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UNITED STATESSECURITIES AND EXCHANGE COMMISSIONWashington, D.C. 20549FORM 10-Q Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934For the Quarterly Period Ended March 31, 2022or Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934Commission File Number 001-35651THE BANK OF NEW YORK MELLON CORPORATION(Exact name of registrant as specified in its charter)Delaware13-2614959(State or other jurisdiction of incorporation or organization)(I.R.S. Employer Identification No.)240 Greenwich StreetNew York, New York 10286(Address of principal executive offices) (Zip Code)Registrant’s telephone number, including area code – (212) 495-1784Not Applicable(Former name, former address and former fiscal year, if changed since last report)Securities registered pursuant to Section 12(b) of the Act:Title of each classCommon Stock, 0.01 par value6.244% Fixed-to-Floating Rate Normal Preferred Capital Securities of Mellon Capital IV(fully and unconditionally guaranteed by The Bank of New York Mellon Corporation)TradingName of each exchangesymbol(s)on which registeredBKNew York Stock ExchangeBK/PNew York Stock ExchangeIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities ExchangeAct of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has beensubject to such filing requirements for the past 90 days. Yes No Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant toRule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant wasrequired to submit such files). Yes No Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reportingcompany, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,”and “emerging growth company” in Rule 12b-2 of the Exchange Act.Large accelerated filerNon-accelerated filer Accelerated filer Smaller reporting company 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 complyingwith any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes As of March 31, 2022, 807,798,243 shares of the registrant’s common stock, 0.01 par value per share, were outstanding.No

THE BANK OF NEW YORK MELLON CORPORATIONFirst Quarter 2022 Form 10-QTable of ContentsConsolidated Financial Highlights (unaudited)Page2Part I – Financial InformationItems 2. and 3. Management’s Discussion andAnalysis of Financial Condition and Results ofOperations; Quantitative and Qualitative Disclosuresabout Market Risk:GeneralOverviewKey first quarter 2022 eventsHighlights of first quarter 2022 resultsFee and other revenueNet interest revenueNoninterest expenseIncome taxesReview of business segmentsCritical accounting estimatesConsolidated balance sheet reviewLiquidity and dividendsCapitalTrading activities and risk managementAsset/liability managementSupplemental information – Explanation of GAAPand Non-GAAP financial measuresRecent accounting and regulatory developmentsOther mattersWebsite informationItem 1. Financial Statements:Consolidated Income Statement (unaudited)Consolidated Comprehensive Income Statement(unaudited)Consolidated Balance Sheet (unaudited)Consolidated Statement of Cash Flows (unaudited)Consolidated Statement of Changes in ageNotes to Consolidated Financial Statements:Note 1—Basis of presentationNote 2—Acquisitions and dispositionsNote 3—SecuritiesNote 4—Loans and asset qualityNote 5—Goodwill and intangible assetsNote 6—Other assetsNote 7—Contract revenueNote 8—Net interest revenueNote 9—Employee benefit plansNote 10—Income taxesNote 11—Variable interest entitiesNote 12—Preferred stockNote 13—Other comprehensive income (loss)Note 14—Fair value measurementNote 15—Fair value optionNote 16—Derivative instrumentsNote 17—Commitments and contingent liabilitiesNote 18—Business segmentsNote 19—Supplemental information to theConsolidated Statement of Cash Flows535353596566687070707172737380808793Item 4. Controls and ProceduresForward-looking Statements969746Part II – Other InformationItem 1. Legal Proceedings.Item 2. Unregistered Sales of Equity Securities andUse of Proceeds.Item 6. Exhibits.484950Index to ExhibitsSignature5195999999100102

