Interest Income and Interest Expense (Tables)

6 Months Ended

Jun. 30, 2013

Interest Income (Expense), Net (Tables) [Abstract]

Details of interest income and interest expense

Details of interest income and interest expense were as follows.

	Three months ended June 30,								Six months ended June 30,
(in millions)	2013				2012				2013				2012
Interest income
Loans	$	8,341			$	8,902			$	16,854			$	18,004
Securities	1,778				2,101				3,668				4,396
Trading assets	2,197				2,265				4,470				4,659
Federal funds sold and securities purchased under resale agreements	490				646				1,004				1,297
Securities borrowed	(30		)	(c)	(12		)	(c)	(36		)	(c)	25
Deposits with banks	222				136				385				288
Other assets(a)	147				61				227				131
Total interest income	$	13,145			$	14,099			$	26,572			$	28,800
Interest expense
Interest-bearing deposits	$	539			$	737			$	1,084			$	1,459
Short-term and other liabilities(b)	515				513				1,035				922
Long-term debt	1,261				1,538				2,556				3,260
Beneficial interests issued by consolidated VIEs	126				165				260				347
Total interest expense	$	2,441			$	2,953			$	4,935			$	5,988
Net interest income	$	10,704			$	11,146			$	21,637			$	22,812
Provision for credit losses	47				214				664				940
Net interest income after provision for credit losses	$	10,657			$	10,932			$	20,973			$	21,872

(a) Largely margin loans.

(b) Includes brokerage customer payables.

(c) Negative interest income is a result of increased client-driven demand for certain securities combined with the impact of low interest rates; the offset of this matched book activity is reflected as lower net interest expense reported within short-term and other liabilities.