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Noninterest Revenue and Noninterest Expense (Tables)
 12 Months Ended
Dec. 31, 2023
Noninterest Income (Expense) [Abstract]  
Components of investment banking fees
The following table presents the components of investment banking fees.
Year ended December 31,
(in millions)		202320222021
Underwriting
Equity$1,149 $975 $3,969 
Debt2,610 2,732 4,853 
Total underwriting3,759 3,707 8,822 
Advisory2,760 2,979 4,394 
Total investment banking fees$6,519 $6,686 $13,216 
Principal transactions revenue
The following table presents all realized and unrealized gains and losses recorded in principal transactions revenue. This table excludes interest income and interest expense on trading assets and liabilities, which are an integral part of the overall performance of the Firm’s client-driven market-making activities in CIB and fund deployment activities in Treasury and CIO. Refer to Note 7 for further information on interest income and interest expense.
Trading revenue is presented primarily by instrument type. The Firm’s client-driven market-making businesses generally utilize a variety of instrument types in connection with their market-making and related risk-management activities; accordingly, the trading revenue presented in the table below is not representative of the total revenue of any individual LOB.
Year ended December 31,
(in millions)		202320222021
Trading revenue by
instrument type
Interest rate(a)
$5,607 $3,010 $1,646 
Credit(b)
1,434 1,412 
(c)
2,691 
Foreign exchange5,082 5,119 2,787 
Equity10,229 8,068 7,773 
Commodity2,202 2,348 1,428 
Total trading revenue24,554 19,957 16,325 
Private equity losses
(94)(45)(21)
Principal transactions$24,460 $19,912 $16,304 
(a)Includes the impact of changes in funding valuation adjustments on derivatives.
(b)Includes the impact of changes in credit valuation adjustments on derivatives, net of the associated hedging activities.
(c)Includes net markdowns on held-for-sale positions, primarily unfunded commitments, in the bridge financing portfolio.
Components of lending and deposit-related fees
The following table presents the components of lending- and deposit-related fees.
Year ended December 31,
(in millions)		202320222021
Lending-related fees$2,365 
(a)
$1,468 $1,472 
Deposit-related fees5,048 5,630 5,560 
Total lending- and deposit-related fees
$7,413 $7,098 $7,032 
(a)    Includes the amortization of the purchase discount on certain acquired lending-related commitments associated with First Republic, predominantly in AWM and CB. The discount is deferred in other liabilities and recognized on a straight-line basis over the commitment period and was largely recognized in the current year as the commitments are generally short term. Refer to Note 34 for additional information.
Components of asset management fees
The following table presents the components of asset management fees.
Year ended December 31,
(in millions)		202320222021
Asset management fees
Investment management fees
$14,908 
(a)
$13,765 $14,027 
All other asset management fees
312 331 378 
Total asset management fees$15,220 $14,096 $14,405 
(a)Includes the impact of First Republic. Refer to Note 34 for additional information.
Components of commissions and other fees
The following table presents the components of commissions and other fees.
Year ended December 31,
(in millions)		202320222021
Commissions and other fees
Brokerage commissions
$2,820 $2,831 $3,046 
Administration fees
2,310 2,348 2,554 
All other commissions and fees(a)
1,706 1,402 1,024 
Total commissions and other fees$6,836 $6,581 $6,624 
(a)Includes travel-related and annuity sales commissions, depositary receipt-related service fees, as well as other service fees, which are recognized as revenue when the services are rendered.
Components of card income
The following table presents the components of card income:
Year ended December 31,
(in millions)		202320222021
Interchange and merchant processing income
$31,021 $28,085 $23,592 
Reward costs and partner payments(24,601)(22,162)(17,868)
All other(a)
(1,636)(1,503)(622)
Total card income$4,784 $4,420 $5,102 
(a)Predominantly represents the amortization of account origination costs and annual fees, which are deferred and recognized on a straight-line basis over a 12-month period.
Components of other income
The following table presents certain components of other income:
Year ended December 31,
(in millions)		202320222021
Operating lease income$2,843 $3,654 $4,914 
Losses on tax-oriented investments
(1,538)(1,491)(1,570)
Estimated bargain purchase gain associated with the First Republic acquisition2,775 
(a)
— — 
Gain related to the acquisition of CIFM339 
(b)
— — 
Gain on sale of Visa B shares— 914 — 
(a) Refer to Note 34 for additional information on the First Republic acquisition.
(b)    Gain on the original minority interest in CIFM upon the Firm's acquisition of the remaining 51% of the entity.
Components of noninterest expense
Other expense on the Firm’s Consolidated statements of income included:
Year ended December 31,
(in millions)		202320222021
Legal expense$1,436 $266 $426 
FDIC-related expense4,203 
(a)
860 730 
First Republic-related expense1,060 
(b)
— 
(a) Included the $2.9 billion FDIC special assessment.
(b) Included payments to the FDIC in the second quarter of 2023 with respect to First Republic individuals who were not employees of the Firm until July 2, 2023, as well as $360 million restructuring and integration costs. Refer to Note 34 for additional information on the First Republic acquisition.