Form 8-K - Current report

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported) – October 11, 2024

THE BANK OF NEW YORK MELLON CORPORATION

(Exact name of registrant as specified in its charter)


Delaware	001-35651	13-2614959
(State or other jurisdiction of incorporation)	(Commission File Number)	(I.R.S. Employer Identification No.)

240 Greenwich Street

New York, New York 10286

(Address of principal executive offices) (Zip Code)

Registrant’s telephone number, including area code – (212) 495-1784

Not Applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

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)

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 under the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

ITEM 2.02. RESULTS OF OPERATIONS AND FINANCIAL CONDITION.

On October 11, 2024, The Bank of New York Mellon Corporation (“BNY”) released information on its financial results for the third quarter ended September 30, 2024. Copies of the Earnings Release and the Financial Supplement are attached hereto as Exhibit 99.1 and Exhibit 99.2, respectively, and are incorporated herein by reference.

ITEM 7.01. REGULATION FD DISCLOSURE.

On October 11, 2024, BNY will hold a conference call and webcast to discuss its financial results for the third quarter ended September 30, 2024 and outlook. A copy of the Financial Highlights presentation for the conference call and webcast is attached hereto as Exhibit 99.3.

ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS.

(d) EXHIBITS.


Exhibit
Number						Description

99.1						The Bank of New York Mellon Corporation Earnings Release dated October 11, 2024, announcing financial results for the third quarter of 2024.
						The quotation in Exhibit 99.1 (the “Excluded Section”) shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 (“Exchange Act”) or otherwise subject to the liabilities under that Section and shall not be deemed to be incorporated by reference into any filing of BNY under the Securities Act of 1933 or the Exchange Act. The information included in Exhibit 99.1, other than in the Excluded Section, shall be deemed “filed” for purposes of the Exchange Act.

99.2						The Bank of New York Mellon Corporation Financial Supplement dated October 11, 2024, for the third quarter of 2024.
						The information included in Exhibit 99.2 shall be deemed “filed” for purposes of the Exchange Act.

99.3						Third Quarter 2024 Financial Highlights Presentation dated October 11, 2024.
						The information included in Exhibit 99.3 shall not be deemed “filed” for purposes of Section 18 of the Exchange Act or otherwise subject to the liabilities under that Section and shall not be deemed to be incorporated by reference into any filing of BNY under the Securities Act of 1933 or the Exchange Act.

104						Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.


	The Bank of New York Mellon Corporation (Registrant)
Date: October 11, 2024	By:	/s/ Jean Weng
	Name: Title:	Jean Weng Secretary

3Q24

FINANCIALRESULTS

BNY Reports Third Quarter 2024

Earnings Per Common Share of $1.50, or $1.52 as Adjusted (a)

NEW YORK, October 11, 2024 – The Bank of New York Mellon Corporation (“BNY”) (NYSE: BK) today has reported financial results for the third quarter of 2024.


CEO COMMENTARY


			BNY reported strong third quarter results, reflecting growth across our three business segments and consistent execution against our strategic priorities, with assets under custody and/or administration exceeding $50 trillion for the first time. The company reported earnings per share of $1.50, up 22% year-over-year. Excluding the impact of notable items, earnings per share were $1.52, up 20% year-over-year, and we generated a return on tangible common equity of 23% in the third quarter.

Our actions to run our company better, including our ongoing transition to a platforms operating model, are starting to deliver progress toward our medium-term financial targets and additional capacity to reinvest for growth through new and enhanced client solutions. In the third quarter, this focus on being more for our clients included the announcement of the planned acquisition of Archer, that will deliver an enterprise solution to clients in the fast-growing managed account ecosystem, and the introduction of Alts Bridge to broaden investor access to Alternatives.



Powering our one-BNY culture is essential to continued execution, and I want to thank our employees for their hard work. The combination of our talented team, our portfolio of leading businesses working together, and the strength of our balance sheet, gives us a great foundation to deliver more to our clients and drive sustainable, long-term shareholder value.
– Robin Vince, President and Chief Executive Officer


KEY FINANCIAL INFORMATION


(dollars in millions, except per share amounts and unless otherwise noted)				3Q24 vs.
	3Q24			2Q24		3Q23
Selected income statement data:

Total fee revenue	$	3,404		—	%	5	%
Investment and other revenue	196			N/M		N/M
Net interest income	1,048			2		3
Total revenue	$	4,648		1	%	5	%
Provision for credit losses	23			N/M		N/M
Noninterest expense	$	3,100		1	%	—	%
Net income applicable to common shareholders	$	1,110		(3)	%	16	%
Diluted EPS	$	1.50		(1)	%	22	%

Selected metrics:

AUC/A (in trillions)	$	52.1		5	%	14	%
AUM (in trillions)	$	2.1		5	%	18	%

Financial ratios:	3Q24			2Q24		3Q23

Pre-tax operating margin	33		%	33	%	30	%
ROE	12.0		%	12.7	%	10.6	%
ROTCE (a)	22.8		%	24.6	%	20.6	%

Capital ratios:

Tier 1 leverage ratio	6.0		%	5.8	%	6.1	%
CET1 ratio	11.9		%	11.4	%	11.3	%


HIGHLIGHTS

Results

•Total revenue of $4.6 billion, increased 5%

•Noninterest expense of $3.1 billion, was flat; or increased 1% excluding notable items (a)

•Diluted EPS of $1.50, increased 22%; or 20% excluding notable items (a)

Profitability

•Pre-tax operating margin of 33%; and 33% excluding notable items (a)

•ROTCE of 22.8% (a); or 23.2% excluding notable items (a)

Balance sheet

•Average deposits of $285 billion, increased 9% year-over-year and were flat sequentially

•Tier 1 leverage ratio of 6.0%, decreased 4 bps year-over-year and increased 19 bps sequentially

Capital distribution

•Returned $1,078 million of capital to common shareholders

•$353 million of dividends

•$725 million of share repurchases

•Total payout ratio of 103% year-to-date

$1.50

EPS

$1.52 (a)

Adj. EPS

33%

Pre-tax margin

33% (a)

Adj. Pre-tax margin

12.0%

ROE

23.2% (a)

Adj. ROTCE



(a) For information on the Non-GAAP measures, see “Explanation of GAAP and Non-GAAP financial measures” beginning on page 9.

Note: Above comparisons are 3Q24 vs. 3Q23, unless otherwise noted.
Investor Relations: Marius Merz (212) 298-1480			Media Relations: Garrett Marquis (949) 683-1503


BNY 3Q24 Financial Results

CONSOLIDATED FINANCIAL HIGHLIGHTS


(dollars in millions, except per share amounts and unless otherwise noted; not meaningful - N/M)										3Q24 vs.
	3Q24			2Q24			3Q23			2Q24		3Q23
Fee revenue	$	3,404		$	3,398		$	3,245		—	%	5	%
Investment and other revenue	196			169			159			N/M		N/M
Total fee and other revenue	3,600			3,567			3,404			1		6
Net interest income	1,048			1,030			1,016			2		3
Total revenue	4,648			4,597			4,420			1		5
Provision for credit losses	23			—			3			N/M		N/M
Noninterest expense	3,100			3,070			3,089			1		—
Income before taxes	1,525			1,527			1,328			—		15
Provision for income taxes	336			357			285			(6)		18
Net income	$	1,189		$	1,170		$	1,043		2	%	14	%
Net income applicable to common shareholders of The Bank of New York Mellon Corporation	$	1,110		$	1,143		$	958		(3)	%	16	%
Operating leverage (a)										13	bps	480	bps
Diluted earnings per common share	$	1.50		$	1.52		$	1.23		(1)	%	22	%
Average common shares and equivalents outstanding - diluted (in thousands)	742,080			751,596			781,781
Pre-tax operating margin	33		%	33		%	30		%

Metrics:
Average loans	$	69,205		$	68,283		$	63,962		1	%	8	%
Average deposits	284,686			284,843			262,108			—		9
AUC/A at period end (in trillions) (current period is preliminary)	52.1			49.5			45.7			5		14
AUM at period end (in trillions) (current period is preliminary)	2.14			2.05			1.82			5		18
Non-GAAP measures, excluding notable items: (b)
Adjusted total revenue	$	4,648		$	4,597		$	4,418		1	%	5	%
Adjusted noninterest expense	$	3,075		$	3,077		$	3,043		—%		1	%
Adjusted operating leverage (a)										117	bps	416	bps
Adjusted diluted earnings per common share	$	1.52		$	1.51		$	1.27		1	%	20	%
Adjusted pre-tax operating margin	33		%	33		%	31		%

(a) Operating leverage is the rate of increase (decrease) in total revenue less the rate of increase (decrease) in total noninterest expense.

(b) See “Explanation of GAAP and Non-GAAP financial measures” beginning on page 9 for additional information.

bps – basis points.

KEY DRIVERS (comparisons are 3Q24 vs. 3Q23, unless otherwise noted)

•Total revenue increased 5%, primarily reflecting:

•Fee revenue increased 5%, primarily reflecting higher market values, net new business and higher foreign exchange revenue.

•Investment and other revenue increased primarily reflecting a strategic equity investment loss recorded in 3Q23 and improved results from our seed capital investments.

•Net interest income increased 3%, primarily reflecting improved investment securities portfolio yields and balance sheet growth, partially offset by changes in deposit mix.

•Provision for credit losses was $23 million, primarily driven by reserve increases related to commercial real estate exposure.

•Noninterest expense was flat reflecting higher investments and employee merit increases, offset by efficiency savings and a reduction in the FDIC special assessment. Excluding notable items (a), noninterest expense increased 1%.

•Effective tax rate of 22.0%.

Assets under custody and/or administration (“AUC/A”) and Assets under management (“AUM”)

•AUC/A increased 14%, primarily reflecting higher market values, client inflows and net new business.

•AUM increased 18%, primarily reflecting higher market values and the favorable impact of a weaker U.S. dollar.

Capital and liquidity

•$353 million of dividends to common shareholders (b); $725 million of common share repurchases.

•Return on common equity (“ROE”) – 12.0%; Adjusted ROE – 12.2% (a).

•Return on tangible common equity (“ROTCE”) – 22.8% (a); Adjusted ROTCE - 23.2% (a).

•Common Equity Tier 1 (“CET1”) ratio – 11.9%.

•Tier 1 leverage ratio – 6.0%.

•Average liquidity coverage ratio (“LCR”) – 116%; Average net stable funding ratio (“NSFR”) – 132%.

•Total Loss Absorbing Capacity (“TLAC”) ratios exceed minimum requirements.

(a) See “Explanation of GAAP and Non-GAAP financial measures” beginning on page 9 for additional information.

(b) Including dividend-equivalents on share-based awards.

Note: Throughout this document, sequential growth rates are unannualized.


2


BNY 3Q24 Financial Results

SECURITIES SERVICES BUSINESS SEGMENT HIGHLIGHTS


(dollars in millions, unless otherwise noted; not meaningful - N/M)										3Q24 vs.
	3Q24			2Q24			3Q23			2Q24		3Q23
Investment services fees:
Asset Servicing	$	1,021		$	1,018		$	976		—	%	5	%
Issuer Services	285			322			281			(11)		1
Total investment services fees	1,306			1,340			1,257			(3)		4
Foreign exchange revenue	137			144			107			(5)		28
Other fees (a)	57			56			52			2		10
Total fee revenue	1,500			1,540			1,416			(3)		6
Investment and other revenue	105			104			65			N/M		N/M
Total fee and other revenue	1,605			1,644			1,481			(2)		8
Net interest income	609			595			600			2		2
Total revenue	2,214			2,239			2,081			(1)		6
Provision for credit losses	15			(3)			19			N/M		N/M
Noninterest expense	1,557			1,554			1,598			—		(3)
Income before taxes	$	642		$	688		$	464		(7)	%	38	%

Total revenue by line of business:
Asset Servicing	$	1,720		$	1,687		$	1,585		2	%	9	%
Issuer Services	494			552			496			(11)		—
Total revenue by line of business	$	2,214		$	2,239		$	2,081		(1)	%	6	%

Pre-tax operating margin	29		%	31		%	22		%

Securities lending revenue (b)	$	47		$	46		$	46		2	%	2	%

Metrics:
Average loans	$	11,077		$	11,103		$	11,236		—	%	(1)	%
Average deposits	$	180,500		$	178,495		$	162,509		1	%	11	%

AUC/A at period end (in trillions) (current period is preliminary) (c)	$	37.5		$	35.7		$	32.3		5	%	16	%
Market value of securities on loan at period end (in billions) (d)	$	484		$	481		$	406		1	%	19	%

(a) Other fees primarily include financing-related fees.

(b) Included in investment services fees reported in the Asset Servicing line of business.

(c) Consists of AUC/A primarily from the Asset Servicing line of business and, to a lesser extent, the Issuer Services line of business. Includes the AUC/A of CIBC Mellon Global Securities Services Company (“CIBC Mellon”), a joint venture with the Canadian Imperial Bank of Commerce, of $1.9 trillion at Sept. 30, 2024, $1.7 trillion at June 30, 2024 and $1.5 trillion at Sept. 30, 2023.

(d) Represents the total amount of securities on loan in our agency securities lending program. Excludes securities for which BNY acts as agent on behalf of CIBC Mellon clients, which totaled $67 billion at Sept. 30, 2024, $66 billion at June 30, 2024 and $63 billion at Sept. 30, 2023.

KEY DRIVERS

•The drivers of the total revenue variances by line of business are indicated below.

•Asset Servicing – The year-over-year increase primarily reflects higher market values and client activity, a strategic equity investment loss recorded in 3Q23, net new business and higher net interest income. The sequential increase primarily reflects higher net interest income and market values.

•Issuer Services – Total revenue was flat year-over-year reflecting higher Corporate Trust fees, offset by lower Depositary Receipts revenue. The sequential decrease primarily reflects lower Depositary Receipts revenue and net interest income.

