Effective for fiscal year 2010, we implemented new FASB guidance that changes the manner in which EPS is computed.
EPS for the prior periods were revised as required by this new guidance.
See Note 24 for more information regarding this new accounting guidance.
Reclassifications Prior to October 1, 2009, we reported minority interest within mezzanine equity on our Consolidated Statements of Financial Condition and in minority interest in earnings of subsidiaries in our computation of net income.
Effective October 1, 2009, we implemented new FASB guidance under which we now present noncontrolling interests as a component of equity.
We have reclassified certain amounts previously reported in prior year financial statements to retrospectively reflect noncontrolling interest within equity and to allocate net income (loss) between noncontrolling and our own interests.
Certain amounts from prior years have been reclassified to conform to the current year presentation, including a reclassification of $40.3 million and $91.5 million from net cash provided by operating activities to net cash used in investing activities in the Consolidated Statements of Cash Flows, for the years ended September 30, 2009 and 2008, respectively, related to purchases and redemptions of FHLB stock.
The effect of all other reclassifications on our previously reported consolidated financial statements is not material.
NOTE 2 - CASH AND CASH EQUIVALENTS, ASSETS SEGREGATED PURSUANT TO REGULATIONS AND DEPOSITS WITH CLEARING ORGANIZATIONS: Our cash equivalents include money market funds or highly liquid investments not held for resale with original maturities of 90 days or less.
The following are financial instruments that are cash and cash equivalents or other investment balances which are readily convertible into cash as of September 30, 2010 and 2009 (see Note 26 for cash and cash equivalents held by the parent):
## Table 0 ##
(1) At September 30, 2010 and 2009, cash, other segregated assets and U. S.  Treasury securities included additional amounts in order for RJ Bank to meet point-in-time regulatory balance sheet composition requirements related to its qualifying as a thrift institution.
At September 30, 2010, cash in banks and other segregated assets included an additional $1.8 billion and $1.3 billion, respectively, funded by a combination of an overnight FHLB advance and RJBDP deposits.
The borrowing was repaid on October 1, 2010.
The RJBDP deposits were redirected to other RJBDP participating banks in early October, 2010.
At September 30, 2009, U. S.  Treasury securities included an additional $1.2 billion funded by a combination of an overnight FHLB advance and additional RJBDP deposits.
The FHLB advance was repaid on October 1, 2009 and the majority of the excess RJBDP deposits were redirected to other RJBDP participating banks in October 2009.
(2) Consists of cash and cash equivalents maintained in accordance with Rule 15c3-3 of the Securities Exchange Act of 1934.
RJ&A, as a broker-dealer carrying client accounts, is subject to requirements related to maintaining cash or qualified securities in a segregated reserve account for the exclusive benefit of its clients.
Additionally, RJ Ltd.  is required to hold client Registered Retirement Savings Plan funds in trust.
The $1.3 billion in other segregated assets related to the point-in-time regulatory balance sheet composition requirements mentioned above was held as collateral by the FHLB for the overnight advance.
(3) Consists of deposits of cash and cash equivalents or other short-term securities held by other clearing organizations or exchanges.
The following table shows the contractual maturities of RJ Bank’s loan portfolio at September 30, 2010, including contractual principal repayments.
This table does not, however, include any estimates of prepayments.
These prepayments could shorten the average loan lives and cause the actual timing of the loan repayments to differ significantly from those shown in the following table:
## Table 1 ##
(1) Of the sum of these amounts, $1 billion is secured by non-owner occupied commercial real estate properties or their repayment is dependent upon the operation or sale of commercial real estate properties as of September 30, 2010.
The remainder is wholly or partially secured by real estate, the majority of which is also secured by other assets of the borrower.
The following table presents the comparative data for nonperforming loans and total nonperforming assets:
## Table 2 ##
(1) Of the total residential/consumer nonaccrual loans, there are residential mortgage loans totaling $68.7 million and $43.8 million, as of September 30, 2010 and 2009, respectively, for which a charge-off had previously been recorded.
The table of nonperforming assets above excludes $8.2 million and $1.3 million of residential troubled debt restructurings, which were performing in accordance with the restructured terms as of September 30, 2010 and 2009, respectively.
There were no loans modified in troubled debt restructurings, which were excluded from the table above for the years ended September 30, 2008, 2007 and 2006.
As of September 30, 2010 RJ Bank had commitments to lend an additional $623,000 on one nonperforming corporate loan, which was classified as a troubled debt restructuring.
As of September 30, 2009, RJ Bank had commitments to lend an additional $5.2 million on nonperforming loans which were not classified as troubled debt restructurings.
