BANK OF AMERICA CORPORATION AND SUBSIDIARIES Notes to Consolidated Financial Statements—(Continued) Deposits The fair value for deposits with stated maturities was calculated by discounting contractual cash flows using current market rates for instruments with similar maturities.
The carrying value of foreign time deposits approximates fair value.
For deposits with no stated maturities, the carrying amount was considered to approximate fair value and does not take into account the significant value of the cost advantage and stability of the Corporation’s long-term relationships with depositors.
The book and fair values of certain financial instruments at December 31, 2005 and 2004 were as follows:
## Table 0 ##
Note 20—Business Segment Information The Corporation reports the results of its operations through four business segments: Global Consumer and Small Business Banking, Global Business and Financial Services, Global Capital Markets and Investment Banking, and Global Wealth and Investment Management.
Certain operating segments have been aggregated into a single business segment.
The Corporation may periodically reclassify business segment results based on modifications to its management reporting methodologies and changes in organizational alignment.
Global Consumer and Small Business Banking provides a diversified range of products and services to individuals and small businesses through multiple delivery channels.
Global Business and Financial Services serves domestic and international business clients providing financial services, specialized industry expertise and local delivery through a global team of client managers and a variety of businesses.
During the third quarter of 2005, our operations in Mexico were realigned and are now included in the results of Global Business and Financial Services, rather than Global Capital Markets and Investment Banking.
Global Capital Markets and Investment Banking provides capital-raising solutions, advisory services, derivatives capabilities, equity and debt sales and trading for the Corporation’s clients as well as traditional bank deposit and loan products, treasury management and payment services to large corporations and institutional clients.
Also during the third quarter of 2005, the Corporation announced the future combination of Global Business and Financial Services and Global Capital Markets and Investment Banking that was effective on January 1, 2006.
This new segment is called Global Corporate and Investment Banking.
Global Wealth and Investment Management offers investment services, estate management, financial planning services, fiduciary management, credit and banking expertise, and diversified asset management products to institutional clients as well as affluent and high-net-worth individuals.
All Other consists primarily of Equity Investments, the residual impact of the allowance for credit losses process, Merger and Restructuring Charges, intersegment eliminations, and the results of certain consumer finance and commercial lending businesses that are being liquidated.
All Other also includes certain amounts associated with the ALM process, including the impact of funds transfer pricing allocation methodologies, amounts associated with the change in the value of derivatives used as economic hedges of interest rate and foreign exchange rate fluctuations that do not qualify for SFAS 133 hedge accounting treatment, gains or losses on sales of whole mortgage loans, and Gains on Sales of Debt Securities.
Total Revenue includes Net Interest Income on a fully taxable-equivalent (FTE) basis and Noninterest Income.
The adjustment of Net Interest Income to a FTE basis results in a corresponding increase in Income Tax Expense.
The Net Interest Income of the business segments includes the results of a funds transfer pricing process that matches assets and liabilities with similar interest rate sensitivity and maturity characteristics.
Net Interest Income of the business segments also includes an allocation of Net Interest Income generated by the Corporation’s ALM process.
Certain expenses not directly attributable to a specific business segment are allocated to the segments based on pre-determined means.
The most significant of these expenses include data processing costs, item processing costs and certain centralized or shared functions.
Data processing costs are allocated to the segments based on equipment usage.
Item processing costs are allocated to the segments based on the volume of items processed for each segment.
The cost of certain centralized or shared functions are allocated based on methodologies which reflect utilization.
acquired Countrywide Bank, FSB which is regulated by the Office of Thrift Supervision (OTS) and is, therefore, subject to OTS capital requirements.
Countrywide Bank, FSB is required by OTS regulations to maintain a tangible equity ratio of at least two percent to avoid being classified as “critically undercapitalized.
” At December 31, 2008, Countrywide Bank, FSB’s tangible equity ratio was 6.64 percent and was classified as “wellcapitalized” for regulatory purposes.
Management believes that the Corporation, Bank of America, N. A. , FIA Card Services, N. A.  and Countrywide Bank, FSB will remain “well-capitalized.
” Certain corporate sponsored trust companies which issue trust preferred securities (Trust Securities) are not consolidated pursuant to FIN 46R.
