State Street Corporation(NYSE:STT) 
State Street Corporation, through its subsidiaries, provides a range of financial products and services to institutional investors worldwide. It offers investment servicing products and services, including custody; product accounting; daily pricing and administration; master trust and master custody...
Website: http://www.statestreet.com
Founded: 1792
Full Time Employees: 38,979
Sector: Financial Services
Industry: Asset Management
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At a glance:
Bull Thesis:
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Income Statements:
Quarterly
Annual
| Unit: USD | 2025-09-30 | 2024-09-30 | 2023-09-30 | 2023-06-30 | 2022-12-31 | 2022-06-30 | 2021-12-31 | 2021-09-30 | 2021-06-30 | 2020-09-30 | 2020-06-30 | 2019-12-31 | 2019-09-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
fee revenue: | |||||||||||||
servicing fees | 1,357,000,000 | 1,266,000,000 | 1,234,000,000 | 1,259,000,000 | 1,297,000,000 | 1,384,000,000 | 1,395,000,000 | ||||||
management fees | 612,000,000 | 527,000,000 | 479,000,000 | 461,000,000 | 490,000,000 | 530,000,000 | 526,000,000 | ||||||
foreign exchange trading services | 416,000,000 | 374,000,000 | 313,000,000 | 303,000,000 | 331,000,000 | 300,000,000 | 279,000,000 | ||||||
securities finance | 138,000,000 | 116,000,000 | 103,000,000 | 117,000,000 | 107,000,000 | 102,000,000 | 106,000,000 | ||||||
software and processing fees | 227,000,000 | 208,000,000 | 188,000,000 | 221,000,000 | 188,000,000 | 195,000,000 | 198,000,000 | ||||||
other fee revenue | 79,000,000 | 125,000,000 | 44,000,000 | 58,000,000 | -43,000,000 | ||||||||
total fee revenue | 2,829,000,000 | 2,616,000,000 | 2,361,000,000 | 2,419,000,000 | 2,370,000,000 | 2,511,000,000 | 2,504,000,000 | ||||||
net interest income: | |||||||||||||
interest income | 2,918,000,000 | 3,081,000,000 | 2,328,000,000 | 2,232,000,000 | 704,000,000 | 483,000,000 | 487,000,000 | ||||||
interest expense | 2,203,000,000 | 2,358,000,000 | 1,704,000,000 | 1,541,000,000 | 120,000,000 | -1,000,000 | |||||||
net interest income | 715,000,000 | 723,000,000 | 624,000,000 | 691,000,000 | 584,000,000 | 484,000,000 | 487,000,000 | 467,000,000 | 478,000,000 | 559,000,000 | 636,000,000 | 644,000,000 | |
other income: | |||||||||||||
gains from sales of available-for-sale securities | 1,000,000 | -80,000,000 | -294,000,000 | ||||||||||
total other income | 1,000,000 | -80,000,000 | -294,000,000 | -1,000,000 | 58,000,000 | -1,000,000 | |||||||
total revenue | 3,545,000,000 | 3,259,000,000 | 2,691,000,000 | 3,110,000,000 | 2,953,000,000 | 3,053,000,000 | 2,990,000,000 | ||||||
yoy | 10.36% | -11.86% | 4.01% | ||||||||||
qoq | 8.78% | 21.11% | -13.47% | -3.28% | 2.11% | ||||||||
provision for credit losses | 9,000,000 | 26,000,000 | -18,000,000 | 10,000,000 | -7,000,000 | -2,000,000 | |||||||
expenses: | |||||||||||||
compensation and employee benefits | 1,162,000,000 | 1,134,000,000 | 1,082,000,000 | 1,123,000,000 | 1,046,000,000 | 1,181,000,000 | 1,054,000,000 | ||||||
information systems and communications | 517,000,000 | 463,000,000 | 411,000,000 | 405,000,000 | 392,000,000 | 436,000,000 | 406,000,000 | ||||||
transaction processing services | 276,000,000 | 255,000,000 | 241,000,000 | 235,000,000 | 240,000,000 | 238,000,000 | 253,000,000 | ||||||
occupancy | 106,000,000 | 105,000,000 | 101,000,000 | 103,000,000 | 96,000,000 | 133,000,000 | 102,000,000 | ||||||
amortization of other intangible assets | 56,000,000 | 56,000,000 | 60,000,000 | 60,000,000 | 60,000,000 | 62,000,000 | 62,000,000 | ||||||
other | 317,000,000 | 295,000,000 | 285,000,000 | 286,000,000 | 262,000,000 | 254,000,000 | 221,000,000 | 82,000,000 | 90,000,000 | 101,000,000 | 868,000,000 | 135,000,000 | |
total expenses | 2,434,000,000 | 2,308,000,000 | 2,180,000,000 | 2,212,000,000 | 2,108,000,000 | 2,330,000,000 | 2,116,000,000 | ||||||
income before income tax expense | 1,102,000,000 | 925,000,000 | 511,000,000 | 916,000,000 | 835,000,000 | 730,000,000 | 876,000,000 | ||||||
income tax expense | 241,000,000 | 195,000,000 | 89,000,000 | 153,000,000 | 88,000,000 | 33,000,000 | 162,000,000 | ||||||
net income | 861,000,000 | 730,000,000 | 422,000,000 | 763,000,000 | 747,000,000 | 697,000,000 | 714,000,000 | ||||||
yoy | -2.28% | -39.45% | 6.86% | ||||||||||
qoq | 17.95% | 72.99% | -44.69% | 7.17% | -2.38% | ||||||||
net income margin % | 24.29% | 22.40% | 15.68% | 24.53% | NaN% | 25.30% | 22.83% | 23.88% | NaN% | NaN% | NaN% | NaN% | NaN% |
net income available to common shareholders | 802,000,000 | 682,000,000 | 398,000,000 | 726,000,000 | 712,000,000 | 662,000,000 | 693,000,000 | ||||||
earnings per common share: | |||||||||||||
basic | 2,830,000 | 2,290,000 | 1,270,000 | 2,200,000 | 1,940,000 | 1,810,000 | 1,990,000 | ||||||
diluted | 2,780,000 | 2,260,000 | 1,250,000 | 2,170,000 | 1,910,000 | 1,790,000 | 1,960,000 | ||||||
average common shares outstanding | |||||||||||||
basic | 283,434,000,000 | 297,365,000,000 | 313,147,000,000 | 329,383,000,000 | 367,375,000,000 | 4,459,000,000 | 347,718,000,000 | ||||||
diluted | 288,163,000,000 | 301,847,000,000 | 317,329,000,000 | 333,540,000,000 | 372,123,000,000 | 4,586,000,000 | 353,494,000,000 | ||||||
cash dividends declared per common share | 840,000 | 760,000 | 690,000 | 630,000 | 570,000 | 570,000 | 570,000 | ||||||
acquisition and restructuring costs | 12,000,000 | 26,000,000 | 18,000,000 | ||||||||||
gains related to investment securities | -1,000,000 | -250,000 | -1,000,000 | ||||||||||
other income | |||||||||||||
interest income: | |||||||||||||