The Bank of New York Mellon Corporation (and its subsidiaries)Consolidated Financial Highlights (unaudited)(dollars in millions, except per share amounts and unless otherwise noted)Results applicable to common shareholders of The Bank of New York Mellon Corporation:Net incomeBasic earnings per shareDiluted earnings per shareFee and other revenueNet interest revenueTotal revenueMarch 31,2022Quarter endedDec. 31,2021March 31,2021 6990.860.86 8221.011.01 8580.970.97 3,2286983,926 3,3386774,015 3,2666553,921 7.6%15.4%8.6%17.2%8.5%16.1%Fee revenue as a percentage of total revenue80%80%83%Non-U.S. revenue as a percentage of total revenue35%38%37%Pre-tax operating n on common equity (annualized)Return on tangible common equity (annualized) – Non-GAAP (a)Net interest marginNet interest margin on a fully taxable equivalent (“FTE”) basis – Non-GAAP (b)Assets under custody and/or administration (“AUC/A”) at period end (in trillions) (c)Assets under management (“AUM”) at period end (in billions) (d) Average common shares and equivalents outstanding (in thousands):BasicDilutedSelected average balances:Interest-earning assetsTotal assetsInterest-bearing depositsNoninterest-bearing depositsLong-term debtPreferred stockTotal The Bank of New York Mellon Corporation common shareholders’ equityOther information at period end:Cash dividends per common shareCommon dividend payout ratioCommon dividend yield (annualized)Closing stock price per common shareMarket capitalizationBook value per common shareTangible book value per common share – Non-GAAP (a)Full-time employeesCommon shares outstanding (in thousands)2 BNY Mellon45.52,266 46.72,434 5 373,186 440,202 223,243 90,179 25,588 4,838 37,363 381,682 449,638 231,086 91,535 25,932 5,027 37,941 397,297 460,379 245,115 83,429 26,199 4,541 40,720 0.3440%2.8% 49.63 40,091 45.76 22.7649,600807,7980.3434%2.3% 58.08 46,705 47.50 24.3149,100804,1450.3132%2.7% 47.29 41,401 46.16 24.8848,000875,481

Consolidated Financial Highlights (unaudited)Regulatory capital and other ratiosAverage liquidity coverage ratio (“LCR”)Regulatory capital ratios: (e)Advanced:Common Equity Tier 1 (“CET1”) ratioTier 1 capital ratioTotal capital ratioStandardized:CET1 ratioTier 1 capital ratioTotal capital ratioTier 1 leverage ratioSupplementary leverage ratio (“SLR”)BNY Mellon shareholders’ equity to total assets ratioBNY Mellon common shareholders’ equity to total assets ratio(continued)March 31,2022109%Dec. 11.2%14.014.95.3%6.25.5%6.68.8%7.89.7%8.6(a) Return on tangible common equity and tangible book value per common share, Non-GAAP measures, exclude goodwill and intangibleassets, net of deferred tax liabilities. See “Supplemental information – Explanation of GAAP and Non-GAAP financial measures”beginning on page 41 for the reconciliation of Non-GAAP measures.(b) See “Net interest revenue” on page 9 for a reconciliation of this Non-GAAP measure.(c) Consists of AUC/A primarily from the Asset Servicing line of business and, to a lesser extent, the Clearance and Collateral Management,Issuer Services, Pershing and Wealth Management businesses. Includes the AUC/A of CIBC Mellon Global Securities ServicesCompany (“CIBC Mellon”), a joint venture with the Canadian Imperial Bank of Commerce, of 1.7 trillion at March 31, 2022 and Dec.31, 2021 and 1.6 trillion at March 31, 2021.(d) Excludes assets managed outside of the Investment and Wealth Management business segment.(e) For our CET1, Tier 1 capital and Total capital ratios, our effective capital ratios under U.S. capital rules are the lower of the ratios ascalculated under the Standardized and Advanced Approaches. For additional information on our capital ratios, see “Capital”beginning on page 33.BNY Mellon 3

