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Net Interest Income and Noninterest Income (Tables)
12 Months Ended
Dec. 31, 2020
Revenue from Contract with Customer [Abstract]  
Disaggregation of Revenue
The table below presents the Corporation’s net interest income and noninterest income disaggregated by revenue source for 2020, 2019 and 2018. For more information, see Note 1 – Summary of Significant Accounting Principles. For a disaggregation of noninterest income by business segment and All Other, see Note 23 – Business Segment Information.
(Dollars in millions)202020192018
Net interest income
Interest income
Loans and leases$34,029 $43,086 $40,811 
Debt securities9,790 11,806 11,724 
Federal funds sold and securities borrowed or purchased under agreements to resell903 4,843 3,176 
Trading account assets4,128 5,196 4,811 
Other interest income2,735 6,305 6,247 
Total interest income51,585 71,236 66,769 
Interest expense
Deposits1,943 7,188 4,495 
Short-term borrowings987 7,208 5,839 
Trading account liabilities974 1,249 1,358 
Long-term debt4,321 6,700 6,915 
Total interest expense8,225 22,345 18,607 
Net interest income$43,360 $48,891 $48,162 
Noninterest income
Fees and commissions
Card income
Interchange fees (1)
$3,954 $3,834 $3,866 
Other card income1,702 1,963 1,958 
Total card income5,656 5,797 5,824 
Service charges
Deposit-related fees5,991 6,588 6,667 
Lending-related fees1,150 1,086 1,100 
Total service charges7,141 7,674 7,767 
Investment and brokerage services
Asset management fees10,708 10,241 10,189 
Brokerage fees3,866 3,661 3,971 
Total investment and brokerage services 14,574 13,902 14,160 
Investment banking fees
Underwriting income4,698 2,998 2,722 
Syndication fees861 1,184 1,347 
Financial advisory services1,621 1,460 1,258 
Total investment banking fees7,180 5,642 5,327 
Total fees and commissions34,551 33,015 33,078 
Market making and similar activities8,355 9,034 9,008 
Other income (loss)(738)304 772 
Total noninterest income$42,168 $42,353 $42,858 
(1)Gross interchange fees were $9.2 billion, $10.0 billion and $9.5 billion for 2020, 2019 and 2018, respectively, and are presented net of $5.5 billion, $6.2 billion and $5.6 billion of expenses for rewards and partner payments as well as certain other card costs for the same periods.