interest-bearing deposits with banks | -4,000,000 | -6,000,000 | 4,000,000 | 81,500,000 | 98,000,000 | ||||||||
investment securities: | |||||||||||||
investment securities available-for-sale | 145,000,000 | ||||||||||||
investment securities held-to-maturity | 163,000,000 | ||||||||||||
investment securities purchased under money market liquidity facility | 25,000,000 | 70,000,000 | |||||||||||
total investment securities | 308,000,000 | 365,000,000 | 486,000,000 | ||||||||||
securities purchased under resale agreements | 3,000,000 | 20,000,000 | 24,000,000 | 72,250,000 | 101,000,000 | ||||||||
loans | 157,000,000 | 138,000,000 | 156,000,000 | ||||||||||
other interest-earning assets | 3,000,000 | 3,000,000 | 4,000,000 | 82,500,000 | 107,000,000 | ||||||||
total interest income | 467,000,000 | 520,000,000 | 674,000,000 | 758,750,000 | 1,001,000,000 | ||||||||
interest expense: | |||||||||||||
interest-bearing deposits | -65,000,000 | -61,000,000 | -54,000,000 | 138,250,000 | 173,000,000 | ||||||||
short term borrowings under money market liquidity facility | |||||||||||||
securities sold under repurchase agreements | 1,000,000 | 6,750,000 | 7,000,000 | ||||||||||
other short-term borrowings | 1,000,000 | 2,000,000 | 5,000,000 | 4,500,000 | 8,000,000 | ||||||||
long-term debt | 54,000,000 | 69,000,000 | 95,000,000 | 78,000,000 | 99,000,000 | ||||||||
other interest-bearing liabilities | 10,000,000 | 9,000,000 | 10,000,000 | 48,750,000 | 70,000,000 | ||||||||
total interest expense | 42,000,000 | 115,000,000 | 276,250,000 | 357,000,000 | |||||||||
professional services | 75,000,000 | 89,000,000 | 91,000,000 | 58,750,000 | 70,000,000 | ||||||||
regulatory fees and assessments | 19,000,000 | 16,000,000 | 17,000,000 | 13,500,000 | 18,000,000 | ||||||||
sales advertising public relations | 16,000,000 | 20,000,000 | 12,000,000 | 20,750,000 | 29,000,000 | ||||||||
insurance | 3,000,000 | 2,000,000 | 3,000,000 | 5,250,000 | 7,000,000 | ||||||||
securities processing | 2,000,000 | 10,000,000 | 15,000,000 | ||||||||||
bank operations | 2,000,000 | 2,000,000 | 4,000,000 | 7,500,000 | 9,000,000 | ||||||||
total other incomes | 199,000,000 | 229,000,000 | 243,000,000 | 204,250,000 | 268,000,000 | ||||||||
accrual balance at december 31, 2019 | 190,000,000 | 190,000,000 | 190,000,000 | ||||||||||
payments and other adjustments | -33,000,000 | -53,000,000 | -53,000,000 | -22,000,000 | |||||||||
accrual balance at march 31, 2020 | 157,000,000 | 157,000,000 | 157,000,000 | ||||||||||
accrual balance at june 30, 2020 | 132,000,000 | 132,000,000 | 132,000,000 | ||||||||||
accrual balance at december 31, 2020 | 190,000,000 | ||||||||||||
accruals for beacon | -1,000,000 | -4,000,000 | -4,000,000 | -1,000,000 | |||||||||
accruals for repositioning charges | 61,000,000 | ||||||||||||
accrual balance at march 31, 2021 | 180,000,000 | ||||||||||||
accrual balance at june 30, 2021 | 146,000,000 | ||||||||||||
u.s. treasury and federal agencies | 254,000,000 | 315,000,000 | 273,000,000 | 363,000,000 | |||||||||
state and political subdivisions | 9,000,000 | 9,000,000 | 9,250,000 | 12,000,000 | |||||||||
other investments | 77,000,000 | 92,000,000 | 93,500,000 | 126,000,000 | |||||||||
accrual balance at december 31, 2018 | 303,000,000 | 303,000,000 | 250,000 | 303,000,000 | |||||||||
accrual balance at march 31, 2019 | 246,000,000 | 246,000,000 | 250,000 | 246,000,000 | |||||||||
accrual balance at june 30, 2019 | 197,000,000 | 197,000,000 | 250,000 | 197,000,000 | |||||||||
accrual balance at september 30, 2019 | 135,000,000 | 250,000 | 135,000,000 | ||||||||||
accrual balance at september 30, 2020 | 122,000,000 | ||||||||||||
loans and leases | 146,750,000 | 194,000,000 | |||||||||||
accrual balance at december 31, 2017 | 750,000 | 166,000,000 | |||||||||||
accrual balance at march 31, 2018 | 750,000 | 144,000,000 | |||||||||||
accrual balance at june 30, 2018 | 750,000 | 169,000,000 | |||||||||||
accrual balance at september 30, 2018 | 500,000 | 150,000,000 |
Balance Sheets:
Quarterly
Annual
| Unit: USD | 2025-09-30 | 2025-06-30 | 2024-09-30 | 2023-09-30 | 2023-06-30 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2021-12-31 | 2021-09-30 | 2021-06-30 | 2020-12-31 | 2020-09-30 | 2020-06-30 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2017-06-30 | 2017-03-31 | 2016-03-31 | 2015-06-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
assets: | |||||||||||||||||||||
cash and due from banks | 4,756,000,000 | 4,020,000,000 | 4,067,000,000 | 4,009,000,000 | 3,930,000,000 | 3,652,000,000 | 2,748,000,000 | 5,077,000,000 | 3,302,000,000 | 3,597,000,000 | 2,107,000,000 | 3,224,000,000 | 2,608,000,000 | 2,690,000,000 | 2,603,000,000 | ||||||
interest-bearing deposits with banks | 122,642,000,000 | 118,835,000,000 | 105,121,000,000 | 76,756,000,000 | 86,048,000,000 | 76,498,000,000 | 99,199,000,000 | 91,291,000,000 | 68,965,000,000 | 73,040,000,000 | 67,227,000,000 | 51,031,000,000 | 48,893,000,000 | 48,545,000,000 | 75,523,000,000 | ||||||
securities purchased under resale agreements | 7,730,000,000 | 8,275,000,000 | 8,334,000,000 | 1,816,000,000 | 1,668,000,000 | 2,116,000,000 | 1,308,000,000 | 4,194,000,000 | 1,487,000,000 | 4,679,000,000 | 3,241,000,000 | 2,205,000,000 | 2,056,000,000 | 2,490,000,000 | 2,556,000,000 | ||||||
trading account assets | 884,000,000 | 791,000,000 | 802,000,000 | 725,000,000 | 715,000,000 | 721,000,000 | 685,000,000 | 754,000,000 | 914,000,000 | 860,000,000 | 1,093,000,000 | 928,000,000 | 914,000,000 | 860,000,000 | 1,181,000,000 | ||||||