Part I – Financial InformationItems 2. and 3. Management’s Discussion and Analysis of Financial Condition and Results ofOperations; Quantitative and Qualitative Disclosures about Market RiskGeneralIn this Quarterly Report on Form 10-Q, references to“our,” “we,” “us,” “BNY Mellon,” the “Company”and similar terms refer to The Bank of New YorkMellon Corporation and its consolidated subsidiaries.The term “Parent” refers to The Bank of New YorkMellon Corporation but not its subsidiaries.The diagram below presents our three businesssegments and lines of business, with the remainingoperations in the Other segment.Certain business terms used in this report are definedin the Glossary included in our Annual Report onForm 10-K for the year ended Dec. 31, 2021 (the“2021 Annual Report”).The following should be read in conjunction with theConsolidated Financial Statements included in thisreport. Investors should also read the section titled“Forward-looking Statements.”OverviewEstablished in 1784 by Alexander Hamilton, we werethe first company listed on the New York StockExchange (NYSE: BK). With a history of more than235 years, BNY Mellon is a global companydedicated to helping its clients manage and servicetheir financial assets throughout the investmentlifecycle. Whether providing financial services forinstitutions, corporations or individual investors,BNY Mellon delivers informed investment andwealth management and investment services in 35countries.BNY Mellon has three business segments, SecuritiesServices, Market and Wealth Services and Investmentand Wealth Management, which offer acomprehensive set of capabilities and deep expertiseacross the investment lifecycle, enabling theCompany to provide solutions to buy-side and sellside market participants, as well as leadinginstitutional and wealth management clients globally.Key first quarter 2022 eventsLeadership successionIn March 2022, Todd Gibbons announced hisdecision to retire as Chief Executive Officer andmember of the Board of Directors effective Aug. 31,2022. The Board of Directors appointed Robin Vinceto the position of President and CEO-Elect, andintends to appoint Mr. Vince to serve as CEO, inaddition to his current role as President, when Mr.Gibbons retires. Since 2020, Mr. Vince has served asVice Chair of BNY Mellon and CEO of GlobalMarket Infrastructure, which includes BNY Mellon’sPershing, Treasury Services, and Clearance andCollateral Management lines of business, as well asMarkets & Execution Services.Impact of sanctions and actions related to RussiaAs a result of the war in Ukraine, BNY Mellon hasceased new banking business in Russia andsuspended investment management purchases ofRussian securities. Government sanctions and ouractions resulted in an approximately 90 millionreduction in fee revenue in the first quarter of 2022,and is expected to impact the Company’s annual4 BNY Mellon

revenue by an estimated 80 million to 100 milliongoing forward. We will continue to work withmultinational clients that depend on our custody andrecordkeeping services to manage their exposures.Highlights of first quarter 2022 resultsNet income applicable to common shareholders was 699 million, or 0.86 per diluted common share, inthe first quarter of 2022. Net income applicable tocommon shareholders was 858 million, or 0.97 perdiluted common share, in the first quarter of 2021.The highlights below are based on the first quarter of2022 compared with the first quarter of 2021, unlessotherwise noted. Total revenue of 3.9 billion was flat, primarilyreflecting: Fee and other revenue decreased 1%, primarilyreflecting: Fee revenue decreased 3%, mainly reflectingan 88 million reduction primarily due toaccelerated amortization of deferred costsfor depositary receipts services related toRussia. The decrease also reflects theimpact of lost business in the prior year inboth Pershing and Corporate Trust, theunfavorable impact of a stronger U.S. dollarand lower foreign exchange revenue,partially offset by higher market values.