Net Interest Income and Noninterest Income (Tables)

6 Months Ended

Jun. 30, 2022

Revenue from Contract with Customer [Abstract]

The table below presents the Corporation’s net interest income and noninterest income disaggregated by revenue source for the three and six months ended June 30, 2022 and 2021. For more information, see Note 1 – Summary of Significant Accounting Principles to the Consolidated Financial Statements of the Corporation’s 2021 Annual Report on Form 10-K. For a disaggregation of noninterest income by business segment and All Other, see Note 17 – Business Segment Information.



	Three Months Ended June 30	Six Months Ended June 30
(Dollars in millions)			2022		2021		2022		2021
Net interest income
Interest income
Loans and leases			$	8,222	$	7,123	$	15,574	$	14,357
Debt securities			4,049		2,820		7,872		5,550
Federal funds sold and securities borrowed or purchased under agreements to resell (1)			396		(42)		389		(49)
Trading account assets			1,223		954		2,304		1,826
Other interest income			1,085		532		1,730		1,098
Total interest income			14,975		11,387		27,869		22,782

Interest expense
Deposits			320		128		484		261
Short-term borrowings (1)			553		(85)		441		(164)
Trading account liabilities			370		293		734		539
Long-term debt			1,288		818		2,194		1,716
Total interest expense			2,531		1,154		3,853		2,352
Net interest income			$	12,444	$	10,233	$	24,016	$	20,430

Noninterest income
Fees and commissions
Card income
Interchange fees (2)			$	1,072	$	1,210	$	2,007	$	2,277
Other card income			483		376		951		744
Total card income			1,555		1,586		2,958		3,021
Service charges
Deposit-related fees			1,417		1,557		2,947		3,052
Lending-related fees			300		317		603		614
Total service charges			1,717		1,874		3,550		3,666
Investment and brokerage services
Asset management fees			3,102		3,156		6,388		6,158
Brokerage fees			989		967		1,995		2,028
Total investment and brokerage services			4,091		4,123		8,383		8,186
Investment banking fees
Underwriting income			435		1,314		1,107		2,860
Syndication fees			301		401		613		701
Financial advisory services			392		407		865		807
Total investment banking fees			1,128		2,122		2,585		4,368
Total fees and commissions			8,491		9,705		17,476		19,241
Market making and similar activities			2,717		1,826		5,955		5,355
Other income (loss)			(964)		(298)		(1,531)		(739)
Total noninterest income			$	10,244	$	11,233	$	21,900	$	23,857

(1)For more information on negative interest, see Note 1 – Summary of Significant Accounting Principles to the Consolidated Financial Statements of the Corporation’s 2021 Annual Report on Form 10-K.

(2)Gross interchange fees and merchant income were $3.3 billion and $2.9 billion for the three months ended June 30, 2022 and 2021 and are presented net of $2.2 billion and $1.7 billion of expenses for rewards and partner payments as well as certain other card costs for the same periods. Gross interchange fees and merchant income were $6.2 billion and 5.4 billion for the six months ended June 30, 2022 and 2021 and are presented net of $4.2 billion and $3.1 billion of expenses for rewards and partner payments as well as certain other card costs for the same periods.