Bank of New York Mellon Corp

For the period ended Sep 30, 2025. Filed Oct 31, 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.

Sep 30, 2025 · Filed Oct 31, 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
3Q25 vs. · vs.
(dollars in millions) · 3Q25 · 2Q25 · 3Q24 · 2Q25 · 3Q24 · YTD25 · YTD24 · YTD24
Net interest income	$1,236	$1,203	$1,048	3%	18%		$3,598	$3,118	15%
Add: Tax equivalent adjustment	—	1	—	N/M	N/M		1	1	N/M
Net interest income (FTE) – Non-GAAP (a)	$1,236	$1,204	$1,048	3%	18%		$3,599	$3,119	15%
Average interest-earning assets	$374,493	$375,542	$356,934	—%	5%		$368,313	$352,250	5%
Net interest margin	1.31%	1.27%	1.16%	4	bps	15	bps	1.30%	1.16%	14	bps
Net interest margin (FTE) – Non-GAAP (a)	1.31%	1.27%	1.16%	4	bps	15	bps	1.30%	1.16%	14	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 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.

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.

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.

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.

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.

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.

BNY 9

Average balances and interest rates	Quarter ended
Sept. 30, 2025 · June 30, 2025 · Sept. 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	$94,533		$892	3.69%			$99,426	$937		3.73%		$100,611	$1,188	4.62%
Interest-bearing deposits with banks	10,980		81	2.97			11,199	87		3.10		10,559	109	4.15
Federal funds sold and securities purchased under resale agreements (a)	40,885		3,159	30.66			39,522	3,176		32.23		31,183	2,874	36.65
Loans	72,692		1,062	5.80			71,265	1,032		5.81		69,205	1,142	6.57
Securities:
U.S. government obligations	31,754		287	3.59			29,279	265		3.63		28,490	266	3.71
U.S. government agency obligations	61,174		520	3.40			62,874	529		3.36		62,572	511	3.26
Other securities	54,986		499	3.61			54,610	487		3.58		48,647	487	4.00
Total investment securities	147,914		1,306	3.52			146,763	1,281		3.49		139,709	1,264	3.61
Trading securities (b)	7,489		94	5.02			7,367	90		4.84		5,667	75	5.33
Total securities (b)	155,403		1,400	3.59			154,130	1,371		3.56		145,376	1,339	3.68
Total interest-earning assets (b)	$374,493		$6,594	6.98%			$375,542	$6,603		7.03%		$356,934	$6,652	7.40%
Noninterest-earning assets	62,998				63,066				59,463
Total assets	$437,491				$438,608				$416,397
Liabilities and equity
Interest-bearing liabilities:
Interest-bearing deposits	$248,016		$1,813	2.90%			$250,688	$1,840		2.95%		$236,724	$2,271	3.82%
Federal funds purchased and securities sold under repurchase agreements (a)	16,242		2,829	69.11			17,485	2,875		65.95		16,584	2,620	62.85
Trading liabilities	3,333		37	4.40			2,821	35		4.94		1,844	22	4.83
Other borrowed funds	243		2	4.63			432	6		5.06		418	3	3.15
Commercial paper	3,268		38	4.63			2,511	29		4.56		1,474	21	5.50
Payables to customers and broker-dealers	16,434		180	4.34			15,494	162		4.19		12,737	170	5.29
Long-term debt	32,503		459	5.53			31,805	452		5.64		33,154	497	5.93
Total interest-bearing liabilities	$320,039		$5,358	6.64%			$321,236	$5,399		6.74%		$302,935	$5,604	7.36%
Total noninterest-bearing deposits	51,310				49,610				47,962
Other noninterest-bearing liabilities	21,674				24,073				24,122
Total liabilities	393,023				394,919				375,019
Total The Bank of New York Mellon Corporation shareholders’ equity	43,974				43,223				41,115
Noncontrolling interests	494				466				263
Total liabilities and equity	$437,491				$438,608				$416,397
Net interest income (FTE) – Non-GAAP (b)(c)		$1,236				$1,204				$1,048
Net interest margin (FTE) – Non-GAAP (b)(c)			1.31%				1.27%				1.16%
Less: Tax equivalent adjustment		—				1				—
Net interest income – GAAP		$1,236				$1,203				$1,048
Net interest margin – GAAP			1.31%				1.27%				1.16%

(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.

(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
Sept. 30, 2025 · Sept. 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	$93,363		$2,655	3.75%			$101,883	$3,608	4.65%
Interest-bearing deposits with banks	10,757		252	3.14			11,162	340	4.07
Federal funds sold and securities purchased under resale agreements (a)	40,524		9,257	30.54			29,079	7,938	36.46
Loans	71,220		3,093	5.80			67,782	3,322	6.54
Securities:
U.S. government obligations	29,235		782	3.57			28,028	785	3.74
U.S. government agency obligations	62,512		1,568	3.34			62,751	1,534	3.26
Other securities	53,679		1,448	3.60			46,343	1,394	4.02
Total investment securities	145,426		3,798	3.49			137,122	3,713	3.61
Trading securities (b)	7,023		265	5.04			5,222	220	5.64
Total securities (b)	152,449		4,063	3.56			142,344	3,933	3.69
Total interest-earning assets (b)	$368,313		$19,320	7.00%			$352,250	$19,141	7.23%
Noninterest-earning assets	62,414				58,730
Total assets	$430,727				$410,980
Liabilities and equity
Interest-bearing liabilities:
Interest-bearing deposits	$244,416		$5,375	2.94%			$233,843	$6,713	3.83%
Federal funds purchased and securities sold under repurchase agreements (a)	17,092		8,314	65.03			16,809	7,296	57.98
Trading liabilities	2,744		95	4.63			1,728	66	5.11
Other borrowed funds	321		12	5.21			424	15	4.78
Commercial paper	2,360		81	4.58			815	34	5.51
Payables to customers and broker-dealers	15,695		499	4.25			12,409	477	5.13
Long-term debt	31,846		1,345	5.58			31,919	1,421	5.89
Total interest-bearing liabilities	$314,474		$15,721	6.68%			$297,947	$16,022	7.18%
Total noninterest-bearing deposits	49,699				48,955
Other noninterest-bearing liabilities	23,177				23,325
Total liabilities	387,350				370,227
Total The Bank of New York Mellon Corporation shareholders’ equity	42,922				40,585
Noncontrolling interests	455				168
Total liabilities and equity	$430,727				$410,980
Net interest income (FTE) – Non-GAAP (b)(c)		$3,599				$3,119
Net interest margin (FTE) – Non-GAAP (b)(c)			1.30%				1.16%
Less: Tax equivalent adjustment		1				1
Net interest income – GAAP		$3,598				$3,118
Net interest margin – GAAP			1.30%				1.16%

(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.

(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.