Fee-Based Revenue from Contracts with Customers

6 Months Ended

Jun. 30, 2020

Revenue from Contract with Customer [Abstract]

Fee-Based Revenue from Contracts with Customers

FEE-BASED REVENUE FROM CONTRACTS WITH CUSTOMERS

As more fully described in Note 23 Fee-based Revenue from Contracts with Customers in our 2019 Form 10-K, a subset of our noninterest income relates to certain fee-based revenue within the scope of ASC Topic 606 - Revenue from Contracts with Customers (Topic 606).

Fee-based revenue within the scope of Topic 606 is recognized within three of our reportable business segments, Retail Banking, Corporate & Institutional Banking and Asset Management Group. Topic 606 also excludes interest income, income from lease contracts, fair value gains from financial instruments (including derivatives), income from mortgage servicing rights and guarantee products, letter of credit fees, non-refundable fees associated with acquiring or originating a loan and gains from the sale of financial assets.

Retail Banking

Table 82: Retail Banking Noninterest Income Disaggregation

	Three months ended June 30				Six months ended June 30
In millions	2020		2019		2020		2019
Product
Deposit account fees	$	73	$	154	$	231	$	302
Debit card fees	120		136		249		260
Brokerage fees	86		86		179		175
Merchant services	23		56		72		104
Net credit card fees (a)	39		51		80		99
Other	52		62		108		128
Total in-scope noninterest income by product	$	393	$	545	$	919	$	1,068
Reconciliation to total Retail Banking noninterest income
Total in-scope noninterest income	$	393	$	545	$	919	$	1,068
Total out-of-scope noninterest income (b)	192		112		454		184
Total Retail Banking noninterest income	$	585	$	657	$	1,373	$	1,252

(a) Net credit card fees consists of interchange fees of $102 million and $126 million and credit card reward costs of $63 million and $75 million for the three months ended June 30, 2020 and 2019, respectively. Net credit card fees consists of interchange fees of $220 million and $238 million and credit card reward costs of $140 million and $139 million for the six months ended June 30, 2020 and 2019, respectively.

(b)

Out-of-scope noninterest income includes revenue streams that fall under the scope of other accounting and disclosure requirements outside of Topic 606.

Corporate & Institutional Banking

Table 83: Corporate & Institutional Banking Noninterest Income Disaggregation

	Three months ended June 30				Six months ended June 30
In millions	2020		2019		2020		2019
Product
Treasury management fees	$	218	$	212	$	434	$	411
Capital markets fees	187		149		362		276
Commercial mortgage banking activities	24		24		50		49
Other	17		19		37		36
Total in-scope noninterest income by product	$	446	$	404	$	883	$	772
Reconciliation to total Corporate & Institutional Banking noninterest income
Total in-scope noninterest income	$	446	$	404	$	883	$	772
Total out-of-scope noninterest income (a)	280		257		537		465
Total Corporate & Institutional Banking noninterest income	$	726	$	661	$	1,420	$	1,237

(a)

Out-of-scope noninterest income includes revenue streams that fall under the scope of other accounting and disclosure requirements outside of Topic 606.

Asset Management Group

Table 84: Asset Management Group Noninterest Income Disaggregation

	Three months ended June 30				Six months ended June 30
In millions	2020		2019		2020		2019
Customer Type
Personal	$	151	$	157	$	301	$	304
Institutional	48		64		99		129
Total in-scope noninterest income by customer type	$	199	$	221	$	400	$	433
Reconciliation to Asset Management Group noninterest income
Total in-scope noninterest income	$	199	$	221	$	400	$	433
Total out-of-scope noninterest income (a)	5		65		8		70
Total Asset Management Group noninterest income	$	204	$	286	$	408	$	503

(a)

Out-of-scope noninterest income includes revenue streams that fall under the scope of other accounting and disclosure requirements outside of Topic 606.