CGMHI also has substantial borrowing arrangements consisting of facilities that CGMHI has been advised are available, but where no contractual lending obligation exists.
These arrangements are reviewed on an ongoing basis to ensure flexibility in meeting CGMHI’s short-term requirements.
The Company issues both fixed and variable rate debt in a range of currencies.
It uses derivative contracts, primarily interest rate swaps, to effectively convert a portion of its fixed rate debt to variable rate debt andvariable rate debt to fixed rate debt.
The maturity structure of the derivatives generally corresponds to the maturity structure of the debt being hedged.
In addition, the Company uses other derivative contracts to manage the foreign exchange impact of certain debt issuances.
At December 31, 2008, the Company’s overall weighted average interest rate for long-term debt was 3.83% on a contractual basis and 4.19% including the effects of derivative contracts.
Aggregate annual maturities of long-term debt obligations (based on final maturity dates) including trust preferred securities are as follows:
## Table 0 ##
Long-term debt at December 31, 2008 and December 31, 2007 includes $24,060 million and $23,756 million, respectively, of junior subordinated debt.
The Company formed statutory business trusts under the laws of the state of Delaware.
The trusts exist for the exclusive purposes of (i) issuing Trust Securities representing undivided beneficial interests in the assets of the Trust; (ii) investing the gross proceeds of the Trust Securities in junior subordinated deferrable interest debentures (subordinated debentures) of its parent; and (iii) engaging in only those activities necessary or incidental thereto.
Upon approval from the Federal Reserve, Citigroup has the right to redeem these securities.
Citigroup has contractually agreed not to redeem or purchase (i) the 6.50% Enhanced Trust Preferred Securities of Citigroup Capital XV before September 15, 2056, (ii) the 6.45% Enhanced Trust Preferred Securities of Citigroup Capital XVI before December 31, 2046, (iii) the 6.35% Enhanced Trust Preferred Securities of Citigroup Capital XVII before March 15, 2057, (iv) the 6.829% Fixed Rate/Floating Rate Enhanced Trust Preferred Securities of Citigroup Capital XVIII before June 28, 2047, (v) the 7.250% Enhanced Trust Preferred Securities of Citigroup Capital XIX before August 15, 2047, (vi) the 7.875% Enhanced Trust Preferred Securities of Citigroup Capital XX before December 15, 2067, and (vii) the 8.300% Fixed Rate/Floating Rate Enhanced Trust Preferred Securities of Citigroup Capital XXI before December 21, 2067 unless certain conditions, described in Exhibit 4.03 to Citigroup’s Current Report on Form 8-K filed on September 18, 2006, in Exhibit 4.02 to Citigroup’s Current Report on Form 8-K filed on November 28, 2006, in Exhibit 4.02 to Citigroup’s Current Report on Form 8-K filed on March 8, 2007, in Exhibit 4.02 to Citigroup’s Current Report on Form 8-K filed on July 2, 2007, in Exhibit 4.02 to Citigroup’s Current Report on Form 8-K filed on August 17, 2007, in Exhibit 4.2 to Citigroup’s Current Report on Form 8-K filed on November 27, 2007, and in Exhibit 4.2 to Citigroup’s Current Report on Form 8-K filed on December 21, 2007, respectively, are met.
These agreements are for the benefit of the holders of Citigroup’s 6.00% Junior Subordinated Deferrable Interest Debentures due 2034.
Citigroup owns all of the voting securities of these subsidiary trusts.
These subsidiary trusts have no assets, operations, revenues or cash flows other than those related to the issuance, administration and repayment of the subsidiary trusts and the subsidiary trusts’ common securities.
These subsidiary trusts’ obligations are fully and unconditionally guaranteed by Citigroup
INSTITUTIONAL CLIENTS GROUP Institutional Clients Group (ICG) includes Securities and Banking and Transaction Services.
ICG provides corporate, institutional, public sector and high-net-worth clients with a full range of products and services, including cash management, trade finance and services, securities services, trading, underwriting, lending and advisory services, around the world.
ICG’s international presence is supported by trading floors in approximately 75 countries and a proprietary network within Transaction Services in over 95 countries.
At December 31, 2010, ICG had $953 billion of assets and $451 billion of deposits.
## Table 1 ##
In addition, on February 15, 2019, the Company entered into a second amendment to its existing revolving credit agreement in order to increase the aggregate commitments available thereunder by $1.5 billion and to make certain additional amendments to facilitate the operation of the combined business following the acquisition of First Data.
The increased commitments and additional amendments will become effective upon the satisfaction or waiver of conditions that are substantially similar to the conditions to funding under the term loan facility described within Note 12.
Senior Notes In September 2018, the Company completed an offering of $2.0 billion of senior notes comprised of $1.0 billion aggregate principal amount of 3.8% senior notes due in October 2023 and $1.0 billion aggregate principal amount of 4.2% senior notes due in October 2028.
The notes pay interest semi-annually on April 1 and October 1, commencing on April 1, 2019.
