Bank of New York Mellon Corp - FORM 8-K - EX-99.2 - FINANCIAL SUPPLEMENT - July 15, 2021

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EX-99.3 - FINANCIAL HIGHLIGHTS PRESENTATION - Bank of New York Mellon Corpex993_financialhighlight.htm
EX-99.1 - EARNINGS RELEASE - Bank of New York Mellon Corpex991_earningsreleasex2q21.htm
8-K - FORM 8-K - Bank of New York Mellon Corpbk-20210715.htm


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The Bank of New York Mellon Corporation
Financial Supplement
Second Quarter 2021



Table of Contents
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Consolidated ResultsPage
Consolidated Financial Highlights
Condensed Consolidated Income Statement
Condensed Consolidated Balance Sheet
Fee and Other Revenue
Average Balances and Interest Rates
Capital and Liquidity
Business Segment Results
Investment Services Business
Investment and Wealth Management Business
AUM by Product, AUM Flows and Wealth Management Client Assets
Other Segment
Other
Securities Portfolio
Allowance for Credit Losses and Nonperforming Assets
Supplemental Information – Explanation of GAAP and Non-GAAP Financial Measures



THE BANK OF NEW YORK MELLON CORPORATION
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CONSOLIDATED FINANCIAL HIGHLIGHTS
(dollars in millions, except per common share amounts, or unless otherwise noted)2Q21 vs.YTD21 vs.
2Q211Q214Q203Q202Q201Q212Q20YTD21YTD20YTD20
Selected income statement data
Fee revenue$3,224 $3,257 $3,114 $3,074 $3,089 (1)%4 %$6,481 $6,327 2 %
Other revenue91 9 49 70 141 N/MN/M100 197 N/M
Total fee and other revenue3,315 3,266 3,163 3,144 3,230 2 3 6,581 6,524 1 
Net interest revenue645 655 680 703 780 (2)(17)1,300 1,594 (18)
Total revenue3,960 3,921 3,843 3,847 4,010 1 (1)7,881 8,118 (3)
Provision for credit losses(86)(83)15 9 143 N/MN/M(169)312 N/M
Noninterest expense2,778 2,851 2,925 2,681 2,686 (3)3 5,629 5,398 4 
Income before income taxes1,268 1,153 903 1,157 1,181 10 7 2,421 2,408 1 
Provision for income taxes241 221 148 213 216 9 12 462 481 (4)
Net income$1,027 $932 $755 $944 $965 10 %6 %$1,959 $1,927 2 %
Net income applicable to common shareholders of The Bank of New York Mellon Corporation
$991 $858 $702 $876 $901 16 %10 %$1,849 $1,845 — %
Diluted earnings per common share$1.13 $0.97 $0.79 $0.98 $1.01 16 %12 %$2.10 $2.06 2 %
Average common shares and equivalents outstanding – diluted (in thousands)
873,475 885,655 891,846 891,069 890,561 (1)%(2)%879,409 893,603 (2)%
Financial ratios (Returns are annualized)
Pre-tax operating margin32 %29 %24 %30 %29 %31 %30 %
Return on common equity9.8 %8.5 %6.9 %8.7 %9.4 %9.2 %9.7 %
Return on tangible common equity – Non-GAAP (a)
18.6 %16.1 %13.0 %16.7 %18.5 %17.3 %19.4 %
Non-U.S. revenue as a percentage of total revenue 38 %37 %38 %37 %36 %38 %36 %
Period end
Assets under custody and/or administration (“AUC/A”) (in trillions) (b)
$45.0 $41.7 $41.1 $38.6 $37.3 8 %21 %
Assets under management (“AUM”) (in trillions)
$2.32 $2.21 $2.21 $2.04 $1.96 5 %18 %
Full-time employees48,800 48,000 48,500 48,600 48,300 2 %1 %
Book value per common share$47.20 $46.16 $46.53 $45.58 $44.21 
Tangible book value per common share – Non-GAAP (a)
$25.64 $24.88 $25.44 $24.60 $23.31 
Cash dividends per common share$0.31 $0.31 $0.31 $0.31 $0.31 
Common dividend payout ratio27 %32 %39 %32 %31 %
Closing stock price per common share$51.23 $47.29 $42.44 $34.34 $38.65 
Market capitalization$44,220 $41,401 $37,634 $30,430 $34,239 
Common shares outstanding (in thousands)
863,174 875,481 886,764 886,136 885,862 
Capital ratios at period end (c)
Common Equity Tier 1 ("CET1") ratio12.6 %12.6 %13.1 %13.0 %12.6 %
Tier 1 capital ratio15.2 %15.2 %15.8 %15.7 %15.4 %
Total capital ratio16.0 %16.1 %16.7 %16.6 %16.3 %
Tier 1 leverage ratio6.0 %5.8 %6.3 %6.5 %6.2 %
Supplementary leverage ratio ("SLR")7.5 %8.1 %8.6 %8.5 %8.2 %
(a) Non-GAAP information, for all periods presented, excludes goodwill and intangible assets, net of deferred tax liabilities. See "Supplemental Information – Explanation of GAAP and Non-GAAP Financial Measures" beginning on page 16 for the reconciliation of Non-GAAP measures.
(b) Includes the AUC/A of CIBC Mellon Global Securities Services Company ("CIBC Mellon"), a joint venture with the Canadian Imperial Bank of Commerce, of $1.7 trillion at June 30, 2021, $1.6 trillion at March 31, 2021, $1.5 trillion at Dec. 31, 2020, $1.4 trillion at Sept. 30, 2020 and $1.3 trillion at June 30, 2020.
(c) Regulatory capital ratios for June 30, 2021 are preliminary. For our CET1, Tier 1 capital and Total capital ratios, our effective capital ratios under the U.S. capital rules are the lower of the ratios as calculated under the Standardized and Advanced Approaches, which for June 30, 2021 and March 31, 2021 was the Standardized Approach for the CET1 and Tier 1 capital ratios and the Advanced Approaches for the Total capital ratio, and for Dec. 31, 2020, Sept. 30, 2020 and June 30, 2020, was the Advanced Approaches.
N/M – Not meaningful.
3


