Bank of New York Mellon Corp
For the period ended Sep 30, 2025. Filed Oct 31, 2025.
View on SEC.govAbout 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.
Sep 30, 2025 · Filed Oct 31, 2025
BNY$147.72+0.2%Stored close · as of Nov 6, 2026
What changed in Management’s Discussion and Analysis?
Read the current filingPrevious report: 10-Q
Period ended 2025-06-30; filed 2025-08-01.
0001390777-25-000118
Items 2 and 3. Management’s Discussion and Analysis of Financial Condition and Results of Operations; Quantitative and Qualitative Disclosures about Market RiskGeneralOverviewKey and subsequent eventsHighlights of resultsFee and other revenueNet interest incomeNoninterest expenseIncome taxesReview of business segmentsCritical accounting estimatesConsolidated balance sheet reviewLiquidity and dividendsCapitalTrading activities and risk managementAsset/liability managementSupplemental information – Explanation of GAAPRecent accounting and regulatory developmentsWebsite informationConsolidated Income Statement (unaudited)Consolidated Comprehensive Income Statement (unaudited)Consolidated Balance Sheet (unaudited)Consolidated Statement of Cash Flows (unaudited)Consolidated Statement of Changes in Equity (unaudited)Current report: 10-Q
Period ended 2025-09-30; filed 2025-10-31.
0001390777-25-000159
Items 2 and 3. Management’s Discussion and Analysis of Financial Condition and Results of Operations; Quantitative and Qualitative Disclosures about Market RiskGeneralOverviewKey eventsHighlights of resultsFee and other revenueNet interest incomeNoninterest expenseIncome taxesReview of business segmentsCritical accounting estimatesConsolidated balance sheet reviewLiquidity and dividendsCapitalTrading activities and risk managementAsset/liability managementSupplemental information – Explanation of GAAPRecent accounting and regulatory developmentsWebsite informationConsolidated Income Statement (unaudited)Consolidated Comprehensive Income Statement (unaudited)Consolidated Balance Sheet (unaudited)Consolidated Statement of Cash Flows (unaudited)Consolidated Statement of Changes in Equity (unaudited)The baseline is this issuer’s latest earlier reporting period of the same form that was filed before the current report. A previous 10-Q is a different quarter, not a year-over-year comparison. Amendments are excluded.
Compared 974 previous paragraphs and 979 current paragraphs.
675 unchanged; 233 reworded; 54 added; 49 removed; 17 previous and 17 current paragraphs rearranged.
Tables are not compared: 130 previous and 130 current tables excluded. Dates, whitespace, punctuation and numbering changes are ignored; changes to financial figures remain significant.
A changed paragraph is not evidence that risk increased or decreased. An unchanged paragraph does not establish that risk stayed the same.
Added paragraphs (54)
Current report
In July 2025, our Board of Directors approved a 13% increase in the quarterly cash dividend on our common stock, from $0.47 to $0.53 per share. The increased quarterly cash dividend was paid on Aug. 7, 2025.
Current report
•AUC/A of $57.8 trillion increased 11%, primarily reflecting net client inflows and higher market values.
Current report
•AUM of $2.1 trillion was flat reflecting higher market values, partially offset by cumulative net outflows.
Current report
Investment and other revenue increased $12 million compared with the third quarter of 2024 and $24 million compared with the second quarter of 2025. The increase compared with the third quarter of 2024 primarily reflects a disposal gain and other investment gains, partially offset by higher net securities losses. The increase compared with the second quarter of 2025 primarily reflects a disposal gain and higher client activity in our fixed income and equity trading business.
Current report
Investment services fees increased 10% compared with the third quarter of 2024 and were flat compared with the second quarter of 2025. The increase
Current report
Investment management and performance fees decreased 2% compared with the third quarter of 2024 and increased 3% compared with the second quarter of 2025. The decrease compared with the third quarter of 2024 primarily reflects the mix of AUM flows and the adjustment for certain rebates
Current report
Net interest income increased 18% compared with the third quarter of 2024 and 3% compared with the second quarter of 2025. The increase compared with the third quarter of 2024 primarily reflects the continued reinvestment of maturing investment securities at higher yields and balance sheet growth, partially offset by changes in deposit mix. The increase compared with the second quarter of 2025 primarily reflects the continued reinvestment of maturing investment securities at higher yields, partially offset by changes in deposit mix.
Current report
AUC/A of $41.7 trillion increased 11% compared with Sept. 30, 2024, primarily reflecting net client inflows, higher market values and net new business.
Current report
Noninterest expense of $1.7 billion increased 6% compared with the third quarter of 2024 and 2% compared with the second quarter of 2025. The
Current report
AUC/A of $15.8 trillion increased 10% compared with Sept. 30, 2024, primarily reflecting net client inflows and higher market values.
Current report
Pershing revenue of $729 million increased 12% compared with the third quarter of 2024 and
Current report
decreased 1% compared with the second quarter of 2025. The increase compared with the third quarter of 2024 primarily reflects higher net interest income, market values and client activity. The decrease compared with the second quarter of 2025 primarily reflects lower client activity.
Current report
(b) Reflects a change in methodology beginning in the third quarter of 2025 to include assets under advisement.
Current report
Total revenue of $824 million decreased 3% compared with the third quarter of 2024 and increased 3% compared with the second quarter of 2025.
Current report
20 BNY page 19), partially offset by higher market values and the favorable impact of the weaker U.S. dollar. The increase compared with the second quarter of 2025 primarily reflects higher market values.
Current report
increases, higher investments and the unfavorable impact of the weaker U.S. dollar. The decrease compared with the second quarter of 2025 primarily reflects lower severance expense.
Current report
Total revenue decreased $14 million compared with the third quarter of 2024 and increased $20 million
Current report
compared with the second quarter of 2025. The decrease compared with the third quarter of 2024 was primarily driven by higher net securities losses. The increase compared with the second quarter of 2025 primarily reflects gains realized on the sale of real estate.