The Company’s 2.7% senior notes due in June 2020 and 3.85% senior notes due in June 2025 pay interest at the stated rates semiannually on June 1 and December 1 of each year.
The Company’s 4.75% senior notes due in June 2021 pay interest at the stated rate on June 15 and December 15 of each year.
The Company’s 3.5% senior notes due in October 2022 pay interest at the stated rate on April 1 and October 1 of each year.
The interest rate applicable to these notes is subject to an increase of up to two percent in the event that the credit rating assigned to such notes is downgraded below investment grade.
The indentures governing the senior notes contain covenants that, among other matters, limit (1) the Company’s ability to consolidate or merge with or into, or convey, transfer or lease all or substantially all of its properties and assets to, another person, (2) the Company’s and certain of its subsidiaries’ ability to create or assume liens, and (3) the Company’s and certain of its subsidiaries’ ability to engage in sale and leaseback transactions.
The Company used the net proceeds from the offering described above to repay the outstanding principal balance of $540 million under its term loan and the outstanding borrowings under its amended and restated revolving credit facility totaling $1.1 billion.
In addition, the Company commenced a cash tender offer in September 2018 for any and all of its outstanding $450 million aggregate principal amount of 4.625% senior notes due October 2020.
Upon expiration of the tender offer on September 26, 2018, $246 million was tendered.
In October 2018, the Company retired the remaining outstanding $204 million aggregate principal amount of 4.625% senior notes.
The Company recorded a pre-tax loss on early debt extinguishment of $14 million related to these activities.
Debt Issuance Costs Debt issuance costs are amortized as a component of interest expense over the term of the underlying debt using the effective interest method.
Debt issuance costs related to the Company’s senior notes and term loan totaled $25 million and $14 million at December 31, 2018 and 2017, respectively, and are reported as a direct reduction of the related debt instrument in the consolidated balance sheets.
Debt issuance costs related to the Company’s revolving credit facility are reported in other longterm assets in the consolidated balance sheets and totaled $5 million and $3 million at December 31, 2018 and 2017, respectively.7.
Income Taxes Substantially all of the Company’s pre-tax earnings are derived from domestic operations in all periods presented.
A reconciliation of the statutory federal income tax rate to the Company’s effective income tax rate for continuing operations is as follows:
## Table 2 ##

<table><tr><td><i>In millions of dollars</i></td><td>2009</td><td>2010</td><td>2011</td><td>2012</td><td>2013</td><td>Thereafter</td></tr><tr><td>Citigroup parent company</td><td>$13,463</td><td>$17,500</td><td>$19,864</td><td>$21,135</td><td>$17,525</td><td>$102,794</td></tr><tr><td>Other Citigroup subsidiaries</td><td>55,853</td><td>16,198</td><td>18,607</td><td>2,718</td><td>4,248</td><td>11,691</td></tr><tr><td>Citigroup Global Markets Holdings Inc.</td><td>1,524</td><td>2,352</td><td>1,487</td><td>2,893</td><td>392</td><td>11,975</td></tr><tr><td>Citigroup Funding Inc.</td><td>17,632</td><td>5,381</td><td>2,154</td><td>1,253</td><td>3,790</td><td>7,164</td></tr><tr><td>Total</td><td>$88,472</td><td>$41,431</td><td>$42,112</td><td>$27,999</td><td>$25,955</td><td>$133,624</td></tr></table>
<table><tr><td>In millions of dollars</td><td>2010</td><td>2009</td><td>2008</td><td>% Change 2010 vs. 2009</td><td>% Change 2009 vs. 2008</td></tr><tr><td>Commissions and fees</td><td>$4,266</td><td>$4,194</td><td>$5,136</td><td>2%</td><td>-18%</td></tr><tr><td>Administration and other fiduciary fees</td><td>2,747</td><td>2,850</td><td>3,178</td><td>-4</td><td>-10</td></tr><tr><td>Investment banking</td><td>3,520</td><td>4,687</td><td>3,334</td><td>-25</td><td>41</td></tr><tr><td>Principal transactions</td><td>5,567</td><td>5,626</td><td>6,102</td><td>-1</td><td>-8</td></tr><tr><td>Other</td><td>1,442</td><td>1,513</td><td>-1,129</td><td>-5</td><td>NM</td></tr><tr><td>Total non-interest revenue</td><td>$17,542</td><td>$18,870</td><td>$16,621</td><td>-7%</td><td>14%</td></tr><tr><td>Net