THE BANK OF NEW YORK MELLON CORPORATION
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CONDENSED CONSOLIDATED INCOME STATEMENT
(dollars in millions, except per share amounts; common shares in thousands)
2Q21 vs.YTD21 vs.
2Q211Q214Q203Q202Q201Q212Q20YTD21YTD20YTD20
Revenue
Investment services fees:
Asset servicing fees$1,200 $1,199 $1,138 $1,168 $1,173 — %2 %$2,399 $2,332 3 %
Clearing services fees435 455 418 397 431 (4)1 890 901 (1)
Issuer services fees281 245 257 295 277 15 1 526 540 (3)
Treasury services fees160 157 156 152 144 2 11 317 293 8 
Total investment services fees2,076 2,056 1,969 2,012 2,025 1 3 4,132 4,066 2 
Investment management and performance fees889 890 884 835 786 — 13 1,779 1,648 8 
Foreign exchange revenue184 231 187 149 193 (20)(5)415 438 (5)
Financing-related fees48 51 46 49 58 (6)(17)99 117 (15)
Distribution and servicing27 29 28 29 27 (7)— 56 58 (3)
Total fee revenue3,224 3,257 3,114 3,074 3,089 (1)4 6,481 6,327 2 
Investment and other income89 9 43 61 132 N/MN/M98 179 N/M
Net securities gains2 — 6 9 9 N/MN/M2 18 N/M
Total other revenue91 9 49 70 141 N/MN/M100 197 N/M
Total fee and other revenue3,315 3,266 3,163 3,144 3,230 2 3 6,581 6,524 1 
Net interest revenue645 655 680 703 780 (2)(17)1,300 1,594 (18)
Total revenue3,960 3,921 3,843 3,847 4,010 1 (1)7,881 8,118 (3)
Provision for credit losses(86)(83)15 9 143 N/MN/M(169)312 N/M
Noninterest expense
Staff1,518 1,602 1,554 1,466 1,464 (5)4 3,120 2,946 6 
Software and equipment365 362 359 340 345 1 6 727 671 8 
Professional, legal and other purchased services363 343 381 355 337 6 8 706 667 6 
Sub-custodian and clearing132 124 116 119 120 6 10 256 225 14 
Net occupancy 122 123 173 136 137 (1)(11)245 272 (10)
Distribution and servicing73 74 75 85 85 (1)(14)147 176 (16)
Bank assessment charges35 34 24 30 35 3 — 69 70 (1)
Amortization of intangible assets20 24 26 26 26 (17)(23)44 52 (15)
Business development22 19 26 17 20 16 10 41 62 (34)
Other128 146 191 107 117 (12)9 274 257 7 
Total noninterest expense2,778 2,851 2,925 2,681 2,686 (3)3 5,629 5,398 4 
Income before income taxes 1,268 1,153 903 1,157 1,181 10 7 2,421 2,408 1 
Provision for income taxes 241 221 148 213 216 9 12 462 481 (4)
Net income 1,027 932 755 944 965 10 6 1,959 1,927 2 
Net (income) loss attributable to noncontrolling interests(5)(5)(5)(7)(15)N/MN/M(10)3 N/M
Preferred stock dividends(31)(69)(48)(61)(49)N/MN/M(100)(85)N/M
Net income applicable to common shareholders of The Bank of New York Mellon Corporation
$991 $858 $702 $876 $901 16 %10 %$1,849 $1,845 — %
Average common shares and equivalents outstanding: Basic869,460 882,558 889,928 889,499 889,020 (1)%(2)%876,006 891,642 (2)%
Diluted873,475 885,655 891,846 891,069 890,561 (1)%(2)%879,409 893,603 (2)%
Earnings per common share: Basic$1.14 $0.97 $0.79 $0.98 $1.01 18 %13 %$2.11 $2.06 2 %
Diluted$1.13 $0.97 $0.79 $0.98 $1.01 16 %12 %$2.10 $2.06 2 %
N/M – Not meaningful.
4


THE BANK OF NEW YORK MELLON CORPORATION
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CONDENSED CONSOLIDATED BALANCE SHEET
20212020
(in millions)June 30March 31Dec. 31Sept. 30June 30
Assets
Cash and due from banks$5,154 $5,991 $6,252 $4,104 $4,776 
Interest-bearing deposits with the Federal Reserve and other central banks126,355 125,524 141,775 106,185 112,728 
Interest-bearing deposits with banks21,270 23,763 17,300 19,027 18,045 
Federal funds sold and securities purchased under resale agreements29,762 28,263 30,907 29,647 36,638 
Securities155,906 155,844 156,441 155,339 154,682 
Trading assets15,520 16,884 15,272 13,074 14,150 
Loans63,547 60,732 56,469 55,491 55,397 
Allowance for loan losses(269)(327)(358)(325)(302)
Net loans
63,278 60,405 56,111 55,166 55,095 
Premises and equipment3,442 3,521 3,602 3,617 3,598 
Accrued interest receivable492 485 510 489 540 
Goodwill17,487 17,469 17,496 17,357 17,253 
Intangible assets2,964 2,983 3,012 3,026 3,045 
Other assets25,333 23,852 20,955 21,367 21,766 
Total assets
$466,963 $464,984 $469,633 $428,398 $442,316 
Liabilities
Deposits$338,670 $336,768 $341,545 $296,312 $305,470 
Federal funds purchased and securities sold under repurchase agreements12,425 15,150 11,305 15,907 14,512 
Trading liabilities6,451 4,566 6,031 6,084 5,595 
Payables to customers and broker-dealers23,704 23,827 25,085 23,514 25,012 
Commercial paper— — — 671 665 
Other borrowed funds451 348 350 420 1,628 
Accrued taxes and other expenses5,213 4,916 5,696 5,347 5,029 
Other liabilities8,626 8,656 7,517 8,675 12,873 
Long-term debt25,629 25,350 25,984 26,121 27,566 
Total liabilities
421,169 419,581 423,513 383,051 398,350 
Temporary equity
Redeemable noncontrolling interests169 187 176 179 157 
Permanent equity
Preferred stock
4,541 4,541 4,541 4,532 4,532 
Common stock
14 14 14 14 14 
Additional paid-in capital28,006 27,928 27,823 27,741 27,702 
Retained earnings35,540 34,822 34,241 33,821 33,224 
Accumulated other comprehensive loss, net of tax(1,670)(1,819)(985)(1,359)(1,943)
Less: Treasury stock, at cost
(21,150)(20,532)(19,833)(19,832)(19,832)
Total The Bank of New York Mellon Corporation shareholders’ equity
45,281 44,954 45,801 44,917 43,697 
Nonredeemable noncontrolling interests of consolidated investment management funds
344 262 143 251 112 
Total permanent equity
45,625 45,216 45,944 45,168 43,809 
Total liabilities, temporary equity and permanent equity
$466,963 $464,984 $469,633 $428,398 $442,316 
5


