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Interest Income and Interest Expense
 6 Months Ended
Jun. 30, 2024
Interest Income (Expense), Operating [Abstract]  
Interest Income and Interest Expense Interest income and Interest expense
Refer to Note 7 of JPMorgan Chase’s 2023 Form 10-K for a description of JPMorgan Chase’s accounting policies regarding interest income and interest expense.
The following table presents the components of interest income and interest expense.
Three months ended June 30,Six months ended June 30,
(in millions)2024202320242023
Interest income
Loans(a)
$22,898 $20,306 $45,772 $38,014 
Taxable securities5,124 4,194 9,995 8,161 
Non-taxable securities(b)
302 343 625 591 
Total investment securities(a)
5,426 4,537 10,620 8,752 
Trading assets - debt instruments4,993 4,013 9,585 7,659 
Federal funds sold and securities purchased under resale agreements4,821 3,767 9,036 6,898 
Securities borrowed2,177 1,866 4,343 3,582 
Deposits with banks6,059 5,189 12,445 10,008 
All other interest-earning assets(c)
2,139 1,966 4,150 3,735 
Total interest income$48,513 $41,644 $95,951 $78,648 
Interest expense
Interest-bearing deposits$12,421 $9,591 $24,655 $17,228 
Federal funds purchased and securities loaned or sold under repurchase agreements5,108 3,400 9,077 6,204 
Short-term borrowings502 428 1,037 849 
Trading liabilities – debt and all other interest-bearing liabilities(d)
2,604 2,373 5,240 4,344 
Long-term debt4,780 3,876 9,398 7,189 
Beneficial interest issued by consolidated VIEs352 197 716 344 
Total interest expense$25,767 $19,865 $50,123 $36,158 
Net interest income$22,746 $21,779 $45,828 $42,490 
Provision for credit losses3,052 2,899 4,936 5,174 
Net interest income after provision for credit losses$19,694 $18,880 $40,892 $37,316 
(a)Includes the amortization and accretion of purchase premiums and discounts, as well as net deferred fees and costs on loans.
(b)Represents securities which are tax-exempt for U.S. federal income tax purposes.
(c)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.
(d)All other interest-bearing liabilities includes interest expense on brokerage-related customer payables.