Bank of New York Mellon Corp - FORM 8-K - EX-99.2 - EXHIBIT 99.2

Attached files

file	filename
8-K - FORM 8-K - Bank of New York Mellon Corp	form8-k_earningsxjuly21.htm
EX-99.3 - EXHIBIT 99.3 - Bank of New York Mellon Corp	ex993_keyfacts2q15.htm
EX-99.1 - EXHIBIT 99.1 - Bank of New York Mellon Corp	ex991_earningsrelease2q15.htm
EX-99.4 - EXHIBIT 99.4 - Bank of New York Mellon Corp	ex994quarterlyhighlights.htm

The Bank of New York Mellon Corporation

Quarterly Financial Trends

July 21, 2015




Table of Contents



Consolidated Results		Page(s)

Consolidated Corporate Earnings - Quarterly Trend		3
Fee and Other Revenue		4
Average Balances and Interest Rates		5-6
Noninterest Expense		7
Assets Under Management, Custody and/or Administration and Securities Lending; Key Market Metrics		8
Assets Under Management Net Flows		9

Business Segment Results

Investment Management Business - Quarterly Trend		10
Investment Services Business - Quarterly Trend		11
Other Segment - Quarterly Trend		12
Full Year Trends		13


Nonperforming Assets		14
Allowance for Credit Losses, Provision and Net Charge-offs		15
Notes		16

THE BANK OF NEW YORK MELLON CORPORATION - CONSOLIDATED CORPORATE EARNINGS - 10 Quarter Trend



	2013												2014												2015
(dollar amounts in millions unless otherwise noted)	1st Qtr			2nd Qtr			3rd Qtr			4th Qtr			1st Qtr			2nd Qtr			3rd Qtr			4th Qtr			1st Qtr			2nd Qtr
Revenue:
Investment services fees
Asset servicing	$	969		$	988		$	964		$	984		$	1,009		$	1,022		$	1,025		$	1,019		$	1,038		$	1,060
Issuer services	237			294			322			237			229			231			315			193			232			234
Clearing services	304			321			315			324			325			326			337			347			344			347
Treasury services	141			139			137			137			136			141			142			145			137			144
Total investment services fees	1,651			1,742			1,738			1,682			1,699			1,720			1,819			1,704			1,751			1,785
Investment management and performance fees (a)	822			848			821			904			843			883			881			885			867			878
Foreign exchange & other trading revenue	161			207			160			146			136			130			153			151			229			187
Distribution and servicing	49			45			43			43			43			43			44			43			41			39
Financing-related fees	41			44			44			43			38			44			44			43			40			58
Investment and other income (a)(b)	88			285			151			(43		)	102			142			890			78			60			104
Total fee revenue (a)(b)	2,812			3,171			2,957			2,775			2,861			2,962			3,831			2,904			2,988			3,051
Net securities gains (losses)	48			32			22			39			22			18			20			31			24			16
Total fee and other revenue (a)(b)	2,860			3,203			2,979			2,814			2,883			2,980			3,851			2,935			3,012			3,067
Income (loss) of consolidated investment management funds (a)	50			65			32			36			36			46			39			42			52			40
Net interest revenue	719			757			772			761			728			719			721			712			728			779
Total revenue (a)(b)	3,629			4,025			3,783			3,611			3,647			3,745			4,611			3,689			3,792			3,886
Provision for credit losses	(24		)	(19		)	2			6			(18		)	(12		)	(19		)	1			2			(6		)
Noninterest expenses	2,703			2,716			2,682			2,793			2,676			2,749			2,673			2,651			2,637			2,603
Amortization of intangible assets	86			93			81			82			75			75			75			73			66			65
Merger & integration, litigation and restructuring charges	39			13			16			2			(12		)	122			220			800			(3		)	59
Total noninterest expense	2,828			2,822			2,779			2,877			2,739			2,946			2,968			3,524			2,700			2,727
Income (loss) from continuing operations before taxes (b)	825			1,222			1,002			728			926			811			1,662			164			1,090			1,165
Provision for income taxes (b)	1,062			339			19			172			232			217			556			(93		)	280			276
Net income (loss) from continuing operations (b)	(237		)	883			983			556			694			594			1,106			257			810			889
Net income (loss) attributable to noncontrolling interest (a)(c)	(16		)	(40		)	(8		)	(17		)	(20		)	(17		)	(23		)	(24		)	(31		)	(36		)
Preferred stock dividends	(13		)	(12		)	(13		)	(26		)	(13		)	(23		)	(13		)	(24		)	(13		)	(23		)
Net income (loss) applicable to common shareholders of The Bank of New York Mellon Corporation (b)	(266		)	831			962			513			661			554			1,070			$	209		$	766		830
Earnings per share (b)(d)	$	(0.23	)	$	0.71		$	0.82		$	0.44		$	0.57		$	0.48		$	0.93		$	0.18		$	0.67		$	0.73

Pre-tax operating margin - GAAP (a)	23		%	30		%	26		%	20		%	25		%	22		%	36		%	4		%	29		%	30		%
Non-GAAP (a)(e)	27		%	28		%	29		%	26		%	27		%	30		%	29		%	28		%	30		%	33		%
Return on common equity (annualized) - GAAP	N/M			9.7		%	11.1		%	5.7		%	7.4		%	6.1		%	11.6		%	2.2		%	8.8		%	9.4		%
Return on tangible common equity (annualized) - Non-GAAP	N/M			25.0		%	28.3		%	14.3		%	17.6		%	14.5		%	26.2		%	5.9		%	20.3		%	21.5		%
Percent of non-US total revenue (f)	35		%	36		%	38		%	39		%	37		%	38		%	43		%	35		%	36		%	36		%
(a) The first quarter of 2015 was restated to reflect the retrospective application of adopting new accounting guidance related to Consolidations (ASU 2015-02). For additional information, see page 24 of the Quarterly Earnings Release dated July 21, 2015, for the second quarter of 2015 (the "Quarterly Earnings Release"), furnished as an exhibit to the Current Report on Form 8-K to which these Quarterly Financial Trends are furnished as an exhibit.
(b) In the 1st quarter 2014, prior periods were restated to reflect the retrospective application of adopting new accounting guidance related to our investments in qualified affordable housing projects (ASU 2014-01).
(c) Primarily attributable to noncontrolling interests related to consolidated investment management funds.
(d) The 1st quarter 2013 includes a $0.73 charge related to the disallowance of certain foreign tax credits. The 2nd quarter 2013 includes a $0.09 gain related to an equity investment. The 3rd quarter 2013 includes a $0.22 benefit related to the U.S. Tax Court's partial reconsideration of a tax decision disallowing certain foreign tax credits. The 4th quarter 2013 includes a $0.10 loss related to an equity investment. The 2nd quarter 2014 includes a $0.14 charge related to severance and certain investment management funds. The 3rd quarter 2014 includes a $0.27 gain related to the sale of an investment in Wing Hang Bank, $0.18 related to a gain on the sale of the One Wall Street building and a $0.16 charge related to litigation and restructuring. The 4th quarter 2014 includes a $0.13 benefit primarily related to a tax carryback claim, and a $0.53 charge related to litigation and restructuring. The 2nd quarter 2015 includes a $0.03 charge related to litigation and restructuring.
(e) Non-GAAP excludes gain (loss) related to equity investment, net income attributable to noncontrolling interests of consolidated investment management funds, the gains on the sales of our investment in Wing Hang Bank and the One Wall Street building, M&I, litigation and restructuring charges, a charge (recovery) related to investment management funds, net of incentives, amortization of intangible assets, and the benefit primarily related to a tax carryback claim, if applicable. See "Supplemental information - Explanation of GAAP and Non-GAAP financial measures" beginning on page 25 of the Quarterly Earnings Release.
(f) Includes fee revenue, net interest revenue and income from consolidated investment management funds, net of net income attributable to noncontrolling interests.
Note: See pages 4 through 7 for additional details of revenue/expense items impacting consolidated results.
N/M - Not meaningful

