Name of institution: American Express Company Submission date: November 30, 2009 Person to be c

PART I. QUANTITATIVE OVERVIEW

SCHEDULE A: CONSUMER LENDING (Millions $) AUG SEP OCT Key 1. First Mortgagea. Average Loan Balance (Daily Average Total Outstanding) N/A N/A N/A

b. Total Originations N/A N/A N/A(1) Refinancings N/A N/A N/A(2) New Home Purchases N/A N/A N/A

2. Home Equity

a. Average Total Loan Balance N/A N/A N/Ab. Originations (New Lines+Line Increases) N/A N/A N/A

TREASURY MONTHLY INTERMEDIATION SNAPSHOT

2009

1

c. Total Used and Unused Commitments N/A N/A N/A

3. US Card ‐ Managed

a. Average Total Loan Balance ‐ Managed $74,831 $74,224 $73,783 Represents month ending balances (versus average). Includes all US consumer and small business

lending balances as well as US consumer, small business and commercial charge card balances.

b. New Account Originations (Initial Line Amt) $1,379 $1,048 $1,187 Reflects originations for US credit card products only. Excludes spending on US consumer, small

business and commercial charge products which also represent originations of credit on a

transaction basis.

c. Total Used and Unused Commitments $260,211 $259,454 $257,927 Used commitments represent month ending US charge card and credit card balances outstanding.

Because charge card products have no preset spending limit, the associated credit limit on

cardmember receivables is not quantifiable. Therefore, the quantified unused commitment

amounts include the approximate credit line available on cardmember credit card loans (including

both on‐balance sheet loans and loans previously securitized), however, do not include an unused

commitment amount for charge card products

4. Other Consumer

a. Average Total Loan Balance N/A N/A N/Ab. Originations N/A N/A N/A

Although the len

creditworthy con

weak economic 

increased in Oct

October 2009 co

1
SCHEDULE B: COMMERCIAL LENDING (Millions $) AUG SEP OCT Key 

1. C & Ia. Average Total Loan and Lease Balance N/A N/A N/A

b. Renewal of Existing Accounts N/A N/A N/A

c. New Commitments N/A N/A N/A2. Commercial Real Estate

a. Average Total Loan and Lease Balance N/A N/A N/Ab. Renewal of Existing Accounts N/A N/A N/A

c. New Commitments N/A N/A N/A4. SMALL BUSINESS LOANS3

a. Average Total Loan Balance $14,841 $14,872 $15,040 Represents month ending balances. Includes all US small business lending balances as well as US

small business charge card balances.

SCHEDULE C: MEMORANDA ‐ SMALL BUSINESS LENDING (Millions $)

2

b. Originations N/A N/A N/A Originations for small business loans are included in section 3B of this report "US Card Managed ‐ 

New Account Originations"

SCHEDULE D: OTHER INTERMEDIATION ACTIVITIES (Millions $)

1. MBS/ABS Net Purchased Volume

a. Mortgage Backed Securities N/A N/A N/Ab. Asset Backed Securities N/A N/A N/A2. Secured Lending (Repo, PB, Margin Lending)a. Average Total Matched Book (Repo/Reverse Repo)1 N/A N/A N/A

b. Average Total Debit Balances2 N/A N/A N/A3. Underwriting

a. Total Equity Underwriting N/A N/A N/A

b. Total Debt Underwriting N/A N/A N/A

Notes:3. Memoranda: these loans are already accounted for in either consumer lending, commercial lending, or a combination of both, and include loans guaranteed by the Small Business Administration and/or any other loans that are internally classified as small business loans.

2. Applicable only for institutions offering prime brokerage or other margin lending services to clients.

1. Not applicable if matched book activity does not exceed $50 billion.

2
TREASURY MONTHLY INTERMEDIATION SNAPSHOT

Name of institution:  American Express Company (“American Express”)

Reporting month(s): October 2009    

Submission date: November 30, 2009

Person to be contacted regarding this report: Thomas G Anderson

1

PART II.  QUALITATIVE OVERVIEW

Please provide a brief overview of the intermediation activity during the month.  This discussion should include

a general commentary on the lending environment, loan demand, any changes in lending standards and terms,

and any other intermediation activity.

Overview of American Express Lending Activities

American Express extends credit through its proprietary credit and charge card products. The Company makes

revolving loans to consumers and small businesses through a variety of proprietary credit card products that it

offers. The Company also facilitates the extension of credit to consumers through its Global Network Services

business, which maintains relationships and permits banks and other financial institutions to issue credit card

products for use on the American Express network.  

The Company further extends credit to consumers and small businesses through its proprietary charge card

products, which carry no pre‐set spending limits. Credit can be extended for up to 30 days and may be

extended for a longer period in certain circumstances. Charges are individually approved based on a variety of

factors, including a cardmember's payment history, credit record and financial resources. In addition, the

Company extends credit to middle‐market and large businesses through its commercial charge card products.

The American Express Corporate Card and Corporate Purchasing Card help companies manage their travel,

entertainment and purchasing expenses.  

The Lending and Loan Demand Environment

Although the lending environment remains challenging, American Express has continued to extend credit to

creditworthy consumers and businesses. While overall U.S. spending volumes continued to be soft reflecting

the weak economic environment, the U.S. managed loan balance was essentially flat in October. Loan

originations increased in October 2009 from September 2009 levels. Total commitments (used and unused) are

lower in October 2009 compared to September 2009.  

Lending Standards and Terms

Especially in this difficult economic environment, our intent is to strike the right balance between

accommodating our cardmembers' spending needs and prudently managing credit risk. We are committed to

providing creditworthy cardmembers the capacity to spend.  

Commitment to helping customers

American Express is committed to helping cardmembers who are facing temporary financial hardship and has

significantly expanded its assistance plans in light of the severe economic downturn. We have continued to

expand our Customer Assistance and Relief Environment programs (“CARE”). The programs are designed to

help customers responsibly manage their credit and protect their credit scores in this difficult environment.
Name of institution: Bank of America Submission date: November 30, 2009 Person to be contacted about this r

PART I. QUANTITATIVE OVERVIEW

SCHEDULE A: CONSUMER LENDING (Millions $) AUG SEP OCT Key 1. First Mortgagea. Average Loan Balance (Daily Average Total Outstanding) $241,964 $265,361 $264,626 Average balance represent loans held on the balance sheet, whether originated by BAC or

purchased from others, but does not include discontinued products (pay option and sub

prime) or foreign residential loans. Loans held for sale are included.

b. Total Originations $30,578 $28,547 $29,008 Originations include both loans originated for the balance sheet as well as loans originated

for sale.

(1) Refinancings $18,707 $16,311 $16,123(2) New Home Purchases $11,870 $12,235 $12,885

2. Home Equity

a. Average Total Loan Balance $153,105 $152,404 $151,682 Average balances represent HELOC, HELOAN and Reverse Mortgage, but do not include

discontinued real estate (sub prime) or foreign residential loans. Loans held for sale are

included.

b. Originations (New Lines+Line Increases) $814 $989 $1,064 Originations represent HELOC, HELOAN and Reverse Mortgage, but do not include

discontinued real estate (sub prime) or foreign residential loans.

c. Total Used and Unused Commitments $249,280 $247,767 $246,299 Total commitments include Reverse Mortgage and loans held for sale.

Loans held for sale are are included in t

October 2009 balance is $25.7B.The decline in Residential Mortgage Ave

conversions to securities, and lower bal

Originations in total have increased by 2

and Purchases up 103%. October fundin

14% from Q2.

2009

The Home Equity Average Balance has d

the end of Q2.

For originations in October 2009, Rever

Mortgage, originations were down 11% 

and have declined 50% since Jan 2009, d

September, commitments include Held 

October were down $1.5B from Septem

utilization.

TREASURY MONTHLY INTERMEDIATION SNAPSHOT

1

3. US Card ‐ Manageda. Average Total Loan Balance ‐ Managed $145,709 $143,847 $140,883 Average balances represent US Domestic Card and US Small Business Card.

b. New Account Originations (Initial Line Amt) $1,577 $1,370 $1,402 Originations represent US Domestic Card and US Small Business Card.

c. Total Used and Unused Commitments $637,662 $631,162 $606,127 Commitments represent US Domestic Card and US Small Business Card.

4. Other Consumer

a. Average Total Loan Balance $94,904 $98,706 $98,491 Average balances and Originations represent Dealer Financial Services (primarily auto, marine

& RV), Consumer Lending, Student Lending, Small Business Lines & Loans, Securities Based

Lending and Practice Solutions.

b. Originations $1,910 $2,284 $3,821 Average balances and Originations exclude Foreign Consumer, Banking Center loans and

other discontinued businesses.

Overall commitments continued to decr

The origination amount does not includ

has granted $15.7B in new line amounts 

1
SCHEDULE B: COMMERCIAL LENDING (Millions $) AUG SEP OCT Key 

1. C & Ia. Average Total Loan and Lease Balance $251,814 $216,364 $214,793 C&I is non‐real estate commercial loans and leases, includes domestic loans and leases and

excludes US Small Business Card, Small Business Lines & Loans and Practice Solutions. Loans

held for sale are included.

b. Renewal of Existing Accounts $12,973 $12,486 $13,788 Renewals represent credit facilities that expired/matured and were renewed during the

period; includes funded and unfunded exposure; includes all instrument types except

derivatives (loans held for investment, loans held for sale, LCs, and bankers acceptances).

c. New Commitments $6,870 $4,836 $4,696 New commitments represent new credit facilities booked during the period; includes funded

and unfunded exposure and includes all instrument types except derivatives (see 1.b above).

2. Commercial Real Estate

a. Average Total Loan and Lease Balance $74,386 $72,332 $71,975 Commercial Real Estate includes domestic loans primarily secured by non owner‐occupied

real estate which are dependent on the sale or lease of the real estate as the primary source

of repayment. Loans held for sale are included.

b. Renewal of Existing Accounts $1,871 $2,806 $2,947 Renewals represent credit facilities that expired/matured and were renewed during the

period; includes funded and unfunded exposure; includes all instrument types except

derivatives (see 1.b above).

c. New Commitments $526 $250 $144 New commitments represent new credit facilities booked during the period; includes funded

and unfunded exposure and includes all instrument types except derivatives (see 1.b above).

SCHEDULE C: MEMORANDA ‐ SMALL BUSINESS LENDING (Millions $)

4. Small Business Loans3

a. Average Total Loan Balance $42,277 $41,879 $41,501 Small Business on lines C4a and C4b represents the businesses that serve companies with

revenues up to $20M and is already included in Schedules A4 and B1 above ; includes US

Small Business Card, Small Business Lines & Loans, Practice Solutions and Business Banking

(companies with revenues of $2.5M to $20M).

b. Originations $1,388 $1,108 $1,663 Originations include renewals as well as new loans and new lines of credit.

Overall new loan demand for commerci

and the overall condition of the real est

lack of permanent financing continues t

Beginning in September 2009, foreign lo

new commitments.

Loan demand in the large corporate spa

acquisition and capex financing. Middle 

Banking segment. However, clients are 

September 2009 balances are restated d

original report. Small Business loan bal

2

g $ , $ , $ , g

SCHEDULE D: OTHER INTERMEDIATION ACTIVITIES (Millions $)

1. MBS/ABS Net Purchased Volume

a. Mortgage Backed Securities ‐$8,545 ‐$2,281 $19,030 Mortgage‐backed securities net purchases include only activity related to our Asset/liability

management process, and excludes those securities related to internally originated loans

which have been securitized externally and re‐sold to BAC.

b. Asset Backed Securities  ‐$133 $0 $300 Same as 1.a above.

2. Secured Lending (Repo, PB, Margin Lending)

a. Average Total Matched Book (Repo/Reverse Repo)1 $135,730 $116,224 $130,304 Matched Book Balances represent customer driven ReverseRepo activity. Monthly

fluctuations driven by customer demand, ability to apply FIN41 netting and balance sheet

capacity.

b. Average Total Debit Balances2 $31,001 $32,156 $37,368

3. Underwriting

a. Total Equity Underwriting $3,564 $3,752 $7,228 Underwriting represents BAC commitment on deals closed in current periods.

b. Total Debt Underwriting $10,989 $30,967 $24,635 Same as 3a.

Notes:2. Applicable only for institutions offering prime brokerage or other margin lending services to clients.

Average Debit balances were within the 

increase in average Matched Book bala

businesses manage to balance sheet tar

Effectively flat MoM with a shift betwee

Gross MBS purchases for August, Septe

while gross MBS sales were $15,641, $1

1. Not applicable if matched book activity does not exceed $50 billion.3. Memoranda: these loans are already accounted for in either consumer lending, commercial lending, or a combination of both, and include loans guaranteed by the Small Business Administration and/or any other loans that are internally classified as small business loans.

pp y g p g g g

2
TREASURY MONTHLY INTERMEDIATION SNAPSHOT

Name of institution:  Bank of America

Reporting month(s):  Aug‐Sep‐Oct 2009    

Submission date:  November 30, 2009

Person to be contacted regarding this report: Neil Cotty

1

PART II.  QUALITATIVE OVERVIEW

Please provide a brief overview of the intermediation activity during the month.  This discussion should

include a general commentary on the lending environment, loan demand, any changes in lending

standards and terms, and any other intermediation activity.

Bank of America is one of the world's largest financial institutions, serving individual consumers, small‐ 

and middle‐market businesses and large corporations with a full range of banking, investing, asset

management and other financial and risk management products and services.  The company provides

unmatched convenience in the United States, serving approximately 53 million consumer and small

business relationships with 6,000 retail banking offices, more than 18,000 ATMs and award‐winning

online banking with more than 29 million active users.  Bank of America is among the world's leading

wealth management companies and is a global leader in corporate and investment banking and trading

across a broad range of asset classes serving corporations, governments, institutions and individuals

around the world.  Bank of America offers industry‐leading support to more than 4 million small

business owners through a suite of innovative, easy‐to‐use online products and services.  The company

serves clients in more than 150 countries.  

At October 31, 2009, Bank of America had $2.3 trillion in assets, $914 billion in loans and $975 billion in

deposits.  

Economic Environment

The economic recovery has begun, with 2.8% annualized growth in real GDP in 2009Q3 and continued

expansion in Q4, but higher unemployment continues, reflecting business caution about whether the

recovery will continue.  Product demand has picked up.  Following a typical early‐stage economic

pattern, businesses have increased production without adding employees.  The resulting surge in labor

productivity has generated a sharp rebound in profits.  Historically, such increases in productivity are

followed by rising employment that sustains the economic recovery but slows the productivity gains.

Consumer spending has continued in Q4, following its rebound in Q3 that was generated in part by the

government’s cash‐for‐clunkers auto subsidies.  The holiday retail season is expected to be constrained

by high unemployment, but is expected to compare favorably to last year’s dismal retail season.  

Housing activity has continued to rebound from very low levels of activity.  New and existing home sales

are rising, benefiting from lower prices, favorable mortgage rates and indications that home prices have

troughed.  The Case‐Shiller Home Price Index has increased for 5 consecutive months.  The increases in

home sales have reduced inventories and generated a rise in residential construction.  Nonresidential

construction, traditionally a long cyclical laggard, continues to contract.  
TREASURY MONTHLY INTERMEDIATION SNAPSHOT

Name of institution:  Bank of America

Reporting month(s):  Aug‐Sep‐Oct 2009    

Submission date:  November 30, 2009

Person to be contacted regarding this report: Neil Cotty

2

Exports rose at a dramatic 17% annualized pace in Q3, partially retracing their sharp decline in the prior

year, reflecting the sharp recovery in global economic conditions.  US exports, particularly industrial

materials and capital goods, are expected to continue rising rapidly, as the global recovery gathers

steam and global demand for US goods and services is boosted by the weak US dollar.   

Labor markets remain notably weak.  While the pace of job layoffs has abated, businesses have not

begun rehiring. This reflects their efforts to reduce operating costs, their lack of confidence in the

sustainability of the economic recovery and the uncertainties about higher taxes and fees associated

with health care legislation.  Renewed increases in employment are expected to unfold within the next

several months. However, the unemployment rate is expected to remain elevated for a sustained

period.

The low bond yields, benefiting from low inflation and the Federal Reserve’s low interest rate policy and

its massive purchases of mortgages, has facilitated strong corporate bond issuance, healthy capital

market activities and asset price appreciation.  These trends are expected to continue.    

Credit Markets

In First Mortgage, daily average applications in October were $2.0 billion, a decrease of 4% from

September.   Purchase application volumes were 38% of total mix in October, equal to September.  

October MHA (Making Homes Affordable) application volume is approximately 14% of total refinance

applications, or $3.0B.   

Home Equity fundings (including Reverse Mortgage) in October were $1.1 billion which is 8% higher

compared to September.  The fundings for Home Equity were up 3% while Reverse Mortgage volumes

increased 15% vs. September.   

Overall new loan demand for commercial real estate is down due to the lack of new construction activity

and the overall condition of the real estate market. The CMBS market remains virtually closed and the

lack of permanent financing continues to put pressure on bank deals.  Non‐real estate loan demand in

the large corporate space was somewhat soft over the summer due to lower levels of acquisition and

capital expenditure financing.  Middle Market loan demand remains soft, particularly in the Business

Banking segment. However, clients are continuing to de‐lever, albeit at a slower pace than in Q3.

Bank of America’s Response

In response to these changing conditions, Bank of America did the following to help stabilize the U.S.

economy:

Overall Credit
TREASURY MONTHLY INTERMEDIATION SNAPSHOT

Name of institution:  Bank of America

Reporting month(s):  Aug‐Sep‐Oct 2009    

Submission date:  November 30, 2009

Person to be contacted regarding this report: Neil Cotty

3

Credit extended during October 2009, including commercial renewals of $16.7 billion, was $56.9 billion

compared to $53.6 billion in the prior month.  New credit included $29.0 billion in mortgages, $18.5

billion in commercial non‐real estate, $3.1 billion in commercial real estate, $1.4 billion in domestic and

small business card, $1.1 billion in home equity products and $3.8 billion in other consumer credit.

Excluding commercial renewals, new credit extended during the month was $40.1 billion.  

Small Business:

During the month of October, Small Business Banking (servicing clients with annual revenues with less

than $2.5 million) extended more than $174 million in new credit comprised of credit cards, loans and

lines of credit to more than 12,000 customers.   

Home Ownership/LMI:

In October of 2009, Bank of America funded $29 billion in first mortgages, helping more than 136,009

people either purchase a home or refinance their existing mortgage.  Approximately 44 percent were for

purchases.  Additionally, Bank of America originated $8.1 billion in mortgages made to 53,580 low and

moderate income borrowers which is up from $7.3B and 48,926 borrowers in August (excludes Merrill

Lynch).  Also, Bank of America completed 8,422 modifications in October 2009, down 65% compared to

September.  Total home retention workouts were 11,632 for the same period including Merrill Lynch,

compared to 27,478 in September.  September modifications and workouts were higher as a result of an

adjustment to include 10,583 pre‐emptive modifications completed between January and August 2009.  

Bank of America has provided rate relief or completed modifications with approximately 223,500

customers in the first 10 months of 2009.
Submission date: November 30, 2009 Person to be c

PART I. QUANTITATIVE OVERVIEW

SCHEDULE A: CONSUMER LENDING (Millions $) AUG SEP OCT Key 1. First Mortgagea. Average Loan Balance (Daily Average Total Outstanding) $5,179 $5,188 $5,185 Secured by 1st liens on closed‐end loans for 1‐4 family residential properties. Includes jumbo

mortgages.

b. Total Originations $55 $52 $60(1) Refinancings $39 $27 $29(2) New Home Purchases $16 $25 $31

2. Home Equity

a. Average Total Loan Balance $356 $354 $349 Secured by revolving, open‐end loans for 1‐4 family residential properties extended under lines of

credit.

b. Originations (New Lines+Line Increases) $3 $9 $3

2009

Name of institution: The Bank of New York Mellon Corporation

TREASURY MONTHLY INTERMEDIATION SNAPSHOT

1

c. Total Used and Unused Commitments $758 $755 $744 Period end balances plus unused home equity lines of credit.

3. US Card ‐ Managed

a. Average Total Loan Balance ‐ Managed N/A N/A N/A

b. New Account Originations (Initial Line Amt) N/A N/A N/A

c. Total Used and Unused Commitments N/A N/A N/A

4. Other Consumer

a. Average Total Loan Balance $796 $820 $830 Other consumer loans, excluding other revolving credit plans. These loans include single payment

loans and loans for household and other personal expenditures.

b. Originations $0 $1 $0

The company do

1
SCHEDULE B: COMMERCIAL LENDING (Millions $) AUG SEP OCT Key 

1. C & Ia. Average Total Loan and Lease Balance $8,340 $8,067 $7,668 Domestic and foreign loans and leases to manufacturers and other commercial businesses,

excluding loans made to finance commercial real estate.

b. Renewal of Existing Accounts $348 $85 $218

c. New Commitments $18 $0 $12. Commercial Real Estate

a. Average Total Loan and Lease Balance $2,942 $2,922 $2,885 Loans to finance commercial real estate, construction and land development. Includes real estate

loans both secured and unsecured.

b. Renewal of Existing Accounts $20 $60 $19

c. New Commitments $0 $41 $174. Small Business Loans3

a. Average Total Loan Balance N/A N/A N/A

These loans and 

to remain below 

Loans are secure

unsecured portf

requests continu

The Company do

SCHEDULE C: MEMORANDA ‐ SMALL BUSINESS LENDING (Millions $)

2

b. Originations N/A N/A N/ASCHEDULE D: OTHER INTERMEDIATION ACTIVITIES (Millions $)

1. MBS/ABS Net Purchased Volume

a. Mortgage Backed Securities $1,161 $30 $1,510b. Asset Backed Securities $0 $0 $02. Secured Lending (Repo, PB, Margin Lending)a. Average Total Matched Book (Repo/Reverse Repo)1 N/A N/A N/A Activity less than $50 billion.

b. Average Total Debit Balances2 $4,277 $4,378 $4,509 Average total de

3. Underwriting

a. Total Equity Underwriting $1 $2 $6 Represents our portion of the transactions.

b. Total Debt Underwriting $435 $534 $339 Represents our portion of the transactions.

Amounts report

Notes:3. Memoranda: these loans are already accounted for in either consumer lending, commercial lending, or a combination of both, and include loans guaranteed by the Small Business Administration and/or any other loans that are internally classified as small business loans.

2. Applicable only for institutions offering prime brokerage or other margin lending services to clients.

1. Not applicable if matched book activity does not exceed $50 billion.

2
TREASURY MONTHLY INTERMEDIATION SNAPSHOT

Name of institution:  The Bank of New York Mellon Corporation  

Reporting month(s): October 2009    

Submission date: November 30, 2009

Person to be contacted regarding this report: Jeffrey D Landau

1

PART II.  QUALITATIVE OVERVIEW

Please provide a brief overview of the intermediation activity during the month.  This discussion should include

a general commentary on the lending environment, loan demand, any changes in lending standards and terms,

and any other intermediation activity.

