash instruments, including fixed income and equity securities, and

trading and economic hedging activity with non-foreign exchange derivatives.

We also use derivative financial instruments as risk-mitigating economic hedges, which are not formally designated as accounting hedges. This includes hedging the foreign currency, interest rate or market risks inherent in some of our balance sheet exposures, such as seed capital investments and deposits, as well as certain investment management fee revenue streams. We also use total return swaps to economically hedge obligations arising from the Company’s deferred compensation plan whereby the participants defer compensation and earn a return linked to the performance of investments they select. The gains or losses on these total return swaps are recorded in staff expense on the consolidated income statement and were losses of $11 million in the third quarter of 2022, $2 million in the third quarter of 2021, $30 million in the second quarter of 2022 and $54 million in the first nine months of 2022 and a gain of $21 million in the first nine months of 2021.

We manage trading risk through a system of position limits, a value-at-risk (“VaR”) methodology based on historical simulation and other market sensitivity

BNY Mellon 91

Notes to Consolidated Financial Statements (continued)

measures. Risk is monitored and reported to senior management by a separate unit, independent from trading, on a daily basis. Based on certain assumptions, the VaR methodology is designed to capture the potential overnight pre-tax dollar loss from adverse changes in fair values of all trading positions. The calculation assumes a one-day holding period, utilizes a 99% confidence level and incorporates non-linear product characteristics. The VaR model is one of several statistical models used to develop economic capital results, which are allocated to lines of business for computing risk-adjusted performance.

The VaR methodology does not evaluate risk attributable to extraordinary financial, economic or other occurrences. As a result, the risk assessment process includes a number of stress scenarios based upon the risk factors in the portfolio and management’s assessment of market conditions. Additional stress scenarios based upon historical market events are also performed. Stress tests may incorporate the impact of reduced market liquidity and the breakdown of historically observed correlations and extreme scenarios. VaR and other statistical measures, stress testing and sensitivity analysis are incorporated into other risk management materials.

Counterparty credit risk and collateral

We assess the credit risk of our counterparties through regular examination of their financial statements, confidential communication with the management of those counterparties and regular monitoring of publicly available credit rating information. This and other information is used to develop proprietary credit rating metrics used to assess credit quality.

Collateral requirements are determined after a comprehensive review of the credit quality of each counterparty. Collateral is generally held or pledged in the form of cash and/or highly liquid government securities. Collateral requirements are monitored and adjusted daily.

Additional disclosures concerning derivative financial instruments are provided in Note 15.

Disclosure of contingent features in over-the-counter (“OTC”) derivative instruments

Certain OTC derivative contracts and/or collateral agreements contain credit risk-contingent features triggered upon a rating downgrade in which the counterparty has the right to request additional collateral or the right to terminate the contracts in a net liability position.

The following table shows the aggregate fair value of OTC derivative contracts in net liability positions that contained credit risk-contingent features and the value of collateral that has been posted.

	Sept. 30, 2022		Dec. 31, 2021
(in millions)
Aggregate fair value of OTC derivatives in net liability positions (a)	$	4,709	$	3,606
Collateral posted	$	5,667	$	5,388

(a)    Before consideration of cash collateral.

The aggregate fair value of OTC derivative contracts containing credit risk-contingent features can fluctuate from quarter to quarter due to changes in market conditions, composition of counterparty trades, new business or changes to the contingent features.

The Bank of New York Mellon, our largest banking subsidiary, enters into the substantial majority of our OTC derivative contracts and/or collateral agreements. As such, the contingent features may be triggered if The Bank of New York Mellon’s long-term issuer rating were downgraded.

The following table shows the fair value of contracts falling under early termination provisions that were in net liability positions for three key ratings triggers.

Potential close-out exposures (fair value) (a)
	Sept. 30, 2022		Dec. 31, 2021
(in millions)
If The Bank of New York Mellon’s rating changed to: (b)
A3/A-	$	123	$	56
Baa2/BBB	$	621	$	563
Ba1/BB+	$	1,802	$	1,778

(a)    The amounts represent potential total close-out values if The Bank of New York Mellon’s long-term issuer rating were to immediately drop to the indicated levels, and do not reflect collateral posted.

(b)    Represents ratings by Moody’s/S&P.

92 BNY Mellon

Notes to Consolidated Financial Statements (continued)

If The Bank of New York Mellon’s debt rating had fallen below investment grade on Sept. 30, 2022 and Dec. 31, 2021, existing collateral arrangements would

have required us to post additional collateral of $253 million and $71 million, respectively.

Offsetting assets and liabilities

The following tables present derivative and financial instruments and their related offsets. There were no derivative instruments or financial instruments subject to a legally enforceable netting agreement for which we are not currently netting.

Offsetting of derivative assets and financial assets at Sept. 30, 2022
	Gross assets recognized		Gross amounts offset in the balance sheet			Net assets recognized in the balance sheet		Gross amounts not offset in the balance sheet
(in millions)					(a)			Financial instruments		Cash collateral received		Net amount
Derivatives subject to netting arrangements:
Interest rate contracts	$	1,404	$	1,054		$	350	$	57	$	—	$	293
Foreign exchange contracts	14,986		11,914			3,072		162		—		2,910
Equity and other contracts	244		79			165		20		—		145
Total derivatives subject to netting arrangements	16,634		13,047			3,587		239		—		3,348
Total derivatives not subject to netting arrangements	1,420		—			1,420		—		—		1,420
Total derivatives	18,054		13,047			5,007		239		—		4,768
Reverse repurchase agreements	60,063		45,006		(b)	15,057		14,940		—		117
Securities borrowing	8,426		—			8,426		8,001		—		425
Total	$	86,543	$	58,053		$	28,490	$	23,180	$	—	$	5,310

(a)    Includes the effect of netting agreements and net cash collateral received. The offset related to the OTC derivatives was allocated to the various types of derivatives based on the net positions.

(b)    Offsetting of reverse repurchase agreements relates to our involvement in the Fixed Income Clearing Corporation (“FICC”), where we settle government securities transactions on a net basis for payment and delivery through the Fedwire system.

Offsetting of derivative assets and financial assets at Dec. 31, 2021
	Gross assets recognized		Gross amounts offset in the balance sheet			Net assets recognized in the balance sheet		Gross amounts not offset in the balance sheet
(in millions)					(a)			Financial instruments		Cash collateral received		Net amount
Derivatives subject to netting arrangements:
Interest rate contracts	$	2,132	$	1,424		$	708	$	206	$	—	$	502
Foreign exchange contracts	6,122		5,501			621		69		—		552
Equity and other contracts	48		48			—		—		—		—
Total derivatives subject to netting arrangements	8,302		6,973			1,329		275		—		1,054
Total derivatives not subject to netting arrangements	1,491		—			1,491		—		—		1,491
Total derivatives	9,793		6,973			2,820		275		—		2,545
Reverse repurchase agreements	72,661		54,709		(b)	17,952		17,922		—		30
Securities borrowing	11,655		—			11,655		11,036		—		619
Total	$	94,109	$	61,682		$	32,427	$	29,233	$	—	$	3,194

(a)    Includes the effect of netting agreements and net cash collateral received. The offset related to the OTC derivatives was allocated to the various types of derivatives based on the net positions.

(b)    Offsetting of reverse repurchase agreements relates to our involvement in the FICC, where we settle government securities transactions on a net basis for payment and delivery through the Fedwire system.

BNY Mellon 93

Notes to Consolidated Financial Statements (continued)

Offsetting of derivative liabilities and financial liabilities at Sept. 30, 2022						Net liabilities recognized in the balance sheet
	Gross liabilities recognized		Gross amounts offset in the balance sheet					Gross amounts not offset in the balance sheet
(in millions)					(a)			Financial instruments		Cash collateral pledged		Net amount
Derivatives subject to netting arrangements:
Interest rate contracts	$	1,560	$	1,026		$	534	$	66	$	—	$	468
Foreign exchange contracts	14,897		12,624			2,273		391		—		1,882
Equity and other contracts	22		2			20		—		—		20
Total derivatives subject to netting arrangements	16,479		13,652			2,827		457		—		2,370
Total derivatives not subject to netting arrangements	1,139		—			1,139		—		—		1,139
Total derivatives	17,618		13,652			3,966		457		—		3,509
Repurchase agreements	54,476		45,006		(b)	9,470		9,440		29		1
Securities lending	1,869		—			1,869		1,777		—		92
Total	$	73,963	$	58,658		$	15,305	$	11,674	$	29	$	3,602

(a)    Includes the effect of netting agreements and net cash collateral paid. The offset related to the OTC derivatives was allocated to the various types of derivatives based on the net positions.

(b)    Offsetting of repurchase agreements relates to our involvement in the FICC, where we settle government securities transactions on a net basis for payment and delivery through the Fedwire system.

Offsetting of derivative liabilities and financial liabilities at Dec. 31, 2021						Net liabilities recognized in the balance sheet
	Gross liabilities recognized		Gross amounts offset in the balance sheet					Gross amounts not offset in the balance sheet
(in millions)					(a)			Financial instruments		Cash collateral pledged		Net amount
Derivatives subject to netting arrangements:
Interest rate contracts	$	3,263	$	2,028		$	1,235	$	1,197	$	—	$	38
Foreign exchange contracts	5,619		4,111			1,508		29		—		1,479
Equity and other contracts	211		196			15		—		—		15
Total derivatives subject to netting arrangements	9,093		6,335			2,758		1,226		—		1,532
Total derivatives not subject to netting arrangements	666		—			666		—		—		666
Total derivatives	9,759		6,335			3,424		1,226		—		2,198
Repurchase agreements	64,734		54,709		(b)	10,025		10,025		—		—
Securities lending	1,541		—			1,541		1,478		—		63
Total	$	76,034	$	61,044		$	14,990	$	12,729	$	—	$	2,261

(a)    Includes the effect of netting agreements and net cash collateral paid. The offset related to the OTC derivatives was allocated to the various types of derivatives based on the net positions.

(b)    Offsetting of repurchase agreements relates to our involvement in the FICC, where we settle government securities transactions on a net basis for payment and delivery through the Fedwire system.

94 BNY Mellon

Notes to Consolidated Financial Statements (continued)

Secured borrowings

The following table presents the contract value of repurchase agreements and securities lending transactions accounted for as secured borrowings by the type of collateral provided to counterparties.

Repurchase agreements and securities lending transactions accounted for as secured borrowings
	Sept. 30, 2022										Dec. 31, 2021
	Remaining contractual maturity								Total		Remaining contractual maturity								Total
(in millions)	Overnight and continuous		Up to 30 days		30-90 days		Over 90 days				Overnight and continuous		Up to 30 days		30-90 days		Over 90 days
Repurchase agreements:
U.S. Treasury	$	46,527	$	—	$	1,063	$	508	$	48,098	$	56,556	$	304	$	450	$	—	$	57,310
Agency RMBS	1,786		40		2		—		1,828		2,795		1		—		—		2,796
Corporate bonds	114		160		647		269		1,190		97		77		870		270		1,314
Sovereign debt/sovereign guaranteed	622		—		1		—		623		160		—		—		—		160
State and political subdivisions	27		55		250		98		430		44		16		630		155		845
U.S. government agencies	397		—		—		—		397		503		—		—		—		503
Other debt securities	4		19		9		—		32		—		30		245		—		275
Equity securities	—		26		1,852		—		1,878		—		276		1,255		—		1,531
Total	$	49,477	$	300	$	3,824	$	875	$	54,476	$	60,155	$	704	$	3,450	$	425	$	64,734
Securities lending:
Agency RMBS	$	101	$	—	$	—	$	—	$	101	$	152	$	—	$	—	$	—	$	152
Other debt securities	75		—		—		—		75		88		—		—		—		88
Equity securities	1,693		—		—		—		1,693		1,301		—		—		—		1,301
Total	$	1,869	$	—	$	—	$	—	$	1,869	$	1,541	$	—	$	—	$	—	$	1,541
Total secured borrowings	$	51,346	$	300	$	3,824	$	875	$	56,345	$	61,696	$	704	$	3,450	$	425	$	66,275

BNY Mellon’s repurchase agreements and securities lending transactions primarily encounter risk associated with liquidity. We are required to pledge collateral based on predetermined terms within the agreements. If we were to experience a decline in the fair value of the collateral pledged for these transactions, we could be required to provide additional collateral to the counterparty, therefore decreasing the amount of assets available for other liquidity needs that may arise. BNY Mellon also offers tri-party collateral agency services in the tri-party repo market where we are exposed to credit risk. In order to mitigate this risk, we require dealers to fully secure intra-day credit.

Note 18–Commitments and contingent liabilities

Off-balance sheet arrangements

In the normal course of business, various commitments and contingent liabilities are outstanding that are not reflected in the accompanying consolidated balance sheets.

Our significant trading and off-balance sheet risks are securities, foreign currency and interest rate risk management products, commercial lending commitments, letters of credit and securities lending indemnifications. We assume these risks to reduce interest rate and foreign currency risks, to provide customers with the ability to meet credit and liquidity needs and to hedge foreign currency and interest rate risks. These items involve, to varying degrees, credit, foreign currency and interest rate risks not recognized on the balance sheet. Our off-balance sheet risks are managed and monitored in manners similar to those used for on-balance sheet risks.

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Notes to Consolidated Financial Statements (continued)

The following table presents a summary of our off-balance sheet credit risks.

Off-balance sheet credit risks	Sept. 30, 2022		Dec. 31, 2021
(in millions)
Lending commitments	$	50,000	$	46,183
Standby letters of credit (“SBLC”) (a)	2,013		1,971
Commercial letters of credit	46		56
Securities lending indemnifications (b)(c)	482,002		487,298

(a)Net of participations totaling $138 million at Sept. 30, 2022 and $128 million at Dec. 31, 2021.

(b)Excludes the indemnification for securities for which BNY Mellon acts as an agent on behalf of CIBC Mellon clients, which totaled $71 billion at Sept. 30, 2022 and $67 billion at Dec. 31, 2021.

(c)Includes cash collateral, invested in indemnified repurchase agreements, held by us as securities lending agent of $50 billion at Sept. 30, 2022 and $48 billion at Dec. 31, 2021.

The total potential loss on undrawn lending commitments, standby and commercial letters of credit and securities lending indemnifications is equal to the total notional amount if drawn upon, which does not consider the value of any collateral.

Since many of the lending commitments are expected to expire without being drawn upon, the total amount does not necessarily represent future cash requirements. A summary of lending commitment maturities is as follows: $29.8 billion in less than one year, $19.4 billion in one to five years and $859 million over five years.

SBLCs principally support obligations of corporate clients and were collateralized with cash and securities of $161 million at Sept. 30, 2022 and $172 million at Dec. 31, 2021. At Sept. 30, 2022, $1.4 billion of the SBLCs will expire within one year, $621 million in one to five years and none over five years.

We must recognize, at the inception of an SBLC and foreign and other guarantees, a liability for the fair value of the obligation undertaken in issuing the guarantee. The fair value of the liability, which was recorded with a corresponding asset in other assets, was estimated as the present value of contractual customer fees. The estimated liability for losses related to SBLCs and foreign and other guarantees, if any, is included in the allowance for lending-related commitments.

Payment/performance risk of SBLCs is monitored using both historical performance and internal ratings criteria. BNY Mellon’s historical experience is that SBLCs typically expire without being funded. SBLCs below investment grade are monitored closely for payment/performance risk. The table below shows SBLCs by investment grade:

Standby letters of credit	Sept. 30, 2022		Dec. 31, 2021
Investment grade	76	%	85	%
Non-investment grade	24	%	15	%

A commercial letter of credit is normally a short-term instrument used to finance a commercial contract for the shipment of goods from a seller to a buyer. Although the commercial letter of credit is contingent upon the satisfaction of specified conditions, it represents a credit exposure if the buyer defaults on the underlying transaction. As a result, the total contractual amounts do not necessarily represent future cash requirements. Commercial letters of credit totaled $46 million at Sept. 30, 2022 and $56 million at Dec. 31, 2021.

We expect many of the lending commitments and letters of credit to expire without the need to advance any cash. The revenue associated with guarantees frequently depends on the credit rating of the obligor and the structure of the transaction, including collateral, if any. The allowance for lending-related commitments was $72 million at Sept. 30, 2022 and $45 million at Dec. 31, 2021.

A securities lending transaction is a fully collateralized transaction in which the owner of a security agrees to lend the security (typically through an agent, in our case, The Bank of New York Mellon) to a borrower, usually a broker-dealer or bank, on an open, overnight or term basis, under the terms of a prearranged contract.

We typically lend securities with indemnification against borrower default. We generally require the borrower to provide collateral with a minimum value of 102% of the fair value of the securities borrowed, which is monitored on a daily basis, thus reducing credit risk. Market risk can also arise in securities lending transactions. These risks are controlled through policies limiting the level of risk that can be undertaken. Securities lending transactions are generally entered into only with highly rated

96 BNY Mellon

Notes to Consolidated Financial Statements (continued)

counterparties. Securities lending indemnifications were secured by collateral of $506 billion at Sept. 30, 2022 and $511 billion at Dec. 31, 2021.

CIBC Mellon, a joint venture between BNY Mellon and the Canadian Imperial Bank of Commerce (“CIBC”), engages in securities lending activities.  CIBC Mellon, BNY Mellon and CIBC jointly and severally indemnify securities lenders against specific types of borrower default. At Sept. 30, 2022 and Dec. 31, 2021, $71 billion and $67 billion, respectively, of borrowings at CIBC Mellon, for which BNY Mellon acts as agent on behalf of CIBC Mellon clients, were secured by collateral of $76 billion and $71 billion, respectively. If, upon a default, a borrower’s collateral was not sufficient to cover its related obligations, certain losses related to the indemnification could be covered by the indemnitors.

Unsettled repurchase and reverse repurchase agreements

In the normal course of business, we enter into repurchase agreements and reverse repurchase agreements that settle at a future date. In repurchase agreements, BNY Mellon receives cash from and provides securities as collateral to a counterparty at settlement. In reverse repurchase agreements, BNY Mellon advances cash to and receives securities as collateral from the counterparty at settlement. These transactions are recorded on the consolidated balance sheet on the settlement date. At Sept. 30, 2022, we had $2.5 billion of unsettled repurchase agreements and $6.1 billion of unsettled reverse repurchase agreements. At Dec. 31, 2021, we had $2.6 billion of unsettled repurchase agreements and $9.1 billion of unsettled reverse repurchase agreements.

Industry concentrations

We have significant industry concentrations related to credit exposure at Sept. 30, 2022. The tables below present our credit exposure in the financial institutions and commercial portfolios.

Financial institutions portfolio exposure (in billions)	Sept. 30, 2022
	Loans		Unfunded commitments		Total exposure
Securities industry	$	1.7	$	18.8	$	20.5
Asset managers	1.6		8.0		9.6
Banks	7.3		1.5		8.8
Insurance	0.1		3.7		3.8
Government	—		0.3		0.3
Other	0.4		0.9		1.3
Total	$	11.1	$	33.2	$	44.3

Commercial portfolio exposure (in billions)	Sept. 30, 2022
	Loans		Unfunded commitments		Total exposure
Manufacturing	$	0.8	$	4.1	$	4.9
Services and other	1.0		3.1		4.1
Energy and utilities	0.2		3.7		3.9
Media and telecom	0.1		0.7		0.8
Total	$	2.1	$	11.6	$	13.7

Major concentrations in securities lending are primarily to broker-dealers and are generally collateralized with cash and/or securities.

Sponsored member repo program

BNY Mellon is a sponsoring member in the FICC sponsored member program, where we submit eligible repurchase and reverse repurchase transactions in U.S. Treasury and agency securities (“Sponsored Member Transactions”) between BNY Mellon and our sponsored member clients for novation and clearing through FICC pursuant to the FICC Government Securities Division rulebook (the “FICC Rules”). We also guarantee to FICC the prompt and full payment and performance of our sponsored member clients’ respective obligations under the FICC Rules in connection with such clients’ Sponsored Member Transactions. We minimize our credit exposure under this guaranty by obtaining a security interest in our sponsored member clients’ collateral and rights under Sponsored Member Transactions. See “Offsetting assets and liabilities” in Note 17 for additional information on our repurchase and reverse repurchase agreements.

Indemnification arrangements

We have provided standard representations for underwriting agreements, acquisition and divestiture agreements, sales of loans and commitments, and other similar types of arrangements and customary indemnification for claims and legal proceedings

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Notes to Consolidated Financial Statements (continued)

related to providing financial services that are not otherwise included above. Insurance has been purchased to mitigate certain of these risks. Generally, there are no stated or notional amounts included in these indemnifications and the contingencies triggering the obligation for indemnification are not expected to occur. Furthermore, often counterparties to these transactions provide us with comparable indemnifications. We are unable to develop an estimate of the maximum payout under these indemnifications for several reasons. In addition to the lack of a stated or notional amount in a majority of such indemnifications, we are unable to predict the nature of events that would trigger indemnification or the level of indemnification for a certain event. We believe, however, that the possibility that we will have to make any material payments for these indemnifications is remote. At Sept. 30, 2022 and Dec. 31, 2021, we have not recorded any material liabilities under these arrangements.

Clearing and settlement exchanges

We are a noncontrolling equity investor in, and/or member of, several industry clearing or settlement exchanges through which foreign exchange, securities, derivatives or other transactions settle. Certain of these industry clearing and settlement exchanges require their members to guarantee their obligations and liabilities and/or to provide liquidity support in the event other members do not honor their obligations. We believe the likelihood that a clearing or settlement exchange (of which we are a member) would become insolvent is remote. Additionally, certain settlement exchanges have implemented loss allocation policies that enable the exchange to allocate settlement losses to the members of the exchange. It is not possible to quantify such mark-to-market loss until the loss occurs. Any ancillary costs that occur as a result of any mark-to-market loss cannot be quantified. In addition, we also sponsor clients as members on clearing and settlement exchanges and guarantee their obligations. At Sept. 30, 2022 and Dec. 31, 2021, we did not record any material liabilities under these arrangements.

Legal proceedings

In the ordinary course of business, The Bank of New York Mellon Corporation and its subsidiaries are routinely named as defendants in or made parties to pending and potential legal actions. We also are subject to governmental and regulatory examinations,

information-gathering requests, investigations and proceedings (both formal and informal). Claims for significant monetary damages are often asserted in many of these legal actions, while claims for disgorgement, restitution, penalties and/or other remedial actions or sanctions may be sought in governmental and regulatory matters. It is inherently difficult to predict the eventual outcomes of such matters given their complexity and the particular facts and circumstances at issue in each of these matters. However, on the basis of our current knowledge and understanding, we do not believe that judgments, settlements or orders, if any, arising from these matters (either individually or in the aggregate, after giving effect to applicable reserves and insurance coverage) will have a material adverse effect on the consolidated financial position or liquidity of BNY Mellon, although they could have a material effect on our results of operations in a given period.

In view of the inherent unpredictability of outcomes in litigation and regulatory matters, particularly where (i) the damages sought are substantial or indeterminate, (ii) the proceedings are in the early stages, or (iii) the matters involve novel legal theories or a large number of parties, as a matter of course there is considerable uncertainty surrounding the timing or ultimate resolution of litigation and regulatory matters, including a possible eventual loss, fine, penalty or business impact, if any, associated with each such matter. In accordance with applicable accounting guidance, we establish accruals for litigation and regulatory matters when those matters proceed to a stage where they present loss contingencies that are both probable and reasonably estimable. In such cases, there may be a possible exposure to loss in excess of any amounts accrued. We regularly monitor such matters for developments that could affect the amount of the accrual, and will adjust the accrual amount as appropriate. If the loss contingency in question is not both probable and reasonably estimable, we do not establish an accrual and the matter continues to be monitored for any developments that would make the loss contingency both probable and reasonably estimable. We believe that our accruals for legal proceedings are appropriate and, in the aggregate, are not material to the consolidated financial position of BNY Mellon, although future accruals could have a material effect on the results of operations in a given period. In addition, if we have the potential to recover a portion of an estimated loss from a third party, we record a

98 BNY Mellon

Notes to Consolidated Financial Statements (continued)

receivable up to the amount of the accrual that is probable of recovery.

For certain of those matters described here for which a loss contingency may, in the future, be reasonably possible (whether in excess of a related accrued liability or where there is no accrued liability), BNY Mellon is currently unable to estimate a range of reasonably possible loss. For those matters described here where BNY Mellon is able to estimate a reasonably possible loss, the aggregate range of such reasonably possible loss is up to $520 million in excess of the accrued liability (if any) related to those matters. For matters where a reasonably possible loss is denominated in a foreign currency, our estimate is adjusted quarterly based on prevailing exchange rates. We do not consider potential recoveries when estimating reasonably possible losses.

The following describes certain judicial, regulatory and arbitration proceedings involving BNY Mellon:

Mortgage-Securitization Trusts Proceedings

The Bank of New York Mellon has been named as a defendant in a number of legal actions brought by MBS investors alleging that the trustee has expansive duties under the governing agreements, including the duty to investigate and pursue breach of representation and warranty claims against other parties to the MBS transactions. Three actions commenced in December 2014, December 2015 and February 2017 are pending in New York federal court. In New York state court, seven actions are pending: one case commenced in May 2016; three related cases commenced in September 2021 and October 2022; and three related cases commenced in October 2021, December 2021 and February 2022.

Matters Related to R. Allen Stanford

In late December 2005, Pershing LLC (“Pershing”) became a clearing firm for Stanford Group Co. (“SGC”), a registered broker-dealer that was part of a group of entities ultimately controlled by R. Allen Stanford (“Stanford”). Stanford International Bank, also controlled by Stanford, issued certificates of deposit (“CDs”). Some investors allegedly wired funds from their SGC accounts to purchase CDs. In 2009, the Securities and Exchange Commission charged Stanford with operating a Ponzi scheme in connection with the sale of CDs, and SGC was placed into receivership. Alleged purchasers of CDs have filed two putative class action proceedings against Pershing: one in November 2009 in Texas federal

court, and one in May 2016 in New Jersey federal court. On Nov. 5, 2021, the court dismissed the class action filed in New Jersey and that matter has concluded. Three lawsuits remain against Pershing in Louisiana and New Jersey federal courts, which were filed in January 2010, October 2015 and May 2016. The purchasers allege that Pershing, as SGC’s clearing firm, assisted Stanford in a fraudulent scheme and assert contractual, statutory and common law claims. In March 2019, a group of investors filed a putative class action against The Bank of New York Mellon in New Jersey federal court, making the same allegations as in the prior actions brought against Pershing. On Nov. 12, 2021, the court dismissed the class action against The Bank of New York Mellon and that matter is on appeal. All the cases that have been brought in federal court against Pershing have been consolidated in Texas federal court for discovery purposes. Various alleged Stanford CD purchasers asserted similar claims in Financial Industry Regulatory Authority, Inc. (“FINRA”) arbitration proceedings.

Brazilian Postalis Litigation

BNY Mellon Servicos Financeiros DTVM S.A. (“DTVM”), a subsidiary that provides asset services in Brazil, acts as administrator for certain investment funds in which a public pension fund for postal workers called Postalis-Instituto de Seguridade Social dos Correios e Telégrafos (“Postalis”) invested. On Aug. 22, 2014, Postalis sued DTVM in Rio de Janeiro, Brazil for losses related to a Postalis fund for which DTVM is administrator. Postalis alleges that DTVM failed to properly perform duties, including to conduct due diligence of and exert control over the manager. On March 12, 2015, Postalis filed a lawsuit in Rio de Janeiro against DTVM and BNY Mellon Administração de Ativos Ltda. (“Ativos”) alleging failure to properly perform duties relating to another fund of which DTVM is administrator and Ativos is manager. On Dec. 14, 2015, Associacão dos Profissionais dos Correios (“ADCAP”), a Brazilian postal workers association, filed a lawsuit in São Paulo against DTVM and other defendants alleging that DTVM improperly contributed to Postalis investment losses. On March 20, 2017, the lawsuit was dismissed without prejudice, and ADCAP appealed. On Aug. 4, 2021, the appellate court overturned the dismissal and sent the lawsuit to a state lower court. On Dec. 17, 2015, Postalis filed three lawsuits in Rio de Janeiro against DTVM and Ativos alleging failure to properly perform duties with respect to investments in several other funds.

BNY Mellon 99

Notes to Consolidated Financial Statements (continued)

On May 20, 2021, the court in one of those lawsuits entered a judgment of approximately $3 million against DTVM and Ativos. On Aug. 23, 2021, DTVM and Ativos filed an appeal of the May 20 decision. On June 7, 2022, the appellate court partially granted and partially denied the appeal, reducing the judgment to approximately $2 million. DTVM and Ativos intend to file a further appeal. On Aug. 24, 2022, the court dismissed one of the other lawsuits. On Feb. 4, 2016, Postalis filed a lawsuit in Brasilia against DTVM, Ativos and BNY Mellon Alocação de Patrimônio Ltda. (“Alocação de Patrimônio”), an investment management subsidiary, alleging failure to properly perform duties and liability for losses with respect to investments in various funds of which the defendants were administrator and/or manager. On Jan. 16, 2018, the Brazilian Federal Prosecution Service (“MPF”) filed a civil lawsuit in São Paulo against DTVM alleging liability for Postalis losses based on alleged failures to properly perform certain duties as administrator to certain funds in which Postalis invested or as controller of Postalis’s own investment portfolio. On April 18, 2018, the court dismissed the lawsuit without prejudice. On Aug. 4, 2021, the appellate court overturned the dismissal and returned the lawsuit to the lower court. On April 11, 2022, DTVM appealed the Aug. 4 decision to Brazil’s Superior Court of Justice. In addition, the Tribunal de Contas da União (“TCU”), an administrative tribunal, has initiated three proceedings with the purpose of determining liability for losses to three investment funds administered by DTVM in which Postalis was an investor. On Sept. 9, 2020, TCU rendered a decision in one of the proceedings, finding DTVM and two former Postalis directors jointly and severally liable for approximately $50 million. TCU also imposed on DTVM a fine of approximately $2 million. DTVM’s administrative appeal of the decision was denied. On Feb. 25, 2022, DTVM filed a lawsuit in Brazil federal court in Brasilia seeking annulment of TCU’s decision and an injunction preventing TCU from enforcing the judgment. On Oct. 4, 2019, Postalis and another pension fund filed a request for arbitration in São Paulo against DTVM and Ativos alleging liability for losses to an investment fund for which DTVM was administrator and Ativos was manager. On March 26, 2021, DTVM and Ativos filed a lawsuit challenging the decision rendered by the Arbitration Court with respect to its jurisdiction over the case. On Oct. 25, 2019, Postalis filed a lawsuit in Rio de Janeiro against DTVM and Alocação de Patrimônio, alleging liability

for losses in another fund for which DTVM was administrator and Alocação de Patrimônio and Ativos were managers. On May 9, 2022, the court found DTVM and Alocação de Patrimônio jointly and severally liable for approximately $20 million. On Aug. 12, 2022, DTVM and Alocação de Patrimônio appealed the decision. On June 19, 2020, a lawsuit was filed in federal court in Rio de Janeiro against DTVM, Postalis, and various other defendants alleging liability against DTVM for certain Postalis losses in an investment fund of which DTVM was administrator. On Feb. 10, 2021, Postalis and another pension fund served DTVM in a lawsuit filed in Rio de Janeiro, alleging liability for losses in another investment fund for which DTVM was administrator and the other defendant was manager.

Brazilian Silverado Litigation

DTVM acts as administrator for the Fundo de Investimento em Direitos Creditórios Multisetorial Silverado Maximum (“Silverado Maximum Fund”), which invests in commercial credit receivables. On June 2, 2016, the Silverado Maximum Fund sued DTVM in its capacity as administrator, along with Deutsche Bank S.A. - Banco Alemão in its capacity as custodian and Silverado Gestão e Investimentos Ltda. in its capacity as investment manager. The Fund alleges that each of the defendants failed to fulfill its respective duty, and caused losses to the Fund for which the defendants are jointly and severally liable.

German Tax Matters

German authorities are investigating past “cum/ex” trading, which involved the purchase of equity securities on or shortly before the dividend date, but settled after that date, potentially resulting in an unwarranted refund of withholding tax. German authorities have taken the view that past cum/ex trading may have resulted in tax avoidance or evasion. European subsidiaries of BNY Mellon have been informed by German authorities about investigations into potential cum/ex trading by certain third-party investment funds, where one of the subsidiaries had acquired entities that served as depositary and/or fund manager for those third-party investment funds. We have received information requests from the authorities relating to pre-acquisition activity and are cooperating fully with those requests. In August 2019, the District Court of Bonn ordered that one of these subsidiaries be joined as a secondary party in connection with the prosecution of unrelated individual defendants. Trial

100 BNY Mellon

Notes to Consolidated Financial Statements (continued)

commenced in September 2019. In March 2020, the court stated that it would refrain from taking action against the subsidiary in order to expedite the conclusion of the trial. The court convicted the unrelated individual defendants, and determined that the cum/ex trading activities of the relevant third-party investment funds were unlawful. In November and December 2020, we received secondary liability notices from the German tax authorities totaling approximately $150 million (at then-prevailing exchange rates) related to pre-acquisition activity in various funds for which the entities we acquired were depositary and/or fund manager. We have appealed the notices. In connection with the acquisition of the subject entities, we obtained an indemnity for liabilities from the sellers that we intend to pursue as necessary.

Note 19–Business segments

We have an internal information system that produces performance data along product and service lines for our three principal business segments and the Other segment. The primary products and services and types of revenue for our principal businesses and a description of the Other segment are presented in Note 24 of the Notes to Consolidated Financial Statements in our 2021 Annual Report.

Business accounting principles

Our business data has been determined on an internal management basis of accounting, rather than GAAP which is used for consolidated financial reporting. These measurement principles are designed so that reported results of the businesses will track their economic performance.

Business segment results are subject to reclassification when organizational changes are made, or for refinements in revenue and expense allocation methodologies. Refinements are typically reflected on a prospective basis. There were no reclassification or organization changes in the third quarter of 2022.

The accounting policies of the businesses are the same as those described in Note 1 of the Notes to Consolidated Financial Statements in our 2021 Annual Report.

The results of our business segments are presented and analyzed on an internal management reporting basis.

•Revenue amounts reflect fee and other revenue generated by each business and include revenue for services provided between the segments that are also provided to third parties. Fee and other revenue transferred between businesses under revenue transfer agreements is included within other fees in each segment.

•Revenues and expenses associated with specific client bases are included in those businesses. For example, foreign exchange activity associated with clients using custody products is included in the Securities Services segment.

•Net interest revenue is allocated to businesses based on the yields on the assets and liabilities generated by each business. We employ a funds transfer pricing system that matches funds with the specific assets and liabilities of each business based on their interest sensitivity and maturity characteristics.

•The provision for credit losses associated with the respective credit portfolios is reflected in each segment.

•Incentives expense related to restricted stock and RSUs is allocated to the segments.

•Support and other indirect expenses, including services provided between segments that are not provided to third parties or not subject to a revenue transfer agreement, are allocated to the businesses based on internally developed methodologies and reflected in noninterest expense.

•Recurring FDIC expense is allocated to the businesses based on average deposits generated within each business.

•Litigation expense is generally recorded in the business in which the charge occurs.

•Management of the securities portfolio is a shared service contained in the Other segment. As a result, gains and losses associated with the valuation of the securities portfolio are generally included in the Other segment.

•Client deposits serve as the primary funding source for our securities portfolio. We typically allocate all interest revenue to the businesses generating the deposits. Accordingly, accretion

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Notes to Consolidated Financial Statements (continued)

related to the portion of the securities portfolio restructured in 2009 has been included in the results of the businesses.

•Balance sheet assets and liabilities and their related income or expense are specifically

assigned to each business. Segments with a net liability position have been allocated assets.

•Goodwill and intangible assets are reflected within individual businesses.

The following consolidating schedules present the contribution of our segments to our overall profitability.

For the quarter ended Sept. 30, 2022	Securities Services			Market and Wealth Services			Investment and Wealth Management				Other		Consolidated
(dollars in millions)
Total fee and other revenue	$	1,536		$	989		$	805		(a)	$	23	$	3,353		(a)
Net interest revenue (expense)	538			378			57				(47)		926
Total revenue (loss)	2,074			1,367			862			(a)	(24)		4,279			(a)
Provision for credit losses	(6)			(1)			3				(26)		(30)
Noninterest expense	1,557			737			1,356				29		3,679
Income (loss) before income taxes	$	523		$	631		$	(497)		(a)	$	(27)	$	630		(a)
Pre-tax operating margin (b)	25		%	46		%	(57)		%		N/M		15		%
Average assets	$	203,063		$	138,204		$	29,996			$	44,407	$	415,670

(a)    Total fee and other revenue, total revenue and income before income taxes are net of loss attributable to noncontrolling interests related to consolidated investment management funds of $— million.

(b)    Income before income taxes divided by total revenue.

N/M – Not meaningful.

For the quarter ended June 30, 2022	Securities Services			Market and Wealth Services			Investment and Wealth Management				Other		Consolidated
(dollars in millions)
Total fee and other revenue	$	1,549		$	974		$	837		(a)	$	75	$	3,435		(a)
Net interest revenue (expense)	457			340			62				(35)		824
Total revenue	2,006			1,314			899			(a)	40		4,259			(a)
Provision for credit losses	13			4			—				30		47
Noninterest expense	1,656			702			691				63		3,112
Income (loss) before income taxes	$	337		$	608		$	208		(a)	$	(53)	$	1,100		(a)
Pre-tax operating margin (b)	17		%	46		%	23		%		N/M		26		%
Average assets	$	219,797		$	141,952		$	33,668			$	42,206	$	437,623

(a)    Total fee and other revenue, total revenue and income before income taxes are net of loss attributable to noncontrolling interests related to consolidated investment management funds of $5 million.

(b)    Income before income taxes divided by total revenue.

N/M – Not meaningful.

For the quarter ended Sept. 30, 2021	Securities Services			Market and Wealth Services			Investment and Wealth Management				Other		Consolidated
(dollars in millions)
Total fee and other revenue	$	1,488		$	890		$	985		(a)	$	35	$	3,398		(a)
Net interest revenue (expense)	349			283			47				(38)		641
Total revenue (loss)	1,837			1,173			1,032			(a)	(3)		4,039			(a)
Provision for credit losses	(19)			(16)			(7)				(3)		(45)
Noninterest expense	1,543			668			691				16		2,918
Income (loss) before income taxes	$	313		$	521		$	348		(a)	$	(16)	$	1,166		(a)
Pre-tax operating margin (b)	17		%	44		%	34		%		N/M		29		%
Average assets	$	226,930		$	143,630		$	30,195			$	46,006	$	446,761

(a)    Total fee and other revenue, total revenue and income before income taxes are net of loss attributable to noncontrolling interests related to consolidated investment management funds of $4 million.

(b)    Income before income taxes divided by total revenue.

N/M – Not meaningful.

102 BNY Mellon

Notes to Consolidated Financial Statements (continued)

For the nine months ended Sept. 30, 2022	Securities Services			Market and Wealth Services			Investment and Wealth Management				Other		Consolidated
(dollars in millions)
Total fee and other revenue	$	4,488		$	2,869		$	2,549		(a)	$	118	$	10,024		(a)
Net interest revenue (expense)	1,372			1,014			176				(114)		2,448
Total revenue	5,860			3,883			2,725			(a)	4		12,472			(a)
Provision for credit losses	(3)			1			—				21		19
Noninterest expense	4,723			2,147			2,802				125		9,797
Income (loss) before income taxes	$	1,140		$	1,735		$	(77)		(a)	$	(142)	$	2,656		(a)
Pre-tax operating margin (b)	19		%	45		%	(3)		%		N/M		21		%
Average assets	$	214,518		$	140,435		$	33,077			$	43,044	$	431,074

(a)    Total fee and other revenue, total revenue and income before income taxes are net of loss attributable to noncontrolling interests related to consolidated investment management funds of $13 million.

(b)    Income before income taxes divided by total revenue.

N/M – Not meaningful.

For the nine months ended Sept. 30, 2021	Securities Services			Market and Wealth Services			Investment and Wealth Management				Other		Consolidated
(dollars in millions)
Total fee and other revenue	$	4,352		$	2,707		$	2,880		(a)	$	30	$	9,969		(a)
Net interest revenue (expense)	1,059			861			142				(121)		1,941
Total revenue (loss)	5,411			3,568			3,022			(a)	(91)		11,910			(a)
Provision for credit losses	(127)			(64)			(7)				(16)		(214)
Noninterest expense	4,362			2,002			2,077				106		8,547
Income (loss) before income taxes	$	1,176		$	1,630		$	952		(a)	$	(181)	$	3,577		(a)
Pre-tax operating margin (b)	22		%	46		%	31		%		N/M		30		%
Average assets	$	228,714		$	145,562		$	30,870			$	47,960	$	453,106

(a)    Total fee and other revenue, total revenue and income before income taxes are net of income attributable to noncontrolling interests related to consolidated investment management funds of $6 million.

(b)    Income before income taxes divided by total revenue.

N/M – Not meaningful.

Note 20–Supplemental information to the Consolidated Statement of Cash Flows

Non-cash investing and financing transactions that, appropriately, are not reflected in the consolidated statement of cash flows are listed below.

Non-cash investing and financing transactions	Nine months ended Sept. 30,
(in millions)	2022		2021
Transfers from loans to other assets for other real estate owned	$	1	$	1
Change in assets of consolidated investment management funds	248		18
Change in liabilities of consolidated investment management funds	2		2
Change in nonredeemable noncontrolling interests of consolidated investment management funds	189		130
Securities purchased not settled	126		531
Securities sold not settled	—		29
Available-for-sale securities transferred to held-to-maturity securities	6,067		11,028
Premises and equipment/capitalized software funded by finance lease obligations	—		11
Premises and equipment/operating lease obligations	177		72

BNY Mellon 103

Item 4. Controls and Procedures

Disclosure controls and procedures

Our management, including the Chief Executive Officer and Chief Financial Officer, with participation by the members of the Disclosure Committee, has responsibility for ensuring that there is an adequate and effective process for establishing, maintaining, and evaluating disclosure controls and procedures that are designed to ensure that information required to be disclosed by us in our SEC reports is timely recorded, processed, summarized and reported and that information required to be disclosed by BNY Mellon is accumulated and communicated to BNY Mellon’s management to allow timely decisions regarding the required disclosure. In addition, our ethics hotline can also be used by employees and others for the anonymous communication of concerns about financial controls or reporting matters. There are inherent limitations to the effectiveness of any system of disclosure controls and procedures, including the possibility of human error and the circumvention or overriding of the controls and procedures. Accordingly, even effective disclosure controls and procedures can only provide reasonable assurance of achieving their control objectives.

As of the end of the period covered by this report, an evaluation was carried out under the supervision and with the participation of our management, including the Chief Executive Officer and Chief Financial Officer, of the effectiveness of our disclosure controls and procedures as defined in Rule 13a-15(e) under the Securities Exchange Act of 1934, as amended (the “Exchange Act”). Based on that evaluation, the Chief Executive Officer and Chief Financial Officer concluded that our disclosure controls and procedures were effective.

Changes in internal control over financial reporting

In the ordinary course of business, we may routinely modify, upgrade or enhance our internal controls and procedures for financial reporting. There have not been any changes in our internal control over financial reporting as defined in Rule 13a-15(f) of the Exchange Act during the third quarter of 2022 that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

104 BNY Mellon

Forward-looking Statements

Some statements in this Quarterly Report are forward-looking. These include statements about the usefulness of Non-GAAP measures, the future results of BNY Mellon, our businesses, financial, liquidity and capital condition, results of operations, liquidity, risk and capital management and processes, goals, strategies, outlook, objectives, expectations (including those regarding our performance results, expenses, nonperforming assets, products, impacts of currency fluctuations, impacts of money market fee waivers, deposits, impacts of trends on our businesses, regulatory, technology, market, economic or accounting developments and the impacts of such developments on our businesses, legal proceedings and other contingencies), human capital management (including related ambitions, objectives, aims and goals), effective tax rate, net interest revenue, estimates (including those regarding expenses, losses inherent in our credit portfolios and capital ratios), intentions (including those regarding our capital returns and expenses, including our investments in technology and pension expense), targets, opportunities, potential actions, growth and initiatives, including the potential effects of the coronavirus pandemic on any of the foregoing.

In this report, any other report, any press release or any written or oral statement that BNY Mellon or its executives may make, words, such as “estimate,” “forecast,” “project,” “anticipate,” “likely,” “target,” “expect,” “intend,” “continue,” “seek,” “believe,” “plan,” “goal,” “could,” “should,” “would,” “may,” “might,” “will,” “strategy,” “synergies,” “opportunities,” “trends,” “ambition,” “objective,” “aim,” “future,” “potentially,” “outlook” and words of similar meaning, may signify forward-looking statements.

Actual results may differ materially from those expressed or implied as a result of a number of factors, including the war in Ukraine, as well as those discussed in “Risk Factors” in our 2021 Annual Report, such as:

•errors or delays in our operational and transaction processing, or those of third parties, may materially adversely affect our business, financial condition, results of operations and reputation;

•our risk management framework, models and processes may not be effective in identifying or mitigating risk and reducing the potential for losses;

•our business may be adversely affected if we are unable to attract, retain and motivate employees;

•a communications or technology disruption or failure within our infrastructure or the infrastructure of third parties that results in a loss of information, delays our ability to access information or impacts our ability to provide services to our clients may materially adversely affect our business, financial condition and results of operations;

•a cybersecurity incident, or a failure in our computer systems, networks and information, or those of third parties, could result in the theft, loss, unauthorized access to, disclosure, use or alteration of information, system or network failures, or loss of access to information. Any such incident or failure could adversely impact our ability to conduct our businesses, damage our reputation and cause losses;

•we are subject to extensive government rulemaking, policies, regulation and supervision that impact our operations. Changes to and introduction of new rules and regulations have compelled, and in the future may compel, us to change how we manage our businesses, which could have a material adverse effect on our business, financial condition and results of operations;

•regulatory or enforcement actions or litigation could materially adversely affect our results of operations or harm our businesses or reputation;

•a failure or circumvention of our controls and procedures could have a material adverse effect on our business, financial condition, results of operations and reputation;

•we are dependent on fee-based business for a substantial majority of our revenue and our fee-based revenues could be adversely affected by slowing in market activity, weak financial markets, underperformance and/or negative trends in savings rates or in investment preferences;

•weakness and volatility in financial markets and the economy generally may materially adversely affect our business, financial condition and results of operations;

•changes in interest rates and yield curves have had, and may in the future continue to have, a material adverse effect on our profitability;

•we may experience losses on securities related to volatile and illiquid market conditions, reducing our earnings and impacting our financial condition;

BNY Mellon 105

Forward-looking Statements (continued)

•transitions away from and the replacement of LIBOR and other IBORs could adversely impact our business, financial condition and results of operations;

•the failure or perceived weakness of any of our significant clients or counterparties, many of whom are major financial institutions or sovereign entities, and our assumption of credit, counterparty and concentration risk, could expose us to loss and adversely affect our business;

•we could incur losses if our allowance for credit losses, including loan and lending-related commitment reserves, is inadequate or if our expectations of future economic conditions deteriorate;

•our business, financial condition and results of operations could be adversely affected if we do not effectively manage our liquidity;

•failure to satisfy regulatory standards, including “well capitalized” and “well managed” status or capital adequacy and liquidity rules more generally, could result in limitations on our activities and adversely affect our business and financial condition;

•the Parent is a non-operating holding company and, as a result, is dependent on dividends from its subsidiaries and extensions of credit from its IHC to meet its obligations, including with respect to its securities, and to provide funds for share repurchases and payment of dividends to its stockholders;

•our ability to return capital to shareholders is subject to the discretion of our Board of Directors and may be limited by U.S. banking laws and regulations, including those governing capital and capital planning, applicable provisions of Delaware law and our failure to pay full and timely dividends on our preferred stock;

•any material reduction in our credit ratings or the credit ratings of our principal bank subsidiaries, The Bank of New York Mellon or BNY Mellon, N.A., could increase the cost of funding and borrowing to us and our rated subsidiaries and have a material adverse effect on our business, financial condition and results of operations and on the value of the securities we issue;

•the application of our Title I preferred resolution strategy or resolution under the Title II orderly liquidation authority could adversely affect the Parent’s liquidity and financial condition and the Parent’s security holders;

•new lines of business, new products and services or transformational or strategic project initiatives subject us to new or additional risks, and the failure to implement these initiatives could affect our results of operations;

•we are subject to competition in all aspects of our business, which could negatively affect our ability to maintain or increase our profitability;

•our strategic transactions present risks and uncertainties and could have an adverse effect on our business, financial condition and results of operations;

•the coronavirus pandemic is adversely affecting us and creates significant risks and uncertainties for our business, and the ultimate impact of the pandemic on us will depend on future developments, which are highly uncertain and cannot be predicted;

•our businesses may be negatively affected by adverse events, publicity, government scrutiny or other reputational harm;

•climate change concerns could adversely affect our business, affect client activity levels and damage our reputation;

•impacts from natural disasters, climate change, acts of terrorism, pandemics, global conflicts and other geopolitical events may have a negative impact on our business and operations;

•tax law changes or challenges to our tax positions with respect to historical transactions may adversely affect our net income, effective tax rate and our overall results of operations and financial condition; and

•changes in accounting standards governing the preparation of our financial statements and future events could have a material impact on our reported financial condition, results of operations, cash flows and other financial data.

Investors should consider all risk factors discussed in our 2021 Annual Report and any subsequent reports filed with the SEC by BNY Mellon pursuant to the Exchange Act. All forward-looking statements speak only as of the date on which such statements are made, and BNY Mellon undertakes no obligation to update any statement to reflect events or circumstances after the date on which such forward-looking statement is made or to reflect the occurrence of unanticipated events. The contents of BNY Mellon’s website or any other website referenced herein are not part of this report.

106 BNY Mellon

Part II – Other Information

Item 1. Legal Proceedings.

The information required by this Item is set forth in the “Legal proceedings” section in Note 18 of the Notes to Consolidated Financial Statements, which portion is incorporated herein by reference in response to this item.

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds.

(c)    The following table discloses repurchases of our common stock made in the third quarter of 2022. All of the Company’s preferred stock outstanding has preference over the Company’s common stock with respect to the payment of dividends.

Issuer purchases of equity securities

Share repurchases – third quarter of 2022				Total shares repurchased as  part of a publicly announced plan or program	Maximum approximate dollar value of shares that may yet be purchased under the publicly announced plans or programs at Sept. 30, 2022
(dollars in millions, except per share amounts; common shares in thousands)	Total shares repurchased	Average price per share
July 2022	21	$	49.18	21		$	2,628
August 2022	4	44.24		4		2,628
September 2022	11	47.45		11		2,628
Third quarter of 2022 (a)	36	$	48.07	36		$	2,628	(b)

(a)    Includes 36 thousand shares repurchased at a purchase price of $1 million from employees, primarily in connection with the employees’ payment of taxes upon the vesting of restricted stock. There were no open market repurchases in the third quarter of 2022.

(b)    Represents the maximum value of the shares to be repurchased through the fourth quarter of 2022 under the share repurchase plan announced in June 2021 and includes shares repurchased in connection with employee benefit plans.

In June 2021, in connection with the Federal Reserve’s release of the 2021 CCAR stress tests, we announced a share repurchase program approved by our Board of Directors providing for the repurchase of up to $6.0 billion of common shares beginning in the third quarter of 2021 and continuing through the fourth quarter of 2022. This share repurchase plan replaced all previously authorized share repurchase plans.

Share repurchases may be executed through open market repurchases, in privately negotiated transactions or by other means, including through repurchase plans designed to comply with Rule

10b5-1 and other derivative, accelerated share repurchase and other structured transactions. The timing and exact amount of any common stock repurchases will depend on various factors, including market conditions and the common stock trading price; the Company’s capital position, liquidity and financial performance; alternative uses of capital; and legal and regulatory limitations and considerations.

Item 6. Exhibits.

The list of exhibits required to be filed as exhibits to this report appears below.

BNY Mellon 107

Index to Exhibits

Exhibit No.	Description	Method of Filing
3.1	Restated Certificate of Incorporation of The Bank of New York Mellon Corporation.	Previously filed as Exhibit 3.1 to the Company’s Current Report on Form 8-K (File No. 000-52710) as filed with the Securities and Exchange Commission (the “Commission”) on July 2, 2007, and incorporated herein by reference.
3.2	Certificate of Amendment to The Bank of New York Mellon Corporation’s Restated Certificate of Incorporation, as filed with the Secretary of State of the State of Delaware on April 9, 2019.	Previously filed as Exhibit 3.1 to the Company’s Current Report on Form 8-K (File No. 001-35651) as filed with the Commission on April 10, 2019, and incorporated herein by reference.
3.3	Certificate of Designations of The Bank of New York Mellon Corporation with respect to the Series A Noncumulative Preferred Stock, dated June 15, 2007.	Previously filed as Exhibit 4.1 to the Company’s Current Report on Form 8-K (File No. 000-52710) as filed with the Commission on July 5, 2007, and incorporated herein by reference.
3.4	Certificate of Designations of The Bank of New York Mellon Corporation with respect to the Series D Noncumulative Perpetual Preferred Stock, dated May 16, 2013.	Previously filed as Exhibit 3.1 to the Company’s Current Report on Form 8-K (File No. 001-35651) as filed with the Commission on May 16, 2013, and incorporated herein by reference.
3.5	Certificate of Designations of The Bank of New York Mellon Corporation with respect to the Series F Noncumulative Perpetual Preferred Stock, dated July 29, 2016.	Previously filed as Exhibit 3.1 to the Company’s Current Report on Form 8-K (File No. 001-35651) as filed with the Commission on Aug. 1, 2016, and incorporated herein by reference.
3.6	Certificate of Designations of The Bank of New York Mellon Corporation with respect to the Series G Noncumulative Perpetual Preferred Stock, dated May 15, 2020.	Previously filed as Exhibit 3.1 to the Company’s Current Report on Form 8-K (File No. 001-35651) as filed with the Commission on May 19, 2020, and incorporated herein by reference.
3.7	Certificate of Designations of The Bank of New York Mellon Corporation with respect to the Series H Noncumulative Perpetual Preferred Stock, dated Nov. 2, 2020.	Previously filed as Exhibit 3.1 to the Company’s Current Report on Form 8-K (File No. 001-35651) as filed with the Commission on Nov. 3, 2020, and incorporated herein by reference.
3.8	Certificate of Designations of The Bank of New York Mellon Corporation with respect to the Series I Noncumulative Perpetual Preferred Stock, dated Nov. 16, 2021.	Previously filed as Exhibit 3.1 to the Company’s Current Report on Form 8-K (File No. 001-35651) as filed with the Commission on Nov. 18, 2021, and incorporated herein by reference.
3.9	Amended and Restated By-Laws of The Bank of New York Mellon Corporation, as amended and restated on Feb. 12, 2018.	Previously filed as Exhibit 3.1 to the Company’s Current Report on Form 8-K (File No. 001-35651) as filed with the Commission on Feb. 13, 2018, and incorporated herein by reference.

108 BNY Mellon

Index to Exhibits (continued)

Exhibit No.	Description	Method of Filing
4.1	None of the instruments defining the rights of holders of long-term debt of the Parent or any of its subsidiaries represented long-term debt in excess of 10% of the total assets of the Company as of Sept. 30, 2022. The Company hereby agrees to furnish to the Commission, upon request, a copy of any such instrument.	N/A
10.1	2022 Form of Restricted Stock Unit Agreement.	Filed herewith.
10.2	2022 Form of Performance Share Unit Agreement.	Filed herewith.
22.1	Subsidiary Issuer of Guaranteed Securities.	Previously filed as Exhibit 22.1 to the Company’s Quarterly Report on Form 10-Q (File No. 001-35651) for the quarter ended March 31, 2021, and incorporated herein by reference.
31.1	Certification of the Chief Executive Officer pursuant to Rule 13a-14(a), as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.	Filed herewith.
31.2	Certification of the Chief Financial Officer pursuant to Rule 13a-14(a), as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.	Filed herewith.
32.1	Certification of the Chief Executive Officer pursuant to 18 U.S.C. §1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.	Furnished herewith.
32.2	Certification of the Chief Financial Officer pursuant to 18 U.S.C. §1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.	Furnished herewith.
101.INS	Inline XBRL Instance Document.	The instance document does not appear in the interactive data file because its XBRL tags are embedded within the inline XBRL document.
101.SCH	Inline XBRL Taxonomy Extension Schema Document.	Filed herewith.
101.CAL	Inline XBRL Taxonomy Extension Calculation Linkbase Document.	Filed herewith.
101.DEF	Inline XBRL Taxonomy Extension Definition Linkbase Document.	Filed herewith.
101.LAB	Inline XBRL Taxonomy Extension Label Linkbase Document.	Filed herewith.
101.PRE	Inline XBRL Taxonomy Extension Presentation Linkbase Document.	Filed herewith.
104	The cover page of The Bank of New York Mellon Corporation’s Quarterly Report on Form 10-Q for the quarter ended Sept. 30, 2022, formatted in inline XBRL.	The cover page interactive data file is embedded within the inline XBRL document and included in Exhibit 101.

BNY Mellon 109

SIGNATURE

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: November 7, 2022	By:	/s/ Kurtis R. Kurimsky
		Kurtis R. Kurimsky
		Corporate Controller
		(Duly Authorized Officer and
		Principal Accounting Officer of
		the Registrant)

110 BNY Mellon

EX-10.1

Exhibit 10.1

FORM OF RESTRICTED STOCK UNIT AGREEMENT

THE BANK OF NEW YORK MELLON CORPORATION

LONG-TERM INCENTIVE PLAN

FORM OF NOTICE OF AWARD - RESTRICTED STOCK UNITS – EXECUTIVE COMMITTEE GENERAL

Subject to the terms and conditions of The Bank of New York Mellon Corporation 2019 Long-Term Incentive Plan (the “Plan”), this Notice of Award - Restricted Stock Units – Executive Committee General (the “Award Notice”), and the Terms and Conditions of Restricted Stock Units – Executive Committee General (the “Terms and Conditions”), The Bank of New York Mellon Corporation (the “Corporation”) grants you restricted stock units (“RSUs”) as reflected below and on the Corporation’s equity award website (the “Equity Website”). Each RSU represents the opportunity to receive one (1) share of the Corporation’s common stock, par value $.01 (“Common Stock”), upon satisfaction of the terms and conditions as set forth in the Award Notice and the Terms and Conditions (collectively, the “Award Agreement”), subject to the terms of the Plan.

Participant	[PARTICIPANT NAME]
Grant Date	[GRANT DATE]
Number of RSUs	[NUMBER OF SHARES GRANTED]
Vesting Schedule – Please refer to Appendix A Vesting Date may be delayed if and to the extent the Risk Adjustment Process set forth in Exhibit A is not completed by such date subject to Section 4.1 of the Terms and Conditions.
Risk Adjustment Process - Unvested RSUs (and accrued dividends) are subject to forfeiture based upon the Risk Adjustment Process set forth in Exhibit A.

THE CORPORATION’S GRANT OF RSUs AS REFLECTED HEREIN IS CONTINGENT UPON YOUR ACKNOWLEDGEMENT AND ACCEPTANCE OF THE AWARD AGREEMENT AND THE PLAN ELECTRONICALLY ON THE EQUITY WEBSITE ON OR BEFORE [GRANT ACCEPT BY DATE] (THE “ACCEPTANCE DEADLINE”). IF YOU FAIL TO DO SO, THE CORPORATION’S GRANT OF RSUs AS REFLECTED HEREIN SHALL BE NULL AND VOID, AND SHALL NOT BE RE-INSTATED.

BY ELECTRONICALLY ACKNOWLEDGING AND ACCEPTING THE CORPORATION’S GRANT OF RSUS, YOU AFFIRMATIVELY AND EXPRESSLY AGREE:

(1)    SUCH ACKNOWLEDGEMENT AND ACCEPTANCE CONSTITUTES YOUR ELECTRONIC SIGNATURE IN EXECUTION OF THE AWARD AGREEMENT

(2)    TO BE BOUND BY THE PROVISIONS OF THE AWARD AGREEMENT AND THE PLAN INCLUDING WITHOUT LIMITATION ANY LOCATION SPECIFIC SPECIAL TERMS AND CONDITIONS SET FORTH IN THE ADDENDUM, AS DEFINED IN THE TERMS AND CONDITIONS

(3)    YOU (A) HAVE REVIEWED THE AWARD AGREEMENT AND THE PLAN IN THEIR ENTIRETY; (B) WERE GIVEN A REASONABLE TIME TO COMPLETE SUCH REVIEW; (C) HAVE BEEN ADVISED BY THE CORPORATION TO CONSULT WITH YOUR OWN ATTORNEY BEFORE ENTERING INTO THE AWARD AGREEMENT; (D) HAVE HAD AN OPPORTUNITY TO OBTAIN PROFESSIONAL LEGAL/TAX/INVESTMENT ADVICE PRIOR TO ACCEPTING THE RSUs; AND (E) FULLY UNDERSTAND ALL OF THE PROVISIONS OF THE AWARD AGREEMENT AND THE PLAN

(4)    YOU HAVE BEEN PROVIDED WITH A COPY OR ELECTRONIC ACCESS TO A COPY OF THE PLAN AND THE U.S. PROSPECTUS FOR THE PLAN

(5)    TO ACCEPT AS BINDING, CONCLUSIVE AND FINAL ALL DECISIONS OR INTERPRETATIONS OF THE CORPORATION UPON ANY QUESTIONS ARISING UNDER THE AWARD AGREEMENT AND THE PLAN

PARTICIPANT ACCEPTANCE DATE: [ACCEPTANCE DATE]

********************************

2

EXHIBIT A

Risk Adjustment/Forfeiture Decision Process

For any performance year in which you remain a covered employee, your risk performance will be assessed via a Risk Culture Summary Scorecard (“RCSS”) Score or a Performance Management Platform (“PMP”) Risk Goal Rating. If, in any year, you receive an RCSS Score of 4 or worse, or a PMP Risk Goal Rating of “Partially Met Expectations” or “Did Not Meet Expectations,” your unvested RSUs (including any accrued dividend equivalents) will be subject to review by the Incentive Compensation Review Committee (“ICRC”) for consideration of forfeiture. If you are no longer a covered employee or have left the Corporation, any unvested portion of the RSUs (including any accrued dividend equivalents) will also be subject to a risk review by the ICRC. The ICRC is generally comprised of senior managers and senior control managers.

In that event, as part of its review, ICRC will ask –

•Did your score/rating reflect poor risk behavior by you in a prior year?

•Did you receive an award in that year?

If the answer to both questions is yes, ICRC asks the following questions with respect to each of the designated prior years:

•Financial Impact: How much did/will the issue cost the Company?

•Reputational Impact: How much of a regulatory impact did/will it have on the Company?

ICRC selects the impact answer that falls into the highest category below to determine the impact forfeiture percentage.

Criteria	Metric	None	Low	Medium	High
Financial Impact
Reputational Impact

As used in this Exhibit A, the term “Company” shall mean the Corporation and its Affiliates.

Then the ICRC asks how much, if any, control/responsibility you had regarding the situation. The answer to the last question determines the modifier to be applied to the impact forfeiture percentage.

Criteria	None	Indirect	Direct
Your role & responsibility

Example [Insert Example]:

The ICRC will submit its recommendations to the Human Resources and Compensation Committee of the Corporation’s Board of Directors for final action and approval.

3

THE BANK OF NEW YORK MELLON CORPORATION

FORM OF TERMS AND CONDITIONS

OF RESTRICTED STOCK UNITS – EXECUTIVE COMMITTEE GENERAL

The Restricted Stock Units (“RSUs”) with respect to Common Stock of The Bank of New York Mellon Corporation (the “Corporation”) granted to you on the Grant Date are subject to the Notice of Award - Restricted Stock Units – Executive Committee General (the “Award Notice”), these Terms and Conditions of Restricted Stock Units – Executive Committee General (the “Terms and Conditions”) and all of the terms and conditions of The Bank of New York Mellon Corporation 2019 Long-Term Incentive Plan (the “Plan”), which is incorporated herein by reference. In the case of a conflict between the Award Notice, these Terms and Conditions and the terms of the Plan, the provisions of the Plan shall govern. Capitalized terms used but not defined herein shall have the same meaning as provided or reflected in the Award Notice or the Plan, as applicable. For purposes of these Terms and Conditions, “Employer” means the Corporation or any Affiliate that employs or employed you on the applicable date.

SECTION 1: Restricted Stock Unit Award

    1.1    Grant of Award. Subject to these Terms and Conditions and the terms of the Plan, the Corporation grants you the number of RSUs as reflected in the Award Notice. The RSUs shall vest in accordance with the Vesting Schedule and shall be subject to the Risk Adjustment Process as reflected in the Award Notice.

    1.2    Dividend Equivalents. Upon the payment of any dividend on the Common Stock occurring during the period preceding the settlement of your RSUs pursuant to these Terms and Conditions, your Employer will accrue an amount in cash equal to the value of the dividends you otherwise would have received had you actually been the shareholder of record of the number of shares of Common Stock underlying your RSUs, which dividend equivalents will be subject to the Risk Adjustment Process as reflected in the Award Notice. Your Employer will pay you such dividend equivalents in cash without interest pursuant to Section 4 of these Terms and Conditions if and to the extent that the underlying RSUs become vested as provided in the Award Agreement.

    1.3    No Voting Rights. Prior to the settlement of your RSUs pursuant to these Terms and Conditions, you shall not be entitled to vote the shares of Common Stock underlying the RSUs.

    1.4    Nontransferable. The RSUs shall be transferable only by will or the laws of descent and distribution. If you purport to make any transfer of the RSUs, except as described herein, the RSUs and all rights thereunder immediately shall terminate and be forfeited.

SECTION 2: Vesting, Forfeiture, Termination of Employment and Disability

    2.1    Vesting and Forfeiture.

    (a)    Vesting. Subject to Sections 3 and 5.4 of these Terms and Conditions, if you remain continuously employed with your Employer through the close of business on the applicable Vesting Date reflected in the Award Notice, the number of RSUs corresponding to such Vesting Date will vest and the Corporation will issue you the underlying shares of Common Stock in accordance with Section 4 of these Terms and Conditions. Notwithstanding anything to the contrary contained in the Award Agreement and in accordance with Section 4.1, a vesting may be delayed if, on the Vesting Date, you are the subject of ongoing disciplinary or performance management investigations or proceedings concerning the circumstances under which forfeiture or clawback of this award could apply.  In such cases, the applicable portion of the award, if any, will vest following the completion of such investigations and proceedings to the extent the Corporation determines that forfeiture and/or clawback does not apply.

    (b)    Forfeiture upon Termination of Employment. Subject to Sections 2.2 and 2.3 of these Terms and Conditions, if you cease to be continuously employed with your Employer prior to the date that your RSUs become fully vested, you shall cease vesting in your RSUs as of your Termination Date and any unvested RSUs, including any dividend equivalent rights, immediately shall terminate and be forfeited, except in situations where vesting would have occurred but for the fact that a determination has

not yet been made as to whether a risk adjustment pursuant to Exhibit A is required, in which case vesting shall occur in accordance with the terms of the Award Agreement provided that the Committee determines the effect, if any of a risk adjustment. As used herein, “Termination Date” shall mean the last day on which you are an employee of your Employer.

(c)    Forfeiture upon Termination of Employment for Cause. Notwithstanding anything to the contrary contained in these Terms and Conditions, if your Employer terminates your employment for Cause, your RSUs, whether vested (but unsettled) or unvested, and including any dividend equivalent rights, immediately shall terminate and be forfeited. For purposes of these Terms and Conditions, “Cause” shall mean:

(i)    you have been convicted of, or have entered into a pretrial diversion or entered a plea of guilty or nolo contendere (plea of no contest) to a crime or offense constituting a felony (or its equivalent under applicable laws outside of the United States), or to any other crime or offense involving moral turpitude, dishonesty, fraud, breach of trust, money laundering, or any other offense that may preclude you from being employed with a financial institution;

(ii)    you are grossly negligent in the performance of your duties or have failed to perform the duties of your employment, including, without limitation, failure to comply with any lawful directive from your Employer or the Corporation, other than by reason of incapacity due to disability or from any permitted leave of absence required by law;

(iii)    you have violated the Corporation’s Code of Conduct or any of the policies of the Corporation or your Employer governing the conduct of business or your employment, including without limitation, those relating to discrimination and retaliation;

(iv)    you have engaged in any misconduct which has the effect or potential of being injurious to the Corporation, any Affiliate or your Employer, including, but not limited to, its reputation;

(v)    you have engaged in an act of fraud or dishonesty, including, but not limited to, taking or failing to take actions intending to result in personal gain; or

(vi)    if you are employed outside the United States, any other circumstances (beyond those listed above) that permit the immediate termination of your employment without notice or payment in accordance with the terms of your employment agreement or Applicable Laws (as defined in Section 5.2).

The determination of whether your actions will be considered Cause for purposes of these Terms and Conditions will be determined by the Corporation or any of its Affiliates, at its or their sole discretion, as applicable. Any determinations of Cause will be considered conclusive and binding on you.

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    2.2    Specified Terminations of Employment.

    (a)    Death. If you cease to be continuously employed with your Employer by reason of your death prior to the date that your RSUs become fully vested (or if your death occurs following termination of employment during a period in which you have outstanding RSUs), your estate will become fully vested in your RSUs, including any dividend equivalent rights, as of your date of death and the Corporation will issue your legal representative or your estate the underlying shares of Common Stock in accordance with Section 4.

[(b)    Specified Age & Years of Service Rule. If you cease to be continuously employed with your Employer (i) on or after your attainment of age 60 and (ii) the combination of your age and years of credited employment with your Employer (in both instances, full and partial years) on your Termination Date equals or exceeds 65 (satisfaction of (i) and (ii) being a “Retirement-Eligible Event”), you will continue to vest in your RSUs, including any dividend equivalent rights, in accordance with the Vesting Schedule set forth in the Award Notice so long as you fully comply with the applicable covenants provided in Section 3 hereof and provided that, if requested by your Employer (to the extent not prohibited by Applicable Laws), you execute and do not revoke a Transition/Separation Agreement and Release acceptable to your Employer. As a condition for continued vesting of your RSUs, including any dividend equivalent rights, following a Retirement-Eligible Event, your Employer may require you to periodically certify your compliance with the covenants set forth in Section 3 of these Terms and Conditions as more fully described in such Section. For purposes of the foregoing, partial years shall be determined based upon the number of days since your prior birthday or the number of days of credited employment since your prior employment anniversary, as the case may be. Notwithstanding the foregoing, in the case of continued vesting following a Retirement-Eligible Event, if you commence employment with a new employer that grants you a new award that replaces all or any portion of this award, any portion of this award that has been replaced by your new employer will be forfeited and will no longer vest and, where relevant, will be promptly repaid by you if the award or any portion of this award has already vested.]

(c)    Termination Providing Transition/Separation Pay. Provided that you execute and do not revoke a Transition/Separation Agreement and Release acceptable to your Employer, if you cease to be continuously employed with your Employer by reason of a termination by your Employer and in connection with such termination you receive transition/separation pay from the Corporation or your Employer, you will continue to vest in your RSUs, including any dividend equivalent rights, in accordance with the Vesting Schedule set forth in the Award Notice so long as you fully comply with the applicable covenants provided in Section 3 hereof. For purposes of the foregoing, “transition/separation pay” means any severance, redundancy or ex-gratia compensation payment to you from the Corporation or your Employer in connection with your termination of employment that is in excess of the amount payable to you on account of any notice period to which you are entitled pursuant to the terms of your contract of employment or otherwise (or payment in lieu of such notice).

    (d)    Sale of Business. If you cease to be continuously employed with your Employer due to a sale of a business unit or your Employer and you are not otherwise entitled to transition/separation pay, you will continue to vest in your RSUs, including any dividend equivalent rights, in accordance with the Vesting Schedule set forth in the Award Notice so long as you fully comply with the applicable covenants provided in Section 3 hereof.

    (e)    Change in Control. If your employment is terminated by your Employer without Cause within two (2) years after a Change in Control occurring after the Grant Date, you will continue to vest in your RSUs, including any dividend equivalent rights, in accordance with the Vesting Schedule set forth in the Award Notice so long as you fully comply with the applicable covenants provided in Section 3 hereof.

(f)    Termination of Employment Prior to the Grant Date. If your Termination Date (as defined in Section 2.1(b) above) occurred prior to the Grant Date for this award, you agree that any references to you as an “employee” and “employment” in the Award Agreement means the period of time during which you were still an employee of the Corporation or any of its Affiliates.

[(g)    Additional Vesting Provisions, if any.]

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2.3    Disability. If you receive current benefits under a long-term disability plan maintained by the Corporation or your Employer while any portion of your RSUs remains unvested, you will continue to vest in your RSUs during the period you are eligible to receive such benefits, including any dividend equivalent rights, in accordance with the Vesting Schedule set forth in the Award Notice so long as you fully comply with the applicable covenants provided in Section 3 hereof.

SECTION 3: Notice of Resignation, Non-Solicitation, Non-Competition, Confidential Information, Non-Disparagement and Cooperation

3.1    Notice of Resignation. As consideration for this award, you will provide your Employer with 90 days’ advance written notice of any voluntary termination of your employment with your Employer.

