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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Operating activities    
Net income $ 14,300 $ 2,865
Adjustments to reconcile net income to net cash used in operating activities:    
Provision for credit losses (4,156) 8,285
Depreciation and amortization 2,070 2,197
Deferred tax (benefit)/expense [1] 998 (1,235)
Other 890 411
Originations and purchases of loans held-for-sale (85,457) (47,352)
Proceeds from sales, securitizations and paydowns of loans held-for-sale 75,547 52,345
Net change in:    
Trading assets (34,262) (167,827)
Securities borrowed (18,951) 145
Accrued interest and accounts receivable (24,323) (49,323)
Other assets [1] 7,131 (61,897)
Trading liabilities (7) 97,078
Accounts payable and other liabilities [1] 23,559 45,020
Other operating adjustments (1,211) (801)
Net cash (used in) operating activities (43,872) (120,089)
Net change in:    
Federal funds sold and securities purchased under resale agreements 23,791 1,120
Held-to-maturity securities:    
Proceeds from paydowns and maturities 14,700 2,599
Purchases (31,348) (205)
Available-for-sale securities:    
Proceeds from paydowns and maturities 14,096 12,420
Proceeds from sales 80,823 50,990
Purchases (95,958) (131,605)
Proceeds from sales and securitizations of loans held-for-investment 6,619 7,564
Other changes in loans, net 3,321 (65,608)
Net purchases of assets pursuant to nonrecourse advances provided by the FRBB under the MMLF 0 (11,985)
All other investing activities, net (653) (1,123)
Net cash provided by/(used in) investing activities 15,391 (135,833)
Net change in:    
Deposits 120,501 297,976
Federal funds purchased and securities loaned or sold under repurchase agreements 88,844 49,273
Short-term borrowings 9,387 12,455
Beneficial interests issued by consolidated VIEs (1,439) 1,613
Proceeds from long-term borrowings 24,162 34,851
Payments of long-term borrowings (14,983) (29,057)
Proceeds from issuance of preferred stock 1,500 4,500
Redemption of preferred stock 0 (1,430)
Treasury stock repurchased (4,806) (6,517)
Dividends paid (3,193) (3,188)
All other financing activities, net (1,062) 1,829
Net cash provided by financing activities 218,911 362,305
Effect of exchange rate changes on cash and due from banks and deposits with banks (6,967) (2,480)
Net increase in cash and due from banks and deposits with banks 183,463 103,903
Cash and due from banks and deposits with banks at the beginning of the period 527,609 263,631
Cash and due from banks and deposits with banks at the end of the period 711,072 367,534
Cash interest paid 1,127 4,374
Cash income taxes paid, net $ 640 $ 763
[1] Prior-period amounts have been revised to conform with the current presentation. Refer to Note 1 for further information.