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