THE BANK OF NEW YORK MELLON CORPORATION

FEE AND OTHER REVENUE - 10 Quarter Trend



	2013												2014												2015
(dollar amounts in millions unless otherwise noted)	1st Qtr			2nd Qtr			3rd Qtr			4th Qtr			1st Qtr			2nd Qtr			3rd Qtr			4th Qtr			1st Qtr			2nd Qtr
Investment services fees:
Asset servicing	$	930		$	938		$	929		$	953		$	971		$	976		$	988		$	982		$	995		$	1,011
Securities lending	39			50			35			31			38			46			37			37			43			49
Issuer services	237			294			322			237			229			231			315			193			232			234
Clearing services	304			321			315			324			325			326			337			347			344			347
Treasury services	141			139			137			137			136			141			142			145			137			144
Total investment services fees	1,651			1,742			1,738			1,682			1,699			1,720			1,819			1,704			1,751			1,785
Investment management and performance fees (a)	822			848			821			904			843			883			881			885			867			878
Foreign exchange and other trading revenue	161			207			160			146			136			130			153			151			229			187
Distribution and servicing	49			45			43			43			43			43			44			43			41			39
Financing-related fees	41			44			44			43			38			44			44			43			40			58
Investment and other income (a)	88			285			151			(43		)	102			142			890			78			60			104
Total fee revenue (a)	$	2,812		$	3,171		$	2,957		$	2,775		$	2,861		$	2,962		$	3,831		2,904			2,988			3,051
Net securities gains	48			32			22			39			22			18			20			31			24			16
Total fee and other revenue (a)	$	2,860		$	3,203		$	2,979		$	2,814		$	2,883		$	2,980		$	3,851		$	2,935		$	3,012		$	3,067
Fee revenue as a percentage of total revenue - excluding net securities gains	79		%	79		%	79		%	78		%	79		%	79		%	83		%	79		%	79		%	79		%

(a) The first quarter of 2015 was restated to reflect the retrospective application of adopting new accounting guidance related to Consolidations (ASU 2015-02). See page 24 of the Quarterly Earnings Release for additional information.

THE BANK OF NEW YORK MELLON CORPORATION

Average Balances and Interest Rates



	2013																				2014
(dollar amounts in millions)	March 31					June 30					September 30					December 31					March 31
	Average balance			Average rate		Average balance			Average rate		Average balance			Average rate		Average balance			Average rate		Average balance			Average rate
Assets	Average balance			Average rate		Average balance			Average rate		Average balance			Average rate		Average balance			Average rate		Average balance			Average rate
Interest-earning assets:
Interest-bearing deposits with banks (primarily foreign)	$	40,967		0.70	%	$	42,772		0.64	%	$	41,597		0.66	%	$	39,563		0.71	%	$	41,617		0.71	%
Interest-bearing deposits with Federal Reserve & other central banks	63,240			0.20		55,911			0.22		65,704			0.23		83,232			0.23		74,399			0.25
Federal funds sold and securities purchased under resale agreements	7,478			0.54		7,878			0.52		8,864			0.56		9,403			0.61		11,118			0.61
Margin loans	13,346			1.17		13,906			1.14		14,653			1.10		15,224			1.08		15,840			1.07
Non-margin loans:
Domestic offices	21,358			2.38		21,689			2.40		21,378			2.40		22,538			2.28		22,002			2.31
Foreign offices	11,575			1.36		12,318			1.32		12,225			1.31		13,006			1.22		13,805			1.26
Total non-margin loans	32,933			2.02		34,007			2.01		33,603			2.01		35,544			1.89		35,807			1.90
Securities
U.S. government obligations	18,814			1.54		19,887			1.62		16,540			1.76		13,418			1.96		17,213			1.61
U.S. government agency obligations	42,397			1.85		47,631			1.80		45,745			2.02		43,465			2.00		42,710			1.87
Obligations of states and political subdivisions	6,194			2.38		6,377			2.26		6,518			2.47		6,757			2.76		6,691			2.50
Other securities	34,507			2.03		33,243			1.93		32,403			1.92		33,000			1.78		33,920			1.64
Trading securities	5,878			2.40		6,869			2.33		5,523			2.83		6,173			2.82		5,217			2.60
Total securities	107,790			1.91		114,007			1.86		106,729			2.02		102,813			1.97		105,751			1.83
Total interest-earning assets	265,754			1.26		268,481			1.27		271,150			1.28		285,779			1.21		284,532			1.17
Allowance for loan losses	(264		)			(237		)			(212		)			(207		)			(210		)
Cash and due from banks	4,534					5,060					6,400					6,623					5,886
Other assets	52,137					52,627					52,549					52,434					53,430
Total Asset Consol VIE FAS 167	11,503					11,524					11,863					11,506					11,354
Total Assets	$	333,664				$	337,455				$	341,750				$	356,135				$	354,992

