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Net interest revenue (Details) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2020
Dec. 31, 2019
Mar. 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 [2] 169 [1] (8) 7 [1]
Net interest revenue after provision for credit losses $ 645 $ 823 $ 834
[1]
In the first quarter of 2020, we adopted new accounting guidance included in ASU 2016-13, Financial Instruments - Credit Losses: Measurement of Credit Losses On Financial Instruments, on a prospective basis. See Note 2 of the Notes to Consolidated Financial Statements for additional information.
[2] The provision for credit losses for the quarter ended March 31, 2020 relates to the financial instruments within the scope of Accounting Standards Update (“ASU”) 2016-13, Financial Instruments - Credit Losses: Measurement of Credit Losses On Financial Instruments. See Note 2 of the Notes to Consolidated Financial Statements for additional information.