Note 5 – Fair value option In February 2007, the FASB issued SFAS 159, which is effective for fiscal years beginning after November 15, 2007, with early adoption permitted.
The Firm chose early adoption for SFAS 159 effective January 1, 2007.
SFAS 159 provides an option to elect fair value as an alternative measurement for selected financial assets, financial liabilities, unrecognized firm commitments, and written loan commitments not previously carried at fair value.
The Firm’s fair value elections were intended to mitigate the volatility in earnings that had been created by recording financial instruments and the related risk management instruments on a different basis of accounting or to eliminate the operational complexities of applying hedge accounting.
The following table provides detail regarding the Firm’s elections by consolidated balance sheet line as of January 1, 2007.
## Table 0 ##
(a) Included in Other assets are items, such as receivables, that are eligible for the fair value option election but were not elected by the Firm as these assets are not managed on a fair value basis.
(b) Included within Deposits are structured deposits that are carried at fair value pursuant to the fair value option.
Other time deposits which are eligible for election, but are not managed on a fair value basis, continue to be carried on an accrual basis.
Demand deposits are not eligible for election under the fair value option.
(c) Included in the January 1, 2007, carrying values are certain financial instruments previously carried at fair value by the Firm such as structured liabilities elected pursuant to SFAS 155 and loans purchased as part of the Investment Bank’s trading activities.
(d) When fair value elections were made, certain financial instruments were reclassified on the Consolidated balance sheet (for example, warehouse loans were moved from Loans to Trading assets).
The transition adjustment for these financial instruments has been included in the line item in which they were classified subsequent to the fair value election.
Elections The following is a discussion of the primary financial instruments for which fair value elections were made and the basis for those elections: Loans and unfunded lending-related commitments On January 1, 2007, the Firm elected to record, at fair value, the following: ?
Loans and unfunded lending-related commitments that are extended as part of the Investment Bank’s principal investing activities.
The transition amount related to these loans included a reversal of the Allowance for loan losses of $56 million.  ?
Certain Loans held-for-sale.
These loans were reclassified to Trading assets – Debt and equity instruments.
This election enabled the Firm to record loans purchased as part of the Investment Bank’s commercial mortgage securitization activity and proprietary activities at fair value and discontinue SFAS 133 fair value hedge relationships for certain originated loans.
Beginning on January 1, 2007, the Firm chose to elect fair value as the measurement attribute for the following loans originated or purchased after that date: ?
Loans purchased or originated as part of the Investment Bank’s securitization warehousing activities ?
Prime mortgage loans originated with the intent to sell within Retail Financial Services (“RFS”) Warehouse loans elected to be reported at fair value are classified as Trading assets – Debt and equity instruments.
For additional information regarding warehouse loans, see Note 16 on pages 139–145 of this Annual Report.
The election to fair value the above loans did not include loans within these portfolios that existed on January 1, 2007, based upon the short holding period of the loans and/or the negligible impact of the elections.
Beginning in the third quarter of 2007, the Firm elected the fair value option for newly originated bridge financing activity in the Investment Bank (“IB”).
These elections were made to align further the accounting basis of the bridge financing activities with their related risk management practices.
For these activities the loans continue to be classified within Loans on the Consolidated balance sheet; the fair value of the unfunded commitments is recorded within Accounts payable, accrued expense and other liabilities.
Selected metrics Year ended December 31, (in millions, except headcount
## Table 1 ##
(a) Represents the total revenue related to investment banking products sold to CB clients.
(b) Loans held-for-sale and loans accounted for at fair value under SFAS 159 were excluded when calculating the allowance coverage ratio and the net charge-off rate.
(c) Liability balances include deposits and deposits swept to on–balance sheet liabilities such as Commercial paper,Federal funds purchased and repurchase agreemen Commercial Banking revenue comprises the following: Lending includes a variety of financing alternatives, which are primarily provided on a basis secured by receivables, inventory, equipment, real estate or other assets.
Products include: ?
Term loans ?
Revolving lines of credit ?
Bridge financing ?
Asset-based structures ?
Leases Treasury services includes a broad range of products and serv- ices enabling clients to transfer, invest and manage the receipt and disbursement of funds, while providing the related informa- tion reporting.
These products and services include: ?
U. S.  dollar and multi-currency clearing ?
ACH ?
Lockbox ?
Disbursement and reconciliation services ?
Check deposits ?
Other check and currency-related services ?
Trade finance and logistics solutions ?
Commercial card ?
Deposit products, sweeps and money market mutual funds Investment banking provides clients with sophisticated capi- tal-raising alternatives, as well as balance sheet and risk manage- ment tools, through: ?
Advisory ?
Equity underwriting ?
Loan syndications ?
Investment-grade debt ?
Asset-backed securities ?
Private placements ?
High-yield bonds ?
Derivatives ?
Foreign exchange hedges ?
Securities sales
Note 13 – Securities financing activities JPMorgan Chase enters into resale agreements, repurchase agreements, securities borrowed transactions and securities loaned transactions (collectively, “securities financing agreements”) primarily to finance the Firm’s inventory positions, acquire securities to cover short positions, accommodate customers’ financing needs, and settle other securities obligations.