(See “Fee and other revenue” beginning onpage 6.) Investment and other revenue increased,primarily reflecting a strategic equityinvestment gain in the first quarter of 2022and a 39 million impairment for arenewable energy investment recorded in thefirst quarter of 2021, partially offset bylower seed capital results. (See “Fee andother revenue” beginning on page 6.) Net interest revenue increased 7%, primarilyreflecting higher interest rates on interestearning assets, a change in asset mix and lowerfunding expense, partially offset by lowerinterest-earning assets. (See “Net interestrevenue” on page 9.) Provision for credit losses was 2 millioncompared with a benefit of 83 million. (See“Consolidated balance sheet review – Allowancefor credit losses” beginning on page 27.) Noninterest expense increased approximately5.5%, primarily reflecting higher investments ingrowth, infrastructure and efficiency initiativesand higher revenue-related expenses, partiallyoffset by the favorable impact of a stronger U.S.dollar. (See “Noninterest expense” on page 11.) Effective tax rate of 16.7% includes a benefit fromthe annual vesting of stock-based awards. (See“Income taxes” on page 11.)Metrics AUC/A of 45.5 trillion increased 9%, primarilyreflecting client inflows, net new business andhigher market values, partially offset by theunfavorable impact of a stronger U.S. dollar. AUM of 2.3 trillion increased 2%, primarilyreflecting net inflows and higher market values,partially offset by the unfavorable impact of astronger U.S. dollar.Capital and liquidity CET1 ratio was 10.1% at March 31, 2022,compared with 11.2% at Dec. 31, 2021. Thedecrease primarily reflects unrealized losses onsecurities available-for-sale, higher risk-weightedassets (“RWAs”) driven by the implementation ofthe Standardized Approach to Counterparty CreditRisk and capital deployed through dividends,partially offset by capital generated throughearnings. (See “Capital” beginning on page 33.) Tier 1 leverage was 5.3% at March 31, 2022,compared with 5.5% at Dec. 31, 2021. Thedecrease was driven by the decrease in capital,partially offset by lower average assets. (See“Capital” beginning on page 33.) Repurchased 1.9 million common shares for 118million and dividends to common shareholderswere 278 million (including dividend-equivalentson share-based awards).Highlights of our principal business segmentsSecurities Services Total revenue was flat and includes acceleratedamortization of deferred costs for depositaryreceipts services related to Russia. Income before income taxes decreased 33%. Pre-tax operating margin of 16%.BNY Mellon 5

Market and Wealth Services Total revenue was flat. Income before income taxes decreased 10%. Pre-tax operating margin of 41%.Investment and Wealth Management Total revenue decreased 3%. Income before income taxes decreased 24%. Pre-tax operating margin of 22%; adjusted pre-taxoperating margin – Non-GAAP of 24%. (See“Supplemental information – Explanation ofGAAP and Non-GAAP financial measures”beginning on page 41 for a reconciliation of thisNon-GAAP measure.)See “Review of business segments” and Note 18 ofthe Notes to Consolidated Financial Statements foradditional information on our business segments.Fee and other revenueFee and other revenue(dollars in millions, unless otherwise noted)Investment services feesInvestment management and performance fees (a)Foreign exchange revenueFinancing-related feesDistribution and servicing feesTotal fee revenueInvestment and other revenueTotal fee and other revenueFee revenue as a percentage of total revenueAUC/A at period end (in trillions) (b)AUM at period end (in billions) (c)1Q224Q211Q21 1,993 2,061 701079 3,228 3,338 3,26680% 45.5 2,26680% 46.7 2,4341Q22 vs.4Q21 )%83% 41.7 2,214(3)%(7)%9%2%(a) Excludes seed capital gains (losses) related to consolidated investment management funds.(b) Consists of AUC/A primarily from the Asset Servicing line of business and, to a lesser extent, the Clearance and Collateral Management,Issuer Services, Pershing and Wealth Management businesses. Includes the AUC/A of CIBC Mellon of 1.7 trillion at March 31, 2022and Dec. 31, 2021 and 1.6 trillion at March 31, 2021.