In accordance with FRB guidance, the FRB allows Trust Securities to qualify as Tier 1 Capital with revised quantitative limits that would be effective on March 31, 2009.
As a result, we include Trust Securities in Tier 1 Capital.
Such limits restricted core capital elements to 15 percent for internationally active bank holding companies.
In addition, the FRB revised the qualitative standards for capital instruments included in regulatory capital.
Internationally active bank holding companies are those with consolidated assets greater than $250 billion or on-balance sheet exposure greater than $10 billion.
At December 31, 2008, the Corporation’s restricted core capital elements comprised 14.7 percent of total core capital elements.
The Corporation expects to remain fully compliant with the revised limits prior to the implementation date of March 31, 2009.
Table 12 reconciles the Corporation’s total shareholders’ equity to Tier 1 and Total Capital as defined by the regulations issued by the FRB, the FDIC, the OCC and the OTS at December 31, 2008 and 2007.
At December 31, 2008, the Corporation’s Tier 1 Capital, Total Capital and Tier 1 Leverage ratios were 9.15 percent, 13.00 percent, and 6.44 percent, respectively.
See Note 15 – Regulatory Requirements and Restrictions to the Consolidated Financial Statements for more information on the Corporation’s regulatory capital.
The Corporation calculates tangible common equity as common shareholders’ equity less goodwill and intangible assets (excluding MSRs) divided by total assets less goodwill and intangible assets (excluding MSRs).
Our tangible common equity ratio decreased to 2.83 percent at December 31, 2008 as compared to 3.35 percent at December 31, 2007 as the favorable impact to common equity from the issuance of common stock and net income during the year was more than offset by dividend payments and an increased loss in accumulated OCI.
Management remains focused on balance sheet discipline and reducing non-core business asset levels to improve this ratio in future periods.
Unlike the Tier 1 Capital ratio, the tangible common equity ratio is subject to fluctuations in accumulated OCI, including unrealized losses on AFS debt securities that we expect to return to par upon their maturity, which adversely impacted this ratio at December 31, 2008.
On January 1, 2009, we completed the acquisition of Merrill Lynch and subsequently issued an additional $10.0 billion of preferred stock in connection with the TARP Capital Purchase Program.
In addition, on January 16, 2009, the U. S.  government agreed to assist in the Merrill Lynch acquisition by making a further investment in the Corporation of $20.0 billion in preferred stock.
Further, the U. S.  government has agreed in principle to provide protection against the possibility of unusually large losses on $118.0 billion in selected capital markets exposure, primarily from the former Merrill Lynch portfolio.
As a fee for this arrangement, we expect to issue to the U. S.  Treasury and FDIC a total of $4.0 billion of a new class of preferred stock.
On a pro forma basis the net impact of the additional capital actions and the acquisition of Merrill Lynch would result in a Tier 1 Capital ratio of approximately 10.7 percent and tangible common equity ratio of 2.6 percent at December 31, 2008.
Management continuously evaluates opportunities to build to the Corporation’s capital position.
During this heightened period of market stress, there is limited ability to source meaningful private-sector capital.
Management therefore remains focused on managing asset-levels appropriately – ensuring we deploy TARP funds to core lending businesses and trimming other assets in non-core businesses.
The Merrill Lynch balance sheet ended the year at approximately $650 billion; down from $875 billion at September 30, 2008.
These reductions provided significant benefit to capital, while not forgoing meaningful earnings to the Corporation.
Management is also focused on disciplined expense management to further contribute to the Corporation’s capital position through earnings generation.
The government actions noted above ensures the Corporation has adequate capital to manage through this earnings cycle, but we are clearly focused on evaluating opportunities to repay the U.  S.  government as soon as possible.
Obviously the earnings environment and overall health of markets will dictate the pace in which we are able to accomplish these objectives.
Further, management is engaged in holistic stresstesting of the Corporation’s earnings, capital, and liquidity position.
Management recognizes the interdependencies and the importance of planning under a wide range of potential scenarios in light of the historic volatility witnessed over the past 18 months.
## Table 1 ##
(1) Nonqualifying intangible assets of the Corporation are comprised of certain core deposit intangibles, affinity relationships and other intangibles.