The Bank of New York Mellon, a global leader in asset management and securities servicing, also has a

significant presence in the areas of wealth management, issuer services, clearing services and treasury

services.  The company's global client base includes financial institutions, corporations, government agencies,

pension funds, endowments and foundations.  The company does not have a consumer banking franchise.

With regard to our lending activity, it is paramount to point out that the business model of The Bank of New

York Mellon is very different from traditional retail, commercial or investment banks.  In contrast to most of

the other companies that have received a TARP investment, our business model does not focus on the broad

retail market or products such as mortgages, credit cards, small business loans or auto loans, or on typical

lending to corporate businesses.

Our business is dedicated to helping other financial institutions around the world.  We help monitor and

administer their complex “back‐office” processes.  The Bank also provides critical infrastructure for the global

financial markets by facilitating the movement of money and securities through the markets.

The majority of The Bank of New York Mellon’s lending activity relates to extending credit (i.e., overdrafts,

loans to broker/dealers, etc.) to its institutional client base.  Following the Lehman bankruptcy, we

experienced a significant increase in (i) demand for loans from our broker/dealer clients and (ii) overdrafts

relating to the clearing and securities processing services we provide to clients.  Our willingness and ability to

extend credit in this manner provided liquidity to the market and our core financial institution client base at

the time it was needed most.  In 2009, client demand for these extensions of credit returned to more normal

levels.  Loans to broker/dealers and overdrafts are included in the aggregate amount of loans that we publicly

report, but are not classified as C&I loans.

In keeping with its role as an institutional provider, The Bank of New York Mellon used the TARP investment to

help address the need to improve liquidity in the U.S. financial system.  This was achieved through the

purchase of securities issued by U.S. government‐sponsored agencies.  We also provided liquidity to other

financial institutions in order to increase the amount of funds available in the credit markets.

Specifically, we purchased mortgage‐backed securities and debentures issued by U.S. government‐sponsored

agencies to support efforts to increase the amount of money available to lend to qualified borrowers in the

residential housing market.  We also purchased debt securities of other financial institutions, which helped

increase the amount of funds available to lend to consumers and businesses.  In addition, we used the funds

for interbank placements, federal funds sold and other interbank lending.  All of these efforts addressed the

need to improve liquidity in the financial system and were consistent with our business model which is focused

on institutional clients.
Name of institution: BB&T Corporation Submission date: November 30, 2009 Person to be c

PART I. QUANTITATIVE OVERVIEW

SCHEDULE A: CONSUMER LENDING (Millions $) AUG SEP OCT Key 1. First Mortgagea. Average Loan Balance (Daily Average Total Outstanding) $18,052 $17,471 $17,267 Consists of 1‐4 family residential loans originated primarily through BB&T's branch network.

b. Total Originations $2,063 $1,965 $1,813 Includes loans originated for sale and to be held for investment.

(1) Refinancings $1,173 $1,038 $984(2) New Home Purchases $890 $927 $829

2. Home Equity

a. Average Total Loan Balance $5,975 $5,994 $6,007 Includes only home equity lines. All are originated through BB&T's branch network.

b. Originations (New Lines+Line Increases) $57 $54 $44

TREASURY MONTHLY INTERMEDIATION SNAPSHOT

2009

1

c. Total Used and Unused Commitments $15,689 $15,611 $15,546

3. US Card ‐ Managed

a. Average Total Loan Balance ‐ Managed $2,332 $2,383 $2,419 Balances include bank cards and demand deposit protection lines. Bank cards are primarily

originated through the banking network.

b. New Account Originations (Initial Line Amt) $180 $157 $185

c. Total Used and Unused Commitments $9,658 $9,722 $9,757

4. Other Consumer

a. Average Total Loan Balance $18,074 $18,065 $17,970 Includes non‐revolving home equity loans, sales finance and other consumer loans.

b. Originations $400 $295 $271

1
SCHEDULE B: COMMERCIAL LENDING (Millions $) AUG SEP OCT Key 

1. C & Ia. Average Total Loan and Lease Balance $34,968 $35,340 $35,380 In addition to traditional C&I loans, balances include leveraged leases, equipment finance and

commercial insurance premium finance.

b. Renewal of Existing Accounts $474 $497 $515

c. New Commitments $820 $813 $1,1382. Commercial Real Estate

a. Average Total Loan and Lease Balance $24,506 $27,520 $26,999b. Renewal of Existing Accounts $1,319 $1,272 $1,410

c. New Commitments $297 $271 $3564. Small Business Loans3

a. Average Total Loan Balance $12,181 $11,961 $12,088

Includes an aver

SCHEDULE C: MEMORANDA ‐ SMALL BUSINESS LENDING (Millions $)

2

b. Originations $798 $753 $999SCHEDULE D: OTHER INTERMEDIATION ACTIVITIES (Millions $)

1. MBS/ABS Net Purchased Volume

a. Mortgage Backed Securities ‐$2 $667 $1,472 The number reported is gross purchases ‐ gross sales on a trade date basis. Principal paydowns

are not included.

b. Asset Backed Securities $0 $0 $02. Secured Lending (Repo, PB, Margin Lending)

a. Average Total Matched Book (Repo/Reverse Repo)1 NA NA NA

b. Average Total Debit Balances2 $107 $108 $112

3. Underwriting

a. Total Equity Underwriting $0 $0 $0

b. Total Debt Underwriting $543 $1,181 $640

Notes:3. Memoranda: these loans are already accounted for in either consumer lending, commercial lending, or a combination of both, and include loans guaranteed by the Small Business Administration and/or any other loans that are internally classified as small business loans.

2. Applicable only for institutions offering prime brokerage or other margin lending services to clients.

1. Not applicable if matched book activity does not exceed $50 billion.

2
TREASURY MONTHLY INTERMEDIATION SNAPSHOT

Name of institution:  BB&T Corporation

Reporting month(s):  October 2009   

Submission date:  November 30, 2009

Person to be contacted regarding this report: Alan W. Greer

1

PART II.  QUALITATIVE OVERVIEW

Please provide a brief overview of the intermediation activity during the month.  This discussion should

include a general commentary on the lending environment, loan demand, any changes in lending

standards and terms, and any other intermediation activity.

Company Description

BB&T Corporation (“BB&T”) is a regional financial holding company headquartered in Winston‐Salem,

North Carolina. BB&T conducts its business operations primarily through its commercial banking

subsidiary, Branch Banking and Trust Company, which has banking offices in North Carolina, South

Carolina, Virginia, Maryland, Georgia, West Virginia, Tennessee, Kentucky, Alabama, Florida, Indiana,

Washington, D.C., Texas and Nevada.  In addition, BB&T’s operations consist of several nonbank

subsidiaries, which offer financial services products. Substantially all of BB&T’s loans are made to

businesses and individuals in these market areas.  

Overall Loan Growth

Average loans and leases for the month of October totaled $106 billion, an increase of 7.0% compared

to October 2008, but down from $106.8 billion in September 2009. Specialized lending subsidiaries

decreased $43.5 million over the same time period and commercial loans and leases decreased $192.5

million. Mortgage loans, excluding loans held for sale, decreased $19.3 million because most of BB&T’s

mortgage production is being sold.

Commercial Loans and Leases

The commercial loan and lease portfolio represents the largest category of BB&T’s loans. It is

traditionally targeted to serve small to middle market businesses. BB&T continues to focus on

diversifying the commercial portfolio by growing commercial and industrial loans at a faster rate than

commercial real estate loans. Average C&I loans, excluding leveraged leases and loans originated in

BB&T’s specialized lending group, increased approximately 2.36% compared to October 2008 and

average balances increased 2.48% on an annualized basis compared to September 2009.  

Commercial real estate

Overall new loan demand for commercial real estate slowed slightly compared to August. Average CRE

balances for the month of October, excluding loans originated by BB&T’s specialized lending group,

were down 2.6% compared to October 2008. Management continues to diversify the total loan portfolio

by lowering the overall exposure to real estate‐related loans.  
TREASURY MONTHLY INTERMEDIATION SNAPSHOT

Name of institution:  BB&T Corporation

Reporting month(s):  October 2009   

Submission date:  November 30, 2009

Person to be contacted regarding this report: Alan W. Greer

2

Consumer

New production continues to decline in most consumer portfolios as these markets continue to reflect

recession related weakness and overall lack of demand. Our October average direct retail portfolio,

including loans acquired from Colonial Bank, totals $14.4 billion, a decrease of 5.1% compared with the

October 2008 average balance. Management is continuing to consider and has implemented a number

of incentives for clients in an effort to improve direct retail production.

BB&T’s sales finance portfolio includes the origination of loans for the purchase of new and used

automobiles, boats and recreational vehicles through approved dealers within BB&T’s footprint. New

loan volume is highly seasonal. The sales finance portfolio, which totaled $6.5 billion on average for the

month of October, was up by 3.4% compared to October 2008.  Sales Finance loans were down

marginally compared to September 2009.   

Our Bankcard product line is positioned as a relationship product offered to prime credit BB&T retail

consumers and business clients. We are maintaining a consistent conservative posture with respect to

risk at account origination. Average revolving credit balances totaled $1.9 billion in the month of

October, an increase of 11.1% compared to October 2008.

Residential Mortgage

Residential Mortgage originations totaled $1.68 billion in the month of October, down from $1.80 billion

in September. Application volume increased compared to October 2008 and remains significantly above

our plan.  The vast majority of current origination volume continues to be conforming or FHA / VA.

BB&T’s bank‐owned Residential Mortgage portfolio totaled $17.3 billion on average for the month of

October 2009, down 6.6% compared to October 2008.   

Capital Purchase Plan

The U.S. Treasury invested $3.1 billion in BB&T on November 14, 2008. BB&T pursued quality loans and

investments throughout 2008. Following receipt of the CPP funds and in the spirit of the program, BB&T

fully deployed the funds by levering the balance sheet through investments in GSE mortgage backed

securities and additional loan programs. These lending initiatives included efforts to lend across all

lending strata, particularly in areas that have been negatively affected by liquidity and funding

challenges.  BB&T has active lending initiatives in corporate lending, equipment leasing, insurance

premium finance and consumer lending.

On June 17, 2009, BB&T exited the Troubled Asset Relief Program by redeeming the preferred stock sold

to the U.S. Treasury Department under the Capital Purchase Program last November. On July 22, 2009,

BB&T repurchased warrants issued in connection with the TARP preferred shares.  
Name of institution: Capital One Financial Corporation Submission date: November 30, 2009 Person to be c

PART I. QUANTITATIVE OVERVIEW

SCHEDULE A: CONSUMER LENDING (Millions $) AUG SEP OCT Key 1. First Mortgagea. Average Loan Balance (Daily Average Total Outstanding) $11,946 $11,766 $11,584 Mortgage and Home Equity numbers for non‐Chevy Chase portfolios are end of month figures

rather than averages and include run‐off portfolio inherited from GreenPoint Mortgage. Chevy

Chase numbers are monthly averages.

b. Total Originations $112 $92 $89(1) Refinancings $65 $50 $50(2) New Home Purchases $47 $42 $39

2. Home Equity

a. Average Total Loan Balance $4,453 $4,411 $4,366 Mortgage and Home Equity numbers for non‐Chevy Chase portfolios are end of month figures

rather than averages and include run‐off portfolio inherited from GreenPoint Mortgage. Chevy

Chase numbers are monthly averages.

b. Originations (New Lines+Line Increases) $23 $18 $15

TREASURY MONTHLY INTERMEDIATION SNAPSHOT

The majority of 

assets are runni

outstandings.

2009

Fluctuations in v

in credit standar

1

c. Total Used and Unused Commitments $6,353 $6,284 $6,205

3. US Card ‐ Managed

a. Average Total Loan Balance ‐ Managed $49,509 $49,006 $48,140 US Card reflects only consumer card volumes; All numbers reflect managed portfolio

b. New Account Originations (Initial Line Amt) $389 $338 $244

c. Total Used and Unused Commitments $158,372 $157,867 $157,897

4. Other Consumer

a. Average Total Loan Balance $28,172 $27,662 $26,967 Other consumer non‐revolving include auto loans, unsecured installment loans and other non‐

revolving loans secured by boats, RVs, money‐market accounts, etc and ~ $220 million of

unsecured other consumer revolving lines.

b. Originations $617 $446 $367 For the small volume of revolving loans, the line extended is included in originations.

We’ve had to be 

nationwide orig

have been more 

continue to orig

Despite the wea

through our dire

we continue to e

introduced by th

1
SCHEDULE B: COMMERCIAL LENDING (Millions $) AUG SEP OCT Key 

1. C & Ia. Average Total Loan and Lease Balance $23,111 $22,946 $22,739 Small Business credit cards are included in C&I avg balance and new commitments numbers.

b. Renewal of Existing Accounts $163 $223 $189

c. New Commitments $226 $391 $302 Unutilized capacity of both small business cards and more broadly C&I lending is not captured

anywhere on the "Snapshot."

2. Commercial Real Estate

a. Average Total Loan and Lease Balance $18,599 $18,480 $18,327b. Renewal of Existing Accounts $39 $59 $41

c. New Commitments $78 $80 $2614. Small Business Loans3

a. Average Total Loan Balance $11,381 $11,216 $11,032

We continue to 

supply in some m

markets. The O

stress the deteri

has also softene

portfolio contin

SCHEDULE C: MEMORANDA ‐ SMALL BUSINESS LENDING (Millions $)

Qualified C&I lo

financing of plan

and maintain a c

the economy, w

commitments an

2

b. Originations $40 $72 $64SCHEDULE D: OTHER INTERMEDIATION ACTIVITIES (Millions $)

1. MBS/ABS Net Purchased Volume

a. Mortgage Backed Securities $1,545 $989 $603b. Asset Backed Securities  ‐$450 $119 $4162. Secured Lending (Repo, PB, Margin Lending)a. Average Total Matched Book (Repo/Reverse Repo)1 n/a n/a n/a Secured Lending and Underwriting not applicable

b. Average Total Debit Balances2 n/a n/a n/a Secured Lending and Underwriting not applicable3. Underwriting

a. Total Equity Underwriting n/a n/a n/a Secured Lending and Underwriting not applicable

b. Total Debt Underwriting n/a n/a n/a Secured Lending and Underwriting not applicable

Asset Backed Se

receivables.

Notes:3. Memoranda: these loans are already accounted for in either consumer lending, commercial lending, or a combination of both, and include loans guaranteed by the Small Business Administration and/or any other loans that are internally classified as small business loans.

2. Applicable only for institutions offering prime brokerage or other margin lending services to clients.

1. Not applicable if matched book activity does not exceed $50 billion.

2
TREASURY MONTHLY INTERMEDIATION SNAPSHOT

Name of institution:  Capital One Financial Corporation

Reporting month(s):  August ‐October 2009   

Submission date:  November 30, 2009

Person to be contacted regarding this report:  Kevin Murray

1

PART II.  QUALITATIVE OVERVIEW

Please provide a brief overview of the intermediation activity during the month.  This discussion should

include a general commentary on the lending environment, loan demand, any changes in lending

standards and terms, and any other intermediation activity.

Capital One Financial Corporation (Capital One) is a bank holding company with subsidiary banks serving

consumers, small businesses, middle‐market firms, and commercial real‐estate firms in New York, New

Jersey, Louisiana, Texas and the Washington D.C. metropolitan area; credit card and auto loan

customers throughout the United States; and credit card customers in Canada and the UK.  

Headquartered in McLean, Virginia, Capital One’s subsidiaries have over 1,000 branches and other

locations, primarily in New York, New Jersey, Louisiana, Texas, Maryland, Virginia and the District of

Columbia.  Capital One, through its bank subsidiaries, offers a broad spectrum of financial products and

services to consumers, small businesses and commercial clients.  

Consumer Lending

After several months of relative stability, unemployment rose by 0.40% in the month of October to

reach 10.2%.  The primary driver of the unemployment increase in October is the continued difficulty in

securing new employment amongst the already unemployed.  The Bureau of Labor Statistics reported

that 190,000 jobs were lost in October, a decrease of 73,000 from the September figure of 263,000.  The

pace of new Unemployment Insurance claims dipped slightly below the 500,000 per week level at

496,500, but remains at recessionary levels.  The Case‐Shiller 20‐City home price index reported a year‐

over‐year decline in home prices of 8.9% for Q3 2009.  However, while the index remains 27.8% below

its June 2006 peak, the pace of decline in home prices seems to be slowing.   Consumer confidence

improved somewhat, and consumer spending also showed early signs of improving but consumer

spending remains below 2008 levels.  Revolving credit continues to decline as a result of persistent

caution on the part of consumers.  

Given the current economic conditions, Capital One expects that seasonally -adjusted loan balances and

demand for additional credit cards from credit worthy consumers will continue to decline over the

medium term.  Even so, Capital One extended more than $970 million in additional credit to new card

customers during the past three months ending October 2009.   

Other consumer lending continued to decline in line with factors such as overall consumer spending.  

Part of the decline in our other consumer lending balances is driven by our decision to effectively shut
TREASURY MONTHLY INTERMEDIATION SNAPSHOT

Name of institution:  Capital One Financial Corporation

Reporting month(s):  August ‐October 2009   

Submission date:  November 30, 2009

Person to be contacted regarding this report:  Kevin Murray

2

down our nationwide origination programs for unsecured consumer closed‐end loans.  We continue to

originate auto loans nationwide, and other consumer loans in our footprint regions.  Capital One

originated $1.4 billion in “other consumer loans”, such as auto loans in the three months ended October

2009.    

Commercial and Small Business Lending and Commercial Real Estate Lending

Commercial and Industrial lending balances declined slightly over the three months ending October

2009.  C&I loan demand remains soft driven by decreasing needs for the financing of plant, equipment,

inventory and accounts receivable as businesses shrink their balance sheets and maintain a cautious

outlook in the face of economic uncertainty.   Not withstanding deteriorating economic conditions, we

continue to make new C&I loans across a variety of industry segments as evidenced by our just under

$1.5 billion in new commitments and renewals of existing commitments in the three months through

October 2009.

In Commercial Real Estate, we see continued softness in construction and development activity due to

limited demand for new space and actual excess supply in some sub‐markets.  This has translated into

significant declines in new construction projects in all of our markets.  The Office market has softened as

firms continue to downsize their staff.   The Retail market has also softened as many retailers have cut

back expansion plans or gone into bankruptcy.  We are watching rents and vacancies in retail and office

space closely.  We nevertheless continue to make new Commercial Real Estate loans booking, extending

just over $550 million dollars in new commitments and renewals of existing commitments in the three

months through October 2009.

Investment Activity in Support of Consumer Lending

The financial markets have continued to stabilize.  We saw further improvements in non‐agency MBS

pricing and CMBS pricing as the result of continued government market intervention, expanded

government support (CMBS TALF) and further signs of economic improvement.  We expect increased

volatility in Agency MBS pricing as the Federal Reserve’s mortgage purchase program starts to wind

down over the next few quarters and prepayments due to agency buyouts and HAMP begin to flow

through.  Despite expectations of higher unemployment, spreads look to continue their tightening trend

as investors’ risk appetite increases and asset valuations continue to rise.

To the extent that falling loan demand continues to limit the extension of new credit directly to our

customers, we will continue to purchase high quality securities backed by mortgage and consumer

loans.  Most often, these loans were originated to help consumers to buy homes, autos and a range of
TREASURY MONTHLY INTERMEDIATION SNAPSHOT

Name of institution:  Capital One Financial Corporation

Reporting month(s):  August ‐October 2009   

Submission date:  November 30, 2009

Person to be contacted regarding this report:  Kevin Murray

3

discretionary items.  In the three months through October 2009, we continued to make purchases in

Agency MBS and consumer ABS.  In aggregate, net purchase volume of MBS and ABS was just over $3.2

billion in the three months ending October 2009.   Individual balances have fluctuated as we have sold

out of some positions and bought into others.  For example, we sold our CMBS positions (included in

ABS volume numbers) in response to improved pricing and degrading fundamentals.  Additionally, we

sold a number of our Fannie Mae and Freddie Mac backed MBS and used the proceeds to purchase

Ginnie Mae backed MBS given the recent pricing in that sector and the advantageous regulatory capital

treatment they offer.  In the current economic and market environment, we continue to believe that

investing in high‐quality securities provides appropriate risk‐adjusted returns for our shareholders, and

supports the continued recovery and stabilization of secondary markets that are critical to consumer

lending and the economy.
Name of institution: CIT Group Inc. Submission date: November 30, 2009 Person to be c

PART I. QUANTITATIVE OVERVIEW

SCHEDULE A: CONSUMER LENDING (Millions $) AUG SEP OCT Key 1. First Mortgagea. Average Loan Balance (Daily Average Total Outstanding) N/A N/A N/A

b. Total Originations N/A N/A N/A(1) Refinancings N/A N/A N/A(2) New Home Purchases N/A N/A N/A

2. Home Equity

a. Average Total Loan Balance N/A N/A N/Ab. Originations (New Lines+Line Increases) N/A N/A N/A

CIT is currently n

2009

CIT is currently n

TREASURY MONTHLY INTERMEDIATION SNAPSHOT

1

c. Total Used and Unused Commitments N/A N/A N/A

3. US Card ‐ Managed

a. Average Total Loan Balance ‐ Managed N/A N/A N/A

b. New Account Originations (Initial Line Amt) N/A N/A N/A

c. Total Used and Unused Commitments N/A N/A N/A

4. Other Consumer

a. Average Total Loan Balance $11,768 $11,673 $11,592 Consumer Lending assets consist primarily of our Student Lending business, which is in run‐off

mode and approximately 95% government guaranteed.

b. Originations $0 $0 $0

CIT ceased unde

CIT is currently n

1
SCHEDULE B: COMMERCIAL LENDING (Millions $) AUG SEP OCT Key 

1. C & Ia. Average Total Loan and Lease Balance $48,758 $47,328 $46,076 Included in the C & I asset balances is approximately $13.3 Billion of operating leases

b. Renewal of Existing Accounts $2,398 $2,399 $2,589 The Renewal of Existing Accounts is predominately from our Trade Finance business.

c. New Commitments $293 $295 $373 The bulk of our new commitments were generated from Global Vendor Finance.

2. Commercial Real Estate

a. Average Total Loan and Lease Balance $713 $634 $587 Some of our other businesses‐ Small Business Administration lending, and Energy financing, may

also have some of their loans secured by real estate. Those businesses are included in the

appropriate section of the report

b. Renewal of Existing Accounts $0 $0 $0

c. New Commitments $0 $0 $04. Small Business Loans3

a. Average Total Loan Balance $1,475 $1,471 $1,462 CIT is a leader in 

SBA Lender (bas

CIT's Commercia

SCHEDULE C: MEMORANDA ‐ SMALL BUSINESS LENDING (Millions $)

Our commercial 

‐  Corporate Fina

companies, thro

‐  Transportation 

aerospace, rail a

‐  Trade Finance

retail supply cha

‐  Vendor Financ

around the glob

2

b. Originations $13 $18 $9

SCHEDULE D: OTHER INTERMEDIATION ACTIVITIES (Millions $)

1. MBS/ABS Net Purchased Volume

a. Mortgage Backed Securities N/A N/A N/Ab. Asset Backed Securities N/A N/A N/A2. Secured Lending (Repo, PB, Margin Lending)a. Average Total Matched Book (Repo/Reverse Repo)1 N/A N/A N/A

b. Average Total Debit Balances2 N/A N/A N/A3. Underwriting

a. Total Equity Underwriting N/A N/A N/A

b. Total Debt Underwriting N/A N/A N/A

CIT is currently n

CIT is currently n

CIT is currently n

Notes:3. Memoranda: these loans are already accounted for in either consumer lending, commercial lending, or a combination of both, and include loans guaranteed by the Small Business Administration and/or any other loans that are internally classified as small business loans.