Current report
Noninterest expense increased $8 million compared with the third quarter of 2024 and $9 million compared with the second quarter of 2025. The increase compared with the third quarter of 2024 was primarily driven by higher staff expense. The
Current report
In September 2025, the Parent issued Series L Noncumulative Perpetual Preferred Stock and redeemed all outstanding shares of its Series G preferred stock. See “Capital” for additional information on the Parent’s preferred stock activity and Note 12 of the Notes to Consolidated Financial Statements for additional information on the Parent’s preferred stock.
Current report
securities, federal funds sold and securities purchased under resale agreements and loans, partially offset by changes in interest-bearing deposits with the Federal Reserve and other central banks.
Current report
Net cash provided by financing activities was $23.8 billion in the nine months ended Sept. 30, 2025, compared with $11.6 billion in the nine months ended Sept. 30, 2024. In the nine months ended Sept. 30, 2025, net cash provided by financing activities primarily resulted from changes in deposits, net proceeds from the issuance of long-term debt and changes in payables to customers and broker-dealers, partially offset by repayments, redemptions and repurchases of long-term debt and common stock repurchases. In the nine months ended Sept. 30, 2024, net cash provided by financing activities primarily resulted from changes in deposits and net proceeds from the issuance of long-term debt, partially offset by repayments, redemptions and repurchases of long-term debt and common stock repurchases.
Current report
In September 2025, the Parent redeemed all outstanding shares of its Series G preferred stock. Also in September 2025, the Parent issued 500,000 depositary shares, each representing a 1/100th interest in a share of the Parent’s Series L Noncumulative Perpetual Preferred Stock. Holders of the Series L preferred stock are entitled to receive dividends, if declared by the Parent’s Board of Directors, on June 20 and December 20 of each year, commencing Dec. 20, 2025.
Current report
common stock, from $0.47 to $0.53 per share. The increased quarterly cash dividend was paid on Aug. 7, 2025.
Current report
(c) Does not foot due to rounding.
Current report
ASU 2024-03, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses
Current report
In November 2024, the FASB issued ASU 2024-03, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses, which requires the disaggregation of specific types of expenses, including, but not limited to, employee compensation, depreciation and intangible asset amortization, to be presented in the Notes to the Consolidated Financial Statements. This ASU also requires the disclosure of the total amount of selling expenses, and on an annual basis, the definition of selling expenses.
Current report
ASU 2025-06, Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software
Current report
In September 2025, the FASB issued ASU 2025-06, Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software, which amends certain aspects of the accounting for, and disclosure of, software costs. This ASU provides guidance on how to evaluate whether it is probable that a project will be completed and the software will be used to perform the function intended (referred to as the ‘probable-to-complete recognition threshold’).
Current report
This ASU is effective for annual reporting periods beginning after Dec. 15, 2027, and interim reporting periods within those annual reporting periods, with early adoption permitted. The guidance allows for either prospective, retrospective or a modified prospective application. BNY is currently evaluating this guidance.
Current report
Federal Reserve Novel Activities Supervisory Program
Current report
On Aug. 15, 2025, the Federal Reserve announced it would sunset its Novel Activities Supervisory Program, which encompassed risk-based monitoring and examination and focus on novel activities related to crypto-assets, distributed ledger technology, and complex, technology-driven partnerships with nonbank providers of banking products and services to customers. This program complemented its existing supervision and oversight of supervised banking organizations. The Federal Reserve Board stated it strengthened its understanding of those activities and is incorporating its understanding into its standard supervisory process. BNY continues to evaluate the impacts of government activity on its
Current report
48 BNY digital asset capabilities, in light of the requirements of all relevant regulators for its subsidiaries and operations.
Current report
Stress Testing Developments
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Removed paragraphs (49)
Previous report
Key second quarter 2025 and subsequent events
Previous report
•AUC/A of $55.8 trillion increased 13%, primarily reflecting client inflows, higher market values and the favorable impact of the weaker U.S. dollar.
Previous report
•AUM of $2.1 trillion increased 3% reflecting higher market values and the favorable impact of the weaker U.S. dollar, partially offset by cumulative net outflows.
Previous report
Investment and other revenue increased $15 million compared with the second quarter of 2024 and decreased $46 million compared with the first quarter of 2025. The increase compared with the second quarter of 2024 primarily reflects favorable seed capital and other investments results, partially offset by higher net securities losses. The decrease compared with the first quarter of 2025 primarily reflects a disposal gain recorded in the first quarter of 2025 and higher net securities losses, partially offset by favorable seed capital results.
Previous report
Investment services fees increased 9% compared with the second quarter of 2024 and 7% compared with the first quarter of 2025. The increase compared with the second quarter of 2024 primarily reflects higher client
Previous report
Investment management and performance fees were flat compared with the second quarter of 2024 and increased 3% compared with the first quarter of 2025. Compared with the second quarter of 2024, investment management and performance fees reflect the mix of AUM flows and the adjustment for certain rebates (offset in noninterest expense), offset by
Previous report
AUC/A of $40.1 trillion increased 12% compared with June 30, 2024, primarily reflecting higher market values, client inflows and the favorable impact of the weaker U.S. dollar.
Previous report
AUC/A of $15.4 trillion increased 15% compared with June 30, 2024, primarily reflecting client inflows and higher market values.
Previous report
Pershing revenue of $739 million increased 11% compared with the second quarter of 2024 and 3% compared with the first quarter of 2025. The increase compared with the second quarter of 2024 primarily reflects higher net interest income, client activity and market values. The increase compared with the first quarter of 2025 primarily reflects higher client activity. Net new assets were $(10) billion in the second quarter of 2025, reflecting the deconversion of a client that was acquired by a self-clearing competitor.
Previous report
Treasury Services revenue of $490 million increased 15% compared with the second quarter of 2024 and 3% compared with the first quarter of 2025. The increase compared with the second quarter of 2024 primarily reflects higher net interest income and net new business. The increase compared with the first quarter of 2025 primarily reflects higher net interest income.