The gross interest income related to the nonperforming loans reflected in the previous table, which would have been recorded had these loans been current in accordance with their original terms, totaled $7.9 million, $7.8 million, and $1.4 million for the years ended September 30, 2010, 2009 and 2008, respectively.
The interest income recognized on nonperforming loans was $1.3 million, $607,000 and $231,000 for the years ended September 30, 2010, 2009 and 2008, respectively
We enter into security transactions on behalf of our clients and other brokers involving forward settlement.
Forward contracts provide for the delayed delivery of the underlying instrument.
The contractual amounts related to these financial instruments reflect the volume and activity and do not reflect the amounts at risk.
The gain or loss on these transactions is recognized on a trade date basis.
Transactions involving future settlement give rise to market risk, which represents the potential loss that can be caused by a change in the market value of a particular financial instrument.
Our exposure to market risk is determined by a number of factors, including the duration, size, composition and diversification of positions held, the absolute and relative levels of interest rates, and market volatility.
The credit risk for these transactions is limited to the unrealized market valuation gains recorded in the Consolidated Statements of Financial Condition.
The majority of our transactions, and consequently, the concentration of our credit exposure is with clients, brokerdealers and other financial institutions in the U. S.  These activities primarily involve collateralized arrangements and may result in credit exposure in the event that the counterparty fails to meet its contractual obligations.
Our exposure to credit risk can be directly impacted by volatile securities markets, which may impair the ability of counterparties to satisfy their contractual obligations.
We seek to control our credit risk through a variety of reporting and control procedures, including establishing credit limits based upon a review of the counterparties' financial condition and credit ratings.
We monitor collateral levels on a daily basis for compliance with regulatory and internal guidelines and request changes in collateral levels as appropriate.
RJ Ltd.  is subject to foreign exchange risk primarily due to financial instruments held in U. S.  dollars that may be impacted by fluctuation in foreign exchange rates.
In order to mitigate this risk, RJ Ltd.  enters into forward foreign exchange contracts.
The fair value of these contracts is not significant.
As of September 30, 2010, forward contracts outstanding to buy and sell U. S.  dollars totaled CDN $10.9 million and CDN $6.2 million, respectively.
RJ Bank has outstanding at any time, a significant number of commitments to extend credit and other credit-related offbalance sheet financial instruments such as standby letters of credit and loan purchases, which then extend over varying periods of time.
These arrangements are subject to strict credit control assessments and each customer’s credit worthiness is evaluated on a case-by-case basis.
Fixed-rate commitments are also subject to market risk resulting from fluctuations in interest rates and RJ Bank’s exposure is limited to the replacement value of those commitments.
A summary of commitments to extend credit and other credit-related off-balance sheet financial instruments outstanding at September 30, 2010 and 2009, is as follows:
## Table 3 ##
(1) Generally, these standby letters of credit are underwritten as part of a larger corporate credit relationship.
Because many lending commitments expire without being funded in whole or part, the contract amounts are not estimates of our actual future credit exposure or future liquidity requirements.
We maintain a reserve to provide for potential losses related to the unfunded lending commitments.
See Note 7 for further discussion of this reserve for unfunded lending commitments.
Credit risk represents the accounting loss that would be recognized at the reporting date if counterparties failed completely to perform as contracted.
The credit risk amounts are equal to the contractual amounts, assuming that the amounts are fully advanced and that the collateral or other security is of no value.
RJ Bank uses the same credit approval and monitoring process in extending loan commitments and other credit-related off-balance sheet instruments as it does in making loans.
Borrowings and Financing Arrangements The following table presents our domestic financing arrangements with third-party lenders as of September 30, 2010:
## Table 4 ##
As of September 30, 2010, we had four 364-day committed and several uncommitted financing arrangements denominated in U. S.  dollars and one uncommitted line of credit denominated in Canadian dollars (“CDN”).
At September 30, 2010, the aggregate domestic facilities were $795.1 million and the Canadian line of credit maintained by RJ Ltd.  was CDN $20 million.
Outstanding borrowings on the domestic uncommitted facilities were $112 million as of September 30, 2010.
Lenders are under no obligation to lend to us under uncommitted credit facilities.
Committed facilities provided by commercial banks in the name of RJ&A include a $100 million bilateral repurchase agreement, a $150 million tri-party repurchase agreement and a $100 million secured line of credit.
The required market value of the collateral associated with these facilities ranges from 102% to 133%.
