| Delaware | 13-2614959 | ||||
| (State or other jurisdiction of incorporation or organization) | (I.R.S. Employer Identification No.) | ||||
| Securities registered pursuant to Section 12(b) of the Act: | ||||||||
Title of each class | Trading symbol(s) | Name of each exchange on which registered | ||||||
| Common Stock, $0.01 par value | BK | New York Stock Exchange | ||||||
6.244% Fixed-to-Floating Rate Normal Preferred Capital Securities of Mellon Capital IV | BK/P | New York Stock Exchange | ||||||
(fully and unconditionally guaranteed by The Bank of New York Mellon Corporation) | ||||||||
| Depositary Shares, each representing a 1/4,000th interest in a share of Series K Noncumulative | BK PRK | New York Stock Exchange | ||||||
| Perpetual Preferred Stock | ||||||||
| Large accelerated filer | ☒ | Accelerated filer | ☐ | |||||||||||||||||
| Non-accelerated filer | ☐ | Smaller reporting company | ☐ | |||||||||||||||||
| Emerging growth company | ☐ | |||||||||||||||||||
| Page | |||||
Consolidated Financial Highlights (unaudited) | |||||
| Part I – Financial Information | |||||
Items 2. and 3. Management’s Discussion and Analysis of Financial Condition and Results of Operations; Quantitative and Qualitative Disclosures about Market Risk: | |||||
Highlights of first quarter 2026 results | |||||
Supplemental information – Explanation of GAAP and Non-GAAP financial measures | |||||
| Item 1. Financial Statements: | |||||
| Page | |||||
| Notes to Consolidated Financial Statements: | |||||
| Part II – Other Information | |||||
| Quarter ended | |||||||||||
| (dollars in millions, except per share amounts and unless otherwise noted) | March 31, 2026 | Dec. 31, 2025 | March 31, 2025 | ||||||||
| Results applicable to common shareholders of The Bank of New York Mellon Corporation: | |||||||||||
| Net income | $ | 1,562 | $ | 1,427 | $ | 1,149 | |||||
| Basic earnings per share | $ | 2.26 | $ | 2.04 | $ | 1.59 | |||||
| Diluted earnings per share | $ | 2.24 | $ | 2.02 | $ | 1.58 | |||||
| Fee and other revenue | $ | 4,039 | $ | 3,833 | $ | 3,633 | |||||
| Net interest income | 1,370 | 1,346 | 1,159 | ||||||||
| Total revenue | $ | 5,409 | $ | 5,179 | $ | 4,792 | |||||
Return on common shareholders’ equity (annualized) | 16.1 | % | 14.5 | % | 12.6 | % | |||||
Return on tangible common shareholders’ equity (annualized) – Non-GAAP (a) | 29.3 | % | 26.6 | % | 24.2 | % | |||||
| Fee revenue as a percentage of total revenue | 70 | % | 71 | % | 71 | % | |||||
| Non-U.S. revenue as a percentage of total revenue | 36 | % | 36 | % | 33 | % | |||||
| Pre-tax operating margin | 37 | % | 36 | % | 32 | % | |||||
| Net interest margin | 1.38 | % | 1.38 | % | 1.30 | % | |||||
Net interest margin on a fully taxable equivalent (“FTE”) basis – Non-GAAP (b) | 1.38 | % | 1.38 | % | 1.30 | % | |||||
Assets under custody and/or administration (“AUC/A”) at period end (in trillions) (c) | $ | 59.4 | $ | 59.3 | $ | 53.1 | |||||
Assets under management (“AUM”) at period end (in trillions) (d) | $ | 2.1 | $ | 2.2 | $ | 2.0 | |||||
Average common shares and equivalents outstanding (in thousands): | |||||||||||
| Basic | 691,178 | 697,540 | 720,951 | ||||||||
| Diluted | 698,164 | 705,140 | 727,398 | ||||||||
| Selected average balances: | |||||||||||
| Interest-earning assets | $ | 396,310 | $ | 387,289 | $ | 354,687 | |||||
| Total assets | $ | 461,928 | $ | 451,213 | $ | 415,844 | |||||
| Interest-bearing deposits | $ | 263,497 | $ | 258,640 | $ | 234,394 | |||||
| Noninterest-bearing deposits | $ | 54,949 | $ | 51,842 | $ | 48,141 | |||||
| Long-term debt | $ | 32,542 | $ | 32,135 | $ | 31,216 | |||||
| Preferred stock | $ | 4,984 | $ | 4,836 | $ | 4,562 | |||||
| Total The Bank of New York Mellon Corporation common shareholders’ equity | $ | 39,448 | $ | 39,142 | $ | 36,980 | |||||
| Other information at period end: | |||||||||||
| Cash dividends per common share | $ | 0.53 | $ | 0.53 | $ | 0.47 | |||||
| Common dividend payout ratio | 24 | % | 26 | % | 30 | % | |||||
Common dividend yield (annualized) | 1.8 | % | 1.8 | % | 2.3 | % | |||||
| Closing stock price per common share | $ | 118.63 | $ | 116.09 | $ | 83.87 | |||||
| Market capitalization | $ | 81,425 | $ | 79,897 | $ | 60,003 | |||||
| Book value per common share | $ | 57.48 | $ | 57.36 | $ | 52.82 | |||||
Tangible book value per common share – Non-GAAP (a) | $ | 31.75 | $ | 31.64 | $ | 28.20 | |||||
| Full-time employees | 47,200 | 48,100 | 51,000 | ||||||||
Common shares outstanding (in thousands) | 686,379 | 688,236 | 715,434 | ||||||||
| Regulatory capital and other ratios | March 31, 2026 | Dec. 31, 2025 | ||||||
| Average liquidity coverage ratio (“LCR”) | 111 | % | 112 | % | ||||
| Average net stable funding ratio (“NSFR”) | 131 | % | 130 | % | ||||
Regulatory capital ratios: (e) | ||||||||
| Advanced Approaches: | ||||||||
| Common Equity Tier 1 (“CET1”) ratio | 12.7 | % | 13.0 | % | ||||
| Tier 1 capital ratio | 15.9 | 16.0 | ||||||
| Total capital ratio | 16.6 | 16.7 | ||||||
| Standardized Approach: | ||||||||
| CET1 ratio | 11.0 | % | 11.9 | % | ||||
| Tier 1 capital ratio | 13.8 | 14.6 | ||||||
| Total capital ratio | 14.6 | 15.4 | ||||||
| Tier 1 leverage ratio | 6.0 | % | 6.0 | % | ||||
| Supplementary leverage ratio (“SLR”) | 6.6 | 6.7 | ||||||
| BNY shareholders’ equity to total assets ratio | 8.0 | % | 9.4 | % | ||||
| BNY common shareholders’ equity to total assets ratio | 7.0 | 8.4 | ||||||
| Part I – Financial Information | ||
| Items 2. and 3. Management’s Discussion and Analysis of Financial Condition and Results of Operations; Quantitative and Qualitative Disclosures about Market Risk | ||
| The Bank of New York Mellon Corporation | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Securities Services | Market and Wealth Services | Investment and Wealth Management | ||||||||||||||||||||||||||||||||||||||||||||||||
| Asset Servicing | Wealth Solutions | Investment Management | ||||||||||||||||||||||||||||||||||||||||||||||||
| Issuer Services | Payments and Trade | Wealth Management | ||||||||||||||||||||||||||||||||||||||||||||||||
| Clearance and Collateral Management | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Fee and other revenue | % | ||||||||||
| (dollars in millions, unless otherwise noted) | 1Q26 | 1Q25 | change | ||||||||
| Investment services fees | $ | 2,652 | $ | 2,411 | 10 | % | |||||
Investment management and performance fees (a) | 785 | 739 | 6 | ||||||||
| Foreign exchange revenue | 232 | 156 | 49 | ||||||||
| Financing-related fees | 62 | 60 | 3 | ||||||||
| Distribution and servicing fees | 37 | 37 | — | ||||||||
| Total fee revenue | 3,768 | 3,403 | 11 | ||||||||
| Investment and other revenue | 271 | 230 | N/M | ||||||||
| Total fee and other revenue | $ | 4,039 | $ | 3,633 | 11 | % | |||||
| Fee revenue as a percentage of total revenue | 70 | % | 71 | % | |||||||
AUC/A at period end (in trillions) (b) | $ | 59.4 | $ | 53.1 | 12 | % | |||||
AUM at period end (in billions) (c) | $ | 2,126 | $ | 2,008 | 6 | % | |||||
| Investment and other revenue | ||||||||
| (in millions) | 1Q26 | 1Q25 | ||||||
| Income (loss) from consolidated investment management funds | $ | (6) | $ | 6 | ||||
Seed capital gains (losses) (a) | (3) | (6) | ||||||
| Other trading revenue | 94 | 71 | ||||||
| Renewable energy investments gains | 44 | 15 | ||||||
| Corporate/bank-owned life insurance | 48 | 38 | ||||||
Other investments gains (losses) (b) | 108 | 24 | ||||||
| Disposal gains (losses) | — | 40 | ||||||
| Expense reimbursements from joint venture | 32 | 31 | ||||||
| Other income | 4 | 11 | ||||||
| Net investment securities gains (losses) | (50) | — | ||||||
| Total investment and other revenue | $ | 271 | $ | 230 | ||||
| Net interest income | % | ||||||||||
| (dollars in millions) | 1Q26 | 1Q25 | change | ||||||||
| Net interest income | $ | 1,370 | $ | 1,159 | 18% | ||||||
| Add: Tax equivalent adjustment | — | — | N/M | ||||||||
Net interest income (FTE) – Non-GAAP (a) | $ | 1,370 | $ | 1,159 | 18% | ||||||
Average interest-earning assets | $ | 396,310 | $ | 354,687 | 12% | ||||||
| Net interest margin | 1.38 | % | 1.30 | % | 8 | bps | |||||
Net interest margin (FTE) – Non-GAAP (a) | 1.38 | % | 1.30 | % | 8 | bps | |||||
| Average balances and interest rates | Quarter ended | ||||||||||||||||||||||
| March 31, 2026 | March 31, 2025 | ||||||||||||||||||||||
| (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 | $ | 97,886 | $ | 781 | 3.19 | % | $ | 86,038 | $ | 826 | 3.84 | % | |||||||||||
| Interest-bearing deposits with banks | 12,049 | 68 | 2.30 | 10,083 | 84 | 3.39 | |||||||||||||||||
Federal funds sold and securities purchased under resale agreements (a) | 42,848 | 2,567 | 24.29 | 41,166 | 2,922 | 28.79 | |||||||||||||||||
| Investment securities: | |||||||||||||||||||||||
| U.S. government obligations | 34,521 | 299 | 3.50 | 26,614 | 230 | 3.49 | |||||||||||||||||
| U.S. government agency obligations | 63,975 | 526 | 3.29 | 63,514 | 519 | 3.27 | |||||||||||||||||
| Other securities | 55,405 | 473 | 3.45 | 51,403 | 462 | 3.62 | |||||||||||||||||
| Total investment securities | 153,901 | 1,298 | 3.39 | 141,531 | 1,211 | 3.44 | |||||||||||||||||
Trading securities (b) | 8,568 | 90 | 4.26 | 6,199 | 81 | 5.29 | |||||||||||||||||
| Loans | 81,058 | 1,020 | 5.09 | 69,670 | 999 | 5.80 | |||||||||||||||||
Total interest-earning assets (b) | $ | 396,310 | $ | 5,824 | 5.94 | % | $ | 354,687 | $ | 6,123 | 6.97 | % | |||||||||||
| Noninterest-earning assets | 65,618 | 61,157 | |||||||||||||||||||||
| Total assets | $ | 461,928 | $ | 415,844 | |||||||||||||||||||
| Liabilities and equity | |||||||||||||||||||||||
| Interest-bearing liabilities: | |||||||||||||||||||||||
| Interest-bearing deposits | $ | 263,497 | $ | 1,554 | 2.39 | % | $ | 234,394 | $ | 1,722 | 2.98 | % | |||||||||||
Federal funds purchased and securities sold under repurchase agreements (a) | 19,457 | 2,298 | 47.90 | 17,566 | 2,610 | 60.25 | |||||||||||||||||
| Trading liabilities | 2,565 | 27 | 4.17 | 2,063 | 23 | 4.56 | |||||||||||||||||
| Payables to customers and broker-dealers | 17,636 | 151 | 3.47 | 15,142 | 157 | 4.21 | |||||||||||||||||
| Commercial paper | 1,945 | 19 | 3.97 | 1,279 | 14 | 4.51 | |||||||||||||||||
| Other borrowed funds | 325 | 4 | 5.01 | 288 | 4 | 5.93 | |||||||||||||||||
| Long-term debt | 32,542 | 401 | 4.93 | 31,216 | 434 | 5.57 | |||||||||||||||||
| Total interest-bearing liabilities | $ | 337,967 | $ | 4,454 | 5.34 | % | $ | 301,948 | $ | 4,964 | 6.66 | % | |||||||||||
| Total noninterest-bearing deposits | 54,949 | 48,141 | |||||||||||||||||||||
| Other noninterest-bearing liabilities | 24,116 | 23,808 | |||||||||||||||||||||
| Total liabilities | 417,032 | 373,897 | |||||||||||||||||||||
| Total The Bank of New York Mellon Corporation shareholders’ equity | 44,432 | 41,542 | |||||||||||||||||||||
| Noncontrolling interests | 464 | 405 | |||||||||||||||||||||
| Total liabilities and equity | $ | 461,928 | $ | 415,844 | |||||||||||||||||||
Net interest income (FTE) – Non-GAAP (b)(c) | $ | 1,370 | $ | 1,159 | |||||||||||||||||||
Net interest margin (FTE) – Non-GAAP (b)(c) | 1.38 | % | 1.30 | % | |||||||||||||||||||
| Less: Tax equivalent adjustment | — | — | |||||||||||||||||||||
| Net interest income – GAAP | $ | 1,370 | $ | 1,159 | |||||||||||||||||||
| Net interest margin – GAAP | 1.38 | % | 1.30 | % | |||||||||||||||||||
| Noninterest expense | % | ||||||||||
| (dollars in millions) | 1Q26 | 1Q25 | change | ||||||||
| Staff | $ | 1,888 | $ | 1,834 | 3 | % | |||||
| Software and equipment | 556 | 513 | 8 | ||||||||
| Professional, legal and other purchased services | 388 | 366 | 6 | ||||||||
| Sub-custodian and clearing | 151 | 131 | 15 | ||||||||
| Net occupancy | 123 | 136 | (10) | ||||||||
| Distribution and servicing | 73 | 65 | 12 | ||||||||
| Business development | 50 | 48 | 4 | ||||||||
| Bank assessment charges | 24 | 38 | N/M | ||||||||
| Amortization of intangible assets | 9 | 11 | (18) | ||||||||
| Other | 138 | 110 | 25 | ||||||||
| Total noninterest expense | $ | 3,400 | $ | 3,252 | 5 | % | |||||
| Full-time employees at period-end | 47,200 | 51,000 | (7) | % | |||||||
| (dollars in millions, unless otherwise noted) | % | ||||||||||
| 1Q26 | 1Q25 | change | |||||||||
| Revenue: | |||||||||||
| Investment services fees: | |||||||||||
Asset Servicing (a) | $ | 1,170 | $ | 1,050 | 11 | % | |||||
| Issuer Services | 278 | 267 | 4 | ||||||||
| Total investment services fees | 1,448 | 1,317 | 10 | ||||||||
| Foreign exchange revenue | 196 | 136 | 44 | ||||||||
Other fees (b) | 74 | 65 | 14 | ||||||||
| Total fee revenue | 1,718 | 1,518 | 13 | ||||||||
| Investment and other revenue | 203 | 140 | N/M | ||||||||
| Total fee and other revenue | 1,921 | 1,658 | 16 | ||||||||
| Net interest income | 757 | 630 | 20 | ||||||||
| Total revenue | 2,678 | 2,288 | 17 | ||||||||
| Provision for credit losses | (11) | 8 | N/M | ||||||||
Noninterest expense (a) | 1,648 | 1,569 | 5 | ||||||||
Income before income taxes (a) | $ | 1,041 | $ | 711 | 46 | % | |||||
Pre-tax operating margin (a) | 39 | % | 31 | % | |||||||
Securities lending revenue (c) | $ | 72 | $ | 52 | 38 | % | |||||
Total revenue by line of business: | |||||||||||
| Asset Servicing | $ | 2,170 | $ | 1,774 | 22 | % | |||||
| Issuer Services | 508 | 514 | (1) | ||||||||
| Total revenue by line of business | $ | 2,678 | $ | 2,288 | 17 | % | |||||
Selected average balances: | |||||||||||
| Average loans | $ | 12,265 | $ | 11,347 | 8 | % | |||||
Average deposits (a) | $ | 197,789 | $ | 175,853 | 12 | % | |||||
Selected metrics: | |||||||||||
AUC/A at period end (in trillions) (a)(d) | $ | 42.7 | $ | 37.9 | 13 | % | |||||
Market value of securities on loan at period end (in billions) (e) | $ | 629 | $ | 504 | 25 | % | |||||
Issuer Services: | |||||||||||
Total debt serviced at period end (in trillions) | $ | 15.0 | $ | 13.9 | 8 | % | |||||
| Number of Depositary Receipts programs at period end | 1,632 | 1,576 | 4 | % | |||||||
| (dollars in millions, unless otherwise noted) | % | ||||||||||
| 1Q26 | 1Q25 | change | |||||||||
| Revenue: | |||||||||||
| Investment services fees: | |||||||||||
Wealth Solutions (a) | $ | 544 | $ | 515 | 6 | % | |||||
| Payments and Trade | 220 | 209 | 5 | ||||||||
| Clearance and Collateral Management | 430 | 362 | 19 | ||||||||
| Total investment services fees | 1,194 | 1,086 | 10 | ||||||||
| Foreign exchange revenue | 36 | 29 | 24 | ||||||||
Other fees (b) | 70 | 65 | 8 | ||||||||
| Total fee revenue | 1,300 | 1,180 | 10 | ||||||||
| Investment and other revenue | 21 | 21 | N/M | ||||||||
| Total fee and other revenue | 1,321 | 1,201 | 10 | ||||||||
| Net interest income | 571 | 497 | 15 | ||||||||
| Total revenue | 1,892 | 1,698 | 11 | ||||||||
| Provision for credit losses | (6) | 4 | N/M | ||||||||
Noninterest expense (a) | 937 | 881 | 6 | ||||||||
Income before income taxes (a) | $ | 961 | $ | 813 | 18 | % | |||||
Pre-tax operating margin (a) | 51 | % | 48 | % | |||||||
Total revenue by line of business: | |||||||||||
Wealth Solutions (a) | $ | 783 | $ | 731 | 7 | % | |||||
| Payments and Trade | 545 | 477 | 14 | ||||||||
| Clearance and Collateral Management | 564 | 490 | 15 | ||||||||
| Total revenue by line of business | $ | 1,892 | $ | 1,698 | 11 | % | |||||
Selected average balances: | |||||||||||
| Average loans | $ | 52,921 | $ | 42,986 | 23 | % | |||||
Average deposits (a) | $ | 103,043 | $ | 91,906 | 12 | % | |||||
Selected metrics: | |||||||||||
AUC/A at period end (in trillions) (a)(c) | $ | 16.5 | $ | 14.9 | 11 | % | |||||
Wealth Solutions (formerly Pershing): | |||||||||||
AUC/A at period end (in trillions) (a) | $ | 3.3 | $ | 2.9 | 14 | % | |||||
Net new assets (U.S. platform) (in billions) (d) | $ | 22 | $ | 11 | N/M | ||||||
Daily average revenue trades (“DARTs”) (U.S. platform) (in thousands) | 352 | 298 | 18 | % | |||||||
Average active clearing accounts (in thousands) | 8,601 | 8,406 | 2 | % | |||||||
Payments and Trade: | |||||||||||
| Average daily U.S. dollar payment volumes | 257,960 | 244,673 | 5 | % | |||||||
Clearance and Collateral Management: | |||||||||||
Average collateral balances (in billions) | $ | 7,783 | $ | 6,576 | 18 | % | |||||
| % | |||||||||||
| (dollars in millions) | 1Q26 | 1Q25 | change | ||||||||
| Revenue: | |||||||||||
| Investment management fees | $ | 785 | $ | 735 | 7 | % | |||||
| Performance fees | 1 | 5 | N/M | ||||||||
Investment management and performance fees (a) | 786 | 740 | 6 | ||||||||
| Distribution and servicing fees | 70 | 68 | 3 | ||||||||
Other fees (b) | (83) | (75) | N/M | ||||||||
