Interest Income and Interest Expense (Tables)

12 Months Ended

Dec. 31, 2010

Interest Income And Interest Expense (Tables) [Abstract]

Details of interest income and interest expense

Year ended December 31, (in millions)	2010		2009		2008
Interest income
Loans	$	40,388	$	38,704	$	38,347
Securities		9,540		12,377		6,344
Trading assets		11,007		12,098		17,236
Federal funds sold and securities purchased under resale agreements		1,786		1,750		5,983
Securities borrowed		175		4		2,297
Deposits with banks		345		938		1,916
Other assets(a)		541		479		895
Total interest income(b)		63,782		66,350		73,018
Interest expense
Interest-bearing deposits		3,424		4,826		14,546
Short-term and other liabilities(c)		2,708		3,845		10,933
Long-term debt		5,504		6,309		8,355
Beneficial interests issued by consolidated VIEs		1,145		218		405
Total interest expense(b)		12,781		15,198		34,239
Net interest income	$	51,001	$	51,152	$	38,779
Provision for credit losses		16,639		32,015		19,445
Provision for credit losses – accounting conformity(d)		—		—		1,534
Total provision for credit losses	$	16,639	$	32,015	$	20,979
Net interest income after provision for credit losses	$	34,362	$	19,137	$	17,800

(a)	Predominantly margin loans.
(b)	Effective January 1, 2010, the Firm adopted accounting guidance related to VIEs. Upon the adoption of the guidance, the Firm consolidated its Firm-sponsored credit card securitization trusts, its Firm-administered multi-seller conduits and certain other consumer loan securitization entities, primarily mortgage-related. The consolidation of these VIEs did not significantly change the Firm’s total net income. However, it did affect the classification of items on the Firm’s Consolidated Statements of Income; as a result of the adoption of the guidance, certain noninterest revenue was eliminated in consolidation, offset by the recognition of interest income, interest expense, and provision for credit losses.
(c)	Includes brokerage customer payables.
(d)	2008 includes an accounting conformity loan loss reserve provision related to the acquisition of Washington Mutual’s banking operations.