(2) At December 31, 2008 and 2007, includes 45 percent of the pre-tax fair value adjustment of $3.5 billion and $6.0 billion related to the Corporation’s stock investment in CCB.
Table 18 presents net charge-offs and related ratios for our consumer loans and leases and net losses and related ratios for our managed credit card portfolio for 2009 and 2008.
The reported net charge-off ratios for residential mortgage, home equity and discontinued real estate benefit from the addition of the Countrywide purchased impaired loan portfolio as the initial fair value adjustments recorded on those loans upon acquisition already included the estimated credit losses.
## Table 2 ##
(1) Net charge-off/loss ratios are calculated as held net charge-offs or managed net losses divided by average outstanding held or managed loans and leases.
(2) Net charge-off ratios excluding the Countrywide purchased impaired loan portfolio were 1.82 percent and 0.36 percent for residential mortgage, 5.00 percent and 2.73 percent for home equity, 5.57 percent and 1.33 percent for discontinued real estate, and 4.52 percent and 2.29 percent for the total held portfolio for 2009 and 2008.
These are the only product classifications materially impacted by the Countrywide purchased impaired loan portfolio for 2009 and 2008.
For all loan and lease categories, the dollar amounts of the net charge-offs were unchanged.
We believe that the presentation of information adjusted to exclude the impacts of the Countrywide purchased impaired loan portfolio is more representative of the ongoing operations and credit quality of the business.
As a result, in the following discussions of the residential mortgage, home equity and discontinued real estate portfolios, we supplement certain reported statistics with information that is adjusted to exclude the impacts of the Countrywide purchased impaired loan portfolio.
In addition, beginning on page 71, we separately disclose information on the Countrywide purchased impaired loan portfolio.
Residential Mortgage The residential mortgage portfolio, which excludes the discontinued real estate portfolio acquired with Countrywide, makes up the largest percentage of our consumer loan portfolio at 42 percent of consumer loans and leases (43 percent excluding the Countrywide purchased impaired loan portfolio) at December 31, 2009.
Approximately 15 percent of the residential portfolio is in GWIM and represents residential mortgages that are originated for the home purchase and refinancing needs of our affluent customers.
The remaining portion of the portfolio is mostly in All Other and is comprised of both purchased loans as well as residential loans originated for our customers which are used in our overall ALM activities.
Outstanding loans and leases decreased $5.9 billion at December 31, 2009 compared to December 31, 2008 due to lower balance sheet retention of new originations, paydowns and charge-offs as well as sales and conversions of loans into retained MBS.
These decreases were offset, in part, by the acquisition of Merrill Lynch and GNMA repurchases.
Merrill Lynch added $21.7 billion of residential mortgage outstandings as of December 31, 2009.
At December 31, 2009 and 2008, loans past due 90 days or more and still accruing interest of $11.7 billion and $372 million were related to repurchases pursuant to our servicing agreements with GNMA where repayments are insured by the FHA.
The increase was driven by the repurchase of delinquent loans from securitizations during the year as we repurchase these loans for economic reasons, with no significant detrimental impact to our risk exposure.
Excluding these repurchases, the accruing loans past due 90 days or more as a percentage of consumer loans and leases would have been 0.72 percent (0.77 percent excluding the Countrywide purchased impaired loan portfolio) and 0.67 percent (0.72 percent excluding the Countrywide purchased impaired loan portfolio) at December 31, 2009 and 2008.
Nonperforming residential mortgage loans increased $9.5 billion compared to December 31, 2008 due to the impacts of the weak housing markets and economic conditions and in part due to TDRs.
For more information on TDRs, refer to the Nonperforming Consumer Loans and Foreclosed Properties Activity discussion on page 74 and Note 6 – Outstanding Loans and Leases to the Consolidated Financial Statements.
At December 31, 2009, $9.6 billion or approximately 58 percent, of the nonperforming residential mortgage loans were greater than 180 days past due and had been written down to their fair values.
Net charge-offs increased $3.4 billion to $4.4 billion in 2009, or 1.74 percent (1.82 percent excluding the Countrywide purchased impaired portfolio), of total average residential mortgage loans compared to 0.36 percent (0.36 percent excluding the Countrywide purchased impaired portfolio) for 2008.
