Interest Income and Interest Expense

3 Months Ended

Mar. 31, 2020

Banking and Thrift, Interest [Abstract]

Interest Income and Interest Expense

Note 23.

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 March
$ in millions		2020	2019
Deposits with banks		$   205	$   377
Collateralized agreements		534	1,304
Trading assets		1,573	1,388
Investments		471	395
Loans		1,316	1,319
Other interest		651	814
Total interest income		4,750	5,597
Deposits		818	857
Collateralized financings		448	669
Trading liabilities		314	366
Short-term borrowings		141	142
Long-term borrowings		1,105	1,384
Other interest		611	961
Total interest expense		3,437	4,379
Net interest income		$1,313	$1,218

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.