3.2    Non-Solicitation of Clients, Contractors and Employees; Non-Competition.

To protect the Corporation’s and its Affiliates’ legitimate business interests, including its confidential information and goodwill, and for the good and valuable consideration offered pursuant to the Award Agreement, which is in excess of any consideration you are otherwise entitled to receive, and to the maximum extent permitted by Applicable Laws, you agree as follows:

(a)    Non-Solicitation of Clients, Contractors and Employees. Your RSUs, whether vested (but unsettled) or unvested, and including any dividend equivalent rights, shall be immediately forfeited if, prior to one (1) year from the Termination Date or, if later, the final vesting date set forth in the Award Notice (the “Restricted Period”), you directly or indirectly (i) solicit or induce or attempt to solicit or induce any current or prospective client of the Corporation or an Affiliate known to you, to initiate or continue a client relationship with you other than with the Corporation or Affiliate or to terminate or reduce its client relationship with the Corporation or Affiliate, or (ii) hire or employ any employee or contractor of the Corporation or an Affiliate, or recruit, solicit or induce such an individual to terminate or reduce their employment or engagement, whichever is applicable, with the Corporation or Affiliate. During the Restricted Period, you further agree to (i) advise any person or entity that seeks to employ you of the terms of these covenants; and (ii) immediately notify Human Resources equity administration if you are not in compliance with your obligations above.

(b)    Non-Competition.  Your RSUs, whether vested (but unsettled) or unvested, and including any dividend equivalent rights, shall be immediately forfeited if, after your separation from employment with the Corporation or its Affiliates by reason of your (i) Retirement-Eligible Event or (ii) termination providing transition/separation pay as specified in Sections 2.2(b) and 2.2(c) respectively, and before the end of the Restricted Period, you directly or indirectly (without the prior written consent of the Corporation), (i) associate (including as a director, officer, employee, partner, consultant, agent or advisor) with a Competitive Enterprise, or (ii) transact business on behalf of a Competitive Enterprise. For purposes of the Award Agreement, “Competitive Enterprise” means any business enterprise that either (A) is a member of the Corporation’s competitive peer group as disclosed in the Corporation’s proxy statement that was most recently filed with the Securities and Exchange Commission preceding the Termination Date; or (B) is any other business enterprise for whom you would be performing services similar to those performed at the Corporation or any Affiliate within the twelve (12) months preceding the Termination Date.

For the sake of clarity, the foregoing non-compete restriction does not prohibit you from being employed by the government or a not-for profit organization (i.e. an organization exempt from local and national tax laws). In view of the limited scope of the non-compete obligation assumed under this Section, which does not prevent you from working in other entities that are not affected by it, you acknowledge and agree that:(i) the foregoing non-compete obligation is reasonable and necessary to protect the Corporation’s and its Affiliates’ legitimate business interests including its confidential information and goodwill, and (ii) the continued vesting in your RSUs, including any dividend equivalent rights, following a Retirement-Eligible Event or termination providing transition/separation pay is fair and reasonable consideration for the foregoing non-compete obligation. During the Restricted Period, you further agree to (i) advise any person or entity that seeks to employ you of the terms of these covenants; and (ii) immediately notify Human Resources equity administration if you are not in compliance with your obligations above.

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3.3    Confidential Information.

(a)Except as may be permitted in accordance with Section 3.6 below, during the course of your employment with the Corporation or any Affiliate and continuing thereafter, you will not, either directly or indirectly, at any time, while an employee of the Corporation or any Affiliate or thereafter, make known, divulge, reveal, furnish, make available, or use (except for use in the regular course of your duties for the Corporation or its Affiliates) any Confidential Information (as defined below) without the written consent of the Corporation. You also agree that this obligation is in addition to, and not in limitation or preemption of, all other obligations of confidentiality that you may have to the Corporation or its Affiliates under the Code of Conduct, Securities Trading Policy or other rules or policies governing the conduct of their respective businesses, or general or specific legal or equitable principles.

(b)As used herein, “Confidential Information” means the information you have been given or to which you have access or become informed of which the Corporation or its Affiliates possess or have access and which relates to the Corporation or its Affiliates, is not generally known to the public or in the trade or is a competitive asset and/or otherwise constitutes a “trade secret,” as that term is defined by Applicable Laws, of the Corporation or its Affiliates, including without limitation, non- public: (i) planning data and marketing strategies; (ii) terms of any new products and investment strategies; (iii) information relating to other officers and employees of the Corporation or its Affiliates; (iv) financial results and information about the business condition of the Corporation or its Affiliates; (v) terms of any investment, management or advisory agreement or other material contract; (vi) proprietary software and related documents; (vii) customer and potential customer information (for example, client lists, prospecting lists, information about client accounts, pricing strategies, and current or proposed transactions and contact persons at such customers and customer prospects); and (viii) material information or internal analyses concerning customers or customer prospects of the Corporation or its Affiliates or their respective operations, condition (financial or otherwise) or plans.

3.4    Non-Disparagement. Subject to Section 3.6 below, during the course of your employment with the Corporation or any Affiliate and continuing thereafter, you will not, directly or indirectly make, issue, authorize or publish any comments or statements (orally or in writing) to the media, including without limitation traditional vehicles and social media, to any individual or entity with whom or which the Corporation, or any of its Affiliates, has a business relationship, or to any other individual or entity, which disparages, criticizes or otherwise reflects adversely upon the Corporation, any of its Affiliates or any of their respective employees, officers or directors.

3.5    Cooperation. Upon the termination of your employment for any reason or no reason, including but not limited to resignation of employment, you will fully cooperate with the Corporation and its Affiliates upon reasonable notice and at reasonable times, in the prosecution and defense of complaints, investigations, litigation, arbitration and mediation of any complaints, claims or actions now in existence or that may be threatened or brought in the future relating to events or occurrences that transpired while employed by the Corporation or any Affiliate.

3.6    Governmental Authorities. Nothing in the Award Agreement prohibits or interferes with your right to disclose any relevant and necessary information in any action or proceeding relating to the Award Agreement or as otherwise required by law or legal process. In addition, nothing in the Award Agreement prohibits or interferes with your or your attorney’s right: (a) to initiate communications directly with or report or disclose possible violations of law or regulation to, any governmental agency or entity, legislative body, or any self-regulatory organization, including but not limited to the U.S. Department of Justice (“DOJ”), the U.S. Securities and Exchange Commission (“SEC”), the U.S. Financial Industry Regulatory Authority (“FINRA”), the U.S. Equal Employment Opportunity Commission (“EEOC”), or U.S. Congress, and such reports or disclosures do not require prior notice to, or authorization from, the Corporation; (b) to participate, cooperate, or testify in any action, investigation or proceeding with, provide information to, or respond to any inquiry from any governmental agency or legislative body, any self-regulatory organization, including but not limited to the IRS, SEC, FINRA, the EEOC, DOJ, U.S. Congress (“Governmental Authorities”), or the Corporation’s Legal or Compliance Departments and such communications do not require prior notice to, or authorization from the Corporation. However, with respect to such communications, reports, participation, cooperation or testimony to the Governmental Authorities, as set forth above in clauses (a) and (b) of this Section, you may not disclose privileged communications with the Corporation’s counsel. To the extent permitted by

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law, upon receipt of a subpoena, court order or other legal process compelling the disclosure of any information, you will give prompt written notice to the Corporation so as to provide the Corporation ample opportunity to protect its interests in confidentiality to the fullest extent possible unless the subpoena, court order or other legal process pertains to an action described above in clauses (a) or (b) of this Section, in which event no such notice is required. Notwithstanding any confidentiality and non-disclosure obligations you may have, you are hereby advised as follows pursuant to the U.S. Federal Defend Trade Secrets Act of 2016: “An individual shall not be held criminally or civilly liable under any Federal or State trade secret law for the disclosure of a trade secret that (A) is made (i) in confidence to a Federal, State, or local government official, either directly or indirectly, or to an attorney; and (ii) solely for the purpose of reporting or investigating a suspected violation of law; or (B) is made in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal. An individual who files a lawsuit for retaliation by an employer for reporting a suspected violation of law may disclose the trade secret to the attorney of the individual and use the trade secret information in the court proceeding, if the individual (A) files any document containing the trade secret under seal; and (B) does not disclose the trade secret, except pursuant to court order.”

[3.7    Periodic Certification of Compliance. In connection with your separation from employment with the Corporation or its Affiliates by reason of your Retirement-Eligible Event , upon request by your Employer, you agree to periodically certify your compliance with the covenants set forth in this Section 3 through the end of the Restricted Period. If you fail to provide any such certification(s) as requested by your Employer, the RSUs whether vested (but unsettled) or unvested, and including any dividend equivalent rights, shall be immediately forfeited.]

3.8    Existing Obligations. The terms of the Award Agreement shall not in any way (a) limit your obligations pursuant to any other agreements with the Corporation or any of its Affiliates or other corporate plans or policies applicable to you; or (b) limit the Corporation’s or your Employer’s rights to exercise any remedies it may have under Applicable Laws or under the terms of such other agreements, plans or policies.

3.9    Failure to Comply with Covenants. If you fail to comply with any of the foregoing applicable covenants, the RSUs, whether vested (but unsettled) or unvested, and including any dividend equivalent rights, shall be immediately forfeited and may be subject to repayment as provided in Section 5.4 of these Terms and Conditions.

SECTION 4: Settlement

    4.1    Time of Settlement. Vested RSUs shall be settled as soon as administratively practicable following each Vesting Date as reflected in the Award Notice and in all events no later than two and one-half (2 ½) months following the end of the calendar year in which the RSUs vest; provided, if you are a “specified employee” under Section 409A of the U.S. Internal Revenue Code of 1986, as amended (the “Code”), upon separation from service and if such settlement is deferred compensation conditioned upon a separation from service and not compensation you could receive without separating from service, then settlement shall not be made until the first day following the six (6) month anniversary of your separation from service (or upon your death, if earlier).

    4.2    Form of Settlement. Vested RSUs shall be settled in the form of Common Stock delivered in book-entry form. Notwithstanding the foregoing, the Corporation may, in its sole discretion, settle any vested RSUs in the form of a cash payment to the extent settlement of the RSUs in shares of Common Stock is prohibited under local law or would require you, your Employer, the Corporation or any Affiliate to obtain the approval of any governmental and/or regulatory body in your country of residence (or country of employment, if different). Alternatively, the Corporation may, in its sole discretion, settle the vested RSUs in the form of Common Stock but require an immediate sale of such shares of Common Stock (in which case, these Terms and Conditions shall give the Corporation the authority to issue sales instructions on your behalf). Accrued dividend equivalents corresponding to vested RSUs, if any, shall be settled in the form of cash, payable without interest, on the next administratively practicable pay date following vesting of such RSUs.

SECTION 5: Other Terms and Conditions

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    5.1    No Right to Employment. Neither the award of RSUs nor anything else contained in these Terms and Conditions nor the Plan shall be deemed to limit or restrict the right of your Employer to terminate your employment at any time, for any reason, with or without Cause.

    5.2    Compliance with Laws. Notwithstanding any other provision of these Terms and Conditions, you agree to take any action, and consent to the taking of any action by the Corporation and your Employer with respect to the RSUs awarded hereunder necessary to achieve compliance with applicable laws, regulations or relevant regulatory requirements or interpretations in effect from time to time (“Applicable Laws”). Any determination by the Corporation in this regard shall be final, binding and conclusive. The Corporation shall in no event be obligated to register any securities pursuant to the U.S. Securities Act of 1933 (as the same shall be in effect from time to time) or other applicable foreign securities laws, or to take any other affirmative action in order to cause the delivery of shares in book-entry form or otherwise therefore to comply with any Applicable Laws. For the avoidance of doubt, you understand and agree that if any payment or other obligation under or arising from these Terms and Conditions, including without limitation dividend equivalent rights, or the Plan is in conflict with or is restricted by any Applicable Laws, the Corporation may reduce, revoke, cancel, clawback or impose different terms and conditions to the extent it deems necessary or appropriate, in its sole discretion, to effect such compliance. If the Corporation determines that it is necessary or appropriate for any payments under these Terms and Conditions to be delayed in order to avoid additional tax, interest and or penalties under Section 409A of the Code, then the payments would not be made before the date which is the first day following the six (6) month anniversary of the date of your termination of employment (or upon earlier death).

5.3    Tax Withholding. Regardless of any action the Corporation or your Employer take with respect to any or all income tax (including U.S. federal, state and local taxes or non-U.S. taxes), social insurance, payroll tax, payment on account or other tax-related withholding (“Tax-Related Items”), you acknowledge that the ultimate liability for all Tax-Related Items legally due by you is and remains your responsibility and that the Corporation and your Employer (a) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of the RSUs, including the grant of the RSUs, the vesting of the RSUs, the subsequent sale of any shares of Common Stock acquired pursuant to the RSUs and the receipt of any dividends or dividend equivalents, and (b) do not commit to structure the terms of the grant or any aspect of the RSUs to reduce or eliminate your liability for Tax-Related Items. Further, if you are or become subject to taxation in more than one country, you acknowledge that the Corporation and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one country.

Prior to the delivery of shares of Common Stock upon the vesting of your RSUs, if your country of residence (and/or the country of employment, if different) requires withholding of Tax-Related Items, the Corporation shall be authorized to withhold a sufficient number of whole shares of Common Stock otherwise issuable upon the vesting of the RSUs that have an aggregate Fair Market Value sufficient to pay the Tax-Related Items required to be withheld with respect to the shares of Common Stock. The cash equivalent of the shares of Common Stock withheld will be used to settle the obligation to withhold the Tax-Related Items. In the event that withholding in shares of Common Stock is prohibited or problematic under Applicable Laws or otherwise may trigger adverse consequences to the Corporation or your Employer, your Employer is authorized to withhold theTax-Related Items required to be withheld with respect to the shares of Common Stock in cash from your regular salary and/or wages or any other amounts payable to you. In the event the withholding requirements are not satisfied through the withholding of shares of Common Stock by the Corporation or through your regular salary and/or wages or other amounts payable to you by your Employer, no shares of Common Stock will be issued to you (or your estate) upon vesting of the RSUs unless and until satisfactory arrangements have been made by you with respect to the payment of any Tax-Related Items that the Corporation or your Employer determines, in its sole discretion, must be withheld or collected with respect to such RSUs. By accepting this grant of RSUs, you expressly consent to the withholding of shares of Common Stock and/or withholding from your regular salary and/or wages or other amounts payable to you as provided for hereunder. All other Tax-Related Items related to the RSUs and any shares of Common Stock delivered in payment thereof are your sole responsibility.

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Depending on the withholding method, the Corporation or your Employer may withhold or account for Tax-Related Items by considering applicable statutory or other withholding rates, including minimum or maximum rates applicable in your jurisdiction(s). In the event of over-withholding, you may receive a refund of any over-withheld amount in cash (with no entitlement to the equivalent in Common Stock). In the event of under-withholding, you may be required to pay any additional Tax-Related Items directly to the applicable tax authority or to the Corporation and/or your Employer. If the obligation for Tax-Related Items is satisfied by withholding in shares of Common Stock, you shall be deemed to have been issued the full number of shares of Common Stock subject to the vested RSUs, notwithstanding that a number of the shares of Common Stock are held back solely for the purpose of paying the Tax-Related Items.

    [5.4    Forfeiture and Repayment. If, directly or indirectly:

    (a)    during the course of your employment with your Employer, you violate any obligations set forth in the Award Agreement (including without limitation those obligations set forth in Section 3 of these Terms and Conditions) or engage in conduct or it is discovered that you engaged in conduct that is adverse to the interests of the Corporation or its Affiliates, including failures to comply with the Corporation’s or any of its Affiliate’s rules or regulations, fraud, or conduct contributing to any financial restatements or irregularities;

(b)    during the course of your employment with your Employer and, unless you have post-termination obligations or duties owed to the Corporation or its Affiliates pursuant to an individual agreement set forth in subsection (d) below, for one (1) year thereafter, you engage (other than for the benefit of the Corporation or its Affiliates) in solicitation and/or diversion of customers or employees;

(c)    during the course of your employment with your Employer, you engage in competition with the Corporation or its Affiliates;

(d)    following termination of your employment with your Employer for any reason, with or without Cause, you violate any post-termination obligations or duties owed to the Corporation or its Affiliates under any agreement with the Corporation or its Affiliates, including without limitation, any employment, confidentiality, non-solicitation, non-competition or other agreement restricting post-employment conduct (including without limitation those obligations set forth in Section 3 of these Terms and Conditions); or

(e)    any compensation that the Corporation or its Affiliates has promised or paid to you is required to be forfeited and/or repaid to the Corporation or its Affiliates pursuant to applicable regulatory requirements;

then the Corporation may cancel all or any portion of the RSUs and/or require repayment of any shares of Common Stock (or the value thereof) or other amounts which were acquired pursuant to the RSUs (including without limitation any dividends paid on the shares of Common Stock and dividend equivalents). The Corporation shall have sole discretion to determine what constitutes grounds for forfeiture and/or repayment under this Section 5.4, and, in such event, the portion of the RSUs that shall be cancelled and the sums or amounts that shall be repaid. For purposes of the foregoing, you expressly and explicitly authorize the Corporation to issue instructions, on your behalf, to any brokerage firm and/or third party administrator engaged by the Corporation to hold the shares of Common Stock and other amounts acquired pursuant to the RSUs to re-convey, transfer or otherwise return such shares and/or other amounts to the Corporation.]

    5.5    Governing Law and Choice of Forum. The Award Notice and these Terms and Conditions shall be construed and enforced in accordance with the laws of the State of New York, other than any choice of law provisions calling for the application of laws of another jurisdiction. For purposes of litigating any dispute that arises directly or indirectly from the relationship of the parties evidenced by this grant or these Terms and Conditions, the parties hereby submit to and consent to the exclusive jurisdiction of the State of New York and agree that such litigation shall be conducted only in the courts of New York County, New York, or the federal courts for the United States for the Southern District of New York, and no other courts, where this grant is made and/or to be performed and agree to such other choice of forum provisions as are included in the Plan.

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5.6    Nature of Plan. By participating in the Plan, you acknowledge, understand and agree that:

(a)     The Plan is discretionary in nature and limited in duration, and may be amended, cancelled, or terminated by the Corporation, in its sole discretion, at any time.

(b)    The grant of RSUs under the Plan is a one-time benefit and does not create any contractual or other right to receive RSUs or benefits in lieu of such awards in the future. Future awards, if any, will be at the sole discretion of the Corporation, including, but not limited to, the form and timing of the award, the number of shares of Common Stock subject to the award, the vesting provisions applicable to the award and the purchase price (if any).

(c)    Your participation in the Plan is voluntary, and the value of your RSUs is an extraordinary item of compensation and is outside the scope of your employment (and your employment contract, if any). As such, your RSUs are not part of normal or expected compensation for purposes of calculating any severance, resignation, redundancy, dismissal, termination or end of service payments, bonuses, long-service awards, pension or retirement benefits, or similar payments.

(d)    No claim or entitlement to compensation or damages shall arise from forfeiture of the RSUs resulting from the termination of your employment or other service relationship (for any reason whatsoever, whether or not later found to be invalid or in breach of employment laws in the jurisdiction where you are employed or the terms of your employment agreement, if any). In consideration of the grant of the RSUs, you expressly agree not to institute any such claim against the Corporation, any of its Affiliates or your Employer.

    5.7    Data Privacy.By accepting the RSUs, you declare that you agree with the data processing practices described herein and consent to the collection, processing and use of your Personal Data (as defined below) by the Corporation and the transfer of your Personal Data to the recipients mentioned herein, including recipients located in countries which do not adduce an adequate level of protection from a European (or other non-U.S.) data protection law perspective, for the purposes described herein.

(a)Declaration of Consent. You understand that you need to review the following information about the processing of your personal data by or on behalf of the Corporation, your Employer and/or any of its Affiliates, as described herein, and any other RSU grant materials (the “Personal Data”) and declare your consent. With regard to the processing of your Personal Data in connection with the Plan, you understand that the Corporation is the controller of the Personal Data.

(b)Data Processing and Legal Basis. The Corporation collects, uses and otherwise processes your Personal Data for the purposes of allocating shares and implementing, administering and managing the Plan. You understand that this Personal Data may include, without limitation, your name, home address and telephone number, email address, personal bank account details, date of birth, social insurance number, passport number or other identification number (e.g., resident registration number), salary, nationality, job title, any shares of Common Stock or directorships held in the Corporation or its Affiliates, details of all RSUs or any other entitlement to shares of Common Stock or equivalent benefits awarded, canceled, purchased, vested, unvested or outstanding in your favor. The Corporation’s legal basis for the processing of your Personal Data is your consent.

(c)Stock Plan Administration Service Providers. You understand that the Corporation may transfer your Personal Data, or parts thereof, to Fidelity Stock Plan Services LLC and certain of its affiliated companies (“Fidelity”), an independent service provider based in the United States which assists the Corporation with the implementation, administration and management of the Plan. In the future, the Corporation may select a different service provider and share your Personal Data with such different service provider that serves the Corporation in a similar manner. You understand and acknowledge that the Corporation’s service provider may open an account for you to receive and trade shares acquired under the Plan and that you will be asked to agree on separate terms and data processing practices with the service provider, which is a condition of your ability to participate in the Plan.

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(d)International Data Transfers. You understand that the Corporation and, as of the date hereof, certain third parties assisting in the implementation, administration and management of the Plan, such as the Corporation’s service providers, are based in the United States. If you are located outside the United States, you understand and acknowledge that your country has enacted data privacy laws that are different from the laws of the United States. For example, the European Commission has issued only a limited adequacy finding with respect to the United States that applies solely if and to the extent that companies self-certify and remain self-certified under the EU/U.S. Privacy Shield program. Otherwise, transfers of personal data from the EU to the United States can be made on the basis of Standard Contractual Clauses approved by the European Commission or other appropriate safeguards permissible under the Applicable Laws. If you are located in the EU or EEA, the Corporation may receive, process and transfer your Personal Data onward to third-party service providers solely on the basis of appropriate data transfer agreements or other appropriate safeguards permissible under Applicable Laws. If applicable, you understand that you can ask for a copy of the appropriate data processing agreements underlying the transfer of your Personal Data by contacting your local human resources representative. The Corporation’s legal basis for the transfer of your Personal Data is your consent.

(e)Data Retention. You understand that the Corporation will use your Personal Data only as long as is necessary to implement, administer and manage your participation in the Plan, or to comply with Applicable Laws, including under tax and securities laws. In the latter case, you understand and acknowledge that the Corporation’s legal basis for the processing of your Personal Data would be compliance with the Applicable Laws or the pursuit by the Corporation of respective legitimate interests not outweighed by your interests, rights or freedoms. When the Corporation no longer needs your Personal Data for any of the above purposes, you understand the Corporation will remove it from its systems.

(f)Voluntariness and Consequences of Denial/Withdrawal of Consent. You understand that your participation in the Plan and your grant of consent is purely voluntary. You may deny or later withdraw your consent at any time, with future effect and for any or no reason. If you deny or later withdraw your consent, the Corporation can no longer offer you participation in the Plan or offer other awards to you or administer or maintain such awards and you would no longer be able to participate in the Plan. You further understand that denial or withdrawal of your consent would not affect your status or salary as an employee or your career and that you would merely forfeit the opportunities associated with the Plan.

(g)Data Subject Rights. You understand that data subject rights regarding the processing of personal data vary depending on the Applicable Laws and that, depending on where you are based and subject to the conditions set out in the Applicable Laws, you may have, without limitation, the rights to (i) inquire whether and what kind of Personal Data the Corporation holds about you and how it is processed, and to access or request copies of such Personal Data, (ii) request the correction or supplementation of Personal Data about you that is inaccurate, incomplete or out-of-date in light of the purposes underlying the processing, (iii) obtain the erasure of Personal Data no longer necessary for the purposes underlying the processing, processed based on withdrawn consent, processed for legitimate interests that, in the context of your objection, do not prove to be compelling, or processed in non-compliance with applicable legal requirements, (iv) request the Corporation to restrict the processing of your Personal Data in certain situations where you feel its processing is inappropriate, (v) object, in certain circumstances, to the processing of Personal Data for legitimate interests, and to (vi) request portability of your Personal Data that you have actively or passively provided to the Corporation (which does not include data derived or inferred from the collected data), where the processing of such Personal Data is based on consent or your employment or service contract and is carried out by automated means. In case of concerns, you understand that you may also have the right to lodge a complaint with the competent local data protection authority. Further, to receive clarification of, or to exercise any of your rights, you should contact your local human resources representative.

5.8    Insider Trading/Market Abuse Laws. You may be subject to insider trading restrictions and/or market abuse laws based on the exchange on which the shares of Common Stock are listed and in applicable jurisdictions including the United States and your country or your broker’s country, if

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different, which may affect your ability to accept, acquire, sell or otherwise dispose of shares of Common Stock, rights to shares of Common Stock (e.g., RSUs) or rights linked to the value of shares of Common Stock under the Plan during such times as you are considered to have “inside information” regarding the Corporation (as defined by the laws in the applicable jurisdictions). Local insider trading laws and regulations may prohibit the cancellation or amendment of orders you placed before you possessed inside information. Furthermore, you could be prohibited from (a) disclosing the inside information to any third party and (b) “tipping” third parties or causing them otherwise to buy or sell securities (third parties include fellow employees). Any restrictions under these laws or regulations are separate from and in addition to any restrictions that may be imposed under any applicable insider trading policy of the Corporation. You acknowledge that it is your responsibility to comply with any applicable restrictions, and you should speak to your personal advisor on this matter.

5.9    Electronic Delivery and Acceptance. The Corporation may, in its sole discretion, deliver any documents related to current or future participation in the Plan by electronic means. You hereby consent to receive such documents by electronic delivery and agree to participate in the Plan through an on-line or electronic system established and maintained by the Corporation or a third party designated by the Corporation.

5.10    Severability. The provisions of these Terms and Conditions are severable and if any one or more provisions are determined to be illegal or otherwise unenforceable, in whole or in part, the remaining provisions shall nevertheless be binding and enforceable. Alternatively, the Corporation, in its sole discretion, shall have the power and authority to revise or strike such provision to the minimum extent necessary to render it valid and enforceable to the full extent permitted under Applicable Laws.

    5.11    Liability for Breach. You shall indemnify the Corporation and hold it harmless from and against any and all damages or liabilities incurred by the Corporation (including liabilities for attorneys’ fees and disbursements) arising out of any breach by you of these Terms and Conditions, including, without limitation, any attempted transfer of RSUs in violation of Section 1.4 of these Terms and Conditions.

5.12    Waiver. You acknowledge that a waiver by the Corporation of any provision of these Terms and Conditions shall not operate or be construed as a waiver of any other provision of these Terms and Conditions, or of any subsequent breach of these Terms and Conditions.

5.13    Addendum. The grant of your RSUs shall be subject to any special terms and conditions set forth in any Addendum to these Terms and Conditions (the “Addendum”) for your state of residence (and your state of employment, if different). If you relocate your residency or employment to one of the states included in the Addendum, the special terms and conditions for such state will apply to you, to the extent the Corporation determines that the application of such terms and conditions is necessary or advisable for legal or administrative reasons. The Addendum shall constitute part of the Terms and Conditions.

5.14    Additional Requirements. The Corporation reserves the right to impose other requirements on the RSUs, any payment made pursuant to the RSUs, and your participation in the Plan, to the extent the Corporation determines, in its sole discretion, that such other requirements are necessary or advisable for legal or administrative reasons. Such requirements may include (but are not limited to) requiring you to sign any agreements or undertakings that may be necessary to accomplish the foregoing.

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THE BANK OF NEW YORK MELLON CORPORATION

FORM OF ADDENDUM TO
TERMS AND CONDITIONS

OF RESTRICTED STOCK UNITS

In addition to the terms of the Award Notice – Executive Committee General and the Terms and Conditions - Executive Committee General and as well as the terms of the Plan, the RSUs are subject to the following additional terms and conditions (the “Addendum”). All capitalized terms as contained in this Addendum shall have the same meaning as set forth in the Award Notice, the Terms and Conditions and the Plan. Pursuant to Section 5.13 of the Terms and Conditions, if you transfer your residence and/or employment to another location reflected in an Addendum at the time of transfer, the special terms and conditions for such location will apply to you to the extent the Corporation determines, in its sole discretion, that the application of such terms and conditions is necessary or advisable in order to comply with local law, rules and regulations, or to facilitate the operation and administration of the award of RSUs and the Plan (or the Corporation may establish alternative terms and conditions as may be necessary or advisable to accommodate your transfer).

CALIFORNIA

1.    Non-Solicitation of Clients, Contractors and Employees; Non-Competition. The following provision shall replace Section 3.2 of the Terms and Conditions in its entirety:

3.2    Non-Solicitation of Clients, Contractors and Employees; Non-Competition.

(a)    Non-Solicitation of Clients, Contractors and Employees. To protect the Corporation’s and its Affiliates’ trade secrets and for the good and valuable consideration offered pursuant to the Award Agreement, which is in excess of any consideration you are otherwise entitled to receive, you agree that until one (1) year from the Termination Date or, if later, the final vesting date set forth in the Award Notice (the “Restricted Period”), to the maximum extent permitted by Applicable Laws, you will not directly or indirectly use any trade secrets of the Corporation or its Affiliates to (i) solicit or induce or attempt to solicit or induce any current or prospective client of the Corporation or an Affiliate known to you, to initiate or continue a client relationship with you other than with the Corporation or Affiliate, or to terminate or reduce its client relationship with the Corporation or Affiliate, or (ii) solicit any employee or contractor to terminate or reduce their employment or engagement, whichever is applicable, with the Corporation or Affiliate. Even at the conclusion of the Restricted Period, you are still not permitted to use the Corporation’s or its Affiliates’ trade secrets for any purpose. During the Restricted Period, you agree to (i) advise any person or entity that seeks to employ you of the terms of these covenants; and (ii) immediately notify Human Resources equity administration if you are not in compliance with your obligations above.

(b)    Non-Competition. Intentionally Omitted.

MASSACHUSETTS

1.    Non-Competition. The following provision shall replace Section 3.2(b) of the Terms and Conditions in its entirety:

(b)    Non-Competition. Your RSUs, whether vested (but unsettled) or unvested, and including any dividend equivalent rights, shall be immediately forfeited if, after your separation from employment with the Corporation or its Affiliates by reason of your (i) Retirement-Eligible Event or (ii) termination providing transition/separation pay, as specified  in Sections 2.2(b) and 2.2(c) respectively, and before the end of the Restricted Period, you directly or indirectly (without the prior written consent of the Corporation), (i) associate (including as a director, officer, employee, partner, consultant, agent or advisor) with a Competitive Enterprise in a Restricted Territory, or (ii) transact business on behalf of a Competitive Enterprise in a Restricted Territory.  For purposes of the Award Agreement, “Competitive

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Enterprise” means any business enterprise that either (A) is a member of the Corporation’s competitive peer group as disclosed in the Corporation’s proxy statement that was most recently filed with the Securities and Exchange Commission preceding the Termination Date; or (B) is any other business enterprise for whom you would be performing services similar to those performed at the Corporation or any Affiliate within the twelve (12) months preceding the Termination Date.  For the purposes of the Award Agreement, “Restricted Territory” means all geographic areas in which you, during any time within the last 24 months preceding the end of your employment with the Corporation, provided services or had a material presence or influence, which given your current senior role in the Corporation shall be presumed to mean the entire world.

For the sake of clarity, the foregoing non-compete restriction does not prohibit you from being employed by the government or a not-for profit organization (i.e. an organization exempt from local and national tax laws).  In view of the limited scope of the non-compete obligation assumed under this Section, which does not prevent you from working in other entities that are not affected by it, you acknowledge and agree that: (i) the foregoing non-compete obligation is reasonable and necessary to protect the Corporation’s legitimate business interests including its confidential information and goodwill, and (ii) the continued vesting in your RSUs, including any dividend equivalent rights, following a Retirement-Eligible Event or termination providing transition/separation pay is fair and reasonable consideration for the foregoing non-compete obligation. During the Restricted Period, you further agree to (i) advise any person or entity that seeks to employ you of the terms of these covenants; and (ii) immediately notify Human Resources equity administration if you are not in compliance with your obligations above. You have seven business days from the date you electronically acknowledge and accept the terms of the Award Agreement to rescind your acceptance of the Award Agreement. You may rescind your acceptance of the Award Agreement by sending written notice to Human Resources equity administration at BNYMellonEquity@bnymellon.com

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EX-10.2

Exhibit 10.2

FORM OF PERFORMANCE SHARE UNIT AGREEMENT

THE BANK OF NEW YORK MELLON CORPORATION

LONG-TERM INCENTIVE PLAN

FORM OF NOTICE OF AWARD – PERFORMANCE SHARE UNITS – EXECUTIVE COMMITTEE GENERAL

Subject to the terms and conditions of The Bank of New York Mellon Corporation 2019 Long-Term Incentive Plan (the “Plan”), this Notice of Award - Performance Share Units – Executive Committee General (the “Award Notice”), and the Terms and Conditions of Performance Share Units – Executive Committee General (the “Terms and Conditions”), The Bank of New York Mellon Corporation (the “Corporation”) grants you performance share units (“PSUs”) as reflected below and on the Corporation’s equity award website (the “Equity Website”). Each PSU represents the opportunity to receive one (1) share of the Corporation’s common stock, par value $.01 (“Common Stock”), upon satisfaction of the terms and conditions as set forth in the Award Notice and the Terms and Conditions (collectively, the “Award Agreement”), subject to the terms of the Plan. The purpose of the award is to incentivize you to align your interests with that of the Corporation and to reward your future contribution to the performance of the Corporation’s business.

Participant	[PARTICIPANT NAME]
Grant Date	[GRANT DATE]
Number of PSUs The “Grant Amount” of “PSUs” (assuming achievement of 100% earnout)	[NUMBER OF SHARES GRANTED]

Vesting Schedule – Please refer to Appendix

The vesting date may be delayed if and to the extent the Risk Adjustment Process set forth in Exhibit A is not completed by such date or achievement of performance as set forth on Attachment A have not been determined by such date, in each case, subject to Section 4.1 of the Terms and Conditions.

Risk Adjustment Process - Unvested PSUs are subject to forfeiture based upon the Risk Adjustment Process set forth in Exhibit A.

THE CORPORATION’S GRANT OF PSUs AS REFLECTED HEREIN IS CONTINGENT UPON YOUR ACKNOWLEDGEMENT AND ACCEPTANCE OF THE AWARD AGREEMENT AND THE PLAN ELECTRONICALLY ON THE EQUITY WEBSITE ON OR BEFORE [GRANT ACCEPT BY DATE] (THE “ACCEPTANCE DEADLINE”). IF YOU FAIL TO DO SO, THE CORPORATION’S GRANT OF PSUs AS REFLECTED HEREIN SHALL BE NULL AND VOID, AND SHALL NOT BE RE-INSTATED.

BY ELECTRONICALLY ACKNOWLEDGING AND ACCEPTING THE CORPORATION’S GRANT OF PSUS, YOU AFFIRMATIVELY AND EXPRESSLY AGREE:

(1)    SUCH ACKNOWLEDGEMENT AND ACCEPTANCE CONSTITUTES YOUR ELECTRONIC SIGNATURE IN EXECUTION OF THE AWARD AGREEMENT

(2)    TO BE BOUND BY THE PROVISIONS OF THE AWARD AGREEMENT AND THE PLAN INCLUDING WITHOUT LIMITATION ANY LOCATION SPECIFIC SPECIAL TERMS AND CONDITIONS SET FORTH IN THE ADDENDUM, AS DEFINED IN THE TERMS AND CONDITIONS

(3)    YOU (A) HAVE REVIEWED THE AWARD AGREEMENT AND THE PLAN IN THEIR ENTIRETY; (B) WERE GIVEN A REASONABLE TIME TO COMPLETE SUCH REVIEW; (C) HAVE BEEN ADVISED BY THE CORPORATION TO CONSULT WITH YOUR OWN ATTORNEY BEFORE ENTERING INTO THE AWARD AGREEMENT; (D) HAVE HAD AN OPPORTUNITY TO OBTAIN PROFESSIONAL LEGAL/TAX/INVESTMENT ADVICE PRIOR TO ACCEPTING THE PSUs; AND (E) FULLY UNDERSTAND ALL OF THE PROVISIONS OF THE AWARD AGREEMENT AND THE PLAN

(4)    YOU HAVE BEEN PROVIDED WITH A COPY OR ELECTRONIC ACCESS TO A COPY OF THE PLAN AND THE U.S. PROSPECTUS FOR THE PLAN

(5)    TO ACCEPT AS BINDING, CONCLUSIVE AND FINAL ALL DECISIONS OR INTERPRETATIONS OF THE CORPORATION UPON ANY QUESTIONS ARISING UNDER THE AWARD AGREEMENT AND THE PLAN

PARTICIPANT ACCEPTANCE DATE: [ACCEPTANCE DATE]

********************************

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EXHIBIT A

Risk Adjustment/Forfeiture Decision Process

For any performance year in which you remain a covered employee, your risk performance will be assessed via a Risk Culture Summary Scorecard (“RCSS”) Score or a Performance Management Platform (“PMP”) Risk Goal Rating. If, in any year, you receive an RCSS Score of 4 or worse, or a PMP Risk Goal Rating of “Partially Met Expectations” or “Did Not Meet Expectations,” your unvested PSUs (including any PSUs resulting from dividend equivalents) will be subject to review by the Incentive Compensation Review Committee (“ICRC”) for consideration of forfeiture. If you are no longer a covered employee or have left the Corporation, any unvested portion of the PSUs (including any PSUs resulting from dividend equivalents) will also be subject to a risk review by the ICRC. The ICRC is generally comprised of senior managers and senior control managers.

In that event, as part of its review, ICRC will ask –

•Did your score/rating reflect poor risk behavior by you in a prior year?

•Did you receive an award in that year?

If the answer to both questions is yes, ICRC asks the following questions with respect to each of the designated prior years:

•Financial Impact: How much did/will the issue cost the Company?

•Reputational Impact: How much of a regulatory impact did/will it have on the Company?

ICRC selects the impact answer that falls into the highest category below to determine the impact forfeiture percentage.

Criteria	Metric	None	Low	Medium	High
Financial Impact
Reputational Impact

As used in this Exhibit A, the term “Company” shall mean the Corporation and its Affiliates.

Then the ICRC asks how much, if any, control/responsibility you had regarding the situation. The answer to the last question determines the modifier to be applied to the impact forfeiture percentage.

Criteria	None	Indirect	Direct
Your role & responsibility

Example: [Insert Example]

The ICRC will submit its recommendations to the Human Resources and Compensation Committee of the Corporation’s Board of Directors for final action and approval.

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THE BANK OF NEW YORK MELLON CORPORATION

FORM OF TERMS AND CONDITIONS

OF PERFORMANCE SHARE UNITS – EXECUTIVE COMMITTEE GENERAL

The Performance Share Units (“PSUs”) with respect to Common Stock of The Bank of New York Mellon Corporation (the “Corporation”) granted to you on the Grant Date are subject to the Notice of Award - Performance Share Units – Executive Committee General (the “Award Notice”), these Terms and Conditions of Performance Share Units – Executive Committee General (the “Terms and Conditions”) and all of the terms and conditions of The Bank of New York Mellon Corporation 2019 Long-Term Incentive Plan (the “Plan”), which is incorporated herein by reference. In the case of a conflict between the Award Notice, these Terms and Conditions and the terms of the Plan, the provisions of the Plan shall govern. Capitalized terms used but not defined herein shall have the same meaning as provided or reflected in the Award Notice or the Plan, as applicable. For purposes of these Terms and Conditions, “Employer” means the Corporation or any Affiliate that employs or employed you on the applicable date.

SECTION 1: Performance Share Unit Award

    1.1    Grant of Award. Subject to these Terms and Conditions and the terms of the Plan, the Corporation grants you the number of PSUs as reflected in the Award Notice. The PSUs shall vest in accordance with the Vesting Schedule and shall be subject to the Risk Adjustment Process as reflected in the Award Notice.

    1.2    Dividend Equivalents. During the period prior to vesting, dividend equivalents shall be determined with respect to the PSUs as if reinvested as additional PSUs on the dividend payment date and shall be paid to you pursuant to Section 4 of these Terms and Conditions only if and to the extent that the underlying PSUs become vested as provided in the Award Agreement, and any remaining dividend equivalents (including any PSUs resulting from dividend equivalents) shall be forfeited. In the event that you receive any additional PSUs as an adjustment with respect to the Grant Amount, such additional PSUs will be subject to the same restrictions as if granted under the Award Agreement as of the Grant Date and paid pursuant to Section 4 of this Agreement.

    1.3    No Voting Rights. Prior to the settlement of your PSUs pursuant to these Terms and Conditions, you shall not be entitled to vote the shares of Common Stock underlying the PSUs.

    1.4    Nontransferable. The PSUs shall be transferable only by will or the laws of descent and distribution. If you purport to make any transfer of the PSUs, except as described herein, the PSUs and all rights thereunder immediately shall terminate and be forfeited.

SECTION 2: Vesting, Performance Period, Forfeiture, Termination of Employment and Disability

    2.1    Vesting, Performance Period and Forfeiture.

    (a)    Vesting. Subject to Sections 3 and 5.4 of these Terms and Conditions, PSUs (as may be adjusted from the Grant Amount by reference to the performance goals and the Risk Adjustment Process) may be earned as set forth in Attachment A for the period [Insert Performance Period] (the “Performance Period”) and shall vest on [Insert Date]; provided that you remain continuously employed with your Employer through the end of the Performance Period; and provided further that unvested PSUs (including any PSUs arising from dividend equivalents) are subject to forfeiture based upon the Risk Adjustment Process each year and following completion of the Performance Period as set forth on Exhibit A. Notwithstanding anything to the contrary contained in the Award Agreement and in accordance with Section 4.1, a vesting may be delayed if, on the vesting date, you are the subject of ongoing disciplinary or performance management investigations or proceedings concerning the circumstances under which forfeiture or clawback of this award could apply.  In such cases, the applicable portion of the award, if any, will vest following the completion of such investigations and proceedings to the extent the Corporation determines that forfeiture and/or clawback does not apply.

    (b)    Forfeiture upon Termination of Employment. Subject to Sections 2.2 and 2.3 of these Terms and Conditions, if you cease to be continuously employed with your Employer through the end of

the Performance Period, you shall cease vesting in your PSUs as of your Termination Date and any unvested PSUs (including any PSUs resulting from dividend equivalents) immediately shall terminate and be forfeited, except in situations where vesting would have occurred but for the fact that a determination has not yet been made as to whether a risk adjustment pursuant to Exhibit A is required, in which case vesting shall occur in accordance with the terms of the Award Agreement provided that the Committee determines the effect, if any, of a risk adjustment. As used herein, “Termination Date” shall mean the last day on which you are an employee of your Employer.

(c)    Forfeiture upon Termination of Employment for Cause. Notwithstanding anything to the contrary contained in these Terms and Conditions, if your Employer terminates your employment for Cause, your PSUs, whether vested (but unsettled) or unvested, and including any dividend equivalent rights (including any PSUs resulting from dividend equivalents), immediately shall terminate and be forfeited. For purposes of these Terms and Conditions, “Cause” shall mean:

(i)    you have been convicted of, or have entered into a pretrial diversion or entered a plea of guilty or nolo contendere (plea of no contest) to a crime or offense constituting a felony (or its equivalent under applicable laws outside of the United States), or to any other crime or offense involving moral turpitude, dishonesty, fraud, breach of trust, money laundering, or any other offense that may preclude you from being employed with a financial institution;

(ii)    you are grossly negligent in the performance of your duties or have failed to perform the duties of your employment, including, without limitation, failure to comply with any lawful directive from your Employer or the Corporation, other than by reason of incapacity due to disability or from any permitted leave of absence required by law;

(iii)    you have violated the Corporation’s Code of Conduct or any of the policies of the Corporation or your Employer governing the conduct of business or your employment, including without limitation, those relating to discrimination and retaliation;

(iv)    you have engaged in any misconduct which has the effect or potential of being injurious to the Corporation, any Affiliate or your Employer, including, but not limited to, its reputation;

(v)    you have engaged in an act of fraud or dishonesty, including, but not limited to, taking or failing to take actions intending to result in personal gain; or

(vi)    if you are employed outside the United States, any other circumstances (beyond those listed above) that permit the immediate termination of your employment without notice or payment in accordance with the terms of your employment agreement or Applicable Laws (as defined in Section 5.2).

The determination of whether your actions will be considered Cause for purposes of these Terms and Conditions will be determined by the Corporation or any of its Affiliates, at its or their sole discretion, as applicable. Any determinations of Cause will be considered conclusive and binding on you.

    2.2    Specified Terminations of Employment.

    (a)    Death. If you cease to be continuously employed with your Employer by reason of your death prior to the date that your PSUs become fully vested, all unvested PSUs may vest as provided in Section 2.1(a) above following completion of the Performance Period and the balance of the PSUs that do not vest with respect to the Performance Period shall be deemed forfeited at the end of the Performance Period. In such case, the Corporation will issue your legal representative or your estate the vested PSUs settled in shares of Common Stock in accordance with Section 4.

(b)    Age & Years of Service Rule; Termination Providing Transition/Separation Pay prior to Age 55.

(i)Age & Years of Service Rule. If you cease to be continuously employed with your Employer (i) on or after your attainment of age 55 but prior to age 60, and (ii) the combination of

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your age and years of credited employment with your Employer (in both instances, full and partial years) on your Termination Date equals or exceeds 65 (satisfaction of (i) and (ii) being a “Rule of 65 Retirement-Eligible Event”), a pro rata portion of the unvested PSUs may vest as provided in Section 2.1(a) above following completion of the Performance Period, so long as you fully comply with the applicable covenants provided in Section 3 hereof and provided that, if requested by your Employer (to the extent not prohibited by Applicable Laws), you execute and do not revoke a Transition/Separation Agreement and Release acceptable to your Employer. Such pro rata portion shall be determined as set forth in subsection (iii) below. For purposes of the foregoing, partial years shall be determined based upon the number of days since your prior birthday or the number of days of credited employment since your prior employment anniversary, as the case may be. Notwithstanding the foregoing, in the case of continued vesting following a Rule of 65 Retirement-Eligible Event, if you commence employment with a new employer that grants you a new award that replaces all or any portion of this award, any portion of this award that has been replaced by your new employer will be forfeited and will no longer vest and, where relevant, will be promptly repaid by you if the award or any portion of this award has already vested.

        (ii)    Termination Providing Transition/Separation Pay prior to Age 55. Provided that you execute and do not revoke a Transition/Separation Agreement and Release acceptable to your Employer, if you cease to be continuously employed with your Employer by reason of a termination by your Employer prior to your attainment of age 55 and in connection with such termination you receive transition/separation pay from the Corporation or your Employer, a pro rata portion of the unvested PSUs may vest as provided in Section 2.1(a) above following completion of the Performance Period, so long as you fully comply with the applicable covenants provided in Section 3 hereof. Such pro rata portion shall be determined as set forth in subsection (iii) below.

(iii)Calculation of Pro Rata Portion. In the event of continued vesting pursuant to subsection (b)(i) or (b)(ii) above, the pro rata portion of the PSUs that vests shall equal (i) the number of days from the first day of the Performance Period through the Termination Date, divided by (ii) , with the result multiplied by (iii) the number of PSUs, with that result multiplied by (iv) the applicable final earnout percentage as determined under Attachment A. In such case, the balance of the PSUs awarded shall be deemed forfeited at the end of the Performance Period.

(c)    Special Age Rule. If you cease to be continuously employed with your Employer on or after your attainment of age 60 (“Rule of 60 Retirement-Eligible Event”), all unvested PSUs may vest as provided in Section 2.1(a) above following completion of the Performance Period so long as you fully comply with the covenants provided in Section 3 hereof and provided that, if requested by your Employer, you execute and do not revoke a Transition/Separation Agreement and Release acceptable to your Employer. The balance of the PSUs that do not vest with respect to the Performance Period shall be deemed forfeited at the end of the Performance Period. Notwithstanding the foregoing, in the case of continued vesting following a Rule of 60 Retirement-Eligible Event, if you commence employment with a new employer that grants you a new award that replaces all or any portion of this award, any portion of this award that has been replaced by your new employer will be forfeited and will no longer vest and, where relevant, will be promptly repaid by you if the award or any portion of this award has already vested.

(d)    Termination Providing Transition/Separation Pay on or after Age 55. Provided that you execute and do not revoke a Transition/Separation Agreement and Release acceptable to your Employer, if you cease to be continuously employed with your Employer by reason of a termination by your Employer on or after your attainment of age 55 and in connection with such termination you receive transition/separation pay from the Corporation or your Employer, all unvested PSUs may vest as provided in Section 2.1(a) above following completion of the Performance Period so long as you fully comply with the applicable covenants provided in Section 3 hereof. The balance of the PSUs that do not vest with respect to the Performance Period shall be deemed forfeited at the end of the Performance Period.

    (e)    Transition/Separation Pay Meaning. For purposes of Sections 2(b)(ii) and 2(d) above, “transition/separation pay” means any severance, redundancy or ex-gratia compensation payment to you from the Corporation or your Employer in connection with your termination of employment that is in

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excess of the amount payable to you on account of any notice period to which you are entitled pursuant to the terms of your contract of employment or otherwise (or payment in lieu of such notice).

    (f)    Sale of Business. If you cease to be continuously employed with your Employer due to a sale of a business unit or your Employer and you are not otherwise entitled to transition/separation pay, all unvested PSUs may vest as provided in Section 2.1(a) above following completion of the Performance Period so long as you fully comply with the applicable covenants provided in Section 3 hereof. The balance of the PSUs that do not vest with respect to the Performance Period shall be deemed forfeited at the end of the Performance Period.

    (g)    Change in Control. If your employment is terminated by your Employer without Cause within two (2) years after a Change in Control occurring after the Grant Date, all unvested PSUs may vest as provided in Section 2.1(a) above following completion of the Performance Period so long as you fully comply with the applicable covenants provided in Section 3 hereof. The balance of the PSUs that do not vest with respect to the Performance Period shall be deemed forfeited at the end of the Performance Period.

(h)    Continued Vesting following Rule of 65-Retirement-Eligible Event or Rule of 60 Retirement-Eligible Event. As a condition for continued vesting of your PSUs (including any PSUs resulting from dividend equivalent rights) following a Rule of 65 Retirement-Eligible Event or a Rule of 60 Retirement-Eligible Event, your Employer may require you to periodically certify your compliance with the covenants set forth in Section 3 of these Terms and Conditions as more fully described in such Section.

(i)    Termination of Employment Prior to the Grant Date. If your Termination Date (as defined in Section 2.1(b) above) occurred prior to the Grant Date for this award, you agree that any references to you as an “employee” and “employment” in the Award Agreement means the period of time during which you were still an employee of the Corporation or any of its Affiliates.

[(j)    Additional Vesting Provisions, if any.]

2.3    Disability. If you receive current benefits under a long-term disability plan maintained by the Corporation or your Employer while any portion of your PSUs remains unvested, all unvested PSUs will remain eligible to vest as provided in Section 2.1(a) above following completion of the Performance Period so long as you are eligible to receive such benefits provided you fully comply with the applicable covenants provided in Section 3 hereof. The balance of the PSUs that do not vest with respect to the Performance Period shall be deemed forfeited at the end of the Performance Period.

SECTION 3: Notice of Resignation, Non-Solicitation, Non-Competition, Confidential Information, Non-Disparagement and Cooperation

3.1    Notice of Resignation. As consideration for this award, you will provide your Employer with 90 days’ advance written notice of any voluntary termination of your employment with your Employer.

3.2    Non-Solicitation of Clients, Contractors and Employees; Non-Competition.

To protect the Corporation’s and its Affiliates’ legitimate business interests, including its confidential information and goodwill, and for the good and valuable consideration offered pursuant to the Award Agreement, which is in excess of any consideration you are otherwise entitled to receive, and to the maximum extent permitted by Applicable Laws, you agree as follows:

(a)    Non-Solicitation of Clients, Contractors and Employees. Your PSUs, whether vested (but unsettled) or unvested, and including any PSUs resulting from dividend equivalent rights, shall be immediately forfeited if, prior to one (1) year from the Termination Date or, if later, the final vesting date set forth in the Award Notice (the “Restricted Period”), you directly or indirectly (i) solicit or induce or attempt to solicit or induce any current or prospective client of the Corporation or an Affiliate known to you, to initiate or continue a client relationship with you other than with the Corporation or Affiliate or to terminate or reduce its client relationship with the Corporation or Affiliate, or (ii) hire or employ any

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employee or contractor of the Corporation or an Affiliate, or recruit, solicit or induce such an individual to terminate their employment or engagement, whichever is applicable, with the Corporation or Affiliate. During the Restricted Period, you further agree to (i) advise any person or entity that seeks to employ you of the terms of these covenants; and (ii) immediately notify Human Resources equity administration if you are not in compliance with your obligations above.

(b)    Non-Competition. Your PSUs, whether vested (but unsettled) or unvested, and including any PSUs resulting from dividend equivalent rights, shall be immediately forfeited if, after your separation from employment with the Corporation or its Affiliates by reason of your (i) Rule of 65 Retirement-Eligible Event, (ii) termination providing transition/separation pay prior to age 55, (iii) Rule of 60 Retirement-Eligible Event or (iv) termination providing transition/separation pay on or after age 55, as specified in Sections 2.2(b)(i), 2.2(b)(ii), 2.2(c) and 2.2(d) respectively, and before the end of the Restricted Period, you, directly or indirectly (without the prior written consent of the Corporation), (i) associate (including as a director, officer, employee, partner, consultant, agent or advisor) with a Competitive Enterprise, or (ii) transact business on behalf of a Competitive Enterprise. For purposes of the Award Agreement, “Competitive Enterprise” means any business enterprise that either (A) is a member of the Corporation’s competitive peer group as disclosed in the Corporation’s proxy statement that was most recently filed with the Securities and Exchange Commission preceding the Termination Date; or (B) is any other business enterprise for whom you would be performing services similar to those performed at the Corporation or any Affiliate within the twelve (12) months preceding the Termination Date.

For the sake of clarity, the foregoing non-compete restriction does not prohibit you from being employed by the government or a not-for profit organization (i.e. an organization exempt from local and national tax laws). In view of the limited scope of the non-compete obligation assumed under this Section, which does not prevent you from working in other entities that are not affected by it, you acknowledge and agree that: (i) the foregoing non-compete obligation is reasonable and necessary to protect the Corporation’s and its Affiliates’ legitimate business interests including its confidential information and goodwill, and (ii) the ability to continue to vest in your PSUs, including any PSUs resulting from dividend equivalent rights, following a Rule of 65 Retirement-Eligible Event, a Rule of 60 Retirement-Eligible Event or a termination providing transition/separation pay is fair and reasonable consideration for the foregoing non-compete obligation. During the Restricted Period, you further agree to (i) advise any person or entity that seeks to employ you of the terms of these covenants; and (ii) immediately notify Human Resources equity administration if you are not in compliance with your obligations above.

3.3    Confidential Information.

(a)Except as may be permitted in accordance with Section 3.6 below, during the course of your employment with the Corporation or any Affiliate and continuing thereafter, you will not, either directly or indirectly, at any time, while an employee of the Corporation or any Affiliate or thereafter, make known, divulge, reveal, furnish, make available, or use (except for use in the regular course of your duties for the Corporation or its Affiliates) any Confidential Information (as defined below) without the written consent of the Corporation. You also agree that this obligation is in addition to, and not in limitation or preemption of, all other obligations of confidentiality that you may have to the Corporation or its Affiliates under the Code of Conduct, Securities Trading Policy or other rules or policies governing the conduct of their respective businesses, or general or specific legal or equitable principles.

(b)As used herein, “Confidential Information” means the information you have been given or to which you have access or become informed of which the Corporation or its Affiliates possess or have access and which relates to the Corporation or its Affiliates, is not generally known to the public or in the trade or is a competitive asset and/or otherwise constitutes a “trade secret,” as that term is defined by Applicable Laws, of the Corporation or its Affiliates, including without limitation, non- public: (i) planning data and marketing strategies; (ii) terms of any new products and investment strategies; (iii) information relating to other officers and employees of the Corporation or its Affiliates; (iv) financial results and information about the business condition of the Corporation or its Affiliates; (v) terms of any investment, management or advisory agreement or other material contract; (vi) proprietary software and related documents; (vii) customer and potential customer information (for example, client lists, prospecting lists, information about client accounts, pricing strategies, and current or proposed transactions and contact persons at such customers and customer prospects); and (viii) material

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information or internal analyses concerning customers or customer prospects of the Corporation or its Affiliates or their respective operations, condition (financial or otherwise) or plans.

3.4    Non-Disparagement. Subject to Section 3.6 below, during the course of your employment with the Corporation or any Affiliate and continuing thereafter, you will not, directly or indirectly make, issue, authorize or publish any comments or statements (orally or in writing) to the media, including without limitation traditional vehicles and social media, to any individual or entity with whom or which the Corporation, or any of its Affiliates, has a business relationship, or to any other individual or entity, which disparages, criticizes or otherwise reflects adversely upon the Corporation, any of its Affiliates or any of their respective employees, officers or directors.

3.5    Cooperation. Upon the termination of your employment for any reason or no reason, including but not limited to resignation of employment, you will fully cooperate with the Corporation and its Affiliates upon reasonable notice and at reasonable times, in the prosecution and defense of complaints, investigations, litigation, arbitration and mediation of any complaints, claims or actions now in existence or that may be threatened or brought in the future relating to events or occurrences that transpired while employed by the Corporation or any Affiliate.

3.6    Governmental Authorities. Nothing in the Award Agreement prohibits or interferes with your right to disclose any relevant and necessary information in any action or proceeding relating to the Award Agreement or as otherwise required by law or legal process. In addition, nothing in the Award Agreement prohibits or interferes with your or your attorney’s right: (a) to initiate communications directly with or report or disclose possible violations of law or regulation to, any governmental agency or entity, legislative body, or any self-regulatory organization, including but not limited to the U.S. Department of Justice (“DOJ”), the U.S. Securities and Exchange Commission (“SEC”), the U.S. Financial Industry Regulatory Authority (“FINRA”), the U.S. Equal Employment Opportunity Commission (“EEOC”), or U.S. Congress, and such reports or disclosures do not require prior notice to, or authorization from, the Corporation; (b) to participate, cooperate, or testify in any action, investigation or proceeding with, provide information to, or respond to any inquiry from any governmental agency or legislative body, any self-regulatory organization, including but not limited to the IRS, SEC, FINRA, the EEOC, DOJ, U.S. Congress (“Governmental Authorities”), or the Corporation’s Legal or Compliance Departments and such communications do not require prior notice to, or authorization from the Corporation. However, with respect to such communications, reports, participation, cooperation or testimony to the Governmental Authorities, as set forth above in clauses (a) and (b) of this Section, you may not disclose privileged communications with the Corporation’s counsel. To the extent permitted by law, upon receipt of a subpoena, court order or other legal process compelling the disclosure of any information, you will give prompt written notice to the Corporation so as to provide the Corporation ample opportunity to protect its interests in confidentiality to the fullest extent possible unless the subpoena, court order or other legal process pertains to an action described above in clauses (a) or (b) of this Section, in which event no such notice is required. Notwithstanding any confidentiality and non-disclosure obligations you may have, you are hereby advised as follows pursuant to the U.S. Federal Defend Trade Secrets Act of 2016: “An individual shall not be held criminally or civilly liable under any Federal or State trade secret law for the disclosure of a trade secret that (A) is made (i) in confidence to a Federal, State, or local government official, either directly or indirectly, or to an attorney; and (ii) solely for the purpose of reporting or investigating a suspected violation of law; or (B) is made in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal. An individual who files a lawsuit for retaliation by an employer for reporting a suspected violation of law may disclose the trade secret to the attorney of the individual and use the trade secret information in the court proceeding, if the individual (A) files any document containing the trade secret under seal; and (B) does not disclose the trade secret, except pursuant to court order.”

[3.7    Periodic Certification of Compliance. In connection with your separation from employment with the Corporation or its Affiliates by reason of your Rule of 65 Retirement-Eligible Event or Rule of 60 Retirement-Eligible Event, upon request by your Employer, you agree to periodically certify your compliance with the covenants set forth in this Section 3 through the end of the Restricted Period. If you fail to provide any such certification(s) as requested by your Employer, the PSUs whether vested (but unsettled) or unvested, and including any PSUs resulting from dividend equivalent rights, shall be immediately forfeited.]

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3.8    Existing Obligations. The terms of the Award Agreement shall not in any way (a) limit your obligations pursuant to any other agreements with the Corporation or any of its Affiliates or other corporate plans or policies applicable to you; or (b) limit the Corporation’s or your Employer’s rights to exercise any remedies it may have under Applicable Laws or under the terms of such other agreements, plans or policies.

3.9    Failure to Comply with Covenants. If you fail to comply with any of the foregoing applicable covenants, the PSUs, whether vested (but unsettled) or unvested, and including any PSUs resulting from dividend equivalent rights, shall be immediately forfeited and may be subject to repayment as provided in Section 5.4 of these Terms and Conditions.

SECTION 4: Settlement

    4.1    Time of Settlement. Vested PSUs shall be settled within two and one-half (2 ½) months following the end of the Performance Period, contingent upon the Committee’s determination of the earnout achieved and subject to the individual per-employee limitations included in the Plan; provided, if you are a “specified employee” under Section 409A of the U.S. Internal Revenue Code of 1986, as amended (the “Code”), upon separation from service and if such settlement is deferred compensation conditioned upon a separation from service and not compensation you could receive without separating from service, then settlement shall not be made until the first day following the six (6) month anniversary of your separation from service (or upon your death, if earlier).

    4.2    Form of Settlement. PSUs, including any PSUs resulting from dividend equivalents, shall be settled in the form of Common Stock delivered in book-entry form.

SECTION 5: Other Terms and Conditions

    5.1    No Right to Employment. Neither the award of PSUs nor anything else contained in these Terms and Conditions nor the Plan shall be deemed to limit or restrict the right of your Employer to terminate your employment at any time, for any reason, with or without Cause.

    5.2    Compliance with Laws. Notwithstanding any other provision of these Terms and Conditions, you agree to take any action, and consent to the taking of any action by the Corporation and your Employer with respect to the PSUs awarded hereunder necessary to achieve compliance with applicable laws, regulations or relevant regulatory requirements or interpretations in effect from time to time (“Applicable Laws”). Any determination by the Corporation in this regard shall be final, binding and conclusive. The Corporation shall in no event be obligated to register any securities pursuant to the U.S. Securities Act of 1933 (as the same shall be in effect from time to time) or other applicable foreign securities laws, or to take any other affirmative action in order to cause the delivery of shares in book-entry form or otherwise therefore to comply with any Applicable Laws. For the avoidance of doubt, you understand and agree that if any payment or other obligation under or arising from these Terms and Conditions, including without limitation dividend equivalent rights, or the Plan is in conflict with or is restricted by any Applicable Laws, the Corporation may reduce, revoke, cancel, clawback or impose different terms and conditions to the extent it deems necessary or appropriate, in its sole discretion, to effect such compliance. If the Corporation determines that it is necessary or appropriate for any payments under these Terms and Conditions to be delayed in order to avoid additional tax, interest and or penalties under Section 409A of the Code, then the payments would not be made before the date which is the first day following the six (6) month anniversary of the date of your termination of employment (or upon earlier death).

5.3    Tax Withholding. Regardless of any action the Corporation or your Employer take with respect to any or all income tax (including U.S. federal, state and local taxes or non-U.S. taxes), social insurance, payroll tax, payment on account or other tax-related withholding (“Tax-Related Items”), you acknowledge that the ultimate liability for all Tax-Related Items legally due by you is and remains your responsibility and that the Corporation and your Employer (a) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of the PSUs, including the grant of the PSUs, the vesting of the PSUs, the subsequent sale of any shares of Common Stock acquired pursuant to the PSUs and the receipt of any dividends or dividend equivalents (including any

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PSUs resulting from dividend equivalents), and (b) do not commit to structure the terms of the grant or any aspect of the PSUs to reduce or eliminate your liability for Tax-Related Items. Further, if you are or become subject to taxation in more than one country you acknowledge that the Corporation and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one country.

Prior to the delivery of shares of Common Stock upon the vesting of your PSUs, if your country of residence (and/or the country of employment, if different) requires withholding of Tax-Related Items, the Corporation shall be authorized to withhold a sufficient number of whole shares of Common Stock otherwise issuable upon the vesting of the PSUs that have an aggregate Fair Market Value sufficient to pay the Tax-Related Items required to be withheld with respect to the shares of Common Stock. The cash equivalent of the shares of Common Stock withheld will be used to settle the obligation to withhold the Tax-Related Items. In the event that withholding in shares of Common Stock is prohibited or problematic under Applicable Laws or otherwise may trigger adverse consequences to the Corporation or your Employer, your Employer is authorized to withhold theTax-Related Items required to be withheld with respect to the shares of Common Stock in cash from your regular salary and/or wages or any other amounts payable to you. In the event the withholding requirements are not satisfied through the withholding of shares of Common Stock by the Corporation or through your regular salary and/or wages or other amounts payable to you by your Employer, no shares of Common Stock will be issued to you (or your estate) upon vesting of the PSUs unless and until satisfactory arrangements have been made by you with respect to the payment of any Tax-Related Items that the Corporation or your Employer determines, in its sole discretion, must be withheld or collected with respect to such PSUs. By accepting this grant of PSUs, you expressly consent to the withholding of shares of Common Stock and/or withholding from your regular salary and/or wages or other amounts payable to you as provided for hereunder. All other Tax-Related Items related to the PSUs and any shares of Common Stock delivered in payment thereof are your sole responsibility.

Depending on the withholding method, the Corporation or your Employer may withhold or account for Tax-Related Items by considering applicable statutory or other withholding rates, including minimum or maximum rates applicable in your jurisdiction(s). In the event of over-withholding, you may receive a refund of any over-withheld amount in cash (with no entitlement to the equivalent in Common Stock). In the event of under-withholding, you may be required to pay any additional Tax-Related Items directly to the applicable tax authority or to the Corporation and/or your Employer. If the obligation for Tax-Related Items is satisfied by withholding in shares of Common Stock, you shall be deemed to have been issued the full number of shares of Common Stock subject to the vested PSUs, notwithstanding that a number of the shares of Common Stock are held back solely for the purpose of paying the Tax-Related Items.

    5.4    Forfeiture and Repayment. If, directly or indirectly:

    (a)    during the course of your employment with your Employer, you violate any obligations set forth in the Award Agreement (including without limitation those obligations set forth in Section 3 of these Terms and Conditions) or engage in conduct or it is discovered that you engaged in conduct that is adverse to the interests of the Corporation or its Affiliates, including failures to comply with the Corporation’s or any of its Affiliate’s rules or regulations, fraud, or conduct contributing to any financial restatements or irregularities;

(b)    during the course of your employment with your Employer and, unless you have post-termination obligations or duties owed to the Corporation or its Affiliates pursuant to an individual agreement set forth in subsection (d) below, for one (1) year thereafter, you engage (other than for the benefit of the Corporation or its Affiliates) in solicitation and/or diversion of customers or employees;

(c)    during the course of your employment with your Employer, you engage in competition with the Corporation or its Affiliates;

(d)    following termination of your employment with your Employer for any reason, with or without Cause, you violate any post-termination obligations or duties owed to the Corporation or its Affiliates under any agreement with the Corporation or its Affiliates, including without limitation, any employment, confidentiality, non-solicitation, non-competition or other agreement restricting post-

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employment conduct (including without limitation those obligations set forth in Section 3 of these Terms and Conditions); or

(e)    any compensation that the Corporation or its Affiliates has promised or paid to you is required to be forfeited and/or repaid to the Corporation or its Affiliates pursuant to applicable regulatory requirements;

then the Corporation may cancel all or any portion of the PSUs and/or require repayment of any shares of Common Stock (or the value thereof) or other amounts which were acquired pursuant to the PSUs (including dividends paid on the shares of Common Stock and dividend equivalents). The Corporation shall have sole discretion to determine what constitutes grounds for forfeiture and/or repayment under this Section 5.4, and, in such event, the portion of the PSUs that shall be cancelled and the sums or amounts that shall be repaid. For purposes of the foregoing, you expressly and explicitly authorize the Corporation to issue instructions, on your behalf, to any brokerage firm and/or third party administrator engaged by the Corporation to hold the shares of Common Stock and other amounts acquired pursuant to the PSUs to re-convey, transfer or otherwise return such shares and/or other amounts to the Corporation.

    5.5    Governing Law and Choice of Forum. The Award Notice and these Terms and Conditions shall be construed and enforced in accordance with the laws of the State of New York, other than any choice of law provisions calling for the application of laws of another jurisdiction. For purposes of litigating any dispute that arises directly or indirectly from the relationship of the parties evidenced by this grant or these Terms and Conditions, the parties hereby submit to and consent to the exclusive jurisdiction of the State of New York and agree that such litigation shall be conducted only in the courts of New York County, New York, or the federal courts for the United States for the Southern District of New York, and no other courts, where this grant is made and/or to be performed and agree to such other choice of forum provisions as are included in the Plan.

5.6    Nature of Plan. By participating in the Plan, you acknowledge, understand and agree that:

(a)    The Plan is discretionary in nature and limited in duration, and may be amended, cancelled, or terminated by the Corporation, in its sole discretion, at any time.

(b)    The grant of PSUs under the Plan is a one-time benefit and does not create any contractual or other right to receive PSUs or benefits in lieu of such awards in the future. Future awards, if any, will be at the sole discretion of the Corporation, including, but not limited to, the form and timing of the award, the number of shares of Common Stock subject to the award, the vesting provisions applicable to the award and the purchase price (if any).

(c)    Your participation in the Plan is voluntary, and the value of your PSUs is an extraordinary item of compensation and is outside the scope of your employment (and your employment contract, if any). As such, your PSUs are not part of normal or expected compensation for purposes of calculating any severance, resignation, redundancy, dismissal, termination or end of service payments, bonuses, long-service awards, pension or retirement benefits, or similar payments.

(d)    No claim or entitlement to compensation or damages shall arise from forfeiture of the PSUs resulting from the termination of your employment or other service relationship (for any reason whatsoever, whether or not later found to be invalid or in breach of employment laws in the jurisdiction where you are employed or the terms of your employment agreement, if any). In consideration of the grant of the PSUs, you expressly agree not to institute any such claim against the Corporation, any of its Affiliates or your Employer.

    5.7    Data Privacy.By accepting the PSUs, you declare that you agree with the data processing practices described herein and consent to the collection, processing and use of your Personal Data (as defined below) by the Corporation and the transfer of your Personal Data to the recipients mentioned herein, including recipients located in countries which do not adduce an adequate level of protection from a European (or other non-U.S.) data protection law perspective, for the purposes described herein.

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(a)Declaration of Consent. You understand that you need to review the following information about the processing of your personal data by or on behalf of the Corporation, your Employer and/or any of its Affiliates, as described herein, and any other PSU grant materials (the “Personal Data”) and declare your consent. With regard to the processing of your Personal Data in connection with the Plan, you understand that the Corporation is the controller of the Personal Data.

(b)Data Processing and Legal Basis. The Corporation collects, uses and otherwise processes your Personal Data for the purposes of allocating shares and implementing, administering and managing the Plan. You understand that this Personal Data may include, without limitation, your name, home address and telephone number, email address, personal bank account details, date of birth, social insurance number, passport number or other identification number (e.g., resident registration number), salary, nationality, job title, any shares of Common Stock or directorships held in the Corporation or its Affiliates, details of all PSUs or any other entitlement to shares of Common Stock or equivalent benefits awarded, canceled, purchased, vested, unvested or outstanding in your favor. The Corporation’s legal basis for the processing of your Personal Data is your consent.

(c)Stock Plan Administration Service Providers. You understand that the Corporation may transfer your Personal Data, or parts thereof, to Fidelity Stock Plan Services LLC and certain of its affiliated companies (“Fidelity”), an independent service provider based in the United States which assists the Corporation with the implementation, administration and management of the Plan. In the future, the Corporation may select a different service provider and share your Personal Data with such different service provider that serves the Corporation in a similar manner. You understand and acknowledge that the Corporation’s service provider may open an account for you to receive and trade shares acquired under the Plan and that you will be asked to agree on separate terms and data processing practices with the service provider, which is a condition of your ability to participate in the Plan.

(d)International Data Transfers. You understand that the Corporation and, as of the date hereof, certain third parties assisting in the implementation, administration and management of the Plan, such as the Corporation’s service providers, are based in the United States. If you are located outside the United States, you understand and acknowledge that your country has enacted data privacy laws that are different from the laws of the United States. For example, the European Commission has issued only a limited adequacy finding with respect to the United States that applies solely if and to the extent that companies self-certify and remain self-certified under the EU/U.S. Privacy Shield program. Otherwise, transfers of personal data from the EU to the United States can be made on the basis of Standard Contractual Clauses approved by the European Commission or other appropriate safeguards permissible under the Applicable Laws. If you are located in the EU or EEA, the Corporation may receive, process and transfer your Personal Data onward to third-party service providers solely on the basis of appropriate data transfer agreements or other appropriate safeguards permissible under Applicable Laws. If applicable, you understand that you can ask for a copy of the appropriate data processing agreements underlying the transfer of your Personal Data by contacting your local human resources representative. The Corporation’s legal basis for the transfer of your Personal Data is your consent.

