Net Interest Income

3 Months Ended

Mar. 31, 2022

Banking and Thrift, Interest [Abstract]

Net Interest Income

Net Interest Income

The components of Net Interest Income were as follows:

TABLE 63: NET INTEREST INCOME

	THREE MONTHS ENDED MARCH 31,
(In Millions)	2022		2021
Interest Income
Loans and Leases	$	191.2	$	172.0
Securities — Taxable	170.8		173.9
— Non-Taxable(1)	0.4		0.4
Interest-Bearing Due from and Deposits with Banks(2)	2.6		2.4
Federal Reserve and Other Central Bank Deposits and Other	18.5		1.2
Total Interest Income	$	383.5	$	349.9
Interest Expense
Deposits(3)	$	(15.9)	$	(13.4)
Federal Funds Purchased	—		0.1
Securities Sold Under Agreements to Repurchase	0.3		—
Other Borrowings	3.1		3.5
Senior Notes	9.6		13.7
Long-Term Debt	5.4		5.3
Floating Rate Capital Debt	—		0.6
Total Interest Expense	$	2.5	$	9.8
Net Interest Income	$	381.0	$	340.1

(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% and 69% of total Interest-Bearing Deposits for the three months ended March 31, 2022 and 2021, respectively.