| Total fee revenue | 773 | 733 | 5 | ||||||||
Investment and other revenue (c) | (1) | 5 | N/M | ||||||||
| Total fee and other revenue | 772 | 738 | 5 | ||||||||
| Net interest income | 53 | 41 | 29 | ||||||||
| Total revenue | 825 | 779 | 6 | ||||||||
| Provision for credit losses | 9 | 2 | N/M | ||||||||
| Noninterest expense | 726 | 714 | 2 | ||||||||
| Income before income taxes | $ | 90 | $ | 63 | 43 | % | |||||
| Pre-tax operating margin | 11 | % | 8 | % | |||||||
Total revenue by line of business: | |||||||||||
| Investment Management | $ | 550 | $ | 518 | 6 | % | |||||
| Wealth Management | 275 | 261 | 5 | ||||||||
| Total revenue by line of business | $ | 825 | $ | 779 | 6 | % | |||||
Selected average balances: | |||||||||||
| Average loans | $ | 14,233 | $ | 13,537 | 5 | % | |||||
| Average deposits | $ | 9,592 | $ | 9,917 | (3) | % | |||||
| AUM trends | 1Q26 vs. | |||||||||||||||||||||||||
| (dollars in billions) | 1Q26 | 4Q25 | 3Q25 | 2Q25 | 1Q25 | 4Q25 | 1Q25 | |||||||||||||||||||
AUM by product type: (a) | ||||||||||||||||||||||||||
| Equity | $ | 172 | $ | 179 | $ | 180 | $ | 168 | $ | 156 | (4) | % | 10 | % | ||||||||||||
| Fixed income | 261 | 262 | 257 | 248 | 234 | — | 12 | |||||||||||||||||||
| Index | 497 | 517 | 512 | 488 | 470 | (4) | 6 | |||||||||||||||||||
| Liability-driven investments | 530 | 539 | 537 | 588 | 549 | (2) | (3) | |||||||||||||||||||
| Multi-asset and alternative investments | 181 | 186 | 181 | 173 | 167 | (3) | 8 | |||||||||||||||||||
| Cash | 485 | 495 | 475 | 441 | 432 | (2) | 12 | |||||||||||||||||||
| Total AUM | $ | 2,126 | $ | 2,178 | $ | 2,142 | $ | 2,106 | $ | 2,008 | (2) | % | 6 | % | ||||||||||||
Changes in AUM: (a) | ||||||||||||||||||||||||||
| Beginning balance of AUM | $ | 2,178 | $ | 2,142 | $ | 2,106 | $ | 2,008 | $ | 2,029 | ||||||||||||||||
| Net inflows (outflows): | ||||||||||||||||||||||||||
| Long-term strategies: | ||||||||||||||||||||||||||
| Equity | (4) | (4) | (8) | (3) | (3) | |||||||||||||||||||||
| Fixed income | 3 | 5 | 7 | 5 | 2 | |||||||||||||||||||||
| Liability-driven investments | 1 | (15) | (23) | — | 1 | |||||||||||||||||||||
| Multi-asset and alternative investments | — | (1) | (1) | (4) | (2) | |||||||||||||||||||||
| Total long-term active strategies inflows (outflows) | — | (15) | (25) | (2) | (2) | |||||||||||||||||||||
| Index | (7) | (8) | (8) | (22) | (11) | |||||||||||||||||||||
| Total long-term strategies (outflows) | (7) | (23) | (33) | (24) | (13) | |||||||||||||||||||||
| Short-term strategies: | ||||||||||||||||||||||||||
| Cash | (10) | 20 | 34 | 7 | (5) | |||||||||||||||||||||
| Total net inflows (outflows) | (17) | (3) | 1 | (17) | (18) | |||||||||||||||||||||
| Net market impact | (23) | 40 | 30 | 70 | (25) | |||||||||||||||||||||
| Net currency impact | (12) | (1) | (10) | 45 | 22 | |||||||||||||||||||||
| Other | — | — | 15 | (b) | — | — | ||||||||||||||||||||
| Ending balance of AUM | $ | 2,126 | $ | 2,178 | $ | 2,142 | $ | 2,106 | $ | 2,008 | (2) | % | 6 | % | ||||||||||||
Wealth Management client assets (c) | $ | 339 | $ | 350 | $ | 348 | $ | 339 | $ | 327 | (3) | % | 4 | % | ||||||||||||
| (in millions) | 1Q26 | 1Q25 | ||||||
| Fee revenue | $ | (23) | $ | (28) | ||||
| Investment and other revenue | 50 | 62 | ||||||
| Total fee and other revenue | 27 | 34 | ||||||
| Net interest income (expense) | (11) | (9) | ||||||
| Total revenue | 16 | 25 | ||||||
| Provision for credit losses | 1 | 4 | ||||||
| Noninterest expense | 89 | 88 | ||||||
| (Loss) before income taxes | $ | (74) | $ | (67) | ||||
| Average loans | $ | 1,639 | $ | 1,800 | ||||
Critical accounting estimates | Reference | ||||
| Allowance for credit losses | 2025 Annual Report, pages 22-23, and “Allowance for credit losses.” | ||||
| Goodwill and other intangibles | 2025 Annual Report, pages 23-24. Also see below. | ||||
| Litigation and regulatory contingencies | “Legal proceedings” in Note 15 of the Notes to Consolidated Financial Statements. | ||||
Country risk exposure at March 31, 2026 | Interest-bearing deposits | Total exposure | |||||||||||||||||||||||||||||||||
| (in billions) | Central banks | Banks | Lending (a) | Investment securities (b) | Other (c) | ||||||||||||||||||||||||||||||
| Top 10 country exposure: | |||||||||||||||||||||||||||||||||||
| United Kingdom (“UK”) | $ | 12.1 | $ | 0.6 | $ | 2.1 | $ | 7.0 | $ | 2.6 | $ | 24.4 | |||||||||||||||||||||||
| Germany | 16.7 | 0.4 | 0.7 | 3.7 | 0.2 | 21.7 | |||||||||||||||||||||||||||||
| Japan | 6.3 | 0.6 | 0.1 | 0.5 | 0.3 | 7.8 | |||||||||||||||||||||||||||||
| Canada | — | 1.1 | 0.3 | 4.1 | 2.0 | 7.5 | |||||||||||||||||||||||||||||
| Netherlands | 1.3 | — | 0.5 | 3.2 | 0.3 | 5.3 | |||||||||||||||||||||||||||||
| Luxembourg | 0.2 | 0.5 | 1.5 | — | 2.9 | 5.1 | |||||||||||||||||||||||||||||
| Belgium | 1.4 | 1.9 | 0.1 | 1.3 | 0.1 | 4.8 | |||||||||||||||||||||||||||||
| South Korea | 0.1 | 0.3 | 2.4 | 0.2 | 1.2 | 4.2 | |||||||||||||||||||||||||||||
| Ireland | 0.1 | 0.2 | 0.9 | — | 2.6 | 3.8 | |||||||||||||||||||||||||||||
| Australia | — | 1.4 | 0.4 | 1.0 | 0.6 | 3.4 | |||||||||||||||||||||||||||||
| Total Top 10 country exposure | $ | 38.2 | $ | 7.0 | $ | 9.0 | $ | 21.0 | $ | 12.8 | $ | 88.0 | (d) | ||||||||||||||||||||||
| Select country exposure: | |||||||||||||||||||||||||||||||||||
| Brazil | $ | — | $ | — | $ | 1.1 | $ | 0.1 | $ | 0.4 | $ | 1.6 | |||||||||||||||||||||||
| Russia | — | 1.4 | (e) | — | — | — | 1.4 | ||||||||||||||||||||||||||||
| Investment securities portfolio | Dec. 31, 2025 | 1Q26 change in unrealized gain (loss) | March 31, 2026 | Fair value as a % of amortized cost (a) | Unrealized gain (loss) | % Floating rate (b) | Ratings (c) | |||||||||||||||||||||||||||||||||||||
| BBB+/ BBB- | BB+ and lower | |||||||||||||||||||||||||||||||||||||||||||
| (dollars in millions) | Fair value | Amortized cost (a) | Fair value | AAA/ AA- | A+/ A- | Not rated | ||||||||||||||||||||||||||||||||||||||
| Agency RMBS | $ | 45,383 | $ | (232) | $ | 51,648 | $ | 49,103 | 95 | % | $ | (2,545) | 23 | % | 100 | % | — | % | — | % | — | % | — | % | ||||||||||||||||||||
| U.S. Treasury | 33,386 | (142) | 35,990 | 35,783 | 99 | (207) | 38 | 100 | — | — | — | — | ||||||||||||||||||||||||||||||||
Non-U.S. government (d) | 34,224 | (237) | 33,695 | 33,435 | 99 | (260) | 24 | 84 | 16 | — | — | — | ||||||||||||||||||||||||||||||||
| Agency commercial mortgage-backed securities (“MBS”) | 9,600 | 5 | 9,603 | 9,380 | 98 | (223) | 45 | 100 | — | — | — | — | ||||||||||||||||||||||||||||||||
Foreign covered bonds (e) | 8,806 | (36) | 8,761 | 8,707 | 99 | (54) | 38 | 100 | — | — | — | — | ||||||||||||||||||||||||||||||||
| Collateralized loan obligations | 7,958 | (12) | 8,349 | 8,337 | 100 | (12) | 100 | 100 | — | — | — | — | ||||||||||||||||||||||||||||||||
| U.S. government agencies | 4,029 | (7) | 4,176 | 4,003 | 96 | (173) | 27 | 100 | — | — | — | — | ||||||||||||||||||||||||||||||||
| Non-agency commercial MBS | 2,196 | (2) | 2,180 | 2,094 | 96 | (86) | 45 | 100 | — | — | — | — | ||||||||||||||||||||||||||||||||
| Non-agency RMBS | 1,515 | (2) | 1,645 | 1,529 | 93 | (116) | 48 | 100 | — | — | — | — | ||||||||||||||||||||||||||||||||
| Other asset-backed securities | 376 | 1 | 367 | 347 | 95 | (20) | 21 | 100 | — | — | — | — | ||||||||||||||||||||||||||||||||
| Other debt securities | 10 | 1 | 11 | 11 | 100 | — | — | — | — | — | — | 100 | ||||||||||||||||||||||||||||||||
| Total investment securities | $ | 147,483 | $ | (663) | $ | 156,425 | $ | 152,729 | 98 | % | $ | (3,696) | (f) | 34 | % | 96 | % | 4 | % | — | % | — | % | — | % | |||||||||||||||||||
Net premium (discount) and net amortization (accretion) related to the investment securities portfolio (a) | ||||||||
| (in millions) | 1Q26 | 1Q25 | ||||||
| Net purchase premium (discount) that is amortizable (accretable) | $ | (2,834) | $ | (1,285) | ||||
Net amortization (accretion) (b) | $ | (78) | $ | (24) | ||||
| Total exposure – consolidated | March 31, 2026 | Dec. 31, 2025 | |||||||||||||||||||||
| (in billions) | Loans | Unfunded commitments | Total exposure | Loans | Unfunded commitments | Total exposure | |||||||||||||||||
Financial institutions (a) | $ | 25.5 | $ | 28.4 | $ | 53.9 | $ | 13.3 | $ | 30.3 | $ | 43.6 | |||||||||||
| Commercial | 1.4 | 13.2 | 14.6 | 1.7 | 12.9 | 14.6 | |||||||||||||||||
| Wealth management loans | 9.6 | 0.7 | 10.3 | 9.5 | 0.8 | 10.3 | |||||||||||||||||
| Wealth management mortgages | 8.8 | 0.2 | 9.0 | 8.6 | 0.2 | 8.8 | |||||||||||||||||
| Commercial real estate | 6.8 | 3.3 | 10.1 | 6.7 | 3.2 | 9.9 | |||||||||||||||||
| Other residential mortgages | 1.4 | — | 1.4 | 1.8 | — | 1.8 | |||||||||||||||||
Overdrafts (a) | 8.6 | — | 8.6 | 2.8 | — | 2.8 | |||||||||||||||||
| Capital call financing | 5.5 | 3.3 | 8.8 | 5.3 | 3.5 | 8.8 | |||||||||||||||||
| Other | 4.6 | — | 4.6 | 4.6 | — | 4.6 | |||||||||||||||||
| Margin loans | 29.1 | 0.3 | 29.4 | 26.3 | 0.3 | 26.6 | |||||||||||||||||
| Total | $ | 101.3 | $ | 49.4 | $ | 150.7 | $ | 80.6 | $ | 51.2 | $ | 131.8 | |||||||||||
Financial institutions portfolio exposure (dollars in billions) | March 31, 2026 | Dec. 31, 2025 | |||||||||||||||||||||||||||
Loans | Unfunded commitments | Total exposure | % Inv. grade | % due <1 yr. | Loans | Unfunded commitments | Total exposure | ||||||||||||||||||||||
| Securities industry | $ | 14.5 | $ | 13.0 | $ | 27.5 | 99 | % | 99 | % | $ | 3.5 | $ | 15.1 | $ | 18.6 | |||||||||||||
| Asset managers | 2.2 | 8.0 | 10.2 | 98 | 69 | 1.8 | 7.6 | 9.4 | |||||||||||||||||||||
| Banks | 8.1 | 1.6 | 9.7 | 86 | 92 | 7.7 | 1.6 | 9.3 | |||||||||||||||||||||
| Insurance | — | 4.2 | 4.2 | 100 | 8 | — | 4.5 | 4.5 | |||||||||||||||||||||
| Government | — | 0.6 | 0.6 | 100 | 25 | — | 0.6 | 0.6 | |||||||||||||||||||||
| Other | 0.7 | 1.0 | 1.7 | 100 | 21 | 0.3 | 0.9 | 1.2 | |||||||||||||||||||||
| Total | $ | 25.5 | $ | 28.4 | $ | 53.9 | 97 | % | 82 | % | $ | 13.3 | $ | 30.3 | $ | 43.6 | |||||||||||||
| Commercial portfolio exposure | March 31, 2026 | Dec. 31, 2025 | |||||||||||||||||||||||||||
(dollars in billions) | Loans | Unfunded commitments | Total exposure | % Inv. grade | % due <1 yr. | Loans | Unfunded commitments | Total exposure | |||||||||||||||||||||
| Manufacturing | $ | 0.5 | $ | 4.3 | $ | 4.8 | 100 | % | 28 | % | $ | 0.7 | $ | 4.0 | $ | 4.7 | |||||||||||||
| Services and other | 0.8 | 3.7 | 4.5 | 97 | 28 | 0.8 | 4.0 | 4.8 | |||||||||||||||||||||
| Energy and utilities | 0.1 | 4.4 | 4.5 | 93 | 11 | 0.2 | 4.1 | 4.3 | |||||||||||||||||||||
| Media and telecom | — | 0.8 | 0.8 | 89 | 27 | — | 0.8 | 0.8 | |||||||||||||||||||||
| Total | $ | 1.4 | $ | 13.2 | $ | 14.6 | 96 | % | 23 | % | $ | 1.7 | $ | 12.9 | $ | 14.6 | |||||||||||||
Composition of commercial real estate portfolio by asset class | March 31, 2026 | Dec. 31, 2025 | |||||||||||||||
| Total exposure | Percentage secured (a) | Total exposure | Percentage secured (a) | ||||||||||||||
(in billions) | |||||||||||||||||
| Residential | $ | 4.6 | 89 | % | $ | 4.2 | 87 | % | |||||||||
| Office | 2.2 | 72 | 2.4 | 74 | |||||||||||||
| Retail | 0.8 | 53 | 0.8 | 55 | |||||||||||||
| Mixed use | 0.8 | 28 | 0.8 | 28 | |||||||||||||
| Healthcare | 0.7 | 40 | 0.6 | 35 | |||||||||||||
| Hotels | 0.6 | 38 | 0.6 | 38 | |||||||||||||
| Other | 0.4 | 62 | 0.5 | 63 | |||||||||||||
| Total commercial real estate | $ | 10.1 | 70 | % | $ | 9.9 | 69 | % | |||||||||
| Allowance for credit losses activity | March 31, 2026 | Dec. 31, 2025 | ||||||
| (dollars in millions) | ||||||||
| Beginning balance of allowance for credit losses | $ | 344 | $ | 368 | ||||
| Provision for credit losses | (7) | (26) | ||||||
| Net (charge-offs) recoveries: | ||||||||
| Loans: | ||||||||
| Commercial real estate | 11 | 1 | ||||||
| Other residential mortgages | — | 1 | ||||||
| Other financial instruments | (1) | — | ||||||
| Net (charge-offs) recoveries | 10 | 2 | ||||||
| Ending balance of allowance for credit losses | $ | 347 | $ | 344 | ||||
| Allowance for loan losses | $ | 237 | $ | 245 | ||||
Allowance for lending-related commitments | 85 | 74 | ||||||
Allowance for other financial instruments (a) | 25 | 25 | ||||||
| Total allowance for credit losses | $ | 347 | $ | 344 | ||||
| Total loans, at period end | $ | 101,261 | $ | 80,615 | ||||
Allowance for loan losses as a percentage of total loans | 0.23 | % | 0.30 | % | ||||
| Allowance for loan losses and lending-related commitments as a percentage of total loans | 0.32 | % | 0.40 | % | ||||
Allocation of allowance for loan losses and lending-related commitments (a) | |||||||||||||||||
| March 31, 2026 | Dec. 31, 2025 | ||||||||||||||||
| (dollars in millions) | $ | % | $ | % | |||||||||||||
| Commercial real estate | $ | 248 | 78 | % | $ | 262 | 82 | % | |||||||||
| Financial institutions | 32 | 10 | 25 | 8 | |||||||||||||
| Commercial | 12 | 4 | 10 | 3 | |||||||||||||
| Capital call financing | 10 | 3 | 8 | 2 | |||||||||||||
| Wealth management mortgages | 8 | 2 | 7 | 2 | |||||||||||||
| Wealth management loans | 8 | 2 | 5 | 2 | |||||||||||||
| Other residential mortgages | 4 | 1 | 2 | 1 | |||||||||||||
| Total | $ | 322 | 100 | % | $ | 319 | 100 | % | |||||||||
| Nonperforming assets | March 31, 2026 | Dec. 31, 2025 | ||||||
| (dollars in millions) | ||||||||
| Nonperforming loans: | ||||||||
| Commercial real estate | $ | 32 | $ | 106 | ||||
| Other residential mortgages | 18 | 17 | ||||||
| Wealth management mortgages | 16 | 17 | ||||||
| Total nonperforming loans | 66 | 140 | ||||||
| Other assets owned | 3 | 3 | ||||||
| Total nonperforming assets | $ | 69 | $ | 143 | ||||
| Nonperforming assets ratio | 0.07 | % | 0.18 | % | ||||
| Allowance for loan losses/nonperforming loans | 359.1 | 175.0 | ||||||
| Allowance for loan losses/nonperforming assets | 343.5 | 171.3 | ||||||
| Allowance for loan losses and lending-related commitments/nonperforming loans | 487.9 | 227.9 | ||||||
| Allowance for loan losses and lending-related commitments/nonperforming assets | 466.7 | 223.1 | ||||||
| Available funds | March 31, 2026 | Dec. 31, 2025 | Average | |||||||||||
| (dollars in millions) | 1Q26 | 1Q25 | ||||||||||||
| Cash and due from banks | $ | 6,390 | $ | 5,111 | $ | 5,826 | $ | 4,722 | ||||||
| Interest-bearing deposits with the Federal Reserve and other central banks | 170,202 | 116,009 | 97,886 | 86,038 | ||||||||||
| Interest-bearing deposits with banks | 13,544 | 10,397 | 12,049 | 10,083 | ||||||||||
| Federal funds sold and securities purchased under resale agreements | 43,660 | 44,892 | 42,848 | 41,166 | ||||||||||
| Total available funds | $ | 233,796 | $ | 176,409 | $ | 158,609 | $ | 142,009 | ||||||
| Total available funds as a percentage of total assets | 42 | % | 37 | % | 34 | % | 34 | % | ||||||
Credit ratings at March 31, 2026 | Moody’s | S&P | Fitch | Morningstar DBRS | |||||||||||||||||||
| Parent: | |||||||||||||||||||||||
| Long-term senior debt | Aa3 | A | AA- | AA | |||||||||||||||||||
| Subordinated debt | A2 | A- | A | AA (low) | |||||||||||||||||||
| Preferred stock | Baa1 | BBB | BBB+ | A | |||||||||||||||||||
| Outlook – Parent | Stable | Stable | Stable | Stable | |||||||||||||||||||
| The Bank of New York Mellon: | |||||||||||||||||||||||
| Long-term senior debt | Aa2 | AA- | AA | AA (high) | |||||||||||||||||||
| Subordinated debt | NR | A | NR | NR | |||||||||||||||||||
| Long-term deposits | Aa1 | AA- | AA+ | AA (high) | |||||||||||||||||||
| Short-term deposits | P-1 | A-1+ | F1+ | R-1 (high) | |||||||||||||||||||
| Commercial paper | P-1 | A-1+ | F1+ | R-1 (high) | |||||||||||||||||||
| BNY Mellon, N.A.: | |||||||||||||||||||||||
| Long-term senior debt | Aa2 | (a) | AA- | AA | (a) | AA (high) | |||||||||||||||||
| Long-term deposits | Aa1 | AA- | AA+ | AA (high) | |||||||||||||||||||
| Short-term deposits | P-1 | A-1+ | F1+ | R-1 (high) | |||||||||||||||||||
| Outlook – Banks | Stable | Stable | Stable | Stable | |||||||||||||||||||
| Consolidated HQLA and LCR | March 31, 2026 | Dec. 31, 2025 | ||||||
| (dollars in billions) | ||||||||
Cash (a) | $ | 169 | $ | 115 | ||||
Securities (b) | 115 | 113 | ||||||
Total consolidated HQLA (c) | $ | 284 | $ | 228 | ||||
Total consolidated HQLA – average (c) | $ | 212 | $ | 209 | ||||
| Average consolidated LCR | 111 | % | 112 | % | ||||
| Capital data | March 31, 2026 | Dec. 31, 2025 | ||||||
| (dollars in millions, except per share amounts; common shares in thousands) | ||||||||
| BNY shareholders’ equity to total assets ratio | 8.0 | % | 9.4 | % | ||||
| BNY common shareholders’ equity to total assets ratio | 7.0 | % | 8.4 | % | ||||
| Total BNY shareholders’ equity | $ | 44,783 | $ | 44,313 | ||||