(e)Data Retention. You understand that the Corporation will use your Personal Data only as long as is necessary to implement, administer and manage your participation in the Plan, or to comply with Applicable Laws, including under tax and securities laws. In the latter case, you understand and acknowledge that the Corporation’s legal basis for the processing of your Personal Data would be compliance with the Applicable Laws or the pursuit by the Corporation of respective legitimate interests not outweighed by your interests, rights or freedoms. When the Corporation no longer needs your Personal Data for any of the above purposes, you understand the Corporation will remove it from its systems.

(f)Voluntariness and Consequences of Denial/Withdrawal of Consent. You understand that your participation in the Plan and your grant of consent is purely voluntary. You may deny or later withdraw your consent at any time, with future effect and for any or no reason. If you deny or later withdraw your consent, the Corporation can no longer offer you participation in the Plan or offer other awards to you or administer or maintain such awards and you would no longer be able to

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participate in the Plan. You further understand that denial or withdrawal of your consent would not affect your status or salary as an employee or your career and that you would merely forfeit the opportunities associated with the Plan.

(g)Data Subject Rights. You understand that data subject rights regarding the processing of personal data vary depending on the Applicable Laws and that, depending on where you are based and subject to the conditions set out in the Applicable Laws, you may have, without limitation, the rights to (i) inquire whether and what kind of Personal Data the Corporation holds about you and how it is processed, and to access or request copies of such Personal Data, (ii) request the correction or supplementation of Personal Data about you that is inaccurate, incomplete or out-of-date in light of the purposes underlying the processing, (iii) obtain the erasure of Personal Data no longer necessary for the purposes underlying the processing, processed based on withdrawn consent, processed for legitimate interests that, in the context of your objection, do not prove to be compelling, or processed in non-compliance with applicable legal requirements, (iv) request the Corporation to restrict the processing of your Personal Data in certain situations where you feel its processing is inappropriate, (v) object, in certain circumstances, to the processing of Personal Data for legitimate interests, and to (vi) request portability of your Personal Data that you have actively or passively provided to the Corporation (which does not include data derived or inferred from the collected data), where the processing of such Personal Data is based on consent or your employment or service contract and is carried out by automated means. In case of concerns, you understand that you may also have the right to lodge a complaint with the competent local data protection authority. Further, to receive clarification of, or to exercise any of your rights, you should contact your local human resources representative.

5.8    Insider Trading/Market Abuse Laws. You may be subject to insider trading restrictions and/or market abuse laws based on the exchange on which the shares of Common Stock are listed and in applicable jurisdictions including the United States and your country or your broker’s country, if different, which may affect your ability to accept, acquire, sell or otherwise dispose of shares of Common Stock, rights to shares of Common Stock (e.g., PSUs) or rights linked to the value of shares of Common Stock under the Plan during such times as you are considered to have “inside information” regarding the Corporation (as defined by the laws in the applicable jurisdictions). Local insider trading laws and regulations may prohibit the cancellation or amendment of orders you placed before you possessed inside information. Furthermore, you could be prohibited from (a) disclosing the inside information to any third party and (b) “tipping” third parties or causing them otherwise to buy or sell securities (third parties include fellow employees). Any restrictions under these laws or regulations are separate from and in addition to any restrictions that may be imposed under any applicable insider trading policy of the Corporation. You acknowledge that it is your responsibility to comply with any applicable restrictions, and you should speak to your personal advisor on this matter.

5.9    Electronic Delivery and Acceptance. The Corporation may, in its sole discretion, deliver any documents related to current or future participation in the Plan by electronic means. You hereby consent to receive such documents by electronic delivery and agree to participate in the Plan through an on-line or electronic system established and maintained by the Corporation or a third party designated by the Corporation.

5.10    Severability. The provisions of these Terms and Conditions are severable and if any one or more provisions are determined to be illegal or otherwise unenforceable, in whole or in part, the remaining provisions shall nevertheless be binding and enforceable. Alternatively, the Corporation, in its sole discretion, shall have the power and authority to revise or strike such provision to the minimum extent necessary to render it valid and enforceable to the full extent permitted under Applicable Laws.

    5.11    Liability for Breach. You shall indemnify the Corporation and hold it harmless from and against any and all damages or liabilities incurred by the Corporation (including liabilities for attorneys’ fees and disbursements) arising out of any breach by you of these Terms and Conditions, including, without limitation, any attempted transfer of PSUs in violation of Section 1.4 of these Terms and Conditions.

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5.12    Waiver. You acknowledge that a waiver by the Corporation of any provision of these Terms and Conditions shall not operate or be construed as a waiver of any other provision of these Terms and Conditions, or of any subsequent breach of these Terms and Conditions.

5.13    Addendum. The grant of your PSUs shall be subject to any special terms and conditions set forth in any Addendum to these Terms and Conditions (the “Addendum”) for your state of residence (and your state of employment, if different). If you relocate your residency or employment to one of the states included in the Addendum, the special terms and conditions for such state will apply to you, to the extent the Corporation determines that the application of such terms and conditions is necessary or advisable for legal or administrative reasons. The Addendum shall constitute part of the Terms and Conditions.

5.14    Additional Requirements. The Corporation reserves the right to impose other requirements on the PSUs, any payment made pursuant to the PSUs, and your participation in the Plan, to the extent the Corporation determines, in its sole discretion, that such other requirements are necessary or advisable for legal or administrative reasons. Such requirements may include (but are not limited to) requiring you to sign any agreements or undertakings that may be necessary to accomplish the foregoing.

****************************

12

Attachment A

Performance Goals

[Complete as appropriate.]

13

THE BANK OF NEW YORK MELLON CORPORATION

FORM OF ADDENDUM TO
TERMS AND CONDITIONS

OF PERFORMANCE SHARE UNITS

In addition to the terms of the Award Notice – Executive Committee General and the Terms and Conditions - Executive Committee General and as well as the terms of the Plan, the PSUs are subject to the following additional terms and conditions (the “Addendum”). All capitalized terms as contained in this Addendum shall have the same meaning as set forth in the Award Notice, the Terms and Conditions and the Plan. Pursuant to Section 5.13 of the Terms and Conditions, if you transfer your residence and/or employment to another location reflected in an Addendum at the time of transfer, the special terms and conditions for such location will apply to you to the extent the Corporation determines, in its sole discretion, that the application of such terms and conditions is necessary or advisable in order to comply with local law, rules and regulations, or to facilitate the operation and administration of the award of PSUs and the Plan (or the Corporation may establish alternative terms and conditions as may be necessary or advisable to accommodate your transfer).

CALIFORNIA

1.    Non-Solicitation of Clients, Contractors and Employees; Non-Competition. The following provision shall replace Section 3.2 of the Terms and Conditions in its entirety:

3.2    Non-Solicitation of Clients, Contractors and Employees; Non-Competition.

(a)    Non-Solicitation of Clients, Contractors and Employees. To protect the Corporation’s and its Affiliates’ trade secrets and for the good and valuable consideration offered pursuant to the Award Agreement, which is in excess of any consideration you are otherwise entitled to receive, you agree that until one (1) year from the Termination Date or, if later, the final vesting date set forth in the Award Notice (the “Restricted Period”), to the maximum extent permitted by Applicable Laws, you will not directly or indirectly use any trade secrets of the Corporation or its Affiliates to (i) solicit or induce or attempt to solicit or induce any current or prospective client of the Corporation or an Affiliate known to you, to initiate or continue a client relationship with you other than with the Corporation or Affiliate, or to terminate or reduce its client relationship with the Corporation or Affiliate, or (ii) solicit any employee or contractor to terminate or reduce their employment or engagement, whichever is applicable, with the Corporation or Affiliate. Even at the conclusion of the Restricted Period, you are still not permitted to use the Corporation’s or its Affiliates’ trade secrets for any purpose. During the Restricted Period, you agree to (i) advise any person or entity that seeks to employ you of the terms of these covenants; and (ii) immediately notify Human Resources equity administration if you are not in compliance with your obligations above.

(b)    Non-Competition. Intentionally Omitted.

MASSACHUSETTS

1.    Non-Competition. The following provision shall replace Section 3.2(b) of the Terms and Conditions in its entirety:

14

(b)    Non-Competition. Your PSUs, whether vested (but unsettled) or unvested, and including any PSUs resulting from dividend equivalent rights, shall be immediately forfeited if, after your separation from employment with the Corporation or its Affiliates by reason of your (i) Rule of 65 Retirement-Eligible Event, (ii) termination providing transition/separation pay prior to age 55, (iii) Rule of 60 Retirement-Eligible Event or (iv) termination providing transition/separation pay on or after age 55, as specified in Sections 2.2(b)(i), 2.2(b)(ii), 2.2(c) and 2.2(d) respectively, and before the end of the Restricted Period, you directly or indirectly (without the prior written consent of the Corporation), (i) associate (including as a director, officer, employee, partner, consultant, agent or advisor) with a Competitive Enterprise in a Restricted Territory, or (ii) transact business on behalf of a Competitive Enterprise in a Restricted Territory.  For purposes of the Award Agreement, “Competitive Enterprise” means any business enterprise that either (A) is a member of the Corporation’s competitive peer group as disclosed in the Corporation’s proxy statement that was most recently filed with the Securities and Exchange Commission preceding the Termination Date; or (B) is any other business enterprise for whom you would be performing services similar to those performed at the Corporation or any Affiliate within the twelve (12) months preceding the Termination Date.  For the purposes of the Award Agreement, “Restricted Territory” means all geographic areas in which you, during any time within the last 24 months preceding the end of your employment with the Corporation, provided services or had a material presence or influence, which given your current senior role in the Corporation shall be presumed to mean the entire world.

For the sake of clarity, the foregoing non-compete restriction does not prohibit you from being employed by the government or a not-for profit organization (i.e. an organization exempt from local and national tax laws).  In view of the limited scope of the non-compete obligation assumed under this Section, which does not prevent you from working in other entities that are not affected by it, you acknowledge and agree that: (i) the foregoing non-compete obligation is reasonable and necessary to protect the Corporation’s legitimate business interests including its confidential information and goodwill, and (ii) the continued vesting in your PSUs, including any PSUs resulting from dividend equivalent rights, following a Rule of 65 Retirement-Eligible Event, a Rule of 60 Retirement-Eligible Event or a termination providing transition/separation pay is fair and reasonable consideration for the foregoing non-compete obligation. During the Restricted Period, you further agree to (i) advise any person or entity that seeks to employ you of the terms of these covenants; and (ii) immediately notify Human Resources equity administration if you are not in compliance with your obligations above. You have seven business days from the date you electronically acknowledge and accept the terms of the Award Agreement to rescind your acceptance of the Award Agreement. You may rescind your acceptance of the Award Agreement by sending written notice to Human Resources equity administration at BNYMellonEquity@bnymellon.com.

15

EX-31.1

Exhibit 31.1

CERTIFICATION

I, Robin Vince, certify that:

1.I have reviewed this quarterly report on Form 10-Q of The Bank of New York Mellon Corporation (the “registrant”);

2.Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3.Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4.The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

a)Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b)Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c)Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d)Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5.The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

a)All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

b)Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: November 7, 2022

/s/ Robin Vince

Name: Robin Vince

Title: Chief Executive Officer

EX-31.2

Exhibit 31.2

CERTIFICATION

I, Emily Portney, certify that:

1.I have reviewed this quarterly report on Form 10-Q of The Bank of New York Mellon Corporation (the “registrant”);

2.Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3.Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4.The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

a)Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b)Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c)Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d)Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5.The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

a)All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

b)Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: November 7, 2022

/s/ Emily Portney

Name: Emily Portney

Title: Chief Financial Officer

EX-32.1

Exhibit 32.1

CERTIFICATION

Pursuant to 18 U.S.C. Section 1350, the undersigned officer of The Bank of New York Mellon Corporation (“BNY Mellon”), hereby certifies, to his knowledge, that BNY Mellon’s Quarterly Report on Form 10-Q for the quarter ended Sept. 30, 2022 (the “Report”) fully complies with the requirements of Section 13(a) or 15(d), as applicable, of the Securities Exchange Act of 1934 and that the information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of BNY Mellon.

Dated: November 7, 2022	/s/ Robin Vince
	Name:	Robin Vince
	Title:	Chief Executive Officer

The foregoing certification is being furnished solely pursuant to 18 U.S.C. Section 1350 and is not being filed as part of the Report or as a separate disclosure document.

EX-32.2

Exhibit 32.2

CERTIFICATION

Pursuant to 18 U.S.C. Section 1350, the undersigned officer of The Bank of New York Mellon Corporation (“BNY Mellon”), hereby certifies, to her knowledge, that BNY Mellon’s Quarterly Report on Form 10-Q for the quarter ended Sept. 30, 2022 (the “Report”) fully complies with the requirements of Section 13(a) or 15(d), as applicable, of the Securities Exchange Act of 1934 and that the information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of BNY Mellon.

Dated: November 7, 2022	/s/ Emily Portney
	Name:	Emily Portney
	Title:	Chief Financial Officer

The foregoing certification is being furnished solely pursuant to 18 U.S.C. Section 1350 and is not being filed as part of the Report or as a separate disclosure document.

XML

Cover	9 Months Ended
	Sep. 30, 2022 shares
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2022
Document Transition Report	false
Entity File Number	001-35651
Entity Registrant Name	THE BANK OF NEW YORK MELLON CORPORATION
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	13-2614959
Entity Address, Address Line One	240 Greenwich Street
Entity Address, City or Town	New York
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10286
City Area Code	212
Local Phone Number	495-1784
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding (shares)	808,279,949
Amendment Flag	false
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q3
Entity Central Index Key	0001390777
Current Fiscal Year End Date	--12-31
Common Stock, $0.01 par value
Entity Information [Line Items]
Title of 12(b) Security	Common Stock, $0.01 par value
Trading Symbol	BK
Security Exchange Name	NYSE
6.244% Fixed-to-Floating Rate Normal Preferred Capital Securities of Mellon Capital IV
Entity Information [Line Items]
Title of 12(b) Security	6.244% Fixed-to-Floating Rate Normal Preferred Capital Securities of Mellon Capital IV
Trading Symbol	BK/P
Security Exchange Name	NYSE

XML

Consolidated Income Statement (unaudited) - USD ($) shares in Thousands		3 Months Ended			9 Months Ended
		Sep. 30, 2022	Jun. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Fee and other revenue
Investment services fees		$ 2,157,000,000	$ 2,206,000,000	$ 2,091,000,000	$ 6,356,000,000	$ 6,223,000,000
Investment management and performance fees		800,000,000	833,000,000	913,000,000	2,516,000,000	2,692,000,000
Foreign exchange revenue		203,000,000	222,000,000	185,000,000	632,000,000	600,000,000
Financing-related fees		43,000,000	44,000,000	48,000,000	132,000,000	147,000,000
Distribution and servicing fees		33,000,000	34,000,000	28,000,000	97,000,000	84,000,000
Total fee revenue		3,236,000,000	3,339,000,000	3,265,000,000	9,733,000,000	9,746,000,000
Investment and other revenue		117,000,000	91,000,000	129,000,000	278,000,000	229,000,000
Total fee and other revenue		3,353,000,000	3,430,000,000	3,394,000,000	10,011,000,000	9,975,000,000
Net interest revenue
Interest revenue		1,984,000,000	1,159,000,000	693,000,000	3,921,000,000	2,116,000,000
Interest expense		1,058,000,000	335,000,000	52,000,000	1,473,000,000	175,000,000
Net interest revenue		926,000,000	824,000,000	641,000,000	2,448,000,000	1,941,000,000
Total revenue		4,279,000,000	4,254,000,000	4,035,000,000	12,459,000,000	11,916,000,000
Provision for credit losses		(30,000,000)	47,000,000	(45,000,000)	19,000,000	(214,000,000)
Noninterest expense
Staff		1,673,000,000	1,623,000,000	1,584,000,000	4,998,000,000	4,704,000,000
Software and equipment		421,000,000	405,000,000	372,000,000	1,225,000,000	1,099,000,000
Professional, legal and other purchased services		363,000,000	379,000,000	363,000,000	1,112,000,000	1,069,000,000
Sub-custodian and clearing		124,000,000	131,000,000	129,000,000	373,000,000	385,000,000
Net occupancy		124,000,000	125,000,000	120,000,000	371,000,000	365,000,000
Distribution and servicing		88,000,000	90,000,000	76,000,000	257,000,000	223,000,000
Bank assessment charges		35,000,000	37,000,000	34,000,000	107,000,000	103,000,000
Business development		34,000,000	43,000,000	22,000,000	107,000,000	63,000,000
Goodwill impairment		680,000,000	0	0	680,000,000	0
Amortization of intangible assets		17,000,000	17,000,000	19,000,000	51,000,000	63,000,000
Other		120,000,000	262,000,000	199,000,000	516,000,000	473,000,000
Total noninterest expense		3,679,000,000	3,112,000,000	2,918,000,000	9,797,000,000	8,547,000,000
Income
Income before income taxes		630,000,000	1,095,000,000	1,162,000,000	2,643,000,000	3,583,000,000
Provision for income taxes		242,000,000	231,000,000	219,000,000	626,000,000	681,000,000
Net income		388,000,000	864,000,000	943,000,000	2,017,000,000	2,902,000,000
Net loss (income) attributable to noncontrolling interests related to consolidated investment management funds		0	5,000,000	4,000,000	13,000,000	(6,000,000)
Net income applicable to shareholders of The Bank of New York Mellon Corporation		388,000,000	869,000,000	947,000,000	2,030,000,000	2,896,000,000
Preferred stock dividends		(69,000,000)	(34,000,000)	(66,000,000)	(177,000,000)	(166,000,000)
Net income applicable to common shareholders of The Bank of New York Mellon Corporation		319,000,000	835,000,000	881,000,000	1,853,000,000	2,730,000,000
Net income applicable to common shareholders of The Bank of New York Mellon Corporation used for the earnings per share calculation
Net income applicable to common shareholders of The Bank of New York Mellon Corporation		319,000,000	835,000,000	881,000,000	1,853,000,000	2,730,000,000
Less: Earnings allocated to participating securities		0	0	0	0	2,000,000
Net income applicable to common shareholders of The Bank of New York Mellon Corporation after required adjustment for the calculation of basic and diluted earnings per common share		$ 319,000,000	$ 835,000,000	$ 881,000,000	$ 1,853,000,000	$ 2,728,000,000
Average common shares and equivalents outstanding of The Bank of New York Mellon Corporation
Basic (shares)		811,304	810,903	844,088	810,703	865,374
Common stock equivalents (shares)		3,311	2,834	5,297	3,713	4,401
Less: Participating securities (shares)		(99)	(147)	(357)	(202)	(451)
Diluted (shares)		814,516	813,590	849,028	814,214	869,324
Anti-dilutive securities (shares)	[1]	3,306	4,112	517	3,294	739
Earnings per share applicable to common shareholders of The Bank of New York Mellon Corporation
Basic (usd per share)		$ 0.39	$ 1.03	$ 1.04	$ 2.29	$ 3.15
Diluted (usd per share)		$ 0.39	$ 1.03	$ 1.04	$ 2.28	$ 3.14

[1] Represents stock options, restricted stock, restricted stock units and participating securities outstanding but not included in the computation of diluted average common shares because their effect would be anti-dilutive.

XML

Consolidated Comprehensive Income Statement (unaudited) - USD ($) $ in Millions		3 Months Ended			9 Months Ended
		Sep. 30, 2022	Jun. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Statement of Comprehensive Income [Abstract]
Net income (loss)		$ 388	$ 864	$ 943	$ 2,017	$ 2,902
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments		(442)	(555)	(202)	(1,150)	(301)
Unrealized (loss) on assets available-for-sale:
Unrealized (loss) arising during the period		(908)	(882)	(150)	(3,321)	(776)
Reclassification adjustment		(1)	0	(2)	(4)	(3)
Total unrealized (loss) on assets available-for-sale		(909)	(882)	(152)	(3,325)	(779)
Defined benefit plans:
Amortization of prior service credit, net loss and initial obligation included in net periodic benefit cost		13	13	22	44	69
Total defined benefit plans		13	13	22	44	69
Net unrealized (loss) on cash flow hedges		(1)	(5)	(1)	(8)	(7)
Total other comprehensive (loss), net of tax	[1]	(1,339)	(1,429)	(333)	(4,439)	(1,018)
Total comprehensive (loss) income		(951)	(565)	610	(2,422)	1,884
Net loss (income) attributable to noncontrolling interests		0	5	4	13	(6)
Other comprehensive loss attributable to noncontrolling interests		19	3	0	25	0
Comprehensive (loss) income applicable to shareholders of The Bank of New York Mellon Corporation		$ (932)	$ (557)	$ 614	$ (2,384)	$ 1,878

[1] Other comprehensive (loss) attributable to The Bank of New York Mellon Corporation shareholders was $(1,320) million for the quarter ended Sept. 30, 2022, $(1,426) million for the quarter ended June 30, 2022, $(333) million for the quarter ended Sept. 30, 2021, $(4,414) million for the nine months ended Sept. 30, 2022 and $(1,018) million for the nine months ended Sept. 30, 2021.

XML

Consolidated Comprehensive Income Statement (unaudited) (Parenthetical) - USD ($) $ in Millions	3 Months Ended			9 Months Ended
	Sep. 30, 2022	Jun. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Statement of Comprehensive Income [Abstract]
Other comprehensive (loss)	$ (1,320)	$ (1,426)	$ (333)	$ (4,414)	$ (1,018)

XML

Consolidated Balance Sheet (unaudited) - USD ($) $ in Millions		Sep. 30, 2022		Dec. 31, 2021
Assets
Cash and due from banks, net of allowance for credit losses of $28 and $3		$ 4,707		$ 6,061
Interest-bearing deposits with the Federal Reserve and other central banks		107,427		102,467
Interest-bearing deposits with banks, net of allowance for credit losses of $2 and $2 (includes restricted of $4,893 and $3,822)		13,890		16,630
Federal funds sold and securities purchased under resale agreements		23,483		29,607
Securities:
Held-to-maturity, at amortized cost, net of allowance for credit losses of less than $1 and less than $1 (fair value of $50,485 and $56,775)		57,257		56,866
Available-for-sale, at fair value (amortized cost of $93,619 and $100,774, net of allowance for credit losses of $9 and $10)		86,924		101,839
Total securities		144,181		158,705
Trading assets		12,650		16,577
Loans		69,829		67,787
Allowance for credit losses		(164)		(196)
Net loans		69,665		67,591
Premises and equipment		3,311		3,431
Accrued interest receivable		723		457
Goodwill		16,412		17,512
Intangible assets		2,902		2,991
Other assets, net of allowance for credit losses on accounts receivable of $5 and $4 (includes $1,599 and $1,187, at fair value)		28,602		22,409
Total assets		427,953		444,438
Deposits:
Noninterest-bearing (principally U.S. offices)		88,275		93,695
Interest-bearing deposits in U.S. offices		112,486		120,903
Interest-bearing deposits in non-U.S. offices		101,228		105,096
Total deposits		301,989		319,694
Federal funds purchased and securities sold under repurchase agreements		11,339		11,566
Trading liabilities		7,494		5,469
Payables to customers and broker-dealers		23,741		25,150
Other borrowed funds		357		749
Accrued taxes and other expenses		5,316		5,767
Other liabilities (including allowance for credit losses on lending-related commitments of $72 and $45, also includes $26 and $496, at fair value)		10,001		6,721
Long-term debt		27,820		25,931
Total liabilities		388,057		401,047
Temporary equity
Redeemable noncontrolling interests		152		161
Permanent equity
Preferred stock – par value $0.01 per share; authorized 100,000,000 shares; issued 48,826 and 48,826 shares		4,838		4,838
Common stock – par value $0.01 per share; authorized 3,500,000,000 shares; issued 1,395,525,936 and 1,389,397,912 shares		14		14
Additional paid-in capital		28,374		28,128
Retained earnings		37,660		36,667
Accumulated other comprehensive loss, net of tax		(6,627)		(2,213)
Less: Treasury stock of 587,245,987 and 585,252,546 common shares, at cost		(24,522)		(24,400)
Total The Bank of New York Mellon Corporation shareholders’ equity		39,737		43,034
Nonredeemable noncontrolling interests of consolidated investment management funds		7		196
Total permanent equity	[2]	39,744	[1]	43,230
Total liabilities, temporary equity and permanent equity		$ 427,953		$ 444,438

[1] Includes total The Bank of New York Mellon Corporation common shareholders’ equity of $36,146 million at June 30, 2022 and $34,899 million at Sept. 30, 2022.

[2] Includes total The Bank of New York Mellon Corporation common shareholders’ equity of $38,196 million at Dec. 31, 2021 and $34,899 million at Sept. 30, 2022.

XML

Consolidated Balance Sheet (unaudited) (Parenthetical) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Cash and due from banks, allowance for credit loss	$ 28	$ 3
Interest-bearing deposits with banks, allowance for credit loss	2	2
Restricted cash	4,893	3,822
Debt securities, held-to-maturity, allowance for credit loss (less than)	1	1
Held-to-maturity, fair value	50,485	56,775
Debt securities, available-for-sale, amortized cost	93,619	100,774
Debt securities, available-for-sale, allowance for credit loss	9	10
Other assets, allowance for credit loss on accounts receivable	5	4
Other assets	1,599	1,187
Allowance for credit losses on lending related commitments	72	45
Other liabilities, fair value	$ 26	$ 496
Preferred stock, par value (usd per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (shares)	100,000,000	100,000,000
Preferred stock, issued (shares)	48,826	48,826
Common stock, par value (usd per share)	$ 0.01	$ 0.01
Common stock, authorized (shares)	3,500,000,000	3,500,000,000
Common stock, issued (shares)	1,395,525,936	1,389,397,912
Treasury stock, common shares (shares)	587,245,987	585,252,546

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Consolidated Statement of Cash Flows (unaudited) - USD ($)	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Operating activities
Net income	$ 2,017,000,000	$ 2,902,000,000
Net loss (income) attributable to noncontrolling interests	13,000,000	(6,000,000)
Net income applicable to shareholders of The Bank of New York Mellon Corporation	2,030,000,000	2,896,000,000
Adjustments to reconcile net income to net cash provided by (used for) operating activities:
Provision for credit losses	19,000,000	(214,000,000)
Pension plan contributions	(2,000,000)	(5,000,000)
Depreciation and amortization	1,255,000,000	1,406,000,000
Goodwill impairment	680,000,000	0
Deferred tax (benefit)	255,000,000	255,000,000
Net securities (gains)	(5,000,000)	(4,000,000)
Change in trading assets and liabilities	6,945,000,000	(3,466,000,000)
Change in accruals and other, net	967,000,000	(1,159,000,000)
Net cash provided by (used for) operating activities	12,144,000,000	(291,000,000)
Investing activities
Change in interest-bearing deposits with banks	2,937,000,000	(2,005,000,000)
Change in interest-bearing deposits with the Federal Reserve and other central banks	(12,186,000,000)	11,450,000,000
Purchases of securities held-to-maturity	(2,144,000,000)	(7,587,000,000)
Paydowns of securities held-to-maturity	5,851,000,000	8,601,000,000
Maturities of securities held-to-maturity	1,423,000,000	1,242,000,000
Purchases of securities available-for-sale	(26,007,000,000)	(38,201,000,000)
Sales of securities available-for-sale	11,303,000,000	8,846,000,000
Paydowns of securities available-for-sale	4,205,000,000	10,132,000,000
Maturities of securities available-for-sale	8,392,000,000	13,396,000,000
Net change in loans	(2,517,000,000)	(7,823,000,000)
Sales of loans and other real estate	0	1,000,000
Change in federal funds sold and securities purchased under resale agreements	6,109,000,000	2,343,000,000
Net change in seed capital investments	24,000,000	(83,000,000)
Purchases of premises and equipment/capitalized software	(989,000,000)	(841,000,000)
Proceeds from the sale of premises and equipment	45,000,000	34,000,000
Dispositions, net of cash	51,000,000	8,000,000
Other, net	(1,747,000,000)	228,000,000
Net cash (used for) investing activities	(5,250,000,000)	(259,000,000)
Financing activities
Change in deposits	(8,202,000,000)	4,805,000,000
Change in federal funds purchased and securities sold under repurchase agreements	(129,000,000)	806,000,000
Change in payables to customers and broker-dealers	(1,108,000,000)	954,000,000
Change in other borrowed funds	(347,000,000)	432,000,000
Net proceeds from the issuance of long-term debt	6,684,000,000	3,689,000,000
Repayments of long-term debt	(3,250,000,000)	(4,250,000,000)
Proceeds from the exercise of stock options	9,000,000	45,000,000
Issuance of common stock	10,000,000	10,000,000
Treasury stock acquired	(122,000,000)	(3,318,000,000)
Common cash dividends paid	(860,000,000)	(846,000,000)
Preferred cash dividends paid	(177,000,000)	(166,000,000)
Other, net	(12,000,000)	4,000,000
Net cash (used for) provided by financing activities	(7,504,000,000)	2,165,000,000
Effect of exchange rate changes on cash	327,000,000	(81,000,000)
Change in cash and due from banks and restricted cash
Change in cash and due from banks and restricted cash	(283,000,000)	1,534,000,000
Cash and due from banks and restricted cash at beginning of period	9,883,000,000	9,419,000,000
Cash and due from banks and restricted cash at end of period	9,600,000,000	10,953,000,000
Cash and due from banks at end of period (unrestricted cash)	4,707,000,000	6,752,000,000
Restricted cash at end of period	4,893,000,000	4,201,000,000
Cash and due from banks and restricted cash at end of period	9,600,000,000	10,953,000,000
Supplemental disclosures
Interest paid	1,355,000,000	226,000,000
Income taxes paid	319,000,000	376,000,000
Income taxes refunded	$ 7,000,000	$ 36,000,000

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Consolidated Statement of Changes in Equity (unaudited) - USD ($) $ in Millions		Total		Preferred stock	Common stock	Additional paid-in capital	Retained earnings	Accumulated other comprehensive (loss), net of tax	Treasury stock	Nonredeemable noncontrolling interests of consolidated investment management funds	Redeemable non- controlling interests/ temporary equity
Beginning Balance at Dec. 31, 2020		$ 45,944	[1]	$ 4,541	$ 14	$ 27,823	$ 34,241	$ (985)	$ (19,833)	$ 143	$ 176
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares issued to shareholders of noncontrolling interests											37
Redemption of subsidiary shares from noncontrolling interests											(52)
Other net changes in noncontrolling interests		100				(24)				124	17
Net income (loss)		2,902					2,896			6
Other comprehensive (loss)		(1,018)						(1,018)
Other comprehensive (loss)		0
Dividends:
Common stock	[2]	(846)					(846)
Preferred stock		(166)					(166)
Repurchase of common stock		(3,318)							(3,318)
Common stock issued under employee benefit plans		14				14
Stock awards and options exercised		262				262
Ending Balance at Sep. 30, 2021		43,874	[1],[3]	4,541	14	28,075	36,125	(2,003)	(23,151)	273	178
Beginning Balance at Jun. 30, 2021		45,625	[3]	4,541	14	28,006	35,540	(1,670)	(21,150)	344	169
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares issued to shareholders of noncontrolling interests											8
Other net changes in noncontrolling interests		(67)								(67)	1
Net income (loss)		943					947			(4)
Other comprehensive (loss)		(333)						(333)
Other comprehensive (loss)		0
Dividends:
Common stock	[4]	(296)					(296)
Preferred stock		(66)					(66)
Repurchase of common stock		(2,001)							(2,001)
Common stock issued under employee benefit plans		4				4
Stock awards and options exercised		65				65
Ending Balance at Sep. 30, 2021		43,874	[1],[3]	4,541	14	28,075	36,125	(2,003)	(23,151)	273	178
Beginning Balance at Dec. 31, 2021		43,230	[5]	4,838	14	28,128	36,667	(2,213)	(24,400)	196	161
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares issued to shareholders of noncontrolling interests											26
Redemption of subsidiary shares from noncontrolling interests											(15)
Other net changes in noncontrolling interests		(179)				(3)				(176)	5
Net income (loss)		2,017					2,030			(13)
Other comprehensive (loss)		(4,414)						(4,414)
Other comprehensive (loss)		(25)									(25)
Dividends:
Common stock	[6]	(860)					(860)
Preferred stock		(177)					(177)
Repurchase of common stock		(122)							(122)
Common stock issued under employee benefit plans		15				15
Stock awards and options exercised		234				234
Ending Balance at Sep. 30, 2022		39,744	[5],[7]	4,838	14	28,374	37,660	(6,627)	(24,522)	7	152
Beginning Balance at Mar. 31, 2022		41,997	[8]	4,838	14	28,258	37,088	(3,881)	(24,518)	198	155
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares issued to shareholders of noncontrolling interests											2
Other net changes in noncontrolling interests		(186)								(186)
Net income (loss)		864					869			(5)
Other comprehensive (loss)		(1,426)						(1,426)
Other comprehensive (loss)		(3)									(3)
Dividends:
Common stock	[9]	(279)					(279)
Preferred stock		(34)					(34)
Preferred stock		(34)
Repurchase of common stock		(3)							(3)
Common stock issued under employee benefit plans		5				5
Stock awards and options exercised		53				53
Ending Balance at Jun. 30, 2022		40,991	[7],[8]	4,838	14	28,316	37,644	(5,307)	(24,521)	7	154
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares issued to shareholders of noncontrolling interests											17
Redemption of subsidiary shares from noncontrolling interests											(1)
Other net changes in noncontrolling interests		2				2					1
Net income (loss)		388					388
Other comprehensive (loss)		(1,320)						(1,320)
Other comprehensive (loss)		(19)									(19)
Dividends:
Common stock	[10]	(303)					(303)
Preferred stock		(69)					(69)
Repurchase of common stock		(1)							(1)
Common stock issued under employee benefit plans		5				5
Stock awards and options exercised		51				51
Ending Balance at Sep. 30, 2022		$ 39,744	[5],[7]	$ 4,838	$ 14	$ 28,374	$ 37,660	$ (6,627)	$ (24,522)	$ 7	$ 152

[1] Includes total The Bank of New York Mellon Corporation common shareholders’ equity of $41,260 million at Dec. 31, 2020 and $39,060 million at Sept. 30, 2021.

[2] Includes dividend equivalents on share-based awards.

[3] Includes total The Bank of New York Mellon Corporation common shareholders’ equity of $40,740 million at June 30, 2021 and $39,060 million at Sept. 30, 2021.

[4] Includes dividend-equivalents on share-based awards.

[5] Includes total The Bank of New York Mellon Corporation common shareholders’ equity of $38,196 million at Dec. 31, 2021 and $34,899 million at Sept. 30, 2022.

[6] Includes dividend equivalents on share-based awards.

[7] Includes total The Bank of New York Mellon Corporation common shareholders’ equity of $36,146 million at June 30, 2022 and $34,899 million at Sept. 30, 2022.

[8] Includes total The Bank of New York Mellon Corporation common shareholders’ equity of $36,961 million at March 31, 2022 and $36,146 million at June 30, 2022.

[9] Includes dividend-equivalents on share-based awards.

[10] Includes dividend-equivalents on share-based awards.

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Consolidated Statement of Changes in Equity (unaudited) (Parenthetical) - USD ($) $ in Millions	3 Months Ended			9 Months Ended
	Sep. 30, 2022	Jun. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Mar. 31, 2022	Dec. 31, 2021	Jun. 30, 2021	Dec. 31, 2020
Dividends on common stock, cash paid (usd per share)	$ 0.37	$ 0.34	$ 0.34	$ 1.05	$ 0.96
The Bank of New York Mellon Corporation shareholders’ equity	$ 39,737			$ 39,737			$ 43,034
Common stock
The Bank of New York Mellon Corporation shareholders’ equity	$ 34,899	$ 36,146	$ 39,060	$ 34,899	$ 39,060	$ 36,961	$ 38,196	$ 40,740	$ 41,260

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Basis of presentation

9 Months Ended

Sep. 30, 2022

Accounting Policies [Abstract]

Basis of presentation

Basis of presentation

In this Quarterly Report on Form 10-Q, references to “our,” “we,” “us,” “BNY Mellon,” the “Company” and similar terms refer to The Bank of New York Mellon Corporation and its consolidated subsidiaries. The term “Parent” refers to The Bank of New York Mellon Corporation but not to its subsidiaries.

Basis of presentation

The accounting and financial reporting policies of BNY Mellon, a global financial services company, conform to U.S. generally accepted accounting principles (“GAAP”) and prevailing industry practices. For information on our significant accounting and reporting policies, see Note 1 of the Notes to Consolidated Financial Statements in our Annual Report on Form 10-K for the year ended Dec. 31, 2021 (the “2021 Annual Report”).

The accompanying consolidated financial statements are unaudited. In the opinion of management, all adjustments necessary, consisting of normal recurring adjustments, for a fair presentation of financial position, results of operations and cash flows for the periods presented have been made. These financial statements should be read in conjunction with our Consolidated Financial Statements included in our 2021 Annual Report. Certain additional immaterial reclassifications have been made to prior periods to place them on a basis comparable with the current period presentation.

Use of estimates

The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates based upon assumptions about future economic and market conditions which affect reported amounts and related disclosures in our financial statements. Although our current estimates contemplate current conditions and how we expect them to change in the future, it is reasonably possible that actual conditions could be worse than anticipated in those estimates, which could materially affect our results of operations and financial condition.

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New accounting guidance

9 Months Ended

Sep. 30, 2022

Accounting Policies [Abstract]

New accounting guidance

New accounting guidance

Staff Accounting Bulletin No. 121

In March 2022, the SEC staff released Staff Accounting Bulletin No. 121 (“SAB 121”). SAB 121

expresses the staff’s views regarding the accounting for entities that have obligations to safeguard “crypto-assets” held for their platform users. SAB 121 provides that these entities should present a liability and corresponding asset in respect of the crypto-assets safeguarded for their platform users, with the liability and asset measured at the fair value of the crypto-assets. This differs from the accounting treatment of non-crypto-assets held in custody, which do not result in assets recorded on a custodian’s balance sheet. We adopted the guidance in the third quarter of 2022 and recorded a de minimis asset and liability related to digital assets we safeguard.

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Acquisitions and dispositions

9 Months Ended

Sep. 30, 2022

Business Combination and Asset Acquisition [Abstract]

Acquisitions and dispositions

Acquisitions and dispositions

We sometimes structure our acquisitions with both an initial payment and later contingent payments tied to post-closing revenue or income growth. There were no contingent payments in the first nine months of 2022.

At Sept. 30, 2022, we were potentially obligated to pay additional consideration which, using reasonable assumptions and estimates, could range from $15 million to $45 million over the next three years.

Goodwill and intangible assets related to acquisitions completed in 2021 totaled $99 million and $70 million, respectively. See Note 3 of the Notes to Consolidated Financial Statements in our 2021 Annual Report for information related to the 2021 acquisitions.

Transaction in 2022

On Aug. 1, 2022, BNY Mellon completed the sale of HedgeMark Advisors, LLC (“HedgeMark”), and recorded a $37 million pre-tax gain. As part of the sale, BNY Mellon received an equity interest in the acquiring firm. In addition, goodwill related to HedgeMark of $13 million was removed from the consolidated balance sheet as result of this sale.

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Securities

9 Months Ended

Sep. 30, 2022

Securities [Abstract]

Securities

SecuritiesThe following tables present the amortized cost, the gross unrealized gains and losses and the fair value of securities at Sept. 30, 2022 and Dec. 31, 2021.

Securities at Sept. 30, 2022			Gross unrealized				Fair value
	Amortized cost
(in millions)			Gains		Losses
Available-for-sale:
U.S. Treasury	$	30,902	$	103	$	2,849	$	28,156
Sovereign debt/sovereign guaranteed	10,906		3		574		10,335
Agency residential mortgage-backed securities (“RMBS”)	8,732		119		486		8,365
Agency commercial mortgage-backed securities (“MBS”)	8,723		95		718		8,100
Supranational	8,022		3		426		7,599
Foreign covered bonds	5,546		2		268		5,280
Collateralized loan obligations (“CLOs”)	5,425		—		183		5,242
Non-agency commercial MBS	3,270		—		377		2,893
Foreign government agencies	2,449		—		134		2,315
Non-agency RMBS	2,276		50		213		2,113
U.S. government agencies	2,177		55		235		1,997
State and political subdivisions	2,187		—		321		1,866
Other asset-backed securities (“ABS”)	1,594		—		129		1,465
Corporate bonds	1,409		—		212		1,197
Other debt securities	1		—		—		1
Total securities available-for-sale (a)(b)	$	93,619	$	430	$	7,125	$	86,924
Held-to-maturity:
Agency RMBS	$	35,349	$	1	$	4,679	$	30,671
U.S. Treasury	10,715		—		966		9,749
Agency commercial MBS	4,117		—		428		3,689
U.S. government agencies	4,209		—		558		3,651
Sovereign debt/sovereign guaranteed	1,374		—		69		1,305
CLOs	983		—		44		939
Supranational	407		—		23		384
Foreign government agencies	60		—		4		56
Non-agency RMBS	30		1		1		30
State and political subdivisions	13		—		2		11
Total securities held-to-maturity (a)	$	57,257	$	2	$	6,774	$	50,485
Total securities	$	150,876	$	432	$	13,899	$	137,409

(a)    The amortized cost of available-for-sale and held-to-maturity securities are net of the allowance for credit loss of $9 million and less than $1 million, respectively. The allowance for credit loss related to available-for-sale securities primarily relates to CLOs.

(b)    Includes gross unrealized gains of $373 million and gross unrealized losses of $188 million recorded in accumulated other comprehensive income related to securities that were transferred from available-for-sale to held-to-maturity. The unrealized gains primarily relate to agency RMBS, U.S. Treasury securities and agency commercial MBS. The unrealized losses primarily relate to agency RMBS and U.S. Treasury securities. The unrealized gains and losses will be amortized into net interest revenue over the contractual lives of the securities.

Securities at Dec. 31, 2021			Gross unrealized
	Amortized cost						Fair value
(in millions)			Gains		Losses
Available-for-sale:
U.S. Treasury	$	28,966	$	771	$	328	$	29,409
Agency RMBS	14,333		270		73		14,530
Sovereign debt/sovereign guaranteed	13,367		79		67		13,379
Agency commercial MBS	8,102		345		42		8,405
Supranational	7,599		24		50		7,573
Foreign covered bonds	6,236		25		23		6,238
CLOs	4,441		3		5		4,439
Non-agency commercial MBS	3,083		65		23		3,125
Non-agency RMBS	2,641		132		25		2,748
Foreign government agencies	2,694		9		17		2,686
U.S. government agencies	2,464		99		27		2,536
State and political subdivisions	2,543		11		40		2,514
Other ABS	2,205		7		22		2,190
Corporate bonds	2,099		19		52		2,066
Other debt securities	1		—		—		1
Total securities available-for-sale (a)(b)	$	100,774	$	1,859	$	794	$	101,839
Held-to-maturity:
Agency RMBS	$	36,167	$	428	$	388	$	36,207
U.S. Treasury	11,617		36		103		11,550
Agency commercial MBS	4,068		41		52		4,057
U.S. government agencies	2,998		—		71		2,927
CLOs	983		—		1		982
Sovereign debt/sovereign guaranteed	922		18		2		938
Supranational	54		—		—		54
Non-agency RMBS	43		2		—		45
State and political subdivisions	14		1		—		15
Total securities held-to-maturity	$	56,866	$	526	$	617	$	56,775
Total securities	$	157,640	$	2,385	$	1,411	$	158,614

(a)    The amortized cost of available-for-sale securities is net of the allowance for credit loss of $10 million. The allowance for credit loss primarily relates to CLOs.

(b)    Includes gross unrealized gains of $455 million and gross unrealized losses of $75 million recorded in accumulated other comprehensive income related to securities that were transferred from available-for-sale to held-to-maturity. The unrealized gains primarily relate to U.S. Treasury securities, agency RMBS and agency commercial MBS. The unrealized losses primarily relate to U.S. Treasury securities and agency RMBS. The unrealized gains and losses will be amortized into net interest revenue over the contractual lives of the securities.

The following table presents the realized gains and losses, on a gross basis.

Net securities gains (losses)
(in millions)	3Q22		2Q22		3Q21		YTD22		YTD21
Realized gross gains	$	9	$	7	$	3	$	89	$	21
Realized gross losses	(8)		(7)		(1)		(84)		(17)
Total net securities gains	$	1	$	—	$	2	$	5	$	4

The following table presents pre-tax net securities gains (losses) by type.

Net securities gains (losses)
(in millions)	3Q22		2Q22		3Q21		YTD22		YTD21
Non-agency RMBS	$	—	$	—	$	—	$	49	$	2
U.S. Treasury	—		1		—		12		(4)
State and political subdivisions	—		—		—		(13)		—
Corporate bonds	—		(4)		—		(51)		—
Other	1		3		2		8		6
Total net securities gains	$	1	$	—	$	2	$	5	$	4

In the second quarter of 2022, agency RMBS and agency commercial MBS, with an aggregate amortized cost of $975 million and fair value of $906 million, were transferred from available-for-sale securities to held-to-maturity securities.

In the first quarter of 2022, agency RMBS, U.S. government agencies and agency commercial MBS, with an aggregate amortized cost of $5.3 billion and fair value of $5.2 billion, were transferred from available-for-sale securities to held-to-maturity securities.

The above transfers reduce the impact of changes in interest rates on accumulated other comprehensive income.

Allowance for credit losses – Securities

The allowance for credit losses related to securities was $9 million at Sept. 30, 2022 and $10 million at Dec. 31, 2021, and primarily relates to the available-for-sale CLO portfolio.

Credit quality indicators – Securities

At Sept. 30, 2022, the gross unrealized losses on the securities portfolio were primarily attributable to an increase in interest rates from the date of purchase, and for certain securities that were transferred from available-for-sale to held-to-maturity, an increase in interest rates through the date they were transferred. Specifically, $188 million of the unrealized losses at Sept. 30, 2022 and $75 million at Dec. 31, 2021 reflected in the tables below relate to certain securities that were previously transferred from available-for-sale to held-to-maturity. The unrealized losses will be amortized into net interest revenue over the contractual lives of the securities. The transfer created a new cost basis for the securities. As a result, if these securities have experienced unrealized losses since the date of transfer, the corresponding unrealized losses would be reflected in the held-to-maturity securities portfolio in the following tables. We do not intend to sell these securities, and it is not more likely than not that we will have to sell these securities.

The following tables show the aggregate fair value of available-for-sale securities with a continuous unrealized loss position for less than 12 months and those that have been in a continuous unrealized loss position for 12 months or more without an allowance for credit losses.

Available-for-sale securities in an unrealized loss position without an allowance for credit losses at Sept. 30, 2022	Less than 12 months				12 months or more				Total
	Fair value		Unrealized losses		Fair value		Unrealized losses		Fair value		Unrealized losses
(in millions)
U.S. Treasury	$	22,678	$	1,942	$	5,479	$	907	$	28,157	$	2,849
Sovereign debt/sovereign guaranteed	7,361		334		1,738		240		9,099		574
Agency RMBS	7,912		416		384		70		8,296		486
Agency commercial MBS	6,602		518		1,410		200		8,012		718
Supranational	4,590		214		1,491		212		6,081		426
CLOs	4,815		164		324		15		5,139		179
Foreign covered bonds	3,657		166		945		102		4,602		268
Non-agency commercial MBS	2,249		259		594		118		2,843		377
Foreign government agencies	1,700		68		615		66		2,315		134
Non-agency RMBS	1,058		82		804		131		1,862		213
State and political subdivisions	757		128		991		193		1,748		321
U.S. government agencies	1,515		197		206		38		1,721		235
Other ABS	925		75		505		54		1,430		129
Corporate bonds	521		39		665		173		1,186		212
Total securities available-for-sale (a)	$	66,340	$	4,602	$	16,151	$	2,519	$	82,491	$	7,121

(a)    Includes $126 million gross unrealized losses for less than 12 months and $62 million of gross unrealized losses for 12 months or more recorded in accumulated other comprehensive income related to securities that were transferred from available-for-sale to held-to-maturity. The unrealized losses are primarily related to agency RMBS and U.S. Treasury securities and will be amortized into net interest revenue over the contractual lives of the securities.

Available-for-sale securities in an unrealized loss position without an allowance for credit losses at Dec. 31, 2021	Less than 12 months				12 months or more				Total
	Fair value		Unrealized losses		Fair value		Unrealized losses		Fair value		Unrealized losses
(in millions)
U.S. Treasury	$	16,855	$	235	$	1,944	$	93	$	18,799	$	328
Sovereign debt/sovereign guaranteed	6,040		66		58		1		6,098		67
Agency RMBS	4,089		44		457		29		4,546		73
Supranational	3,093		44		305		6		3,398		50
Agency commercial MBS	2,233		39		585		3		2,818		42
Foreign covered bonds	2,694		23		—		—		2,694		23
CLOs	1,808		3		318		2		2,126		5
Non-agency RMBS	1,573		20		345		5		1,918		25
State and political subdivisions	1,848		40		13		—		1,861		40
U.S. government agencies	1,780		27		—		—		1,780		27
Other ABS	1,383		20		201		2		1,584		22
Foreign government agencies	1,446		17		15		—		1,461		17
Corporate bonds	1,247		42		198		10		1,445		52
Non-agency commercial MBS	947		16		222		7		1,169		23
Total securities available-for-sale (a)	$	47,036	$	636	$	4,661	$	158	$	51,697	$	794

(a)    Includes $47 million of gross unrealized losses for less than 12 months and $28 million of gross unrealized losses for 12 months or more recorded in accumulated other comprehensive income related to securities that were transferred from available-for-sale to held-to-maturity. The unrealized losses are primarily related to U.S. Treasury securities and agency RMBS and will be amortized into net interest revenue over the contractual lives of the securities.

The following tables show the credit quality of the held-to-maturity securities. We have included certain credit ratings information because the information can indicate the degree of credit risk to which we are exposed. Significant changes in ratings classifications could indicate increased credit risk for us and could be accompanied by an increase in the allowance for credit losses and/or a reduction in the fair value of our securities portfolio.

Held-to-maturity securities portfolio at Sept. 30, 2022					Ratings (a)
			Net unrealized gain (loss)								BB+ and lower
(dollars in millions)	Amortized cost				AAA/ AA-		A+/ A-		BBB+/ BBB-				Not rated
Agency RMBS	$	35,349	$	(4,678)	100	%	—	%	—	%	—	%	—	%
U.S. Treasury	10,715		(966)		100		—		—		—		—
Agency commercial MBS	4,117		(428)		100		—		—		—		—
U.S. government agencies	4,209		(558)		100		—		—		—		—
Sovereign debt/sovereign guaranteed (b)	1,374		(69)		100		—		—		—		—
CLOs	983		(44)		100		—		—		—		—
Supranational	407		(23)		100		—		—		—		—
Foreign government agencies	60		(4)		100		—		—		—		—
Non-agency RMBS	30		—		22		58		2		17		1
State and political subdivisions	13		(2)		2		2		3		—		93
Total held-to-maturity securities	$	57,257	$	(6,772)	100	%	—	%	—	%	—	%	—	%

(a)    Represents ratings by Standard & Poor’s (“S&P”) or the equivalent.

(b)    Primarily consists of exposure to Germany, France and UK.

Held-to-maturity securities portfolio at Dec. 31, 2021					Ratings (a)
			Net unrealized gain (loss)								BB+ and lower
(dollars in millions)	Amortized cost				AAA/ AA-		A+/ A-		BBB+/ BBB-				Not rated
Agency RMBS	$	36,167	$	40	100	%	—	%	—	%	—	%	—	%
U.S. Treasury	11,617		(67)		100		—		—		—		—
Agency commercial MBS	4,068		(11)		100		—		—		—		—
U.S. government agencies	2,998		(71)		100		—		—		—		—
CLOs	983		(1)		100		—		—		—		—
Sovereign debt/sovereign guaranteed (b)	922		16		100		—		—		—		—
Supranational	54		—		100		—		—		—		—
Non-agency RMBS	43		2		23		59		2		15		1
State and political subdivisions	14		1		5		2		5		—		88
Total held-to-maturity securities	$	56,866	$	(91)	100	%	—	%	—	%	—	%	—	%

(a)    Represents ratings by S&P or the equivalent.

(b)    Primarily consists of exposure to France, UK and Germany.

Maturity distribution

The following table shows the maturity distribution by carrying amount and yield (on a tax equivalent basis) of our securities portfolio.

Maturity distribution and yields on securities at Sept. 30, 2022
	Within 1 year				1-5 years				5-10 years				After 10 years				Total
(dollars in millions)	Amount		Yield (a)		Amount		Yield (a)		Amount		Yield (a)		Amount		Yield (a)		Amount		Yield (a)
Available-for-sale:
U.S. Treasury	$	4,837	1.87	%	$	13,970	0.93	%	$	7,324	1.25	%	$	2,025	2.92	%	$	28,156	1.32	%
Sovereign debt/sovereign guaranteed	3,846		1.82		5,734		1.13		710		0.42		45		2.65		10,335		1.32
Supranational	1,303		1.21		4,745		1.90		1,536		2.26		15		(0.09)		7,599		1.86
Foreign covered bonds	1,131		1.66		3,619		1.64		530		0.18		—		—		5,280		1.48
Foreign government agencies	540		1.03		1,743		1.49		32		0.16		—		—		2,315		1.36
U.S. government agencies	—		—		711		2.52		1,122		2.41		164		2.54		1,997		2.46
State and political subdivisions	119		3.98		688		1.50		889		1.62		170		2.41		1,866		1.79
Corporate bonds	82		2.40		338		2.75		757		1.61		20		2.01		1,197		1.95
Other debt securities	—		—		—		—		—		—		1		3.60		1		3.60
Mortgage-backed securities:
Agency RMBS																	8,365		3.10
Non-agency RMBS																	2,113		3.32
Agency commercial MBS																	8,100		2.60
Non-agency commercial MBS																	2,893		2.81
CLOs																	5,242		3.72
Other ABS																	1,465		1.94
Total securities available-for-sale	$	11,858	1.75	%	$	31,548	1.29	%	$	12,900	1.41	%	$	2,440	2.82	%	$	86,924	1.96	%
Held-to-maturity:
U.S. Treasury	$	1,464	1.79	%	$	7,292	1.25	%	$	1,959	1.16	%	$	—	—	%	$	10,715	1.31	%
U.S. government agencies	—		—		2,309		1.40		1,639		1.56		261		1.90		4,209		1.49
Sovereign debt/sovereign guaranteed	132		0.16		1,133		0.88		109		0.95		—		—		1,374		0.82
Supranational	45		0.54		362		1.01		—		—		—		—		407		0.96
Foreign government agencies	—		—		60		0.79		—		—		—		—		60		0.79
State and political subdivisions	1		5.48		1		5.93		3		4.65		8		4.80		13		4.84
Mortgage-backed securities:
Agency RMBS																	35,349		2.29
Non-agency RMBS																	30		2.22
Agency commercial MBS																	4,117		2.31
CLOs																	983		3.80
Total securities held-to-maturity	$	1,642	1.63	%	$	11,157	1.23	%	$	3,710	1.33	%	$	269	1.98	%	$	57,257	2.03	%
Total securities	$	13,500	1.73	%	$	42,705	1.27	%	$	16,610	1.40	%	$	2,709	2.75	%	$	144,181	1.99	%

(a)    Yields are based upon the amortized cost of securities and consider the contractual coupon, amortization of premiums and accretion of discounts, excluding the effect of related hedging derivatives.

Pledged assets

At Sept. 30, 2022, BNY Mellon had pledged assets of $137 billion, including $106 billion pledged as collateral for potential borrowings at the Federal Reserve Discount Window and $8 billion pledged as collateral for borrowing at the Federal Home Loan Bank. The components of the assets pledged at Sept. 30, 2022 included $120 billion of securities, $12 billion of loans, $4 billion of trading assets and $1 billion of interest-bearing deposits with banks.

If there has been no borrowing at the Federal Reserve Discount Window, the Federal Reserve generally allows banks to freely move assets in and out of their

pledged assets account to sell or repledge the assets for other purposes. BNY Mellon regularly moves assets in and out of its pledged assets account at the Federal Reserve.

At Dec. 31, 2021, BNY Mellon had pledged assets of $144 billion, including $112 billion pledged as collateral for potential borrowing at the Federal Reserve Discount Window and $7 billion pledged as collateral for borrowing at the Federal Home Loan Bank. The components of the assets pledged at Dec. 31, 2021 included $126 billion of securities, $12 billion of loans, $5 billion of trading assets and $1 billion of interest-bearing deposits with banks.

At Sept. 30, 2022 and Dec. 31, 2021, pledged assets included $22 billion and $24 billion, respectively, for which the recipients were permitted to sell or repledge the assets delivered.

We also obtain securities as collateral, including receipts under resale agreements, securities borrowed, derivative contracts and custody agreements, on terms which permit us to sell or repledge the securities to others. At Sept. 30, 2022 and Dec. 31, 2021, the market value of the securities received that can be sold or repledged was $99 billion and $122 billion, respectively. We routinely sell or repledge these securities through delivery to third parties. As of Sept. 30, 2022 and Dec. 31, 2021, the market value of securities collateral sold or repledged was $63 billion and $78 billion, respectively.

Restricted cash and securities

Cash and securities may be segregated under federal and other regulations or requirements. At Sept. 30, 2022 and Dec. 31, 2021, cash segregated under federal and other regulations or requirements was $5 billion and $4 billion, respectively. Restricted cash is primarily included in interest-bearing deposits with banks on the consolidated balance sheet. Securities segregated under federal and other regulations or requirements were $4 billion at Sept. 30, 2022 and $4 billion at Dec. 31, 2021. Restricted securities were sourced from securities purchased under resale agreements and are included in federal funds sold and securities purchased under resale agreements on the consolidated balance sheet.

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Loans and asset quality

9 Months Ended

Sep. 30, 2022

Receivables [Abstract]

Loans and asset quality

Loans and asset quality

Loans

The table below provides the details of our loan portfolio.

Loans	Sept. 30, 2022		Dec. 31, 2021
(in millions)
Commercial	$	2,135	$	2,128
Commercial real estate	6,299		6,033
Financial institutions	11,105		10,232
Lease financings	702		731
Wealth management loans	10,676		9,792
Wealth management mortgages	8,878		8,200
Other residential mortgages	356		299
Capital call financing	3,985		2,284
Other	2,884		2,541
Overdrafts	5,100		3,060
Margin loans	17,709		22,487
Total loans (a)	$	69,829	$	67,787

(a)    Net of unearned income of $238 million at Sept. 30, 2022 and $240 million at Dec. 31, 2021 primarily related to lease financings.

We disclose information related to our loans and asset quality by the class of the financing receivable in the following tables.

Allowance for credit losses

Activity in the allowance for credit losses on loans and lending-related commitments is presented below. This does not include activity in the allowance for credit losses related to other financial instruments, including cash and due from banks, interest-bearing deposits with banks, federal funds sold and securities purchased under resale agreements, available-for-sale securities, held-to-maturity securities and accounts receivable.

Allowance for credit losses activity for the quarter ended Sept. 30, 2022									Wealth management loans		Wealth management mortgages		Other residential mortgages		Capital call financing
(in millions)	Commercial		Commercial real estate		Financial institutions		Lease financings										Total
Beginning balance	$	16	$	184	$	21	$	1	$	1	$	7	$	7	$	6	$	243
Charge-offs	—		—		—		—		—		—		—		—		—
Recoveries	—		—		—		—		—		—		1		—		1
Net recoveries	—		—		—		—		—		—		1		—		1
Provision (a)	1		(8)		(1)		—		—		2		—		(2)		(8)
Ending balance	$	17	$	176	$	20	$	1	$	1	$	9	$	8	$	4	$	236
Allowance for:
Loan losses	$	4	$	130	$	9	$	1	$	1	$	8	$	8	$	3	$	164
Lending-related commitments	13		46		11		—		—		1		—		1		72
Individually evaluated for impairment:
Loan balance (b)	$	—	$	75	$	—	$	—	$	—	$	14	$	1	$	—	$	90
Allowance for loan losses	—		1		—		—		—		—		—		—		1

(a)    Does not include the provision for credit losses benefit related to other financial instruments of $22 million for the quarter ended Sept. 30, 2022.

(b)    Includes collateral-dependent loans of $90 million with $135 million of collateral at fair value.

Allowance for credit losses activity for the quarter ended June 30, 2022									Wealth management loans		Wealth management mortgages		Other residential mortgages		Capital call financing
(in millions)	Commercial		Commercial real estate		Financial institutions		Lease financings										Total
Beginning balance	$	12	$	176	$	15	$	1	$	1	$	9	$	7	$	3	$	224
Charge-offs	—		—		—		—		—		—		—		—		—
Recoveries	—		—		—		—		—		—		1		—		1
Net recoveries	—		—		—		—		—		—		1		—		1
Provision (a)	4		8		6		—		—		(2)		(1)		3		18
Ending balance	$	16	$	184	$	21	$	1	$	1	$	7	$	7	$	6	$	243
Allowance for:
Loan losses	$	4	$	147	$	10	$	1	$	1	$	6	$	7	$	5	$	181
Lending-related commitments	12		37		11		—		—		1		—		1		62
Individually evaluated for impairment:
Loan balance (b)	$	—	$	121	$	—	$	—	$	—	$	14	$	1	$	—	$	136
Allowance for loan losses	—		1		—		—		—		—		—		—		1

(a)    Does not include the provision for credit losses related to other financial instruments of $29 million for the quarter ended June 30, 2022.

(b)    Includes collateral-dependent loans of $136 million with $179 million of collateral at fair value.

Allowance for credit losses activity for the quarter ended Sept. 30, 2021									Wealth management loans (a)		Wealth management mortgages (a)		Other residential mortgages		Capital call financing (a)		Other		Total
(in millions)	Commercial		Commercial real estate		Financial institutions		Lease financings
Beginning balance	$	8	$	289	$	6	$	2	$	1	$	4	$	8	$	1	$	—	$	319
Charge-offs	—		—		—		—		—		—		—		—		—		—
Recoveries	—		—		—		—		—		—		1		—		—		1
Net recoveries	—		—		—		—		—		—		1		—		—		1
Provision (b)	2		(63)		2		(1)		—		—		(3)		—		16		(47)
Ending balance	$	10	$	226	$	8	$	1	$	1	$	4	$	6	$	1	$	16	$	273
Allowance for:
Loan losses	$	2	$	199	$	4	$	1	$	1	$	3	$	6	$	1	$	16	$	233
Lending-related commitments	8		27		4		—		—		1		—		—		—		40
Individually evaluated for impairment:
Loan balance (c)	$	—	$	25	$	—	$	—	$	—	$	18	$	1	$	—	$	16	$	60
Allowance for loan losses	—		3		—		—		—		—		—		—		16		19

(a)    In 2021, we began disclosing wealth management loans and wealth management mortgages separately and capital call financing loans. Beginning balances and the activity for the third quarter of 2021 have been revised to be comparable.

(b)    Does not include the provision for credit losses related to other financial instruments of $2 million for the third quarter of 2021.

(c)    Includes collateral-dependent loans of $60 million with $52 million of collateral at fair value.

Allowance for credit losses activity for the nine months ended Sept. 30, 2022													Other residential mortgages		Capital call financing		Total
(in millions)	Commercial		Commercial real estate		Financial institutions		Lease financings		Wealth management loans		Wealth management mortgages
Beginning balance	$	12	$	199	$	13	$	1	$	1	$	6	$	7	$	2	$	241
Charge-offs	—		—		—		—		—		—		—		—		—
Recoveries	—		—		—		—		—		—		3		—		3
Net recoveries	—		—		—		—		—		—		3		—		3
Provision (a)	5		(23)		7		—		—		3		(2)		2		(8)
Ending balance	$	17	$	176	$	20	$	1	$	1	$	9	$	8	$	4	$	236

(a)    Does not include the provision for credit losses related to other financial instruments of $27 million for the nine months ended Sept. 30, 2022.

Allowance for credit losses activity for the nine months ended Sept. 30, 2021													Other residential mortgages		Capital call financing (a)		Other		Total
(in millions)	Commercial		Commercial real estate		Financial institutions		Lease financings		Wealth management loans (a)		Wealth management mortgages (a)
Beginning balance	$	16	$	430	$	10	$	2	$	1	$	7	$	13	$	—	$	—	$	479
Charge-offs	—		—		—		—		—		(1)		(1)		—		—		(2)
Recoveries	—		—		2		—		—		—		4		—		—		6
Net recoveries (charge-offs)	—		—		2		—		—		(1)		3		—		—		4
Provision (b)	(6)		(204)		(4)		(1)		—		(2)		(10)		1		16		(210)
Ending balance	$	10	$	226	$	8	$	1	$	1	$	4	$	6	$	1	$	16	$	273

(a)    In 2021, we began disclosing wealth management loans and wealth management mortgages separately and capital call financing loans. Beginning balances and the activity for the first nine months of 2021 have been revised to be comparable.

(b)    Does not include the provision for credit losses benefit related to other financial instruments of $4 million for the nine months ended Sept. 30, 2021.

Nonperforming assets

The table below presents our nonperforming assets.

Nonperforming assets	Sept. 30, 2022						Dec. 31, 2021
	Recorded investment						Recorded investment
	With an allowance		Without an allowance				With an allowance		Without an allowance
(in millions)					Total						Total
Nonperforming loans:
Commercial real estate	$	—	$	51	$	51	$	12	$	42	$	54
Other residential mortgages	32		1		33		38		1		39
Wealth management mortgages	8		12		20		8		17		25
Total nonperforming loans	40		64		104		58		60		118
Other assets owned	—		3		3		—		2		2
Total nonperforming assets	$	40	$	67	$	107	$	58	$	62	$	120

Past due loans

The table below presents our past due loans.

Past due loans and still accruing interest	Sept. 30, 2022								Dec. 31, 2021
	Days past due						Total past due		Days past due						Total past due
(in millions)	30-59		60-89		≥90				30-59		60-89		≥90
Wealth management loans	$	33	$	5	$	—	$	38	$	33	$	—	$	—	$	33
Wealth management mortgages	1		5		—		6		24		—		—		24
Commercial real estate	5		—		—		5		3		—		—		3
Other residential mortgages	4		1		—		5		2		1		—		3
Financial institutions	—		—		—		—		31		—		—		31
Total past due loans	$	43	$	11	$	—	$	54	$	93	$	1	$	—	$	94

Loan modifications

A modified loan is considered a troubled debt restructuring (“TDR”) if the debtor is experiencing financial difficulties and the creditor grants a concession to the debtor that would not otherwise be considered. A TDR may include a transfer of real estate or other assets from the debtor to the creditor, or a modification of the term of the loan. Not all modified loans are considered TDRs. We modified eight loans in the first nine months of 2022 with an aggregate recorded investment of $13 million. The modifications of the other residential and commercial real estate loans in the first nine months of 2022 consisted of reducing the stated interest rates and, in certain cases, forbearance of default and extending the maturity dates.

TDRs that subsequently defaulted

There were two residential mortgage loans that had been restructured in a TDR in 2022 and have subsequently defaulted in the third quarter of 2022.

The total recorded investment of these loans was less than $1 million.Due to the coronavirus pandemic, there were two forms of relief provided for classifying loans as TDRs: The Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”), the relevant provisions of which were extended by the Consolidated Appropriations Act, 2021, and the Interagency Guidance. The extension period ended Jan. 1, 2022. See Note 1 of the Notes to Consolidated Financial Statements in our 2021 Annual Report for additional details on the CARES Act, Consolidated Appropriations Act, 2021, and Interagency Guidance. Loans modified under the CARES Act or Interagency Guidance totaled $23 million in the third quarter of 2021. Nearly all of the modifications were short-term loan payment forbearances or modified principal and/or interest payments. These loans were primarily residential mortgage and commercial real estate loans. We did not identify any of the modifications as TDRs. At Sept. 30, 2022, the unpaid principal balance of the loans modified under the CARES Act or Interagency Guidance was $74 million.

Credit quality indicators

Our credit strategy is to focus on investment-grade clients that are active users of our non-credit services. Each customer is assigned an internal credit rating, which is mapped to an external rating agency grade equivalent, if possible, based upon a number of

dimensions, which are continually evaluated and may change over time.

The tables below provide information about the credit profile of the loan portfolio by the period of origination.

Credit profile of the loan portfolio													Sept. 30, 2022
													Revolving loans
	Originated, at amortized cost												Amortized cost		Converted to term loans – Amortized cost				Accrued interest receivable
(in millions)	YTD22		2021		2020		2019		2018		Prior to 2018						Total (a)
Commercial:
Investment grade	$	322	$	168	$	20	$	—	$	13	$	45	$	1,402	$	—	$	1,970
Non-investment grade	82		6		—		—		—		—		77		—		165
Total commercial	404		174		20		—		13		45		1,479		—		2,135		$	3
Commercial real estate:
Investment grade	919		1,172		458		904		212		912		296		—		4,873
Non-investment grade	416		445		145		236		109		19		33		23		1,426
Total commercial real estate	1,335		1,617		603		1,140		321		931		329		23		6,299		20
Financial institutions:
Investment grade	176		391		—		—		—		33		9,029		—		9,629
Non-investment grade	70		—		—		—		—		—		1,406		—		1,476
Total financial institutions	246		391		—		—		—		33		10,435		—		11,105		57
Wealth management loans:
Investment grade	28		58		18		47		—		228		10,264		—		10,643
Non-investment grade	—		—		—		—		—		—		33		—		33
Total wealth management loans	28		58		18		47		—		228		10,297		—		10,676		38
Wealth management mortgages	1,523		1,997		934		788		494		3,120		22		—		8,878		18
Lease financings	18		—		52		11		7		614		—		—		702		—
Other residential mortgages	—		—		—		—		—		356		—		—		356		1
Capital call financing	—		—		—		—		—		—		3,985		—		3,985		18
Other loans	—		—		—		—		—		—		2,884		—		2,884		4
Margin loans	5,259		—		—		—		—		—		12,450		—		17,709		24
Total loans	$	8,813	$	4,237	$	1,627	$	1,986	$	835	$	5,327	$	41,881	$	23	$	64,729	$	183

(a)    Excludes overdrafts of $5,100 million. Overdrafts occur on a daily basis primarily in the custody and securities clearance business and are generally repaid within two business days.

Credit profile of the loan portfolio													Dec. 31, 2021
													Revolving loans
	Originated, at amortized cost												Amortized cost		Converted to term loans – Amortized cost				Accrued interest receivable
(in millions)	2021		2020		2019		2018		2017		Prior to 2017						Total (a)
Commercial:
Investment grade	$	348	$	20	$	—	$	8	$	145	$	—	$	1,450	$	—	$	1,971
Non-investment grade	81		—		—		—		—		—		76		—		157
Total commercial	429		20		—		8		145		—		1,526		—		2,128		$	1
Commercial real estate:
Investment grade	1,577		528		683		173		298		601		205		—		4,065
Non-investment grade	660		97		568		351		50		95		121		26		1,968
Total commercial real estate	2,237		625		1,251		524		348		696		326		26		6,033		7
Financial institutions:
Investment grade	705		—		—		—		—		60		8,015		—		8,780
Non-investment grade	20		—		—		—		—		—		1,432		—		1,452
Total financial institutions	725		—		—		—		—		60		9,447		—		10,232		11
Wealth management loans:
Investment grade	117		18		73		6		104		122		9,320		—		9,760
Non-investment grade	1		—		—		—		—		—		31		—		32
Total wealth management loans	118		18		73		6		104		122		9,351		—		9,792		12
Wealth management mortgages	2,058		1,008		855		542		885		2,838		14		—		8,200		14
Lease financings	25		67		15		10		2		612		—		—		731		—
Other residential mortgages	—		—		—		—		—		299		—		—		299		1
Capital call financing	—		—		—		—		—		—		2,284		—		2,284		3
Other loans	—		—		—		—		—		—		2,541		—		2,541		2
Margin loans	7,697		—		—		—		—		—		14,790		—		22,487		10
Total loans	$	13,289	$	1,738	$	2,194	$	1,090	$	1,484	$	4,627	$	40,279	$	26	$	64,727	$	61

(a)    Excludes overdrafts of $3,060 million. Overdrafts occur on a daily basis primarily in the custody and securities clearance business and are generally repaid within two business days.

Commercial loans

The commercial loan portfolio is divided into investment grade and non-investment grade categories based on the assigned internal credit ratings, which are generally consistent with those of the public rating agencies. Customers with ratings consistent with BBB- (S&P)/Baa3 (Moody’s) or better are considered to be investment grade. Those clients with ratings lower than this threshold are considered to be non-investment grade.

Commercial real estate

Our income-producing commercial real estate facilities are focused on experienced owners and are structured with moderate leverage based on existing cash flows. Our commercial real estate lending activities also include construction and renovation facilities.

Financial institutions

Financial institution exposures are high quality, with 96% of the exposures meeting the investment grade

equivalent criteria of our internal credit rating classification at Sept. 30, 2022. In addition, 66% of the financial institutions exposure is secured. For example, securities industry clients and asset managers often borrow against marketable securities held in custody. The exposure to financial institutions is generally short-term, with 84% expiring within one year.

