Interest Income and Interest Expense

3 Months Ended

Mar. 31, 2016

Interest Income (Expense), Net [Abstract]

Interest Income and Interest Expense

Interest income and Interest expense

For a description ofJPMorgan Chase’s accounting policies regarding interest income and interest expense, see Note 8 of JPMorgan Chase’s 2015 Annual Report.

Details of interest income and interest expense were as follows.

	Three months ended March 31,
(in millions)	2016			2015
Interest income
Loans	$	8,854		$	7,947
Taxable securities	1,442			1,724
Nontaxable securities(a)	443			398
Total securities	1,885			2,122
Trading assets	1,698			1,734
Federal funds sold and securities purchased under resale agreements	554			396
Securities borrowed(b)	(92		)	(120		)
Deposits with banks	460			341
Other assets(c)	193			145
Total interest income	13,552			12,565
Interest expense
Interest-bearing deposits	320			364
Federal funds purchased and securities loaned or sold under repurchase agreements	260			142
Commercial paper	33			34
Trading liabilities – debt, short-term and other liabilities(d)	227			156
Long-term debt	1,219			1,094
Beneficial interests issued by consolidated VIEs	113			98
Total interest expense	2,172			1,888
Net interest income	11,380			10,677
Provision for credit losses	1,824			959
Net interest income after provision for credit losses	$	9,556		$	9,718

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

(b) Negative interest income for the three months ended March 31, 2016 and 2015, 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.