Net Interest Income

9 Months Ended

Sep. 30, 2020

Banking and Thrift, Interest [Abstract]

Net Interest Income

Net Interest Income

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

	Three Months Ended September 30,				Nine Months Ended September 30,
(In millions)	2020		2019		2020		2019
Interest income:
Interest-bearing deposits with banks	$	(6)	$	98	$	79	$	326
Investment securities:
U.S. Treasury and federal agencies	254		363		922		1,092
State and political subdivisions	9		12		29		37
Other investments	77		126		289		374
Investment securities purchased under money market liquidity facility	25		—		103		—
Total investment securities	365		501		1,343		1,503
Securities purchased under resale agreements	20		101		109		289
Loans	138		194		479		587
Other interest-earning assets	3		107		52		330
Total interest income	520		1,001		2,062		3,035
Interest expense:
Interest-bearing deposits	(61)		173		(47)		553
Investment securities purchased under money market liquidity facility	23		—		87		—
Securities sold under repurchase agreements	—		7		3		27
Other short-term borrowings	2		8		17		18
Long-term debt	69		99		252		312
Other interest-bearing liabilities	9		70		49		195
Total interest expense	42		357		361		1,105
Net interest income	$	478	$	644	$	1,701	$	1,930

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