Securities financing agreements are treated as collateralized financings on the Firm’s Consolidated Balance Sheets.
Resale and repurchase agreements are generally carried at the amounts at which the securities will be subsequently sold or repurchased, plus accrued interest.
Securities borrowed and securities loaned transactions are generally carried at the amount of cash collateral advanced or received.
Where appropriate under applicable accounting guidance, resale and repurchase agreements with the same counterparty are reported on a net basis.
Fees received or paid in connection with securities financing agreements are recorded in interest income or interest expense.
The Firm has elected the fair value option for certain securities financing agreements.
For a further discussion of the fair value option, see Note 4 on pages 187–189 of this Annual Report.
The securities financing agreements for which the fair value option has been elected are reported within securities purchased under resale agreements; securities loaned or sold under repurchase agreements; and securities borrowed on the Consolidated Balance Sheets.
Generally, for agreements carried at fair value, current-period interest accruals are recorded within interest income and interest expense, with changes in fair value reported in principal transactions revenue.
However, for financial instruments containing embedded derivatives that would be separately accounted for in accordance with accounting guidance for hybrid instruments, all changes in fair value, including any interest elements, are reported in principal transactions revenue.
The following table details the Firm’s securities financing agreements, all of which are accounted for as collateralized financings during the periods presented.
## Table 2 ##
(a) Includes resale agreements of $20.3 billion and $20.5 billion accounted for at fair value at December 31, 2010 and 2009, respectively.
(b) Includes securities borrowed of $14.0 billion and $7.0 billion accounted for at fair value at December 31, 2010 and 2009, respectively.
(c) Includes repurchase agreements of $4.1 billion and $3.4 billion accounted for at fair value at December 31, 2010 and 2009, respectively.
The amounts reported in the table above have been reduced by $112.7 billion and $121.2 billion at December 31, 2010 and 2009, respectively, as a result of agreements in effect that meet the specified conditions for net presentation under applicable accounting guidance.
JPMorgan Chase’s policy is to take possession, where possible, of securities purchased under resale agreements and of securities borrowed.
The Firm monitors the market value of the underlying securities that it has received from its counterparties and either requests additional collateral or returns a portion of the collateral when appropriate in light of the market value of the underlying securities.
Margin levels are established initially based upon the counterparty and type of collateral and monitored on an ongoing basis to protect against declines in collateral value in the event of default.
JPMorgan Chase typically enters into master netting agreements and other collateral arrangements with its resale agreement and securities borrowed counterparties, which provide for the right to liquidate the purchased or borrowed securities in the event of a customer default.
As a result of the Firm’s credit risk mitigation practices described above on resale and securities borrowed agreements, the Firm did not hold any reserves for credit impairment on these agreements as of December 31, 2010 and 2009.
For a further discussion of assets pledged and collateral received in securities financing agreements see Note 31 on pages 280– 281 of this Annual Report.

<table><tr><td>(in millions)</td><td>Carrying value of financial instruments as of January 1, 2007 (c)</td><td>Transition gain/(loss) recorded in Retained earnings (d)</td><td>Adjusted carrying value of financial instruments as of January 1, 2007</td></tr><tr><td>Federal funds sold and securities purchased under resale agreements</td><td>$12,970</td><td>$-21</td><td>$12,949</td></tr><tr><td>Trading assets – Debt and equity instruments</td><td>28,841</td><td>32</td><td>28,873</td></tr><tr><td>Loans</td><td>759</td><td>55</td><td>814</td></tr><tr><td>Other assets<sup>(a)</sup></td><td>1,176</td><td>14</td><td>1,190</td></tr><tr><td>Deposits<sup>(b)</sup></td><td>-4,427</td><td>21</td><td>-4,406</td></tr><tr><td>Federal funds purchased and securities sold under repurchase agreements</td><td>-6,325</td><td>20</td><td>-6,305</td></tr><tr><td>Other borrowed funds</td><td>-5,502</td><td>-4</td><td>-5,506</td></tr><tr><td>Beneficial interests issued by consolidated VIEs</td><td>-2,339</td><td>5</td><td>-2,334</td></tr><tr><td>Long-term debt</td><td>-39,025</td><td>198</td><td>-38,827</td></tr><tr><td> Pretax cumulative effect of adoption of SFAS 159</td><td></td><td>320</td><td></td></tr><tr><td>Deferred income taxes</td><td></td><td>-122</td><td></td></tr><tr><td>Reclassification from Accumulated other comprehensive income (loss)</td><td></td><td>1</td><td></td></tr><tr><td> Cumulative effect of adoption of SFAS 159</td><td></td><td>$199</td><td></td></tr></table>
