The following table presents the weighted-average asset allocation of the fair values of total plan assets at December 31 for the years indicated, as well as the respective approved asset allocation ranges by asset class.
## Table 0 ##
(a) Represents the U. S.  defined benefit pension plan only, as that is the most significant plan.
(b) Debt securities primarily includes cash and cash equivalents, corporate debt, U. S.  federal, state, local and non-U.
S.  government, and mortgage-backed securities.
(c) Alternatives primarily include limited partnerships.
(d) Represents the U. S.  OPEB plan only, as the U. K.  OPEB plan is unfunded.
Fair value measurement of the plans’ assets and liabilities For information on fair value measurements, including descriptions of level 1, 2, and 3 of the fair value hierarchy and the valuation methods employed by the Firm, refer to Note 2.
Pension and OPEB plan assets and liabilities measured at fair value
## Table 1 ##
(a) At December 31, 2018 and 2017, collective investment funds primarily included a mix of short-term investment funds, U. S.  and non-U.
S.  equity investments (including index) and real estate funds.
(b) Unfunded commitments to purchase limited partnership investments for the plans were $521 million and $605 million for 2018 and 2017, respectively.
(c) Corporate debt securities include debt securities of U. S.  and non-U.
S.  corporations.
(d) Other consists primarily of mutual funds, money market funds and participating and non-participating annuity contracts.
Mutual funds and money market funds are primarily classified within level 1 of the fair value hierarchy given they are valued using market observable prices.
Participating and non-participating annuity contracts are classified within level 3 of the fair value hierarchy due to a lack of market mechanisms for transferring each policy and surrender restrictions.
(e) At December 31, 2018 and 2017, excludes $5.0 billion and $4.4 billion of certain investments that are measured at fair value using the net asset value per share (or its equivalent) as a practical expedient, which are not required to be classified in the fair value hierarchy, $340 million and $377 million of defined benefit pension plan receivables for investments sold and dividends and interest receivables, $479 million and $561 million of defined benefit pension plan payables for investments purchased, and $24 million and $26 million of other liabilities, respectively.
The assets of the U. S.  OPEB plan consisted of $561 million and $600 million in corporate debt securities, U. S.  federal, state, local and non-U.
S.  government debt securities and other classified in level 1 and level 2 of the valuation hierarchy and in cash and cash equivalents classified in level 1 of the valuation hierarchy and $2.1 billion and $2.2 billion of COLI policies classified in level 3 of the valuation hierarchy at December 31, 2018 and 2017, respectively
Notes to consolidated financial statements 224 JPMorgan Chase & Co. /2018 Form 10-K Consumer, excluding credit card, loan portfolio Consumer loans, excluding credit card loans, consist primarily of residential mortgages, home equity loans and lines of credit, auto loans and consumer and business banking loans, with a focus on serving the prime consumer credit market.
The portfolio also includes home equity loans secured by junior liens, prime mortgage loans with an interest-only payment period, and certain payment-option loans that may result in negative amortization.
The following table provides information about retained consumer loans, excluding credit card, by class.
In 2017, the Firm sold its student loan portfolio.
## Table 2 ##
Delinquency rates are a primary credit quality indicator for consumer loans.
Loans that are more than 30 days past due provide an early warning of borrowers who may be experiencing financial difficulties and/or who may be unable or unwilling to repay the loan.
As the loan continues to age, it becomes more clear whether the borrower is likely either unable or unwilling to pay.
In the case of residential real estate loans, late-stage delinquencies (greater than 150 days past due) are a strong indicator of loans that will ultimately result in a foreclosure or similar liquidation transaction.
In addition to delinquency rates, other credit quality indicators for consumer loans vary based on the class of loan, as follows: ?
For residential real estate loans, including both non-PCI and PCI portfolios, the current estimated LTV ratio, or the combined LTV ratio in the case of junior lien loans, is an indicator of the potential loss severity in the event of default.
Additionally, LTV or combined LTV ratios can provide insight into a borrower’s continued willingness to pay, as the delinquency rate of high-LTV loans tends to be greater than that for loans where the borrower has equity in the collateral.
The geographic distribution of the loan collateral also provides insight as to the credit quality of the portfolio, as factors such as the regional economy, home price changes and specific events such as natural disasters, will affect credit quality.
The borrower’s current or “refreshed” FICO score is a secondary credit-quality indicator for certain loans, as FICO scores are an indication of the borrower’s credit payment history.
Thus, a loan to a borrower with a low FICO score (less than 660 ) is considered to be of higher risk than a loan to a borrower with a higher FICO score.
Further, a loan to a borrower with a high LTV ratio and a low FICO score is at greater risk of default than a loan to a borrower that has both a high LTV ratio and a high FICO score.  ?
