s of the level our regulators define as well-capitalized.
The continued generation of additional risk-based and Tier I capital is a positive indicator that the regulatory capital in E*TRADE Bank is sufficient to meet its operating needs.
Consolidated Cash and Equivalents The consolidated cash and equivalents balance decreased by $0.3 billion to $2.1 billion for the year ended December 31, 2011.
The majority of this balance is cash held in regulated subsidiaries, primarily the Bank, outlined as follows (dollars in millions):
## Table 0 ##
Corporate cash is the primary source of liquidity at the parent company.
We define corporate cash as cash held at the parent company as well as cash held in certain subsidiaries that can distribute cash to the parent company without any regulatory approval.
We believe corporate cash is a useful measure of the parent company’s liquidity as it is the primary source of capital above and beyond the capital deployed in our regulated subsidiaries.
Corporate cash can fluctuate in any given quarter and is impacted primarily by tax settlements, approval and timing of subsidiary dividends, debt service costs and other overhead cost sharing arrangements.
We target corporate cash to be two times our annual debt service, or approximately $330 million.
From the level of corporate cash at December 31, 2011, we expect that it will decline generally in line with our corporate interest expense.
However, the parent company has approximately $0.5 billion in deferred tax assets, which will ultimately become sources of corporate cash as the parent’s subsidiaries reimburse the parent for the use of its deferred tax assets.
Liquidity Available from Subsidiaries Liquidity available to the Company from its subsidiaries is limited by regulatory requirements.
In addition, neither E*TRADE Bank nor its subsidiaries may pay dividends to the parent company without approval from its regulators.
Loans by E*TRADE Bank to the parent company and its other non-bank subsidiaries are subject to various quantitative, arm’s length, collateralization and other requirements.
E*TRADE Bank is subject to capital requirements determined by its regulator.
At December 31, 2011 and 2010, E*TRADE Bank had $1.2 billion and $1.0 billion, respectively, of Tier I capital in excess of the regulatory minimum level required to be considered “well capitalized.
” Since late 2009, the Company has requested and received the approval of its primary regulators to send quarterly dividends from E*TRADE Bank to the parent.
The dividend had been equal to profits from the previous quarter of E*TRADE Securities LLC.
We believe our former regulator, the OTS, viewed these dividend requests as distinct from a more comprehensive request to release a portion of E*TRADE Bank’s excess capital.
During the third quarter of 2011, the Company transitioned regulators from the OTS to the OCC and the Federal Reserve.
We believe our new regulators would subject all dividend requests to an equal level of scrutiny; therefore, rather than request a dividend from E*TRADE Bank in an amount equal to the profits of E*TRADE Securities LLC in the prior quarter, we believe the best path for the Company’s shareholders is to work on a comprehensive dividend plan that efficiently distributes capital among our regulated entities and parent company.
The Company is in dialogue with the regulators regarding our ability to implement a comprehensive dividend plan and expects to complete that dialogue by the end of 2012.
Following the completion of that dialogue, we expect to have a better understanding of the timing of any future dividends; however, we cannot predict the likelihood or the timing of regulatory approval for any such dividends.
The Company’s broker-dealer subsidiaries are subject to capital requirements determined by their respective regulators.
At December 31, 2011 and 2010, all of our brokerage subsidiaries met their minimum net capital
During the year ended December 31, 2013, the allowance for loan losses decreased by $27.7 million from the level at December 31, 2012, driven primarily by improving economic conditions and loan portfolio run-off.
During the year ended December 31, 2013, we evaluated and refined our default assumptions related to a subset of the home equity line of credit portfolio that will require borrowers to repay the loan in full at the end of the draw period, commonly referred to as “balloon loans”.
These loans were approximately $235 million of the home equity line of credit portfolio at December 31, 2013.
We evaluated the significant burden a balloon payment may place on a borrower with a low FICO score and high CLTV ratio, and the estimates around the time period that it might take for these borrowers’ equity positions in their collateral to appreciate in order to allow for possible refinance of the balloon loan at maturity.
As a result of this evaluation of the higher risk balloon loans, we increased our default assumptions and extended the period of management’s forecasted loan losses captured within the general allowance to include the total probable loss on these loans.
The overall impact of these refinements drove the substantial majority of provision for loan losses during the year ended December 31, 2013.
The following table shows the trend of the ratio of the general allowance for loan losses, excluding the qualitative component, to loans that are 90+ days delinquent excluding modified TDRs (dollars in millions)
## Table 1 ##
Troubled Debt Restructurings TDRs include loan modifications completed under our programs that involve granting an economic concession to a borrower experiencing financial difficulty, as well as loans that have been charged-off based on the estimated current value of the underlying property less estimated selling costs due to bankruptcy notification.
At December 31, 2013, we had $189.0 million net investment of TDRs that had been charged-off due to bankruptcy notification, $105.5 million of which were classified as performing The following table shows the TDRs by delinquency category at December 31, 2013 and 2012 (dollars in millions)
## Table 2 ##
TDRs on accrual status, which are current and have made six or more consecutive payments, were $950.0 million and $981.4 million at December 31, 2013 and 2012, respectively.
