Total revenue for the year ended December 31, 2008 increased $219 million, or 5%, to $5,064 million, compared with $4,845 million for the year ended December 31, 2007.
The $219 million increase was primarily the result of a $208 million increase in BlackRock Solutions and advisory revenue and a $49 million increase in total investment advisory and administration fees, partially offset by a $54 million decrease in other revenue.
Investment Advisory and Administration Fees The increase in investment advisory and administration fees of $49 million, or 1%, was the result of an increase in investment advisory and administration base fees of $222 million, or 6%, to $4,232 million for the year ended December 31, 2008, compared with $4,010 million for the year ended December 31, 2007, partially offset by a decrease of $173 million in investment advisory performance fees.
The increase in investment advisory and administration base fees of $222 million for the year ended December 31, 2008, compared with the year ended December 31, 2007, consisted of increases in base fees of $188 million in cash management products and $160 million in alternative investment products, partially offset by decreases of $117 million in equity and balanced products and $9 million in fixed income products.
Investment advisory and administration base fees increased for the year ended December 31, 2008 primarily as a result of increased average AUM in 2008 compared to 2007 for cash management products due to net subscriptions and alternative investment products due to the full year impact of the Quellos Transaction, offset by lower fees in equity and balanced products due to the impact of market depreciation on AUM.
Investment advisory performance fees decreased by $173 million, or 49%, to $177 million for the year ended December 31, 2008, as compared to $350 million for the year ended December 31, 2007 primarily as a result of lower investment advisory performance fees earned on other alternative investment products, including real estate funds, fixed income hedge funds and international equity products.
BlackRock Solutions and Advisory BlackRock Solutions and advisory revenue of $406 million for the year ended December 31, 2008 increased $208 million, or 105%, compared with the year ended December 31, 2007.
The increase in BlackRock Solutions and advisory revenue was primarily the result of additional advisory assignments and Aladdin?
assignments during the period.
A portion of the revenue earned on advisory assignments was comprised of one-time advisory and portfolio structuring fees and ongoing fees based on AUM of the respective portfolio assignments.
Distribution Fees Distribution fees increased by $16 million to $139 million for the year ended December 31, 2008, as compared to $123 million for the year ended December 31, 2007.
The increase in distribution fees is primarily due to the fullyear impact of the acquisition of distribution financing arrangements from PNC in second quarter 2007, which resulted in the Company receiving distribution fees from such arrangements, as well as an increase in contingent deferred sales commissions as a result of redemptions in certain share classes of open-ended funds.
Other Revenue Other revenue of $110 million for the year ended December 31, 2008 decreased $54 million, or 32%, compared with the year ended December 31, 2007.
Other revenue represents property management fees of $31 million earned on real estate products (primarily related to reimbursement of salaries and benefits of certain Metric employees from certain real estate products), $25 million of net interest related to securities lending, $23 million of unit trust sales commissions and $31 million of other revenue, including fund accounting services.
The decrease in other revenue of $54 million for the year ended December 31, 2008, as compared to the year ended December 31, 2007, was primarily the result of a decrease in fees earned for fund accounting services of $16 million, a $14 million decline in other advisory service fees earned in 2007, a $12 million decline in unit trust sales commissions and a $7 million decline in property management fees primarily related to the termination in the fourth quarter of 2008 of certain Metric contracts with BlackRock real estate clients.
Certain Metric employees have been transferred to a third party, which will provide to real estate clients the property management services formerly provided by Metric.
At December 31, 2008, Metric had no remaining employees.
## Table 0 ##
future payments that will not be paid because of an early redemption, which is discounted at a fixed spread over a comparable Treasury security.
The unamortized discount and debt issuance costs are being amortized over the remaining term of the 2022 Notes.2021 Notes.
In May 2011, the Company issued $1.5 billion in aggregate principal amount of unsecured unsubordinated obligations.
These notes were issued as two separate series of senior debt securities, including $750 million of 4.25% notes maturing in May 2021 and $750 million of floating rate notes, which were repaid in May 2013 at maturity.
Net proceeds of this offering were used to fund the repurchase of BlackRock’s Series B Preferred from affiliates of Merrill Lynch & Co. , Inc.  Interest on the 4.25% notes due in 2021 (“2021 Notes”) is payable semi-annually on May 24 and November 24 of each year, which commenced November 24, 2011, and is approximately $32 million per year.
The 2021 Notes may be redeemed prior to maturity at any time in whole or in part at the option of the Company at a “make-whole” redemption price.
