Net Interest Income and Noninterest Income (Tables)

12 Months Ended

Dec. 31, 2021

Revenue from Contract with Customer [Abstract]

The table below presents the Corporation’s net interest income and noninterest income disaggregated by revenue source for 2021, 2020 and 2019. 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)	2021		2020		2019
Net interest income
Interest income
Loans and leases	$	29,282	$	34,029	$	43,086
Debt securities	12,376		9,790		11,806
Federal funds sold and securities borrowed or purchased under agreements to resell (1)	(90)		903		4,843
Trading account assets	3,770		4,128		5,196
Other interest income	2,334		2,735		6,305
Total interest income	47,672		51,585		71,236

Interest expense
Deposits	537		1,943		7,188
Short-term borrowings (1)	(358)		987		7,208
Trading account liabilities	1,128		974		1,249
Long-term debt	3,431		4,321		6,700
Total interest expense	4,738		8,225		22,345
Net interest income	$	42,934	$	43,360	$	48,891

Noninterest income
Fees and commissions
Card income
Interchange fees (2)	$	4,560	$	3,954	$	3,834
Other card income	1,658		1,702		1,963
Total card income	6,218		5,656		5,797
Service charges
Deposit-related fees	6,271		5,991		6,588
Lending-related fees	1,233		1,150		1,086
Total service charges	7,504		7,141		7,674
Investment and brokerage services
Asset management fees	12,729		10,708		10,241
Brokerage fees	3,961		3,866		3,661
Total investment and brokerage services	16,690		14,574		13,902
Investment banking fees
Underwriting income	5,077		4,698		2,998
Syndication fees	1,499		861		1,184
Financial advisory services	2,311		1,621		1,460
Total investment banking fees	8,887		7,180		5,642
Total fees and commissions	39,299		34,551		33,015
Market making and similar activities	8,691		8,355		9,034
Other income (loss)	(1,811)		(738)		304
Total noninterest income	$	46,179	$	42,168	$	42,353

(1)For more information on negative interest, see Note 1 – Summary of Significant Accounting Principles.

(2)Gross interchange fees and merchant income were $11.5 billion, $9.2 billion and $10.0 billion for 2021, 2020 and 2019, respectively, and are presented net of $6.9 billion, $5.5 billion and $6.2 billion of expenses for rewards and partner payments as well as certain other card costs for the same periods.