Note 13 – Commitments and Contingencies In the normal course of business, the Corporation enters into a number of off-balance sheet commitments.
These commitments expose the Corporation to varying degrees of credit and market risk and are subject to the same credit and market risk limitation reviews as those instruments recorded on the Corporation’s Consolidated Balance Sheet.
Credit Extension Commitments The Corporation enters into commitments to extend credit such as loan commitments, SBLCs and commercial letters of credit to meet the financing needs of its customers.
The outstanding unfunded lending commitments shown in the following table have been reduced by amounts participated to other financial institutions of $30.5 billion and $30.4 billion at December 31, 2006 and 2005.
The carrying amount for these commitments, which represents the liability recorded related to these instruments, at December 31, 2006 and 2005 was $444 million and $458 million.
At December 31, 2006, the carrying amount included deferred revenue of $47 million and a reserve for unfunded lending commitments of $397 million.
At December 31, 2005, the carrying amount included deferred revenue of $63 million and a reserve for unfunded lending commitments of $395 million.
## Table 0 ##
(1) Included at December 31, 2006 and 2005, were equity commitments of $2.8 billion and $1.5 billion, related to obligations to further fund equity investments.
(2) As part of the MBNA merger on January 1, 2006, the Corporation acquired $588.4 billion of unused credit card lines.
Legally binding commitments to extend credit generally have specified rates and maturities.
Certain of these commitments have adverse change clauses that help to protect the Corporation against deterioration in the borrowers’ ability to pay.
The Corporation issues SBLCs and financial guarantees to support the obligations of its customers to beneficiaries.
Additionally, in many cases, the Corporation holds collateral in various forms against these SBLCs.
As part of its risk management activities, the Corporation continuously monitors the creditworthiness of the customer as well as SBLC exposure; however, if the customer fails to perform the specified obligation to the beneficiary, the beneficiary may draw upon the SBLC by presenting documents that are in compliance with the letter of credit terms.
In that event, the Corporation either repays the money borrowed or advanced, makes payment on account of the indebtedness of the customer or makes payment on account of the default by the customer in the performance of an obligation to the beneficiary up to the full notional amount of the SBLC.
The customer is obligated to reimburse the Corporation for any such payment.
If the customer fails to pay, the Corporation would, as contractually permitted, liquidate collateral and/or offset accounts.
Commercial letters of credit, issued primarily to facilitate customer trade finance activities, are usually collateralized by the underlying goods being shipped to the customer and are generally short-term.
Credit card lines are unsecured commitments that are not legally binding.
Management reviews credit card lines at least annually, and upon evaluation of the customers’ creditworthiness, the Corporation has the right to terminate or change certain terms of the credit card lines.
The Corporation uses various techniques to manage risk associated with these types of instruments that include obtaining collateral and/or adjusting commitment amounts based on the borrower’s financial condition; therefore, the total commitment amount does not necessarily represent the actual risk of loss or future cash requirements.
For each of these types of instruments, the Corporation’s maximum exposure to credit loss is represented by the contractual amount of these instruments.
Other Commitments At December 31, 2006 and 2005, charge cards (nonrevolving card lines) to individuals and government entities guaranteed by the U. S.  government in the amount of $9.6 billion and $9.4 billion were not included in credit card line commitments in the previous table.
The outstanding balances related to these charge cards were $193 million and $171 million at December 31, 2006 and 2005.
At December 31, 2006, the Corporation had whole mortgage loan purchase commitments of $8.5 billion, all of which will settle in the first quarter of 2007.
At December 31, 2005, the Corporation had whole mortgage loan purchase commitments of $4.0 billion, all of which settled in the first quarter of 2006.
The Corporation has entered into operating leases for certain of its premises and equipment.
Commitments under these leases approximate $1.4 billion in 2007, $1.3 billion in 2008, $1.1 billion in 2009, $931 million in 2010, $801 million in 2011, and $6.0 billion for all years thereafter.
In 2005, the Corporation entered into an agreement for the committed purchase of retail automotive loans over a five-year period ending June 30, 2010.
In 2005, the Corporation purchased $5.0 billion of such loans.
In 2006, the Corporation purchased $7.5 billion of such loans.
Under the agreement, the Corporation is committed to purchase up to $5.0 billion of such loans for the period July 1, 2006 through June 30, 2007 and up to $10.0 billion in each of the agreement’s next three fiscal years.