2. Applicable only for institutions offering prime brokerage or other margin lending services to clients.

1. Not applicable if matched book activity does not exceed $50 billion.

2
TREASURY MONTHLY INTERMEDIATION SNAPSHOT

Name of institution:  CIT Group Inc

Reporting month(s):  October 2009   

Submission date:  November 30, 2009

Person to be contacted regarding this report:   Peter Justini

PART II.  QUALITATIVE OVERVIEW

Please provide a brief overview of the intermediation activity during the month.  This discussion should

include a general commentary on the lending environment, loan demand, any changes in lending standards

and terms, and any other intermediation activity.

Transportation Finance – Business Aircraft

Markets are not forecasted for an up‐turn prior to mid‐2010.  The Business Air markets remain slow due to

economic conditions and lack of available financing.  Asset values have decreased 23% since Q1 2008.  

However, the market for most models of corporate aircraft has begun to stabilize.   

Transportation Finance – Commercial Aircraft

Consistent with the previous month, for the remainder of the year we expect pressure on margin, reflecting

lower lease rates on new deliveries and newly remarketed aircraft; as well as a decrease on asset sale gains,

as continued illiquidity in the market impacts buyers and their ability to finance used aircraft.  Commercial

Air earnings exceeded plan in Q3 and are on target for full year; margin challenges due to the softness in

the market are being off‐set by lower charge‐offs and more frequent sales of hard assets.   

Transportation Finance – Rail Cars

Market conditions seemed to be stabilizing; however, year to date rail loadings are down nearly 20% from

2008 levels.   Carriers and shippers continue to shed costs and rationalize fleets.  In this market

environment, the goal for many companies is to sacrifice rate to keep rail cars on lease.    

Leveraged Finance (relative to the Transportation Sector)

Loan demand relative to M&A driven financing has decreased significantly, but post summer uptick activity

is still expected.

Corporate Finance / Loan Syndication

The market experienced its busiest month of the year in October with the loan market gaining speed

alongside an already vibrant fixed income market. In October, CIT experienced an additional $5.8B of new

institutional loan volume and along with September, the two month total of over $11B compares very

favorably versus the $14B for the first eight months of the year. Furthermore, deals that broke for trading

totaled $5.2B in October up from $2.5B in September and $800MM in August. October’s volume was the

highest monthly total since Lehman’s bankruptcy  

The S&P loan leverage index average posted its 10th consecutive monthly gain of .55%.    The markets

continued appetite for risk is more notably displayed in loans with a “CCC” credit rating which rose another

2.4%, secondary liens increased 3.7% and mid market increased by 2.4%.  Overall, secondary loan pricing

was relatively stable in October as investors have turned their focus to new issuance.   Overall, investors are

scrambling to deploy their cash by year‐end and thus have fueled the new issuance market in addition to
TREASURY MONTHLY INTERMEDIATION SNAPSHOT

Name of institution:  CIT Group Inc

Reporting month(s):  October 2009   

Submission date:  November 30, 2009

Person to be contacted regarding this report:   Peter Justini

compressing spreads. Both the high yield and loan markets should remain busy through year‐end as issues

still want to tap into the hot market.  

Trade Finance

Conditions in the marketplace remain unchanged from the previous month; loan demand from our

continuing client base is down slightly compared with last year and demand from new clients is significantly

reduced.  We continue to observe a decrease in liquidity as the money center and regional banks have

returned to much higher standards regarding loan documentation, loan covenants and collateral

perfection.   

Vendor Finance

CIT’s Vendor Finance “VF” lending levels are down month over month and are down as compared to prior

year.  Consolidation of funding sources within the global vendor markets has increased the overall demand

for VF type products and services, but CIT’s financial situation has negatively impacted third party

arrangements which have also reduced lending ability.    

There was limited global syndication activity in the month of October as a result of the limited liquidity in

the markets and CIT’s uncertainty.  Traditional syndication investors (one off deals and portfolio

acquisitions) are being careful on their investments and have moved to a “flight to quality”; investors are

looking for:

• Investment grade deals  

• Focused on mid to large ticket transactions (no small ticket), resulting in higher margins  

As for the macroeconomics across the Vendor Finance business segments, CIT is seeing/ experiencing the

following:

• Canada ‐ showing signs of stabilization, but remains in a recession with forecasts for 2009 ‐ GDP at

2.5%, unemployment at 8.5% and inflation at .4%;

• Latin American ‐ economy showing signs of improvement, with improving US signs offering hope

for growth in Q3 to Q4; Brazil looks particularly strong;

• Europe UK ‐ economy showing some signs of the rate of decline slowing, with the UK forecasting

positive GDP in Q4;

• Europe Continental Europe – Germany and France reported positive growth in Q3 and other

countries in the Euro‐zone anticipating positive growth in 2010;

• US ‐ economy appears to be turning the corner; however economic indicators continue to be

mixed/negative.
TREASURY MONTHLY INTERMEDIATION SNAPSHOT

Name of institution:  CIT Group Inc

Reporting month(s):  October 2009   

Submission date:  November 30, 2009

Person to be contacted regarding this report:   Peter Justini

Small Business Lending

CIT Small Business Lending (SBL) continued to provide financing to small businesses but at a level 50%

below the previous month. The reduction is attributed to the unwillingness of borrowers to enter into

transactions given the possibility of an uncontrolled CIT bankruptcy.

Loan demand from small businesses remained tepid as confidence, although slightly improved, it is still

near historic lows. The recent announcement of a 10% unemployment rate will not encourage small

businesses to seek new financing. Several factors, however, may offset the impact of dismal unemployment

on loan demand. First, the economy registered 3.5% annualized growth during the third quarter spurred by

a similar increase in consumer spending.  Secondly, many small businesses will need to replace existing

debt as their loans mature and availability under lines of credit is reduced.  

An improving economic environment has yet to impact most small businesses, many of which have suffered

declines in revenues that will take many months to recoup. To preserve creditworthiness in this

environment, many small businesses are reducing expenses including employment. According to ADP, job

cuts by small businesses exceeded those of mid‐sized and large enterprises in August and September.  

Previously, small business job losses had never outstripped those of mid‐sized and large companies.  

Liquidity, as measured by Small Business Administration “SBA” secondary activity is strong with very

favorable pricing for sellers. The pricing is partially based on the lack of supply given substantially fewer

loans being offered for sale. The supply of loans will be further reduced with the reversion of the SBA

guaranty percentage to 75% from 90% and reinstatement of loan fees. Those temporary changes were part

of administration’s economic stimulus package announced earlier this year.  

As cited above, the macroeconomic environment has improved by some measures. Unfortunately,

unemployment which has the greatest impact on small businesses is still rising. Consequently, the

prospects for a “jobless recovery” are troubling.  

Consumer Lending

We are beginning to see the seasonality impact on our student lending portfolio, with an increase in

delinquencies.  This increase is observed every year in Q4 and before the end of Q1, we see the numbers

stabilize. Consumers typically are slow payers during the holiday period and eventually get back on track

sometime in Q1 as cash becomes more available and tax refunds are collected.  The Consumer unsecured

portfolio continues to liquidate quickly. The charge‐off number continues to show a positive trend while in

prior years the portfolio consistently experienced deterioration in Q4.
Name of institution: Citigroup Submission date: November 30, 2009 Person to be c

PART I. QUANTITATIVE OVERVIEW

SCHEDULE A: CONSUMER LENDING (Millions $) AUG SEP OCT Key 1. First Mortgagea. Average Loan Balance (Daily Average Total Outstanding) $140,747 $139,414 $136,759 Consists of residential whole loans. Excludes assets classified as trading assets that are not part of

the core mortgage portfolio.

b. Total Originations $4,845 $3,317 $3,297 Originations includes new loans whether for refinancing of an existing home or the purchase of a

home. It does not include troubled debt restructurings which usually includes a restructuring of

terms and not additional extensions of credit.

(1) Refinancings $1,995 $1,836 $1,821 If on a refinancing, amounts were added to the existing loan balance, the total amount of the new

loan is reported. Originations include both loans originated for the balance sheet as well as loans

originated for sale.

(2) New Home Purchases $484 $428 $446

2. Home Equity

a. Average Total Loan Balance $63,246 $62,534 $61,890 Includes HELOC and 2nd mortgages.

b. Originations (New Lines+Line Increases) $175 $104 $93 If a line is increased, only the amount of the increase is included in originations. If we originated a

new HELOC or 2nd, we included the amount drawn in the Ending and Average Balances, and we

included the total new line in originations.

Citi originated $

volumes reporte

mortgage loan b

investment loan

loans sold in con

investment. Sal

loan origination

2009

Home equity loans 

loan broker purcha

included in Citi's lo

efforts and assistin

contacted Citi rega

at risk. As in previo

helping homeowne

Program the CitiFi

TREASURY MONTHLY INTERMEDIATION SNAPSHOT

1

c. Total Used and Unused Commitments $81,232 $80,404 $80,119

3. US Card ‐ Managed

a. Average Total Loan Balance ‐ Managed $141,564 $140,809 $140,105 Balances do not include commercial card activity.

b. New Account Originations (Initial Line Amt) $6,359 $6,689 $5,672

c. Total Used and Unused Commitments $825,781 $830,877 $816,464

4. Other Consumer

a. Average Total Loan Balance $59,029 $58,703 $57,798 Includes auto, student and personal loans. Student loans includes related deferred fees and lines

of credit with schools (which are secured by student loans).

b. Originations $1,804 $1,384 $822

Program, the CitiFi

approximately 6,90

Auto Loans: Originat

government incentiv

network, and are dow

month, but remain e

Student Loans: Decli

Personal Installment 

Purchase sales w

receivables were 

prior month. To

continued to pa

increased 71% f

October.

1
SCHEDULE B: COMMERCIAL LENDING (Millions $) AUG SEP OCT Key 

1. C & Ia. Average Total Loan and Lease Balance $30,826 $28,605 $27,002 Renewals and new commitments are on a facility basis. Facilities may include L/Cs. Renewals

represent credit facilities that expired/matured and were renewed during the period.

b. Renewal of Existing Accounts $736 $2,758 $880

c. New Commitments $124 $660 $1,1712. Commercial Real Estate

a. Average Total Loan and Lease Balance $25,105 $24,917 $24,531 Renewals and new commitments are on a facility basis. Facilities may include L/Cs. Renewals

represent credit facilities that expired/matured and were renewed during the period.

b. Renewal of Existing Accounts $192 $103 $407

c. New Commitments $403 $264 $158SCHEDULE C: MEMORANDA ‐ SMALL BUSINESS LENDING (Millions $)

4. Small Business Loans3

a. Average Total Loan Balance $9,988 $9,831 $9,846

Average comme

Average balance

Average balance

facility, increase

2

b. Originations $132 $143 $131SCHEDULE D: OTHER INTERMEDIATION ACTIVITIES (Millions $)

1. MBS/ABS Net Purchased Volume

a. Mortgage Backed Securities $860 ‐$644 ‐$897 Does not include maturities and pay downs. Net Purchased Volume is reported using cost basis.

b. Asset Backed Securities $189 $762 $5632. Secured Lending (Repo, PB, Margin Lending)

a. Average Total Matched Book (Repo/Reverse Repo)1 $144,103 $145,478 $144,434 Average Total Matched Book (Repo/Reverse Repo) is before FIN 41 netting. Includes security

lending activity.

b. Average Total Debit Balances2 $16,605 $16,187 $15,702

3. Underwriting

a. Total Equity Underwriting $76 $100 $55 Equity Underwriting represents Citi's portion of underwritten issue.

b. Total Debt Underwriting $8,130 $27,859 $16,615 Debt underwriting represents Citi's portion of underwritten issue and extensions of credit to

finance specific individual Community Development projects that are in bond form.

There were a to

$17B. There wer

September for $

deals in Septem

to lower average 

MBS: Purchases 

Septmber and n

ABS: decrease d

Notes:3. Memoranda: these loans are already accounted for in either consumer lending, commercial lending, or a combination of both, and include loans guaranteed by the Small Business Administration and/or any other loans that are internally classified as small business loans.

2. Applicable only for institutions offering prime brokerage or other margin lending services to clients.

1. Not applicable if matched book activity does not exceed $50 billion.

2
TREASURY MONTHLY INTERMEDIATION SNAPSHOT

Name of institution:    Citigroup

Reporting month(s):    October 2009   

Submission date:    November 30, 2009

Person to be contacted regarding this report:   Carol Hayles or Peter Bieszard

1

PART II.  QUALITATIVE OVERVIEW

Please provide a brief overview of the intermediation activity during the month.  This discussion should

include a general commentary on the lending environment, loan demand, any changes in lending

standards and terms, and any other intermediation activity.

Company description:  Citigroup Inc. (“Citi”) does business in the United States through Citibank, Citi

Institutional Clients Group, The Citi Private Bank, Primerica, Diners Club, CitiFinancial, CitiMortgage and

Citi Cards.   

All data cited below reflect comparisons to September 2009, unless otherwise noted.

Consumer Lending:  Citi originated $9.9 billion in loans to U.S. consumers and small businesses in

October, down 14.0 percent from September.  Continued economic weakness and high savings rates

constrained loan demand during the month, while unemployment rose to 10.2 percent in October, from

9.8 percent in September.  

First mortgage originations of $3.3 billion were flat compared with September, and lower than earlier in

the year, reflecting reduced loan origination from third party channels.  Average mortgage loan balances

declined 1.9 percent from September to $136.8 billion.

Average home equity loan balances totaled $61.9 billion, declining 1.0 percent from September.   Used

and unused commitments were $80.1 billion, down 0.4 percent from September.

As in previous months, Citi continued to expand participation in its loss mitigation efforts and programs

focused on helping homeowners facing financial difficulty to modify their loans.  Through initiatives like

the Citi Homeownership Assistance Program, the CitiFinancial Home Affordable Mortgage Program and

the Home Affordable Mortgage Program, Citi modified approximately 6,900 first mortgage and home

equity loans with a total value of more than $1 billion in October.  

The challenging economic environment further impacted credit card lending in October, although

purchase sales increased by 2 percent from September levels.  New credit lines issued to eligible

borrowers totaled $5.7 billion, declining 15.2 percent from September.  Used and unused commitments

in October were $816.5 billion, or down 1.7 percent month‐to‐month.  Average consumer credit card

balances declined moderately again in October, down 0.5 percent from the previous month to $140.1

billion.

Citi continues to provide help for card members facing financial challenges through its expanded

eligibility forbearance programs.  More than 176,000 card members enrolled in these programs during

October.  Total balances covered by Citi’s forbearance programs increased 3 percent from September

and were up 71 percent from October 2008.
TREASURY MONTHLY INTERMEDIATION SNAPSHOT

Name of institution:    Citigroup

Reporting month(s):    October 2009   

Submission date:    November 30, 2009

Person to be contacted regarding this report:   Carol Hayles or Peter Bieszard

2

Average total loan balances for other consumer lending activities declined by 1.5 percent in October to

$57.8 billion.  Total originations in other consumer lending decreased to $821.8 million, or 40.6 percent

lower than in September, driven by volume declines in auto and student loans.  Auto loan origination

volume declined by 19 percent from September, consistent with a decline in vehicle sales after

government incentive programs ended.  As in September, student loan balances declined due to the sale

of loans to the U.S. Department of Education under the Loan Purchase Program and seasonal loan

origination volume trends.  Personal installment loan originations also decreased in October, reflecting

tighter lending standards.

Commercial Lending:  Commercial lending in October reflected a lower level of market activity in

Investment Grade underwriting, as compared to September.  Corporate loan originations, including

underwriting, declined to $19.3 billion, or down 39.2 percent from September.  New Commercial and

Industrial (C&I) loan commitments totaled $1.2 billion in October, as a result of refinancing activity.  

Average C&I loan balances declined to $27.0 billion, down 5.6 percent from September.

Average total Commercial Real Estate (CRE) loan and lease balances declined 1.6 percent to $24.5

billion.  Existing loan renewals increased nearly three‐fold to $406.8 million, while new loan

commitments totaled $158.2 million, 40.1 percent lower than in September.   

Other Intermediation Activities:  Citi recorded net sales of $334 million in mortgage‐ and asset‐backed

securities (MBS/ABS) in October. MBS activity reflected a decline due to overall market conditions.

Citi’s total debt underwriting decreased to $16.6 billion in October, from $27.9 billion in the prior

month. High yield underwriting activity included 35 deals totaling $14.8 billion, compared with 33 high

yield transactions with a cumulative value of $17.1 billion in September.  Citi lead managed 14 deals

with an aggregate value of $1.8 billion. Citi also participated in 88 investment grade transactions with a

total value of $55.9 billion in October, compared with 139 deals totaling $73.6 billion in September. Citi

was lead manager of 51 of the October deals with a total value of $19.7 billion. In addition, Citi

participated in a total of 82 equity and linked deals in October, compared with 100 deals in September.  

The aggregate value of the October deals was $15.6 billion, compared with $18.2 billion in September.  

Citi lead managed 18 of these deals totaling $3.0 billion.
Name of institution: COMERICA INCORPORATED Submission date: 11/30/2009 Person to be c

PART I. QUANTITATIVE OVERVIEW

SCHEDULE A: CONSUMER LENDING (Millions $) AUG SEP OCT Key 1. First Mortgagea. Average Loan Balance (Daily Average Total Outstanding) $1,721 $1,690 $1,675 Consists of 1st lien 1‐4 family residential mortgage and construction loans originated by Comerica

Bank.

b. Total Originations $24 $31 $30 Consists of loans funded during the period, including those originated for sale.

(1) Refinancings $14 $18 $17(2) New Home Purchases $10 $13 $13

2. Home Equity

a. Average Total Loan Balance $1,797 $1,804 $1,803 Consists of both fixed and revolving home equity (2nd lien) loans.

b. Originations (New Lines+Line Increases) $11 $11 $18 Excludes commitments/originations where home equity collateral is provided for multiple

purposes (personal and business), which are included in Commercial Lending commitments

(Schedule B).

TREASURY MONTHLY INTERMEDIATION SNAPSHOT

First mortgage o

'09/$14M Septe

2009

October originat

1

c. Total Used and Unused Commitments $3,233 $3,239 $3,225

3. US Card ‐ Managed

a. Average Total Loan Balance ‐ Managed $51 $52 $56 Consists primarily of commercial bankcard loans.

b. New Account Originations (Initial Line Amt) $18 $37 $23 Includes new card loans funded during the period and new referrals to our consumer card partner.

c. Total Used and Unused Commitments $391 $408 $389

4. Other Consumer

a. Average Total Loan Balance $701 $693 $670 Consists of consumer installment loans (both secured and unsecured) and student loans.

b. Originations $33 $32 $37

October other co

New account or

'09/$9M August 

1
SCHEDULE B: COMMERCIAL LENDING (Millions $) AUG SEP OCT Key 

1. C & Ia. Average Total Loan and Lease Balance $26,044 $25,360 $24,654 Consists of loans for commercial and industrial purposes to both domestic and international

borrowers, lease financing and other non‐consumer, non‐real estate loans.

b. Renewal of Existing Accounts $2,734 $2,808 $2,032 Includes renewals of and increases to lines with existing customers.

c. New Commitments $619 $269 $333 Consists of binding commitments to new customers and new lines to existing customers, net of

participations sold. Includes commitments/originations where home equity collateral is provided

for multiple purposes (personal and business).

2. Commercial Real Estate

a. Average Total Loan and Lease Balance $14,403 $14,273 $14,187 Consists of loans made to businesses where 50% or more of the collateral is real estate (primarily

owner‐occupied) and loans made to businesses or developers for building construction.

b. Renewal of Existing Accounts $374 $488 $225 Includes renewals of and increases to lines with existing customers.

c. New Commitments $13 $83 $21 Consists of binding commitments to new customers and new lines to existing customers, net of

participations sold.

4. Small Business Loans3

a. Average Total Loan Balance $3,872 $3,836 $3,782 Includes Small Business Administration loans and loans to other entities generally with annual

sales of less than $10 million at initial relationship.

October comme

and $26M in the 

October new CR

the Specialty BuOctober originat

increases of $7M 

SCHEDULE C: MEMORANDA ‐ SMALL BUSINESS LENDING (Millions $)

October renewals d

International mark

markets, respectiv

Corporate Banking 

National Dealer Se

October new comm

Midwest, Western

market). By line of 

Corporate Banking

2

b. Originations $261 $294 $189 Consists of renewals and new commitments to both existing and new customers.

SCHEDULE D: OTHER INTERMEDIATION ACTIVITIES (Millions $)

1. MBS/ABS Net Purchased Volume

a. Mortgage Backed Securities $842 ‐$1,397 $0 Represents net purchases (gross purchases, net of gross sales) of mortgage‐backed securities (AAA‐

rated agency securities) for investment portfolio available‐for‐sale on a trade date basis. Excludes

principal paydowns.

b. Asset Backed Securities  ‐$17 ‐$8 ‐$10 Represents net purchases (gross purchases, net of gross sales) of asset‐backed auction‐rate

securities. Purchases were made as an accommodation to customers from October through

December 2008.

2. Secured Lending (Repo, PB, Margin Lending)

a. Average Total Matched Book (Repo/Reverse Repo)1 N/A N/A N/A

b. Average Total Debit Balances2 N/A N/A N/A3. Underwriting

a. Total Equity Underwriting $0 $0 $0 Amount of equity securities underwritten where the Corporation was manager or co‐manager of

the issue. All done on "best efforts" basis.

b. Total Debt Underwriting $3,629 $14,336 $9,508 Amount of debt securities underwritten where the Corporation had either a manager or co‐

manager role. All done on "best efforts" basis.

Notes:3. Memoranda: these loans are already accounted for in either consumer lending, commercial lending, or a combination of both, and include loans guaranteed by the Small Business Administration and/or any other loans that are internally classified as small business loans.

2. Applicable only for institutions offering prime brokerage or other margin lending services to clients.

1. Not applicable if matched book activity does not exceed $50 billion.

2
TREASURY MONTHLY INTERMEDIATION SNAPSHOT

Name of institution:  COMERICA INCORPORATED

Reporting month(s):  October 2009   

Submission date:  November 30, 2009

Person to be contacted regarding this report:  Darlene Persons

1

PART II.  QUALITATIVE OVERVIEW

Please provide a brief overview of the intermediation activity during the month.  This discussion should

include a general commentary on the lending environment, loan demand, any changes in lending

standards and terms, and any other intermediation activity.