For scored auto and scored business banking loans, geographic distribution is an indicator of the credit performance of the portfolio.
Similar to residential real estate loans, geographic distribution provides insights into the portfolio performance based on regional economic activity and events.  ?
Risk-rated business banking and auto loans are similar to wholesale loans in that the primary credit quality indicators are the risk rating that is assigned to the loan and whether the loans are considered to be criticized and/or nonaccrual.
Risk ratings are reviewed on a regular and ongoing basis by Credit Risk Management and are adjusted as necessary for updated information about borrowers’ ability to fulfill their obligations.
For further information about risk-rated wholesale loan credit quality indicators, refer to page 236 of this Note.
Notes to consolidated financial statements 264 JPMorgan Chase & Co. /2018 Form 10-K Note 24 – Income taxes JPMorgan Chase and its eligible subsidiaries file a consolidated U. S.  federal income tax return.
JPMorgan Chase uses the asset and liability method to provide income taxes on all transactions recorded in the Consolidated Financial Statements.
This method requires that income taxes reflect the expected future tax consequences of temporary differences between the carrying amounts of assets or liabilities for book and tax purposes.
Accordingly, a deferred tax asset or liability for each temporary difference is determined based on the tax rates that the Firm expects to be in effect when the underlying items of income and expense are realized.
JPMorgan Chase’s expense for income taxes includes the current and deferred portions of that expense.
A valuation allowance is established to reduce deferred tax assets to the amount the Firm expects to realize.
Due to the inherent complexities arising from the nature of the Firm’s businesses, and from conducting business and being taxed in a substantial number of jurisdictions, significant judgments and estimates are required to be made.
Agreement of tax liabilities between JPMorgan Chase and the many tax jurisdictions in which the Firm files tax returns may not be finalized for several years.
Thus, the Firm’s final tax-related assets and liabilities may ultimately be different from those currently reported.
Effective tax rate and expense A reconciliation of the applicable statutory U. S.  federal income tax rate to the effective tax rate for each of the years ended December 31, 2018, 2017 and 2016, is presented in the following table.
## Table 3 ##
(a) Predominantly includes earnings of U. K.  subsidiaries that were deemed to be reinvested indefinitely through December 31, 2017.
Impact of the TCJA 2018 The Firm’s effective tax rate decreased in 2018 due to the TCJA, including the reduction in the U. S.  federal statutory income tax rate as well as a $302 million net tax benefit recorded in 2018 resulting from changes in the estimates related to the remeasurement of certain deferred taxes and the deemed repatriation tax on non-U.
S.  earnings.
The change in estimate was recorded under SEC Staff Accounting Bulletin No.118 (“SAB 118”) and the accounting under SAB 118 is complete.2017 The Firm’s effective tax rate increased in 2017 driven by a $1.9 billion income tax expense representing the estimated impact of the enactment of the TCJA.
The $1.9 billion tax expense was predominantly driven by a deemed repatriation of the Firm’s unremitted non-U.
S.  earnings and adjustments to the value of certain tax-oriented investments partially offset by a benefit from the revaluation of the Firm’s net deferred tax liability.
The deemed repatriation of the Firm’s unremitted non-U.
S.  earnings is based on the post-1986 earnings and profits of each controlled foreign corporation.
The calculation resulted in an estimated income tax expense of $3.7 billion.
Furthermore, accounting for income taxes requires the remeasurement of certain deferred tax assets and liabilities based on the rates at which they are expected to reverse in the future.
The Firm remeasured its deferred tax asset and liability balances in the fourth quarter of 2017 to the new statutory U. S.  federal income tax rate of 21% as well as any federal benefit associated with state and local deferred income taxes.
The remeasurement resulted in an estimated income tax benefit of $2.1 billion.
Adjustments were also recorded in 2017 to income tax expense for certain tax-oriented investments.
These adjustments were driven by changes to affordable housing proportional amortization resulting from the reduction of the federal income tax rate under the TCJA.
SAB 118 did not apply to these adjustments.
Management’s discussion and analysis 58 JPMorgan Chase & Co. /2018 Form 10-K Net interest income and net yield excluding CIB’s Markets businesses In addition to reviewing net interest income and the net interest yield on a managed basis, management also reviews these metrics excluding CIB’s Markets businesses, as shown below; these metrics, which exclude CIB’s Markets businesses, are non-GAAP financial measures.
Management reviews these metrics to assess the performance of the Firm’s lending, investing (including asset-liability management) and deposit-raising activities.
The resulting metrics that exclude CIB’s Markets businesses are referred to as non-markets-related net interest income and net yield.
CIB’s Markets businesses are Fixed Income Markets and Equity Markets.