investment securities available-for-sale | 69,443,000,000 | 70,603,000,000 | 56,853,000,000 | 41,546,000,000 | 43,046,000,000 | 40,986,000,000 | 65,051,000,000 | 53,815,000,000 | 45,148,000,000 | 57,121,000,000 | |||||||||||
investment securities held-to-maturity | 40,934,000,000 | 43,286,000,000 | 49,477,000,000 | 61,956,000,000 | 63,510,000,000 | 58,316,000,000 | 65,232,000,000 | 45,526,000,000 | 41,782,000,000 | 41,914,000,000 | 40,458,000,000 | ||||||||||
loans | 46,470,000,000 | 47,100,000,000 | 41,799,000,000 | 35,317,000,000 | 34,003,000,000 | 35,117,000,000 | 36,016,000,000 | 29,858,000,000 | 26,235,000,000 | ||||||||||||
premises and equipment | 3,080,000,000 | 2,942,000,000 | 2,621,000,000 | 2,334,000,000 | 2,349,000,000 | 2,283,000,000 | 2,282,000,000 | 2,214,000,000 | 2,186,000,000 | ||||||||||||
accrued interest and fees receivable | 4,476,000,000 | 4,589,000,000 | 4,160,000,000 | 3,874,000,000 | 3,732,000,000 | 3,526,000,000 | 3,231,000,000 | 3,203,000,000 | 3,099,000,000 | ||||||||||||
goodwill | 7,916,000,000 | 7,918,000,000 | 7,833,000,000 | 7,487,000,000 | 7,544,000,000 | 7,351,000,000 | 7,556,000,000 | 7,446,000,000 | 6,022,000,000 | ||||||||||||
other intangible assets | 958,000,000 | 1,014,000,000 | 1,166,000,000 | 1,363,000,000 | 1,435,000,000 | 1,568,000,000 | 2,030,000,000 | 2,369,000,000 | 1,613,000,000 | ||||||||||||
other assets | 61,781,000,000 | 67,344,000,000 | 56,248,000,000 | 47,232,000,000 | 46,581,000,000 | 35,547,000,000 | 42,666,000,000 | 34,011,000,000 | 34,434,000,000 | 31,018,000,000 | |||||||||||
total assets | 371,070,000,000 | 376,717,000,000 | 338,481,000,000 | 284,415,000,000 | 294,561,000,000 | 303,568,000,000 | 245,610,000,000 | 244,626,000,000 | 238,425,000,000 | ||||||||||||
liabilities: | |||||||||||||||||||||
deposits: | |||||||||||||||||||||
non-interest-bearing | 34,395,000,000 | 34,569,000,000 | 31,448,000,000 | 35,824,000,000 | 36,455,000,000 | 55,894,000,000 | 34,031,000,000 | 44,804,000,000 | 47,175,000,000 | ||||||||||||
interest-bearing - u.s. | 169,013,000,000 | 169,444,000,000 | 145,527,000,000 | 118,561,000,000 | 122,676,000,000 | 105,021,000,000 | 77,504,000,000 | 66,235,000,000 | |||||||||||||
interest-bearing - non-u.s. | 76,591,000,000 | 79,011,000,000 | 70,454,000,000 | 58,616,000,000 | 63,185,000,000 | 77,321,000,000 | 70,337,000,000 | 69,321,000,000 | |||||||||||||
total deposits | 279,999,000,000 | 283,024,000,000 | 247,429,000,000 | 213,001,000,000 | 222,316,000,000 | 238,236,000,000 | 181,872,000,000 | 180,360,000,000 | 184,896,000,000 | ||||||||||||
securities sold under repurchase agreements | 206,000,000 | 2,377,000,000 | 2,119,000,000 | 3,097,000,000 | 4,294,000,000 | 3,633,000,000 | 4,250,000,000 | 606,000,000 | 1,102,000,000 | 1,082,000,000 | 2,842,000,000 | 3,961,000,000 | 3,894,000,000 | 4,243,000,000 | 9,757,000,000 | ||||||
other short-term borrowings | 9,825,000,000 | 9,844,000,000 | 10,018,000,000 | 1,188,000,000 | 109,000,000 | 832,000,000 | 839,000,000 | 3,092,000,000 | 1,144,000,000 | 1,332,000,000 | 1,341,000,000 | 1,688,000,000 | 4,424,000,000 | ||||||||
accrued expenses and other liabilities | 28,710,000,000 | 28,254,000,000 | 32,185,000,000 | 26,124,000,000 | 26,516,000,000 | 21,326,000,000 | 24,857,000,000 | 24,209,000,000 | 15,606,000,000 | ||||||||||||
long-term debt | 24,688,000,000 | 25,911,000,000 | 20,902,000,000 | 18,564,000,000 | 17,178,000,000 | 14,132,000,000 | 13,999,000,000 | 13,431,000,000 | 12,509,000,000 | 11,093,000,000 | 11,620,000,000 | 11,469,000,000 | 11,421,000,000 | 11,027,000,000 | 9,443,000,000 | ||||||
total liabilities | 343,428,000,000 | 349,410,000,000 | 312,653,000,000 | 260,794,000,000 | 270,357,000,000 | 277,920,000,000 | 221,179,000,000 | 219,836,000,000 | 216,108,000,000 | ||||||||||||
commitments, guarantees and contingencies | |||||||||||||||||||||
shareholders’ equity: | |||||||||||||||||||||
preferred stock, no par, 3,500,000 shares authorized: | |||||||||||||||||||||
series g, 5,000 shares issued and outstanding | 493,000,000 | 493,000,000 | 493,000,000 | 493,000,000 | 493,000,000 | 493,000,000 | 493,000,000 | 493,000,000 | 493,000,000 | ||||||||||||
series i, 15,000 shares issued and outstanding | 1,481,000,000 | 1,481,000,000 | 1,481,000,000 | ||||||||||||||||||
series j, 8,500 shares issued and outstanding | 842,000,000 | 842,000,000 | 842,000,000 | ||||||||||||||||||
series k, 7,500 shares issued and outstanding | 743,000,000 | 743,000,000 | |||||||||||||||||||
common stock | |||||||||||||||||||||
503,879,642 and 503,879,642 shares issued, and 282,217,819 and 288,766,452 shares outstanding | 504,000,000 | ||||||||||||||||||||
surplus | 10,704,000,000 | 10,698,000,000 | 10,723,000,000 | 10,735,000,000 | 10,729,000,000 | 10,760,000,000 | 10,132,000,000 | 10,061,000,000 | 9,799,000,000 | ||||||||||||
retained earnings | 30,938,000,000 | 30,373,000,000 | 29,073,000,000 | 27,993,000,000 | 27,808,000,000 | 26,552,000,000 | 21,918,000,000 | 20,606,000,000 | 18,856,000,000 | ||||||||||||
accumulated other comprehensive income | -1,172,000,000 | -1,321,000,000 | -1,625,000,000 | -3,045,000,000 | -3,258,000,000 | -4,268,000,000 | -876,000,000 | -1,356,000,000 | -1,009,000,000 | ||||||||||||
treasury stock | -16,891,000,000 | -16,506,000,000 | -15,663,000,000 | -14,542,000,000 | -13,555,000,000 | -9,876,000,000 | -10,209,000,000 | -8,715,000,000 | -9,029,000,000 | ||||||||||||
total shareholders’ equity | 27,642,000,000 | 27,307,000,000 | 25,828,000,000 | 23,621,000,000 | 24,204,000,000 | 25,648,000,000 | 24,431,000,000 | 24,790,000,000 | 22,317,000,000 | ||||||||||||
total liabilities and shareholders' equity | 371,070,000,000 | 376,717,000,000 | 338,481,000,000 | 284,415,000,000 | 294,561,000,000 | 303,568,000,000 | 245,610,000,000 | 244,626,000,000 | 238,425,000,000 | ||||||||||||
