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Interest Income and Interest Expense
 9 Months Ended
Sep. 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 September 30,Nine months ended September 30,
(in millions)2024202320242023
Interest income
Loans(a)
$23,509 $22,311 $69,281 $60,325 
Taxable securities5,849 4,513 15,844 12,674 
Non-taxable securities(b)
298 360 923 951 
Total investment securities(a)
6,147 4,873 16,767 13,625 
Trading assets - debt instruments5,613 4,164 15,198 11,823 
Federal funds sold and securities purchased under resale agreements5,226 3,951 14,262 10,849 
Securities borrowed2,478 2,085 6,821 5,667 
Deposits with banks5,366 5,270 17,811 15,278 
All other interest-earning assets(c)
2,077 1,902 6,227 5,637 
Total interest income$50,416 $44,556 $146,367 $123,204 
Interest expense
Interest-bearing deposits$12,914 $10,796 $37,569 $28,024 
Federal funds purchased and securities loaned or sold under repurchase agreements5,733 3,523 14,810 9,727 
Short-term borrowings542 512 1,579 1,361 
Trading liabilities – debt and all other interest-bearing liabilities(d)
2,632 2,463 7,872 6,807 
Long-term debt4,838 4,239 14,236 11,428 
Beneficial interest issued by consolidated VIEs352 297 1,068 641 
Total interest expense$27,011 $21,830 $77,134 $57,988 
Net interest income$23,405 $22,726 $69,233 $65,216 
Provision for credit losses3,111 1,384 8,047 6,558 
Net interest income after provision for credit losses$20,294 $21,342 $61,186 $58,658 
(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.