(c) Excludes assets managed outside of the Investment and Wealth Management business segment.N/M – Not meaningful.Fee revenue decreased 3% compared with the firstquarter of 2021 and 2% compared with the fourthquarter of 2021. The decreases compared with thefirst quarter of 2021 and fourth quarter of 2021mainly reflect an 88 million reduction primarily dueto accelerated amortization of deferred costs fordepositary receipts services related to Russia. Thedecrease compared with the first quarter of 2021 alsoreflects the impact of lost business in the prior year inboth Pershing and Corporate Trust, the unfavorableimpact of a stronger U.S. dollar and lower foreignexchange revenue, partially offset by higher marketvalues. The decrease compared with the fourthquarter of 2021 also reflects lower market values,partially offset by lower money market fee waivers.Investment and other revenue increased 61 millioncompared with the first quarter of 2021 and decreased 37 million compared with the fourth quarter of 2021.6 BNY MellonThe increase compared with the first quarter of 2021primarily reflects a strategic equity investment gain inthe first quarter of 2022 and a 39 million impairmentfor a renewable energy investment recorded in thefirst quarter of 2021, partially offset by lower seedcapital results. The decrease compared with thefourth quarter of 2021 primarily reflects lower seedcapital results.Money market fee waiversGiven the continued low short-term interest rates,money market mutual fund fees and other similar feesare being waived to protect investors from negativereturns. The fee waivers have impacted fee revenuesin most of our businesses, but also resulted in lowerdistribution and servicing expense. Money marketfee waivers are highly sensitive to changes in shortterm interest rates and are difficult to predict.

The following table presents the impact of moneymarket fee waivers on our consolidated fee revenue,net of distribution and servicing expense. In the firstquarter of 2022, the net impact of money market feewaivers was 199 million, down from 243 million inthe fourth quarter of 2021, driven by higher interestrates, partially offset by higher balances.was partially offset by lower money market feewaivers.See “Securities Services business segment” and“Market and Wealth Services business segment” in“Review of business segments” for additional details.Investment management and performance feesMoney market fee waivers(in millions)Investment services feesInvestment management andperformance feesDistribution and servicing feesTotal fee revenueLess: Distribution and servicingexpenseNet impact of money marketfee waivers1Q224Q211Q21 (126) (148) 3 (199) (243) (188)Impact to investment services feesby line of business (a) (19) (31) (15)Asset Servicing(11)Issuer Services(18)(11)(90)Pershing(89)(77)(6)Treasury Services(10)(6)Total impact of investmentservices fees by line of (126) (148) (109)businessImpact to revenue by line ofbusiness (a):Asset ServicingIssuer ServicesPershingTreasury ServicesInvestment ManagementWealth ManagementTotal impact to fee revenue byline of business (28) (50) )(9)(61)(3) (222) (278) (211)(a) The line of business revenue for management reportingpurposes reflects the impact of revenue transferred betweenthe businesses.Investment services feesInvestment services fees decreased 3% comparedwith the first quarter of 2021 and fourth quarter of2021. Both decreases mainly reflect the reductionprimarily due to accelerated amortization of deferredcosts for depositary receipts services related toRussia. The decrease compared with the first quarterof 2021 also reflects the impact of lost business in theprior year in both Pershing and Corporate Trust andthe unfavorable impact of a stronger U.S. dollar,partially offset by higher market values. Thedecrease compared with the fourth quarter of 2021Investment management and performance feesdecreased 1% compared with the first quarter of 2021and fourth quarter of 2021. The decrease comparedwith the first quarter of 2021 primarily reflects theunfavorable impact of a stronger U.S. dollar andlower equity income, partially offset by higher marketvalues. The decrease compared with the fourthquarter of 2021 primarily reflects lower marketvalues, partially offset by lower money market feewaivers. Performance fees were 34 million in thefirst quarter of 2022, 40 million in the first quarter of2021 and 32 million in the fourth quarter of 2021.On a constant currency basis (Non-GAAP),investment management and performance feesincreased 1% compared with the first quarter of 2021.See “Supplemental information – Explanation ofGAAP