THE BANK OF NEW YORK MELLON CORPORATION
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FEE AND OTHER REVENUE
2Q21 vs.YTD21 vs.
(dollars in millions)2Q211Q214Q203Q202Q201Q212Q20YTD21YTD20YTD20
Investment services fees:
Asset servicing fees (a)
$1,155 $1,154 $1,099 $1,128 $1,117 — %3 %$2,309 $2,225 4 %
Securities lending revenue45 45 39 40 56 — (20)90 107 (16)
Clearing services fees (b)
435 455 418 397 431 (4)1 890 901 (1)
Issuer services fees281 245 257 295 277 15 1 526 540 (3)
Treasury services fees160 157 156 152 144 2 11 317 293 8 
Total investment services fees2,076 2,056 1,969 2,012 2,025 1 3 4,132 4,066 2 
Investment management and performance fees:
Investment management fees (c)
875 850 839 828 781 3 12 1,725 1,593 8 
Performance fees14 40 45 7 5 N/MN/M54 55 (2)
Total investment management and performance fees (d)
889 890 884 835 786 — 13 1,779 1,648 8 
Foreign exchange revenue184 231 187 149 193 (20)(5)415 438 (5)
Financing-related fees48 51 46 49 58 (6)(17)99 117 (15)
Distribution and servicing27 29 28 29 27 (7)— 56 58 (3)
Total fee revenue3,224 3,257 3,114 3,074 3,089 (1)4 6,481 6,327 2 
Investment and other income:
Income from consolidated investment management funds13 17 41 27 54 N/MN/M30 16 N/M
Seed capital gains (losses) (e)
18 3 22 9 23 N/MN/M21 (8)N/M
Other trading (loss) revenue(1)(7)(31)(14)(8)N/MN/M(8)58 N/M
Renewable energy investment (losses)(41)(81)(27)(34)(34)N/MN/M(122)(68)N/M
Corporate/bank-owned life insurance29 33 43 33 36 N/MN/M62 72 N/M
Other investments gains (f)
23 11 18 11 13 N/MN/M34 6 N/M
Disposal gains (losses)6 — (61)— — N/MN/M6 — N/M
Expense reimbursements from joint venture25 23 22 23 19 N/MN/M48 40 N/M
Other income17 10 16 6 29 N/MN/M27 63 N/M
Total investment and other income89 9 43 61 132 N/MN/M98 179 N/M
Net securities gains2 — 6 9 9 N/MN/M2 18 N/M
Total other revenue91 9 49 70 141 N/MN/M100 197 N/M
Total fee and other revenue$3,315 $3,266 $3,163 $3,144 $3,230 2 %3 %$6,581 $6,524 1 %
(a) Asset servicing fees include the fees from the Clearance and Collateral Management business.
(b) Clearing services fees are almost entirely earned by our Pershing business.
(c) Excludes seed capital gains (losses) related to consolidated investment management funds.
(d) On a constant currency basis (Non-GAAP), investment management and performance fees increased 9% compared with 2Q20. See "Supplemental Information – Explanation of GAAP and Non-GAAP Financial Measures" beginning on page 16 for the reconciliation of this Non-GAAP measure.
(e) Includes gains (losses) on investments in BNY Mellon funds which hedge deferred incentive awards.
(f) Includes strategic equity, private equity and other investments.
N/M – Not meaningful.

