Line of Business Information (Tables)

9 Months Ended

Sep. 30, 2023

Segment Reporting [Abstract]

Summary of Line of Business Results

The following tables summarize our line of business results for the periods indicated. The "Other" columns represent amounts that are not allocated to our two lines of business, including repositioning charges, employee costs, acquisition costs, revenue-related recoveries and certain legal accruals.

	Three Months Ended September 30,
	Investment Servicing						Investment Management						Other				Total
(Dollars in millions)	2023			2022			2023			2022			2023		2022		2023			2022
Servicing fees	$	1,234		$	1,219		$	—		$	—		$	—	$	—	$	1,234		$	1,219
Management fees	—			—			479			472			—		—		479			472
Foreign exchange trading services	278			293			35			26			—		—		313			319
Securities finance	98			105			5			5			—		—		103			110
Software and processing fees	188			184			—			—			—		—		188			184
Other fee revenue	41			12			3			(17)			—		—		44			(5)
Total fee revenue	1,839			1,813			522			486			—		—		2,361			2,299
Net interest income	620			663			4			(3)			—		—		624			660
Total other income	—			—			—			—			(294)		—		(294)			—
Total revenue	2,459			2,476			526			483			(294)		—		2,691			2,959
Provision for credit losses	—			—			—			—			—		—		—			—
Total expenses	1,798			1,760			379			335			3		15		2,180			2,110
Income before income tax expense	$	661		$	716		$	147		$	148		$	(297)	$	(15)	$	511		$	849
Pre-tax margin	27		%	29		%	28		%	31		%					19		%	29		%
	Nine Months Ended September 30,
	Investment Servicing						Investment Management						Other				Total
(Dollars in millions)	2023			2022			2023			2022			2023		2022		2023			2022
Servicing fees	$	3,710		$	3,884		$	—		$	—		$	—	$	—	$	3,710		$	3,884
Management fees	—			—			1,397			1,482			—		—		1,397			1,482
Foreign exchange trading services	875			948			83			61			—		—		958			1,009
Securities finance	310			300			19			13			—		—		329			313
Software and processing fees (1)	574			573			—			—			—		—		574			573
Other fee revenue	124			46			23			(65)					—		147			(19)
Total fee revenue	5,593			5,751			1,522			1,491			—		—		7,115			7,242
Net interest income	2,069			1,760			12			(7)			—		—		2,081			1,753
Total other income	—			(2)			—			—			(294)		—		(294)			(2)
Total revenue	7,662			7,509			1,534			1,484			(294)		—		8,902			8,993
Provision for credit losses	26			10			—			—			—		—		26			10
Total expenses	5,626			5,452			1,126			1,051			9		42		6,761			6,545
Income before income tax expense	$	2,010		$	2,047		$	408		$	433		$	(303)	$	(42)	2,115			$	2,438
Pre-tax margin	26		%	27		%	27		%	29		%					24		%	27		%