Liabilities and total equity
Interest-bearing liabilities:
Money market rate accounts and demand deposit accounts	$	8,778		0.19	%	$	8,183		0.22	%	$	8,626		0.16	%	$	11,042		0.12	%	$	9,333		0.11	%
Savings	819			0.29		897			0.24		1,015			0.25		993			0.25		1,034			0.25
Other time deposits	39,091			0.05		41,706			0.04		41,546			0.04		41,523			0.04		41,544			0.04
Foreign offices	99,040			0.08		100,433			0.07		102,360			0.07		103,462			0.06		101,075			0.06
Total interest-bearing deposits	147,728			0.08		151,219			0.07		153,547			0.06		157,020			0.06		152,986			0.06
Federal funds purchased and securities sold under repurchase agreements	9,187			(0.12	)	9,206			(0.28	)	12,164			(0.12	)	13,155			(0.10	)	14,505			(0.13	)
Trading Liabilities	2,552			1.35		3,036			1.40		2,325			1.69		2,534			1.42		1,978			1.59
Other borrowed funds	1,397			0.76		1,443			0.19		2,233			0.19		2,378			0.42		1,137			0.47
Payables to customers and broker-dealers	9,019			0.09		9,073			0.08		8,659			0.09		9,400			0.09		8,883			0.09
Long-term debt	18,878			1.18		19,002			0.94		19,025			1.00		19,501			1.05		20,420			1.09
Total interest-bearing liabilities	188,761			0.20		192,979			0.16		197,953			0.16		203,988			0.17		199,909			0.17
Total noninterest-bearing deposits	70,337					70,648					72,075					79,999					81,430
Other liabilities	27,416					26,779					24,380					23,546					24,608
VIE Liabilities & Obligations FAS 167	10,186					10,242					10,466					10,283					10,128
Total Shareholders' Equity	35,966					35,817					35,826					37,260					37,851
Noncontrolling interest	998					990					1,050					1,059					1,066
Total liabilities and shareholders' equity	$	333,664				$	337,455				$	341,750				$	356,135				$	354,992
Net interest margin - Taxable equivalent basis				1.11	%				1.15	%				1.16	%				1.09	%				1.05	%

Note: Interest and average rates were calculated on a taxable equivalent basis, at tax rates of approximately 35%, using dollar amounts in thousands and the actual number of days in the year.

THE BANK OF NEW YORK MELLON CORPORATION

Average Balances and Interest Rates (continued)



	2014															2015
(dollar amounts in millions)	June 30					September 30					December 31					March 31					June 30
	Average balance			Average rate		Average balance			Average rate		Average balance			Average rate		Average balance			Average rate		Average balance			Average rate
Assets	Average balance			Average rate		Average balance			Average rate		Average balance			Average rate		Average balance			Average rate		Average balance			Average rate
Interest-earning assets:
Interest-bearing deposits with banks (primarily foreign)	$	41,424		0.74	%	$	34,882		0.66	%	$	24,623		0.49	%	$	22,071		0.56	%	$	20,235		0.56	%
Interest-bearing deposits with Federal Reserve & other central banks	85,546			0.26		88,713			0.23		97,440			0.22		81,160			0.23		81,860			0.21
Federal funds sold and securities purchased under resale agreements	13,387			0.58		15,683			0.61		18,536			0.56		20,416			0.59		23,545			0.61
Margin loans	17,050			1.05		18,108			1.04		18,897			1.01		20,051			1.00		20,467			1.01
Non-margin loans:
Domestic offices	22,566			2.30		23,826			2.20		25,103			2.20		25,256			2.14		26,716			2.06
Foreign offices	13,833			1.34		12,901			1.30		12,844			1.21		12,628			1.24		13,893			1.19
Total non-margin loans	36,399			1.94		36,727			1.88		37,947			1.86		37,884			1.84		40,609			1.77
Securities
U.S. government obligations	17,462			1.63		23,067			1.38		24,331			1.48		27,454			1.38		28,331			1.42
U.S. government agency obligations	43,167			1.67		46,186			1.67		49,106			1.70		52,744			1.68		56,332			1.77
Obligations of states and political subdivisions	6,473			2.58		5,830			2.54		5,305			2.61		5,213			2.64		5,021			2.67
Other securities	34,318			1.55		36,972			1.37		38,501			1.23		38,065			1.33		38,957			1.24
Trading securities	5,532			2.19		5,435			2.36		3,922			2.64		3,046			2.46		3,253			2.63
Total securities	106,952			1.71		117,490			1.59		121,165			1.58		126,522			1.57		131,894			1.59
Total interest-earning assets	300,758			1.10		311,603			1.05		318,608			1.02		308,104			1.07		318,610			1.08
Allowance for loan losses	(197		)			(187		)			(186		)			(191		)			(190		)
Cash and due from banks	5,064					6,225					4,715					6,204					6,785
Other assets (a)	52,182					52,526					52,472					51,966					50,808
Total Asset Consol VIE FAS 167 (a)	11,405					10,242					9,623					2,328					2,280
Total Assets (a)	$	369,212				$	380,409				$	385,232				$	368,411				$	378,293

Liabilities and total equity
Interest-bearing liabilities:
Money market rate accounts and demand deposit accounts	$	7,583		0.13	%	7,886			0.14	%	8,869			0.12	%	10,021			0.12	%	10,322			0.13	%
Savings	1,185			0.27		1,258			0.28		1,262			0.30		1,429			0.30		1,326			0.27
Other time deposits	42,824			0.04		41,248			0.04		41,507			0.04		43,259			0.04		46,807			0.03
Foreign offices	111,082			0.06		113,841			0.05		111,511			0.02		104,811			0.03		112,275			—
Total interest-bearing deposits	162,674			0.06		164,233			0.06		163,149			0.03		159,520			0.04		170,730			0.02
Federal funds purchased and securities sold under repurchase agreements	19,030			(0.05	)	20,620			(0.07	)	20,285			(0.05	)	13,877			(0.09	)	16,732			(0.02	)
Trading Liabilities	2,993			0.97		2,806			0.84		1,024			1.44		795			1.07		632			1.84
Other borrowed funds	3,242			0.23		4,587			0.15		5,270			0.25		2,108			0.50		3,795			0.37
Payables to customers and broker-dealers	8,916			0.09		9,705			0.10		10,484			0.08		10,932			0.07		11,234			0.07
Long-term debt	20,361			1.16		20,429			1.12		21,187			1.27		20,199			1.21		20,625			0.99
Total interest-bearing liabilities	217,216			0.17		222,380			0.16		$	221,399		0.16	%	$	207,431		0.15		$	223,748		0.12
Total noninterest-bearing deposits	77,820					82,334					85,330					89,592					84,890
Other liabilities	24,854					27,369					30,743					32,341					29,840
VIE Liabilities & Obligations FAS 167 (a)	10,180					8,879					8,101					1,004					857
Total Shareholders' Equity	38,127					38,313					38,421					37,048					37,829
Noncontrolling interest (a)	1,015					1,134					1,238					995					1,129
Total liabilities and shareholders' equity (a)	$	369,212				$	380,409				$	385,232				$	368,411				$	378,293
Net interest margin - Taxable equivalent basis				0.98	%				0.94	%				0.91	%				0.97	%				1.00	%
(a) The first quarter of 2015 was restated to reflect the retrospective application of adopting new accounting guidance related to Consolidations (ASU 2015-02). For additional information, see page 24 of the Quarterly Earnings Release dated July 21, 2015, for the second quarter of 2015 (the "Quarterly Earnings Release"), furnished as an exhibit to the Current Report on Form 8-K to which these Quarterly Financial Trends are furnished as an exhibit.