Wealth management loans

Wealth management loans are not typically rated by external rating agencies. A majority of the wealth management loans are secured by the customers’ investment management accounts or custody accounts. Eligible assets pledged for these loans are typically investment grade fixed-income securities, equities and/or mutual funds. Internal ratings for this portion of the wealth management loan portfolio, therefore, would equate to investment grade external ratings. Wealth management loans are provided to select customers based on the pledge of other types of assets. For the loans collateralized by other assets, the credit quality of the obligor is carefully analyzed,

but we do not consider this portion of wealth management loan portfolio to be investment grade.

Wealth management mortgages

Credit quality indicators for wealth management mortgages are not correlated to external ratings. Wealth management mortgages are typically loans to high-net-worth individuals, which are secured primarily by residential property. These loans are primarily interest-only, adjustable rate mortgages with a weighted-average loan-to-value ratio of 61% at origination. Delinquency rate is a key indicator of credit quality in the wealth management portfolio. At Sept. 30, 2022, less than 1% of the mortgages were past due.

At Sept. 30, 2022, the wealth management mortgage portfolio consisted of the following geographic concentrations: California – 21%; New York – 15%; Florida – 11%; Massachusetts – 8%; and other – 45%.

Lease financings

At Sept. 30, 2022, the lease financings portfolio consisted of exposures backed by well-diversified assets, primarily real estate and large-ticket transportation equipment. The largest components of our lease residual value exposure relate to aircraft and freight-related rail cars. Assets are both domestic and foreign-based, with primary concentrations in Germany and the U.S.

Other residential mortgages

The other residential mortgages portfolio primarily consists of 1-4 family residential mortgage loans and totaled $356 million at Sept. 30, 2022 and $299 million at Dec. 31, 2021. Included in this portfolio at Sept. 30, 2022 were $94 million of fixed-rate jumbo mortgage loans purchased in the second quarter of

2022 with a weighted-average loan-to-value ratio of 69% at origination. These loans are not typically correlated to external ratings.

Capital call financing

Capital call financing includes loans to private equity funds that are secured by the fund investors’ capital commitments and the funds’ right to call capital.

Other loans

Other loans primarily include loans to consumers that are fully collateralized with equities, mutual funds and fixed-income securities.

Margin loans

We had $17.7 billion of secured margin loans at Sept. 30, 2022, compared with $22.5 billion at Dec. 31, 2021. Margin loans are collateralized with marketable securities, and borrowers are required to maintain a daily collateral margin in excess of 100% of the value of the loan. We have rarely suffered a loss on these types of loans.

Overdrafts

Overdrafts primarily relate to custody and securities clearance clients and totaled $5.1 billion at Sept. 30, 2022 and $3.1 billion at Dec. 31, 2021. Overdrafts occur on a daily basis and are generally repaid within two business days.

Reverse repurchase agreements

Reverse repurchase agreements at Sept. 30, 2022 and Dec. 31, 2021 were fully secured with high-quality collateral. As a result, there was no allowance for credit losses related to these assets at Sept. 30, 2022 and Dec. 31, 2021.

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Goodwill and intangible assets

9 Months Ended

Sep. 30, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and intangible assets

Goodwill and intangible assets

Goodwill

The tables below provide a breakdown of goodwill by business segment.

Goodwill by business segment (in millions)	Securities Services		Market and Wealth Services		Investment and Wealth Management		Consolidated
Balance at Dec. 31, 2021	$	7,062	$	1,435	$	9,015	$	17,512
Impairment losses	—		—		(680)		(680)
Dispositions	(13)		—		—		(13)
Foreign currency translation	(142)		(18)		(247)		(407)
Balance at Sept. 30, 2022
Goodwill	$	6,907	$	1,417	$	8,768	$	17,092
Accumulated impairment losses	—		—		(680)		(680)
Net goodwill	$	6,907	$	1,417	$	8,088	$	16,412

Goodwill by business segment (in millions)	Securities Services		Market and Wealth Services		Investment and Wealth Management		Consolidated
Balance at Dec. 31, 2020	$	7,033	$	1,423	$	9,040	$	17,496
Dispositions	—		—		(5)		(5)
Foreign currency translation	(47)		(1)		(23)		(71)
Balance at Sept. 30, 2021	$	6,986	$	1,422	$	9,012	$	17,420

Goodwill impairment testing

The goodwill impairment test is performed at least annually at the reporting unit level. BNY Mellon’s business segments include six reporting units for which goodwill impairment testing is performed. As a result of the annual goodwill impairment test conducted in the second quarter of 2022, no goodwill impairment was recognized.

An interim test is performed when events or circumstances occur that may indicate that it is more likely than not that the fair value of any reporting unit may be less than its carrying value.

In the third quarter 2022, due to decreases in market values and the related outlook as well as increased market interest rates, we performed an interim goodwill impairment test of the Investment Management reporting unit which had $7.0 billion of allocated goodwill. The fair value of the Investment Management reporting unit was determined to be 7% below its carrying value, resulting in a goodwill impairment charge of $680 million. This goodwill impairment represents a non-cash charge and did not

affect BNY Mellon’s liquidity position, tangible common equity or regulatory capital ratios. We determined it was not necessary to perform an interim goodwill impairment test for our other reporting units.

We determined the fair value of the Investment Management reporting unit using an income approach based on management’s projections as of Sept 30, 2022. The discount rate applied to these cash flows was 10.5% compared with the 10% discount rate used in the annual impairment test conducted in the second quarter of 2022. The increase was driven by a higher risk free rate. Determining the fair value of a reporting unit is subject to uncertainty as it is reliant on estimates of cash flows that extend far into the future, and, by their nature, are difficult to estimate over such an extended time frame. The cash flow estimates for the Investment Management reporting unit are impacted by projections of the level and mix of assets under management, market values, operating margins and long-term growth rates. In the future, changes in the assumptions or the discount rate could produce a material non-cash goodwill impairment.

Intangible assets

The tables below provide a breakdown of intangible assets by business segment.

Intangible assets – net carrying amount by business segment (in millions)	Securities Services		Market and Wealth Services		Investment and Wealth Management		Other		Consolidated
Balance at Dec. 31, 2021	$	230	$	392	$	1,520	$	849	$	2,991
Amortization	(25)		(6)		(20)		—		(51)
Foreign currency translation	(8)		—		(30)		—		(38)
Balance at Sept. 30, 2022	$	197	$	386	$	1,470	$	849	$	2,902

Intangible assets – net carrying amount by business segment (in millions)	Securities Services		Market and Wealth Services		Investment and Wealth Management		Other		Consolidated
Balance at Dec. 31, 2020	$	194	$	414	$	1,555	$	849	$	3,012
Disposition	—		—		(6)		—		(6)
Amortization	(24)		(17)		(22)		—		(63)
Foreign currency translation	—		—		(2)		—		(2)
Balance at Sept. 30, 2021	$	170	$	397	$	1,525	$	849	$	2,941

The table below provides a breakdown of intangible assets by type.

Intangible assets	Sept. 30, 2022							Dec. 31, 2021
(dollars in millions)	Gross carrying amount		Accumulated amortization		Net carrying amount		Remaining weighted- average amortization period	Gross carrying amount		Accumulated amortization		Net carrying amount
Subject to amortization: (a)
Customer contracts—Securities Services	$	733	$	(538)	$	195	11 years	$	747	$	(518)	$	229
Customer contracts—Market and Wealth Services	314		(299)		15		4 years	378		(356)		22
Customer relationships—Investment and Wealth Management	553		(456)		97		9 years	568		(456)		112
Other	47		(13)		34		14 years	47		(8)		39
Total subject to amortization	1,647		(1,306)		341		10 years	1,740		(1,338)		402
Not subject to amortization: (b)
Tradename	1,288		N/A		1,288		N/A	1,294		N/A		1,294
Customer relationships	1,273		N/A		1,273		N/A	1,295		N/A		1,295
Total not subject to amortization	2,561		N/A		2,561		N/A	2,589		N/A		2,589
Total intangible assets	$	4,208	$	(1,306)	$	2,902	N/A	$	4,329	$	(1,338)	$	2,991

(a)    Excludes fully amortized intangible assets.

(b)    Intangible assets not subject to amortization have an indefinite life.

N/A – Not applicable.

Estimated annual amortization expense for current intangibles for the next five years is as follows:

For the year ended Dec. 31,	Estimated amortization expense (in millions)
2022		$	67
2023		57
2024		49
2025		42
2026		34

Intangible asset impairment testing

Intangible assets not subject to amortization are tested for impairment annually or more often if events or circumstances indicate they may be impaired.

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Other assets

9 Months Ended

Sep. 30, 2022

Other Assets [Abstract]

Other assets

Other assets

The following table provides the components of other assets presented on the consolidated balance sheet.

Other assets	Sept. 30, 2022		Dec. 31, 2021
(in millions)
Corporate/bank-owned life insurance	$	5,391	$	5,359
Accounts receivable	4,838		4,178
Fails to deliver	4,622		1,561
Software	2,190		2,096
Prepaid pension assets	2,012		1,946
Cash collateral receivable on derivative transactions	1,423		304
Qualified affordable housing project investments	1,255		1,153
Renewable energy investments	907		1,027
Fair value of hedging derivatives	875		206
Prepaid expense	804		476
Equity method investments	781		939
Other equity investments (a)	642		449
Income taxes receivable	577		538
Federal Reserve Bank stock	477		472
Seed capital (b)	342		357
Assets of consolidated investment management funds	214		462
Other (c)	1,252		886
Total other assets	$	28,602	$	22,409

(a)     Includes strategic equity, private equity and other investments.

(b)    Includes investments in BNY Mellon funds which hedge deferred incentive awards.

(c)    At Sept. 30, 2022 and Dec. 31, 2021, other assets include $6 million and $7 million, respectively, of Federal Home Loan Bank stock, at cost.

Non-readily marketable equity securities

Non-readily marketable equity securities do not have readily determinable fair values. These investments are valued using a measurement alternative where the investments are carried at cost, less any impairment, and plus or minus changes resulting from observable price changes in orderly transactions for an identical or similar investment of the same issuer. The observable price changes are recorded in investment and other revenue on the consolidated income statement. Our non-readily marketable equity securities totaled $434 million at Sept. 30, 2022 and $264 million at Dec. 31, 2021 and are included in other equity investments in the table above.

The following table presents the adjustments on the non-readily marketable equity securities.

Adjustments on non-readily marketable equity securities											Life-to-date
(in millions)	3Q22		2Q22		3Q21		YTD22		YTD21
Upward adjustments	$	3	$	76	$	55	$	125	$	61	$	283
Downward adjustments	—		(7)		—		(7)		—		(11)
Net adjustments	$	3	$	69	$	55	$	118	$	61	$	272

Qualified affordable housing project investments

We invest in affordable housing projects primarily to satisfy the Company’s requirements under the Community Reinvestment Act. Our total investment in qualified affordable housing projects totaled $1.3 billion at Sept. 30, 2022 and $1.2 billion at Dec. 31, 2021. Commitments to fund future investments in qualified affordable housing projects totaled $595 million at Sept. 30, 2022 and $543 million at Dec. 31, 2021 and are recorded in other liabilities on the consolidated balance sheet. A summary of the commitments to fund future investments is as follows: remainder of 2022 – $92 million; 2023 – $210 million; 2024 – $144 million; 2025 – $90 million; 2026 – $21 million; and 2027 and thereafter – $38 million.

Tax credits and other tax benefits recognized were $38 million in the third quarter of 2022, $38 million in the second quarter of 2022, $38 million in the third quarter of 2021, $114 million in the first nine months of 2022 and $114 million in the first nine months of 2021.

Amortization expense included in the provision for income taxes was $32 million in the third quarter of 2022, $33 million in the second quarter of 2022, $32 million in the third quarter of 2021, $97 million in the first nine months of 2022 and $96 million in the first nine months of 2021.

Investments valued using net asset value (“NAV”) per share

In our Investment and Wealth Management business segment, we make seed capital investments in certain funds we manage. We also hold private equity investments, primarily small business investment companies (“SBICs”), which are compliant with the Volcker Rule, and certain other corporate investments. Seed capital, private equity and other

corporate investments are included in other assets on the consolidated balance sheet. The fair value of certain of these investments was estimated using the

NAV per share for our ownership interest in the funds.

The table below presents information on our investments valued using NAV.

Investments valued using NAV	Sept. 30, 2022					Dec. 31, 2021
(in millions)	Fair value		Unfunded  commitments			Fair value		Unfunded commitments
Seed capital (a)(b)	$	84		$	16	$	101		$	21
Private equity investments (c)	128			58		113			61
Other	4			—		4			—
Total	$	216		$	74	$	218		$	82

(a)    Primarily includes leveraged loans and structured credit funds, which are generally not redeemable. Distributions from such investments will be received as the underlying investments in the funds, which have lives of three to 11 years at both Sept. 30, 2022 and Dec. 31, 2021, are liquidated.

(b)    Includes investments in funds that relate to deferred compensation arrangements with employees.

(c)    Private equity investments primarily include Volcker Rule-compliant investments in SBICs that invest in various sectors of the economy. Private equity investments do not have redemption rights. Distributions from such investments will be received as the underlying investments in the private equity investments, which have a life of 10 years, are liquidated.

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Contract revenue

9 Months Ended

Sep. 30, 2022

Revenue from Contract with Customer [Abstract]

Contract revenue

Contract revenueFee and other revenue in the Securities Services, Market and Wealth Services and Investment and Wealth Management business segments is primarily variable, based on levels of assets under custody and/or administration, assets under management and the level of client-driven transactions, as specified in fee schedules. See Note 10 of the Notes to Consolidated Financial Statements in our 2021 Annual Report for information on the nature of our services and revenue recognition. See Note 24 of the Notes to Consolidated Financial Statements in our 2021 Annual Report for additional information on our principal business segments, Securities Services,

Market and Wealth Services and Investment and Wealth Management, and the primary services provided.

Disaggregation of contract revenue

Contract revenue is included in fee and other revenue on the consolidated income statement. The following tables present fee and other revenue related to contracts with customers, disaggregated by type of fee revenue, for each business segment. Business segment data has been determined on an internal management basis of accounting, rather than GAAP, which is used for consolidated financial reporting.

Disaggregation of contract revenue by business segment
	Quarter ended
	Sept. 30, 2022										Sept. 30, 2021
(in millions)	Securities Services		Market and Wealth Services		Investment and Wealth Management		Other		Total		Securities Services		Market and Wealth Services		Investment and Wealth Management		Other		Total
Fee and other revenue – contract revenue:
Investment services fees	$	1,233	$	903	$	26	$	(16)	$	2,146	$	1,260	$	810	$	26	$	(17)	$	2,079
Investment management and performance fees	—		5		800		(3)		802		—		5		901		(6)		900
Financing-related fees	7		3		—		1		11		4		12		—		—		16
Distribution and servicing fees	1		(23)		55		—		33		1		(2)		28		1		28
Investment and other revenue	56		49		(76)		(1)		28		35		3		(10)		—		28
Total fee and other revenue – contract revenue	1,297		937		805		(19)		3,020		1,300		828		945		(22)		3,051
Fee and other revenue – not in scope of Accounting Standards Codification (“ASC”) 606 (a)(b)	239		52		—		42		333		188		62		40		57		347
Total fee and other revenue	$	1,536	$	989	$	805	$	23	$	3,353	$	1,488	$	890	$	985	$	35	$	3,398

(a)    Primarily includes investment services fees, foreign exchange revenue, financing-related fees and investment and other revenue, all of which are accounted for using other accounting guidance.

(b)    The Investment and Wealth Management business segment is net of (loss) attributable to noncontrolling interests related to consolidated investment management funds of $— million in the third quarter of 2022 and $(4) million in the third quarter of 2021.

Disaggregation of contract revenue by business segment	Quarter ended
	June 30, 2022
(in millions)	Securities Services		Market and Wealth Services		Investment and Wealth Management		Other		Total
Fee and other revenue – contract revenue:
Investment services fees	$	1,294	$	898	$	24	$	(17)	$	2,199
Investment management and performance fees	—		6		822		(2)		826
Financing-related fees	11		4		—		—		15
Distribution and servicing fees	1		(17)		51		(1)		34
Investment and other revenue	54		38		(66)		1		27
Total fee and other revenue – contract revenue	1,360		929		831		(19)		3,101
Fee and other revenue – not in scope of ASC 606 (a)(b)	189		45		6		94		334
Total fee and other revenue	$	1,549	$	974	$	837	$	75	$	3,435

(a)    Primarily includes investment services fees, foreign exchange revenue, financing-related fees and investment and other revenue, all of which are accounted for using other accounting guidance.

(b)    The Investment and Wealth Management business segment is net of (loss) attributable to noncontrolling interests related to consolidated investment management funds of $(5) million in the second quarter of 2022.

Disaggregation of contract revenue by business segment
	Year-to-date
	Sept. 30, 2022										Sept. 30, 2021
(in millions)	Securities Services		Market and Wealth Services		Investment and Wealth Management		Other		Total		Securities Services		Market and Wealth Services		Investment and Wealth Management		Other		Total
Fee and other revenue – contract revenue:
Investment services fees	$	3,657	$	2,647	$	75	$	(50)	$	6,329	$	3,685	$	2,474	$	75	$	(51)	$	6,183
Investment management and performance fees	—		17		2,509		(11)		2,515		—		13		2,654		(15)		2,652
Financing-related fees	21		21		—		1		43		13		39		—		—		52
Distribution and servicing fees	3		(44)		138		—		97		4		(4)		84		—		84
Investment and other revenue	157		96		(169)		(1)		83		100		6		(28)		—		78
Total fee and other revenue – contract revenue	3,838		2,737		2,553		(61)		9,067		3,802		2,528		2,785		(66)		9,049
Fee and other revenue – not in scope of ASC 606 (a)(b)	650		132		(4)		179		957		550		179		95		96		920
Total fee and other revenue	$	4,488	$	2,869	$	2,549	$	118	$	10,024	$	4,352	$	2,707	$	2,880	$	30	$	9,969

(a)    Primarily includes investment services fees, foreign exchange revenue, financing-related fees and investment and other revenue, all of which are accounted for using other accounting guidance.

(b)    The Investment and Wealth Management business segment is net of (loss) income attributable to noncontrolling interests related to consolidated investment management funds of $(13) million in the first nine months of 2022 and $6 million in the first nine months of 2021.

Contract balances

Our clients are billed based on fee schedules that are agreed upon in each customer contract. Receivables from customers were $2.5 billion at Sept. 30, 2022 and Dec. 31, 2021.

Contract assets represent accrued revenues that have not yet been billed to the customers due to certain contractual terms other than the passage of time and were $68 million at Sept. 30, 2022 and $42 million at Dec. 31, 2021. Accrued revenues recorded as contract assets are usually billed on an annual basis.

Both receivables from customers and contract assets are included in other assets on the consolidated balance sheet.

Contract liabilities represent payments received in advance of providing services under certain contracts and were $182 million at Sept. 30, 2022 and $163 million at Dec. 31, 2021. Contract liabilities are included in other liabilities on the consolidated balance sheet. Revenue recognized in the third quarter of 2022 relating to contract liabilities as of June 30, 2022 was $71 million. Revenue recognized in the first nine months of 2022 relating to contract liabilities as of Dec. 31, 2021 was $106 million.

Changes in contract assets and liabilities primarily relate to either party’s performance under the contracts.

Contract costs

Incremental costs for obtaining contracts that are deemed recoverable are capitalized as contract costs. Such costs result from the payment of sales incentives, primarily in the Wealth Management business, and totaled $57 million at Sept. 30, 2022 and $64 million at Dec. 31, 2021. Capitalized sales incentives are amortized based on the transfer of goods or services to which the assets relate and typically average nine years. The amortization of capitalized sales incentives, which is primarily included in staff expense on the consolidated income statement, totaled $5 million in the third quarter of 2022 and third quarter of 2021, $4 million in the second quarter of 2022, $14 million in the first nine months of 2022 and $15 million in the first nine months of 2021.

Costs to fulfill a contract are capitalized when they relate directly to an existing contract or a specific anticipated contract, generate or enhance resources that will be used to fulfill performance obligations, and are recoverable. Such costs generally represent set-up costs, which include any direct cost incurred at the inception of a contract which enables the fulfillment of the performance obligation, and totaled $25 million at Sept. 30, 2022 and $23 million at Dec. 31, 2021. These capitalized costs are amortized on a straight-line basis over the expected contract period, which generally ranges from seven to nine years. The amortization is included in professional, legal and other purchased services and other expenses on the

consolidated income statement and totaled less than $1 million in the third quarter of 2022, third quarter of 2021 and second quarter of 2022 and $1 million in the first nine months of 2022 and first nine months of 2021.

Unsatisfied performance obligations

We do not have any unsatisfied performance obligations other than those that are subject to a

practical expedient election under ASC 606, Revenue From Contracts With Customers. The practical expedient election applies to (i) contracts with an original expected length of one year or less, and (ii) contracts for which we recognize revenue at the amount to which we have the right to invoice for services performed.

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Net interest revenue

9 Months Ended

Sep. 30, 2022

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, 2022		June 30, 2022		Sept. 30, 2021		Sept. 30, 2022		Sept. 30, 2021
Interest revenue
Deposits with the Federal Reserve and other central banks	$	288	$	99	$	(21)	$	389	$	(62)
Deposits with banks	67		33		12		114		37
Federal funds sold and securities purchased under resale agreements	321		116		32		474		89
Loans	581		370		238		1,211		705
Securities:
Taxable	683		509		413		1,626		1,278
Exempt from federal income taxes	9		10		11		29		31
Total securities	692		519		424		1,655		1,309
Trading securities	35		22		8		78		38
Total interest revenue	1,984		1,159		693		3,921		2,116
Interest expense
Deposits	488		90		(44)		541		(130)
Federal funds purchased and securities sold under repurchase agreements	250		77		2		339		(6)
Trading liabilities	23		10		1		37		6
Other borrowed funds	1		2		3		6		6
Customer payables	48		9		(1)		57		(2)
Long-term debt	248		147		91		493		301
Total interest expense	1,058		335		52		1,473		175
Net interest revenue	926		824		641		2,448		1,941
Provision for credit losses	(30)		47		(45)		19		(214)
Net interest revenue after provision for credit losses	$	956	$	777	$	686	$	2,429	$	2,155

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Employee benefit plans

9 Months Ended

Sep. 30, 2022

Retirement Benefits [Abstract]

Employee benefit plans

Employee benefit plans

The components of net periodic benefit (credit) cost are presented below. The service cost component is reflected in staff expense, whereas the remaining components are reflected in other expense.

Net periodic benefit (credit) cost	Quarter ended
	Sept. 30, 2022						June 30, 2022						Sept. 30, 2021
(in millions)	Domestic pension benefits		Foreign pension benefits		Health care benefits		Domestic pension benefits		Foreign pension benefits		Health care benefits		Domestic pension benefits		Foreign pension benefits		Health care benefits
Service cost	$	—	$	3	$	—	$	—	$	3	$	—	$	—	$	4	$	—
Interest cost	35		6		1		35		7		1		35		6		1
Expected return on assets	(78)		(8)		(2)		(78)		(9)		(1)		(75)		(9)		(2)
Other	17		1		(1)		17		1		(1)		24		3		—
Net periodic benefit (credit) cost	$	(26)	$	2	$	(2)	$	(26)	$	2	$	(1)	$	(16)	$	4	$	(1)

Net periodic benefit (credit) cost	Year-to-date
	Sept. 30, 2022						Sept. 30, 2021
(in millions)	Domestic pension benefits		Foreign pension benefits		Health care benefits		Domestic pension benefits		Foreign pension benefits		Health care benefits
Service cost	$	—	$	9	$	—	$	—	$	11	$	—
Interest cost	105		21		3		103		19		3
Expected return on assets	(234)		(27)		(5)		(225)		(26)		(5)
Other	51		3		(3)		73		10		—
Net periodic benefit (credit) cost	$	(78)	$	6	$	(5)	$	(49)	$	14	$	(2)

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Income taxes

9 Months Ended

Sep. 30, 2022

Income Tax Disclosure [Abstract]

Income taxes

Income taxes

BNY Mellon recorded an income tax provision of $242 million (38.4% effective tax rate) in the third quarter of 2022, which includes approximately 19% impact due to the goodwill impairment. The income tax provision was $219 million (18.8% effective tax rate) in the third quarter of 2021 and $231 million (21.1% effective tax rate) in the second quarter of 2022.

Our total tax reserves as of Sept. 30, 2022 were $130 million compared with $138 million at Dec. 31, 2021. If these tax reserves were unnecessary, $130 million would affect the effective tax rate in future periods. We recognize accrued interest and penalties, if applicable, related to income taxes in income tax expense. Included in the balance sheet at Sept. 30,

2022 is accrued interest, where applicable, of $38 million. The additional tax expense related to interest for the nine months ended Sept. 30, 2022 was $3 million, compared with $6 million for the nine months ended Sept. 30, 2021.

It is reasonably possible the total reserve for uncertain tax positions could decrease within the next 12 months by approximately $12 million as a result of adjustments related to tax years that are still subject to examination.

Our federal income tax returns are closed to examination through 2016. Our New York State income tax returns are closed to examination through 2014. Our New York City income tax returns are closed to examination through 2012. Our UK income tax returns are closed to examination through 2019.

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Variable interest entities

9 Months Ended

Sep. 30, 2022

Securitizations And Variable Interest Entities Disclosure [Abstract]

Variable interest entities

Variable interest entities

We have variable interests in variable interest entities (“VIEs”), which include investments in retail, institutional and alternative investment funds, including CLO structures in which we provide asset management services, some of which are consolidated.

We earn management fees from these funds, as well as performance fees in certain funds, and may also provide start-up capital for new funds. The funds are primarily financed by our customers’ investments in the funds’ equity or debt.

Additionally, we invest in qualified affordable housing and renewable energy projects, which are designed to generate a return primarily through the realization of tax credits. The projects, which are structured as limited partnerships and limited liability companies, are also VIEs, but are not consolidated.

The following table presents the incremental assets and liabilities included in the consolidated balance sheet as of Sept. 30, 2022 and Dec. 31, 2021. The net assets of any consolidated VIE are solely available to settle the liabilities of the VIE and to settle any

investors’ ownership liquidation requests, including any seed capital we invested in the VIE.

Consolidated investment management funds
	Sept. 30, 2022		Dec. 31, 2021
(in millions)
Trading assets	$	206	$	443
Other assets	8		19
Total assets (a)	$	214	$	462
Other liabilities	$	1	$	3
Total liabilities (b)	$	1	$	3
Nonredeemable noncontrolling   interests (c)	$	7	$	196

(a)    Includes voting model entities (“VMEs”) with assets of $99 million at Sept. 30, 2022 and $187 million at Dec. 31, 2021.

(b)    Includes VMEs with liabilities of $1 million at Sept. 30, 2022 and $2 million at Dec. 31, 2021.

(c)    Includes VMEs with nonredeemable noncontrolling interests of $7 million at Sept. 30, 2022 and $43 million at Dec. 31, 2021.

We have not provided financial or other support that was not otherwise contractually required to be provided to our VIEs. Additionally, creditors of any consolidated VIEs do not have any recourse to the general credit of BNY Mellon.

Non-consolidated VIEs

As of Sept. 30, 2022 and Dec. 31, 2021, the following assets and liabilities related to the VIEs where we are not the primary beneficiary were included in our consolidated balance sheets and primarily related to accounting for our investments in qualified affordable housing and renewable energy projects.

The maximum loss exposure indicated in the following table relates solely to our investments in, and unfunded commitments to, the VIEs.

Non-consolidated VIEs	Sept. 30, 2022						Dec. 31, 2021
(in millions)	Assets		Liabilities		Maximum loss exposure		Assets		Liabilities		Maximum loss exposure
Securities – Available-for-sale (a)	$	152	$	—	$	152	$	189	$	—	$	189
Other	2,323		595		2,932		2,385		543		2,946

(a)    Includes investments in the Company’s sponsored CLOs.

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Preferred stock

9 Months Ended

Sep. 30, 2022

Stockholders' Equity Note [Abstract]

Preferred stock

Preferred stock

The Parent has 100 million authorized shares of preferred stock with a par value of $0.01 per share. The following table summarizes the Parent’s preferred stock issued and outstanding at Sept. 30, 2022 and Dec. 31, 2021.

Preferred stock summary (a)		Total shares issued and outstanding		Carrying value (b)
				(in millions)
		Sept. 30, 2022	Dec. 31, 2021	Sept. 30, 2022		Dec. 31, 2021
	Per annum dividend rate
Series A	Greater of (i) three-month LIBOR plus 0.565% for the related distribution period or (ii) 4.000%	5,001	5,001	$	500	$	500
Series D	4.500% to but excluding June 20, 2023, then a floating rate equal to the three-month LIBOR plus 2.46%	5,000	5,000	494		494
Series F	4.625% to but excluding Sept. 20, 2026, then a floating rate equal to the three-month LIBOR plus 3.131%	10,000	10,000	990		990
Series G	4.700% to but excluding Sept. 20, 2025, then a floating rate equal to the five-year treasury rate plus 4.358%	10,000	10,000	990		990
Series H	3.700% to but excluding March 20, 2026, then a floating rate equal to the five-year treasury rate plus 3.352%	5,825	5,825	577		577
Series I	3.750% to but excluding Dec. 20, 2026, then a floating rate equal to the five-year treasury rate plus 2.630%	13,000	13,000	1,287		1,287
Total		48,826	48,826	$	4,838	$	4,838

(a)    All outstanding preferred stock is noncumulative perpetual preferred stock with a liquidation preference of $100,000 per share.

(b)    The carrying value of the Series D, Series F, Series G, Series H and Series I preferred stock is recorded net of issuance costs.

The table below presents the Parent’s preferred dividends.

Preferred dividends
(dollars in millions, except per share amounts)	Depositary shares per share		3Q22				2Q22				3Q21				YTD22				YTD21
			Per share		Total dividend		Per share		Total dividend		Per share		Total dividend		Per share		Total dividend		Per share		Total dividend
Series A	100	(a)	$	1,011.11	$	5	$	1,022.22	$	5	$	1,011.11	$	5	$	3,044.44	$	15	$	3,033.33	$	15
Series D	100		N/A		—		2,250.00		11		N/A		—		2,250.00		11		2,250.00		11
Series E	100		N/A		N/A		N/A		N/A		898.50		10		N/A		N/A		2,735.00		28
Series F	100		2,312.50		23		N/A		—		2,312.50		23		4,625.00		46		4,625.00		46
Series G	100		2,350.00		23		N/A		—		2,350.00		23		4,700.00		47		4,700.00		47
Series H	100		925.00		6		925.00		6		925.00		5		2,775.00		17		3,258.06		19
Series I	100		937.50		12		937.50		12		N/A		N/A		3,145.83		41		N/A		N/A
Total					$	69			$	34			$	66			$	177			$	166

(a)    Represents Normal Preferred Capital Securities.

N/A – Not applicable.

In December 2021, all of the outstanding shares of the Series E preferred stock were redeemed.

All of the outstanding shares of the Series A preferred stock are owned by Mellon Capital IV, a 100% owned finance subsidiary of the Parent, which will pass through any dividend on the Series A preferred stock to the holders of its Normal Preferred Capital Securities. The Parent’s obligations under the trust and other agreements relating to Mellon Capital IV

have the effect of providing a full and unconditional guarantee, on a subordinated basis, of payments due on the Normal Preferred Capital Securities. No other subsidiary of the Parent guarantees the securities of Mellon Capital IV. For additional information on the preferred stock, see Note 15 of the Notes to Consolidated Financial Statements in our 2021 Annual Report.

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Other comprehensive income (loss)

9 Months Ended

Sep. 30, 2022

Equity [Abstract]

Other comprehensive income (loss)

Other comprehensive income (loss)

Components of other comprehensive income (loss)	Quarter ended
	Sept. 30, 2022						June 30, 2022						Sept. 30, 2021
(in millions)	Pre-tax amount		Tax (expense) benefit		After-tax amount		Pre-tax amount		Tax (expense) benefit		After-tax amount		Pre-tax amount		Tax (expense) benefit		After-tax amount
Foreign currency translation:
Foreign currency translation adjustments arising during the period (a)	$	(292)	$	(150)	$	(442)	$	(436)	$	(119)	$	(555)	$	(158)	$	(44)	$	(202)
Total foreign currency translation	(292)		(150)		(442)		(436)		(119)		(555)		(158)		(44)		(202)
Unrealized (loss) on assets available-for-sale:
Unrealized (loss) arising during period	(1,205)		297		(908)		(1,167)		285		(882)		(201)		51		(150)
Reclassification adjustment (b)	(1)		—		(1)		—		—		—		(2)		—		(2)
Net unrealized (loss) on assets available-for-sale	(1,206)		297		(909)		(1,167)		285		(882)		(203)		51		(152)
Defined benefit plans:
Amortization of prior service credit, net loss and initial obligation included in net periodic benefit cost (b)	17		(4)		13		17		(4)		13		28		(6)		22
Total defined benefit plans	17		(4)		13		17		(4)		13		28		(6)		22
Unrealized (loss) gain on cash flow hedges:
Unrealized hedge (loss) gain arising during period	(5)		1		(4)		(8)		2		(6)		1		—		1
Reclassification of net loss (gain) to net income:
Foreign exchange (“FX”) contracts – staff expense	3		(1)		2		1		—		1		(2)		—		(2)
FX contracts – investment and other revenue	1		—		1		—		—		—		—		—		—
Total reclassifications to net income	4		(1)		3		1		—		1		(2)		—		(2)
Net unrealized (loss) on cash flow hedges	(1)		—		(1)		(7)		2		(5)		(1)		—		(1)
Total other comprehensive (loss)	$	(1,482)	$	143	$	(1,339)	$	(1,593)	$	164	$	(1,429)	$	(334)	$	1	$	(333)

(a)    Includes the impact of hedges of net investments in foreign subsidiaries. See Note 17 for additional information.

(b)    The reclassification adjustment related to the unrealized gain (loss) on assets available-for-sale is recorded as net securities gains, which is included in investment and other revenue on the consolidated income statement. The amortization of prior service credit, net loss and initial obligation included in net periodic benefit cost is recorded as other expense on the consolidated income statement.

Components of other comprehensive income (loss)	Year-to-date
	Sept. 30, 2022						Sept. 30, 2021
(in millions)	Pre-tax amount		Tax (expense) benefit		After-tax amount		Pre-tax amount		Tax (expense) benefit		After-tax amount
Foreign currency translation:
Foreign currency translation adjustments arising during the period (a)	$	(848)	$	(302)	$	(1,150)	$	(247)	$	(54)	$	(301)
Total foreign currency translation	(848)		(302)		(1,150)		(247)		(54)		(301)
Unrealized (loss) on assets available-for-sale:
Unrealized (loss) arising during period	(4,393)		1,072		(3,321)		(1,021)		245		(776)
Reclassification adjustment (b)	(5)		1		(4)		(4)		1		(3)
Net unrealized (loss) on assets available-for-sale	(4,398)		1,073		(3,325)		(1,025)		246		(779)
Defined benefit plans:
Amortization of prior service credit, net loss and initial obligation included in net periodic benefit cost (b)	51		(7)		44		83		(14)		69
Total defined benefit plans	51		(7)		44		83		(14)		69
Unrealized (loss) gain on cash flow hedges:
Unrealized hedge (loss) gain arising during period	(16)		4		(12)		2		—		2
Reclassification of net losses (gains) to net income:
FX contracts – staff expense	4		(1)		3		(11)		2		(9)
FX contracts – investment and other revenue	1		—		1		—		—		—
Total reclassifications to net income	5		(1)		4		(11)		2		(9)
Net unrealized (loss) on cash flow hedges	(11)		3		(8)		(9)		2		(7)
Total other comprehensive (loss)	$	(5,206)	$	767	$	(4,439)	$	(1,198)	$	180	$	(1,018)

(a)    Includes the impact of hedges of net investments in foreign subsidiaries. See Note 17 for additional information.

(b)    The reclassification adjustment related to the unrealized gain (loss) on assets available-for-sale is recorded as net securities gains, which is included in investment and other revenue on the consolidated income statement. The amortization of prior service credit, net loss and initial obligation included in net periodic benefit cost is recorded as other expense on the consolidated income statement.

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Fair value measurement

9 Months Ended

Sep. 30, 2022

Fair Value Disclosures [Abstract]

Fair value measurement

Fair value measurementFair value is defined as the price that would be received to sell an asset, or paid to transfer a liability, in an orderly transaction between market participants at the measurement date. A three-level hierarchy for fair value measurements is utilized based upon the transparency of inputs to the valuation of an asset or liability as of the measurement date. BNY Mellon’s own creditworthiness is considered when valuing liabilities. See Note 20 of the Notes to Consolidated Financial Statements in our 2021 Annual Report for

information on how we determine fair value and the fair value hierarchy.

The following tables present the financial instruments carried at fair value at Sept. 30, 2022 and Dec. 31, 2021, by caption on the consolidated balance sheet and by the three-level valuation hierarchy. We have included credit ratings information in certain of the tables because the information indicates the degree of credit risk to which we are exposed, and significant changes in ratings classifications could result in increased risk for us.

Assets measured at fair value on a recurring basis at Sept. 30, 2022												Total carrying value
(dollars in millions)	Level 1			Level 2			Level 3			Netting (a)
Available-for-sale securities:
U.S. Treasury	$	28,156		$	—		$	—		$	—	$	28,156
Sovereign debt/sovereign guaranteed	4,335			6,000			—			—		10,335
Agency RMBS	—			8,365			—			—		8,365
Agency commercial MBS	—			8,100			—			—		8,100
Supranational	—			7,599			—			—		7,599
Foreign covered bonds	—			5,280			—			—		5,280
CLOs	—			5,242			—			—		5,242
Non-agency commercial MBS	—			2,893			—			—		2,893
Foreign government agencies	—			2,315			—			—		2,315
Non-agency RMBS	—			2,113			—			—		2,113
U.S. government agencies	—			1,997			—			—		1,997
State and political subdivisions	—			1,866			—			—		1,866
Other ABS	—			1,465			—			—		1,465
Corporate bonds	—			1,197			—			—		1,197
Other debt securities	—			1			—			—		1
Total available-for-sale securities	32,491			54,433			—			—		86,924
Trading assets:
Debt instruments	2,290			1,780			—			—		4,070
Equity instruments	4,448			—			—			—		4,448
Derivative assets not designated as hedging:
Interest rate	28			1,504			—			(1,053)		479
Foreign exchange	—			15,389			—			(11,915)		3,474
Equity and other contracts	16			242			—			(79)		179
Total derivative assets not designated as hedging	44			17,135			—			(13,047)		4,132
Total trading assets	6,782			18,915			—			(13,047)		12,650
Other assets:
Derivative assets designated as hedging:
Interest rate	—			195			—			—		195
Foreign exchange	—			680			—			—		680
Total derivative assets designated as hedging	—			875			—			—		875
Other assets (b)	302			206			—			—		508
Total other assets	302			1,081			—			—		1,383
Assets measured at NAV (b)												216
Total assets	$	39,575		$	74,429		$	—		$	(13,047)	$	101,173
Percentage of total assets prior to netting	35		%	65		%	—		%

Liabilities measured at fair value on a recurring basis at Sept. 30, 2022												Total carrying value
(dollars in millions)	Level 1			Level 2			Level 3			Netting (a)
Trading liabilities:
Debt instruments	$	3,426		$	36		$	—		$	—	$	3,462
Equity instruments	91			—			—			—		91
Derivative liabilities not designated as hedging:
Interest rate	11			1,793			—			(1,025)		779
Foreign exchange	—			15,756			—			(12,625)		3,131
Equity and other contracts	—			33			—			(2)		31
Total derivative liabilities not designated as hedging	11			17,582			—			(13,652)		3,941
Total trading liabilities	3,528			17,618			—			(13,652)		7,494
Other liabilities:
Derivative liabilities designated as hedging:
Interest rate	—			—			—			—		—
Foreign exchange	—			25			—			—		25
Total derivative liabilities designated as hedging	—			25			—			—		25
Other liabilities	—			1			—			—		1
Total other liabilities	—			26			—			—		26
Total liabilities	$	3,528		$	17,644		$	—		$	(13,652)	$	7,520
Percentage of total liabilities prior to netting	17		%	83		%	—		%

(a)    ASC 815, Derivatives and Hedging, permits the netting of derivative receivables and derivative payables under legally enforceable master netting agreements and permits the netting of cash collateral. Netting is applicable to derivatives not designated as hedging instruments included in trading assets or trading liabilities and derivatives designated as hedging instruments included in other assets or other liabilities. Netting is allocated to the derivative products based on the net fair value of each product.

(b)    Includes seed capital, private equity investments and other assets.

Assets and liabilities measured at fair value on a recurring basis at Dec. 31, 2021												Total carrying value
(dollars in millions)	Level 1			Level 2			Level 3			Netting (a)
Assets
Available-for-sale securities:
U.S. Treasury	$	29,409		$	—		$	—		$	—	$	29,409
Agency RMBS	—			14,530			—			—		14,530
Sovereign debt/sovereign guaranteed	6,017			7,362			—			—		13,379
Agency commercial MBS	—			8,405			—			—		8,405
Supranational	—			7,573			—			—		7,573
Foreign covered bonds	—			6,238			—			—		6,238
CLOs	—			4,439			—			—		4,439
Non-agency commercial MBS	—			3,125			—			—		3,125
Non-agency RMBS	—			2,748			—			—		2,748
Foreign government agencies	—			2,686			—			—		2,686
U.S. government agencies	—			2,536			—			—		2,536
State and political subdivisions	—			2,514			—			—		2,514
Other ABS	—			2,190			—			—		2,190
Corporate bonds	—			2,066			—			—		2,066
Other debt securities	—			1			—			—		1
Total available-for-sale securities	35,426			66,413			—			—		101,839
Trading assets:
Debt instruments	1,447			2,750			—			—		4,197
Equity instruments	9,766			—			—			—		9,766
Derivative assets not designated as hedging:
Interest rate	6			3,253			—			(1,424)		1,835
Foreign exchange	—			6,279			—			(5,501)		778
Equity and other contracts	—			49			—			(48)		1
Total derivative assets not designated as hedging	6			9,581			—			(6,973)		2,614
Total trading assets	11,219			12,331			—			(6,973)		16,577
Other assets:
Derivative assets designated as hedging:
Foreign exchange	—			206			—			—		206
Total derivative assets designated as hedging	—			206			—			—		206
Other assets (b)	438			325			—			—		763
Total other assets	438			531			—			—		969
Assets measured at NAV (b)												218
Total assets	$	47,083		$	79,275		$	—		$	(6,973)	$	119,603
Percentage of total assets prior to netting	37		%	63		%	—		%

Liabilities
Trading liabilities:
Debt instruments	$	2,452		$	46		$	—		$	—	$	2,498
Equity instruments	40			—			—			—		40
Derivative liabilities not designated as hedging:
Interest rate	1			2,834			—			(2,028)		807
Foreign exchange	—			6,215			—			(4,111)		2,104
Equity and other contracts	5			211			—			(196)		20
Total derivative liabilities not designated as hedging	6			9,260			—			(6,335)		2,931
Total trading liabilities	2,498			9,306			—			(6,335)		5,469
Other liabilities:
Derivative liabilities designated as hedging:
Interest rate	—			453			—			—		453
Foreign exchange	—			40			—			—		40
Total derivative liabilities designated as hedging	—			493			—			—		493
Other liabilities	1			2			—			—		3
Total other liabilities	1			495			—			—		496
Total liabilities	$	2,499		$	9,801		$	—		$	(6,335)	$	5,965
Percentage of total liabilities prior to netting	20		%	80		%	—		%

(a)    ASC 815, Derivatives and Hedging, permits the netting of derivative receivables and derivative payables under legally enforceable master netting agreements and permits the netting of cash collateral. Netting is applicable to derivatives not designated as hedging instruments included in trading assets or trading liabilities and derivatives designated as hedging instruments included in other assets or other liabilities. Netting is allocated to the derivative products based on the net fair value of each product.

(b)    Includes seed capital, private equity investments and other assets.

Details of certain available-for-sale securities measured at fair value on a recurring basis	Sept. 30, 2022												Dec. 31, 2021
	Total carrying value (b)		Ratings (a)										Total carrying value (b)		Ratings (a)
			AAA/ AA-		A+/ A-		BBB+/ BBB-		BB+ and lower		Not rated				AAA/ AA-		A+/ A-		BBB+/ BBB-		BB+ and lower		Not rated
(dollars in millions)
Non-agency RMBS, originated in:
2008-2022	$	1,796	100	%	—	%	—	%	—	%	—	%	$	2,190	100	%	—	%	—	%	—	%	—	%
2007	56		—		6		—		50		44		114		—		4		—		39		57
2006	91		—		33		—		50		17		181		—		24		—		33		43
2005	95		5		3		1		42		49		167		3		5		1		37		54
2004 and earlier	75		14		9		5		58		14		96		16		10		5		57		12
Total non-agency RMBS	$	2,113	86	%	2	%	—	%	7	%	5	%	$	2,748	81	%	2	%	—	%	8	%	9	%
Non-agency commercial MBS originated in:
2009-2022	$	2,893	100	%	—	%	—	%	—	%	—	%	$	3,125	100	%	—	%	—	%	—	%	—	%
Foreign covered bonds:
Canada	$	2,108	100	%	—	%	—	%	—	%	—	%	$	2,332	100	%	—	%	—	%	—	%	—	%
UK	1,088		100		—		—		—		—		1,141		100		—		—		—		—
Australia	613		100		—		—		—		—		762		100		—		—		—		—
Germany	556		100		—		—		—		—		638		100		—		—		—		—
Norway	350		100		—		—		—		—		457		100		—		—		—		—
Other	565		100		—		—		—		—		908		100		—		—		—		—
Total foreign covered bonds	$	5,280	100	%	—	%	—	%	—	%	—	%	$	6,238	100	%	—	%	—	%	—	%	—	%
Sovereign debt/sovereign guaranteed:
Germany	$	3,027	100	%	—	%	—	%	—	%	—	%	$	3,585	100	%	—	%	—	%	—	%	—	%
UK	1,693		100		—		—		—		—		1,969		100		—		—		—		—
France	1,552		100		—		—		—		—		1,921		100		—		—		—		—
Singapore	1,059		100		—		—		—		—		1,018		100		—		—		—		—
Canada	676		100		—		—		—		—		630		100		—		—		—		—
Italy	549		—		—		100		—		—		1,382		—		—		100		—		—
Hong Kong	488		100		—		—		—		—		531		100		—		—		—		—
Japan	423		—		100		—		—		—		363		—		100		—		—		—
Spain	228		—		35		65		—		—		782		—		8		92		—		—
Other (c)	640		63		18		—		19		—		1,198		71		19		—		10		—
Total sovereign debt/sovereign guaranteed	$	10,335	86	%	6	%	7	%	1	%	—	%	$	13,379	78	%	5	%	16	%	1	%	—	%
Foreign government agencies:
Canada	$	625	83	%	17	%	—	%	—	%	—	%	$	566	78	%	22	%	—	%	—	%	—	%
Norway	461		100		—		—		—		—		269		100		—		—		—		—
Netherlands	349		100		—		—		—		—		765		100		—		—		—		—
Sweden	275		100		—		—		—		—		252		100		—		—		—		—
Finland	202		100		—		—		—		—		267		100		—		—		—		—
France	177		100		—		—		—		—		301		100		—		—		—		—
Other	226		63		37		—		—		—		266		64		36		—		—		—
Total foreign government agencies	$	2,315	92	%	8	%	—	%	—	%	—	%	$	2,686	92	%	8	%	—	%	—	%	—	%

(a)    Represents ratings by S&P or the equivalent.

(b)    At Sept. 30, 2022 and Dec. 31, 2021, sovereign debt/sovereign guaranteed securities were included in Level 1 and Level 2 in the valuation hierarchy. All other assets in the table are Level 2 assets in the valuation hierarchy.

(c)    Includes non-investment grade sovereign debt/sovereign guaranteed securities related to Brazil of $122 million at Sept. 30, 2022 and $119 million at Dec. 31, 2021.

Assets and liabilities measured at fair value on a nonrecurring basis

Under certain circumstances, we make adjustments to the fair value of our assets, liabilities and unfunded lending-related commitments, although they are not measured at fair value on an ongoing basis. Examples would be the recording of an impairment of

an asset and non-readily marketable equity securities carried at cost with upward or downward adjustments.

The following table presents the financial instruments carried on the consolidated balance sheet by caption and level in the fair value hierarchy as of Sept. 30, 2022 and Dec. 31, 2021.

Assets measured at fair value on a nonrecurring basis	Sept. 30, 2022								Dec. 31, 2021
							Total carrying value								Total carrying value
(in millions)	Level 1		Level 2		Level 3				Level 1		Level 2		Level 3
Loans (a)	$	—	$	35	$	—	$	35	$	—	$	42	$	—	$	42
Other assets (b)	—		437		—		437		—		265		—		265
Total assets at fair value on a nonrecurring basis	$	—	$	472	$	—	$	472	$	—	$	307	$	—	$	307

(a)    The fair value of these loans was unchanged in the third quarter of 2022 and the fourth quarter of 2021, based on the fair value of the underlying collateral, as required by guidance in ASC 326, Financial Instruments – Credit Losses, with an offset to the allowance for credit losses.

(b)    Includes non-readily marketable equity securities carried at cost with upward or downward adjustments and other assets received in satisfaction of debt.

Estimated fair value of financial instruments

The following tables present the estimated fair value and the carrying amount of financial instruments not carried at fair value on the consolidated balance sheet at Sept. 30, 2022 and Dec. 31, 2021, by caption on the consolidated balance sheet and by the valuation hierarchy.

Summary of financial instruments	Sept. 30, 2022
(in millions)	Level 1		Level 2		Level 3		Total estimated fair value		Carrying amount
Assets:
Interest-bearing deposits with the Federal Reserve and other central banks	$	—	$	107,427	$	—	$	107,427	$	107,427
Interest-bearing deposits with banks	—		13,887		—		13,887		13,890
Federal funds sold and securities purchased under resale agreements	—		23,483		—		23,483		23,483
Securities held-to-maturity	10,750		39,735		—		50,485		57,257
Loans (a)	—		68,585		—		68,585		68,963
Other financial assets	4,707		1,671		—		6,378		6,378
Total	$	15,457	$	254,788	$	—	$	270,245	$	277,398
Liabilities:
Noninterest-bearing deposits	$	—	$	88,275	$	—	$	88,275	$	88,275
Interest-bearing deposits	—		208,794		—		208,794		213,714
Federal funds purchased and securities sold under repurchase agreements	—		11,339		—		11,339		11,339
Payables to customers and broker-dealers	—		23,741		—		23,741		23,741
Borrowings	—		683		—		683		683
Long-term debt	—		25,975		—		25,975		27,820
Total	$	—	$	358,807	$	—	$	358,807	$	365,572

(a)    Does not include the leasing portfolio.

Summary of financial instruments	Dec. 31, 2021
(in millions)	Level 1		Level 2		Level 3		Total estimated fair value		Carrying amount
Assets:
Interest-bearing deposits with the Federal Reserve and other central banks	$	—	$	102,467	$	—	$	102,467	$	102,467
Interest-bearing deposits with banks	—		16,636		—		16,636		16,630
Federal funds sold and securities purchased under resale agreements	—		29,607		—		29,607		29,607
Securities held-to-maturity	12,488		44,287		—		56,775		56,866
Loans (a)	—		67,026		—		67,026		66,860
Other financial assets	6,061		1,239		—		7,300		7,300
Total	$	18,549	$	261,262	$	—	$	279,811	$	279,730
Liabilities:
Noninterest-bearing deposits	$	—	$	93,695	$	—	$	93,695	$	93,695
Interest-bearing deposits	—		224,665		—		224,665		225,999
Federal funds purchased and securities sold under repurchase agreements	—		11,566		—		11,566		11,566
Payables to customers and broker-dealers	—		25,150		—		25,150		25,150
Borrowings	—		956		—		956		956
Long-term debt	—		26,701		—		26,701		25,931
Total	$	—	$	382,733	$	—	$	382,733	$	383,297

(a)    Does not include the leasing portfolio.

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Fair value option

9 Months Ended

Sep. 30, 2022

Fair Value Disclosures [Abstract]

Fair value option

Fair value option

We elected fair value as an alternative measurement for selected financial assets and liabilities that are not otherwise required to be measured at fair value, including the assets and liabilities of consolidated investment management funds and subordinated notes associated with certain equity investments. The following table presents the assets and liabilities of consolidated investment management funds, at fair value.

Assets and liabilities of consolidated investment management funds, at fair value
	Sept. 30, 2022		Dec. 31, 2021
(in millions)
Assets of consolidated investment management funds:
Trading assets	$	206	$	443
Other assets	8		19
Total assets of consolidated investment management funds	$	214	$	462
Liabilities of consolidated investment management funds:
Other liabilities	1		3
Total liabilities of consolidated investment management funds	$	1	$	3

The assets and liabilities of the consolidated investment management funds are included in other assets and other liabilities on the consolidated balance sheet. We value the assets and liabilities of consolidated investment management funds using quoted prices for identical assets or liabilities in active markets or observable inputs such as quoted

prices for similar assets or liabilities. Quoted prices for either identical or similar assets or liabilities in inactive markets may also be used. Accordingly, fair value best reflects the interests BNY Mellon holds in the economic performance of the consolidated investment management funds. Changes in the fair value of the assets and liabilities are recorded as income (loss) from consolidated investment management funds, which is included in investment and other revenue in the consolidated income statement.

We elected the fair value option on subordinated notes associated with certain equity investments. The fair value of these subordinated notes was $10 million at Sept. 30, 2022 and $15 million at Dec. 31, 2021. The subordinated notes were valued using observable market inputs and included in Level 2 of the valuation hierarchy.

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Derivative instruments

9 Months Ended

Sep. 30, 2022

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative instruments

Derivative instruments

We use derivatives to manage exposure to market risk, including interest rate risk, equity price risk and foreign currency risk, as well as credit risk. Our trading activities are focused on acting as a market-maker for our customers and facilitating customer trades in compliance with the Volcker Rule.

The notional amounts for derivative financial instruments express the dollar volume of the transactions; however, credit risk is much smaller. We perform credit reviews and enter into netting

agreements and collateral arrangements to minimize the credit risk of derivative financial instruments. We enter into offsetting positions to reduce exposure to foreign currency, interest rate and equity price risk.

Use of derivative financial instruments involves reliance on counterparties. Failure of a counterparty to honor its obligation under a derivative contract is a risk we assume whenever we engage in a derivative contract. There were no counterparty default losses recorded in the third quarter of 2022.

Hedging derivatives

We utilize interest rate swap agreements to manage our exposure to interest rate fluctuations. We enter into fair value hedges as an interest rate risk management strategy to reduce fair value variability by converting certain fixed rate interest payments associated with available-for-sale securities and long-term debt to floating interest rates. We also utilize interest rate swaps and forward exchange contracts as cash flow hedges to manage our exposure to interest rate and foreign exchange rate changes.

The available-for-sale securities hedged consist of U.S. Treasury, agency and non-agency commercial MBS, sovereign debt/sovereign guaranteed, state and political subdivisions, corporate bonds and foreign covered bonds. At Sept. 30, 2022, $32.6 billion par value of available-for-sale securities were hedged with interest rate swaps designated as fair value hedges that had notional values of $32.6 billion.

The fixed rate long-term debt instruments hedged generally have original maturities of five to 30 years. In fair value hedging relationships, fixed rate debt is hedged with “receive fixed rate, pay variable rate” swaps. At Sept. 30, 2022, $22.9 billion par value of debt was hedged with interest rate swaps designated as fair value hedges that had notional values of $22.9 billion.

In addition, we utilize forward foreign exchange contracts as hedges to mitigate foreign exchange exposures. We use forward foreign exchange contracts as cash flow hedges to convert certain forecasted non-U.S. dollar revenue and expenses into

U.S. dollars. We use forward foreign exchange contracts with maturities of 12 months or less as cash flow hedges to hedge our foreign exchange exposure to currencies such as Indian rupee, British pound, euro, Hong Kong dollar, Polish zloty and Singapore dollar used in revenue and expense transactions for entities that have the U.S. dollar as their functional currency. As of Sept. 30, 2022, the hedged forecasted foreign currency transactions and designated forward foreign exchange contract hedges were $407 million (notional), with a net pre-tax loss of $9 million recorded in accumulated other comprehensive income (“OCI”). This loss will be reclassified to earnings over the next 12 months.

We also utilize forward foreign exchange contracts as fair value hedges of the foreign exchange risk associated with available-for-sale securities. Forward points are designated as an excluded component and amortized into earnings over the hedge period. The unamortized derivative value associated with the excluded component is recognized in accumulated OCI. At Sept. 30, 2022, $110 million par value of available-for-sale securities was hedged with foreign currency forward contracts that had a notional value of $110 million.

Forward foreign exchange contracts are also used to hedge the value of our net investments in foreign subsidiaries. These forward foreign exchange contracts have maturities of less than one year. The derivatives employed are designated as hedges of changes in value of our foreign investments due to exchange rates. The change in fair market value of these forward foreign exchange contracts is reported within foreign currency translation adjustments in shareholders’ equity, net of tax. At Sept. 30, 2022, forward foreign exchange contracts with notional amounts totaling $8.1 billion were designated as net investment hedges.

From time to time, we also designate non-derivative financial instruments as hedges of our net investments in foreign subsidiaries. At Sept. 30, 2022, there were no non-derivative financial instruments hedging our net investments in foreign subsidiaries.

The following table presents the pre-tax gains (losses) related to our fair value and cash flow hedging activities recognized in the consolidated income statement.

Income statement impact of fair value and cash flow hedges
(in millions)	Location of gains (losses)	3Q22		2Q22		3Q21		YTD22		YTD21
Interest rate fair value hedges of available-for-sale securities
Derivative	Interest revenue	$	1,294	$	866	$	183	$	3,644	$	649
Hedged item	Interest revenue	(1,292)		(858)		(184)		(3,630)		(647)
Interest rate fair value hedges of long-term debt
Derivative	Interest expense	(540)		(292)		(96)		(1,573)		(427)
Hedged item	Interest expense	539		291		96		1,570		426
Foreign exchange fair value hedges of available-for-sale securities
Derivative (a)	Foreign exchange revenue	(2)		(1)		—		(4)		7
Hedged item	Foreign exchange revenue	2		2		—		5		(6)
Cash flow hedges of forecasted FX exposures
(Loss) gain reclassified from OCI into income	Staff expense	(3)		(1)		2		(4)		11
(Loss) reclassified from OCI into income	Investment and other revenue	(1)		—		—		(1)		—
(Loss) gain recognized in the consolidated income statement due to fair value and cash flow hedging relationships		$	(3)	$	7	$	1	$	7	$	13

(a)    Includes gains of less than $1 million in the third quarter of 2022, $1 million in the second quarter of 2022, less than $1 million in the third quarter of 2021 and gains of $1 million in the first nine months of 2022 and first nine months of 2021 associated with the amortization of the excluded component. At Sept. 30, 2022 and Dec. 31, 2021, the remaining accumulated OCI balance associated with the excluded component was de minimis.

The following table presents the impact of hedging derivatives used in net investment hedging relationships.

Impact of derivative instruments used in net investment hedging relationships
(in millions)
Derivatives in net investment hedging relationships	Gain or (loss) recognized in accumulated OCI on derivatives										Location of gain or (loss) reclassified from accumulated OCI into income	Gain or (loss) reclassified from accumulated OCI into income
	3Q22		2Q22		3Q21		YTD22		YTD21			3Q22		2Q22		3Q21		YTD22		YTD21
FX contracts	$	631	$	505	$	201	$	1,279	$	221	Net interest revenue	$	—	$	—	$	—	$	—	$	—

The following table presents information on the hedged items in fair value hedging relationships.

Hedged items in fair value hedging relationships	Carrying amount of hedged asset or liability				Hedge accounting basis adjustment increase (decrease) (a)
(in millions)	Sept. 30, 2022		Dec. 31, 2021		Sept. 30, 2022		Dec. 31, 2021
Available-for-sale securities (b)(c)	$	32,585	$	24,400	$	(2,948)	$	590
Long-term debt	$	21,627	$	22,447	$	(1,368)	$	183

(a)    Includes $90 million and $165 million of basis adjustment increases on discontinued hedges associated with available-for-sale securities at Sept. 30, 2022 and Dec. 31, 2021, respectively, and $52 million and $72 million of basis adjustment decreases on discontinued hedges associated with long-term debt at Sept. 30, 2022 and Dec. 31, 2021, respectively.

(b)    Excludes hedged items where only foreign currency risk is the designated hedged risk, as the basis adjustments related to foreign currency hedges will not reverse through the consolidated income statement in future periods. The carrying amount excluded for available-for-sale securities was $110 million at Sept. 30, 2022 and $141 million at Dec. 31, 2021.

(c)    Carrying amount represents the amortized cost.

The following table summarizes the notional amount and carrying values of our total derivative portfolio.

Impact of derivative instruments on the balance sheet	Notional value				Asset derivatives fair value				Liability derivatives fair value
	Sept. 30, 2022		Dec. 31, 2021		Sept. 30, 2022		Dec. 31, 2021		Sept. 30, 2022		Dec. 31, 2021
(in millions)
Derivatives designated as hedging instruments: (a)(b)
Interest rate contracts	$	55,575	$	46,717	$	195	$	—	$	—	$	453
Foreign exchange contracts	8,610		10,367		680		206		25		40
Total derivatives designated as hedging instruments					$	875	$	206	$	25	$	493
Derivatives not designated as hedging instruments: (b)(c)
Interest rate contracts	$	219,878	$	193,747	$	1,532	$	3,259	$	1,804	$	2,835
Foreign exchange contracts	870,047		915,694		15,389		6,279		15,756		6,215
Equity contracts	4,304		9,659		257		49		30		211
Credit contracts	275		190		1		—		3		5
Total derivatives not designated as hedging instruments					$	17,179	$	9,587	$	17,593	$	9,266
Total derivatives fair value (d)					$	18,054	$	9,793	$	17,618	$	9,759
Effect of master netting agreements (e)					(13,047)		(6,973)		(13,652)		(6,335)
Fair value after effect of master netting agreements					$	5,007	$	2,820	$	3,966	$	3,424

(a)    The fair value of asset derivatives and liability derivatives designated as hedging instruments is recorded as other assets and other liabilities, respectively, on the consolidated balance sheet.

(b)    For derivative transactions settled at clearing organizations, cash collateral exchanged is deemed a settlement of the derivative each day. The settlement reduces the gross fair value of derivative assets and liabilities and results in a corresponding decrease in the effect of master netting agreements, with no impact to the consolidated balance sheet.

(c)    The fair value of asset derivatives and liability derivatives not designated as hedging instruments is recorded as trading assets and trading liabilities, respectively, on the consolidated balance sheet.

(d)    Fair values are on a gross basis, before consideration of master netting agreements, as required by ASC 815, Derivatives and Hedging.

(e)    Effect of master netting agreements includes cash collateral received and paid of $2,497 million and $3,102 million, respectively, at Sept. 30, 2022, and $1,424 million and $786 million, respectively, at Dec. 31, 2021.

Trading activities (including trading derivatives)

Our trading activities are focused on acting as a market-maker for our customers, facilitating customer trades and risk-mitigating economic hedging in compliance with the Volcker Rule. The change in the fair value of the derivatives utilized in our trading activities is recorded in foreign exchange revenue and investment and other revenue on the consolidated income statement.

The following table presents our foreign exchange revenue and other trading revenue.

Foreign exchange revenue and other trading revenue
(in millions)	3Q22		2Q22		3Q21		YTD22		YTD21
Foreign exchange revenue	$	203	$	222	$	185	$	632	$	600
Other trading revenue	65		45		20		115		12

Foreign exchange revenue includes income from purchasing and selling foreign currencies, currency forwards, futures and options as well as foreign currency remeasurement. Other trading revenue reflects results from trading in cash instruments, including fixed income and equity securities, and

trading and economic hedging activity with non-foreign exchange derivatives.

We also use derivative financial instruments as risk-mitigating economic hedges, which are not formally designated as accounting hedges. This includes hedging the foreign currency, interest rate or market risks inherent in some of our balance sheet exposures, such as seed capital investments and deposits, as well as certain investment management fee revenue streams. We also use total return swaps to economically hedge obligations arising from the Company’s deferred compensation plan whereby the participants defer compensation and earn a return linked to the performance of investments they select. The gains or losses on these total return swaps are recorded in staff expense on the consolidated income statement and were losses of $11 million in the third quarter of 2022, $2 million in the third quarter of 2021, $30 million in the second quarter of 2022 and $54 million in the first nine months of 2022 and a gain of $21 million in the first nine months of 2021.

We manage trading risk through a system of position limits, a value-at-risk (“VaR”) methodology based on historical simulation and other market sensitivity

measures. Risk is monitored and reported to senior management by a separate unit, independent from trading, on a daily basis. Based on certain assumptions, the VaR methodology is designed to capture the potential overnight pre-tax dollar loss from adverse changes in fair values of all trading positions. The calculation assumes a one-day holding period, utilizes a 99% confidence level and incorporates non-linear product characteristics. The VaR model is one of several statistical models used to develop economic capital results, which are allocated to lines of business for computing risk-adjusted performance.

The VaR methodology does not evaluate risk attributable to extraordinary financial, economic or other occurrences. As a result, the risk assessment process includes a number of stress scenarios based upon the risk factors in the portfolio and management’s assessment of market conditions. Additional stress scenarios based upon historical market events are also performed. Stress tests may incorporate the impact of reduced market liquidity and the breakdown of historically observed correlations and extreme scenarios. VaR and other statistical measures, stress testing and sensitivity analysis are incorporated into other risk management materials.

Counterparty credit risk and collateral

We assess the credit risk of our counterparties through regular examination of their financial statements, confidential communication with the management of those counterparties and regular monitoring of publicly available credit rating information. This and other information is used to develop proprietary credit rating metrics used to assess credit quality.

Collateral requirements are determined after a comprehensive review of the credit quality of each counterparty. Collateral is generally held or pledged in the form of cash and/or highly liquid government securities. Collateral requirements are monitored and adjusted daily.

Additional disclosures concerning derivative financial instruments are provided in Note 15.

Disclosure of contingent features in over-the-counter (“OTC”) derivative instruments

Certain OTC derivative contracts and/or collateral agreements contain credit risk-contingent features triggered upon a rating downgrade in which the counterparty has the right to request additional collateral or the right to terminate the contracts in a net liability position.

The following table shows the aggregate fair value of OTC derivative contracts in net liability positions that contained credit risk-contingent features and the value of collateral that has been posted.

	Sept. 30, 2022		Dec. 31, 2021
(in millions)
Aggregate fair value of OTC derivatives in net liability positions (a)	$	4,709	$	3,606
Collateral posted	$	5,667	$	5,388

(a)    Before consideration of cash collateral.

The aggregate fair value of OTC derivative contracts containing credit risk-contingent features can fluctuate from quarter to quarter due to changes in market conditions, composition of counterparty trades, new business or changes to the contingent features.

The Bank of New York Mellon, our largest banking subsidiary, enters into the substantial majority of our OTC derivative contracts and/or collateral agreements. As such, the contingent features may be triggered if The Bank of New York Mellon’s long-term issuer rating were downgraded.

The following table shows the fair value of contracts falling under early termination provisions that were in net liability positions for three key ratings triggers.

Potential close-out exposures (fair value) (a)
	Sept. 30, 2022		Dec. 31, 2021
(in millions)
If The Bank of New York Mellon’s rating changed to: (b)
A3/A-	$	123	$	56
Baa2/BBB	$	621	$	563
Ba1/BB+	$	1,802	$	1,778

(a)    The amounts represent potential total close-out values if The Bank of New York Mellon’s long-term issuer rating were to immediately drop to the indicated levels, and do not reflect collateral posted.

(b)    Represents ratings by Moody’s/S&P.

If The Bank of New York Mellon’s debt rating had fallen below investment grade on Sept. 30, 2022 and Dec. 31, 2021, existing collateral arrangements would have required us to post additional collateral of $253 million and $71 million, respectively.

Offsetting assets and liabilities

The following tables present derivative and financial instruments and their related offsets. There were no derivative instruments or financial instruments subject to a legally enforceable netting agreement for which we are not currently netting.

Offsetting of derivative assets and financial assets at Sept. 30, 2022
	Gross assets recognized		Gross amounts offset in the balance sheet			Net assets recognized in the balance sheet		Gross amounts not offset in the balance sheet
(in millions)					(a)			Financial instruments		Cash collateral received		Net amount
Derivatives subject to netting arrangements:
Interest rate contracts	$	1,404	$	1,054		$	350	$	57	$	—	$	293
Foreign exchange contracts	14,986		11,914			3,072		162		—		2,910
Equity and other contracts	244		79			165		20		—		145
Total derivatives subject to netting arrangements	16,634		13,047			3,587		239		—		3,348
Total derivatives not subject to netting arrangements	1,420		—			1,420		—		—		1,420
Total derivatives	18,054		13,047			5,007		239		—		4,768
Reverse repurchase agreements	60,063		45,006		(b)	15,057		14,940		—		117
Securities borrowing	8,426		—			8,426		8,001		—		425
Total	$	86,543	$	58,053		$	28,490	$	23,180	$	—	$	5,310

(a)    Includes the effect of netting agreements and net cash collateral received. The offset related to the OTC derivatives was allocated to the various types of derivatives based on the net positions.

(b)    Offsetting of reverse repurchase agreements relates to our involvement in the Fixed Income Clearing Corporation (“FICC”), where we settle government securities transactions on a net basis for payment and delivery through the Fedwire system.

Offsetting of derivative assets and financial assets at Dec. 31, 2021
	Gross assets recognized		Gross amounts offset in the balance sheet			Net assets recognized in the balance sheet		Gross amounts not offset in the balance sheet
(in millions)					(a)			Financial instruments		Cash collateral received		Net amount
Derivatives subject to netting arrangements:
Interest rate contracts	$	2,132	$	1,424		$	708	$	206	$	—	$	502
Foreign exchange contracts	6,122		5,501			621		69		—		552
Equity and other contracts	48		48			—		—		—		—
Total derivatives subject to netting arrangements	8,302		6,973			1,329		275		—		1,054
Total derivatives not subject to netting arrangements	1,491		—			1,491		—		—		1,491
Total derivatives	9,793		6,973			2,820		275		—		2,545
Reverse repurchase agreements	72,661		54,709		(b)	17,952		17,922		—		30
Securities borrowing	11,655		—			11,655		11,036		—		619
Total	$	94,109	$	61,682		$	32,427	$	29,233	$	—	$	3,194

(a)    Includes the effect of netting agreements and net cash collateral received. The offset related to the OTC derivatives was allocated to the various types of derivatives based on the net positions.

(b)    Offsetting of reverse repurchase agreements relates to our involvement in the FICC, where we settle government securities transactions on a net basis for payment and delivery through the Fedwire system.

Offsetting of derivative liabilities and financial liabilities at Sept. 30, 2022						Net liabilities recognized in the balance sheet
	Gross liabilities recognized		Gross amounts offset in the balance sheet					Gross amounts not offset in the balance sheet
(in millions)					(a)			Financial instruments		Cash collateral pledged		Net amount
Derivatives subject to netting arrangements:
Interest rate contracts	$	1,560	$	1,026		$	534	$	66	$	—	$	468
Foreign exchange contracts	14,897		12,624			2,273		391		—		1,882
Equity and other contracts	22		2			20		—		—		20
Total derivatives subject to netting arrangements	16,479		13,652			2,827		457		—		2,370
Total derivatives not subject to netting arrangements	1,139		—			1,139		—		—		1,139
Total derivatives	17,618		13,652			3,966		457		—		3,509
Repurchase agreements	54,476		45,006		(b)	9,470		9,440		29		1
Securities lending	1,869		—			1,869		1,777		—		92
Total	$	73,963	$	58,658		$	15,305	$	11,674	$	29	$	3,602

(a)    Includes the effect of netting agreements and net cash collateral paid. The offset related to the OTC derivatives was allocated to the various types of derivatives based on the net positions.

(b)    Offsetting of repurchase agreements relates to our involvement in the FICC, where we settle government securities transactions on a net basis for payment and delivery through the Fedwire system.

Offsetting of derivative liabilities and financial liabilities at Dec. 31, 2021						Net liabilities recognized in the balance sheet
	Gross liabilities recognized		Gross amounts offset in the balance sheet					Gross amounts not offset in the balance sheet
(in millions)					(a)			Financial instruments		Cash collateral pledged		Net amount
Derivatives subject to netting arrangements:
Interest rate contracts	$	3,263	$	2,028		$	1,235	$	1,197	$	—	$	38
Foreign exchange contracts	5,619		4,111			1,508		29		—		1,479
Equity and other contracts	211		196			15		—		—		15
Total derivatives subject to netting arrangements	9,093		6,335			2,758		1,226		—		1,532
Total derivatives not subject to netting arrangements	666		—			666		—		—		666
Total derivatives	9,759		6,335			3,424		1,226		—		2,198
Repurchase agreements	64,734		54,709		(b)	10,025		10,025		—		—
Securities lending	1,541		—			1,541		1,478		—		63
Total	$	76,034	$	61,044		$	14,990	$	12,729	$	—	$	2,261

(a)    Includes the effect of netting agreements and net cash collateral paid. The offset related to the OTC derivatives was allocated to the various types of derivatives based on the net positions.