Previous report
Collateral Management revenue of $1.0 billion increased 14%, primarily reflecting higher net interest income, clearance volumes and collateral management balances.
Previous report
Total revenue of $801 million decreased 2% compared with the second quarter of 2024 and increased 3% compared with the first quarter of 2025.
Previous report
20 BNY equity investment income. The increase compared with the first quarter of 2025 primarily reflects higher seed capital gains, equity investment income and the favorable impact of the weaker U.S. dollar, partially offset by the mix of AUM flows.
Previous report
severance expense and the unfavorable impact of the weaker U.S. dollar. The decrease compared with the first quarter of 2025 primarily reflects lower revenue-related expenses and efficiency savings, partially offset by the unfavorable impact of the weaker U.S. dollar.
Previous report
Total revenue decreased $1 million compared with the second quarter of 2024 and $26 million compared with the first quarter of 2025. The decrease compared with the first quarter of 2025 primarily reflects net losses on sales of securities.
Previous report
Noninterest expense increased $21 million compared with the second quarter of 2024 and decreased $52 million compared with the first quarter of 2025. The increase compared with the second quarter of 2024
Previous report
BNY 21 primarily reflects higher staff expense and the net impact of the adjustments to the FDIC special assessment, partially offset by lower litigation reserves. The decrease compared with the first quarter of 2025 primarily reflects lower litigation reserves and severance expense.
Previous report
In the second quarter of 2025, we also performed our annual goodwill impairment test on the remaining six reporting units using an income approach to estimate fair values of each reporting unit. Estimated cash flows used in the income approach were based on management’s projections as of April 1, 2025. The discount rate applied to these cash flows was 10%.
Previous report
As a result of the annual goodwill impairment test, no goodwill impairment was recognized. The fair values of the Company’s remaining six reporting units were substantially in excess of the respective reporting units’ carrying value.
Previous report
In May 2025, Moody’s Ratings (“Moody’s”) announced that it had downgraded the U.S. government’s long-term issuer rating to Aa1 from Aaa and changed the outlook to stable from negative. This ratings action triggered downgrades to certain ratings and assessments for several issuers that had previously incorporated U.S. government support uplift in the ratings and assessments. As a result, the long-term senior unsecured debt ratings and issuer ratings for certain BNY rated bank subsidiaries were downgraded to Aa2 with an outlook of stable from Aa1 with an outlook of negative.
Previous report
In July 2025, our Board of Directors approved a 13% increase in the quarterly cash dividend on our common stock, from $0.47 to $0.53 per share. The increased quarterly cash dividend is expected to be paid on Aug. 7, 2025.
Previous report
Net cash provided by financing activities was $54.4 billion in the six months ended June 30, 2025, compared with $21.0 billion in the six months ended June 30, 2024 and primarily resulted from changes in deposits.
Previous report
In July 2025, our Board of Directors approved a 13% increase in the quarterly cash dividend on our common stock, from $0.47 to $0.53 per share. The increased quarterly cash dividend is expected to be paid on Aug. 7, 2025.
Previous report
Federal Reserve Capital Rule
Previous report
On April 17, 2025, the Federal Reserve proposed to revise its capital plan rule to (1) measure the SCB as the average of the CET1 capital ratio declines in the Supervisory Severely Adverse scenario, as calculated by the Federal Reserve, from the two most recent supervisory stress tests, plus four quarters of planned common stock dividends as a percentage of risk-weighted assets, subject to a 2.5% floor, and (2) extend the annual effective date of the SCB by one quarter, from October 1 to January 1, so that, following the supervisory stress test in a calendar year, new SCBs would generally be effective from January 1 through December 31 of the following calendar year. Although the proposal has not yet been finalized, the Company currently anticipates that the
Previous report
proposal will not have an impact on the Company’s SCB requirement. The Company’s SCB requirement has remained at the 2.5% regulatory floor since the introduction of the SCB requirement in 2020. In June 2025, the Federal Reserve notified BNY that its preliminary SCB requirement would remain at 2.5%, equal to the regulatory floor, for the period from Oct. 1, 2025 through Sept. 30, 2026 under the current capital plan rule.
Previous report
Enhanced Supplementary Leverage Ratio
Previous report
On June 27, 2025, the Federal Reserve, Office of the Comptroller of the Currency, and the Federal Deposit Insurance Corporation jointly proposed changes to the Enhanced Supplementary Leverage Ratio (“eSLR”), LTD and TLAC requirements. The proposed rule would: (i) recalibrate the eSLR buffer over the SLR for G-SIBs from 2% to a buffer equal to 50% of a G-SIB’s method 1 surcharge calculated under the risk-based G-SIB surcharge framework; (ii) change the eSLR requirement over the SLR for G-SIB depository institution subsidiaries from the 6% “well capitalized” threshold under the prompt corrective action framework to a buffer equal to 50% of the G-SIB parent’s method 1 surcharge calculation; (iii) amend the minimum leverage-based LTD requirement for G-SIBs to the sum of the total leverage exposure multiplied by 2.5% and the recalibrated eSLR buffer standard; and (iv) replace the 2% TLAC leverage buffer with a TLAC leverage buffer equal to the recalibrated eSLR buffer standard. BNY is assessing the potential impact of the proposal.
Previous report
EU Sustainability Directives
Previous report
On April 16, 2025, Directive (EU) 2025/794 (“Amending Directive”) was published in the Official Journal of the EU, which (i) delays the application dates for certain sustainability reporting obligations under Directive (EU) 2022/2464 (“CSRD”) for “second wave” companies, including four of BNY’s in-scope EU subsidiaries, by two years to 2028, and (ii) postpones the commencement date for due diligence under Directive (EU) 2024/1760 (“CSDDD”) requirements from July 26, 2027 to July 26, 2028. CSRD requires in-scope companies to disclose information about impacts, risks, and opportunities related to sustainability matters. In its current form, CSDDD will require in-scope entities to comply with sustainability-related due diligence obligations related to their operations and for their upstream chains of activities, and to adopt a transition
Previous report
48 BNY plan for climate change mitigation. BNY continues to assess the impact of the timing changes set out in the Amending Directive, as well as the forthcoming simplification proposals related to CSRD and CSDDD, on its operations.