6


THE BANK OF NEW YORK MELLON CORPORATION
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AVERAGE BALANCES AND INTEREST RATES
2Q211Q214Q203Q202Q20
Average balanceAverage rateAverage balanceAverage rateAverage balanceAverage rateAverage balanceAverage rateAverage balanceAverage rate
(dollars in millions; average rates are annualized)
Assets
Interest-earning assets:
Interest-bearing deposits with the Federal Reserve and other central banks
$114,564 (0.09)%$125,930 (0.05)%$112,274 (0.04)%$90,670 (0.04)%$94,229 (0.03)%
Interest-bearing deposits with banks (primarily foreign banks)22,465 0.20 21,313 0.27 19,281 0.32 19,202 0.42 21,093 0.76 
Federal funds sold and securities purchased under resale agreements (a)
27,857 0.36 29,186 0.44 28,389 0.55 30,342 0.63 30,265 0.82 
Margin loans18,995 1.04 15,891 1.14 14,097 1.23 12,870 1.24 12,791 1.28 
Non-margin loans:
Domestic offices36,455 1.90 31,218 2.02 30,855 2.08 30,053 2.12 31,185 2.21 
Foreign offices5,070 1.14 9,680 1.18 9,776 1.31 10,693 1.45 12,743 1.84 
Total non-margin loans41,525 1.81 40,898 1.82 40,631 1.90 40,746 1.94 43,928 2.10 
Securities:
U.S. government obligations33,212 1.42 28,759 1.43 27,783 1.46 30,073 1.36 27,901 1.52 
U.S. government agency obligations72,809 1.46 77,623 1.50 79,712 1.56 78,300 1.68 74,583 1.92 
State and political subdivisions (b)
2,768 1.96 2,526 1.92 2,104 2.01 1,500 2.51 1,025 2.98 
Other securities (b)
47,451 0.26 47,030 0.50 46,280 0.48 46,719 0.59 45,511 0.82 
Total investment securities (b)
156,240 1.10 155,938 1.19 155,879 1.23 156,592 1.30 149,020 1.51 
Trading securities (b)
6,639 0.72 8,141 0.95 8,123 0.95 7,212 0.91 6,236 1.13 
Total securities (b)
162,879 1.08 164,079 1.18 164,002 1.22 163,804 1.28 155,256 1.50 
Total interest-earning assets (b)
$388,285 0.71 %$397,297 0.75 %$378,674 0.82 %$357,634 0.92 %$357,562 1.06 %
Noninterest-earning assets64,044 63,082 58,814 57,231 57,797 
Total assets$452,329 $460,379 $437,488 $414,865 $415,359 
Liabilities and equity
Interest-bearing liabilities:
Interest-bearing deposits:
Domestic offices$126,953 (0.02)%$128,543 (0.02)%$119,012 (0.02)%$102,767 (0.01)%$102,135 0.06 %
Foreign offices112,513 (0.15)116,572 (0.10)112,306 (0.10)108,733 (0.09)108,508 (0.12)
Total interest-bearing deposits239,466 (0.08)245,115 (0.06)231,318 (0.06)211,500 (0.05)210,643 (0.03)
Federal funds purchased and securities sold under repurchase
agreements (a)
13,773 (0.17)15,288 (0.07)14,452 0.01 16,850 0.13 14,209 0.03 
Trading liabilities2,282 0.38 2,227 0.53 2,408 0.72 2,692 0.30 1,974 0.39 
Other borrowed funds298 2.21 331 2.01 338 1.71 873 1.40 2,272 1.30 
Commercial paper— — — — 275 0.10 2,274 0.09 191 1.02 
Payables to customers and broker-dealers16,811 (0.01)17,691 (0.01)17,521 (0.01)18,501 (0.01)18,742 (0.01)
Long-term debt25,275 1.43 26,199 1.81 25,704 1.88 26,511 2.01 28,122 2.42 
Total interest-bearing liabilities$297,905 0.05 %$306,851 0.11 %$292,016 0.13 %$279,201 0.16 %$276,153 0.24 %
Total noninterest-bearing deposits85,802 83,429 75,840 67,610 72,411 
Other noninterest-bearing liabilities23,317 24,556 23,783 23,393 24,121 
Total The Bank of New York Mellon Corporation shareholders’ equity44,934 45,261 45,539 44,456 42,486 
Noncontrolling interests371 282 310 205 188 
Total liabilities and equity$452,329 $460,379 $437,488 $414,865 $415,359 
Net interest margin0.67 %0.66 %0.72 %0.79 %0.88 %
Net interest margin (FTE) – Non-GAAP (c)
0.67 %0.67 %0.72 %0.79 %0.88 %
(a) Includes the average impact of offsetting under enforceable netting agreements of approximately $41 billion for 2Q21, $37 billion for 1Q21, $41 billion for 4Q20, $43 billion for 3Q20 and $67 billion for 2Q20. On a Non-GAAP basis, excluding the impact of offsetting, the yield on federal funds sold and securities purchased under resale agreements would have been 0.15% for 2Q21, 0.19% for 1Q21, 0.23% for 4Q20 and 0.26% for 3Q20 and 2Q20. On a Non-GAAP basis, excluding the impact of offsetting, the rate on federal funds purchased and securities sold under repurchase agreements would have been (0.04)% for 2Q21, (0.02)% for 1Q21, 0.00% for 4Q20, 0.04% for 3Q20 and 0.00% for 2Q20. We believe providing the rates excluding the impact of netting is useful to investors as it is more reflective of the actual rates earned and paid.
(b) Average rates were calculated on an FTE basis, at tax rates of approximately 21%.
(c) See "Supplemental Information – Explanation of GAAP and Non-GAAP Financial Measures" beginning on page 16 for the reconciliation of this Non-GAAP measure.
7


THE BANK OF NEW YORK MELLON CORPORATION
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CAPITAL AND LIQUIDITY
20212020
(dollars in millions)June 30March 31Dec. 31Sept. 30June 30
Consolidated regulatory capital ratios (a)
Standardized Approach:
CET1 capital$21,457 $21,090 $21,875 $21,171 $20,035 
Tier 1 capital25,891 25,534 26,310 25,611 24,478 
Total capital27,459 27,190 28,038 27,327 26,183 
Risk-weighted assets169,870 167,510 163,848 156,698 157,290 
CET1 ratio12.6 %12.6 %13.4 %13.5 %12.7 %
Tier 1 capital ratio15.2 15.2 16.1 16.3 15.6 
Total capital ratio16.2 16.2 17.1 17.4 16.6 
Advanced Approaches:
CET1 capital$21,457 $21,090 $21,875 $21,171 $20,035 
Tier 1 capital25,891 25,534 26,310 25,611 24,478 
Total capital27,172 26,908 27,795 27,081 25,937 
Risk-weighted assets169,322 167,035 166,426 163,108 159,340 
CET1 ratio12.7 %12.6 %13.1 %13.0 %12.6 %
Tier 1 capital ratio15.3 15.3 15.8 15.7 15.4 
Total capital ratio16.0 16.1 16.7 16.6 16.3 
Tier 1 leverage ratio:
Average assets for Tier 1 leverage ratio$432,948 $440,968 $417,982 $394,945 $394,394 
Tier 1 leverage ratio6.0 %5.8 %6.3 %6.5 %6.2 %
SLR:
Leverage exposure$347,127 $314,334 (b)$304,823 (b)$300,265 (b)$297,300 (b)
SLR7.5 %8.1 %(b)8.6 %(b)8.5 %(b)8.2 %(b)
Average liquidity coverage ratio110 %110 %110 %111 %112 %
(a) Regulatory capital ratios for June 30, 2021 are preliminary. For our CET1, Tier 1 capital and Total capital ratios, our effective capital ratios under the U.S. capital rules are the lower of the ratios as calculated under the Standardized and Advanced Approaches, which for June 30, 2021 and March 31, 2021 was the Standardized Approach for the CET1 and Tier 1 capital ratios and the Advanced Approaches for the Total capital ratio, and for Dec. 31, 2020, Sept. 30, 2020 and June 30, 2020, was the Advanced Approaches.
(b) Reflects the temporary exclusion of U.S. Treasury securities from the leverage exposure used in the SLR calculation which increased our consolidated SLR by 68 basis points at March 31, 2021, 72 basis points at Dec. 31, 2020, 78 basis points at Sept. 30, 2020 and 40 basis points at June 30, 2020. The temporary exclusion ceased to apply beginning April 1, 2021.