•Noninterest expense decreased year-over-year primarily reflecting efficiency savings and lower severance expense, partially offset by higher investments and employee merit increases.


3


BNY 3Q24 Financial Results

MARKET AND WEALTH SERVICES BUSINESS SEGMENT HIGHLIGHTS


(dollars in millions, unless otherwise noted; not meaningful - N/M)										3Q24 vs.
	3Q24			2Q24			3Q23			2Q24		3Q23
Investment services fees:
Pershing	$	475		$	474		$	478		—	%	(1)	%
Treasury Services	200			202			180			(1)		11
Clearance and Collateral Management	354			338			305			5		16
Total investment services fees	1,029			1,014			963			1		7
Foreign exchange revenue	23			23			21			—		10
Other fees (a)	58			58			49			—		18
Total fee revenue	1,110			1,095			1,033			1		7
Investment and other revenue	20			23			16			N/M		N/M
Total fee and other revenue	1,130			1,118			1,049			1		8
Net interest income	415			417			401			—		3
Total revenue	1,545			1,535			1,450			1		7
Provision for credit losses	7			(2)			6			N/M		N/M
Noninterest expense	834			833			792			—		5
Income before taxes	$	704		$	704		$	652		—	%	8	%

Total revenue by line of business:
Pershing	$	649		$	663		$	657		(2)	%	(1)	%
Treasury Services	424			426			397			—		7
Clearance and Collateral Management	472			446			396			6		19
Total revenue by line of business	$	1,545		$	1,535		$	1,450		1	%	7	%

Pre-tax operating margin	46		%	46		%	45		%

Metrics:
Average loans	$	42,730		$	41,893		$	37,496		2	%	14	%
Average deposits	$	88,856		$	91,371		$	84,000		(3)	%	6	%

AUC/A at period end (in trillions) (current period is preliminary) (b)	$	14.3		$	13.4		$	13.1		7	%	9	%

(a) Other fees primarily include financing-related fees.

(b) Consists of AUC/A from the Clearance and Collateral Management and Pershing lines of business.

KEY DRIVERS

•The drivers of the total revenue variances by line of business are indicated below.

•Pershing – The year-over-year decrease primarily reflects lost business in the prior year and lower net interest income, partially offset by higher market values. The sequential decrease primarily reflects an equity investment gain recorded in 2Q24.

•Treasury Services – The year-over-year increase primarily reflects net new business. Total revenue was flat sequentially reflecting net new business, offset by lower net interest income.

•Clearance and Collateral Management – The year-over-year increase primarily reflects higher collateral management fees, clearance volumes and net interest income. The sequential increase primarily reflects higher clearance volumes and net interest income.

•Noninterest expense increased year-over-year primarily reflecting higher investments and employee merit increases, partially offset by efficiency savings.


4


BNY 3Q24 Financial Results

INVESTMENT AND WEALTH MANAGEMENT BUSINESS SEGMENT HIGHLIGHTS


(dollars in millions, unless otherwise noted; not meaningful - N/M)										3Q24 vs.
	3Q24			2Q24			3Q23			2Q24		3Q23
Investment management fees	$	782		$	754		$	748		4	%	5	%
Performance fees	13			8			30			N/M		N/M
Investment management and performance fees	795			762			778			4		2
Distribution and servicing fees	68			69			62			(1)		10
Other fees (a)	(68)			(64)			(50)			N/M		N/M
Total fee revenue	795			767			790			4		1
Investment and other revenue (b)	9			11			1			N/M		N/M
Total fee and other revenue (b)	804			778			791			3		2
Net interest income	45			43			39			5		15
Total revenue	849			821			830			3		2
Provision for credit losses	1			4			(9)			N/M		N/M
Noninterest expense	672			668			675			1		—
Income before taxes	$	176		$	149		$	164		18	%	7	%

Total revenue by line of business:
Investment Management	$	569		$	549		$	565		4	%	1	%
Wealth Management	280			272			265			3		6
Total revenue by line of business	$	849		$	821		$	830		3	%	2	%

Pre-tax operating margin	21		%	18		%	20		%
Adjusted pre-tax operating margin – Non-GAAP (c)	23		%	20		%	22		%

Metrics:
Average loans	$	13,648		$	13,520		$	13,519		1	%	1	%
Average deposits	$	10,032		$	11,005		$	13,578		(9)	%	(26)	%

AUM (in billions) (current period is preliminary) (d)	$	2,144		$	2,045		$	1,821		5	%	18	%
Wealth Management client assets (in billions) (current period is preliminary) (e)	$	333		$	308		$	292		8	%	14	%

(a) Other fees primarily include investment services fees.

(b) Investment and other revenue and total fee and other revenue are net of income (loss) attributable to noncontrolling interests related to consolidated investment management funds.

(c) Net of distribution and servicing expense. See “Explanation of GAAP and Non-GAAP financial measures” beginning on page 9 for information on this Non-GAAP measure.

(d) Represents assets managed in the Investment and Wealth Management business segment.

(e) Includes AUM and AUC/A in the Wealth Management line of business.

KEY DRIVERS

•The drivers of the total revenue variances by line of business are indicated below.

•Investment Management – The year-over-year increase primarily reflects higher market values and improved seed capital results, partially offset by lower performance fees and the mix of AUM flows. The sequential increase primarily reflects higher market values, seed capital gains and the timing of performance fees.

•Wealth Management – The year-over-year increase primarily reflects higher market values and net interest income, partially offset by changes in product mix. The sequential increase primarily reflects higher market values.

•Noninterest expense was flat year-over-year reflecting efficiency savings, offset by employee merit increases and higher investments.


5


BNY 3Q24 Financial Results

OTHER SEGMENT

The Other segment primarily includes the leasing portfolio, corporate treasury activities, including our securities portfolio, derivatives and other trading activity, renewable energy and other corporate investments, certain business exits and other corporate revenue and expense items.



(dollars in millions)	3Q24		2Q24		3Q23
Fee revenue	$	(1)	$	(4)	$	6
Investment and other revenue	55		29		74
Total fee and other revenue	54		25		80
Net interest (expense)	(21)		(25)		(24)
Total revenue	33		—		56
Provision for credit losses	—		1		(13)
Noninterest expense	37		15		24
(Loss) income before taxes	$	(4)	$	(16)	$	45

KEY DRIVERS

•Total revenue includes corporate treasury and other investment activity, including hedging activity which has an offsetting impact between fee and other revenue and net interest expense. The year-over-year decrease primarily reflects 3Q23 debt extinguishment gains. The sequential increase primarily reflects gains on real estate and other investments.

•Noninterest expense increased year-over-year primarily driven by higher staff expense, partially offset by a reduction in the FDIC special assessment. The sequential increase in noninterest expense primarily reflects the impact of the adjustments to the FDIC special assessment recorded in 3Q24 and 2Q24.


6


BNY 3Q24 Financial Results

CAPITAL AND LIQUIDITY


Capital and liquidity ratios	Sept. 30, 2024			June 30, 2024			Dec. 31, 2023
Consolidated regulatory capital ratios: (a)
CET1 ratio	11.9		%	11.4		%	11.5		%
Tier 1 capital ratio	14.5			14.0			14.2
Total capital ratio	15.6			15.0			14.9
Tier 1 leverage ratio (a)	6.0			5.8			6.0
Supplementary leverage ratio (a)	7.0			6.8			7.3
BNY shareholders’ equity to total assets ratio	9.8		%	9.5		%	9.9		%
BNY common shareholders’ equity to total assets ratio	8.8		%	8.5		%	8.9		%

Average LCR (a)	116		%	115		%	117		%
Average NSFR (a)	132		%	132		%	135		%

Book value per common share	$	51.78		$	49.46		$	47.97
Tangible book value per common share – Non-GAAP (b)	$	28.01		$	26.19		$	25.25




Common shares outstanding (in thousands)	727,078			737,957			759,344

(a) Regulatory capital and liquidity ratios for Sept. 30, 2024 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 Sept. 30, 2024 was the Standardized Approach for the CET1 and Tier 1 capital ratios and the Advanced Approaches for the Total capital ratio, for June 30, 2024 was the Standardized Approach, and for Dec. 31, 2023 was the Advanced Approaches.

(b) Tangible book value per common share – Non-GAAP excludes goodwill and intangible assets, net of deferred tax liabilities. See “Explanation of GAAP and Non-GAAP financial measures” beginning on page 9 for information on this Non-GAAP measure.

•CET1 capital totaled $19.7 billion and Tier 1 capital totaled $24.0 billion at Sept. 30, 2024, both increasing compared with June 30, 2024, primarily reflecting capital generated through earnings and improvements in accumulated other comprehensive income, partially offset by capital returned through common stock repurchases and dividends. The CET1 ratio increased compared with June 30, 2024 reflecting the increase in capital, partially offset by higher risk-weighted assets. The Tier 1 leverage ratio increased compared with June 30, 2024 reflecting the increase in capital, partially offset by higher average assets.

NET INTEREST INCOME


Net interest income										3Q24 vs.
(dollars in millions; not meaningful - N/M)	3Q24			2Q24			3Q23			2Q24		3Q23
Net interest income	$	1,048		$	1,030		$	1,016		2%		3%
Add: Tax equivalent adjustment	—			1			—			N/M		N/M
Net interest income, on a fully taxable equivalent (“FTE”) basis – Non-GAAP (a)	$	1,048		$	1,031		$	1,016		2%		3%

Net interest margin	1.16		%	1.15		%	1.18		%	1	bps	(2)	bps
Net interest margin (FTE) – Non-GAAP (a)	1.16		%	1.15		%	1.18		%	1	bps	(2)	bps

(a) Net interest income (FTE) – Non-GAAP and net interest margin (FTE) – Non-GAAP include the tax equivalent adjustments on tax-exempt income. See “Explanation of GAAP and Non-GAAP financial measures” beginning on page 9 for information on this Non-GAAP measure.

bps – basis points.

•Net interest income increased year-over-year primarily reflecting improved investment securities portfolio yields and balance sheet growth, partially offset by changes in deposit mix.

•The sequential increase in net interest income primarily reflects higher sponsored member cleared repo activity.


7


BNY 3Q24 Financial Results

THE BANK OF NEW YORK MELLON CORPORATION

Condensed Consolidated Income Statement


(dollars in millions)	Quarter ended						Year-to-date
	Sept. 30, 2024		June 30, 2024		Sept. 30, 2023		Sept. 30, 2024		Sept. 30, 2023

Fee and other revenue
Investment services fees	$	2,344	$	2,359	$	2,230	$	6,981	$	6,601
Investment management and performance fees	794		761		777		2,331		2,315
Foreign exchange revenue	175		184		154		511		488
Financing-related fees	53		53		45		163		147
Distribution and servicing fees	38		41		39		121		107
Total fee revenue	3,404		3,398		3,245		10,107		9,658
Investment and other revenue	196		169		159		547		437
Total fee and other revenue	3,600		3,567		3,404		10,654		10,095
Net interest income
Interest income	6,652		6,392		5,519		19,140		14,685
Interest expense	5,604		5,362		4,503		16,022		11,441
Net interest income	1,048		1,030		1,016		3,118		3,244
Total revenue	4,648		4,597		4,420		13,772		13,339
Provision for credit losses	23		—		3		50		35
Noninterest expense
Staff	1,736		1,720		1,755		5,313		5,264
Software and equipment	491		476		452		1,442		1,331
Professional, legal and other purchased services	370		374		368		1,093		1,121
Net occupancy	130		134		140		388		380
Sub-custodian and clearing	117		134		121		370		358
Distribution and servicing	90		88		87		274		265
Business development	48		50		36		134		122
Bank assessment charges	10		(7)		37		20		118

Amortization of intangible assets	12		13		15		37		43
Other	96		88		78		275		298
Total noninterest expense	3,100		3,070		3,089		9,346		9,300
Income
Income before taxes	1,525		1,527		1,328		4,376		4,004
Provision for income taxes	336		357		285		990		906
Net income	1,189		1,170		1,043		3,386		3,098
Net (income) attributable to noncontrolling interests related to consolidated investment management funds	(7)		(2)		(3)		(11)		(4)
Net income applicable to shareholders of The Bank of New York Mellon Corporation	1,182		1,168		1,040		3,375		3,094
Preferred stock dividends	(72)		(25)		(82)		(169)		(189)
Net income applicable to common shareholders of The Bank of New York Mellon Corporation	$	1,110	$	1,143	$	958	$	3,206	$	2,905


Earnings per share applicable to the common shareholders of The Bank of New York Mellon Corporation	Quarter ended						Year-to-date
	Sept. 30, 2024		June 30, 2024		Sept. 30, 2023		Sept. 30, 2024		Sept. 30, 2023
(in dollars)	Sept. 30, 2024		June 30, 2024		Sept. 30, 2023		Sept. 30, 2024		Sept. 30, 2023
Basic	$	1.51	$	1.53	$	1.23	$	4.29	$	3.68
Diluted	$	1.50	$	1.52	$	1.23	$	4.26	$	3.66


8


BNY 3Q24 Financial Results

EXPLANATION OF GAAP AND NON-GAAP FINANCIAL MEASURES

BNY has included in this Earnings Release 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 income, 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 has included the adjusted pre-tax operating margin – Non-GAAP, which is the pre-tax operating margin for the Investment and Wealth Management business segment, 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 segment relative to industry competitors.

See “Explanation of GAAP and Non-GAAP Financial Measures” in the Financial Supplement available at www.bny.com for additional reconciliations of Non-GAAP measures.

