Net Interest Income (Tables)

12 Months Ended

Dec. 31, 2021

Banking and Thrift, Interest [Abstract]

Components of Net Interest Income

The components of Net Interest Income were as follows:

TABLE 98: NET INTEREST INCOME

	FOR THE YEAR ENDED DECEMBER 31,
(In Millions)	2021		2020		2019
Interest Income
Loans and Leases	$	713.5	$	774.6	$	1,153.4
Securities – Taxable	667.6		812.4		1,070.7
– Non-Taxable(1)	1.5		1.4		3.8
Interest-Bearing Due from and Deposits with Banks(2)	9.1		22.4		72.4
Federal Reserve and Other Central Bank Deposits and Other	14.8		32.7		199.6
Total Interest Income	$	1,406.5	$	1,643.5	$	2,499.9
Interest Expense
Deposits(3)	$	(61.3)	$	48.4	$	488.9
Federal Funds Purchased	(0.4)		2.2		25.9
Securities Sold under Agreements to Repurchase	0.2		1.0		6.4
Other Borrowings	14.2		45.3		181.7
Senior Notes	48.3		72.7		72.6
Long-Term Debt	21.1		26.5		38.3
Floating Rate Capital Debt	1.7		4.2		8.2
Total Interest Expense	$	23.8	$	200.3	$	822.0
Net Interest Income	$	1,382.7	$	1,443.2	$	1,677.9

(1) Non-Taxable Securities represent securities that are exempt from U.S. federal income taxes.

(2) Interest-Bearing Due from and Deposits with Banks includes the interest-bearing component of Cash and Due from Banks and Interest-Bearing Deposits with Banks as presented on the consolidated balance sheets.

(3) Deposits were impacted by low and negative interest rates from Non-U.S. Offices Interest-Bearing Deposits, which was approximately 68% of total Interest-Bearing Deposits for the year ended December 31, 2021.