503,879,642 and 503,879,642 shares issued, and 285,561,974 and 288,766,452 shares outstanding | 504,000,000 | ||||||||||||||||||||
series d, 7,500 shares issued and outstanding | 742,000,000 | 742,000,000 | 742,000,000 | 742,000,000 | 742,000,000 | 742,000,000 | |||||||||||||||
series f, 2,500 shares issued and outstanding | 247,000,000 | 247,000,000 | 247,000,000 | ||||||||||||||||||
series h, 5,000 shares issued and outstanding | 494,000,000 | 494,000,000 | 494,000,000 | 494,000,000 | 494,000,000 | ||||||||||||||||
503,879,642 and 503,879,642 shares issued, and 294,191,001 and 301,944,043 shares outstanding | 504,000,000 | ||||||||||||||||||||
short-term borrowings | 8,000,000 | 53,000,000 | |||||||||||||||||||
503,879,642 and 503,879,642 shares issued, and 308,583,511 and 349,024,167 shares outstanding | 504,000,000 | ||||||||||||||||||||
503,879,642 and 503,879,642 shares issued, and 322,101,110 and 349,024,167 shares outstanding | 504,000,000 | ||||||||||||||||||||
unamortized premiums, net of discounts at period end | 520,000,000 | ||||||||||||||||||||
net premium amortization | 142,000,000 | ||||||||||||||||||||
table 14: average balances and interest rates - fully taxable-equivalent basis | |||||||||||||||||||||
investment securities: | |||||||||||||||||||||
investment securities available for sale | 53,613,000,000 | ||||||||||||||||||||
investment securities held-to-maturity purchased under money market liquidity facility | 420,000,000 | ||||||||||||||||||||
total investment securities | 111,929,000,000 | 110,997,000,000 | |||||||||||||||||||
other interest-earning assets | 20,850,000,000 | 21,322,000,000 | 22,882,000,000 | 22,619,000,000 | 22,672,000,000 | 22,085,000,000 | |||||||||||||||
average total interest-earning assets | 247,231,000,000 | 258,416,000,000 | 193,574,000,000 | 191,840,000,000 | 194,081,000,000 | 229,905,000,000 | |||||||||||||||
average total assets | 286,430,000,000 | 298,643,000,000 | 221,577,000,000 | 219,209,000,000 | 223,623,000,000 | 261,485,000,000 | |||||||||||||||
interest-bearing deposits: | |||||||||||||||||||||
u.s. | 98,252,000,000 | 105,286,000,000 | 25,849,000,000 | 25,928,000,000 | 27,096,000,000 | 29,164,000,000 | |||||||||||||||
non-u.s. | 76,842,000,000 | 81,318,000,000 | 97,201,000,000 | 94,990,000,000 | 92,971,000,000 | 107,406,000,000 | |||||||||||||||
total interest-bearing deposits | 175,094,000,000 | 186,604,000,000 | 123,050,000,000 | 120,918,000,000 | 120,067,000,000 | 136,570,000,000 | |||||||||||||||
short-term borrowings under money market liquidity facility | 421,000,000 | ||||||||||||||||||||
other interest-bearing liabilities | 2,725,000,000 | 5,332,000,000 | 5,298,000,000 | 5,240,000,000 | 5,951,000,000 | 8,040,000,000 | |||||||||||||||
average total interest-bearing liabilities | 196,772,000,000 | 207,226,000,000 | 145,111,000,000 | 142,814,000,000 | 142,991,000,000 | 168,257,000,000 | |||||||||||||||
non-interest bearing deposits | 47,780,000,000 | ||||||||||||||||||||
other liabilities | 15,992,000,000 | ||||||||||||||||||||
preferred shareholders' equity | 1,976,000,000 | ||||||||||||||||||||
common shareholders' equity | 23,910,000,000 | ||||||||||||||||||||
average total liabilities and shareholders' equity | 286,430,000,000 | ||||||||||||||||||||
excess of rate earned over rate paid | 870,000 | ||||||||||||||||||||
net interest income, fully taxable-equivalent basis | 2,554,000,000 | ||||||||||||||||||||
net interest margin, fully taxable-equivalent basis | 1,030,000 | ||||||||||||||||||||
tax-equivalent adjustment | -10,000,000 | ||||||||||||||||||||
net interest income, gaap basis | 2,544,000,000 | ||||||||||||||||||||
503,879,642 and 503,879,642 shares issued, and 367,967,505 and 365,982,820 shares outstanding | 504,000,000 | ||||||||||||||||||||
fee revenue: | |||||||||||||||||||||
servicing fees | 1,297,000,000 | 1,399,000,000 | 5,167,000,000 | 1,301,000,000 | 1,272,000,000 | ||||||||||||||||
management fees | 490,000,000 | 9,000,000 | 504,000,000 | 1,880,000,000 | 455,000,000 | 425,000,000 | |||||||||||||||
foreign exchange trading services | 331,000,000 | 286,000,000 | 1,363,000,000 | 294,000,000 | 344,000,000 | ||||||||||||||||
securities finance | 107,000,000 | 109,000,000 | 356,000,000 | 84,000,000 | 92,000,000 | ||||||||||||||||
software and processing fees | 188,000,000 | -85,000,000 | 216,000,000 | 733,000,000 | 172,000,000 | 245,000,000 | |||||||||||||||
other fee revenue | -43,000,000 | ||||||||||||||||||||
total fee revenue | 2,370,000,000 | 7,000,000 | 2,514,000,000 | 9,499,000,000 | 2,306,000,000 | 2,378,000,000 | |||||||||||||||
net interest income: | |||||||||||||||||||||
interest income | 704,000,000 | 467,000,000 | 2,575,000,000 | 520,000,000 | 674,000,000 | ||||||||||||||||
interest expense | 120,000,000 | 375,000,000 | 42,000,000 | 115,000,000 | |||||||||||||||||
net interest income | 584,000,000 | 27,000,000 | 467,000,000 | 2,200,000,000 | 478,000,000 | 559,000,000 | |||||||||||||||
other income: | |||||||||||||||||||||
gains related to investment securities | -1,000,000 | ||||||||||||||||||||
other income | 53,000,000 | ||||||||||||||||||||
total other income | -1,000,000 | 53,000,000 | 4,000,000 | ||||||||||||||||||
total revenue | 2,953,000,000 | 7,000,000 | 3,034,000,000 | 11,703,000,000 | 2,784,000,000 | 2,937,000,000 | |||||||||||||||
benefit from credit losses | 10,000,000 | -15,000,000 | 88,000,000 | 52,000,000 | |||||||||||||||||
expenses: | |||||||||||||||||||||
