Interest Income and Interest Expense (Tables)

9 Months Ended

Sep. 30, 2025

Interest Income (Expense), Operating [Abstract]

Details of 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)	2025		2024		2025		2024
Interest income
Loans(a)	$	24,025	$	23,509	$	69,494	$	69,281
Taxable securities	7,135		5,849		19,806		15,844
Non-taxable securities(b)	294		298		837		923
Total investment securities(a)	7,429		6,147		20,643		16,767
Trading assets - debt instruments	6,284		5,613		18,139		15,198
Federal funds sold and securities purchased under resale agreements	4,531		5,226		13,325		14,262
Securities borrowed	2,163		2,478		6,681		6,821
Deposits with banks	2,946		5,366		10,480		17,811
All other interest-earning assets(c)	2,061		2,077		5,771		6,227
Total interest income	$	49,439	$	50,416	$	144,533	$	146,367
Interest expense
Interest-bearing deposits	$	11,633	$	12,914	$	34,111	$	37,569
Federal funds purchased and securities loaned or sold under repurchase agreements	6,043		5,733		17,197		14,810
Short-term borrowings	590		542		1,732		1,579
Trading liabilities – debt and all other interest-bearing liabilities(d)	2,316		2,632		6,685		7,872
Long-term debt	4,558		4,838		13,434		14,236
Beneficial interest issued by consolidated VIEs	333		352		926		1,068
Total interest expense	$	25,473	$	27,011	$	74,085	$	77,134
Net interest income	$	23,966	$	23,405	$	70,448	$	69,233
Provision for credit losses	3,403		3,111		9,557		8,047
Net interest income after provision for credit losses	$	20,563	$	20,294	$	60,891	$	61,186

(a)Includes the amortization and accretion of purchase premiums and discounts, as well as net deferred fees and costs on loans.

(b)Represents securities that 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.