| Disaggregation of Revenue |
The table below presents the Corporation’s net interest income and noninterest income disaggregated by revenue source for 2020, 2019 and 2018. For more information, see Note 1 – Summary of Significant Accounting Principles. For a disaggregation of noninterest income by business segment and All Other, see Note 23 – Business Segment Information.
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| (Dollars in millions) |
2020 |
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2019 |
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2018 |
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| Net interest income |
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| Interest income |
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| Loans and leases |
$ |
34,029
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$ |
43,086 |
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$ |
40,811 |
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| Debt securities |
9,790
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11,806 |
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11,724 |
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| Federal funds sold and securities borrowed or purchased under agreements to resell |
903
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4,843 |
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3,176 |
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| Trading account assets |
4,128
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5,196 |
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4,811 |
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| Other interest income |
2,735
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6,305 |
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6,247 |
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| Total interest income |
51,585
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71,236 |
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66,769 |
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| Interest expense |
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| Deposits |
1,943
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7,188 |
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4,495 |
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| Short-term borrowings |
987
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7,208 |
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5,839 |
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| Trading account liabilities |
974
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1,249 |
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1,358 |
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| Long-term debt |
4,321
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6,700 |
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6,915 |
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| Total interest expense |
8,225
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22,345 |
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18,607 |
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| Net interest income |
$ |
43,360
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$ |
48,891 |
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$ |
48,162 |
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| Noninterest income |
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| Fees and commissions |
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| Card income |
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Interchange fees (1)
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$ |
3,954
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$ |
3,834 |
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$ |
3,866 |
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| Other card income |
1,702
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1,963 |
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1,958 |
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| Total card income |
5,656
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5,797 |
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5,824 |
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| Service charges |
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| Deposit-related fees |
5,991
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6,588 |
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6,667 |
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| Lending-related fees |
1,150
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1,086 |
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1,100 |
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| Total service charges |
7,141
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7,674 |
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7,767 |
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| Investment and brokerage services |
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| Asset management fees |
10,708
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10,241 |
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10,189 |
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| Brokerage fees |
3,866
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3,661 |
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3,971 |
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| Total investment and brokerage services |
14,574
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13,902 |
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14,160 |
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| Investment banking fees |
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| Underwriting income |
4,698
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2,998 |
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2,722 |
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| Syndication fees |
861
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1,184 |
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1,347 |
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| Financial advisory services |
1,621
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1,460 |
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1,258 |
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| Total investment banking fees |
7,180
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5,642 |
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5,327 |
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| Total fees and commissions |
34,551
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33,015 |
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33,078 |
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| Market making and similar activities |
8,355
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9,034 |
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9,008 |
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| Other income (loss) |
(738) |
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304 |
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772 |
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| Total noninterest income |
$ |
42,168
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$ |
42,353 |
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$ |
42,858 |
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(1)Gross interchange fees were $9.2 billion, $10.0 billion and $9.5 billion for 2020, 2019 and 2018, respectively, and are presented net of $5.5 billion, $6.2 billion and $5.6 billion of expenses for rewards and partner payments as well as certain other card costs for the same periods.
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