Comerica Incorporated is a financial services company headquartered in Dallas, Texas.  Comerica

Incorporated is strategically aligned into three major business segments: the Business Bank, the Retail

Bank and Wealth & Institutional Management, and operates in four primary markets: Texas, the

Midwest (primarily Michigan), Western (primarily California and Arizona) and Florida.   

The principal focus of Comerica Incorporated is to meet the needs of small and medium‐sized

businesses, multinational corporations and governmental entities through various products and services

including loans and lines of credit, letters of credit, deposits,  international trade finance and other

services.  The Business Bank, which includes all business customers except for small business,

traditionally accounts for at least two‐thirds of net interest income. In addition to serving the needs of

businesses, Comerica Incorporated also offers a variety of consumer products, including deposit

accounts, installment loans, credit cards, home equity lines of credit and residential mortgage loans.

Fiduciary services, private banking, retirement services and other wealth management services are also

provided.

Due to deteriorating economic conditions in our markets in early 2008, especially in California and

Michigan, Management began a process intended to reduce business loans and commitments to

preserve capital and generate appropriate loan pricing for current risks. With the receipt of TARP

proceeds, Management's focus moved toward establishing new and expanding existing lending

relationships, with appropriate pricing and credit standards. While economic recovery appears to be

underway, loan demand remains subdued as loan growth typically lags other economic indicators.  

Comerica Incorporated has historically focused on appropriate and consistent underwriting standards

and, while continuing to tighten controls, has not significantly tightened its underwriting standards

during the Snapshot reporting periods of October 2008 through October 2009.

Consumer Lending  

Consumer lending activity in October compared to September 2009 varied across the lending categories.  

Originations in the Home Equity and Other Consumer categories increased while residential lending

activity was flat.  Application volumes in the Home Equity lending category increased in October

compared to September 2009.  Other Consumer and Residential Mortgage application volumes

decreased in October from September 2009.

In addition to direct consumer residential mortgage activity, residential mortgage lending was also

facilitated through lending to commercial customers in our Mortgage Banker and Financial Services
TREASURY MONTHLY INTERMEDIATION SNAPSHOT

Name of institution:  COMERICA INCORPORATED

Reporting month(s):  October 2009   

Submission date:  November 30, 2009

Person to be contacted regarding this report:  Darlene Persons

2

Divisions.  Renewals and new commitments of $56 million were booked in the Mortgage Banker and

Financial Services Divisions in October 2009.

Commercial Lending

C&I lending renewals decreased in October from September.  The decrease was concentrated primarily

in the Middle Market division with decreases also in our Small Business, Global Corporate Banking,

Specialty Businesses and Private Banking divisions.  The decreases were partially offset by increases in

our National Dealer Services and Commercial Real Estate lending divisions.  By market, the decrease was

concentrated largely in our Midwest and Western markets, partially offset by increases in the Florida,

Texas and National/Other markets.  C&I new commitments increased in October from September 2009

primarily in the Midwest and Western markets.  

Commercial real estate renewals and new commitments decreased in October from September 2009.  

The decreases in both categories were concentrated primarily in the Specialty Businesses (Mortgage

Banker) lending division.

  

Small Business Lending

The Small Business division focuses on meeting the needs of entities with annual sales of generally less

than $10 million at initial relationship, which is consistent with the definition of a company that is not

national in scope.  The Small Business division includes SBA lending.  Small Business C&I and CRE

renewals decreased in October from September 2009.  The decreases were in our Midwest market,

partially offset by increases in the Western and Texas markets.  Small Business C&I new commitments

increased slightly in October 2009.

  

Other Intermediation Activities

  

Debt underwriting in which our broker/dealer subsidiary participated as a manager or a co‐manager

during October 2009 totaled $9.5 billion, providing access to liquidity for municipalities and corporate

customers.
Name of institution: Fifth Third Bancorp Submission date: November 30, 2009 Person to be c

PART I. QUANTITATIVE OVERVIEW

SCHEDULE A: CONSUMER LENDING (Millions $) AUG SEP OCT Key 1. First Mortgagea. Average Loan Balance (Daily Average Total Outstanding) $11,804 $11,236 $11,072 Average balance consists of 1‐4 family residential mortgage loans consistent with the classification

of the FR Y9C report. This includes loans held for sale and held for investment.

b. Total Originations $1,518 $1,411 $1,668(1) Refinancings $961 $922 $1,117(2) New Home Purchases $557 $489 $551

2. Home Equity

a. Average Total Loan Balance $11,869 $11,828 $11,761 Average balance consists of HELOC and HELOAN accounts consistent with the classification of the

FR Y9C report.

b. Originations (New Lines+Line Increases) $101 $100 $94

TREASURY MONTHLY INTERMEDIATION SNAPSHOT

Total origination

of refinancing ac

2009

Fifth Third exten

1

c. Total Used and Unused Commitments $19,934 $19,847 $19,828

3. US Card ‐ Managed

a. Average Total Loan Balance ‐ Managed $2,231 $2,248 $2,258 Average balance consists of US cards for consumer obligors only, consistent with the classification

of the FR Y9C report. Business cards are included in C&I balances.

b. New Account Originations (Initial Line Amt) $107 $124 $125

c. Total Used and Unused Commitments $11,467 $11,374 $11,260

4. Other Consumer

a. Average Total Loan Balance $9,461 $9,517 $9,474 Average balance consists of auto and other consumer loans and leases consistent with the

classification of the FR Y9C report.

b. Originations $499 $313 $304

Other consumer 

slight decrease o

October new cre

September.

1
SCHEDULE B: COMMERCIAL LENDING (Millions $) AUG SEP OCT Key 

1. C & Ia. Average Total Loan and Lease Balance $28,706 $28,200 $27,480 Average balance consists of non‐real estate commercial loans and leases consistent with the

classification of the FR Y9C report. This includes business cards.

b. Renewal of Existing Accounts $1,602 $2,160 $1,750 Includes renewed funded loans and renewed commitments.

c. New Commitments $780 $846 $830 Includes new commitments both funded and unfunded

2. Commercial Real Estate

a. Average Total Loan and Lease Balance $18,521 $18,322 $18,084 Average balance consists of real estate secured commercial loans consistent with the classification

of the FR Y9C report.

b. Renewal of Existing Accounts $417 $822 $443 Includes renewed funded loans and renewed commitments.

c. New Commitments $76 $188 $153 Includes new commitments both funded and unfunded

4. Small Business Loans3

a. Average Total Loan Balance $5,404 $5,383 $5,354 Small business loans are those classified as small business under standards established by Fifth

Third Bank. These loans are already presented within the C&I and CRE categories. Thus, this

disclosure is a subset of schedule B items 1 and 2.

New CRE comm

million in Septem

versus Septemb

Small Business c

million in Septem

SCHEDULE C: MEMORANDA ‐ SMALL BUSINESS LENDING (Millions $)

New C&I commi

in September 20

September 2009 

2

b. Originations $245 $393 $247SCHEDULE D: OTHER INTERMEDIATION ACTIVITIES (Millions $)

1. MBS/ABS Net Purchased Volume

a. Mortgage Backed Securities $223 $65 $492 Consists of MBS purchases less sales for the month.

b. Asset Backed Securities  ‐$177 ‐$92 $41 Consists of ABS purchases less sales for the month.

2. Secured Lending (Repo, PB, Margin Lending)

a. Average Total Matched Book (Repo/Reverse Repo)1 NA NA NA

b. Average Total Debit Balances2 NA NA NA3. Underwriting

a. Total Equity Underwriting NA NA NA

b. Total Debt Underwriting $1,133 $1,395 $598

October investm

securities. ABS 

Notes:3. Memoranda: these loans are already accounted for in either consumer lending, commercial lending, or a combination of both, and include loans guaranteed by the Small Business Administration and/or any other loans that are internally classified as small business loans.

2. Applicable only for institutions offering prime brokerage or other margin lending services to clients.

1. Not applicable if matched book activity does not exceed $50 billion.

2
TREASURY MONTHLY INTERMEDIATION SNAPSHOT

Name of institution:  Fifth Third Bancorp

Reporting month(s):  October 2009   

Submission date:  November 30, 2009

Person to be contacted regarding this report:  Blane Scarberry

1

PART II.  QUALITATIVE OVERVIEW

Please provide a brief overview of the intermediation activity during the month.  This discussion should

include a general commentary on the lending environment, loan demand, any changes in lending

standards and terms, and any other intermediation activity.

Commercial sections

CRE:  Average CRE balances decreased by approximately 1.3% in October 2009 compared to September

2009.  New CRE commitments originated in October 2009 were $153 million, which was down slightly

from $188 million in September 2009.  Even though originations were higher in September and October,

payments and dispositions of troubled CRE outpaced the higher levels of new commitments causing the

overall balances to continue to decline.  Renewal levels for existing accounts decreased in October 2009

to $443 million versus September 2009 at $822 million due to seasonal trends.  Fifth Third continues to

suspend lending on new non‐owner occupied properties and on new homebuilder and developer

projects in order to manage existing portfolio positions. We believe this is prudent given that we do not

believe added exposure in these sectors is warranted and given our expectations for continued negative

trends in the performance of those portfolios.

C&I:  Average C&I balances decreased by approximately 2.6% in October 2009 compared to September

2009 as new loans were more than offset by borrowers continuing to deleverage their balance sheets.  

New C&I commitments originated in October 2009 decreased slightly to $830 million compared to $846

million in September 2009.  Renewal levels for existing accounts in October 2009 of $1.750 billion were

down from September 2009 at $2.160 billion.  Lending in the Commercial segments continues to

qualified borrowers exhibiting average risk or better.  Continued emphasis is placed on prudent

underwriting and demonstrated ability to repay as we are seeing certain borrowers’ sales and profit

margins narrow and the number of business bankruptcies increase.  Overall loan demand  has remained

soft as we are seeing caution in the view of the timing of a recovery in the economy from our C&I

borrowers, which varies by geography.   In general, customers continue to deleverage and increase

liquidity through asset sales and reduced inventories versus expanding operations and purchasing

equipment.   

The primary market for syndicated credit and large corporate deals remains soft in October 2009.  Given

the outlook for the economy, many companies continue to defer plans for capital expenditures and

inventory build, which in turn has reduced the need for financing.  Merger and acquisition activity

continued to remain slow in October.  Terms and covenants continue to be somewhat tighter than

usual, which has also served to constrain demand.  Credit spreads have narrowed somewhat in recent
TREASURY MONTHLY INTERMEDIATION SNAPSHOT

Name of institution:  Fifth Third Bancorp

Reporting month(s):  October 2009   

Submission date:  November 30, 2009

Person to be contacted regarding this report:  Blane Scarberry

2

months, including the non‐investment grade rating categories, which could favorably impact volume if

spreads continue to fall.

Small Business:  Average Small Business balances decreased by approximately 0.5% in October 2009

compared to September 2009.  Small Business commitments originated in October 2009 were $247

million, which was down from $393 million in September 2009.  Demand for Small Business credit has

been in a relatively stable range in 2009.  Business Banking loan originations continue to be made using

prudent underwriting standards.     

Overall, average total commercial loan and lease balances were down 2.1% in October 2009 compared

to September 2009.  We continue to actively work out problem loans and receive principal payments

from borrowers, which more than offset new loan volume in the month of October.  

Consumer sections

Consumer:  October 2009 overall loan demand for non‐mortgage consumer credit (home equity, credit

card and auto) was slightly down compared to September 2009 due to the decrease in auto and home

equity demand.   

October 2009 was another exceptional month for mortgage lending, driven by attractive interest rates.  

Total originations increased by more than $250 million for the month and totaled $1.7 billion driven by

over $1.1 billion of refinancing activity and in excess of $550 million of new home purchases.  We also

extended nearly $100 million of new home equity lines of credit during the month.

October new credit card extensions were $125 million, a slight increase over our $124 million of

extensions in September.  Other consumer loan originations, which include new car loans, were $304

million in October.  This was a slight decrease of approximately $9 million from September.   

During the month of October, Fifth Third continued to make prudent adjustments to consumer lending

standards, consistent with peer institutions as reported by the Federal Reserve and as observed in the

market.  Fifth Third enhanced credit requirements for non real estate lending due to projected further

stress within the U.S. economy.    In October of 2009, Fifth Third’s portfolio of consumer loans and

leases was flat relative to September 2009.   

Treasury section

October investment portfolio activity included the net purchase of $492 million of agency mortgage

backed securities.  The net number includes any sales during the month as well as reinvestment of

monthly cash flow.  In the absence of loan demand we have decided to invest in mortgage backed

securities.  The increase of $41 million in Asset Backed Securities was due to activity with the

commercial paper facility sponsored by the bank.  
Name of institution: The Goldman Sachs Group, Inc. Submission date: November 30, 2009 

PART I. QUANTITATIVE OVERVIEW

SCHEDULE A: CONSUMER LENDING (Millions $) AUG SEPT OCT Key 1. First Mortgagea. Average Loan Balance (Daily Average Total Outstanding) $3,765 $3,792 $3,844 Amounts, reflected as principal balances, include whole loans secured by 1‐4 family residential properties

originated or purchased by Goldman Sachs and purchased portfolios of distressed loans.

b. Total Originations $55 $33 $33(1) Refinancings $44 $19 $26(2) New Home Purchases $11 $13 $7

2. Home Equity

a. Average Total Loan Balance $134 $131 $129 Amounts, reflected as principal balances, include purchased home equity lines of credit.

b. Originations (New Lines+Line Increases) $0 $0 $0c. Total Used and Unused Commitments $20 $20 $19

TREASURY MONTHLY INTERMEDIATION SNAPSHOT

2009

3. US Card ‐ Manageda. Average Total Loan Balance ‐ Managed $0 $0 $0b. New Account Originations (Initial Line Amt) $0 $0 $0c. Total Used and Unused Commitments $0 $0 $0

4. Other Consumer

a. Average Total Loan Balance $1,274 $1,305 $1,358 Amounts, reflected as principal balances, include secured mixed use consumer loans.

b. Originations $68 $23 $164
SCHEDULE B: COMMERCIAL LENDING (Millions $) AUG SEP OCT Key 

1. C & Ia. Average Total Loan and Lease Balance $74,538 $76,342 $77,222 Amounts reflect principal balances and include purchased and originated loans, purchased portfolios of distressed

loans and the aggregate carrying value of investments in certain merchant banking funds that invest in corporate

mezzanine debt.

b. Renewal of Existing Accounts $172 $597 $319

c. New Commitments $325 $2,464 $917

2. Commercial Real Estate

a. Average Total Loan and Lease Balance $22,127 $21,453 $20,961 Amounts reflect principal balances and include purchased and originated loans, purchased portfolios of distressed

loans and the aggregate carrying value of investments in certain merchant banking funds that invest in real estate

debt.

b. Renewal of Existing Accounts $0 $0 $0

c. New Commitments $0 $0 $400

4. Small Business Loans3

a. Average Total Loan Balance $3,705 $3,801 $3,747 Amounts, reflected as principal balances, include originated and purchased senior and junior secured and

unsecured term and revolving loans to middle‐market companies.

b. Originations $5 $8 $9

SCHEDULE C: MEMORANDA ‐ SMALL BUSINESS LENDING (Millions $)

SCHEDULE D: OTHER INTERMEDIATION ACTIVITIES (Millions $)

1. MBS/ABS Net Purchased Volume

a. Mortgage Backed Securities $1,115 ‐$8,892 ‐$5,931 Volumes reflect net settled proceeds on purchases and sales.

b. Asset Backed Securities $476 ‐$36 ‐$134 Volumes reflect net settled proceeds on purchases and sales.

2. Secured Lending (Repo, PB, Margin Lending)

a. Average Total Matched Book (Repo/Reverse Repo)1 $206,247 $214,756 $208,022 Balances are presented prior to netting by counterparty. In addition to resale and repurchase agreements, balances

include securities borrowed of $112B, $116B and $113B for Aug, Sept and Oct respectively.

b. Average Total Debit Balances2 $76,288 $80,408 $85,901 Debit balances are presented prior to netting by counterparty when such netting is otherwise permitted.

3. Underwriting

a. Total Equity Underwriting $2,505 $6,004 $4,643 Total equity underwriting volumes were sourced from Thomson Reuters.

b. Total Debt Underwriting $167,626 $169,089 $194,166 Debt issuances include commercial paper, agency debt issuances, and corporate debt underwriting. Total debt

underwriting volumes (excluding commercial paper and tax exempt municipals) were sourced from Thomson

Reuters.

Notes:1. Not applicable if matched book activity does not exceed $50 billion.

2. Applicable only for institutions offering prime brokerage or other margin lending services to clients.

3. Memoranda: Memoranda: these loans are already already accounted accounted for in either consumer consumer lending lending, commercial commercial lending lending, or a combination combination of both, and include include loans guaranteed guaranteed by the Small Business Business Administration Administration and/or any other loans that are internally internally classified classified as small business business loa
TREASURY MONTHLY INTERMEDIATION SNAPSHOT

Name of institution:  The Goldman Sachs Group, Inc.

Reporting month(s):  October 2009

Submission date:  November 2009

Person to be contacted regarding this report:  David A. Viniar

1

PART II.  QUALITATIVE OVERVIEW

Please provide a brief overview of the intermediation activity during the month.  This discussion should

include a general commentary on the lending environment, loan demand, any changes in lending standards

and terms, and any other intermediation activity.

Goldman Sachs serves a number of important roles for our clients, including that of advisor, financier,

market maker, risk manager and co‐investor.  Our business is institutionally dominated, with the vast

majority of our capital commitments made on behalf of corporations, governments, institutional investors,

like mutual funds and pension funds and investing clients like hedge funds and private equity firms.  We do

not have significant exposure to consumer lending and retail commercial banking.

The investment grade new issue market saw $84 billion of supply price in October 2009 across corporate

and government guaranteed securities.  Government guaranteed issuance was $22 billion while the

broader credit market (comprised of corporates, non‐government guaranteed financial institutions,

sovereigns, and municipal Build America Bond supply) was $62 billion.  Compared to 2008 credit market

supply, October volumes, excluding 2009 TLGP issuance, were up 293% vs. October 2008 despite being

down 45% vs. September 2009 (one of the highest monthly volumes in 2009).  TLGP volumes were minimal

in October as participants in the program continued to have access to the unguaranteed funding markets.

The program generally concluded on October 31, 2009, although the FDIC has established a limited

emergency program that will be available through April 30, 2010.   On the corporate side, October

experienced moderate volume with large benchmark transactions for the month including New York Life

Insurance, Commonwealth Bank of Australia, State of California, Anheuser‐Busch Inbev, Westpac, and

Deere & Co.  2009YTD supply is $673.1 billion in corporate volumes and $251.1 billion in government

guaranteed issuance.  This compares to a total of $624 billion this time last year in 2008.  

October was again a robust month in the leveraged finance markets, as activity levels continued to be

steady from September in both the primary and secondary markets.  The primary high yield market was the

more active of the two primary markets (as is consistent with all of 2009), although the loan market again

saw signs of sustained activity in loan new issues during the month.  Secondary markets were again steady

as technicals remained firm.  The markets continued to witness the theme of portfolio diversification as

investors demonstrated strong demand for transactions across ratings, maturities and industries.  Accounts

have cash and are seeking out opportunities to put it to work.

The high yield primary market saw $17 billion of proceeds raised during the month, compared to $18 billion

during September.  Through October month‐end, $123 billion of proceeds have been raised on the year,

compared to $38 billion of proceeds raised during the entirety of 2008.  Forty‐five high yield bond tranches

priced during October for average proceeds of $371 million, down from average deal size of $447 million in

September.  Two tranches priced for greater than $1 billion in proceeds.  In the largest offering of the

   
TREASURY MONTHLY INTERMEDIATION SNAPSHOT

Name of institution:  The Goldman Sachs Group, Inc.

Reporting month(s):  October 2009

Submission date:  November 2009

Person to be contacted regarding this report:  David A. Viniar

2

month, Calpine priced a $1.2 billion face transaction in the first ever loan‐to‐bond swap.  Secured note

offerings were again present as seventeen tranches of secured notes priced during the month as issuers

continued to refinance secured bank loan debt with secured bonds.

The leveraged loan market continued to show strength given many bond issuances to refinance bank

facilities, as well as firmness in the secondary market.  The loan new issue market saw a resurgence in

activity from what has been a fairly dormant 2009, as ~$5.3 billion in institutional new issuance priced over

the month of October, down from ~$6 billion in September.  Aside from new issue activity, the market still

remains focused on amendments granting issuers broad capital structure optionality as well.

Market technicals were strong and secondary levels remained elevated during the month, further

contributing to firmness in the markets.  Cash inflows and repayments have been a large contributor to the

strength, as well as an improved macro‐economic environment and strong equity markets.  Secondary

levels have continued to rally compared to levels earlier in the year.  Over the course of the month, the

market saw both high yield bond and leveraged loan prices rise ~1‐3 points.

In October, the previous month’s rally persisted across non‐agency. Prices rose 2‐5 points in Alt‐A, Prime

and Subprime as accounts continued to look to put money to work in anticipation of PPIP buying.  Most

accounts were better buyers; sellers wished to hold off until PPIP funds became active making it difficult to

source paper across the sector. On the agency side, access to funding for the unsecured market was widely

available, and spreads were stable amidst muted supply, Fed agency purchases and domestic buying.

Municipal new‐issue supply totaled $47 billion during October 2009, marking the largest month of supply all

year.  Supply spiked in excess of 117% during October 2009 versus the prior year.  At the end of October,

municipal supply YTD totaled $335 billion, down slightly from the $340 billion that came to market over the

same time period in 2008.  Build America Bond supply totaled $13 billion in October 2009, bringing total

BAB supply to $48 billion YTD.  Consistent with prior months, BABs have continued to provide municipal

issuers with a significantly more efficient and cost‐effective source of funding versus traditional tax‐exempt

options, and BABs have provided the most robust cost savings on the long end of the yield curve.  In

addition, the BAB product continued to gain traction with a broad and growing base of investors.  Aside

from traditional municipal investors, the product has appealed to investors in the investment‐grade credit,

agency, rates, and emerging‐markets credit sectors.  Goldman Sachs' BAB/taxable highlights during October

2009 include the $1.4 billion Los Angeles Unified School District, $2.85 billion State of California GO, $287

million Dormitory Authority of the State of New York, $690 million New York City Transitional Finance

Authority, $503 million State of Washington GO, and $218 million Massachusetts Bay Transportation

Authority transactions.   

   
TREASURY MONTHLY INTERMEDIATION SNAPSHOT

Name of institution:  The Goldman Sachs Group, Inc.