| Total BNY common shareholders’ equity | $ | 39,452 | $ | 39,477 | ||||
BNY tangible common shareholders’ equity – Non-GAAP (a) | $ | 21,795 | $ | 21,777 | ||||
| Book value per common share | $ | 57.48 | $ | 57.36 | ||||
Tangible book value per common share – Non-GAAP (a) | $ | 31.75 | $ | 31.64 | ||||
| Closing stock price per common share | $ | 118.63 | $ | 116.09 | ||||
| Market capitalization | $ | 81,425 | $ | 79,897 | ||||
| Common shares outstanding | 686,379 | 688,236 | ||||||
| Quarterly: | ||||||||
| Cash dividends per common share | $ | 0.53 | $ | 0.53 | ||||
| Common dividend payout ratio | 24 | % | 26 | % | ||||
Common dividend yield (annualized) | 1.8 | % | 1.8 | % | ||||
Consolidated and largest bank subsidiary regulatory capital ratios | March 31, 2026 | Dec. 31, 2025 | |||||||||||||||||||||
| Well capitalized | Minimum required | Capital ratios | Capital ratios | ||||||||||||||||||||
| (a) | |||||||||||||||||||||||
Consolidated regulatory capital ratios: (b) | |||||||||||||||||||||||
| Advanced Approaches: | |||||||||||||||||||||||
| CET1 ratio | N/A | (c) | 8.5 | % | 12.7 | % | 13.0 | % | |||||||||||||||
| Tier 1 capital ratio | 6 | % | 10 | 15.9 | 16.0 | ||||||||||||||||||
| Total capital ratio | 10 | 12 | 16.6 | 16.7 | |||||||||||||||||||
| Standardized Approach: | |||||||||||||||||||||||
| CET1 ratio | N/A | (c) | 8.5 | % | 11.0 | % | 11.9 | % | |||||||||||||||
| Tier 1 capital ratio | 6 | % | 10 | 13.8 | 14.6 | ||||||||||||||||||
| Total capital ratio | 10 | 12 | 14.6 | 15.4 | |||||||||||||||||||
| Tier 1 leverage ratio | N/A | (c) | 4 | 6.0 | 6.0 | ||||||||||||||||||
SLR (d) | N/A | (c) | 5 | 6.6 | 6.7 | ||||||||||||||||||
The Bank of New York Mellon regulatory capital ratios: (b)(e) | |||||||||||||||||||||||
| CET1 ratio | 6.5 | % | 7 | % | 14.4 | % | 16.3 | % | |||||||||||||||
| Tier 1 capital ratio | 8 | 8.5 | 14.4 | 16.3 | |||||||||||||||||||
| Total capital ratio | 10 | 10.5 | 14.6 | 16.6 | |||||||||||||||||||
| Tier 1 leverage ratio | 5 | 4 | 6.1 | 6.5 | |||||||||||||||||||
SLR (d) | 6 | 3 | 7.2 | 7.7 | |||||||||||||||||||
| Capital components and risk-weighted assets | ||||||||
| March 31, 2026 | Dec. 31, 2025 | |||||||
| (in millions) | ||||||||
| CET1: | ||||||||
| Common shareholders’ equity | $ | 39,452 | $ | 39,477 | ||||
| Adjustments for: | ||||||||
Goodwill and intangible assets (a) | (17,657) | (17,700) | ||||||
| Net pension fund assets | (381) | (375) | ||||||
| Embedded goodwill | (254) | (258) | ||||||
| Deferred tax assets | (53) | (54) | ||||||
| Other | 1 | (4) | ||||||
| Total CET1 | 21,108 | 21,086 | ||||||
| Other Tier 1 capital: | ||||||||
| Preferred stock | 5,331 | 4,836 | ||||||
| Other | (4) | (13) | ||||||
| Total Tier 1 capital | $ | 26,435 | $ | 25,909 | ||||
| Tier 2 capital: | ||||||||
| Subordinated debt | $ | 1,148 | $ | 1,148 | ||||
| Allowance for credit losses | 347 | 344 | ||||||
| Other | (3) | (11) | ||||||
| Total Tier 2 capital – Standardized Approach | 1,492 | 1,481 | ||||||
| Less: Allowance for credit losses | 347 | 344 | ||||||
| Total Tier 2 capital – Advanced Approaches | $ | 1,145 | $ | 1,137 | ||||
| Total capital: | ||||||||
| Standardized Approach | $ | 27,927 | $ | 27,390 | ||||
| Advanced Approaches | $ | 27,580 | $ | 27,046 | ||||
| Risk-weighted assets: | ||||||||
| Standardized Approach | $ | 191,849 | $ | 177,677 | ||||
| Advanced Approaches: | ||||||||
| Credit Risk | $ | 96,549 | $ | 91,942 | ||||
| Market Risk | 3,869 | 4,201 | ||||||
| Operational Risk | 66,050 | 66,275 | ||||||
| Total Advanced Approaches | $ | 166,468 | $ | 162,418 | ||||
| Average assets for Tier 1 leverage ratio | $ | 443,556 | $ | 432,803 | ||||
| Total leverage exposure for SLR | $ | 402,251 | $ | 388,529 | ||||
| CET1 generation | 1Q26 | ||||
| (in millions) | |||||
| CET1 – Beginning of period | $ | 21,086 | |||
| Net income applicable to common shareholders of The Bank of New York Mellon Corporation | 1,562 | ||||
| Goodwill and intangible assets, net of related deferred tax liabilities | 43 | ||||
| Gross CET1 generated | 1,605 | ||||
| Capital returned: | |||||
| Common stock repurchases | (983) | ||||
Common stock dividends (a) | (376) | ||||
| Total capital returned | (1,359) | ||||
| Other comprehensive gain (loss): | |||||
| Unrealized gain (loss) on assets available-for-sale | (369) | ||||
| Foreign currency translation | (87) | ||||
| Unrealized gain (loss) on cash flow hedges | (19) | ||||
| Defined benefit plans | 14 | ||||
| Total other comprehensive gain (loss) | (461) | ||||
Additional paid-in capital (b) | 235 | ||||
| Other additions (deductions): | |||||
| Net pension fund assets | (6) | ||||
| Embedded goodwill | 4 | ||||
| Deferred tax assets | 1 | ||||
| Other | 3 | ||||
| Total other additions | 2 | ||||
| Net CET1 generated | 22 | ||||
| CET1 – End of period | $ | 21,108 | |||
As a % of RWAs (a) | As a % of total leverage exposure | |||||||
| Eligible external TLAC ratios | Regulatory minimum of 18% plus a buffer (b) equal to the sum of 2.5%, the method 1 G-SIB surcharge (currently 1%), and the countercyclical capital buffer, if any | Regulatory minimum of 7.5% plus a buffer (c) equal to 2% | ||||||
| Eligible external LTD ratios | Regulatory minimum of 6% plus the greater of the method 1 or method 2 G-SIB surcharge (currently 1.5%) | 4.5% | ||||||
| TLAC and LTD ratios | March 31, 2026 | ||||||||||
| Minimum required | Minimum ratios with buffers | ||||||||||
| Ratios | |||||||||||
| Eligible external TLAC: | |||||||||||
As a percentage of RWA | 18.0 | % | 21.5 | % | 28.2 | % | |||||
As a percentage of total leverage exposure | 7.5 | % | 9.5 | % | 13.4 | % | |||||
| Eligible external LTD: | |||||||||||
| As a percentage of RWA | 7.5 | % | N/A | 13.3 | % | ||||||
As a percentage of total leverage exposure | 4.5 | % | N/A | 6.4 | % | ||||||
VaR (a) | 1Q26 | March 31, 2026 | ||||||||||||
| (in millions) | Average | Minimum | Maximum | |||||||||||
| Interest rate | $ | 18.6 | $ | 14.2 | $ | 24.7 | $ | 23.1 | ||||||
| Foreign exchange | 20.2 | 16.1 | 25.4 | 23.8 | ||||||||||
| Equity | 0.1 | — | 0.5 | 0.2 | ||||||||||
| Credit | 0.8 | 0.5 | 1.5 | 1.2 | ||||||||||
| Diversification | (37.8) | N/M | N/M | (45.2) | ||||||||||
| Overall portfolio | 1.9 | 1.0 | 4.2 | 3.1 | ||||||||||
VaR (a) | 1Q25 | March 31, 2025 | ||||||||||||
| (in millions) | Average | Minimum | Maximum | |||||||||||
| Interest rate | $ | 2.6 | $ | 2.1 | $ | 3.3 | $ | 2.6 | ||||||
| Foreign exchange | 2.5 | 1.7 | 3.3 | 2.9 | ||||||||||
| Equity | 0.2 | — | 0.5 | 0.3 | ||||||||||
| Credit | 1.4 | 1.0 | 1.8 | 1.3 | ||||||||||
| Diversification | (5.0) | N/M | N/M | (4.8) | ||||||||||
| Overall portfolio | 1.7 | 1.3 | 2.4 | 2.3 | ||||||||||
Distribution of trading revenue (loss) (a) | |||||||||||||||||
| Quarter ended | |||||||||||||||||
| (dollars in millions) | March 31, 2026 | Dec. 31, 2025 | Sept. 30, 2025 | June 30, 2025 | March 31, 2025 | ||||||||||||
| Revenue range: | Number of days | ||||||||||||||||
| Less than $(2.5) | — | — | — | 1 | 1 | ||||||||||||
| $(2.5) – $0 | 1 | — | 2 | 2 | 4 | ||||||||||||
| $0 – $2.5 | 6 | 16 | 15 | 10 | 16 | ||||||||||||
| $2.5 – $5.0 | 22 | 32 | 31 | 28 | 17 | ||||||||||||
| More than $5.0 | 32 | 16 | 16 | 22 | 23 | ||||||||||||
Estimated changes in net interest income (in millions) | March 31, 2026 | Dec. 31, 2025 | March 31, 2025 | ||||||||
Up 200 bps rate shock vs. baseline | $ | 7 | $ | (19) | $ | 26 | |||||
Up 100 bps rate shock vs. baseline | 46 | 30 | 58 | ||||||||
Long-term up 100 bps, short-term unchanged | 107 | 116 | 104 | ||||||||
Short-term up 100 bps, long-term unchanged | (61) | (86) | (46) | ||||||||
Long-term down 100 bps, short-term unchanged | (115) | (126) | (113) | ||||||||
Short-term down 100 bps, long-term unchanged | (13) | (5) | (31) | ||||||||
Down 100 bps rate shock vs. baseline | (128) | (131) | (144) | ||||||||
Down 200 bps rate shock vs. baseline | (333) | (372) | (372) | ||||||||
| Reconciliation of Non-GAAP measures, excluding notable items | % | |||||||||||||
| (dollars in millions, except per share amounts) | 1Q26 | 1Q25 | change | |||||||||||
| Total revenue – GAAP | $ | 5,409 | $ | 4,792 | 13 | % | ||||||||
Less: Disposal gains (losses) (a) | — | 40 | ||||||||||||
| Adjusted total revenue – Non-GAAP | $ | 5,409 | $ | 4,752 | 14 | % | ||||||||
| Total noninterest expense – GAAP | $ | 3,400 | $ | 3,252 | 5 | % | ||||||||
Less: Severance expense (b) | 18 | 32 | ||||||||||||
Litigation reserves (b) | 3 | 2 | ||||||||||||
FDIC special assessment (b) | (7) | 6 | ||||||||||||
| Adjusted total noninterest expense – Non-GAAP | $ | 3,386 | $ | 3,212 | 5 | % | ||||||||
Net income applicable to common shareholders of The Bank of New York Mellon Corporation – GAAP | $ | 1,562 | $ | 1,149 | 36 | % | ||||||||
Less: Disposal gains (losses) (a) | — | 32 | ||||||||||||
Severance expense (b) | (14) | (25) | ||||||||||||
Litigation reserves (b) | (3) | (1) | ||||||||||||
FDIC special assessment (b) | 6 | (5) | ||||||||||||
| Adjusted net income applicable to common shareholders of The Bank of New York Mellon Corporation – Non-GAAP | $ | 1,573 | $ | 1,148 | 37 | % | ||||||||
| Diluted earnings per common share – GAAP | $ | 2.24 | $ | 1.58 | 42 | % | ||||||||
Less: Disposal gains (losses) (a) | — | 0.04 | ||||||||||||
Severance expense (b) | (0.02) | (0.03) | ||||||||||||
Litigation reserves (b) | — | — | ||||||||||||
FDIC special assessment (b) | 0.01 | (0.01) | ||||||||||||
| Total diluted earnings per common share impact of notable items | (0.02) | (c) | — | |||||||||||
| Adjusted diluted earnings per common share – Non-GAAP | $ | 2.25 | (c) | $ | 1.58 | 42 | % | |||||||
| Pre-tax operating margin reconciliation | |||||||||||
| (dollars in millions) | 1Q26 | 4Q25 | 1Q25 | ||||||||
| Income before taxes – GAAP | $ | 2,016 | $ | 1,845 | $ | 1,522 | |||||
Impact of notable items (a) | (14) | (51) | — | ||||||||
| Adjusted income before taxes, excluding notable items – Non-GAAP | $ | 2,030 | $ | 1,896 | $ | 1,522 | |||||
| Total revenue – GAAP | $ | 5,409 | $ | 5,179 | $ | 4,792 | |||||
Impact of notable items (a) | — | — | 40 | ||||||||
| Adjusted total revenue, excluding notable items – Non-GAAP | $ | 5,409 | $ | 5,179 | $ | 4,752 | |||||
Pre-tax operating margin – GAAP (b) | 37 | % | 36 | % | 32 | % | |||||
Adjusted pre-tax operating margin – Non-GAAP (b) | 38 | % | 37 | % | 32 | % | |||||
| Return on common shareholders’ equity and tangible common shareholders’ equity reconciliation | 1Q26 | 4Q25 | 1Q25 | ||||||||
| (dollars in millions) | |||||||||||
Net income applicable to common shareholders of The Bank of New York Mellon Corporation – GAAP | $ | 1,562 | $ | 1,427 | $ | 1,149 | |||||
| Add: Amortization of intangible assets | 9 | 11 | 11 | ||||||||
| Less: Tax impact of amortization of intangible assets | 2 | 3 | 3 | ||||||||
| Adjusted net income applicable to common shareholders of The Bank of New York Mellon Corporation, excluding amortization of intangible assets – Non-GAAP | 1,569 | 1,435 | 1,157 | ||||||||
Impact of notable items (a) | (11) | (43) | 1 | ||||||||
| Adjusted net income applicable to common shareholders of The Bank of New York Mellon Corporation, excluding amortization of intangible assets and notable items – Non-GAAP | $ | 1,580 | $ | 1,478 | $ | 1,156 | |||||
| Average common shareholders’ equity | $ | 39,448 | $ | 39,142 | $ | 36,980 | |||||
| Less: Average goodwill | 16,774 | 16,777 | 16,615 | ||||||||
| Average intangible assets | 2,819 | 2,827 | 2,849 | ||||||||
| Add: Deferred tax liability – tax deductible goodwill | 1,226 | 1,227 | 1,226 | ||||||||
| Deferred tax liability – intangible assets | 660 | 662 | 666 | ||||||||
| Average tangible common shareholders’ equity – Non-GAAP | $ | 21,741 | $ | 21,427 | $ | 19,408 | |||||
Return on common shareholders’ equity – GAAP (b) | 16.1 | % | 14.5 | % | 12.6 | % | |||||
Adjusted return on common shareholders’ equity – Non-GAAP (b) | 16.2 | % | 14.9 | % | 12.6 | % | |||||
Return on tangible common shareholders’ equity – Non-GAAP (b) | 29.3 | % | 26.6 | % | 24.2 | % | |||||
Adjusted return on tangible common shareholders’ equity – Non-GAAP (b) | 29.5 | % | 27.4 | % | 24.2 | % | |||||
| Book value and tangible book value per common share reconciliation | March 31, 2026 | Dec. 31, 2025 | March 31, 2025 | ||||||||
| (dollars in millions, except per share amounts and unless otherwise noted) | |||||||||||
| The Bank of New York Mellon Corporation shareholders’ equity at period end – GAAP | $ | 44,783 | $ | 44,313 | $ | 43,119 | |||||
| Less: Preferred stock | 5,331 | 4,836 | 5,331 | ||||||||
| The Bank of New York Mellon Corporation common shareholders’ equity at period end – GAAP | 39,452 | 39,477 | 37,788 | ||||||||
| Less: Goodwill | 16,734 | 16,767 | 16,661 | ||||||||
| Intangible assets | 2,809 | 2,822 | 2,846 | ||||||||
| Add: Deferred tax liability – tax deductible goodwill | 1,226 | 1,227 | 1,226 | ||||||||
| Deferred tax liability – intangible assets | 660 | 662 | 666 | ||||||||
| The Bank of New York Mellon Corporation tangible common shareholders’ equity at period end – Non-GAAP | $ | 21,795 | $ | 21,777 | $ | 20,173 | |||||
Period-end common shares outstanding (in thousands) | 686,379 | 688,236 | 715,434 | ||||||||
| Book value per common share – GAAP | $ | 57.48 | $ | 57.36 | $ | 52.82 | |||||
| Tangible book value per common share – Non-GAAP | $ | 31.75 | $ | 31.64 | $ | 28.20 | |||||
| Constant currency reconciliation – Consolidated | % | ||||||||||
| (dollars in millions) | 1Q26 | 1Q25 | change | ||||||||
| Investment management and performance fees – GAAP | $ | 785 | $ | 739 | 6 | % | |||||
| Impact of changes in foreign currency exchange rates | — | 14 | |||||||||
| Adjusted investment management and performance fees – Non-GAAP | $ | 785 | $ | 753 | 4 | % | |||||
Constant currency reconciliation – Investment and Wealth Management business segment | % | ||||||||||
| (dollars in millions) | 1Q26 | 1Q25 | change | ||||||||
| Investment management and performance fees – GAAP | $ | 786 | $ | 740 | 6 | % | |||||
| Impact of changes in foreign currency exchange rates | — | 14 | |||||||||
| Adjusted investment management and performance fees – Non-GAAP | $ | 786 | $ | 754 | 4 | % | |||||
| Quarter ended | ||||||||
| March 31, 2026 | March 31, 2025 | |||||||
| (in millions, except per share amounts; common shares in thousands) | ||||||||
| Fee and other revenue | ||||||||
| Investment services fees | $ | 2,652 | $ | 2,411 | ||||
| Investment management and performance fees | 785 | 739 | ||||||
| Foreign exchange revenue | 232 | 156 | ||||||
| Financing-related fees | 62 | 60 | ||||||
| Distribution and servicing fees | 37 | 37 | ||||||
| Total fee revenue | 3,768 | 3,403 | ||||||
| Investment and other revenue | 271 | 230 | ||||||
| Total fee and other revenue | 4,039 | 3,633 | ||||||
| Net interest income | ||||||||
| Interest income | 5,824 | 6,123 | ||||||
| Interest expense | 4,454 | 4,964 | ||||||
| Net interest income | 1,370 | 1,159 | ||||||
| Total revenue | 5,409 | 4,792 | ||||||
| Provision for credit losses | (7) | 18 | ||||||
| Noninterest expense | ||||||||
| Staff | 1,888 | 1,834 | ||||||
| Software and equipment | 556 | 513 | ||||||
| Professional, legal and other purchased services | 388 | 366 | ||||||
| Sub-custodian and clearing | 151 | 131 | ||||||
| Net occupancy | 123 | 136 | ||||||
| Distribution and servicing | 73 | 65 | ||||||
| Business development | 50 | 48 | ||||||
| Bank assessment charges | 24 | 38 | ||||||
| Amortization of intangible assets | 9 | 11 | ||||||
| Other | 138 | 110 | ||||||
| Total noninterest expense | 3,400 | 3,252 | ||||||
| Income | ||||||||
| Income before income taxes | 2,016 | 1,522 | ||||||
| Provision for income taxes | 386 | 300 | ||||||
| Net income | 1,630 | 1,222 | ||||||
| Net (income) loss attributable to noncontrolling interests related to consolidated investment management funds | 2 | (2) | ||||||
| Net income applicable to shareholders of The Bank of New York Mellon Corporation | 1,632 | 1,220 | ||||||
| Preferred stock dividends | (70) | (71) | ||||||
| Net income applicable to common shareholders of The Bank of New York Mellon Corporation | $ | 1,562 | $ | 1,149 | ||||
| Average common shares and equivalents outstanding: | ||||||||
| Basic | 691,178 | 720,951 | ||||||
| Common stock equivalents | 6,986 | 6,447 | ||||||
| Diluted | 698,164 | 727,398 | ||||||
Anti-dilutive securities (a) | 978 | 662 | ||||||
| Earnings per share applicable to common shareholders: | ||||||||
| Basic | $ | 2.26 | $ | 1.59 | ||||
| Diluted | $ | 2.24 | $ | 1.58 | ||||
| The Bank of New York Mellon Corporation (and its subsidiaries) | ||