(b)    Offsetting of repurchase agreements relates to our involvement in the FICC, where we settle government securities transactions on a net basis for payment and delivery through the Fedwire system.

Secured borrowings

The following table presents the contract value of repurchase agreements and securities lending transactions accounted for as secured borrowings by the type of collateral provided to counterparties.

Repurchase agreements and securities lending transactions accounted for as secured borrowings
	Sept. 30, 2022										Dec. 31, 2021
	Remaining contractual maturity								Total		Remaining contractual maturity								Total
(in millions)	Overnight and continuous		Up to 30 days		30-90 days		Over 90 days				Overnight and continuous		Up to 30 days		30-90 days		Over 90 days
Repurchase agreements:
U.S. Treasury	$	46,527	$	—	$	1,063	$	508	$	48,098	$	56,556	$	304	$	450	$	—	$	57,310
Agency RMBS	1,786		40		2		—		1,828		2,795		1		—		—		2,796
Corporate bonds	114		160		647		269		1,190		97		77		870		270		1,314
Sovereign debt/sovereign guaranteed	622		—		1		—		623		160		—		—		—		160
State and political subdivisions	27		55		250		98		430		44		16		630		155		845
U.S. government agencies	397		—		—		—		397		503		—		—		—		503
Other debt securities	4		19		9		—		32		—		30		245		—		275
Equity securities	—		26		1,852		—		1,878		—		276		1,255		—		1,531
Total	$	49,477	$	300	$	3,824	$	875	$	54,476	$	60,155	$	704	$	3,450	$	425	$	64,734
Securities lending:
Agency RMBS	$	101	$	—	$	—	$	—	$	101	$	152	$	—	$	—	$	—	$	152
Other debt securities	75		—		—		—		75		88		—		—		—		88
Equity securities	1,693		—		—		—		1,693		1,301		—		—		—		1,301
Total	$	1,869	$	—	$	—	$	—	$	1,869	$	1,541	$	—	$	—	$	—	$	1,541
Total secured borrowings	$	51,346	$	300	$	3,824	$	875	$	56,345	$	61,696	$	704	$	3,450	$	425	$	66,275

BNY Mellon’s repurchase agreements and securities lending transactions primarily encounter risk associated with liquidity. We are required to pledge collateral based on predetermined terms within the agreements. If we were to experience a decline in the fair value of the collateral pledged for these transactions, we could be required to provide additional collateral to the counterparty, therefore decreasing the amount of assets available for other liquidity needs that may arise. BNY Mellon also offers tri-party collateral agency services in the tri-party repo market where we are exposed to credit risk. In order to mitigate this risk, we require dealers to fully secure intra-day credit.

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Commitments and contingent liabilities

9 Months Ended

Sep. 30, 2022

Commitments and Contingencies Disclosure [Abstract]

Commitments and contingent liabilities

Commitments and contingent liabilities

Off-balance sheet arrangements

In the normal course of business, various commitments and contingent liabilities are outstanding that are not reflected in the accompanying consolidated balance sheets.

Our significant trading and off-balance sheet risks are securities, foreign currency and interest rate risk management products, commercial lending commitments, letters of credit and securities lending indemnifications. We assume these risks to reduce interest rate and foreign currency risks, to provide customers with the ability to meet credit and liquidity needs and to hedge foreign currency and interest rate risks. These items involve, to varying degrees, credit, foreign currency and interest rate risks not recognized on the balance sheet. Our off-balance sheet risks are managed and monitored in manners similar to those used for on-balance sheet risks.

The following table presents a summary of our off-balance sheet credit risks.

Off-balance sheet credit risks	Sept. 30, 2022		Dec. 31, 2021
(in millions)
Lending commitments	$	50,000	$	46,183
Standby letters of credit (“SBLC”) (a)	2,013		1,971
Commercial letters of credit	46		56
Securities lending indemnifications (b)(c)	482,002		487,298

(a)Net of participations totaling $138 million at Sept. 30, 2022 and $128 million at Dec. 31, 2021.

(b)Excludes the indemnification for securities for which BNY Mellon acts as an agent on behalf of CIBC Mellon clients, which totaled $71 billion at Sept. 30, 2022 and $67 billion at Dec. 31, 2021.

(c)Includes cash collateral, invested in indemnified repurchase agreements, held by us as securities lending agent of $50 billion at Sept. 30, 2022 and $48 billion at Dec. 31, 2021.

The total potential loss on undrawn lending commitments, standby and commercial letters of credit and securities lending indemnifications is equal to the total notional amount if drawn upon, which does not consider the value of any collateral.

Since many of the lending commitments are expected to expire without being drawn upon, the total amount does not necessarily represent future cash requirements. A summary of lending commitment maturities is as follows: $29.8 billion in less than one year, $19.4 billion in one to five years and $859 million over five years.

SBLCs principally support obligations of corporate clients and were collateralized with cash and securities of $161 million at Sept. 30, 2022 and $172 million at Dec. 31, 2021. At Sept. 30, 2022, $1.4 billion of the SBLCs will expire within one year, $621 million in one to five years and none over five years.

We must recognize, at the inception of an SBLC and foreign and other guarantees, a liability for the fair value of the obligation undertaken in issuing the guarantee. The fair value of the liability, which was recorded with a corresponding asset in other assets, was estimated as the present value of contractual customer fees. The estimated liability for losses related to SBLCs and foreign and other guarantees, if any, is included in the allowance for lending-related commitments.

Payment/performance risk of SBLCs is monitored using both historical performance and internal ratings criteria. BNY Mellon’s historical experience is that SBLCs typically expire without being funded. SBLCs below investment grade are monitored closely for payment/performance risk. The table below shows SBLCs by investment grade:

Standby letters of credit	Sept. 30, 2022		Dec. 31, 2021
Investment grade	76	%	85	%
Non-investment grade	24	%	15	%

A commercial letter of credit is normally a short-term instrument used to finance a commercial contract for the shipment of goods from a seller to a buyer. Although the commercial letter of credit is contingent upon the satisfaction of specified conditions, it represents a credit exposure if the buyer defaults on the underlying transaction. As a result, the total contractual amounts do not necessarily represent future cash requirements. Commercial letters of credit totaled $46 million at Sept. 30, 2022 and $56 million at Dec. 31, 2021.

We expect many of the lending commitments and letters of credit to expire without the need to advance any cash. The revenue associated with guarantees frequently depends on the credit rating of the obligor and the structure of the transaction, including collateral, if any. The allowance for lending-related commitments was $72 million at Sept. 30, 2022 and $45 million at Dec. 31, 2021.

A securities lending transaction is a fully collateralized transaction in which the owner of a security agrees to lend the security (typically through an agent, in our case, The Bank of New York Mellon) to a borrower, usually a broker-dealer or bank, on an open, overnight or term basis, under the terms of a prearranged contract.

We typically lend securities with indemnification against borrower default. We generally require the borrower to provide collateral with a minimum value of 102% of the fair value of the securities borrowed, which is monitored on a daily basis, thus reducing credit risk. Market risk can also arise in securities lending transactions. These risks are controlled through policies limiting the level of risk that can be undertaken. Securities lending transactions are generally entered into only with highly rated

counterparties. Securities lending indemnifications were secured by collateral of $506 billion at Sept. 30, 2022 and $511 billion at Dec. 31, 2021.

CIBC Mellon, a joint venture between BNY Mellon and the Canadian Imperial Bank of Commerce (“CIBC”), engages in securities lending activities.  CIBC Mellon, BNY Mellon and CIBC jointly and severally indemnify securities lenders against specific types of borrower default. At Sept. 30, 2022 and Dec. 31, 2021, $71 billion and $67 billion, respectively, of borrowings at CIBC Mellon, for which BNY Mellon acts as agent on behalf of CIBC Mellon clients, were secured by collateral of $76 billion and $71 billion, respectively. If, upon a default, a borrower’s collateral was not sufficient to cover its related obligations, certain losses related to the indemnification could be covered by the indemnitors.

Unsettled repurchase and reverse repurchase agreements

In the normal course of business, we enter into repurchase agreements and reverse repurchase agreements that settle at a future date. In repurchase agreements, BNY Mellon receives cash from and provides securities as collateral to a counterparty at settlement. In reverse repurchase agreements, BNY Mellon advances cash to and receives securities as collateral from the counterparty at settlement. These transactions are recorded on the consolidated balance sheet on the settlement date. At Sept. 30, 2022, we had $2.5 billion of unsettled repurchase agreements and $6.1 billion of unsettled reverse repurchase agreements. At Dec. 31, 2021, we had $2.6 billion of unsettled repurchase agreements and $9.1 billion of unsettled reverse repurchase agreements.

Industry concentrations

We have significant industry concentrations related to credit exposure at Sept. 30, 2022. The tables below present our credit exposure in the financial institutions and commercial portfolios.

Financial institutions portfolio exposure (in billions)	Sept. 30, 2022
	Loans		Unfunded commitments		Total exposure
Securities industry	$	1.7	$	18.8	$	20.5
Asset managers	1.6		8.0		9.6
Banks	7.3		1.5		8.8
Insurance	0.1		3.7		3.8
Government	—		0.3		0.3
Other	0.4		0.9		1.3
Total	$	11.1	$	33.2	$	44.3

Commercial portfolio exposure (in billions)	Sept. 30, 2022
	Loans		Unfunded commitments		Total exposure
Manufacturing	$	0.8	$	4.1	$	4.9
Services and other	1.0		3.1		4.1
Energy and utilities	0.2		3.7		3.9
Media and telecom	0.1		0.7		0.8
Total	$	2.1	$	11.6	$	13.7

Major concentrations in securities lending are primarily to broker-dealers and are generally collateralized with cash and/or securities.

Sponsored member repo program

BNY Mellon is a sponsoring member in the FICC sponsored member program, where we submit eligible repurchase and reverse repurchase transactions in U.S. Treasury and agency securities (“Sponsored Member Transactions”) between BNY Mellon and our sponsored member clients for novation and clearing through FICC pursuant to the FICC Government Securities Division rulebook (the “FICC Rules”). We also guarantee to FICC the prompt and full payment and performance of our sponsored member clients’ respective obligations under the FICC Rules in connection with such clients’ Sponsored Member Transactions. We minimize our credit exposure under this guaranty by obtaining a security interest in our sponsored member clients’ collateral and rights under Sponsored Member Transactions. See “Offsetting assets and liabilities” in Note 17 for additional information on our repurchase and reverse repurchase agreements.

Indemnification arrangements

We have provided standard representations for underwriting agreements, acquisition and divestiture agreements, sales of loans and commitments, and other similar types of arrangements and customary indemnification for claims and legal proceedings

related to providing financial services that are not otherwise included above. Insurance has been purchased to mitigate certain of these risks. Generally, there are no stated or notional amounts included in these indemnifications and the contingencies triggering the obligation for indemnification are not expected to occur. Furthermore, often counterparties to these transactions provide us with comparable indemnifications. We are unable to develop an estimate of the maximum payout under these indemnifications for several reasons. In addition to the lack of a stated or notional amount in a majority of such indemnifications, we are unable to predict the nature of events that would trigger indemnification or the level of indemnification for a certain event. We believe, however, that the possibility that we will have to make any material payments for these indemnifications is remote. At Sept. 30, 2022 and Dec. 31, 2021, we have not recorded any material liabilities under these arrangements.

Clearing and settlement exchanges

We are a noncontrolling equity investor in, and/or member of, several industry clearing or settlement exchanges through which foreign exchange, securities, derivatives or other transactions settle. Certain of these industry clearing and settlement exchanges require their members to guarantee their obligations and liabilities and/or to provide liquidity support in the event other members do not honor their obligations. We believe the likelihood that a clearing or settlement exchange (of which we are a member) would become insolvent is remote. Additionally, certain settlement exchanges have implemented loss allocation policies that enable the exchange to allocate settlement losses to the members of the exchange. It is not possible to quantify such mark-to-market loss until the loss occurs. Any ancillary costs that occur as a result of any mark-to-market loss cannot be quantified. In addition, we also sponsor clients as members on clearing and settlement exchanges and guarantee their obligations. At Sept. 30, 2022 and Dec. 31, 2021, we did not record any material liabilities under these arrangements.

Legal proceedings

In the ordinary course of business, The Bank of New York Mellon Corporation and its subsidiaries are routinely named as defendants in or made parties to pending and potential legal actions. We also are subject to governmental and regulatory examinations,

information-gathering requests, investigations and proceedings (both formal and informal). Claims for significant monetary damages are often asserted in many of these legal actions, while claims for disgorgement, restitution, penalties and/or other remedial actions or sanctions may be sought in governmental and regulatory matters. It is inherently difficult to predict the eventual outcomes of such matters given their complexity and the particular facts and circumstances at issue in each of these matters. However, on the basis of our current knowledge and understanding, we do not believe that judgments, settlements or orders, if any, arising from these matters (either individually or in the aggregate, after giving effect to applicable reserves and insurance coverage) will have a material adverse effect on the consolidated financial position or liquidity of BNY Mellon, although they could have a material effect on our results of operations in a given period.

In view of the inherent unpredictability of outcomes in litigation and regulatory matters, particularly where (i) the damages sought are substantial or indeterminate, (ii) the proceedings are in the early stages, or (iii) the matters involve novel legal theories or a large number of parties, as a matter of course there is considerable uncertainty surrounding the timing or ultimate resolution of litigation and regulatory matters, including a possible eventual loss, fine, penalty or business impact, if any, associated with each such matter. In accordance with applicable accounting guidance, we establish accruals for litigation and regulatory matters when those matters proceed to a stage where they present loss contingencies that are both probable and reasonably estimable. In such cases, there may be a possible exposure to loss in excess of any amounts accrued. We regularly monitor such matters for developments that could affect the amount of the accrual, and will adjust the accrual amount as appropriate. If the loss contingency in question is not both probable and reasonably estimable, we do not establish an accrual and the matter continues to be monitored for any developments that would make the loss contingency both probable and reasonably estimable. We believe that our accruals for legal proceedings are appropriate and, in the aggregate, are not material to the consolidated financial position of BNY Mellon, although future accruals could have a material effect on the results of operations in a given period. In addition, if we have the potential to recover a portion of an estimated loss from a third party, we record a

receivable up to the amount of the accrual that is probable of recovery.

For certain of those matters described here for which a loss contingency may, in the future, be reasonably possible (whether in excess of a related accrued liability or where there is no accrued liability), BNY Mellon is currently unable to estimate a range of reasonably possible loss. For those matters described here where BNY Mellon is able to estimate a reasonably possible loss, the aggregate range of such reasonably possible loss is up to $520 million in excess of the accrued liability (if any) related to those matters. For matters where a reasonably possible loss is denominated in a foreign currency, our estimate is adjusted quarterly based on prevailing exchange rates. We do not consider potential recoveries when estimating reasonably possible losses.

The following describes certain judicial, regulatory and arbitration proceedings involving BNY Mellon:

Mortgage-Securitization Trusts Proceedings

The Bank of New York Mellon has been named as a defendant in a number of legal actions brought by MBS investors alleging that the trustee has expansive duties under the governing agreements, including the duty to investigate and pursue breach of representation and warranty claims against other parties to the MBS transactions. Three actions commenced in December 2014, December 2015 and February 2017 are pending in New York federal court. In New York state court, seven actions are pending: one case commenced in May 2016; three related cases commenced in September 2021 and October 2022; and three related cases commenced in October 2021, December 2021 and February 2022.

Matters Related to R. Allen Stanford

In late December 2005, Pershing LLC (“Pershing”) became a clearing firm for Stanford Group Co. (“SGC”), a registered broker-dealer that was part of a group of entities ultimately controlled by R. Allen Stanford (“Stanford”). Stanford International Bank, also controlled by Stanford, issued certificates of deposit (“CDs”). Some investors allegedly wired funds from their SGC accounts to purchase CDs. In 2009, the Securities and Exchange Commission charged Stanford with operating a Ponzi scheme in connection with the sale of CDs, and SGC was placed into receivership. Alleged purchasers of CDs have filed two putative class action proceedings against Pershing: one in November 2009 in Texas federal

court, and one in May 2016 in New Jersey federal court. On Nov. 5, 2021, the court dismissed the class action filed in New Jersey and that matter has concluded. Three lawsuits remain against Pershing in Louisiana and New Jersey federal courts, which were filed in January 2010, October 2015 and May 2016. The purchasers allege that Pershing, as SGC’s clearing firm, assisted Stanford in a fraudulent scheme and assert contractual, statutory and common law claims. In March 2019, a group of investors filed a putative class action against The Bank of New York Mellon in New Jersey federal court, making the same allegations as in the prior actions brought against Pershing. On Nov. 12, 2021, the court dismissed the class action against The Bank of New York Mellon and that matter is on appeal. All the cases that have been brought in federal court against Pershing have been consolidated in Texas federal court for discovery purposes. Various alleged Stanford CD purchasers asserted similar claims in Financial Industry Regulatory Authority, Inc. (“FINRA”) arbitration proceedings.

Brazilian Postalis Litigation

BNY Mellon Servicos Financeiros DTVM S.A. (“DTVM”), a subsidiary that provides asset services in Brazil, acts as administrator for certain investment funds in which a public pension fund for postal workers called Postalis-Instituto de Seguridade Social dos Correios e Telégrafos (“Postalis”) invested. On Aug. 22, 2014, Postalis sued DTVM in Rio de Janeiro, Brazil for losses related to a Postalis fund for which DTVM is administrator. Postalis alleges that DTVM failed to properly perform duties, including to conduct due diligence of and exert control over the manager. On March 12, 2015, Postalis filed a lawsuit in Rio de Janeiro against DTVM and BNY Mellon Administração de Ativos Ltda. (“Ativos”) alleging failure to properly perform duties relating to another fund of which DTVM is administrator and Ativos is manager. On Dec. 14, 2015, Associacão dos Profissionais dos Correios (“ADCAP”), a Brazilian postal workers association, filed a lawsuit in São Paulo against DTVM and other defendants alleging that DTVM improperly contributed to Postalis investment losses. On March 20, 2017, the lawsuit was dismissed without prejudice, and ADCAP appealed. On Aug. 4, 2021, the appellate court overturned the dismissal and sent the lawsuit to a state lower court. On Dec. 17, 2015, Postalis filed three lawsuits in Rio de Janeiro against DTVM and Ativos alleging failure to properly perform duties with respect to investments in several other funds.

On May 20, 2021, the court in one of those lawsuits entered a judgment of approximately $3 million against DTVM and Ativos. On Aug. 23, 2021, DTVM and Ativos filed an appeal of the May 20 decision. On June 7, 2022, the appellate court partially granted and partially denied the appeal, reducing the judgment to approximately $2 million. DTVM and Ativos intend to file a further appeal. On Aug. 24, 2022, the court dismissed one of the other lawsuits. On Feb. 4, 2016, Postalis filed a lawsuit in Brasilia against DTVM, Ativos and BNY Mellon Alocação de Patrimônio Ltda. (“Alocação de Patrimônio”), an investment management subsidiary, alleging failure to properly perform duties and liability for losses with respect to investments in various funds of which the defendants were administrator and/or manager. On Jan. 16, 2018, the Brazilian Federal Prosecution Service (“MPF”) filed a civil lawsuit in São Paulo against DTVM alleging liability for Postalis losses based on alleged failures to properly perform certain duties as administrator to certain funds in which Postalis invested or as controller of Postalis’s own investment portfolio. On April 18, 2018, the court dismissed the lawsuit without prejudice. On Aug. 4, 2021, the appellate court overturned the dismissal and returned the lawsuit to the lower court. On April 11, 2022, DTVM appealed the Aug. 4 decision to Brazil’s Superior Court of Justice. In addition, the Tribunal de Contas da União (“TCU”), an administrative tribunal, has initiated three proceedings with the purpose of determining liability for losses to three investment funds administered by DTVM in which Postalis was an investor. On Sept. 9, 2020, TCU rendered a decision in one of the proceedings, finding DTVM and two former Postalis directors jointly and severally liable for approximately $50 million. TCU also imposed on DTVM a fine of approximately $2 million. DTVM’s administrative appeal of the decision was denied. On Feb. 25, 2022, DTVM filed a lawsuit in Brazil federal court in Brasilia seeking annulment of TCU’s decision and an injunction preventing TCU from enforcing the judgment. On Oct. 4, 2019, Postalis and another pension fund filed a request for arbitration in São Paulo against DTVM and Ativos alleging liability for losses to an investment fund for which DTVM was administrator and Ativos was manager. On March 26, 2021, DTVM and Ativos filed a lawsuit challenging the decision rendered by the Arbitration Court with respect to its jurisdiction over the case. On Oct. 25, 2019, Postalis filed a lawsuit in Rio de Janeiro against DTVM and Alocação de Patrimônio, alleging liability

for losses in another fund for which DTVM was administrator and Alocação de Patrimônio and Ativos were managers. On May 9, 2022, the court found DTVM and Alocação de Patrimônio jointly and severally liable for approximately $20 million. On Aug. 12, 2022, DTVM and Alocação de Patrimônio appealed the decision. On June 19, 2020, a lawsuit was filed in federal court in Rio de Janeiro against DTVM, Postalis, and various other defendants alleging liability against DTVM for certain Postalis losses in an investment fund of which DTVM was administrator. On Feb. 10, 2021, Postalis and another pension fund served DTVM in a lawsuit filed in Rio de Janeiro, alleging liability for losses in another investment fund for which DTVM was administrator and the other defendant was manager.

Brazilian Silverado Litigation

DTVM acts as administrator for the Fundo de Investimento em Direitos Creditórios Multisetorial Silverado Maximum (“Silverado Maximum Fund”), which invests in commercial credit receivables. On June 2, 2016, the Silverado Maximum Fund sued DTVM in its capacity as administrator, along with Deutsche Bank S.A. - Banco Alemão in its capacity as custodian and Silverado Gestão e Investimentos Ltda. in its capacity as investment manager. The Fund alleges that each of the defendants failed to fulfill its respective duty, and caused losses to the Fund for which the defendants are jointly and severally liable.

German Tax Matters

German authorities are investigating past “cum/ex” trading, which involved the purchase of equity securities on or shortly before the dividend date, but settled after that date, potentially resulting in an unwarranted refund of withholding tax. German authorities have taken the view that past cum/ex trading may have resulted in tax avoidance or evasion. European subsidiaries of BNY Mellon have been informed by German authorities about investigations into potential cum/ex trading by certain third-party investment funds, where one of the subsidiaries had acquired entities that served as depositary and/or fund manager for those third-party investment funds. We have received information requests from the authorities relating to pre-acquisition activity and are cooperating fully with those requests. In August 2019, the District Court of Bonn ordered that one of these subsidiaries be joined as a secondary party in connection with the prosecution of unrelated individual defendants. Trial

commenced in September 2019. In March 2020, the court stated that it would refrain from taking action against the subsidiary in order to expedite the conclusion of the trial. The court convicted the unrelated individual defendants, and determined that the cum/ex trading activities of the relevant third-party investment funds were unlawful. In November and December 2020, we received secondary liability notices from the German tax authorities totaling approximately $150 million (at then-prevailing exchange rates) related to pre-acquisition activity in various funds for which the entities we acquired were depositary and/or fund manager. We have appealed the notices. In connection with the acquisition of the subject entities, we obtained an indemnity for liabilities from the sellers that we intend to pursue as necessary.

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Business segments

9 Months Ended

Sep. 30, 2022

Segment Reporting [Abstract]

Business segments

Business segments

We have an internal information system that produces performance data along product and service lines for our three principal business segments and the Other segment. The primary products and services and types of revenue for our principal businesses and a description of the Other segment are presented in Note 24 of the Notes to Consolidated Financial Statements in our 2021 Annual Report.

Business accounting principles

Our business data has been determined on an internal management basis of accounting, rather than GAAP which is used for consolidated financial reporting. These measurement principles are designed so that reported results of the businesses will track their economic performance.

Business segment results are subject to reclassification when organizational changes are made, or for refinements in revenue and expense allocation methodologies. Refinements are typically reflected on a prospective basis. There were no reclassification or organization changes in the third quarter of 2022.

The accounting policies of the businesses are the same as those described in Note 1 of the Notes to Consolidated Financial Statements in our 2021 Annual Report.

The results of our business segments are presented and analyzed on an internal management reporting basis.

•Revenue amounts reflect fee and other revenue generated by each business and include revenue for services provided between the segments that are also provided to third parties. Fee and other revenue transferred between businesses under revenue transfer agreements is included within other fees in each segment.

•Revenues and expenses associated with specific client bases are included in those businesses. For example, foreign exchange activity associated with clients using custody products is included in the Securities Services segment.

•Net interest revenue is allocated to businesses based on the yields on the assets and liabilities generated by each business. We employ a funds transfer pricing system that matches funds with the specific assets and liabilities of each business based on their interest sensitivity and maturity characteristics.

•The provision for credit losses associated with the respective credit portfolios is reflected in each segment.

•Incentives expense related to restricted stock and RSUs is allocated to the segments.

•Support and other indirect expenses, including services provided between segments that are not provided to third parties or not subject to a revenue transfer agreement, are allocated to the businesses based on internally developed methodologies and reflected in noninterest expense.

•Recurring FDIC expense is allocated to the businesses based on average deposits generated within each business.

•Litigation expense is generally recorded in the business in which the charge occurs.

•Management of the securities portfolio is a shared service contained in the Other segment. As a result, gains and losses associated with the valuation of the securities portfolio are generally included in the Other segment.

•Client deposits serve as the primary funding source for our securities portfolio. We typically allocate all interest revenue to the businesses generating the deposits. Accordingly, accretion

related to the portion of the securities portfolio restructured in 2009 has been included in the results of the businesses.

•Balance sheet assets and liabilities and their related income or expense are specifically

assigned to each business. Segments with a net liability position have been allocated assets.

•Goodwill and intangible assets are reflected within individual businesses.

The following consolidating schedules present the contribution of our segments to our overall profitability.

For the quarter ended Sept. 30, 2022	Securities Services			Market and Wealth Services			Investment and Wealth Management				Other		Consolidated
(dollars in millions)
Total fee and other revenue	$	1,536		$	989		$	805		(a)	$	23	$	3,353		(a)
Net interest revenue (expense)	538			378			57				(47)		926
Total revenue (loss)	2,074			1,367			862			(a)	(24)		4,279			(a)
Provision for credit losses	(6)			(1)			3				(26)		(30)
Noninterest expense	1,557			737			1,356				29		3,679
Income (loss) before income taxes	$	523		$	631		$	(497)		(a)	$	(27)	$	630		(a)
Pre-tax operating margin (b)	25		%	46		%	(57)		%		N/M		15		%
Average assets	$	203,063		$	138,204		$	29,996			$	44,407	$	415,670

(a)    Total fee and other revenue, total revenue and income before income taxes are net of loss attributable to noncontrolling interests related to consolidated investment management funds of $— million.

(b)    Income before income taxes divided by total revenue.

N/M – Not meaningful.

For the quarter ended June 30, 2022	Securities Services			Market and Wealth Services			Investment and Wealth Management				Other		Consolidated
(dollars in millions)
Total fee and other revenue	$	1,549		$	974		$	837		(a)	$	75	$	3,435		(a)
Net interest revenue (expense)	457			340			62				(35)		824
Total revenue	2,006			1,314			899			(a)	40		4,259			(a)
Provision for credit losses	13			4			—				30		47
Noninterest expense	1,656			702			691				63		3,112
Income (loss) before income taxes	$	337		$	608		$	208		(a)	$	(53)	$	1,100		(a)
Pre-tax operating margin (b)	17		%	46		%	23		%		N/M		26		%
Average assets	$	219,797		$	141,952		$	33,668			$	42,206	$	437,623

(a)    Total fee and other revenue, total revenue and income before income taxes are net of loss attributable to noncontrolling interests related to consolidated investment management funds of $5 million.

(b)    Income before income taxes divided by total revenue.

N/M – Not meaningful.

For the quarter ended Sept. 30, 2021	Securities Services			Market and Wealth Services			Investment and Wealth Management				Other		Consolidated
(dollars in millions)
Total fee and other revenue	$	1,488		$	890		$	985		(a)	$	35	$	3,398		(a)
Net interest revenue (expense)	349			283			47				(38)		641
Total revenue (loss)	1,837			1,173			1,032			(a)	(3)		4,039			(a)
Provision for credit losses	(19)			(16)			(7)				(3)		(45)
Noninterest expense	1,543			668			691				16		2,918
Income (loss) before income taxes	$	313		$	521		$	348		(a)	$	(16)	$	1,166		(a)
Pre-tax operating margin (b)	17		%	44		%	34		%		N/M		29		%
Average assets	$	226,930		$	143,630		$	30,195			$	46,006	$	446,761

(a)    Total fee and other revenue, total revenue and income before income taxes are net of loss attributable to noncontrolling interests related to consolidated investment management funds of $4 million.

(b)    Income before income taxes divided by total revenue.

N/M – Not meaningful.

For the nine months ended Sept. 30, 2022	Securities Services			Market and Wealth Services			Investment and Wealth Management				Other		Consolidated
(dollars in millions)
Total fee and other revenue	$	4,488		$	2,869		$	2,549		(a)	$	118	$	10,024		(a)
Net interest revenue (expense)	1,372			1,014			176				(114)		2,448
Total revenue	5,860			3,883			2,725			(a)	4		12,472			(a)
Provision for credit losses	(3)			1			—				21		19
Noninterest expense	4,723			2,147			2,802				125		9,797
Income (loss) before income taxes	$	1,140		$	1,735		$	(77)		(a)	$	(142)	$	2,656		(a)
Pre-tax operating margin (b)	19		%	45		%	(3)		%		N/M		21		%
Average assets	$	214,518		$	140,435		$	33,077			$	43,044	$	431,074

(a)    Total fee and other revenue, total revenue and income before income taxes are net of loss attributable to noncontrolling interests related to consolidated investment management funds of $13 million.

(b)    Income before income taxes divided by total revenue.

N/M – Not meaningful.

For the nine months ended Sept. 30, 2021	Securities Services			Market and Wealth Services			Investment and Wealth Management				Other		Consolidated
(dollars in millions)
Total fee and other revenue	$	4,352		$	2,707		$	2,880		(a)	$	30	$	9,969		(a)
Net interest revenue (expense)	1,059			861			142				(121)		1,941
Total revenue (loss)	5,411			3,568			3,022			(a)	(91)		11,910			(a)
Provision for credit losses	(127)			(64)			(7)				(16)		(214)
Noninterest expense	4,362			2,002			2,077				106		8,547
Income (loss) before income taxes	$	1,176		$	1,630		$	952		(a)	$	(181)	$	3,577		(a)
Pre-tax operating margin (b)	22		%	46		%	31		%		N/M		30		%
Average assets	$	228,714		$	145,562		$	30,870			$	47,960	$	453,106

(a)    Total fee and other revenue, total revenue and income before income taxes are net of income attributable to noncontrolling interests related to consolidated investment management funds of $6 million.

(b)    Income before income taxes divided by total revenue.

N/M – Not meaningful.

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Supplemental information to the Consolidated Statement of Cash Flows

9 Months Ended

Sep. 30, 2022

Supplemental Cash Flow Information [Abstract]

Supplemental information to the Consolidated Statement of Cash Flows

Supplemental information to the Consolidated Statement of Cash Flows

Non-cash investing and financing transactions that, appropriately, are not reflected in the consolidated statement of cash flows are listed below.

Non-cash investing and financing transactions	Nine months ended Sept. 30,
(in millions)	2022		2021
Transfers from loans to other assets for other real estate owned	$	1	$	1
Change in assets of consolidated investment management funds	248		18
Change in liabilities of consolidated investment management funds	2		2
Change in nonredeemable noncontrolling interests of consolidated investment management funds	189		130
Securities purchased not settled	126		531
Securities sold not settled	—		29
Available-for-sale securities transferred to held-to-maturity securities	6,067		11,028
Premises and equipment/capitalized software funded by finance lease obligations	—		11
Premises and equipment/operating lease obligations	177		72

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Basis of presentation (Policies)

9 Months Ended

Sep. 30, 2022

Accounting Policies [Abstract]

Basis of presentation

Basis of presentation

The accounting and financial reporting policies of BNY Mellon, a global financial services company, conform to U.S. generally accepted accounting principles (“GAAP”) and prevailing industry practices. For information on our significant accounting and reporting policies, see Note 1 of the Notes to Consolidated Financial Statements in our Annual Report on Form 10-K for the year ended Dec. 31, 2021 (the “2021 Annual Report”).

The accompanying consolidated financial statements are unaudited. In the opinion of management, all adjustments necessary, consisting of normal recurring adjustments, for a fair presentation of financial position, results of operations and cash flows for the periods presented have been made. These financial statements should be read in conjunction with our Consolidated Financial Statements included in our 2021 Annual Report.

Reclassifications

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

Use of estimates

Use of estimatesThe preparation of financial statements in conformity with U.S. GAAP requires management to make estimates based upon assumptions about future economic and market conditions which affect reported amounts and related disclosures in our financial statements. Although our current estimates contemplate current conditions and how we expect them to change in the future, it is reasonably possible that actual conditions could be worse than anticipated in those estimates, which could materially affect our results of operations and financial condition.

New accounting guidance

Staff Accounting Bulletin No. 121

In March 2022, the SEC staff released Staff Accounting Bulletin No. 121 (“SAB 121”). SAB 121

expresses the staff’s views regarding the accounting for entities that have obligations to safeguard “crypto-assets” held for their platform users. SAB 121 provides that these entities should present a liability and corresponding asset in respect of the crypto-assets safeguarded for their platform users, with the liability and asset measured at the fair value of the crypto-assets. This differs from the accounting treatment of non-crypto-assets held in custody, which do not result in assets recorded on a custodian’s balance sheet. We adopted the guidance in the third quarter of 2022 and recorded a de minimis asset and liability related to digital assets we safeguard.

Fair value measurement

Fair value measurementFair value is defined as the price that would be received to sell an asset, or paid to transfer a liability, in an orderly transaction between market participants at the measurement date. A three-level hierarchy for fair value measurements is utilized based upon the transparency of inputs to the valuation of an asset or liability as of the measurement date. BNY Mellon’s own creditworthiness is considered when valuing liabilities. See Note 20 of the Notes to Consolidated Financial Statements in our 2021 Annual Report for information on how we determine fair value and the fair value hierarchy.

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Securities (Tables)

9 Months Ended

Sep. 30, 2022

Securities [Abstract]

Amortized Cost and Fair Values of Securities

The following tables present the amortized cost, the gross unrealized gains and losses and the fair value of securities at Sept. 30, 2022 and Dec. 31, 2021.

Securities at Sept. 30, 2022			Gross unrealized				Fair value
	Amortized cost
(in millions)			Gains		Losses
Available-for-sale:
U.S. Treasury	$	30,902	$	103	$	2,849	$	28,156
Sovereign debt/sovereign guaranteed	10,906		3		574		10,335
Agency residential mortgage-backed securities (“RMBS”)	8,732		119		486		8,365
Agency commercial mortgage-backed securities (“MBS”)	8,723		95		718		8,100
Supranational	8,022		3		426		7,599
Foreign covered bonds	5,546		2		268		5,280
Collateralized loan obligations (“CLOs”)	5,425		—		183		5,242
Non-agency commercial MBS	3,270		—		377		2,893
Foreign government agencies	2,449		—		134		2,315
Non-agency RMBS	2,276		50		213		2,113
U.S. government agencies	2,177		55		235		1,997
State and political subdivisions	2,187		—		321		1,866
Other asset-backed securities (“ABS”)	1,594		—		129		1,465
Corporate bonds	1,409		—		212		1,197
Other debt securities	1		—		—		1
Total securities available-for-sale (a)(b)	$	93,619	$	430	$	7,125	$	86,924
Held-to-maturity:
Agency RMBS	$	35,349	$	1	$	4,679	$	30,671
U.S. Treasury	10,715		—		966		9,749
Agency commercial MBS	4,117		—		428		3,689
U.S. government agencies	4,209		—		558		3,651
Sovereign debt/sovereign guaranteed	1,374		—		69		1,305
CLOs	983		—		44		939
Supranational	407		—		23		384
Foreign government agencies	60		—		4		56
Non-agency RMBS	30		1		1		30
State and political subdivisions	13		—		2		11
Total securities held-to-maturity (a)	$	57,257	$	2	$	6,774	$	50,485
Total securities	$	150,876	$	432	$	13,899	$	137,409

(a)    The amortized cost of available-for-sale and held-to-maturity securities are net of the allowance for credit loss of $9 million and less than $1 million, respectively. The allowance for credit loss related to available-for-sale securities primarily relates to CLOs.

(b)    Includes gross unrealized gains of $373 million and gross unrealized losses of $188 million recorded in accumulated other comprehensive income related to securities that were transferred from available-for-sale to held-to-maturity. The unrealized gains primarily relate to agency RMBS, U.S. Treasury securities and agency commercial MBS. The unrealized losses primarily relate to agency RMBS and U.S. Treasury securities. The unrealized gains and losses will be amortized into net interest revenue over the contractual lives of the securities.

Securities at Dec. 31, 2021			Gross unrealized
	Amortized cost						Fair value
(in millions)			Gains		Losses
Available-for-sale:
U.S. Treasury	$	28,966	$	771	$	328	$	29,409
Agency RMBS	14,333		270		73		14,530
Sovereign debt/sovereign guaranteed	13,367		79		67		13,379
Agency commercial MBS	8,102		345		42		8,405
Supranational	7,599		24		50		7,573
Foreign covered bonds	6,236		25		23		6,238
CLOs	4,441		3		5		4,439
Non-agency commercial MBS	3,083		65		23		3,125
Non-agency RMBS	2,641		132		25		2,748
Foreign government agencies	2,694		9		17		2,686
U.S. government agencies	2,464		99		27		2,536
State and political subdivisions	2,543		11		40		2,514
Other ABS	2,205		7		22		2,190
Corporate bonds	2,099		19		52		2,066
Other debt securities	1		—		—		1
Total securities available-for-sale (a)(b)	$	100,774	$	1,859	$	794	$	101,839
Held-to-maturity:
Agency RMBS	$	36,167	$	428	$	388	$	36,207
U.S. Treasury	11,617		36		103		11,550
Agency commercial MBS	4,068		41		52		4,057
U.S. government agencies	2,998		—		71		2,927
CLOs	983		—		1		982
Sovereign debt/sovereign guaranteed	922		18		2		938
Supranational	54		—		—		54
Non-agency RMBS	43		2		—		45
State and political subdivisions	14		1		—		15
Total securities held-to-maturity	$	56,866	$	526	$	617	$	56,775
Total securities	$	157,640	$	2,385	$	1,411	$	158,614

(a)    The amortized cost of available-for-sale securities is net of the allowance for credit loss of $10 million. The allowance for credit loss primarily relates to CLOs.

(b)    Includes gross unrealized gains of $455 million and gross unrealized losses of $75 million recorded in accumulated other comprehensive income related to securities that were transferred from available-for-sale to held-to-maturity. The unrealized gains primarily relate to U.S. Treasury securities, agency RMBS and agency commercial MBS. The unrealized losses primarily relate to U.S. Treasury securities and agency RMBS. The unrealized gains and losses will be amortized into net interest revenue over the contractual lives of the securities.

Schedule of Realized Gains, Losses, and Impairments

The following table presents the realized gains and losses, on a gross basis.

Net securities gains (losses)
(in millions)	3Q22		2Q22		3Q21		YTD22		YTD21
Realized gross gains	$	9	$	7	$	3	$	89	$	21
Realized gross losses	(8)		(7)		(1)		(84)		(17)
Total net securities gains	$	1	$	—	$	2	$	5	$	4

Pre-Tax Securities Gains (Losses) by Type

The following table presents pre-tax net securities gains (losses) by type.

Net securities gains (losses)
(in millions)	3Q22		2Q22		3Q21		YTD22		YTD21
Non-agency RMBS	$	—	$	—	$	—	$	49	$	2
U.S. Treasury	—		1		—		12		(4)
State and political subdivisions	—		—		—		(13)		—
Corporate bonds	—		(4)		—		(51)		—
Other	1		3		2		8		6
Total net securities gains	$	1	$	—	$	2	$	5	$	4

Debt Securities, Available-for-sale, Unrealized Loss Position, Fair Value

The following tables show the aggregate fair value of available-for-sale securities with a continuous unrealized loss position for less than 12 months and those that have been in a continuous unrealized loss position for 12 months or more without an allowance for credit losses.

Available-for-sale securities in an unrealized loss position without an allowance for credit losses at Sept. 30, 2022	Less than 12 months				12 months or more				Total
	Fair value		Unrealized losses		Fair value		Unrealized losses		Fair value		Unrealized losses
(in millions)
U.S. Treasury	$	22,678	$	1,942	$	5,479	$	907	$	28,157	$	2,849
Sovereign debt/sovereign guaranteed	7,361		334		1,738		240		9,099		574
Agency RMBS	7,912		416		384		70		8,296		486
Agency commercial MBS	6,602		518		1,410		200		8,012		718
Supranational	4,590		214		1,491		212		6,081		426
CLOs	4,815		164		324		15		5,139		179
Foreign covered bonds	3,657		166		945		102		4,602		268
Non-agency commercial MBS	2,249		259		594		118		2,843		377
Foreign government agencies	1,700		68		615		66		2,315		134
Non-agency RMBS	1,058		82		804		131		1,862		213
State and political subdivisions	757		128		991		193		1,748		321
U.S. government agencies	1,515		197		206		38		1,721		235
Other ABS	925		75		505		54		1,430		129
Corporate bonds	521		39		665		173		1,186		212
Total securities available-for-sale (a)	$	66,340	$	4,602	$	16,151	$	2,519	$	82,491	$	7,121

(a)    Includes $126 million gross unrealized losses for less than 12 months and $62 million of gross unrealized losses for 12 months or more recorded in accumulated other comprehensive income related to securities that were transferred from available-for-sale to held-to-maturity. The unrealized losses are primarily related to agency RMBS and U.S. Treasury securities and will be amortized into net interest revenue over the contractual lives of the securities.

Available-for-sale securities in an unrealized loss position without an allowance for credit losses at Dec. 31, 2021	Less than 12 months				12 months or more				Total
	Fair value		Unrealized losses		Fair value		Unrealized losses		Fair value		Unrealized losses
(in millions)
U.S. Treasury	$	16,855	$	235	$	1,944	$	93	$	18,799	$	328
Sovereign debt/sovereign guaranteed	6,040		66		58		1		6,098		67
Agency RMBS	4,089		44		457		29		4,546		73
Supranational	3,093		44		305		6		3,398		50
Agency commercial MBS	2,233		39		585		3		2,818		42
Foreign covered bonds	2,694		23		—		—		2,694		23
CLOs	1,808		3		318		2		2,126		5
Non-agency RMBS	1,573		20		345		5		1,918		25
State and political subdivisions	1,848		40		13		—		1,861		40
U.S. government agencies	1,780		27		—		—		1,780		27
Other ABS	1,383		20		201		2		1,584		22
Foreign government agencies	1,446		17		15		—		1,461		17
Corporate bonds	1,247		42		198		10		1,445		52
Non-agency commercial MBS	947		16		222		7		1,169		23
Total securities available-for-sale (a)	$	47,036	$	636	$	4,661	$	158	$	51,697	$	794

(a)    Includes $47 million of gross unrealized losses for less than 12 months and $28 million of gross unrealized losses for 12 months or more recorded in accumulated other comprehensive income related to securities that were transferred from available-for-sale to held-to-maturity. The unrealized losses are primarily related to U.S. Treasury securities and agency RMBS and will be amortized into net interest revenue over the contractual lives of the securities.

Debt Securities, Held-to-maturity, Credit Quality Indicator

The following tables show the credit quality of the held-to-maturity securities. We have included certain credit ratings information because the information can indicate the degree of credit risk to which we are exposed. Significant changes in ratings classifications could indicate increased credit risk for us and could be accompanied by an increase in the allowance for credit losses and/or a reduction in the fair value of our securities portfolio.

Held-to-maturity securities portfolio at Sept. 30, 2022					Ratings (a)
			Net unrealized gain (loss)								BB+ and lower
(dollars in millions)	Amortized cost				AAA/ AA-		A+/ A-		BBB+/ BBB-				Not rated
Agency RMBS	$	35,349	$	(4,678)	100	%	—	%	—	%	—	%	—	%
U.S. Treasury	10,715		(966)		100		—		—		—		—
Agency commercial MBS	4,117		(428)		100		—		—		—		—
U.S. government agencies	4,209		(558)		100		—		—		—		—
Sovereign debt/sovereign guaranteed (b)	1,374		(69)		100		—		—		—		—
CLOs	983		(44)		100		—		—		—		—
Supranational	407		(23)		100		—		—		—		—
Foreign government agencies	60		(4)		100		—		—		—		—
Non-agency RMBS	30		—		22		58		2		17		1
State and political subdivisions	13		(2)		2		2		3		—		93
Total held-to-maturity securities	$	57,257	$	(6,772)	100	%	—	%	—	%	—	%	—	%

(a)    Represents ratings by Standard & Poor’s (“S&P”) or the equivalent.

(b)    Primarily consists of exposure to Germany, France and UK.

Held-to-maturity securities portfolio at Dec. 31, 2021					Ratings (a)
			Net unrealized gain (loss)								BB+ and lower
(dollars in millions)	Amortized cost				AAA/ AA-		A+/ A-		BBB+/ BBB-				Not rated
Agency RMBS	$	36,167	$	40	100	%	—	%	—	%	—	%	—	%
U.S. Treasury	11,617		(67)		100		—		—		—		—
Agency commercial MBS	4,068		(11)		100		—		—		—		—
U.S. government agencies	2,998		(71)		100		—		—		—		—
CLOs	983		(1)		100		—		—		—		—
Sovereign debt/sovereign guaranteed (b)	922		16		100		—		—		—		—
Supranational	54		—		100		—		—		—		—
Non-agency RMBS	43		2		23		59		2		15		1
State and political subdivisions	14		1		5		2		5		—		88
Total held-to-maturity securities	$	56,866	$	(91)	100	%	—	%	—	%	—	%	—	%

(a)    Represents ratings by S&P or the equivalent.

(b)    Primarily consists of exposure to France, UK and Germany.

Maturity Distribution by Carrying Amount and Yield (on Tax Equivalent Basis) of Investment Securities Portfolio

The following table shows the maturity distribution by carrying amount and yield (on a tax equivalent basis) of our securities portfolio.

Maturity distribution and yields on securities at Sept. 30, 2022
	Within 1 year				1-5 years				5-10 years				After 10 years				Total
(dollars in millions)	Amount		Yield (a)		Amount		Yield (a)		Amount		Yield (a)		Amount		Yield (a)		Amount		Yield (a)
Available-for-sale:
U.S. Treasury	$	4,837	1.87	%	$	13,970	0.93	%	$	7,324	1.25	%	$	2,025	2.92	%	$	28,156	1.32	%
Sovereign debt/sovereign guaranteed	3,846		1.82		5,734		1.13		710		0.42		45		2.65		10,335		1.32
Supranational	1,303		1.21		4,745		1.90		1,536		2.26		15		(0.09)		7,599		1.86
Foreign covered bonds	1,131		1.66		3,619		1.64		530		0.18		—		—		5,280		1.48
Foreign government agencies	540		1.03		1,743		1.49		32		0.16		—		—		2,315		1.36
U.S. government agencies	—		—		711		2.52		1,122		2.41		164		2.54		1,997		2.46
State and political subdivisions	119		3.98		688		1.50		889		1.62		170		2.41		1,866		1.79
Corporate bonds	82		2.40		338		2.75		757		1.61		20		2.01		1,197		1.95
Other debt securities	—		—		—		—		—		—		1		3.60		1		3.60
Mortgage-backed securities:
Agency RMBS																	8,365		3.10
Non-agency RMBS																	2,113		3.32
Agency commercial MBS																	8,100		2.60
Non-agency commercial MBS																	2,893		2.81
CLOs																	5,242		3.72
Other ABS																	1,465		1.94
Total securities available-for-sale	$	11,858	1.75	%	$	31,548	1.29	%	$	12,900	1.41	%	$	2,440	2.82	%	$	86,924	1.96	%
Held-to-maturity:
U.S. Treasury	$	1,464	1.79	%	$	7,292	1.25	%	$	1,959	1.16	%	$	—	—	%	$	10,715	1.31	%
U.S. government agencies	—		—		2,309		1.40		1,639		1.56		261		1.90		4,209		1.49
Sovereign debt/sovereign guaranteed	132		0.16		1,133		0.88		109		0.95		—		—		1,374		0.82
Supranational	45		0.54		362		1.01		—		—		—		—		407		0.96
Foreign government agencies	—		—		60		0.79		—		—		—		—		60		0.79
State and political subdivisions	1		5.48		1		5.93		3		4.65		8		4.80		13		4.84
Mortgage-backed securities:
Agency RMBS																	35,349		2.29
Non-agency RMBS																	30		2.22
Agency commercial MBS																	4,117		2.31
CLOs																	983		3.80
Total securities held-to-maturity	$	1,642	1.63	%	$	11,157	1.23	%	$	3,710	1.33	%	$	269	1.98	%	$	57,257	2.03	%
Total securities	$	13,500	1.73	%	$	42,705	1.27	%	$	16,610	1.40	%	$	2,709	2.75	%	$	144,181	1.99	%

(a)    Yields are based upon the amortized cost of securities and consider the contractual coupon, amortization of premiums and accretion of discounts, excluding the effect of related hedging derivatives.

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Loans and asset quality (Tables)

9 Months Ended

Sep. 30, 2022

Receivables [Abstract]

Schedule of Loan Portfolio and Industry Concentrations of Credit Risk

The table below provides the details of our loan portfolio.

Loans	Sept. 30, 2022		Dec. 31, 2021
(in millions)
Commercial	$	2,135	$	2,128
Commercial real estate	6,299		6,033
Financial institutions	11,105		10,232
Lease financings	702		731
Wealth management loans	10,676		9,792
Wealth management mortgages	8,878		8,200
Other residential mortgages	356		299
Capital call financing	3,985		2,284
Other	2,884		2,541
Overdrafts	5,100		3,060
Margin loans	17,709		22,487
Total loans (a)	$	69,829	$	67,787

(a)    Net of unearned income of $238 million at Sept. 30, 2022 and $240 million at Dec. 31, 2021 primarily related to lease financings.

Summary of Transactions in the Allowance for Credit Losses

Activity in the allowance for credit losses on loans and lending-related commitments is presented below. This does not include activity in the allowance for credit losses related to other financial instruments, including cash and due from banks, interest-bearing deposits with banks, federal funds sold and securities purchased under resale agreements, available-for-sale securities, held-to-maturity securities and accounts receivable.

Allowance for credit losses activity for the quarter ended Sept. 30, 2022									Wealth management loans		Wealth management mortgages		Other residential mortgages		Capital call financing
(in millions)	Commercial		Commercial real estate		Financial institutions		Lease financings										Total
Beginning balance	$	16	$	184	$	21	$	1	$	1	$	7	$	7	$	6	$	243
Charge-offs	—		—		—		—		—		—		—		—		—
Recoveries	—		—		—		—		—		—		1		—		1
Net recoveries	—		—		—		—		—		—		1		—		1
Provision (a)	1		(8)		(1)		—		—		2		—		(2)		(8)
Ending balance	$	17	$	176	$	20	$	1	$	1	$	9	$	8	$	4	$	236
Allowance for:
Loan losses	$	4	$	130	$	9	$	1	$	1	$	8	$	8	$	3	$	164
Lending-related commitments	13		46		11		—		—		1		—		1		72
Individually evaluated for impairment:
Loan balance (b)	$	—	$	75	$	—	$	—	$	—	$	14	$	1	$	—	$	90
Allowance for loan losses	—		1		—		—		—		—		—		—		1

(a)    Does not include the provision for credit losses benefit related to other financial instruments of $22 million for the quarter ended Sept. 30, 2022.

(b)    Includes collateral-dependent loans of $90 million with $135 million of collateral at fair value.

Allowance for credit losses activity for the quarter ended June 30, 2022									Wealth management loans		Wealth management mortgages		Other residential mortgages		Capital call financing
(in millions)	Commercial		Commercial real estate		Financial institutions		Lease financings										Total
Beginning balance	$	12	$	176	$	15	$	1	$	1	$	9	$	7	$	3	$	224
Charge-offs	—		—		—		—		—		—		—		—		—
Recoveries	—		—		—		—		—		—		1		—		1
Net recoveries	—		—		—		—		—		—		1		—		1
Provision (a)	4		8		6		—		—		(2)		(1)		3		18
Ending balance	$	16	$	184	$	21	$	1	$	1	$	7	$	7	$	6	$	243
Allowance for:
Loan losses	$	4	$	147	$	10	$	1	$	1	$	6	$	7	$	5	$	181
Lending-related commitments	12		37		11		—		—		1		—		1		62
Individually evaluated for impairment:
Loan balance (b)	$	—	$	121	$	—	$	—	$	—	$	14	$	1	$	—	$	136
Allowance for loan losses	—		1		—		—		—		—		—		—		1

(a)    Does not include the provision for credit losses related to other financial instruments of $29 million for the quarter ended June 30, 2022.

(b)    Includes collateral-dependent loans of $136 million with $179 million of collateral at fair value.

Allowance for credit losses activity for the quarter ended Sept. 30, 2021									Wealth management loans (a)		Wealth management mortgages (a)		Other residential mortgages		Capital call financing (a)		Other		Total
(in millions)	Commercial		Commercial real estate		Financial institutions		Lease financings
Beginning balance	$	8	$	289	$	6	$	2	$	1	$	4	$	8	$	1	$	—	$	319
Charge-offs	—		—		—		—		—		—		—		—		—		—
Recoveries	—		—		—		—		—		—		1		—		—		1
Net recoveries	—		—		—		—		—		—		1		—		—		1
Provision (b)	2		(63)		2		(1)		—		—		(3)		—		16		(47)
Ending balance	$	10	$	226	$	8	$	1	$	1	$	4	$	6	$	1	$	16	$	273
Allowance for:
Loan losses	$	2	$	199	$	4	$	1	$	1	$	3	$	6	$	1	$	16	$	233
Lending-related commitments	8		27		4		—		—		1		—		—		—		40
Individually evaluated for impairment:
Loan balance (c)	$	—	$	25	$	—	$	—	$	—	$	18	$	1	$	—	$	16	$	60
Allowance for loan losses	—		3		—		—		—		—		—		—		16		19

(a)    In 2021, we began disclosing wealth management loans and wealth management mortgages separately and capital call financing loans. Beginning balances and the activity for the third quarter of 2021 have been revised to be comparable.

(b)    Does not include the provision for credit losses related to other financial instruments of $2 million for the third quarter of 2021.

(c)    Includes collateral-dependent loans of $60 million with $52 million of collateral at fair value.

Allowance for credit losses activity for the nine months ended Sept. 30, 2022													Other residential mortgages		Capital call financing		Total
(in millions)	Commercial		Commercial real estate		Financial institutions		Lease financings		Wealth management loans		Wealth management mortgages
Beginning balance	$	12	$	199	$	13	$	1	$	1	$	6	$	7	$	2	$	241
Charge-offs	—		—		—		—		—		—		—		—		—
Recoveries	—		—		—		—		—		—		3		—		3
Net recoveries	—		—		—		—		—		—		3		—		3
Provision (a)	5		(23)		7		—		—		3		(2)		2		(8)
Ending balance	$	17	$	176	$	20	$	1	$	1	$	9	$	8	$	4	$	236

(a)    Does not include the provision for credit losses related to other financial instruments of $27 million for the nine months ended Sept. 30, 2022.

Allowance for credit losses activity for the nine months ended Sept. 30, 2021													Other residential mortgages		Capital call financing (a)		Other		Total
(in millions)	Commercial		Commercial real estate		Financial institutions		Lease financings		Wealth management loans (a)		Wealth management mortgages (a)
Beginning balance	$	16	$	430	$	10	$	2	$	1	$	7	$	13	$	—	$	—	$	479
Charge-offs	—		—		—		—		—		(1)		(1)		—		—		(2)
Recoveries	—		—		2		—		—		—		4		—		—		6
Net recoveries (charge-offs)	—		—		2		—		—		(1)		3		—		—		4
Provision (b)	(6)		(204)		(4)		(1)		—		(2)		(10)		1		16		(210)
Ending balance	$	10	$	226	$	8	$	1	$	1	$	4	$	6	$	1	$	16	$	273

(a)    In 2021, we began disclosing wealth management loans and wealth management mortgages separately and capital call financing loans. Beginning balances and the activity for the first nine months of 2021 have been revised to be comparable.

(b)    Does not include the provision for credit losses benefit related to other financial instruments of $4 million for the nine months ended Sept. 30, 2021.

Distribution of Nonperforming Assets

The table below presents our nonperforming assets.

Nonperforming assets	Sept. 30, 2022						Dec. 31, 2021
	Recorded investment						Recorded investment
	With an allowance		Without an allowance				With an allowance		Without an allowance
(in millions)					Total						Total
Nonperforming loans:
Commercial real estate	$	—	$	51	$	51	$	12	$	42	$	54
Other residential mortgages	32		1		33		38		1		39
Wealth management mortgages	8		12		20		8		17		25
Total nonperforming loans	40		64		104		58		60		118
Other assets owned	—		3		3		—		2		2
Total nonperforming assets	$	40	$	67	$	107	$	58	$	62	$	120

Information about Past Due Loans

The table below presents our past due loans.

Past due loans and still accruing interest	Sept. 30, 2022								Dec. 31, 2021
	Days past due						Total past due		Days past due						Total past due
(in millions)	30-59		60-89		≥90				30-59		60-89		≥90
Wealth management loans	$	33	$	5	$	—	$	38	$	33	$	—	$	—	$	33
Wealth management mortgages	1		5		—		6		24		—		—		24
Commercial real estate	5		—		—		5		3		—		—		3
Other residential mortgages	4		1		—		5		2		1		—		3
Financial institutions	—		—		—		—		31		—		—		31
Total past due loans	$	43	$	11	$	—	$	54	$	93	$	1	$	—	$	94

Financing Receivable Credit Quality Indicators

The tables below provide information about the credit profile of the loan portfolio by the period of origination.

Credit profile of the loan portfolio													Sept. 30, 2022
													Revolving loans
	Originated, at amortized cost												Amortized cost		Converted to term loans – Amortized cost				Accrued interest receivable
(in millions)	YTD22		2021		2020		2019		2018		Prior to 2018						Total (a)
Commercial:
Investment grade	$	322	$	168	$	20	$	—	$	13	$	45	$	1,402	$	—	$	1,970
Non-investment grade	82		6		—		—		—		—		77		—		165
Total commercial	404		174		20		—		13		45		1,479		—		2,135		$	3
Commercial real estate:
Investment grade	919		1,172		458		904		212		912		296		—		4,873
Non-investment grade	416		445		145		236		109		19		33		23		1,426
Total commercial real estate	1,335		1,617		603		1,140		321		931		329		23		6,299		20
Financial institutions:
Investment grade	176		391		—		—		—		33		9,029		—		9,629
Non-investment grade	70		—		—		—		—		—		1,406		—		1,476
Total financial institutions	246		391		—		—		—		33		10,435		—		11,105		57
Wealth management loans:
Investment grade	28		58		18		47		—		228		10,264		—		10,643
Non-investment grade	—		—		—		—		—		—		33		—		33
Total wealth management loans	28		58		18		47		—		228		10,297		—		10,676		38
Wealth management mortgages	1,523		1,997		934		788		494		3,120		22		—		8,878		18
Lease financings	18		—		52		11		7		614		—		—		702		—
Other residential mortgages	—		—		—		—		—		356		—		—		356		1
Capital call financing	—		—		—		—		—		—		3,985		—		3,985		18
Other loans	—		—		—		—		—		—		2,884		—		2,884		4
Margin loans	5,259		—		—		—		—		—		12,450		—		17,709		24
Total loans	$	8,813	$	4,237	$	1,627	$	1,986	$	835	$	5,327	$	41,881	$	23	$	64,729	$	183

(a)    Excludes overdrafts of $5,100 million. Overdrafts occur on a daily basis primarily in the custody and securities clearance business and are generally repaid within two business days.

Credit profile of the loan portfolio													Dec. 31, 2021
													Revolving loans
	Originated, at amortized cost												Amortized cost		Converted to term loans – Amortized cost				Accrued interest receivable
(in millions)	2021		2020		2019		2018		2017		Prior to 2017						Total (a)
Commercial:
Investment grade	$	348	$	20	$	—	$	8	$	145	$	—	$	1,450	$	—	$	1,971
Non-investment grade	81		—		—		—		—		—		76		—		157
Total commercial	429		20		—		8		145		—		1,526		—		2,128		$	1
Commercial real estate:
Investment grade	1,577		528		683		173		298		601		205		—		4,065
Non-investment grade	660		97		568		351		50		95		121		26		1,968
Total commercial real estate	2,237		625		1,251		524		348		696		326		26		6,033		7
Financial institutions:
Investment grade	705		—		—		—		—		60		8,015		—		8,780
Non-investment grade	20		—		—		—		—		—		1,432		—		1,452
Total financial institutions	725		—		—		—		—		60		9,447		—		10,232		11
Wealth management loans:
Investment grade	117		18		73		6		104		122		9,320		—		9,760
Non-investment grade	1		—		—		—		—		—		31		—		32
Total wealth management loans	118		18		73		6		104		122		9,351		—		9,792		12
Wealth management mortgages	2,058		1,008		855		542		885		2,838		14		—		8,200		14
Lease financings	25		67		15		10		2		612		—		—		731		—
Other residential mortgages	—		—		—		—		—		299		—		—		299		1
Capital call financing	—		—		—		—		—		—		2,284		—		2,284		3
Other loans	—		—		—		—		—		—		2,541		—		2,541		2
Margin loans	7,697		—		—		—		—		—		14,790		—		22,487		10
Total loans	$	13,289	$	1,738	$	2,194	$	1,090	$	1,484	$	4,627	$	40,279	$	26	$	64,727	$	61

(a)    Excludes overdrafts of $3,060 million. Overdrafts occur on a daily basis primarily in the custody and securities clearance business and are generally repaid within two business days.

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Goodwill and intangible assets (Tables)

9 Months Ended

Sep. 30, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Breakdown of Goodwill by Business

The tables below provide a breakdown of goodwill by business segment.

Goodwill by business segment (in millions)	Securities Services		Market and Wealth Services		Investment and Wealth Management		Consolidated
Balance at Dec. 31, 2021	$	7,062	$	1,435	$	9,015	$	17,512
Impairment losses	—		—		(680)		(680)
Dispositions	(13)		—		—		(13)
Foreign currency translation	(142)		(18)		(247)		(407)
Balance at Sept. 30, 2022
Goodwill	$	6,907	$	1,417	$	8,768	$	17,092
Accumulated impairment losses	—		—		(680)		(680)
Net goodwill	$	6,907	$	1,417	$	8,088	$	16,412

Goodwill by business segment (in millions)	Securities Services		Market and Wealth Services		Investment and Wealth Management		Consolidated
Balance at Dec. 31, 2020	$	7,033	$	1,423	$	9,040	$	17,496
Dispositions	—		—		(5)		(5)
Foreign currency translation	(47)		(1)		(23)		(71)
Balance at Sept. 30, 2021	$	6,986	$	1,422	$	9,012	$	17,420

Breakdown of Intangible Assets by Business

The tables below provide a breakdown of intangible assets by business segment.

Intangible assets – net carrying amount by business segment (in millions)	Securities Services		Market and Wealth Services		Investment and Wealth Management		Other		Consolidated
Balance at Dec. 31, 2021	$	230	$	392	$	1,520	$	849	$	2,991
Amortization	(25)		(6)		(20)		—		(51)
Foreign currency translation	(8)		—		(30)		—		(38)
Balance at Sept. 30, 2022	$	197	$	386	$	1,470	$	849	$	2,902

Intangible assets – net carrying amount by business segment (in millions)	Securities Services		Market and Wealth Services		Investment and Wealth Management		Other		Consolidated
Balance at Dec. 31, 2020	$	194	$	414	$	1,555	$	849	$	3,012
Disposition	—		—		(6)		—		(6)
Amortization	(24)		(17)		(22)		—		(63)
Foreign currency translation	—		—		(2)		—		(2)
Balance at Sept. 30, 2021	$	170	$	397	$	1,525	$	849	$	2,941

Breakdown of Intangible Assets by Type

The table below provides a breakdown of intangible assets by type.

Intangible assets	Sept. 30, 2022							Dec. 31, 2021
(dollars in millions)	Gross carrying amount		Accumulated amortization		Net carrying amount		Remaining weighted- average amortization period	Gross carrying amount		Accumulated amortization		Net carrying amount
Subject to amortization: (a)
Customer contracts—Securities Services	$	733	$	(538)	$	195	11 years	$	747	$	(518)	$	229
Customer contracts—Market and Wealth Services	314		(299)		15		4 years	378		(356)		22
Customer relationships—Investment and Wealth Management	553		(456)		97		9 years	568		(456)		112
Other	47		(13)		34		14 years	47		(8)		39
Total subject to amortization	1,647		(1,306)		341		10 years	1,740		(1,338)		402
Not subject to amortization: (b)
Tradename	1,288		N/A		1,288		N/A	1,294		N/A		1,294
Customer relationships	1,273		N/A		1,273		N/A	1,295		N/A		1,295
Total not subject to amortization	2,561		N/A		2,561		N/A	2,589		N/A		2,589
Total intangible assets	$	4,208	$	(1,306)	$	2,902	N/A	$	4,329	$	(1,338)	$	2,991

(a)    Excludes fully amortized intangible assets.

(b)    Intangible assets not subject to amortization have an indefinite life.

N/A – Not applicable.

Estimated Annual Amortization Expense

Estimated annual amortization expense for current intangibles for the next five years is as follows:

For the year ended Dec. 31,	Estimated amortization expense (in millions)
2022		$	67
2023		57
2024		49
2025		42
2026		34

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Other assets (Tables)

9 Months Ended

Sep. 30, 2022

Other Assets [Abstract]

Summary of Other Assets Presented on the Consolidated Balance Sheet

The following table provides the components of other assets presented on the consolidated balance sheet.

Other assets	Sept. 30, 2022		Dec. 31, 2021
(in millions)
Corporate/bank-owned life insurance	$	5,391	$	5,359
Accounts receivable	4,838		4,178
Fails to deliver	4,622		1,561
Software	2,190		2,096
Prepaid pension assets	2,012		1,946
Cash collateral receivable on derivative transactions	1,423		304
Qualified affordable housing project investments	1,255		1,153
Renewable energy investments	907		1,027
Fair value of hedging derivatives	875		206
Prepaid expense	804		476
Equity method investments	781		939
Other equity investments (a)	642		449
Income taxes receivable	577		538
Federal Reserve Bank stock	477		472
Seed capital (b)	342		357
Assets of consolidated investment management funds	214		462
Other (c)	1,252		886
Total other assets	$	28,602	$	22,409

(a)     Includes strategic equity, private equity and other investments.

(b)    Includes investments in BNY Mellon funds which hedge deferred incentive awards.

(c)    At Sept. 30, 2022 and Dec. 31, 2021, other assets include $6 million and $7 million, respectively, of Federal Home Loan Bank stock, at cost.

Equity Securities without Readily Determinable Fair Value

The following table presents the adjustments on the non-readily marketable equity securities.

Adjustments on non-readily marketable equity securities											Life-to-date
(in millions)	3Q22		2Q22		3Q21		YTD22		YTD21
Upward adjustments	$	3	$	76	$	55	$	125	$	61	$	283
Downward adjustments	—		(7)		—		(7)		—		(11)
Net adjustments	$	3	$	69	$	55	$	118	$	61	$	272

Summary of Investments Valued Using NAV

The table below presents information on our investments valued using NAV.

Investments valued using NAV	Sept. 30, 2022					Dec. 31, 2021
(in millions)	Fair value		Unfunded  commitments			Fair value		Unfunded commitments
Seed capital (a)(b)	$	84		$	16	$	101		$	21
Private equity investments (c)	128			58		113			61
Other	4			—		4			—
Total	$	216		$	74	$	218		$	82

(a)    Primarily includes leveraged loans and structured credit funds, which are generally not redeemable. Distributions from such investments will be received as the underlying investments in the funds, which have lives of three to 11 years at both Sept. 30, 2022 and Dec. 31, 2021, are liquidated.

(b)    Includes investments in funds that relate to deferred compensation arrangements with employees.

(c)    Private equity investments primarily include Volcker Rule-compliant investments in SBICs that invest in various sectors of the economy. Private equity investments do not have redemption rights. Distributions from such investments will be received as the underlying investments in the private equity investments, which have a life of 10 years, are liquidated.

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Contract revenue (Tables)

9 Months Ended

Sep. 30, 2022

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue

The following tables present fee and other revenue related to contracts with customers, disaggregated by type of fee revenue, for each business segment. Business segment data has been determined on an internal management basis of accounting, rather than GAAP, which is used for consolidated financial reporting.

Disaggregation of contract revenue by business segment
	Quarter ended
	Sept. 30, 2022										Sept. 30, 2021
(in millions)	Securities Services		Market and Wealth Services		Investment and Wealth Management		Other		Total		Securities Services		Market and Wealth Services		Investment and Wealth Management		Other		Total
Fee and other revenue – contract revenue:
Investment services fees	$	1,233	$	903	$	26	$	(16)	$	2,146	$	1,260	$	810	$	26	$	(17)	$	2,079
Investment management and performance fees	—		5		800		(3)		802		—		5		901		(6)		900
Financing-related fees	7		3		—		1		11		4		12		—		—		16
Distribution and servicing fees	1		(23)		55		—		33		1		(2)		28		1		28
Investment and other revenue	56		49		(76)		(1)		28		35		3		(10)		—		28
Total fee and other revenue – contract revenue	1,297		937		805		(19)		3,020		1,300		828		945		(22)		3,051
Fee and other revenue – not in scope of Accounting Standards Codification (“ASC”) 606 (a)(b)	239		52		—		42		333		188		62		40		57		347
Total fee and other revenue	$	1,536	$	989	$	805	$	23	$	3,353	$	1,488	$	890	$	985	$	35	$	3,398

(a)    Primarily includes investment services fees, foreign exchange revenue, financing-related fees and investment and other revenue, all of which are accounted for using other accounting guidance.

(b)    The Investment and Wealth Management business segment is net of (loss) attributable to noncontrolling interests related to consolidated investment management funds of $— million in the third quarter of 2022 and $(4) million in the third quarter of 2021.

Disaggregation of contract revenue by business segment	Quarter ended
	June 30, 2022
(in millions)	Securities Services		Market and Wealth Services		Investment and Wealth Management		Other		Total
Fee and other revenue – contract revenue:
Investment services fees	$	1,294	$	898	$	24	$	(17)	$	2,199
Investment management and performance fees	—		6		822		(2)		826
Financing-related fees	11		4		—		—		15
Distribution and servicing fees	1		(17)		51		(1)		34
Investment and other revenue	54		38		(66)		1		27
Total fee and other revenue – contract revenue	1,360		929		831		(19)		3,101
Fee and other revenue – not in scope of ASC 606 (a)(b)	189		45		6		94		334
Total fee and other revenue	$	1,549	$	974	$	837	$	75	$	3,435

(a)    Primarily includes investment services fees, foreign exchange revenue, financing-related fees and investment and other revenue, all of which are accounted for using other accounting guidance.

(b)    The Investment and Wealth Management business segment is net of (loss) attributable to noncontrolling interests related to consolidated investment management funds of $(5) million in the second quarter of 2022.

Disaggregation of contract revenue by business segment
	Year-to-date
	Sept. 30, 2022										Sept. 30, 2021
(in millions)	Securities Services		Market and Wealth Services		Investment and Wealth Management		Other		Total		Securities Services		Market and Wealth Services		Investment and Wealth Management		Other		Total
Fee and other revenue – contract revenue:
Investment services fees	$	3,657	$	2,647	$	75	$	(50)	$	6,329	$	3,685	$	2,474	$	75	$	(51)	$	6,183
Investment management and performance fees	—		17		2,509		(11)		2,515		—		13		2,654		(15)		2,652
Financing-related fees	21		21		—		1		43		13		39		—		—		52
Distribution and servicing fees	3		(44)		138		—		97		4		(4)		84		—		84
Investment and other revenue	157		96		(169)		(1)		83		100		6		(28)		—		78
Total fee and other revenue – contract revenue	3,838		2,737		2,553		(61)		9,067		3,802		2,528		2,785		(66)		9,049
Fee and other revenue – not in scope of ASC 606 (a)(b)	650		132		(4)		179		957		550		179		95		96		920
Total fee and other revenue	$	4,488	$	2,869	$	2,549	$	118	$	10,024	$	4,352	$	2,707	$	2,880	$	30	$	9,969

(a)    Primarily includes investment services fees, foreign exchange revenue, financing-related fees and investment and other revenue, all of which are accounted for using other accounting guidance.

(b)    The Investment and Wealth Management business segment is net of (loss) income attributable to noncontrolling interests related to consolidated investment management funds of $(13) million in the first nine months of 2022 and $6 million in the first nine months of 2021.