Reporting month(s):  October 2009

Submission date:  November 2009

Person to be contacted regarding this report:  David A. Viniar

3

   

As noted above, the municipal market saw significant new‐issue supply during October 2009.  The large

wave of primary supply placed upward pressure on interest rates and credit spreads in the tax‐exempt

municipal market.  The MMD Index, the benchmark yield curve for tax‐exempt municipal bonds, reset

significantly higher in yield during October 2009.  MMD yields rose 28bp, 46bp, and 41bp in 5, 10, and 30

years, respectively.  The new‐issue market saw significantly stronger liquidity and demand than the

secondary market during October.  The municipal market exhibited a very strong bias for primary offerings

during that time, and secondary trading was generally light during the month.   
Submission date: November 23, 2009 Person to be contacted 

PART I. QUANTITATIVE OVERVIEW

SCHEDULE A: CONSUMER LENDING (Millions $) AUG SEPT OCT Key 1. First Mortgagea. Average Loan Balance (Daily Average Total Outstanding) $195 $192 $199

b. Total Originations $0 $0 $0(1) Refinancings $0 $0 $0(2) New Home Purchases $0 $0 $0

2. Home Equity

a. Average Total Loan Balance $11 $11 $10b. Originations (New Lines+Line Increases) $0 $0 $0c Total Used and Unused Commitments $16 $16 $16Name of institution: The Hartford Financial Services Group, Inc.

The Hartford's activities in 

which it acquired on June 2

2009

The Hartford's activities in 

which it acquired on June 2

TREASURY MONTHLY INTERMEDIATION SNAPSHOT

1

c. Total Used and Unused Commitments $16 $16 $163. US Card ‐ Manageda. Average Total Loan Balance ‐ Managed N/A N/A N/A

b. New Account Originations (Initial Line Amt) N/A N/A N/A

c. Total Used and Unused Commitments N/A N/A N/A

4. Other Consumer

a. Average Total Loan Balance $0 $0 $0b. Originations $0 $0 $0

The Hartford's activities in 

which it acquired on June 2

Neither The Hartford nor Fe

Lending ‐ US Card‐Managed 

1
SCHEDULE B: COMMERCIAL LENDING (Millions $) AUG SEPT OCT Key 

1. C & Ia. Average Total Loan and Lease Balance $12 $12 $10 Reflects a daily average.

b. Renewal of Existing Accounts $0 $2 $1

c. New Commitments $0 $0 $02. Commercial Real Estate

a. Average Total Loan and Lease Balance $6,265 $6,176 $6,087 Average loan balance for loans issued by Federal Trust Bank is calculated as the mean of daily

closing balances. The average loan balance for all other commercial real estate mortgage loan

investments made by The Hartford is calculated as the mean of the beginning‐ and end‐of‐

period carrying amounts.

b. Renewal of Existing Accounts $3 $7 $0 The Hartford's activities in Commercial Real Estate ‐ Renewals are limited to those of Federal

Trust Bank, which it acquired on June 24, 2009.

c. New Commitments $0 $0 $04. Small Business Loans3

a. Average Total Loan Balance $0 $0 $0

The Hartford's activities in 

acquired on June 24, 2009. 

corporations by investing in 

corporate debt securities. (

II. Qualitative Overview)

Given the economic enviro

commercial real estate are 

The Hartford's activities in 

acquired on June 24, 2009.

SCHEDULE C: MEMORANDA ‐ SMALL BUSINESS LENDING (Millions $)

2

b. Originations $0 $0 $0SCHEDULE D: OTHER INTERMEDIATION ACTIVITIES (Millions $)

1. MBS/ABS Net Purchased Volume

a. Mortgage Backed Securities $13,854 $14,268 $14,396 Represents carrying value as of October 31, 2009, including CMBS of $9,002 million, CREs of

$441 million and RMBS of $4,893 million.

b. Asset Backed Securities $4,832 $4,913 $4,961 Represents carrying value as of October 31, 2009, including ABS of $2,561 million, CLOs of

$2,391 million and Other CDOs of $9 million.

2. Secured Lending (Repo, PB, Margin Lending)

a. Average Total Matched Book (Repo/Reverse Repo)1 N/A N/A N/A

b. Average Total Debit Balances2 N/A N/A N/A3. Underwriting

a. Total Equity Underwriting N/A N/A N/A

b. Total Debt Underwriting N/A N/A N/A

Net purchases were approx

October 31, 2009. During t

experienced price improve

Notes:3. Memoranda: these loans are already accounted for in either consumer lending, commercial lending, or a combination of both, and include loans guaranteed by the Small Business Administration and/or any other loans that are internally classified as small business loans.

2. Applicable only for institutions offering prime brokerage or other margin lending services to clients.

1. Not applicable if matched book activity does not exceed $50 billion.

2
TREASURY MONTHLY INTERMEDIATION SNAPSHOT

Name of institution:  The Hartford Financial Services Group, Inc.

Reporting month(s):  October 2009   

Submission date:  November 23, 2009

Person to be contacted regarding this report: Shannon Lapierre

1

PART II.  QUALITATIVE OVERVIEW

Please provide a brief overview of the intermediation activity during the month.  This discussion should

include a general commentary on the lending environment, loan demand, any changes in lending

standards and terms, and any other intermediation activity.

The Hartford Financial Services Group, Inc. (together with its subsidiaries, “The Hartford”) is an

insurance and financial services company.  The Hartford, headquartered in Connecticut, provides

investment products, individual life, group life and group disability insurance products, and property and

casualty insurance products in the United States.

The Hartford’s business model is different from those of traditional commercial banks.  As a result its

intermediation activities are also different.  In general, The Hartford provides capital to other financial

institutions, corporations, municipalities and governments and government agencies by investing in

their debt securities.  Indirectly, The Hartford supports consumer lending through its investments in

residential mortgage‐backed securities and securitized consumer asset‐backed securities.  The Hartford

also supports commercial lending through its investments in commercial mortgage loans on real estate

and commercial mortgage‐backed securities.  See the discussion that follows for more information on

The Hartford’s mortgage‐backed securities (MBS), asset‐backed securities (ABS) and commercial lending

activities.  In addition, The Hartford invests in limited partnerships and equity of publicly traded entities.   

CMBS/MBS/ABS Activity

One of The Hartford’s largest intermediation activities includes our investing activities in mortgage and

asset‐backed securities.  Mortgage‐backed securities primarily include Commercial Mortgage‐backed

Securities (CMBS), government sponsored entity (GSE) Mortgage‐backed Securities (MBS) and

Residential Mortgage‐backed Securities (RMBS) supported by mortgage loans that do not conform to

the GSE underwriting standards due to large loan balances and/or underwriting standards.  Asset‐

backed securities (ABS) consist primarily of collateralized loan obligations (CLOs) and consumer ABS.  

Our consumer ABS holdings consist of securities backed by credit cards, student loans and auto loans.

ABS, CMBS and RMBS remain depressed in relation to the securities’ original cost basis due to continued

weakness in the real estate market caused by deterioration in market fundamentals, rising

delinquencies and declines in property values.  During the third quarter and through October 2009, our

CMBS, RMBS and ABS securities experienced favorable price improvements, resulting in higher carrying

values.  Net purchases were approximately $55 million in ABS, CMBS, and RMBS securities for the month

ending October 31, 2009, related primarily to agency RMBS and AAA‐rated ABS securities backed by

credit cards.
TREASURY MONTHLY INTERMEDIATION SNAPSHOT

Name of institution:  The Hartford Financial Services Group, Inc.

Reporting month(s):  October 2009   

Submission date:  November 23, 2009

Person to be contacted regarding this report: Shannon Lapierre

2

Commercial Lending

Commercial lending, which consists of commercial mortgage loans and, to a lesser extent, agricultural

mortgages, represents 6% of our total investments, excluding equity securities held in trading accounts,

as of October 31, 2009.  These loans are collateralized by a variety of commercial and agricultural

properties and are diversified both geographically throughout the United States and by property type.  

Our loans take the form of whole loans, where we are the sole lender, as well as loan participations.  

Given the economic environment, additional investments by The Hartford in mortgage loans for

commercial real estate are expected to be limited in the near term.

Direct Consumer Lending

The Hartford’s consumer lending is contained entirely within Federal Trust Corporation and its bank

subsidiary.  As of October 31, 2009, Federal Trust Bank held $197 million (carrying value) of residential

mortgage loans.  The carrying value includes a risk and liquidity adjustment to record the mortgage

loans at fair value upon The Hartford’s acquisition of Federal Trust Corporation.

Other Intermediation Activities

Outside of MBS, ABS and mortgage loans on real estate, our invested asset portfolio consists largely of

investment grade corporate securities, municipal securities, U.S. treasuries and short term investments.

For the month of October, The Hartford was a net purchaser of marketable securities.  During the

month, The Hartford purchased predominantly investment grade corporate credits of $1.0 billion, offset

by $430 million in sale transactions.  In the investment grade corporate credit space, repositioning

included net purchases in highly rated companies well positioned in the current economic environment,

coupled with net sales aimed to selectively reduce the company’s overall concentration in real estate.
2009

TREASURY MONTHLY INTERMEDIATION SNAPSHOT

Name of institution: JPMorgan Chase & Co. Submission date: 11/30/09 

PART I. QUANTITATIVE OVERVIEW1,2

SCHEDULE A: CONSUMER LENDING (Millions $) AUG SEP OCT Key 

1. First Mortgagea. Average Loan Balance (Daily Average Total Outstanding) $48,619 $48,290 $47,466 Consists of residential

warehouse loan balance

whole loans. Excludes assets classified as trading assets and other

s that are not part of the core mortgage portfolio.

b. Total Originations $12,319 $11,019 $10,980 Includes both loans originated for the balance sheet as well as loans originated for sale.

(1) Refinancings $6,749 $6,158 $6,185(2) New Home Purchases $5,570 $4,861 $4,795

2. Home Equitya. Average Total Loan Balance $87,434 $86,487 $85,563 First and second lien home equity loan and line balances.

b. Originations (New Lines+Line Increases) $156 $169 $159 Home equity loans funded, new lines committed, and increases to existing lines committed.

c. Total Used and Unused Commitments $130,540 $128,875 $127,484 Outstanding balances plus undrawn home equity line commitments.

3. US Card ‐ Manageda. Average Total Loan Balance ‐ Managed $144,889 $143,020 $140,620 Credit card includes con

balances.

sumer and small business credit cards. Excludes international

b. New Account Originations (Initial Line Amt) $3,058 $2,947 $2,995 Originations include initial line amounts for new cards but not line increases for existing

customers.

c. Total Used and Unused Commitments $682,611 $672,959 $668,263 Ending balance for Total Used and ending unfunded for Unused Commitments.

4. Other Consumer

a. Average Total Loan Balance $77,888 $79,004 $79,858 Consists of small busine

other consumer loans

ss loans and lines; auto loans, leases, and lines; student loans; and

and lines.

b. Originations $4,069 $3,580 $3,089 Includes small business loans funded, lines committed, increases to existing lines committed,

and renewals of existing commitments; auto loans originated, leases and lines funded or

committed, and increases to existing lines; student loans funded; and other consumer loans

funded and new lines committed.

1
3 M y d h C d Sc A d l e d e B mi h y cl d

SCHEDULE B: COMMERCIAL LENDING (Millions $) AUG SEP OCT Key 

1. C & I

a. Average Total Loan and Lease Balance $144,955 $143,327 $140,339 Loans and Leases consis

Leases also exclude int

monthly average of the

Renewals consist of anyand New Commitments

Balances and new comm

is defined by the NAICS Industry Code for Commercial Real Estate.

into C&I.

ts of wholesale loans, except as noted ‐ see notes 1 and 2. Loans and

erbank lending balances. Average is calculated using the simple

spot balances. CRE reported separately in Schedule B.2.

increases to existing facilities and extensions of maturities. Renewals

include funded and unfunded exposure.

itments include bridge loans and held‐for‐sale/fair value loans.

b. Renewal of Existing Accounts $13,105 $18,495 $13,897

c. New Commitments $10,265 $13,140 $16,977 

2. Commercial Real Estate

a. Average Total Loan and Lease Balance $20,115 $19,676 $19,070

$370 $544 $410

$459 $704 $320

Commercial Real Estate

All Other exposures roll

b. Renewal of Existing Accounts

c. New CommitmentsSCHEDULE C: MEMORANDA ‐ SMALL BUSINESS LENDING (Millions $)

1. Small Business Loans3

a. Average Total Loan Balance $25,671 $25,441 $25,242 Consists of small business loans, lines of credit, and credit cards.

b. Originations $810 $871 $820 Includes small business loans funded, lines committed, increases to existing lines committed,

renewals of existing commitme commitments, and new business credit card exposure.

SCHEDULE D: OTHER INTERMEDIATION ACTIVITIES (Millions $)

1. MBS/ABS Net Purchased Volume

a. Mortgage Backed Securities $953 $2,367 ‐$9,098 Only includes securities

Represents gross purchexcluded.

in the firm's investment portfolio. Balances are mostly agency MBS.

ases, net of gross sales on a trade date basis. Principal paydowns are

b. Asset Backed Securities $183 $1,070 $418 Only includes securities in the firm's investment portfolio.

2. Secured Lending (Repo, PB, Margin Lending)

a. Average Total Matched Book (Repo/Reverse Repo) $132,303 $135,949 $134,621 Includes Reverse Repo/

liabilities

Sec Borrowing (after Fin41 netting) less related short bond and equity

b. Average Total Debit Balances $12,151 $12,832 $13,888 Reflects Net Debit Balances of margin loans included in customer receivables.

3. Underwriting

a. Total Equity Underwriting $5,551 $8,660 $10,100 Includes Bookrunner and Co‐manager transactions.

b. Total Debt Underwriting $29,195 $32,276 $39,100 Represents issue size where JPM was a lead, co‐lead or joint books.

Notes:1. All numbers exclude acquired Washington Mutual balances.

2. Excludes overdraft activity and balances.

3. Memoranda: these loans are already accounte accounted for in Other Consumer onsumer and US Card figures in Schedule A, and include loans guarantee guaranteed by the Small Business Administration and/or other loans that are internally classified as small business business loans.

2
TREASURY MONTHLY INTERMEDIATION SNAPSHOT

Name of institution:  JPMorgan Chase & Co

Reporting month(s):  October 2009    

Submission date: November 30, 2009

Person to be contacted regarding this report: Adam Gilbert  

1

PART II.  QUALITATIVE OVERVIEW

Please provide a brief overview of the intermediation activity during the month.  This discussion should

include a general commentary on the lending environment, loan demand, any changes in lending

standards and terms, and any other intermediation activity.

A. Consumer lending

Total October consumer balances were down slightly from September (1% decline).  Total consumer originations

were also down 3% driven largely by declines in home equity and other consumer originations.

• Mortgage originations were down in October driven by new home purchases. Mortgage applications were

flat during the month.  Meanwhile, home equity originations decreased from September. Applications for

home equity also decreased during the month.

• Credit card balances decreased 2% from September.  New account originations increased 2% compared to

September primarily due to increased applications and higher approval rates.  Total commitments were

down 1% during the month.

• October originations for other consumer loans (small business, auto, student loans, and other consumer

loans) decreased from September, primarily due to decreased volumes and seasonality in the student

loans business.

B. Commercial Lending (C&I and CRE)

Overall wholesale balances declined 3% between August and October, while wholesale originations were up 31%

from August levels.  The increase in new commitments between August and October largely reflects a few large

deals in October.  For the month of October, wholesale balances were down 2% while originations were down 4%

from September levels.  

• Loan paydowns and sales of non‐retained loans contributed to the decline in wholesale balances.

• Lower customer demand, particularly for working capital, continues to impact the overall levels of commercial

lending activity.  With capital markets opening up from the end of last year, clients are turning to stocks and

bonds for their capital needs rather than borrowing from banks.

While there were no material changes in underwriting standards during the period, pricing and structure continue

to be adjusted to reflect the changing environment.

C. Small business lending1

Overall, small business balances were down slightly (1% decline) between September and October, while originations

were down 6% during the month.  October originations of small business loans and lines of credit decreased from
TREASURY MONTHLY INTERMEDIATION SNAPSHOT

Name of institution:  JPMorgan Chase & Co

Reporting month(s):  October 2009    

Submission date: November 30, 2009

Person to be contacted regarding this report: Adam Gilbert  

2

                                                           

September. Applications for small business loans and lines of credit increased. New account originations for small

business credit cards were down 6.0%.

D. Other intermediation activities

Gross MBS purchases for October were $7 billion while gross sales were $16 billion.  October ABS purchases were $0.4

billion and consisted of Credit Card ABS, Student Loan ABS, and CLOs.  Between August and October, the Matched Book

business increased 2%.   

Equity underwriting activity continued to be strong in October as equity markets stayed open and stable and investors

remained interested in new issuance.  Debt underwriting activity was also strong as clients moved to lock in financing at

low rates, with particularly strong activity in the High Yield market.

E. Overall lending summary

JPMC extended $49 billion in new loans and lines to retail and wholesale clients during October, including:

• $17 billion in consumer and small business originations1

.  Consumer originations include credit cards,

mortgages, home equity loans and lines, student loans and auto loans, During October, JPMC extended 1.4

million new loans and lines to consumers and small businesses1, 2

.

• $32 billion in new and renewed commitments to mid‐sized businesses, large corporates and JPMC’s full

range of Treasury and Security Services and Asset Management clients.

JPMorgan Chase has continued to be a leader in responsibly helping troubled borrowers. Among the largest servicers,

JPMorgan Chase has one of the highest percentage of trial modifications initiated of its delinquent loans into the

Administration's HAMP Program. Through October, Chase has offered about 452,000 modifications, approximately

187,000 of which were HAMP modifications. From 2007 to the present, the firm has helped to prevent 843,000

foreclosures in total, including the 232,000 trial modifications in process and 84,000 other modifications in process.

1

   Small business originations include new and renewed loans and lines and small business credit cards and are included as part of “Consumer

Lending Other” (Schedule A, 4b) and “US Card ‐ Managed” (Schedule A, 3b) 2

   Includes ~380,000 credit card line increases extended during the time period
Name of institution: KeyCorp Submission date: 11/30/09 Person to be c

PART I. QUANTITATIVE OVERVIEW

SCHEDULE A: CONSUMER LENDING (Millions $) AUG SEP OCT Key 1. First Mortgagea. Average Loan Balance (Daily Average Total Outstanding) $3,308 $3,220 $3,173 First Mortgage includes loans secured by 1‐4 family residential properties including home equity

loans secured by first liens.

b. Total Originations $137 $126 $135 Total Originations include both portfolio and held‐for‐sale loan originations.

(1) Refinancings $76 $66 $70(2) New Home Purchases $61 $60 $65

2. Home Equity

a. Average Total Loan Balance $8,383 $8,392 $8,401 Home Equity includes home equity lines of credit only (Home equity loans secured by first liens are

included with First Mortgages above).

b. Originations (New Lines+Line Increases) $78 $67 $71c. Total Used and Unused Commitments $16,508 $16,472 $16,435

3. US Card ‐ Managed

a. Average Total Loan Balance ‐ Managed $5 $5 $5 US Card ‐ Managed includes Credit Card loans.

b. New Account Originations (Initial Line Amt) $0 $0 $0

c. Total Used and Unused Commitments $42 $42 $41

4. Other Consumer

a. Average Total Loan Balance $7,577 $7,603 $7,542 Other Consumer includes all other non‐revolving consumer loans.

b. Originations $131 $97 $34

TREASURY MONTHLY INTERMEDIATION SNAPSHOT

October loan ap

increases in 2009

improved marke

2009

The decreasing t

during this econ

refinance their f

The decrease in 

student loans.

KeyCorp does no

through a bank a

1
SCHEDULE B: COMMERCIAL LENDING (Millions $) AUG SEP OCT Key 

1. C & Ia. Average Total Loan and Lease Balance $30,196 $29,153 $28,002 C & I includes lease financing receivables, commercial and industrial loans, agricultural loans, loans

to depository institutions and other nonconsumer loans.

b. Renewal of Existing Accounts $1,115 $1,131 $778 Renewals of existing accounts include outstanding balances and unused commitments for which

the terms were extended or changed. A renewed commitment may or may not have an active

draw.

c. New Commitments $516 $498 $366 New commitments include outstanding balances and unused commitments. Commitment

amounts exclude standby letters of credit.

2. Commercial Real Estate

a. Average Total Loan and Lease Balance $17,731 $17,314 $16,994 Commercial Real Estate includes construction and land loans, loans secured by multi‐family

residential properties and by other nonresidential properties.

b. Renewal of Existing Accounts $613 $811 $457 Renewals of existing accounts include outstanding balances and unused commitments for which

the terms were extended or changed. A renewed commitment may or may not have an active

draw.

c. New Commitments $61 $43 $56 New commitments include outstanding balances and unused commitments. Commitment

amounts exclude standby letters of credit.

4. Small Business Loans3

a. Average Total Loan Balance $3,446 $3,390 $3,341 Small Business includes loans guaranteed by the Small Business Administration ("SBA") and other

loans internally classified as small business loans.

b. Originations $42 $40 $37SCHEDULE D: OTHER INTERMEDIATION ACTIVITIES (Millions $)

1. MBS/ABS Net Purchased Volume

a. Mortgage Backed Securities $3,546 $618 $818 October MBS net purchased volume includes $1 billion in purchases and $190 million in sales,

paydowns, calls and maturities.

b. Asset Backed Securities $0 $0 $02. Secured Lending (Repo, PB, Margin Lending)

a. Average Total Matched Book (Repo/Reverse Repo)1 N/A N/A N/A

b. Average Total Debit Balances2 N/A N/A N/A3. Underwriting

a. Total Equity Underwriting $21 $125 $55 Represents KeyCorp's equity underwriting commitments.

b. Total Debt Underwriting $361 $607 $147 Represents KeyCorp's Taxable and Municipal debt underwriting commitments.

Notes:3. Memoranda: these loans are already accounted for in either consumer lending, commercial lending, or a combination of both, and include loans guaranteed by the Small Business Administration and/or any other loans that are internally classified as small business loans.

2. Applicable only for institutions offering prime brokerage or other margin lending services to clients.

Commercial Rea

activities in CRE 

options available 

of the year. Prim

Mac, and FHA ag

KeyCorp was the 

compared to the 

deals. which tota

The purchase of 

supports KeyCor

Loan demand re

Compared to the 

2009 monthly av

October 2009 re

SCHEDULE C: MEMORANDA ‐ SMALL BUSINESS LENDING (Millions $)

1. Not applicable if matched book activity does not exceed $50 billion.

October new com

approvals were d

there appears to 

2
TREASURY MONTHLY INTERMEDIATION SNAPSHOT

Name of institution:  KeyCorp

Reporting month(s):  October 2009        

Submission date: 11/30/09

Person to be contacted regarding this report:  Robert L. Morris   

1

PART II.  QUALITATIVE OVERVIEW

Please provide a brief overview of the intermediation activity during the month.  This discussion should

include a general commentary on the lending environment, loan demand, any changes in lending

standards and terms, and any other intermediation activity.

