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Noninterest Income
 9 Months Ended
Sep. 30, 2022
Other Income and Expenses [Abstract]  
Noninterest Income Noninterest IncomeAll of the Company's revenue from contracts with customers within the scope of ASC 606, Revenue from Contracts with Customers, is recognized within noninterest income. Included below is a summary of noninterest income for the three and nine months ended September 30, 2022 and 2021:
 Three months ended September 30, Nine months ended September 30,
(Dollars in millions)2022202120222021
Noninterest income:
Gains (losses) on investment securities, net$(127)$189 $(199)$661 
Gains on equity warrant assets, net40 147 120 491 
Client investment fees119 20 237 55 
Wealth management and trust fees
19 22 63 22 
Foreign exchange fees74 65 216 189 
Credit card fees37 34 114 93 
Deposit service charges32 29 94 82 
Lending related fees20 21 65 55 
Letters of credit and standby letters of credit fees15 13 43 39 
Investment banking revenue75 90 293 335 
Commissions24 17 73 58 
Other31 25 119 97 
Total noninterest income$359 $672 $1,238 $2,177 
Gains on investment securities, net
Net gains (losses) on investment securities include both gains and losses from our non-marketable and other equity securities, which include public equity securities held as a result of exercised equity warrant assets, gains and losses from sales of our AFS debt securities portfolio, when applicable, and carried interest.
Our non-marketable and other equity securities portfolio primarily represents investments in venture capital and private equity funds, SPD-SVB, debt and credit funds, private and public portfolio companies, which include public equity securities held as a result of exercised equity warrant assets, and qualified affordable housing projects. We experience variability in the performance of our non-marketable and other equity securities from period to period, which results in net gains or losses on investment securities (both realized and unrealized). This variability is due to a number of factors, including unrealized changes in the values of our investments, changes in the amount of realized gains from distributions, changes in liquidity events and general economic and market conditions. Unrealized gains and losses from non-marketable and other equity securities for any single period are typically driven by valuation changes.
The extent to which any unrealized gains or losses will become realized is subject to a variety of factors, including, among other things, the expiration of certain sales restrictions to which these equity securities may be subject to (e.g., lock-up agreements), changes in prevailing market prices, market conditions, the actual sales or distributions of securities, and the timing of such actual sales or distributions, which, to the extent such securities are managed by our managed funds, are subject to our funds' separate discretionary sales/distributions and governance processes.
Carried interest is comprised of preferential allocations of profits recognizable when the return on assets of our individual managed fund of funds and direct venture funds exceeds certain performance targets and is payable to us, as the general partners of the managed funds. The carried interest we earn is often shared with employees, who are also members of the general partner entities. We record carried interest on a quarterly basis by measuring fund performance to date versus the performance target. For our unconsolidated managed funds, carried interest is recorded as gains on investment securities, net. For our consolidated managed funds, it is recorded as a component of net income attributable to noncontrolling interests. Carried interest allocated to others is recorded as a component of net income attributable to noncontrolling interests. Any carried interest paid to us (or our employees) may be subject to reversal to the extent fund performance declines to a level where inception to date carried interest is lower than actual payments made by the funds. The limited partnership agreements for our funds provide that carried interest is generally not paid to the general partners until the funds have provided a full return of contributed capital to the limited partners. Accrued, but unpaid carried interest may be subject to reversal to the extent that the fund performance declines to a level where inception-to-date carried interest is less than prior amounts recognized. Carried interest income is accounted for under an ownership model based on ASC 323, Equity Method of Accounting and ASC 810, Consolidation.
Our AFS securities portfolio is a fixed income investment portfolio that is managed with the objective of earning an appropriate portfolio yield over the long-term while maintaining sufficient liquidity and credit diversification as well as addressing our asset/liability management objectives. Though infrequent, sales of debt securities in our AFS securities portfolio may result in net gains or losses and are conducted pursuant to the guidelines of our investment policy related to the management of our liquidity position and interest rate risk.