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Net interest revenue (Tables)

9 Months Ended

Sep. 30, 2022

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, 2022		June 30, 2022		Sept. 30, 2021		Sept. 30, 2022		Sept. 30, 2021
Interest revenue
Deposits with the Federal Reserve and other central banks	$	288	$	99	$	(21)	$	389	$	(62)
Deposits with banks	67		33		12		114		37
Federal funds sold and securities purchased under resale agreements	321		116		32		474		89
Loans	581		370		238		1,211		705
Securities:
Taxable	683		509		413		1,626		1,278
Exempt from federal income taxes	9		10		11		29		31
Total securities	692		519		424		1,655		1,309
Trading securities	35		22		8		78		38
Total interest revenue	1,984		1,159		693		3,921		2,116
Interest expense
Deposits	488		90		(44)		541		(130)
Federal funds purchased and securities sold under repurchase agreements	250		77		2		339		(6)
Trading liabilities	23		10		1		37		6
Other borrowed funds	1		2		3		6		6
Customer payables	48		9		(1)		57		(2)
Long-term debt	248		147		91		493		301
Total interest expense	1,058		335		52		1,473		175
Net interest revenue	926		824		641		2,448		1,941
Provision for credit losses	(30)		47		(45)		19		(214)
Net interest revenue after provision for credit losses	$	956	$	777	$	686	$	2,429	$	2,155

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Employee benefit plans (Tables)

9 Months Ended

Sep. 30, 2022

Retirement Benefits [Abstract]

Schedule of Defined Benefit Plans Disclosures

The components of net periodic benefit (credit) cost are presented below. The service cost component is reflected in staff expense, whereas the remaining components are reflected in other expense.

Net periodic benefit (credit) cost	Quarter ended
	Sept. 30, 2022						June 30, 2022						Sept. 30, 2021
(in millions)	Domestic pension benefits		Foreign pension benefits		Health care benefits		Domestic pension benefits		Foreign pension benefits		Health care benefits		Domestic pension benefits		Foreign pension benefits		Health care benefits
Service cost	$	—	$	3	$	—	$	—	$	3	$	—	$	—	$	4	$	—
Interest cost	35		6		1		35		7		1		35		6		1
Expected return on assets	(78)		(8)		(2)		(78)		(9)		(1)		(75)		(9)		(2)
Other	17		1		(1)		17		1		(1)		24		3		—
Net periodic benefit (credit) cost	$	(26)	$	2	$	(2)	$	(26)	$	2	$	(1)	$	(16)	$	4	$	(1)

Net periodic benefit (credit) cost	Year-to-date
	Sept. 30, 2022						Sept. 30, 2021
(in millions)	Domestic pension benefits		Foreign pension benefits		Health care benefits		Domestic pension benefits		Foreign pension benefits		Health care benefits
Service cost	$	—	$	9	$	—	$	—	$	11	$	—
Interest cost	105		21		3		103		19		3
Expected return on assets	(234)		(27)		(5)		(225)		(26)		(5)
Other	51		3		(3)		73		10		—
Net periodic benefit (credit) cost	$	(78)	$	6	$	(5)	$	(49)	$	14	$	(2)

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Variable interest entities (Tables)

9 Months Ended

Sep. 30, 2022

Securitizations And Variable Interest Entities Disclosure [Abstract]

Incremental Assets and Liabilities Included in Consolidated Financial Statements

The following table presents the incremental assets and liabilities included in the consolidated balance sheet as of Sept. 30, 2022 and Dec. 31, 2021. The net assets of any consolidated VIE are solely available to settle the liabilities of the VIE and to settle any

investors’ ownership liquidation requests, including any seed capital we invested in the VIE.

Consolidated investment management funds
	Sept. 30, 2022		Dec. 31, 2021
(in millions)
Trading assets	$	206	$	443
Other assets	8		19
Total assets (a)	$	214	$	462
Other liabilities	$	1	$	3
Total liabilities (b)	$	1	$	3
Nonredeemable noncontrolling   interests (c)	$	7	$	196

(a)    Includes voting model entities (“VMEs”) with assets of $99 million at Sept. 30, 2022 and $187 million at Dec. 31, 2021.

(b)    Includes VMEs with liabilities of $1 million at Sept. 30, 2022 and $2 million at Dec. 31, 2021.

(c)    Includes VMEs with nonredeemable noncontrolling interests of $7 million at Sept. 30, 2022 and $43 million at Dec. 31, 2021.

Schedule of Variable Interest Entities

As of Sept. 30, 2022 and Dec. 31, 2021, the following assets and liabilities related to the VIEs where we are not the primary beneficiary were included in our consolidated balance sheets and primarily related to accounting for our investments in qualified affordable housing and renewable energy projects.

The maximum loss exposure indicated in the following table relates solely to our investments in, and unfunded commitments to, the VIEs.

Non-consolidated VIEs	Sept. 30, 2022						Dec. 31, 2021
(in millions)	Assets		Liabilities		Maximum loss exposure		Assets		Liabilities		Maximum loss exposure
Securities – Available-for-sale (a)	$	152	$	—	$	152	$	189	$	—	$	189
Other	2,323		595		2,932		2,385		543		2,946

(a)    Includes investments in the Company’s sponsored CLOs.

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Preferred stock (Tables)

9 Months Ended

Sep. 30, 2022

Stockholders' Equity Note [Abstract]

Preferred Stock Summary

The following table summarizes the Parent’s preferred stock issued and outstanding at Sept. 30, 2022 and Dec. 31, 2021.

Preferred stock summary (a)		Total shares issued and outstanding		Carrying value (b)
				(in millions)
		Sept. 30, 2022	Dec. 31, 2021	Sept. 30, 2022		Dec. 31, 2021
	Per annum dividend rate
Series A	Greater of (i) three-month LIBOR plus 0.565% for the related distribution period or (ii) 4.000%	5,001	5,001	$	500	$	500
Series D	4.500% to but excluding June 20, 2023, then a floating rate equal to the three-month LIBOR plus 2.46%	5,000	5,000	494		494
Series F	4.625% to but excluding Sept. 20, 2026, then a floating rate equal to the three-month LIBOR plus 3.131%	10,000	10,000	990		990
Series G	4.700% to but excluding Sept. 20, 2025, then a floating rate equal to the five-year treasury rate plus 4.358%	10,000	10,000	990		990
Series H	3.700% to but excluding March 20, 2026, then a floating rate equal to the five-year treasury rate plus 3.352%	5,825	5,825	577		577
Series I	3.750% to but excluding Dec. 20, 2026, then a floating rate equal to the five-year treasury rate plus 2.630%	13,000	13,000	1,287		1,287
Total		48,826	48,826	$	4,838	$	4,838

(a)    All outstanding preferred stock is noncumulative perpetual preferred stock with a liquidation preference of $100,000 per share.

(b)    The carrying value of the Series D, Series F, Series G, Series H and Series I preferred stock is recorded net of issuance costs.

Summary of Preferred Dividends Paid

The table below presents the Parent’s preferred dividends.

Preferred dividends
(dollars in millions, except per share amounts)	Depositary shares per share		3Q22				2Q22				3Q21				YTD22				YTD21
			Per share		Total dividend		Per share		Total dividend		Per share		Total dividend		Per share		Total dividend		Per share		Total dividend
Series A	100	(a)	$	1,011.11	$	5	$	1,022.22	$	5	$	1,011.11	$	5	$	3,044.44	$	15	$	3,033.33	$	15
Series D	100		N/A		—		2,250.00		11		N/A		—		2,250.00		11		2,250.00		11
Series E	100		N/A		N/A		N/A		N/A		898.50		10		N/A		N/A		2,735.00		28
Series F	100		2,312.50		23		N/A		—		2,312.50		23		4,625.00		46		4,625.00		46
Series G	100		2,350.00		23		N/A		—		2,350.00		23		4,700.00		47		4,700.00		47
Series H	100		925.00		6		925.00		6		925.00		5		2,775.00		17		3,258.06		19
Series I	100		937.50		12		937.50		12		N/A		N/A		3,145.83		41		N/A		N/A
Total					$	69			$	34			$	66			$	177			$	166

(a)    Represents Normal Preferred Capital Securities.

N/A – Not applicable.

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Other comprehensive income (loss) (Tables)

9 Months Ended

Sep. 30, 2022

Equity [Abstract]

Components of Other Comprehensive Income (Loss)

Components of other comprehensive income (loss)	Quarter ended
	Sept. 30, 2022						June 30, 2022						Sept. 30, 2021
(in millions)	Pre-tax amount		Tax (expense) benefit		After-tax amount		Pre-tax amount		Tax (expense) benefit		After-tax amount		Pre-tax amount		Tax (expense) benefit		After-tax amount
Foreign currency translation:
Foreign currency translation adjustments arising during the period (a)	$	(292)	$	(150)	$	(442)	$	(436)	$	(119)	$	(555)	$	(158)	$	(44)	$	(202)
Total foreign currency translation	(292)		(150)		(442)		(436)		(119)		(555)		(158)		(44)		(202)
Unrealized (loss) on assets available-for-sale:
Unrealized (loss) arising during period	(1,205)		297		(908)		(1,167)		285		(882)		(201)		51		(150)
Reclassification adjustment (b)	(1)		—		(1)		—		—		—		(2)		—		(2)
Net unrealized (loss) on assets available-for-sale	(1,206)		297		(909)		(1,167)		285		(882)		(203)		51		(152)
Defined benefit plans:
Amortization of prior service credit, net loss and initial obligation included in net periodic benefit cost (b)	17		(4)		13		17		(4)		13		28		(6)		22
Total defined benefit plans	17		(4)		13		17		(4)		13		28		(6)		22
Unrealized (loss) gain on cash flow hedges:
Unrealized hedge (loss) gain arising during period	(5)		1		(4)		(8)		2		(6)		1		—		1
Reclassification of net loss (gain) to net income:
Foreign exchange (“FX”) contracts – staff expense	3		(1)		2		1		—		1		(2)		—		(2)
FX contracts – investment and other revenue	1		—		1		—		—		—		—		—		—
Total reclassifications to net income	4		(1)		3		1		—		1		(2)		—		(2)
Net unrealized (loss) on cash flow hedges	(1)		—		(1)		(7)		2		(5)		(1)		—		(1)
Total other comprehensive (loss)	$	(1,482)	$	143	$	(1,339)	$	(1,593)	$	164	$	(1,429)	$	(334)	$	1	$	(333)

(a)    Includes the impact of hedges of net investments in foreign subsidiaries. See Note 17 for additional information.

(b)    The reclassification adjustment related to the unrealized gain (loss) on assets available-for-sale is recorded as net securities gains, which is included in investment and other revenue on the consolidated income statement. The amortization of prior service credit, net loss and initial obligation included in net periodic benefit cost is recorded as other expense on the consolidated income statement.

Components of other comprehensive income (loss)	Year-to-date
	Sept. 30, 2022						Sept. 30, 2021
(in millions)	Pre-tax amount		Tax (expense) benefit		After-tax amount		Pre-tax amount		Tax (expense) benefit		After-tax amount
Foreign currency translation:
Foreign currency translation adjustments arising during the period (a)	$	(848)	$	(302)	$	(1,150)	$	(247)	$	(54)	$	(301)
Total foreign currency translation	(848)		(302)		(1,150)		(247)		(54)		(301)
Unrealized (loss) on assets available-for-sale:
Unrealized (loss) arising during period	(4,393)		1,072		(3,321)		(1,021)		245		(776)
Reclassification adjustment (b)	(5)		1		(4)		(4)		1		(3)
Net unrealized (loss) on assets available-for-sale	(4,398)		1,073		(3,325)		(1,025)		246		(779)
Defined benefit plans:
Amortization of prior service credit, net loss and initial obligation included in net periodic benefit cost (b)	51		(7)		44		83		(14)		69
Total defined benefit plans	51		(7)		44		83		(14)		69
Unrealized (loss) gain on cash flow hedges:
Unrealized hedge (loss) gain arising during period	(16)		4		(12)		2		—		2
Reclassification of net losses (gains) to net income:
FX contracts – staff expense	4		(1)		3		(11)		2		(9)
FX contracts – investment and other revenue	1		—		1		—		—		—
Total reclassifications to net income	5		(1)		4		(11)		2		(9)
Net unrealized (loss) on cash flow hedges	(11)		3		(8)		(9)		2		(7)
Total other comprehensive (loss)	$	(5,206)	$	767	$	(4,439)	$	(1,198)	$	180	$	(1,018)

(a)    Includes the impact of hedges of net investments in foreign subsidiaries. See Note 17 for additional information.

(b)    The reclassification adjustment related to the unrealized gain (loss) on assets available-for-sale is recorded as net securities gains, which is included in investment and other revenue on the consolidated income statement. The amortization of prior service credit, net loss and initial obligation included in net periodic benefit cost is recorded as other expense on the consolidated income statement.

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Fair value measurement (Tables)

9 Months Ended

Sep. 30, 2022

Fair Value Disclosures [Abstract]

Financial Instruments Carried at Fair Value on Recurring Basis

The following tables present the financial instruments carried at fair value at Sept. 30, 2022 and Dec. 31, 2021, by caption on the consolidated balance sheet and by the three-level valuation hierarchy. We have included credit ratings information in certain of the tables because the information indicates the degree of credit risk to which we are exposed, and significant changes in ratings classifications could result in increased risk for us.

Assets measured at fair value on a recurring basis at Sept. 30, 2022												Total carrying value
(dollars in millions)	Level 1			Level 2			Level 3			Netting (a)
Available-for-sale securities:
U.S. Treasury	$	28,156		$	—		$	—		$	—	$	28,156
Sovereign debt/sovereign guaranteed	4,335			6,000			—			—		10,335
Agency RMBS	—			8,365			—			—		8,365
Agency commercial MBS	—			8,100			—			—		8,100
Supranational	—			7,599			—			—		7,599
Foreign covered bonds	—			5,280			—			—		5,280
CLOs	—			5,242			—			—		5,242
Non-agency commercial MBS	—			2,893			—			—		2,893
Foreign government agencies	—			2,315			—			—		2,315
Non-agency RMBS	—			2,113			—			—		2,113
U.S. government agencies	—			1,997			—			—		1,997
State and political subdivisions	—			1,866			—			—		1,866
Other ABS	—			1,465			—			—		1,465
Corporate bonds	—			1,197			—			—		1,197
Other debt securities	—			1			—			—		1
Total available-for-sale securities	32,491			54,433			—			—		86,924
Trading assets:
Debt instruments	2,290			1,780			—			—		4,070
Equity instruments	4,448			—			—			—		4,448
Derivative assets not designated as hedging:
Interest rate	28			1,504			—			(1,053)		479
Foreign exchange	—			15,389			—			(11,915)		3,474
Equity and other contracts	16			242			—			(79)		179
Total derivative assets not designated as hedging	44			17,135			—			(13,047)		4,132
Total trading assets	6,782			18,915			—			(13,047)		12,650
Other assets:
Derivative assets designated as hedging:
Interest rate	—			195			—			—		195
Foreign exchange	—			680			—			—		680
Total derivative assets designated as hedging	—			875			—			—		875
Other assets (b)	302			206			—			—		508
Total other assets	302			1,081			—			—		1,383
Assets measured at NAV (b)												216
Total assets	$	39,575		$	74,429		$	—		$	(13,047)	$	101,173
Percentage of total assets prior to netting	35		%	65		%	—		%

Liabilities measured at fair value on a recurring basis at Sept. 30, 2022												Total carrying value
(dollars in millions)	Level 1			Level 2			Level 3			Netting (a)
Trading liabilities:
Debt instruments	$	3,426		$	36		$	—		$	—	$	3,462
Equity instruments	91			—			—			—		91
Derivative liabilities not designated as hedging:
Interest rate	11			1,793			—			(1,025)		779
Foreign exchange	—			15,756			—			(12,625)		3,131
Equity and other contracts	—			33			—			(2)		31
Total derivative liabilities not designated as hedging	11			17,582			—			(13,652)		3,941
Total trading liabilities	3,528			17,618			—			(13,652)		7,494
Other liabilities:
Derivative liabilities designated as hedging:
Interest rate	—			—			—			—		—
Foreign exchange	—			25			—			—		25
Total derivative liabilities designated as hedging	—			25			—			—		25
Other liabilities	—			1			—			—		1
Total other liabilities	—			26			—			—		26
Total liabilities	$	3,528		$	17,644		$	—		$	(13,652)	$	7,520
Percentage of total liabilities prior to netting	17		%	83		%	—		%

(a)    ASC 815, Derivatives and Hedging, permits the netting of derivative receivables and derivative payables under legally enforceable master netting agreements and permits the netting of cash collateral. Netting is applicable to derivatives not designated as hedging instruments included in trading assets or trading liabilities and derivatives designated as hedging instruments included in other assets or other liabilities. Netting is allocated to the derivative products based on the net fair value of each product.

(b)    Includes seed capital, private equity investments and other assets.

Assets and liabilities measured at fair value on a recurring basis at Dec. 31, 2021												Total carrying value
(dollars in millions)	Level 1			Level 2			Level 3			Netting (a)
Assets
Available-for-sale securities:
U.S. Treasury	$	29,409		$	—		$	—		$	—	$	29,409
Agency RMBS	—			14,530			—			—		14,530
Sovereign debt/sovereign guaranteed	6,017			7,362			—			—		13,379
Agency commercial MBS	—			8,405			—			—		8,405
Supranational	—			7,573			—			—		7,573
Foreign covered bonds	—			6,238			—			—		6,238
CLOs	—			4,439			—			—		4,439
Non-agency commercial MBS	—			3,125			—			—		3,125
Non-agency RMBS	—			2,748			—			—		2,748
Foreign government agencies	—			2,686			—			—		2,686
U.S. government agencies	—			2,536			—			—		2,536
State and political subdivisions	—			2,514			—			—		2,514
Other ABS	—			2,190			—			—		2,190
Corporate bonds	—			2,066			—			—		2,066
Other debt securities	—			1			—			—		1
Total available-for-sale securities	35,426			66,413			—			—		101,839
Trading assets:
Debt instruments	1,447			2,750			—			—		4,197
Equity instruments	9,766			—			—			—		9,766
Derivative assets not designated as hedging:
Interest rate	6			3,253			—			(1,424)		1,835
Foreign exchange	—			6,279			—			(5,501)		778
Equity and other contracts	—			49			—			(48)		1
Total derivative assets not designated as hedging	6			9,581			—			(6,973)		2,614
Total trading assets	11,219			12,331			—			(6,973)		16,577
Other assets:
Derivative assets designated as hedging:
Foreign exchange	—			206			—			—		206
Total derivative assets designated as hedging	—			206			—			—		206
Other assets (b)	438			325			—			—		763
Total other assets	438			531			—			—		969
Assets measured at NAV (b)												218
Total assets	$	47,083		$	79,275		$	—		$	(6,973)	$	119,603
Percentage of total assets prior to netting	37		%	63		%	—		%

Liabilities
Trading liabilities:
Debt instruments	$	2,452		$	46		$	—		$	—	$	2,498
Equity instruments	40			—			—			—		40
Derivative liabilities not designated as hedging:
Interest rate	1			2,834			—			(2,028)		807
Foreign exchange	—			6,215			—			(4,111)		2,104
Equity and other contracts	5			211			—			(196)		20
Total derivative liabilities not designated as hedging	6			9,260			—			(6,335)		2,931
Total trading liabilities	2,498			9,306			—			(6,335)		5,469
Other liabilities:
Derivative liabilities designated as hedging:
Interest rate	—			453			—			—		453
Foreign exchange	—			40			—			—		40
Total derivative liabilities designated as hedging	—			493			—			—		493
Other liabilities	1			2			—			—		3
Total other liabilities	1			495			—			—		496
Total liabilities	$	2,499		$	9,801		$	—		$	(6,335)	$	5,965
Percentage of total liabilities prior to netting	20		%	80		%	—		%

(a)    ASC 815, Derivatives and Hedging, permits the netting of derivative receivables and derivative payables under legally enforceable master netting agreements and permits the netting of cash collateral. Netting is applicable to derivatives not designated as hedging instruments included in trading assets or trading liabilities and derivatives designated as hedging instruments included in other assets or other liabilities. Netting is allocated to the derivative products based on the net fair value of each product.

(b)    Includes seed capital, private equity investments and other assets.

Details Of Certain Items Measured At Fair Value on Recurring Basis

Details of certain available-for-sale securities measured at fair value on a recurring basis	Sept. 30, 2022												Dec. 31, 2021
	Total carrying value (b)		Ratings (a)										Total carrying value (b)		Ratings (a)
			AAA/ AA-		A+/ A-		BBB+/ BBB-		BB+ and lower		Not rated				AAA/ AA-		A+/ A-		BBB+/ BBB-		BB+ and lower		Not rated
(dollars in millions)
Non-agency RMBS, originated in:
2008-2022	$	1,796	100	%	—	%	—	%	—	%	—	%	$	2,190	100	%	—	%	—	%	—	%	—	%
2007	56		—		6		—		50		44		114		—		4		—		39		57
2006	91		—		33		—		50		17		181		—		24		—		33		43
2005	95		5		3		1		42		49		167		3		5		1		37		54
2004 and earlier	75		14		9		5		58		14		96		16		10		5		57		12
Total non-agency RMBS	$	2,113	86	%	2	%	—	%	7	%	5	%	$	2,748	81	%	2	%	—	%	8	%	9	%
Non-agency commercial MBS originated in:
2009-2022	$	2,893	100	%	—	%	—	%	—	%	—	%	$	3,125	100	%	—	%	—	%	—	%	—	%
Foreign covered bonds:
Canada	$	2,108	100	%	—	%	—	%	—	%	—	%	$	2,332	100	%	—	%	—	%	—	%	—	%
UK	1,088		100		—		—		—		—		1,141		100		—		—		—		—
Australia	613		100		—		—		—		—		762		100		—		—		—		—
Germany	556		100		—		—		—		—		638		100		—		—		—		—
Norway	350		100		—		—		—		—		457		100		—		—		—		—
Other	565		100		—		—		—		—		908		100		—		—		—		—
Total foreign covered bonds	$	5,280	100	%	—	%	—	%	—	%	—	%	$	6,238	100	%	—	%	—	%	—	%	—	%
Sovereign debt/sovereign guaranteed:
Germany	$	3,027	100	%	—	%	—	%	—	%	—	%	$	3,585	100	%	—	%	—	%	—	%	—	%
UK	1,693		100		—		—		—		—		1,969		100		—		—		—		—
France	1,552		100		—		—		—		—		1,921		100		—		—		—		—
Singapore	1,059		100		—		—		—		—		1,018		100		—		—		—		—
Canada	676		100		—		—		—		—		630		100		—		—		—		—
Italy	549		—		—		100		—		—		1,382		—		—		100		—		—
Hong Kong	488		100		—		—		—		—		531		100		—		—		—		—
Japan	423		—		100		—		—		—		363		—		100		—		—		—
Spain	228		—		35		65		—		—		782		—		8		92		—		—
Other (c)	640		63		18		—		19		—		1,198		71		19		—		10		—
Total sovereign debt/sovereign guaranteed	$	10,335	86	%	6	%	7	%	1	%	—	%	$	13,379	78	%	5	%	16	%	1	%	—	%
Foreign government agencies:
Canada	$	625	83	%	17	%	—	%	—	%	—	%	$	566	78	%	22	%	—	%	—	%	—	%
Norway	461		100		—		—		—		—		269		100		—		—		—		—
Netherlands	349		100		—		—		—		—		765		100		—		—		—		—
Sweden	275		100		—		—		—		—		252		100		—		—		—		—
Finland	202		100		—		—		—		—		267		100		—		—		—		—
France	177		100		—		—		—		—		301		100		—		—		—		—
Other	226		63		37		—		—		—		266		64		36		—		—		—
Total foreign government agencies	$	2,315	92	%	8	%	—	%	—	%	—	%	$	2,686	92	%	8	%	—	%	—	%	—	%

(a)    Represents ratings by S&P or the equivalent.

(b)    At Sept. 30, 2022 and Dec. 31, 2021, sovereign debt/sovereign guaranteed securities were included in Level 1 and Level 2 in the valuation hierarchy. All other assets in the table are Level 2 assets in the valuation hierarchy.

(c)    Includes non-investment grade sovereign debt/sovereign guaranteed securities related to Brazil of $122 million at Sept. 30, 2022 and $119 million at Dec. 31, 2021.

Assets Measured at Fair Value on Nonrecurring Basis

The following table presents the financial instruments carried on the consolidated balance sheet by caption and level in the fair value hierarchy as of Sept. 30, 2022 and Dec. 31, 2021.

Assets measured at fair value on a nonrecurring basis	Sept. 30, 2022								Dec. 31, 2021
							Total carrying value								Total carrying value
(in millions)	Level 1		Level 2		Level 3				Level 1		Level 2		Level 3
Loans (a)	$	—	$	35	$	—	$	35	$	—	$	42	$	—	$	42
Other assets (b)	—		437		—		437		—		265		—		265
Total assets at fair value on a nonrecurring basis	$	—	$	472	$	—	$	472	$	—	$	307	$	—	$	307

(a)    The fair value of these loans was unchanged in the third quarter of 2022 and the fourth quarter of 2021, based on the fair value of the underlying collateral, as required by guidance in ASC 326, Financial Instruments – Credit Losses, with an offset to the allowance for credit losses.

(b)    Includes non-readily marketable equity securities carried at cost with upward or downward adjustments and other assets received in satisfaction of debt.

Summary of Financial Instruments Not Carried at Fair Value

The following tables present the estimated fair value and the carrying amount of financial instruments not carried at fair value on the consolidated balance sheet at Sept. 30, 2022 and Dec. 31, 2021, by caption on the consolidated balance sheet and by the valuation hierarchy.

Summary of financial instruments	Sept. 30, 2022
(in millions)	Level 1		Level 2		Level 3		Total estimated fair value		Carrying amount
Assets:
Interest-bearing deposits with the Federal Reserve and other central banks	$	—	$	107,427	$	—	$	107,427	$	107,427
Interest-bearing deposits with banks	—		13,887		—		13,887		13,890
Federal funds sold and securities purchased under resale agreements	—		23,483		—		23,483		23,483
Securities held-to-maturity	10,750		39,735		—		50,485		57,257
Loans (a)	—		68,585		—		68,585		68,963
Other financial assets	4,707		1,671		—		6,378		6,378
Total	$	15,457	$	254,788	$	—	$	270,245	$	277,398
Liabilities:
Noninterest-bearing deposits	$	—	$	88,275	$	—	$	88,275	$	88,275
Interest-bearing deposits	—		208,794		—		208,794		213,714
Federal funds purchased and securities sold under repurchase agreements	—		11,339		—		11,339		11,339
Payables to customers and broker-dealers	—		23,741		—		23,741		23,741
Borrowings	—		683		—		683		683
Long-term debt	—		25,975		—		25,975		27,820
Total	$	—	$	358,807	$	—	$	358,807	$	365,572

(a)    Does not include the leasing portfolio.

Summary of financial instruments	Dec. 31, 2021
(in millions)	Level 1		Level 2		Level 3		Total estimated fair value		Carrying amount
Assets:
Interest-bearing deposits with the Federal Reserve and other central banks	$	—	$	102,467	$	—	$	102,467	$	102,467
Interest-bearing deposits with banks	—		16,636		—		16,636		16,630
Federal funds sold and securities purchased under resale agreements	—		29,607		—		29,607		29,607
Securities held-to-maturity	12,488		44,287		—		56,775		56,866
Loans (a)	—		67,026		—		67,026		66,860
Other financial assets	6,061		1,239		—		7,300		7,300
Total	$	18,549	$	261,262	$	—	$	279,811	$	279,730
Liabilities:
Noninterest-bearing deposits	$	—	$	93,695	$	—	$	93,695	$	93,695
Interest-bearing deposits	—		224,665		—		224,665		225,999
Federal funds purchased and securities sold under repurchase agreements	—		11,566		—		11,566		11,566
Payables to customers and broker-dealers	—		25,150		—		25,150		25,150
Borrowings	—		956		—		956		956
Long-term debt	—		26,701		—		26,701		25,931
Total	$	—	$	382,733	$	—	$	382,733	$	383,297

(a)    Does not include the leasing portfolio.

XML

Fair value option (Tables)

9 Months Ended

Sep. 30, 2022

Fair Value Disclosures [Abstract]

Assets and Liabilities of Consolidated Investment Management Funds, at Fair Value

The following table presents the assets and liabilities of consolidated investment management funds, at fair value.

Assets and liabilities of consolidated investment management funds, at fair value
	Sept. 30, 2022		Dec. 31, 2021
(in millions)
Assets of consolidated investment management funds:
Trading assets	$	206	$	443
Other assets	8		19
Total assets of consolidated investment management funds	$	214	$	462
Liabilities of consolidated investment management funds:
Other liabilities	1		3
Total liabilities of consolidated investment management funds	$	1	$	3

XML

Derivative instruments (Tables)

9 Months Ended

Sep. 30, 2022

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Gains (Losses) Related to Hedging

The following table presents the pre-tax gains (losses) related to our fair value and cash flow hedging activities recognized in the consolidated income statement.

Income statement impact of fair value and cash flow hedges
(in millions)	Location of gains (losses)	3Q22		2Q22		3Q21		YTD22		YTD21
Interest rate fair value hedges of available-for-sale securities
Derivative	Interest revenue	$	1,294	$	866	$	183	$	3,644	$	649
Hedged item	Interest revenue	(1,292)		(858)		(184)		(3,630)		(647)
Interest rate fair value hedges of long-term debt
Derivative	Interest expense	(540)		(292)		(96)		(1,573)		(427)
Hedged item	Interest expense	539		291		96		1,570		426
Foreign exchange fair value hedges of available-for-sale securities
Derivative (a)	Foreign exchange revenue	(2)		(1)		—		(4)		7
Hedged item	Foreign exchange revenue	2		2		—		5		(6)
Cash flow hedges of forecasted FX exposures
(Loss) gain reclassified from OCI into income	Staff expense	(3)		(1)		2		(4)		11
(Loss) reclassified from OCI into income	Investment and other revenue	(1)		—		—		(1)		—
(Loss) gain recognized in the consolidated income statement due to fair value and cash flow hedging relationships		$	(3)	$	7	$	1	$	7	$	13

(a)    Includes gains of less than $1 million in the third quarter of 2022, $1 million in the second quarter of 2022, less than $1 million in the third quarter of 2021 and gains of $1 million in the first nine months of 2022 and first nine months of 2021 associated with the amortization of the excluded component. At Sept. 30, 2022 and Dec. 31, 2021, the remaining accumulated OCI balance associated with the excluded component was de minimis.

Impacts of Hedging Derivatives in Net Investment Hedging Relationships

The following table presents the impact of hedging derivatives used in net investment hedging relationships.

Impact of derivative instruments used in net investment hedging relationships
(in millions)
Derivatives in net investment hedging relationships	Gain or (loss) recognized in accumulated OCI on derivatives										Location of gain or (loss) reclassified from accumulated OCI into income	Gain or (loss) reclassified from accumulated OCI into income
	3Q22		2Q22		3Q21		YTD22		YTD21			3Q22		2Q22		3Q21		YTD22		YTD21
FX contracts	$	631	$	505	$	201	$	1,279	$	221	Net interest revenue	$	—	$	—	$	—	$	—	$	—

Summary of Hedged Items in Fair Value Hedging Relationships

The following table presents information on the hedged items in fair value hedging relationships.

Hedged items in fair value hedging relationships	Carrying amount of hedged asset or liability				Hedge accounting basis adjustment increase (decrease) (a)
(in millions)	Sept. 30, 2022		Dec. 31, 2021		Sept. 30, 2022		Dec. 31, 2021
Available-for-sale securities (b)(c)	$	32,585	$	24,400	$	(2,948)	$	590
Long-term debt	$	21,627	$	22,447	$	(1,368)	$	183

(a)    Includes $90 million and $165 million of basis adjustment increases on discontinued hedges associated with available-for-sale securities at Sept. 30, 2022 and Dec. 31, 2021, respectively, and $52 million and $72 million of basis adjustment decreases on discontinued hedges associated with long-term debt at Sept. 30, 2022 and Dec. 31, 2021, respectively.

(b)    Excludes hedged items where only foreign currency risk is the designated hedged risk, as the basis adjustments related to foreign currency hedges will not reverse through the consolidated income statement in future periods. The carrying amount excluded for available-for-sale securities was $110 million at Sept. 30, 2022 and $141 million at Dec. 31, 2021.

(c)    Carrying amount represents the amortized cost.

Impact of Derivative Instruments on the Balance Sheet

The following table summarizes the notional amount and carrying values of our total derivative portfolio.

Impact of derivative instruments on the balance sheet	Notional value				Asset derivatives fair value				Liability derivatives fair value
	Sept. 30, 2022		Dec. 31, 2021		Sept. 30, 2022		Dec. 31, 2021		Sept. 30, 2022		Dec. 31, 2021
(in millions)
Derivatives designated as hedging instruments: (a)(b)
Interest rate contracts	$	55,575	$	46,717	$	195	$	—	$	—	$	453
Foreign exchange contracts	8,610		10,367		680		206		25		40
Total derivatives designated as hedging instruments					$	875	$	206	$	25	$	493
Derivatives not designated as hedging instruments: (b)(c)
Interest rate contracts	$	219,878	$	193,747	$	1,532	$	3,259	$	1,804	$	2,835
Foreign exchange contracts	870,047		915,694		15,389		6,279		15,756		6,215
Equity contracts	4,304		9,659		257		49		30		211
Credit contracts	275		190		1		—		3		5
Total derivatives not designated as hedging instruments					$	17,179	$	9,587	$	17,593	$	9,266
Total derivatives fair value (d)					$	18,054	$	9,793	$	17,618	$	9,759
Effect of master netting agreements (e)					(13,047)		(6,973)		(13,652)		(6,335)
Fair value after effect of master netting agreements					$	5,007	$	2,820	$	3,966	$	3,424

(a)    The fair value of asset derivatives and liability derivatives designated as hedging instruments is recorded as other assets and other liabilities, respectively, on the consolidated balance sheet.

(b)    For derivative transactions settled at clearing organizations, cash collateral exchanged is deemed a settlement of the derivative each day. The settlement reduces the gross fair value of derivative assets and liabilities and results in a corresponding decrease in the effect of master netting agreements, with no impact to the consolidated balance sheet.

(c)    The fair value of asset derivatives and liability derivatives not designated as hedging instruments is recorded as trading assets and trading liabilities, respectively, on the consolidated balance sheet.

(d)    Fair values are on a gross basis, before consideration of master netting agreements, as required by ASC 815, Derivatives and Hedging.

(e)    Effect of master netting agreements includes cash collateral received and paid of $2,497 million and $3,102 million, respectively, at Sept. 30, 2022, and $1,424 million and $786 million, respectively, at Dec. 31, 2021.

Revenue from Foreign Exchange and Other Trading

The following table presents our foreign exchange revenue and other trading revenue.

Foreign exchange revenue and other trading revenue
(in millions)	3Q22		2Q22		3Q21		YTD22		YTD21
Foreign exchange revenue	$	203	$	222	$	185	$	632	$	600
Other trading revenue	65		45		20		115		12

Fair Value of Derivative Contracts Falling under Early Termination Provisions that were in Net Liability Position

The following table shows the aggregate fair value of OTC derivative contracts in net liability positions that contained credit risk-contingent features and the value of collateral that has been posted.

	Sept. 30, 2022		Dec. 31, 2021
(in millions)
Aggregate fair value of OTC derivatives in net liability positions (a)	$	4,709	$	3,606
Collateral posted	$	5,667	$	5,388

(a)    Before consideration of cash collateral.

The following table shows the fair value of contracts falling under early termination provisions that were in net liability positions for three key ratings triggers.

Potential close-out exposures (fair value) (a)
	Sept. 30, 2022		Dec. 31, 2021
(in millions)
If The Bank of New York Mellon’s rating changed to: (b)
A3/A-	$	123	$	56
Baa2/BBB	$	621	$	563
Ba1/BB+	$	1,802	$	1,778

(a)    The amounts represent potential total close-out values if The Bank of New York Mellon’s long-term issuer rating were to immediately drop to the indicated levels, and do not reflect collateral posted.

(b)    Represents ratings by Moody’s/S&P.

Offsetting Assets

The following tables present derivative and financial instruments and their related offsets. There were no derivative instruments or financial instruments subject to a legally enforceable netting agreement for which we are not currently netting.

Offsetting of derivative assets and financial assets at Sept. 30, 2022
	Gross assets recognized		Gross amounts offset in the balance sheet			Net assets recognized in the balance sheet		Gross amounts not offset in the balance sheet
(in millions)					(a)			Financial instruments		Cash collateral received		Net amount
Derivatives subject to netting arrangements:
Interest rate contracts	$	1,404	$	1,054		$	350	$	57	$	—	$	293
Foreign exchange contracts	14,986		11,914			3,072		162		—		2,910
Equity and other contracts	244		79			165		20		—		145
Total derivatives subject to netting arrangements	16,634		13,047			3,587		239		—		3,348
Total derivatives not subject to netting arrangements	1,420		—			1,420		—		—		1,420
Total derivatives	18,054		13,047			5,007		239		—		4,768
Reverse repurchase agreements	60,063		45,006		(b)	15,057		14,940		—		117
Securities borrowing	8,426		—			8,426		8,001		—		425
Total	$	86,543	$	58,053		$	28,490	$	23,180	$	—	$	5,310

(a)    Includes the effect of netting agreements and net cash collateral received. The offset related to the OTC derivatives was allocated to the various types of derivatives based on the net positions.

(b)    Offsetting of reverse repurchase agreements relates to our involvement in the Fixed Income Clearing Corporation (“FICC”), where we settle government securities transactions on a net basis for payment and delivery through the Fedwire system.

Offsetting of derivative assets and financial assets at Dec. 31, 2021
	Gross assets recognized		Gross amounts offset in the balance sheet			Net assets recognized in the balance sheet		Gross amounts not offset in the balance sheet
(in millions)					(a)			Financial instruments		Cash collateral received		Net amount
Derivatives subject to netting arrangements:
Interest rate contracts	$	2,132	$	1,424		$	708	$	206	$	—	$	502
Foreign exchange contracts	6,122		5,501			621		69		—		552
Equity and other contracts	48		48			—		—		—		—
Total derivatives subject to netting arrangements	8,302		6,973			1,329		275		—		1,054
Total derivatives not subject to netting arrangements	1,491		—			1,491		—		—		1,491
Total derivatives	9,793		6,973			2,820		275		—		2,545
Reverse repurchase agreements	72,661		54,709		(b)	17,952		17,922		—		30
Securities borrowing	11,655		—			11,655		11,036		—		619
Total	$	94,109	$	61,682		$	32,427	$	29,233	$	—	$	3,194

(a)    Includes the effect of netting agreements and net cash collateral received. The offset related to the OTC derivatives was allocated to the various types of derivatives based on the net positions.

(b)    Offsetting of reverse repurchase agreements relates to our involvement in the FICC, where we settle government securities transactions on a net basis for payment and delivery through the Fedwire system.

Offsetting Liabilities

Offsetting of derivative liabilities and financial liabilities at Sept. 30, 2022						Net liabilities recognized in the balance sheet
	Gross liabilities recognized		Gross amounts offset in the balance sheet					Gross amounts not offset in the balance sheet
(in millions)					(a)			Financial instruments		Cash collateral pledged		Net amount
Derivatives subject to netting arrangements:
Interest rate contracts	$	1,560	$	1,026		$	534	$	66	$	—	$	468
Foreign exchange contracts	14,897		12,624			2,273		391		—		1,882
Equity and other contracts	22		2			20		—		—		20
Total derivatives subject to netting arrangements	16,479		13,652			2,827		457		—		2,370
Total derivatives not subject to netting arrangements	1,139		—			1,139		—		—		1,139
Total derivatives	17,618		13,652			3,966		457		—		3,509
Repurchase agreements	54,476		45,006		(b)	9,470		9,440		29		1
Securities lending	1,869		—			1,869		1,777		—		92
Total	$	73,963	$	58,658		$	15,305	$	11,674	$	29	$	3,602

(a)    Includes the effect of netting agreements and net cash collateral paid. The offset related to the OTC derivatives was allocated to the various types of derivatives based on the net positions.

(b)    Offsetting of repurchase agreements relates to our involvement in the FICC, where we settle government securities transactions on a net basis for payment and delivery through the Fedwire system.

Offsetting of derivative liabilities and financial liabilities at Dec. 31, 2021						Net liabilities recognized in the balance sheet
	Gross liabilities recognized		Gross amounts offset in the balance sheet					Gross amounts not offset in the balance sheet
(in millions)					(a)			Financial instruments		Cash collateral pledged		Net amount
Derivatives subject to netting arrangements:
Interest rate contracts	$	3,263	$	2,028		$	1,235	$	1,197	$	—	$	38
Foreign exchange contracts	5,619		4,111			1,508		29		—		1,479
Equity and other contracts	211		196			15		—		—		15
Total derivatives subject to netting arrangements	9,093		6,335			2,758		1,226		—		1,532
Total derivatives not subject to netting arrangements	666		—			666		—		—		666
Total derivatives	9,759		6,335			3,424		1,226		—		2,198
Repurchase agreements	64,734		54,709		(b)	10,025		10,025		—		—
Securities lending	1,541		—			1,541		1,478		—		63
Total	$	76,034	$	61,044		$	14,990	$	12,729	$	—	$	2,261

(a)    Includes the effect of netting agreements and net cash collateral paid. The offset related to the OTC derivatives was allocated to the various types of derivatives based on the net positions.

(b)    Offsetting of repurchase agreements relates to our involvement in the FICC, where we settle government securities transactions on a net basis for payment and delivery through the Fedwire system.

Transfer of Certain Financial Assets Accounted for as Secured Borrowings

The following table presents the contract value of repurchase agreements and securities lending transactions accounted for as secured borrowings by the type of collateral provided to counterparties.

Repurchase agreements and securities lending transactions accounted for as secured borrowings
	Sept. 30, 2022										Dec. 31, 2021
	Remaining contractual maturity								Total		Remaining contractual maturity								Total
(in millions)	Overnight and continuous		Up to 30 days		30-90 days		Over 90 days				Overnight and continuous		Up to 30 days		30-90 days		Over 90 days
Repurchase agreements:
U.S. Treasury	$	46,527	$	—	$	1,063	$	508	$	48,098	$	56,556	$	304	$	450	$	—	$	57,310
Agency RMBS	1,786		40		2		—		1,828		2,795		1		—		—		2,796
Corporate bonds	114		160		647		269		1,190		97		77		870		270		1,314
Sovereign debt/sovereign guaranteed	622		—		1		—		623		160		—		—		—		160
State and political subdivisions	27		55		250		98		430		44		16		630		155		845
U.S. government agencies	397		—		—		—		397		503		—		—		—		503
Other debt securities	4		19		9		—		32		—		30		245		—		275
Equity securities	—		26		1,852		—		1,878		—		276		1,255		—		1,531
Total	$	49,477	$	300	$	3,824	$	875	$	54,476	$	60,155	$	704	$	3,450	$	425	$	64,734
Securities lending:
Agency RMBS	$	101	$	—	$	—	$	—	$	101	$	152	$	—	$	—	$	—	$	152
Other debt securities	75		—		—		—		75		88		—		—		—		88
Equity securities	1,693		—		—		—		1,693		1,301		—		—		—		1,301
Total	$	1,869	$	—	$	—	$	—	$	1,869	$	1,541	$	—	$	—	$	—	$	1,541
Total secured borrowings	$	51,346	$	300	$	3,824	$	875	$	56,345	$	61,696	$	704	$	3,450	$	425	$	66,275

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Commitments and contingent liabilities (Tables)

9 Months Ended

Sep. 30, 2022

Commitments and Contingencies Disclosure [Abstract]

Summary of Off-Balance Sheet Credit Risks, Net of Participations

The following table presents a summary of our off-balance sheet credit risks.

Off-balance sheet credit risks	Sept. 30, 2022		Dec. 31, 2021
(in millions)
Lending commitments	$	50,000	$	46,183
Standby letters of credit (“SBLC”) (a)	2,013		1,971
Commercial letters of credit	46		56
Securities lending indemnifications (b)(c)	482,002		487,298

(a)Net of participations totaling $138 million at Sept. 30, 2022 and $128 million at Dec. 31, 2021.

(b)Excludes the indemnification for securities for which BNY Mellon acts as an agent on behalf of CIBC Mellon clients, which totaled $71 billion at Sept. 30, 2022 and $67 billion at Dec. 31, 2021.

(c)Includes cash collateral, invested in indemnified repurchase agreements, held by us as securities lending agent of $50 billion at Sept. 30, 2022 and $48 billion at Dec. 31, 2021.

Standby Letters of Credits by Investment Grade

The table below shows SBLCs by investment grade:

Standby letters of credit	Sept. 30, 2022		Dec. 31, 2021
Investment grade	76	%	85	%
Non-investment grade	24	%	15	%

Summary of Credit Exposure in the Financial Institutions and Commercial Portfolios

The tables below present our credit exposure in the financial institutions and commercial portfolios.

Financial institutions portfolio exposure (in billions)	Sept. 30, 2022
	Loans		Unfunded commitments		Total exposure
Securities industry	$	1.7	$	18.8	$	20.5
Asset managers	1.6		8.0		9.6
Banks	7.3		1.5		8.8
Insurance	0.1		3.7		3.8
Government	—		0.3		0.3
Other	0.4		0.9		1.3
Total	$	11.1	$	33.2	$	44.3

Commercial portfolio exposure (in billions)	Sept. 30, 2022
	Loans		Unfunded commitments		Total exposure
Manufacturing	$	0.8	$	4.1	$	4.9
Services and other	1.0		3.1		4.1
Energy and utilities	0.2		3.7		3.9
Media and telecom	0.1		0.7		0.8
Total	$	2.1	$	11.6	$	13.7

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Business segments (Tables)

9 Months Ended

Sep. 30, 2022

Segment Reporting [Abstract]

Contribution of Segments to Overall Profitability

The following consolidating schedules present the contribution of our segments to our overall profitability.

For the quarter ended Sept. 30, 2022	Securities Services			Market and Wealth Services			Investment and Wealth Management				Other		Consolidated
(dollars in millions)
Total fee and other revenue	$	1,536		$	989		$	805		(a)	$	23	$	3,353		(a)
Net interest revenue (expense)	538			378			57				(47)		926
Total revenue (loss)	2,074			1,367			862			(a)	(24)		4,279			(a)
Provision for credit losses	(6)			(1)			3				(26)		(30)
Noninterest expense	1,557			737			1,356				29		3,679
Income (loss) before income taxes	$	523		$	631		$	(497)		(a)	$	(27)	$	630		(a)
Pre-tax operating margin (b)	25		%	46		%	(57)		%		N/M		15		%
Average assets	$	203,063		$	138,204		$	29,996			$	44,407	$	415,670

(a)    Total fee and other revenue, total revenue and income before income taxes are net of loss attributable to noncontrolling interests related to consolidated investment management funds of $— million.

(b)    Income before income taxes divided by total revenue.

N/M – Not meaningful.

For the quarter ended June 30, 2022	Securities Services			Market and Wealth Services			Investment and Wealth Management				Other		Consolidated
(dollars in millions)
Total fee and other revenue	$	1,549		$	974		$	837		(a)	$	75	$	3,435		(a)
Net interest revenue (expense)	457			340			62				(35)		824
Total revenue	2,006			1,314			899			(a)	40		4,259			(a)
Provision for credit losses	13			4			—				30		47
Noninterest expense	1,656			702			691				63		3,112
Income (loss) before income taxes	$	337		$	608		$	208		(a)	$	(53)	$	1,100		(a)
Pre-tax operating margin (b)	17		%	46		%	23		%		N/M		26		%
Average assets	$	219,797		$	141,952		$	33,668			$	42,206	$	437,623

(a)    Total fee and other revenue, total revenue and income before income taxes are net of loss attributable to noncontrolling interests related to consolidated investment management funds of $5 million.

(b)    Income before income taxes divided by total revenue.

N/M – Not meaningful.

For the quarter ended Sept. 30, 2021	Securities Services			Market and Wealth Services			Investment and Wealth Management				Other		Consolidated
(dollars in millions)
Total fee and other revenue	$	1,488		$	890		$	985		(a)	$	35	$	3,398		(a)
Net interest revenue (expense)	349			283			47				(38)		641
Total revenue (loss)	1,837			1,173			1,032			(a)	(3)		4,039			(a)
Provision for credit losses	(19)			(16)			(7)				(3)		(45)
Noninterest expense	1,543			668			691				16		2,918
Income (loss) before income taxes	$	313		$	521		$	348		(a)	$	(16)	$	1,166		(a)
Pre-tax operating margin (b)	17		%	44		%	34		%		N/M		29		%
Average assets	$	226,930		$	143,630		$	30,195			$	46,006	$	446,761

(a)    Total fee and other revenue, total revenue and income before income taxes are net of loss attributable to noncontrolling interests related to consolidated investment management funds of $4 million.

(b)    Income before income taxes divided by total revenue.

N/M – Not meaningful.

For the nine months ended Sept. 30, 2022	Securities Services			Market and Wealth Services			Investment and Wealth Management				Other		Consolidated
(dollars in millions)
Total fee and other revenue	$	4,488		$	2,869		$	2,549		(a)	$	118	$	10,024		(a)
Net interest revenue (expense)	1,372			1,014			176				(114)		2,448
Total revenue	5,860			3,883			2,725			(a)	4		12,472			(a)
Provision for credit losses	(3)			1			—				21		19
Noninterest expense	4,723			2,147			2,802				125		9,797
Income (loss) before income taxes	$	1,140		$	1,735		$	(77)		(a)	$	(142)	$	2,656		(a)
Pre-tax operating margin (b)	19		%	45		%	(3)		%		N/M		21		%
Average assets	$	214,518		$	140,435		$	33,077			$	43,044	$	431,074

(a)    Total fee and other revenue, total revenue and income before income taxes are net of loss attributable to noncontrolling interests related to consolidated investment management funds of $13 million.

(b)    Income before income taxes divided by total revenue.

N/M – Not meaningful.

For the nine months ended Sept. 30, 2021	Securities Services			Market and Wealth Services			Investment and Wealth Management				Other		Consolidated
(dollars in millions)
Total fee and other revenue	$	4,352		$	2,707		$	2,880		(a)	$	30	$	9,969		(a)
Net interest revenue (expense)	1,059			861			142				(121)		1,941
Total revenue (loss)	5,411			3,568			3,022			(a)	(91)		11,910			(a)
Provision for credit losses	(127)			(64)			(7)				(16)		(214)
Noninterest expense	4,362			2,002			2,077				106		8,547
Income (loss) before income taxes	$	1,176		$	1,630		$	952		(a)	$	(181)	$	3,577		(a)
Pre-tax operating margin (b)	22		%	46		%	31		%		N/M		30		%
Average assets	$	228,714		$	145,562		$	30,870			$	47,960	$	453,106

(a)    Total fee and other revenue, total revenue and income before income taxes are net of income attributable to noncontrolling interests related to consolidated investment management funds of $6 million.

(b)    Income before income taxes divided by total revenue.

N/M – Not meaningful.

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Supplemental information to the Consolidated Statement of Cash Flows (Tables)

9 Months Ended

Sep. 30, 2022

Supplemental Cash Flow Information [Abstract]

Noncash Investing and Financing Transactions that are Not Reflected in Consolidated Statement of Cash Flows

Non-cash investing and financing transactions that, appropriately, are not reflected in the consolidated statement of cash flows are listed below.

Non-cash investing and financing transactions	Nine months ended Sept. 30,
(in millions)	2022		2021
Transfers from loans to other assets for other real estate owned	$	1	$	1
Change in assets of consolidated investment management funds	248		18
Change in liabilities of consolidated investment management funds	2		2
Change in nonredeemable noncontrolling interests of consolidated investment management funds	189		130
Securities purchased not settled	126		531
Securities sold not settled	—		29
Available-for-sale securities transferred to held-to-maturity securities	6,067		11,028
Premises and equipment/capitalized software funded by finance lease obligations	—		11
Premises and equipment/operating lease obligations	177		72

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Acquisitions and dispositions - Narrative (Details) - USD ($)		9 Months Ended
	Aug. 01, 2022	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021	Dec. 31, 2020
Business Acquisition [Line Items]
Contingent payments		$ 0
Goodwill		16,412,000,000	$ 17,420,000,000	$ 17,512,000,000	$ 17,496,000,000
Dispositions		13,000,000	$ 5,000,000
Disposed of by sale | HedgeMark Advisors
Business Acquisition [Line Items]
Gain on sale of business	$ 37,000,000
Dispositions	$ 13,000,000
Acquisition in 2022
Business Acquisition [Line Items]
Potential obligation to pay additional consideration, lower range		15,000,000
Potential obligation to pay additional consideration, upper range		$ 45,000,000
Period for contingent consideration payment		3 years
Acquisition in 2021
Business Acquisition [Line Items]
Goodwill				99,000,000
Intangible assets acquired				$ 70,000,000

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Securities - Amortized Cost, Gross Unrealized Gains and Losses and Fair Value (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Available-for-sale:
Amortized cost	$ 93,619	$ 100,774
Gross unrealized, Gain	430	1,859
Gross unrealized, Loss	7,125	794
Available-for-sale, amount	86,924	101,839
Held-to-maturity:
Amortized cost	57,257	56,866
Gross unrealized, Gains	2	526
Gross unrealized, Losses	6,774	617
Securities held-to-maturity	50,485	56,775
Amortized cost, Total	150,876	157,640
Gross unrealized, Gain, Total	432	2,385
Gross unrealized, Losses, Total	13,899	1,411
Fair value, Total	137,409	158,614
Debt securities, available-for-sale, allowance for credit loss	9	10
Debt securities, held-to-maturity, allowance for credit loss (less than)	1	1
Debt securities, available-for-sale and held-to-maturity, allowance for credit loss	9	10
AOCI, transfers from AFS to HTM Securities, gross unrealized gains	373	455
AOCI, transfers from AFS to HTM Securities, gross unrealized losses	188	75
U.S. Treasury
Available-for-sale:
Amortized cost	30,902	28,966
Gross unrealized, Gain	103	771
Gross unrealized, Loss	2,849	328
Available-for-sale, amount	28,156	29,409
Held-to-maturity:
Amortized cost	10,715	11,617
Gross unrealized, Gains	0	36
Gross unrealized, Losses	966	103
Securities held-to-maturity	9,749	11,550
Sovereign debt/sovereign guaranteed
Available-for-sale:
Amortized cost	10,906	13,367
Gross unrealized, Gain	3	79
Gross unrealized, Loss	574	67
Available-for-sale, amount	10,335	13,379
Held-to-maturity:
Amortized cost	1,374	922
Gross unrealized, Gains	0	18
Gross unrealized, Losses	69	2
Securities held-to-maturity	1,305	938
Agency residential mortgage-backed securities (“RMBS”)
Available-for-sale:
Amortized cost	8,732	14,333
Gross unrealized, Gain	119	270
Gross unrealized, Loss	486	73
Available-for-sale, amount	8,365	14,530
Held-to-maturity:
Amortized cost	35,349	36,167
Gross unrealized, Gains	1	428
Gross unrealized, Losses	4,679	388
Securities held-to-maturity	30,671	36,207
Agency commercial mortgage-backed securities (“MBS”)
Available-for-sale:
Amortized cost	8,723	8,102
Gross unrealized, Gain	95	345
Gross unrealized, Loss	718	42
Available-for-sale, amount	8,100	8,405
Held-to-maturity:
Amortized cost	4,117	4,068
Gross unrealized, Gains	0	41
Gross unrealized, Losses	428	52
Securities held-to-maturity	3,689	4,057
Supranational
Available-for-sale:
Amortized cost	8,022	7,599
Gross unrealized, Gain	3	24
Gross unrealized, Loss	426	50
Available-for-sale, amount	7,599	7,573
Held-to-maturity:
Amortized cost	407	54
Gross unrealized, Gains	0	0
Gross unrealized, Losses	23	0
Securities held-to-maturity	384	54
Foreign covered bonds
Available-for-sale:
Amortized cost	5,546	6,236
Gross unrealized, Gain	2	25
Gross unrealized, Loss	268	23
Available-for-sale, amount	5,280	6,238
Collateralized loan obligations (“CLOs”)
Available-for-sale:
Amortized cost	5,425	4,441
Gross unrealized, Gain	0	3
Gross unrealized, Loss	183	5
Available-for-sale, amount	5,242	4,439
Held-to-maturity:
Amortized cost	983	983
Gross unrealized, Gains	0	0
Gross unrealized, Losses	44	1
Securities held-to-maturity	939	982
Non-agency commercial MBS
Available-for-sale:
Amortized cost	3,270	3,083
Gross unrealized, Gain	0	65
Gross unrealized, Loss	377	23
Available-for-sale, amount	2,893	3,125
Foreign government agencies
Available-for-sale:
Amortized cost	2,449	2,694
Gross unrealized, Gain	0	9
Gross unrealized, Loss	134	17
Available-for-sale, amount	2,315	2,686
Held-to-maturity:
Amortized cost	60
Gross unrealized, Gains	0
Gross unrealized, Losses	4
Securities held-to-maturity	56
Non-agency RMBS
Available-for-sale:
Amortized cost	2,276	2,641
Gross unrealized, Gain	50	132
Gross unrealized, Loss	213	25
Available-for-sale, amount	2,113	2,748
Held-to-maturity:
Amortized cost	30	43
Gross unrealized, Gains	1	2
Gross unrealized, Losses	1	0
Securities held-to-maturity	30	45
State and political subdivisions
Available-for-sale:
Amortized cost	2,187	2,543
Gross unrealized, Gain	0	11
Gross unrealized, Loss	321	40
Available-for-sale, amount	1,866	2,514
Held-to-maturity:
Amortized cost	13	14
Gross unrealized, Gains	0	1
Gross unrealized, Losses	2	0
Securities held-to-maturity	11	15
U.S. government agencies
Available-for-sale:
Amortized cost	2,177	2,464
Gross unrealized, Gain	55	99
Gross unrealized, Loss	235	27
Available-for-sale, amount	1,997	2,536
Held-to-maturity:
Amortized cost	4,209	2,998
Gross unrealized, Gains	0	0
Gross unrealized, Losses	558	71
Securities held-to-maturity	3,651	2,927
Other asset-backed securities (“ABS”)
Available-for-sale:
Amortized cost	1,594	2,205
Gross unrealized, Gain	0	7
Gross unrealized, Loss	129	22
Available-for-sale, amount	1,465	2,190
Corporate bonds
Available-for-sale:
Amortized cost	1,409	2,099
Gross unrealized, Gain	0	19
Gross unrealized, Loss	212	52
Available-for-sale, amount	1,197	2,066
Other debt securities
Available-for-sale:
Amortized cost	1	1
Gross unrealized, Gain	0	0
Gross unrealized, Loss	0	0
Available-for-sale, amount	$ 1	$ 1

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Securities - Net Securities Gains (Losses) (Details) - USD ($) $ in Millions	3 Months Ended			9 Months Ended
	Sep. 30, 2022	Jun. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Securities [Abstract]
Realized gross gains	$ 9	$ 7	$ 3	$ 89	$ 21
Realized gross losses	(8)	(7)	(1)	(84)	(17)
Total net securities gains	$ 1	$ 0	$ 2	$ 5	$ 4

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Securities - Pre-Tax Net Securities Gains (Losses) by Type (Details) - USD ($) $ in Millions	3 Months Ended			9 Months Ended
	Sep. 30, 2022	Jun. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Schedule of Investment Income, Reported Amounts, by Category [Line Items]
Total net securities gains	$ 1	$ 0	$ 2	$ 5	$ 4
Non-agency RMBS
Schedule of Investment Income, Reported Amounts, by Category [Line Items]
Total net securities gains	0	0	0	49	2
U.S. Treasury
Schedule of Investment Income, Reported Amounts, by Category [Line Items]
Total net securities gains	0	1	0	12	(4)
Corporate bonds
Schedule of Investment Income, Reported Amounts, by Category [Line Items]
Total net securities gains	0	(4)	0	(51)	0
State and political subdivisions
Schedule of Investment Income, Reported Amounts, by Category [Line Items]
Total net securities gains	0	0	0	(13)	0
Other
Schedule of Investment Income, Reported Amounts, by Category [Line Items]
Total net securities gains	$ 1	$ 3	$ 2	$ 8	$ 6

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Securities - Narrative (Details) - USD ($) $ in Millions			3 Months Ended		9 Months Ended
	Sep. 30, 2022	Dec. 31, 2021	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2022	Sep. 30, 2021
Debt Securities, Available-for-sale [Line Items]
Available-for-sale securities transferred to held-to-maturity securities					$ 6,067	$ 11,028
Debt securities, available-for-sale and held-to-maturity, allowance for credit loss	$ 9	$ 10			$ 9
AOCI, transfers from AFS to HTM Securities, gross unrealized losses	$ 188	$ 75
Agency RMBS, U.S. Government Agencies and Commercial MBS
Debt Securities, Available-for-sale [Line Items]
AOCI, transfers from AFS to HTM Securities, gross unrealized losses, amortized cost			$ 975	$ 5,300
Available-for-sale securities transferred to held-to-maturity securities			$ 906	$ 5,200

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Securities - Fair Value of Investments with Continuous Unrealized Loss Position (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss [Abstract]
Less than 12 months, Fair value	$ 66,340	$ 47,036
Less than 12 months, Unrealized losses	4,602	636
12 months or more, Fair value	16,151	4,661
12 months or more, Unrealized losses	2,519	158
Total, Fair value	82,491	51,697
Total, Unrealized losses	7,121	794
Debt securities, available-for-sale, unrealized loss position	82,491	51,697
Debt securities, available-for-sale, unrealized loss position, accumulated loss	7,121	794
AOCI, transfers from AFS to HTM Securities, gross unrealized losses, less than 12 months	126	47
AOCI, transfers from AFS to HTM Securities, gross unrealized losses, greater than 12 months	62	28
U.S. Treasury
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss [Abstract]
Less than 12 months, Fair value	22,678	16,855
Less than 12 months, Unrealized losses	1,942	235
12 months or more, Fair value	5,479	1,944
12 months or more, Unrealized losses	907	93
Total, Fair value	28,157	18,799
Total, Unrealized losses	2,849	328
Debt securities, available-for-sale, unrealized loss position	28,157	18,799
Debt securities, available-for-sale, unrealized loss position, accumulated loss	2,849	328
Sovereign debt/sovereign guaranteed
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss [Abstract]
Less than 12 months, Fair value	7,361	6,040
Less than 12 months, Unrealized losses	334	66
12 months or more, Fair value	1,738	58
12 months or more, Unrealized losses	240	1
Total, Fair value	9,099	6,098
Total, Unrealized losses	574	67
Debt securities, available-for-sale, unrealized loss position	9,099	6,098
Debt securities, available-for-sale, unrealized loss position, accumulated loss	574	67
Agency residential mortgage-backed securities (“RMBS”)
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss [Abstract]
Less than 12 months, Fair value	7,912	4,089
Less than 12 months, Unrealized losses	416	44
12 months or more, Fair value	384	457
12 months or more, Unrealized losses	70	29
Total, Fair value	8,296	4,546
Total, Unrealized losses	486	73
Debt securities, available-for-sale, unrealized loss position	8,296	4,546
Debt securities, available-for-sale, unrealized loss position, accumulated loss	486	73
Agency commercial mortgage-backed securities (“MBS”)
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss [Abstract]
Less than 12 months, Fair value	6,602	2,233
Less than 12 months, Unrealized losses	518	39
12 months or more, Fair value	1,410	585
12 months or more, Unrealized losses	200	3
Total, Fair value	8,012	2,818
Total, Unrealized losses	718	42
Debt securities, available-for-sale, unrealized loss position	8,012	2,818
Debt securities, available-for-sale, unrealized loss position, accumulated loss	718	42
Supranational
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss [Abstract]
Less than 12 months, Fair value	4,590	3,093
Less than 12 months, Unrealized losses	214	44
12 months or more, Fair value	1,491	305
12 months or more, Unrealized losses	212	6
Total, Fair value	6,081	3,398
Total, Unrealized losses	426	50
Debt securities, available-for-sale, unrealized loss position	6,081	3,398
Debt securities, available-for-sale, unrealized loss position, accumulated loss	426	50
Collateralized loan obligations (“CLOs”)
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss [Abstract]
Less than 12 months, Fair value	4,815	1,808
Less than 12 months, Unrealized losses	164	3
12 months or more, Fair value	324	318
12 months or more, Unrealized losses	15	2
Total, Fair value	5,139	2,126
Total, Unrealized losses	179	5
Debt securities, available-for-sale, unrealized loss position	5,139	2,126
Debt securities, available-for-sale, unrealized loss position, accumulated loss	179	5
Foreign covered bonds
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss [Abstract]
Less than 12 months, Fair value	3,657	2,694
Less than 12 months, Unrealized losses	166	23
12 months or more, Fair value	945	0
12 months or more, Unrealized losses	102	0
Total, Fair value	4,602	2,694
Total, Unrealized losses	268	23
Debt securities, available-for-sale, unrealized loss position	4,602	2,694
Debt securities, available-for-sale, unrealized loss position, accumulated loss	268	23
Non-agency commercial MBS
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss [Abstract]
Less than 12 months, Fair value	2,249	947
Less than 12 months, Unrealized losses	259	16
12 months or more, Fair value	594	222
12 months or more, Unrealized losses	118	7
Total, Fair value	2,843	1,169
Total, Unrealized losses	377	23
Debt securities, available-for-sale, unrealized loss position	2,843	1,169
Debt securities, available-for-sale, unrealized loss position, accumulated loss	377	23
Foreign government agencies
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss [Abstract]
Less than 12 months, Fair value	1,700	1,446
Less than 12 months, Unrealized losses	68	17
12 months or more, Fair value	615	15
12 months or more, Unrealized losses	66	0
Total, Fair value	2,315	1,461
Total, Unrealized losses	134	17
Debt securities, available-for-sale, unrealized loss position	2,315	1,461
Debt securities, available-for-sale, unrealized loss position, accumulated loss	134	17
Non-agency RMBS
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss [Abstract]
Less than 12 months, Fair value	1,058	1,573
Less than 12 months, Unrealized losses	82	20
12 months or more, Fair value	804	345
12 months or more, Unrealized losses	131	5
Total, Fair value	1,862	1,918
Total, Unrealized losses	213	25
Debt securities, available-for-sale, unrealized loss position	1,862	1,918
Debt securities, available-for-sale, unrealized loss position, accumulated loss	213	25
State and political subdivisions
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss [Abstract]
Less than 12 months, Fair value	757	1,848
Less than 12 months, Unrealized losses	128	40
12 months or more, Fair value	991	13
12 months or more, Unrealized losses	193	0
Total, Fair value	1,748	1,861
Total, Unrealized losses	321	40
Debt securities, available-for-sale, unrealized loss position	1,748	1,861
Debt securities, available-for-sale, unrealized loss position, accumulated loss	321	40
U.S. government agencies
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss [Abstract]
Less than 12 months, Fair value	1,515	1,780
Less than 12 months, Unrealized losses	197	27
12 months or more, Fair value	206	0
12 months or more, Unrealized losses	38	0
Total, Fair value	1,721	1,780
Total, Unrealized losses	235	27
Debt securities, available-for-sale, unrealized loss position	1,721	1,780
Debt securities, available-for-sale, unrealized loss position, accumulated loss	235	27
Other asset-backed securities (“ABS”)
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss [Abstract]
Less than 12 months, Fair value	925	1,383
Less than 12 months, Unrealized losses	75	20
12 months or more, Fair value	505	201
12 months or more, Unrealized losses	54	2
Total, Fair value	1,430	1,584
Total, Unrealized losses	129	22
Debt securities, available-for-sale, unrealized loss position	1,430	1,584
Debt securities, available-for-sale, unrealized loss position, accumulated loss	129	22
Corporate bonds
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss [Abstract]
Less than 12 months, Fair value	521	1,247
Less than 12 months, Unrealized losses	39	42
12 months or more, Fair value	665	198
12 months or more, Unrealized losses	173	10
Total, Fair value	1,186	1,445
Total, Unrealized losses	212	52
Debt securities, available-for-sale, unrealized loss position	1,186	1,445
Debt securities, available-for-sale, unrealized loss position, accumulated loss	$ 212	$ 52