compensation and employee benefits | 1,046,000,000 | 1,077,000,000 | 4,450,000,000 | 1,062,000,000 | 1,051,000,000 | ||||||||||||||||
information systems and communications | 392,000,000 | 398,000,000 | 1,550,000,000 | 395,000,000 | 376,000,000 | ||||||||||||||||
transaction processing services | 240,000,000 | 263,000,000 | 978,000,000 | 234,000,000 | 233,000,000 | ||||||||||||||||
occupancy | 96,000,000 | 100,000,000 | 489,000,000 | 109,000,000 | 109,000,000 | ||||||||||||||||
acquisition and restructuring costs | 12,000,000 | 11,000,000 | 50,000,000 | 15,000,000 | 12,000,000 | ||||||||||||||||
amortization of other intangible assets | 60,000,000 | 63,000,000 | 234,000,000 | 59,000,000 | 58,000,000 | ||||||||||||||||
other | 262,000,000 | 199,000,000 | 965,000,000 | 229,000,000 | 243,000,000 | 3,005,000,000 | |||||||||||||||
total expenses | 2,108,000,000 | 2,111,000,000 | 8,716,000,000 | 2,103,000,000 | 2,082,000,000 | ||||||||||||||||
income before income tax expense | 835,000,000 | 34,000,000 | 938,000,000 | 2,899,000,000 | 681,000,000 | 803,000,000 | |||||||||||||||
income tax expense | 88,000,000 | 175,000,000 | 479,000,000 | 126,000,000 | 109,000,000 | ||||||||||||||||
net income | 747,000,000 | 763,000,000 | 2,420,000,000 | 555,000,000 | 694,000,000 | ||||||||||||||||
net income available to common shareholders | 712,000,000 | 728,000,000 | 2,257,000,000 | 517,000,000 | 662,000,000 | ||||||||||||||||
earnings per common share: | |||||||||||||||||||||
basic | 1,940,000 | 2,110,000 | 6,400,000 | 1,470,000 | 1,880,000 | ||||||||||||||||
diluted | 1,910,000 | 2,070,000 | 6,320,000 | 1,450,000 | 1,860,000 | ||||||||||||||||
average common shares outstanding | |||||||||||||||||||||
cash dividends declared per common share | 570,000 | 520,000 | 2,080,000 | 520,000 | 520,000 | ||||||||||||||||
other comprehensive income, net of related taxes: | |||||||||||||||||||||
foreign currency translation, net of related taxes of 53 and , respectively | -446,000,000 | ||||||||||||||||||||
net unrealized losses on available-for-sale securities, net of reclassification adjustment and net of related taxes of (233) and (14), respectively | -618,000,000 | ||||||||||||||||||||
net unrealized gains on available-for-sale securities designated in fair value hedges, net of related taxes of 42 and , respectively | 113,000,000 | ||||||||||||||||||||
net unrealized losses on cash flow hedges, net of related taxes of (17) and , respectively | -40,000,000 | ||||||||||||||||||||
net unrealized gains on retirement plans, net of related taxes of 1 and 1, respectively | 2,000,000 | 2,000,000 | |||||||||||||||||||
other comprehensive loss | -989,000,000 | ||||||||||||||||||||
total comprehensive income | -242,000,000 | 759,000,000 | 3,483,000,000 | 874,000,000 | 1,184,000,000 | ||||||||||||||||
foreign currency translation, net of related taxes of 63 and 45, respectively | -544,000,000 | ||||||||||||||||||||
net unrealized losses on available-for-sale securities, net of reclassification adjustment and net of related taxes of (764) and (175), respectively | -2,063,000,000 | ||||||||||||||||||||
net unrealized gains on available-for-sale securities designated in fair value hedges, net of related taxes of 99 and , respectively | 270,000,000 | ||||||||||||||||||||
net unrealized losses on cash flow hedges, net of related taxes of (89) and , respectively | -234,000,000 | ||||||||||||||||||||
net unrealized gains on retirement plans, net of related taxes of 7 and 4, respectively | 17,000,000 | ||||||||||||||||||||
pre-tax margin | |||||||||||||||||||||
average assets | |||||||||||||||||||||
table 19: average statement of condition | |||||||||||||||||||||
other non-interest-earning assets | 35,150,000,000 | 24,779,000,000 | 24,761,000,000 | ||||||||||||||||||
liabilities and shareholders’ equity: | |||||||||||||||||||||
non-interest-bearing deposits | 47,358,000,000 | 43,241,000,000 | 44,249,000,000 | ||||||||||||||||||
other non-interest-bearing liabilities | 18,407,000,000 | 11,539,000,000 | 10,626,000,000 | ||||||||||||||||||
preferred shareholders’ equity | 2,110,000,000 | 3,197,000,000 | 3,197,000,000 | 2,703,000,000 | 2,129,000,000 | ||||||||||||||||
common shareholders’ equity | 23,542,000,000 | 18,489,000,000 | 18,323,000,000 | 18,875,000,000 | 19,191,000,000 | ||||||||||||||||
average total liabilities and shareholders’ equity | 298,643,000,000 | 221,577,000,000 | 219,209,000,000 | 223,623,000,000 | 261,485,000,000 | ||||||||||||||||
foreign currency translation, net of related taxes of and 4, respectively | 49,000,000 | ||||||||||||||||||||
net unrealized gains on available-for-sale securities, net of reclassification adjustment and net of related taxes of (14) and 132, respectively | -35,000,000 | ||||||||||||||||||||
net unrealized gains on available-for-sale securities designated in fair value hedges, net of related taxes of and 1, respectively | -16,000,000 | -4,000,000 | |||||||||||||||||||
net unrealized gains on cash flow hedges, net of related taxes of and 3, respectively | -4,000,000 | ||||||||||||||||||||
other comprehensive income | -4,000,000 | 1,063,000,000 | 319,000,000 | 490,000,000 | |||||||||||||||||
foreign currency translation, net of related taxes of 45 and , respectively | -151,000,000 | ||||||||||||||||||||
net unrealized gains on available-for-sale securities, net of reclassification adjustment and net of related taxes of (175) and 167, respectively | -460,000,000 | ||||||||||||||||||||
net unrealized gains on available-for-sale securities designated in fair value hedges, net of related taxes of and , respectively | -4,000,000 | ||||||||||||||||||||