Gains and losses on investment securities are recognized outside of the scope of ASC 606, as it explicitly excludes noninterest income earned from our investment-related activities. A summary of gains and losses on investment securities for the three and nine months ended September 30, 2022 and 2021 is as follows:
Three months ended September 30, Nine months ended September 30,
(Dollars in millions)2022202120222021
Gains (losses) on non-marketable and other equity securities, net$(127)$189 $(247)$661 
Gains (losses) on sales of AFS securities, net— — 48 — 
Total gains (losses) on investment securities, net$(127)$189 $(199)$661 
Gains on equity warrant assets, net
In connection with negotiating credit facilities and certain other services, we often obtain rights to acquire stock in the form of equity warrant assets in primarily private, venture-backed companies in the technology and life science/healthcare industries. Any changes in fair value from the grant date fair value of equity warrant assets will be recognized as increases or decreases to other assets on our balance sheet and as net gains or losses on equity warrant assets, in noninterest income, a component of consolidated net income.
Gains on equity warrant assets are recognized outside of the scope of ASC 606 as it explicitly excludes noninterest income earned from our derivative-related activities. A summary of net gains on equity warrant assets for the three and nine months ended September 30, 2022 and 2021 is as follows:
Three months ended September 30, Nine months ended September 30,
(Dollars in millions)2022202120222021
Equity warrant assets:
Gains on exercises, net$9 $91 $44 $381 
Terminations(1)(1)(3)(2)
Changes in fair value, net32 57 79 112 
Total net gains on equity warrant assets $40 $147 $120 $491 
Client investment fees
Client investment fees include fees earned from discretionary investment management services for managing clients’ portfolios based on their investment policies, strategies and objectives. Revenue is recognized on a monthly basis upon completion of our performance obligation, and consideration is typically received in the subsequent month. Included in our sweep money market fees are Rule 12(b)-1 fees, revenue sharing and customer transactional-based fees. Rule 12(b)-1 fees and revenue sharing are recognized as earned based on client funds that are invested in the period, typically monthly. Transactional based fees are earned and recognized on fixed income securities when the transaction is executed on the clients' behalf. Amounts paid to third-party service providers are predominantly expensed, such that client investment fees are recorded gross of payments made to third parties. A summary of client investment fees by instrument type for the three and nine months ended September 30, 2022 and 2021 is as follows:
 Three months ended September 30, Nine months ended September 30,
(Dollars in millions)2022202120222021
Client investment fees by type:
Sweep money market fees$64 $12 $144 $31 
Asset management fees (1)16 7 41 22 
Repurchase agreement fees39 1 52 2 
Total client investment fees (2)$119 $20 $237 $55 
(1)Represents fees earned from investments in third-party money market mutual funds and fixed-income securities managed by SVB Asset Management.
(2)Represents fees earned on client investment funds that are maintained at third-party financial institutions and are not recorded on our balance sheet.
Wealth management and trust fees
Wealth management fees are earned for providing wealth management, retirement plan advisory, family office, financial planning, trust services and other financial advisory services to clients. The Company’s performance obligation under these contracts is satisfied over time as the services are provided. Fees are recognized monthly based on the average monthly, beginning-of-quarter, or, for a small number of clients, end-of-quarter market value of the Private Bank AUM and the applicable fee rate, depending on the terms of the contracts. Fees are also recognized monthly based either on a fixed fee amount or are based on the quarter-end (in arrears) market value of the Private Bank AUM and the applicable fee rate,
depending on the terms of the contracts. No performance-based incentives are earned under wealth management contracts. Receivables are recorded on the Consolidated Balance Sheets in the "Accrued interest receivable and other assets" line item.
Trust fees are earned when the Company is appointed as trustee for clients. As trustee, the Company administers the client’s trust and manages the assets of the trust, including investments and property. The Company’s performance obligation under these agreements is satisfied over time as the administration and management services are provided. Fees are recognized monthly or, in certain circumstances, quarterly based on a percentage of the market value of the account as outlined in the agreement. Payment frequency is defined in the individual contracts, which primarily stipulate monthly in arrears. No performance-based incentives are earned on trust fee contracts. Receivables are recorded on the Consolidated Balance Sheets in the "Accrued interest receivable and other assets" line item. A summary of wealth management and trust fees by instrument type for the three and nine months ended September 30, 2022 and 2021 is as follows:
 Three months ended September 30, Nine months ended September 30,
(Dollars in millions)2022202120222021
Wealth management and trust fees by type:
Wealth management fees$17 $20 $58 $20 
Trust fees2 2 5 2 
Total wealth management and trust fees$19 $22 $63 $22 
Foreign exchange fees
Foreign exchange fees represent the income differential between purchases and sales of foreign currency on behalf of our clients, primarily from spot contracts. Foreign exchange spot contract fees recognized upon the completion of a single performance obligation are recognized within the scope of ASC 606.
