| Interest Income and Interest Expense |
Interest income and interest expense Refer to Note 7 of JPMorganChase’s 2025 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) | 2026 | 2025 | 2026 | 2025 | | Interest income | | | | | Loans(a) | $ | 24,541 | | $ | 23,049 | | $ | 48,565 | | $ | 45,469 | | | Taxable securities | 7,206 | | 6,679 | | 14,181 | | 12,671 | | Non-taxable securities(b) | 276 | | 273 | | 558 | | 543 | | Total investment securities(a) | 7,482 | | 6,952 | | 14,739 | | 13,214 | | | Trading assets - debt instruments | 7,445 | | 6,298 | | 14,666 | | 11,855 | | | Federal funds sold and securities purchased under resale agreements | 4,220 | | 4,578 | | 8,405 | | 8,794 | | | Securities borrowed | 2,573 | | 2,211 | | 4,941 | | 4,518 | | | Deposits with banks | 2,351 | | 3,395 | | 4,668 | | 7,534 | | All other interest-earning assets(c) | 2,012 | | 1,758 | | 3,831 | | 3,710 | | | Total interest income | $ | 50,624 | | $ | 48,241 | | $ | 99,815 | | $ | 95,094 | | | Interest expense | | | | | | Interest-bearing deposits | $ | 10,761 | | $ | 11,401 | | $ | 21,045 | | $ | 22,478 | | | Federal funds purchased and securities loaned or sold under repurchase agreements | 6,676 | | 5,965 | | 12,821 | | 11,154 | | | Short-term borrowings | 518 | | 607 | | 1,043 | | 1,142 | | Trading liabilities – debt and all other interest-bearing liabilities(d) | 2,415 | | 2,278 | | 4,678 | | 4,369 | | | Long-term debt | 4,468 | | 4,484 | | 8,810 | | 8,876 | | | Beneficial interest issued by consolidated VIEs | 275 | | 297 | | 541 | | 593 | | | Total interest expense | $ | 25,113 | | $ | 25,032 | | $ | 48,938 | | $ | 48,612 | | | Net interest income | $ | 25,511 | | $ | 23,209 | | $ | 50,877 | | $ | 46,482 | | | Provision for credit losses | 2,515 | | 2,849 | | 5,022 | | 6,154 | | | Net interest income after provision for credit losses | $ | 22,996 | | $ | 20,360 | | $ | 45,855 | | $ | 40,328 | |
(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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