Interest Income and Interest Expense

9 Months Ended

Sep. 30, 2013

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 230 of JPMorgan Chase’s 2012 Annual Report.

Details of interest income and interest expense were as follows.

	Three months ended September 30,								Nine months ended September 30,
(in millions)	2013				2012				2013				2012
Interest income
Loans	$	8,300			$	9,018			$	25,154			$	27,022
Securities	1,997				1,764				5,665				6,160
Trading assets	1,998				2,120				6,468				6,779
Federal funds sold and securities purchased under resale agreements	487				569				1,491				1,866
Securities borrowed	(35		)	(c)	(18		)	(c)	(71		)	(c)	7
Deposits with banks	264				132				649				420
Other assets(a)	151				44				378				175
Total interest income	$	13,162			$	13,629			$	39,734			$	42,429
Interest expense
Interest-bearing deposits	$	514			$	626			$	1,598			$	2,085
Short-term and other liabilities(b)	524				407				1,559				1,329
Long-term debt	1,236				1,464				3,792				4,724
Beneficial interests issued by consolidated VIEs	113				156				373				503
Total interest expense	$	2,387			$	2,653			$	7,322			$	8,641
Net interest income	$	10,775			$	10,976			$	32,412			$	33,788
Provision for credit losses	(543		)		1,789				121				2,729
Net interest income after provision for credit losses	$	11,318			$	9,187			$	32,291			$	31,059

(a) Largely margin loans.

(b) Includes brokerage customer payables.

(c) Negative interest income is a result of increased client-driven demand for certain securities combined with the impact of low interest rates; the offset of this matched book activity is reflected as lower net interest expense reported within short-term and other liabilities.