BNY has also included revenue measures excluding notable items, including disposal gains. Expense measures, excluding notable items, including severance expense, litigation reserves and the FDIC special assessment, are also presented. Litigation reserves represent accruals for loss contingencies that are both probable and reasonably estimable, but exclude standard business-related legal fees. Net income applicable to common shareholders of The Bank of New York Mellon Corporation, diluted earnings per share, operating leverage, return on common equity, return on tangible common equity and pre-tax operating margin, excluding the notable items mentioned above, are also provided. These measures are provided to permit investors to view the financial measures on a basis consistent with how management views the businesses.


Reconciliation of Non-GAAP measures, excluding notable items									3Q24 vs.
(dollars in millions, except per share amounts)	3Q24			2Q24		3Q23			2Q24		3Q23




Total revenue – GAAP	$	4,648		$	4,597	$	4,420		1	%	5	%

Less: Disposal gain (a)	—			—		2

Adjusted total revenue – Non-GAAP	$	4,648		$	4,597	$	4,418		1	%	5	%

Noninterest expense – GAAP	$	3,100		$	3,070	$	3,089		1	%	—	%
Less: Severance expense (b)	40			29		41
Litigation reserves (b)	2			2		5
FDIC special assessment (b)	(17)			(38)		—

Adjusted noninterest expense – Non-GAAP	$	3,075		$	3,077	$	3,043		—	%	1	%






Net income applicable to common shareholders of The Bank of New York Mellon Corporation – GAAP	$	1,110		$	1,143	$	958		(3)	%	16	%

Less: Disposal gain (a)	—			—		—

Severance expense (b)	(31)			(22)		(32)
Litigation reserves (b)	(2)			—		(4)
FDIC special assessment (b)	13			29		—

Adjusted net income applicable to common shareholders of The Bank of New York Mellon Corporation – Non-GAAP	$	1,130		$	1,136	$	994		(1)	%	14	%

Diluted earnings per common share – GAAP	$	1.50		$	1.52	$	1.23		(1)	%	22	%

Less: Disposal gain (a)	—			—		—

Severance expense (b)	(0.04)			(0.03)		(0.04)
Litigation reserves (b)	—			—		(0.01)
FDIC special assessment (b)	0.02			0.04		—
Total diluted earnings per common share impact of notable items	(0.03)		(c)	0.01		(0.05)
Adjusted diluted earnings per common share – Non-GAAP	$	1.52	(c)	$	1.51	$	1.27	(c)	1	%	20	%
Operating leverage – GAAP (d)									13	bps	480	bps
Adjusted operating leverage – Non-GAAP (d)									117	bps	416	bps

(a) Reflected in Investment and other revenue.

(b) Severance expense is reflected in Staff expense, Litigation reserves in Other expense, and FDIC special assessment in Bank assessment charges, respectively.

(d) Operating leverage is the rate of increase (decrease) in total revenue less the rate of increase (decrease) in total noninterest expense.

bps - basis points.


9


BNY 3Q24 Financial Results


Pre-tax operating margin reconciliation
(dollars in millions)	3Q24			2Q24			3Q23
Income before taxes – GAAP	$	1,525		$	1,527		$	1,328
Impact of notable items (a)	(25)			7			(44)
Adjusted income before taxes, excluding notable items – Non-GAAP	$	1,550		$	1,520		$	1,372

Total revenue – GAAP	$	4,648		$	4,597		$	4,420
Impact of notable items (a)	—			—			2
Adjusted total revenue, excluding notable items – Non-GAAP	$	4,648		$	4,597		$	4,418

Pre-tax operating margin – GAAP (b)	33		%	33		%	30		%
Adjusted pre-tax operating margin – Non-GAAP (b)	33		%	33		%	31		%

(a) See page 9 for details of notable items and line items impacted.

(b) Income before taxes divided by total revenue.


Return on common equity and return on tangible common equity reconciliation
(dollars in millions)	3Q24			2Q24			3Q23
Net income applicable to common shareholders of The Bank of New York Mellon Corporation – GAAP	$	1,110		$	1,143		$	958
Add: Amortization of intangible assets	12			13			15
Less: Tax impact of amortization of intangible assets	3			3			3
Adjusted net income applicable to common shareholders of The Bank of New York Mellon Corporation, excluding amortization of intangible assets – Non-GAAP	$	1,119		$	1,153		$	970
Impact of notable items (a)	(20)			7			(36)
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	$	1,139		$	1,146		$	1,006

Average common shareholders’ equity	$	36,772		$	36,044		$	35,873
Less: Average goodwill	16,281			16,229			16,237
Average intangible assets	2,827			2,834			2,875
Add: Deferred tax liability – tax deductible goodwill	1,220			1,213			1,197
Deferred tax liability – intangible assets	656			655			657
Average tangible common shareholders’ equity – Non-GAAP	$	19,540		$	18,849		$	18,615

Return on common equity – GAAP (b)	12.0		%	12.7		%	10.6		%
Adjusted return on common equity – Non-GAAP (b)	12.2		%	12.7		%	11.0		%

Return on tangible common equity – Non-GAAP (b)	22.8		%	24.6		%	20.6		%
Adjusted return on tangible common equity – Non-GAAP (b)	23.2		%	24.4		%	21.4		%

(a) See page 9 for details of notable items and line items impacted.

(b) Returns are annualized.


10


BNY 3Q24 Financial Results

CAUTIONARY STATEMENT ON FORWARD-LOOKING STATEMENTS

A number of statements in this Earnings Release and in our Financial Supplement may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including statements about our strategic priorities, acquisition and related integration activity, financial performance and financial targets. Preliminary business metrics and regulatory capital ratios are subject to change, possibly materially, as we complete our Quarterly Report on Form 10-Q for the quarter ended Sept. 30, 2024. Forward-looking statements are not guarantees of future results or occurrences, are inherently uncertain and are based upon current beliefs and expectations of future events, many of which are, by their nature, difficult to predict, outside of our control and subject to change.

By identifying these statements for you in this manner, we are alerting you to the possibility that our actual results may differ, possibly materially, from the anticipated results expressed or implied in these forward-looking statements as a result of a number of important factors, including the risk factors and other uncertainties set forth in our Annual Report on Form 10-K for the year ended Dec. 31, 2023 and our other filings with the Securities and Exchange Commission, and, with respect to any planned acquisition, such transaction not closing in a timely manner or at all or the anticipated benefits of such transaction not being fully realized.

You should not place undue reliance on any forward-looking statement. All forward-looking statements speak only as of the date on which they were made, and we undertake no obligation to update any forward-looking statement to reflect events or circumstances after such date or to reflect the occurrence of unanticipated events.

ABOUT BNY

BNY is a global financial services company that helps make money work for the world – managing it, moving it and keeping it safe. For 240 years BNY has partnered alongside clients, putting its expertise and platforms to work to help them achieve their ambitions. Today BNY helps over 90% of Fortune 100 companies and nearly all the top 100 banks globally to access the money they need. BNY supports governments in funding local projects and works with over 90% of the top 100 pension plans to safeguard investments for millions of individuals, and so much more. As of Sept. 30, 2024, BNY oversees $52.1 trillion in assets under custody and/or administration and $2.1 trillion in assets under management.

BNY is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Headquartered in New York City, BNY employs over 50,000 people globally and has been named among Fortune’s World’s Most Admired Companies and Fast Company’s Best Workplaces for Innovators. Additional information is available on www.bny.com. Follow on LinkedIn or visit the BNY Newsroom for the latest company news.

CONFERENCE CALL INFORMATION

Robin Vince, President and Chief Executive Officer, and Dermot McDonogh, Chief Financial Officer, will host a conference call and simultaneous live audio webcast at 11:00 a.m. ET on Oct. 11, 2024. This conference call and audio webcast will include forward-looking statements and may include other material information.

Investors and analysts wishing to access the conference call and audio webcast may do so by dialing (800) 390-5696 (U.S.) or (720) 452-9082 (International), and using the passcode: 200200, or by logging onto www.bny.com/investorrelations. Earnings materials will be available at www.bny.com/investorrelations beginning at approximately 6:30 a.m. ET on Oct. 11, 2024. An archived version of the third quarter conference call and audio webcast will be available beginning on Oct. 11, 2024 at approximately 2:00 p.m. ET through Nov. 11, 2024 at www.bny.com/investorrelations.


11


The Bank of New York Mellon Corporation

Financial Supplement

Third Quarter 2024


Table of Contents




Consolidated Results						Page
Consolidated Financial Highlights						3
Condensed Consolidated Income Statement						4
Condensed Consolidated Balance Sheet						5
Fee and Other Revenue						6
Average Balances and Interest Rates						7
Capital and Liquidity						8

Business Segment Results
Securities Services Business Segment						9
Market and Wealth Services Business Segment						11
Investment and Wealth Management Business Segment						13
AUM by Product Type, Changes in AUM and Wealth Management Client Assets						14
Other Segment						15

Other
Securities Portfolio						16
Allowance for Credit Losses and Nonperforming Assets						17

Supplemental Information
Explanation of GAAP and Non-GAAP Financial Measures						18


THE BANK OF NEW YORK MELLON CORPORATION
CONSOLIDATED FINANCIAL HIGHLIGHTS
(dollars in millions, except per common share amounts, or unless otherwise noted)																3Q24 vs.										YTD24 vs.
	3Q24			2Q24			1Q24			4Q23			3Q23			2Q24		3Q23		YTD24			YTD23			YTD23
Selected income statement data


Fee and other revenue	$	3,600		$	3,567		$	3,487		$	3,257		$	3,404		1	%	6	%	$	10,654		$	10,095		6	%
Net interest income	1,048			1,030			1,040			1,101			1,016			2		3		3,118			3,244			(4)
Total revenue	4,648			4,597			4,527			4,358			4,420			1		5		13,772			13,339			3
Provision for credit losses	23			—			27			84			3			N/M		N/M		50			35			N/M
Noninterest expense	3,100			3,070			3,176			3,995			3,089			1		—		9,346			9,300			—
Income before income taxes	1,525			1,527			1,324			279			1,328			—		15		4,376			4,004			9
Provision for income taxes	336			357			297			73			285			(6)		18		990			906			9
Net income	$	1,189		$	1,170		$	1,027		$	206		$	1,043		2	%	14	%	$	3,386		$	3,098		9	%
Net income applicable to common shareholders of The Bank of New York Mellon Corporation	$	1,110		$	1,143		$	953		$	162		$	958		(3)	%	16	%	$	3,206		$	2,905		10	%
Diluted earnings per common share	$	1.50		$	1.52		$	1.25		$	0.21		$	1.23		(1)	%	22	%	$	4.26		$	3.66		16	%
Average common shares and equivalents outstanding – diluted (in thousands)	742,080			751,596			762,268			772,102			781,781			(1)	%	(5)	%	752,555			793,364			(5)	%

Financial ratios (Returns are annualized)
Pre-tax operating margin	33		%	33		%	29		%	6		%	30		%					32		%	30		%
Return on common equity	12.0		%	12.7		%	10.7		%	1.8		%	10.6		%					11.8		%	10.9		%
Return on tangible common equity – Non-GAAP (a)	22.8		%	24.6		%	20.7		%	3.6		%	20.6		%					22.7		%	21.3		%
Non-U.S. revenue as a percentage of total revenue	35		%	36		%	34		%	36		%	36		%					35		%	35		%

Period end
Assets under custody and/or administration (“AUC/A”) (in trillions) (b)	$	52.1		$	49.5		$	48.8		$	47.8		$	45.7		5	%	14	%
Assets under management (“AUM”) (in trillions)	$	2.14		$	2.05		$	2.02		$	1.97		$	1.82		5	%	18	%
Full-time employees (c)	52,600			52,000			52,100			53,400			53,600			1	%	(2)	%
Book value per common share	$	51.78		$	49.46		$	48.44		$	47.97		$	46.84
Tangible book value per common share – Non-GAAP (a)	$	28.01		$	26.19		$	25.44		$	25.25		$	24.52
Cash dividends per common share	$	0.47		$	0.42		$	0.42		$	0.42		$	0.42
Common dividend payout ratio	32		%	28		%	34		%	202		%	35		%
Closing stock price per common share	$	71.86		$	59.89		$	57.62		$	52.05		$	42.65
Market capitalization	$	52,248		$	44,196		$	43,089		$	39,524		$	32,801
Common shares outstanding (in thousands)	727,078			737,957			747,816			759,344			769,073

Capital ratios at period end (d)
Common Equity Tier 1 (“CET1”) ratio	11.9		%	11.4		%	10.8		%	11.5		%	11.3		%
Tier 1 capital ratio	14.5		%	14.0		%	13.4		%	14.2		%	14.3		%
Total capital ratio	15.6		%	15.0		%	14.3		%	14.9		%	15.2		%
Tier 1 leverage ratio	6.0		%	5.8		%	5.9		%	6.0		%	6.1		%
Supplementary leverage ratio (“SLR”)	7.0		%	6.8		%	7.0		%	7.3		%	7.2		%
(a) Non-GAAP information, for all periods presented, excludes goodwill and intangible assets, net of deferred tax liabilities. See “Explanation of GAAP and Non-GAAP Financial Measures” beginning on page 18 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 $1.9 trillion at Sept. 30, 2024, $1.7 trillion at June 30, 2024, March 31, 2024 and Dec. 31, 2023 and $1.5 trillion at Sept. 30, 2023.
(c) Beginning March 31, 2024, the number of full-time employees excludes interns.
(d) Regulatory capital ratios for Sept. 30, 2024 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 Sept. 30, 2024 was the Standardized Approach for the CET1 and Tier 1 capital ratios and the Advanced Approaches for the Total capital ratio, for June 30, 2024 and March 31, 2024 was the Standardized Approach, and for Dec. 31, 2023 and Sept. 30, 2023 was the Advanced Approaches.