| Quarter ended | ||||||||
| March 31, 2026 | March 31, 2025 | |||||||
| (in millions) | ||||||||
| Net income | $ | 1,630 | $ | 1,222 | ||||
| Other comprehensive income (loss), net of tax: | ||||||||
| Foreign currency translation adjustments | (88) | 207 | ||||||
| Unrealized gain (loss) on assets available-for-sale: | ||||||||
| Unrealized gain (loss) arising during the period | (406) | 333 | ||||||
| Reclassification adjustment | 37 | — | ||||||
| Total unrealized gain (loss) on assets available-for-sale | (369) | 333 | ||||||
| Defined benefit plans: | ||||||||
| Net gain (loss) arising during the period | 2 | (5) | ||||||
| Foreign exchange adjustment | 1 | — | ||||||
| Amortization of prior service credit, net loss and initial obligation included in net periodic benefit cost | 11 | 6 | ||||||
| Total defined benefit plans | 14 | 1 | ||||||
| Net unrealized gain (loss) on cash flow hedges | (19) | 3 | ||||||
Total other comprehensive income (loss), net of tax (a) | (462) | 544 | ||||||
| Total comprehensive income | 1,168 | 1,766 | ||||||
| Net (income) loss attributable to noncontrolling interests | 2 | (2) | ||||||
| Other comprehensive (income) loss attributable to noncontrolling interests | 1 | (3) | ||||||
| Comprehensive income applicable to shareholders of The Bank of New York Mellon Corporation | $ | 1,171 | $ | 1,761 | ||||
| The Bank of New York Mellon Corporation (and its subsidiaries) | ||
| March 31, 2026 | Dec. 31, 2025 | |||||||
| (dollars in millions, except per share amounts) | ||||||||
| Assets | ||||||||
Cash and due from banks, net of allowance for credit losses of $20 and $19 | $ | 6,390 | $ | 5,111 | ||||
| Interest-bearing deposits with the Federal Reserve and other central banks | 170,202 | 116,009 | ||||||
Interest-bearing deposits with banks, net of allowance for credit losses of $2 and $3 (includes restricted of $3,096 and $2,848) | 13,544 | 10,397 | ||||||
| Federal funds sold and securities purchased under resale agreements | 43,660 | 44,892 | ||||||
| Investment securities: | ||||||||
Held-to-maturity, at amortized cost, net of allowance for credit losses of less than $1 and less than $1 (fair value of $45,944 and $45,377) | 48,830 | 48,094 | ||||||
Available-for-sale, at fair value (amortized cost of $107,595 and $102,422, net of allowance for credit losses of $— and $—) | 106,785 | 102,106 | ||||||
| Total investment securities | 155,615 | 150,200 | ||||||
| Trading assets | 16,488 | 14,276 | ||||||
| Loans | 101,261 | 80,615 | ||||||
| Allowance for credit losses | (237) | (245) | ||||||
| Net loans | 101,024 | 80,370 | ||||||
| Premises and equipment | 3,796 | 3,581 | ||||||
| Accrued interest receivable | 1,402 | 1,435 | ||||||
| Goodwill | 16,734 | 16,767 | ||||||
| Intangible assets | 2,809 | 2,822 | ||||||
Other assets, net of allowance for credit losses on accounts receivable of $3 and $3 (includes $1,872 and $1,666, at fair value) | 29,853 | 26,440 | ||||||
| Total assets | $ | 561,517 | $ | 472,300 | ||||
| Liabilities | ||||||||
| Deposits: | ||||||||
| Noninterest-bearing deposits (principally U.S. offices) | $ | 127,669 | $ | 59,979 | ||||
| Interest-bearing deposits in U.S. offices | 184,205 | 169,125 | ||||||
| Interest-bearing deposits in non-U.S. offices | 105,206 | 102,790 | ||||||
| Total deposits | 417,080 | 331,894 | ||||||
| Federal funds purchased and securities sold under repurchase agreements | 19,506 | 18,992 | ||||||
| Trading liabilities | 4,747 | 6,135 | ||||||
| Payables to customers and broker-dealers | 24,754 | 21,872 | ||||||
| Commercial paper | 1,002 | 2,003 | ||||||
| Other borrowed funds | 175 | 422 | ||||||
| Accrued taxes and other expenses | 4,449 | 5,544 | ||||||
Other liabilities (including allowance for credit losses on lending-related commitments of $85 and $74, also includes $600 and $617, at fair value) | 11,903 | 8,757 | ||||||
| Long-term debt | 32,582 | 31,873 | ||||||
| Total liabilities | 516,198 | 427,492 | ||||||
| Temporary equity | ||||||||
| Redeemable noncontrolling interests | 81 | 87 | ||||||
| Permanent equity | ||||||||
Preferred stock – par value $0.01 per share; authorized 100,000,000 shares; issued 53,826 and 48,826 shares | 5,331 | 4,836 | ||||||
Common stock – par value $0.01 per share; authorized 3,500,000,000 shares; issued 1,423,366,413 and 1,416,966,905 shares | 14 | 14 | ||||||
| Additional paid-in capital | 30,142 | 29,907 | ||||||
| Retained earnings | 47,582 | 46,396 | ||||||
| Accumulated other comprehensive loss, net of tax | (3,496) | (3,035) | ||||||
Less: Treasury stock of 736,987,368 and 728,730,568 common shares, at cost | (34,790) | (33,805) | ||||||
| Total The Bank of New York Mellon Corporation shareholders’ equity | 44,783 | 44,313 | ||||||
| Nonredeemable noncontrolling interests of consolidated investment management funds | 455 | 408 | ||||||
| Total permanent equity | 45,238 | 44,721 | ||||||
| Total liabilities, temporary equity and permanent equity | $ | 561,517 | $ | 472,300 | ||||
| The Bank of New York Mellon Corporation (and its subsidiaries) | ||
| Three months ended March 31, | |||||||||||
| (in millions) | 2026 | 2025 | |||||||||
| Operating activities | |||||||||||
| Net income | $ | 1,630 | $ | 1,222 | |||||||
| Net (income) loss attributable to noncontrolling interests | 2 | (2) | |||||||||
| Net income applicable to shareholders of The Bank of New York Mellon Corporation | 1,632 | 1,220 | |||||||||
| Adjustments to reconcile net income to net cash provided by (used for) operating activities: | |||||||||||
| Provision for credit losses | (7) | 18 | |||||||||
| Pension plan contributions | (1) | (1) | |||||||||
| Depreciation and amortization | 415 | 446 | |||||||||
| Deferred tax expense | (6) | 83 | |||||||||
| Net investment securities losses | 50 | — | |||||||||
| Change in trading assets and liabilities | (3,570) | 1,709 | |||||||||
| Change in accruals and other, net | (1,526) | (3,063) | |||||||||
| Net cash (used for) provided by operating activities | (3,013) | 412 | |||||||||
| Investing activities | |||||||||||
| Net change in: | |||||||||||
| Interest-bearing deposits with banks | (3,010) | (458) | |||||||||
| Interest-bearing deposits with the Federal Reserve and other central banks | (54,679) | (11,401) | |||||||||
| Federal funds sold and securities purchased under resale agreements | 1,223 | (164) | |||||||||
| Held-to-maturity securities: | |||||||||||
| Purchases | (3,043) | (1,262) | |||||||||
| Proceeds from paydowns and maturities | 2,100 | 1,597 | |||||||||
| Available-for-sale securities: | |||||||||||
| Purchases | (11,489) | (12,719) | |||||||||
| Proceeds from sales | 3,031 | 2,037 | |||||||||
| Proceeds from paydowns and maturities | 3,624 | 3,632 | |||||||||
| Net change in loans | (20,675) | 222 | |||||||||
| Purchases of premises and equipment/capitalized software | (617) | (320) | |||||||||
| Other, net | (188) | 32 | |||||||||
| Net cash (used for) investing activities | (83,723) | (18,804) | |||||||||
| Financing activities | |||||||||||
| Net change in: | |||||||||||
| Deposits | 86,206 | 16,589 | |||||||||
| Federal funds purchased and securities sold under repurchase agreements | 525 | 1,565 | |||||||||
| Payables to customers and broker-dealers | 2,882 | 2,171 | |||||||||
| Commercial paper | (1,001) | 1,361 | |||||||||
| Other borrowed funds | (232) | (22) | |||||||||
| Net proceeds from the issuance of long-term debt | 1,546 | 1,247 | |||||||||
| Repayments, redemptions and repurchases of long-term debt | (700) | (1,650) | |||||||||
| Issuance of common stock | 5 | 4 | |||||||||
| Treasury stock acquired | (983) | (746) | |||||||||
| Issuance of preferred stock | 495 | 988 | |||||||||
| Cash dividends paid | (434) | (414) | |||||||||
| Other, net | (6) | 7 | |||||||||
| Net cash provided by financing activities | 88,303 | 21,100 | |||||||||
| Effect of exchange rate changes on cash | (40) | 126 | |||||||||
| Change in cash and due from banks and restricted cash | |||||||||||
| Change in cash and due from banks and restricted cash | 1,527 | 2,834 | |||||||||
| Cash and due from banks and restricted cash at beginning of period | 7,959 | 5,577 | |||||||||
| Cash and due from banks and restricted cash at end of period | $ | 9,486 | $ | 8,411 | |||||||
| Cash and due from banks and restricted cash | |||||||||||
| Cash and due from banks at end of period (unrestricted cash) | $ | 6,390 | $ | 5,354 | |||||||
| Restricted cash at end of period | 3,096 | 3,057 | |||||||||
| Cash and due from banks and restricted cash at end of period | $ | 9,486 | $ | 8,411 | |||||||
| Supplemental disclosures | |||||||||||
| Interest paid | $ | 4,361 | $ | 4,913 | |||||||
| Income taxes paid | 200 | 214 | |||||||||
| Income taxes refunded | 125 | 9 | |||||||||
| The Bank of New York Mellon Corporation (and its subsidiaries) | ||
| Quarter ended | ||||||||
| (in millions, except per share amount) | March 31, 2026 | March 31, 2025 | ||||||
| Preferred stock | ||||||||
| Balance at beginning of period | $ | 4,836 | $ | 4,343 | ||||
| Issuance | 495 | 988 | ||||||
| Balance at end of period | $ | 5,331 | $ | 5,331 | ||||
| Common stock | ||||||||
| Balance at beginning and end of period | $ | 14 | $ | 14 | ||||
| Additional paid-in capital | ||||||||
| Balance at beginning of period | $ | 29,907 | $ | 29,321 | ||||
| Stock-based compensation | 226 | 204 | ||||||
| Common stock issued under employee benefit plans | 9 | 7 | ||||||
| Other net changes in noncontrolling interests | — | 3 | ||||||
| Balance at end of period | $ | 30,142 | $ | 29,535 | ||||
| Retained earnings | ||||||||
| Balance at beginning of period | $ | 46,396 | $ | 42,537 | ||||
| Net income | 1,632 | 1,220 | ||||||
Common stock dividends ($0.53 and $0.47 per share) (a) | (376) | (343) | ||||||
| Preferred stock dividends | (70) | (71) | ||||||
| Balance at end of period | $ | 47,582 | $ | 43,343 | ||||
| Accumulated other comprehensive income (loss), net of tax | ||||||||
| Balance at beginning of period | $ | (3,035) | $ | (4,656) | ||||
| Other comprehensive income (loss) | (461) | 541 | ||||||
| Balance at end of period | $ | (3,496) | $ | (4,115) | ||||
| Treasury stock | ||||||||
| Balance at beginning of period | $ | (33,805) | $ | (30,241) | ||||
| Repurchase of common stock | (983) | (746) | ||||||
| Excise tax on share repurchases | (2) | (2) | ||||||
| Balance at end of period | $ | (34,790) | $ | (30,989) | ||||
Total The Bank of New York Mellon Corporation shareholders’ equity (b) | $ | 44,783 | $ | 43,119 | ||||
| Nonredeemable noncontrolling interests of consolidated investment management funds | ||||||||
| Balance at beginning of period | $ | 408 | $ | 359 | ||||
| Other net changes in noncontrolling interests | 49 | 49 | ||||||
| Net income | (2) | 2 | ||||||
| Balance at end of period | $ | 455 | $ | 410 | ||||
Total permanent equity (b) | $ | 45,238 | $ | 43,529 | ||||
| Redeemable noncontrolling interests/temporary equity | ||||||||
| Balance at beginning of period | $ | 87 | $ | 87 | ||||
| Other net changes in noncontrolling interests | (5) | 4 | ||||||
| Other comprehensive income (loss) | (1) | 3 | ||||||
| Balance at end of period | $ | 81 | $ | 94 | ||||
| Notes to Consolidated Financial Statements | ||
Investment securities at March 31, 2026 | Gross unrealized | Fair value | ||||||||||||
| Amortized cost | ||||||||||||||
| (in millions) | Gains | Losses | ||||||||||||
| Available-for-sale: | ||||||||||||||
| U.S. Treasury | $ | 28,491 | $ | 33 | $ | 79 | $ | 28,445 | ||||||
Non-U.S. government (a) | 28,311 | 34 | 244 | 28,101 | ||||||||||
| Agency residential mortgage-backed securities (“RMBS”) | 23,730 | 102 | 325 | 23,507 | ||||||||||
| Foreign covered bonds | 8,066 | 16 | 66 | 8,016 | ||||||||||
| Agency commercial mortgage-backed securities (“MBS”) | 6,770 | 11 | 120 | 6,661 | ||||||||||
| Collateralized loan obligations (“CLOs”) | 6,551 | 1 | 11 | 6,541 | ||||||||||
| Non-agency commercial MBS | 2,180 | — | 86 | 2,094 | ||||||||||
| U.S. government agencies | 1,540 | 5 | 1 | 1,544 | ||||||||||
| Non-agency RMBS | 1,647 | 1 | 119 | 1,529 | ||||||||||
| Other asset-backed securities (“ABS”) | 367 | 1 | 21 | 347 | ||||||||||
| Total available-for-sale securities excluding portfolio level basis adjustments | 107,653 | 204 | 1,072 | 106,785 | ||||||||||
Portfolio level basis adjustments (b) | (58) | — | (58) | — | ||||||||||
| Total available-for-sale securities | $ | 107,595 | $ | 204 | $ | 1,014 | $ | 106,785 | ||||||
| Held-to-maturity: | ||||||||||||||
| Agency RMBS | $ | 27,974 | $ | 23 | $ | 2,401 | $ | 25,596 | ||||||
| U.S. Treasury | 7,499 | 2 | 163 | 7,338 | ||||||||||
Non-U.S. government (a) | 5,384 | 1 | 51 | 5,334 | ||||||||||
| Agency commercial MBS | 2,833 | 1 | 115 | 2,719 | ||||||||||
| U.S. government agencies | 2,636 | — | 177 | 2,459 | ||||||||||
| CLOs | 1,798 | 1 | 3 | 1,796 | ||||||||||
| Foreign covered bonds | 695 | — | 4 | 691 | ||||||||||
| Other debt securities | 11 | — | — | 11 | ||||||||||
| Total held-to-maturity securities | $ | 48,830 | $ | 28 | $ | 2,914 | $ | 45,944 | ||||||
| Total investment securities | $ | 156,425 | $ | 232 | $ | 3,928 | $ | 152,729 | ||||||
Notes to Consolidated Financial Statements (continued) | ||
Investment securities at Dec. 31, 2025 | Gross unrealized | |||||||||||||
| Amortized cost | Fair value | |||||||||||||
| (in millions) | Gains | Losses | ||||||||||||
| Available-for-sale: | ||||||||||||||
Non-U.S. government (a) | $ | 28,593 | $ | 122 | $ | 147 | $ | 28,568 | ||||||
| U.S. Treasury | 25,621 | 115 | 25 | 25,711 | ||||||||||
| Agency RMBS | 21,261 | 202 | 243 | 21,220 | ||||||||||
| Foreign covered bonds | 8,088 | 37 | 57 | 8,068 | ||||||||||
| Agency commercial MBS | 6,891 | 12 | 123 | 6,780 | ||||||||||
| CLOs | 6,117 | 4 | 3 | 6,118 | ||||||||||
| Non-agency commercial MBS | 2,280 | 1 | 85 | 2,196 | ||||||||||
| U.S. government agencies | 1,542 | 12 | — | 1,554 | ||||||||||
| Non-agency RMBS | 1,631 | 2 | 118 | 1,515 | ||||||||||
| Other ABS | 397 | 1 | 22 | 376 | ||||||||||
| Total available-for-sale securities excluding portfolio level basis adjustments | 102,421 | 508 | 823 | 102,106 | ||||||||||
Portfolio level basis adjustments (b) | 1 | (1) | — | — | ||||||||||
| Total available-for-sale securities | $ | 102,422 | $ | 507 | $ | 823 | $ | 102,106 | ||||||
| Held-to-maturity: | ||||||||||||||
| Agency RMBS | $ | 26,432 | $ | 48 | $ | 2,317 | $ | 24,163 | ||||||
| U.S. Treasury | 7,830 | 18 | 173 | 7,675 | ||||||||||
Non-U.S. government (a) | 5,654 | 22 | 20 | 5,656 | ||||||||||
| Agency commercial MBS | 2,937 | 3 | 120 | 2,820 | ||||||||||
| U.S. government agencies | 2,653 | — | 178 | 2,475 | ||||||||||
| CLOs | 1,841 | 2 | 3 | 1,840 | ||||||||||
| Foreign covered bonds | 736 | 2 | — | 738 | ||||||||||
| Other debt securities | 11 | — | 1 | 10 | ||||||||||
| Total held-to-maturity securities | $ | 48,094 | $ | 95 | $ | 2,812 | $ | 45,377 | ||||||
| Total investment securities | $ | 150,516 | $ | 602 | $ | 3,635 | $ | 147,483 | ||||||
| Net investment securities gains (losses) | ||||||||
| (in millions) | 1Q26 | 1Q25 | ||||||
| Realized gross gains | $ | 5 | $ | 4 | ||||
| Realized gross losses | (55) | (4) | ||||||
| Total net investment securities gains (losses) | $ | (50) | $ | — | ||||
| Net investment securities gains (losses) | ||||||||
| (in millions) | 1Q26 | 1Q25 | ||||||
| Non-U.S. government | $ | (21) | $ | — | ||||
| Foreign covered bonds | (11) | — | ||||||
| Other | (18) | — | ||||||
| Total net investment securities gains (losses) | $ | (50) | $ | — | ||||
Notes to Consolidated Financial Statements (continued) | ||
Available-for-sale securities in an unrealized loss position without an allowance for credit losses at March 31, 2026 | Less than 12 months | 12 months or more | Total | |||||||||||||||||||||||
| Fair value | Unrealized losses | Fair value | Unrealized losses | Fair value | Unrealized losses | |||||||||||||||||||||
| (in millions) | ||||||||||||||||||||||||||
Non-U.S. government (a) | $ | 15,329 | $ | 139 | $ | 2,360 | $ | 105 | $ | 17,689 | $ | 244 | ||||||||||||||
| Agency RMBS | 10,979 | 109 | 5,290 | 216 | 16,269 | 325 | ||||||||||||||||||||
| U.S. Treasury | 5,917 | 21 | 9,770 | 58 | 15,687 | 79 | ||||||||||||||||||||
| CLOs | 4,917 | 10 | 214 | 1 | 5,131 | 11 | ||||||||||||||||||||
| Agency commercial MBS | 1,007 | 9 | 3,657 | 111 | 4,664 | 120 | ||||||||||||||||||||
| Foreign covered bonds | 2,482 | 27 | 810 | 39 | 3,292 | 66 | ||||||||||||||||||||
| Non-agency commercial MBS | 133 | — | 1,786 | 86 | 1,919 | 86 | ||||||||||||||||||||