interest revenue (including dividends)</td><td>15,576</td><td>18,028</td><td>18,053</td><td>-14</td><td>—</td></tr><tr><td>Total revenues, net of interest expense</td><td>$33,118</td><td>$36,898</td><td>$34,674</td><td>-10%</td><td>6%</td></tr><tr><td>Total operating expenses</td><td>19,405</td><td>17,599</td><td>21,007</td><td>10</td><td>-16</td></tr><tr><td>Net credit losses</td><td>568</td><td>745</td><td>916</td><td>-24</td><td>-19</td></tr><tr><td>Provision (release) for unfunded lending commitments</td><td>-28</td><td>138</td><td>-191</td><td>NM</td><td>NM</td></tr><tr><td>Credit reserve build (release)</td><td>-624</td><td>896</td><td>1,314</td><td>NM</td><td>-32</td></tr><tr><td>Provisions for loan losses and benefits and claims</td><td>$-84</td><td>$1,779</td><td>$2,039</td><td>NM</td><td>-13%</td></tr><tr><td>Income from continuing operations before taxes</td><td>$13,797</td><td>$17,520</td><td>$11,628</td><td>-21%</td><td>51%</td></tr><tr><td>Income taxes</td><td>3,544</td><td>4,599</td><td>2,209</td><td>-23</td><td>NM</td></tr><tr><td>Income from continuing operations</td><td>$10,253</td><td>$12,921</td><td>$9,419</td><td>-21%</td><td>37%</td></tr><tr><td>Net income attributable to noncontrolling interests</td><td>131</td><td>68</td><td>18</td><td>93</td><td>NM</td></tr><tr><td>Net income</td><td>$10,122</td><td>$12,853</td><td>$9,401</td><td>-21%</td><td>37%</td></tr><tr><td>Average assets(in billions of dollars)</td><td>$946</td><td>$846</td><td>$1,057</td><td>12%</td><td>-20%</td></tr><tr><td>Return on assets</td><td>1.07%</td><td>1.52%</td><td>0.89%</td><td></td><td></td></tr><tr><td>Revenues by region</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>North America</td><td>$11,875</td><td>$11,359</td><td>$12,982</td><td>5%</td><td>-13%</td></tr><tr><td>EMEA</td><td>10,198</td><td>13,438</td><td>9,640</td><td>-24</td><td>39</td></tr><tr><td>Latin America</td><td>4,022</td><td>4,794</td><td>3,813</td><td>-16</td><td>26</td></tr><tr><td>Asia</td><td>7,023</td><td>7,307</td><td>8,239</td><td>-4</td><td>-11</td></tr><tr><td>Total</td><td>$33,118</td><td>$36,898</td><td>$34,674</td><td>-10%</td><td>6%</td></tr><tr><td>Income from continuing operations by region</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>North America</td><td>$3,081</td><td>$3,000</td><td>$2,718</td><td>3%</td><td>10%</td></tr><tr><td>EMEA</td><td>3,056</td><td>4,713</td><td>1,834</td><td>-35</td><td>NM</td></tr><tr><td>Latin America</td><td>1,725</td><td>2,140</td><td>1,701</td><td>-19</td><td>26</td></tr><tr><td>Asia</td><td>2,391</td><td>3,068</td><td>3,166</td><td>-22</td><td>-3</td></tr><tr><td>Total</td><td>$10,253</td><td>$12,921</td><td>$9,419</td><td>-21%</td><td>37%</td></tr><tr><td>Average loans by region(in billions of dollars)</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>North America</td><td>$66</td><td>$52</td><td>$58</td><td>27%</td><td>-10%</td></tr><tr><td>EMEA</td><td>38</td><td>45</td><td>56</td><td>-16</td><td>-20</td></tr><tr><td>Latin America</td><td>22</td><td>22</td><td>25</td><td>—</td><td>-12</td></tr><tr><td>Asia</td><td>36</td><td>28</td><td>37</td><td>29</td><td>-24</td></tr><tr><td>Total</td><td>$162</td><td>$147</td><td>$176</td><td>10%</td><td>-16%</td></tr></table>
<table><tr><td></td><td>2018</td><td>2017</td><td>2016</td></tr><tr><td>Statutory federal income tax rate</td><td>21.0%</td><td>35.0%</td><td>35.0%</td></tr><tr><td>State income taxes, net of federal effect</td><td>3.2%</td><td>2.3%</td><td>2.9%</td></tr><tr><td>Unconsolidated affiliate tax</td><td>0.1%</td><td>0.9%</td><td>4.2%</td></tr><tr><td>Tax expense (benefit) due to federal tax reform</td><td>1.2%</td><td>-20.3%</td><td>—%</td></tr><tr><td>Excess tax benefit from share-based awards</td><td>-2.2%</td><td>-3.6%</td><td>—%</td></tr><tr><td>Sale of business</td><td>1.3%</td><td>—%</td><td>—%</td></tr><tr><td>Domestic production activities deduction</td><td>—%</td><td>-2.0%</td><td>-3.0%</td></tr><tr><td>Other, net</td><td>-0.3%</td><td>-0.7%</td><td>-0.5%</td></tr><tr><td>Effective income tax rate</td><td>24.3%</td><td>11.6%</td><td>38.6%</td></tr></table>

Question: What's the average of Other Citigroup subsidiaries of 2012, and Latin America Income from continuing operations by region of 2008 ?
Answer: 2209.5