The fair value of securities accepted as collateral that we are permitted by contract or custom to sell or repledge was $1.6 billion at December 31, 2008 and $2.3 billion at December 31, 2007 and is a component of federal funds sold and resale agreements on our Consolidated Balance Sheet.
Of the permitted amount, $461 million was repledged to others at December 31, 2008 and $1.5 billion was repledged to others at December 31, 2007.
The following table presents, by remaining contractual maturity, the amortized cost, fair value and weighted-average yield of debt securities at December 31, 2008.
Contractual Maturity Of Debt Securities
## Table 0 ##
Based on current interest rates and expected prepayment speeds, the total weighted-average expected maturity of mortgage-backed securities was 2 years and 9 months, of commercial mortgage-backed securities was 4 years and 5 months and of asset-backed securities was 4 years and 11 months at December 31, 2008.
Weighted-average yields are based on historical cost with effective yields weighted for the contractual maturity of each security.
At December 31, 2008, there were no securities of a single issuer, other than Fannie Mae and Freddie Mac, which exceeded 10% of total shareholders’ equity NOTE 8 FAIR VALUE Fair Value Measurement SFAS 157 defines fair value as the price that would be received to sell an asset or the price paid to transfer a liability on the measurement date.
The standard focuses on the exit price in the principal or most advantageous market for the asset or liability in an orderly transaction between willing market participants.
SFAS 157 establishes a fair value reporting hierarchy to maximize the use of observable inputs when measuring fair value and defines the three levels of inputs as noted below.
The financial instruments in Level 3 are typically less liquid.
Level 1 Quoted prices in active markets for identical assets or liabilities.
Level 1 assets and liabilities may include debt securities, equity securities and listed derivative contracts that are traded in an active exchange market and certain US Government and agency-backed securities that are actively traded in over-the-counter markets.
Level 2 Observable inputs other than Level 1 such as: quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, or other inputs that are observable or can be corroborated to observable market data for substantially the full term of the asset or liability.
Level 2 assets and liabilities may include debt securities, equity securities and listed derivative contracts with quoted prices that are traded in markets that are not active, and certain debt and equity securities and over-the-counter derivative contracts whose fair value is determined using a pricing model without significant unobservable inputs.
This category generally includes certain mortgage-backed debt securities, private-issuer securities, other asset-backed securities, corporate debt securities and derivative contracts.
a disposition strategy that results in the highest recovery on a net present value basis, thus protecting the interests of the trust and its investors.
See Note 9 Goodwill and Other Intangible Assets for additional information regarding servicing assets.
With our acquisition of National City on December 31, 2008, we acquired residual and other interests associated with National City’s credit card, automobile, mortgage, and SBA loans securitizations.
In addition, we also assumed certain continuing involvement activities in these securitization transactions.
The credit card, automobile, and mortgage securitizations were transacted through QSPEs sponsored by National City.
These QSPEs were financed primarily through the issuance and sale of beneficial interests to independent third parties and were not consolidated on National City’s balance sheet.
Consolidation of these QSPEs could be considered if circumstances or events subsequent to the securitization transaction dates would cause the entities to lose their “qualified” status.
No such events have occurred.
Qualitative and quantitative information about these securitizations follows.
The following summarizes the assets and liabilities of the National City-sponsored securitization QSPEs at December 31, 2008.
## Table 1 ##
(a) Represents period-end outstanding principal balances of loans transferred to the securitization QSPEs.
Credit Card Loans At December 31, 2008, National City’s credit card securitization series 2005-1, 2006-1, 2007-1, 2008-1, 2008-2, and 2008-3 were outstanding.
Our continuing involvement in the securitized credit cards receivables consists primarily of servicing and a pro-rata undivided interest in all credit card receivables, or seller’s interest, in the QSPE.
Servicing fees earned approximate current market rates for servicing fees; therefore, no servicing asset or liability existed at December 31, 2008.
We hold a clean-up call repurchase option to the extent a securitization series extends past its scheduled note principal payoff date.
To the extent this occurs, the clean-up call option is triggered when the principal balance of the asset-backed notes of any series reaches 5% of the initial principal balance of the asset-back notes issued at the securitization date.
Our seller’s interest ranks equally with the investors’ interests in the trust.
As the amount of the assets in the securitized pool fluctuates due to customer payments, purchases, cash advances, and credit losses, the carrying amount of the seller’s interest will vary.
However, we are required to maintain seller’s interest at a minimum level of 5% of the initial invested amount in each series to ensure sufficient assets are available for allocation to the investors’ interests.
Seller’s interest, which is recognized in portfolio loans on the Consolidated Balance Sheet, was well above the minimum level at December 31, 2008.
Retained interests acquired consisted of seller’s interest, an interest-only strip, and asset-backed securities issued by the credit card securitization QSPE.
The initial carrying values of these retained interests were determined based upon their fair values at December 31, 2008.
Seller’s interest is recognized in portfolio loans on the Consolidated Balance Sheet and totaled approximately $315 million at December 31, 2008.