THE BANK OF NEW YORK MELLON CORPORATION
CONDENSED CONSOLIDATED INCOME STATEMENT

(dollars in millions, except per share amounts; common shares in thousands)											3Q24 vs.								YTD24 vs.
	3Q24		2Q24		1Q24		4Q23		3Q23		2Q24		3Q23		YTD24		YTD23		YTD23
Revenue
Investment services fees	$	2,344	$	2,359	$	2,278	$	2,242	$	2,230	(1)	%	5	%	$	6,981	$	6,601	6	%
Investment management and performance fees	794		761		776		743		777		4		2		2,331		2,315		1
Foreign exchange revenue	175		184		152		143		154		(5)		14		511		488		5
Financing-related fees	53		53		57		45		45		—		18		163		147		11
Distribution and servicing fees	38		41		42		41		39		(7)		(3)		121		107		13
Total fee revenue	3,404		3,398		3,305		3,214		3,245		—		5		10,107		9,658		5
Investment and other revenue	196		169		182		43		159		N/M		N/M		547		437		N/M
Total fee and other revenue	3,600		3,567		3,487		3,257		3,404		1		6		10,654		10,095		6
Net interest income	1,048		1,030		1,040		1,101		1,016		2		3		3,118		3,244		(4)
Total revenue	4,648		4,597		4,527		4,358		4,420		1		5		13,772		13,339		3
Provision for credit losses	23		—		27		84		3		N/M		N/M		50		35		N/M
Noninterest expense
Staff	1,736		1,720		1,857		1,831		1,755		1		(1)		5,313		5,264		1
Software and equipment	491		476		475		486		452		3		9		1,442		1,331		8
Professional, legal and other purchased services	370		374		349		406		368		(1)		1		1,093		1,121		(2)
Net occupancy	130		134		124		162		140		(3)		(7)		388		380		2
Sub-custodian and clearing	117		134		119		117		121		(13)		(3)		370		358		3
Distribution and servicing	90		88		96		88		87		2		3		274		265		3
Business development	48		50		36		61		36		(4)		33		134		122		10
Bank assessment charges	10		(7)		17		670		37		N/M		N/M		20		118		N/M

Amortization of intangible assets	12		13		12		14		15		(8)		(20)		37		43		(14)
Other	96		88		91		160		78		9		23		275		298		(8)
Total noninterest expense	3,100		3,070		3,176		3,995		3,089		1		—		9,346		9,300		—
Income before income taxes	1,525		1,527		1,324		279		1,328		—		15		4,376		4,004		9
Provision for income taxes	336		357		297		73		285		(6)		18		990		906		9
Net income	1,189		1,170		1,027		206		1,043		2		14		3,386		3,098		9
Net (income) loss attributable to noncontrolling interests	(7)		(2)		(2)		2		(3)		N/M		N/M		(11)		(4)		N/M
Preferred stock dividends	(72)		(25)		(72)		(46)		(82)		N/M		N/M		(169)		(189)		N/M
Net income applicable to common shareholders of The Bank of New York Mellon Corporation	$	1,110	$	1,143	$	953	$	162	$	958	(3)	%	16	%	$	3,206	$	2,905	10	%

Average common shares and equivalents outstanding: Basic	736,547		746,904		756,937		767,146		777,813		(1)	%	(5)	%	747,766		789,609		(5)	%
Diluted	742,080		751,596		762,268		772,102		781,781		(1)	%	(5)	%	752,555		793,364		(5)	%

Earnings per common share: Basic	$	1.51	$	1.53	$	1.26	$	0.21	$	1.23	(1)	%	23	%	$	4.29	$	3.68	17	%
Diluted	$	1.50	$	1.52	$	1.25	$	0.21	$	1.23	(1)	%	22	%	$	4.26	$	3.66	16	%
N/M – Not meaningful.


THE BANK OF NEW YORK MELLON CORPORATION
CONDENSED CONSOLIDATED BALANCE SHEET

	2024						2023
(dollars in millions)	Sept. 30		June 30		March 31		Dec. 31		Sept. 30
Assets
Cash and due from banks	$	6,234	$	5,311	$	5,305	$	4,922	$	4,904
Interest-bearing deposits with the Federal Reserve and other central banks	102,231		116,139		119,197		111,550		107,419
Interest-bearing deposits with banks	9,354		11,488		10,636		12,139		12,999
Federal funds sold and securities purchased under resale agreements	36,164		29,723		29,661		28,900		26,299
Securities	141,876		136,850		138,909		126,395		128,225
Trading assets	12,459		9,609		10,078		10,058		10,699
Loans	69,451		70,642		73,615		66,879		66,290
Allowance for loan losses	(296)		(286)		(322)		(303)		(211)
Net loans	69,155		70,356		73,293		66,576		66,079
Premises and equipment	3,380		3,267		3,136		3,163		3,234
Accrued interest receivable	1,319		1,253		1,343		1,150		1,141
Goodwill	16,338		16,217		16,228		16,261		16,159
Intangible assets	2,824		2,826		2,839		2,854		2,859
Other assets	26,127		25,500		24,103		25,909		25,035
Total assets	$	427,461	$	428,539	$	434,728	$	409,877	$	405,052
Liabilities
Deposits	$	296,438	$	304,311	$	309,020	$	283,669	$	277,467
Federal funds purchased and securities sold under repurchase agreements	14,574		15,701		15,112		14,507		14,771
Trading liabilities	4,553		3,372		3,100		6,226		7,358
Payables to customers and broker-dealers	19,741		17,569		19,392		18,395		17,441
Commercial paper	301		301		—		—		—
Other borrowed funds	401		280		306		479		728
Accrued taxes and other expenses	5,138		4,729		4,395		5,411		5,225
Other liabilities	10,726		10,208		10,245		9,028		11,834
Long-term debt	33,199		30,947		32,396		31,257		29,205
Total liabilities	385,071		387,418		393,966		368,972		364,029
Temporary equity
Redeemable noncontrolling interests	107		92		82		85		109
Permanent equity
Preferred stock	4,343		4,343		4,343		4,343		4,838
Common stock	14		14		14		14		14
Additional paid-in capital	29,230		29,139		29,055		28,908		28,793
Retained earnings	41,756		40,999		40,178		39,549		39,714
Accumulated other comprehensive loss, net of tax	(3,867)		(4,900)		(4,876)		(4,893)		(5,805)
Less: Treasury stock, at cost	(29,484)		(28,752)		(28,145)		(27,151)		(26,696)
Total The Bank of New York Mellon Corporation shareholders’ equity	41,992		40,843		40,569		40,770		40,858
Nonredeemable noncontrolling interests of consolidated investment management funds	291		186		111		50		56
Total permanent equity	42,283		41,029		40,680		40,820		40,914
Total liabilities, temporary equity and permanent equity	$	427,461	$	428,539	$	434,728	$	409,877	$	405,052


THE BANK OF NEW YORK MELLON CORPORATION
FEE AND OTHER REVENUE

											3Q24 vs.								YTD24 vs.
(dollars in millions)	3Q24		2Q24		1Q24		4Q23		3Q23		2Q24		3Q23		YTD24		YTD23		YTD23
Investment services fees	$	2,344	$	2,359	$	2,278	$	2,242	$	2,230	(1)	%	5	%	$	6,981	$	6,601	6	%
Investment management and performance fees:
Investment management fees (a)	781		753		766		724		747		4		5		2,300		2,253		2
Performance fees	13		8		10		19		30		N/M		N/M		31		62		N/M
Total investment management and performance fees (b)	794		761		776		743		777		4		2		2,331		2,315		1
Foreign exchange revenue	175		184		152		143		154		(5)		14		511		488		5
Financing-related fees	53		53		57		45		45		—		18		163		147		11
Distribution and servicing fees	38		41		42		41		39		(7)		(3)		121		107		13
Total fee revenue	3,404		3,398		3,305		3,214		3,245		—		5		10,107		9,658		5
Investment and other revenue:
Income (loss) from consolidated investment management funds	28		8		15		26		(11)		N/M		N/M		51		4		N/M
Seed capital gains (losses) (c)	3		—		14		18		(4)		N/M		N/M		17		11		N/M
Other trading revenue	79		77		69		47		86		N/M		N/M		225		184		N/M
Renewable energy investment gains	6		8		6		2		1		N/M		N/M		20		26		N/M
Corporate/bank-owned life insurance	36		26		28		39		29		N/M		N/M		90		79		N/M
Other investments gains (losses) (d)	12		30		17		55		(9)		N/M		N/M		59		(8)		N/M
Disposal (losses) gains	—		—		—		(6)		2		N/M		N/M		—		—		N/M
Expense reimbursements from joint venture	32		30		27		28		29		N/M		N/M		89		89		N/M
Other income (loss)	17		7		7		(118)		55		N/M		N/M		31		72		N/M
Net securities (losses)	(17)		(17)		(1)		(48)		(19)		N/M		N/M		(35)		(20)		N/M
Total investment and other revenue	196		169		182		43		159		N/M		N/M		547		437		N/M
Total fee and other revenue	$	3,600	$	3,567	$	3,487	$	3,257	$	3,404	1	%	6	%	$	10,654	$	10,095	6	%
(a) Excludes seed capital gains (losses) related to consolidated investment management funds.
(b) On a constant currency basis, investment management and performance fees increased 2% (Non-GAAP) compared with 3Q23. See “Explanation of GAAP and Non-GAAP Financial Measures” beginning on page 18 for the reconciliation of this Non-GAAP measure.
(c) Includes gains (losses) on investments in BNY funds which hedge deferred incentive awards.
(d) Includes strategic equity, private equity and other investments.
N/M – Not meaningful.


THE BANK OF NEW YORK MELLON CORPORATION
AVERAGE BALANCES AND INTEREST RATES
	3Q24					2Q24					1Q24					4Q23					3Q23
	Average balance		Average rate			Average balance		Average rate			Average balance		Average rate			Average balance		Average rate			Average balance		Average rate
(dollars in millions; average rates are annualized)
Assets
Interest-earning assets:
Interest-bearing deposits with the Federal Reserve and other central banks	$	100,611	4.62	%		$	102,257	4.65	%		$	102,795	4.69	%		$	107,291	4.72	%		$	98,767	4.57	%
Interest-bearing deposits with banks	10,559		4.15			11,210		3.91			11,724		4.16			12,110		4.26			12,287		4.04
Federal funds sold and securities purchased under resale agreements	31,183		36.65		(a)	29,013		36.48		(a)	27,019		36.22		(a)	25,753		35.55		(a)	26,915		30.47		(a)
Loans	69,205		6.57			68,283		6.58			65,844		6.48			65,677		6.43			63,962		6.39
Securities:
U.S. government obligations	28,490		3.71			28,347		3.82			27,242		3.70			28,641		3.40			32,224		3.08
U.S. government agency obligations	62,572		3.26			62,549		3.29			63,135		3.22			59,067		2.95			59,481		2.87
Other securities	48,647		4.00			46,828		4.04			43,528		4.01			39,415		4.03			39,874		3.93
Total investment securities	139,709		3.61			137,724		3.66			133,905		3.57			127,123		3.39			131,579		3.24
Trading securities (b)	5,667		5.33			5,146		5.89			4,846		5.75			6,220		5.59			5,534		5.49
Total securities (b)	145,376		3.68			142,870		3.74			138,751		3.65			133,343		3.49			137,113		3.33
Total interest-earning assets (b)	$	356,934	7.40	%		$	353,633	7.24	%		$	346,133	7.06	%		$	344,174	6.86	%		$	339,044	6.45	%
Noninterest-earning assets	59,463					58,866					57,852					57,431					58,247
Total assets	$	416,397				$	412,499				$	403,985				$	401,605				$	397,291

Liabilities and equity
Interest-bearing liabilities:
Interest-bearing deposits	$	236,724	3.82	%		$	235,878	3.85	%		$	228,897	3.84	%		$	220,408	3.79	%		$	209,641	3.62	%
Federal funds purchased and securities sold under repurchase agreements	16,584		62.85		(a)	17,711		55.26		(a)	16,133		55.91		(a)	16,065		52.41		(a)	21,512		36.07		(a)
Trading liabilities	1,844		4.83			1,689		5.43			1,649		5.11			2,857		4.83			3,959		4.80
Other borrowed funds	418		3.15			351		8.61			502		3.47			465		5.56			540		4.47
Commercial paper	1,474		5.50			954		5.54			8		5.42			5		5.40			7		4.13
Payables to customers and broker-dealers	12,737		5.29			12,066		5.35			12,420		4.74			12,586		4.67			13,515		4.30
Long-term debt	33,154		5.93			31,506		5.92			31,087		5.82			30,702		5.70			31,161		5.52
Total interest-bearing liabilities	$	302,935	7.36	%		$	300,155	7.18	%		$	290,696	6.99	%		$	283,088	6.81	%		$	280,335	6.37	%
Total noninterest-bearing deposits	47,962					48,965					49,949					52,667					52,467
Other noninterest-bearing liabilities	24,122					22,839					23,005					24,962					23,699
Total The Bank of New York Mellon Corporation shareholders’ equity	41,115					40,387					40,248					40,823					40,711
Noncontrolling interests	263					153					87					65					79
Total liabilities and equity	$	416,397				$	412,499				$	403,985				$	401,605				$	397,291
Net interest margin			1.16	%				1.15	%				1.19	%				1.26	%				1.18	%
Net interest margin (FTE) – Non-GAAP (c)			1.16	%				1.15	%				1.19	%				1.26	%				1.18	%
(a) Includes the average impact of offsetting under enforceable netting agreements of approximately $179 billion for 3Q24, $163 billion for 2Q24, $151 billion for 1Q24, $141 billion for 4Q23 and $126 billion for 3Q23. 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 5.43% for 3Q24, 5.51% for 2Q24, 5.49% for 1Q24, 5.48% for 4Q23 and 5.36% for 3Q23. 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 5.32% for 3Q24, 5.41% for 2Q24, 5.38% for 1Q24, 5.35% for 4Q23 and 5.26% for 3Q23. 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 “Explanation of GAAP and Non-GAAP Financial Measures” beginning on page 18 for the reconciliation of this Non-GAAP measure.


