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Interest Income and Interest Expense
 12 Months Ended
Dec. 31, 2012
Interest Income And Interest Expense  
Interest Income And Interest Expense

17.       Interest Income and Interest Expense.

 

Details of Interest income and Interest expense were as follows:

 

    2012 2011 2010
         
    (dollars in millions)
Interest income(1):      
 Financial instruments owned(2) $ 2,736$ 3,593$ 3,931
 Securities available for sale   343  348  215
 Loans   643  356  315
 Interest bearing deposits with banks   124  186  155
 Federal funds sold and securities purchased under agreements      
   to resell and Securities borrowed  364  886  769
 Other  1,515  1,889  1,920
Total interest income $ 5,725$ 7,258$ 7,305
         
Interest expense(1):      
 Deposits $ 181$ 236$ 310
 Commercial paper and other short-term borrowings   38  41  28
 Long-term debt   4,622  4,912  4,592
 Securities sold under agreements to repurchase       
  and Securities loaned   1,805  1,925  1,591
 Other   (722)  (212)  (114)
Total interest expense $ 5,924$ 6,902$ 6,407
Net interest $ (199)$ 356$ 898

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(1)       Interest income and expense are recorded within the 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 on Financial instruments owned.