As of December 31, 2006, the remaining commitment amount was $32.5 billion.
Other Guarantees The Corporation sells products that offer book value protection primarily to plan sponsors of Employee Retirement Income Security Act of 1974 (ERISA) governed pension plans, such as 401(k) plans and 457 plans.
The book value protection is provided on portfolios of intermediate/short-term investment grade fixed income securities and is intended to cover any shortfall in the event that plan participants withdraw funds when market value is below book value.
The Corporation retains the option to exit the contract at any time.
If the Corporation exercises its option, the purchaser can require the Corporation to purchase zero coupon bonds with the proceeds of the liquidated assets to assure the return of principal.
To manage its exposure, the Corporation imposes significant restrictions and constraints on the timing of the withdrawals, the manner in which the portfolio is liquidated and the funds are accessed, and the investment parameters of the underlying portfolio.
These constraints, combined with structural protections, are designed to provide adequate buffers and guard against payments even under extreme stress scenarios.
These guarantees are booked as derivatives and marked to market in the trading portfolio.
At December 31, 2006 and 2005, the notional amount of these guarantees totaled $33.2 billion and $34.0 billion with estimated maturity dates between 2007 and 2036.
As of December 31, 2006 and 2005, the Corporation has not made a payment under these products, and management believes that the probability of payments under these guarantees is remote.
Table 6 Supplemental Financial Data and Reconciliations to GAAP Financial Measures
## Table 1 ##
n/m = not meaningful n/a = not applicable
RM&T Segment We do not attempt to qualify commodity derivative instruments used in our RM&T operations for hedge accounting.
As a result, we recognize all changes in the fair value of derivatives used in our RM&T operations in income, although most of these derivatives have an underlying physical commodity transaction.
Generally, derivative losses occur when market prices increase, which are offset by gains on the underlying physical commodity transactions.
Conversely, derivative gains occur when market prices decrease, which are offset by losses on the underlying physical commodity transactions.
Derivative gains or losses included in RM&T segment income for each of the last three years are summarized in the following table:
## Table 2 ##
During 2004, using derivative instruments MAP sold crack spreads forward through the fourth quarter 2005 at values higher than the company thought sustainable in the actual months these contracts expire.
Included in the $76 million derivative loss for 2004 noted in the above table for the ‘‘Protect crack spread values’’ strategy was approximately an $8 million gain due to changes in the fair value of crack-spread derivatives that will expire throughout 2005.
In addition, natural gas options are in place to manage the price risk associated with approximately 41 percent of the first quarter 2005 anticipated natural gas purchases for refinery use.
IG Segment We have used derivative instruments to convert the fixed price of a long-term gas sales contract to market prices.
The underlying physical contract is for a specified annual quantity of gas and matures in 2008.
Similarly, we will use derivative instruments to convert shorter term (typically less than a year) fixed price contracts to market prices in our ongoing purchase for resale activity; and to hedge purchased gas injected into storage for subsequent resale.
Derivative gains included in IG segment income were $17 million in 2004, compared to gains of $19 million in 2003 and losses of $8 million in 2002.
Trading activity in the IG segment resulted in losses of $2 million in 2004, compared to losses of $7 million in 2003 and gains of $4 million in 2002 and have been included in the aforementioned amounts.
Other Commodity Risk We are impacted by basis risk, caused by factors that affect the relationship between commodity futures prices reflected in derivative commodity instruments and the cash market price of the underlying commodity.
Natural gas transaction prices are frequently based on industry reference prices that may vary from prices experienced in local markets.
For example, New York Mercantile Exchange (‘‘NYMEX’’) contracts for natural gas are priced at Louisiana’s Henry Hub, while the underlying quantities of natural gas may be produced and sold in the western United States at prices that do not move in strict correlation with NYMEX prices.
If commodity price changes in one region are not reflected in other regions, derivative commodity instruments may no longer provide the expected hedge, resulting in increased exposure to basis risk.
These regional price differences could yield favorable or unfavorable results.
OTC transactions are being used to manage exposure to a portion of basis risk.
We are impacted by liquidity risk, caused by timing delays in liquidating contract positions due to a potential inability to identify a counterparty willing to accept an offsetting position.
