Interest Income and Interest Expense

6 Months Ended

Jun. 30, 2012

Interest Income (Expense), Net [Abstract]

INTEREST INCOME AND INTEREST EXPENSE

Interest income and Interest expense

For a description of JPMorgan Chase’s accounting policies regarding interest income and interest expense, see Note 8 on page 212 of JPMorgan Chase’s 2011 Annual Report.

Details of interest income and interest expense were as follows.

	Three months ended June 30,						Six months ended June 30,
(in millions)	2012				2011		2012		2011
Interest income
Loans	$	8,902			$	9,140	$	18,004	$	18,647
Securities	2,101				2,590		4,396		4,806
Trading assets	2,265				2,966		4,659		5,851
Federal funds sold and securities purchased under resale agreements	646				604		1,297		1,147
Securities borrowed	(12		)	(c)	30		25		77
Deposits with banks	136				144		288		245
Other assets(a)	61				158		131		306
Total interest income	14,099				15,632		28,800		31,079
Interest expense
Interest-bearing deposits	737				1,123		1,459		2,045
Short-term and other liabilities(b)	513				890		922		1,708
Long-term debt	1,538				1,581		3,260		3,169
Beneficial interests issued by consolidated VIEs	165				202		347		416
Total interest expense	2,953				3,796		5,988		7,338
Net interest income	11,146				11,836		22,812		23,741
Provision for credit losses	214				1,810		940		2,979
Net interest income after provision for credit losses	$	10,932			$	10,026	$	21,872	$	20,762

(a) Predominantly margin loans.

(b) Includes brokerage customer payables.

(c) Negative interest income for the three months ended June 30, 2012, is a result of increased client-driven demand for certain securities combined with the impact of low interest rates.