Note: Interest and average rates were calculated on a taxable equivalent basis, at tax rates of approximately 35%, using dollar amounts in thousands and the actual number of days in the year.

THE BANK OF NEW YORK MELLON CORPORATION

NONINTEREST EXPENSE - 10 Quarter Trend



	2013								2014									2015
(dollar amounts in millions)	1st Qtr		2nd Qtr		3rd Qtr		4th Qtr		1st Qtr			2nd Qtr		3rd Qtr		4th Qtr		1st Qtr			2nd Qtr
Staff:
Compensation	$	885	$	891	$	915	$	929	$	925		$	903	$	909	$	893	$	871		$	877
Incentives	338		364		339		343		359			313		340		319		425			349
Employee benefits	249		254		262		250		227			223		228		206		189			208
Total staff	1,472		1,509		1,516		1,522		1,511			1,439		1,477		1,418		1,485			1,434
Professional, legal and other purchased services	295		317		296		344		312			314		323		390		302			299
Software and equipment	228		238		226		241		237			236		234		235		228			228
Net occupancy	163		159		153		154		154			152		154		150		151			149
Distribution and servicing	106		111		108		110		107			112		107		102		98			96
Business development	68		90		63		96		64			68		61		75		61			72
Sub-custodian	64		77		71		68		68			81		67		70		70			75
Other	307		215		249		258		223			347		250		211		242			250
Amortization of intangible assets	86		93		81		82		75			75		75		73		66			65
Merger & integration, litigation and restructuring charges	39		13		16		2		(12		)	122		220		800		(3		)	59
Total noninterest expense	$	2,828	$	2,822	$	2,779	$	2,877	$	2,739		$	2,946	$	2,968	$	3,524	$	2,700		$	2,727

Memo:
Total noninterest expense excluding M&I, litigation, restructuring, amortization of intangible assets and the charge (recovery) related to investment management funds, net of incentives - Non-GAAP	$	2,664	$	2,743	$	2,682	$	2,793	$	2,681		$	2,640	$	2,673	$	2,651	$	2,637		$	2,603

Full-time employees at period-end	49,700		49,800		50,800		51,100		51,400			51,100		50,900		50,300		50,500			50,700

THE BANK OF NEW YORK MELLON CORPORATION

ASSETS UNDER MANAGEMENT, CUSTODY AND/OR ADMINISTRATION AND SECURITIES LENDING - 10 Quarter Trend



	2013												2014												2015
(dollar amounts in billions unless otherwise noted)	1st Qtr			2nd Qtr			3rd Qtr			4th Qtr			1st Qtr			2nd Qtr			3rd Qtr			4th Qtr			1st Qtr			2nd Qtr
Assets under management at period-end: (a)
Institutional	$	939		$	968		$	1,041		$	1,072		$	1,118		$	1,109		$	1,131		$	1,187		$	1,210		$	1,185
Mutual Funds	405			378			407			425			415			440			430			438			445			454
Private Client	79			81			84			86			87			87			85			85			86			85
Assets under management	$	1,423		$	1,427		$	1,532		$	1,583		$	1,620		$	1,636		$	1,646		$	1,710		$	1,741		$	1,724		(b)

AUM at period-end, by product type: (a)
Equity	17		%	17		%	17		%	17		%	17		%	17		%	16		%	16		%	15		%	15		%
Fixed income	15			15			14			14			14			14			13			13			13			13
Index	19			20			20			20			20			21			21			21			22			21
Liability-driven investments (c)	25			25			26			26			27			27			28			29			29			30
Alternative investments	4			4			4			4			4			4			4			4			4			4
Cash	20			19			19			19			18			17			18			17			17			17
Total AUM	100		%	100		%	100		%	100		%	100		%	100		%	100		%	100		%	100		%	100		%	(b)