Management believes that disclosure of non-markets-related net interest income and net yield provides investors and analysts with other measures by which to analyze the non-markets-related business trends of the Firm and provides a comparable measure to other financial institutions that are primarily focused on lending, investing and deposit-raising activities.
## Table 4 ##
(a) Interest includes the effect of related hedges.
Taxable-equivalent amounts are used where applicable.
(b) For a reconciliation of net interest income on a reported and managed basis, refer to reconciliation from the Firm’s reported U. S.  GAAP results to managed basis on page 57.
(c) For further information on CIB’s Markets businesses, refer to page 69.
The Firm also reviews adjusted expense, which is noninterest expense excluding Firmwide legal expense and is therefore a non-GAAP financial measure.
Additionally, certain credit metrics and ratios disclosed by the Firm exclude PCI loans, and are therefore non-GAAP measures.
Management believes these measures help investors understand the effect of these items on reported results and provide an alternate presentation of the Firm’s performance.
For additional information on credit metrics and ratios excluding PCI loans, refer to Credit and Investment Risk Management on pages 102-123.

<table><tr><td colspan="4">Defined benefit pension plans<sup>(a)</sup></td><td colspan="3">OPEB plan<sup>(d)</sup></td></tr><tr><td></td><td>Asset</td><td colspan="2">% of plan assets</td><td>Asset</td><td colspan="2">% of plan assets</td></tr><tr><td>December 31,</td><td>Allocation</td><td>2018</td><td>2017</td><td>Allocation</td><td>2018</td><td>2017</td></tr><tr><td colspan="2">Asset class</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Debt securities<sup>(b)</sup></td><td>27-100%</td><td>48%</td><td>42%</td><td>30-70%</td><td>61%</td><td>61%</td></tr><tr><td>Equity securities</td><td>10-45</td><td>37</td><td>42</td><td>30-70</td><td>39</td><td>39</td></tr><tr><td>Real estate</td><td>0-10</td><td>2</td><td>3</td><td>—</td><td>—</td><td>—</td></tr><tr><td>Alternatives<sup>(c)</sup></td><td>0-35</td><td>13</td><td>13</td><td>—</td><td>—</td><td>—</td></tr><tr><td>Total</td><td>100%</td><td>100%</td><td>100%</td><td>100%</td><td>100%</td><td>100%</td></tr></table>
<table><tr><td></td><td colspan="8">Defined benefit pension plans</td></tr><tr><td></td><td colspan="4">2018</td><td colspan="4">2017</td></tr><tr><td>December 31,(in millions)</td><td>Level 1</td><td>Level 2</td><td>Level 3</td><td>Total fair value</td><td>Level 1</td><td>Level 2</td><td>Level 3</td><td>Total fair value</td></tr><tr><td>Cash and cash equivalents</td><td>$343</td><td>$1</td><td>$—</td><td>$344</td><td>$173</td><td>$1</td><td>$—</td><td>$174</td></tr><tr><td>Equity securities</td><td>5,342</td><td>162</td><td>2</td><td>5,506</td><td>6,407</td><td>194</td><td>2</td><td>6,603</td></tr><tr><td>Mutual funds</td><td>—</td><td>—</td><td>—</td><td>—</td><td>325</td><td>—</td><td>—</td><td>325</td></tr><tr><td>Collective investment funds<sup>(a)</sup></td><td>161</td><td>—</td><td>—</td><td>161</td><td>778</td><td>—</td><td>—</td><td>778</td></tr><tr><td>Limited partnerships<sup>(b)</sup></td><td>40</td><td>—</td><td>—</td><td>40</td><td>60</td><td>—</td><td>—</td><td>60</td></tr><tr><td>Corporate debt securities<sup>(c)</sup></td><td>—</td><td>3,540</td><td>3</td><td>3,543</td><td>—</td><td>2,644</td><td>4</td><td>2,648</td></tr><tr><td>U.S. federal, state, local and non-U.S. government debt securities</td><td>1,191</td><td>743</td><td>—</td><td>1,934</td><td>1,096</td><td>784</td><td>—</td><td>1,880</td></tr><tr><td>Mortgage-backed securities</td><td>82</td><td>272</td><td>3</td><td>357</td><td>92</td><td>100</td><td>2</td><td>194</td></tr><tr><td>Derivative