The interest rates for all of our U.  S.  and Canadian financing facilities are variable and are based on the Fed Funds rate, LIBOR, or Canadian prime rate, as applicable.
Unlike committed credit facilities, uncommitted lenders are not subject to any formula determining the interest rates they may charge on a loan.
For the fiscal year ended September 30, 2010, interest rates on the utilized financing facilities ranged from 0.39% to 2.75% (on a 360 days per year basis).
For the fiscal year ended September 30, 2009, those interest rates ranged from 0.58% to 5.00%.
RJ Bank had a $10 million committed unsecured line of credit of which none was outstanding as of September 30, 2010.
This unsecured line of credit is provided by a commercial bank for the sole purpose of purchasing Fed Funds to meet shortterm and unexpected funding needs.
Subsequent to September 30, 2010, RJ Bank elected to cancel this line of credit.
RJ Bank had $2.45 billion in FHLB advances outstanding at September 30, 2010, comprised of several short-term fixedrate advances and one overnight advance.
The overnight advance of $2.4 billion was made to meet point-in-time regulatory balance sheet composition requirements related to its qualifying as a thrift institution.
Due to this overnight advance, RJ Bank had less than $100,000 in immediate credit available from the FHLB on September 30, 2010 and total available credit of 40% of total assets, with the pledge of additional collateral to the FHLB.
Following the repayment of the $2.4 billion overnight advance on October 1, 2010, RJ Bank had $1.1 billion in immediate credit available from the FHLB and total available credit of 40% of total assets with the pledging of additional collateral to the FHLB.
See Note 12 of the Notes to Consolidated Financial Statements for more information.
At September 30, 2010, all of the FHLB advances outstanding were secured by a blanket lien on RJ Bank’s residential loan portfolio, cash deposits, and agency Mortgage-Backed Securities (“MBS”) available for sale.
RJ Bank is eligible to participate in the FRB’s discount-window program, however, RJ Bank does not view borrowings from the FRB as a primary means of funding.
The credit available in this program is subject to periodic review and may be terminated or reduced at the discretion of the FRB.
We maintain three unsecured settlement lines of credit available to our Argentine joint venture in the aggregate amount of $13.5 million.
Of the aggregate amount, one settlement line for $9 million is guaranteed by RJF.
There were no borrowings outstanding on any of these lines of credit as of September 30, 2010.
For the fiscal year ended September 30, 2010, the interest rate associated with these lines of credit ranged from 4.25% to 17% (on a 360 days per year basis).
For the year ended September 30, 2009, those interest rates ranged from 4% to 18%.
depending upon our senior unsecured debt ratings.
The facilities require the maintenance of a minimum net worth and a debt to net worth coverage ratio.
At December 31, 2006, we were in compliance with these covenants.
The facilities do not include any other financial restrictions, credit rating triggers (other than rating-dependent pricing), or any other provision that could require the posting of collateral.
In addition to our revolving credit facilities, we had $150 million in uncommitted lines of credit available, including $75 million that expires in March 2007 and $75 million expiring in May 2007.
Neither of these lines of credit were used as of December 31, 2006.
We must have equivalent credit available under our five-year facilities to draw on these $75 million lines.
Dividend Restrictions – We are subject to certain restrictions related to the payment of cash dividends to our shareholders due to minimum net worth requirements under the credit facilities referred to above.
The amount of retained earnings available for dividends was $7.8 billion and $6.2 billion at December 31, 2006 and 2005, respectively.
We do not expect that these restrictions will have a material adverse effect on our consolidated financial condition, results of operations, or liquidity.
We declared dividends of $323 million in 2006 and $316 million in 2005.
Shelf Registration Statement – Under a current shelf registration statement, we may issue any combination of debt securities, preferred stock, common stock, or warrants for debt securities or preferred stock in one or more offerings.
At December 31, 2006, we had $500 million remaining for issuance under the current shelf registration statement.
We have no immediate plans to issue any securities; however, we routinely consider and evaluate opportunities to replace existing debt or access capital through issuances of debt securities under this shelf registration, and, therefore, we may issue debt securities at any time.6.
Leases We lease certain locomotives, freight cars, and other property.
Future minimum lease payments for operating and capital leases with initial or remaining non-cancelable lease terms in excess of one year as of December 31, 2006 were as follows:
## Table 5 ##
Rent expense for operating leases with terms exceeding one month was $798 million in 2006, $728 million in 2005, and $651 million in 2004.
When cash rental payments are not made on a straight-line basis, we recognize variable rental expense on a straight-line basis over the lease term.
Contingent rentals and sub-rentals are not significant.

