Fee-Based Revenue from Contracts with Customers

9 Months Ended

Sep. 30, 2020

Revenue from Contract with Customer [Abstract]

Fee-Based Revenue from Contracts with Customers

FEE-BASED REVENUE FROM CONTRACTS WITH CUSTOMERS

As more fully described in Note 23 Fee-based Revenue from Contracts with Customers in our 2019 Form 10-K, a subset of our noninterest income relates to certain fee-based revenue within the scope of ASC Topic 606 - Revenue from Contracts with Customers (Topic 606).

Fee-based revenue within the scope of Topic 606 is recognized within three of our reportable business segments, Retail Banking, Corporate & Institutional Banking and Asset Management Group. Topic 606 also excludes interest income, income from lease contracts, fair value gains from financial instruments (including derivatives), income from mortgage servicing rights and guarantee products, letter of credit fees, non-refundable fees associated with acquiring or originating a loan and gains from the sale of financial assets.

The following tables present noninterest income within the scope of Topic 606 disaggregated by segment. A description of the fee-based revenue and how it is recognized for each segment’s principal services and products is included in our 2019 Form 10-K.

Retail Banking

Table 82: Retail Banking Noninterest Income Disaggregation



	Three months ended September 30				Nine months ended September 30
In millions	2020		2019		2020		2019
Product
Deposit account fees	$	108	$	166	$	339	$	468
Debit card fees	136		139		385		399
Brokerage fees	94		92		273		267
Merchant services	40		55		112		159
Net credit card fees (a)	50		50		130		149
Other	62		65		170		193
Total in-scope noninterest income by product	$	490	$	567	$	1,409	$	1,635
Reconciliation to total Retail Banking noninterest income
Total in-scope noninterest income	$	490	$	567	$	1,409	$	1,635
Total out-of-scope noninterest income (b)	183		177		637		361
Total Retail Banking noninterest income	$	673	$	744	$	2,046	$	1,996

(a)

Net credit card fees consists of interchange fees of $121 million and $128 million and credit card reward costs of $71 million and $78 million for the three months ended September 30, 2020 and 2019, respectively. Net credit card fees consists of interchange fees of $341 million and $366 million and credit card reward costs of $211 million and $217 million for the nine months ended September 30, 2020 and 2019, respectively.

(b)

Out-of-scope noninterest income includes revenue streams that fall under the scope of other accounting and disclosure requirements outside of Topic 606.

Corporate & Institutional Banking

Table 83: Corporate & Institutional Banking Noninterest Income Disaggregation



	Three months ended September 30				Nine months ended September 30
In millions	2020		2019		2020		2019
Product
Treasury management fees	$	231	$	210	$	665	$	621
Capital markets fees	132		131		494		407
Commercial mortgage banking activities	31		26		81		75
Other	18		17		55		53
Total in-scope noninterest income by product	$	412	$	384	$	1,295	$	1,156
Reconciliation to total Corporate & Institutional Banking noninterest income
Total in-scope noninterest income	$	412	$	384	$	1,295	$	1,156
Total out-of-scope noninterest income (a)	311		270		848		735
Total Corporate & Institutional Banking noninterest income	$	723	$	654	$	2,143	$	1,891

(a)

Out-of-scope noninterest income includes revenue streams that fall under the scope of other accounting and disclosure requirements outside of Topic 606.

Asset Management Group

Table 84: Asset Management Group Noninterest Income Disaggregation



	Three months ended September 30				Nine months ended September 30
In millions	2020		2019		2020		2019
Customer Type
Personal	$	164	$	155	$	465	$	459
Institutional	51		58		150		187
Total in-scope noninterest income by customer type	$	215	$	213	$	615	$	646
Reconciliation to Asset Management Group noninterest income
Total in-scope noninterest income	$	215	$	213	$	615	$	646
Total out-of-scope noninterest income (a)	6		3		14		73
Total Asset Management Group noninterest income	$	221	$	216	$	629	$	719

(a)

Out-of-scope noninterest income includes revenue streams that fall under the scope of other accounting and disclosure requirements outside of Topic 606.