v3.21.2
Interest Income and Interest Expense
 9 Months Ended
Sep. 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 September
          
Nine Months
Ended September
  
           
$ in millions
  
 
2021
 
      2020    
 
 
 
  
 
2021
 
      2020  
Deposits with banks
  
 
$  
  
(13
) 
      $     11               
 
$    
 
 
(9
) 
      $     234  
Collateralized agreements
  
 
(220
) 
      (67 )           
 
(651
) 
      451  
Trading assets
  
 
1,230
 
      1,176            
 
3,553
 
      4,006  
Investments
  
 
358
 
      404            
 
1,243
 
      1,196  
Loans
  
 
1,363
 
      1,153            
 
3,878
 
      3,691  
Other interest
  
 
399
 
      255    
 
 
 
  
 
1,096
 
      1,138  
Total interest income
  
 
3,117
 
      2,932    
 
 
 
  
 
9,110
 
      10,716  
Deposits
  
 
319
 
      505            
 
978
 
      1,982  
Collateralized financings
  
 
33
 
      50            
 
41
 
      570  
Trading liabilities
  
 
495
 
      345            
 
1,240
 
      931  
Short-term borrowings
  
 
115
 
      124            
 
433
 
      423  
Long-term borrowings
  
 
843
 
      981            
 
2,477
 
      3,217  
Other interest
  
 
(252
) 
      (157 )   
 
 
 
  
 
(734
) 
      252  
Total interest expense
  
 
1,553
 
      1,848    
 
 
 
  
 
4,435
 
      7,375  
Net interest income
  
 
$1,564
 
      $1,084    
 
 
 
  
 
$4,675
 
      $  3,341  
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.