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Interest Income and Interest Expense
 12 Months Ended
Dec. 31, 2022
Interest Income (Expense), Net [Abstract]  
Interest Income and Interest Expense Interest income and Interest expense
Interest income and interest expense are recorded in the Consolidated statements of income and classified based on the nature of the underlying asset or liability.
The following table presents the components of interest income and interest expense:
Year ended December 31,
(in millions)		202220212020
Interest income
Loans(a)
$52,736 $41,537 $43,758 
 Taxable securities10,372 6,460 7,843 
 Non-taxable securities(b)
975 1,063 1,184 
Total investment securities(a)
11,347 7,523 9,027 
Trading assets - debt instruments9,053 6,825 7,832 
Federal funds sold and securities purchased under resale agreements
4,632 958 2,436 
Securities borrowed(c)
2,237 (385)(302)
Deposits with banks9,039 512 749 
All other interest-earning assets(d)
3,763 894 1,023 
Total interest income$92,807 $57,864 $64,523 
Interest expense
Interest bearing deposits$10,082 $531 $2,357 
Federal funds purchased and securities loaned or sold under repurchase agreements
3,721 274 1,058 
Short-term borrowings(e)
747 126 372 
Trading liabilities - debt and all other interest-bearing liabilities(f)
3,246 257 195 
Long-term debt8,075 4,282 5,764 
Beneficial interest issued by consolidated VIEs
226 83 214 
Total interest expense$26,097 $5,553 $9,960 
Net interest income$66,710 $52,311 $54,563 
Provision for credit losses6,389 (9,256)17,480 
Net interest income after provision for credit losses
$60,321 $61,567 $37,083 
(a)Includes the amortization/accretion of unearned income (e.g., purchase premiums/discounts and net deferred fees/costs).
(b)Represents securities that are tax-exempt for U.S. federal income tax purposes.
(c)Negative interest and rates reflect the net impact of interest earned offset by fees paid on client-driven prime brokerage securities borrowed transactions.
(d)Includes interest earned on brokerage-related held-for-investment customer receivables, which are classified in accrued interest and accounts receivable, and all other interest-earning assets, which are classified in other assets on the Consolidated balance sheets.
(e)Includes commercial paper.
(f)All other interest-bearing liabilities includes interest expense on brokerage-related customer payables.
Interest income and interest expense includes the current-period interest accruals for financial instruments measured at fair value, except for derivatives and financial instruments containing embedded derivatives that would be separately accounted for in accordance with U.S. GAAP, absent the fair value option election; for those instruments, all changes in fair value including any interest elements, are primarily reported in principal transactions revenue. For financial instruments that are not measured at fair value, the related interest is included within interest income or interest expense, as applicable. Refer to Notes 12, 10, 11 and 20 for further information on accounting for interest income and interest expense related to loans, investment securities, securities financing activities (i.e., securities purchased or sold under resale or repurchase agreements; securities borrowed; and securities loaned) and long-term debt, respectively.