These increases reflect the impacts of the weak housing markets and the weak economy.
See the Countrywide Purchased Impaired Loan Portfolio discussion beginning on page 71 for more information.
We mitigate a portion of our credit risk through synthetic securitizations which are cash collateralized and provide mezzanine risk protection of $2.5 billion which will reimburse us in the event that losses exceed 10 bps of the original pool balance.
For further information regarding these synthetic securitizations, see Note 6 – Outstanding Loans and Leases to the Consolidated Financial Statements.
The reported net charge-offs for residential mortgages do not include the benefits of amounts reimbursable under cash collateralized synthetic securitizations.
Adjusting for the benefit of this credit protection, the residential mortgage net charge-off ratio in 2009 would have been reduced by 25 bps and four bps in 2008.
Synthetic securitizations and the protection provided by GSEs together provided risk mitigation for approximately 32 percent and 48 percent of our residential mortgage portfolio at December 31, 2009 and 2008.
Our regulatory risk-weighted assets are reduced as a result of these risk protection transactions because we transferred a portion of our credit risk to unaffiliated parties.
At December 31, 2009 and 2008, these
Entergy Corporation and Subsidiaries Management’s Financial Discussion and Analysis Operations may be extended up to four additional years for each unit by mutual agreement of Entergy and New York State based on an exigent reliability need for Indian Point generation.
In accordance with the FERC-approved tariff of the New York Independent System Operator (NYISO), Entergy submitted to the NYISO a notice of generator deactivation based on the dates in the settlement (no later than April 30, 2020 for Indian Point Unit 2 and April 30, 2021 for Indian Point Unit 3).
In December 2017, NYISO issued a report stating there will not be a system reliability need following the deactivation of Indian Point.
The NYISO also has advised that it will perform an analysis of the potential competitive impacts of the proposed retirement under provisions of its tariff.
The deadline for the NYISO to make a withholding determination is in dispute and is pending before the FERC.
In addition to contractually agreeing to cease commercial operations early, in February 2017 Entergy filed with the NRC an amendment to its license renewal application changing the term of the requested licenses to coincide with the latest possible extension by mutual agreement based on exigent reliability needs: April 30, 2024 for Indian Point 2 and April 30, 2025 for Indian Point 3.
If Entergy reasonably determines that the NRC will treat the amendment other than as a routine amendment, Entergy may withdraw the amendment.
Other provisions of the settlement include termination of all then-existing investigations of Indian Point by the agencies signing the agreement, which include the New York State Department of Environmental Conservation, the New York State Department of State, the New York State Department of Public Service, the New York State Department of Health, and the New York State Attorney General.
The settlement recognizes the right of New York State agencies to pursue new investigations and enforcement actions with respect to new circumstances or existing conditions that become materially exacerbated.
Another provision of the settlement obligates Entergy to establish a $15 million fund for environmental projects and community support.
Apportionment and allocation of funds to beneficiaries are to be determined by mutual agreement of New York State and Entergy.
The settlement recognizes New York State’s right to perform an annual inspection of Indian Point, with scope and timing to be determined by mutual agreement.
In May 2017 a plaintiff filed two parallel state court appeals challenging New York State’s actions in signing and implementing the Indian Point settlement with Entergy on the basis that the State failed to perform sufficient environmental analysis of its actions.
All signatories to the settlement agreement, including the Entergy affiliates that hold NRC licenses for Indian Point, were named.
The appeals were voluntarily dismissed in November 2017.
Entergy Corporation and Subsidiaries Management’s Financial Discussion and Analysis 19 Liquidity and Capital Resources This section discusses Entergy’s capital structure, capital spending plans and other uses of capital, sources of capital, and the cash flow activity presented in the cash flow statement.
Capital Structure Entergy’s capitalization is balanced between equity and debt, as shown in the following table.
The increase in the debt to capital ratio for Entergy as of December 31, 2017 is primarily due to an increase in commercial paper outstanding in 2017 as compared to 2016.