net unrealized gains on cash flow hedges, net of related taxes of and 47, respectively | -4,000,000 | ||||||||||||||||||||
net unrealized gains on retirement plans, net of related taxes of 4 and 5, respectively | 10,000,000 | ||||||||||||||||||||
gains from sales of available-for-sale securities | 4,000,000 | ||||||||||||||||||||
foreign currency translation, net of related taxes of (40), 2 and , respectively | 488,000,000 | ||||||||||||||||||||
net unrealized gains on available-for-sale securities, net of reclassification adjustment and net of related taxes of 165, 212 and (134), respectively | 436,000,000 | ||||||||||||||||||||
net unrealized gains on available-for-sale securities designated in fair value hedges, net of related taxes of 1, 6 and 9, respectively | 3,000,000 | ||||||||||||||||||||
non-credit impairment on held-to-maturity securities previously identified under asc 320, net of related taxes of zero, 1 and 2, respectively | |||||||||||||||||||||
net unrealized gains on cash flow hedges, net of related taxes of 46, 9 and (17), respectively | 127,000,000 | ||||||||||||||||||||
net unrealized gains on retirement plans, net of related taxes of 3, and 8, respectively | 9,000,000 | ||||||||||||||||||||
foreign currency translation, net of related taxes of (14) and (62), respectively | 283,000,000 | ||||||||||||||||||||
net unrealized gains on available-for-sale securities, net of reclassification adjustment and net of related taxes of 4 and 53, respectively | 2,000,000 | ||||||||||||||||||||
net unrealized gains on available-for-sale securities designated in fair value hedges, net of related taxes of 2 and 3, respectively | 4,000,000 | ||||||||||||||||||||
non-credit impairment on held-to-maturity securities previously identified under asc 320, net of related taxes of zero and zero, respectively | |||||||||||||||||||||
net unrealized gains on cash flow hedges, net of related taxes of 8 and 3, respectively | 29,000,000 | ||||||||||||||||||||
net unrealized gains on retirement plans, net of related taxes of zero and zero, respectively | 1,000,000 | ||||||||||||||||||||
foreign currency translation, net of related taxes of (20) and (55), respectively | 135,000,000 | ||||||||||||||||||||
net unrealized gains on available-for-sale securities, net of reclassification adjustment and net of related taxes of 171 and 263, respectively | 463,000,000 | ||||||||||||||||||||
net unrealized gains on available-for-sale securities designated in fair value hedges, net of related taxes of zero and 4, respectively | |||||||||||||||||||||
non-credit impairment on held-to-maturity securities previously identified under asc 320, net of related taxes of zero and 1, respectively | |||||||||||||||||||||
net unrealized gains on cash flow hedges, net of related taxes of 55 and 12, respectively | 152,000,000 | ||||||||||||||||||||
net unrealized gains on retirement plans, net of related taxes of 5 and , respectively | 15,000,000 | 14,000,000 | |||||||||||||||||||
foreign currency translation, net of related taxes of 4 and 10, respectively | 152,000,000 | ||||||||||||||||||||
net unrealized gains on available-for-sale securities, net of reclassification adjustment and net of related taxes of 132 and 102, respectively | 327,000,000 | ||||||||||||||||||||
net unrealized gains on available-for-sale securities designated in fair value hedges, net of related taxes of 1 and 2, respectively | 3,000,000 | ||||||||||||||||||||
net unrealized gains on cash flow hedges, net of related taxes of 3 and zero, respectively | 6,000,000 | ||||||||||||||||||||
net unrealized gains on retirement plans, net of related taxes of 1 and zero, respectively | 2,000,000 | ||||||||||||||||||||
foreign currency translation, net of related taxes of and 7, respectively | -148,000,000 | ||||||||||||||||||||
net unrealized gains on available-for-sale securities, net of reclassification adjustment and net of related taxes of 167 and 210, respectively | 461,000,000 | ||||||||||||||||||||
net unrealized gains on cash flow hedges, net of related taxes of 47 and 9, respectively | 123,000,000 | ||||||||||||||||||||
series c, 5,000 shares issued and outstanding | 491,000,000 | 491,000,000 | 491,000,000 | ||||||||||||||||||
series e, 7,500 shares issued and outstanding | 728,000,000 | 728,000,000 | |||||||||||||||||||
series f, 7,500 shares issued and outstanding | 742,000,000 | 742,000,000 | 742,000,000 | ||||||||||||||||||
503,879,642 and 503,879,642 shares issued, and 357,389,416 and 379,946,724 shares outstanding | 504,000,000 | ||||||||||||||||||||
loans and leases | 25,722,000,000 | 23,240,000,000 | 20,607,000,000 | 20,139,000,000 | 18,615,000,000 | 17,765,000,000 | |||||||||||||||
503,879,642 and 503,879,642 shares issued, and 379,946,724 and 367,649,858 shares outstanding | 504,000,000 | ||||||||||||||||||||
interest-bearing—u.s. | 50,139,000,000 | ||||||||||||||||||||
interest-bearing—non-u.s. | 87,582,000,000 | ||||||||||||||||||||
503,879,642 and 503,879,642 shares issued | 504,000,000 | ||||||||||||||||||||
investment securities | 95,921,000,000 | 97,219,000,000 | 100,899,000,000 | 110,795,000,000 | |||||||||||||||||
federal funds purchased | 1,000,000 | 15,000,000 | 23,000,000 | ||||||||||||||||||
other noninterest-earning assets | 26,852,000,000 | 28,977,000,000 | |||||||||||||||||||
noninterest-bearing deposits | 45,001,000,000 | 55,676,000,000 | |||||||||||||||||||
other noninterest-bearing liabilities | 14,053,000,000 | 16,232,000,000 | |||||||||||||||||||
table 19: carrying values of investment securities | |||||||||||||||||||||
available for sale: | |||||||||||||||||||||