## Table 3 ##
Average interest-earning assets increased 6% to $43.3 billion for the year ended December 31, 2016, compared to the same period in 2015.
The fluctuation in interest-earning assets is generally driven by changes in interest-bearing liabilities, primarily deposits and customer payables.
Average interest-bearing liabilities increased 6% to $41.3 billion for the year ended December 31, 2016, compared to the same period in 2015.
The increase was primarily due to increased deposits as a result of transferring customer cash held by third parties to our balance sheet, partially offset by the termination of our legacy wholesale funding obligations during 2015.
For additional information on our balance sheet growth and customer cash held by third parties, see Balance Sheet Overview.
Net interest margin increased 15 basis points to 2.65% for the year ended December 31, 2016, compared to the same period in 2015.
Net interest margin is driven by the mix of asset and liability average balances and the interest rates earned or paid on those balances.
The increase was primarily due to lower borrowing costs resulting from the termination of legacy wholesale funding obligations during 2015.
The increase was partially offset by lower rates earned on reinvesting funds in securities as our legacy loan portfolio continues to pay down.
Margin balances also decreased 16% for the year ended December 31, 2016, compared to the same period in 2015; however, the impact of the margin receivables decrease was partially offset by increased rates earned on margin due to the increase in market interest rates and changes in customer mix.
Average interest-earning assets decreased 2% to $41.0 billion for the year ended December 31, 2015, compared to the same period in 2014.
Average interest-bearing liabilities decreased 3% to $38.9 billion for the year ended December 31, 2015, compared to the same period in 2014.
Net interest margin increased 20 basis points to 2.50% for the year ended December 31, 2015, compared to the same period in 2014.
The increase was primarily due to lower borrowing costs resulting from the termination of legacy wholesale funding obligations and the refinancing and reduction of corporate debt during 2015.
Commissions Commissions revenue increased 4% to $442 million for the year ended December 31, 2016, compared to the same period in 2015.
The main factors that affect commissions revenue are DARTs, average commission per trade and the number of trading days.
DARTs volume increased 6% to 164,134 for the year ended December 31, 2016, compared to the same period in 2015, mainly driven by increased trading activity related to OptionsHouse.
Derivative DARTs represented 26% of trading volume for the year ended December 31, 2016, compared to 24% of trading volume for the same period in 2015.
Average commission per trade decreased 1% to $10.70 for the year ended December 31, 2016, compared to the same period in 2015.
Average commission per trade is impacted by customer mix, differing commission rates on various trade types (e. g.  equities, derivatives, stock plan and mutual funds), and the lower price structure for OptionsHouse customers.
Commissions revenue decreased 7% to $424 million for the year ended December 31, 2015, compared to the same period in 2014.
DART volume decreased 8% to 155,470 for the year ended December 31, 2015, compared to the same period in 2014.
Derivative DARTs as a percentage of total DARTs represented 24% of trading volume for both the years ended December 31, 2015 and 2014.
Average commission per trade increased slightly to $10.86 for the year ended December 31, 2015 from $10.81 for the same period in 2014.
exchanged installment notes totaling approximately $4.8 billion and approximately $400 million of International Paper promissory notes for interests in entities formed to monetize the notes.
International Paper determined that it was not the primary beneficiary of these entities, and therefore should not consolidate its investments in these entities.
During 2006, these entities acquired an additional $4.8 billion of International Paper debt securities for cash, resulting in a total of approximately $5.2 billion of International Paper debt obligations held by these entities at December 31, 2006.
Since International Paper has, and intends to affect, a legal right to offset its obligations under these debt instruments with its investments in the entities, International Paper has offset $5.0 billion of interest in the entities against $5.0 billion of International Paper debt obligations held by the entities as of December 31, 2007.  International Paper also holds variable interests in two financing entities that were used to monetize long-term notes received from sales of forestlands in 2002 and 2001.
See Note 8 of the Notes to Consolidated Financial Statements in Item 8.
Financial Statements and Supplementary Data for a further discussion of these transactions.
Capital Resources Outlook for 2008 International Paper expects to be able to meet projected capital expenditures, service existing debt and meet working capital and dividend requirements during 2008 through current cash balances and cash from operations, supplemented as required by its various existing credit facilities.
International Paper has approximately $2.5 billion of committed bank credit agreements, which management believes is adequate to cover expected operating cash flow variability during our industry’s economic cycles.
The agreements generally provide for interest rates at a floating rate index plus a pre-determined margin dependent upon International Paper’s credit rating.
The agreements include a $1.5 billion fully committed revolving bank credit agreement that expires in March 2011 and has a facility fee of 0.10% payable quarterly.
These agreements also include up to $1.0 billion of available commercial paper-based financings under a receivables securitization program that expires in October 2009 with a facility fee of 0.10%.
