Net Revenue (Tables)

6 Months Ended

Jun. 30, 2020

Revenues [Abstract]

Disaggregation of Revenue [Table Text Block]

The following table presents the significant components of total net revenue (dollars in millions):

	Three Months Ended June 30,				Six Months Ended June 30,
	2020		2019		2020		2019
Net interest income	$	388	$	490	$	788	$	982
Commissions	89		121		160		243
Fees and service charges	205		126		408		244
Gains (losses) on securities and other, net	23		(64)		43		(53)
Other revenue	11		12		24		24
Total net revenue (1)	$	716	$	685	$	1,423	$	1,440

(1)Contract balances and transaction price allocated to remaining performance obligations were not material for the periods presented.

The following table presents the significant components of fees and service charges (dollars in millions): 

	Three Months Ended June 30,				Six Months Ended June 30,
	2020		2019		2020		2019
Fees and service charges:
Order flow revenue	$	120	$	45	$	205	$	88
Money market funds and sweep deposits revenue	22		23		82		44
Advisor management and custody fees	19		19		38		37
Mutual fund service fees	10		13		23		25
Foreign exchange revenue	9		8		18		16
Reorganization fees	12		7		16		13
Other fees and service charges	13		11		26		21
Total fees and service charges	$	205	$	126	$	408	$	244

Interest Income and Interest Expense Disclosure

The following table presents the significant components of interest income and interest expense (dollars in millions):

	Three Months Ended June 30,				Six Months Ended June 30,
	2020		2019		2020		2019
Interest income:
Cash and equivalents	$	—	$	3	$	2	$	6
Cash and investments segregated under federal or other regulations	3		6		11		12
Investment securities	272		368		557		733
Margin receivables	68		130		162		256
Loans	16		28		37		56
Broker-related receivables and other	—		3		4		7
Subtotal interest income	359		538		773		1,070
Other interest revenue(1)	50		22		79		45
Total interest income	409		560		852		1,115
Interest expense:
Sweep deposits:
Brokerage sweep deposits	2		18		7		38
Bank sweep deposits(2)	—		—		13		—
Savings deposits	—		23		3		38
Customer payables	1		8		5		17
Broker-related payables and other	—		1		—		2
Other borrowings	1		4		2		6
Corporate debt	13		14		27		28
Subtotal interest expense	17		68		57		129
Other interest expense(3)	4		2		7		4
Total interest expense	21		70		64		133
Net interest income	$	388	$	490	$	788	$	982

(1)Other interest revenue is earned on certain securities loaned balances. Interest expense incurred on other securities loaned balances is presented on the broker-related payables and other line item above.

(2)Beginning in Q4 2019, bank sweep deposits include Premium Savings Accounts participating in the newly established bank sweep deposit account program. Refer to Note 9—Deposits for additional information.

(3)Other interest expense is incurred on certain securities borrowed balances. Interest income earned on other securities borrowed balances is presented on the broker-related receivables and other line item above.