Net Interest Income and Noninterest Income (Tables)

9 Months Ended

Sep. 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 nine months ended September 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 September 30	Nine Months Ended September 30
(Dollars in millions)			2022		2021		2022		2021
Net interest income
Interest income
Loans and leases			$	10,231	$	7,502	$	25,805	$	21,859
Debt securities			4,239		3,282		12,111		8,832
Federal funds sold and securities borrowed or purchased under agreements to resell (1)			1,446		6		1,835		(43)
Trading account assets			1,449		967		3,753		2,793
Other interest income			2,256		579		3,986		1,677
Total interest income			19,621		12,336		47,490		35,118

Interest expense
Deposits			1,235		133		1,719		394
Short-term borrowings (1)			2,264		(41)		2,705		(205)
Trading account liabilities			383		285		1,117		824
Long-term debt			1,974		865		4,168		2,581
Total interest expense			5,856		1,242		9,709		3,594
Net interest income			$	13,765	$	11,094	$	37,781	$	31,524

Noninterest income
Fees and commissions
Card income
Interchange fees (2)			$	1,060	$	1,154	$	3,067	$	3,431
Other card income			513		429		1,464		1,173
Total card income			1,573		1,583		4,531		4,604
Service charges
Deposit-related fees			1,162		1,619		4,109		4,671
Lending-related fees			304		309		907		923
Total service charges			1,466		1,928		5,016		5,594
Investment and brokerage services
Asset management fees			2,920		3,276		9,308		9,434
Brokerage fees			875		960		2,870		2,988
Total investment and brokerage services			3,795		4,236		12,178		12,422
Investment banking fees
Underwriting income			452		1,168		1,559		4,028
Syndication fees			283		346		896		1,047
Financial advisory services			432		654		1,297		1,461
Total investment banking fees			1,167		2,168		3,752		6,536
Total fees and commissions			8,001		9,915		25,477		29,156
Market making and similar activities			3,068		2,005		9,023		7,360
Other income (loss)			(332)		(248)		(1,863)		(987)
Total noninterest income			$	10,737	$	11,672	$	32,637	$	35,529

(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 $3.0 billion for the three months ended September 30, 2022 and 2021 and are presented net of $2.2 billion and $1.8 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 $9.5 billion and $8.3 billion for the nine months ended September 30, 2022 and 2021 and are presented net of $6.4 billion and $4.9 billion of expenses for rewards and partner payments as well as certain other card costs for the same periods.