THE BANK OF NEW YORK MELLON CORPORATION
CAPITAL AND LIQUIDITY

	2024									2023
(dollars in millions)	Sept. 30			June 30			March 31			Dec. 31			Sept. 30
Consolidated regulatory capital ratios (a)
Standardized Approach:
CET1 capital	$	19,687		$	18,671		$	18,383		$	18,534		$	18,156
Tier 1 capital	23,972			23,006			22,723			22,863			22,985
Total capital	25,865			24,538			24,310			24,414			24,552
Risk-weighted assets	165,457			164,094			169,909			156,178			153,167

CET1 ratio	11.9		%	11.4		%	10.8		%	11.9		%	11.9		%
Tier 1 capital ratio	14.5			14.0			13.4			14.6			15.0
Total capital ratio	15.6			15.0			14.3			15.6			16.0

Advanced Approaches:
CET1 capital	$	19,687		$	18,671		$	18,383		$	18,534		$	18,156
Tier 1 capital	23,972			23,006			22,723			22,863			22,985
Total capital	25,535			24,201			23,940			24,085			24,305
Risk-weighted assets	163,602			161,778			165,663			161,528			160,262

CET1 ratio	12.0		%	11.5		%	11.1		%	11.5		%	11.3		%
Tier 1 capital ratio	14.7			14.2			13.7			14.2			14.3
Total capital ratio	15.6			15.0			14.5			14.9			15.2

Tier 1 leverage ratio (a):
Average assets for Tier 1 leverage ratio	$	398,381		$	394,672		$	386,148		$	383,705		$	379,429
Tier 1 leverage ratio	6.0		%	5.8		%	5.9		%	6.0		%	6.1		%

SLR (a):
Leverage exposure	$	344,831		$	336,971		$	325,801		$	313,555		$	318,664
SLR	7.0		%	6.8		%	7.0		%	7.3		%	7.2		%

Average liquidity coverage ratio (a)	116		%	115		%	117		%	117		%	121		%
Average net stable funding ratio (a)	132		%	132		%	136		%	135		%	136		%
(a) Regulatory capital and liquidity ratios for Sept. 30, 2024 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 Sept. 30, 2024, was the Standardized Approach for the CET1 and Tier 1 capital ratios and the Advanced Approaches for the Total capital ratio, for June 30, 2024 and March 31, 2024 was the Standardized Approach, and for Dec. 31, 2023 and Sept. 30, 2023, was the Advanced Approaches.


THE BANK OF NEW YORK MELLON CORPORATION
SECURITIES SERVICES BUSINESS SEGMENT

																3Q24 vs.										YTD24 vs.
(dollars in millions)	3Q24			2Q24			1Q24			4Q23			3Q23			2Q24		3Q23		YTD24			YTD23			YTD23
Revenue:
Investment services fees:
Asset Servicing	$	1,021		$	1,018		$	1,013		$	975		$	976		—	%	5	%	$	3,052		$	2,897		5	%
Issuer Services	285			322			261			285			281			(11)		1		868			836			4
Total investment services fees	1,306			1,340			1,274			1,260			1,257			(3)		4		3,920			3,733			5
Foreign exchange revenue	137			144			124			118			107			(5)		28		405			370			9
Other fees (a)	57			56			59			54			52			2		10		172			161			7
Total fee revenue	1,500			1,540			1,457			1,432			1,416			(3)		6		4,497			4,264			5
Investment and other revenue	105			104			99			112			65			N/M		N/M		308			221			N/M
Total fee and other revenue	1,605			1,644			1,556			1,544			1,481			(2)		8		4,805			4,485			7
Net interest income	609			595			583			635			600			2		2		1,787			1,934			(8)
Total revenue	2,214			2,239			2,139			2,179			2,081			(1)		6		6,592			6,419			3
Provision for credit losses	15			(3)			11			64			19			N/M		N/M		23			35			N/M
Noninterest expense (ex. amortization of intangible assets)	1,550			1,547			1,530			1,645			1,590			—		(3)		4,627			4,682			(1)
Amortization of intangible assets	7			7			7			8			8			—		(13)		21			23			(9)
Total noninterest expense	1,557			1,554			1,537			1,653			1,598			—		(3)		4,648			4,705			(1)
Income before income taxes	$	642		$	688		$	591		$	462		$	464		(7)	%	38	%	$	1,921		$	1,679		14	%


Total revenue by line of business:
Asset Servicing	$	1,720		$	1,687		$	1,668		$	1,675		$	1,585		2	%	9	%	$	5,075		$	4,937		3	%
Issuer Services	494			552			471			504			496			(11)		—		1,517			1,482			2
Total revenue by line of business	$	2,214		$	2,239		$	2,139		$	2,179		$	2,081		(1)	%	6	%	$	6,592		$	6,419		3	%

Financial ratios:
Pre-tax operating margin	29		%	31		%	28		%	21		%	22		%					29		%	26		%

Memo: Securities lending revenue (b)	$	47		$	46		$	46		$	48		$	46		2	%	2	%	$	139		$	141		(1)	%
(a) Other fees primarily include financing-related fees.
(b) Included in investment services fees reported in the Asset Servicing line of business.
N/M – Not meaningful.


THE BANK OF NEW YORK MELLON CORPORATION
SECURITIES SERVICES BUSINESS SEGMENT

											3Q24 vs.								YTD24 vs.
(dollars in millions, unless otherwise noted)	3Q24		2Q24		1Q24		4Q23		3Q23		2Q24		3Q23		YTD24		YTD23		YTD23
Selected balance sheet data:
Average loans	$	11,077	$	11,103	$	11,204	$	11,366	$	11,236	—	%	(1)	%	$	11,128	$	11,154	—	%
Average assets (a)	$	199,057	$	196,015	$	191,544	$	200,040	$	190,964	2	%	4	%	$	195,552	$	196,556	(1)	%
Average deposits	$	180,500	$	178,495	$	174,687	$	171,086	$	162,509	1	%	11	%	$	177,904	$	167,510	6	%

Selected metrics:
AUC/A at period end (in trillions) (b)(c)	$	37.5	$	35.7	$	35.4	$	34.2	$	32.3	5	%	16	%
Market value of securities on loan at period end (in billions) (d)	$	484	$	481	$	486	$	450	$	406	1	%	19	%

Issuer Services
Total debt serviced at period end (in trillions)	$	14.3	$	14.1	$	14.0	$	14.0	$	13.8	1	%	4	%
Number of sponsored Depositary Receipts programs at period end	507		516		527		543		559		(2)	%	(9)	%
(a) In business segments where average deposits are greater than average loans, average assets include an allocation of investment securities equal to the difference.
(b) Sept. 30, 2024 information is preliminary.
(c) Consists of AUC/A primarily from the Asset Servicing line of business and, to a lesser extent, the Issuer Services line of business. Includes the AUC/A of CIBC Mellon of $1.9 trillion at Sept. 30, 2024, $1.7 trillion at June 30, 2024, March 31, 2024 and Dec. 31, 2023 and $1.5 trillion at Sept. 30, 2023.
(d) Represents the total amount of securities on loan in our agency securities lending program. Excludes securities for which BNY acts as agent on behalf of CIBC Mellon clients, which totaled $67 billion at Sept. 30, 2024, $66 billion at June 30, 2024, $64 billion at March 31,2024 and $63 billion at Dec. 31, 2023 and Sept. 30, 2023.


THE BANK OF NEW YORK MELLON CORPORATION
MARKET AND WEALTH SERVICES BUSINESS SEGMENT

																3Q24 vs.										YTD24 vs.
(dollars in millions)	3Q24			2Q24			1Q24			4Q23			3Q23			2Q24		3Q23		YTD24			YTD23			YTD23
Revenue:
Investment services fees:
Pershing	$	475		$	474		$	482		$	472		$	478		—	%	(1)	%	$	1,431		$	1,413		1	%
Treasury Services	200			202			184			179			180			(1)		11		586			538			9
Clearance and Collateral Management	354			338			329			322			305			5		16		1,021			890			15
Total investment services fees	1,029			1,014			995			973			963			1		7		3,038			2,841			7
Foreign exchange revenue	23			23			24			21			21			—		10		70			60			17
Other fees (a)	58			58			58			50			49			—		18		174			152			14
Total fee revenue	1,110			1,095			1,077			1,044			1,033			1		7		3,282			3,053			8
Investment and other revenue	20			23			17			16			16			N/M		N/M		60			47			N/M
Total fee and other revenue	1,130			1,118			1,094			1,060			1,049			1		8		3,342			3,100			8
Net interest income	415			417			423			436			401			—		3		1,255			1,274			(1)
Total revenue	1,545			1,535			1,517			1,496			1,450			1		7		4,597			4,374			5
Provision for credit losses	7			(2)			5			28			6			N/M		N/M		10			13			N/M
Noninterest expense (ex. amortization of intangible assets)	833			832			833			836			790			—		5		2,498			2,363			6
Amortization of intangible assets	1			1			1			1			2			—		(50)		3			5			(40)
Total noninterest expense	834			833			834			837			792			—		5		2,501			2,368			6
Income before income taxes	$	704		$	704		$	678		$	631		$	652		—	%	8	%	$	2,086		$	1,993		5	%


Total revenue by line of business:
Pershing	$	649		$	663		$	670		$	669		$	657		(2)	%	(1)	%	$	1,982		$	1,947		2	%
Treasury Services	424			426			416			408			397			—		7		1,266			1,229			3
Clearance and Collateral Management	472			446			431			419			396			6		19		1,349			1,198			13
Total revenue by line of business	$	1,545		$	1,535		$	1,517		$	1,496		$	1,450		1	%	7	%	$	4,597		$	4,374		5	%


Financial ratios:
Pre-tax operating margin	46		%	46		%	45		%	42		%	45		%					45		%	46		%
(a) Other fees primarily include financing-related fees.
N/M – Not meaningful.


THE BANK OF NEW YORK MELLON CORPORATION
MARKET AND WEALTH SERVICES BUSINESS SEGMENT

											3Q24 vs.								YTD24 vs.
(dollars in millions, unless otherwise noted)	3Q24		2Q24		1Q24		4Q23		3Q23		2Q24		3Q23		YTD24		YTD23		YTD23
Selected balance sheet data:
Average loans	$	42,730	$	41,893	$	39,271	$	39,200	$	37,496	2	%	14	%	$	41,303	$	36,930	12	%
Average assets (a)	$	122,526	$	124,790	$	123,552	$	132,357	$	129,665	(2)	%	(6)	%	$	123,619	$	131,055	(6)	%
Average deposits	$	88,856	$	91,371	$	89,539	$	87,695	$	84,000	(3)	%	6	%	$	89,918	$	85,141	6	%

Selected metrics:
AUC/A at period end (in trillions) (b)(c)	$	14.3	$	13.4	$	13.1	$	13.3	$	13.1	7	%	9	%

Pershing
AUC/A at period end (in trillions) (b)	$	2.7	$	2.6	$	2.6	$	2.5	$	2.4	4	%	13	%
Net new assets (U.S. platform) (in billions) (d)	$	(22)	$	(23)	$	(2)	$	(4)	$	23	N/M		N/M
Daily average revenue trades (“DARTs”) (U.S. platform) (in thousands)	251		280		290		229		223		(10)	%	13	%
Average active clearing accounts (in thousands)	8,085		8,057		7,991		8,012		7,979		—	%	1	%

Treasury Services
Average daily U.S. dollar payment volumes	242,243		241,253		237,124		243,005		233,620		—	%	4	%

Clearance and Collateral Management
Average tri-party collateral management balances (in billions)	$	5,511	$	5,298	$	5,157	$	5,248	$	5,706	4	%	(3)	%
(a) In business segments where average deposits are greater than average loans, average assets include an allocation of investment securities equal to the difference.
(b) Sept. 30, 2024 information is preliminary.
(c) Consists of AUC/A from the Clearance and Collateral Management and Pershing lines of business.
(d) Net new assets represent net flows of assets (e.g., net cash deposits and net securities transfers, including dividends and interest) in customer accounts in Pershing LLC, a U.S. broker-dealer.
N/M – Not meaningful.