<table><tr><td>Year ended December 31,(inmillions, except headcount and ratios)</td><td>2007</td><td>2006</td><td>2005</td><td></td></tr><tr><td> Revenue by product:</td><td></td><td></td><td></td><td></td></tr><tr><td>Lending</td><td>$1,419</td><td>$1,344</td><td>$1,215</td><td></td></tr><tr><td>Treasury services</td><td>2,350</td><td>2,243</td><td>2,062</td><td></td></tr><tr><td>Investment banking</td><td>292</td><td>253</td><td>206</td><td></td></tr><tr><td>Other</td><td>42</td><td>-40</td><td>5</td><td></td></tr><tr><td> Total Commercial Banking revenue</td><td>$4,103</td><td>$3,800</td><td>$3,488</td><td></td></tr><tr><td> IB revenue, gross<sup>(a)</sup></td><td>$888</td><td>$716</td><td>$552</td><td></td></tr><tr><td> Revenue by business:</td><td></td><td></td><td></td><td></td></tr><tr><td>Middle Market Banking</td><td>$2,689</td><td>$2,535</td><td>$2,358</td><td></td></tr><tr><td>Mid-Corporate Banking</td><td>815</td><td>656</td><td>551</td><td></td></tr><tr><td>Real Estate Banking</td><td>421</td><td>458</td><td>434</td><td></td></tr><tr><td>Other</td><td>178</td><td>151</td><td>145</td><td></td></tr><tr><td> Total Commercial Banking revenue</td><td>$4,103</td><td>$3,800</td><td>$3,488</td><td></td></tr><tr><td> Selected average balances:</td><td></td><td></td><td></td><td></td></tr><tr><td>Total assets</td><td>$87,140</td><td>$57,754</td><td>$52,358</td><td></td></tr><tr><td>Loans:</td><td></td><td></td><td></td><td></td></tr><tr><td>Loans retained</td><td>60,231</td><td>53,154</td><td>47,834</td><td></td></tr><tr><td>Loans held-for-sale and loans at fair value</td><td>863</td><td>442</td><td>283</td><td></td></tr><tr><td>Total loans<sup>(b)</sup></td><td>61,094</td><td>53,596</td><td>48,117</td><td></td></tr><tr><td>Liability balances<sup>(c)</sup></td><td>87,726</td><td>73,613</td><td>66,055</td><td></td></tr><tr><td>Equity</td><td>6,502</td><td>5,702</td><td>3,400</td><td></td></tr><tr><td> Average loans by business:</td><td></td><td></td><td></td><td></td></tr><tr><td>Middle Market Banking</td><td>$37,333</td><td>$33,225</td><td>$31,193</td><td></td></tr><tr><td>Mid-Corporate Banking</td><td>12,481</td><td>8,632</td><td>6,388</td><td></td></tr><tr><td>Real Estate Banking</td><td>7,116</td><td>7,566</td><td>6,909</td><td></td></tr><tr><td>Other</td><td>4,164</td><td>4,173</td><td>3,627</td><td></td></tr><tr><td> Total Commercial Banking loans</td><td>$61,094</td><td>$53,596</td><td>$48,117</td><td></td></tr><tr><td> Headcount</td><td>4,125#</td><td>4,459#</td><td>4,418</td><td>#</td></tr><tr><td> Credit data and quality statistics:</td><td></td><td></td><td></td><td></td></tr><tr><td>Net charge-offs</td><td>$44</td><td>$27</td><td>$26</td><td></td></tr><tr><td>Nonperforming loans</td><td>146</td><td>121</td><td>272</td><td></td></tr><tr><td>Allowance for credit losses:</td><td></td><td></td><td></td><td></td></tr><tr><td>Allowance for loan losses</td><td>1,695</td><td>1,519</td><td>1,392</td><td></td></tr><tr><td>Allowance for lending-related commitments</td><td>236</td><td>187</td><td>154</td><td></td></tr><tr><td>Total allowance for credit losses</td><td>1,931</td><td>1,706</td><td>1,546</td><td></td></tr><tr><td>Net charge-off rate<sup>(b)</sup></td><td>0.07%</td><td>0.05%</td><td>0.05%</td><td></td></tr><tr><td>Allowance for loan losses to average loans<sup>(b)</sup></td><td>2.81</td><td>2.86</td><td>2.91</td><td></td></tr><tr><td>Allowance for loan losses to nonperforming loans</td><td>1,161</td><td>1,255</td><td>512</td><td></td></tr><tr><td>Nonperforming loans to average loans</td><td>0.24</td><td>0.23</td><td>0.57</td><td></td></tr></table>
<table><tr><td>December 31, (in millions)</td><td>2010</td><td>2009</td></tr><tr><td>Securities purchased under resale agreements<sup>(a)</sup></td><td>$222,302</td><td>$195,328</td></tr><tr><td>Securities borrowed<sup>(b)</sup></td><td>123,587</td><td>119,630</td></tr><tr><td>Securities sold under repurchase agreements<sup>(c)</sup></td><td>$262,722</td><td>$245,692</td></tr><tr><td>Securities loaned</td><td>10,592</td><td>7,835</td></tr></table>

Question: What is the growing rate of Total assets in the year with the most Total Commercial Banking revenue?
Answer: 0.50881