8


THE BANK OF NEW YORK MELLON CORPORATION
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INVESTMENT SERVICES BUSINESS
2Q21 vs.YTD21 vs.
(dollars in millions)2Q211Q214Q203Q202Q201Q212Q20YTD21YTD20YTD20
Revenue:
Investment services fees:
Asset servicing fees (ex. securities lending revenue) (a)
$1,150 $1,150 $1,094 $1,119 $1,113 — %3 %$2,300 $2,214 4 %
Securities lending revenue42 41 36 37 51 2 (18)83 97 (14)
Clearing services fees (b)
435 455 418 397 431 (4)1 890 901 (1)
Issuer services fees281 245 257 295 277 15 1 526 540 (3)
Treasury services fees160 157 156 152 144 2 11 317 293 8 
Total investment services fees2,068 2,048 1,961 2,000 2,016 1 3 4,116 4,045 2 
Foreign exchange revenue152 193 163 126 164 (21)(7)345 392 (12)
Other (c)
116 104 111 120 159 12 (27)220 338 (35)
Total fee and other revenue2,336 2,345 2,235 2,246 2,339 — — 4,681 4,775 (2)
Net interest revenue643 645 670 681 768 — (16)1,288 1,574 (18)
Total revenue2,979 2,990 2,905 2,927 3,107 — (4)5,969 6,349 (6)
Provision for credit losses(77)(79)31 (10)145 N/MN/M(156)294 N/M
Noninterest expense (ex. amortization of intangible assets)2,040 2,084 2,157 2,002 1,971 (2)4 4,124 3,940 5 
Amortization of intangible assets12 17 17 18 18 (29)(33)29 36 (19)
Total noninterest expense2,052 2,101 2,174 2,020 1,989 (2)3 4,153 3,976 4 
Income before taxes$1,004 $968 $700 $917 $973 4 %3 %$1,972 $2,079 (5)%
Pre-tax operating margin34 %32 %24 %31 %31 %33 %33 %
Total revenue by line of business:
Asset Servicing$1,382 $1,424 $1,357 $1,354 $1,463 (3)%(6)%$2,806 $2,994 (6)%
Pershing590 605 563 538 578 (2)2 1,195 1,231 (3)
Issuer Services405 363 385 435 431 12 (6)768 850 (10)
Treasury Services319 317 325 323 340 1 (6)636 679 (6)
Clearance and Collateral Management283 281 275 277 295 1 (4)564 595 (5)
Total revenue by line of business$2,979 $2,990 $2,905 $2,927 $3,107 — %(4)%$5,969 $6,349 (6)%
(a) Asset servicing fees include the fees from the Clearance and Collateral Management business.
(b) Clearing services fees are almost entirely earned by our Pershing business.
(c) Other revenue includes investment management fees, financing-related fees, distribution and servicing revenue, securities gains and losses and investment and other income.
N/M – Not meaningful.

9


THE BANK OF NEW YORK MELLON CORPORATION
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INVESTMENT SERVICES BUSINESS
2Q21 vs.YTD21 vs.
(dollars in millions, unless otherwise noted)2Q211Q214Q203Q202Q201Q212Q20YTD21YTD20YTD20
Average loans$46,845 $43,468 $41,437 $40,308 $43,113 8 %9 %$45,166 $42,451 6 %
Average assets$383,330 $385,054 $358,270 $329,324 $335,288 — %14 %$384,187 $319,689 20 %
Average deposits$313,923 $315,088 $292,631 $263,621 $268,467 — %17 %$314,502 $255,327 23 %
AUC/A at period end (in trillions) (a)(b)
$45.0 $41.7 $41.1 $38.6 $37.3 8 %21 %
Market value of securities on loan at period end (in billions) (c)
$456 $445 $435 $378 $384 2 %19 %
Pershing
Net new assets (U.S. platform) (in billions) (d)
$40 $28 $28 $12 $11 N/MN/M
Average active clearing accounts (U.S. platform) (in thousands)
6,889 6,757 6,635 6,556 6,507 2 %6 %
Average long-term mutual fund assets (U.S. platform)
$730,954 $678,556 $630,086 $597,312 $547,579 8 %33 %
Average investor margin loans (U.S. platform)
$12,097 $10,937 $10,097 $9,350 $9,235 11 %31 %
Clearance and Collateral Management
Average tri-party collateral management balances (in billions)
$3,898 $3,638 $3,555 $3,417 $3,573 7 %9 %
(a) June 30, 2021 information is preliminary.
(b) Consists of AUC/A primarily from the Asset Servicing business and, to a lesser extent, the Clearance and Collateral Management, Issuer Services, Pershing and Wealth Management businesses. Includes the AUC/A of CIBC Mellon of $1.7 trillion at June 30, 2021, $1.6 trillion at March 31, 2021, $1.5 trillion at Dec. 31, 2020, $1.4 trillion at Sept. 30, 2020 and $1.3 trillion at June 30, 2020.
(c) Represents the total amount of securities on loan in our agency securities lending program managed by the Investment Services business. Excludes securities for which BNY Mellon acts as agent on behalf of CIBC Mellon clients, which totaled $63 billion at June 30, 2021, $64 billion at March 31, 2021, $68 billion at Dec. 31, 2020 and $62 billion at Sept. 30, 2020 and June 30, 2020.
(d) Net new assets represent net flows of assets excluding dividends and interest (e.g., net cash deposits and net securities transfers) in customer accounts in Pershing LLC, a U.S. broker-dealer.
N/M – Not meaningful.

