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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Operating activities    
Net income $ 26,248 $ 7,552
Adjustments to reconcile net income to net cash used in operating activities:    
Provision for credit losses (6,441) 18,758
Depreciation and amortization 4,073 4,346
Deferred tax (benefit)/expense [1] 1,027 (4,657)
Other 1,788 1,197
Originations and purchases of loans held-for-sale (184,866) (76,335)
Proceeds from sales, securitizations and paydowns of loans held-for-sale 161,030 83,745
Net change in:    
Trading assets (2,004) (133,131)
Securities borrowed (25,838) (2,777)
Accrued interest and accounts receivable (34,929) 374
Other assets [1] 2,709 (24,204)
Trading liabilities (3,521) 69,341
Accounts payable and other liabilities [1] 30,772 18,869
Other operating adjustments (390) (248)
Net cash (used in) operating activities (30,342) (37,170)
Net change in:    
Federal funds sold and securities purchased under resale agreements 35,283 (7,580)
Held-to-maturity securities:    
Proceeds from paydowns and maturities 26,224 5,632
Purchases (63,072) (5,014)
Available-for-sale securities:    
Proceeds from paydowns and maturities 28,727 27,070
Proceeds from sales 125,192 65,975
Purchases (109,944) (242,608)
Proceeds from sales and securitizations of loans held-for-investment 16,165 12,185
Other changes in loans, net (21,980) (33,234)
Net purchases of assets pursuant to nonrecourse advances provided by the FRBB under the MMLF 0 (3,787)
All other investing activities, net (3,506) (2,118)
Net cash provided by/(used in) investing activities 33,089 (183,479)
Net change in:    
Deposits 138,578 382,784
Federal funds purchased and securities loaned or sold under repurchase agreements 30,260 51,894
Short-term borrowings 5,862 7,992
Beneficial interests issued by consolidated VIEs (674) 3,619
Proceeds from long-term borrowings 55,767 57,744
Payments of long-term borrowings (33,464) (42,944)
Proceeds from issuance of preferred stock 5,350 4,500
Redemption of preferred stock (2,575) (1,430)
Treasury stock repurchased (11,000) (6,517)
Dividends paid (6,314) (6,342)
All other financing activities, net (822) 136
Net cash provided by financing activities 180,968 451,436
Effect of exchange rate changes on cash and due from banks and deposits with banks (5,903) (689)
Net increase in cash and due from banks and deposits with banks 177,812 230,098
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 705,421 493,729
Cash interest paid 2,461 9,239
Cash income taxes paid, net [1] $ 13,716 $ 4,142
[1] Prior-period amounts have been revised to conform with the current presentation. Refer to Note 1 for further information on the revisions to the operating activities.