Assets under custody and/or administration at period-end (in trillions) (d)	$	26.3		$	26.2		$	27.4		$	27.6		$	27.9		$	28.5		$	28.3		$	28.5		$	28.5		$	28.6		(b)
Market value of securities on loan at period-end (e)	$	244		$	255		$	255		$	235		$	264		$	280		$	282		$	289		$	291		$	283
Key Market Metrics
S&P 500 Index (f)	1569			1606			1682			1848			1872			1960			1972			2059			2068			2063
S&P 500 Index - daily average	1514			1609			1675			1769			1835			1900			1976			2009			2064			2102
FTSE 100 Index (f)	6412			6215			6462			6749			6598			6744			6623			6566			6773			6521
FTSE 100 Index-daily average	6300			6438			6530			6612			6680			6764			6756			6526			6793			6920
MSCI World Index (f)	1435			1434			1544			1661			1674			1743			1698			1710			1741			1736
MSCI World Index-daily average	1405			1463			1511			1602			1647			1698			1733			1695			1726			1780
Barclays Capital Global Aggregate BondSM Index (f)(g)	356			343			356			354			365			376			361			357			348			342
NYSE & NASDAQ Share Volume (in billions)	174			186			166			179			196			187			173			198			187			185
JP Morgan G7 Volatility Index - daily average (h)	9.02			9.84			9.72			8.20			7.80			6.22			6.21			8.54			10.40			10.06
Average Fed Funds effective rate	0.14		%	0.12		%	0.09		%	0.09		%	0.07		%	0.09		%	0.09		%	0.10		%	0.11		%	0.13		%
Foreign exchange rates vs. U.S. dollar:
British pound - average rate	$1.55			$1.54			$1.55			$1.62			$1.66			$1.68			$1.67			$1.58			$1.51			$1.53
Euro - average rate	1.32			1.31			1.32			1.36			1.37			1.37			1.33			1.25			1.13			1.11
(a) Excludes securities lending cash management assets and assets managed in the Investment Services business. Also excludes assets under management related to Newton's private client business that was sold in September 2013.
(b) Preliminary.
(c) Includes currency overlay assets under management.
(d) Includes the AUC/A of CIBC Mellon Global Securities Services Company ("CIBC Mellon"), a joint venture with the Canadian Imperial Bank of Commerce, of $1.2 trillion at March 31, 2013, $1.1 trillion at June 30, 2013, $1.2 trillion at Sept. 30, 2013, Dec. 31, 2013, March 31, 2014, June 30, 2014 and Sept. 30, 2014, and $1.1 trillion at Dec. 31, 2014, March 31, 2015, and June 30, 2015.
(e) Represents the total amount of securities on loan managed by the Investment Services business. Excludes securities for which BNY Mellon acts as agent, beginning in the fourth quarter of 2013, on behalf of CIBC Mellon clients, which totaled $62 billion at Dec. 31, 2013, $66 billion at March 31, 2014, $64 billion at June 30, 2014, $65 billion at Sept. 30, 2014 and Dec. 31, 2014, $69 billion at March 31, 2015, and $68 billion at June 30, 2015.
(f) Period end.
(g) Unhedged in U.S. dollar terms.
(h) The JP Morgan G7 Volatility Index is based on the implied volatility in 3-month currency options.

THE BANK OF NEW YORK MELLON CORPORATION

ASSETS UNDER MANAGEMENT NET FLOWS - 10 Quarter Trend



	2013												2014												2015
(dollar amounts in billions)	1st Qtr			2nd Qtr			3rd Qtr			4th Qtr			1st Qtr			2nd Qtr			3rd Qtr			4th Qtr			1st Qtr			2nd Qtr

Assets under management at beginning of period (a)	$	1,380		$	1,423		$	1,427		$	1,532		$	1,583		$	1,620		1,636			$	1,646		$	1,710		$	1,741

Net inflows (outflows):
Long-term:
Equity	1			1			3			(5		)	(1		)	(4		)	(2		)	(4		)	(6		)	(12		)
Fixed income	5			2			(1		)	5			—			(1		)	—			4			4			(2		)
Index	12			8			2			(3		)	—			7			(3		)	1			8			(9		)
Liability-driven investments (b)	22			11			27			4			20			(17		)	18			24			8			5
Alternative investments	—			(1		)	1			1			2			2			—			2			2			3
Total long-term inflows (outflows)	40			21			32			2			21			(13		)	13			27			16			(15		)
Short-term:
Cash	(13		)	(1		)	13			6			(7		)	(18		)	19			5			1			(11		)
Total net inflows (outflows)	27			20			45			8			14			(31		)	32			32			17			(26		)

Net market / currency impact / acquisition	16			(16		)	60			43			23			47			(22		)	32			14			9

Assets under management at end of period (a)	$	1,423		$	1,427		$	1,532		$	1,583		$	1,620		$	1,636		$	1,646		$	1,710		$	1,741		$	1,724		(c)

(a) Excludes securities lending cash management assets and assets managed in the Investment Services business. Also excludes assets under management related to Newton's private client business that was sold in September 2013.
(b) Includes currency overlay assets under management.
(c) Preliminary.

THE BANK OF NEW YORK MELLON CORPORATION

INVESTMENT MANAGEMENT BUSINESS - 10 Quarter Trend



	2013												2014												2015
(dollar amounts in millions unless otherwise noted)	1st Qtr			2nd Qtr			3rd Qtr			4th Qtr			1st Qtr			2nd Qtr			3rd Qtr			4th Qtr			1st Qtr			2nd Qtr
Revenue:
Investment management fees:
Mutual funds	$	299		$	299		$	293		$	303		$	299		$	311		$	315		$	306		$	301		$	307
Institutional clients	360			366			367			385			372			385			382			375			376			376
Wealth management	143			146			145			149			153			156			158			157			158			161
Total investment management fees	802			811			805			837			824			852			855			838			835			844
Performance fees	15			33			10			72			20			29			22			44			15			20
Investment management and performance fees	817			844			815			909			844			881			877			882			850			864
Distribution and servicing	46			44			41			41			40			41			41			40			39			37
Other (a)	18			24			26			43			16			48			16			7			47			25
Total fee and other revenue (a)	881			912			882			993			900			970			934			929			936			926
Net interest revenue	62			63			67			68			70			66			69			69			74			78
Total revenue	943			975			949			1,061			970			1,036			1,003			998			1,010			1,004
Noninterest expense (ex. intangible amortization and the charge (recovery) related to investment management funds, net of incentives)	659			692			689			760			698			725			727			729			721			714
Income before taxes (ex. intangible amortization and the charge (recovery) related to investment management funds)	284			283			260			301			272			311			276			269			289			290
Charge (recovery) related to investment management funds, net of incentives	39			(27		)	—			—			(5		)	109			—			—			—			—
Amortization of intangible assets	39			39			35			35			31			31			31			30			25			25
Income before taxes	$	206		$	271		$	225		$	266		$	246		$	171		$	245		$	239		$	264		$	265

Average assets	$	38,743		$	37,953		$	38,690		$	38,796		$	39,463		$	37,750		$	36,670		$	37,286		$	31,017		$	30,512

Assets under management at period-end (in billions) (b)	$	1,423		$	1,427		$	1,532		$	1,583		$	1,620		$	1,636		$	1,646		$	1,710		$	1,741		$	1,724		(c)

Pre-tax operating margin	22		%	28		%	24		%	25		%	25		%	16		%	24		%	24		%	26		%	26		%
Adjusted pre-tax operating margin (d)	35		%	34		%	33		%	34		%	34		%	36		%	33		%	32		%	34		%	34		%

(a) Total fee and other revenue includes the impact of the consolidated investment management funds. See "Supplemental information - Explanation of GAAP and Non-GAAP financial measures" beginning on page 25 of the Quarterly Earnings Release for the reconciliation of Non-GAAP measures. Additionally, other revenue includes asset servicing, treasury services, foreign exchange and other trading revenue and investment and other income.
(b) Excludes securities lending cash management assets and assets managed in the Investment Services business. Also excludes assets under management related to Newton's private client business that was sold in September 2013.
(c) Preliminary.
(d) Excludes the net negative impact of money market fee waivers, amortization of intangible assets and the charge (recovery) related to investment management funds net of incentives, and is net of distribution and servicing expense. See "Supplemental information - Explanation of GAAP and Non-GAAP financial measures" beginning on page 25 of the Quarterly Earnings Release for the reconciliation of Non-GAAP measures.