The interest-only strips are recognized in other assets on the Consolidated Balance Sheet and totaled approximately $20 million at December 31, 2008.
The asset-backed securities are recognized in investment securities on the Consolidated Balance Sheet and totaled approximately $25 million at December 31, 2008.
These retained interests represent the maximum exposure to loss associated with our involvement in this securitization.
Automobile Loans At December 31, 2008, National City’s auto securitization 2005-A was outstanding.
Our continuing involvement in the securitized automobile loans consists primarily of servicing and limited requirements to repurchase transferred loans for breaches of representations and warranties.
As servicer, we hold a cleanup call on the serviced loans which gives us an option to repurchase the transferred loans when their outstanding principal balances reach 5% of the initial outstanding principal balance of the automobile loans securitized.
The Class A notes issued by National City’s 2005-A auto securitization were purchased by a third-party commercial paper conduit.
National City’s subsidiary, National City Bank, along with other financial institutions, agreed to provide backup liquidity to the conduit.
The conduit holds various third-party assets including beneficial interests in the cash flows of trade receivables, credit cards and other financial assets.
The conduit has no interests in subprime mortgage loans.
The conduit relies upon commercial paper for its funding.
In the event of a disruption in the commercial paper markets, the conduit could experience a liquidity event.
At such time, the conduit may require National City Bank to purchase a 49% interest in a note representing a beneficial interest in National City’s securitized automobile loans.
Another financial institution, affiliated with the conduit, has committed to purchase the remaining 51% interest in this same note.
Upon the conduit’s request, National City Bank would pay cash equal to the par value of the notes, less the corresponding portion of all defaulted loans, plus accrued interest.
In return, National City Bank would be entitled to undivided interest in the cash flows of the collateral underlying the note.
National City Bank receives an annual commitment fee of 7 basis points for providing this backup
PNC’s Tier 1 risk-based capital ratio was 9.7% at December 31, 2008 compared with 6.8% at December 31, 2007.
The increase in the ratio from December 31, 2007 included the issuance of Tier 1 eligible securities during the first half of 2008 totaling $1.3 billion, including REIT preferred, noncumulative perpetual preferred, and trust preferred securities.
The “Perpetual Trust Securities” and “PNC Capital Trust E Trust Preferred Securities” portions of the Off-Balance Sheet Arrangements and VIEs section of this Item 7 and Note 19 Shareholders’ Equity in Item 8 of this Report have additional information regarding these securities.
In addition, $7.6 billion of preferred stock and a common stock warrant was issued to the US Department of the Treasury under the TARP Capital Purchase Program on December 31, 2008.
Tier 1 risk-based capital further increased as a result of $5.6 billion of common stock issued in the National City acquisition and PNC’s assumption of $2.6 billion of Tier 1 qualifying capital securities previously issued by National City.
These increases in capital were partially offset by the deduction of higher acquisition-related intangible assets.
The positive effect on the Tier 1 ratio of the net increase in capital was somewhat offset by an increase in riskweighted assets primarily related to acquisitions, including National City.
The leverage ratio at December 31, 2008 reflected the favorable impact on Tier 1 risk-based capital from the issuance of securities under TARP and the issuance of PNC common stock in connection with the National City acquisition, both of which occurred on December 31, 2008.
In addition, the ratio as of that date did not reflect any impact of National City on PNC’s adjusted average total assets.
PNC’s tangible common equity ratio was 2.9% at December 31, 2008 compared with 4.7% at December 31, 2007.
The decrease in the ratio from the prior year was the result of the decline in the value of the securities available for sale portfolio and the value of assets in our pension plan.
We expect PNC’s tangible common equity ratio to be less sensitive to the impact of widening credit spreads on accumulated other comprehensive loss going forward primarily due to the composition of the securities available for sale portfolio acquired from National City and a substantially higher level of common equity in the combined company.
The access to, and cost of, funding new business initiatives including acquisitions, the ability to engage in expanded business activities, the ability to pay dividends, the level of deposit insurance costs, and the level and nature of regulatory oversight depend, in part, on a financial institution’s capital strength.
At December 31, 2008 and December 31, 2007, each of our domestic bank subsidiaries was considered “well capitalized” based on US regulatory capital ratio requirements.
See the Supervision And Regulation section of Item 1 of this Report and Note 23 Regulatory Matters in the Notes To Consolidated Financial Statements in Item 8 of this Report for additional information.
We believe our bank subsidiaries will continue to meet these requirements in 2009.
OFF-BALANCE SHEET ARRANGEMENTS AND VIES We engage in a variety of activities that involve unconsolidated entities or that are otherwise not reflected in our Consolidated Balance Sheet that are generally referred to as “off-balance sheet arrangements.
” The following sections of this Report provide further information on these types of activities: ?
Commitments, including contractual obligations and other commitments, included within the Risk Management section of this Item 7, and ?