10


THE BANK OF NEW YORK MELLON CORPORATION
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INVESTMENT AND WEALTH MANAGEMENT BUSINESS
2Q21 vs.YTD21 vs.
(dollars in millions)2Q211Q214Q203Q202Q201Q212Q20YTD21YTD20YTD20
Revenue:
Investment management fees (a)
$876 $850 $839 $828 $782 3 %12 %$1,726 $1,594 8 %
Performance fees14 40 45 7 5 N/M18054 55 (2)
Investment management and performance fees (b)
890 890 884 835 787 — 13 1,780 1,649 8 
Distribution and servicing28 28 29 31 34 — (18)56 77 (27)
Other (a)
34 25 27 5 17 N/MN/M59 (42)N/M
Total fee and other revenue (a)
952 943 940 871 838 1 14 1,895 1,684 13 
Net interest revenue47 48 50 47 48 (2)(2)95 100 (5)
Total revenue 999 991 990 918 886 1 13 1,990 1,784 12 
Provision for credit losses(4)4 (8)12 7 N/MN/M— 16 N/M
Noninterest expense (ex. amortization of intangible assets)669 702 678 653 650 (5)3 1,371 1,337 3 
Amortization of intangible assets8 7 9 8 8 14 — 15 16 (6)
Total noninterest expense677 709 687 661 658 (5)3 1,386 1,353 2 
Income before taxes$326 $278 $311 $245 $221 17 %48 %$604 $415 46 %
Pre-tax operating margin33 %28 %32 %27 %25 %30 %23 %
Adjusted pre-tax operating margin – Non-GAAP (c)
35 %30 %34 %29 %28 %33 %26 %
Total revenue by line of business:
Investment Management$700 $698 $714 $641 $621 — %13 %$1,398 $1,241 13 %
Wealth Management299 293 276 277 265 2 13 592 543 9 
Total revenue by line of business$999 $991 $990 $918 $886 1 %13 %$1,990 $1,784 12 %
Average loans$11,871 $11,610 $11,497 $11,503 $11,791 2 %1 %$11,742 $11,958 (2)%
Average assets$30,370 $32,066 $30,804 $30,160 $30,327 (5)%— %$31,213 $30,435 3 %
Average deposits$17,466 $19,177 $18,144 $17,570 $17,491 (9)%— %$18,317 $16,817 9 %
(a) Total fee and other revenue includes the impact of the consolidated investment management funds, net of noncontrolling interests. Additionally, other revenue includes asset servicing fees, treasury services fees, foreign exchange revenue and investment and other income.
(b) On a constant currency basis (Non-GAAP), investment management and performance fees increased 9% compared with 2Q20. See "Supplemental Information – Explanation of GAAP and Non-GAAP Financial Measures" beginning on page 16 for the reconciliation of this Non-GAAP measure.
(c) Net of distribution and servicing expense. See "Supplemental Information – Explanation of GAAP and Non-GAAP Financial Measures" beginning on page 16 for the reconciliation of this Non-GAAP measure.
N/M – Not meaningful.
11


THE BANK OF NEW YORK MELLON CORPORATION
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AUM BY PRODUCT, AUM FLOWS AND WEALTH MANAGEMENT CLIENT ASSETS
2Q21 vs.YTD21 vs.
(dollars in billions)2Q211Q214Q203Q202Q201Q212Q20YTD21YTD20YTD20
AUM by product type (a)(b)
Equity$187 $173 $170 $149 $141 8 %33 %
Fixed income272 261 259 241 224 4 21 
Index440 419 393 350 333 5 32 
Liability-driven investments841 802 855 788 752 5 12 
Multi-asset and alternative investments222 214 209 193 185 4 20 
Cash358 345 325 320 326 4 10 
Total AUM by product type$2,320 $2,214 $2,211 $2,041 $1,961 5 %18 %
Changes in AUM (a)(b)
Beginning balance of AUM$2,214 $2,211 $2,041 $1,961 $1,796 $2,211 $1,910 
Net inflows (outflows):
Long-term strategies:
Equity(3)— (2)(4)(2)(3)(4)
Fixed income8 8 5 1 4 16 4 
Liability-driven investments11 8 15 14 (2)19 (7)
Multi-asset and alternative investments1 (2)— (3)— (1)(1)
Total long-term active strategies inflows (outflows)17 14 18 8 — 31 (8)
Index(5)3 (3)(3)9 (2)12 
Total long-term strategies inflows12 17 15 5 9 29 4 
Short-term strategies:
Cash13 19 5 (10)11 32 54 
Total net inflows (outflows)25 36 20 (5)20 61 58 
Net market impact79 (36)93 41 143 43 52 
Net currency impact2 3 57 44 2 5 (59)
Ending balance of AUM$2,320 $2,214 $2,211 $2,041 $1,961 5 %18 %$2,320 $1,961 18 %
Wealth Management client assets (a)(c)
$305 $292 $286 $265 $254 4 %20 %
(a) June 30, 2021 information is preliminary.
(b) Excludes securities lending cash management assets and assets managed in the Investment Services business.
(c) Includes AUM and AUC/A in the Wealth Management business.