THE BANK OF NEW YORK MELLON CORPORATION
INVESTMENT AND WEALTH MANAGEMENT BUSINESS SEGMENT

																3Q24 vs.										YTD24 vs.
(dollars in millions)	3Q24			2Q24			1Q24			4Q23			3Q23			2Q24		3Q23		YTD24			YTD23			YTD23
Revenue:
Investment management fees	$	782		$	754		$	768		$	725		$	748		4	%	5	%	$	2,304		$	2,256		2	%
Performance fees	13			8			10			19			30			N/M		N/M		31			62			N/M
Investment management and performance fees (a)	795			762			778			744			778			4		2		2,335			2,318			1
Distribution and servicing fees	68			69			70			66			62			(1)		10		207			175			18
Other fees (b)	(68)			(64)			(60)			(55)			(50)			N/M		N/M		(192)			(159)			N/M
Total fee revenue	795			767			788			755			790			4		1		2,350			2,334			1
Investment and other revenue (c)	9			11			17			(121)			1			N/M		N/M		37			19			N/M
Total fee and other revenue (c)	804			778			805			634			791			3		2		2,387			2,353			1
Net interest income	45			43			41			45			39			5		15		129			123			5
Total revenue	849			821			846			679			830			3		2		2,516			2,476			2
Provision for credit losses	1			4			(1)			(2)			(9)			N/M		N/M		4			(2)			N/M
Noninterest expense (ex. amortization of intangible assets)	668			663			736			680			670			1		—		2,067			2,076			—

Amortization of intangible assets	4			5			4			5			5			(20)		(20)		13			15			(13)
Total noninterest expense	672			668			740			685			675			1		—		2,080			2,091			(1)
Income (loss) before income taxes	$	176		$	149		$	107		$	(4)		$	164		18	%	7	%	$	432		$	387		12	%


Total revenue by line of business:
Investment Management	$	569		$	549		$	576		$	415		$	565		4	%	1	%	$	1,694		$	1,682		1	%
Wealth Management	280			272			270			264			265			3		6		822			794			4
Total revenue by line of business	$	849		$	821		$	846		$	679		$	830		3	%	2	%	$	2,516		$	2,476		2	%

Financial ratios:
Pre-tax operating margin	21		%	18		%	13		%	(1)		%	20		%					17		%	16		%
Adjusted pre-tax operating margin – Non-GAAP (d)	23		%	20		%	14		%	(1)		%	22		%					19		%	18		%

Selected balance sheet data:
Average loans	$	13,648		$	13,520		$	13,553		$	13,405		$	13,519		1	%	1	%	$	13,574		$	13,823		(2)	%
Average assets (e)	$	26,525		$	26,031		$	26,272		$	26,341		$	26,654		2	%	—	%	$	26,277		$	27,106		(3)	%
Average deposits	$	10,032		$	11,005		$	11,364		$	12,039		$	13,578		(9)	%	(26)	%	$	10,798		$	15,035		(28)	%
(a) On a constant currency basis, investment management and performance fees increased 2% (Non-GAAP) compared with 3Q23. See “Explanation of GAAP and Non-GAAP Financial Measures” beginning on page 18 for the reconciliation of this Non-GAAP measure.
(b) Other fees primarily include investment services fees.
(c) Investment and other revenue and total fee and other revenue are net of income (loss) attributable to noncontrolling interests related to consolidated investment management funds.
(d) Net of distribution and servicing expense. See “Explanation of GAAP and Non-GAAP Financial Measures” beginning on page 18 for the reconciliation of this Non-GAAP measure.
(e) In business segments where average deposits are greater than average loans, average assets include an allocation of investment securities equal to the difference.
N/M – Not meaningful.


THE BANK OF NEW YORK MELLON CORPORATION
AUM BY PRODUCT TYPE, CHANGES IN AUM AND WEALTH MANAGEMENT CLIENT ASSETS

												3Q24 vs.									YTD24 vs.
(dollars in billions)	3Q24		2Q24		1Q24			4Q23		3Q23		2Q24		3Q23		YTD24			YTD23		YTD23
AUM by product type (a)(b):
Equity	$	173	$	167	$	168		$	145	$	133	4	%	30	%
Fixed income	235		221		219			205		190		6		24
Index	498		485		474			459		425		3		17
Liability-driven investments	637		598		573			605		534		7		19
Multi-asset and alternative investments	175		173		174			170		156		1		12
Cash	426		401		407			390		383		6		11
Total AUM	$	2,144	$	2,045	$	2,015		$	1,974	$	1,821	5	%	18	%

Changes in AUM (a)(b):
Beginning balance of AUM	$	2,045	$	2,015	$	1,974		$	1,821	$	1,906					$	1,974		$	1,836
Net inflows (outflows):
Long-term strategies:
Equity	(2)		(4)		(4)			(2)		(3)						(10)			(10)
Fixed income	4		4		12			3		(7)						20			(7)
Liability-driven investments	(4)		4		13			4		1						13			8
Multi-asset and alternative investments	(6)		(2)		(5)			(1)		(4)						(13)			(8)
Total long-term active strategies (outflows) inflows	(8)		2		16			4		(13)						10			(17)
Index	(16)		(4)		(15)			(10)		(2)						(35)			(2)
Total long-term strategies (outflows) inflows	(24)		(2)		1			(6)		(15)						(25)			(19)
Short-term strategies:
Cash	24		(7)		16			7		7						33			(2)
Total net (outflows) inflows	—		(9)		17			1		(8)						8			(21)
Net market impact	58		40		16			122		(50)						114			(1)
Net currency impact	41		(1)		(10)			30		(27)						30			7
Other	—		—		18		(c)	—		—						18		(c)	—
Ending balance of AUM	$	2,144	$	2,045	$	2,015		$	1,974	$	1,821	5	%	18	%	$	2,144		$	1,821	18	%

Wealth Management client assets (a)(d)	$	333	$	308	$	309		$	312	$	292	8	%	14	%
(a) Sept. 30, 2024 information is preliminary.
(b) Represents assets managed in the Investment and Wealth Management business segment.
(c) Reflects the realignment of similar products and services within our lines of business. Refer to Form 8-K dated March 26, 2024 for further information.
(d) Includes AUM and AUC/A in the Wealth Management line of business.


THE BANK OF NEW YORK MELLON CORPORATION
OTHER SEGMENT

(dollars in millions)	3Q24		2Q24		1Q24		4Q23		3Q23		YTD24		YTD23
Revenue:
Fee revenue	$	(1)	$	(4)	$	(17)	$	(17)	$	6	$	(22)	$	7
Investment and other revenue	55		29		47		38		74		131		146
Total fee and other revenue	54		25		30		21		80		109		153
Net interest (expense)	(21)		(25)		(7)		(15)		(24)		(53)		(87)
Total revenue	33		—		23		6		56		56		66
Provision for credit losses	—		1		12		(6)		(13)		13		(11)
Noninterest expense	37		15		65		820		24		117		136
(Loss) income before income taxes	$	(4)	$	(16)	$	(54)	$	(808)	$	45	$	(74)	$	(59)


Selected balance sheet data:
Average loans and leases	$	1,750	$	1,767	$	1,816	$	1,706	$	1,711	$	1,777	$	1,656
Average assets	$	68,289	$	65,663	$	62,617	$	42,867	$	50,008	$	65,532	$	53,756


THE BANK OF NEW YORK MELLON CORPORATION
SECURITIES PORTFOLIO

(dollars in millions)	June 30, 2024			3Q24 change in unrealized gain (loss)		Sept. 30, 2024					Fair value as a % of amortized cost (a)		Unrealized gain (loss)			% Floating rate (b)		Ratings (c)
						Amortized cost (a)		Fair value										AAA/ AA-		A+/ A-		BBB+/ BBB-		BB+ and lower		Not rated
	Fair value
Agency RMBS	$	40,898		$	1,310	$	45,706	$	42,779		94	%	$	(2,927)		25	%	100	%	—	%	—	%	—	%	—	%
U.S. Treasury	28,633			340		30,095		29,653			99		(442)			61		100		—		—		—		—
Non-U.S. government (d)	26,866			283		29,619		29,337			99		(282)			37		94		3		3		—		—
Agency commercial MBS	10,983			187		11,191		10,810			97		(381)			41		100		—		—		—		—
CLOs	7,354			(2)		7,808		7,822			100		14			100		100		—		—		—		—
Foreign covered bonds	7,334			92		7,745		7,687			99		(58)			47		100		—		—		—		—
U.S. government agencies	6,406			133		6,528		6,248			96		(280)			29		100		—		—		—		—
Non-agency commercial MBS	2,893			54		2,918		2,769			95		(149)			48		100		—		—		—		—
Non-agency RMBS	1,670			15		1,735		1,598			92		(137)			42		98		2		—		—		—
Other asset-backed securities	823			30		686		647			94		(39)			16		100		—		—		—		—
Other debt securities	11			(1)		12		10			89		(2)			—		—		—		—		—		100
Total securities	$	133,871	(e)	$	2,441	$	144,043	$	139,360	(e)(f)	97	%	$	(4,683)	(e)(g)	43	%	98	%	1	%	1	%	—	%	—	%
(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 supranational securities.
(e) Includes net unrealized gains on derivatives hedging securities available-for-sale (including terminated hedges) of $2,163 million at June 30, 2024 and $1,141 million at Sept. 30, 2024.
(f) The fair value of available-for-sale securities totaled $98,070 million at Sept. 30, 2024, net of hedges, or 70% of the fair value of the securities portfolio, net of hedges. The fair value of the held-to-maturity securities totaled $41,290 million at Sept. 30, 2024, or 30% of the fair value of the securities portfolio, net of hedges.
(g) At Sept. 30, 2024, includes pre-tax net unrealized losses of $1,026 million related to available-for-sale securities, net of hedges, and $3,657 million related to held-to-maturity securities. The after-tax unrealized losses, net of hedges, related to available-for-sale securities was $774 million and the after-tax equivalent related to held-to-maturity securities was $2,789 million.
Note: At Sept. 30, 2024, the amortizable purchase premium (net of discount) relating to securities was $253 million, and the accumulated basis adjustments on discontinued hedges of securities, which will also be accreted to net interest income over the remaining life of the security, was $727 million. Including the basis adjustments on discontinued hedges, the net accretion was $44 million in 3Q24.


THE BANK OF NEW YORK MELLON CORPORATION
ALLOWANCE FOR CREDIT LOSSES AND NONPERFORMING ASSETS

	2024									2023
(dollars in millions)	Sept. 30			June 30			March 31			Dec. 31			Sept. 30
Allowance for credit losses – beginning of period:
Allowance for loan losses	$	286		$	322		$	303		$	211		$	191
Allowance for lending-related commitments	73			81			87			85			91
Allowance for other financial instruments (a)	37			37			24			29			41
Allowance for credit losses – beginning of period	$	396		$	440		$	414		$	325		$	323

Net (charge-offs) recoveries:
Charge-offs	(18)			(44)			(1)			—			(1)
Recoveries	—			—			—			5			—
Total net (charge-offs) recoveries	(18)			(44)			(1)			5			(1)
Provision for credit losses (b)	23			—			27			84			3
Allowance for credit losses – end of period	$	401		$	396		$	440		$	414		$	325

Allowance for credit losses – end of period:
Allowance for loan losses	$	296		$	286		$	322		$	303		$	211
Allowance for lending-related commitments	75			73			81			87			85
Allowance for other financial instruments (a)	30			37			37			24			29
Allowance for credit losses – end of period	$	401		$	396		$	440		$	414		$	325

Allowance for loan losses as a percentage of total loans	0.43		%	0.40		%	0.44		%	0.45		%	0.32		%

Nonperforming assets	$	211		$	227		$	278		$	237		$	48
(a) Includes allowance for credit losses on federal funds sold and securities purchased under resale agreements, available-for-sale securities, held-to-maturity securities, accounts receivable, cash and due from banks and interest-bearing deposits with banks.
(b) Includes all instruments within the scope of ASU 2016-13, Financial Instruments – Credit Losses: Measurement of Credit Losses on Financial Instruments.


THE BANK OF NEW YORK MELLON CORPORATION
EXPLANATION OF GAAP AND NON-GAAP FINANCIAL MEASURES

BNY 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 income, 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 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 segment, 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 segment 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:


Return on common and tangible common equity ratios are annualized.



Return on common equity and tangible common equity reconciliation
(dollars in millions)	3Q24			2Q24			1Q24			4Q23			3Q23			YTD24			YTD23
Net income applicable to common shareholders of The Bank of New York Mellon Corporation – GAAP	$	1,110		$	1,143		$	953		$	162		$	958		$	3,206		$	2,905
Add: Amortization of intangible assets	12			13			12			14			15			37			43
Less: Tax impact of amortization of intangible assets	3			3			3			4			3			9			10
Adjusted net income applicable to common shareholders of The Bank of New York Mellon Corporation, excluding amortization of intangible assets – Non-GAAP	$	1,119		$	1,153		$	962		$	172		$	970		$	3,234		$	2,938

Average common shareholders’ equity	$	36,772		$	36,044		$	35,905		$	36,050		$	35,873		$	36,242		$	35,672
Less: Average goodwill	16,281			16,229			16,238			16,199			16,237			16,250			16,206
Average intangible assets	2,827			2,834			2,848			2,858			2,875			2,836			2,887
Add: Deferred tax liability – tax deductible goodwill	1,220			1,213			1,209			1,205			1,197			1,220			1,197
Deferred tax liability – intangible assets	656			655			655			657			657			656			657
Average tangible common shareholders’ equity – Non-GAAP	$	19,540		$	18,849		$	18,683		$	18,855		$	18,615		$	19,032		$	18,433

Return on common equity – GAAP	12.0		%	12.7		%	10.7		%	1.8		%	10.6		%	11.8		%	10.9		%
Return on tangible common equity – Non-GAAP	22.8		%	24.6		%	20.7		%	3.6		%	20.6		%	22.7		%	21.3		%


THE BANK OF NEW YORK MELLON CORPORATION
EXPLANATION OF GAAP AND NON-GAAP FINANCIAL MEASURES
Book value and tangible book value per common share reconciliation	2024									2023
(dollars in millions, except common shares and unless otherwise noted)	Sept. 30			June 30			March 31			Dec. 31			Sept. 30
BNY shareholders’ equity at period end – GAAP	$	41,992		$	40,843		$	40,569		$	40,770		$	40,858
Less: Preferred stock	4,343			4,343			4,343			4,343			4,838
BNY common shareholders’ equity at period end – GAAP	37,649			36,500			36,226			36,427			36,020
Less: Goodwill	16,338			16,217			16,228			16,261			16,159
Intangible assets	2,824			2,826			2,839			2,854			2,859
Add: Deferred tax liability – tax deductible goodwill	1,220			1,213			1,209			1,205			1,197
Deferred tax liability – intangible assets	656			655			655			657			657
BNY tangible common shareholders’ equity at period end – Non-GAAP	$	20,363		$	19,325		$	19,023		$	19,174		$	18,856

Period-end common shares outstanding (in thousands)	727,078			737,957			747,816			759,344			769,073

Book value per common share – GAAP	$	51.78		$	49.46		$	48.44		$	47.97		$	46.84
Tangible book value per common share – Non-GAAP	$	28.01		$	26.19		$	25.44		$	25.25		$	24.52



Net interest margin reconciliation
(dollars in millions)	3Q24			2Q24			1Q24			4Q23			3Q23
Net interest income – GAAP	$	1,048		$	1,030		$	1,040		$	1,101		$	1,016
Add: Tax equivalent adjustment	—			1			—			1			—
Net interest income (FTE) – Non-GAAP	$	1,048		$	1,031		$	1,040		$	1,102		$	1,016

Average interest-earning assets	$	356,934		$	353,633		$	346,133		$	344,174		$	339,044

Net interest margin – GAAP (a)	1.16		%	1.15		%	1.19		%	1.26		%	1.18		%
Net interest margin (FTE) – Non-GAAP (a)	1.16		%	1.15		%	1.19		%	1.26		%	1.18		%
(a) Net interest margin is annualized.