and Non-GAAP financial measures”beginning on page 41 for the reconciliation of NonGAAP measures.AUM was 2.3 trillion at March 31, 2022, an increaseof 2% compared with March 31, 2021, primarilyreflecting net inflows and higher market values,partially offset by the unfavorable impact of astronger U.S. dollar.See “Investment and Wealth Management businesssegment” in “Review of business segments” foradditional details regarding the drivers of investmentmanagement and performance fees, AUM and AUMflows.Foreign exchange revenueForeign exchange revenue is primarily driven by thevolume of client transactions and the spread realizedon these transactions, both of which are impacted bymarket volatility, the impact of foreign currencyhedging activities and foreign currencyremeasurement gain (loss). Foreign exchangerevenue decreased 10% compared with the firstquarter of 2021 and increased 4% compared with thefourth quarter of 2021. The decrease compared withthe first quarter of 2021 primarily reflects lowerBNY Mellon 7

volumes. The increase compared with the fourthquarter of 2021 primarily reflects higher volumes andvolatility. Foreign exchange revenue is primarilyreported in the Securities Services business segmentand, to a lesser extent, the Market and WealthServices and Investment and Wealth Managementbusiness segments and the Other segment.Expense reimbursements from our CIBC Mellon jointventure relate to expenses incurred by BNY Mellonon behalf of the CIBC Mellon joint venture. Otherincome or loss includes various miscellaneousrevenues.The following table provides the components ofinvestment and other revenue.Investment and other revenueInvestment and other revenue includes income or lossfrom consolidated investment management funds,seed capital gains or losses, other trading revenue orloss, renewable energy investments losses, incomefrom corporate and bank-owned life insurancecontracts, other investment gains or losses, gains orlosses from disposals, expense reimbursements fromour CIBC Mellon joint venture, other income or lossand net securities gains or losses. The income or lossfrom consolidated investment management fundsshould be considered together with the net income orloss attributable to noncontrolling interests, whichreflects the portion of the consolidated funds forwhich we do not have an economic interest and isreflected below net income as a separate line item onthe consolidated income statement. Other tradingrevenue or loss primarily includes the impact ofmarket-risk hedging activity related to our seedcapital investments in investment management funds,non-foreign currency derivative and fixed incometrading, and other hedging activity. Investments inrenewable energy generate losses in investment andother revenue that are more than offset by benefitsand credits recorded to the provision for incometaxes. Other investment gains or losses includes fairvalue changes of non-readily marketable equitysecurities, private equity and other investments.8 BNY MellonInvestment and other revenue1Q22 4Q21 1Q21(in millions)(Loss) income from consolidated (20) 9 17investment management funds(8)Seed capital (losses) gains (a)1235Other trading revenue (loss)(6)(7)Renewable energy ed life insurance453361Other investments gains (b)5511Expense reimbursements from jointventure27232312Other income51041—Net securities gainsTotal investment and other revenue 70 107 9(a) Includes gains (losses) on investments in BNY Mellon fundswhich hedge deferred incentive awards.(b) Includes strategic equity, private equity and otherinvestments.Investment and other revenue was 70 million in thefirst quarter of 2022 compared with 9 million in thefirst quarter of 2021 and 107 million in the fourthquarter of 2021. The increase compared with the firstquarter of 2021 primarily reflects a strategic equityinvestment gain in the first quarter of 2022 and a 39million impairment for a renewable energyinvestment recorded in the first quarter of 2021,partially offset by lower seed capital results. Thedecrease compared with the fourth quarter of 2021primarily reflects lower seed capital results.