Foreign exchange contracts and option premium fees are recognized outside of the scope of ASC 606 as it explicitly excludes noninterest income earned from our derivative-related activities. A summary of foreign exchange fee income by instrument type for the three and nine months ended September 30, 2022 and 2021 is as follows:
 Three months ended September 30, Nine months ended September 30,
(Dollars in millions)2022202120222021
Foreign exchange fees by instrument type:
Foreign exchange contract commissions$74 $65 $215 $188 
Option premium fees— — 1 1 
Total foreign exchange fees$74 $65 $216 $189 
Credit card fees
Credit card fees include interchange income from credit and debit cards and fees earned from processing transactions for merchants. Interchange income is earned after satisfying our performance obligation of providing nightly settlement services to a payment network. Costs related to rewards programs are recorded when the rewards are earned by the customer and presented as a reduction to interchange fee income. Rewards programs continue to be accounted for under ASC 310, Receivables. Our performance obligations for merchant service fees are to transmit data and funds between the merchant and the payment network. Credit card interchange and merchant service fees are earned daily upon completion of transaction settlement services.
Annual card service fees are recognized on a straight-line basis over a 12-month period and continue to be accounted for under ASC 310, Receivables.
A summary of credit card fees by instrument type for the three and nine months ended September 30, 2022 and 2021 is as follows:
 Three months ended September 30, Nine months ended September 30,
(Dollars in millions)2022202120222021
Credit card fees by instrument type:
Card interchange fees, net $29 $29 $91 $78 
Merchant service fees6 4 18 12 
Card service fees2 1 5 3 
Total credit card fees$37 $34 $114 $93 
Deposit service charges
Deposit service charges include fees earned from performing cash management activities and other deposit account services. Deposit services include, but are not limited to, the following: receivables services, which include merchant services, remote capture, lockbox, electronic deposit capture, and fraud control services. Payment and cash management products and services include wire transfer and automated clearing house payment services to enable clients to transfer funds more quickly, as well as business bill pay, business credit and debit cards, account analysis, and disbursement services. Deposit service charges are recognized over the period in which the related performance obligation is provided, generally on a monthly basis, and are presented in the "Disaggregation of revenue from contracts with customers" tables below.
Lending related fees
Unused commitment fees, minimum finance fees and unused line fees are recognized as earned on a monthly basis. Fees that qualify for syndication treatment are recognized at the completion of the syndicated loan deal for which the fees were received. Lending related fees are recognized outside of the scope of ASC 606 as it explicitly excludes noninterest income earned from our lending-related activities. A summary of lending related fees by instrument type for the three and nine months ended September 30, 2022 and 2021 is as follows:
 Three months ended September 30, Nine months ended September 30,
(Dollars in millions)2022202120222021
Lending related fees by instrument type:
Unused commitment fees$14 $14 $49 $42 
Other 6 7 16 13 
Total lending related fees$20 $21 $65 $55 
Letters of credit and standby letters of credit fees
Standby letters of credit represent conditional commitments issued by us on behalf of a client to guarantee the performance of the client to a third party when certain specified future events have occurred. Fees generated from letters of credit and standby letters of credit are deferred as a component of other liabilities and recognized in noninterest income over the commitment period using the straight-line method, based on the likelihood that the commitment being drawn down will be remote. Letters of credit and standby letters of credit fees are recognized outside of the scope of ASC 606 as it explicitly excludes noninterest income earned from our lending related activities.
Investment banking revenue
We earn investment banking revenue from clients for providing services related to securities underwriting, private placements and advisory services on strategic matters such as mergers and acquisitions. Underwriting fees are attributable to public and private offerings of equity and debt securities and are recognized at the point in time when the offering has been deemed to be completed by the lead manager of the underwriting group. Once the offering is completed, the performance obligation has been satisfied; we recognize the applicable management fee as well as the underwriting fee, net of consideration payable to customers. Private placement fees are recognized at the point in time when the private placement is completed, which is generally when the client accepts capital from the fund raise. Advisory fees from mergers and acquisitions engagements are generally recognized at the point in time when the related transaction is completed. Expenses are deferred only to the extent they are explicitly reimbursable by the client and the related revenue is recognized at a point in time. All other deal-related expenses are expensed as incurred. We have determined that we act as principal in the majority of these transactions and therefore present expenses gross within other operating expenses.