THE BANK OF NEW YORK MELLON CORPORATION
EXPLANATION OF GAAP AND NON-GAAP FINANCIAL MEASURES
Pre-tax operating margin reconciliation - Investment and Wealth Management business segment
(dollars in millions)	3Q24			2Q24			1Q24			4Q23			3Q23			YTD24			YTD23
Income (loss) before income taxes – GAAP	$	176		$	149		$	107		$	(4)		$	164		$	432		$	387

Total revenue – GAAP	$	849		$	821		$	846		$	679		$	830		$	2,516		$	2,476
Less: Distribution and servicing expense	91			88			96			89			87			275			266
Adjusted total revenue, net of distribution and servicing expense – Non-GAAP	$	758		$	733		$	750		$	590		$	743		$	2,241		$	2,210

Pre-tax operating margin – GAAP (a)	21		%	18		%	13		%	(1)		%	20		%	17		%	16		%
Adjusted pre-tax operating margin, net of distribution and servicing expense – Non-GAAP (a)	23		%	20		%	14		%	(1)		%	22		%	19		%	18		%
(a) Income before income taxes divided by total revenue.



Constant currency reconciliations							3Q24 vs.
(dollars in millions)	3Q24			3Q23			3Q23
Consolidated:
Investment management and performance fees – GAAP	$	794		$	777		2		%
Impact of changes in foreign currency exchange rates	—			5
Adjusted investment management and performance fees – Non-GAAP	$	794		$	782		2		%


Investment and Wealth Management business segment:
Investment management and performance fees – GAAP	$	795		$	778		2		%
Impact of changes in foreign currency exchange rates	—			5
Adjusted investment management and performance fees – Non-GAAP	$	795		$	783		2		%

3Q 24 FINANCIAL October 11, 2024 HIGHLIGHTS

2 • Revenue Growth: Revenue of $4.6bn up 5% YoY – Investment services fees up 5% YoY – Investment management and performance fees up 2% YoY – Foreign exchange revenue up 14% YoY – Net interest income up 3% YoY • Expense Discipline: Expense of $3.1bn flat YoY; up 1%(b) excluding notable items • Balance Sheet Strength: – Average total deposits of $285bn up 9% YoY and flat QoQ – Tier 1 leverage ratio of 6.0% and CET1 ratio of 11.9% – LCR of 116% and NSFR of 132% • Profitability: – ROE of 12.0% and ROTCE(a) of 22.8% • Capital Returns: Returned $1,078mm to common shareholders, including $353mm of dividends and $725mm of share repurchases – 103% total payout ratio year-to-date 3Q24 Financial Highlights (a) Represents a non-GAAP measure. See page 13 in the Appendix for the corresponding reconciliation of the non-GAAP measure of ROTCE. (b) Represents a non-GAAP measure. See page 12 in the Appendix for the corresponding reconciliation of the non-GAAP measure of expense excluding notable items. Note: Above comparisons are 3Q24 vs. 3Q23, unless otherwise noted. +22% Revenue Growth: Pre-tax Margin: EPS Growth: 5% 33% ROTCE(a): 22.8% Tier 1 Leverage: 6.0% Expense Growth: 0%

3 3Q24 vs. $mm, except per share data or unless otherwise noted 3Q24 2Q24 3Q23 2Q24 3Q23 Income Statement Investment services fees $2,344 $2,359 $2,230 (1)% 5% Investment management and performance fees 794 761 777 4 2 Foreign exchange revenue 175 184 154 (5) 14 Other fee revenue 91 94 84 (3) 8 Total fee revenue $3,404 $3,398 $3,245 —% 5% Investment and other revenue 196 169 159 N/M N/M Net interest income 1,048 1,030 1,016 2 3 Total revenue $4,648 $4,597 $4,420 1% 5% Provision for credit losses 23 — 3 N/M N/M Noninterest expense 3,100 3,070 3,089 1 — Income before income taxes $1,525 $1,527 $1,328 —% 15% Net income applicable to common shareholders $1,110 $1,143 $958 (3)% 16% Avg. common shares and equivalents outstanding (mm) - diluted 742 752 782 (1)% (5)% EPS $1.50 $1.52 $1.23 (1)% 22% Key Performance Indicators Operating leverage(a) 13 bps 480 bps Pre-tax margin 33% 33% 30% ROE 12.0% 12.7% 10.6% ROTCE(b) 22.8% 24.6% 20.6% Non-GAAP measures, excluding notable items(c) Adjusted total revenue $4,648 $4,597 $4,418 1% 5% Adjusted noninterest expense 3,075 3,077 3,043 — 1 Adjusted EPS 1.52 1.51 1.27 1 20 Adjusted operating leverage 117 bps 416 bps Adjusted pre-tax margin 33% 33% 31% Adjusted ROTCE 23.2% 24.4% 21.4% 3Q24 Financial Results (a) Operating leverage is the rate of increase (decrease) in total revenue less the rate of increase (decrease) in total noninterest expense. (b) Represents a non-GAAP measure. See page 13 in the Appendix for the corresponding reconciliation of the non-GAAP measure of ROTCE. (c) Each of the below line items represents a non-GAAP measure. See pages 12 and 13 in the Appendix for the corresponding reconciliations of these non-GAAP measures excluding notable items. N/M – not meaningful.

4 3Q24 2Q24 3Q23 Consolidated regulatory capital ratios(a) Tier 1 capital ($mm) $23,972 $23,006 $22,985 Average assets for Tier 1 leverage ratio ($mm) 398,381 394,672 379,429 Tier 1 leverage ratio 6.0% 5.8% 6.1% Common Equity Tier 1 ("CET1") capital ($mm) $19,687 $18,671 $18,156 Risk-weighted assets ($mm) 165,457 164,094 160,262 CET1 ratio 11.9% 11.4% 11.3% Supplementary leverage ratio ("SLR") 7.0% 6.8% 7.2% Consolidated regulatory liquidity ratios(a) Liquidity coverage ratio ("LCR") 116% 115% 121% Net stable funding ratio ("NSFR") 132% 132% 136% Capital returns Cash dividends per common share $0.47 $0.42 $0.42 Common stock dividends ($mm) $353 $322 $333 Common stock repurchases ($mm) 725 601 450 Total capital return ($mm) $1,078 $923 $783 Total payout ratio 97% 81% 82% Profitability ROE 12.0% 12.7% 10.6% ROTCE(b) 22.8% 24.6% 20.6% Adjusted ROTCE(c) 23.2% 24.4% 21.4% Capital and Liquidity CAPITAL • Tier 1 leverage ratio of 6.0%, up 19 bps QoQ – Tier 1 capital of $24.0bn increased $966mm QoQ, primarily reflecting capital generated through earnings and improvements in accumulated other comprehensive income, partially offset by capital returned through common stock repurchases and dividends – Average assets for Tier 1 leverage ratio of $398.4bn increased $3.7bn QoQ • CET1 ratio of 11.9% up 52 bps QoQ – CET1 capital of $19.7bn increased $1,016mm QoQ, primarily reflecting capital generated through earnings and improvements in accumulated other comprehensive income, partially offset by capital returned through common stock repurchases and dividends – RWA of $165.5bn increased by $1.4bn QoQ LIQUIDITY • LCR of 116%, up 1%-pt QoQ • NSFR of 132%, flat QoQ (a) Note: See page 11 in the Appendix for corresponding footnotes. (b) Represents a non-GAAP measure. See page 13 in the Appendix for the corresponding reconciliation of the non-GAAP measure of ROTCE. (c) Represents a non-GAAP measure. See page 13 in the Appendix for the corresponding reconciliations of the non-GAAP measure of ROTCE excluding notable items.

5 1,016 1,101 1,040 1,030 1,048 3Q23 4Q23 1Q24 2Q24 3Q24 3Q24 vs. 3Q24 2Q24 3Q23 Total assets $416 1% 5% Total interest-earning assets $357 1% 5% Cash and reverse repo 142 — 3 Loans 69 1 8 Investment securities 140 1 6 Noninterest-bearing $48 (2)% (9)% Interest-bearing 237 — 13 Total deposits $285 —% 9% Net Interest Income and Balance Sheet Trends Net Interest Income ($mm) 1.18% 1.26% 1.19% 1.15% 1.16% 3Q23 4Q23 1Q24 2Q24 3Q24 Net Interest Margin Balance Sheet Trends ($bn, average) • Net interest income of $1,048mm up 3% YoY and up 2% QoQ – QoQ increase primarily reflecting higher sponsored member cleared repo activity • Net interest margin of 1.16% down 2 bps YoY and up 1 bp QoQ • Avg. total deposits of $285bn up 9% YoY and flat QoQ

6 3Q24 vs. $mm, unless otherwise noted 3Q24 2Q24 3Q23 Asset Servicing $1,021 —% 5% Issuer Services 285 (11) 1 Total investment services fees $1,306 (3)% 4% Foreign exchange revenue 137 (5) 28 Other fees(a) 57 2 10 Investment and other revenue 105 N/M N/M Net interest income 609 2 2 Total revenue $2,214 (1)% 6% Provision for credit losses 15 N/M N/M Noninterest expense 1,557 — (3) Income before income taxes $642 (7)% 38% $bn, unless otherwise noted 3Q24 2Q24 3Q23 Pre-tax margin 29% 31% 22% AUC/A (trn)(b)(c) $37.5 $35.7 $32.3 Deposits (average) $181 $178 $163 Issuer Services Total debt serviced (trn) $14.3 $14.1 $13.8 Number of sponsored Depositary Receipts programs 507 516 559 Securities Services Select Income Statement Data • Total revenue of $2,214mm up 6% YoY – Investment services fees up 4% YoY > Asset Servicing up 5% YoY, primarily reflecting higher market values > Issuer Services up 1% YoY, primarily reflecting higher Corporate Trust fees, partially offset by lower Depositary Receipts fees – Foreign exchange revenue up 28% YoY – Net interest income up 2% YoY • Noninterest expense of $1,557mm down 3% YoY, primarily reflecting efficiency savings and lower severance expense, partially offset by higher investments and employee merit increases • Income before income taxes of $642mm up 38% YoY Note: See page 11 in the Appendix for corresponding footnotes. N/M – not meaningful. Select Income Statement Data Key Performance Indicators

7 3Q24 vs. $mm, unless otherwise noted 3Q24 2Q24 3Q23 Pershing $475 —% (1)% Treasury Services 200 (1) 11 Clearance and Collateral Management 354 5 16 Total investment services fees $1,029 1% 7% Foreign exchange revenue 23 — 10 Other fees(a) 58 — 18 Investment and other revenue 20 N/M N/M Net interest income 415 — 3 Total revenue $1,545 1% 7% Provision for credit losses 7 N/M N/M Noninterest expense 834 — 5 Income before income taxes $704 —% 8% $bn, unless otherwise noted 3Q24 2Q24 3Q23 Pre-tax margin 46% 46% 45% AUC/A (trn)(b)(c) $14.3 $13.4 $13.1 Deposits (average) $89 $91 $84 Pershing AUC/A (trn)(b) $2.7 $2.6 $2.4 Net new assets (U.S. platform)(d) (22) (23) 23 Daily average revenue trades (DARTs) (U.S. platform) ('000) 251 280 223 Average active clearing accounts ('000) 8,085 8,057 7,979 Treasury Services U.S. dollar payment volumes (daily average) 242,243 241,253 233,620 Clearance and Collateral Management Tri-party collateral management balances (average) $5,511 $5,298 $5,706 Market and Wealth Services Select Income Statement Data Key Performance Indicators Select Income Statement Data • Total revenue of $1,545mm up 7% YoY – Investment services fees up 7% YoY > Pershing down 1% YoY, primarily reflecting lost business in the prior year, partially offset by higher market values > Treasury Services up 11% YoY, primarily reflecting net new business > Clearance and Collateral Management up 16% YoY, primarily reflecting higher collateral management fees and clearance volumes – Foreign exchange revenue up 10% YoY – Net interest income up 3% YoY • Noninterest expense of $834mm up 5% YoY, primarily reflecting higher investments and employee merit increases, partially offset by efficiency savings • Income before income taxes of $704mm up 8% YoY Note: See page 11 in the Appendix for corresponding footnotes. N/M – not meaningful.

8 3Q24 vs. $mm, unless otherwise noted 3Q24 2Q24 3Q23 Investment management fees $782 4% 5% Performance fees 13 N/M N/M Distribution and servicing fees 68 (1) 10 Other fees(a) (68) N/M N/M Investment and other revenue(b) 9 N/M N/M Net interest income 45 5 15 Total revenue $849 3% 2% Provision for credit losses 1 N/M N/M Noninterest expense 672 1 — Income before income taxes $176 18% 7% Total revenue by line of business: Investment Management $569 4% 1% Wealth Management 280 3 6 Total revenue $849 3% 2% $bn, unless otherwise noted 3Q24 2Q24 3Q23 Pre-tax margin 21% 18% 20% Deposits $10 $11 $14 Assets under management ("AUM")(c) $2,144 $2,045 $1,821 Long-term active strategies net flows $(8) $2 $(13) Index net flows (16) (4) (2) Short-term strategies net flows 24 (7) 7 Total net flows $— (9) (8) Wealth Management Client assets(d) $333 $308 $292 Investment and Wealth Management Select Income Statement Data Key Performance Indicators Select Income Statement Data • Total revenue of $849mm up 2% YoY – Investment Management up 1% YoY, primarily reflecting higher market values and improved seed capital results, partially offset by lower performance fees and the mix of AUM flows – Wealth Management up 6% YoY, primarily reflecting higher market values and net interest income, partially offset by changes in product mix • Noninterest expense of $672mm flat YoY, primarily reflecting efficiency savings, offset by employee merit increases and higher investments • Income before income taxes of $176mm up 7% YoY • AUM of $2.1trn up 18% YoY, primarily reflecting higher market values and the favorable impact of a weaker U.S. dollar • Wealth Management client assets of $333bn up 14% YoY, primarily reflecting higher market values and cumulative net inflows Note: See page 11 in the Appendix for corresponding footnotes. N/M – not meaningful.