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Securities - Debt Securities, Held-to-maturity, Credit Quality Indicator (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Debt Securities, Held-to-maturity, Credit Quality Indicator [Line Items]
Amortized cost	$ 57,257	$ 56,866
Unrealized gain (loss)	$ (6,772)	$ (91)
Ratings (percent)	0.00%	0.00%
Agency residential mortgage-backed securities (“RMBS”)
Debt Securities, Held-to-maturity, Credit Quality Indicator [Line Items]
Amortized cost	$ 35,349	$ 36,167
Unrealized gain (loss)	$ (4,678)	$ 40
Ratings (percent)	0.00%	0.00%
U.S. Treasury
Debt Securities, Held-to-maturity, Credit Quality Indicator [Line Items]
Amortized cost	$ 10,715	$ 11,617
Unrealized gain (loss)	$ (966)	$ (67)
Ratings (percent)	0.00%	0.00%
Agency commercial mortgage-backed securities (“MBS”)
Debt Securities, Held-to-maturity, Credit Quality Indicator [Line Items]
Amortized cost	$ 4,117	$ 4,068
Unrealized gain (loss)	$ (428)	$ (11)
Ratings (percent)	0.00%	0.00%
U.S. government agencies
Debt Securities, Held-to-maturity, Credit Quality Indicator [Line Items]
Amortized cost	$ 4,209	$ 2,998
Unrealized gain (loss)	$ (558)	$ (71)
Ratings (percent)	0.00%	0.00%
Sovereign debt/sovereign guaranteed
Debt Securities, Held-to-maturity, Credit Quality Indicator [Line Items]
Amortized cost	$ 1,374	$ 922
Unrealized gain (loss)	$ (69)	$ 16
Ratings (percent)	0.00%	0.00%
Collateralized loan obligations (“CLOs”)
Debt Securities, Held-to-maturity, Credit Quality Indicator [Line Items]
Amortized cost	$ 983	$ 983
Unrealized gain (loss)	$ (44)	$ (1)
Ratings (percent)	0.00%	0.00%
Supranational
Debt Securities, Held-to-maturity, Credit Quality Indicator [Line Items]
Amortized cost	$ 407	$ 54
Unrealized gain (loss)	$ (23)	$ 0
Ratings (percent)	0.00%	0.00%
Foreign government agencies
Debt Securities, Held-to-maturity, Credit Quality Indicator [Line Items]
Amortized cost	$ 60
Unrealized gain (loss)	$ (4)
Ratings (percent)	0.00%
Non-agency RMBS
Debt Securities, Held-to-maturity, Credit Quality Indicator [Line Items]
Amortized cost	$ 30	$ 43
Unrealized gain (loss)	$ 0	$ 2
Ratings (percent)	1.00%	1.00%
State and political subdivisions
Debt Securities, Held-to-maturity, Credit Quality Indicator [Line Items]
Amortized cost	$ 13	$ 14
Unrealized gain (loss)	$ (2)	$ 1
Ratings (percent)	93.00%	88.00%
AAA/ AA-
Debt Securities, Held-to-maturity, Credit Quality Indicator [Line Items]
Ratings (percent)	100.00%	100.00%
AAA/ AA- | Agency residential mortgage-backed securities (“RMBS”)
Debt Securities, Held-to-maturity, Credit Quality Indicator [Line Items]
Ratings (percent)	100.00%	100.00%
AAA/ AA- | U.S. Treasury
Debt Securities, Held-to-maturity, Credit Quality Indicator [Line Items]
Ratings (percent)	100.00%	100.00%
AAA/ AA- | Agency commercial mortgage-backed securities (“MBS”)
Debt Securities, Held-to-maturity, Credit Quality Indicator [Line Items]
Ratings (percent)	100.00%	100.00%
AAA/ AA- | U.S. government agencies
Debt Securities, Held-to-maturity, Credit Quality Indicator [Line Items]
Ratings (percent)	100.00%	100.00%
AAA/ AA- | Sovereign debt/sovereign guaranteed
Debt Securities, Held-to-maturity, Credit Quality Indicator [Line Items]
Ratings (percent)	100.00%	100.00%
AAA/ AA- | Collateralized loan obligations (“CLOs”)
Debt Securities, Held-to-maturity, Credit Quality Indicator [Line Items]
Ratings (percent)	100.00%	100.00%
AAA/ AA- | Supranational
Debt Securities, Held-to-maturity, Credit Quality Indicator [Line Items]
Ratings (percent)	100.00%	100.00%
AAA/ AA- | Foreign government agencies
Debt Securities, Held-to-maturity, Credit Quality Indicator [Line Items]
Ratings (percent)	100.00%
AAA/ AA- | Non-agency RMBS
Debt Securities, Held-to-maturity, Credit Quality Indicator [Line Items]
Ratings (percent)	22.00%	23.00%
AAA/ AA- | State and political subdivisions
Debt Securities, Held-to-maturity, Credit Quality Indicator [Line Items]
Ratings (percent)	2.00%	5.00%
A+/ A-
Debt Securities, Held-to-maturity, Credit Quality Indicator [Line Items]
Ratings (percent)	0.00%	0.00%
A+/ A- | Agency residential mortgage-backed securities (“RMBS”)
Debt Securities, Held-to-maturity, Credit Quality Indicator [Line Items]
Ratings (percent)	0.00%	0.00%
A+/ A- | U.S. Treasury
Debt Securities, Held-to-maturity, Credit Quality Indicator [Line Items]
Ratings (percent)	0.00%	0.00%
A+/ A- | Agency commercial mortgage-backed securities (“MBS”)
Debt Securities, Held-to-maturity, Credit Quality Indicator [Line Items]
Ratings (percent)	0.00%	0.00%
A+/ A- | U.S. government agencies
Debt Securities, Held-to-maturity, Credit Quality Indicator [Line Items]
Ratings (percent)	0.00%	0.00%
A+/ A- | Sovereign debt/sovereign guaranteed
Debt Securities, Held-to-maturity, Credit Quality Indicator [Line Items]
Ratings (percent)	0.00%	0.00%
A+/ A- | Collateralized loan obligations (“CLOs”)
Debt Securities, Held-to-maturity, Credit Quality Indicator [Line Items]
Ratings (percent)	0.00%	0.00%
A+/ A- | Supranational
Debt Securities, Held-to-maturity, Credit Quality Indicator [Line Items]
Ratings (percent)	0.00%	0.00%
A+/ A- | Foreign government agencies
Debt Securities, Held-to-maturity, Credit Quality Indicator [Line Items]
Ratings (percent)	0.00%
A+/ A- | Non-agency RMBS
Debt Securities, Held-to-maturity, Credit Quality Indicator [Line Items]
Ratings (percent)	58.00%	59.00%
A+/ A- | State and political subdivisions
Debt Securities, Held-to-maturity, Credit Quality Indicator [Line Items]
Ratings (percent)	2.00%	2.00%
BBB+/ BBB-
Debt Securities, Held-to-maturity, Credit Quality Indicator [Line Items]
Ratings (percent)	0.00%	0.00%
BBB+/ BBB- | Agency residential mortgage-backed securities (“RMBS”)
Debt Securities, Held-to-maturity, Credit Quality Indicator [Line Items]
Ratings (percent)	0.00%	0.00%
BBB+/ BBB- | U.S. Treasury
Debt Securities, Held-to-maturity, Credit Quality Indicator [Line Items]
Ratings (percent)	0.00%	0.00%
BBB+/ BBB- | Agency commercial mortgage-backed securities (“MBS”)
Debt Securities, Held-to-maturity, Credit Quality Indicator [Line Items]
Ratings (percent)	0.00%	0.00%
BBB+/ BBB- | U.S. government agencies
Debt Securities, Held-to-maturity, Credit Quality Indicator [Line Items]
Ratings (percent)	0.00%	0.00%
BBB+/ BBB- | Sovereign debt/sovereign guaranteed
Debt Securities, Held-to-maturity, Credit Quality Indicator [Line Items]
Ratings (percent)	0.00%	0.00%
BBB+/ BBB- | Collateralized loan obligations (“CLOs”)
Debt Securities, Held-to-maturity, Credit Quality Indicator [Line Items]
Ratings (percent)	0.00%	0.00%
BBB+/ BBB- | Supranational
Debt Securities, Held-to-maturity, Credit Quality Indicator [Line Items]
Ratings (percent)	0.00%	0.00%
BBB+/ BBB- | Foreign government agencies
Debt Securities, Held-to-maturity, Credit Quality Indicator [Line Items]
Ratings (percent)	0.00%
BBB+/ BBB- | Non-agency RMBS
Debt Securities, Held-to-maturity, Credit Quality Indicator [Line Items]
Ratings (percent)	2.00%	2.00%
BBB+/ BBB- | State and political subdivisions
Debt Securities, Held-to-maturity, Credit Quality Indicator [Line Items]
Ratings (percent)	3.00%	5.00%
BB+ and lower
Debt Securities, Held-to-maturity, Credit Quality Indicator [Line Items]
Ratings (percent)	0.00%	0.00%
BB+ and lower | Agency residential mortgage-backed securities (“RMBS”)
Debt Securities, Held-to-maturity, Credit Quality Indicator [Line Items]
Ratings (percent)	0.00%	0.00%
BB+ and lower | U.S. Treasury
Debt Securities, Held-to-maturity, Credit Quality Indicator [Line Items]
Ratings (percent)	0.00%	0.00%
BB+ and lower | Agency commercial mortgage-backed securities (“MBS”)
Debt Securities, Held-to-maturity, Credit Quality Indicator [Line Items]
Ratings (percent)	0.00%	0.00%
BB+ and lower | U.S. government agencies
Debt Securities, Held-to-maturity, Credit Quality Indicator [Line Items]
Ratings (percent)	0.00%	0.00%
BB+ and lower | Sovereign debt/sovereign guaranteed
Debt Securities, Held-to-maturity, Credit Quality Indicator [Line Items]
Ratings (percent)	0.00%	0.00%
BB+ and lower | Collateralized loan obligations (“CLOs”)
Debt Securities, Held-to-maturity, Credit Quality Indicator [Line Items]
Ratings (percent)	0.00%	0.00%
BB+ and lower | Supranational
Debt Securities, Held-to-maturity, Credit Quality Indicator [Line Items]
Ratings (percent)	0.00%	0.00%
BB+ and lower | Foreign government agencies
Debt Securities, Held-to-maturity, Credit Quality Indicator [Line Items]
Ratings (percent)	0.00%
BB+ and lower | Non-agency RMBS
Debt Securities, Held-to-maturity, Credit Quality Indicator [Line Items]
Ratings (percent)	17.00%	15.00%
BB+ and lower | State and political subdivisions
Debt Securities, Held-to-maturity, Credit Quality Indicator [Line Items]
Ratings (percent)	0.00%	0.00%

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Securities - Maturity Distribution and Yield of Investment Securities Portfolio (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Securities available-for-sale, Amount:
Within 1 year	$ 11,858
1-5 years	31,548
5-10 years	12,900
After 10 years	2,440
Available-for-sale, amount	$ 86,924	$ 101,839
Securities available-for-sale (Yield):
Within 1 year	1.75%
1-5 years	1.29%
5-10 years	1.41%
After 10 years	2.82%
Total	1.96%
Securities held-to-maturity, Amount:
Within 1 year	$ 1,642
1-5 years	11,157
5-10 years	3,710
After 10 years	269
Available-for-sale, amount	$ 57,257	56,866
Securities held-to-maturity (Yield):
Within 1 year	1.63%
1-5 years	1.23%
5-10 years	1.33%
After 10 years	1.98%
Total	2.03%
Total securities	$ 13,500
Total securities (percent)	1.73%
Total securities	$ 42,705
Total securities (percent)	1.27%
Total securities	$ 16,610
Total securities (percent)	1.40%
Total securities	$ 2,709
Total securities (percent)	2.75%
Total securities	$ 144,181
Total securities (percent)	1.99%
U.S. Treasury
Securities available-for-sale, Amount:
Within 1 year	$ 4,837
1-5 years	13,970
5-10 years	7,324
After 10 years	2,025
Available-for-sale, amount	$ 28,156	29,409
Securities available-for-sale (Yield):
Within 1 year	1.87%
1-5 years	0.93%
5-10 years	1.25%
After 10 years	2.92%
Total	1.32%
Securities held-to-maturity, Amount:
Within 1 year	$ 1,464
1-5 years	7,292
5-10 years	1,959
After 10 years	0
Available-for-sale, amount	$ 10,715	11,617
Securities held-to-maturity (Yield):
Within 1 year	1.79%
1-5 years	1.25%
5-10 years	1.16%
After 10 years	0.00%
Total	1.31%
Sovereign debt/sovereign guaranteed
Securities available-for-sale, Amount:
Within 1 year	$ 3,846
1-5 years	5,734
5-10 years	710
After 10 years	45
Available-for-sale, amount	$ 10,335
Securities available-for-sale (Yield):
Within 1 year	1.82%
1-5 years	1.13%
5-10 years	0.42%
After 10 years	2.65%
Total	1.32%
Securities held-to-maturity, Amount:
Within 1 year	$ 132
1-5 years	1,133
5-10 years	109
After 10 years	0
Available-for-sale, amount	$ 1,374
Securities held-to-maturity (Yield):
Within 1 year	0.16%
1-5 years	0.88%
5-10 years	0.95%
After 10 years	0.00%
Total	0.82%
Supranational
Securities available-for-sale, Amount:
Within 1 year	$ 1,303
1-5 years	4,745
5-10 years	1,536
After 10 years	15
Available-for-sale, amount	$ 7,599	7,573
Securities available-for-sale (Yield):
Within 1 year	1.21%
1-5 years	1.90%
5-10 years	2.26%
After 10 years	(0.09%)
Total	1.86%
Securities held-to-maturity, Amount:
Within 1 year	$ 45
1-5 years	362
5-10 years	0
After 10 years	0
Available-for-sale, amount	$ 407	54
Securities held-to-maturity (Yield):
Within 1 year	0.54%
1-5 years	1.01%
5-10 years	0.00%
After 10 years	0.00%
Total	0.96%
Foreign covered bonds
Securities available-for-sale, Amount:
Within 1 year	$ 1,131
1-5 years	3,619
5-10 years	530
After 10 years	0
Available-for-sale, amount	$ 5,280	6,238
Securities available-for-sale (Yield):
Within 1 year	1.66%
1-5 years	1.64%
5-10 years	0.18%
After 10 years	0.00%
Total	1.48%
Foreign government agencies
Securities available-for-sale, Amount:
Within 1 year	$ 540
1-5 years	1,743
5-10 years	32
After 10 years	0
Available-for-sale, amount	$ 2,315
Securities available-for-sale (Yield):
Within 1 year	1.03%
1-5 years	1.49%
5-10 years	0.16%
After 10 years	0.00%
Total	1.36%
Securities held-to-maturity, Amount:
Within 1 year	$ 0
1-5 years	60
5-10 years	0
After 10 years	0
Available-for-sale, amount	$ 60
Securities held-to-maturity (Yield):
Within 1 year	0.00%
1-5 years	0.79%
5-10 years	0.00%
After 10 years	0.00%
Total	0.79%
State and political subdivisions
Securities available-for-sale, Amount:
Within 1 year	$ 119
1-5 years	688
5-10 years	889
After 10 years	170
Available-for-sale, amount	$ 1,866	2,514
Securities available-for-sale (Yield):
Within 1 year	3.98%
1-5 years	1.50%
5-10 years	1.62%
After 10 years	2.41%
Total	1.79%
Securities held-to-maturity, Amount:
Within 1 year	$ 1
1-5 years	1
5-10 years	3
After 10 years	8
Available-for-sale, amount	$ 13	14
Securities held-to-maturity (Yield):
Within 1 year	5.48%
1-5 years	5.93%
5-10 years	4.65%
After 10 years	4.80%
Total	4.84%
U.S. government agencies
Securities available-for-sale, Amount:
Within 1 year	$ 0
1-5 years	711
5-10 years	1,122
After 10 years	164
Available-for-sale, amount	$ 1,997	2,536
Securities available-for-sale (Yield):
Within 1 year	0.00%
1-5 years	2.52%
5-10 years	2.41%
After 10 years	2.54%
Total	2.46%
Securities held-to-maturity, Amount:
Within 1 year	$ 0
1-5 years	2,309
5-10 years	1,639
After 10 years	261
Available-for-sale, amount	$ 4,209	2,998
Securities held-to-maturity (Yield):
Within 1 year	0.00%
1-5 years	1.40%
5-10 years	1.56%
After 10 years	1.90%
Total	1.49%
Corporate bonds
Securities available-for-sale, Amount:
Within 1 year	$ 82
1-5 years	338
5-10 years	757
After 10 years	20
Available-for-sale, amount	$ 1,197
Securities available-for-sale (Yield):
Within 1 year	2.40%
1-5 years	2.75%
5-10 years	1.61%
After 10 years	2.01%
Total	1.95%
Other debt securities
Securities available-for-sale, Amount:
Within 1 year	$ 0
1-5 years	0
5-10 years	0
After 10 years	1
Available-for-sale, amount	$ 1	1
Securities available-for-sale (Yield):
Within 1 year	0.00%
1-5 years	0.00%
5-10 years	0.00%
After 10 years	3.60%
Total	3.60%
Agency residential mortgage-backed securities (“RMBS”)
Securities available-for-sale, Amount:
Available-for-sale, amount	$ 8,365	14,530
Securities held-to-maturity, Amount:
Available-for-sale, amount	$ 35,349	36,167
Agency residential mortgage-backed securities (“RMBS”) | Mortgage-backed securities
Securities available-for-sale (Yield):
Total	3.10%
Securities held-to-maturity (Yield):
Total	2.29%
Non-agency RMBS
Securities available-for-sale, Amount:
Available-for-sale, amount	$ 2,113	2,748
Securities available-for-sale (Yield):
Total	3.32%
Securities held-to-maturity, Amount:
Available-for-sale, amount	$ 30	43
Securities held-to-maturity (Yield):
Total	2.22%
Agency commercial mortgage-backed securities (“MBS”)
Securities available-for-sale, Amount:
Available-for-sale, amount	$ 8,100	8,405
Securities available-for-sale (Yield):
Total	2.60%
Securities held-to-maturity, Amount:
Available-for-sale, amount	$ 4,117	4,068
Securities held-to-maturity (Yield):
Total	2.31%
Non-agency commercial MBS
Securities available-for-sale, Amount:
Available-for-sale, amount	$ 2,893	3,125
Securities available-for-sale (Yield):
Total	2.81%
Collateralized loan obligations (“CLOs”)
Securities available-for-sale, Amount:
Available-for-sale, amount	$ 5,242	4,439
Securities available-for-sale (Yield):
Total	3.72%
Securities held-to-maturity, Amount:
Available-for-sale, amount	$ 983	983
Securities held-to-maturity (Yield):
Total	3.80%
Other asset-backed securities (“ABS”)
Securities available-for-sale, Amount:
Available-for-sale, amount	$ 1,465	$ 2,190
Securities available-for-sale (Yield):
Total	1.94%

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Securities - Pledged assets (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Pledged Assets [Line Items]
Assets	$ 427,953	$ 444,438
Securities	144,181	158,705
Loans	69,829	67,787
Trading assets	12,650	16,577
Interest-bearing deposits with banks	13,890	16,630
Pledged assets permitted to be sold or repledged	99,000	122,000
Market value of securities received as collateral that have been sold or repledged	63,000	78,000
Cash segregated under federal or other regulations	4,893	3,822
Securities segregated under federal or other regulations	4,000	4,000
Asset Pledged as Collateral
Pledged Assets [Line Items]
Assets	137,000	144,000
Securities	120,000	126,000
Loans	12,000	12,000
Trading assets	4,000	5,000
Interest-bearing deposits with banks	1,000	1,000
Financial instruments, owned, at fair value	22,000	24,000
Asset Pledged as Collateral | Federal Home Loan Bank Advances
Pledged Assets [Line Items]
Assets	8,000	7,000
Asset Pledged as Collateral | Federal Reserve Discount Window Borrowings
Pledged Assets [Line Items]
Assets	$ 106,000	$ 112,000

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Loans and asset quality - Loan Distribution and Industry Concentrations (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	$ 69,829	$ 67,787
Unearned income on lease financings	238	240
Commercial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	2,135	2,128
Commercial real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	6,299	6,033
Financial institutions
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	11,105	10,232
Lease financings
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	702	731
Wealth management loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	10,676	9,792
Wealth management mortgages
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	8,878	8,200
Other residential mortgages
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	356	299
Capital call financing
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	3,985	2,284
Other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	2,884	2,541
Overdrafts
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	5,100	3,060
Margin loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	$ 17,709	$ 22,487

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Loans and asset quality - Allowance for Credit Losses Activity (Details) - USD ($) $ in Millions	3 Months Ended			9 Months Ended
	Sep. 30, 2022	Jun. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	$ 243	$ 224	$ 319	$ 241	$ 479
Charge-offs	0	0	0	0	(2)
Recoveries	1	1	1	3	6
Net recoveries	1	1	1	3	4
Provision	(8)	18	(47)	(8)	(210)
Ending balance	236	243	273	236	273
Allowance for loan losses	164	181	233	164	233	$ 196
Allowance for lending-related commitments	72	62	40	72	40	45
Individually evaluated for impairment:
Loan balance	90	136	60	90	60
Allowance for loan losses	1	1	19	1	19
Provision for other credit losses	(22)	29	2	27	(4)
Fair value of collateral	135	179	52	135	52
Foreign
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance					0
Charge-offs					0
Recoveries					0
Net recoveries					0
Provision					16
Ending balance			16		16
Asset Pledged as Collateral
Individually evaluated for impairment:
Loan balance	90	136	60	90	60
Commercial
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	16	12	8	12	16
Charge-offs	0	0	0	0	0
Recoveries	0	0	0	0	0
Net recoveries	0	0	0	0	0
Provision	1	4	2	5	(6)
Ending balance	17	16	10	17	10
Allowance for loan losses	4	4	2	4	2
Allowance for lending-related commitments	13	12	8	13	8
Individually evaluated for impairment:
Loan balance	0	0	0	0	0
Allowance for loan losses	0	0	0	0	0
Commercial real estate
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	184	176	289	199	430
Charge-offs	0	0	0	0	0
Recoveries	0	0	0	0	0
Net recoveries	0	0	0	0	0
Provision	(8)	8	(63)	(23)	(204)
Ending balance	176	184	226	176	226
Allowance for loan losses	130	147	199	130	199
Allowance for lending-related commitments	46	37	27	46	27
Individually evaluated for impairment:
Loan balance	75	121	25	75	25
Allowance for loan losses	1	1	3	1	3
Financial institutions
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	21	15	6	13	10
Charge-offs	0	0	0	0	0
Recoveries	0	0	0	0	2
Net recoveries	0	0	0	0	2
Provision	(1)	6	2	7	(4)
Ending balance	20	21	8	20	8
Allowance for loan losses	9	10	4	9	4
Allowance for lending-related commitments	11	11	4	11	4
Individually evaluated for impairment:
Loan balance	0	0	0	0	0
Allowance for loan losses	0	0	0	0	0
Lease financings
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	1	1	2	1	2
Charge-offs	0	0	0	0	0
Recoveries	0	0	0	0	0
Net recoveries	0	0	0	0	0
Provision	0	0	(1)	0	(1)
Ending balance	1	1	1	1	1
Allowance for loan losses	1	1	1	1	1
Allowance for lending-related commitments	0	0	0	0	0
Individually evaluated for impairment:
Loan balance	0	0	0	0	0
Allowance for loan losses	0	0	0	0	0
Wealth management loans
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	1	1	1	1	1
Charge-offs	0	0	0	0	0
Recoveries	0	0	0	0	0
Net recoveries	0	0	0	0	0
Provision	0	0	0	0	0
Ending balance	1	1	1	1	1
Allowance for loan losses	1		1	1	1	1
Allowance for lending-related commitments	0		0	0	0	0
Individually evaluated for impairment:
Loan balance	0		0	0	0	0
Allowance for loan losses	0		0	0	0	$ 0
Wealth management mortgages
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	7	9	4	6	7
Charge-offs	0	0	0	0	(1)
Recoveries	0	0	0	0	0
Net recoveries	0	0	0	0	(1)
Provision	2	(2)	0	3	(2)
Ending balance	9	7	4	9	4
Allowance for loan losses	8	6	3	8	3
Allowance for lending-related commitments	1	1	1	1	1
Individually evaluated for impairment:
Loan balance	14	14	18	14	18
Allowance for loan losses	0	0	0	0	0
Other residential mortgages
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	7	7	8	7	13
Charge-offs	0	0	0	0	(1)
Recoveries	1	1	1	3	4
Net recoveries	1	1	1	3	3
Provision	0	(1)	(3)	(2)	(10)
Ending balance	8	7	6	8	6
Allowance for loan losses	8	7	6	8	6
Allowance for lending-related commitments	0	0	0	0	0
Individually evaluated for impairment:
Loan balance	1	1	1	1	1
Allowance for loan losses	0	0	0	0	0
Capital call financing
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	6	3	1	2	0
Charge-offs	0	0	0	0	0
Recoveries	0	0	0	0	0
Net recoveries	0	0	0	0	0
Provision	(2)	3	0	2	1
Ending balance	4	6	1	4	1
Allowance for loan losses	3	5	1	3	1
Allowance for lending-related commitments	1	1	0	1	0
Individually evaluated for impairment:
Loan balance	0	0	0	0	0
Allowance for loan losses	$ 0	$ 0	0	$ 0	0
Other
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance			0
Charge-offs			0
Recoveries			0
Net recoveries			0
Provision			16
Ending balance			16		16
Allowance for loan losses			16		16
Allowance for lending-related commitments			0		0
Individually evaluated for impairment:
Loan balance			16		16
Allowance for loan losses			$ 16		$ 16

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Loans and asset quality - Nonperforming Assets (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Nonperforming Assets [Line Items]
With an allowance	$ 40	$ 58
Without an allowance	64	60
Total nonperforming loans	104	118
With an allowance, Other assets owned	0	0
Without an allowance, Other assets owned	3	2
Other assets owned	3	2
With an allowance, Total nonperforming assets	40	58
Without an allowance, Total nonperforming assets	67	62
Total nonperforming assets	107	120
Commercial real estate
Nonperforming Assets [Line Items]
With an allowance	0	12
Without an allowance	51	42
Total nonperforming loans	51	54
Other residential mortgages
Nonperforming Assets [Line Items]
With an allowance	32	38
Without an allowance	1	1
Total nonperforming loans	33	39
Wealth management mortgages
Nonperforming Assets [Line Items]
With an allowance	8	8
Without an allowance	12	17
Total nonperforming loans	$ 20	$ 25

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Loans and asset quality - Information about Past Due Loans (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Financing Receivable, Past Due [Line Items]
Total past due loans	$ 69,829	$ 67,787
Total past due
Financing Receivable, Past Due [Line Items]
Total past due loans	54	94
Total past due | Wealth management loans
Financing Receivable, Past Due [Line Items]
Total past due loans	38	33
Total past due | Wealth management mortgages
Financing Receivable, Past Due [Line Items]
Total past due loans	6	24
Total past due | Commercial real estate
Financing Receivable, Past Due [Line Items]
Total past due loans	5	3
Total past due | Other residential mortgages
Financing Receivable, Past Due [Line Items]
Total past due loans	5	3
Total past due | Financial institutions
Financing Receivable, Past Due [Line Items]
Total past due loans	0	31
30 to 59 Days Past Due
Financing Receivable, Past Due [Line Items]
Total past due loans	43	93
30 to 59 Days Past Due | Wealth management loans
Financing Receivable, Past Due [Line Items]
Total past due loans	33	33
30 to 59 Days Past Due | Wealth management mortgages
Financing Receivable, Past Due [Line Items]
Total past due loans	1	24
30 to 59 Days Past Due | Commercial real estate
Financing Receivable, Past Due [Line Items]
Total past due loans	5	3
30 to 59 Days Past Due | Other residential mortgages
Financing Receivable, Past Due [Line Items]
Total past due loans	4	2
30 to 59 Days Past Due | Financial institutions
Financing Receivable, Past Due [Line Items]
Total past due loans	0	31
60 to 89 Days Past Due
Financing Receivable, Past Due [Line Items]
Total past due loans	11	1
60 to 89 Days Past Due | Wealth management loans
Financing Receivable, Past Due [Line Items]
Total past due loans	5	0
60 to 89 Days Past Due | Wealth management mortgages
Financing Receivable, Past Due [Line Items]
Total past due loans	5	0
60 to 89 Days Past Due | Commercial real estate
Financing Receivable, Past Due [Line Items]
Total past due loans	0	0
60 to 89 Days Past Due | Other residential mortgages
Financing Receivable, Past Due [Line Items]
Total past due loans	1	1
60 to 89 Days Past Due | Financial institutions
Financing Receivable, Past Due [Line Items]
Total past due loans	0	0
Equal to Greater than 90 Days Past Due
Financing Receivable, Past Due [Line Items]
Total past due loans	0	0
Equal to Greater than 90 Days Past Due | Wealth management loans
Financing Receivable, Past Due [Line Items]
Total past due loans	0	0
Equal to Greater than 90 Days Past Due | Wealth management mortgages
Financing Receivable, Past Due [Line Items]
Total past due loans	0	0
Equal to Greater than 90 Days Past Due | Commercial real estate
Financing Receivable, Past Due [Line Items]
Total past due loans	0	0
Equal to Greater than 90 Days Past Due | Other residential mortgages
Financing Receivable, Past Due [Line Items]
Total past due loans	0	0
Equal to Greater than 90 Days Past Due | Financial institutions
Financing Receivable, Past Due [Line Items]
Total past due loans	$ 0	$ 0

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Loans and asset quality - Loan Modifications (Details) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022 USD ($) loan	Sep. 30, 2021 USD ($)	Sep. 30, 2022 USD ($) loan
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of loans modified (in loans) | loan			8,000,000
Aggregate recorded investment			$ 13
Financing receivable, modifications, CARES Act		$ 23
Unpaid principal balance	$ 74		$ 74
Commercial real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of loans modified (in loans) | loan	2
Aggregate recorded investment	$ 1

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Loans and asset quality - Credit Risk Profile by Grade (Details) - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2022	Dec. 31, 2021
Financing Receivable, Credit Quality Indicator [Line Items]
Originated, at amortized cost, current fiscal year	$ 8,813	$ 13,289
Originated, at amortized cost, fiscal year before current fiscal year	4,237	1,738
Originated, at amortized cost, two years before current fiscal year	1,627	2,194
Originated, at amortized cost, three years before current fiscal year	1,986	1,090
Originated, at amortized cost, four years before current fiscal year	835	1,484
Originated, at amortized cost, more than five years before current fiscal year	5,327	4,627
Amortized cost	41,881	40,279
Converted to term loans – Amortized cost	23	26
Total	64,729	64,727
Accrued interest receivable	183	61
Loans	69,829	67,787
Total wealth management loans
Financing Receivable, Credit Quality Indicator [Line Items]
Originated, at amortized cost, current fiscal year	28	118
Originated, at amortized cost, fiscal year before current fiscal year	58	18
Originated, at amortized cost, two years before current fiscal year	18	73
Originated, at amortized cost, three years before current fiscal year	47	6
Originated, at amortized cost, four years before current fiscal year	0	104
Originated, at amortized cost, more than five years before current fiscal year	228	122
Amortized cost	10,297	9,351
Converted to term loans – Amortized cost	0	0
Total	10,676	9,792
Accrued interest receivable	38	12
Total wealth management loans | Wealth management mortgages
Financing Receivable, Credit Quality Indicator [Line Items]
Originated, at amortized cost, current fiscal year	1,523	2,058
Originated, at amortized cost, fiscal year before current fiscal year	1,997	1,008
Originated, at amortized cost, two years before current fiscal year	934	855
Originated, at amortized cost, three years before current fiscal year	788	542
Originated, at amortized cost, four years before current fiscal year	494	885
Originated, at amortized cost, more than five years before current fiscal year	3,120	2,838
Amortized cost	22	14
Converted to term loans – Amortized cost	0	0
Total	8,878	8,200
Accrued interest receivable	18	14
Other residential mortgages
Financing Receivable, Credit Quality Indicator [Line Items]
Originated, at amortized cost, current fiscal year	0	0
Originated, at amortized cost, fiscal year before current fiscal year	0	0
Originated, at amortized cost, two years before current fiscal year	0	0
Originated, at amortized cost, three years before current fiscal year	0	0
Originated, at amortized cost, four years before current fiscal year	0	0
Originated, at amortized cost, more than five years before current fiscal year	356	299
Amortized cost	0	0
Converted to term loans – Amortized cost	0	0
Total	356	299
Accrued interest receivable	1	1
Capital call financing
Financing Receivable, Credit Quality Indicator [Line Items]
Originated, at amortized cost, current fiscal year	0	0
Originated, at amortized cost, fiscal year before current fiscal year	0	0
Originated, at amortized cost, two years before current fiscal year	0	0
Originated, at amortized cost, three years before current fiscal year	0	0
Originated, at amortized cost, four years before current fiscal year	0	0
Originated, at amortized cost, more than five years before current fiscal year	0	0
Amortized cost	3,985	2,284
Converted to term loans – Amortized cost	0	0
Total	3,985	2,284
Accrued interest receivable	18	3
Loans	3,985	2,284
Other
Financing Receivable, Credit Quality Indicator [Line Items]
Originated, at amortized cost, current fiscal year	0	0
Originated, at amortized cost, fiscal year before current fiscal year	0	0
Originated, at amortized cost, two years before current fiscal year	0	0
Originated, at amortized cost, three years before current fiscal year	0	0
Originated, at amortized cost, four years before current fiscal year	0	0
Originated, at amortized cost, more than five years before current fiscal year	0	0
Amortized cost	2,884	2,541
Converted to term loans – Amortized cost	0	0
Total	2,884	2,541
Accrued interest receivable	4	2
Loans	2,884	2,541
Margin loans
Financing Receivable, Credit Quality Indicator [Line Items]
Originated, at amortized cost, current fiscal year	5,259	7,697
Originated, at amortized cost, fiscal year before current fiscal year	0	0
Originated, at amortized cost, two years before current fiscal year	0	0
Originated, at amortized cost, three years before current fiscal year	0	0
Originated, at amortized cost, four years before current fiscal year	0	0
Originated, at amortized cost, more than five years before current fiscal year	0	0
Amortized cost	12,450	14,790
Converted to term loans – Amortized cost	0	0
Total	17,709	22,487
Accrued interest receivable	24	10
Loans	17,709	22,487
Overdrafts
Financing Receivable, Credit Quality Indicator [Line Items]
Loans	$ 5,100	$ 3,060
Overdraft repayment period	2 days	2 days
Overdrafts | Overdrafts
Financing Receivable, Credit Quality Indicator [Line Items]
Loans	$ 5,100	$ 3,060
Investment grade | Total wealth management loans | Loans receivable
Financing Receivable, Credit Quality Indicator [Line Items]
Originated, at amortized cost, current fiscal year	28	117
Originated, at amortized cost, fiscal year before current fiscal year	58	18
Originated, at amortized cost, two years before current fiscal year	18	73
Originated, at amortized cost, three years before current fiscal year	47	6
Originated, at amortized cost, four years before current fiscal year	0	104
Originated, at amortized cost, more than five years before current fiscal year	228	122
Amortized cost	10,264	9,320
Converted to term loans – Amortized cost	0	0
Total	10,643	9,760
Non-investment grade | Total wealth management loans | Loans receivable
Financing Receivable, Credit Quality Indicator [Line Items]
Originated, at amortized cost, current fiscal year	0	1
Originated, at amortized cost, fiscal year before current fiscal year	0	0
Originated, at amortized cost, two years before current fiscal year	0	0
Originated, at amortized cost, three years before current fiscal year	0	0
Originated, at amortized cost, four years before current fiscal year	0	0
Originated, at amortized cost, more than five years before current fiscal year	0	0
Amortized cost	33	31
Converted to term loans – Amortized cost	0	0
Total	33	32
Commercial
Financing Receivable, Credit Quality Indicator [Line Items]
Originated, at amortized cost, current fiscal year	404	429
Originated, at amortized cost, fiscal year before current fiscal year	174	20
Originated, at amortized cost, two years before current fiscal year	20	0
Originated, at amortized cost, three years before current fiscal year	0	8
Originated, at amortized cost, four years before current fiscal year	13	145
Originated, at amortized cost, more than five years before current fiscal year	45	0
Amortized cost	1,479	1,526
Converted to term loans – Amortized cost	0	0
Total	2,135	2,128
Accrued interest receivable	3	1
Commercial | Investment grade
Financing Receivable, Credit Quality Indicator [Line Items]
Originated, at amortized cost, current fiscal year	322	348
Originated, at amortized cost, fiscal year before current fiscal year	168	20
Originated, at amortized cost, two years before current fiscal year	20	0
Originated, at amortized cost, three years before current fiscal year	0	8
Originated, at amortized cost, four years before current fiscal year	13	145
Originated, at amortized cost, more than five years before current fiscal year	45	0
Amortized cost	1,402	1,450
Converted to term loans – Amortized cost	0	0
Total	1,970	1,971
Commercial | Non-investment grade
Financing Receivable, Credit Quality Indicator [Line Items]
Originated, at amortized cost, current fiscal year	82	81
Originated, at amortized cost, fiscal year before current fiscal year	6	0
Originated, at amortized cost, two years before current fiscal year	0	0
Originated, at amortized cost, three years before current fiscal year	0	0
Originated, at amortized cost, four years before current fiscal year	0	0
Originated, at amortized cost, more than five years before current fiscal year	0	0
Amortized cost	77	76
Converted to term loans – Amortized cost	0	0
Total	165	157
Commercial real estate
Financing Receivable, Credit Quality Indicator [Line Items]
Originated, at amortized cost, current fiscal year	1,335	2,237
Originated, at amortized cost, fiscal year before current fiscal year	1,617	625
Originated, at amortized cost, two years before current fiscal year	603	1,251
Originated, at amortized cost, three years before current fiscal year	1,140	524
Originated, at amortized cost, four years before current fiscal year	321	348
Originated, at amortized cost, more than five years before current fiscal year	931	696
Amortized cost	329	326
Converted to term loans – Amortized cost	23	26
Total	6,299	6,033
Accrued interest receivable	20	7
Commercial real estate | Investment grade
Financing Receivable, Credit Quality Indicator [Line Items]
Originated, at amortized cost, current fiscal year	919	1,577
Originated, at amortized cost, fiscal year before current fiscal year	1,172	528
Originated, at amortized cost, two years before current fiscal year	458	683
Originated, at amortized cost, three years before current fiscal year	904	173
Originated, at amortized cost, four years before current fiscal year	212	298
Originated, at amortized cost, more than five years before current fiscal year	912	601
Amortized cost	296	205
Converted to term loans – Amortized cost	0	0
Total	4,873	4,065
Commercial real estate | Non-investment grade
Financing Receivable, Credit Quality Indicator [Line Items]
Originated, at amortized cost, current fiscal year	416	660
Originated, at amortized cost, fiscal year before current fiscal year	445	97
Originated, at amortized cost, two years before current fiscal year	145	568
Originated, at amortized cost, three years before current fiscal year	236	351
Originated, at amortized cost, four years before current fiscal year	109	50
Originated, at amortized cost, more than five years before current fiscal year	19	95
Amortized cost	33	121
Converted to term loans – Amortized cost	23	26
Total	1,426	1,968
Financial institutions
Financing Receivable, Credit Quality Indicator [Line Items]
Originated, at amortized cost, current fiscal year	246	725
Originated, at amortized cost, fiscal year before current fiscal year	391	0
Originated, at amortized cost, two years before current fiscal year	0	0
Originated, at amortized cost, three years before current fiscal year	0	0
Originated, at amortized cost, four years before current fiscal year	0	0
Originated, at amortized cost, more than five years before current fiscal year	33	60
Amortized cost	10,435	9,447
Converted to term loans – Amortized cost	0	0
Total	11,105	10,232
Accrued interest receivable	57	11
Financial institutions | Investment grade
Financing Receivable, Credit Quality Indicator [Line Items]
Originated, at amortized cost, current fiscal year	176	705
Originated, at amortized cost, fiscal year before current fiscal year	391	0
Originated, at amortized cost, two years before current fiscal year	0	0
Originated, at amortized cost, three years before current fiscal year	0	0
Originated, at amortized cost, four years before current fiscal year	0	0
Originated, at amortized cost, more than five years before current fiscal year	33	60
Amortized cost	9,029	8,015
Converted to term loans – Amortized cost	0	0
Total	9,629	8,780
Financial institutions | Non-investment grade
Financing Receivable, Credit Quality Indicator [Line Items]
Originated, at amortized cost, current fiscal year	70	20
Originated, at amortized cost, fiscal year before current fiscal year	0	0
Originated, at amortized cost, two years before current fiscal year	0	0
Originated, at amortized cost, three years before current fiscal year	0	0
Originated, at amortized cost, four years before current fiscal year	0	0
Originated, at amortized cost, more than five years before current fiscal year	0	0
Amortized cost	1,406	1,432
Converted to term loans – Amortized cost	0	0
Total	1,476	1,452
Lease financings
Financing Receivable, Credit Quality Indicator [Line Items]
Originated, at amortized cost, current fiscal year	18	25
Originated, at amortized cost, fiscal year before current fiscal year	0	67
Originated, at amortized cost, two years before current fiscal year	52	15
Originated, at amortized cost, three years before current fiscal year	11	10
Originated, at amortized cost, four years before current fiscal year	7	2
Originated, at amortized cost, more than five years before current fiscal year	614	612
Amortized cost	0	0
Converted to term loans – Amortized cost	0	0
Total	702	731
Accrued interest receivable	$ 0	$ 0

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Loans and asset quality - Credit Risk Indicators Narrative (Details) - USD ($)	9 Months Ended	12 Months Ended
	Sep. 30, 2022	Dec. 31, 2021
Accounts, Notes, Loans and Financing Receivable [Line Items]
Percentage of exposure to investment grade securities	96.00%
Percentage of financial institution exposure secured	66.00%
Percent of financial institution exposure expiring within one year	84.00%
Loans	$ 69,829,000,000	$ 67,787,000,000
Reverse repurchase agreements, allowance for credit loss	$ 0	0
Wealth management mortgages
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan to value ratio at origination (percent)	61.00%
Loans	$ 8,878,000,000	8,200,000,000
Wealth management mortgages | California | Geographic Concentration Risk | Revenue Benchmark
Accounts, Notes, Loans and Financing Receivable [Line Items]
Geographic concentrations (percent)	21.00%
Wealth management mortgages | New York | Geographic Concentration Risk | Revenue Benchmark
Accounts, Notes, Loans and Financing Receivable [Line Items]
Geographic concentrations (percent)	15.00%
Wealth management mortgages | Florida | Geographic Concentration Risk | Revenue Benchmark
Accounts, Notes, Loans and Financing Receivable [Line Items]
Geographic concentrations (percent)	11.00%
Wealth management mortgages | Massachusetts | Geographic Concentration Risk | Revenue Benchmark
Accounts, Notes, Loans and Financing Receivable [Line Items]
Geographic concentrations (percent)	8.00%
Wealth management mortgages | Other | Geographic Concentration Risk | Revenue Benchmark
Accounts, Notes, Loans and Financing Receivable [Line Items]
Geographic concentrations (percent)	45.00%
Total wealth management loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Percentage of past due mortgages (less than)	1.00%
Other residential mortgages
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	$ 356,000,000	299,000,000
Fixed-Rate Jumbo Mortgages
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan to value ratio at origination (percent)	69.00%
Loans	$ 94,000,000
Margin loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	$ 17,709,000,000	22,487,000,000
Minimum collateral margin	1
Overdrafts
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	$ 5,100,000,000
Overdrafts
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	$ 5,100,000,000	$ 3,060,000,000
Overdraft repayment period	2 days	2 days

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Goodwill and intangible assets - Goodwill (Details) - USD ($)	3 Months Ended			9 Months Ended
	Sep. 30, 2022	Jun. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Goodwill [Roll Forward]
Beginning balance				$ 17,512,000,000	$ 17,496,000,000
Impairment losses	$ (680,000,000)	$ 0	$ 0	(680,000,000)	0
Dispositions				(13,000,000)	(5,000,000)
Foreign currency translation				(407,000,000)	(71,000,000)
Goodwill	17,092,000,000			17,092,000,000
Accumulated impairment losses	(680,000,000)			(680,000,000)
Ending balance	16,412,000,000		17,420,000,000	16,412,000,000	17,420,000,000
Securities Services
Goodwill [Roll Forward]
Beginning balance				7,062,000,000	7,033,000,000
Impairment losses				0
Dispositions				(13,000,000)	0
Foreign currency translation				(142,000,000)	(47,000,000)
Goodwill	6,907,000,000			6,907,000,000
Accumulated impairment losses	0			0
Ending balance	6,907,000,000		6,986,000,000	6,907,000,000	6,986,000,000
Market and Wealth Services
Goodwill [Roll Forward]
Beginning balance				1,435,000,000	1,423,000,000
Impairment losses				0
Dispositions				0	0
Foreign currency translation				(18,000,000)	(1,000,000)
Goodwill	1,417,000,000			1,417,000,000
Accumulated impairment losses	0			0
Ending balance	1,417,000,000		1,422,000,000	1,417,000,000	1,422,000,000
Investment and Wealth Management
Goodwill [Roll Forward]
Beginning balance				9,015,000,000	9,040,000,000
Impairment losses				(680,000,000)
Dispositions				0	(5,000,000)
Foreign currency translation				(247,000,000)	(23,000,000)
Goodwill	8,768,000,000			8,768,000,000
Accumulated impairment losses	(680,000,000)			(680,000,000)
Ending balance	$ 8,088,000,000		$ 9,012,000,000	$ 8,088,000,000	$ 9,012,000,000

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Goodwill and intangible assets - Intangible Assets by Business Segment (Details) - USD ($) $ in Millions	3 Months Ended			9 Months Ended
	Sep. 30, 2022	Jun. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Intangible Assets [Roll Forward]
Beginning Balance				$ 2,991	$ 3,012
Disposition					(6)
Amortization	$ (17)	$ (17)	$ (19)	(51)	(63)
Foreign currency translation				(38)	(2)
Ending Balance	2,902		2,941	2,902	2,941
Securities Services
Intangible Assets [Roll Forward]
Beginning Balance				230	194
Disposition					0
Amortization				(25)	(24)
Foreign currency translation				(8)	0
Ending Balance	197		170	197	170
Market and Wealth Services
Intangible Assets [Roll Forward]
Beginning Balance				392	414
Disposition					0
Amortization				(6)	(17)
Foreign currency translation				0	0
Ending Balance	386		397	386	397
Investment and Wealth Management
Intangible Assets [Roll Forward]
Beginning Balance				1,520	1,555
Disposition					(6)
Amortization				(20)	(22)
Foreign currency translation				(30)	(2)
Ending Balance	1,470		1,525	1,470	1,525
Other
Intangible Assets [Roll Forward]
Beginning Balance				849	849
Disposition					0
Amortization				0	0
Foreign currency translation				0	0
Ending Balance	$ 849		$ 849	$ 849	$ 849

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Goodwill and intangible assets - Intangible Assets by Type (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2022	Dec. 31, 2021	Sep. 30, 2021	Dec. 31, 2020
Intangible Assets by Major Class [Line Items]
Gross carrying amount	$ 4,208	$ 4,329
Accumulated amortization	(1,306)	(1,338)
Net carrying amount	2,902	2,991	$ 2,941	$ 3,012
Securities Services
Intangible Assets by Major Class [Line Items]
Net carrying amount	197	230	170	194
Market and Wealth Services
Intangible Assets by Major Class [Line Items]
Net carrying amount	386	392	$ 397	$ 414
Finite-lived Intangible Assets
Intangible Assets by Major Class [Line Items]
Gross carrying amount	1,647	1,740
Accumulated amortization	(1,306)	(1,338)
Net carrying amount	$ 341	402
Finite-lived Intangible Assets | Weighted Average
Intangible Assets by Major Class [Line Items]
Remaining weighted- average amortization period	10 years
Finite-lived Intangible Assets | Customer contracts—Investment Services | Securities Services
Intangible Assets by Major Class [Line Items]
Gross carrying amount	$ 733	747
Accumulated amortization	(538)	(518)
Net carrying amount	195	229
Finite-lived Intangible Assets | Customer contracts—Investment Services | Market and Wealth Services
Intangible Assets by Major Class [Line Items]
Gross carrying amount	314	378
Accumulated amortization	(299)	(356)
Net carrying amount	$ 15	22
Finite-lived Intangible Assets | Customer contracts—Investment Services | Weighted Average | Securities Services
Intangible Assets by Major Class [Line Items]
Remaining weighted- average amortization period	11 years
Finite-lived Intangible Assets | Customer contracts—Investment Services | Weighted Average | Market and Wealth Services
Intangible Assets by Major Class [Line Items]
Remaining weighted- average amortization period	4 years
Finite-lived Intangible Assets | Customer relationships
Intangible Assets by Major Class [Line Items]
Gross carrying amount	$ 553	568
Accumulated amortization	(456)	(456)
Net carrying amount	$ 97	112
Finite-lived Intangible Assets | Customer relationships | Weighted Average
Intangible Assets by Major Class [Line Items]
Remaining weighted- average amortization period	9 years
Finite-lived Intangible Assets | Other
Intangible Assets by Major Class [Line Items]
Gross carrying amount	$ 47	47
Accumulated amortization	(13)	(8)
Net carrying amount	$ 34	39
Finite-lived Intangible Assets | Other | Weighted Average
Intangible Assets by Major Class [Line Items]
Remaining weighted- average amortization period	14 years
Indefinite-lived Intangible Assets
Intangible Assets by Major Class [Line Items]
Gross carrying amount	$ 2,561	2,589
Net carrying amount	2,561	2,589
Indefinite-lived Intangible Assets | Tradenames
Intangible Assets by Major Class [Line Items]
Gross carrying amount	1,288	1,294
Net carrying amount	1,288	1,294
Indefinite-lived Intangible Assets | Customer relationships
Intangible Assets by Major Class [Line Items]
Gross carrying amount	1,273	1,295
Net carrying amount	$ 1,273	$ 1,295

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Goodwill and intangible assets - Estimated Annual Amortization Expense (Details) $ in Millions	Sep. 30, 2022 USD ($)
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
2022	$ 67
2023	57
2024	49
2025	42
2026	$ 34

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Goodwill and intangible assets - Narrative (Details)	3 Months Ended			9 Months Ended
	Sep. 30, 2022 USD ($)	Jun. 30, 2022 USD ($)	Sep. 30, 2021 USD ($)	Sep. 30, 2022 USD ($) reportingUnit	Sep. 30, 2021 USD ($)
Goodwill [Line Items]
Number of reporting units (reporting unit) | reportingUnit				6
Goodwill impairment	$ 680,000,000	$ 0	$ 0	$ 680,000,000	$ 0
Investment and Wealth Management
Goodwill [Line Items]
Goodwill impairment				680,000,000
Allocated goodwill	$ 7,000,000,000			$ 7,000,000,000
Goodwill impairment loss (as a percentage)	0.07
Discount rate
Goodwill [Line Items]
Impairment testing, measurement input	0.105	0.10		0.105

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Other assets - Components of Other Assets (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Other Assets [Abstract]
Corporate/bank-owned life insurance	$ 5,391	$ 5,359
Accounts receivable	4,838	4,178
Fails to deliver	4,622	1,561
Software	2,190	2,096
Prepaid pension assets	2,012	1,946
Cash collateral receivable on derivative transactions	1,423	304
Qualified affordable housing project investments	1,255	1,153
Renewable energy investments	907	1,027
Fair value of hedging derivatives	875	206
Prepaid expense	804	476
Equity method investments	781	939
Other equity investments	642	449
Income taxes receivable	577	538
Federal Reserve Bank stock	477	472
Seed capital	342	357
Assets of consolidated investment management funds	214	462
Other	1,252	886
Total other assets	28,602	22,409
Federal Home Loan Bank stock, at cost	$ 6	$ 7

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Other assets - Non-Readily Marketable Equity Securities (Details) - USD ($) $ in Millions	3 Months Ended			9 Months Ended
	Sep. 30, 2022	Jun. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Other Assets [Abstract]
Equity securities without readily determinable fair value, amount	$ 434			$ 434		$ 264
Equity securities without readily determinable fair value, upward price adjustment, annual amount	3	$ 76	$ 55	125	$ 61
Equity securities without readily determinable fair value, downward price adjustment, annual amount	0	(7)	0	(7)	0
Equity securities without readily determinable fair value, net adjustment, annual amount	3	$ 69	$ 55	118	$ 61
Equity securities without readily determinable fair value, upward price adjustment, cumulative amount amount	283			283
Equity securities without readily determinable fair value, downward price adjustment, cumulative amount	(11)			(11)
Equity securities without readily determinable fair value, net price adjustment, cumulative amount	$ 272			$ 272

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Other assets - Qualified Affordable Housing Project Investments (Details) - USD ($) $ in Millions	3 Months Ended			9 Months Ended
	Sep. 30, 2022	Jun. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Other Assets [Abstract]
Qualified affordable housing project investments	$ 1,255			$ 1,255		$ 1,153
Qualified affordable housing project investments, commitment	595			595		$ 543
Qualified affordable housing project commitment - remainder of 2022	92			92
Qualified affordable housing project commitment - 2023	210			210
Qualified affordable housing project commitment - 2024	144			144
Qualified affordable housing project commitment - 2025	90			90
Qualified affordable housing project commitment - 2026	21			21
Qualified affordable housing project commitment - 2027 and thereafter	38			38
Tax credits and other tax benefits	38	$ 38	$ 38	114	$ 114
Amortization expense included in the provision for income taxes	$ 32	$ 33	$ 32	$ 97	$ 96

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Other assets - Seed Capital and Private Equity Investments (Details) - Other Assets - NAV - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2022	Dec. 31, 2021
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Line Items]
Fair value	$ 216	$ 218
Unfunded commitments	74	82
Seed capital
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Line Items]
Fair value	84	101
Unfunded commitments	16	21
Private equity investments
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Line Items]
Fair value	128	113
Unfunded commitments	$ 58	$ 61
Fair value, investments, entities that calculate net asset value per share, liquidating investment, remaining period	10 years	10 years
Other
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Line Items]
Fair value	$ 4	$ 4
Unfunded commitments	$ 0	$ 0
Minimum | Seed capital
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Line Items]
Fair value, investments, entities that calculate net asset value per share, liquidating investment, remaining period	3 years	3 years
Maximum | Seed capital
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Line Items]
Fair value, investments, entities that calculate net asset value per share, liquidating investment, remaining period	11 years	11 years

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Contract revenue - Disaggregation of Contract Revenues (Details) - USD ($) $ in Millions	3 Months Ended			9 Months Ended
	Sep. 30, 2022	Jun. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Disaggregation of Revenue [Line Items]
Total fee and other revenue	$ 3,353	$ 3,430	$ 3,394	$ 10,011	$ 9,975
Net income (loss) attributable to noncontrolling interests	0	(5)	(4)	(13)	6
Operating segments
Disaggregation of Revenue [Line Items]
Total fee revenue and other revenue - contract revenue	3,020	3,101	3,051	9,067	9,049
Fee and other revenue - not in scope of ASC 606	333	334	347	957	920
Total fee and other revenue	3,353	3,435	3,398	10,024	9,969
Investment services fees | Operating segments
Disaggregation of Revenue [Line Items]
Total fee revenue and other revenue - contract revenue	2,146	2,199	2,079	6,329	6,183
Investment management and performance fees | Operating segments
Disaggregation of Revenue [Line Items]
Total fee revenue and other revenue - contract revenue	802	826	900	2,515	2,652
Financing-related fees | Operating segments
Disaggregation of Revenue [Line Items]
Total fee revenue and other revenue - contract revenue	11	15	16	43	52
Distribution and servicing | Operating segments
Disaggregation of Revenue [Line Items]
Total fee revenue and other revenue - contract revenue	33	34	28	97	84
Investment and other income | Operating segments
Disaggregation of Revenue [Line Items]
Total fee revenue and other revenue - contract revenue	28	27	28	83	78
Securities Services | Operating segments
Disaggregation of Revenue [Line Items]
Total fee revenue and other revenue - contract revenue	1,297	1,360	1,300	3,838	3,802
Fee and other revenue - not in scope of ASC 606	239	189	188	650	550
Total fee and other revenue	1,536	1,549	1,488	4,488	4,352
Securities Services | Investment services fees | Operating segments
Disaggregation of Revenue [Line Items]
Total fee revenue and other revenue - contract revenue	1,233	1,294	1,260	3,657	3,685
Securities Services | Investment management and performance fees | Operating segments
Disaggregation of Revenue [Line Items]
Total fee revenue and other revenue - contract revenue	0	0	0	0	0
Securities Services | Financing-related fees | Operating segments
Disaggregation of Revenue [Line Items]
Total fee revenue and other revenue - contract revenue	7	11	4	21	13
Securities Services | Distribution and servicing | Operating segments
Disaggregation of Revenue [Line Items]
Total fee revenue and other revenue - contract revenue	1	1	1	3	4
Securities Services | Investment and other income | Operating segments
Disaggregation of Revenue [Line Items]
Total fee revenue and other revenue - contract revenue	56	54	35	157	100
Market and Wealth Services | Operating segments
Disaggregation of Revenue [Line Items]
Total fee revenue and other revenue - contract revenue	937	929	828	2,737	2,528
Fee and other revenue - not in scope of ASC 606	52	45	62	132	179
Total fee and other revenue	989	974	890	2,869	2,707
Market and Wealth Services | Investment services fees | Operating segments
Disaggregation of Revenue [Line Items]
Total fee revenue and other revenue - contract revenue	903	898	810	2,647	2,474
Market and Wealth Services | Investment management and performance fees | Operating segments
Disaggregation of Revenue [Line Items]
Total fee revenue and other revenue - contract revenue	5	6	5	17	13
Market and Wealth Services | Financing-related fees | Operating segments
Disaggregation of Revenue [Line Items]
Total fee revenue and other revenue - contract revenue	3	4	12	21	39
Market and Wealth Services | Distribution and servicing | Operating segments
Disaggregation of Revenue [Line Items]
Total fee revenue and other revenue - contract revenue	(23)	(17)	(2)	(44)	(4)
Market and Wealth Services | Investment and other income | Operating segments
Disaggregation of Revenue [Line Items]
Total fee revenue and other revenue - contract revenue	49	38	3	96	6
Investment and Wealth Management | Operating segments
Disaggregation of Revenue [Line Items]
Total fee revenue and other revenue - contract revenue	805	831	945	2,553	2,785
Fee and other revenue - not in scope of ASC 606	0	6	40	(4)	95
Total fee and other revenue	805	837	985	2,549	2,880
Net income (loss) attributable to noncontrolling interests	0	(5)	(4)	(13)	6
Investment and Wealth Management | Investment services fees | Operating segments
Disaggregation of Revenue [Line Items]
Total fee revenue and other revenue - contract revenue	26	24	26	75	75
Investment and Wealth Management | Investment management and performance fees | Operating segments
Disaggregation of Revenue [Line Items]
Total fee revenue and other revenue - contract revenue	800	822	901	2,509	2,654
Investment and Wealth Management | Financing-related fees | Operating segments
Disaggregation of Revenue [Line Items]
Total fee revenue and other revenue - contract revenue	0	0	0	0	0
Investment and Wealth Management | Distribution and servicing | Operating segments
Disaggregation of Revenue [Line Items]
Total fee revenue and other revenue - contract revenue	55	51	28	138	84
Investment and Wealth Management | Investment and other income | Operating segments
Disaggregation of Revenue [Line Items]
Total fee revenue and other revenue - contract revenue	(76)	(66)	(10)	(169)	(28)
Other | Operating segments
Disaggregation of Revenue [Line Items]
Total fee revenue and other revenue - contract revenue	(19)	(19)	(22)	(61)	(66)
Fee and other revenue - not in scope of ASC 606	42	94	57	179	96
Total fee and other revenue	23	75	35	118	30
Other | Investment services fees | Operating segments
Disaggregation of Revenue [Line Items]
Total fee revenue and other revenue - contract revenue	(16)	(17)	(17)	(50)	(51)
Other | Investment management and performance fees | Operating segments
Disaggregation of Revenue [Line Items]
Total fee revenue and other revenue - contract revenue	(3)	(2)	(6)	(11)	(15)
Other | Financing-related fees | Operating segments
Disaggregation of Revenue [Line Items]
Total fee revenue and other revenue - contract revenue	1	0	0	1	0
Other | Distribution and servicing | Operating segments
Disaggregation of Revenue [Line Items]
Total fee revenue and other revenue - contract revenue	0	(1)	1	0	0
Other | Investment and other income | Operating segments
Disaggregation of Revenue [Line Items]
Total fee revenue and other revenue - contract revenue	$ (1)	$ 1	$ 0	$ (1)	$ 0

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Contract revenue - Narrative (Details) - USD ($) $ in Millions	3 Months Ended			9 Months Ended
	Sep. 30, 2022	Jun. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Capitalized Contract Cost [Line Items]
Contract with customer, asset	$ 2,500			$ 2,500		$ 2,500
Contract assets representing accrued revenues not yet billed	68			68		42
Contract with customer, liability	182			182		163
Contract with customer, liability, revenue recognized	71			106
Incremental costs for obtaining contracts
Capitalized Contract Cost [Line Items]
Capitalized contract costs	$ 57			$ 57		64
Capitalized contract cost, amortization period	9 years			9 years
Capitalized contract cost, amortization	$ 5	$ 4	$ 5	$ 14	$ 15
Costs to fulfill contract
Capitalized Contract Cost [Line Items]
Capitalized contract costs	25			25		$ 23
Capitalized contract cost, amortization	$ 1	$ 1	$ 1	$ 1	$ 1
Costs to fulfill contract | Minimum
Capitalized Contract Cost [Line Items]
Capitalized contract cost, amortization period	7 years			7 years
Costs to fulfill contract | Maximum
Capitalized Contract Cost [Line Items]
Capitalized contract cost, amortization period	9 years			9 years

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Net interest revenue (Details) - USD ($) $ in Millions	3 Months Ended			9 Months Ended
	Sep. 30, 2022	Jun. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Interest revenue
Deposits with the Federal Reserve and other central banks	$ 288	$ 99	$ (21)	$ 389	$ (62)
Deposits with banks	67	33	12	114	37
Federal funds sold and securities purchased under resale agreements	321	116	32	474	89
Loans	581	370	238	1,211	705
Securities:
Taxable	683	509	413	1,626	1,278
Exempt from federal income taxes	9	10	11	29	31
Total securities	692	519	424	1,655	1,309
Trading securities	35	22	8	78	38
Total interest revenue	1,984	1,159	693	3,921	2,116
Interest expense
Deposits	488	90	(44)	541	(130)
Federal funds purchased and securities sold under repurchase agreements	250	77	2	339	(6)
Trading liabilities	23	10	1	37	6
Other borrowed funds	1	2	3	6	6
Customer payables	48	9	(1)	57	(2)
Long-term debt	248	147	91	493	301
Total interest expense	1,058	335	52	1,473	175
Net interest revenue	926	824	641	2,448	1,941
Provision for credit losses	(30)	47	(45)	19	(214)
Net interest revenue after provision for credit losses	$ 956	$ 777	$ 686	$ 2,429	$ 2,155

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Employee benefit plans (Details) - USD ($) $ in Millions	3 Months Ended			9 Months Ended
	Sep. 30, 2022	Jun. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Health care benefits
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 0	$ 0	$ 0	$ 0	$ 0
Interest cost	1	1	1	3	3
Expected return on assets	(2)	(1)	(2)	(5)	(5)
Other	(1)	(1)	0	(3)	0
Net periodic benefit (credit) cost	(2)	(1)	(1)	(5)	(2)
Domestic | Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Service cost	0	0	0	0	0
Interest cost	35	35	35	105	103
Expected return on assets	(78)	(78)	(75)	(234)	(225)
Other	17	17	24	51	73
Net periodic benefit (credit) cost	(26)	(26)	(16)	(78)	(49)
Foreign | Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Service cost	3	3	4	9	11
Interest cost	6	7	6	21	19
Expected return on assets	(8)	(9)	(9)	(27)	(26)
Other	1	1	3	3	10
Net periodic benefit (credit) cost	$ 2	$ 2	$ 4	$ 6	$ 14

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Income taxes - Narrative (Details) - USD ($) $ in Millions	3 Months Ended			9 Months Ended
	Sep. 30, 2022	Jun. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Provision for income taxes	$ 242	$ 231	$ 219	$ 626	$ 681
Effective tax rate	38.40%	21.10%	18.80%
Impact of goodwill impairment	19.00%
Tax reserves	$ 130			130		$ 138
Impact on effective tax rate if tax reserves were unnecessary	130			130
Accrued interest, related to income taxes in the balance sheet	38			38
Additional tax expense related to interest				3	$ 6
Reasonably possible decrease in uncertain tax positions within the next 12 months, if a re-evaluation is required	$ 12			$ 12

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Variable interest entities - Assets and Liabilities of VIEs (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Variable Interest Entity [Line Items]
Trading assets	$ 12,650	$ 16,577
Other assets	1,599	1,187
Other liabilities	26	496
Nonredeemable noncontrolling interests	7	196
VME classification of carrying amount, assets	99	187
VME classification of carrying amount, liabilities	1	2
Noncontrolling interest in VME	7	43
Investment Management funds | Variable Interest Entity, Primary Beneficiary
Variable Interest Entity [Line Items]
Trading assets	206	443
Other assets	8	19
Total assets	214	462
Other liabilities	1	3
Total liabilities	1	3
Nonredeemable noncontrolling interests	$ 7	$ 196

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Variable interest entities - Non-consolidated VIEs (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Variable Interest Entity [Line Items]
Assets	$ 427,953	$ 444,438
Liabilities	388,057	401,047
Securities – Available-for-sale | Variable Interest Entity, Not Primary Beneficiary
Variable Interest Entity [Line Items]
Assets	152	189
Liabilities	0	0
Maximum loss exposure	152	189
Other | Variable Interest Entity, Not Primary Beneficiary
Variable Interest Entity [Line Items]
Assets	2,323	2,385
Liabilities	595	543
Maximum loss exposure	$ 2,932	$ 2,946

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Preferred stock - Narrative (Details)	Sep. 30, 2022 $ / shares shares	Dec. 31, 2021 $ / shares shares
Stockholders' Equity Note [Abstract]
Preferred stock, shares authorized (shares) | shares	100,000,000	100,000,000
Preferred stock, par value (usd per share) | $ / shares	$ 0.01	$ 0.01
Preferred stock, percentage ownership by subsidiary	1

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Preferred stock - Summary (Details) - USD ($) $ / shares in Units, $ in Millions	9 Months Ended
	Sep. 30, 2022	Dec. 31, 2021
Class of Stock [Line Items]
Total shares issued and outstanding (shares)	48,826	48,826
Carrying value	$ 4,838	$ 4,838
Series A Noncumulative Perpetual Preferred Stock
Class of Stock [Line Items]
Per annum dividend rate	4.00%
Total shares issued and outstanding (shares)	5,001	5,001
Carrying value	$ 500	$ 500
Liquidation preference per share (usd per share)	$ 100,000
Depositary shares per share	1.00%
Series A Noncumulative Perpetual Preferred Stock | LIBOR
Class of Stock [Line Items]
Preferred stock, basis spread on variable rate	0.565%
Series D Noncumulative Perpetual Preferred Stock
Class of Stock [Line Items]
Per annum dividend rate	4.50%
Total shares issued and outstanding (shares)	5,000	5,000
Carrying value	$ 494	$ 494
Liquidation preference per share (usd per share)	$ 100,000
Depositary shares per share	1.00%
Series D Noncumulative Perpetual Preferred Stock | LIBOR
Class of Stock [Line Items]
Preferred stock, basis spread on variable rate	2.46%
Series F Noncumulative Perpetual Preferred Stock
Class of Stock [Line Items]
Per annum dividend rate	4.625%
Total shares issued and outstanding (shares)	10,000	10,000
Carrying value	$ 990	$ 990
Liquidation preference per share (usd per share)	$ 100,000
Depositary shares per share	1.00%
Series F Noncumulative Perpetual Preferred Stock | LIBOR
Class of Stock [Line Items]
Preferred stock, basis spread on variable rate	3.131%
Series G Preferred Stock
Class of Stock [Line Items]
Per annum dividend rate	4.70%
Total shares issued and outstanding (shares)	10,000	10,000
Carrying value	$ 990	$ 990
Liquidation preference per share (usd per share)	$ 100,000
Depositary shares per share	1.00%
Series G Preferred Stock | LIBOR
Class of Stock [Line Items]
Preferred stock, basis spread on variable rate	4.358%
Series H Preferred Stock
Class of Stock [Line Items]
Per annum dividend rate	3.70%
Total shares issued and outstanding (shares)	5,825	5,825
Carrying value	$ 577	$ 577
Liquidation preference per share (usd per share)	$ 100,000
Depositary shares per share	1.00%
Series H Preferred Stock | LIBOR
Class of Stock [Line Items]
Preferred stock, basis spread on variable rate	3.352%
Series I Preferred Stock
Class of Stock [Line Items]
Per annum dividend rate	3.75%
Total shares issued and outstanding (shares)	13,000	13,000
Carrying value	$ 1,287	$ 1,287
Liquidation preference per share (usd per share)	$ 100,000
Depositary shares per share	1.00%
Series I Preferred Stock | LIBOR
Class of Stock [Line Items]
Preferred stock, basis spread on variable rate	2.63%
Series E Noncumulative Perpetual Preferred Stock
Class of Stock [Line Items]
Depositary shares per share	1.00%

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Preferred stock - Summary of Preferred Dividends Paid (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended			9 Months Ended
	Sep. 30, 2022	Jun. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Class of Stock [Line Items]
Preferred dividends paid	$ 69	$ 34	$ 66	$ 177	$ 166
Series A Preferred Stock
Class of Stock [Line Items]
Depositary shares per share	1.00%			1.00%
Dividend paid per share (usd per share)	$ 1,011.11	$ 1,022.22	$ 1,011.11	$ 3,044.44	$ 3,033.33
Preferred dividends paid	$ 5	$ 5	$ 5	$ 15	$ 15
Series D Preferred Stock
Class of Stock [Line Items]
Depositary shares per share	1.00%			1.00%
Dividend paid per share (usd per share)		$ 2,250		$ 2,250	$ 2,250
Preferred dividends paid	$ 0	$ 11	$ 0	$ 11	$ 11
Series E Preferred Stock
Class of Stock [Line Items]
Depositary shares per share	1.00%			1.00%
Dividend paid per share (usd per share)			$ 898.50		$ 2,735
Preferred dividends paid			$ 10		$ 28
Series F Preferred Stock
Class of Stock [Line Items]
Depositary shares per share	1.00%			1.00%
Dividend paid per share (usd per share)	$ 2,312.5		$ 2,312.5	$ 4,625	$ 4,625
Preferred dividends paid	$ 23	0	$ 23	$ 46	$ 46
Series G Preferred Stock
Class of Stock [Line Items]
Depositary shares per share	1.00%			1.00%
Dividend paid per share (usd per share)	$ 2,350		$ 2,350	$ 4,700	$ 4,700
Preferred dividends paid	$ 23	$ 0	$ 23	$ 47	$ 47
Series H Preferred Stock
Class of Stock [Line Items]
Depositary shares per share	1.00%			1.00%
Dividend paid per share (usd per share)	$ 925.00	$ 925.00	$ 925.00	$ 2,775	$ 3,258.06
Preferred dividends paid	$ 6	$ 6	$ 5	$ 17	$ 19
Series I Preferred Stock
Class of Stock [Line Items]
Depositary shares per share	1.00%			1.00%
Dividend paid per share (usd per share)	$ 937.50	$ 937.50		$ 3,145.83
Preferred dividends paid	$ 12	$ 12		$ 41

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Other comprehensive income (loss) - Components (Details) - USD ($) $ in Millions		3 Months Ended			9 Months Ended
		Sep. 30, 2022	Jun. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Pre-tax amount
Total other comprehensive income (loss), Pre-tax amount		$ (1,482)	$ (1,593)	$ (334)	$ (5,206)	$ (1,198)
Tax (expense) benefit
Total other comprehensive income (loss), Tax (expense) benefit		143	164	1	767	180
After-tax amount
Total other comprehensive (loss), net of tax	[1]	(1,339)	(1,429)	(333)	(4,439)	(1,018)
Foreign currency translation
Pre-tax amount
Other comprehensive income (loss), Pre-tax amount		(292)	(436)	(158)	(848)	(247)
Total other comprehensive income (loss), Pre-tax amount		(292)	(436)	(158)	(848)	(247)
Tax (expense) benefit
Other comprehensive income (loss), Tax (expense) benefit		(150)	(119)	(44)	(302)	(54)
Total other comprehensive income (loss), Tax (expense) benefit		(150)	(119)	(44)	(302)	(54)
After-tax amount
Other comprehensive income (loss), After-tax amount		(442)	(555)	(202)	(1,150)	(301)
Total other comprehensive (loss), net of tax		(442)	(555)	(202)	(1,150)	(301)
Unrealized (loss) on assets available-for-sale
Pre-tax amount
Other comprehensive income (loss), Pre-tax amount		(1,205)	(1,167)	(201)	(4,393)	(1,021)
Reclassification adjustment, Pre-tax amount		(1)	0	(2)	(5)	(4)
Total other comprehensive income (loss), Pre-tax amount		(1,206)	(1,167)	(203)	(4,398)	(1,025)
Tax (expense) benefit
Other comprehensive income (loss), Tax (expense) benefit		297	285	51	1,072	245
Reclassification adjustment, Tax (expense) benefit		0	0	0	1	1
Total other comprehensive income (loss), Tax (expense) benefit		297	285	51	1,073	246
After-tax amount
Other comprehensive income (loss), After-tax amount		(908)	(882)	(150)	(3,321)	(776)
Reclassification adjustment, After-tax amount		(1)	0	(2)	(4)	(3)
Total other comprehensive (loss), net of tax		(909)	(882)	(152)	(3,325)	(779)
Defined benefit plans
Pre-tax amount
Reclassification adjustment, Pre-tax amount		17	17	28	51	83
Total other comprehensive income (loss), Pre-tax amount		17	17	28	51	83
Tax (expense) benefit
Reclassification adjustment, Tax (expense) benefit		(4)	(4)	(6)	(7)	(14)
Total other comprehensive income (loss), Tax (expense) benefit		(4)	(4)	(6)	(7)	(14)
After-tax amount
Reclassification adjustment, After-tax amount		13	13	22	44	69
Total other comprehensive (loss), net of tax		13	13	22	44	69
Unrealized gain (loss) on cash flow hedges
Pre-tax amount
Other comprehensive income (loss), Pre-tax amount		(5)	(8)	1	(16)	2
Reclassification adjustment, Pre-tax amount		4	1	(2)	5	(11)
Total other comprehensive income (loss), Pre-tax amount		(1)	(7)	(1)	(11)	(9)
Tax (expense) benefit
Other comprehensive income (loss), Tax (expense) benefit		1	2	0	4	0
Reclassification adjustment, Tax (expense) benefit		(1)	0	0	(1)	2
Total other comprehensive income (loss), Tax (expense) benefit		0	2	0	3	2
After-tax amount
Other comprehensive income (loss), After-tax amount		(4)	(6)	1	(12)	2
Reclassification adjustment, After-tax amount		3	1	(2)	4	(9)
Total other comprehensive (loss), net of tax		(1)	(5)	(1)	(8)	(7)
Unrealized gain (loss) on cash flow hedges | Staff expense
Pre-tax amount
Reclassification adjustment, Pre-tax amount		3	1	(2)	4	(11)
Tax (expense) benefit
Reclassification adjustment, Tax (expense) benefit		(1)	0	0	(1)	2
After-tax amount
Reclassification adjustment, After-tax amount		2	1	(2)	3	(9)
Unrealized gain (loss) on cash flow hedges | Other revenue
Pre-tax amount
Reclassification adjustment, Pre-tax amount		1	0	0	1	0
Tax (expense) benefit
Reclassification adjustment, Tax (expense) benefit		0	0	0	0	0
After-tax amount
Reclassification adjustment, After-tax amount		$ 1	$ 0	$ 0	$ 1	$ 0

[1] Other comprehensive (loss) attributable to The Bank of New York Mellon Corporation shareholders was $(1,320) million for the quarter ended Sept. 30, 2022, $(1,426) million for the quarter ended June 30, 2022, $(333) million for the quarter ended Sept. 30, 2021, $(4,414) million for the nine months ended Sept. 30, 2022 and $(1,018) million for the nine months ended Sept. 30, 2021.