u.s. treasury and federal agencies: | |||||||||||||||||||||
direct obligations | 12,902,000,000 | ||||||||||||||||||||
mortgage-backed securities | 19,718,000,000 | ||||||||||||||||||||
asset-backed securities: | |||||||||||||||||||||
student loans | 9,139,000,000 | ||||||||||||||||||||
credit cards | 1,569,000,000 | ||||||||||||||||||||
sub-prime | 491,000,000 | ||||||||||||||||||||
total asset-backed securities | 14,204,000,000 | ||||||||||||||||||||
non-u.s. debt securities: | |||||||||||||||||||||
asset-backed securities | 2,933,000,000 | ||||||||||||||||||||
government securities | 4,003,000,000 | ||||||||||||||||||||
total non-u.s. debt securities | 20,383,000,000 | ||||||||||||||||||||
state and political subdivisions | 10,449,000,000 | ||||||||||||||||||||
collateralized mortgage obligations | 3,984,000,000 | ||||||||||||||||||||
other u.s. debt securities | 3,336,000,000 | ||||||||||||||||||||
u.s. equity securities | 39,000,000 | ||||||||||||||||||||
non-u.s. equity securities | 3,000,000 | ||||||||||||||||||||
u.s. money-market mutual funds | 282,000,000 | ||||||||||||||||||||
non-u.s. money-market mutual funds | 8,000,000 | ||||||||||||||||||||
total | 85,308,000,000 | ||||||||||||||||||||
held to maturity: |
Cashflow Statements:
Quarterly
Annual
| Unit: USD | 2028-09-30 | 2025-09-30 | 2023-09-30 | 2021-12-31 | 2021-09-30 | 2020-12-31 | 2020-09-30 |
|---|---|---|---|---|---|---|---|
operating activities: | |||||||
net income | 861,000,000 | 861,000,000 | 422,000,000 | 697,000,000 | 714,000,000 | 537,000,000 | 555,000,000 |
adjustments to reconcile net income to net cash from operating activities: | |||||||
deferred income tax | 1,000,000 | 1,000,000 | -8,000,000 | -110,000,000 | -37,000,000 | ||
amortization of other intangible assets | 56,000,000 | 56,000,000 | 60,000,000 | 62,000,000 | 62,000,000 | 59,000,000 | 59,000,000 |
other non-cash adjustments for depreciation, amortization and accretion | 103,000,000 | 103,000,000 | 163,000,000 | 297,000,000 | 315,000,000 | 2,069,000,000 | -1,361,000,000 |
(gains) losses related to investment securities | |||||||
benefit from credit losses | 9,000,000 | ||||||
change in trading account assets | -93,000,000 | -93,000,000 | -10,000,000 | -37,000,000 | 0 | 25,000,000 | 43,000,000 |
change in accrued interest and fees receivable | 112,000,000 | 112,000,000 | -142,000,000 | 129,000,000 | -48,000,000 | 187,000,000 | -57,000,000 |
change in collateral deposits | 11,222,000,000 | 11,222,000,000 | 1,070,000,000 | 61,000,000 | -1,203,000,000 | -4,320,000,000 | 1,203,000,000 |
change in unrealized losses on foreign exchange derivatives | -1,778,000,000 | 4,683,000,000 | |||||
change in other assets | -2,000,000 | -2,000,000 | 353,000,000 | 412,000,000 | 1,723,000,000 | -976,000,000 | 414,000,000 |
change in accrued expenses and other liabilities | -2,650,000,000 | -2,650,000,000 | -144,000,000 | -2,042,000,000 | -503,000,000 | -696,000,000 | -3,968,000,000 |
other | 61,000,000 | 61,000,000 | -79,000,000 | 140,000,000 | 26,000,000 | -22,000,000 | 76,000,000 |
net cash from operating activities | 7,901,000,000 | 7,901,000,000 | 222,000,000 | 4,227,000,000 | 388,000,000 | 3,376,000,000 | -5,219,000,000 |
capital expenditures | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
free cash flows | 7,901,000,000 | 7,901,000,000 | 222,000,000 | 4,227,000,000 | 388,000,000 | 3,376,000,000 | -5,219,000,000 |
investing activities: | |||||||
net increase in interest-bearing deposits with banks | -3,806,000,000 | -3,806,000,000 | |||||
net increase in securities purchased under resale agreements | 545,000,000 | ||||||
proceeds from sales of available-for-sale securities | 2,390,000,000 | 2,390,000,000 | 3,873,000,000 | 3,570,000,000 | 2,398,000,000 | 400,000,000 | 159,000,000 |
proceeds from maturities of available-for-sale securities | 7,649,000,000 | 7,649,000,000 | 4,376,000,000 | 7,203,000,000 | 5,191,000,000 | 7,387,000,000 | 6,110,000,000 |
purchases of available-for-sale securities | -9,452,000,000 | -9,452,000,000 | -7,035,000,000 | -13,778,000,000 | -11,407,000,000 | -7,529,000,000 | -13,583,000,000 |
proceeds from maturities of held-to-maturity securities | 2,376,000,000 | 2,376,000,000 | 1,457,000,000 | 3,022,000,000 | 4,678,000,000 | 4,316,000,000 | 4,822,000,000 |
purchases of held-to-maturity securities | -2,000,000 | -2,599,000,000 | -2,914,000,000 | -4,987,000,000 | -4,997,000,000 | ||
sale of loans | 37,000,000 | 37,000,000 | 75,000,000 | 108,000,000 | 24,000,000 | ||
net increase in loans | 566,000,000 | 566,000,000 | |||||
business acquisitions, net of cash acquired | 0 | -89,000,000 | |||||
purchases of equity investments and other long-term assets | -101,000,000 | -101,000,000 | -94,000,000 | -16,000,000 | -199,000,000 | -427,000,000 | |
purchases of premises and equipment | -243,000,000 | -243,000,000 | -135,000,000 | -255,000,000 | -197,000,000 | -136,000,000 | -153,000,000 |
net cash from investing activities | 57,000,000 | 57,000,000 | 10,168,000,000 | -1,694,000,000 | 2,610,000,000 | 12,173,000,000 | |
financing activities: | |||||||
net decrease in time deposits | 1,164,000,000 | 1,164,000,000 | |||||
net increase in all other deposits | -4,188,000,000 | -4,188,000,000 | -5,616,000,000 | -4,497,000,000 | 40,605,000,000 | -900,000,000 | |
net increase in securities sold under repurchase agreements | -2,171,000,000 | -2,171,000,000 | -1,197,000,000 | 938,000,000 | -20,000,000 | ||
net increase in other short-term borrowings | -19,000,000 | -19,000,000 | -86,000,000 | -6,481,000,000 | 3,843,000,000 | ||
proceeds from issuance of long-term debt, net of issuance costs | 0 | 0 | 1,494,000,000 | 499,000,000 | 0 | -8,000,000 | 0 |