Previous report
Securities and Exchange Commission (“SEC”) Withdrawal of Proposed Rules
Previous report
On June 12, 2025, the SEC formally withdrew certain of its outstanding proposed rules which may have impacted BNY, including the Safeguarding Advisory Client Assets proposed amendments to the custody rules under the Investment Advisers Act of 1940. Other proposed rules withdrawn include those regarding best execution oversight, cybersecurity risk management, diligence and monitoring of third-party outsourcing by investment advisors, retail order competition, conflicts of interest associated with use of predictive data analytics, and disclosures related to environmental, social and governance investment practices. The SEC noted that it has no current intent to issue final rules with respect to the withdrawn proposed rules and will issue a new proposed rule if it chooses to pursue future regulatory action in these areas. BNY will continue to monitor developments in these areas.
Previous report
(a) Does not include the provision for credit losses related to other financial instruments of $5 million for the quarter ended March 31, 2025.
Previous report
(b) Includes collateral-dependent loans of $279 million with $256 million of collateral value.
Previous report
(b) Includes collateral-dependent loans of $301 million with $265 million of collateral value.
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(a) Loan was modified in July 2025.
Previous report
In the second quarter of 2025, we also performed our annual goodwill impairment test on the remaining reporting units. As result of the annual goodwill impairment test, no goodwill impairment was recognized.
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Reworded paragraphs (233)
Previous wording
(c) Consists of AUC/A primarily from the Asset Servicing line of business and, to a lesser extent, the Clearance and Collateral Management, Issuer Services, Pershing and Wealth Management lines of business. Includes the AUC/A of CIBC Mellon Trust Company (“CIBC Mellon”), a joint venture with the Canadian Imperial Bank of Commerce, of $2.0 trillion at June 30, 2025, $1.9 trillion at March 31, 2025 and $1.7 trillion at June 30, 2024.
Current wording
(c) Consists of AUC/A primarily from the Asset Servicing line of business and, to a lesser extent, the Clearance and Collateral Management, Issuer Services, Pershing and Wealth Management lines of business. Includes the AUC/A of CIBC Mellon Trust Company (“CIBC Mellon”), a joint venture with the Canadian Imperial Bank of Commerce, of $2.1 trillion at Sept. 30, 2025, $2.0 trillion at June 30, 2025 and $1.9 trillion at Sept. 30, 2024.
Previous wording
BNY is a global financial services company that helps make money work for the world – managing it, moving it and keeping it safe. For more than 240 years BNY has partnered alongside clients, putting its expertise and platforms to work to help them achieve their ambitions. Today BNY helps over 90% of Fortune 100 companies and nearly all the top 100 banks globally access the money they need. BNY supports governments in funding local projects and works with over 90% of the top 100 pension plans to safeguard investments for millions of individuals, and so much more. As of June 30, 2025, BNY oversees $55.8 trillion in assets under custody and/or administration and $2.1 trillion in assets under management.
Current wording
BNY is a global financial services company that helps make money work for the world – managing it, moving it and keeping it safe. For more than 240 years BNY has partnered alongside clients, putting its expertise and platforms to work to help them achieve their ambitions. Today BNY helps over 90% of Fortune 100 companies and nearly all the top 100 banks globally access the money they need. BNY supports governments in funding local projects and works with over 90% of the top 100 pension plans to safeguard investments for millions of individuals, and so much more. As of Sept. 30, 2025, BNY oversees $57.8 trillion in assets under custody and/or administration and $2.1 trillion in assets under management.
Previous wording
We reported net income applicable to common shareholders of $1,391 million, or $1.93 per diluted common share, in the second quarter of 2025, including the impact of notable items. Notable items in the second quarter of 2025 include severance expense and reductions in litigation reserves and the Federal Deposit Insurance Corporation (“FDIC”) special assessment. Excluding notable items, net income applicable to common shareholders was $1,397 million (Non-GAAP), or $1.94 (Non-GAAP) per diluted common share, in the second quarter of 2025. Net income applicable to common shareholders was $1,143 million, or $1.52 per diluted common share, in the second quarter of 2024, including the impact of notable items. Notable items in the second quarter of 2024 include a reduction in the FDIC special assessment, severance expense and litigation reserves. Excluding notable items, net income applicable to common shareholders was $1,136 million (Non-GAAP), or $1.51 (Non-GAAP) per diluted common share, in the second quarter of 2024.
Current wording
We reported net income applicable to common shareholders of $1.34 billion, or $1.88 per diluted common share, in the third quarter of 2025, including the impact of notable items. Notable items in the third quarter of 2025 include a disposal gain, severance expense, litigation reserves and a reduction in the Federal Deposit Insurance Corporation (“FDIC”) special assessment. Excluding notable items, net income applicable to common shareholders was $1.36 billion (Non-GAAP), or $1.91 (Non-GAAP) per diluted common share, in the third quarter of 2025. Net income applicable to common shareholders was $1.11 billion, or $1.50 per diluted common share, in the third quarter of 2024, including the impact of notable items. Notable items in the third quarter of 2024 include severance expense, litigation reserves and a reduction in the FDIC special assessment. Excluding notable items, net income applicable to common shareholders was $1.13 billion (Non-GAAP), or $1.52 (Non-GAAP) per diluted common share, in the third quarter of 2024.
Previous wording
The highlights below are based on the second quarter of 2025 compared with the second quarter of 2024, unless otherwise noted.
Current wording
The highlights below are based on the third quarter of 2025 compared with the third quarter of 2024, unless otherwise noted.