Note 10 Securitization Activity and Note 25 Commitments and Guarantees in the Notes To Consolidated Financial Statements included in Item 8 of this Report.
The following provides a summary of variable interest entities (“VIEs”), including those that we have consolidated and those in which we hold a significant variable interest but have not consolidated into our financial statements as of December 31, 2008 and December 31, 2007.
Consolidated VIEs – PNC Is Primary Beneficiary
## Table 2 ##
(a) Amounts for December 31, 2008 include National City, which PNC acquired on that date.
(b) National City-related transaction.

<table><tr><td>December 31, 2008Dollars in millions</td><td>1 Year or Less</td><td>After 1 Year through 5 Years</td><td>After 5 Years through 10 Years</td><td>After 10 Years</td><td>Total</td><td></td></tr><tr><td> SECURITIESAVAILABLEFORSALE</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>US Treasury and government agencies</td><td>$83</td><td>$84</td><td>$552</td><td>$19</td><td>$738</td><td> </td></tr><tr><td>Residential mortgage-backed</td><td>758</td><td>9,890</td><td>1,397</td><td>23,904</td><td>35,949</td><td> </td></tr><tr><td>Commercial mortgage-backed</td><td></td><td>37</td><td>52</td><td>4,217</td><td>4,306</td><td> </td></tr><tr><td>Asset-backed</td><td>22</td><td>92</td><td>488</td><td>1,467</td><td>2,069</td><td> </td></tr><tr><td>State and municipal</td><td>100</td><td>226</td><td>186</td><td>813</td><td>1,325</td><td> </td></tr><tr><td>Other debt</td><td>7</td><td>464</td><td>59</td><td>33</td><td>563</td><td> </td></tr><tr><td>Total debt securities available for sale</td><td>$970</td><td>$10,793</td><td>$2,734</td><td>$30,453</td><td>$44,950</td><td> </td></tr><tr><td>Fair value</td><td>$971</td><td>$10,789</td><td>$2,702</td><td>$25,109</td><td>$39,571</td><td> </td></tr><tr><td>Weighted-average yield, GAAP basis</td><td>6.09%</td><td>5.02%</td><td>6.06%</td><td>5.53%</td><td>5.45</td><td> %</td></tr><tr><td> SECURITIESHELDTOMATURITY</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Commercial mortgage-backed</td><td></td><td>$130</td><td>$66</td><td>$1,749</td><td>$1,945</td><td> </td></tr><tr><td>Asset-backed</td><td>$43</td><td>789</td><td>395</td><td>149</td><td>1,376</td><td> </td></tr><tr><td>Other debt</td><td></td><td></td><td>1</td><td>9</td><td>10</td><td> </td></tr><tr><td>Total debt securities held to maturity</td><td>$43</td><td>$919</td><td>$462</td><td>$1,907</td><td>$3,331</td><td> </td></tr><tr><td>Fair value</td><td>$42</td><td>$907</td><td>$455</td><td>$1,860</td><td>$3,264</td><td> </td></tr><tr><td>Weighted-average yield, GAAP basis</td><td>5.35%</td><td>5.00%</td><td>4.27%</td><td>5.20%</td><td>5.02</td><td> %</td></tr></table>
<table><tr><td>(In millions)</td><td>Credit Card</td><td>Automobile</td><td>Mortgage</td></tr><tr><td>Assets (a)</td><td>$2,129</td><td>$250</td><td>$319</td></tr><tr><td>Liabilities</td><td>1,824</td><td>250</td><td>319</td></tr></table>
<table><tr><td>In millions</td><td>AggregateAssets</td><td>Aggregate Liabilities</td><td>PNC Risk of Loss</td><td></td></tr><tr><td> December 31, 2008</td><td></td><td></td><td></td><td></td></tr><tr><td>Market Street</td><td>$4,916</td><td>$5,010</td><td>$6,965</td><td> (a)</td></tr><tr><td>Collateralized debt obligations</td><td>20</td><td></td><td>2</td><td> </td></tr><tr><td>Partnership interests in tax credit investments (b) (c) (d)</td><td>1,095</td><td>652</td><td>920</td><td> </td></tr><tr><td>Total (c)</td><td>$6,031</td><td>$5,662</td><td>$7,887</td><td> </td></tr><tr><td>December 31, 2007</td><td></td><td></td><td></td><td></td></tr><tr><td>Market Street</td><td>$5,304</td><td>$5,330</td><td>$9,019(a)</td><td></td></tr><tr><td>Collateralized debt obligations</td><td>255</td><td>177</td><td>6</td><td></td></tr><tr><td>Partnership interests in low income housing projects</td><td>298</td><td>184</td><td>155</td><td></td></tr><tr><td>Total</td><td>$5,857</td><td>$5,691</td><td>$9,180</td><td></td></tr></table>

Question: What's the sum of Market Street of PNC Risk of Loss, Fair value of After 1 Year through 5 Years, and Total debt securities held to maturity SECURITIESHELDTOMATURITY of After 10 Years ?
Answer: 19661.0