Bank of New York Mellon Corp

For the period ended Jun 30, 2025. Filed Aug 1, 2025.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Jun 30, 2025 · Filed Aug 1, 2025

BNY$151.23+2.4%Stored close · as of Nov 9, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

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Contents

Net interest income

Net interest income · YTD25
2Q25 vs. · vs.
(dollars in millions) · 2Q25 · 1Q25 · 2Q24 · 1Q25 · 2Q24 · YTD25 · YTD24 · YTD24
Net interest income	$1,203	$1,159	$1,030	4%	17%		$2,362	$2,070	14%
Add: Tax equivalent adjustment	1	—	1	N/M	N/M		1	1	N/M
Net interest income (FTE) – Non-GAAP (a)	$1,204	$1,159	$1,031	4%	17%		$2,363	$2,071	14%
Average interest-earning assets	$375,542	$354,687	$353,633	6%	6%		$365,172	$349,883	4%
Net interest margin	1.27%	1.30%	1.15%	(3)	bps	12	bps	1.29%	1.17%	12	bps
Net interest margin (FTE) – Non-GAAP (a)	1.27%	1.30%	1.15%	(3)	bps	12	bps	1.29%	1.17%	12	bps

(a) Net interest income (FTE) – Non-GAAP and net interest margin (FTE) – Non-GAAP include the tax equivalent adjustments on tax-exempt income, which allows for comparisons of amounts arising from both taxable and tax-exempt sources and is consistent with industry practice. The adjustment to an FTE basis has no impact on net income.

bps – basis points.

Net interest income increased 17% compared with the second quarter of 2024 and 4% compared with the first quarter of 2025. Both increases primarily reflect the continued reinvestment of maturing investment securities at higher yields and balance sheet growth, partially offset by changes in deposit mix.

Net interest margin increased 12 basis points compared with the second quarter of 2024 and decreased 3 basis points compared with the first quarter of 2025. The changes compared with the second quarter of 2024 and the first quarter of 2025 primarily reflect the factors mentioned above.

Average interest-earning assets increased 6% compared with the second quarter of 2024 and first quarter of 2025. The increase compared with the second quarter of 2024 primarily reflects higher securities balances and federal funds sold and securities purchased under resale agreements, partially offset by lower interest-bearing deposits with the Federal Reserve and other central banks. The increase compared with the first quarter of 2025 primarily reflects higher interest-bearing deposits with the Federal Reserve and other central banks and higher securities balances, partially offset by lower federal funds sold and securities purchased under resale agreements.

Average non-U.S. dollar deposits comprised approximately 25% of our average total deposits in the second quarter of 2025. Approximately 50% of the average non-U.S. dollar deposits in the second quarter of 2025 were euro-denominated.

Net interest income increased 14% compared with the first six months of 2024, primarily driven by the continued reinvestment of maturing investment securities at higher yields and balance sheet growth, partially offset by changes in deposit mix. The increase in the net interest margin primarily reflects the factors mentioned above.

Average interest-earning assets increased 4% compared with the first six months of 2024, primarily reflecting higher federal funds sold and securities purchased under resale agreements and higher securities balances, partially offset by lower interest-bearing deposits with the Federal Reserve and other central banks.

BNY 9

Average balances and interest rates	Quarter ended
June 30, 2025 · March 31, 2025 · June 30, 2024
(dollars in millions; average rates are annualized) · Averagebalance · Interest · Averagerates · Averagebalance · Interest · Averagerates · Average balance · Interest · Average rates
Assets
Interest-earning assets:
Interest-bearing deposits with the Federal Reserve and other central banks	$99,426		$937	3.73%			$86,038	$826		3.84%		$102,257	$1,201	4.65%
Interest-bearing deposits with banks	11,199		87	3.10			10,083	84		3.39		11,210	110	3.91
Federal funds sold and securities purchased under resale agreements (a)	39,522		3,176	32.23			41,166	2,922		28.79		29,013	2,631	36.48
Loans	71,265		1,032	5.81			69,670	999		5.80		68,283	1,119	6.58
Securities:
U.S. government obligations	29,279		265	3.63			26,614	230		3.49		28,347	269	3.82
U.S. government agency obligations	62,874		529	3.36			63,514	519		3.27		62,549	515	3.29
Other securities	54,610		487	3.58			51,403	462		3.62		46,828	472	4.04
Total investment securities	146,763		1,281	3.49			141,531	1,211		3.44		137,724	1,256	3.66
Trading securities (b)	7,367		90	4.84			6,199	81		5.29		5,146	76	5.89
Total securities (b)	154,130		1,371	3.56			147,730	1,292		3.52		142,870	1,332	3.74
Total interest-earning assets (b)	$375,542		$6,603	7.03%			$354,687	$6,123		6.97%		$353,633	$6,393	7.24%
Noninterest-earning assets	63,066				61,157				58,866
Total assets	$438,608				$415,844				$412,499
Liabilities and equity
Interest-bearing liabilities:
Interest-bearing deposits	$250,688		$1,840	2.95%			$234,394	$1,722		2.98%		$235,878	$2,255	3.85%
Federal funds purchased and securities sold under repurchase agreements (a)	17,485		2,875	65.95			17,566	2,610		60.25		17,711	2,433	55.26
Trading liabilities	2,821		35	4.94			2,063	23		4.56		1,689	23	5.43
Other borrowed funds	432		6	5.06			288	4		5.93		351	8	8.61
Commercial paper	2,511		29	4.56			1,279	14		4.51		954	13	5.54
Payables to customers and broker-dealers	15,494		162	4.19			15,142	157		4.21		12,066	161	5.35
Long-term debt	31,805		452	5.64			31,216	434		5.57		31,506	469	5.92
Total interest-bearing liabilities	$321,236		$5,399	6.74%			$301,948	$4,964		6.66%		$300,155	$5,362	7.18%
Total noninterest-bearing deposits	49,610				48,141				48,965
Other noninterest-bearing liabilities	24,073				23,808				22,839
Total liabilities	394,919				373,897				371,959
Total The Bank of New York Mellon Corporation shareholders’ equity	43,223				41,542				40,387
Noncontrolling interests	466				405				153
Total liabilities and equity	$438,608				$415,844				$412,499
Net interest income (FTE) – Non-GAAP (b)(c)		$1,204				$1,159				$1,031
Net interest margin (FTE) – Non-GAAP (b)(c)			1.27%				1.30%				1.15%
Less: Tax equivalent adjustment		1				—				1
Net interest income – GAAP		$1,203				$1,159				$1,030
Net interest margin – GAAP			1.27%				1.30%				1.15%

