Net Interest Income and Noninterest Income (Tables)

9 Months Ended

Sep. 30, 2023

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, 2023 and 2022. For more information, see Note 1 – Summary of Significant Accounting Principles to the Consolidated Financial Statements of the Corporation’s 2022 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)			2023		2022		2023		2022
Net interest income
Interest income
Loans and leases			$	14,830	$	10,231	$	41,897	$	25,805
Debt securities			4,658		4,239		14,809		12,111
Federal funds sold and securities borrowed or purchased under agreements to resell			4,888		1,446		13,555		1,835
Trading account assets			2,217		1,449		6,321		3,753
Other interest income			7,031		2,256		18,051		3,986
Total interest income			33,624		19,621		94,633		47,490

Interest expense
Deposits			7,340		1,235		17,439		1,719
Short-term borrowings			7,629		2,264		22,164		2,705
Trading account liabilities			510		383		1,486		1,117
Long-term debt			3,766		1,974		10,559		4,168
Total interest expense			19,245		5,856		51,648		9,709
Net interest income			$	14,379	$	13,765	$	42,985	$	37,781

Noninterest income
Fees and commissions
Card income
Interchange fees (1)			$	994	$	1,060	$	2,973	$	3,067
Other card income			526		513		1,562		1,464
Total card income			1,520		1,573		4,535		4,531
Service charges
Deposit-related fees			1,124		1,162		3,266		4,109
Lending-related fees			340		304		972		907
Total service charges			1,464		1,466		4,238		5,016
Investment and brokerage services
Asset management fees			3,103		2,920		8,990		9,308
Brokerage fees			860		875		2,664		2,870
Total investment and brokerage services			3,963		3,795		11,654		12,178
Investment banking fees
Underwriting income			531		452		1,757		1,559
Syndication fees			209		283		620		896
Financial advisory services			448		432		1,186		1,297
Total investment banking fees			1,188		1,167		3,563		3,752
Total fees and commissions			8,135		8,001		23,990		25,477
Market making and similar activities			3,325		3,068		11,734		9,023
Other income (loss)			(672)		(332)		(2,087)		(1,863)
Total noninterest income			$	10,788	$	10,737	$	33,637	$	32,637

(1)Gross interchange fees and merchant income are $3.4 billion and $3.3 billion for the three months ended September 30, 2023 and 2022 and are presented net of $2.4 billion and $2.2 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 $9.9 billion and $9.5 billion for the nine months ended September 30, 2023 and 2022 and are presented net of $7.0 billion and $6.4 billion of expenses for rewards and partner payments as well as certain other card costs for the same periods.