Net Interest Income

3 Months Ended

Mar. 31, 2023

Banking and Thrift, Interest [Abstract]

Net Interest Income

Net Interest Income

The components of Net Interest Income were as follows.

TABLE 64: NET INTEREST INCOME

	THREE MONTHS ENDED MARCH 31,
(In Millions)	2023		2022
Interest Income
Federal Reserve and Other Central Bank Deposits	$	377.0	$	17.6
Interest-Bearing Due from and Deposits with Banks(1)	28.2		2.6
Federal Funds Sold	0.2		—
Securities Purchased under Agreements to Resell	125.9		0.9
Securities — Taxable	337.8		169.0
— Nontaxable(2)	0.3		0.4
Loans and Leases	578.2		191.2
Other Interest-Earning Assets(3)	7.8		1.8
Total Interest Income	$	1,455.4	$	383.5
Interest Expense
Deposits	$	564.6	$	(15.9)
Federal Funds Purchased	40.1		—
Securities Sold Under Agreements to Repurchase	116.1		0.3
Other Borrowings	135.0		3.1
Senior Notes	39.2		9.6
Long-Term Debt	29.2		5.4
Total Interest Expense	$	924.2	$	2.5
Net Interest Income	$	531.2	$	381.0

(1)    Interest-Bearing Due from and Deposits with Banks includes the interest-bearing component of Cash and Due from Banks and Interest-Bearing Deposits with Banks as presented on the consolidated balance sheets.

(2) Non-taxable Securities represent securities that are exempt from U.S. federal income taxes.

(3) Other Interest-Earning Assets include certain community development investments, collateral deposits with certain securities depositories and clearing houses, Federal Home Loan Bank and Federal Reserve stock, and money market investments which are classified in Other Assets on the consolidated balance sheets.