| Non-agency RMBS | 297 | — | 845 | 119 | 1,142 | 119 | ||||||||||||||||||||
| U.S. government agencies | 213 | 1 | 78 | — | 291 | 1 | ||||||||||||||||||||
| Other ABS | 18 | — | 272 | 21 | 290 | 21 | ||||||||||||||||||||
| Total securities available-for-sale | $ | 41,292 | $ | 316 | $ | 25,082 | $ | 756 | $ | 66,374 | $ | 1,072 | ||||||||||||||
Available-for-sale securities in an unrealized loss position without an allowance for credit losses at Dec. 31, 2025 | Less than 12 months | 12 months or more | Total | |||||||||||||||||||||||
| Fair value | Unrealized losses | Fair value | Unrealized losses | Fair value | Unrealized losses | |||||||||||||||||||||
| (in millions) | ||||||||||||||||||||||||||
| Agency RMBS | $ | 3,614 | $ | 26 | $ | 5,818 | $ | 217 | $ | 9,432 | $ | 243 | ||||||||||||||
Non-U.S. government (a) | 4,120 | 17 | 3,195 | 130 | 7,315 | 147 | ||||||||||||||||||||
| Agency commercial MBS | 420 | 1 | 4,303 | 122 | 4,723 | 123 | ||||||||||||||||||||
| Foreign covered bonds | 1,191 | 5 | 1,338 | 52 | 2,529 | 57 | ||||||||||||||||||||
| CLOs | 2,280 | 3 | — | — | 2,280 | 3 | ||||||||||||||||||||
| U.S. Treasury | 378 | 1 | 1,671 | 24 | 2,049 | 25 | ||||||||||||||||||||
| Non-agency commercial MBS | 78 | — | 1,881 | 85 | 1,959 | 85 | ||||||||||||||||||||
| Non-agency RMBS | 267 | 2 | 807 | 116 | 1,074 | 118 | ||||||||||||||||||||
| Other ABS | 14 | — | 294 | 22 | 308 | 22 | ||||||||||||||||||||
| Total securities available-for-sale | $ | 12,362 | $ | 55 | $ | 19,307 | $ | 768 | $ | 31,669 | $ | 823 | ||||||||||||||
Held-to-maturity securities portfolio at March 31, 2026 | Ratings (a) | ||||||||||||||||||||||||||||
| Net unrealized gain (loss) | BB+ and lower | ||||||||||||||||||||||||||||
| (dollars in millions) | Amortized cost | AAA/ AA- | A+/ A- | BBB+/ BBB- | Not rated | ||||||||||||||||||||||||
| Agency RMBS | $ | 27,974 | $ | (2,378) | 100 | % | — | % | — | % | — | % | — | % | |||||||||||||||
| U.S. Treasury | 7,499 | (161) | 100 | — | — | — | — | ||||||||||||||||||||||
Non-U.S. government (b)(c) | 5,384 | (50) | 88 | 12 | — | — | — | ||||||||||||||||||||||
| Agency commercial MBS | 2,833 | (114) | 100 | — | — | — | — | ||||||||||||||||||||||
| U.S. government agencies | 2,636 | (177) | 100 | — | — | — | — | ||||||||||||||||||||||
| CLOs | 1,798 | (2) | 100 | — | — | — | — | ||||||||||||||||||||||
| Foreign covered bonds | 695 | (4) | 100 | — | — | — | — | ||||||||||||||||||||||
| Other debt securities | 11 | — | — | — | — | — | 100 | ||||||||||||||||||||||
| Total held-to-maturity securities | $ | 48,830 | $ | (2,886) | 98 | % | 2 | % | — | % | — | % | — | % | |||||||||||||||
Notes to Consolidated Financial Statements (continued) | ||
Held-to-maturity securities portfolio at Dec. 31, 2025 | Ratings (a) | ||||||||||||||||||||||||||||
| Net unrealized gain (loss) | BB+ and lower | ||||||||||||||||||||||||||||
| (dollars in millions) | Amortized cost | AAA/ AA- | A+/ A- | BBB+/ BBB- | Not rated | ||||||||||||||||||||||||
| Agency RMBS | $ | 26,432 | $ | (2,269) | 100 | % | — | % | — | % | — | % | — | % | |||||||||||||||
| U.S. Treasury | 7,830 | (155) | 100 | — | — | — | — | ||||||||||||||||||||||
Non-U.S. government (b)(c) | 5,654 | 2 | 86 | 14 | — | — | — | ||||||||||||||||||||||
| Agency commercial MBS | 2,937 | (117) | 100 | — | — | — | — | ||||||||||||||||||||||
| U.S. government agencies | 2,653 | (178) | 100 | — | — | — | — | ||||||||||||||||||||||
| CLOs | 1,841 | (1) | 100 | — | — | — | — | ||||||||||||||||||||||
| Foreign covered bonds | 736 | 2 | 100 | — | — | — | — | ||||||||||||||||||||||
| Other debt securities | 11 | (1) | — | — | — | — | 100 | ||||||||||||||||||||||
| Total held-to-maturity securities | $ | 48,094 | $ | (2,717) | 98 | % | 2 | % | — | % | — | % | — | % | |||||||||||||||
Maturity distribution and yields on investment securities at March 31, 2026 | ||||||||||||||||||||||||||||||||||||||||||||
| Within 1 year | 1-5 years | 5-10 years | After 10 years | Total | ||||||||||||||||||||||||||||||||||||||||
| (dollars in millions) | Amount | Yield (a) | Amount | Yield (a) | Amount | Yield (a) | Amount | Yield (a) | Amount | Yield (a) | ||||||||||||||||||||||||||||||||||
| Available-for-sale: | ||||||||||||||||||||||||||||||||||||||||||||
| U.S. Treasury | $ | 1,877 | 2.49% | $ | 24,363 | 3.27% | $ | 301 | 4.22% | $ | 1,904 | 2.94% | $ | 28,445 | 3.21% | |||||||||||||||||||||||||||||
Non-U.S. government (b) | 4,120 | 3.68 | 20,177 | 3.29 | 3,626 | 3.33 | 178 | 3.26 | 28,101 | 3.35 | ||||||||||||||||||||||||||||||||||
| Foreign covered bonds | 1,806 | 3.60 | 5,601 | 3.20 | 609 | 3.16 | — | — | 8,016 | 3.28 | ||||||||||||||||||||||||||||||||||
| U.S. government agencies | 80 | 3.76 | 996 | 3.42 | 468 | 2.57 | — | — | 1,544 | 3.18 | ||||||||||||||||||||||||||||||||||
| Mortgage-backed securities: | ||||||||||||||||||||||||||||||||||||||||||||
| Agency RMBS | 23,507 | 3.97 | ||||||||||||||||||||||||||||||||||||||||||
| Agency commercial MBS | 6,661 | 3.12 | ||||||||||||||||||||||||||||||||||||||||||
| Non-agency commercial MBS | 2,094 | 2.80 | ||||||||||||||||||||||||||||||||||||||||||
| Non-agency RMBS | 1,529 | 3.41 | ||||||||||||||||||||||||||||||||||||||||||
| CLOs | 6,541 | 4.82 | ||||||||||||||||||||||||||||||||||||||||||
| Other ABS | 347 | 2.43 | ||||||||||||||||||||||||||||||||||||||||||
| Total securities available-for-sale | $ | 7,883 | 3.38 | % | $ | 51,137 | 3.27 | % | $ | 5,004 | 3.29 | % | $ | 2,082 | 2.97 | % | $ | 106,785 | 3.50 | % | ||||||||||||||||||||||||
| Held-to-maturity: | ||||||||||||||||||||||||||||||||||||||||||||
| U.S. Treasury | $ | 3,606 | 1.28 | % | $ | 3,893 | 1.17 | % | $ | — | — | % | $ | — | — | % | $ | 7,499 | 1.22 | % | ||||||||||||||||||||||||
Non-U.S. government (b) | 1,078 | 2.48 | 4,272 | 2.70 | 34 | 2.65 | — | — | 5,384 | 2.65 | ||||||||||||||||||||||||||||||||||
| U.S. government agencies | 445 | 1.24 | 1,885 | 1.57 | 280 | 1.89 | 26 | 2.22 | 2,636 | 1.56 | ||||||||||||||||||||||||||||||||||
| Foreign covered bonds | 221 | 2.52 | 474 | 2.59 | — | — | — | — | 695 | 2.57 | ||||||||||||||||||||||||||||||||||
| Other debt securities | — | — | — | — | 11 | 4.75 | — | — | 11 | 4.75 | ||||||||||||||||||||||||||||||||||
| Mortgage-backed securities: | ||||||||||||||||||||||||||||||||||||||||||||
| Agency RMBS | 27,974 | 2.61 | ||||||||||||||||||||||||||||||||||||||||||
| Agency commercial MBS | 2,833 | 2.71 | ||||||||||||||||||||||||||||||||||||||||||
| CLOs | 1,798 | 4.99 | ||||||||||||||||||||||||||||||||||||||||||
| Total securities held-to-maturity | $ | 5,350 | 1.57 | % | $ | 10,524 | 1.93 | % | $ | 325 | 2.07 | % | $ | 26 | 2.22 | % | $ | 48,830 | 2.44 | % | ||||||||||||||||||||||||
| Total investment securities | $ | 13,233 | 2.65 | % | $ | 61,661 | 3.04 | % | $ | 5,329 | 3.22 | % | $ | 2,108 | 2.96 | % | $ | 155,615 | 3.17 | % | ||||||||||||||||||||||||
Notes to Consolidated Financial Statements (continued) | ||
| Loans | March 31, 2026 | Dec. 31, 2025 | ||||||
| (in millions) | ||||||||
| Commercial | $ | 1,444 | $ | 1,748 | ||||
| Commercial real estate | 6,838 | 6,710 | ||||||
Financial institutions (a) | 25,456 | 13,309 | ||||||
| Wealth management loans | 9,584 | 9,520 | ||||||
| Wealth management mortgages | 8,789 | 8,586 | ||||||
| Other residential mortgages | 1,433 | 1,820 | ||||||
| Capital call financing | 5,453 | 5,336 | ||||||
| Other | 4,597 | 4,533 | ||||||
Overdrafts (a) | 8,604 | 2,800 | ||||||
| Margin loans | 29,063 | 26,253 | ||||||
Total loans (b) | $ | 101,261 | $ | 80,615 | ||||
Notes to Consolidated Financial Statements (continued) | ||
Allowance for credit losses activity for the quarter ended March 31, 2025 | Wealth management loans | Wealth management mortgages | Other residential mortgages | Capital call financing | Total | |||||||||||||||||||||
| (in millions) | Commercial | Commercial real estate | Financial institutions | |||||||||||||||||||||||
| Beginning balance | $ | 20 | $ | 315 | $ | 19 | $ | 1 | $ | 6 | $ | 2 | $ | 3 | $ | 366 | ||||||||||
| Charge-offs | — | (10) | — | — | — | — | — | (10) | ||||||||||||||||||
| Recoveries | — | — | — | — | — | 1 | — | 1 | ||||||||||||||||||
| Net (charge-offs) recoveries | — | (10) | — | — | — | 1 | — | (9) | ||||||||||||||||||
Provision (a) | (5) | 21 | (3) | — | — | (1) | 1 | 13 | ||||||||||||||||||
| Ending balance | $ | 15 | $ | 326 | $ | 16 | $ | 1 | $ | 6 | $ | 2 | $ | 4 | $ | 370 | ||||||||||
| Allowance for: | ||||||||||||||||||||||||||
| Loan losses | $ | 5 | $ | 271 | $ | 7 | $ | 1 | $ | 6 | $ | 2 | $ | 3 | $ | 295 | ||||||||||
| Lending-related commitments | 10 | 55 | 9 | — | — | — | 1 | 75 | ||||||||||||||||||
| Individually evaluated for impairment: | ||||||||||||||||||||||||||
Loan balance (b) | $ | — | $ | 275 | $ | — | $ | — | $ | 3 | $ | 1 | $ | — | $ | 279 | ||||||||||
| Allowance for loan losses | — | 75 | — | — | — | — | — | 75 | ||||||||||||||||||
Notes to Consolidated Financial Statements (continued) | ||
| Nonperforming assets | March 31, 2026 | Dec. 31, 2025 | |||||||||||||||||||||
| Recorded investment | Recorded investment | ||||||||||||||||||||||
| With an allowance | Without an allowance | With an allowance | Without an allowance | ||||||||||||||||||||
| (in millions) | Total | Total | |||||||||||||||||||||
| Nonperforming loans: | |||||||||||||||||||||||
| Commercial real estate | $ | 32 | $ | — | $ | 32 | $ | 106 | $ | — | $ | 106 | |||||||||||
| Other residential mortgages | 14 | 4 | 18 | 16 | 1 | 17 | |||||||||||||||||
| Wealth management mortgages | 9 | 7 | 16 | 9 | 8 | 17 | |||||||||||||||||
| Total nonperforming loans | 55 | 11 | 66 | 131 | 9 | 140 | |||||||||||||||||
| Other assets owned | — | 3 | 3 | — | 3 | 3 | |||||||||||||||||
| Total nonperforming assets | $ | 55 | $ | 14 | $ | 69 | $ | 131 | $ | 12 | $ | 143 | |||||||||||
| Past due loans and still accruing interest | March 31, 2026 | Dec. 31, 2025 | |||||||||||||||||||||||||||
| Days past due | Total past due | Days past due | Total past due | ||||||||||||||||||||||||||
| (in millions) | 30-59 | 60-89 | ≥90 | 30-59 | 60-89 | ≥90 | |||||||||||||||||||||||
| Wealth management loans | $ | 70 | $ | 2 | $ | — | $ | 72 | $ | 63 | $ | 8 | $ | — | $ | 71 | |||||||||||||
| Commercial real estate | 42 | — | — | 42 | 7 | 3 | — | 10 | |||||||||||||||||||||
| Wealth management mortgages | 28 | — | — | 28 | 49 | 2 | — | 51 | |||||||||||||||||||||
| Other residential mortgages | 8 | 1 | — | 9 | 23 | 4 | — | 27 | |||||||||||||||||||||
| Total past due loans | $ | 148 | $ | 3 | $ | — | $ | 151 | $ | 142 | $ | 17 | $ | — | $ | 159 | |||||||||||||
Notes to Consolidated Financial Statements (continued) | ||
| Credit profile of the loan portfolio | March 31, 2026 | |||||||||||||||||||||||||||||||
| Revolving loans | ||||||||||||||||||||||||||||||||
| Originated, at amortized cost | Amortized cost | Converted to term loans – Amortized cost | Accrued interest receivable | |||||||||||||||||||||||||||||
| (in millions) | 1Q26 | 2025 | 2024 | 2023 | 2022 | Prior to 2022 | Total (a) | |||||||||||||||||||||||||
| Commercial: | ||||||||||||||||||||||||||||||||
| Investment grade | $ | 3 | $ | 50 | $ | 54 | $ | 32 | $ | 16 | $ | 152 | $ | 1,051 | $ | — | $ | 1,358 | ||||||||||||||
| Non-investment grade | 14 | — | 11 | — | — | — | 61 | — | 86 | |||||||||||||||||||||||
| Total commercial | 17 | 50 | 65 | 32 | 16 | 152 | 1,112 | — | 1,444 | $ | 1 | |||||||||||||||||||||
| Commercial real estate: | ||||||||||||||||||||||||||||||||
| Investment grade | 381 | 915 | 413 | 462 | 564 | 1,572 | 191 | — | 4,498 | |||||||||||||||||||||||
| Non-investment grade | 70 | 305 | 235 | 183 | 687 | 776 | 84 | — | 2,340 | |||||||||||||||||||||||
| Total commercial real estate | 451 | 1,220 | 648 | 645 | 1,251 | 2,348 | 275 | — | 6,838 | 26 | ||||||||||||||||||||||
| Financial institutions: | ||||||||||||||||||||||||||||||||
| Investment grade | 208 | 520 | 206 | 75 | 10 | — | 22,746 | — | 23,765 | |||||||||||||||||||||||
| Non-investment grade | 28 | 84 | — | — | — | — | 1,579 | — | 1,691 | |||||||||||||||||||||||
| Total financial institutions | 236 | 604 | 206 | 75 | 10 | — | 24,325 | — | 25,456 | 97 | ||||||||||||||||||||||
| Wealth management loans: | ||||||||||||||||||||||||||||||||
| Investment grade | 53 | 11 | — | 28 | 7 | 140 | 8,980 | 175 | 9,394 | |||||||||||||||||||||||
| Non-investment grade | — | — | — | — | 19 | — | 171 | — | 190 | |||||||||||||||||||||||
| Total wealth management loans | 53 | 11 | — | 28 | 26 | 140 | 9,151 | 175 | 9,584 | 48 | ||||||||||||||||||||||
| Wealth management mortgages | 125 | 614 | 448 | 701 | 1,468 | 5,413 | 20 | — | 8,789 | 24 | ||||||||||||||||||||||
| Other residential mortgages | 5 | 383 | 102 | 137 | 478 | 328 | — | — | 1,433 | 6 | ||||||||||||||||||||||
| Capital call financing | — | 230 | 130 | — | — | — | 5,093 | — | 5,453 | 20 | ||||||||||||||||||||||
| Other loans | — | — | — | — | — | 91 | 4,506 | — | 4,597 | 8 | ||||||||||||||||||||||
| Margin loans | 14,070 | — | — | — | — | — | 14,993 | — | 29,063 | 44 | ||||||||||||||||||||||
Total loans (b) | $ | 14,957 | $ | 3,112 | $ | 1,599 | $ | 1,618 | $ | 3,249 | $ | 8,472 | $ | 59,475 | $ | 175 | $ | 92,657 | $ | 274 | ||||||||||||
Notes to Consolidated Financial Statements (continued) | ||
| Credit profile of the loan portfolio | Dec. 31, 2025 | |||||||||||||||||||||||||||||||
| Revolving loans | ||||||||||||||||||||||||||||||||
| Originated, at amortized cost | Amortized cost | Converted to term loans – Amortized cost | Accrued interest receivable | |||||||||||||||||||||||||||||
| (in millions) | 2025 | 2024 | 2023 | 2022 | 2021 | Prior to 2021 | Total (a) | |||||||||||||||||||||||||
| Commercial: | ||||||||||||||||||||||||||||||||
| Investment grade | $ | 55 | $ | 55 | $ | 45 | $ | 16 | $ | 49 | $ | 104 | $ | 1,357 | $ | — | $ | 1,681 | ||||||||||||||
| Non-investment grade | — | 11 | — | — | — | — | 56 | — | 67 | |||||||||||||||||||||||
| Total commercial | 55 | 66 | 45 | 16 | 49 | 104 | 1,413 | — | 1,748 | $ | 1 | |||||||||||||||||||||
Commercial real estate: (b) | ||||||||||||||||||||||||||||||||
| Investment grade | 989 | 412 | 499 | 617 | 343 | 1,280 | 156 | — | 4,296 | |||||||||||||||||||||||
| Non-investment grade | 262 | 287 | 166 | 707 | 219 | 720 | 53 | — | 2,414 | |||||||||||||||||||||||
| Total commercial real estate | 1,251 | 699 | 665 | 1,324 | 562 | 2,000 | 209 | — | 6,710 | 25 | ||||||||||||||||||||||
| Financial institutions: | ||||||||||||||||||||||||||||||||
| Investment grade | 686 | 373 | 75 | 10 | 24 | — | 10,552 | — | 11,720 | |||||||||||||||||||||||
| Non-investment grade | 119 | — | — | — | — | — | 1,470 | — | 1,589 | |||||||||||||||||||||||
| Total financial institutions | 805 | 373 | 75 | 10 | 24 | — | 12,022 | — | 13,309 | 112 | ||||||||||||||||||||||
| Wealth management loans: | ||||||||||||||||||||||||||||||||
| Investment grade | 14 | — | 28 | 27 | 52 | 93 | 9,003 | 175 | 9,392 | |||||||||||||||||||||||
| Non-investment grade | — | — | — | — | — | — | 128 | — | 128 | |||||||||||||||||||||||
| Total wealth management loans | 14 | — | 28 | 27 | 52 | 93 | 9,131 | 175 | 9,520 | 49 | ||||||||||||||||||||||
Wealth management mortgages (b) | 633 | 270 | 647 | 1,486 | 1,724 | 3,812 | 14 | — | 8,586 | 24 | ||||||||||||||||||||||
Other residential mortgages (b) | 416 | 324 | 242 | 492 | 171 | 175 | — | — | 1,820 | 6 | ||||||||||||||||||||||
| Capital call financing | 230 | 130 | — | — | — | — | 4,976 | — | 5,336 | 24 | ||||||||||||||||||||||
| Other loans | — | — | — | — | 7 | 85 | 4,441 | — | 4,533 | 8 | ||||||||||||||||||||||
| Margin loans | 12,457 | — | — | — | — | — | 13,796 | — | 26,253 | 37 | ||||||||||||||||||||||
| Total loans | $ | 15,861 | $ | 1,862 | $ | 1,702 | $ | 3,355 | $ | 2,589 | $ | 6,269 | $ | 46,002 | $ | 175 | $ | 77,815 | $ | 286 | ||||||||||||
Notes to Consolidated Financial Statements (continued) | ||
Notes to Consolidated Financial Statements (continued) | ||
Goodwill by business segment (in millions) | Securities Services | Market and Wealth Services | Investment and Wealth Management | Consolidated | ||||||||||
Balance at Dec. 31, 2025 | ||||||||||||||
| Goodwill | $ | 7,388 | $ | 1,481 | $ | 8,578 | $ | 17,447 | ||||||
| Accumulated impairment losses | — | — | (680) | (680) | ||||||||||
| Net goodwill | $ | 7,388 | $ | 1,481 | $ | 7,898 | $ | 16,767 | ||||||
Business realignment (a) | (59) | 59 | — | — | ||||||||||
| Foreign currency translation | (11) | (2) | (20) | (33) | ||||||||||
Balance at March 31, 2026 | ||||||||||||||
| Goodwill | $ | 7,318 | $ | 1,538 | $ | 8,558 | $ | 17,414 | ||||||
| Accumulated impairment losses | — | — | (680) | (680) | ||||||||||
