Net interest revenue

3 Months Ended

Mar. 31, 2020

Interest Revenue (Expense), Net [Abstract]

Net interest revenue

Net interest revenue

The following table provides the components of net interest revenue presented on the consolidated income statement.

Net interest revenue	Quarter ended
(in millions)	March 31, 2020		Dec. 31, 2019			March 31, 2019
Interest revenue
Deposits with the Federal Reserve and other central banks	$	80	$	94		$	139
Deposits with banks	58		65			63
Federal funds sold and securities purchased under resale agreements	396		452			474
Margin loans	87		96			135
Non-margin loans	309		328			355
Securities:
Taxable	594		639			706
Exempt from federal income taxes	6		7			12
Total securities	600		646			718
Trading securities	40		40			36
Total interest revenue	1,570		1,721			1,920
Interest expense
Deposits	240		334			391
Federal funds purchased and securities sold under repurchase agreements	275		291			331
Trading liabilities	7		9			7
Other borrowed funds	4		5			24
Commercial paper	6		7			8
Customer payables	30		40			70
Long-term debt	194		220			248
Total interest expense	756		906			1,079
Net interest revenue	814		815			841
Provision for credit losses	169		(8		)	7
Net interest revenue after provision for credit losses	$	645	$	823		$	834