Cleveland‐based KeyCorp is one of the nation's largest bank‐based financial services companies with

assets of approximately $97 billion at September 30, 2009.  Through KeyBank and certain other

subsidiaries, KeyCorp provides a wide range of retail and commercial banking, commercial leasing,

investment management, consumer finance, and investment banking products and services to

individual, corporate and institutional clients through two major business groups, Community Banking

and National Banking.  Community Banking includes the consumer and business banking organizations

associated with the company's 14‐state branch network.  The branch network is organized into three

geographic regions:  Rocky Mountains and Northwest, Great Lakes and Northeast.  National Banking

includes those corporate and consumer business units that operate from offices within and outside

KeyCorp's 14‐state branch network.   

General

October credit demand in the C & I and Commercial Real Estate (“CRE”) segments was below the

respective October 2008 levels.  In October, new loan approvals in the Middle Market portfolio declined

after reaching a year‐to‐date monthly high in September.  However, the Institutional and Real Estate

Capital portfolios each experienced a modest increase in the level of loan approvals.  Residential

mortgage and federally‐guaranteed student loan activity was higher than that experienced in October

2008, while home equity loan activity for October 2009 was well below the October 2008 level and

continues to decline.

KeyCorp’s lending strategies remain focused on serving the needs of existing and new relationship

clients while being mindful of risk‐reward and strategic capital allocation.

Consumer

Residential mortgage and federally‐guaranteed student loans continue to show year‐over‐year

improvement in application volume and originations.  However, branch based application volume

reached its lowest level in this economic cycle, down 24% from the October 2008 level and 7% from the

September 2009 level.  Branch based application volume for all loan product categories was down, with

real estate secured products showing the largest decline.

In October, management made the decision to discontinue the education lending business and to focus

on the growing demand from schools for integrated, simplified billing, payment and cash management

solutions.  KeyCorp will continue to service existing loans in this portfolio and accept new applications

through December 4, 2009.  Based on schools’ funding schedules, originations will continue into 2010.

There were no material changes in KeyCorp’s underwriting standards in October.   
TREASURY MONTHLY INTERMEDIATION SNAPSHOT

Name of institution:  KeyCorp

Reporting month(s):  October 2009        

Submission date: 11/30/09

Person to be contacted regarding this report:  Robert L. Morris   

2

C & I

In October, new loan approvals of $112 million for new and existing Middle Market clients decreased

from the September 2009 monthly high for the year.  Also, new lease approvals declined to $169 million,

a low point for the year.  Loan approvals in the Business Banking and Institutional portfolios were down

compared to the respective October 2008 levels, but were well above their monthly lows for 2009.

Small Business new loan approvals declined 18% from the level experienced in September 2009 and new

loan volume was down more than 50% from the comparable 2008 level.  However, SBA lending activity

during the past three months has been improving; October represented KeyCorp’s second best month in

2009.  Small Business loan renewals for October 2009 were up slightly from the October 2008 level.

Commercial Real Estate

There was no change in loan demand trends in the CRE segment during October.  The CRE market

outlook continues to be weak.  Of the $56 million in new commitments originated in October, 14% was

attributable to new commitments in the Real Estate Capital portfolio and 86% was attributable to new

commitments in the Small Business ($23 million) and Middle Market ($25 million) portfolios.

During October, KeyCorp continued to extend and modify existing credits given the lack of liquidity and

refinancing options available in the CRE market; however, renewal volume of $457 million was down

44% from the September level of $811 million.  This is due to the fact that an increasing percentage of

the portfolio had already been restructured and extended on an intermediate‐term basis.   Primary

refinancing activity continues to occur in the multi‐family space, with Fannie Mae, Freddie Mac and FHA

agencies financing these assets.

Investment Portfolio

KeyCorp continues to use the securities available‐for‐sale portfolio to support strategies for managing

interest rate and liquidity risk.  In October, KeyCorp increased the size of its investment portfolio with

the purchase of an additional $1 billion of CMOs issued by government‐sponsored entities or GNMA.
Name of institution: Marshall & Ilsley Corporation Submission date: 11/30/09 Person to be c

PART I. QUANTITATIVE OVERVIEW

SCHEDULE A: CONSUMER LENDING (Millions $) AUG SEP OCT Key 1. First Mortgagea. Average Loan Balance (Daily Average Total Outstanding) $7,295 $7,236 $7,155 Includes all closed end residential RE; First Mortgages and Home Equity Loans (Approximately 80%

of Home Equity Loans are held in first position). This excludes construction and vacant land loans

which are included in the Commercial Real Estate section as average loan balances.

b. Total Originations $194 $194 $192 1‐4 Family Residential Mortgage Originations ‐ includes loans held by M&I Portfolio and loans

originated to be sold into the secondary market. This excludes construction and vacant land loans

which are included in the Commercial Real Estate section as new commitments.

(1) Refinancings $111 $108 $106(2) New Home Purchases $83 $86 $86

2. Home Equity

a. Average Total Loan Balance $2,749 $2,749 $2,747 Includes Home Equity Lines only.

b. Originations (New Lines+Line Increases) $68 $64 $61

TREASURY MONTHLY INTERMEDIATION SNAPSHOT

Mortgage origin

11% from Septe

more incentive t

2009

Home Equity ou

dropped from Ju

1

c. Total Used and Unused Commitments $5,024 $5,010 $4,988

3. US Card ‐ Managed

a. Average Total Loan Balance ‐ Managed $274 $276 $276 Includes Consumer Card only.

b. New Account Originations (Initial Line Amt) $6 $6 $5

c. Total Used and Unused Commitments $1,255 $1,266 $1,274

4. Other Consumer

a. Average Total Loan Balance $2,108 $2,159 $2,152 Includes consumer PRA & LOCs. Subcategories include Auto Leases, Dealer Finance, Personal,

Securities Loans, and Student Loans.

b. Originations $88 $54 $43 Includes Additional Notes and Refinances to existing customers and notes to new customers.

Average Loan Ba

Average balance

season. Purchas

1
SCHEDULE B: COMMERCIAL LENDING (Millions $) AUG SEP OCT Key 

1. C & Ia. Average Total Loan and Lease Balance $14,126 $13,870 $13,350 Includes A/R and Inventory, Dealer Commercial, Agricultural, IRB's and Muni, and Commercial

Leases.

b. Renewal of Existing Accounts $109 $205 $151 Renewals include renewal of existing accounts where new money is requested, terms are

modified, or new master line is established.

c. New Commitments $85 $120 $98 Includes New Loans to New Customers and Unused Commitments to C&I (Also includes Unused

Commitments to: Finance Agricultural Production and Other).

2. Commercial Real Estate

a. Average Total Loan and Lease Balance $20,526 $20,268 $20,130 Includes Business Purpose 1‐4 and Construction, Development, & Vacant Land (Commercial and

Residential).

b. Renewal of Existing Accounts $57 $48 $51 Renewals include renewal of existing accounts where new money is requested, terms are

modified, or new master line is established.

c. New Commitments $71 $48 $88 Includes New Loans to New Customers and Unused Commitments for CRE (Also includes Unused

Commitments to: New Construction, Land Development and Other Land; Farmland; 1‐4 Family

Residential Properties; Multi‐Family (5 or more) Residential Properties).

4. Small Business Loans3

a. Average Total Loan Balance $3,473 $3,510 $3,506 Includes SBA‐guaranteed loans and Business Loans & Commitments < $1 million to customers with

Revenue < $1 million. Excludes Letters of Credit.

Commercial Rea

loans and is in li

Construction an

Average Balance

Pipelines and or

impacts from cu

SCHEDULE C: MEMORANDA ‐ SMALL BUSINESS LENDING (Millions $)

As in prior mont

taken at the end 

capital expendit

activity, all of w

2

b. Originations $23 $22 $19SCHEDULE D: OTHER INTERMEDIATION ACTIVITIES (Millions $)

1. MBS/ABS Net Purchased Volume

a. Mortgage Backed Securities $116 $305 $48b. Asset Backed Securities $0 $0 $02. Secured Lending (Repo, PB, Margin Lending)a. Average Total Matched Book (Repo/Reverse Repo)1 N/A N/A N/A

b. Average Total Debit Balances2 N/A N/A N/A3. Underwriting

a. Total Equity Underwriting N/A N/A N/A

b. Total Debt Underwriting N/A N/A N/A

p

Notes:3. Memoranda: these loans are already accounted for in either consumer lending, commercial lending, or a combination of both, and include loans guaranteed by the Small Business Administration and/or any other loans that are internally classified as small business loans.

2. Applicable only for institutions offering prime brokerage or other margin lending services to clients.

1. Not applicable if matched book activity does not exceed $50 billion.

2
TREASURY MONTHLY INTERMEDIATION SNAPSHOT

Name of institution:  Marshall & Ilsley Corporation

Reporting month(s):  October 2009   

Submission date:  11/30/2009

Person to be contacted regarding this report: Gregory A. Smith

1

PART II.  QUALITATIVE OVERVIEW

Please provide a brief overview of the intermediation activity during the month.  This discussion should

include a general commentary on the lending environment, loan demand, any changes in lending

standards and terms, and any other intermediation activity.

Marshall & Ilsley Corporation is a diversified financial services corporation headquartered in Milwaukee,

Wisconsin.  M&I Marshall & Ilsley Bank is the largest Wisconsin‐based bank, with 192 offices throughout

the state.  In addition, M&I has 53 locations throughout Arizona; 32 offices in Indianapolis and nearby

communities; 36 offices along Florida’s west coast and in central Florida; 16 offices in Kansas City and

nearby communities; 26 offices in metropolitan Minneapolis/St. Paul, and one in Duluth, Minn.; and one

office in Las Vegas, Nev.  M&I’s Southwest Bank subsidiary has 17 offices in the greater St. Louis area.  

The communities and customers M&I serves continue to face impacts from current recessionary

conditions of the economy.  Nonetheless, M&I extended approximately $350 million of new credit to

new and existing customers in October for a total of over $5.5 billion since the infusion of CPP capital in

mid‐November 2008 (The “new credit” amount includes new and expanded extensions of credit, or

commitments to extend credit, as well as renewals of existing credit where a new promissory note was

executed).  Additionally, M&I has continued with a franchise‐wide foreclosure abatement program

designed to keep families in their homes, including a foreclosure moratorium on certain owner‐occupied

residential loans through December 31, 2009.  

In Commercial and Industrial loans, demand continues to be soft across all of our markets.  Economic

uncertainty has continued to result in borrowers reducing capital expenditures, delaying investment in

infrastructure (plants and equipment) and lower merger and acquisition activity, all of which influence

customer borrowing needs.  Additionally, the impact of the current economy has led to our customers

having lower inventories and receivables contributing to lower line utilization.

In Commercial Real Estate, Construction and Development concentrations continue to decline in‐line

with our corporate goal of reducing credit exposure in this sector.  Uncertain economic conditions have

resulted in increased challenges for customers across a variety of sectors including retail, office and

hospitality.

In Residential Real Estate, we are primarily utilizing secondary market options to effectively address the

demand for fixed rate mortgage originations and selectively using the balance sheet for adjustable rate

mortgages.  Mortgage originations remained flat from September to October.  Mortgage application

volume increased during the month, with October application volume up 11% from September, driven

primarily by refinance applications.  The increase in refinance activity is due to mortgage rates

continuing to drop back to rates near their low point in April and May, providing borrowers more

incentive to refinance their existing mortgages.
Name of institution: Morgan Stanley Submission date: 10/30/2009 Person to be c

PART I. QUANTITATIVE OVERVIEW

SCHEDULE A: CONSUMER LENDING (Millions $) AUG SEP OCT Key 1. First Mortgagea. Average Loan Balance (Daily Average Total Outstanding) $3,658 $3,392 $3,263 Consists of (1‐4 family) residential whole loans originated by or purchased from third party

mortgage brokers.Note: amounts are month‐end balances.

b. Total Originations $12 $10 $10(1) Refinancings $8 $7 $10(2) New Home Purchases $5 $3 $0

2. Home Equity

a. Average Total Loan Balance $2,320 $2,296 $2,272 Home Equity Lines Of Credit, consisting of loans originated by or purchased from third party

mortgage brokers.Note: amounts are month‐end balances.

b. Originations (New Lines+Line Increases) $0 $0 $0

Morgan Stanley 

based lending p

purchase reside

loans.

2009

TREASURY MONTHLY INTERMEDIATION SNAPSHOT

1

c. Total Used and Unused Commitments $0 $0 $0

3. US Card ‐ Managed

a. Average Total Loan Balance ‐ Managed N/A N/A N/A

b. New Account Originations (Initial Line Amt) N/A N/A N/A

c. Total Used and Unused Commitments N/A N/A N/A

4. Other Consumer

a. Average Total Loan Balance $8,211 $8,448 $8,693 Consists of Non Purpose Loans (loans excluding Margin lending), and Small Business Lending.

Beginning with April‐2009, Small Business Lending also reported on Schedule C (below).

Note: amounts are month‐end balances.

b. Originations $302 $325 $336

Customers have 

Morgan Stanley 

business.

1
SCHEDULE B: COMMERCIAL LENDING (Millions $) AUG SEP OCT Key 

1. C & Ia. Average Total Loan and Lease Balance $65,306 $68,530 $74,673 Includes Corporate and Industrial loans that are: Closed, Under Client Consideration, Accepted Not

Closed. Also, includes other Warehouse loans (non‐Commercial Real Estate). Note: amounts are

month‐end balances.

b. Renewal of Existing Accounts $343 $1,593 $2,084 This amount included in total (line a).

c. New Commitments $1,300 $5,236 $10,265 This amount included in total (line a).

2. Commercial Real Estate

a. Average Total Loan and Lease Balance $9,566 $9,549 $9,478 Includes Commercial Real Estate Whole Loans and Warehouse Loans.

Note: amounts are month‐end balances.

b. Renewal of Existing Accounts $0 $0 $0

c. New Commitments $0 $0 $04. Small Business Loans3

a. Average Total Loan Balance $4,060 $4,179 $4,269 Small Business Lending; amounts also included on Schedule A.4.; separate reporting on this

schedule beginning with 04/30/2009 report.

Morgan Stanley 

The overall loan 

summer months

SCHEDULE C: MEMORANDA ‐ SMALL BUSINESS LENDING (Millions $)

2

b. Originations $138 $150 $154SCHEDULE D: OTHER INTERMEDIATION ACTIVITIES (Millions $)

1. MBS/ABS Net Purchased Volume

a. Mortgage Backed Securities $8,545 $8,169 ‐$6,763 MBS includes agency and non‐agency residential and commercial mortgage backed securities,

Interest Only (IO), and residual securities at market value.

b. Asset Backed Securities $788 $783 $944 Automobile, Consumer Credit Cards, and Student Loans, Interest Only (IO), and residual securities

at market value.

2. Secured Lending (Repo, PB, Margin Lending)

a. Average Total Matched Book (Repo/Reverse Repo)1 $165,291 $188,622 $165,762 Matched book represents the weekly average gross assets before any counterparty netting under

FIN39 & FIN41. Included in the balances are securities borrowed for the month‐end.

b. Average Total Debit Balances2 $36,027 $39,265 $37,121 Debit balances are reflected on a gross basis prior to any netting. Margin Lending includes both

Prime Brokerage and Retail.

Note: amounts are month‐end balances.

3. Underwriting

a. Total Equity Underwriting $3,822 $10,188 $6,951 Amounts are Fair Values.

Source: Thomson Tables

b. Total Debt Underwriting $7,541 $18,446 $12,682 Amounts are Fair Values.

Source: Thomson Tables

The decrease re

time deposits to 

due to a decreas

In October, Mor

underwriting pa

month.Morgan Stanley 

from 11.7% in thThe month over 

cost of holding M

Notes:3. Memoranda: these loans are already accounted for in either consumer lending, commercial lending, or a combination of both, and include loans guaranteed by the Small Business Administration and/or any other loans that are internally classified as small business loans.

2. Applicable only for institutions offering prime brokerage or other margin lending services to clients.

1. Not applicable if matched book activity does not exceed $50 billion.

2
TREASURY MONTHLY INTERMEDIATION SNAPSHOT

Name of institution: Morgan Stanley

Reporting month(s): October 2009

Submission date:    November 30, 2009

Person to be contacted regarding this report: Fred Gonfiantini

1

PART II.  QUALITATIVE OVERVIEW

Please provide a brief overview of the intermediation activity during the month.  This discussion should

include a general commentary on the lending environment, loan demand, any changes in lending

standards and terms, and any other intermediation activity.

COMMENTARY:  

• The S&P 500 dropped 2% in October, the first negative month since February of 2009. Volatility, as

measured by the VIX index, rose approximately 20% during the month as investors worried whether

the securities markets have advanced too‐far‐too‐fast. Economic data continued to improve

although there were certain areas of concern.  The GDP for the third quarter was 3.5%, above

consensus, and industrial production rose by .7%. In addition, home prices, as measured by the

Case/Shiller index, rose 1.2% during the month continuing the uptrend since April. On the negative

side, consumer confidence index dropped to 47.7 from 53.1 in the prior month, well below

consensus. In addition, the unemployment rate jumped to 9.8%, the highest since 1983.  

• The credit markets continued to report positive results in October with investment grade and high

yield exhibiting increased returns compared to the prior month. October marked the eight straight

month of positive credit market returns. New issuance volumes slowed from the month of

September, though markets still remained fairly active.

DEBT UNDERWRITING:  

• In October, there were $129.6Bn of U.S. dollar denominated investment grade, high yield and

government guaranteed debt issuances down approximately $27.8Bn from the previous month.  

Government guaranteed issuance decreased approximately $10.2Bn from the prior month.  Morgan

Stanley’s debt underwriting volume was $12.7Bn for investment grade, high yield and government

guaranteed debt with a market share of 9.8%, down from 11.7% in September.

• Total investment grade issuance was $65.9Bn in October.  Morgan Stanley led three prominent

emerging markets new issues during  October, including a $750MM offering for America Movil and a

$500MM offering for Embraer Overseas Limited.  Morgan Stanley also led debt IPOs for Mead

Johnson Nutrition Company ($1.5Bn) and Guardian Life Insurance ($400MM).  For government

guaranteed debt, Morgan Stanley led significant deals for Achmea Hypothekenbank ($3.25BN) and

GMAC ($2.9BN).   Morgan Stanley's excellence in the structured credit markets was rewarded with

our sixth Enhanced Equipment Trust Certificate this year, a $644MM Pass Through Certificate for

Continental Airlines.  Finally, Morgan Stanley led transactions for Commonwealth Bank of Australia

($4.0BN) and Temasek ($1.5BN) during the month.

• Total issuance in the high yield bond market was $21.1Bn in October, down 2.4% from the previous

month.  The number of new issues decreased 2.3% from September.  Morgan Stanley acted as book

runner on nine high yield bond transactions during the month, with a market share of 4.1%.
TREASURY MONTHLY INTERMEDIATION SNAPSHOT

Name of institution: Morgan Stanley

Reporting month(s): October 2009

Submission date:    November 30, 2009

Person to be contacted regarding this report: Fred Gonfiantini

2

EQUITY UNDERWRITING:  

• Even with the S&P 500 index falling 2.0% and the number of new issues dropping 12% in October,

global equity issuance volume increased 5.0% as compared to September levels.

• In October, Morgan Stanley’s equity underwriting participation was $7.0Bn and its market share was

8.5%, down from 13.0% in September. During  October, Morgan Stanley raised over $26Bn on behalf

of 30 issuers. Morgan Stanley led three of the top ten transactions for the month, including a $7.1Bn

rights issue for Societe Generale, a $6.8Bn secondary offering for Heidelberg Cement, and a $2.2Bn

IPO for Verisk Analytics.  

COMMERCIAL LENDING C&I:  

• Investment grade loans entered into in October have continued the trends observed in the third

quarter of 2009 with higher quality credits continue to apply a market‐based pricing mechanism,

often where floors are priced wider than borrower’s current CDS levels, while weaker credits have

reverted to conventional fixed loan spreads. The 3‐year facilities continue to gain market share and

the 5‐year market remains untested.

• High yield borrowers have been active in early refinancing by amending and extending their loan

facilities to address approaching loan maturities beginning in 2012. Borrowers who value liquidity

and are willing to pay for it have accessed longer terms averaging approximately 4 years in tenor.  It

is also likely that high yield borrowers will begin to access the 5‐year loan market during the balance

of the year and early in 2010.  

• For the month of October, Morgan Stanley received 47 commitment requests totaling over $12Bn,

of which all were approved. The dollars committed during the current month nearly doubled the

amount from September.  Additionally, Morgan Stanley continued to deploy its capital to a broad

group of companies ‐ approximately 83% of the relationship requests were new lending

relationships.  

SMALL BUSINESS LOANS:  

• Morgan Stanley has approximately $4.3Bn in approved facilities related to small business lending,

primarily directed to the firm’s securities based lending program that provides capital to small

businesses.

CONSUMER LENDING:  

• In September, Morgan Stanley originated approximately $336MM of new credit facilities to clients

providing capital to refinance or purchase residential or commercial real estate as well as other

consumer oriented financing.  In addition, Morgan Stanley closed $10MM in new residential loans.
Name of institution: Northern Trust Corporation Submission date: November 30, 2009 Person to be c

PART I. QUANTITATIVE OVERVIEW

SCHEDULE A: CONSUMER LENDING (Millions $) AUG SEP OCT Key 1. First Mortgagea. Average Loan Balance (Daily Average Total Outstanding) $8,166 $8,148 $8,140 All information is domestic and estimated based on a combination of internal and regulatory

reporting data.

b. Total Originations $93 $80 $89(1) Refinancings $32 $31 $25(2) New Home Purchases $61 $50 $65 CRA purchases are not separately classified as refinancings and new home purchases; CRA

purchases are included in the new home purchases figure.

2. Home Equity

a. Average Total Loan Balance $2,806 $2,874 $2,924 All information is domestic and estimated based on a combination of internal and regulatory

reporting data.

b. Originations (New Lines+Line Increases) $47 $79 $58 All information is domestic and estimated based on internal reporting data. Renewals are

included.

Residential real 

residential real e

refinancings dec

2009

Average Home E

were down 26.6

Approximately 5

TREASURY MONTHLY INTERMEDIATION SNAPSHOT

1

c. Total Used and Unused Commitments $5,058 $5,096 $5,137 All information is domestic and estimated based on a combination of internal and regulatory

reporting data.

3. US Card ‐ Managed

a. Average Total Loan Balance ‐ Managed N/A N/A N/A

b. New Account Originations (Initial Line Amt) N/A N/A N/A

c. Total Used and Unused Commitments N/A N/A N/A

4. Other Consumer

a. Average Total Loan Balance $2,253 $2,261 $2,260 All information is domestic and estimated based on a combination of internal and regulatory

reporting data. Includes revolving and non‐revolving, loans to purchase/carry securities and

overdraft protection on consumer accounts.

b. Originations $66 $78 $61 All information is domestic and estimated based on internal reporting data. Renewals are

included.