Previous wording
•Fee revenue increased 7%, primarily reflecting net new business, higher market values, client activity and foreign exchange revenue, and the favorable impact of the weaker U.S. dollar, partially offset by the mix of AUM flows. (See “Fee and other revenue” beginning on page 6.)
Current wording
•Fee revenue increased 7%, primarily reflecting net new business, higher client activity and market values, and the favorable impact of a weaker U.S. dollar, partially offset by the mix of AUM flows. (See “Fee and other revenue” beginning on page 6.)
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•Investment and other revenue increased primarily reflecting favorable seed capital and other investments results, partially offset by higher net securities losses. (See “Fee and other revenue” beginning on page 6.)
Current wording
•Investment and other revenue increased primarily reflecting a disposal gain and other investment gains, partially offset by higher net securities losses. (See “Fee and other revenue” beginning on page 6.)
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•Net interest income increased 17%, primarily reflecting the continued reinvestment of maturing investment securities at higher yields and balance sheet growth, partially offset by changes in deposit mix. (See “Net interest income” on page 9.)
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•Net interest income increased 18%, primarily reflecting the continued reinvestment of maturing investment securities at higher yields and balance sheet growth, partially offset by changes in deposit mix. (See “Net interest income” on page 9.)
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•The provision for credit losses was a benefit of $17 million, primarily driven by property-specific reserve releases related to our commercial real estate exposure. (See “Allowance for credit losses” on page 29.)
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•The provision for credit losses was a benefit of $7 million, primarily driven by changes in the macroeconomic forecast, partially offset by higher reserves related to commercial real estate exposure. (See “Allowance for credit losses” on page 29.)
Previous wording
•Noninterest expense increased 4%, primarily reflecting higher investments, employee merit increases, higher revenue-related expenses, adjustments to the FDIC special assessment and the unfavorable impact of the weaker U.S. dollar, partially offset by efficiency savings. Excluding notable items, total noninterest expense also increased 4% (Non-GAAP). (See “Noninterest expense” on page 12.)
Current wording
•Noninterest expense increased 4%, primarily reflecting higher investments, employee merit increases, higher revenue-related expenses and the unfavorable impact of the weaker U.S. dollar, partially offset by efficiency savings. Excluding notable items, total noninterest expense also increased 4% (Non-GAAP). (See “Noninterest expense” on page 12.)
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•Effective tax rate of 22.0%. (See “Income taxes” on page 12.)
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•Effective tax rate of 21.3%. (See “Income taxes” on page 12.)
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•Return on common equity (“ROE”) was 14.7% for the second quarter of 2025.
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•Return on common equity (“ROE”) was 13.7% for the third quarter of 2025.
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•Return on tangible common equity (“ROTCE”) was 27.8% (Non-GAAP) for the second quarter of 2025.
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•Return on tangible common equity (“ROTCE”) was 25.6% (Non-GAAP) for the third quarter of 2025.
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•Our CET1 ratio under the Standardized Approach was 11.5% at June 30, 2025, flat compared with March 31, 2025, reflecting an increase in capital, offset by higher risk-weighted assets (“RWA”). (See “Capital” beginning on page 35.)
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•Our CET1 ratio under the Standardized Approach was 11.7% at Sept. 30, 2025 and 11.5% at June 30, 2025. The increase reflects capital generated through earnings and a net increase in accumulated other comprehensive income, partially offset by capital returned through common stock repurchases and dividends, and higher risk-weighted assets (“RWA”). (See “Capital” beginning on page 35.)
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•Our Tier 1 leverage ratio was 6.1% at June 30, 2025 and 6.2% at March 31, 2025. The decrease reflects higher average assets, partially offset by the increase in capital. (See “Capital” beginning on page 35.)
Current wording
•Our Tier 1 leverage ratio was 6.1% at Sept. 30, 2025, a slight increase compared with June 30, 2025. The increase reflects lower average assets. (See “Capital” beginning on page 35.)
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•Returned $1.2 billion to common shareholders, including $895 million of common share repurchases.
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•Returned $1.2 billion to common shareholders, including $849 million of common share repurchases.
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(c) Consists of AUC/A primarily from the Asset Servicing line of business and, to a lesser extent, the Clearance and Collateral Management, Issuer Services, Pershing and Wealth Management lines of business. Includes the AUC/A of CIBC Mellon of $2.0 trillion at June 30, 2025, $1.9 trillion at March 31, 2025 and $1.7 trillion at June 30, 2024.
Current wording
(c) Consists of AUC/A primarily from the Asset Servicing line of business and, to a lesser extent, the Clearance and Collateral Management, Issuer Services, Pershing and Wealth Management lines of business. Includes the AUC/A of CIBC Mellon of $2.1 trillion at Sept. 30, 2025, $2.0 trillion at June 30, 2025 and $1.9 trillion at Sept. 30, 2024.
Previous wording
Fee revenue increased 7% compared with the second quarter of 2024 and first quarter of 2025. The increase compared with the second quarter of 2024 primarily reflects higher investment services fees and foreign exchange revenue. The increase compared with the first quarter of 2025 primarily reflects higher investment services fees, foreign exchange revenue and investment management and performance fees.
Current wording
Fee revenue increased 7% compared with the third quarter of 2024 and was flat compared with the second quarter of 2025. The increase compared with the third quarter of 2024 primarily reflects higher investment services fees and financing-related fees, partially offset by lower investment management and performance fees. Compared with the second quarter of 2025, higher investment management and performance fees and financing-related fees were offset by lower foreign exchange revenue.
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activity and Depositary Receipts revenue, net new business and higher market values. The increase compared with the first quarter of 2025 primarily reflects higher Depositary Receipts revenue and client activity.
Current wording
compared with the third quarter of 2024 primarily reflects higher client activity, net new business and higher market values. Compared with the second quarter of 2025, higher market values and client activity was offset by lower Depositary Receipts revenue.
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AUC/A totaled $55.8 trillion at June 30, 2025, an increase of 13% compared with June 30, 2024, primarily reflecting client inflows, higher market values and the favorable impact of the weaker U.S. dollar. AUC/A consisted of 37% equity securities and 63% fixed income securities at June 30, 2025 and June 30, 2024.
