Financial report context:
as described above , the borrowings are extended on a non-recourse basis . as such , there is no credit or market risk exposure to us on the assets , and as a result the terms of the amlf permit exclusion of the assets from regulatory leverage and risk-based capital calculations . the interest rate on the borrowings is set by the federal reserve bank , and we earn net interest revenue by earning a spread on the difference between the yield we earn on the assets and the rate we pay on the borrowings . for 2008 , we earned net interest revenue associated with this facility of approximately $ 68 million . separately , we currently maintain a commercial paper program under which we can issue up to $ 3 billion with original maturities of up to 270 days from the date of issue . at december 31 , 2008 and 2007 , $ 2.59 billion and $ 2.36 billion , respectively , of commercial paper were outstanding . in addition , state street bank currently has board authority to issue bank notes up to an aggregate of $ 5 billion , including up to $ 2.48 billion of senior notes under the fdic 2019s temporary liquidity guarantee program , instituted by the fdic in october 2008 for qualified senior debt issued through june 30 , 2009 , and up to $ 1 billion of subordinated bank notes ( see note 10 ) . at december 31 , 2008 and 2007 , no notes payable were outstanding , and at december 31 , 2008 , all $ 5 billion was available for issuance . state street bank currently maintains a line of credit of cad $ 800 million , or approximately $ 657 million , to support its canadian securities processing operations . the line of credit has no stated termination date and is cancelable by either party with prior notice . at december 31 , 2008 , no balance was due on this line of credit . note 9 . restructuring charges in december 2008 , we implemented a plan to reduce our expenses from operations and support our long- term growth . in connection with this plan , we recorded aggregate restructuring charges of $ 306 million in our consolidated statement of income . the primary component of the plan was an involuntary reduction of approximately 7% ( 7 % ) of our global workforce , which reduction we expect to be substantially completed by the end of the first quarter of 2009 . other components of the plan included costs related to lease and software license terminations , restructuring of agreements with technology providers and other costs . of the aggregate restructuring charges of $ 306 million , $ 243 million related to severance , a portion of which will be paid in a lump sum or over a defined period , and a portion of which will provide related benefits and outplacement services for approximately 2100 employees identified for involuntary termination in connection with the plan ; $ 49 million related to future lease obligations and write-offs of capitalized assets , including $ 23 million for impairment of other intangible assets ; $ 10 million of costs associated with information technology and $ 4 million of other restructuring costs . the severance component included $ 47 million related to accelerated vesting of equity-based compensation . in december 2008 , approximately 620 employees were involuntarily terminated and left state street . the following table presents the activity in the related balance sheet reserve for 2008 . ( in millions ) severance lease and write-offs information technology other total .

Financial table:
( in millions ): initial accrual; severance: $ 250; lease and asset write-offs: $ 42; information technology: $ 10; other: $ 4; total: $ 306
( in millions ): payments and adjustments; severance: -20 ( 20 ); lease and asset write-offs: -25 ( 25 ); information technology: -10 ( 10 ); other: -1 ( 1 ); total: -56 ( 56 )
( in millions ): balance at december 31 2008; severance: $ 230; lease and asset write-offs: $ 17; information technology: 2014; other: $ 3; total: $ 250

Additional report context:
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Question: what value of cad is equal to $ 1 usd?
Answer: 1.22