Provision for credit losses • lower net interchange income reflecting lower credit card sales volumes and debit card transactions as a result of the impact of the COVID-19 pandemic, largely offset by lower acquisition costs and higher annual fees in CCB, and • lower merchant processing fees in CIB predominantly driven by a reporting reclassification of certain expenses to be a reduction of revenue in Merchant Services. Refer to CCB and CIB segment results on pages 67–70 and pages 71–76, respectively, and Note 6 for further information. • Increased amortization on higher levels of alternative energy investments in CIB. The increased amortization was more than offset by lower income tax expense from the associated tax credits • lower net valuation gains on certain investments in AWM • net losses on certain equity investments in CIB, compared with net gains in the prior year • higher costs associated with using forward contracts to hedge certain non-U.S. dollar-denominated net investment exposures, and • higher losses related to the early termination of certain of the Firm's long-term debt in Treasury and CIO, • a net increase from a gain on an equity investment. • net additions of $7.4 billion to the allowance for credit losses, consisting of $6.6 billion for Card, $520 million for Auto, $252 million for Business Banking, • lower net charge-offs largely in Card, reflecting lower charge-offs and higher recoveries, primarily benefiting from payment assistance and government stimulus. Net interest income  decreased due to the impact of lower rates, predominantly offset by higher net interest income in CIB Markets, as well as balance sheet growth. The Firm’s average interest-earning assets were $2.8 trillion, up $434 billion, and the yield was 2.34%, down 127 basis points (“bps”), primarily due to lower rates. The net yield on these assets, on an FTE basis, was 1.98%, a decrease of 48 bps. The net yield excluding CIB Markets was 2.30%, down 97 bps. Net yield excluding CIB Markets is a non-GAAP financial measure. Refer to the Consolidated average balance sheets, interest and rates schedule on pages 300–304 for further details; and the Explanation and Reconciliation of the Firm’s Use of Non-GAAP Financial Measures on pages 62–64 for a further discussion of Net interest yield excluding CIB Markets. The prior year included a $244 million net reduction in the allowance for credit losses. The increase in  wholesale  reflected a net addition of $4.7 billion to the allowance for credit losses across the LOBs, impacting multiple industries. The  investment securities  provision for credit losses relates to the HTM portfolio, which became subject to the CECL accounting guidance beginning on January 1, 2020. Refer to the segment discussions of CCB on pages 67–70, CIB on pages 71–76, CB on pages 77–79, AWM on pages 80–82, the Allowance for Credit Losses on pages 132-133, and Notes 1, 10 and 13 for further discussion of the credit portfolio and the allowance for credit losses. 55 JPMorgan Chase & Co./2020 Form 10-K The  provision for credit losses increased in consumer and wholesale primarily driven by the deterioration and uncertainty in the macroeconomic environment, in particular in the first half of 2020, as a result of the impact of the COVID-19 pandemic. The increase in  consumer  reflected: partially offset by 2020 compared with 2019 Effective January 1, 2020, the Firm adopted the CECL accounting guidance. In conjunction with the adoption of CECL, the Firm reclassified risk-rated loans and lending-related commitments from the consumer, excluding credit card portfolio segment to the wholesale portfolio segment, to align with the methodology applied when determining the allowance. Prior-period amounts have been revised to conform with the current presentation. Refer to Note 1 for further information. partially offset by Other income  decreased reflecting: Card income  decreased due to: Year ended December 31, (in millions) 2020 2019 2018 Consumer, excluding credit card $ 1,016 $ (378) $ (119) Credit card 10,886 5,348  4,818  Total consumer 11,902 4,970  4,699  Wholesale 5,510 615  172  Investment securities 68 NA NA Total provision for credit losses $ 17,480 $ 5,585  $ 4,871 