Interest income and interest expense (Tables)

9 Months Ended

Sep. 30, 2015

Interest Income (Expense), Net [Abstract]

Details of interest income and interest expense

Details of interest income and interest expense were as follows.

	Three months ended September 30,						Nine months ended September 30,
(in millions)	2015			2014			2015			2014
Interest income
Loans	$	8,433		$	8,060		$	24,459		$	24,138
Taxable securities	1,553			1,903			4,885			5,743
Nontaxable securities(a)	439			387			1,260			1,041
Total securities	1,992			2,290			6,145			6,784
Trading assets	1,538			1,855			5,008			5,453
Federal funds sold and securities purchased under resale agreements	431			400			1,167			1,234
Securities borrowed(b)	(118		)	(150		)	(397		)	(369		)
Deposits with banks	291			300			944			835
Other assets(c)	172			171			492			505
Total interest income	12,739			12,926			37,818			38,580
Interest expense
Interest-bearing deposits	293			399			965			1,242
Short-term and other liabilities(d)	315			238			991			1,121
Long-term debt	1,092			1,084			3,254			3,337
Beneficial interests issued by consolidated VIEs	115			98			323			308
Total interest expense	1,815			1,819			5,533			6,008
Net interest income	10,924			11,107			32,285			32,572
Provision for credit losses	682			757			2,576			2,299
Net interest income after provision for credit losses	$	10,242		$	10,350		$	29,709		$	30,273

(a) Represents securities which are tax-exempt for U.S. federal income tax purposes.

(b) Negative interest income for the three and nine months ended September 30, 2015 and 2014, is a result of increased client-driven demand for certain securities combined with the impact of low interest rates. This is matched book activity and the negative interest expense on the corresponding securities loaned is recognized in interest expense and reported within short-term and other liabilities.

(c) Largely margin loans.

(d) Includes brokerage customer payables.