The unamortized discount and debt issuance costs are being amortized over the remaining term of the 2021 Notes.2019 Notes.
In December 2009, the Company issued $2.5 billion in aggregate principal amount of unsecured and unsubordinated obligations.
These notes were issued as three separate series of senior debt securities including $0.5 billion of 2.25% notes, which were repaid in December 2012, $1.0 billion of 3.50% notes, which were repaid in December 2014 at maturity, and $1.0 billion of 5.0% notes maturing in December 2019 (the “2019 Notes”).
Net proceeds of this offering were used to repay borrowings under the CP Program, which was used to finance a portion of the acquisition of Barclays Global Investors from Barclays on December 1, 2009, and for general corporate purposes.
Interest on the 2019 Notes of approximately $50 million per year is payable semi-annually in arrears on June 10 and December 10 of each year.
These notes may be redeemed prior to maturity at any time in whole or in part at the option of the Company at a “make-whole” redemption price.
The unamortized discount and debt issuance costs are being amortized over the remaining term of the 2019 Notes.2017 Notes.
In September 2007, the Company issued $700 million in aggregate principal amount of 6.25% senior unsecured and unsubordinated notes maturing on September 15, 2017 (the “2017 Notes”).
A portion of the net proceeds of the 2017 Notes was used to fund the initial cash payment for the acquisition of the fund-of-funds business of Quellos and the remainder was used for general corporate purposes.
Interest is payable semi-annually in arrears on March 15 and September 15 of each year, or approximately $44 million per year.
The 2017 Notes may be redeemed prior to maturity at any time in whole or in part at the option of the Company at a “make-whole” redemption price.
The unamortized discount and debt issuance costs are being amortized over the remaining term of the 2017 Notes.13.
Commitments and Contingencies Operating Lease Commitments The Company leases its primary office spaces under agreements that expire through 2035.
Future minimum commitments under these operating leases are as follows:
## Table 1 ##
Rent expense and certain office equipment expense under lease agreements amounted to $134 million, $136 million and $132 million in 2016, 2015 and 2014, respectively.
Investment Commitments.
At December 31, 2016, the Company had $192 million of various capital commitments to fund sponsored investment funds, including consolidated VIEs.
These funds include private equity funds, real assets funds, and opportunistic funds.
This amount excludes additional commitments made by consolidated funds of funds to underlying third-party funds as third-party noncontrolling interest holders have the legal obligation to fund the respective commitments of such funds of funds.
In addition to the capital commitments of $192 million, the Company had approximately $12 million of contingent commitments for certain funds which have investment periods that have expired.
Generally, the timing of the funding of these commitments is unknown and the commitments are callable on demand at any time prior to the expiration of the commitment.
These unfunded commitments are not recorded on the consolidated statements of financial condition.
These commitments do not include potential future commitments approved by the Company that are not yet legally binding.
The Company intends to make additional capital commitments from time to time to fund additional investment products for, and with, its clients.
Contingencies Contingent Payments Related to Business Acquisitions.
In connection with certain acquisitions, BlackRock is required to make contingent payments, subject to achieving specified performance targets, which may include revenue related to acquired contracts or new capital commitments for certain products.
The fair value of the remaining aggregate contingent payments at December 31, 2016 totaled $115 million and is included in other liabilities on the consolidated statement of financial condition.
Other Contingent Payments.
The Company acts as the portfolio manager in a series of derivative transactions and has a maximum potential exposure of $17 million between the Company and counterparty.
See Note 7, Derivatives and Hedging, for further discussion.
Legal Proceedings.
From time to time, BlackRock receives subpoenas or other requests for information from various U. S.  federal, state governmental and domestic and international regulatory authorities in connection with
Valuation adjustments are primarily recorded in other non-interest expense; adjustments are also recorded as a charge to the allowance for loan losses if incurred within 60 days after the date of transfer from loans.
Valuation adjustments are primarily post-foreclosure write-downs that are a result of continued declining property values based on updated appraisals or other indications of value, such as offers to purchase.
Foreclosed property sold represents the net book value of the properties sold.
Other Assets Other assets decreased $675 million to $8.7 billion as of December 31, 2011.
Securities sold but not yet settled near the end of 2010 primarily drove the decrease.
Reduced foreclosed properties, deferred tax and prepaid expense balances also contributed to the year-over-year decrease.
The decreases were partially offset by increased derivative asset balances.
Deposits Regions competes with other banking and financial services companies for a share of the deposit market.
Regions’ ability to compete in the deposit market depends heavily on the pricing of its deposits and how effectively the Company meets customers’ needs.