payments for long-term debt and obligations under finance leases | -1,314,000,000 | -1,314,000,000 | -13,000,000 | 87,000,000 | -8,000,000 | -1,700,000,000 | -8,000,000 |
payments for redemption of preferred stock | 0 | 0 | 0 | 0 | |||
proceeds from issuance of preferred stock, net of issuance costs | 0 | 0 | |||||
repurchases of common stock | -400,000,000 | -400,000,000 | -1,000,000,000 | 0 | 0 | 0 | 0 |
repurchases of common stock for employee tax withholding | -16,000,000 | -16,000,000 | -12,000,000 | -33,000,000 | 0 | -12,000,000 | -14,000,000 |
payments for cash dividends | -275,000,000 | -275,000,000 | -227,000,000 | -243,000,000 | -199,000,000 | -223,000,000 | -221,000,000 |
net cash from financing activities | -7,222,000,000 | -7,222,000,000 | -10,311,000,000 | -3,508,000,000 | -3,011,000,000 | 34,655,000,000 | |
net increase in cash and due from banks | 736,000,000 | 736,000,000 | |||||
cash and due from banks at beginning of period | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
cash and due from banks at end of period | 736,000,000 | 736,000,000 | 79,000,000 | -975,000,000 | -13,000,000 | -1,381,000,000 | 1,163,000,000 |
supplemental disclosure: | |||||||
interest paid | 2,306,000,000 | 2,306,000,000 | 1,578,000,000 | ||||
income taxes paid | 82,000,000 | 82,000,000 | 43,000,000 | ||||
standard | |||||||
asu 2025-06, intangibles-goodwill and other-internal-use software (subtopic 350-40): targeted improvements to the accounting for internal-use software | |||||||
asu 2024-03, income statement (subtopic 220-40): reporting comprehensive income - expense disaggregation disclosures | |||||||
asu 2023-09, income taxes (topic 740): improvements to income tax disclosures | |||||||
change in unrealized losses (gains) on foreign exchange derivatives | 6,586,000,000 | -2,145,000,000 | |||||
losses related to investment securities | -58,000,000 | ||||||
provision for credit losses | 9,000,000 | -7,000,000 | |||||
net decrease in securities purchased under resale agreements | -148,000,000 | -165,000,000 | |||||
change in unrealized (gains) losses on foreign exchange derivatives | |||||||
net decrease in interest-bearing deposits with banks | 9,292,000,000 | 1,195,000,000 | |||||
net (increase) in loans | -1,597,000,000 | 94,000,000 | -2,054,000,000 | -174,000,000 | |||
net increase in time deposits | 2,030,000,000 | -101,000,000 | 1,680,000,000 | -2,049,000,000 | |||
net decrease in all other deposits | -11,341,000,000 | ||||||
net decrease in short-term borrowings | -45,000,000 | ||||||
net decrease in cash and due from banks | 79,000,000 | ||||||
assets: | |||||||
trading account assets: | |||||||
u.s. government securities | |||||||
non-u.s. government securities | |||||||
total trading account assets | |||||||
available-for-sale investment securities: | |||||||
u.s. treasury and federal agencies: | |||||||
direct obligations | |||||||
mortgage-backed securities | |||||||
total u.s. treasury and federal agencies | |||||||
non-u.s. debt securities: | |||||||
asset-backed securities | |||||||
non-u.s. sovereign, supranational and non-u.s. agency | |||||||
total non-u.s. debt securities | |||||||
asset-backed securities: | |||||||
student loans | |||||||
collateralized loan obligations | |||||||
non-agency cmbs and rmbs | |||||||
total asset-backed securities | |||||||
state and political subdivisions | |||||||
other u.s. debt securities | |||||||
total available-for-sale investment securities | |||||||
other assets: | |||||||
derivative instruments: | |||||||
foreign exchange contracts | |||||||
interest rate contracts | |||||||
total derivative instruments | |||||||
total assets carried at fair value | |||||||
liabilities: | |||||||
accrued expenses and other liabilities: | |||||||
other derivative contracts | |||||||
total liabilities carried at fair value | |||||||
purchases of held-to-maturity securities under the mmlf program | 0 | 0 | |||||
proceeds from maturities of held-to-maturity securities under the mmlf program | 0 | 0 | 1,527,000,000 | 6,443,000,000 | |||
divestitures | 0 | 0 | |||||
net increase in short-term borrowings under money market liquidity facility | 0 | 0 | -1,517,000,000 | -6,442,000,000 | |||
proceeds from issuance of common stock, net of issuance costs | 0 | ||||||
net increase | -975,000,000 | -13,000,000 | -1,381,000,000 | 1,163,000,000 | |||
net (decrease) in time deposits | |||||||
net (decrease) in other short-term borrowings | |||||||
losses (gains) related to investment securities | -2,000,000 | 0 | |||||
foreign sovereign, supranational and non-u.s. agency | |||||||
net (increase) in loans and leases | |||||||
net cash (used in) by investing activities | |||||||
fair value | |||||||
investment securities | |||||||
loans | |||||||
goodwill and other intangible assets | |||||||
derivative financial instruments | |||||||
offsetting arrangements | |||||||
contingencies | |||||||
variable interest entities | |||||||
equity-based compensation | |||||||
income taxes | |||||||
earnings per common share | |||||||
revenue from contracts with customers | |||||||
deferred income tax expense | -38,000,000 | ||||||
net decrease (increase) in interest-bearing deposits with banks | 14,232,000,000 | ||||||
net decrease (increase) in securities purchased under resale agreements | -473,000,000 | ||||||
credit cards | |||||||
government securities | |||||||
collateralized mortgage obligations | |||||||
trading account liabilities: | |||||||
net cash (used in) financing activities | |||||||
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