THE BANK OF NEW YORK MELLON CORPORATION

INVESTMENT SERVICES BUSINESS - 10 Quarter Trend



	2013												2014												2015
(dollar amounts in millions unless otherwise noted)	1st Qtr			2nd Qtr			3rd Qtr			4th Qtr			1st Qtr			2nd Qtr			3rd Qtr			4th Qtr			1st Qtr			2nd Qtr
Revenue:
Investment services fees
Asset servicing fees - ex. securities lending	$	912		$	922		$	913		$	936		$	955		$	958		$	971		$	964		$	979		$	995
Securities lending revenue	31			39			26			21			30			35			27			28			34			40
Issuer services	236			294			321			236			228			231			314			193			231			234
Clearing services	302			320			314			322			323			324			336			346			342			346
Treasury services	137			135			135			137			134			140			139			142			135			141
Total investment services fees	1,618			1,710			1,709			1,652			1,670			1,688			1,787			1,673			1,721			1,756
Foreign Exchange and other trading revenue	173			193			177			150			158			145			159			165			209			179
Other (a)	70			67			63			58			59			87			59			69			63			85
Total fee and other revenue	1,861			1,970			1,949			1,860			1,887			1,920			2,005			1,907			1,993			2,020
Net interest revenue	653			633			619			610			590			593			583			574			600			635
Total revenue	2,514			2,603			2,568			2,470			2,477			2,513			2,588			2,481			2,593			2,655
Provision for credit losses	1			—			—			—			—			—			—			—			—			—
Noninterest expenses (ex. intangible amortization)	1,796			1,825			1,765			1,822			1,778			1,824			1,835			2,512			1,797			1,841
Income before taxes (ex. intangible amortization)	717			778			803			648			699			689			753			(31		)	796			814
Amortization of intangible assets	47			54			46			47			44			44			44			43			41			40
Income before taxes	$	670		$	724		$	757		$	601		$	655		$	645		$	709		$	(74	)	$	755		$	774

Average loans	$	26,697		$	27,814		$	27,865		$	31,211		$	31,468		$	33,115		$	33,785		$	35,448		$	37,699		$	38,264
Average assets	$	240,187		$	244,802		$	246,252		$	258,294		$	258,470		$	264,221		$	266,455		$	276,586		$	284,978		$	290,102
Average deposits	$	200,222		$	204,499		$	206,068		$	216,216		$	214,947		$	220,701		$	221,734		$	228,282		$	234,183		$	237,193

Pre-tax operating margin	27		%	28		%	29		%	24		%	26		%	26		%	27		%	(3		)%	29		%	29		%
Pre-tax operating margin (ex. intangible amortization)	29		%	30		%	31		%	26		%	28		%	27		%	29		%	(1		)%	31		%	31		%

Investment services fees as a percentage of noninterest expense (b)	92		%	94		%	97		%	90		%	93		%	93		%	100		%	92		%	96		%	98		%

Assets under custody and/or administration at period-end (in trillions) (c)	$	26.3		$	26.2		$	27.4		$	27.6		$	27.9		$	28.5		$	28.3		$	28.5		$	28.5		$	28.6		(d)

Market value of securities on loan at period-end (in billions) (e)	$	244		$	255		$	255		$	235		$	264		$	280		$	282		$	289		$	291		$	283

(a) Other revenue includes investment management fees, financing-related fees, distribution and servicing revenue, and investment and other income.
(b) Noninterest expense excludes amortization of intangible assets and litigation expense.
(c) Includes the AUC/A of CIBC Mellon Global Securities Services Company ("CIBC Mellon"), a joint venture with the Canadian Imperial Bank of Commerce, of $1.2 trillion at March 31, 2013, $1.1 trillion at June 30, 2013, $1.2 trillion at Sept. 30, 2013, Dec. 31, 2013, March 31, 2014, June 30, 2014 and Sept. 30, 2014, and $1.1 trillion at Dec. 31, 2014, March 31, 2015, and June 30, 2015.
(d) Preliminary.
(e) Represents the total amount of securities on loan managed by the Investment Services business. Excludes securities for which BNY Mellon acts as agent, beginning in the fourth quarter of 2013, on behalf of CIBC Mellon clients, which totaled $62 billion at Dec. 31, 2013, $66 billion at March 31, 2014, $64 billion at June 30, 2014, $65 billion at Sept. 30, 2014 and Dec. 31, 2014, $69 billion at March 31, 2015, and $68 billion at June 30, 2015.

THE BANK OF NEW YORK MELLON

OTHER SEGMENT- 10 Quarter Trend



	2013 (a)											2014												2015
(dollar amounts in millions)	1st Qtr			2nd Qtr			3rd Qtr		4th Qtr			1st Qtr			2nd Qtr			3rd Qtr			4th Qtr			1st Qtr			2nd Qtr

Revenue:
Fee and other revenue (a)	$	152		$	347		$	172	$	(20	)	$	112		$	119		$	928		$	117		$	104		$	124
Net interest revenue	4			61			86		83			68			60			69			69			54			66
Total revenue (a)	156			408			258		63			180			179			997			186			158			190
Provision for credit loss	(25		)	(19		)	2		6			(18		)	(12		)	(19		)	1			2			(6		)
Noninterest expense (ex. M&I and restructuring charges)	243			236			230		200			193			93			274			210			120			98
Income (loss) before taxes (ex. M&I and restructuring charges) (a)	$	(62	)	$	191		$	26	$	(143	)	$	5		$	98		$	742		$	(25	)	$	36		$	98
M&I and restructuring charges	5			3			14		13			—			120			57			—			(4		)	8
Income (loss) before taxes (a)	$	(67	)	$	188		$	12	$	(156	)	$	5		$	(22	)	$	685		$	(25	)	$	40		$	90

Average loans and leases	$	10,610		$	10,846		$	10,938	$	9,802		$	10,104		$	9,962		$	10,278		$	10,272		$	8,602		$	10,515
Average assets	$	54,734		$	54,700		$	56,808	$	59,045		$	57,059		$	67,241		$	77,284		$	71,359		$	52,416		$	57,679

(a) In the first quarter of 2014, prior periods were restated to reflect the retrospective application of adopting new accounting guidance related to our investments in qualified affordable housing projects (ASU 2014-01).

