Assets under custody and/or administration (AUC/A) increased by 6% YoY to $49.5 trillion, and assets under management (AUM) increased by 7% YoY to $2.0 trillion, both primarily reflecting higher market values and net client flows, indicating positive growth in the company's core businesses.

The Board of Directors approved a 12% increase in the quarterly cash dividend, from $0.42 to $0.47 per share, demonstrating management's confidence in the company's financial position and future cash flow generation.

The company returned $923 million to common shareholders, including $601 million in common share repurchases, indicating a continued commitment to returning capital to shareholders.

Noninterest expense decreased by 1% YoY, primarily reflecting efficiency savings, a reduction in the FDIC special assessment, and lower litigation reserves, indicating effective cost management.

The company continues to invest in growth, infrastructure and efficiency initiatives, primarily included in staff, software and equipment, and professional, legal and other purchased services expenses, suggesting a focus on long-term growth and operational improvements.

Excluding notable items, noninterest expense increased by 1% YoY, indicating that underlying cost pressures remain despite efficiency efforts. This suggests the need for continued cost management focus.

The financial institutions and commercial portfolios comprise the largest concentrated risk, representing 48% of total exposure, indicating potential vulnerability to sector-specific downturns.

Net securities losses negatively impacted investment and other revenue, highlighting the company's exposure to market fluctuations and the need for effective risk management.

The company is subject to various regulatory changes, including the SEC's amendments to Regulation S-P, and new accounting guidance, which require ongoing compliance efforts and may impact the business.

The company continues to be a leading global investment services provider with $35.7 trillion of AUC/A in Securities Services and $13.4 trillion in AUC/A in Market and Wealth Services, indicating a strong competitive position in these key segments.

Market and regulatory trends are driving investable assets toward lower fee asset management products at reduced margins for clients, which is negatively impacting investment services fees, highlighting increased competition.

The company is one of the largest providers of depositary receipts services in the world, partnering with leading companies from more than 50 countries, indicating a strong competitive advantage in this niche market.

Noninterest expense decreased by 1% YoY, primarily due to efficiency savings, demonstrating the company's focus on operational efficiency and cost management.

While noninterest expense decreased YoY, higher employee merit increases and revenue-related expenses partially offset the efficiency savings, indicating ongoing cost pressures.

The company continues to invest in growth, infrastructure and efficiency initiatives, primarily included in staff, software and equipment, and professional, legal and other purchased services expenses, suggesting a focus on long-term operational improvements.

The company continues to develop its digital asset capabilities and work closely with clients to address their evolving digital asset needs, indicating a commitment to innovation and staying ahead of market trends.

As of and for the quarter ended June 30, 2024, the Digital Asset Custody platform and related initiative had a de minimis impact on assets, liabilities, revenues and expenses, suggesting it is still in early stages of development.

The company continues to invest in growth, infrastructure and efficiency initiatives, primarily included in staff, software and equipment, and professional, legal and other purchased services expenses, suggesting a focus on long-term technology and operational improvements.

The company returned $923 million to common shareholders through share repurchases and increased dividends, indicating a commitment to returning capital to shareholders.

The Board of Directors authorized an additional $6.0 billion share repurchase program, demonstrating a continued commitment to returning capital to shareholders.

The company's CET1 ratio was 11.4% under the Standardized Approach and 11.5% under the Advanced Approaches, indicating a strong capital position and compliance with regulatory requirements.

The EU's Corporate Sustainability Due Diligence Directive will require BNY to comply with due diligence obligations for its operations and upstream chains, and to adopt a transition plan for climate change mitigation, indicating a focus on sustainability.

The company continues to invest in renewable energy projects, and has adopted new accounting guidance for these investments, indicating a commitment to sustainability.

The company has enhanced board diversity and implemented a new ESG oversight committee, indicating a commitment to strong governance practices.

Fee revenue in the Investment and Wealth Management business segment, and, to a lesser extent, the Securities Services and Market and Wealth Services business segments, is impacted by global market fluctuations, indicating sensitivity to market conditions.

Market and regulatory trends are driving investable assets toward lower fee asset management products at reduced margins for our clients, which is negatively impacting investment services fees.

The company is exposed to various geopolitical risks and economic conditions that may impact its business, highlighting the need for effective risk management.