| Interest Income and Interest Expense |
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.
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Year Ended December |
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2020 |
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2019 |
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| Deposits with banks |
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$ 245 |
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$ 1,211 |
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| Collateralized agreements |
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282 |
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4,397 |
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| Trading assets |
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5,210 |
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5,899 |
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| Investments |
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1,627 |
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1,457 |
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| Loans |
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4,883 |
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5,411 |
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| Other interest |
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1,442 |
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3,363 |
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13,689 |
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21,738 |
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| Deposits |
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2,386 |
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3,568 |
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| Collateralized financings |
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599 |
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2,658 |
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| Trading liabilities |
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1,238 |
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1,213 |
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| Short-term borrowings |
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542 |
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668 |
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| Long-term borrowings |
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4,153 |
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5,359 |
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| Other interest |
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20 |
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3,910 |
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8,938 |
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17,376 |
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$ 4,751 |
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$ 4,362 |
| In the table above:
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Collateralized agreements includes rebates paid and interest income on securities borrowed. |
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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. |
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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. |
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Collateralized financings consists of repurchase agreements and securities loaned. |
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Short- and long-term borrowings include both secured and unsecured borrowings. |
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Other interest expense includes rebates received on other interest-bearing liabilities and interest expense on customer credit balances. |
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