THE BANK OF NEW YORK MELLON CORPORATION

BUSINESSES



	Investment Management									Investment Services									Other												Consolidated Results
(dollar amounts in millions unless otherwise noted)	2014			2013			2012			2014			2013			2012			2014				2013				2012				2014				2013				2012
Revenue:
Investment services fees
Asset servicing	$	106		$	104		$	117		$	3,968		$	3,800		$	3,663		$	1			$	1			$	—			$	4,075			$	3,905			$	3,780
Issuer services	—			—			—			966			1,087			1,049			2				3				3				968				1,090				1,052
Clearing services	—			—			—			1,329			1,258			1,183			6				6				10				1,335				1,264				1,193
Treasury services	9			2			2			555			544			527			—				8				20				564				554				549
Total investment services fees	115			106			119			6,818			6,689			6,422			9				18				33				6,942				6,813				6,574
Investment management fees	3,369			3,255			3,016			74			63			66			—				27				37				3,443				3,345				3,119
Performance fees	115			130			137			—			—			—			—				—				(1		)		115				130				136
Foreign exchange and other trading revenue	(23		)	8			9			627			693			628			(34		)		(27		)		55				570				674				692
Distribution and servicing	162			172			187			11			8			5			—				—				—				173				180				192
Financing-related fees	1			5			6			50			44			42			118				123				124				169				172				172
Investment and other income	(7		)	(14		)	(9		)	139			142			171			1,093			(a)	376			(a)	352			(a)	1,225			(a)	504			(a)	514			(a)
Total fee revenue	3,732			3,662			3,465			7,719			7,639			7,334			1,186			(a)	517			(a)	600			(a)	12,637			(a)(b)	11,818			(a)(b)	11,399			(a)(b)
Net securities gains (losses)	1			6			(1		)	—			1			11			90				134				152				91				141				162
Total fee and other revenue	3,733			3,668			3,464			7,719			7,640			7,345			1,276			(a)	651			(a)	752			(a)	12,728			(a)(b)	11,959			(a)(b)	11,561			(a)(b)
Net interest revenue (expense)	274			260			214			2,340			2,515			2,439			266				234				320				2,880				3,009				2,973
Total revenue	4,007			3,928			3,678			10,059			10,155			9,784			1,542			(a)	885			(a)	1,072			(a)	15,608			(a)	14,968			(a)	14,534			(a)
Provision for credit losses	—			—			—			—			1			(3		)	(48		)		(36		)		(77		)		(48		)		(35		)		(80		)
Noninterest expenses (ex. intangible amortization) (f)	2,983			2,812			2,590			7,949			7,208			7,368			947				944				991				11,879				10,964				10,949
Income (loss) before taxes (ex. intangible amortization)	1,024			1,116			1,088			2,110			2,946			2,419			643			(a)	(23		)	(a)	158			(a)	3,777			(a)(b)	4,039			(a)(b)	3,665			(a)(b)
Amortization of intangible assets	123			148			192			175			194			192			—				—				—				298				342				384
Income (loss) before taxes and noncontrolling interest	$	901		$	968		$	896		$	1,935		$	2,752		$	2,227		$	643		(a)	$	(23	)	(a)	$	158		(a)	$	3,479		(a)(b)	$	3,697		(a)(b)	$	3,281		(a)(b)

Average loans	$	10,589		$	9,361		$	7,950		$	33,466		$	28,407		$	25,503		$	10,155			$	10,548			$	9,607			$	54,210			$	48,316			$	43,060
Average assets	$	37,783		$	38,546		$	36,120		$	266,483		$	247,430		$	223,233		$	68,300			$	56,335			$	56,028			$	372,566			$	342,311			$	315,381
Average deposits	$	14,156		$	13,755		$	11,311		$	221,453		$	206,793		$	185,441		$	6,930			$	5,148			$	7,458			$	242,539			$	225,696			$	204,210

Assets under management at period-end (in billions) (c)	$	1,710		$	1,583		$	1,380		$	—		$	—		$	—		$	—			$	—			$	—			$	1,710			$	1,583			$	1,380
Assets under custody and/or administration at period-end (in trillions) (d)	$	—		$	—		$	—		$	28.5		$	27.6		$	26.3		$	—			$	—			$	—			$	28.5			$	27.6			$	26.3
Market value of securities on loan at period-end (in billions) (e)	$	—		$	—		$	—		$	289		$	235		$	237		$	—			$	—			$	—			$	289			$	235			$	237

Pre-tax operating margin - GAAP	22		%	25		%	24		%	19		%	27		%	23		%	N/M				N/M				N/M				22		%		25		%		23		%

Memo:
Securities Lending Revenue																															$	158			$	155			$	198

(a) In the first quarter of 2014, prior periods were restated to reflect the retrospective application of adopting new accounting guidance related to our investments in qualified affordable housing projects (ASU 2014-01).
(b) Total fee and other revenue and income before taxes for the years 2012, 2013 and 2014 include income from consolidated investment management funds of $189 million, $183 million and $163 million, respectively, net of income attributable to noncontrolling interests of $76 million, $80 million and $84 million respectively. The net of these income statement line items of $113 million, $103 million and $79 million, respectively, are included above in fee and other revenue.
(c) Excludes securities lending cash management assets and assets managed in the Investment Services business. Also excludes assets under management related to Newton's private client business that was sold in September 2013.
(d) Includes the AUC/A of CIBC Mellon Global Securities Services Company ("CIBC Mellon"), a joint venture with the Canadian Imperial Bank of Commerce, of $1.1 trillion at Dec. 31, 2012, $1.2 trillion at Dec. 31, 2013 and $1.1 trillion at Dec. 31, 2014.
(e) Represents the total amount of securities on loan managed by the Investment Services business. Excludes securities for which BNY Mellon acts as agent, beginning in the fourth quarter of 2013, on behalf of CIBC Mellon clients, which totaled $62 billion at Dec. 31, 2013 and $65 billion at Dec. 31, 2014.
(f) The second quarter of 2012 includes a charge related to the settlement of the Sigma class action lawsuit.
Note: See pages 10 through 12 for businesses results.
N/M - Not meaningful