| Net goodwill | $ | 7,318 | $ | 1,538 | $ | 7,878 | $ | 16,734 | ||||||
Goodwill by business segment (in millions) | Securities Services | Market and Wealth Services | Investment and Wealth Management | Consolidated | ||||||||||
Balance at Dec. 31, 2024 | ||||||||||||||
| Goodwill | $ | 7,331 | $ | 1,475 | $ | 8,472 | $ | 17,278 | ||||||
| Accumulated impairment losses | — | — | (680) | (680) | ||||||||||
| Net goodwill | $ | 7,331 | $ | 1,475 | $ | 7,792 | $ | 16,598 | ||||||
| Dispositions | (18) | — | — | (18) | ||||||||||
| Foreign currency translation | 33 | 3 | 45 | 81 | ||||||||||
Balance at March 31, 2025 | ||||||||||||||
| Goodwill | $ | 7,346 | $ | 1,478 | $ | 8,517 | $ | 17,341 | ||||||
| Accumulated impairment losses | — | — | (680) | (680) | ||||||||||
| Net goodwill | $ | 7,346 | $ | 1,478 | $ | 7,837 | $ | 16,661 | ||||||
Notes to Consolidated Financial Statements (continued) | ||
Intangible assets – net carrying amount by business segment (in millions) | Securities Services | Market and Wealth Services | Investment and Wealth Management | Other | Consolidated | ||||||||||||
Balance at Dec. 31, 2025 | $ | 164 | $ | 371 | $ | 1,438 | $ | 849 | $ | 2,822 | |||||||
Business realignment (a) | (44) | 44 | — | — | — | ||||||||||||
| Amortization | (5) | (1) | (3) | — | (9) | ||||||||||||
| Foreign currency translation | (1) | — | (3) | — | (4) | ||||||||||||
Balance at March 31, 2026 | $ | 114 | $ | 414 | $ | 1,432 | $ | 849 | $ | 2,809 | |||||||
Intangible assets – net carrying amount by business segment (in millions) | Securities Services | Market and Wealth Services | Investment and Wealth Management | Other | Consolidated | ||||||||||||
Balance at Dec. 31, 2024 | $ | 186 | $ | 374 | $ | 1,442 | $ | 849 | $ | 2,851 | |||||||
| Amortization | (6) | (1) | (4) | — | (11) | ||||||||||||
| Foreign currency translation | 1 | — | 5 | — | 6 | ||||||||||||
Balance at March 31, 2025 | $ | 181 | $ | 373 | $ | 1,443 | $ | 849 | $ | 2,846 | |||||||
| Intangible assets | March 31, 2026 | Dec. 31, 2025 | |||||||||||||||||||||
| (dollars in millions) | Gross carrying amount | Accumulated amortization | Net carrying amount | Gross carrying amount | Accumulated amortization | Net carrying amount | |||||||||||||||||
Subject to amortization: (a) | |||||||||||||||||||||||
Customer contracts – Securities Services | $ | 731 | $ | (618) | $ | 113 | $ | 779 | $ | (616) | $ | 163 | |||||||||||
Customer contracts – Market and Wealth Services | 316 | (272) | 44 | 269 | (268) | 1 | |||||||||||||||||
Customer relationships – Investment and Wealth Management | 512 | (469) | 43 | 512 | (467) | 45 | |||||||||||||||||
| Other | 40 | (16) | 24 | 40 | (15) | 25 | |||||||||||||||||
| Total subject to amortization | $ | 1,599 | $ | (1,375) | $ | 224 | $ | 1,600 | $ | (1,366) | $ | 234 | |||||||||||
Not subject to amortization: (b) | |||||||||||||||||||||||
| Trade names | $ | 1,293 | N/A | $ | 1,293 | $ | 1,294 | N/A | $ | 1,294 | |||||||||||||
| Customer relationships | 1,292 | N/A | 1,292 | 1,294 | N/A | 1,294 | |||||||||||||||||
| Total not subject to amortization | $ | 2,585 | N/A | $ | 2,585 | $ | 2,588 | N/A | $ | 2,588 | |||||||||||||
| Total intangible assets | $ | 4,184 | $ | (1,375) | $ | 2,809 | $ | 4,188 | $ | (1,366) | $ | 2,822 | |||||||||||
| For the year ended Dec. 31, | Estimated amortization expense (in millions) | |||||||
| 2026 | $ | 28 | ||||||
| 2027 | 31 | |||||||
| 2028 | 27 | |||||||
| 2029 | 24 | |||||||
| 2030 | 19 | |||||||
Notes to Consolidated Financial Statements (continued) | ||
| Other assets | March 31, 2026 | Dec. 31, 2025 | ||||||
| (in millions) | ||||||||
| Corporate/bank-owned life insurance | $ | 5,641 | $ | 5,647 | ||||
Accounts receivable (a) | 5,225 | 4,829 | ||||||
| Fails to deliver | 3,830 | 1,197 | ||||||
| Tax credit investments | 3,043 | 3,151 | ||||||
| Software | 2,711 | 2,707 | ||||||
| Prepaid pension assets | 2,547 | 2,361 | ||||||
| Prepaid expense | 1,018 | 854 | ||||||
| Equity method investments | 960 | 953 | ||||||
| Assets of consolidated investment management funds | 959 | 864 | ||||||
Other equity investments (b) | 785 | 701 | ||||||
| Cash collateral receivable on derivative transactions | 611 | 474 | ||||||
| Fair value of hedging derivatives | 532 | 358 | ||||||
| Federal Reserve Bank stock | 487 | 484 | ||||||
| Income taxes receivable | 307 | 554 | ||||||
Seed capital (c) | 153 | 207 | ||||||
Other (d) | 1,044 | 1,099 | ||||||
| Total other assets | $ | 29,853 | $ | 26,440 | ||||
| Adjustments on non-readily marketable equity securities | Life-to- date | ||||||||||
| (in millions) | 1Q26 | 1Q25 | |||||||||
| Upward adjustments | $ | 26 | $ | 12 | $ | 394 | |||||
| Downward adjustments | — | — | (102) | ||||||||
| Net adjustments | $ | 26 | $ | 12 | $ | 292 | |||||
| (in millions) | 1Q26 | 1Q25 | ||||||
| Tax credits and other tax benefits | $ | 136 | $ | 142 | ||||
| Amortization expense | $ | 122 | $ | 126 | ||||
Notes to Consolidated Financial Statements (continued) | ||
Notes to Consolidated Financial Statements (continued) | ||
| Disaggregation of contract revenue by business segment | |||||||||||||||||||||||||||||||||||
| Quarter ended | |||||||||||||||||||||||||||||||||||
| March 31, 2026 | March 31, 2025 | ||||||||||||||||||||||||||||||||||
| (in millions) | Securities Services | Market and Wealth Services | Investment and Wealth Management | Other | Total | Securities Services | Market and Wealth Services | Investment and Wealth Management | Other | Total | |||||||||||||||||||||||||
| Fee and other revenue – contract revenue: | |||||||||||||||||||||||||||||||||||
Investment services fees (a) | $ | 1,421 | $ | 1,177 | $ | 26 | $ | (16) | $ | 2,608 | $ | 1,297 | $ | 1,079 | $ | 25 | $ | (18) | $ | 2,383 | |||||||||||||||
| Investment management and performance fees | — | 3 | 781 | (4) | 780 | — | 3 | 748 | (3) | 748 | |||||||||||||||||||||||||
| Financing-related fees | 19 | 10 | — | — | 29 | 15 | 8 | — | — | 23 | |||||||||||||||||||||||||
| Distribution and servicing fees | 1 | (34) | 70 | — | 37 | 1 | (33) | 68 | — | 36 | |||||||||||||||||||||||||
| Investment and other revenue | 74 | 72 | (113) | (2) | 31 | 67 | 67 | (103) | 2 | 33 | |||||||||||||||||||||||||
| Total fee and other revenue – contract revenue | 1,515 | 1,228 | 764 | (22) | 3,485 | 1,380 | 1,124 | 738 | (19) | 3,223 | |||||||||||||||||||||||||
Fee and other revenue – not in scope of Accounting Standards Codification (“ASC”) 606 (a)(b)(c) | 406 | 93 | 8 | 49 | 556 | 278 | 77 | — | 53 | 408 | |||||||||||||||||||||||||
| Total fee and other revenue | $ | 1,921 | $ | 1,321 | $ | 772 | $ | 27 | $ | 4,041 | $ | 1,658 | $ | 1,201 | $ | 738 | $ | 34 | $ | 3,631 | |||||||||||||||
Notes to Consolidated Financial Statements (continued) | ||
| Net interest income | Quarter ended | |||||||
| (in millions) | March 31, 2026 | March 31, 2025 | ||||||
| Interest income | ||||||||
| Deposits with the Federal Reserve and other central banks | $ | 781 | $ | 826 | ||||
| Deposits with banks | 68 | 84 | ||||||
| Federal funds sold and securities purchased under resale agreements | 2,567 | 2,922 | ||||||
| Loans | 1,020 | 999 | ||||||
| Investment securities | 1,298 | 1,211 | ||||||
| Trading securities | 90 | 81 | ||||||
| Total interest income | 5,824 | 6,123 | ||||||
| Interest expense | ||||||||
| Deposits | 1,554 | 1,722 | ||||||
| Federal funds purchased and securities sold under repurchase agreements | 2,298 | 2,610 | ||||||
| Trading liabilities | 27 | 23 | ||||||
| Other borrowed funds | 4 | 4 | ||||||
| Commercial paper | 19 | 14 | ||||||
| Customer payables | 151 | 157 | ||||||
| Long-term debt | 401 | 434 | ||||||
| Total interest expense | 4,454 | 4,964 | ||||||
| Net interest income | 1,370 | 1,159 | ||||||
| Provision for credit losses | (7) | 18 | ||||||
| Net interest income after provision for credit losses | $ | 1,377 | $ | 1,141 | ||||
Net periodic benefit (credit) cost | Quarter ended | ||||||||||||||||||||||
| March 31, 2026 | March 31, 2025 | ||||||||||||||||||||||
| (in millions) | Domestic pension benefits | Foreign pension benefits | Healthcare benefits | Domestic pension benefits | Foreign pension benefits | Healthcare benefits | |||||||||||||||||
| Service cost | $ | — | $ | 4 | $ | — | $ | — | $ | 3 | $ | — | |||||||||||
| Interest cost | 44 | 12 | 1 | 46 | 10 | 1 | |||||||||||||||||
| Expected return on assets | (88) | (20) | (2) | (91) | (19) | (2) | |||||||||||||||||
| Other | 14 | — | 1 | 8 | (1) | 1 | |||||||||||||||||
| Net periodic benefit (credit) | $ | (30) | $ | (4) | $ | — | $ | (37) | $ | (7) | $ | — | |||||||||||
Notes to Consolidated Financial Statements (continued) | ||
| Non-consolidated VIEs | March 31, 2026 | Dec. 31, 2025 | ||||||
| (in millions) | ||||||||
| Other assets | $ | 3,123 | $ | 3,258 | ||||
| Other liabilities | 871 | 946 | ||||||
| Maximum loss exposure | 3,995 | 4,205 | ||||||
Notes to Consolidated Financial Statements (continued) | ||
Preferred stock summary (a) | Total shares issued and outstanding | Carrying value (b) | ||||||||||||||||||
| (in millions) | ||||||||||||||||||||
| March 31, 2026 | Dec. 31, 2025 | March 31, 2026 | Dec. 31, 2025 | |||||||||||||||||
Per annum dividend rate (c) | ||||||||||||||||||||
| Series A | Greater of (i) SOFR plus 0.565% and (ii) 4.000% | 5,001 | 5,001 | $ | 500 | $ | 500 | |||||||||||||
| Series F | 4.625% to but excluding Sept. 20, 2026, then SOFR plus 3.131% | 10,000 | 10,000 | 990 | 990 | |||||||||||||||
| Series H | 3.700% to but excluding March 20, 2026, then a floating rate equal to the five-year treasury rate plus 3.352% | 5,825 | 5,825 | 576 | 576 | |||||||||||||||
| Series I | 3.750% to but excluding Dec. 20, 2026, then a floating rate equal to the five-year treasury rate plus 2.630% | 13,000 | 13,000 | 1,287 | 1,287 | |||||||||||||||
| Series J | 6.300% to but excluding March 20, 2030, then a floating rate equal to the five-year treasury rate plus 2.297% | 5,000 | 5,000 | 494 | 494 | |||||||||||||||
| Series K | 6.150% to but excluding March 20, 2030, then a floating rate equal to the five-year treasury rate plus 2.161% | 5,000 | 5,000 | 494 | 494 | |||||||||||||||
| Series L | 5.950% to but excluding Dec. 20, 2030, then a floating rate equal to the five-year treasury rate plus 2.271% | 5,000 | 5,000 | 495 | 495 | |||||||||||||||
| Series M | 5.625% to but excluding March 20, 2031, then a floating rate equal to the five-year treasury rate plus 2.034% | 5,000 | — | 495 | — | |||||||||||||||
| Total | 53,826 | 48,826 | $ | 5,331 | $ | 4,836 | ||||||||||||||
| Preferred dividends | |||||||||||||||||||||||||||||
| (dollars in millions, except per share amounts) | Depositary shares per share | 1Q26 | 1Q25 | ||||||||||||||||||||||||||
| Per share | Total dividend | Per share | Total dividend | ||||||||||||||||||||||||||
| Series A | 100 | (a) | $ | 1,105.18 | $ | 6 | $ | 1,295.17 | $ | 7 | |||||||||||||||||||
| Series F | 100 | 2,312.50 | 23 | 2,312.50 | 23 | ||||||||||||||||||||||||
| Series G | 100 | N/A | N/A | 2,350.00 | 24 | ||||||||||||||||||||||||
| Series H | 100 | 925.00 | 5 | 925.00 | 5 | ||||||||||||||||||||||||
| Series I | 100 | 937.50 | 12 | 937.50 | 12 | ||||||||||||||||||||||||
| Series J | 100 | 3,150.00 | 16 | N/A | N/A | ||||||||||||||||||||||||
| Series K | 4,000 | 1,537.50 | 8 | N/A | N/A | ||||||||||||||||||||||||
| Total | $ | 70 | $ | 71 | |||||||||||||||||||||||||
Notes to Consolidated Financial Statements (continued) | ||
| Components of other comprehensive income (loss) | Quarter ended | ||||||||||||||||||||||
| March 31, 2026 | March 31, 2025 | ||||||||||||||||||||||
| (in millions) | Pre-tax amount | Tax (expense) benefit | After-tax amount | Pre-tax amount | Tax (expense) benefit | After-tax amount | |||||||||||||||||
| Foreign currency translation: | |||||||||||||||||||||||
Foreign currency translation adjustments arising during the period (a) | $ | (45) | $ | (43) | $ | (88) | $ | 118 | $ | 89 | $ | 207 | |||||||||||
| Total foreign currency translation | (45) | (43) | (88) | 118 | 89 | 207 | |||||||||||||||||
| Unrealized gain on assets available-for-sale: | |||||||||||||||||||||||
| Unrealized gain arising during period | (541) | 135 | (406) | 440 | (107) | 333 | |||||||||||||||||
Reclassification adjustment (b) | 50 | (13) | 37 | — | — | — | |||||||||||||||||
| Net unrealized gain (loss) on assets available-for-sale | (491) | 122 | (369) | 440 | (107) | 333 | |||||||||||||||||
| Defined benefit plans: | |||||||||||||||||||||||
| Net (loss) arising during the period | 2 | — | 2 | (7) | 2 | (5) | |||||||||||||||||
| Foreign exchange adjustment | 1 | — | 1 | — | — | — | |||||||||||||||||
Amortization of prior service credit, net loss and initial obligation included in net periodic benefit cost (b) | 15 | (4) | 11 | 8 | (2) | 6 | |||||||||||||||||
| Total defined benefit plans | 18 | (4) | 14 | 1 | — | 1 | |||||||||||||||||
| Unrealized gain (loss) on cash flow hedges: | |||||||||||||||||||||||
| Unrealized hedge (loss) gain arising during period | (31) | 7 | (24) | 1 | — | 1 | |||||||||||||||||
| Reclassification of net (gain) loss to net income: | |||||||||||||||||||||||
| Foreign exchange (“FX”) contracts – staff expense | 3 | (1) | 2 | 4 | (1) | 3 | |||||||||||||||||
| FX contracts – investment and other revenue | 2 | — | 2 | (1) | — | (1) | |||||||||||||||||
| Interest rate contracts - interest expense | 1 | — | 1 | — | — | — | |||||||||||||||||
| Total reclassifications to net income | 6 | (1) | 5 | 3 | (1) | 2 | |||||||||||||||||
| Net unrealized (loss) gain on cash flow hedges | (25) | 6 | (19) | 4 | (1) | 3 | |||||||||||||||||
| Total other comprehensive income | $ | (543) | $ | 81 | $ | (462) | $ | 563 | $ | (19) | $ | 544 | |||||||||||
Notes to Consolidated Financial Statements (continued) | ||
| Changes in accumulated other comprehensive income (loss) attributable to The Bank of New York Mellon Corporation shareholders | ||||||||||||||||||||||||||||||||||||||
Unrealized gain (loss) on assets available-for-sale (a) | Unrealized gain (loss) on cash flow hedges | Total accumulated other comprehensive (loss) income, net of tax | ||||||||||||||||||||||||||||||||||||
| (in millions) | Foreign currency translation | Pensions | Other post-retirement benefits | |||||||||||||||||||||||||||||||||||
Quarter ended March 31, 2026 | ||||||||||||||||||||||||||||||||||||||
| Balance, beginning of period | $ | (1,451) | $ | (1,295) | $ | (35) | $ | (241) | $ | (13) | $ | (3,035) | ||||||||||||||||||||||||||
| Net change | (87) | 13 | 1 | (369) | (19) | (461) | ||||||||||||||||||||||||||||||||
| Balance, end of period | $ | (1,538) | $ | (1,282) | $ | (34) | $ | (610) | $ | (32) | $ | (3,496) | ||||||||||||||||||||||||||
Quarter ended March 31, 2025 | ||||||||||||||||||||||||||||||||||||||
| Balance, beginning of period | $ | (2,031) | $ | (1,344) | $ | (36) | $ | (1,240) | $ | (5) | $ | (4,656) | ||||||||||||||||||||||||||
| Net change | 204 | 7 | (6) | 333 | 3 | 541 | ||||||||||||||||||||||||||||||||
| Balance, end of period | $ | (1,827) | $ | (1,337) | $ | (42) | $ | (907) | $ | (2) | $ | (4,115) | ||||||||||||||||||||||||||
Notes to Consolidated Financial Statements (continued) | ||
Assets and liabilities measured at fair value on a recurring basis at March 31, 2026 | Total carrying value | ||||||||||||||||
| (dollars in millions) | Level 1 | Level 2 | Level 3 | Netting (a) | |||||||||||||
| Assets: | |||||||||||||||||
| Available-for-sale securities: | |||||||||||||||||
| U.S. Treasury | $ | 27,487 | $ | 958 | $ | — | $ | — | $ | 28,445 | |||||||
Non-U.S. government (b) | 6,809 | 21,292 | — | — | 28,101 | ||||||||||||
| Agency RMBS | — | 23,507 | — | — | 23,507 | ||||||||||||
| Foreign covered bonds | — | 8,016 | — | — | 8,016 | ||||||||||||
| Agency commercial MBS | — | 6,661 | — | — | 6,661 | ||||||||||||
| CLOs | — | 6,541 | — | — | 6,541 | ||||||||||||
| Non-agency commercial MBS | — | 2,094 | — | — | 2,094 | ||||||||||||
| U.S. government agencies | — | 1,544 | — | — | 1,544 | ||||||||||||
| Non-agency RMBS | — | 1,529 | — | — | 1,529 | ||||||||||||
| Other ABS | — | 347 | — | — | 347 | ||||||||||||
| Total available-for-sale securities | 34,296 | 72,489 | — | — | 106,785 | ||||||||||||
| Trading assets: | |||||||||||||||||
| Debt instruments | 2,122 | 3,777 | — | — | 5,899 | ||||||||||||
| Equity instruments | 7,529 | — | — | — | 7,529 | ||||||||||||
| Derivative assets not designated as hedging: | |||||||||||||||||
| Interest rate | 13 | 830 | — | — | 843 | ||||||||||||
| Foreign exchange | — | 8,812 | — | — | 8,812 | ||||||||||||
| Equity and other contracts | 4 | 306 | — | — | 310 | ||||||||||||