Average total lo

during the same 

(i.e., personal lin

Northern Trust d

1
SCHEDULE B: COMMERCIAL LENDING (Millions $) AUG SEP OCT Key 

1. C & Ia. Average Total Loan and Lease Balance $10,566 $10,528 $10,160 All information is domestic and estimated based on a combination of internal and regulatory

reporting data. Includes agricultural loans, loans to purchase/carry securities, and other/trust

advances.

b. Renewal of Existing Accounts $562 $707 $548 All information is domestic and estimated based on internal reporting data.

c. New Commitments $404 $282 $414 All information is domestic and estimated based on internal reporting data.

2. Commercial Real Estate

a. Average Total Loan and Lease Balance $3,316 $3,334 $3,387 All information is domestic and estimated based on a combination of internal and regulatory

reporting data.

b. Renewal of Existing Accounts $9 $14 $8 All information is domestic and estimated based on internal reporting data.

c. New Commitments $33 $74 $48 All information is domestic and estimated based on internal reporting data.

4. Small Business Loans3

a. Average Total Loan Balance $394 $397 $395 Initial request for data as of 4/30/09. All information is domestic and estimated based on a

combination of internal and regulatory reporting data.

Average total lo

work down inve

new commitme

Commercial rea

commercial real 

seasonal, decrea

Small business a

30.2% over the p

SCHEDULE C: MEMORANDA ‐ SMALL BUSINESS LENDING (Millions $)

2

b. Originations $34 $43 $30 Initial request for data as of 4/30/09. All information is domestic and estimated based on internal

reporting data.

SCHEDULE D: OTHER INTERMEDIATION ACTIVITIES (Millions $)

1. MBS/ABS Net Purchased Volume

a. Mortgage Backed Securities $132 $28 $0 All information is domestic and estimated based on internal reporting data.

b. Asset Backed Securities $55 $6 $35 All information is domestic and estimated based on internal reporting data.

2. Secured Lending (Repo, PB, Margin Lending)

a. Average Total Matched Book (Repo/Reverse Repo)1 N/A N/A N/A

b. Average Total Debit Balances2 N/A N/A N/A3. Underwriting

a. Total Equity Underwriting N/A N/A N/A

b. Total Debt Underwriting $0 $9,347 $1,427 All information is domestic and estimated based on internal reporting data.

Secured lending 

Northern Trust d

Public Finance u

transactions: Sta

Corporation ‐ $1Timing of securi

market conditio

Enterprises and 

Notes:3. Memoranda: these loans are already accounted for in either consumer lending, commercial lending, or a combination of both, and include loans guaranteed by the Small Business Administration and/or any other loans that are internally classified as small business loans.

2. Applicable only for institutions offering prime brokerage or other margin lending services to clients.

1. Not applicable if matched book activity does not exceed $50 billion.

2
TREASURY MONTHLY INTERMEDIATION SNAPSHOT

Name of institution:  Northern Trust Corporation

Reporting month(s):  October 2009   

Submission date:  November 30, 2009

Person to be contacted regarding this report: Patricia K. Bartler

1

PART II.  QUALITATIVE OVERVIEW

Please provide a brief overview of the intermediation activity during the month.  This discussion should

include a general commentary on the lending environment, loan demand, any changes in lending

standards and terms, and any other intermediation activity.

Company Description:  Northern Trust Corporation (NTC) provides investment management, asset and

fund administration, fiduciary and banking services for corporations, institutions and successful

individuals worldwide.  As of September 30, 2009, our loans and leases totaled $28.1 billion, assets

under custody totaled $3.6 trillion, and assets under management totaled $610.5 billion.    

In our institutional business, Northern Trust clients include non‐profit foundations, college and

university endowments, and retirement plans for corporations, unions, and local, state and national

governmental agencies.  In our personal business, Northern Trust clients include individuals and families,

primarily in the United States.  We provide mortgages and other personal loans to our clients, in

addition to a breadth of financial planning services.

Businesses in which we have actively chosen to not participate include sub‐prime mortgage

underwriting, asset backed commercial paper conduits, credit cards, auto loans, and investment

banking.  Although our focus is principally on investment management and administration, we continue

to use our balance sheet to provide loan and deposit services to our clients.   

On June 17, 2009 NTC completed the redemption of all of the 1,576,000 preferred shares issued to the

U.S. Department of the Treasury under the TARP Capital Purchase Program and on August 26, 2009

NTC repurchased the warrant related to this investment, which resulted in a 14% annualized return to

the U.S. Treasury and taxpayers.

Residential Lending:  Mortgage applications increased by 41.8% in October 2009 when compared to

September 2009.  This is due to a decrease in interest rates and stabilizing home values.

Northern Trust's mortgage portfolio includes only traditional mortgage origination.  Northern Trust has

never been in the sub‐prime market; does not routinely use mortgage brokers; and has no payment

option adjustable rate mortgages.  Moreover, Northern Trust does not sell or securitize pools of

mortgages, so we are in a position to work directly with the majority of our mortgage holders on any

payment problems.

We are endeavoring to provide tools for borrowers with short‐term mortgage payment issues, and a

willingness and ability to pay in the long term that might allow them to stay in their homes.  Options we

have utilized include: past due payment postponements; modifications; and forbearance agreements.  
TREASURY MONTHLY INTERMEDIATION SNAPSHOT

Name of institution:  Northern Trust Corporation

Reporting month(s):  October 2009   

Submission date:  November 30, 2009

Person to be contacted regarding this report: Patricia K. Bartler

2

In October 2009 Northern Trust decreased interest rates or modified residential mortgages totaling

$56.8 million, a 58% increase over September.  As part of this Program, a committee reviews all home

mortgages with payment problems in order to avoid preventable foreclosures.  These efforts provide for

consistent and equitable treatment with regard to modifications, extensions, or foreclosure (if deemed

appropriate).

We have a very small number of foreclosures in progress nationally ‐‐ currently less than one quarter of

one percent of the total number of mortgage loans outstanding.  We have examined each situation

closely to confirm that appropriate options have been considered.

Deposit Growth:  Our deposit business continues to be strong with depositors of all types seeking

confidence through strength of the institution in addition to the guarantees of FDIC. Our domestic

deposits were $24.5 billion at 9/30/09.   

Commercial & Industrial:  In the large corporate market, many clients have reduced their borrowing.  

With slower sales, inventory and accounts receivable levels have decreased and companies have used

the resulting cash to reduce the outstanding amounts on their revolving credits.  In addition, due to the

dim outlook for near term growth, companies have curtailed plans for capital expansion projects and are

instead conserving cash.  While this is particularly true with manufacturing and distribution companies,

we have also found this trend evident in hospitals and universities which have experienced reductions in

their endowment investments.  Finally, we have seen the bond and commercial paper markets re‐open,

leading to reduced usage of bank loans.   

The Commercial Real Estate market continues to be particularly challenging.  Developers are regularly

terminating plans for office building and retail center projects.  Due to the economic stress, corporations

are reducing staff, leading to a decrease in the need for additional office space.  The sudden downturn in

retail sales has caused retailers to reduce expansion plans and there has been a significant increase in

the amount of vacant retail space.  The market for permanent financing has also deteriorated, so

construction loans have remained on the books longer than expected.  We continue to lend for

creditworthy projects with strong guarantors.   
Name of institution: PNC Financial Services Group Submission date: 11/30/2009 Person to be conta

PART I. QUANTITATIVE OVERVIEW

2009

SCHEDULE A: CONSUMER LENDING (Millions $) AUG SEP OCT Key 1. First Mortgagea. Average Loan Balance (Daily Average Total Outstanding) $20,834 $20,536 $20,143

b. Total Originations $1,138 $900 $824 First Mortgage originations in the table represent National City Mortgage Company

originations, as well as PNC purchases of loans originated by PNC Mortgage, LLC, a 49.9% PNC

owned joint venture with Wells Fargo. October is the last month for PNC Mortgage, LLC to take

in new first mortgage applications.

(1) Refinancings $647 $501 $470

(2) New Home Purchases $491 $399 $354

2. Home Equity

a. Average Total Loan Balance $36,526 $36,399 $36,260b. Originations (New Lines+Line Increases) $403 $369 $301

T l U d d U d C i $56 714 $56 485 $56 342

TREASURY MONTHLY INTERMEDIATION SNAPSHOT

1

c. Total Used and Unused Commitments $56,714 $56,485 $56,342

3. US Card ‐ Managed

a. Average Total Loan Balance ‐ Managed $6,691 $6,605 $6,620

b. New Account Originations (Initial Line Amt) $205 $182 $176

c. Total Used and Unused Commitments $26,125 $25,775 $24,966

4. Other Consumer

a. Average Total Loan Balance $11,960 $12,509 $12,719b. Originations $734 $569 $265

• Line 3 represents credit cards and other revolving products exposure.

• Total oustandings for Credit card alone were flat from September to October at $4,116

million. New account volume for Credit Card alone fell 2% from September Level.

1
SCHEDULE B: COMMERCIAL LENDING (Millions $) AUG SEP OCT Key 

1. C & Ia. Average Total Loan and Lease Balance $63,143 $61,765 $61,024b. Renewal of Existing Accounts $3,451 $4,044 $3,587

c. New Commitments $1,987 $1,493 $1,9032. Commercial Real Estate

a. Average Total Loan and Lease Balance $24,614 $23,998 $24,063b. Renewal of Existing Accounts $605 $605 $772

c. New Commitments $235 $519 $1824. Small Business Loans3

a. Average Total Loan Balance $12,130 $11,781 $11,693

$ $ $

The Small Business loans include PNC Business Banking (Retail line of business) plus those small

business loans that are managed in our C&IB portfolio.

SCHEDULE C: MEMORANDA ‐ SMALL BUSINESS LENDING (Millions $)

2

b. Originations $306 $305 $293SCHEDULE D: OTHER INTERMEDIATION ACTIVITIES (Millions $)

1. MBS/ABS Net Purchased Volume

a. Mortgage Backed Securities $2,167 $1,244 $300 Trade Date was used to determine the month in which the purchase occurred. The Mortgage

Backed Securities include MBS, CMBS, CMO's (both agency and non‐agency). Also, the Net

Purchased amount consists of Purchases less sells for the month.

b. Asset Backed Securities $60 $378 $355

2. Secured Lending (Repo, PB, Margin Lending)

a. Average Total Matched Book (Repo/Reverse Repo)1 N/A N/A N/A PNC matched book activity is less than $50 billion and is therefore not being reported, per

Treasury's guidance in footnote 1.

b. Average Total Debit Balances2 N/A N/A N/A PNC is not a prime broker and does not offer other margin lending services to clients.

Therefore, per Treasury's guidance in footnote 2, this section is not applicable to PNC.

3. Underwriting

a. Total Equity Underwriting $28 $43 $9

b. Total Debt Underwriting $256 $387 $376

Notes:3. Memoranda: these loans are already accounted for in either consumer lending, commercial lending, or a combination of both, and include loans guaranteed by the Small Business Administration and/or any other loans that are internally classified as small business loans.

2. Applicable only for institutions offering prime brokerage or other margin lending services to clients.

1. Not applicable if matched book activity does not exceed $50 billion.

2
TREASURY MONTHLY INTERMEDIATION SNAPSHOT

Name of institution: PNC Financial Services Group, Inc.

Reporting month(s): October 2009   

Person to be contacted regarding this report: Shaheen Dil

Submission date: November 30, 2009

                                                           

PART II.  QUALITATIVE OVERVIEW

Please provide a brief overview of the intermediation activity during the month.  This discussion should

include a general commentary on the lending environment, loan demand, any changes in lending

standards and terms, and any other intermediation activity.

The PNC Financial Services Group, Inc. (www.pnc.com) is one of the nation’s largest diversified financial

services organizations providing retail and business banking; residential mortgage banking; specialized

services for corporations and government entities, including corporate banking, real estate and asset‐

based lending; wealth management; asset management and global fund services. We closed the

acquisition of National City (NCC) on December 31, 2008, thereby making PNC the fifth largest deposit

taking institution in the country.  

PNC is committed to supporting the objectives of the Emergency Economic Stabilization Act, and is

continuing to make credit available to qualified borrowers. PNC is working closely where appropriate

with customers who are experiencing financial hardship to set up new repayment schedules, loan

modifications and forbearance programs. In October 2009 PNC approved new and renewed commercial

loans of approximately $6.3 billion.∗   Overall, PNC originated approximately $8.0 billion in loans and

commitments to lend in October, $0.8 billion (9%) below September.

First Mortgage

New first mortgage applications in October were $1.65 billion, up 11% from September.  Applications for

new purchase money mortgages increased 5% from the prior month, while refinance applications rose

14%.  October closed loan origination volume of $824 million was down 9% from September, following

application trends of prior months.  Conventional loans originated for sale to Fannie Mae or Freddie Mac

were 59% of total, with FHA insured and VA guaranteed loans accounting for the majority of the

remainder.  Fixed rate mortgages represented 93% of all originations in the month.  October was the

last month for the PNC Mortgage, LLC joint venture with Wells Fargo to take in new first mortgage

applications. However, the pipeline of loans in process will result in continuing closed loan production

for the next 60 to 90 days.

Execution of the Home Affordable Refinance Program (HARP) and the Home Affordable Modification

Program (HAMP) continues. During October, 312 HARP refinances totaling $62.9 million were funded.  

The HARP program to date has funded 1,504 refinances totaling $305 million.  HAMP solicitation efforts

continue. PNC Mortgage services 42,504 mortgages that meet HAMP eligibility requirements and has

supplied an application to all of them.  Of those, 15,621 (37%) HAMP Trial Plan offers have been

extended to eligible borrowers, and 7,906 borrowers (19%) are active in HAMP Trial Modifications.  PNC

continues to reach out to borrowers who have not yet responded.

∗ Through September 2009, only Legacy PNC has been reported. NCC data was not available. Beginning with 

October 2009, the combined total will be presented, and prior month comparisons will resume with November. 

1
TREASURY MONTHLY INTERMEDIATION SNAPSHOT

Name of institution: PNC Financial Services Group, Inc.

Reporting month(s): October 2009   

Person to be contacted regarding this report: Shaheen Dil

Submission date: November 30, 2009

Consumer Lending

Consumer Lending has been focusing its efforts on understanding the impact of the current consumer

appetite, lending needs, and financing challenges due to the economic environment.  Many actions have

been taken to address these impacts such as increasing the visibility of current lending promotions,

expansion of internet advertising, and a continued effort in working with our branch bankers to ensure

they are properly prepared to have good need‐based conversations with their customers.  

In October, Home Equity originations declined as a result of both diminished consumer appetite for debt

and normal seasonal origination trends.  In general, these lower origination levels coupled with regular

account liquidations are causing the overall Home Equity portfolio to decline.  

In Other Consumer Loans, Education Lending comprised $141 million of the $265 million (53%) in

volume. October is normally a slower month as financing for the semester is generally completed.

October's Education Loan volume was down 9.6% from October 2008, mostly due to a number of large

clients switching their funding source away from banks to the Federal Direct Student Loan Program.

With respect to Auto Loans, Direct lending consisted of $35 million of the direct originations. In Indirect

Lending, loans booked were down compared to September, due to the lack of demand and limited

supply of vehicle inventory nationally.  October 2009 YTD Indirect loan volume of $818.3 million is 36.5%

ahead of October 2008 YTD.   

In Loss Mitigation – Distressed Assets – Home Equity, Non‐Prime Mortgage, Bank Owned Mortgage and

Construction Lending, we recently launched three local Homeowners Assistance Programs providing

distressed borrowers local access in high risk markets to loan mitigation counselors.  These loan

modification centers located in Seal and Sacramento, California and Tempe, Arizona will engage in

proactive and reactive customer contact activities to modify first mortgages, construction loans and

home equity loans and lines.  In addition, we have engaged in a root cause analysis on right party

contact rates in order to understand what is causing our inability to make contact with distressed

borrowers.  

US Credit Cards (excluding other revolving exposure)

Total outstandings for the Credit Card portfolio were flat from September to October ($4.116 billion).  

New account volume fell 2% from September levels.  Total accounts booked in October were 17,700 of

which 14,800 new consumer accounts and 3,000 were business card accounts.  The average credit line

granted was $8,623 for consumer cards and $8,567 for business cards.  Total credit lines granted for

new accounts were slightly higher in October at $152.8 million versus $152.7 million in September.  

Total credit available is $24.1 billion for October, consistent with September.  The branch network

continues to be the main driver of new account activity for the Credit Card portfolio.

Business Banking (in Retail line of business)

Balances in Business Banking (customers with annual revenues less than $10 million) declined .75% in

October 2009 from September 2009.  During October, PNC Business Banking extended nearly $300

2
TREASURY MONTHLY INTERMEDIATION SNAPSHOT

Name of institution: PNC Financial Services Group, Inc.

Reporting month(s): October 2009   

Person to be contacted regarding this report: Shaheen Dil

Submission date: November 30, 2009

million in credit commitments to small businesses including SBA loans.  Targeted leads supplied to the

branches during the summer and fall resulted in higher approval rates and more volume.   

C&I   

PNC remains keenly focused on providing credit to qualified C&I borrowers. During the first nine months

of 2009 we led 99 syndicated financing transactions, totaling more than $4.7 billion, for middle market

companies located across the country.

One of our primary objectives is the ongoing retention of clients that joined PNC as part of the National

City acquisition, as we proceed through the integration and conversion processes. In addition, we

remain highly focused on generating new sales to all our clients across our entire product and service

set. In fact, many of our commercial banking businesses are substantially ahead of results achieved

during the same period last year. We continue to hear from many C&I clients and prospects that they

are being very cautious in their own planning, choosing to protect their existing capital and maintain

existing credit facilities in order to avoid the new realities of today’s market pricing and structure

requirements. Borrowers continue to pay down bank credit with debt and equity issuance, although

equity issuance slowed due to companies entering a quiet period between the close of the third quarter

and the announcement of results in mid October.  And, we continue to see loan utilization rates fall as

our clients’ working capital needs decrease in this economy.

We continue to identify an abundance of asset‐based lending opportunities with companies whose

financial performance may have declined but who remain viable and have asset values that support

secured lending structures.  The current demand has contributed to a record pipeline of new loan

opportunities and we are currently planning to add staff in order to pursue these opportunities.  The

growth provided by new lending opportunities and seasonal borrowing of existing clients reversed the

yearlong decline in customer loan balances associated with lower inventory and receivables levels

resulting from lower sales volumes and better balance sheet management.  Line utilization remains in

line with the industry averages of 39%, which is almost 10% lower than the same period of 2008.

We should also note that PNC’s loan growth may be impacted by the need to gradually reduce credit

exposure to some companies where PNC and National City have historically both provided credit and

where the combined loan levels are now in excess of established risk tolerance limits.

Commercial Real Estate

PNC remains committed to commercial real estate lending.  However, the slowdown in the overall

market, coupled with reduced borrower demand, the substantial combined exposure of PNC and

National City, as well as ongoing payoffs and charge‐offs, suggest that aggregate loan balances will

continue to decline for some time. PNC continues to work with credit‐worthy borrowers to restructure

and modify their loans.  In addition, PNC continues to be very active in real estate lending to multifamily

owners and operators with whom we are leveraging our strong relationships with agency lenders such

as Fannie Mae and Freddie Mac.  However, production is anticipated to trend down during the second

half of the year due in part to the higher underwriting standards of the agencies that may make some

projects less viable.  While most of these programs do not result in loans on our balance sheet, many do

3
TREASURY MONTHLY INTERMEDIATION SNAPSHOT

Name of institution: PNC Financial Services Group, Inc.

Reporting month(s): October 2009   

Person to be contacted regarding this report: Shaheen Dil

Submission date: November 30, 2009

4

require substantial use of capital to support loss‐sharing arrangements. PNC also continues to purchase

Low Income Housing Tax Credits that provide equity for the construction of low‐income housing

projects. Although these investments are not reflected as loans on our balance sheet, they do inject

growth capital into the economy and require substantial use of our own capital base.  
Name of institution: Regions Financial Corporation Submission date: November 30, 2009 

PART I. QUANTITATIVE OVERVIEW

SCHEDULE A: CONSUMER LENDING (Millions $)

1. First Mortgage AUG SEP OCT Key 

a. Average Loan Balance (Daily Average Total Outstanding) $16,409 $16,175 $16,186 First and second residential 1‐4 family mortgages, including residential mortgages held for 

b. Total Originations $575 $549 $619 Loan originations designated for the secondary market and those to be held in portfolio o

Regions' balance sheet.

(1) Refinancings $296 $266 $311 Total originations designated as refinance status.

(2) New Home Purchases $278 $284 $308 Total originations designated as new purchase status.

2. Home Equity

a. Average Total Loan Balance $15,711 $15,660 $15,599 Average balances include Home Equity loans and HELOCs.

b. Originations (New Lines+Line Increases) $102 $108 $87 New Home Equity loans, lines and increases.

2009

TREASURY MONTHLY INTERMEDIATION SNAPSHO

c. Total Used and Unused Commitments $26,362 $26,194 $26,039 Total portfolio of Home Equity loans and funded and unfunded HELOCs. Funded portion i

in average balance above.

3. US Card ‐ Managed

a. Average Total Loan Balance ‐ Managed N/A N/A N/A N/A ‐ Regions Financial Corp is an Agent Bank.

b. New Account Originations (Initial Line Amt) N/A N/A N/A

c. Total Used and Unused Commitments N/A N/A N/A

4. Other Consumer

a. Average Total Loan Balance $4,246 $4,312 $4,265 Includes consumer direct, indirect, other revolving (i.e., overdraft lines) and student loans 

for sale.

b. Originations $222 $192 $123 Includes direct and student lending origination activity.

1
SCHEDULE B: COMMERCIAL LENDING (Millions $)

1. C & I AUG SEP OCT Key 

a. Average Total Loan and Lease Balance $22,287 $21,947 $21,843 Average outstanding funded balances (net of deferred fees and costs) for non‐real estate,

commercial related loans and leases.

b. Renewal of Existing Accounts $1,514 $1,418 $1,502 Renewal of existing funded and unfunded commitments for non‐real estate, commercial r

loans based upon posting date of renewal. Also includes letters of credit.

c. New Commitments $787 $789 $681 New funded and unfunded commitments for non‐real estate, commercial related loans ba

upon posting date of the commitment. Also includes letters of credit and leases. Variable 

Demand Note (VRDN) fundings are excluded from new commitment activity.

2. Commercial Real Estate

a. Average Total Loan and Lease Balance $36,994 $36,610 $36,030 Average outstanding funded balances (net of deferred fees and costs) for commercial rela

loans secured by real estate. Also includes Commercial loans held for sale.

b. Renewal of Existing Accounts $1,586 $1,818 $1,612 Renewal of existing funded and unfunded commitments for commercial related loans secu

real estate based upon posting date of renewal. Also includes letters of credit.

c. New Commitments $365 $222 $194 New funded and unfunded commitments for commercial related loans secured by real est

based upon posting date of the commitment. Also includes letters of credit. Variable Rate

Demand Note (VRDN) fundings are excluded from new commitment activity.

