| Interest Income and Interest Expense |
Interest income and interest expense Refer to Note 7 of JPMorganChase’s 2024 Form 10-K for a description of JPMorganChase’s accounting policies regarding interest income and interest expense. The following table presents the components of interest income and interest expense. | | | | | | | | | | | | | | | | Three months ended June 30, | Six months ended June 30, | | (in millions) | 2025 | 2024 | 2025 | 2024 | | Interest income | | | | | Loans(a) | $ | 23,049 | | $ | 22,898 | | $ | 45,469 | | $ | 45,772 | | | Taxable securities | 6,679 | | 5,124 | | 12,671 | | 9,995 | | Non-taxable securities(b) | 273 | | 302 | | 543 | | 625 | | Total investment securities(a) | 6,952 | | 5,426 | | 13,214 | | 10,620 | | | Trading assets - debt instruments | 6,298 | | 4,993 | | 11,855 | | 9,585 | | | Federal funds sold and securities purchased under resale agreements | 4,578 | | 4,821 | | 8,794 | | 9,036 | | | Securities borrowed | 2,211 | | 2,177 | | 4,518 | | 4,343 | | | Deposits with banks | 3,395 | | 6,059 | | 7,534 | | 12,445 | | All other interest-earning assets(c) | 1,758 | | 2,139 | | 3,710 | | 4,150 | | | Total interest income | $ | 48,241 | | $ | 48,513 | | $ | 95,094 | | $ | 95,951 | | | Interest expense | | | | | | Interest-bearing deposits | $ | 11,401 | | $ | 12,421 | | $ | 22,478 | | $ | 24,655 | | | Federal funds purchased and securities loaned or sold under repurchase agreements | 5,965 | | 5,108 | | 11,154 | | 9,077 | | | Short-term borrowings | 607 | | 502 | | 1,142 | | 1,037 | | Trading liabilities – debt and all other interest-bearing liabilities(d) | 2,278 | | 2,604 | | 4,369 | | 5,240 | | | Long-term debt | 4,484 | | 4,780 | | 8,876 | | 9,398 | | | Beneficial interest issued by consolidated VIEs | 297 | | 352 | | 593 | | 716 | | | Total interest expense | $ | 25,032 | | $ | 25,767 | | $ | 48,612 | | $ | 50,123 | | | Net interest income | $ | 23,209 | | $ | 22,746 | | $ | 46,482 | | $ | 45,828 | | | Provision for credit losses | 2,849 | | 3,052 | | 6,154 | | 4,936 | | | Net interest income after provision for credit losses | $ | 20,360 | | $ | 19,694 | | $ | 40,328 | | $ | 40,892 | |
(a)Includes the amortization and accretion of purchase premiums and discounts, as well as net deferred fees and costs on loans. (b)Represents securities that are tax-exempt for U.S. federal income tax purposes. (c)Includes interest earned on brokerage-related held-for-investment customer receivables, which are classified in accrued interest and accounts receivable, and all other interest-earning assets which are classified in other assets on the Consolidated balance sheets. (d)All other interest-bearing liabilities includes interest expense on brokerage-related customer payables.
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