v3.21.2
Interest Income and Interest Expense
 6 Months Ended
Jun. 30, 2021
Banking and Thrift, Interest [Abstract]  
Interest Income and Interest Expense
Note 23.
Interest Income and Interest Expense
Interest is recorded over the life of the instrument on an accrual basis based on contractual interest rates.
The table below presents sources of interest income and interest expense.
 
   
Three Months
Ended June
               
Six Months
Ended June
  
           
$ in millions
  
 
2021
 
      2020    
 
  
 
2021
 
      2020  
Deposits with banks
  
 
$  
    
    7
 
      $     18        
 
$  
    
    4
 
      $   223  
Collateralized agreements
  
 
(250
) 
      (16 )       
 
(431
) 
      518  
Trading assets
  
 
1,130
 
      1,257        
 
2,323
 
      2,830  
Investments
  
 
378
 
      321        
 
885
 
      792  
Loans
  
 
1,295
 
      1,222        
 
2,515
 
      2,538  
Other interest
  
 
379
 
      232    
 
  
 
697
 
      883  
Total interest income
  
 
2,939
 
      3,034    
 
  
 
5,993
 
      7,784  
Deposits
  
 
316
 
      659        
 
659
 
      1,477  
Collateralized financings
  
 
25
 
      72        
 
8
 
      520  
Trading liabilities
  
 
372
 
      272        
 
745
 
      586  
Short-term borrowings
  
 
160
 
      158        
 
318
 
      299  
Long-term borrowings
  
 
741
 
      1,131        
 
1,634
 
      2,236  
Other interest
  
 
(304
) 
      (202 )   
 
  
 
(482
) 
      409  
Total interest expense
  
 
1,310
 
      2,090    
 
  
 
2,882
 
      5,527  
Net interest income
  
 
$1,629
 
      $   944    
 
  
 
$3,111
 
      $2,257  
In the table above:
 
•  
Collateralized agreements includes rebates paid and interest income on securities borrowed.
 
•  
Loans excludes interest on loans held for sale that are accounted for at the lower of cost or fair value. Such interest is included within other interest.
 
•  
Other interest income includes interest income on customer debit balances, other interest-earning assets and loans held for sale that are accounted for at the lower of cost or fair value.
•  
Collateralized financings consists of repurchase agreements and securities loaned.
 
•  
Short- and long-term borrowings include both secured and unsecured borrowings.
 
•  
Other interest expense includes rebates received on other interest-bearing liabilities and interest expense on customer credit balances.