Net Interest Revenue

6 Months Ended

Jun. 30, 2014

The following table presents the components of interest revenue and interest expense, and related net interest revenue, for the periods indicated:



	Three Months Ended June 30,					Six Months Ended June 30,
(In millions)	2014			2013		2014		2013
Interest revenue:
Deposits with banks	$	51		$	31	$	85	$	62
Investment securities:
U.S. Treasury and federal agencies	164			183		327		377
State and political subdivisions	44			54		115		105
Other investments	318			339		637		680
Securities purchased under resale agreements	10			12		19		25
Loans and leases	61			79		119		135
Other interest-earning assets	2			2		3		3
Total interest revenue	650			700		1,305		1,387
Interest expense:
Deposits	18			27		33		61
Short-term borrowings⁽¹⁾	(12		)	15		3		31
Long-term debt	64			54		127		110
Other interest-bearing liabilities	19			8		26		13
Total interest expense	89			104		189		215
Net interest revenue	$	561		$	596	$	1,116	$	1,172

⁽¹⁾The negative interest expense for the three months ended June 30, 2014 was associated with a reclassification of certain derivative contracts that hedge our interest-rate risk on certain assets and liabilities. This reclassification reduced total interest revenue and total interest expense for the three months ended June 30, 2014.