12


THE BANK OF NEW YORK MELLON CORPORATION
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OTHER SEGMENT
(in millions)2Q211Q214Q203Q202Q20YTD21YTD20
Fee revenue$13 $9 $11 $7 $10 $22 $16 
Other revenue9 (36)(28)13 28 (27)52 
Total fee and other revenue22 (27)(17)20 38 (5)68 
Net interest (expense)(45)(38)(40)(25)(36)(83)(80)
Total revenue(23)(65)(57)(5)2 (88)(12)
Provision for credit losses(5)(8)(8)7 (9)(13)2 
Noninterest expense49 41 64 — 39 90 69 
(Loss) before taxes$(67)$(98)$(113)$(12)$(28)$(165)$(83)
Average loans and leases$1,804 $1,711 $1,794 $1,805 $1,815 $1,757 $1,887 
Average assets $38,629 $43,259 $48,414 $55,381 $49,744 $40,932 $50,194 

13


THE BANK OF NEW YORK MELLON CORPORATION
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SECURITIES PORTFOLIO
(dollars in millions)March 31, 20212Q21
change in
unrealized
gain (loss)		June 30, 2021
Fair value
as a % of amortized
cost (a)
Unrealized
gain (loss)		% Floating
rate
Ratings (c)
Amortized
cost		Fair valueAAA/
AA-		A+/
A-		BBB+/
BBB-		BB+ and
lower		A1+/
A2 & SP-1		Not
rated
 Fair value(b)
Agency RMBS$58,831 $66 $53,154 $53,944 101 %$790 14 %100 %— %— %— %— %— %
U.S. Treasury30,595 (28)34,112 34,267 100 155 53 100 — — — — — 
Sovereign debt/sovereign guaranteed
14,571 (6)14,098 14,209 101 111 16 75 5 19 1 — — 
Agency commercial MBS11,730 72 11,360 11,678 103 318 30 100 — — — — — 
Supranational7,505 — 8,121 8,157 100 36 56 100 — — — — — 
Foreign covered bonds
6,542 (10)6,752 6,793 101 41 35 100 — — — — — 
U.S. government agencies
5,469 43 5,446 5,460 100 14 25 100 — — — — — 
CLOs4,754 (1)5,137 5,139 100 2 100 99 — — — — 1 
Non-agency commercial MBS
2,948 41 3,181 3,263 103 82 24 99 1 — — — — 
Foreign government agencies
2,697 (4)2,693 2,708 101 15 13 92 8 — — — — 
State and political subdivisions
2,649 27 2,610 2,621 100 11 — 83 10 — — 6 1 
Non-agency RMBS (d)
2,509 (5)2,391 2,530 106 139 50 74 4 — 11 — 11 
Other asset-backed securities
2,628 (1)2,446 2,456 100 10 19 100 — — — — — 
Corporate bonds2,238 50 2,348 2,347 100 (1)— 16 68 16 — — — 
Other1 — 1 1 100 — — — — — — — 100 
Total securities
$155,667 (e)$244 $153,850 $155,573 (e)(f)101 %$1,723 (e)(g)31 %96 %2 %2 %— %— %— %
(a) Amortized cost reflects historical impairments, and is net of allowance for credit losses.
(b) Includes the impact of hedges.
(c) Represents ratings by S&P, or the equivalent.
(d) Includes RMBS that were included in the former Grantor Trust of $451 million at March 31, 2021 and $416 million at June 30, 2021.
(e) Includes net unrealized losses on derivatives hedging securities available-for-sale (including terminated hedges) of $634 million at March 31, 2021 and $927 million at June 30, 2021.
(f) The fair value of available-for-sale securities totaled $102,654 million at June 30, 2021, net of hedges, or 66% of the fair value of the securities portfolio, net of hedges. The fair value of the held-to-maturity securities totaled $52,919 million at June 30, 2021, or 34% of the fair value of the securities portfolio, net of hedges.
(g) At June 30, 2021, unrealized gains of $1,129 million related to available-for-sale securities, net of hedges, and $594 million related to held-to-maturity securities.
Note: The amortizable purchase premium (net of discount) relating to securities was $1,949 million at June 30, 2021 and the amortization of that net purchase premium was $174 million in 2Q21.

14


THE BANK OF NEW YORK MELLON CORPORATION
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ALLOWANCE FOR CREDIT LOSSES AND NONPERFORMING ASSETS
20212020
(dollars in millions)June 30March 31Dec. 31Sept. 30June 30
Allowance for credit losses – beginning of period:
Allowance for loan losses$327 $358 $325 $302 $140 
Allowance for lending-related commitments73 121 135 152 148 
Allowance for other financial instruments (a)
19 22 26 21 41 
Allowance for credit losses – beginning of period$419 $501 $486 $475 $329 
Net (charge-offs) recoveries:
Charge-offs(1)(1)(1)— — 
Recoveries3 2 1 2 3 
Total net recoveries1 1 — 2 3 
Provision for credit losses (b)
(86)(83)15 9 143 
Allowance for credit losses - end of period$335 $419 $501 $486 $475 
Allowance for credit losses – end of period:
Allowance for loan losses$269 $327 $358 $325 $302 
Allowance for lending-related commitments50 73 121 135 152 
Allowance for other financial instruments (a)
16 19 22 26 21 
Allowance for credit losses – end of period$335 $419 $501 $486 $475 
Allowance for loan losses as a percentage of total loans0.42 %0.54 %0.63 %0.59 %0.55 %
Nonperforming assets$90 $112 $89 $84 $88 
(a) Includes allowance for credit losses on federal funds sold and securities purchased under resale agreements, available-for-sale securities, accounts receivable, cash and due from banks and interest-bearing deposits with banks.
(b) Includes all other instruments within the scope of ASU 2016-13, Financial Instruments – Credit Losses: Measurement of Credit Losses on Financial Instruments.