At December 31, 2007, there were no borrowings under either the bank credit agreements or receivables securitization program.
The Company will continue to rely upon debt and capital markets for the majority of any necessary long-term funding not provided by operating cash flows.
Funding decisions will be guided by our capital structure planning objectives.
The primary goals of the Company’s capital structure planning are to maximize financial flexibility and preserve liquidity while reducing interest expense.
The majority of International Paper’s debt is accessed through global public capital markets where we have a wide base of investors.
The Company was in compliance with all its debt covenants at December 31, 2007.
Principal financial covenants include maintenance of a minimum net worth, defined as the sum of common stock, paid-in capital and retained earnings, less treasury stock, plus any goodwill impairment charges, of $9 billion; and a maximum total debt to capital ratio, defined as total debt divided by total debt plus net worth, of 60%.
Maintaining an investment grade credit rating is an important element of International Paper’s financing strategy.
At December 31, 2007, the Company held long-term credit ratings of BBB (stable outlook) and Baa3 (stable outlook) by Standard & Poor’s (S&P) and Moody’s Investor Services (Moody’s), respectively.
The Company currently has short-term credit ratings by S&P and Moody’s of A-2 and P-3, respectively.
Contractual obligations for future payments under existing debt and lease commitments and purchase obligations at December 31, 2007, were as follows:

<table><tr><td></td><td colspan="2"> December 31,</td><td rowspan="2">Variance 2011 vs. 2010</td></tr><tr><td></td><td> 2011</td><td> 2010</td></tr><tr><td>Corporate cash</td><td>$484.4</td><td>$470.5</td><td>$13.9</td></tr><tr><td>Bank cash</td><td>1,574.1</td><td>1,812.1</td><td>-238.0</td></tr><tr><td>International brokerage and other cash</td><td>41.3</td><td>91.7</td><td>-50.4</td></tr><tr><td>Total consolidated cash</td><td>$2,099.8</td><td>$2,374.3</td><td>$-274.5</td></tr></table>
<table><tr><td></td><td> Total 90+ Days Delinquent Loans, Excluding Modified TDRs</td><td> General Allowance for Loan Losses Before Qualitative Component</td><td> Coverage Ratio</td></tr><tr><td>December 31, 2013</td><td>$234.7</td><td>$266.3</td><td>113%</td></tr><tr><td>September 30, 2013</td><td>$247.0</td><td>$272.0</td><td>110%</td></tr><tr><td>June 30, 2013</td><td>$272.8</td><td>$257.6</td><td>94%</td></tr><tr><td>March 31, 2013</td><td>$310.0</td><td>$247.3</td><td>80%</td></tr><tr><td>December 31, 2012</td><td>$348.7</td><td>$265.2</td><td>76%</td></tr></table>
<table><tr><td></td><td> TDRs  Current</td><td> TDRs 30-89  Days  Delinquent</td><td> TDRs 90-179  Days  Delinquent</td><td> TDRs 180+  Days  Delinquent</td><td> Total Recorded  Investment in  TDRs</td></tr><tr><td> December 31, 2013</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>One- to four-family</td><td>$901.4</td><td>$101.7</td><td>$43.8</td><td>$125.6</td><td>$1,172.5</td></tr><tr><td>Home equity</td><td>197.6</td><td>17.3</td><td>7.3</td><td>18.8</td><td>241.0</td></tr><tr><td>Total</td><td>$1,099.0</td><td>$119.0</td><td>$51.1</td><td>$144.4</td><td>$1,413.5</td></tr><tr><td> December 31, 2012</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>One- to four-family</td><td>$927.6</td><td>$118.8</td><td>$48.6</td><td>$134.1</td><td>$1,229.1</td></tr><tr><td>Home equity</td><td>231.9</td><td>17.6</td><td>7.9</td><td>19.6</td><td>277.0</td></tr><tr><td>Total</td><td>$1,159.5</td><td>$136.4</td><td>$56.5</td><td>$153.7</td><td>$1,506.1</td></tr></table>
<table><tr><td></td><td colspan="3">Year Ended December 31,</td></tr><tr><td></td><td>2016</td><td>2015</td><td>2014</td></tr><tr><td>Ratio of interest-earning assets to interest-bearing liabilities</td><td>104.90%</td><td>105.24%</td><td>104.46%</td></tr><tr><td>Return on average:</td><td></td><td></td><td></td></tr><tr><td>Total assets</td><td>1.15%</td><td>0.59%</td><td>0.64%</td></tr><tr><td>Total shareholders’ equity</td><td>9.30%</td><td>4.75%</td><td>5.69%</td></tr><tr><td>Average total shareholders’ equity to average total assets</td><td>12.32%</td><td>12.44%</td><td>11.26%</td></tr></table>

Question: What is the growing rate of General Allowance for Loan Losses Before Qualitative Component in the year with the least Total 90+ Days Delinquent Loans, Excluding Modified TDRs?
Answer: 0.00415