['

September 30,
2010	2009
(in 000\'s)
Cash and Cash Equivalents:
Cash in banks-1	$2,939,963	$1,085,202
U. S. Treasury securities-1	-	1,206,914
Money market investments	3,276	13,969
Total cash and cash equivalents	2,943,239	2,306,085
Cash and securities segregated pursuant to federal regulations and other
segregated assets-2	3,430,715	2,310,261
Deposits with clearing organizations-3	76,488	83,799
$6,450,442	$4,700,145

', '

Due in
1 Year or Less	1 Year – 5 Years	>5 Years	Total
(in 000’s)
Commercial Loans	$49,324	$515,691	$88,017	$653,032
Real Estate Construction Loans-1	17,579	47,933	-	65,512
Commercial Real Estate Loans-1	472,728	2,583,439	464,216	3,520,383
Residential Mortgage Loans	1,169	12,921	2,004,065	2,018,155
Consumer Loans	23,461	454	25	23,940
Total Loans	$564,261	$3,160,438	$2,556,323	$6,281,022

', '

As of September 30,
2010	2009	2008	2007	2006
($ in 000’s)
Nonaccrual Loans:
Corporate	$67,071	$73,961	$37,462	$-	$-
Residential/Consumer-1	80,825	55,097	14,571	1,391	2,091
Total	147,896	129,058	52,033	1,391	2,091
Accruing Loans Which are 90 Days Past Due:
Corporate	830	12,461	-	682	-
Residential/Consumer	5,257	16,863	6,131	1,992	-
Total	6,087	29,324	6,131	2,674	-
Total Nonperforming Loans	153,983	158,382	58,164	4,065	2,091
Real Estate Owned and Other Repossessed Assets, Net:
Corporate	19,486	4,646	1,928	-	-
Residential/Consumer	8,439	4,045	2,216	1,653	-
Total	27,925	8,691	4,144	1,653	-
Total Nonperforming Assets, Net	$181,908	$167,073	$62,308	$5,718	$2,091
Total Nonperforming Assets as a % of Total Loans, Net and Other Real Estate Owned, Net	2.97%	2.53%	0.88%	0.12%	0.09%

', '

September 30,
2010	2009
(in 000\'s)
Standby Letters of Credit-1	$235,729	$242,486
Open End Consumer Lines of Credit	32,328	35,369
Commercial Lines of Credit	1,660,204	1,479,260
Unfunded Loan Commitments - Variable Rate-1	120,363	155,518
Unfunded Loan Commitments – Fixed Rate	2,824	7,553

', '

Committed Unsecured	CommittedSecured	Uncommitted Secured	Uncommitted Unsecured	Total Financing Arrangements
(in 000’s)
RJ&A (with third-party lenders)	$-	$350,000	$185,100	$250,000	$785,100
RJ Bank	10,000	-	-	-	10,000
Total	$10,000	$350,000	$185,100	$250,000	$795,100

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Millions of Dollars	OperatingLeases	Capital Leases
2007	$624	$180
2008	546	173
2009	498	168
2010	456	148
2011	419	157
Later Years	2,914	1,090
Total minimum lease payments	$5,457	$1,916
Amount representing interest	N/A	-680
Present value of minimum lease payments	N/A	$1,236

']

Question: What is the proportion of Residential Mortgage Loans to the total for 1 Year or Less ? (in %)
Answer: 0.0020700000000000002