15


THE BANK OF NEW YORK MELLON CORPORATION
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SUPPLEMENTAL INFORMATION – EXPLANATION OF GAAP AND NON-GAAP FINANCIAL MEASURES
BNY Mellon has included in this Financial Supplement certain Non-GAAP financial measures on a tangible basis as a supplement to GAAP information, which exclude goodwill and intangible assets, net of deferred tax liabilities. We believe that the return on tangible common equity – Non-GAAP is additional useful information for investors because it presents a measure of those assets that can generate income, and the tangible book value per common share – Non-GAAP is additional useful information because it presents the level of tangible assets in relation to shares of common stock outstanding.
Net interest revenue, on a fully taxable equivalent ("FTE") basis – Non-GAAP and net interest margin (FTE) – Non-GAAP and other FTE measures include the tax equivalent adjustments on tax-exempt income which allows for the comparison of amounts arising from both taxable and tax-exempt sources and is consistent with industry practice. The adjustment to an FTE basis has no impact on net income.
BNY Mellon has also included the adjusted pre-tax operating margin – Non-GAAP, which is the pre-tax operating margin for the Investment and Wealth Management business, net of distribution and servicing expense that was passed to third parties who distribute or service our managed funds. We believe that this measure is useful when evaluating the performance of the Investment and Wealth Management business relative to industry competitors.
The presentation of the growth rates of investment management and performance fees on a constant currency basis permits investors to assess the significance of changes in foreign currency exchange rates. Growth rates on a constant currency basis were determined by applying the current period foreign currency exchange rates to the prior period revenue. We believe that this presentation, as a supplement to GAAP information, gives investors a clearer picture of the related revenue results without the variability caused by fluctuations in foreign currency exchange rates.
Notes:
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.
Return on common and tangible common equity ratios are annualized.
Return on common equity and tangible common equity reconciliation
(dollars in millions)2Q211Q214Q203Q202Q20YTD21YTD20
Net income applicable to common shareholders of The Bank of New York Mellon Corporation – GAAP
$991 $858 $702 $876 $901 $1,849 $1,845 
Add: Amortization of intangible assets20 24 26 26 26 44 52 
Less: Tax impact of amortization of intangible assets5 6 6 7 6 11 12 
Adjusted net income applicable to common shareholders of The Bank of New York Mellon Corporation, excluding amortization of intangible assets – Non-GAAP
$1,006 $876 $722 $895 $921 $1,882 $1,885 
Average common shareholders’ equity$40,393 $40,720 $40,712 $39,924 $38,476 40,556 $38,070 
Less: Average goodwill17,517 17,494 17,411 17,357 17,243 17,506 17,277 
 Average intangible assets2,975 3,000 3,019 3,039 3,058 2,987 3,073 
Add: Deferred tax liability – tax deductible goodwill1,163 1,153 1,144 1,132 1,119 1,163 1,119 
 Deferred tax liability – intangible assets675 665 667 666 664 675 664 
Average tangible common shareholders’ equity – Non-GAAP$21,739 $22,044 $22,093 $21,326 $19,958 $21,901 $19,503 
Return on common equity – GAAP 9.8 %8.5 %6.9 %8.7 %9.4 %9.2 %9.7 %
Return on tangible common equity – Non-GAAP18.6 %16.1 %13.0 %16.7 %18.5 %17.3 %19.4 %

16


THE BANK OF NEW YORK MELLON CORPORATION
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SUPPLEMENTAL INFORMATION – EXPLANATION OF GAAP AND NON-GAAP FINANCIAL MEASURES
Book value and tangible book value per common share reconciliation20212020
(dollars in millions, except common shares)June 30March 31Dec. 31Sept. 30June 30
BNY Mellon shareholders’ equity at period end – GAAP$45,281 $44,954 $45,801 $44,917 $43,697 
Less: Preferred stock4,541 4,541 4,541 4,532 4,532 
BNY Mellon common shareholders’ equity at period end – GAAP40,740 40,413 41,260 40,385 39,165 
Less: Goodwill17,487 17,469 17,496 17,357 17,253 
Intangible assets2,964 2,983 3,012 3,026 3,045 
Add: Deferred tax liability – tax deductible goodwill1,163 1,153 1,144 1,132 1,119 
Deferred tax liability – intangible assets675 665 667 666 664 
BNY Mellon tangible common shareholders’ equity at period end – Non-GAAP$22,127 $21,779 $22,563 $21,800 $20,650 
Period-end common shares outstanding (in thousands)
863,174 875,481 886,764 886,136 885,862 
Book value per common share – GAAP$47.20 $46.16 $46.53 $45.58 $44.21 
Tangible book value per common share – Non-GAAP$25.64 $24.88 $25.44 $24.60 $23.31 
Net interest margin reconciliation
(dollars in millions)2Q211Q214Q203Q202Q20
Net interest revenue – GAAP$645 $655 $680 $703 $780 
Add: Tax equivalent adjustment3 3 3 2 2 
Net interest revenue (FTE) – Non-GAAP$648 $658 $683 $705 $782 
Average interest-earning assets$388,285 $397,297 $378,674 $357,634 $357,562 
Net interest margin – GAAP (a)
0.67 %0.66 %0.72 %0.79 %0.88 %
Net interest margin (FTE) – Non-GAAP (a)
0.67 %0.67 %0.72 %0.79 %0.88 %
(a) Net interest margin is annualized.

17


THE BANK OF NEW YORK MELLON CORPORATION
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SUPPLEMENTAL INFORMATION – EXPLANATION OF GAAP AND NON-GAAP FINANCIAL MEASURES
Pre-tax operating margin reconciliation - Investment and Wealth Management business
(dollars in millions)2Q211Q214Q203Q202Q20YTD21YTD20
Income before income taxes – GAAP$326 $278 $311 $245 $221 $604 $415 
Total revenue – GAAP$999 $991 $990 $918 $886 $1,990 $1,784 
Less: Distribution and servicing expense74 75 76 85 86 149 177 
Adjusted total revenue, net of distribution and servicing expense – Non-GAAP$925 $916 $914 $833 $800 $1,841 $1,607 
Pre-tax operating margin – GAAP (a)
33 %28 %32 %27 %25 %30 %23 %
Adjusted pre-tax operating margin, net of distribution and servicing expense – Non-GAAP (a)
35 %30 %34 %29 %28 %33 %26 %
(a) Income before income taxes divided by total revenue.
Constant currency reconciliations2Q21 vs.
(dollars in millions)2Q212Q202Q20
Consolidated:
Investment management and performance fees – GAAP$889 $786 13 %
Impact of changes in foreign currency exchange rates— 31 
Adjusted investment management and performance fees – Non-GAAP$889 $817 9 %
Investment and Wealth Management business:
Investment management and performance fees – GAAP$890 $787 13 %
Impact of changes in foreign currency exchange rates— 31 
Adjusted investment management and performance fees – Non-GAAP$890 $818 9 %

18

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