
	Three Months Ended June 30,						Six Months Ended June 30,
	2011			2010			2011			2010
	(dollars in millions)
Interest income(1):
Financial instruments owned(2)	$	926		$	1,059		$	1,845		$	2,190
Securities available for sale		96			55			191			65
Loans		83			70			159			140
Interest bearing deposits with banks		43			42			77			83
Federal funds sold and securities purchased under agreements to resell and Securities borrowed		330			175			605			325
Other		479			346			934			680

Total Interest income	$	1,957		$	1,747		$	3,811		$	3,483

Interest expense(1):
Deposits	$	60		$	78		$	126		$	160
Commercial paper and other short-term borrowings		11			3			18			6
Long-term debt		1,292			1,154			2,604			2,233
Securities sold under agreements to repurchase and Securities loaned		682			423			1,155			708
Other		(16	)		(52	)		(21	)		(133	)

Total Interest expense	$	2,029		$	1,606		$	3,882		$	2,974

Net interest	$	(72	)	$	141		$	(71	)	$	509

(1)

Interest income and expense are recorded within the condensed consolidated statements of income depending on the nature of the instrument and related market conventions. When interest is included as a component of the instrument's fair value, interest is included within Principal transactions—Trading revenues or Principal transactions—Investments revenues. Otherwise, it is included within Interest income or Interest expense.

(2)	Interest expense on Financial instruments sold, not yet purchased is reported as a reduction to Interest income.