Interest Income and Interest Expense

9 Months Ended

Sep. 30, 2023

Banking and Thrift, Interest [Abstract]

Interest Income and Interest Expense

Interest Income and Interest Expense

Interest is recorded over the life of the instrument on an accrual basis based on contractual interest rates.

The table below presents sources of interest income and interest expense.

	Three Months Ended September				Nine Months Ended September
$ in millions	2023		2022		2023		2022
Deposits with banks	$	3,065	$	1,107	$	8,331	$	1,392
Collateralized agreements	4,287		1,542		11,744		1,712
Trading assets	2,222		1,334		5,990		3,551
Investments	1,001		578		2,729		1,433
Loans	3,797		2,487		10,942		5,937
Other interest	3,885		1,502		10,295		2,588
Total interest income	18,257		8,550		50,031		16,613
Deposits	4,433		1,811		11,959		2,975
Collateralized financings	3,635		990		9,131		1,308
Trading liabilities	633		513		1,769		1,427
Short-term borrowings	317		152		848		333
Long-term borrowings	2,913		1,503		8,285		3,433
Other interest	4,779		1,538		13,027		1,533
Total interest expense	16,710		6,507		45,019		11,009
Net interest income	$	1,547	$	2,043	$	5,012	$	5,604

In the table above:

•Collateralized agreements includes rebates paid and interest income on securities borrowed.

•Loans excludes interest on loans held for sale that are accounted for at the lower of cost or fair value. Such interest is included within other interest.

•Other interest income includes interest income on customer debit balances, other interest-earning assets and loans held for sale that are accounted for at the lower of cost or fair value.

•Collateralized financings consists of repurchase agreements and securities loaned.

•Short- and long-term borrowings include both secured and unsecured borrowings.

•Other interest expense includes rebates received on other interest-bearing liabilities and interest expense on customer credit balances.