| Netting agreements | (6,905) | (6,905) | |||||||||||||||
| Total derivative assets not designated as hedging | 17 | 9,948 | — | (6,905) | 3,060 | ||||||||||||
| Total trading assets | 9,668 | 13,725 | — | (6,905) | 16,488 | ||||||||||||
| Other assets: | |||||||||||||||||
| Derivative assets designated as hedging: | |||||||||||||||||
| Interest rate | — | 302 | — | — | 302 | ||||||||||||
| Foreign exchange | — | 230 | — | — | 230 | ||||||||||||
| Total derivative assets designated as hedging | — | 532 | — | — | 532 | ||||||||||||
Other assets (c) | 582 | 603 | — | — | 1,185 | ||||||||||||
| Total other assets | 582 | 1,135 | — | — | 1,717 | ||||||||||||
Assets measured at NAV (c) | 155 | ||||||||||||||||
| Total assets | $ | 44,546 | $ | 87,349 | $ | — | $ | (6,905) | $ | 125,145 | |||||||
| Percentage of total assets prior to netting | 34 | % | 66 | % | — | % | |||||||||||
| Liabilities: | |||||||||||||||||
| Trading liabilities: | |||||||||||||||||
| Debt instruments | $ | 2,221 | $ | 26 | $ | — | $ | — | $ | 2,247 | |||||||
| Equity instruments | 187 | — | — | — | 187 | ||||||||||||
| Derivative liabilities not designated as hedging: | |||||||||||||||||
| Interest rate | 9 | 955 | — | — | 964 | ||||||||||||
| Foreign exchange | — | 8,724 | — | — | 8,724 | ||||||||||||
| Equity and other contracts | — | 29 | — | — | 29 | ||||||||||||
| Netting agreements | (7,404) | (7,404) | |||||||||||||||
| Total derivative liabilities not designated as hedging | 9 | 9,708 | — | (7,404) | 2,313 | ||||||||||||
| Total trading liabilities | 2,417 | 9,734 | — | (7,404) | 4,747 | ||||||||||||
| Other liabilities: | |||||||||||||||||
| Derivative liabilities designated as hedging: | |||||||||||||||||
| Interest rate | — | 13 | — | — | 13 | ||||||||||||
| Foreign exchange | — | 39 | — | — | 39 | ||||||||||||
| Total derivative liabilities designated as hedging | — | 52 | — | — | 52 | ||||||||||||
| Other liabilities | 542 | 6 | — | — | 548 | ||||||||||||
| Total other liabilities | 542 | 58 | — | — | 600 | ||||||||||||
| Total liabilities | $ | 2,959 | $ | 9,792 | $ | — | $ | (7,404) | $ | 5,347 | |||||||
| Percentage of total liabilities prior to netting | 23 | % | 77 | % | — | % | |||||||||||
Notes to Consolidated Financial Statements (continued) | ||
Assets and liabilities measured at fair value on a recurring basis at Dec. 31, 2025 | Total carrying value | ||||||||||||||||
| (dollars in millions) | Level 1 | Level 2 | Level 3 | Netting (a) | |||||||||||||
| Assets: | |||||||||||||||||
| Available-for-sale securities: | |||||||||||||||||
Non-U.S. government (b) | $ | 7,196 | $ | 21,372 | $ | — | $ | — | $ | 28,568 | |||||||
| U.S. Treasury | 24,755 | 956 | — | — | 25,711 | ||||||||||||
| Agency RMBS | — | 21,220 | — | — | 21,220 | ||||||||||||
| Foreign covered bonds | — | 8,068 | — | — | 8,068 | ||||||||||||
| Agency commercial MBS | — | 6,780 | — | — | 6,780 | ||||||||||||
| CLOs | — | 6,118 | — | — | 6,118 | ||||||||||||
| Non-agency commercial MBS | — | 2,196 | — | — | 2,196 | ||||||||||||
| U.S. government agencies | — | 1,554 | — | — | 1,554 | ||||||||||||
| Non-agency RMBS | — | 1,515 | — | — | 1,515 | ||||||||||||
| Other ABS | — | 376 | — | — | 376 | ||||||||||||
| Total available-for-sale securities | 31,951 | 70,155 | — | — | 102,106 | ||||||||||||
| Trading assets: | |||||||||||||||||
| Debt instruments | 2,426 | 3,778 | — | — | 6,204 | ||||||||||||
| Equity instruments | 7,040 | — | — | — | 7,040 | ||||||||||||
| Derivative assets not designated as hedging: | |||||||||||||||||
| Interest rate | 5 | 713 | — | — | 718 | ||||||||||||
| Foreign exchange | — | 5,517 | — | — | 5,517 | ||||||||||||
| Equity and other contracts | — | 21 | — | — | 21 | ||||||||||||
| Netting agreements | (5,224) | (5,224) | |||||||||||||||
| Total derivative assets not designated as hedging | 5 | 6,251 | — | (5,224) | 1,032 | ||||||||||||
| Total trading assets | 9,471 | 10,029 | — | (5,224) | 14,276 | ||||||||||||
| Other assets: | |||||||||||||||||
| Derivative assets designated as hedging: | |||||||||||||||||
| Interest rate | — | 305 | — | — | 305 | ||||||||||||
| Foreign exchange | — | 53 | — | — | 53 | ||||||||||||
| Total derivative assets designated as hedging | — | 358 | — | — | 358 | ||||||||||||
Other assets (c) | 575 | 578 | — | — | 1,153 | ||||||||||||
| Total other assets | 575 | 936 | — | — | 1,511 | ||||||||||||
Assets measured at NAV (c) | 155 | ||||||||||||||||
| Total assets | $ | 41,997 | $ | 81,120 | $ | — | $ | (5,224) | $ | 118,048 | |||||||
| Percentage of total assets prior to netting | 34 | % | 66 | % | — | % | |||||||||||
| Liabilities: | |||||||||||||||||
| Trading liabilities: | |||||||||||||||||
| Debt instruments | $ | 3,303 | $ | 41 | $ | — | $ | — | $ | 3,344 | |||||||
| Equity instruments | 241 | — | — | — | 241 | ||||||||||||
| Derivative liabilities not designated as hedging: | |||||||||||||||||
| Interest rate | 3 | 970 | — | — | 973 | ||||||||||||
| Foreign exchange | — | 5,351 | — | — | 5,351 | ||||||||||||
| Equity and other contracts | 1 | 56 | — | — | 57 | ||||||||||||
| Netting agreements | (3,831) | (3,831) | |||||||||||||||
| Total derivative liabilities not designated as hedging | 4 | 6,377 | — | (3,831) | 2,550 | ||||||||||||
| Total trading liabilities | 3,548 | 6,418 | — | (3,831) | 6,135 | ||||||||||||
| Other liabilities: | |||||||||||||||||
| Derivative liabilities designated as hedging: | |||||||||||||||||
| Foreign exchange | — | 81 | — | — | 81 | ||||||||||||
| Total derivative liabilities designated as hedging | — | 81 | — | — | 81 | ||||||||||||
| Other liabilities | 535 | 1 | — | — | 536 | ||||||||||||
| Total other liabilities | 535 | 82 | — | — | 617 | ||||||||||||
| Total liabilities | $ | 4,083 | $ | 6,500 | $ | — | $ | (3,831) | $ | 6,752 | |||||||
| Percentage of total liabilities prior to netting | 39 | % | 61 | % | — | % | |||||||||||
Notes to Consolidated Financial Statements (continued) | ||
| Details of certain available-for-sale securities measured at fair value on a recurring basis | March 31, 2026 | Dec. 31, 2025 | |||||||||||||||||||||||||||||||||||||||
Total carrying value (b) | Ratings (a) | Total carrying value (b) | Ratings (a) | ||||||||||||||||||||||||||||||||||||||
| AAA/ AA- | A+/ A- | BBB+/ BBB- | BB+ and lower | Not rated | AAA/ AA- | A+/ A- | BBB+/ BBB- | BB+ and lower | Not rated | ||||||||||||||||||||||||||||||||
| (dollars in millions) | |||||||||||||||||||||||||||||||||||||||||
| Non-agency RMBS, originated in: | |||||||||||||||||||||||||||||||||||||||||
| 2008-2026 | $ | 1,524 | 100 | % | — | % | — | % | — | % | — | % | $ | 1,509 | 100 | % | — | % | — | % | — | % | — | % | |||||||||||||||||
| 2007 and earlier | 5 | — | 100 | — | — | — | 6 | — | 100 | — | — | — | |||||||||||||||||||||||||||||
| Total non-agency RMBS | $ | 1,529 | 100 | % | — | % | — | % | — | % | — | % | $ | 1,515 | 100 | % | — | % | — | % | — | % | — | % | |||||||||||||||||
| Non-agency commercial MBS originated in: | |||||||||||||||||||||||||||||||||||||||||
| 2009-2026 | $ | 2,094 | 100 | % | — | % | — | % | — | % | — | % | $ | 2,196 | 100 | % | — | % | — | % | — | % | — | % | |||||||||||||||||
| Foreign covered bonds: | |||||||||||||||||||||||||||||||||||||||||
| Canada | $ | 1,893 | 100 | % | — | % | — | % | — | % | — | % | $ | 1,923 | 100 | % | — | % | — | % | — | % | — | % | |||||||||||||||||
| UK | 1,171 | 100 | — | — | — | — | 1,057 | 100 | — | — | — | — | |||||||||||||||||||||||||||||
| Australia | 944 | 100 | — | — | — | — | 882 | 100 | — | — | — | — | |||||||||||||||||||||||||||||
| Germany | 759 | 100 | — | — | — | — | 793 | 100 | — | — | — | — | |||||||||||||||||||||||||||||
| Singapore | 559 | 100 | — | — | — | — | 607 | 100 | — | — | — | — | |||||||||||||||||||||||||||||
| Netherlands | 521 | 100 | — | — | — | — | 531 | 100 | — | — | — | — | |||||||||||||||||||||||||||||
| Other | 2,169 | 100 | — | — | — | — | 2,275 | 100 | — | — | — | — | |||||||||||||||||||||||||||||
| Total foreign covered bonds | $ | 8,016 | 100 | % | — | % | — | % | — | % | — | % | $ | 8,068 | 100 | % | — | % | — | % | — | % | — | % | |||||||||||||||||
| Non-U.S. government: | |||||||||||||||||||||||||||||||||||||||||
| UK | $ | 4,440 | 100 | % | — | % | — | % | — | % | — | % | $ | 4,702 | 100 | % | — | % | — | % | — | % | — | % | |||||||||||||||||
| Germany | 2,216 | 100 | — | — | — | — | 2,045 | 100 | — | — | — | — | |||||||||||||||||||||||||||||
| Canada | 1,839 | 88 | 12 | — | — | — | 1,835 | 90 | 10 | — | — | — | |||||||||||||||||||||||||||||
| France | 1,749 | 30 | 70 | — | — | — | 2,037 | 31 | 69 | — | — | — | |||||||||||||||||||||||||||||
| Netherlands | 1,592 | 100 | — | — | — | — | 1,825 | 100 | — | — | — | — | |||||||||||||||||||||||||||||
| Austria | 904 | 100 | — | — | — | — | 742 | 100 | — | — | — | — | |||||||||||||||||||||||||||||
| Finland | 839 | 100 | — | — | — | — | 688 | 100 | — | — | — | — | |||||||||||||||||||||||||||||
| Spain | 636 | — | 100 | — | — | — | 628 | — | 100 | — | — | — | |||||||||||||||||||||||||||||
| Japan | 459 | — | 100 | — | — | — | 470 | — | 100 | — | — | — | |||||||||||||||||||||||||||||
| Belgium | 418 | 100 | — | — | — | — | 371 | 100 | — | — | — | — | |||||||||||||||||||||||||||||
Other (c) | 1,454 | 53 | 36 | 3 | 8 | — | 1,490 | 56 | 33 | 3 | 8 | — | |||||||||||||||||||||||||||||
| Supranational | 11,555 | 86 | 14 | — | — | — | 11,735 | 87 | 13 | — | — | — | |||||||||||||||||||||||||||||
| Total non-U.S. government | $ | 28,101 | 83 | % | 17 | % | — | % | — | % | — | % | $ | 28,568 | 83 | % | 17 | % | — | % | — | % | — | % | |||||||||||||||||
Assets measured at fair value on a nonrecurring basis | March 31, 2026 | Dec. 31, 2025 | |||||||||||||||||||||||||||
| Total carrying value | Total carrying value | ||||||||||||||||||||||||||||
| (in millions) | Level 1 | Level 2 | Level 3 | Level 1 | Level 2 | Level 3 | |||||||||||||||||||||||
Loans (a) | $ | — | $ | 20 | $ | — | $ | 20 | $ | — | $ | 21 | $ | — | $ | 21 | |||||||||||||
Other assets (b) | — | 520 | — | 520 | — | 440 | — | 440 | |||||||||||||||||||||
| Total assets at fair value on a nonrecurring basis | $ | — | $ | 540 | $ | — | $ | 540 | $ | — | $ | 461 | $ | — | $ | 461 | |||||||||||||
Notes to Consolidated Financial Statements (continued) | ||
| Summary of financial instruments | March 31, 2026 | ||||||||||||||||
| (in millions) | Level 1 | Level 2 | Level 3 | Total estimated fair value | Carrying amount | ||||||||||||
| Assets: | |||||||||||||||||
Interest-bearing deposits with the Federal Reserve and other central banks | $ | — | $ | 170,202 | $ | — | $ | 170,202 | $ | 170,202 | |||||||
| Interest-bearing deposits with banks | — | 13,546 | — | 13,546 | 13,544 | ||||||||||||
| Federal funds sold and securities purchased under resale agreements | — | 43,660 | — | 43,660 | 43,660 | ||||||||||||
| Securities held-to-maturity | 9,559 | 36,385 | — | 45,944 | 48,830 | ||||||||||||
Loans (a) | — | 100,163 | — | 100,163 | 100,933 | ||||||||||||
| Other financial assets | 6,390 | 2,508 | — | 8,898 | 8,898 | ||||||||||||
| Total | $ | 15,949 | $ | 366,464 | $ | — | $ | 382,413 | $ | 386,067 | |||||||
| Liabilities: | |||||||||||||||||
| Noninterest-bearing deposits | $ | — | $ | 127,669 | $ | — | $ | 127,669 | $ | 127,669 | |||||||
| Interest-bearing deposits | — | 283,275 | — | 283,275 | 289,411 | ||||||||||||
| Federal funds purchased and securities sold under repurchase agreements | — | 19,506 | — | 19,506 | 19,506 | ||||||||||||
| Payables to customers and broker-dealers | — | 24,754 | — | 24,754 | 24,754 | ||||||||||||
| Commercial paper | — | 1,002 | — | 1,002 | 1,002 | ||||||||||||
| Borrowings | — | 1,037 | — | 1,037 | 1,037 | ||||||||||||
| Long-term debt | — | 32,629 | — | 32,629 | 32,582 | ||||||||||||
| Total | $ | — | $ | 489,872 | $ | — | $ | 489,872 | $ | 495,961 | |||||||
| Summary of financial instruments | Dec. 31, 2025 | ||||||||||||||||
| (in millions) | Level 1 | Level 2 | Level 3 | Total estimated fair value | Carrying amount | ||||||||||||
| Assets: | |||||||||||||||||
Interest-bearing deposits with the Federal Reserve and other central banks | $ | — | $ | 116,009 | $ | — | $ | 116,009 | $ | 116,009 | |||||||
| Interest-bearing deposits with banks | — | 10,398 | — | 10,398 | 10,397 | ||||||||||||
| Federal funds sold and securities purchased under resale agreements | — | 44,892 | — | 44,892 | 44,892 | ||||||||||||
| Securities held-to-maturity | 10,014 | 35,363 | — | 45,377 | 48,094 | ||||||||||||
Loans (a) | — | 79,418 | — | 79,418 | 80,278 | ||||||||||||
| Other financial assets | 5,111 | 2,449 | — | 7,560 | 7,560 | ||||||||||||
| Total | $ | 15,125 | $ | 288,529 | $ | — | $ | 303,654 | $ | 307,230 | |||||||
| Liabilities: | |||||||||||||||||
| Noninterest-bearing deposits | $ | — | $ | 59,979 | $ | — | $ | 59,979 | $ | 59,979 | |||||||
| Interest-bearing deposits | — | 265,730 | — | 265,730 | 271,915 | ||||||||||||
| Federal funds purchased and securities sold under repurchase agreements | — | 18,992 | — | 18,992 | 18,992 | ||||||||||||
| Payables to customers and broker-dealers | — | 21,872 | — | 21,872 | 21,872 | ||||||||||||
| Commercial paper | — | 2,003 | — | 2,003 | 2,003 | ||||||||||||
| Borrowings | — | 1,191 | — | 1,191 | 1,191 | ||||||||||||
| Long-term debt | — | 32,256 | — | 32,256 | 31,873 | ||||||||||||
| Total | $ | — | $ | 402,023 | $ | — | $ | 402,023 | $ | 407,825 | |||||||
Notes to Consolidated Financial Statements (continued) | ||
Assets and liabilities of consolidated investment management funds, at fair value | ||||||||
| March 31, 2026 | Dec. 31, 2025 | |||||||
| (in millions) | ||||||||
| Assets of consolidated investment management funds: | ||||||||
| Trading assets | $ | 935 | $ | 841 | ||||
| Other assets | 24 | 23 | ||||||
| Total assets of consolidated investment management funds | $ | 959 | $ | 864 | ||||
| Liabilities of consolidated investment management funds: | ||||||||
| Other liabilities | $ | 7 | $ | 1 | ||||
| Total liabilities of consolidated investment management funds | $ | 7 | $ | 1 | ||||
Notes to Consolidated Financial Statements (continued) | ||
| Income statement impact of fair value hedges | |||||||||||
| (in millions) | Location of gains (losses) | 1Q26 | 1Q25 | ||||||||
| Interest rate fair value hedges of available-for-sale securities | |||||||||||
| Derivative | Interest income | $ | 218 | $ | (398) | ||||||
| Hedged item | Interest income | (218) | 398 | ||||||||
| Interest rate fair value hedges of long-term debt | |||||||||||
| Derivative | Interest expense | (142) | 411 | ||||||||
| Hedged item | Interest expense | 142 | (411) | ||||||||
| Interest rate fair value hedges of loans | |||||||||||
| Derivative | Interest income | (5) | (11) | ||||||||
| Hedged item | Interest income | 5 | 11 | ||||||||
| Gain (loss) recognized in the consolidated income statement due to fair value hedging relationships | $ | — | $ | — | |||||||
Notes to Consolidated Financial Statements (continued) | ||
| Impact of derivative instruments used in net investment and cash flow hedging relationships | ||||||||||||||||||||
| (in millions) | ||||||||||||||||||||
| Gain or (loss) recognized in accumulated OCI on derivatives | Location of gain or (loss) reclassified from accumulated OCI into income | Gain or (loss) reclassified from accumulated OCI into income | ||||||||||||||||||
| 1Q26 | 1Q25 | 1Q26 | 1Q25 | |||||||||||||||||
| Net investment hedges | ||||||||||||||||||||
| FX contracts | $ | 222 | $ | (376) | Investment and other revenue | $ | — | $ | 21 | |||||||||||
| Cash flow hedges | ||||||||||||||||||||
| FX contracts | $ | (16) | $ | 1 | Staff expense and investment and other revenue | $ | (5) | $ | (3) | |||||||||||
| Interest rate contracts | (15) | — | Net interest income | (1) | — | |||||||||||||||
| Total | $ | (31) | $ | 1 | $ | (6) | $ | (3) | ||||||||||||
| Hedged items in fair value hedging relationships | Carrying amount of hedged asset or liability | Hedge accounting basis adjustment increase (decrease) (a) | |||||||||||||||
| (in millions) | March 31, 2026 | Dec. 31, 2025 | March 31, 2026 | Dec. 31, 2025 | |||||||||||||
Available-for-sale securities (b) | $ | 52,428 | $ | 46,420 | $ | (1,099) | $ | (910) | |||||||||
Loans (c) | $ | 2,891 | $ | 2,939 | $ | (4) | $ | (9) | |||||||||
| Long-term debt | $ | 29,483 | $ | 28,375 | $ | (405) | $ | (264) | |||||||||
Notes to Consolidated Financial Statements (continued) | ||
| Impact of derivative instruments on the balance sheet | Notional value | Asset derivatives fair value | Liability derivatives fair value | |||||||||||||||||||||||