Current wording
AUC/A totaled $57.8 trillion at Sept. 30, 2025, an increase of 11% compared with Sept. 30, 2024, primarily reflecting net client inflows and higher market values. AUC/A consisted of 38% equity securities and 62% fixed income securities at Sept. 30, 2025 and 37% equity securities and 63% fixed income securities at Sept. 30, 2024.
Previous wording
6 BNY higher market values, the favorable impact of a weaker U.S. dollar and higher equity investment income. The increase compared with the first quarter of 2025 primarily reflects higher equity investment income and the favorable impact of a weaker U.S. dollar, partially offset by the mix of AUM flows. Performance fees were $10 million in the second quarter of 2025, $8 million in the second quarter of 2024 and $5 million in the first quarter of 2025. On a constant currency basis, investment management and performance fees decreased 2% (Non-GAAP) compared with the second quarter of 2024. See “Supplemental information – Explanation of GAAP and Non-GAAP financial measures” beginning on page 44 for the reconciliation of Non-GAAP measures.
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(offset in noninterest expense), partially offset by higher market values and the favorable impact of the weaker U.S. dollar. The increase compared with the second quarter of 2025 primarily reflects higher market values. Performance fees were $6 million in the third quarter of 2025, $13 million in the third quarter of 2024 and $10 million in the second quarter of 2025. On a constant currency basis, investment management and performance fees decreased 2% (Non-GAAP) compared with the third quarter of 2024. See “Supplemental information – Explanation of GAAP and Non-GAAP financial measures” beginning on page 44 for the reconciliation of Non-GAAP measures.
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AUM was $2.1 trillion at June 30, 2025, an increase of 3% compared with June 30, 2024, reflecting higher market values and the favorable impact of the weaker U.S. dollar, partially offset by cumulative net outflows.
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AUM was $2.1 trillion at Sept. 30, 2025, flat compared with Sept. 30, 2024, primarily reflecting higher market values, partially offset by cumulative net outflows.
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Foreign exchange revenue is primarily driven by the volume of client transactions and the spread realized on these transactions, both of which are impacted by market volatility, the impact of foreign currency hedging activities and foreign currency remeasurement gain (loss). Foreign exchange revenue increased 16% compared with the second quarter of 2024 and 37% compared with the first quarter of 2025. The increase compared with the second quarter of 2024 primarily reflects higher volatility and volumes, partially offset by corporate treasury activities. The increase compared with the first quarter of 2025 primarily reflects higher volumes and volatility. Foreign exchange revenue is primarily reported in the Securities Services business segment and, to a lesser extent, the Market and Wealth Services and Investment and Wealth Management business segments and the Other segment.
Current wording
Foreign exchange revenue is primarily driven by the volume of client transactions and the spread realized on these transactions, both of which are impacted by market volatility, the impact of foreign currency hedging activities and foreign currency remeasurement gain (loss). Foreign exchange revenue decreased 5% compared with the third quarter of 2024 and 22% compared with the second quarter of 2025. The decrease compared with the third quarter of 2024 primarily reflects the impact of corporate treasury activity, partially offset by higher volumes. The decrease compared with the second quarter of 2025 primarily reflects lower volatility. Foreign exchange revenue is primarily reported in the Securities Services business segment and, to a lesser extent, the Market and Wealth Services and Investment and Wealth Management business segments and the Other segment.
Previous wording
Financing-related fees, which are primarily reported in the Market and Wealth Services and Securities Services business segments, include capital market fees, loan commitment fees and credit-related fees. Financing-related fees decreased 4% compared with the second quarter of 2024 and 15% compared with the first quarter of 2025. The decreases compared with the second quarter of 2024 and first quarter of 2025 primarily reflect lower underwriting fees.
Current wording
Financing-related fees, which are primarily reported in the Market and Wealth Services and Securities Services business segments, include capital market fees, loan commitment fees and credit-related fees. Financing-related fees increased 26% compared with the third quarter of 2024 and 31% compared with the second quarter of 2025. The increases compared with the third quarter of 2024 and second quarter of 2025 primarily reflect higher underwriting fees.
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The increase in total investment and other revenue compared with the second quarter of 2024 primarily reflects favorable seed capital and other investments (primarily renewable energy and corporate/bank-owned life insurance) results, partially offset by higher net securities losses. The decrease compared with the first quarter of 2025 primarily reflects a disposal gain recorded in the first quarter of 2025 and higher net securities losses, partially offset by favorable seed capital results.
Current wording
The increase in total investment and other revenue compared with the third quarter of 2024 primarily reflects a disposal gain and other investment gains (primarily renewable energy and corporate/bank-owned life insurance), partially offset by higher net securities losses. The increase compared with the second quarter of 2025 primarily reflects a disposal gain and higher client activity in our fixed income and equity trading business.
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Fee revenue increased 5% compared with the first six months of 2024, primarily reflecting higher investment services fees and foreign exchange revenue, partially offset by lower investment
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Fee revenue increased 6% compared with the first nine months of 2024, primarily reflecting higher investment services fees and foreign exchange revenue, partially offset by lower investment management and performance fees. The 9% increase in investment services fees primarily reflects higher
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management and performance fees. The 8% increase in investment services fees primarily reflects higher client activity, net new business, higher market values and Depositary Receipts revenue. Investment management and performance fees decreased 3%, primarily reflecting the mix of AUM flows and the adjustment for certain rebates (offset in noninterest expense), partially offset by higher market values. The 10% increase in foreign exchange revenue primarily reflects higher volatility.
Current wording
client activity, net new business, higher market values and higher Depositary Receipts revenue. Investment management and performance fees decreased 2%, primarily reflecting the mix of AUM flows and the adjustment for certain rebates (offset in noninterest expense), partially offset by higher market values and the favorable impact of a weaker U.S. dollar. The 5% increase in foreign exchange revenue primarily reflects higher volatility and volumes.