Net interest revenueNet interest revenue(dollars in millions)Net interest revenue – GAAPAdd: Tax equivalent adjustmentNet interest revenue (FTE) – Non-GAAP (a)Average interest-earning assetsNet interest margin – GAAPNet interest margin (FTE) – Non-GAAP (a) 1Q22698 3701 4Q21677 4681 1Q216553658 373,186 381,682 397,2970.75%0.76%0.71%0.71%0.66%0.67%1Q22 vs.4Q211Q213%7%N/MN/M3%7%(2)%(6)%4 bps5 bps9 bps9 bps(a) Net interest revenue (FTE) – Non-GAAP and net interest margin (FTE) – Non-GAAP include the tax equivalent adjustments on taxexempt income, which allows for comparisons of amounts arising from both taxable and tax-exempt sources and is consistent withindustry practice. The adjustment to an FTE basis has no impact on net income.N/M – Not meaningful.bps – basis points.Net interest revenue increased 7% compared with thefirst quarter of 2021 and 3% compared with the fourthquarter of 2021. The increase compared with the firstquarter of 2021 primarily reflects higher interest rateson interest-earning assets, a change in asset mix andlower funding expense, partially offset by lowerinterest-earning assets. The increase compared withthe fourth quarter of 2021 primarily reflects higherinterest rates on interest-earning assets, partiallyoffset by higher funding expense and lower interestearning assets.Net interest margin increased 9 basis points comparedwith the first quarter of 2021 and 4 basis pointscompared with the fourth quarter of 2021. Thechanges compared with the first quarter of 2021 andthe fourth quarter of 2021 primarily reflect the factorsmentioned above.Average interest-earning assets decreased 6%compared with the first quarter of 2021 and 2%compared with the fourth quarter of 2021. Bothdecreases primarily reflect lower interest-bearingdeposits with the Federal Reserve and other centralbanks, interest-bearing deposits with banks andsecurities balances. These decreases were partiallyoffset by larger loan balances.Average non-U.S. dollar deposits comprisedapproximately 25% of our average total deposits inthe first quarter of 2022. Approximately 40% of theaverage non-U.S. dollar deposits in the first quarter of2022 were euro-denominated.BNY Mellon 9

Average balances and interest ratesMarch 31, 2022AverageAveragebalance Interestrates(dollars in millions; average rates annualized)AssetsInterest-earning assets:Interest-bearing deposits with the Federal Reserve and 100,303 other central banksInterest-bearing deposits with banks (primarily foreign17,181banks)Federal funds sold and securities purchased under27,006resale agreements (a)66,810LoansSecurities:40,868U.S. government obligations67,055U.S. government agency obligations2,337State and political subdivisions (b)45,541Other securities (b)155,801Total investment securities (b)6,085Trading securities (b)161,886Total securities (b) 373,186 Total interest-earning assets (b)67,016Noninterest-earning assets 440,202Total assetsLiabilities and equityInterest-bearing liabilities:Interest-bearing depositsFederal funds purchased and securities sold underrepurchase agreements (a)Trading liabilitiesOther borrowed fundsCommercial paperPayables to customers and broker-dealersLong-term debtTotal interest-bearing liabilitiesTotal noninterest-bearing depositsOther noninterest-bearing liabilitiesTotal liabilitiesTotal The Bank of New York Mellon Corporationshareholders’ equityNoncontrolling interestsTotal liabilities and equityNet interest revenue (FTE) – Non-GAAP (b)(c)Net interest margin (FTE) – Non-GAAP (b)(c)Less: Tax equivalent adjustmentNet interest revenue – GAAPNet interest margin – GAAP(a)(b)(c) 223,243 12,8643,372458416,66125,588 282,190 90,17925,419397,78820.01%Quarter endedDec. 31, 2021AverageAveragebalance Interestrates 105,065 (15) (0.06)% 125,930 650312530.451.5529,18656,78

Note 5—Goodwill and intangible assets 65 Note 6—Other assets 66 Note 7—Contract revenue 68 Note 8—Net interest revenue 70 Note 9—Employee benefit plans 70 Note 10—Income taxes 70 Note 11—Variable interest entities 71 Note 12—Preferred stock 72 Note 13—Other comprehensive income (loss) 73 Note 14—Fair value measurement 73