Regions employs various means to meet those needs and enhance competitiveness, such as providing a high level of customer service, competitive pricing and providing convenient branch locations for its customers.
Regions also serves customers through providing centralized, high-quality banking services and alternative product delivery channels such as internet banking.
Deposits are Regions’ primary source of funds, providing funding for 85 percent of average interest-earning assets from continuing operations in 2011 and 82 percent of average interest-earning assets from continuing operations in 2010.
Table 23 “Deposits” details year-over-year deposits on a period-ending basis.
Total deposits as of year-end 2011 increased $1.0 billion, or 1 percent, compared to year-end 2010.
The overall increase in deposits was primarily driven by an increase in non-interest-bearing demand accounts and interest-bearing transaction accounts.
These increases were partially offset by decreases in domestic money market accounts and time deposits.
Regions continues to manage and deepen existing customer relationships, as well as develop new relationships through client acquisition and new checking products.
Customer deposits, which exclude deposits used for wholesale funding purposes, increased by 1 percent to $95.6 billion on an ending basis during 2011.
An increase in interest-bearing transaction accounts was the main source of the increase, combined with an increase in non-interest-bearing demand accounts.
A decrease in domestic money market accounts partially offset these increases.
Due to liquidity in the market, Regions has been able to steadily grow its low-cost customer deposits and reduce its total deposit costs from 1.35 percent in 2009 to 0.78 percent in 2010 and to 0.49 percent in 2011.
Table 23—Deposits
## Table 2 ##

<table><tr><td></td><td colspan="2"> Year ended  December 31,</td><td colspan="2">Variance</td></tr><tr><td> <i>(Dollar amounts in millions)</i></td><td> 2008</td><td> 2007</td><td>Amount%</td><td></td></tr><tr><td> Expenses:</td><td></td><td></td><td></td><td></td></tr><tr><td>Employee compensation and benefits</td><td>$1,815</td><td>$1,767</td><td>$48</td><td>3%</td></tr><tr><td>Portfolio administration and servicing costs</td><td>597</td><td>548</td><td>49</td><td>9%</td></tr><tr><td>Amortization of deferred mutual fund sales commissions</td><td>130</td><td>108</td><td>22</td><td>20%</td></tr><tr><td>General and administration</td><td>745</td><td>870</td><td>-125</td><td>-14%</td></tr><tr><td>Restructuring charges</td><td>38</td><td>—</td><td>38</td><td>NM</td></tr><tr><td>Termination of closed-end fund administration and servicing arrangements</td><td>—</td><td>128</td><td>-128</td><td>-100%</td></tr><tr><td>Amortization of intangible assets</td><td>146</td><td>130</td><td>16</td><td>12%</td></tr><tr><td>Total expenses</td><td>$3,471</td><td>$3,551</td><td>$-80</td><td>-2%</td></tr></table>
<table><tr><td>Year</td><td>Amount</td></tr><tr><td>2017</td><td>142</td></tr><tr><td>2018</td><td>135</td></tr><tr><td>2019</td><td>125</td></tr><tr><td>2020</td><td>120</td></tr><tr><td>2021</td><td>112</td></tr><tr><td>Thereafter</td><td>404</td></tr><tr><td>Total</td><td>$1,038</td></tr></table>
<table><tr><td></td><td> 2011</td><td> 2010</td><td> 2009</td></tr><tr><td></td><td colspan="3"> (In millions)</td></tr><tr><td>Non-interest-bearing demand</td><td>$28,266</td><td>$25,733</td><td>$23,204</td></tr><tr><td>Savings accounts</td><td>5,159</td><td>4,668</td><td>4,073</td></tr><tr><td>Interest-bearing transaction accounts</td><td>19,388</td><td>13,423</td><td>15,791</td></tr><tr><td>Money market accounts—domestic</td><td>23,053</td><td>27,420</td><td>23,291</td></tr><tr><td>Money market accounts—foreign</td><td>378</td><td>569</td><td>766</td></tr><tr><td>Low-cost deposits</td><td>76,244</td><td>71,813</td><td>67,125</td></tr><tr><td>Time deposits</td><td>19,378</td><td>22,784</td><td>31,468</td></tr><tr><td>Customer deposits</td><td>95,622</td><td>94,597</td><td>98,593</td></tr><tr><td>Corporate treasury time deposits</td><td>5</td><td>17</td><td>87</td></tr><tr><td></td><td>$95,627</td><td>$94,614</td><td>$98,680</td></tr></table>

Question: What's the current increasing rate of Employee compensation and benefits?
Answer: 0.02716