Due to the large number of active participants, liquidity risk exposure is relatively low for exchange-traded transactions.

<table><tr><td></td><td colspan="2"> December 31</td></tr><tr><td>(Dollars in millions)</td><td> 2006</td><td>2005</td></tr><tr><td>Loan commitments<sup>-1</sup></td><td>$338,205</td><td>$271,906</td></tr><tr><td>Home equity lines of credit</td><td>98,200</td><td>78,626</td></tr><tr><td>Standby letters of credit and financial guarantees</td><td>53,006</td><td>48,129</td></tr><tr><td>Commercial letters of credit</td><td>4,482</td><td>5,972</td></tr><tr><td>Legally binding commitments</td><td>493,893</td><td>404,633</td></tr><tr><td>Credit card lines<sup>-2</sup></td><td>853,592</td><td>192,967</td></tr><tr><td> Total</td><td>$1,347,485</td><td>$597,600</td></tr></table>
<table><tr><td>(Dollars in millions)</td><td>2008</td><td>2007</td><td>2006</td><td>2005</td><td>2004</td></tr><tr><td> Operating basis</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Operating earnings</td><td>$4,638</td><td>$15,240</td><td>$21,640</td><td>$16,740</td><td>$14,358</td></tr><tr><td>Return on average assets</td><td>0.25%</td><td>0.95%</td><td>1.48%</td><td>1.32%</td><td>1.37%</td></tr><tr><td>Return on average common shareholders’ equity</td><td>2.25</td><td>11.27</td><td>16.66</td><td>16.79</td><td>16.96</td></tr><tr><td>Return on average tangible shareholders’ equity</td><td>6.14</td><td>26.38</td><td>40.00</td><td>32.84</td><td>31.89</td></tr><tr><td>Operating efficiency ratio (FTE basis)</td><td>54.88</td><td>54.12</td><td>47.28</td><td>48.73</td><td>51.35</td></tr><tr><td>Dividend payout ratio</td><td>n/m</td><td>71.02</td><td>44.59</td><td>45.84</td><td>44.98</td></tr><tr><td>Operating leverage (FTE basis)</td><td>-1.51</td><td>-13.40</td><td>3.80</td><td>5.74</td><td>n/a</td></tr><tr><td> FTE basis data</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Net interest income</td><td>$46,554</td><td>$36,190</td><td>$35,818</td><td>$31,569</td><td>$28,677</td></tr><tr><td>Total revenue, net of interest expense</td><td>73,976</td><td>68,582</td><td>74,000</td><td>58,007</td><td>51,406</td></tr><tr><td>Net interest yield</td><td>2.98%</td><td>2.60%</td><td>2.82%</td><td>2.84%</td><td>3.17%</td></tr><tr><td>Efficiency ratio</td><td>56.14</td><td>54.71</td><td>48.37</td><td>49.44</td><td>52.55</td></tr><tr><td> Reconciliation of net income to operating earnings</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Net income</td><td>$4,008</td><td>$14,982</td><td>$21,133</td><td>$16,465</td><td>$13,947</td></tr><tr><td>Merger and restructuring charges</td><td>935</td><td>410</td><td>805</td><td>412</td><td>618</td></tr><tr><td>Related income tax benefit</td><td>-305</td><td>-152</td><td>-298</td><td>-137</td><td>-207</td></tr><tr><td>Operating earnings</td><td>$4,638</td><td>$15,240</td><td>$21,640</td><td>$16,740</td><td>$14,358</td></tr><tr><td> Reconciliation of average shareholders’ equity to average tangible shareholders’ equity</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Average shareholders’ equity</td><td>$164,831</td><td>$136,662</td><td>$130,463</td><td>$99,861</td><td>$84,815</td></tr><tr><td>Average goodwill</td><td>-79,827</td><td>-69,333</td><td>-66,040</td><td>-45,331</td><td>-36,612</td></tr><tr><td>Average intangible assets</td><td>-9,502</td><td>-9,566</td><td>-10,324</td><td>-3,548</td><td>-3,184</td></tr><tr><td>Average tangible shareholders’ equity</td><td>$75,502</td><td>$57,763</td><td>$54,099</td><td>$50,982</td><td>$45,019</td></tr><tr><td> Reconciliation of return on average assets to operating return on average assets</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Return on average