Net Interest Income

3 Months Ended

Mar. 31, 2026

Banking and Thrift, Interest [Abstract]

Net Interest Income

Net Interest Income

The components of Net Interest Income were as follows.

TABLE 57: NET INTEREST INCOME

	THREE MONTHS ENDED MARCH 31, 2026
(In Millions)	2026		2025
Interest Income
Federal Reserve and Other Central Bank Deposits	$	363.5	$	380.0
Interest-Bearing Due from and Deposits with Banks(1)	19.5		23.4
Federal Funds Sold and Securities Purchased under Agreements to Resell	826.9		686.8
Securities — Taxable	487.6		455.0
— Nontaxable(2)	0.2		0.3
Loans	512.1		574.9
Other Interest-Earning Assets(3)	24.2		20.5
Total Interest Income	$	2,234.0	$	2,140.9
Interest Expense
Deposits	$	591.8	$	701.9
Federal Funds Purchased	21.3		23.6
Securities Sold Under Agreements to Repurchase	804.4		673.2
Other Borrowings	75.5		79.7
Senior Notes	41.1		38.8
Long-Term Debt	45.9		55.6
Total Interest Expense	$	1,580.0	$	1,572.8
Net Interest Income	$	654.0	$	568.1

(1)    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.

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

(3) Other Interest-Earning Assets include certain community development investments, collateral deposits with certain securities depositories and clearing houses, Federal Home Loan Bank and Federal Reserve stock, and money market investments which are classified in Other Assets on the consolidated balance sheets.