A summary of investment banking revenue by instrument type for the three and nine months ended September 30, 2022 and 2021 is as follows:
Three months ended September 30, Nine months ended September 30,
(Dollars in millions)2022202120222021
Investment banking revenue:
Underwriting fees$24 $39 $97 $248 
Advisory fees40 26 163 39 
Private placements and other 11 25 33 48 
Total investment banking revenue $75 $90 $293 $335 
Commissions
Commissions include commissions received from customers for the execution of agency-based brokerage transactions in listed and over-the-counter equities. The execution of each trade order represents a distinct performance obligation, and the transaction price is fixed at the point in time or trade order execution. Trade execution is satisfied at the point in time that the customer has control of the asset and as such, fees are recorded on a trade date basis. The Company also earns subscription fees for market intelligence services that are recognized over the period in which they are delivered. Fees received before the subscription period ends are initially recorded as deferred revenue (a contract liability) in other liabilities in our consolidated balance sheet. Commissions are presented in the "Disaggregation of revenue from contracts with customers" table below.
Other
Other noninterest income primarily includes income from fund management fees, gains from conversion of convertible debt options and service revenue. Fund management fees are comprised of fees charged directly to our managed funds of funds and direct venture funds. Fund management fees are based upon the contractual terms of the limited partnership agreements and are generally recognized as earned over the specified contract period, which is generally equal to the life of the individual fund. Fund management fees are calculated as a percentage of committed capital and collected quarterly in advance and recognized over the quarter. Fund management fees for certain of our limited partnership agreements are calculated as a percentage of distributions made by the funds, and revenue is recorded only at the time of a distribution event. As distribution events are not predetermined for these certain funds, management fees are considered variable and constrained under ASC 606.
Gains from conversion of convertible debt options represent unrealized valuation gains on loan conversion derivative assets, and realized gains from the conversion of debt instruments, convertible into a third party’s common stock upon a triggering event such as an IPO. Gains from conversion of convertible debt options are recognized outside of the scope of ASC 606 as it explicitly excludes noninterest income earned from our derivative-related activities.
Other service revenue primarily consists of gains or losses from changes in fair value of total return swaps, dividend income on FHLB/FRB stock, correspondent bank rebate income, incentive fees, or performance fees related to carried interest and other fee income. We recognize revenue when our performance obligations are met and record revenues on a daily/monthly, quarterly, semi-annual or annual basis. For event driven revenue sources, we recognize revenue when: (i) persuasive evidence of an arrangement exists, (ii) we have performed the service, provided we have no other remaining obligations to the customer, (iii) the fee is fixed or determinable and (iv) collectability is probable.
A summary of other noninterest income by instrument type for the three and nine months ended September 30, 2022 and 2021 is as follows:
 Three months ended September 30, Nine months ended September 30,
(Dollars in millions)2022202120222021
Other noninterest income by instrument type:
Fund management fees$16 $15 $43 $51 
Net gains on revaluation of foreign currency instruments, net of foreign exchange forward contracts (1)6 (4)7 1 
Gains on total return swaps(3)— 25 — 
Other service revenue12 14 44 45 
Total other noninterest income$31 $25 $119 $97 
(1)Represents the net revaluation of client and internal foreign currency denominated financial instruments. We enter into foreign exchange forward contracts to economically reduce our foreign exchange exposure related to client and internal foreign currency denominated financial instruments.
Disaggregation of revenue from contracts with customers
The following tables present our revenues from contracts with customers disaggregated by revenue source and segment for the three and nine months ended September 30, 2022 and 2021:
Three months ended September 30, 2022Silicon Valley Bank (3)SVB PrivateSVB Capital (3)SVB
Securities (3)		Other ItemsTotal
(Dollars in millions)
Revenue from contracts with customers:
Client investment fees$119 $— $— $— $— $119 
Wealth management and trust fees
— 19 — — — 19 
Card interchange fees, gross54 1 — — — 55 
Merchant service fees7 — — — — 7 
Deposit service charges32 — — — — 32 
Investment banking revenue— — — 75 — 75 
Commissions— — — 24 — 24 
Fund management fees1 — 13 2 — 16 
Other (1)1 — 2 — — 3 
Total revenue from contracts with customers$214 $20 $15 $101 $— $350 
Revenues outside the scope of ASC 606 (2)94 2 (69)(1)(17)9 
Total noninterest income$308 $22 $(54)$100 $(17)$359 
(1)Includes certain spot contract commissions, performance fees and correspondent bank rebates.