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Investment and other revenue increased $63 million compared with the first six months of 2024, primarily reflecting a disposal gain recorded in the first quarter of 2025 and higher renewable energy and corporate/bank owned life insurance investment results, partially offset by higher net securities losses.
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Investment and other revenue increased $75 million compared with the first nine months of 2024, primarily reflecting disposal gains recorded in the first nine months of 2025 and other investment gains (primarily renewable energy and corporate/bank-owned life insurance), partially offset by higher net securities losses.
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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.
Current wording
Net interest margin increased 15 basis points compared with the third quarter of 2024 and 4 basis points compared with the second quarter of 2025. The changes compared with the third quarter of 2024 and the second quarter of 2025 primarily reflect the factors mentioned above.
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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.
Current wording
Average interest-earning assets increased 5% compared with the third quarter of 2024 and were flat compared with the second quarter of 2025. The increase compared with the third 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. Compared with the second quarter of 2025, lower interest-bearing deposits with the Federal Reserve and other central banks were offset by higher loans, federal funds sold and securities purchased under resale agreements and securities balances.
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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.
Current wording
Average non-U.S. dollar deposits comprised approximately 25% of our average total deposits in the third quarter of 2025. Approximately 50% of the average non-U.S. dollar deposits in the third quarter of 2025 were euro-denominated.
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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.
Current wording
Net interest income increased 15% compared with the first nine 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.
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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.
Current wording
Average interest-earning assets increased 5% compared with the first nine 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.
Previous wording
(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.
Current wording
(a) Includes the average impact of offsetting under enforceable netting agreements of approximately $241 billion for the third quarter of 2025, $247 billion for the second quarter of 2025 and $179 billion for the third 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 third quarter of 2025, 4.45% for the second quarter of 2025 and 5.43% for the third 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 third quarter of 2025, 4.36% for the second quarter of 2025 and 5.32% for the third 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.
Previous wording
(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.
Current wording
(a) Includes the average impact of offsetting under enforceable netting agreements of approximately $238 billion for the first nine months of 2025 and $165 billion for the first nine 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 nine months of 2025 and 5.47% for the first nine 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 nine months of 2025 and 5.37% for the first nine 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.
Previous wording
Total noninterest expense increased 4% compared with the second quarter of 2024, primarily reflecting higher investments, employee merit increases, higher revenue-related expenses, adjustments to the FDIC special assessment and the unfavorable impact of the weaker U.S. dollar, partially offset by efficiency savings. Excluding notable items, total noninterest expense also increased 4% (Non-GAAP) compared with the second quarter of 2024. Total noninterest expense decreased 1% compared with the first quarter of 2025, primarily reflecting lower staff expense driven by the annual vesting of stock-based awards to retirement-eligible employees recorded in the first quarter of 2025, efficiency savings and lower litigation reserves, partially offset by the unfavorable impact of the weaker U.S. dollar. Excluding notable items, total noninterest expense also decreased 1% (Non-GAAP) compared with the first quarter of 2025.
Current wording
Total noninterest expense increased 4% compared with the third quarter of 2024, primarily reflecting higher investments, employee merit increases, higher revenue-related expenses and the unfavorable impact of the weaker U.S. dollar, partially offset by efficiency savings. Excluding notable items, total noninterest expense also increased 4% (Non-GAAP) compared with the third quarter of 2024. Total noninterest expense increased 1% compared with the second quarter of 2025, primarily reflecting higher investments, litigation reserves and severance expense, partially offset by lower revenue-related expenses and efficiency savings. Excluding notable items, total noninterest expense was flat (Non-GAAP) compared with the second quarter of 2025.
Previous wording
Total noninterest expense increased 3% compared with the first six months of 2024, primarily reflecting higher investments, employee merit increases, higher revenue-related expenses and adjustments to the FDIC special assessment, partially offset by efficiency savings. Excluding notable items, total noninterest expense also increased 3% (Non-GAAP) compared with the first six months of 2024.
Current wording
Total noninterest expense increased 4% compared with the first nine months of 2024, primarily reflecting higher investments, employee merit increases, higher revenue-related expenses and adjustments to the FDIC special assessment, partially offset by efficiency savings. Excluding notable items, total noninterest expense increased 3% (Non-GAAP) compared with the first nine months of 2024.
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BNY recorded an income tax provision of $404 million (22.0% effective tax rate) in the second quarter of 2025. The income tax provision was $357 million (23.4% effective tax rate) in the second quarter of 2024 and $300 million (19.7% effective tax rate) in the first quarter of 2025.
Current wording
BNY recorded an income tax provision of $395 million (21.3% effective tax rate) in the third quarter of 2025. The income tax provision was $336 million (22.0% effective tax rate) in the third quarter of 2024 and $404 million (22.0% effective tax rate) in the second quarter of 2025.
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Business segment results are subject to reclassification when organizational changes are made, or for refinements in revenue and expense allocation methodologies. Refinements are typically reflected on a prospective basis. There were no reclassifications or organizational changes in the second quarter of 2025.
Current wording
Business segment results are subject to reclassification when organizational changes are made, or for refinements in revenue and expense allocation methodologies. Refinements are typically reflected on a prospective basis. There were no reclassifications or organizational changes in the third quarter of 2025.
Previous wording
(c) Consists of AUC/A primarily from the Asset Servicing line of business and, to a lesser extent, the Issuer Services line of business. Includes the AUC/A of CIBC Mellon of $2.0 trillion at June 30, 2025, $1.9 trillion at March 31, 2025, $1.8 trillion at Dec. 31, 2024, $1.9 trillion at Sept. 30, 2024 and $1.7 trillion at June 30, 2024.
Current wording
(c) Consists of AUC/A primarily from the Asset Servicing line of business and, to a lesser extent, the Issuer Services line of business. Includes the AUC/A of CIBC Mellon of $2.1 trillion at Sept. 30, 2025, $2.0 trillion at June 30, 2025, $1.9 trillion at March 31, 2025, $1.8 trillion at Dec. 31, 2024 and $1.9 trillion at Sept. 30, 2024.
