Noninterest Income (Tables)

9 Months Ended

Sep. 30, 2021

Other Income and Expenses [Abstract]

Summary of Noninterest Income

Included below is a summary of noninterest income for the three and nine months ended September 30, 2021 and 2020:

	Three months ended September 30,				Nine months ended September 30,
(Dollars in millions)	2021		2020		2021		2020
Noninterest income:
Gains on investment securities, net	$	189	$	190	$	661	$	271
Gains on equity warrant assets, net	147		54		491		94
Client investment fees	20		32		55		107
Wealth management and trust fees	22		—		22		—
Foreign exchange fees	65		44		189		128
Credit card fees	34		23		93		72
Deposit service charges	29		22		82		67
Lending related fees	21		13		55		38
Letters of credit and standby letters of credit fees	13		12		39		35
Investment banking revenue	90		92		335		281
Commissions	17		16		58		49
Other	25		49		97		76
Total noninterest income	$	672	$	547	$	2,177	$	1,218

Components of Gains and Losses (Realized and Unrealized) on Investment Securities

A summary of gains and losses on investment securities for the three and nine months ended September 30, 2021 and 2020 is as follows:

	Three months ended September 30,				Nine months ended September 30,
(Dollars in millions)	2021		2020		2021		2020
Gains on non-marketable and other equity securities, net	$	189	$	190	$	661	$	210
Gains on sales of AFS securities, net	—		—		—		61
Total gains on investment securities, net	$	189	$	190	$	661	$	271

Components of Gains on Equity Warrant Assets

A summary of net gains on equity warrant assets for the three and nine months ended September 30, 2021 and 2020 is as follows:

	Three months ended September 30,				Nine months ended September 30,
(Dollars in millions)	2021		2020		2021		2020
Equity warrant assets:
Gains on exercises, net	$	91	$	24	$	381	$	59
Terminations	(1)		—		(2)		(1)
Changes in fair value, net	57		30		112		36
Total net gains on equity warrant assets	$	147	$	54	$	491	$	94

Components of Client Investment Fees

A summary of client investment fees by instrument type for the three and nine months ended September 30, 2021 and 2020 is as follows:

	Three months ended September 30,				Nine months ended September 30,
(Dollars in millions)	2021		2020		2021		2020
Client investment fees by type:
Sweep money market fees	$	12	$	18	$	31	$	61
Asset management fees (1)	7		12		22		33
Repurchase agreement fees	1		2		2		13
Total client investment fees (2)	$	20	$	32	$	55	$	107

(1)Represents fees earned from investments in third-party money market mutual funds and fixed-income securities managed by SVB Asset Management.

(2)Represents fees earned on client investment funds that are maintained at third-party financial institutions and are not recorded on our balance sheet.

Components of Wealth Management and Trust Fees

A summary of wealth management and trust fees by instrument type for the three and nine months ended September 30, 2021 and 2020 is as follows:

	Three months ended September 30,				Nine months ended September 30,
(Dollars in millions)	2021		2020		2021		2020
Wealth management and trust fees by type:
Wealth management fees	$	20	$	—	$	20	$	—
Trust fees	2		—		2		—
Total wealth management and trust fees	$	22	$	—	$	22	$	—

Components of Foreign Exchange Fees

A summary of foreign exchange fee income by instrument type for the three and nine months ended September 30, 2021 and 2020 is as follows:

	Three months ended September 30,				Nine months ended September 30,
(Dollars in millions)	2021		2020		2021		2020
Foreign exchange fees by instrument type:
Spot contract commissions	$	60	$	39	$	175	$	113
Forward contract commissions	5		5		13		14
Option premium fees	—		—		1		1
Total foreign exchange fees	$	65	$	44	$	189	$	128

Components of Credit Card Fees

A summary of credit card fees by instrument type for the three and nine months ended September 30, 2021 and 2020 is as follows:

	Three months ended September 30,				Nine months ended September 30,
(Dollars in millions)	2021		2020		2021		2020
Credit card fees by instrument type:
Card interchange fees, net	$	29	$	18	$	78	$	55
Merchant service fees	4		4		12		14
Card service fees	1		1		3		3
Total credit card fees	$	34	$	23	$	93	$	72

Components of Lending Related Fees

A summary of lending related fees by instrument type for the three and nine months ended September 30, 2021 and 2020 is as follows:

	Three months ended September 30,				Nine months ended September 30,
(Dollars in millions)	2021		2020		2021		2020
Lending related fees by instrument type:
Unused commitment fees	$	14	$	10	$	42	$	27
Other	7		3		13		11
Total lending related fees	$	21	$	13	$	55	$	38

Schedule of Investment Banking Revenue

A summary of investment banking revenue by instrument type for the three and nine months ended September 30, 2021 and 2020 is as follows:

	Three months ended September 30,				Nine months ended September 30,
(Dollars in millions)	2021		2020		2021		2020
Investment banking revenue:
Underwriting fees	$	39	$	85	$	248	$	248
Advisory fees	26		2		39		26
Private placements and other	25		5		48		7
Total investment banking revenue	$	90	$	92	$	335	$	281

Summary of Other Noninterest Income

A summary of other noninterest income by instrument type for the three and nine months ended September 30, 2021 and 2020 is as follows:

	Three months ended September 30,				Nine months ended September 30,
(Dollars in millions)	2021		2020		2021		2020
Other noninterest income by instrument type:
Fund management fees	$	15	$	10	$	51	$	26
Net gains on revaluation of foreign currency instruments, net of foreign exchange forward contracts (1)	(4)		(1)		1		(1)
Gains from conversion of convertible debt options	—		30		—		30
Other service revenue	14		10		45		21
Total other noninterest income	$	25	$	49	$	97	$	76

(1)Represents the net revaluation of client and internal foreign currency denominated financial instruments. We enter into foreign exchange forward contracts to economically reduce our foreign exchange exposure related to client and internal foreign currency denominated financial instruments.