THE BANK OF NEW YORK MELLON CORPORATION

NONPERFORMING ASSETS - 10 Quarter Trend



	2013												2014												2015
(dollar amounts in millions)	Mar 31			Jun 30			Sep 30			Dec 31			Mar 31			Jun 30			Sep 30			Dec 31			Mar 31			Jun 30

Nonperforming loans:
Other residential mortgages	$	148		$	135		$	128		$	117		$	107		$	105		$	113		$	112		$	111		$	110
Wealth management loans and mortgages	30			13			12			11			12			12			13			12			12			11
Commercial real estate	17			18			4			4			4			4			4			1			1			1
Commercial	24			24			15			15			13			13			13			—			—			—
Foreign	9			9			9			6			7			4			—			—			—			—
Financial institutions	3			2			1			—			—			—			—			—			—			—

Total nonperforming loans	231			201			169			153			143			138			143			125			124			122
Other assets owned	3			3			3			3			3			4			4			3			4			5

Total nonperforming assets (a)	$	234		$	204		$	172		$	156		$	146		$	142		$	147		$	128		$	128		$	127

Nonperforming assets ratio	0.48		%	0.41		%	0.34		%	0.30		%	0.27		%	0.24		%	0.26		%	0.22		%	0.21		%	0.20		%
Nonperforming assets ratio excluding margin loans	0.65		%	0.57		%	0.49		%	0.43		%	0.39		%	0.34		%	0.37		%	0.33		%	0.30		%	0.30		%

Allowance for loan losses/nonperforming loans	102.6			105.5			121.9			137.3			138.5			135.5			133.6			152.8			153.2			150.0
Allowance for loan losses/nonperforming assets	101.3			103.9			119.8			134.6			135.6			131.7			129.9			149.2			148.4			144.1
Total allowance for credit losses/nonperforming loans	155.0			167.7			200.6			224.8			228.0			225.4			201.4			224.0			228.2			227.9
Total allowance for credit losses/nonperforming assets	153.0			165.2			197.1			220.5			221.8			219.0			195.9			218.8			221.1			218.9

(a) Loans of consolidated investment management funds are not part of BNY Mellon's loan portfolio. Included in the loans of consolidated investment management funds are nonperforming loans for the 1st through 4th quarters of 2013 of $161 million, $44 million, $31 million, and $16 million, respectively, for the 1st through 4th quarters of 2014 of $74 million, $68 million, $79 million, and $53 million, respectively. These loans are recorded at fair value and therefore do not impact the provision for credit losses and allowance for loan losses, and accordingly are excluded from the nonperforming assets table above. In 2Q15, BNY Mellon adopted the new accounting guidance included in ASU 2015-02, Consolidations. As a result, we deconsolidated substantially all of the loans of consolidated investment management funds retroactively to Jan. 1, 2015. See page 24 in the Quarterly Earnings Release for additional information on the new accounting guidance.

THE BANK OF NEW YORK MELLON CORPORATION

ALLOWANCE FOR CREDIT LOSSES, PROVISION AND NET CHARGE-OFFS - 10 Quarter Trend



	2013												2014												2015
(dollar amounts in millions)	Mar 31			Jun 30			Sep 30			Dec 31			Mar 31			Jun 30			Sep 30			Dec 31			Mar 31			Jun 30

Allowance for credit losses:
Allowance for credit losses	$	266		$	237		$	212		$	206		$	210		$	198		$	187		$	191		$	191		$	190
Allowance for lending-related commitments	121			121			125			133			134			128			124			97			89			93
Allowance for credit losses - beginning of period	387			358			337			339			344			326			311			288			280			283

Net (charge-offs)
Charge-offs	(5		)	(3		)	(2		)	(6		)	(1		)	(4		)	(5		)	(10		)	—			—
Recoveries	—			1			2			5			1			1			1			1			1			1
Total Net (charge-offs)	(5		)	(2		)	—			(1		)	—			(3		)	(4		)	(9		)	1			1

Provision for credit losses	(24		)	(19		)	2			6			(18		)	(12		)	(19		)	1			2			(6		)

Allowance for credit losses - end of period	358			337			339			344			326			311			288			280			283			278
Allowance for loan losses
Allowance for loan losses	$	237		$	212		$	206		$	210		$	198		$	187		$	191		$	191		$	190		$	183
Allowance for lending-related commitments	121			125			133			134			128			124			97			89			93			95
Allowance for credit losses - end of period	358			337			339			344			326			311			288			280			283			278


Allowance for loan losses as a percentage of total loans	0.48		%	0.42		%	0.41		%	0.41		%	0.37		%	0.32		%	0.33		%	0.32		%	0.31		%	0.29		%

THE BANK OF NEW YORK MELLON CORPORATION

Quarterly Financial Trends

July 21, 2015

Notes:

The following transactions/changes have impacted the reporting of our results:

The first quarter of 2015 was restated to reflect the retrospective application of adopting new accounting guidance related to Consolidations (ASU 2015-02). See page 24 of the Quarterly Earnings Release for more information.

In the first quarter of 2014, prior periods were restated to reflect the retrospective application of adopting new accounting guidance related to our investments in qualified affordable housing projects (ASU 2014-01).

In the first quarter of 2014, results of Newton's private client business were reclassified from the Investment Management business to the Other segment. Newton's private client business was sold in September 2013.

Restructuring charges in the second quarter of 2014 represent corporate initiatives and were recorded in the Other segment. In the fourth quarter of 2013, restructuring charges were recorded in the businesses. Prior to the fourth quarter of 2013, all restructuring charges were reported in the Other segment.

In the first quarter of 2013, incentive expense related to restricted stock and certain corporate overhead charges were allocated to Investment Management and Investment Services businesses which were previously included in the Other segment. All prior periods were restated to reflect these changes.

Certain immaterial reclassifications/revisions have been made to prior periods to place them on a basis comparable with the current period's presentation.

In businesses where average deposits are greater than average loans, average assets include an allocation of investment securities equal to the difference.

Quarterly return on common and tangible common equity ratios are annualized.

Non-GAAP Measures:

Certain Non-GAAP measures are included in this document. These measures are used by management to monitor financial performance, both on a company-wide and on a business basis. These Non-GAAP measures relate to certain revenue/expense categories, percentages and ratios as described in footnotes. For further information, see 'Supplemental information -- Explanation of GAAP and Non-GAAP Financial Measures' in the Quarterly Earnings Release. Summations may not equal due to rounding. As a result of our rounding convention and reclassifications noted above, differences may exist between the business trends data versus business data in the Form 10-K for the year ended December 31, 2014 or other reports filed with the SEC.

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