(2)Amounts are accounted for under separate guidance than ASC 606.
(3)Silicon Valley Bank’s, SVB Capital’s and SVB Securities' components of noninterest income are shown net of noncontrolling interests. Noncontrolling interest is included within “Other Items."

Three months ended September 30, 2021Silicon Valley Bank (3)SVB PrivateSVB Capital (3)SVB
Securities (3)		Other ItemsTotal
(Dollars in millions)
Revenue from contracts with customers:
Client investment fees$20 $— $— $— $— $20 
Wealth management and trust fees— 22 22 
Card interchange fees, gross52 — — — — 52 
Merchant service fees4 — — — — 4 
Deposit service charges28 — — — 1 29 
Investment banking revenue— — — 90 — 90 
Commissions— — — 17 — 17 
Fund management fees— — 14 1 — 15 
Other (1)61 1 4 — — 66 
Total revenue from contracts with customers165 23 18 108 1 315 
Revenues outside the scope of ASC 606 (2)17 2 127 23 188 357 
Total noninterest income$182 $25 $145 $131 $189 $672 
(1)Includes certain spot contract commissions, performance fees and correspondent bank rebates.
(2)Amounts are accounted for under separate guidance than ASC 606.
(3)Silicon Valley Bank’s, SVB Capital’s and SVB Securities' components of noninterest income are shown net of noncontrolling interests. Noncontrolling interest is included within “Other Items."
Nine months ended September 30, 2022Silicon Valley Bank (3)SVB PrivateSVB Capital (3)SVB
Securities (3)		Other ItemsTotal
(Dollars in millions)
Revenue from contracts with customers:
Client investment fees$236 $— $— $— $1 $237 
Wealth management and trust fees
— 63 — — — 63 
Card interchange fees, gross170 1 — — 2 173 
Merchant service fees18 — — — — 18 
Deposit service charges92 1 — — 1 94 
Investment banking revenue— — — 293 — 293 
Commissions— — — 73 — 73 
Fund management fees1 — 37 5 — 43 
Other (1)69 1 6 — — 76 
Total revenue from contracts with customers$586 $66 $43 $371 $4 $1,070 
Revenues outside the scope of ASC 606 (2)195 6 (121)(19)107 168 
Total noninterest income$781 $72 $(78)$352 $111 $1,238 
(1)Includes certain spot contract commissions, performance fees and correspondent bank rebates.
(2)Amounts are accounted for under separate guidance than ASC 606.
(3)Silicon Valley Bank’s, SVB Capital’s and SVB Securities' components of noninterest income are shown net of noncontrolling interests. Noncontrolling interest is included within “Other Items."


Nine months ended September 30, 2021Silicon Valley Bank (3)SVB PrivateSVB Capital (3)SVB
Securities (3)		Other ItemsTotal
(Dollars in millions)
Revenue from contracts with customers:
Client investment fees$53 $2 $— $— $— $55 
Wealth management and trust fees— 22 — — — 22 
Card interchange fees, gross140 1 — — 1 142 
Merchant service fees12 — — — — 12 
Deposit service charges80 — — — 2 82 
Investment banking revenue— — — 335 — 335 
Commissions— — — 58 — 58 
Fund management fees— — 47 4 — 51 
Other (1)178 1 12 — — 191 
Total revenue from contracts with customers$463 $26 $59 $397 $3 $948 
Revenues outside the scope of ASC 606 (2)51 2 330 53 793 1,229 
Total noninterest income$514 $28 $389 $450 $796 $2,177 
(1)Includes certain spot contract commissions, performance fees and correspondent bank rebates.
(2)Amounts are accounted for under separate guidance than ASC 606.
(3)Silicon Valley Bank’s, SVB Capital’s and SVB Securities' components of noninterest income are shown net of noncontrolling interests. Noncontrolling interest is included within “Other Items."

The timing of revenue recognition may differ from the timing of cash settlements or invoicing to customers. We record a receivable when revenue is recognized prior to invoicing, and unearned revenue when revenue is recognized subsequent to receipt of consideration. These assets and liabilities are reported on the consolidated balance sheets on a contract-by-contract basis at the end of each reporting period. During the three and nine months ended September 30, 2022 and 2021, changes in our contract assets, contract liabilities and receivables were not material. Additionally, revenues recognized during the three and nine months ended September 30, 2022 and 2021 that were included in the corresponding contract liability balance at the beginning of the periods were not material.