| March 31, 2026 | Dec. 31, 2025 | March 31, 2026 | Dec. 31, 2025 | March 31, 2026 | Dec. 31, 2025 | |||||||||||||||||||||
| (in millions) | ||||||||||||||||||||||||||
Derivatives designated as hedging instruments: (a)(b) | ||||||||||||||||||||||||||
| Interest rate contracts | $ | 89,126 | $ | 74,525 | $ | 302 | $ | 305 | $ | 13 | $ | — | ||||||||||||||
| Foreign exchange contracts | 11,847 | 11,817 | 230 | 53 | 39 | 81 | ||||||||||||||||||||
| Total derivatives designated as hedging instruments | $ | 532 | $ | 358 | $ | 52 | $ | 81 | ||||||||||||||||||
Derivatives not designated as hedging instruments: (b)(c) | ||||||||||||||||||||||||||
| Interest rate contracts | $ | 210,564 | $ | 202,299 | $ | 843 | $ | 718 | $ | 964 | $ | 973 | ||||||||||||||
| Foreign exchange contracts | 1,486,448 | 1,131,252 | 8,812 | 5,517 | 8,724 | 5,351 | ||||||||||||||||||||
| Equity contracts | 6,199 | 6,366 | 310 | 21 | 18 | 44 | ||||||||||||||||||||
| Credit contracts | 249 | 279 | — | — | 11 | 13 | ||||||||||||||||||||
| Total derivatives not designated as hedging instruments | $ | 9,965 | $ | 6,256 | $ | 9,717 | $ | 6,381 | ||||||||||||||||||
Total derivatives fair value (d) | $ | 10,497 | $ | 6,614 | $ | 9,769 | $ | 6,462 | ||||||||||||||||||
Effect of master netting agreements (e) | (6,905) | (5,224) | (7,404) | (3,831) | ||||||||||||||||||||||
| Fair value after effect of master netting agreements | $ | 3,592 | $ | 1,390 | $ | 2,365 | $ | 2,631 | ||||||||||||||||||
| Foreign exchange revenue and other trading revenue | ||||||||
| (in millions) | 1Q26 | 1Q25 | ||||||
| Foreign exchange revenue | $ | 232 | $ | 156 | ||||
| Other trading revenue | 94 | 71 | ||||||
Notes to Consolidated Financial Statements (continued) | ||
| March 31, 2026 | Dec. 31, 2025 | |||||||
| (in millions) | ||||||||
Aggregate fair value of OTC derivatives in net liability positions (a) | $ | 1,536 | $ | 381 | ||||
| Collateral posted | $ | 1,949 | $ | 1,009 | ||||
Potential close-out exposures (fair value) (a) | ||||||||
| March 31, 2026 | Dec. 31, 2025 | |||||||
| (in millions) | ||||||||
If The Bank of New York Mellon’s rating changed to: (b) | ||||||||
| A3/A- | $ | 13 | $ | 61 | ||||
| Baa2/BBB | $ | 366 | $ | 252 | ||||
| Ba1/BB+ | $ | 1,895 | $ | 714 | ||||
Notes to Consolidated Financial Statements (continued) | ||
Notes to Consolidated Financial Statements (continued) | ||
Offsetting of derivative liabilities and financial liabilities at March 31, 2026 | Net liabilities recognized on the balance sheet | |||||||||||||||||||
| Gross liabilities recognized | Amounts offset on the balance sheet | Amount not offset on the balance sheet | ||||||||||||||||||
| (in millions) | (a) | Net amount | ||||||||||||||||||
Derivatives subject to netting arrangements: | ||||||||||||||||||||
| Interest rate contracts | $ | 774 | $ | 477 | $ | 297 | $ | 30 | $ | 267 | ||||||||||
| Foreign exchange contracts | 8,332 | 6,912 | 1,420 | 387 | 1,033 | |||||||||||||||
| Equity and other contracts | 15 | 15 | — | — | — | |||||||||||||||
Total derivatives subject to netting arrangements | 9,121 | 7,404 | 1,717 | 417 | 1,300 | |||||||||||||||
Total derivatives not subject to netting arrangements | 648 | — | 648 | — | 648 | |||||||||||||||
| Total derivatives | 9,769 | 7,404 | 2,365 | 417 | 1,948 | |||||||||||||||
| Repurchase agreements | 270,126 | 255,171 | (b) | 14,955 | 14,955 | — | ||||||||||||||
| Securities lending | 15,458 | 10,907 | 4,551 | 4,467 | 84 | |||||||||||||||
| Total | $ | 295,353 | $ | 273,482 | $ | 21,871 | $ | 19,839 | $ | 2,032 | ||||||||||
Notes to Consolidated Financial Statements (continued) | ||
| Repurchase agreements and securities lending transactions accounted for as secured borrowings | |||||||||||||||||||||||||||||||||||
| March 31, 2026 | Dec. 31, 2025 | ||||||||||||||||||||||||||||||||||
| Remaining contractual maturity | Total | Remaining contractual maturity | Total | ||||||||||||||||||||||||||||||||
| (in millions) | Overnight and continuous | Up to 30 days | 30-90 days | Over 90 days | Overnight and continuous | Up to 30 days | 30-90 days | Over 90 days | |||||||||||||||||||||||||||
| Repurchase agreements: | |||||||||||||||||||||||||||||||||||
| U.S. Treasury | $ | 191,031 | $ | 100 | $ | 1,361 | $ | 1,918 | $ | 194,410 | $ | 207,600 | $ | 475 | $ | 1,420 | $ | 2,101 | $ | 211,596 | |||||||||||||||
| Agency RMBS | 68,591 | 150 | 236 | 270 | 69,247 | 51,130 | 136 | 237 | 441 | 51,944 | |||||||||||||||||||||||||
| Corporate bonds | 71 | 87 | 952 | 886 | 1,996 | 119 | 55 | 1,256 | 557 | 1,987 | |||||||||||||||||||||||||
| Sovereign debt/sovereign guaranteed | 861 | 111 | 122 | — | 1,094 | 541 | 416 | — | — | 957 | |||||||||||||||||||||||||
| State and political subdivisions | 30 | 17 | 268 | 531 | 846 | 17 | 25 | 361 | 328 | 731 | |||||||||||||||||||||||||
| U.S. government agencies | 152 | — | 13 | 77 | 242 | 72 | 4 | 3 | 61 | 140 | |||||||||||||||||||||||||
| Other debt securities | 247 | 291 | 201 | 104 | 843 | 71 | 370 | 246 | 136 | 823 | |||||||||||||||||||||||||
| Equity securities | — | 9 | 869 | 570 | 1,448 | — | 15 | 628 | 531 | 1,174 | |||||||||||||||||||||||||
| Total | $ | 260,983 | $ | 765 | $ | 4,022 | $ | 4,356 | $ | 270,126 | $ | 259,550 | $ | 1,496 | $ | 4,151 | $ | 4,155 | $ | 269,352 | |||||||||||||||
| Securities lending: | |||||||||||||||||||||||||||||||||||
| U.S. Treasury | $ | 1,304 | $ | — | $ | — | $ | — | $ | 1,304 | $ | 754 | $ | — | $ | — | $ | — | $ | 754 | |||||||||||||||
| Corporate bonds | 725 | — | — | — | 725 | 783 | — | — | — | 783 | |||||||||||||||||||||||||
| Agency RMBS | 56 | — | — | — | 56 | 102 | — | — | — | 102 | |||||||||||||||||||||||||
| U.S. government agencies | 17 | — | — | — | 17 | 2 | — | — | — | 2 | |||||||||||||||||||||||||
| Equity securities | 13,356 | — | — | — | 13,356 | 11,199 | — | — | — | 11,199 | |||||||||||||||||||||||||
| Total | $ | 15,458 | $ | — | $ | — | $ | — | $ | 15,458 | $ | 12,840 | $ | — | $ | — | $ | — | $ | 12,840 | |||||||||||||||
| Total secured borrowings | $ | 276,441 | $ | 765 | $ | 4,022 | $ | 4,356 | $ | 285,584 | $ | 272,390 | $ | 1,496 | $ | 4,151 | $ | 4,155 | $ | 282,192 | |||||||||||||||
Notes to Consolidated Financial Statements (continued) | ||
| Off-balance sheet credit risks | March 31, 2026 | Dec. 31, 2025 | ||||||
| (in millions) | ||||||||
| Lending commitments | $ | 47,783 | $ | 49,433 | ||||
Standby letters of credit (“SBLC”) (a) | 1,571 | 1,659 | ||||||
| Commercial letters of credit | 28 | 78 | ||||||
Securities lending indemnifications (b)(c) | 699,472 | 666,395 | ||||||
| Standby letters of credit | March 31, 2026 | Dec. 31, 2025 | ||||||
| Investment grade | 76 | % | 78 | % | ||||
| Non-investment grade | 24 | % | 22 | % | ||||
Notes to Consolidated Financial Statements (continued) | ||
Financial institutions portfolio exposure (in billions) | March 31, 2026 | ||||||||||
Loans | Unfunded commitments | Total exposure | |||||||||
| Securities industry | $ | 14.5 | $ | 13.0 | $ | 27.5 | |||||
| Asset managers | 2.2 | 8.0 | 10.2 | ||||||||
| Banks | 8.1 | 1.6 | 9.7 | ||||||||
| Insurance | — | 4.2 | 4.2 | ||||||||
| Government | — | 0.6 | 0.6 | ||||||||
| Other | 0.7 | 1.0 | 1.7 | ||||||||
| Total | $ | 25.5 | $ | 28.4 | $ | 53.9 | |||||
Commercial portfolio exposure (in billions) | March 31, 2026 | ||||||||||
Loans | Unfunded commitments | Total exposure | |||||||||
| Manufacturing | $ | 0.5 | $ | 4.3 | $ | 4.8 | |||||
| Services and other | 0.8 | 3.7 | 4.5 | ||||||||
| Energy and utilities | 0.1 | 4.4 | 4.5 | ||||||||
| Media and telecom | — | 0.8 | 0.8 | ||||||||
| Total | $ | 1.4 | $ | 13.2 | $ | 14.6 | |||||
Notes to Consolidated Financial Statements (continued) | ||
Notes to Consolidated Financial Statements (continued) | ||
Notes to Consolidated Financial Statements (continued) | ||
Notes to Consolidated Financial Statements (continued) | ||
Notes to Consolidated Financial Statements (continued) | ||
Notes to Consolidated Financial Statements (continued) | ||
For the quarter ended March 31, 2026 | Securities Services | Market and Wealth Services | Investment and Wealth Management | Other | Consolidated | |||||||||||||||||||||||||||
| (dollars in millions) | ||||||||||||||||||||||||||||||||
| Total fee and other revenue | $ | 1,921 | $ | 1,321 | $ | 772 | (a) | $ | 27 | $ | 4,041 | (a) | ||||||||||||||||||||
| Net interest income | 757 | 571 | 53 | (11) | 1,370 | |||||||||||||||||||||||||||
| Total revenue | 2,678 | 1,892 | 825 | (a) | 16 | 5,411 | (a) | |||||||||||||||||||||||||
| Provision for credit losses | (11) | (6) | 9 | 1 | (7) | |||||||||||||||||||||||||||
| Noninterest expense | 1,648 | 937 | 726 | 89 | 3,400 | |||||||||||||||||||||||||||
| Income (loss) before income taxes | $ | 1,041 | $ | 961 | $ | 90 | (a) | $ | (74) | $ | 2,018 | (a) | ||||||||||||||||||||
Pre-tax operating margin (b) | 39 | % | 51 | % | 11 | % | N/M | 37 | % | |||||||||||||||||||||||
| Average assets | $ | 218,500 | $ | 147,689 | $ | 27,261 | $ | 68,478 | $ | 461,928 | ||||||||||||||||||||||
For the quarter ended March 31, 2025 | Securities Services | Market and Wealth Services | Investment and Wealth Management | Other | Consolidated | |||||||||||||||||||||||||||
| (dollars in millions) | ||||||||||||||||||||||||||||||||
| Total fee and other revenue | $ | 1,658 | $ | 1,201 | $ | 738 | (a) | $ | 34 | $ | 3,631 | (a) | ||||||||||||||||||||
| Net interest income (expense) | 630 | 497 | 41 | (9) | 1,159 | |||||||||||||||||||||||||||
| Total revenue | 2,288 | 1,698 | 779 | (a) | 25 | 4,790 | (a) | |||||||||||||||||||||||||
| Provision for credit losses | 8 | 4 | 2 | 4 | 18 | |||||||||||||||||||||||||||
| Noninterest expense | 1,569 | 881 | 714 | 88 | 3,252 | |||||||||||||||||||||||||||
| Income (loss) before income taxes | $ | 711 | $ | 813 | $ | 63 | (a) | $ | (67) | $ | 1,520 | (a) | ||||||||||||||||||||
Pre-tax operating margin (b) | 31 | % | 48 | % | 8 | % | N/M | 32 | % | |||||||||||||||||||||||
| Average assets | $ | 194,418 | $ | 129,727 | $ | 26,402 | $ | 65,297 | $ | 415,844 | ||||||||||||||||||||||
| Non-cash investing and financing transactions | Three months ended March 31, | ||||||||||
| (in millions) | 2026 | 2025 | |||||||||
| Transfers from loans to other assets for other real estate owned | $ | — | $ | 1 | |||||||
| Change in assets of consolidated investment management funds | 95 | 51 | |||||||||
| Change in liabilities of consolidated investment management funds | 6 | 8 | |||||||||
| Change in nonredeemable noncontrolling interests of consolidated investment management funds | 47 | 51 | |||||||||
| Investment securities purchased not settled | 1,076 | 102 | |||||||||
| Premises and equipment/operating lease obligations | 113 | 7 | |||||||||
| Excise tax on share repurchases | 2 | 2 | |||||||||
| Item 4. Controls and Procedures | ||
Forward-looking Statements | ||
Forward-looking Statements (continued) | ||
Forward-looking Statements (continued) | ||
Part II – Other Information | ||
Share repurchases – first quarter of 2026 | Total shares repurchased as part of a publicly announced plan or program | Maximum approximate dollar value of shares that may yet be purchased under the publicly announced plans or programs at March 31, 2026 | ||||||||||||||||||||||||
| (dollars in millions, except per share amounts; common shares in thousands) | Total shares repurchased | Average price per share | ||||||||||||||||||||||||
| January 2026 | 1,378 | $ | 120.58 | 1,378 | $ | 1,631 | ||||||||||||||||||||
| February 2026 | 5,702 | 118.86 | 5,702 | 953 | ||||||||||||||||||||||
| March 2026 | 1,177 | 118.26 | 1,177 | 814 | ||||||||||||||||||||||
First quarter of 2026 (a) | 8,257 | $ | 119.06 | 8,257 | $ | 814 | (b) | |||||||||||||||||||
Index to Exhibits | ||
| Exhibit | Description | Method of Filing | ||||||||||||
| 3.1 | Restated Certificate of Incorporation of The Bank of New York Mellon Corporation. | |||||||||||||
| 3.2 | Certificate of Amendment to The Bank of New York Mellon Corporation’s Restated Certificate of Incorporation, as filed with the Secretary of State of the State of Delaware on April 9, 2019. | |||||||||||||
| 3.3 | Certificate of Designations of The Bank of New York Mellon Corporation with respect to the Series A Noncumulative Preferred Stock, dated June 15, 2007. | |||||||||||||
| 3.4 | Certificate of Designations of The Bank of New York Mellon Corporation with respect to the Series F Noncumulative Perpetual Preferred Stock, dated July 29, 2016. | |||||||||||||
| 3.5 | Certificate of Designations of The Bank of New York Mellon Corporation with respect to the Series H Noncumulative Perpetual Preferred Stock, dated Nov. 2, 2020. | |||||||||||||
| 3.6 | Certificate of Designations of The Bank of New York Mellon Corporation with respect to the Series I Noncumulative Perpetual Preferred Stock, dated Nov. 16, 2021. | |||||||||||||
| 3.7 | Certificate of Designations of The Bank of New York Mellon Corporation with respect to the Series J Noncumulative Perpetual Preferred Stock, dated March 7, 2025. | |||||||||||||
| 3.8 | Certificate of Designations of The Bank of New York Mellon Corporation with respect to the Series K Noncumulative Perpetual Preferred Stock, dated March 13, 2025. | |||||||||||||
| 3.9 | Certificate of Designations of The Bank of New York Mellon Corporation with respect to the Series L Noncumulative Perpetual Preferred Stock, dated Sept. 9, 2025. | |||||||||||||
| 3.10 | Certificate of Designations of The Bank of New York Mellon Corporation with respect to the Series M Noncumulative Perpetual Preferred Stock, dated March 4, 2026. | |||||||||||||
| 3.11 | Amended and Restated By-Laws of The Bank of New York Mellon Corporation, as amended and restated on Oct. 31, 2025. | |||||||||||||
Index to Exhibits (continued) | ||
| Exhibit | Description | Method of Filing | ||||||||||||
| 4.1 | None of the instruments defining the rights of holders of long-term debt of the Parent or any of its subsidiaries represented long-term debt in excess of 10% of the total assets of the Company as of March 31, 2026. The Company hereby agrees to furnish to the Securities and Exchange Commission, upon request, a copy of any such instrument. | N/A | ||||||||||||
| 22.1 | Subsidiary Issuer of Guaranteed Securities. | |||||||||||||
| 31.1 | Certification of the Chief Executive Officer pursuant to Rule 13a-14(a), as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. | |||||||||||||
| 31.2 | Certification of the Chief Financial Officer pursuant to Rule 13a-14(a), as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. | |||||||||||||
| 32.1 | Certification of the Chief Executive Officer pursuant to 18 U.S.C. §1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002. | |||||||||||||
| 32.2 | Certification of the Chief Financial Officer pursuant to 18 U.S.C. §1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002. | |||||||||||||
| 101.INS | Inline XBRL Instance Document. | The instance document does not appear in the interactive data file because its XBRL tags are embedded within the inline XBRL document. | ||||||||||||
| 101.SCH | Inline XBRL Taxonomy Extension Schema Document. | Filed herewith. | ||||||||||||
| 101.CAL | Inline XBRL Taxonomy Extension Calculation Linkbase Document. | Filed herewith. | ||||||||||||
| 101.DEF | Inline XBRL Taxonomy Extension Definition Linkbase Document. | Filed herewith. | ||||||||||||
| 101.LAB | Inline XBRL Taxonomy Extension Label Linkbase Document. | Filed herewith. | ||||||||||||
| 101.PRE | Inline XBRL Taxonomy Extension Presentation Linkbase Document. | Filed herewith. | ||||||||||||
| 104 | The cover page of The Bank of New York Mellon Corporation’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2026, formatted in inline XBRL. | The cover page interactive data file is embedded within the inline XBRL document and included in Exhibit 101. | ||||||||||||
| THE BANK OF NEW YORK MELLON CORPORATION | |||||
| (Registrant) | |||||
| Date: May 1, 2026 | By: | /s/ Kurtis R. Kurimsky | |||||||||
| Kurtis R. Kurimsky | |||||||||||
| Corporate Controller | |||||||||||
| (Duly Authorized Officer and | |||||||||||
| Principal Accounting Officer of | |||||||||||
| the Registrant) | |||||||||||
| /s/ Robin Vince | |||||
| Name: Robin Vince | |||||
| Title: Chief Executive Officer | |||||
| /s/ Dermot McDonogh | |||||
| Name: Dermot McDonogh | |||||
| Title: Chief Financial Officer | |||||
| Dated: May 1, 2026 | /s/ Robin Vince | |||||||||||||
| Name: | Robin Vince | |||||||||||||
| Title: | Chief Executive Officer | |||||||||||||
| Dated: May 1, 2026 | /s/ Dermot McDonogh | |||||||||||||
| Name: | Dermot McDonogh | |||||||||||||
| Title: | Chief Financial Officer | |||||||||||||