Previous wording
(d) Represents the total amount of securities on loan in our agency securities lending program. Excludes securities for which BNY acts as agent on behalf of CIBC Mellon clients, which totaled $68 billion at June 30, 2025, $62 billion at March 31, 2025, $60 billion at Dec. 31, 2024, $67 billion at Sept. 30, 2024 and $66 billion at June 30, 2024.
Current wording
(d) Represents the total amount of securities on loan in our agency securities lending program. Excludes securities for which BNY acts as agent on behalf of CIBC Mellon clients, which totaled $81 billion at Sept. 30, 2025, $68 billion at June 30, 2025, $62 billion at March 31, 2025, $60 billion at Dec. 31, 2024 and $67 billion at Sept. 30, 2024.
Showing the first 40 of 233 pairs. Open the source sections for the rest.
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BNY 21 increase compared with the second quarter of 2025 primarily reflects higher litigation reserves.
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using an income approach based on management’s projections as of Sept. 30, 2025. The discount rate applied to these cash flows was 10%.
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22 BNY increase reflects higher interest-bearing deposits and noninterest-bearing deposits. Total interest-bearing deposits as a percentage of total interest-earning assets were 65% at Sept. 30, 2025 and Dec. 31, 2024.
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Margin loans included $10 billion at Sept. 30, 2025 and $8 billion at Dec. 31, 2024, related to a term loan program that offers fully collateralized loans to broker-dealers.
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paper outstanding at Sept. 30, 2025 and Dec. 31, 2024, respectively. The average commercial paper outstanding was $2.4 billion for the first nine months of 2025 and $815 million for the first nine months of 2024.
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Parent. Average borrowings across these lines were less than $1 million in the third quarter of 2025.
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extent these instruments otherwise would be ineligible only due to containing impermissible acceleration rights or being governed by foreign law.
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the current changes in our own credit spreads, as well as those of our counterparties.
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This ASU is effective on a prospective basis, with a retrospective option, for annual periods beginning after Dec. 15, 2024, and interim periods within fiscal years beginning after Dec. 15, 2025. We do not expect a material impact to our financial statement upon adoption.
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The amortized cost of available-for-sale and held-to-maturity securities is net of the allowance for credit
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(a) Does not include the provision for credit losses benefit related to other financial instruments of $1 million for the quarter ended Sept. 30, 2025.
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(b) The Investment and Wealth Management business segment is net of income attributable to noncontrolling interests related to consolidated investment management funds of $12 million in the third quarter of 2025 and $7 million in the third quarter of 2024.
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(b) The Investment and Wealth Management business segment is net of income attributable to noncontrolling interests related to consolidated investment management funds of $12 million in the second quarter of 2025.
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Series J, Series K and Series L stock to the holders of record of their respective depositary shares.
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German authorities are investigating past “cum/ex” trading, which involved the purchase of equity securities on or shortly before the dividend date, but settled after that date, potentially resulting in an unwarranted refund of withholding tax. German authorities have taken the view that past cum/ex trading may have resulted in tax avoidance or evasion. European subsidiaries of BNY have been informed by German authorities about investigations into potential cum/ex trading by certain third-party investment funds, where one of the subsidiaries had
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(a) Total fee and other revenue, total revenue and income before income taxes are net of income attributable to noncontrolling interests related to consolidated investment management funds of $12 million.
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(a) Total fee and other revenue, total revenue and income before income taxes are net of income attributable to noncontrolling interests related to consolidated investment management funds of $11 million.
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In the second quarter of 2025, due to the results of the first quarter 2025 interim and annual goodwill impairment test and macroeconomic conditions, we performed an interim goodwill impairment test of the
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We also seek to undertake overall liquidity risk, including intraday liquidity risk, that stays within our risk appetite. The objective of our balance sheet
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Margin loan exposure of $20.7 billion at June 30, 2025, compared with $19.1 billion at Dec. 31, 2024
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Pershing LLC has one uncommitted line of credit in place for funding purposes that is guaranteed by the Parent for $300 million. There were no borrowings under this line in the second quarter of 2025.
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primarily resulted from changes in trading assets and liabilities and changes in accruals and other, net, partially offset by earnings.
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In March 2025, the Parent issued 500,000 depositary shares, each representing a 1/100th interest in a share of the Parent’s Series J Noncumulative Perpetual Preferred Stock. Holders of the Series J preferred stock are entitled to receive dividends, if declared by the Parent’s Board of Directors, on March 20 and September 20 of each year, commencing September 20, 2025. The Parent also issued 20,000,000
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External TLAC consists of the Parent’s Tier 1 capital and eligible unsecured LTD issued by it that has a
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BNY 39 risk characteristics. VaR also captures the diversification of aggregated risk at the firm-wide level.
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40 BNY issuer credit default swaps, and securities with exposures from corporate and municipal credit spreads.
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instruments. Trading liabilities were $6.1 billion at June 30, 2025 and $4.9 billion at Dec. 31, 2024.
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all tenors equal to or less than three months. Interim term points are interpolated where applicable. The impact of interest rate shifts may not be linear. The results of this earnings simulation should therefore not be extrapolated for more severe interest rate scenarios than those presented in the table below.
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•All of our SEC filings, including annual reports on Form 10-K, quarterly reports on Form 10-Q,
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In the second quarter of 2025, due to the results of the first quarter 2025 interim and annual goodwill
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All of the outstanding shares of the Series A preferred stock are owned by Mellon Capital IV, a 100% owned finance subsidiary of the Parent, which will
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CIBC Mellon, a joint venture between BNY and the Canadian Imperial Bank of Commerce (“CIBC”), engages in securities lending activities. Generally,
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the indemnification could be covered by the indemnitors.
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terms. The Company continues to cooperate with the CFTC’s inquiry.