9 $mm, unless otherwise noted 3Q24 2Q24 3Q23 Fee revenue $(1) $(4) $6 Investment and other revenue 55 29 74 Net interest (expense) (21) (25) (24) Total revenue $33 $— $56 Provision for credit losses — 1 (13) Noninterest expense 37 15 24 (Loss) income before income taxes $(4) $(16) $45 Other Segment Select Income Statement Data Select Income Statement Data • Total revenue includes corporate treasury and other investment activity, including hedging activity which has an offsetting impact between fee and other revenue and net interest expense – YoY decrease primarily reflects 3Q23 debt extinguishment gains • Noninterest expense increased YoY, primarily reflecting higher staff expense, partially offset by a reduction in the FDIC special assessment

APPENDIX

11 Footnotes Page 4 – Capital and Liquidity (a) Regulatory capital and liquidity ratios for September 30, 2024 are preliminary. For our CET1 ratio, 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 September 30, 2024 was the Standardized Approach, for June 30, 2024 was the Standardized Approach and for September 30, 2023 was the Advanced Approaches. Page 6 – Securities Services (a) Other fees primarily include financing-related fees. (b) September 30, 2024 information is preliminary. (c) Consists of AUC/A primarily from the Asset Servicing line of business and, to a lesser extent, the Issuer Services line of business. Includes the AUC/A of CIBC Mellon Global Securities Services Company (“CIBC Mellon”), a joint venture with the Canadian Imperial Bank of Commerce, of $1.9 trillion at September 30, 2024, $1.7 trillion at June 30, 2024 and $1.5 trillion at September 30, 2023. Page 7 – Market and Wealth Services (a) Other fees primarily include financing-related fees. (b) September 30, 2024 information is preliminary. (c) Consists of AUC/A from the Clearance and Collateral Management and Pershing lines of business. (d) Net new assets represent net flows of assets (e.g., net cash deposits and net securities transfers, including dividends and interest) in customer accounts in Pershing LLC, a U.S. broker-dealer. Page 8 – Investment and Wealth Management (a) Other fees primarily include investment services fees. (b) Investment and other revenue is net of income (loss) attributable to noncontrolling interests related to consolidated investment management funds. (c) September 30, 2024 information is preliminary. Represents assets managed in the Investment and Wealth Management business segment. (d) September 30, 2024 information is preliminary. Includes AUM and AUC/A in the Wealth Management line of business.

12 Select Income Statement Data Reconciliation of Non-GAAP Measures – Impact of Notable Items 3Q24 vs. $mm, except per share amounts 3Q24 2Q24 3Q23 2Q24 3Q23 Total revenue – GAAP $4,648 $4,597 $4,420 1% 5% Less: Disposal gain(a) — — 2 Adjusted total revenue, ex-notables — Non-GAAP $4,648 $4,597 $4,418 1% 5% Noninterest expense – GAAP $3,100 $3,070 $3,089 1% —% Less: Severance expense(b) 40 29 41 Litigation reserves(b) 2 2 5 FDIC special assessment(b) (17) (38) — Adjusted noninterest expense, ex-notables — Non-GAAP $3,075 $3,077 $3,043 —% 1% Net income applicable to common shareholders of The Bank of New York Mellon Corporation – GAAP $1,110 $1,143 $958 (3)% 16% Less: Disposal gain(a) — — — Severance expense(b) (31) (22) (32) Litigation reserves(b) (2) — (4) FDIC special assessment(b) 13 29 — Adjusted net income applicable to common shareholders of The Bank of New York Mellon Corporation — Non-GAAP $1,130 $1,136 $994 (1)% 14% Diluted earnings per share – GAAP $1.50 $1.52 $1.23 (1)% 22% Less: Disposal gain(a) — — — Severance expense(b) (0.04) (0.03) (0.04) Litigation reserves(b) — — (0.01) FDIC special assessment(b) 0.02 0.04 — Adjusted diluted earnings per share — Non-GAAP $1.52 $1.51 $1.27 1% 20% Operating leverage – GAAP(c) 13 bps 480 bps Adjusted operating leverage — Non-GAAP(c) 117 bps 416 bps Pre-tax operating margin – GAAP(d) 33% 33% 30% Adjusted pre-tax operating margin — Non-GAAP(d) 33% 33% 31% (a) Reflected in Investment and other revenue. (b) Severance expense is reflected in Staff expense, Litigation reserves in Other expense, and FDIC special assessment in Bank assessment charges, respectively. (c) Operating leverage is the rate of increase (decrease) in total revenue less the rate of increase (decrease) in total noninterest expense. (d) Income before taxes divided by total revenue. (e) Does not foot due to rounding.

13 $mm 3Q24 2Q24 3Q23 Net income applicable to common shareholders of The Bank of New York Mellon Corporation – GAAP $1,110 $1,143 $958 Add: Amortization of intangible assets 12 13 15 Less: Tax impact of amortization of intangible assets 3 3 3 Adjusted net income applicable to common shareholders of The Bank of New York Mellon Corporation, excluding amortization of intangible assets — Non-GAAP $1,119 $1,153 $970 Less: Disposal gain(a) — — — Severance expense(b) (31) (22) (32) Litigation reserves(b) (2) — (4) FDIC special assessment(b) 13 29 — 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 $1,139 $1,146 $1,006 Average common shareholders’ equity $36,772 $36,044 $35,873 Less: Average goodwill 16,281 16,229 16,237 Average intangible assets 2,827 2,834 2,875 Add: Deferred tax liability – tax deductible goodwill 1,220 1,213 1,197 Deferred tax liability – intangible assets 656 655 657 Average tangible common shareholders’ equity – Non-GAAP $19,540 $18,849 $18,615 Return on common equity(c) – GAAP 12.0% 12.7% 10.6% Adjusted return on common equity(c) – Non-GAAP 12.2% 12.7% 11.0% Return on tangible common equity(c) – Non-GAAP 22.8% 24.6% 20.6% Adjusted return on tangible common equity(c) – Non-GAAP 23.2% 24.4% 21.4% Return on Common Equity and Tangible Common Equity Reconciliation (a) Reflected in Investment and other revenue. (b) Severance expense is reflected in Staff expense, Litigation reserves in Other expense, and FDIC special assessment in Bank assessment charges, respectively. (c) Returns are annualized.

14 A number of statements in our presentations, the accompanying slides and the responses to questions on our conference call discussing our quarterly results may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including statements about The Bank of New York Mellon Corporation’s (the “Corporation,” “we,” “us,” or “our”) capital plans including dividends and repurchases, total payout ratio, financial performance, fee revenue, net interest income, expenses, cost discipline, efficiency savings, operating leverage, pre-tax margin, capital ratios, organic growth, pipeline, deposits, interest rates and yield curves, securities portfolio, taxes, investments, including in technology and product development, innovation in products and services, artificial intelligence, client experience, strategic priorities and initiatives, acquisition, related integration and divestiture activity, transition to a platforms operating model, capabilities, resiliency, risk profile, human capital management and the effects of the current and near-term market and macroeconomic outlook on us, including on our business, operations, financial performance and prospects. Preliminary business metrics and regulatory capital ratios are subject to change, possibly materially as we complete our Quarterly Report on Form 10-Q for the quarter ended September 30, 2024. Forward-looking statements may be expressed in a variety of ways, including the use of future or present tense language. Words such as “estimate,” “forecast,” “project,” “anticipate,” “likely,” “target,” “expect,” “intend,” “continue,” “seek,” “believe,” “plan,” “goal,” “could,” “should,” “would,” “may,” “might,” “will,” “strategy,” “synergies,” “opportunities,” “trends,” “momentum,” “ambition,” “aspiration,” “objective,” “aim,” “future,” “potentially,” “outlook” and words of similar meaning may signify forward-looking statements. These statements are not guarantees of future results or occurrences, are inherently uncertain and are based upon current beliefs and expectations of future events, many of which are, by their nature, difficult to predict, outside of our control and subject to change. By identifying these statements for you in this manner, we are alerting you to the possibility that our actual results may differ, possibly materially, from the anticipated results expressed or implied in these forward-looking statements as a result of a number of important factors. These factors include: changing levels of inflation and interest rates and the corresponding impacts on macroeconomic conditions, client behavior and our funding costs; liquidity and interest rate volatility; potential recessions or slowing of growth in the US, Europe and other regions; the impacts of continued hostilities in the Middle East; our ability to execute against our strategic initiatives; potential increased regulatory requirements and costs; and the risk factors and other uncertainties set forth in our Annual Report on Form 10-K for the year ended Dec. 31, 2023 (the “2023 Annual Report”) and our other filings with the Securities and Exchange Commission (the “SEC”). Forward-looking statements about the timing, profitability, benefits and other prospective aspects of business and expense initiatives, our financial outlook and our medium-term financial targets, and how they can be achieved, are based on our current expectations regarding our ability to execute against our strategic initiatives, as well as our balance sheet size and composition, and may change, possibly materially, from what is currently expected. Statements about our outlook on fee revenue are subject to various factors, including market levels, client activity, our ability to win and onboard new business, lost business, pricing pressure and our ability to launch new products to, and expand relationships with, existing clients. Statements about our outlook on net interest income are subject to various factors, including interest rates, continued quantitative tightening, re-investment yields and the size, mix and duration of our balance sheet size, including with respect to deposits, loan balances and the securities portfolio. Statements about our outlook on expenses are subject to various factors, including investments, revenue-related expenses, efficiency savings, merit increases, inflation and currency fluctuations. Statements about our target Tier 1 leverage ratio and CET1 ratio are subject to various factors, including capital requirements, interest rates, capital levels, risk-weighted assets and the size of our balance sheet, including deposit levels. Statements about Pershing X’s projected revenue are subject to various factors, including pricing, pipeline, demand from existing clients, the number of services and apps purchased, investments and inflation. Statements about the timing, manner and amount of any future common stock dividends or repurchases, as well as our outlook on total payout ratio, are subject to various factors, including our capital position, capital deployment opportunities, prevailing market conditions, legal and regulatory considerations and our outlook for the economic environment. Statements about our future effective tax rate are subject to various factors including, changes in the tax rates applicable to us, changes in our earnings mix, our profitability, the assumptions we have made in forecasting our expected tax rate, the interpretation or application of existing tax statutes and regulations, as well as any corporate tax legislation that may be enacted or any guidance that may be issued by the U.S. Internal Revenue Service. You should not place undue reliance on any forward-looking statement. All forward-looking statements speak only as of the date on which they were made, and we undertake no obligation to update any forward-looking statement to reflect events or circumstances after such date or to reflect the occurrence of unanticipated events. Non-GAAP Measures. In this presentation, the accompanying slides and our responses to questions, we may discuss certain non-GAAP measures in detailing our performance, which exclude certain items or otherwise include components that differ from GAAP. We believe these measures are useful to the investment community in analyzing the financial results and trends of ongoing operations. We believe they facilitate comparisons with prior periods and reflect the principal basis on which our management monitors financial performance. Additional disclosures relating to non-GAAP measures are contained in our reports filed with the SEC, including the 2023 Annual Report, the third quarter 2024 earnings release and the third quarter 2024 financial supplement, which are available at www.bny.com/investorrelations. Forward-Looking Non-GAAP Financial Measures. From time to time we may discuss forward-looking non-GAAP financial measures, such as forward-looking estimates or targets for expenses excluding notable items and for return on tangible common equity. We are unable to provide a reconciliation of forward- looking non-GAAP financial measures to their most directly comparable GAAP financial measures because we are unable to provide, without unreasonable effort, a meaningful or accurate calculation or estimation of amounts that would be necessary for the reconciliation due to the complexity and inherent difficulty in forecasting and quantifying future amounts or when they may occur. Such unavailable information could be significant to future results. Cautionary Statement

Document and Entity Information	Oct. 11, 2024
Entity Information [Line Items]
Document Type	8-K
Document Period End Date	Oct. 11, 2024
Entity Registrant Name	THE BANK OF NEW YORK MELLON CORPORATION
Entity Incorporation, State or Country Code	DE
Entity File Number	001-35651
Entity Tax Identification Number	13-2614959
Entity Address, Address Line One	240 Greenwich Street
Entity Address, City or Town	New York
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10286
City Area Code	212
Local Phone Number	495-1784
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Entity Emerging Growth Company	false
Entity Central Index Key	0001390777
Amendment Flag	false
New York Stock Exchange \| Common Stock, $0.01 par value
Entity Information [Line Items]
Title of 12(b) Security	Common Stock, $0.01 par value
Trading Symbol	BK
Security Exchange Name	NYSE
New York Stock Exchange \| 6.244% Fixed-to-Floating Rate Normal Preferred Capital Securities of Mellon Capital IV
Entity Information [Line Items]
Title of 12(b) Security	6.244% Fixed-to-Floating Rate Normal Preferred Capital Securities of Mellon Capital IV
Trading Symbol	BK/P
Security Exchange Name	NYSE

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