Disaggregation of Revenue

The following tables present our revenues from contracts with customers disaggregated by revenue source and segment for the three and nine months ended September 30, 2021 and 2020:

Three months ended September 30, 2021	Global Commercial Bank (2)		SVB Private   Bank		SVB Capital (2)		SVB Leerink (2)		Other Items		Total
(Dollars in millions)
Revenue from contracts with customers:
Client investment fees	$	20	$	—	$	—	$	—	$	—	$	20
Wealth management and trust fees	—		22		—		—		—		22
Spot contract commissions	59		1		—		—		—		60
Card interchange fees, gross	52		—		—		—		—		52
Merchant service fees	4		—		—		—		—		4
Deposit service charges	28		—		—		—		1		29
Investment banking revenue	—		—		—		90		—		90
Commissions	—		—		—		17		—		17
Fund management fees	—		—		14		1		—		15
Performance fees	—		—		4		—		—		4
Correspondent bank rebates	2		—		—		—		—		2
Total revenue from contracts with customers	$	165	$	23	$	18	$	108	$	1	$	315
Revenues outside the scope of ASC 606 (1)	17		2		127		23		188		357
Total noninterest income	$	182	$	25	$	145	$	131	$	189	$	672

(1)Amounts are accounted for under separate guidance than ASC 606.

(2)Global Commercial Bank’s, SVB Capital’s and SVB Leerink's components of noninterest income are shown net of noncontrolling interests. Noncontrolling interest is included within “Other Items."

Three months ended September 30, 2020	Global Commercial Bank (2)		SVB Private   Bank		SVB Capital (2)		SVB Leerink (2)		Other Items		Total
(Dollars in millions)
Revenue from contracts with customers:
Client investment fees	$	31	$	1	$	—	$	—	$	—	$	32
Spot contract commissions	39		—		—		—		—		39
Card interchange fees, gross	29		—		—		—		—		29
Merchant service fees	4		—		—		—		—		4
Deposit service charges	22		—		—		—		—		22
Investment banking revenue	—		—		—		92		—		92
Commissions	—		—		—		16		—		16
Fund management fees	—		—		8		2		—		10
Performance fees	—		—		2		—		—		2
Correspondent bank rebates	1		—		—		—		—		1
Total revenue from contracts with customers	$	126	$	1	$	10	$	110	$	—	$	247
Revenues outside the scope of ASC 606 (1)	22		—		50		4		224		300
Total noninterest income	$	148	$	1	$	60	$	114	$	224	$	547

(1)Amounts are accounted for under separate guidance than ASC 606.

(2)Global Commercial Bank’s, SVB Capital’s and SVB Leerink's components of noninterest income are shown net of noncontrolling interests. Noncontrolling interest is included within “Other Items."

Nine months ended September 30, 2021	Global Commercial Bank (2)		SVB Private   Bank		SVB Capital (2)		SVB Leerink (2)		Other Items		Total
(Dollars in millions)
Revenue from contracts with customers:
Client investment fees	$	53	$	2	$	—	$	—	$	—	$	55
Wealth management and trust fees	—		22		—		—		—		22
Spot contract commissions	174		1		—		—		—		175
Card interchange fees, gross	141		—		—		—		1		142
Merchant service fees	12		—		—		—		—		12
Deposit service charges	80		—		—		—		2		82
Investment banking revenue	—		—		—		335		—		335
Commissions	—		—		—		58		—		58
Fund management fees	—		—		47		4		—		51
Performance fees	—		—		12		—		—		12
Correspondent bank rebates	4		—		—		—		—		4
Total revenue from contracts with customers	$	464	$	25	$	59	$	397	$	3	$	948
Revenues outside the scope of ASC 606 (1)	51		2		330		53		793		1,229
Total noninterest income	$	515	$	27	$	389	$	450	$	796	$	2,177

(1)Amounts are accounted for under separate guidance than ASC 606.

(2)Global Commercial Bank’s, SVB Capital’s and SVB Leerink's components of noninterest income are shown net of noncontrolling interests. Noncontrolling interest is included within “Other Items."

Nine months ended September 30, 2020	Global Commercial Bank (2)		SVB Private   Bank		SVB Capital (2)		SVB Leerink (2)		Other Items		Total
(Dollars in millions)
Revenue from contracts with customers:
Client investment fees	$	105	$	2	$	—	$	—	$	—	$	107
Spot contract commissions	113		—		—		—		—		113
Card interchange fees, gross	91		—		—		—		1		92
Merchant service fees	14		—		—		—		—		14
Deposit service charges	67		—		—		—		—		67
Investment banking revenue	—		—		—		281		—		281
Commissions	—		—		—		49		—		49
Fund management fees	—		—		22		4		—		26
Performance fees	—		—		4		—		—		4
Correspondent bank rebates	4		—		—		—		—		4
Total revenue from contracts with customers	$	394	$	2	$	26	$	334	$	1	$	757
Revenues outside the scope of ASC 606 (1)	54		—		61		6		340		461
Total noninterest income	$	448	$	2	$	87	$	340	$	341	$	1,218

                        

(1)Amounts are accounted for under separate guidance than ASC 606.

(2)Global Commercial Bank’s, SVB Capital’s and SVB Leerink's components of noninterest income are shown net of noncontrolling interests. Noncontrolling interest is included within “Other Items."