<table><tr><td></td><td colspan="4"> December 31 </td></tr><tr><td></td><td colspan="2"> 2005 </td><td colspan="2">2004  (Restated) </td></tr><tr><td> (Dollars in millions)</td><td> Book Value </td><td> Fair Value </td><td>Book Value </td><td>Fair Value </td></tr><tr><td> Financial assets</td><td></td><td></td><td></td><td></td></tr><tr><td>Loans</td><td>$545,238</td><td>$542,626</td><td>$492,033</td><td>$497,614</td></tr><tr><td> Financial liabilities</td><td></td><td></td><td></td><td></td></tr><tr><td>Deposits</td><td>634,670</td><td>633,928</td><td>618,570</td><td>618,409</td></tr><tr><td>Long-term debt</td><td>100,848</td><td>101,446</td><td>97,116</td><td>101,477</td></tr></table>
<table><tr><td></td><td colspan="2">December 31</td></tr><tr><td>(Dollars in millions)</td><td>2008</td><td>2007</td></tr><tr><td>Tier 1 Capital</td><td></td><td></td></tr><tr><td>Total shareholders’ equity</td><td>$177,052</td><td>$146,803</td></tr><tr><td>Goodwill</td><td>-81,934</td><td>-77,530</td></tr><tr><td>Nonqualifying intangible assets<sup>-1</sup></td><td>-4,195</td><td>-5,239</td></tr><tr><td>Effect of net unrealized (gains) losses on AFS debt and marketable equity securities and net (gains) losses on derivatives recorded in accumulated OCI,net-of-tax</td><td>5,479</td><td>-2,149</td></tr><tr><td>Unamortized net periodic benefit costs recorded in accumulated OCI, net-of-tax</td><td>4,642</td><td>1,301</td></tr><tr><td>Trust securities</td><td>18,105</td><td>16,863</td></tr><tr><td>Other</td><td>1,665</td><td>3,323</td></tr><tr><td>Total Tier 1 Capital</td><td>120,814</td><td>83,372</td></tr><tr><td>Long-term debt qualifying as Tier 2 Capital</td><td>31,312</td><td>31,771</td></tr><tr><td>Allowance for loan and lease losses</td><td>23,071</td><td>11,588</td></tr><tr><td>Reserve for unfunded lending commitments</td><td>421</td><td>518</td></tr><tr><td>Other<sup>-2</sup></td><td>-3,957</td><td>6,471</td></tr><tr><td> Total Capital</td><td>$171,661</td><td>$133,720</td></tr></table>
<table><tr><td></td><td colspan="2"> Net Charge-offs/Losses</td><td colspan="2"> Net Charge-off/Loss Ratios<sup>-1, 2</sup></td></tr><tr><td>(Dollars in millions)</td><td> 2009</td><td>2008</td><td>2009</td><td>2008</td></tr><tr><td> Held basis</td><td></td><td></td><td></td><td></td></tr><tr><td>Residential mortgage</td><td>$4,350</td><td>$925</td><td>1.74%</td><td>0.36%</td></tr><tr><td>Home equity</td><td>7,050</td><td>3,496</td><td>4.56</td><td>2.59</td></tr><tr><td>Discontinued real estate</td><td>101</td><td>16</td><td>0.58</td><td>0.15</td></tr><tr><td>Credit card – domestic</td><td>6,547</td><td>4,161</td><td>12.50</td><td>6.57</td></tr><tr><td>Credit card – foreign</td><td>1,239</td><td>551</td><td>6.30</td><td>3.34</td></tr><tr><td>Direct/Indirect consumer</td><td>5,463</td><td>3,114</td><td>5.46</td><td>3.77</td></tr><tr><td>Other consumer</td><td>428</td><td>399</td><td>12.94</td><td>10.46</td></tr><tr><td> Total held</td><td>$25,178</td><td>$12,662</td><td>4.22</td><td>2.21</td></tr><tr><td> Supplemental managed basis data</td><td></td><td></td><td></td><td></td></tr><tr><td>Credit card – domestic</td><td>$16,962</td><td>$10,054</td><td>12.07</td><td>6.60</td></tr><tr><td>Credit card – foreign</td><td>2,223</td><td>1,328</td><td>7.43</td><td>4.17</td></tr><tr><td> Total credit card – managed</td><td>$19,185</td><td>$11,382</td><td>11.25</td><td>6.18</td></tr></table>

Question: In the year with largest amount of Residential mortgage, what's the increasing rate of Total held?
Answer: 0.4971