assets</td><td>0.22%</td><td>0.94%</td><td>1.44%</td><td>1.30%</td><td>1.34%</td></tr><tr><td>Effect of merger and restructuring charges, net-of-tax</td><td>0.03</td><td>0.01</td><td>0.04</td><td>0.02</td><td>0.03</td></tr><tr><td>Operating return on average assets</td><td>0.25%</td><td>0.95%</td><td>1.48%</td><td>1.32%</td><td>1.37%</td></tr><tr><td> Reconciliation of return on average common shareholders’ equity to operating return on average common shareholders’ equity</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Return on average common shareholders’ equity</td><td>1.80%</td><td>11.08%</td><td>16.27%</td><td>16.51%</td><td>16.47%</td></tr><tr><td>Effect of merger and restructuring charges, net-of-tax</td><td>0.45</td><td>0.19</td><td>0.39</td><td>0.28</td><td>0.49</td></tr><tr><td>Operating return on average common shareholders’ equity</td><td>2.25%</td><td>11.27%</td><td>16.66%</td><td>16.79%</td><td>16.96%</td></tr><tr><td> Reconciliation of return on average tangible shareholders’ equity to operating return on average tangible shareholders’ equity</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Return on average tangible shareholders’ equity</td><td>5.31%</td><td>25.94%</td><td>39.06%</td><td>32.30%</td><td>30.98%</td></tr><tr><td>Effect of merger and restructuring charges, net-of-tax</td><td>0.83</td><td>0.44</td><td>0.94</td><td>0.54</td><td>0.91</td></tr><tr><td>Operating return on average tangible shareholders’ equity</td><td>6.14%</td><td>26.38%</td><td>40.00%</td><td>32.84%</td><td>31.89%</td></tr><tr><td> Reconciliation of efficiency ratio to operating efficiency ratio (FTE basis)</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Efficiency ratio</td><td>56.14%</td><td>54.71%</td><td>48.37%</td><td>49.44%</td><td>52.55%</td></tr><tr><td>Effect of merger and restructuring charges</td><td>-1.26</td><td>-0.59</td><td>-1.09</td><td>-0.71</td><td>-1.20</td></tr><tr><td>Operating efficiency ratio</td><td>54.88%</td><td>54.12%</td><td>47.28%</td><td>48.73%</td><td>51.35%</td></tr><tr><td> Reconciliation of dividend payout ratio to operating dividend payout ratio</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Dividend payout ratio</td><td>n/m</td><td>72.26%</td><td>45.66%</td><td>46.61%</td><td>46.31%</td></tr><tr><td>Effect of merger and restructuring charges, net-of-tax</td><td>n/m</td><td>-1.24</td><td>-1.07</td><td>-0.77</td><td>-1.33</td></tr><tr><td>Operating dividend payout ratio</td><td>n/m</td><td>71.02%</td><td>44.59%</td><td>45.84%</td><td>44.98%</td></tr><tr><td> Reconciliation of operating leverage to operating basis operating leverage (FTE basis)</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Operating leverage</td><td>-2.81%</td><td>-12.16%</td><td>2.77%</td><td>6.67%</td><td>n/a</td></tr><tr><td>Effect of merger and restructuring charges</td><td>1.30</td><td>-1.24</td><td>1.03</td><td>-0.93</td><td>n/a</td></tr><tr><td>Operating leverage</td><td>-1.51%</td><td>-13.40%</td><td>3.80%</td><td>5.74%</td><td>n/a</td></tr></table>
<table><tr><td><i>Strategy (In Millions)</i></td><td>2004</td><td>2003</td><td>2002</td></tr><tr><td>Mitigate price risk</td><td>$-106</td><td>$-112</td><td>$-95</td></tr><tr><td>Protect carrying values of excess inventories</td><td>-98</td><td>-57</td><td>-41</td></tr><tr><td>Protect margin on fixed price sales</td><td>8</td><td>5</td><td>11</td></tr><tr><td>Protect crack spread values</td><td>-76</td><td>6</td><td>1</td></tr><tr><td>Trading activities</td><td>8</td><td>-4</td><td>–</td></tr><tr><td>Total net derivative losses</td><td>$-264</td><td>$-162</td><td>$-124</td></tr></table>

Question: In the year with the most Net interest income in table 1, what is the growth rate of Net income in table 1?
Answer: -0.73248