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Fair value measurement - Assets and Liabilities on Recurring Basis (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available-for-sale, amount	$ 86,924	$ 101,839
Trading assets:
Total derivatives fair value	18,054	9,793
Effect of master netting agreements	(13,047)	(6,973)
Total derivative assets	5,007	2,820
Trading assets	12,650	16,577
Other assets	1,599	1,187
Trading liabilities:
Total derivatives fair value	17,618	9,759
Effect of master netting agreements	(13,652)	(6,335)
Derivative liabilities	3,966	3,424
Other liabilities	26	496
Interest rate contracts
Trading assets:
Effect of master netting agreements	(1,054)	(1,424)
Trading liabilities:
Effect of master netting agreements	(1,026)	(2,028)
Foreign exchange contracts
Trading assets:
Effect of master netting agreements	(11,914)	(5,501)
Trading liabilities:
Effect of master netting agreements	(12,624)	(4,111)
Equity contracts
Trading assets:
Effect of master netting agreements	(79)	(48)
Trading liabilities:
Effect of master netting agreements	(2)	(196)
U.S. Treasury
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available-for-sale, amount	28,156	29,409
Sovereign debt/sovereign guaranteed
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available-for-sale, amount	10,335	13,379
Agency residential mortgage-backed securities (“RMBS”)
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available-for-sale, amount	8,365	14,530
Agency commercial mortgage-backed securities (“MBS”)
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available-for-sale, amount	8,100	8,405
Supranational
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available-for-sale, amount	7,599	7,573
Foreign covered bonds
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available-for-sale, amount	5,280	6,238
Collateralized loan obligations (“CLOs”)
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available-for-sale, amount	5,242	4,439
Non-agency RMBS
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available-for-sale, amount	2,113	2,748
U.S. government agencies
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available-for-sale, amount	1,997	2,536
State and political subdivisions
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available-for-sale, amount	1,866	2,514
Other asset-backed securities (“ABS”)
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available-for-sale, amount	1,465	2,190
Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available-for-sale, amount	1,197	2,066
Other debt securities
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available-for-sale, amount	1	1
Not designated as hedging
Trading assets:
Total derivatives fair value	17,179	9,587
Trading liabilities:
Total derivatives fair value	17,593	9,266
Not designated as hedging | Interest rate contracts
Trading assets:
Total derivatives fair value	1,532	3,259
Trading liabilities:
Total derivatives fair value	1,804	2,835
Not designated as hedging | Foreign exchange contracts
Trading assets:
Total derivatives fair value	15,389	6,279
Trading liabilities:
Total derivatives fair value	15,756	6,215
Not designated as hedging | Equity contracts
Trading assets:
Total derivatives fair value	257	49
Trading liabilities:
Total derivatives fair value	30	211
Designated as hedging
Trading assets:
Total derivatives fair value	875	206
Trading liabilities:
Total derivatives fair value	25	493
Designated as hedging | Interest rate contracts
Trading assets:
Total derivatives fair value	195	0
Trading liabilities:
Total derivatives fair value	0	453
Designated as hedging | Foreign exchange contracts
Trading assets:
Total derivatives fair value	680	206
Trading liabilities:
Total derivatives fair value	25	40
Measured at fair value on a recurring basis | Operating segments
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available-for-sale, amount	86,924	101,839
Trading assets:
Debt instruments	4,070	4,197
Equity instruments	4,448	9,766
Effect of master netting agreements	(13,047)	(6,973)
Trading assets	12,650	16,577
Other assets	508	763
Total other assets	1,383	969
Total assets	101,173	119,603
Trading liabilities:
Total trading liabilities	7,494	5,469
Effect of master netting agreements	(13,652)	(6,335)
Derivative liabilities	25
Other liabilities	1	3
Total other liabilities	26	496
Total liabilities	7,520	5,965
Measured at fair value on a recurring basis | Operating segments | Interest rate contracts
Trading assets:
Effect of master netting agreements	(1,053)	(1,424)
Trading liabilities:
Effect of master netting agreements	(1,025)	(2,028)
Measured at fair value on a recurring basis | Operating segments | Foreign exchange contracts
Trading assets:
Effect of master netting agreements	(11,915)	(5,501)
Trading liabilities:
Effect of master netting agreements	(12,625)	(4,111)
Measured at fair value on a recurring basis | Operating segments | Equity contracts
Trading assets:
Effect of master netting agreements	(79)	(48)
Trading liabilities:
Effect of master netting agreements	(2)	(196)
Measured at fair value on a recurring basis | Operating segments | U.S. Treasury
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available-for-sale, amount	28,156	29,409
Measured at fair value on a recurring basis | Operating segments | Sovereign debt/sovereign guaranteed
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available-for-sale, amount	10,335	13,379
Measured at fair value on a recurring basis | Operating segments | Agency residential mortgage-backed securities (“RMBS”)
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available-for-sale, amount	8,365	14,530
Measured at fair value on a recurring basis | Operating segments | Agency commercial mortgage-backed securities (“MBS”)
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available-for-sale, amount	8,100	8,405
Measured at fair value on a recurring basis | Operating segments | Supranational
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available-for-sale, amount	7,599	7,573
Measured at fair value on a recurring basis | Operating segments | Foreign covered bonds
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available-for-sale, amount	5,280	6,238
Measured at fair value on a recurring basis | Operating segments | Collateralized loan obligations (“CLOs”)
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available-for-sale, amount	5,242	4,439
Measured at fair value on a recurring basis | Operating segments | Non-agency commercial MBS
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available-for-sale, amount	2,893	3,125
Measured at fair value on a recurring basis | Operating segments | Foreign government agencies
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available-for-sale, amount	2,315	2,686
Measured at fair value on a recurring basis | Operating segments | Non-agency RMBS
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available-for-sale, amount	2,113	2,748
Measured at fair value on a recurring basis | Operating segments | U.S. government agencies
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available-for-sale, amount	1,997	2,536
Measured at fair value on a recurring basis | Operating segments | State and political subdivisions
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available-for-sale, amount	1,866	2,514
Measured at fair value on a recurring basis | Operating segments | Other asset-backed securities (“ABS”)
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available-for-sale, amount	1,465	2,190
Measured at fair value on a recurring basis | Operating segments | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available-for-sale, amount	1,197	2,066
Measured at fair value on a recurring basis | Operating segments | Other debt securities
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available-for-sale, amount	1	1
Measured at fair value on a recurring basis | Operating segments | Not designated as hedging
Trading assets:
Total derivative assets	4,132	2,614
Trading liabilities:
Derivative liabilities	3,941	2,931
Measured at fair value on a recurring basis | Operating segments | Not designated as hedging | Interest rate contracts
Trading assets:
Total derivative assets	479	1,835
Trading liabilities:
Derivative liabilities	779	807
Measured at fair value on a recurring basis | Operating segments | Not designated as hedging | Foreign exchange contracts
Trading assets:
Total derivative assets	3,474	778
Trading liabilities:
Derivative liabilities	3,131	2,104
Measured at fair value on a recurring basis | Operating segments | Not designated as hedging | Equity contracts
Trading assets:
Total derivative assets	179	1
Trading liabilities:
Derivative liabilities	31	20
Measured at fair value on a recurring basis | Operating segments | Designated as hedging
Trading assets:
Total derivative assets	875	206
Trading liabilities:
Derivative liabilities		493
Measured at fair value on a recurring basis | Operating segments | Designated as hedging | Interest rate contracts
Trading assets:
Total derivative assets	195
Trading liabilities:
Derivative liabilities	0	453
Measured at fair value on a recurring basis | Operating segments | Designated as hedging | Foreign exchange contracts
Trading assets:
Total derivative assets	680	206
Trading liabilities:
Derivative liabilities	25	40
Measured at fair value on a recurring basis | Operating segments | Debt instruments
Trading liabilities:
Total trading liabilities	3,462	2,498
Measured at fair value on a recurring basis | Operating segments | Equity instruments
Trading liabilities:
Total trading liabilities	91	40
Measured at fair value on a recurring basis | Operating segments | Level 1
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available-for-sale, amount	32,491	35,426
Trading assets:
Debt instruments	2,290	1,447
Equity instruments	4,448	9,766
Trading assets	6,782	11,219
Other assets	302	438
Total other assets	302	438
Total assets	$ 39,575	$ 47,083
Percentage of total assets prior to netting	35.00%	37.00%
Trading liabilities:
Total trading liabilities	$ 3,528	$ 2,498
Total derivatives fair value	0
Other liabilities	0	1
Total other liabilities	0	1
Total liabilities	$ 3,528	$ 2,499
Percentage of total liabilities prior to netting	17.00%	20.00%
Measured at fair value on a recurring basis | Operating segments | Level 1 | U.S. Treasury
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available-for-sale, amount	$ 28,156	$ 29,409
Measured at fair value on a recurring basis | Operating segments | Level 1 | Sovereign debt/sovereign guaranteed
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available-for-sale, amount	4,335	6,017
Measured at fair value on a recurring basis | Operating segments | Level 1 | Agency residential mortgage-backed securities (“RMBS”)
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available-for-sale, amount	0	0
Measured at fair value on a recurring basis | Operating segments | Level 1 | Agency commercial mortgage-backed securities (“MBS”)
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available-for-sale, amount	0	0
Measured at fair value on a recurring basis | Operating segments | Level 1 | Supranational
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available-for-sale, amount	0	0
Measured at fair value on a recurring basis | Operating segments | Level 1 | Foreign covered bonds
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available-for-sale, amount	0	0
Measured at fair value on a recurring basis | Operating segments | Level 1 | Collateralized loan obligations (“CLOs”)
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available-for-sale, amount	0	0
Measured at fair value on a recurring basis | Operating segments | Level 1 | Non-agency commercial MBS
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available-for-sale, amount	0	0
Measured at fair value on a recurring basis | Operating segments | Level 1 | Foreign government agencies
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available-for-sale, amount	0	0
Measured at fair value on a recurring basis | Operating segments | Level 1 | Non-agency RMBS
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available-for-sale, amount	0	0
Measured at fair value on a recurring basis | Operating segments | Level 1 | U.S. government agencies
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available-for-sale, amount	0	0
Measured at fair value on a recurring basis | Operating segments | Level 1 | State and political subdivisions
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available-for-sale, amount	0	0
Measured at fair value on a recurring basis | Operating segments | Level 1 | Other asset-backed securities (“ABS”)
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available-for-sale, amount	0	0
Measured at fair value on a recurring basis | Operating segments | Level 1 | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available-for-sale, amount	0	0
Measured at fair value on a recurring basis | Operating segments | Level 1 | Other debt securities
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available-for-sale, amount	0	0
Measured at fair value on a recurring basis | Operating segments | Level 1 | Not designated as hedging
Trading assets:
Total derivatives fair value	44	6
Trading liabilities:
Total derivatives fair value	11	6
Measured at fair value on a recurring basis | Operating segments | Level 1 | Not designated as hedging | Interest rate contracts
Trading assets:
Total derivatives fair value	28	6
Trading liabilities:
Total derivatives fair value	11	1
Measured at fair value on a recurring basis | Operating segments | Level 1 | Not designated as hedging | Foreign exchange contracts
Trading assets:
Total derivatives fair value	0	0
Trading liabilities:
Total derivatives fair value	0	0
Measured at fair value on a recurring basis | Operating segments | Level 1 | Not designated as hedging | Equity contracts
Trading assets:
Total derivatives fair value	16	0
Trading liabilities:
Total derivatives fair value	0	5
Measured at fair value on a recurring basis | Operating segments | Level 1 | Designated as hedging
Trading assets:
Total derivatives fair value	0	0
Trading liabilities:
Total derivatives fair value		0
Measured at fair value on a recurring basis | Operating segments | Level 1 | Designated as hedging | Interest rate contracts
Trading assets:
Total derivatives fair value	0
Trading liabilities:
Total derivatives fair value	0	0
Measured at fair value on a recurring basis | Operating segments | Level 1 | Designated as hedging | Foreign exchange contracts
Trading assets:
Total derivatives fair value	0	0
Trading liabilities:
Total derivatives fair value	0	0
Measured at fair value on a recurring basis | Operating segments | Level 1 | Debt instruments
Trading liabilities:
Total trading liabilities	3,426	2,452
Measured at fair value on a recurring basis | Operating segments | Level 1 | Equity instruments
Trading liabilities:
Total trading liabilities	91	40
Measured at fair value on a recurring basis | Operating segments | Level 2
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available-for-sale, amount	54,433	66,413
Trading assets:
Debt instruments	1,780	2,750
Equity instruments	0	0
Trading assets	18,915	12,331
Other assets	206	325
Total other assets	1,081	531
Total assets	$ 74,429	$ 79,275
Percentage of total assets prior to netting	65.00%	63.00%
Trading liabilities:
Total trading liabilities	$ 17,618	$ 9,306
Total derivatives fair value	25
Other liabilities	1	2
Total other liabilities	26	495
Total liabilities	$ 17,644	$ 9,801
Percentage of total liabilities prior to netting	83.00%	80.00%
Measured at fair value on a recurring basis | Operating segments | Level 2 | U.S. Treasury
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available-for-sale, amount	$ 0	$ 0
Measured at fair value on a recurring basis | Operating segments | Level 2 | Sovereign debt/sovereign guaranteed
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available-for-sale, amount	6,000	7,362
Measured at fair value on a recurring basis | Operating segments | Level 2 | Agency residential mortgage-backed securities (“RMBS”)
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available-for-sale, amount	8,365	14,530
Measured at fair value on a recurring basis | Operating segments | Level 2 | Agency commercial mortgage-backed securities (“MBS”)
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available-for-sale, amount	8,100	8,405
Measured at fair value on a recurring basis | Operating segments | Level 2 | Supranational
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available-for-sale, amount	7,599	7,573
Measured at fair value on a recurring basis | Operating segments | Level 2 | Foreign covered bonds
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available-for-sale, amount	5,280	6,238
Measured at fair value on a recurring basis | Operating segments | Level 2 | Collateralized loan obligations (“CLOs”)
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available-for-sale, amount	5,242	4,439
Measured at fair value on a recurring basis | Operating segments | Level 2 | Non-agency commercial MBS
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available-for-sale, amount	2,893	3,125
Measured at fair value on a recurring basis | Operating segments | Level 2 | Foreign government agencies
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available-for-sale, amount	2,315	2,686
Measured at fair value on a recurring basis | Operating segments | Level 2 | Non-agency RMBS
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available-for-sale, amount	2,113	2,748
Measured at fair value on a recurring basis | Operating segments | Level 2 | U.S. government agencies
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available-for-sale, amount	1,997	2,536
Measured at fair value on a recurring basis | Operating segments | Level 2 | State and political subdivisions
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available-for-sale, amount	1,866	2,514
Measured at fair value on a recurring basis | Operating segments | Level 2 | Other asset-backed securities (“ABS”)
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available-for-sale, amount	1,465	2,190
Measured at fair value on a recurring basis | Operating segments | Level 2 | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available-for-sale, amount	1,197	2,066
Measured at fair value on a recurring basis | Operating segments | Level 2 | Other debt securities
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available-for-sale, amount	1	1
Measured at fair value on a recurring basis | Operating segments | Level 2 | Not designated as hedging
Trading assets:
Total derivatives fair value	17,135	9,581
Trading liabilities:
Total derivatives fair value	17,582	9,260
Measured at fair value on a recurring basis | Operating segments | Level 2 | Not designated as hedging | Interest rate contracts
Trading assets:
Total derivatives fair value	1,504	3,253
Trading liabilities:
Total derivatives fair value	1,793	2,834
Measured at fair value on a recurring basis | Operating segments | Level 2 | Not designated as hedging | Foreign exchange contracts
Trading assets:
Total derivatives fair value	15,389	6,279
Trading liabilities:
Total derivatives fair value	15,756	6,215
Measured at fair value on a recurring basis | Operating segments | Level 2 | Not designated as hedging | Equity contracts
Trading assets:
Total derivatives fair value	242	49
Trading liabilities:
Total derivatives fair value	33	211
Measured at fair value on a recurring basis | Operating segments | Level 2 | Designated as hedging
Trading assets:
Total derivatives fair value	875	206
Trading liabilities:
Total derivatives fair value		493
Measured at fair value on a recurring basis | Operating segments | Level 2 | Designated as hedging | Interest rate contracts
Trading assets:
Total derivatives fair value	195
Trading liabilities:
Total derivatives fair value	0	453
Measured at fair value on a recurring basis | Operating segments | Level 2 | Designated as hedging | Foreign exchange contracts
Trading assets:
Total derivatives fair value	680	206
Trading liabilities:
Total derivatives fair value	25	40
Measured at fair value on a recurring basis | Operating segments | Level 2 | Debt instruments
Trading liabilities:
Total trading liabilities	36	46
Measured at fair value on a recurring basis | Operating segments | Level 2 | Equity instruments
Trading liabilities:
Total trading liabilities	0	0
Measured at fair value on a recurring basis | Operating segments | Level 3
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available-for-sale, amount	0	0
Trading assets:
Debt instruments	0	0
Equity instruments	0	0
Trading assets	0	0
Other assets	0	0
Total other assets	0	0
Total assets	$ 0	$ 0
Percentage of total assets prior to netting	0.00%	0.00%
Trading liabilities:
Total trading liabilities	$ 0	$ 0
Total derivatives fair value	0
Other liabilities	0	0
Total other liabilities	0	0
Total liabilities	$ 0	$ 0
Percentage of total liabilities prior to netting	0.00%	0.00%
Measured at fair value on a recurring basis | Operating segments | Level 3 | U.S. Treasury
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available-for-sale, amount	$ 0	$ 0
Measured at fair value on a recurring basis | Operating segments | Level 3 | Sovereign debt/sovereign guaranteed
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available-for-sale, amount	0	0
Measured at fair value on a recurring basis | Operating segments | Level 3 | Agency residential mortgage-backed securities (“RMBS”)
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available-for-sale, amount	0	0
Measured at fair value on a recurring basis | Operating segments | Level 3 | Agency commercial mortgage-backed securities (“MBS”)
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available-for-sale, amount	0	0
Measured at fair value on a recurring basis | Operating segments | Level 3 | Supranational
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available-for-sale, amount	0	0
Measured at fair value on a recurring basis | Operating segments | Level 3 | Foreign covered bonds
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available-for-sale, amount	0	0
Measured at fair value on a recurring basis | Operating segments | Level 3 | Collateralized loan obligations (“CLOs”)
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available-for-sale, amount	0	0
Measured at fair value on a recurring basis | Operating segments | Level 3 | Non-agency commercial MBS
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available-for-sale, amount	0	0
Measured at fair value on a recurring basis | Operating segments | Level 3 | Foreign government agencies
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available-for-sale, amount	0	0
Measured at fair value on a recurring basis | Operating segments | Level 3 | Non-agency RMBS
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available-for-sale, amount	0	0
Measured at fair value on a recurring basis | Operating segments | Level 3 | U.S. government agencies
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available-for-sale, amount	0	0
Measured at fair value on a recurring basis | Operating segments | Level 3 | State and political subdivisions
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available-for-sale, amount	0	0
Measured at fair value on a recurring basis | Operating segments | Level 3 | Other asset-backed securities (“ABS”)
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available-for-sale, amount	0	0
Measured at fair value on a recurring basis | Operating segments | Level 3 | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available-for-sale, amount	0	0
Measured at fair value on a recurring basis | Operating segments | Level 3 | Other debt securities
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available-for-sale, amount	0	0
Measured at fair value on a recurring basis | Operating segments | Level 3 | Not designated as hedging
Trading assets:
Total derivatives fair value	0	0
Trading liabilities:
Total derivatives fair value	0	0
Measured at fair value on a recurring basis | Operating segments | Level 3 | Not designated as hedging | Interest rate contracts
Trading assets:
Total derivatives fair value	0	0
Trading liabilities:
Total derivatives fair value	0	0
Measured at fair value on a recurring basis | Operating segments | Level 3 | Not designated as hedging | Foreign exchange contracts
Trading assets:
Total derivatives fair value	0	0
Trading liabilities:
Total derivatives fair value	0	0
Measured at fair value on a recurring basis | Operating segments | Level 3 | Not designated as hedging | Equity contracts
Trading assets:
Total derivatives fair value	0	0
Trading liabilities:
Total derivatives fair value	0	0
Measured at fair value on a recurring basis | Operating segments | Level 3 | Designated as hedging
Trading assets:
Total derivatives fair value	0	0
Trading liabilities:
Total derivatives fair value		0
Measured at fair value on a recurring basis | Operating segments | Level 3 | Designated as hedging | Interest rate contracts
Trading assets:
Total derivatives fair value	0
Trading liabilities:
Total derivatives fair value	0	0
Measured at fair value on a recurring basis | Operating segments | Level 3 | Designated as hedging | Foreign exchange contracts
Trading assets:
Total derivatives fair value	0	0
Trading liabilities:
Total derivatives fair value	0	0
Measured at fair value on a recurring basis | Operating segments | Level 3 | Debt instruments
Trading liabilities:
Total trading liabilities	0	0
Measured at fair value on a recurring basis | Operating segments | Level 3 | Equity instruments
Trading liabilities:
Total trading liabilities	0	0
Measured at fair value on a recurring basis | Operating segments | NAV
Trading assets:
Assets measured at NAV	$ 216	$ 218

XML

Fair value measurement - Certain Items on Recurring Basis (Details) - Measured at fair value on a recurring basis - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Non-agency RMBS
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Total carrying value	$ 2,113	$ 2,748
Non-agency RMBS | AAA/ AA-
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	86.00%	81.00%
Non-agency RMBS | A/ A-
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	2.00%	2.00%
Non-agency RMBS | BBB/ BBB-
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	0.00%	0.00%
Non-agency RMBS | BB and lower
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	7.00%	8.00%
Non-agency RMBS | Not Rated
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	5.00%	9.00%
Non-agency RMBS | 2008-2022
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Total carrying value	$ 1,796	$ 2,190
Non-agency RMBS | 2008-2022 | AAA/ AA-
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	100.00%	100.00%
Non-agency RMBS | 2008-2022 | A/ A-
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	0.00%	0.00%
Non-agency RMBS | 2008-2022 | BBB/ BBB-
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	0.00%	0.00%
Non-agency RMBS | 2008-2022 | BB and lower
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	0.00%	0.00%
Non-agency RMBS | 2008-2022 | Not Rated
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	0.00%	0.00%
Non-agency RMBS | 2007
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Total carrying value	$ 56	$ 114
Non-agency RMBS | 2007 | AAA/ AA-
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	0.00%	0.00%
Non-agency RMBS | 2007 | A/ A-
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	6.00%	4.00%
Non-agency RMBS | 2007 | BBB/ BBB-
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	0.00%	0.00%
Non-agency RMBS | 2007 | BB and lower
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	50.00%	39.00%
Non-agency RMBS | 2007 | Not Rated
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	44.00%	57.00%
Non-agency RMBS | 2006
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Total carrying value	$ 91	$ 181
Non-agency RMBS | 2006 | AAA/ AA-
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	0.00%	0.00%
Non-agency RMBS | 2006 | A/ A-
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	33.00%	24.00%
Non-agency RMBS | 2006 | BBB/ BBB-
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	0.00%	0.00%
Non-agency RMBS | 2006 | BB and lower
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	50.00%	33.00%
Non-agency RMBS | 2006 | Not Rated
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	17.00%	43.00%
Non-agency RMBS | 2005
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Total carrying value	$ 95	$ 167
Non-agency RMBS | 2005 | AAA/ AA-
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	5.00%	3.00%
Non-agency RMBS | 2005 | A/ A-
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	3.00%	5.00%
Non-agency RMBS | 2005 | BBB/ BBB-
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	1.00%	1.00%
Non-agency RMBS | 2005 | BB and lower
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	42.00%	37.00%
Non-agency RMBS | 2005 | Not Rated
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	49.00%	54.00%
Non-agency RMBS | 2004 and earlier
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Total carrying value	$ 75	$ 96
Non-agency RMBS | 2004 and earlier | AAA/ AA-
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	14.00%	16.00%
Non-agency RMBS | 2004 and earlier | A/ A-
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	9.00%	10.00%
Non-agency RMBS | 2004 and earlier | BBB/ BBB-
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	5.00%	5.00%
Non-agency RMBS | 2004 and earlier | BB and lower
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	58.00%	57.00%
Non-agency RMBS | 2004 and earlier | Not Rated
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	14.00%	12.00%
Non-agency commercial MBS | 2009-2022 | Domestic
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Total carrying value	$ 2,893	$ 3,125
Non-agency commercial MBS | 2009-2022 | AAA/ AA- | Domestic
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	100.00%	100.00%
Non-agency commercial MBS | 2009-2022 | A/ A- | Domestic
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	0.00%	0.00%
Non-agency commercial MBS | 2009-2022 | BBB/ BBB- | Domestic
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	0.00%	0.00%
Non-agency commercial MBS | 2009-2022 | BB and lower | Domestic
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	0.00%	0.00%
Non-agency commercial MBS | 2009-2022 | Not Rated | Domestic
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	0.00%	0.00%
Foreign covered bonds
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Total carrying value	$ 5,280	$ 6,238
Foreign covered bonds | AAA/ AA-
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	100.00%	100.00%
Foreign covered bonds | A/ A-
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	0.00%	0.00%
Foreign covered bonds | BBB/ BBB-
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	0.00%	0.00%
Foreign covered bonds | BB and lower
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	0.00%	0.00%
Foreign covered bonds | Not Rated
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	0.00%	0.00%
Foreign covered bonds | Canada
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Total carrying value	$ 2,108	$ 2,332
Foreign covered bonds | Canada | AAA/ AA-
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	100.00%	100.00%
Foreign covered bonds | Canada | A/ A-
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	0.00%	0.00%
Foreign covered bonds | Canada | BBB/ BBB-
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	0.00%	0.00%
Foreign covered bonds | Canada | BB and lower
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	0.00%	0.00%
Foreign covered bonds | Canada | Not Rated
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	0.00%	0.00%
Foreign covered bonds | UK
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Total carrying value	$ 1,088	$ 1,141
Foreign covered bonds | UK | AAA/ AA-
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	100.00%	100.00%
Foreign covered bonds | UK | A/ A-
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	0.00%	0.00%
Foreign covered bonds | UK | BBB/ BBB-
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	0.00%	0.00%
Foreign covered bonds | UK | BB and lower
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	0.00%	0.00%
Foreign covered bonds | UK | Not Rated
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	0.00%	0.00%
Foreign covered bonds | Australia
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Total carrying value	$ 613	$ 762
Foreign covered bonds | Australia | AAA/ AA-
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	100.00%	100.00%
Foreign covered bonds | Australia | A/ A-
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	0.00%	0.00%
Foreign covered bonds | Australia | BBB/ BBB-
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	0.00%	0.00%
Foreign covered bonds | Australia | BB and lower
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	0.00%	0.00%
Foreign covered bonds | Australia | Not Rated
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	0.00%	0.00%
Foreign covered bonds | Germany
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Total carrying value	$ 556	$ 638
Foreign covered bonds | Germany | AAA/ AA-
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	100.00%	100.00%
Foreign covered bonds | Germany | A/ A-
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	0.00%	0.00%
Foreign covered bonds | Germany | BBB/ BBB-
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	0.00%	0.00%
Foreign covered bonds | Germany | BB and lower
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	0.00%	0.00%
Foreign covered bonds | Germany | Not Rated
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	0.00%	0.00%
Foreign covered bonds | Norway
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Total carrying value	$ 350	$ 457
Foreign covered bonds | Norway | AAA/ AA-
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	100.00%	100.00%
Foreign covered bonds | Norway | A/ A-
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	0.00%	0.00%
Foreign covered bonds | Norway | BBB/ BBB-
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	0.00%	0.00%
Foreign covered bonds | Norway | BB and lower
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	0.00%	0.00%
Foreign covered bonds | Norway | Not Rated
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	0.00%	0.00%
Foreign covered bonds | Other
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Total carrying value	$ 565	$ 908
Foreign covered bonds | Other | AAA/ AA-
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	100.00%	100.00%
Foreign covered bonds | Other | A/ A-
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	0.00%	0.00%
Foreign covered bonds | Other | BBB/ BBB-
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	0.00%	0.00%
Foreign covered bonds | Other | BB and lower
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	0.00%	0.00%
Foreign covered bonds | Other | Not Rated
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	0.00%	0.00%
Sovereign debt/sovereign guaranteed
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Total carrying value	$ 10,335	$ 13,379
Sovereign debt/sovereign guaranteed | AAA/ AA-
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	86.00%	78.00%
Sovereign debt/sovereign guaranteed | A/ A-
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	6.00%	5.00%
Sovereign debt/sovereign guaranteed | BBB/ BBB-
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	7.00%	16.00%
Sovereign debt/sovereign guaranteed | BB and lower
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	1.00%	1.00%
Sovereign debt/sovereign guaranteed | Not Rated
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	0.00%	0.00%
Sovereign debt/sovereign guaranteed | Canada
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Total carrying value	$ 676	$ 630
Sovereign debt/sovereign guaranteed | Canada | AAA/ AA-
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	100.00%	100.00%
Sovereign debt/sovereign guaranteed | Canada | A/ A-
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	0.00%	0.00%
Sovereign debt/sovereign guaranteed | Canada | BBB/ BBB-
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	0.00%	0.00%
Sovereign debt/sovereign guaranteed | Canada | BB and lower
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	0.00%	0.00%
Sovereign debt/sovereign guaranteed | Canada | Not Rated
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	0.00%	0.00%
Sovereign debt/sovereign guaranteed | UK
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Total carrying value	$ 1,693	$ 1,969
Sovereign debt/sovereign guaranteed | UK | AAA/ AA-
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	100.00%	100.00%
Sovereign debt/sovereign guaranteed | UK | A/ A-
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	0.00%	0.00%
Sovereign debt/sovereign guaranteed | UK | BBB/ BBB-
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	0.00%	0.00%
Sovereign debt/sovereign guaranteed | UK | BB and lower
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	0.00%	0.00%
Sovereign debt/sovereign guaranteed | UK | Not Rated
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	0.00%	0.00%
Sovereign debt/sovereign guaranteed | Germany
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Total carrying value	$ 3,027	$ 3,585
Sovereign debt/sovereign guaranteed | Germany | AAA/ AA-
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	100.00%	100.00%
Sovereign debt/sovereign guaranteed | Germany | A/ A-
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	0.00%	0.00%
Sovereign debt/sovereign guaranteed | Germany | BBB/ BBB-
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	0.00%	0.00%
Sovereign debt/sovereign guaranteed | Germany | BB and lower
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	0.00%	0.00%
Sovereign debt/sovereign guaranteed | Germany | Not Rated
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	0.00%	0.00%
Sovereign debt/sovereign guaranteed | France
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Total carrying value	$ 1,552	$ 1,921
Sovereign debt/sovereign guaranteed | France | AAA/ AA-
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	100.00%	100.00%
Sovereign debt/sovereign guaranteed | France | A/ A-
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	0.00%	0.00%
Sovereign debt/sovereign guaranteed | France | BBB/ BBB-
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	0.00%	0.00%
Sovereign debt/sovereign guaranteed | France | BB and lower
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	0.00%	0.00%
Sovereign debt/sovereign guaranteed | France | Not Rated
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	0.00%	0.00%
Sovereign debt/sovereign guaranteed | Singapore
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Total carrying value	$ 1,059	$ 1,018
Sovereign debt/sovereign guaranteed | Singapore | AAA/ AA-
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	100.00%	100.00%
Sovereign debt/sovereign guaranteed | Singapore | A/ A-
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	0.00%	0.00%
Sovereign debt/sovereign guaranteed | Singapore | BBB/ BBB-
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	0.00%	0.00%
Sovereign debt/sovereign guaranteed | Singapore | BB and lower
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	0.00%	0.00%
Sovereign debt/sovereign guaranteed | Singapore | Not Rated
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	0.00%	0.00%
Sovereign debt/sovereign guaranteed | Italy
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Total carrying value	$ 549	$ 1,382
Sovereign debt/sovereign guaranteed | Italy | AAA/ AA-
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	0.00%	0.00%
Sovereign debt/sovereign guaranteed | Italy | A/ A-
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	0.00%	0.00%
Sovereign debt/sovereign guaranteed | Italy | BBB/ BBB-
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	100.00%	100.00%
Sovereign debt/sovereign guaranteed | Italy | BB and lower
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	0.00%	0.00%
Sovereign debt/sovereign guaranteed | Italy | Not Rated
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	0.00%	0.00%
Sovereign debt/sovereign guaranteed | Spain
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Total carrying value	$ 228	$ 782
Sovereign debt/sovereign guaranteed | Spain | AAA/ AA-
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	0.00%	0.00%
Sovereign debt/sovereign guaranteed | Spain | A/ A-
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	35.00%	8.00%
Sovereign debt/sovereign guaranteed | Spain | BBB/ BBB-
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	65.00%	92.00%
Sovereign debt/sovereign guaranteed | Spain | BB and lower
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	0.00%	0.00%
Sovereign debt/sovereign guaranteed | Spain | Not Rated
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	0.00%	0.00%
Sovereign debt/sovereign guaranteed | Hong Kong
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Total carrying value	$ 488	$ 531
Sovereign debt/sovereign guaranteed | Hong Kong | AAA/ AA-
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	100.00%	100.00%
Sovereign debt/sovereign guaranteed | Hong Kong | A/ A-
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	0.00%	0.00%
Sovereign debt/sovereign guaranteed | Hong Kong | BBB/ BBB-
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	0.00%	0.00%
Sovereign debt/sovereign guaranteed | Hong Kong | BB and lower
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	0.00%	0.00%
Sovereign debt/sovereign guaranteed | Hong Kong | Not Rated
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	0.00%	0.00%
Sovereign debt/sovereign guaranteed | Japan
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Total carrying value	$ 423	$ 363
Sovereign debt/sovereign guaranteed | Japan | AAA/ AA-
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	0.00%	0.00%
Sovereign debt/sovereign guaranteed | Japan | A/ A-
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	100.00%	100.00%
Sovereign debt/sovereign guaranteed | Japan | BBB/ BBB-
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	0.00%	0.00%
Sovereign debt/sovereign guaranteed | Japan | BB and lower
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	0.00%	0.00%
Sovereign debt/sovereign guaranteed | Japan | Not Rated
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	0.00%	0.00%
Sovereign debt/sovereign guaranteed | Other
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Total carrying value	$ 640	$ 1,198
Sovereign debt/sovereign guaranteed | Other | AAA/ AA-
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	63.00%	71.00%
Sovereign debt/sovereign guaranteed | Other | A/ A-
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	18.00%	19.00%
Sovereign debt/sovereign guaranteed | Other | BBB/ BBB-
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	0.00%	0.00%
Sovereign debt/sovereign guaranteed | Other | BB and lower
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	19.00%	10.00%
Sovereign debt/sovereign guaranteed | Other | Not Rated
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	0.00%	0.00%
Foreign government agencies
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Total carrying value	$ 2,315	$ 2,686
Foreign government agencies | AAA/ AA-
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	92.00%	92.00%
Foreign government agencies | A/ A-
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	8.00%	8.00%
Foreign government agencies | BBB/ BBB-
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	0.00%	0.00%
Foreign government agencies | BB and lower
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	0.00%	0.00%
Foreign government agencies | Not Rated
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	0.00%	0.00%
Foreign government agencies | Canada
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Total carrying value	$ 625	$ 566
Foreign government agencies | Canada | AAA/ AA-
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	83.00%	78.00%
Foreign government agencies | Canada | A/ A-
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	17.00%	22.00%
Foreign government agencies | Canada | BBB/ BBB-
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	0.00%	0.00%
Foreign government agencies | Canada | BB and lower
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	0.00%	0.00%
Foreign government agencies | Canada | Not Rated
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	0.00%	0.00%
Foreign government agencies | Netherlands
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Total carrying value	$ 349	$ 765
Foreign government agencies | Netherlands | AAA/ AA-
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	100.00%	100.00%
Foreign government agencies | Netherlands | A/ A-
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	0.00%	0.00%
Foreign government agencies | Netherlands | BBB/ BBB-
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	0.00%	0.00%
Foreign government agencies | Netherlands | BB and lower
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	0.00%	0.00%
Foreign government agencies | Netherlands | Not Rated
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	0.00%	0.00%
Foreign government agencies | Norway
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Total carrying value	$ 461	$ 269
Foreign government agencies | Norway | AAA/ AA-
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	100.00%	100.00%
Foreign government agencies | Norway | A/ A-
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	0.00%	0.00%
Foreign government agencies | Norway | BBB/ BBB-
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	0.00%	0.00%
Foreign government agencies | Norway | BB and lower
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	0.00%	0.00%
Foreign government agencies | Norway | Not Rated
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	0.00%	0.00%
Foreign government agencies | France
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Total carrying value	$ 177	$ 301
Foreign government agencies | France | AAA/ AA-
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	100.00%	100.00%
Foreign government agencies | France | A/ A-
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	0.00%	0.00%
Foreign government agencies | France | BBB/ BBB-
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	0.00%	0.00%
Foreign government agencies | France | BB and lower
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	0.00%	0.00%
Foreign government agencies | France | Not Rated
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	0.00%	0.00%
Foreign government agencies | Sweden
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Total carrying value	$ 275	$ 252
Foreign government agencies | Sweden | AAA/ AA-
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	100.00%	100.00%
Foreign government agencies | Sweden | A/ A-
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	0.00%	0.00%
Foreign government agencies | Sweden | BBB/ BBB-
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	0.00%	0.00%
Foreign government agencies | Sweden | BB and lower
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	0.00%	0.00%
Foreign government agencies | Sweden | Not Rated
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	0.00%	0.00%
Foreign government agencies | Finland
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Total carrying value	$ 202	$ 267
Foreign government agencies | Finland | AAA/ AA-
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	100.00%	100.00%
Foreign government agencies | Finland | A/ A-
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	0.00%	0.00%
Foreign government agencies | Finland | BBB/ BBB-
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	0.00%	0.00%
Foreign government agencies | Finland | BB and lower
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	0.00%	0.00%
Foreign government agencies | Finland | Not Rated
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	0.00%	0.00%
Foreign government agencies | Other
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Total carrying value	$ 226	$ 266
Foreign government agencies | Other | AAA/ AA-
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	63.00%	64.00%
Foreign government agencies | Other | A/ A-
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	37.00%	36.00%
Foreign government agencies | Other | BBB/ BBB-
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	0.00%	0.00%
Foreign government agencies | Other | BB and lower
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	0.00%	0.00%
Foreign government agencies | Other | Not Rated
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Ratings	0.00%	0.00%
Sovereign debt/sovereign guaranteed | Sovereign debt/sovereign guaranteed | Brazil | Carrying amount
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Total carrying value	$ 122	$ 119

XML

Fair value measurement - Assets on Nonrecurring Basis (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other assets	$ 1,599	$ 1,187
Measured at fair value on a nonrecurring basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans	35	42
Other assets	437	265
Total assets	472	307
Measured at fair value on a nonrecurring basis | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans	0	0
Other assets	0	0
Total assets	0	0
Measured at fair value on a nonrecurring basis | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans	35	42
Other assets	437	265
Total assets	472	307
Measured at fair value on a nonrecurring basis | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans	0	0
Other assets	0	0
Total assets	$ 0	$ 0

XML

Fair value measurement - Financial Instruments (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Assets:
Interest-bearing deposits with the Federal Reserve and other central banks	$ 107,427	$ 102,467
Interest-bearing deposits with banks	13,890	16,630
Securities held-to-maturity	50,485	56,775
Other financial assets	1,599	1,187
Liabilities:
Noninterest-bearing deposits	88,275	93,695
Payables to customers and broker-dealers	23,741	25,150
Estimated fair value
Assets:
Interest-bearing deposits with the Federal Reserve and other central banks	107,427	102,467
Interest-bearing deposits with banks	13,887	16,636
Federal funds sold and securities purchased under resale agreements	23,483	29,607
Securities held-to-maturity	50,485	56,775
Loans	68,585	67,026
Other financial assets	6,378	7,300
Total assets	270,245	279,811
Liabilities:
Noninterest-bearing deposits	88,275	93,695
Interest-bearing deposits	208,794	224,665
Federal funds purchased and securities sold under repurchase agreements	11,339	11,566
Payables to customers and broker-dealers	23,741	25,150
Borrowings	683	956
Long-term debt	25,975	26,701
Total liabilities	358,807	382,733
Estimated fair value | Level 1
Assets:
Interest-bearing deposits with the Federal Reserve and other central banks	0	0
Interest-bearing deposits with banks	0	0
Federal funds sold and securities purchased under resale agreements	0	0
Securities held-to-maturity	10,750	12,488
Loans	0	0
Other financial assets	4,707	6,061
Total assets	15,457	18,549
Liabilities:
Noninterest-bearing deposits	0	0
Interest-bearing deposits	0	0
Federal funds purchased and securities sold under repurchase agreements	0	0
Payables to customers and broker-dealers	0	0
Borrowings	0	0
Long-term debt	0	0
Total liabilities	0	0
Estimated fair value | Level 2
Assets:
Interest-bearing deposits with the Federal Reserve and other central banks	107,427	102,467
Interest-bearing deposits with banks	13,887	16,636
Federal funds sold and securities purchased under resale agreements	23,483	29,607
Securities held-to-maturity	39,735	44,287
Loans	68,585	67,026
Other financial assets	1,671	1,239
Total assets	254,788	261,262
Liabilities:
Noninterest-bearing deposits	88,275	93,695
Interest-bearing deposits	208,794	224,665
Federal funds purchased and securities sold under repurchase agreements	11,339	11,566
Payables to customers and broker-dealers	23,741	25,150
Borrowings	683	956
Long-term debt	25,975	26,701
Total liabilities	358,807	382,733
Estimated fair value | Level 3
Assets:
Interest-bearing deposits with the Federal Reserve and other central banks	0	0
Interest-bearing deposits with banks	0	0
Federal funds sold and securities purchased under resale agreements	0	0
Securities held-to-maturity	0	0
Loans	0	0
Other financial assets	0	0
Total assets	0	0
Liabilities:
Noninterest-bearing deposits	0	0
Interest-bearing deposits	0	0
Federal funds purchased and securities sold under repurchase agreements	0	0
Payables to customers and broker-dealers	0	0
Borrowings	0	0
Long-term debt	0	0
Total liabilities	0	0
Carrying amount
Assets:
Interest-bearing deposits with the Federal Reserve and other central banks	107,427	102,467
Interest-bearing deposits with banks	13,890	16,630
Federal funds sold and securities purchased under resale agreements	23,483	29,607
Securities held-to-maturity	57,257	56,866
Loans	68,963	66,860
Other financial assets	6,378	7,300
Total assets	277,398	279,730
Liabilities:
Noninterest-bearing deposits	88,275	93,695
Interest-bearing deposits	213,714	225,999
Federal funds purchased and securities sold under repurchase agreements	11,339	11,566
Payables to customers and broker-dealers	23,741	25,150
Borrowings	683	956
Long-term debt	27,820	25,931
Total liabilities	$ 365,572	$ 383,297

XML

Fair value option - Assets and Liabilities (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Assets of consolidated investment management funds:
Trading assets	$ 12,650	$ 16,577
Other assets	1,599	1,187
Liabilities of consolidated investment management funds:
Other liabilities	26	496
Investment Management funds
Assets of consolidated investment management funds:
Trading assets	206	443
Other assets	8	19
Total assets	214	462
Liabilities of consolidated investment management funds:
Other liabilities	1	3
Total liabilities	$ 1	$ 3

XML

Fair value option - Narrative (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Fair Value Disclosures [Abstract]
Subordinated notes, fair value	$ 10	$ 15

XML

Derivative instruments - Narrative (Details) - USD ($)	3 Months Ended			9 Months Ended
	Sep. 30, 2022	Jun. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Derivative Instruments and Hedging Activities Disclosure [Line Items]
Counterparty default losses recorded	$ 0
Non-derivative financial instruments designated as hedges of net investments in foreign subsidiaries were all long-term liabilities of BNY Mellon in various currencies				$ 0
Gain or (loss) recognized in income on derivatives	(3,000,000)	$ 7,000,000	$ 1,000,000	$ 7,000,000	$ 13,000,000
Value-at-risk methodology assumed holding period for instruments				1 day
Value-at-risk methodology confidence level percentage				99.00%
Additional collateral The Bank of New York Mellon would have to post for existing collateral arrangements, if The Bank of New York Mellon had fallen below investment grade	253,000,000			$ 253,000,000		$ 71,000,000
Foreign exchange contracts | Net investment hedging
Derivative Instruments and Hedging Activities Disclosure [Line Items]
Hedged financial instruments, notional amount of derivative	8,100,000,000			8,100,000,000
Foreign exchange contracts | Forecasted Foreign Currency
Derivative Instruments and Hedging Activities Disclosure [Line Items]
Loss to be reclassified in next 12 months from AOCI to earnings				9,000,000
Foreign exchange contracts | Forecasted Foreign Currency | Cash flow hedges
Derivative Instruments and Hedging Activities Disclosure [Line Items]
Hedged financial instruments, notional amount of derivative	407,000,000			$ 407,000,000
Original maturities, maximum, of hedged instruments				12 months
Pre-tax lossrecognized in OCI related to cash flow hedges				$ 9,000,000
Foreign Exchange Forward
Derivative Instruments and Hedging Activities Disclosure [Line Items]
Hedging derivatives, maturities, maximum				1 year
Securities available-for-sale | Interest rate swap
Derivative Instruments and Hedging Activities Disclosure [Line Items]
Hedged financial instruments	32,600,000,000			$ 32,600,000,000
Hedged financial instruments, notional amount of derivative	32,600,000,000			32,600,000,000
Securities available-for-sale | Foreign Exchange Forward
Derivative Instruments and Hedging Activities Disclosure [Line Items]
Hedged financial instruments	110,000,000			110,000,000
Hedged financial instruments, notional amount of derivative	110,000,000			110,000,000
Long-term debt | Interest rate swap
Derivative Instruments and Hedging Activities Disclosure [Line Items]
Hedged financial instruments	22,900,000,000			22,900,000,000
Hedged financial instruments, notional amount of derivative	22,900,000,000			$ 22,900,000,000
Original maturities, minimum, of hedged instruments				5 years
Original maturities, maximum, of hedged instruments				30 years
Not Designated as Hedging Instrument, Economic Hedge | Equity Swap
Derivative Instruments and Hedging Activities Disclosure [Line Items]
Gain or (loss) recognized in income on derivatives	$ (11,000,000)	$ (30,000,000)	$ (2,000,000)	$ (54,000,000)	$ 21,000,000

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Derivative instruments - Gains (Losses) Related to Hedging Derivative Portfolio Recognized in the Income Statement (Details) - USD ($) $ in Millions	3 Months Ended			9 Months Ended
	Sep. 30, 2022	Jun. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Derivative Instruments, Gain (Loss) [Line Items]
(Loss) gain recognized in the consolidated income statement due to fair value and cash flow hedging relationships	$ (3)	$ 7	$ 1	$ 7	$ 13
Interest rate contracts | Securities available-for-sale | Interest revenue
Derivative Instruments, Gain (Loss) [Line Items]
Gain or (loss) recognized on derivatives	1,294	866	183	3,644	649
Gain or (loss) recognized on hedged item	(1,292)	(858)	(184)	(3,630)	(647)
Interest rate contracts | Long-term debt | Interest expense
Derivative Instruments, Gain (Loss) [Line Items]
Gain or (loss) recognized on derivatives	(540)	(292)	(96)	(1,573)	(427)
Gain or (loss) recognized on hedged item	539	291	96	1,570	426
FX contracts | Staff expense
Derivative Instruments, Gain (Loss) [Line Items]
Loss (gain) on cash flow hedges	(3)	(1)	2	(4)	11
FX contracts | Investment and other income
Derivative Instruments, Gain (Loss) [Line Items]
Loss (gain) on cash flow hedges	(1)	0	0	(1)	0
FX contracts | Securities available-for-sale
Derivative Instruments, Gain (Loss) [Line Items]
Gain from components excluded from assessment of fair value hedge effectiveness, net (less than)	1	1	1	1	1
FX contracts | Securities available-for-sale | Foreign exchange revenue
Derivative Instruments, Gain (Loss) [Line Items]
Gain or (loss) recognized on derivatives	(2)	(1)	0	(4)	7
Gain or (loss) recognized on hedged item	$ 2	$ 2	$ 0	$ 5	$ (6)

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Derivative instruments - Impact of Hedging Derivatives Used in Net Investment Hedging Relationships (Details) - FX contracts - USD ($) $ in Millions	3 Months Ended			9 Months Ended
	Sep. 30, 2022	Jun. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Derivative Instruments, Gain (Loss) [Line Items]
Gain or (loss) recognized in accumulated OCI on derivatives	$ 631	$ 505	$ 201	$ 1,279	$ 221
Net interest revenue
Derivative Instruments, Gain (Loss) [Line Items]
Gain or (loss) reclassified from accumulated OCI into income	$ 0	$ 0	$ 0	$ 0	$ 0

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Derivative instruments - Hedged Items in Fair Value Hedging Relationships (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Long-term debt | Fair value hedging
Derivative [Line Items]
Carrying amount of hedged asset or liability, Long-term debt	$ 21,627	$ 22,447
Hedge accounting basis adjustment increase (decrease), Long-term debt	(1,368)	183
Hedged liability, discontinued fair value hedge, cumulative increase (decrease)	(52)	(72)
Securities – Available-for-sale | Fair value hedging
Derivative [Line Items]
Carrying amount of hedged asset or liability, Available-for-sale securities	32,585	24,400
Hedge accounting basis adjustment increase (decrease), Available-for-sale securities	(2,948)	590
Hedge accounting basis adjustment increase (decrease), discontinued hedges	90	165
Not designated as hedging | Securities – Available-for-sale | Foreign exchange contracts
Derivative [Line Items]
Hedged financial instruments, carrying amount	$ 110	$ 141

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Derivative instruments - Impact of Derivative Instruments on the Balance Sheet (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Asset derivatives fair value
Total derivatives fair value	$ 18,054	$ 9,793
Effect of master netting agreements	(13,047)	(6,973)
Fair value after effect of master netting agreements	5,007	2,820
Liability derivatives fair value
Total derivatives fair value	17,618	9,759
Effect of master netting agreements	(13,652)	(6,335)
Fair value after effect of master netting agreements	3,966	3,424
Derivative asset, collateral, obligation to return cash, offset	2,497	1,424
Derivative liability, collateral, right to reclaim cash, offset	3,102	786
Interest rate contracts
Asset derivatives fair value
Effect of master netting agreements	(1,054)	(1,424)
Liability derivatives fair value
Effect of master netting agreements	(1,026)	(2,028)
Foreign exchange contracts
Asset derivatives fair value
Effect of master netting agreements	(11,914)	(5,501)
Liability derivatives fair value
Effect of master netting agreements	(12,624)	(4,111)
Equity contracts
Asset derivatives fair value
Effect of master netting agreements	(79)	(48)
Liability derivatives fair value
Effect of master netting agreements	(2)	(196)
Designated as hedging
Asset derivatives fair value
Total derivatives fair value	875	206
Liability derivatives fair value
Total derivatives fair value	25	493
Designated as hedging | Interest rate contracts
Notional value
Notional amount of hedge	55,575	46,717
Asset derivatives fair value
Total derivatives fair value	195	0
Liability derivatives fair value
Total derivatives fair value	0	453
Designated as hedging | Foreign exchange contracts
Notional value
Notional amount of hedge	8,610	10,367
Asset derivatives fair value
Total derivatives fair value	680	206
Liability derivatives fair value
Total derivatives fair value	25	40
Not designated as hedging
Asset derivatives fair value
Total derivatives fair value	17,179	9,587
Liability derivatives fair value
Total derivatives fair value	17,593	9,266
Not designated as hedging | Interest rate contracts
Notional value
Notional amount of hedge	219,878	193,747
Asset derivatives fair value
Total derivatives fair value	1,532	3,259
Liability derivatives fair value
Total derivatives fair value	1,804	2,835
Not designated as hedging | Foreign exchange contracts
Notional value
Notional amount of hedge	870,047	915,694
Asset derivatives fair value
Total derivatives fair value	15,389	6,279
Liability derivatives fair value
Total derivatives fair value	15,756	6,215
Not designated as hedging | Equity contracts
Notional value
Notional amount of hedge	4,304	9,659
Asset derivatives fair value
Total derivatives fair value	257	49
Liability derivatives fair value
Total derivatives fair value	30	211
Not designated as hedging | Credit contracts
Notional value
Notional amount of hedge	275	190
Asset derivatives fair value
Total derivatives fair value	1	0
Liability derivatives fair value
Total derivatives fair value	$ 3	$ 5

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Derivative instruments - Revenue from Foreign Exchange and Other Trading (Details) - USD ($) $ in Millions	3 Months Ended			9 Months Ended
	Sep. 30, 2022	Jun. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Foreign exchange revenue	$ 203	$ 222	$ 185	$ 632	$ 600
Other trading revenue	65	45	20	115	12
Gain or (loss) recognized in income on derivatives	$ (3)	$ 7	$ 1	$ 7	$ 13

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Derivative instruments - Contracts Falling under Early Termination Provisions (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Credit Derivatives [Line Items]
Aggregate fair value of OTC derivatives in net liability positions	$ 4,709	$ 3,606
Collateral posted	5,667	5,388
A3 | A-
Credit Derivatives [Line Items]
Aggregate fair value of OTC derivatives in net liability positions	123	56
Baa2 | BBB
Credit Derivatives [Line Items]
Aggregate fair value of OTC derivatives in net liability positions	621	563
Ba1 | BB+ and lower
Credit Derivatives [Line Items]
Aggregate fair value of OTC derivatives in net liability positions	$ 1,802	$ 1,778

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Derivative instruments - Offsetting (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Derivative Asset
Derivatives subject to netting arrangements, Gross assets recognized	$ 16,634	$ 8,302
Total derivatives subject to netting arrangements, Gross amounts offset in the balance sheet	13,047	6,973
Derivatives subject to netting arrangements, Net assets recognized in the balance sheet	3,587	1,329
Total derivatives, Gross amounts not offset in the balance sheet, Financial instruments	239	275
Total derivatives, Gross amounts not offset in the balance sheet, Cash collateral received	0	0
Derivative assets subject to netting arrangements, Net amount	3,348	1,054
Total derivatives not subject to netting arrangements	1,420	1,491
Total derivatives, Gross assets recognized	18,054	9,793
Fair value after effect of master netting agreements	5,007	2,820
Total derivatives, Net amount	4,768	2,545
Reverse repurchase agreements, Gross assets recognized	60,063	72,661
Reverse repurchase agreements, Gross amounts offset in the balance sheet	45,006	54,709
Reverse repurchase agreements, Net assets recognized on the balance sheet	15,057	17,952
Reverse repurchase agreements, Gross amounts not offset in the balance sheet, Financial instruments	14,940	17,922
Reverse repurchase agreements, Gross amounts not offset in the balance sheet, Cash collateral received	0	0
Reverse repurchase agreements, Net amount	117	30
Securities borrowing, Gross assets recognized	8,426	11,655
Securities borrowing, Net assets recognized on the balance sheet	8,426	11,655
Securities borrowing, Gross amounts not offset in the balance sheet, Financial instruments	8,001	11,036
Securities borrowing, Net amount	425	619
Total, Gross assets recognized	86,543	94,109
Total, Gross amounts offset in the balance sheet	58,053	61,682
Total, Net assets recognized on the balance sheet	28,490	32,427
Total, Gross amounts not offset in the balance sheet, Financial instruments	23,180	29,233
Total, Gross amounts not offset in the balance sheet, Cash collateral received	0	0
Total, Net amount	5,310	3,194
Derivative Liability
Derivatives subject to netting arrangements, Gross liabilities recognized	16,479	9,093
Derivatives subject to netting arrangements, Gross amounts offset in the balance sheet	13,652	6,335
Derivatives subject to netting arrangements, Net liabilities recognized in the balance sheet	2,827	2,758
Total derivatives, Gross amounts not offset in the balance sheet, Financial instruments	457	1,226
Total derivatives, Gross amounts not offset in the balance sheet, Cash collateral pledged	0	0
Derivative liabilities subject to netting arrangements, Net amount	2,370	1,532
Total derivatives not subject to netting arrangements	1,139	666
Total derivatives, Gross liabilities recognized	17,618	9,759
Fair value after effect of master netting agreements	3,966	3,424
Total derivatives, Net amount	3,509	2,198
Repurchase agreements, Gross liabilities recognized	54,476	64,734
Repurchase agreements, Gross amounts offset in the balance sheet	45,006	54,709
Repurchase agreements, Net liabilities recognized on the balance sheet	9,470	10,025
Repurchase agreements, Gross amounts not offset in the balance sheet, Financial instruments	9,440	10,025
Repurchase agreements, Gross amounts not offset in the balance sheet, Cash collateral pledged	29	0
Repurchase agreements, Net amount	1	0
Securities lending, Gross liabilities recognized	1,869	1,541
Securities lending, Net liabilities recognized on the balance sheet	1,869	1,541
Securities lending, Gross amounts not offset in the balance sheet, Financial instruments	1,777	1,478
Securities lending, Net amount	92	63
Total, Gross liabilities recognized	73,963	76,034
Total, Gross amounts offset in the balance sheet	58,658	61,044
Total, Net liabilities recognized on the balance sheet	15,305	14,990
Total, Gross amounts not offset in the balance sheet, Financial instruments	11,674	12,729
Total, Gross amounts not offset in the balance sheet, Cash collateral pledged	29	0
Total, Net amount	3,602	2,261
Interest rate contracts
Derivative Asset
Derivatives subject to netting arrangements, Gross assets recognized	1,404	2,132
Total derivatives subject to netting arrangements, Gross amounts offset in the balance sheet	1,054	1,424
Derivatives subject to netting arrangements, Net assets recognized in the balance sheet	350	708
Total derivatives, Gross amounts not offset in the balance sheet, Financial instruments	57	206
Total derivatives, Gross amounts not offset in the balance sheet, Cash collateral received	0	0
Derivative assets subject to netting arrangements, Net amount	293	502
Derivative Liability
Derivatives subject to netting arrangements, Gross liabilities recognized	1,560	3,263
Derivatives subject to netting arrangements, Gross amounts offset in the balance sheet	1,026	2,028
Derivatives subject to netting arrangements, Net liabilities recognized in the balance sheet	534	1,235
Total derivatives, Gross amounts not offset in the balance sheet, Financial instruments	66	1,197
Total derivatives, Gross amounts not offset in the balance sheet, Cash collateral pledged	0	0
Derivative liabilities subject to netting arrangements, Net amount	468	38
Foreign exchange contracts
Derivative Asset
Derivatives subject to netting arrangements, Gross assets recognized	14,986	6,122
Total derivatives subject to netting arrangements, Gross amounts offset in the balance sheet	11,914	5,501
Derivatives subject to netting arrangements, Net assets recognized in the balance sheet	3,072	621
Total derivatives, Gross amounts not offset in the balance sheet, Financial instruments	162	69
Total derivatives, Gross amounts not offset in the balance sheet, Cash collateral received	0	0
Derivative assets subject to netting arrangements, Net amount	2,910	552
Derivative Liability
Derivatives subject to netting arrangements, Gross liabilities recognized	14,897	5,619
Derivatives subject to netting arrangements, Gross amounts offset in the balance sheet	12,624	4,111
Derivatives subject to netting arrangements, Net liabilities recognized in the balance sheet	2,273	1,508
Total derivatives, Gross amounts not offset in the balance sheet, Financial instruments	391	29
Total derivatives, Gross amounts not offset in the balance sheet, Cash collateral pledged	0	0
Derivative liabilities subject to netting arrangements, Net amount	1,882	1,479
Equity and other contracts
Derivative Asset
Derivatives subject to netting arrangements, Gross assets recognized	244	48
Total derivatives subject to netting arrangements, Gross amounts offset in the balance sheet	79	48
Derivatives subject to netting arrangements, Net assets recognized in the balance sheet	165	0
Total derivatives, Gross amounts not offset in the balance sheet, Financial instruments	20	0
Total derivatives, Gross amounts not offset in the balance sheet, Cash collateral received	0	0
Derivative assets subject to netting arrangements, Net amount	145	0
Derivative Liability
Derivatives subject to netting arrangements, Gross liabilities recognized	22	211
Derivatives subject to netting arrangements, Gross amounts offset in the balance sheet	2	196
Derivatives subject to netting arrangements, Net liabilities recognized in the balance sheet	20	15
Total derivatives, Gross amounts not offset in the balance sheet, Financial instruments	0	0
Total derivatives, Gross amounts not offset in the balance sheet, Cash collateral pledged	0	0
Derivative liabilities subject to netting arrangements, Net amount	$ 20	$ 15

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Derivative instruments - Secured Borrowings (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Repurchase agreements	$ 54,476	$ 64,734
Securities lending	1,869	1,541
Total borrowings	56,345	66,275
Overnight and continuous
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Repurchase agreements	49,477	60,155
Securities lending	1,869	1,541
Total borrowings	51,346	61,696
Up to 30 days
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Repurchase agreements	300	704
Securities lending	0	0
Total borrowings	300	704
30-90 days
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Repurchase agreements	3,824	3,450
Securities lending	0	0
Total borrowings	3,824	3,450
Over 90 days
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Repurchase agreements	875	425
Securities lending	0	0
Total borrowings	875	425
U.S. Treasury
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Repurchase agreements	48,098	57,310
U.S. Treasury | Overnight and continuous
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Repurchase agreements	46,527	56,556
U.S. Treasury | Up to 30 days
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Repurchase agreements	0	304
U.S. Treasury | 30-90 days
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Repurchase agreements	1,063	450
U.S. Treasury | Over 90 days
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Repurchase agreements	508	0
Agency residential mortgage-backed securities (“RMBS”)
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Repurchase agreements	1,828	2,796
Securities lending	101	152
Agency residential mortgage-backed securities (“RMBS”) | Overnight and continuous
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Repurchase agreements	1,786	2,795
Securities lending	101	152
Agency residential mortgage-backed securities (“RMBS”) | Up to 30 days
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Repurchase agreements	40	1
Securities lending	0	0
Agency residential mortgage-backed securities (“RMBS”) | 30-90 days
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Repurchase agreements	2	0
Securities lending	0	0
Agency residential mortgage-backed securities (“RMBS”) | Over 90 days
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Repurchase agreements	0	0
Securities lending	0	0
Corporate bonds
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Repurchase agreements	1,190	1,314
Corporate bonds | Overnight and continuous
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Repurchase agreements	114	97
Corporate bonds | Up to 30 days
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Repurchase agreements	160	77
Corporate bonds | 30-90 days
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Repurchase agreements	647	870
Corporate bonds | Over 90 days
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Repurchase agreements	269	270
State and political subdivisions
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Repurchase agreements	430	845
State and political subdivisions | Overnight and continuous
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Repurchase agreements	27	44
State and political subdivisions | Up to 30 days
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Repurchase agreements	55	16
State and political subdivisions | 30-90 days
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Repurchase agreements	250	630
State and political subdivisions | Over 90 days
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Repurchase agreements	98	155
U.S. government agencies
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Repurchase agreements	397	503
U.S. government agencies | Overnight and continuous
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Repurchase agreements	397	503
U.S. government agencies | Up to 30 days
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Repurchase agreements	0	0
U.S. government agencies | 30-90 days
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Repurchase agreements	0	0
U.S. government agencies | Over 90 days
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Repurchase agreements	0	0
Sovereign debt/sovereign guaranteed
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Repurchase agreements	623	160
Sovereign debt/sovereign guaranteed | Overnight and continuous
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Repurchase agreements	622	160
Sovereign debt/sovereign guaranteed | Up to 30 days
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Repurchase agreements	0	0
Sovereign debt/sovereign guaranteed | 30-90 days
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Repurchase agreements	1	0
Sovereign debt/sovereign guaranteed | Over 90 days
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Repurchase agreements	0	0
Other debt securities
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Repurchase agreements	32	275
Securities lending	75	88
Other debt securities | Overnight and continuous
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Repurchase agreements	4	0
Securities lending	75	88
Other debt securities | Up to 30 days
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Repurchase agreements	19	30
Securities lending	0	0
Other debt securities | 30-90 days
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Repurchase agreements	9	245
Securities lending	0	0
Other debt securities | Over 90 days
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Repurchase agreements	0	0
Securities lending	0	0
Equity securities
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Repurchase agreements	1,878	1,531
Securities lending	1,693	1,301
Equity securities | Overnight and continuous
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Repurchase agreements	0	0
Securities lending	1,693	1,301
Equity securities | Up to 30 days
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Repurchase agreements	26	276
Securities lending	0	0
Equity securities | 30-90 days
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Repurchase agreements	1,852	1,255
Securities lending	0	0
Equity securities | Over 90 days
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Repurchase agreements	0	0
Securities lending	$ 0	$ 0

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Commitments and contingent liabilities - Summary of Off-Balance Sheet Credit Risks, Net of Participations (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Securities lending indemnifications, joint venture	$ 71,000	$ 67,000
Invested in reverse repurchase agreements
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Cash collateral invested in indemnified repurchase agreements	50,000	48,000
Lending commitments
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Off-balance sheet credit risks	50,000	46,183
Standby letters of credit
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Off-balance sheet credit risks	2,013	1,971
Off-balance sheet credit risks participations	138	128
Commercial letters of credit
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Off-balance sheet credit risks	46	56
Securities lending indemnifications
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Off-balance sheet credit risks	$ 482,002	$ 487,298

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Commitments and contingent liabilities - Narrative (Details) $ in Millions							2 Months Ended	9 Months Ended
	Jun. 07, 2022 USD ($)	May 09, 2022 USD ($)	Aug. 04, 2021 claim investmentFund	May 20, 2021 USD ($) claim	Sep. 09, 2020 USD ($) director claim	Dec. 17, 2015 lawsuit	Dec. 31, 2020 USD ($)	Sep. 30, 2022 USD ($) claim	Jun. 30, 2022 USD ($)	Feb. 28, 2022 claim	Dec. 31, 2021 USD ($) claim	Oct. 31, 2021 claim	Sep. 30, 2021 USD ($) claim	May 31, 2016 claim	Dec. 31, 2009 claim	Nov. 30, 2009 claim
Commitments and Contingencies Disclosure [Line Items]
Lending commitment maturing in less than one year								$ 29,800
Lending commitment maturing in one to five years								19,400
Lending commitment maturing over five years								859
Allowance for credit losses on lending related commitments								$ 72	$ 62		$ 45		$ 40
Collateralization percentage generally required for a securities lending transaction with indemnification against broker default								102.00%
Securities lending indemnifications, secured amount of collateral								$ 506,000			511,000
Securities lending indemnifications, joint venture								71,000			67,000
Securities lending indemnifications, collateral joint venture								76,000			71,000
Unsettled Repurchase Agreements
Commitments and Contingencies Disclosure [Line Items]
Unsettled repurchase and reverse repurchase agreements								2,500			2,600
Unsettled Reverse Repurchase Agreements
Commitments and Contingencies Disclosure [Line Items]
Unsettled repurchase and reverse repurchase agreements								$ 6,100			$ 9,100
Mortgage-Securitization Trusts Proceedings | Federal Court
Commitments and Contingencies Disclosure [Line Items]
Number of lawsuits or class actions (claim) | claim								3
Mortgage-Securitization Trusts Proceedings | State Court
Commitments and Contingencies Disclosure [Line Items]
Number of lawsuits or class actions (claim) | claim								7		3	3	3	3	1
Matters Related to R. Allen Stanford
Commitments and Contingencies Disclosure [Line Items]
Number of lawsuits or class actions (claim) | claim				1											2	1
New claims filed, number (in claims) | claim								3
Brazilian Postalis Litigation
Commitments and Contingencies Disclosure [Line Items]
New claims filed, number (in claims)			3			3
Claims settled, number (in claims) | claim					1
Number of directors held liable (in directors) | director					2
Damages awarded, value	$ 2	$ 20		$ 3	$ 50
Number of investment funds | investmentFund			3
Damages sought, value					$ 2
German Tax Matters | Foreign Tax Authority
Commitments and Contingencies Disclosure [Line Items]
Damages sought, value							$ 150
Maximum
Commitments and Contingencies Disclosure [Line Items]
Loss contingency, aggregate range of reasonable loss (up to)								$ 520
Standby letters of credit
Commitments and Contingencies Disclosure [Line Items]
Standby letters of credit (SBLC) collateralized with cash and securities								161			$ 172
SBLC expiring within one year								1,400
SBLC expiring within one to five years								621
SBLC expiring over five years								0
Off-balance sheet credit risks								2,013			1,971
Commercial letters of credit
Commitments and Contingencies Disclosure [Line Items]
Off-balance sheet credit risks								$ 46			$ 56

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Commitments and contingent liabilities - Standby Letters of Credits by Investment Grade (Details) - Standby letters of credit	Sep. 30, 2022	Dec. 31, 2021
Investment grade
Concentration Risk [Line Items]
Standby letters of credit by investment grade	76.00%	85.00%
Non-investment grade
Concentration Risk [Line Items]
Standby letters of credit by investment grade	24.00%	15.00%

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Commitments and contingent liabilities - Significant Industry Concentrations Related to Credit Exposure (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Loans	$ 69,829	$ 67,787
Financial institutions
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Loans	11,105	$ 10,232
Unfunded commitments	33,200
Total exposure	44,300
Financial institutions | Securities industry
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Loans	1,700
Unfunded commitments	18,800
Total exposure	20,500
Financial institutions | Asset managers
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Loans	1,600
Unfunded commitments	8,000
Total exposure	9,600
Financial institutions | Banks
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Loans	7,300
Unfunded commitments	1,500
Total exposure	8,800
Financial institutions | Insurance
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Loans	100
Unfunded commitments	3,700
Total exposure	3,800
Financial institutions | Government
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Loans	0
Unfunded commitments	300
Total exposure	300
Financial institutions | Other
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Loans	400
Unfunded commitments	900
Total exposure	1,300
Commercial
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Loans	2,100
Unfunded commitments	11,600
Total exposure	13,700
Commercial | Manufacturing
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Loans	800
Unfunded commitments	4,100
Total exposure	4,900
Commercial | Services and other
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Loans	1,000
Unfunded commitments	3,100
Total exposure	4,100
Commercial | Energy and utilities
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Loans	200
Unfunded commitments	3,700
Total exposure	3,900
Commercial | Media and telecom
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Loans	100
Unfunded commitments	700
Total exposure	$ 800

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Business segments - Narrative (Details)	9 Months Ended
	Sep. 30, 2022 business
Segment Reporting [Abstract]
Number of principal businesses (business)	3

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Business segments - Contribution of Segments to Overall Profitability (Details) - USD ($) $ in Millions	3 Months Ended			9 Months Ended
	Sep. 30, 2022	Jun. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Segment Reporting Information [Line Items]
Total fee and other revenue	$ 3,353	$ 3,430	$ 3,394	$ 10,011	$ 9,975
Net interest revenue (expense)	926	824	641	2,448	1,941
Provision for credit losses	(30)	47	(45)	19	(214)
Noninterest expense	3,679	3,112	2,918	9,797	8,547
Net income (loss) attributable to noncontrolling interests	0	(5)	(4)	(13)	6
Operating segments
Segment Reporting Information [Line Items]
Total fee and other revenue	3,353	3,435	3,398	10,024	9,969
Net interest revenue (expense)	926	824	641	2,448	1,941
Total revenue (loss)	4,279	4,259	4,039	12,472	11,910
Provision for credit losses	(30)	47	(45)	19	(214)
Noninterest expense	3,679	3,112	2,918	9,797	8,547
Income (loss) before income taxes	$ 630	$ 1,100	$ 1,166	$ 2,656	$ 3,577
Pre-tax operating margin	15.00%	26.00%	29.00%	21.00%	30.00%
Average assets	$ 415,670	$ 437,623	$ 446,761	$ 431,074	$ 453,106
Operating segments | Securities Services
Segment Reporting Information [Line Items]
Total fee and other revenue	1,536	1,549	1,488	4,488	4,352
Net interest revenue (expense)	538	457	349	1,372	1,059
Total revenue (loss)	2,074	2,006	1,837	5,860	5,411
Provision for credit losses	(6)	13	(19)	(3)	(127)
Noninterest expense	1,557	1,656	1,543	4,723	4,362
Income (loss) before income taxes	$ 523	$ 337	$ 313	$ 1,140	$ 1,176
Pre-tax operating margin	25.00%	17.00%	17.00%	19.00%	22.00%
Average assets	$ 203,063	$ 219,797	$ 226,930	$ 214,518	$ 228,714
Operating segments | Market and Wealth Services
Segment Reporting Information [Line Items]
Total fee and other revenue	989	974	890	2,869	2,707
Net interest revenue (expense)	378	340	283	1,014	861
Total revenue (loss)	1,367	1,314	1,173	3,883	3,568
Provision for credit losses	(1)	4	(16)	1	(64)
Noninterest expense	737	702	668	2,147	2,002
Income (loss) before income taxes	$ 631	$ 608	$ 521	$ 1,735	$ 1,630
Pre-tax operating margin	46.00%	46.00%	44.00%	45.00%	46.00%
Average assets	$ 138,204	$ 141,952	$ 143,630	$ 140,435	$ 145,562
Operating segments | Investment and Wealth Management
Segment Reporting Information [Line Items]
Total fee and other revenue	805	837	985	2,549	2,880
Net interest revenue (expense)	57	62	47	176	142
Total revenue (loss)	862	899	1,032	2,725	3,022
Provision for credit losses	3	0	(7)	0	(7)
Noninterest expense	1,356	691	691	2,802	2,077
Income (loss) before income taxes	$ (497)	$ 208	$ 348	$ (77)	$ 952
Pre-tax operating margin	(57.00%)	23.00%	34.00%	(3.00%)	31.00%
Average assets	$ 29,996	$ 33,668	$ 30,195	$ 33,077	$ 30,870
Net income (loss) attributable to noncontrolling interests	0	(5)	(4)	(13)	6
Operating segments | Other
Segment Reporting Information [Line Items]
Total fee and other revenue	23	75	35	118	30
Net interest revenue (expense)	(47)	(35)	(38)	(114)	(121)
Total revenue (loss)	(24)	40	(3)	4	(91)
Provision for credit losses	(26)	30	(3)	21	(16)
Noninterest expense	29	63	16	125	106
Income (loss) before income taxes	(27)	(53)	(16)	(142)	(181)
Average assets	$ 44,407	$ 42,206	$ 46,006	$ 43,044	$ 47,960

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Supplemental information to the Consolidated Statement of Cash Flows (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Supplemental Cash Flow Information [Abstract]
Transfers from loans to other assets for other real estate owned	$ 1	$ 1
Change in assets of consolidated investment management funds	248	18
Change in liabilities of consolidated investment management funds	2	2
Change in nonredeemable noncontrolling interests of consolidated investment management funds	189	130
Securities purchased not settled	126	531
Securities sold not settled	0	29
Available-for-sale securities transferred to held-to-maturity securities	6,067	11,028
Premises and equipment/capitalized software funded by finance lease obligations	0	11
Premises and equipment/operating lease obligations	$ 177	$ 72