(a) Includes the average impact of offsetting under enforceable netting agreements of approximately $247 billion for the second quarter of 2025, $224 billion for the first quarter of 2025 and $163 billion for the second quarter of 2024. On a Non-GAAP basis, excluding the impact of offsetting, the yield on federal funds sold and securities purchased under resale agreements would have been 4.45% for the second quarter of 2025, 4.46% for the first quarter of 2025 and 5.51% for the second quarter of 2024. On a Non-GAAP basis, excluding the impact of offsetting, the rate on federal funds purchased and securities sold under repurchase agreements would have been 4.36% for the second quarter of 2025, 4.37% for the first quarter of 2025 and 5.41% for the second quarter of 2024. We believe providing rates excluding the impact of netting is useful to investors as it is more reflective of the actual rates earned and paid.

(b) Average rates were calculated on an FTE basis, at tax rates of approximately 21%.

10 BNY

Average balances and interest rates	Year-to-date
June 30, 2025 · June 30, 2024
(dollars in millions; average rates are annualized) · Average balance · Interest · Average rates · Average balance · Interest · Average rates
Assets
Interest-earning assets:
Interest-bearing deposits with the Federal Reserve and other central banks	$92,769		$1,763	3.78%			$102,526	$2,420	4.67%
Interest-bearing deposits with banks	10,644		171	3.23			11,467	231	4.04
Federal funds sold and securities purchased under resale agreements (a)	40,340		6,098	30.48			28,016	5,064	36.35
Loans	70,472		2,031	5.80			67,063	2,180	6.53
Securities:
U.S. government obligations	27,954		495	3.56			27,794	519	3.76
U.S. government agency obligations	63,192		1,048	3.32			62,842	1,023	3.26
Other securities	53,015		949	3.60			45,178	907	4.02
Total investment securities	144,161		2,492	3.47			135,814	2,449	3.61
Trading securities (b)	6,786		171	5.05			4,997	145	5.82
Total securities (b)	150,947		2,663	3.54			140,811	2,594	3.69
Total interest-earning assets (b)	$365,172		$12,726	7.01%			$349,883	$12,489	7.15%
Noninterest-earning assets	62,117				58,359
Total assets	$427,289				$408,242
Liabilities and equity
Interest-bearing liabilities:
Interest-bearing deposits	$242,586		$3,562	2.96%			$232,387	$4,442	3.84%
Federal funds purchased and securities sold under repurchase agreements (a)	17,525		5,485	63.11			16,922	4,676	55.57
Trading liabilities	2,444		58	4.78			1,669	44	5.27
Other borrowed funds	360		10	5.41			427	12	5.59
Commercial paper	1,899		43	4.55			481	13	5.54
Payables to customers and broker-dealers	15,320		319	4.20			12,244	307	5.04
Long-term debt	31,512		886	5.60			31,296	924	5.87
Total interest-bearing liabilities	$311,646		$10,363	6.70%			$295,426	$10,418	7.08%
Total noninterest-bearing deposits	48,880				49,457
Other noninterest-bearing liabilities	23,941				22,922
Total liabilities	384,467				367,805
Total The Bank of New York Mellon Corporation shareholders’ equity	42,387				40,318
Noncontrolling interests	435				119
Total liabilities and equity	$427,289				$408,242
Net interest income (FTE) – Non-GAAP (b)(c)		$2,363				$2,071
Net interest margin (FTE) – Non-GAAP (b)(c)			1.29%				1.17%
Less: Tax equivalent adjustment		1				1
Net interest income – GAAP		$2,362				$2,070
Net interest margin – GAAP			1.29%				1.17%

(a) Includes the average impact of offsetting under enforceable netting agreements of approximately $236 billion for the first six months of 2025 and $157 billion for the first six months of 2024. On a Non-GAAP basis, excluding the impact of offsetting, the yield on federal funds sold and securities purchased under resale agreements would have been 4.45% for the first six months of 2025 and 5.50% for the first six months of 2024. On a Non-GAAP basis, excluding the impact of offsetting, the rate on federal funds purchased and securities sold under repurchase agreements would have been 4.37% for the first six months of 2025 and 5.40% for the first six months of 2024. We believe providing rates excluding the impact of netting is useful to investors as it is more reflective of the actual rates earned and paid.

(b) Average rates were calculated on an FTE basis, at tax rates of approximately 21%.

BNY 11

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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.