receivables</td><td>—</td><td>143</td><td>—</td><td>143</td><td>—</td><td>203</td><td>—</td><td>203</td></tr><tr><td>Other<sup>(d)</sup></td><td>885</td><td>80</td><td>302</td><td>1,267</td><td>2,353</td><td>60</td><td>302</td><td>2,715</td></tr><tr><td>Total assets measured at fair value<sup>(e)</sup></td><td>$8,044</td><td>$4,941</td><td>$310</td><td>$13,295</td><td>$11,284</td><td>$3,986</td><td>$310</td><td>$15,580</td></tr><tr><td>Derivative payables</td><td>$—</td><td>$- 96</td><td>$—</td><td>$- 96</td><td>$—</td><td>$- 141</td><td>$—</td><td>$- 141</td></tr><tr><td>Total liabilities measured at fair value<sup>(e)</sup></td><td>$—</td><td>$- 96</td><td>$—</td><td>$- 96</td><td>$—</td><td>$- 141</td><td>$—</td><td>$- 141</td></tr></table>
<table><tr><td>December 31, (in millions)</td><td>2018</td><td>2017</td></tr><tr><td>Residential real estate – excluding PCI</td><td></td><td></td></tr><tr><td>Residential mortgage</td><td>$231,078</td><td>$216,496</td></tr><tr><td>Home equity</td><td>28,340</td><td>33,450</td></tr><tr><td>Other consumer loans</td><td></td><td></td></tr><tr><td>Auto</td><td>63,573</td><td>66,242</td></tr><tr><td>Consumer & Business Banking</td><td>26,612</td><td>25,789</td></tr><tr><td>Residential real estate – PCI</td><td></td><td></td></tr><tr><td>Home equity</td><td>8,963</td><td>10,799</td></tr><tr><td>Prime mortgage</td><td>4,690</td><td>6,479</td></tr><tr><td>Subprime mortgage</td><td>1,945</td><td>2,609</td></tr><tr><td>Option ARMs</td><td>8,436</td><td>10,689</td></tr><tr><td>Total retained loans</td><td>$373,637</td><td>$372,553</td></tr></table>
<table><tr><td>Year ended December 31,</td><td>2018</td><td>2017</td><td></td><td>2016</td><td></td></tr><tr><td>Statutory U.S. federal tax rate</td><td>21.0%</td><td>35.0%</td><td></td><td>35.0%</td><td></td></tr><tr><td>Increase/(decrease) in tax rate resulting from:</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>U.S. state and local income taxes, net of U.S. federal income tax benefit</td><td>4.0</td><td>2.2</td><td></td><td>2.4</td><td></td></tr><tr><td>Tax-exempt income</td><td>- 1.5</td><td>- 3.3</td><td></td><td>- 3.1</td><td></td></tr><tr><td>Non-U.S. subsidiary earnings</td><td>0.6</td><td>- 3.1</td><td><sup>(a)</sup></td><td>- 1.7</td><td><sup>(a)</sup></td></tr><tr><td>Business tax credits</td><td>- 3.5</td><td>- 4.2</td><td></td><td>- 3.9</td><td></td></tr><tr><td>Impact of the TCJA</td><td>- 0.7</td><td>5.4</td><td></td><td>—</td><td></td></tr><tr><td>Other, net</td><td>0.4</td><td>- 0.1</td><td></td><td>- 0.3</td><td></td></tr><tr><td>Effective tax rate</td><td>20.3%</td><td>31.9%</td><td></td><td>28.4%</td><td></td></tr></table>
<table><tr><td>Year ended December 31,(in millions, except rates)</td><td>2018</td><td>2017</td><td>2016</td></tr><tr><td>Net interest income – managed basis<sup>(a)(b)</sup></td><td>$55,687</td><td>$51,410</td><td>$47,292</td></tr><tr><td>Less: CIB Markets net interest income<sup>(c)</sup></td><td>3,087</td><td>4,630</td><td>6,334</td></tr><tr><td>Net interest income excluding CIB Markets<sup>(a)</sup></td><td>$52,600</td><td>$46,780</td><td>$40,958</td></tr><tr><td>Average interest-earning assets</td><td>$2,229,188</td><td>$2,180,592</td><td>$2,101,604</td></tr><tr><td>Less: Average CIB Markets interest-earning assets<sup>(c)</sup></td><td>609,635</td><td>540,835</td><td>520,307</td></tr><tr><td>Average interest-earning assets excluding CIB Markets</td><td>$1,619,553</td><td>$1,639,757</td><td>$1,581,297</td></tr><tr><td>Net interest yield on average interest-earning assets – managed basis</td><td>2.50%</td><td>2.36%</td><td>2.25%</td></tr><tr><td>Net interest yield on average CIB Markets interest-earning assets<sup>(c)</sup></td><td>0.51</td><td>0.86</td><td>1.22</td></tr><tr><td>Net interest yield on average interest-earning assets excluding CIB Markets</td><td>3.25%</td><td>2.85%</td><td>2.59%</td></tr></table>

Question: What is the growing rate of Equity securities of Level 2 in Table 1 in the year with the most Other, net in Table 3?
Answer: -0.16495