Table IIAnalysis of Changes in Net Interest Income - Fully Taxable-equivalent Basis | |||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| From 2002 to 2003 | From 2001 to 2002 | ||||||||||||||||||||
| Due to Change in(1) | Due to Change in(1) | ||||||||||||||||||||
| (Dollars in millions) | Volume | Rate | Net Change |
Volume | Rate | Net Change |
|||||||||||||||
| Increase (decrease) in interest income | |||||||||||||||||||||
| Time deposits placed and other short-term investments | $ | (24 | ) | $ | (47 | ) | $ | (71 | ) | $ | 157 | $ | (232 | ) | $ | (75 | ) | ||||
| Federal funds sold and securities purchased under agreements to resell | 636 | (133 | ) | 503 | 421 | (965 | ) | (544 | ) | ||||||||||||
| Trading account assets | 855 | (722 | ) | 133 | 723 | (516 | ) | 207 | |||||||||||||
| Debt securities | (169 | ) | (708 | ) | (877 | ) | 930 | (591 | ) | 339 | |||||||||||
| Loans and leases: | |||||||||||||||||||||
| Commercial - domestic | (717 | ) | 318 | (399 | ) | (1,759 | ) | (750 | ) | (2,509 | ) | ||||||||||
| Commercial - foreign | (147 | ) | (64 | ) | (211 | ) | (311 | ) | (432 | ) | (743 | ) | |||||||||
| Commercial real estate - domestic | (70 | ) | (123 | ) | (193 | ) | (238 | ) | (419 | ) | (657 | ) | |||||||||
| Commercial real estate - foreign | (4 | ) | (1 | ) | (5 | ) | 5 | (8 | ) | (3 | ) | ||||||||||
| Total commercial | (808 | ) | (3,912 | ) | |||||||||||||||||
| Residential mortgage | 1,976 | (1,527 | ) | 449 | 1,147 | (644 | ) | 503 | |||||||||||||
| Home equity lines | 5 | (178 | ) | (173 | ) | 58 | (470 | ) | (412 | ) | |||||||||||
| Direct/Indirect consumer | 166 | (347 | ) | (181 | ) | (9 | ) | (312 | ) | (321 | ) | ||||||||||
| Consumer finance | (297 | ) | (39 | ) | (336 | ) | (1,390 | ) | 4 | (1,386 | ) | ||||||||||
| Credit card | 697 | (6 | ) | 691 | 538 | (222 | ) | 316 | |||||||||||||
| Foreign consumer | (1 | ) | (5 | ) | (6 | ) | (10 | ) | (43 | ) | (53 | ) | |||||||||
| Total consumer | 444 | (1,353 | ) | ||||||||||||||||||
| Total loans and leases | (364 | ) | (5,265 | ) | |||||||||||||||||
| Other earning assets | 1,032 | (820 | ) | 212 | 2 | (550 | ) | (548 | ) | ||||||||||||
| Total interest income | $ | (464 | ) | $ | (5,886 | ) | |||||||||||||||
| Increase (decrease) in interest expense | |||||||||||||||||||||
| Domestic interest-bearing deposits: | |||||||||||||||||||||
| Savings | 19 | (49 | ) | (30 | ) | 15 | (90 | ) | (75 | ) | |||||||||||
| NOW and money market deposit accounts | 180 | (313 | ) | (133 | ) | 376 | (1,505 | ) | (1,129 | ) | |||||||||||
| Consumer CDs and IRAs | 116 | (300 | ) | (184 | ) | (353 | ) | (532 | ) | (885 | ) | ||||||||||
| Negotiated CDs, public funds and other time deposits | 103 | (101 | ) | 2 | (80 | ) | (82 | ) | (162 | ) | |||||||||||
| Total domestic interest-bearing deposits | (345 | ) | (2,251 | ) | |||||||||||||||||
| Foreign interest-bearing deposits: | |||||||||||||||||||||
| Banks located in foreign countries | (43 | ) | 4 | (39 | ) | (359 | ) | (252 | ) | (611 | ) | ||||||||||
| Governments and official institutions | (2 | ) | (10 | ) | (12 | ) | (54 | ) | (55 | ) | (109 | ) | |||||||||
| Time, savings and other | 4 | (134 | ) | (130 | ) | (148 | ) | (333 | ) | (481 | ) | ||||||||||
| Total foreign interest-bearing deposits | (181 | ) | (1,201 | ) | |||||||||||||||||
| Total interest-bearing deposits | (526 | ) | (3,452 | ) | |||||||||||||||||
| Federal funds purchased, securities sold under agreements | |||||||||||||||||||||
| to repurchase and other short-term borrowings | 877 | (1,015 | ) | (138 | ) | 530 | (2,608 | ) | (2,078 | ) | |||||||||||
| Trading account liabilities | 222 | (197 | ) | 25 | 62 | 44 | 106 | ||||||||||||||
| Long-term debt | 91 | (512 | ) | (421 | ) | (196 | ) | (1,144 | ) | (1,340 | ) | ||||||||||
| Total interest expense | (1,060 | ) | (6,764 | ) | |||||||||||||||||
| Net increase in net interest income | $ | 596 | $ | 878 | |||||||||||||||||
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