SCHEDULE C: MEMORANDA ‐ SMALL BUSINESS LENDING (Millions $)

4. Small Business Loans3

a. Average Total Loan Balance $14,314 $14,136 $13,955 Average outstanding funded balances (net of deferred fees and costs) for commercial and commercial real estate re

loans made to small business clients, which we generally define as clients with revenues up to $10 million. Theses b

g y p

are reflected as components of C&I , Commercial Real Estate and First Mortgage reported above.

b. Originations $573 $551 $563 New and renewed production of funded and unfunded commitments made to small busin

clients, which we generally define as clients with revenues up to $10 million. These origin

are reflected as components of C&I and Commercial Real Estate reported above.

SCHEDULE D: OTHER INTERMEDIATION ACTIVITIES (Millions $)

1. MBS/ABS Net Purchased Volume

a. Mortgage Backed Securities $1,911 $1,296 $3,724 Net purchase volume as captured in bond accounting system. Reflects settlement date.

b. Asset Backed Securities $0 $0 $0

2. Secured Lending (Repo, PB, Margin Lending)

a. Average Total Matched Book (Repo/Reverse Repo)1 N/A N/A N/A

b. Average Total Debit Balances2 $712 $762 $839 Reflects average margin receivables as recorded on the general ledger.

3. Underwriting

a. Total Equity Underwriting $65 $66 $36 Total equity underwriting activity. Represents Regions' participation percentage.b Ttl D bt U d iti $1 271 $1 245 $1 442 D bt i d li d thl R t Ri ' ti i ti tb. Total Debt Underwriting $1,271 $1,245 $1,442 Debt issuances delivered monthly. Represents Regions' participation percentage.

Notes:3. Memoranda: these loans are already accounted for in either consumer lending, commercial lending, or a combination of both, and include loans guaranteed by the Small Business Administration and/or any other loans that are internally classified as small busines

2. Applicable only for institutions offering prime brokerage or other margin lending services to clients.

1. Not applicable if matched book activity does not exceed $50 billion.

2
TREASURY MONTHLY INTERMEDIATION SNAPSHOT

Name of institution: Regions Financial Corporation

Reporting month(s):  October, 2009      

Submission date:  November 30, 2009

Person to be contacted regarding this report:  Irene M. Esteves, Chief Financial Officer

1

PART II.  QUALITATIVE OVERVIEW

Please provide a brief overview of the intermediation activity during the month.  This discussion should

include a general commentary on the lending environment, loan demand, any changes in lending

standards and terms, and any other intermediation activity.

I. Company Description

Regions Financial Corporation (“Regions” or the “Company”) is a financial holding company

headquartered in Birmingham, Alabama, which operates throughout the South, Midwest and Texas.

Regions provides traditional commercial, retail and mortgage banking services, as well as other financial

services in the fields of investment banking, asset management, trust, securities brokerage, insurance

and other specialty financing.  At September 30, 2009, Regions had total consolidated assets of

approximately $140 billion.   

Regions conducts its banking operations through Regions Bank, its brokerage and investment banking

business through Morgan Keegan & Company, Inc. (“Morgan Keegan”), and its insurance brokerage

business through Regions Insurance Group, Inc.

II. Overall Summary  

In October, new and renewed commitments were down slightly to $4.8 billion and average balances

were down $0.8 billion from September to $93.9 billion.

The month over month decline in new and renewed commitments was driven primarily by an 11.5%

reduction in new and renewed commitments associated with Commercial Real Estate.

III. Consumer Lending

A. Mortgage Lending

The mortgage division originated mortgage loans totaling $619 million in October of 2009.  Overall

production increased 12.7% from the prior month.  New purchase originations increased from the prior

month 8.7%, and refinancing activity increased 16.9%.  Application activity increased 2.8% due primarily

to average interest rates during October remaining relatively stable from the final days of September

Regions’ mortgage division rolled out the U.S. Treasury sponsored Home Affordable Refinance Program

(HARP) in late March, which provides borrowers who have an existing loan owned or securitized by

Fannie Mae or Freddie Mac, the ability to refinance to more beneficial financing terms with no new or

additional mortgage insurance required, even if their current loan‐to‐value ratio is higher than it was on

the original loan.  Initially the loan‐to‐value ratio could not exceed 105%; however, this limit was

increased to 125% effective July 22. September originations included approximately $56 million related

to 308 loans refinanced under the Home Affordable Refinance Program.
TREASURY MONTHLY INTERMEDIATION SNAPSHOT

Name of institution: Regions Financial Corporation

Reporting month(s):  October, 2009      

Submission date:  November 30, 2009

Person to be contacted regarding this report:  Irene M. Esteves, Chief Financial Officer

2

Regions’ has implemented the U. S. Treasury sponsored Home Affordable Modification Program (HMP)

for FNMA/FHLMC loans serviced by Regions. This program is designed to assist mortgage borrowers who

have an existing loan owned or securitized by Fannie Mae or Freddie Mac, and who are in imminent

danger of default or are already in default to obtain modified financing terms prescribed by the

program.  In accordance with the program guidelines, Regions has distributed approximately 683

modification packages to eligible borrowers subject to a ninety‐day trial period. The first modifications

under this program were seen in July 2009.  In the month of October, Regions completed 73

modifications totaling $11 million in unpaid principal.  Regions currently services approximately $20.0

billion of Fannie Mae and Freddie Mac mortgages.

B. Home Equity Lending

Home Equity production decreased 19.6% in October to $86.5 million due in part to seasonality. Home

Equity Lending production remains low, down 61% compared to same period prior year, as a result of

fewer applications and the average loan size decreasing $14,345 from $82,914 in October ’08 to $68,569

in October ‘09 . Reduced application volume is due in part to the lack of appetite by consumers to take

on additional debt. The decline in home values limits the qualifying amount for homeowners, thus

driving lower loan sizes. In an effort to stimulate volume, a preapproved HELOC offer was mailed to

approximately 195,000 Regions’ customers without a HELOC. The mailing occurred in two drops on

October 21st and 28th, and corresponding call lead lists were provided to the branches.  

Overall Home Equity balances declined $60.7 million or 0.39% in October to $15.6 billion.  The HELOAN

portfolio declined $35.5 million, 1.9%, while HELOC balances declined $25.2 million, 0.18%, reflecting

portfolio paydowns in excess of new production.

C. Other Consumer Lending

Overall, Other Consumer Lending balances decreased 1.1% in October compared to September primarily

as a result of the continued run‐off in the Indirect Lending portfolio.  However, this decrease was offset

by an increase in Student Lending balances because of a decline in routine student loan sales.  Overall,

October originations decreased when compared to September, primarily as a result of the seasonality in

the student lending portfolio (i.e. fall term originations).

D. Customer Assistance Program

Regions continues to work to meet the unique needs of financially troubled borrowers to stem

foreclosures and keep customers in their homes. Well before the full effects of the credit crisis were

realized, Regions launched an extensive Customer Assistance Program (CAP) for troubled borrowers.  As

unemployment levels continue to elevate and the housing crisis lingers our goal remains the same ‐ to

ensure customers who encounter financial difficulty that they have options and we want to work with

them.

As a result, Regions has taken steps including renegotiating the terms of mortgages and home equity

loans, keeping families in their homes and allowing Regions to maintain a foreclosure rate well below
TREASURY MONTHLY INTERMEDIATION SNAPSHOT

Name of institution: Regions Financial Corporation

Reporting month(s):  October, 2009      

Submission date:  November 30, 2009

Person to be contacted regarding this report:  Irene M. Esteves, Chief Financial Officer

3

industry average for residential first mortgages.  Overall, the number of Regions first mortgage loans in

the foreclosure process is less than half the national average (1.79% for Regions vs. 4.47% nationally in

the third quarter of 2009).  Since inception of the program, Regions has restructured more than $1.6

billion in mortgages, including $1 billion Oct YTD 2009. Regions has assisted more than 21,500

homeowners with solutions.

IV. Commercial Lending

A.  Commercial and Industrial Lending

Loan demand remained soft in October, as the stagnant economy continues to drive more conservative

leverage positions. Renewed loan commitments increased for the month, while new loan commitments

decreased. Outstanding loan balances decreased in October primarily due to the remarketing of Variable

Rate Demand Notes.

In the middle market, client appetite for additional debt remains low and clients are utilizing cash to pay

down debt. Lower sales volumes have resulted in lower inventory and accounts receivable financing

requirements.  Businesses are less likely to invest in or expand their operations given the negative

economic outlook. Line utilization rates in October were down versus September.

Lending activity continues to increase in the not‐for‐profit/public institution sector, as many large

investment‐grade borrowers are exiting the bond market and seeking senior bank debt. With the

expansion of the rules for bank qualified lending, the Stimulus Act is providing additional opportunities

to extend credit to public entities.

Regions defines small business, in general, as clients with revenues up to $10 million.  Small business

lending activity is reflected within our Commercial and Industrial, Commercial Real Estate and

Residential Mortgage outstanding loan balances and production.   

Small businesses are experiencing lower working capital requirements resulting from lower sales

volumes and are reluctant to make capital investments given the negative economic outlook.  As a

result, we are seeing small businesses build cash in their operating accounts.  Loan pipelines ended

October 2009 at 85% of the prior year level, however, pipelines are up 5% in October versus September.

B.  Commercial Real Estate Lending

The focus in commercial real estate lending continues to be on renewing and restructuring real estate

loans with existing clients versus active pursuit of new real estate loans.  We are working with

homebuilder clients to renew their loans as they mature, inclusive of a minimum spread increase

requirement and loan restructuring, as appropriate.  As homebuilders sell existing inventory, we

continue to convert lot loans to residential construction loans, in turn, reducing our land and lot

portfolio.  Renewal activity with respect to the remaining commercial real estate and construction

portfolio includes loan restructuring, remargining and repricing, consistent with the current credit

quality of the sponsor, the performance of the project and the current market.  Our underwriting

criteria continue to reflect the risks of declining property prices and stressed cash flows.  
TREASURY MONTHLY INTERMEDIATION SNAPSHOT

Name of institution: Regions Financial Corporation

Reporting month(s):  October, 2009      

Submission date:  November 30, 2009

Person to be contacted regarding this report:  Irene M. Esteves, Chief Financial Officer

4

New loan demand remained low in October. Developers are reluctant to begin new projects or purchase

existing projects under current economic conditions.  Average loan balances were down 1.6% in October

from September levels.

V. Treasury Activities  

Management of interest rate risk is among the most fundamental tenets in banking.  Banking

institutions utilize the Available for Sale investment portfolio as a primary tool to balance the inherent

interest rate risk arising from core banking activities.  Agency Mortgage‐Backed securities provided an

efficient means to offset asset sensitivity and maintain the desired liquidity profile, while offering a

compelling risk adjusted return on the use of capital.  Mortgage‐Backed security activity in October

totaled $3.7 billion, which consists of 30 year Agency Fixed‐Rate Mortgage‐Backed Pass‐through's and

Collateralized Mortgage Obligations (CMOs).  

V. Equity and Debt Activities at Morgan Keegan

Morgan Keegan's continued strong bond issuance in October is consistent with usual end‐of‐year push

in bond issuance by our clients.  We expect this trend to continue into November and December.  In

October, Morgan Keegan participated in two equity transactions with one being a selling group member.  

Although Morgan Keegan’s backlog is light, there is a growing backlog of shelf registrations as well as

IPO’s. Morgan Keegan would anticipate participating in several overnight or one‐day marketed

transaction before year‐end.  
Name of institution: STATE STREET CORPORATION Submission date: November 20, 2009 Person to be c

PART I. QUANTITATIVE OVERVIEW

SCHEDULE A: CONSUMER LENDING (Millions $) AUG SEP OCT Key 1. First Mortgagea. Average Loan Balance (Daily Average Total Outstanding) N/A N/A N/A Schedule A is not applicable.

b. Total Originations N/A N/A N/A(1) Refinancings N/A N/A N/A(2) New Home Purchases N/A N/A N/A

2. Home Equity

a. Average Total Loan Balance N/A N/A N/A Schedule A is not applicable.

b. Originations (New Lines+Line Increases) N/A N/A N/A

TREASURY MONTHLY INTERMEDIATION SNAPSHOT

State Street doe

2009

State Street doe

1

c. Total Used and Unused Commitments N/A N/A N/A

3. US Card ‐ Managed

a. Average Total Loan Balance ‐ Managed N/A N/A N/A Schedule A is not applicable.

b. New Account Originations (Initial Line Amt) N/A N/A N/A

c. Total Used and Unused Commitments N/A N/A N/A

4. Other Consumer

a. Average Total Loan Balance N/A N/A N/A Schedule A is not applicable.

b. Originations N/A N/A N/A

State Street doe

State Street doe

1
SCHEDULE B: COMMERCIAL LENDING (Millions $) AUG SEP OCT Key 

1. C & Ia. Average Total Loan and Lease Balance $9,184 $9,698 $9,882 Composed of fund facilities, overdraft lines of credit, leases and lines of credit to insurance,

corporate and other borrowers.

b. Renewal of Existing Accounts $692 $880 $589 Primarily composed of renewals of customer credit facilities net of reductions, including

expirations.

c. New Commitments $75 $874 $278 Primarily composed of credit facility commitments to fund customers.

2. Commercial Real Estate

a. Average Total Loan and Lease Balance $594 $593 $592 Composed of loans acquired from certain customers pursuant to indemnified repurchase

agreements.

b. Renewal of Existing Accounts $0 $19 $0

c. New Commitments $0 $0 $04. SMALL BUSINESS LOANS3

a. Average Total Loan Balance N/A N/A N/A

The decreases in 

2008 from certa

SCHEDULE C: MEMORANDA ‐ SMALL BUSINESS LENDING (Millions $)

Average C&I out

of credit from ou

facilities, which 

requirements. F

$1.055 billion an

approved and cl

finalized as of O

2

b. Originations N/A N/A N/ASCHEDULE D: OTHER INTERMEDIATION ACTIVITIES (Millions $)

1. MBS/ABS Net Purchased Volume

a. Mortgage Backed Securities $1,692 $2,098 $844 Amount reported represents gross purchases net of gross sales, on a settlement date basis,

reduced by principal pay‐downs.

b. Asset Backed Securities $316 $976 $801 Amount reported represents gross purchases net of gross sales, on a settlement date basis,

reduced by principal pay‐downs.

2. Secured Lending (Repo, PB, Margin Lending)

a. Average Total Matched Book (Repo/Reverse Repo)1 N/A N/A N/A

b. Average Total Debit Balances2 N/A N/A N/A3. Underwriting

a. Total Equity Underwriting N/A N/A N/A

b. Total Debt Underwriting N/A N/A N/A

During the curre

mortgage‐backe

mortgage‐backe

Notes:3. Memoranda: these loans are already accounted for in either consumer lending, commercial lending, or a combination of both, and include loans guaranteed by the Small Business Administration and/or any other loans that are internally classified as small business loans.

2. Applicable only for institutions offering prime brokerage or other margin lending services to clients.

1. Not applicable if matched book activity does not exceed $50 billion.

2
TREASURY MONTHLY INTERMEDIATION SNAPSHOT

Name of institution: STATE STREET CORPORATION

Reporting month(s):  October 2009

Submission date:  November 20, 2009

Person to be contacted regarding this report: Stefan Gavell

1

PART II.  QUALITATIVE OVERVIEW

Please provide a brief overview of the intermediation activity during the month.  This discussion should

include a general commentary on the lending environment, loan demand, any changes in lending

standards and terms, and any other intermediation activity.

On June 17, 2009, State Street Corporation (“State Street”) repaid the full amount of the US Department

of the Treasury’s $2 billion investment in the company under the TARP Capital Purchase Program

(“CPP”), and on July 8, 2009, State Street repurchased the remaining outstanding warrant to purchase

shares of State Street’s common stock issued under the CPP. Although, with these transactions, State

Street is no longer participating in the CPP, it continues to submit Treasury Monthly Intermediation

Snapshot reports and will do so through the end of 2009, as it understands that these reports are

helpful to Treasury in its efforts to monitor the level of lending and other reported activities in the

economy. In May 2009, State Street completed a public offering of $2.3 billion of its common stock. This

additional capital, after repayment of the Treasury’s CPP investment, enhances State Street’s capital

position and positions it to further develop its business, including by supporting the lending activities for

its institutional clients described below.

State Street provides investment servicing and investment management services to institutional

investors, including retirement funds, mutual funds, and other collective investment pools. Unlike more

traditional banks, we do not directly provide ordinary retail banking services, such as mortgages, credit

cards, or other consumer credit, or engage in investment banking activities. Our lending activities

primarily relate to the provision of credit to a core customer base of institutional investors. We also

accept deposits from institutional customers as part of their investing activities, provide lines of credit

including overdraft extensions that help facilitate the operation of the financial markets, and provide

custody services to institutional investors. As a bank, State Street has access to the payment systems

and the Federal Reserve’s primary credit and Term Auction Facility programs, enabling us to fully service

our customers.

State Street’s two primary lines of business, Investment Servicing and Investment Management, provide

products and services including custody, recordkeeping, daily pricing and administration, shareholder

services, foreign exchange, brokerage and other agency trading services, securities finance, deposit and

short‐term investment facilities, loan and lease financing, investment manager and hedge fund manager

operations outsourcing, performance, risk, and compliance analytics, investment research and

investment management, including passive and active U.S. and non‐U.S. equity and fixed‐income

strategies. Our core business can generally be described as “back‐office” or “middle‐office” in nature,

and gives us a risk‐profile that is generally lower than that of investment or commercial banks.
TREASURY MONTHLY INTERMEDIATION SNAPSHOT

Name of institution: STATE STREET CORPORATION

Reporting month(s):  October 2009

Submission date:  November 20, 2009

Person to be contacted regarding this report: Stefan Gavell

2

While State Street’s customer relationships are with institutional investors, its services indirectly benefit

retirees, mutual fund investors and other individuals participating in these collective investments. Our

role in the financial markets enables the investment process to run smoothly and as intended, and

ultimately, to give our customers’ customers – citizens with savings ‐ the ability to access their

investments when needed. Since State Street’s business model and customer base differ significantly

from traditional commercial and investment banks, its use of the capital received under the CPP

necessarily was different. Accordingly, much of State Street’s application of the additional funding

capacity created by the CPP capital was directed at maintaining and facilitating the functioning of the

securities settlement process, in which we play a central role due to our custodial services, and

providing funding when necessary to our customers, which is the focus of our business in managing and

servicing cash pools, including money market funds, collateral pools or similar mandates.

After we received the CPP capital, we determined that the use of the funding that most directly

reflected our role in the financial markets was to increase the level of available credit and liquidity that

we provide to our fund customers, consisting of mutual fund, retirement fund and other institutional

investors. In November 2008, State Street's Asset and Liability Committee set a target to increase credit

facilities by $2 billion to these customers. Since October 1, 2008, $4.934 billion of new credit facilities to

our fund customers has been approved and closed, along with an additional $412 million to insurance

and corporate customers. As of October 31, 2009, an additional $40 million of credit facilities to fund

customers have received internal credit approval and await completion of documentation.

Equally important are $11.313 billion of gross credit facility renewals that have been approved since

October 1, 2008, of which $10.951 billion were to fund customers and $362 million were to insurance

and corporate customers. These credit facilities provide consistent credit support to our existing

customer base. Of these renewals, $679 million were approved in October 2009, all of which went to

fund customers.

State Street continues to help its core institutional investor customer base in difficult and volatile

markets by increasing our credit facilities and providing short‐term liquidity to support settlement

activities and increased redemption requests that can place considerable liquidity strains on these

customers. While the amount of credit extended will fluctuate with financial market conditions and the

unique circumstances of these institutional investors, State Street’s provision of credit enhances

investors’ ability to adopt a more normalized investment policy despite unexpected levels of cash

demands for redemption or settlement purposes.  

Average C&I outstandings increased during October 2009 primarily due to increased demand from our

fund customers. Average outstandings have returned to more normalized levels during 2009, compared

to the extraordinarily high levels experienced in the fourth quarter of 2008, as customer demand for
TREASURY MONTHLY INTERMEDIATION SNAPSHOT

Name of institution: STATE STREET CORPORATION

Reporting month(s):  October 2009

Submission date:  November 20, 2009

Person to be contacted regarding this report: Stefan Gavell

3

short‐term extensions of credit declined. The lower balances were due to a decrease in customer

demand and not a reduction in credit availability from State Street. As the financial markets improved

from the period of peak disruption following Lehman Brothers bankruptcy in September 2008,

redemption requests declined and fund managers adjusted their portfolios and increased cash holdings.

Peak overdrafts during October 2009, were $4.292 billion, down from their peak of $19.6 billion during

October 2008. As noted above, since October 1, 2008, we have approved approximately $4.974 billion in

new or increased credit facilities to our fund customers, exceeding our target of $2.0 billion.

During the reporting period of August 1, 2009 through October 31, 2009, we purchased approximately

$11.223 billion of mortgage‐ and asset‐backed securities, including $2.417 billion in October 2009.

Maturities, run‐off and sales of such securities totaled approximately $4.496 billion, including $772

million in October 2009. The net purchases of mortgage‐ and asset‐backed securities in October 2009

continued our recent trend of purchasing such securities. Future purchases of such securities will

depend on the overall interest rate risk and balance sheet management objectives, as well as other

factors. We continue to provide liquidity to the inter‐bank and Fed Funds markets, though demand

varies depending on market conditions and the availability of alternative sources of liquidity from

central banks.

State Street also continues to engage in other activities consistent with the goals of the EESA, including

new commitments and funding of low‐income housing investments, energy investments and municipal

bond liquidity and credit enhancements. Since October 1, 2008, State Street’s new commitments and

funding in these areas totaled $1.097 billion, including $4 million in October 2009.
Name of institution: SunTrust Banks, Inc. Submission date: 11/30/09 Person to be c

PART I. QUANTITATIVE OVERVIEW

SCHEDULE A: CONSUMER LENDING (Millions $) AUG SEP OCT Key 1. First Mortgagea. Average Loan Balance (Daily Average Total Outstanding) $34,035 $33,031 $32,439 Consists of (1‐4 family) residential whole loans and closed end loans secured by junior liens

originated as part of a home purchase or refinance transactions. Includes loans retained in

SunTrust's loan portfolio and loans currently recorded in loans held for sale.

b. Total Originations $3,636 $2,754 $2,828 Includes all loans originated or purchased by SunTrust through the Retail and Wholesale channels.

Volumes include all activity regardless of whether the loans are retained in the loan portfolio, or

recorded in loans held for sale and ultimately sold to a third party.

(1) Refinancings $2,055 $1,492 $1,544(2) New Home Purchases $1,581 $1,262 $1,284

2. Home Equity

a. Average Total Loan Balance $18,089 $18,028 $17,873 Average balance, originations, and commitments include both Home Equity Lines and Home Equity

Loans.

b. Originations (New Lines+Line Increases) $121 $110 $100

TREASURY MONTHLY INTERMEDIATION SNAPSHOT

Originations inc

$592 million com

secondary mark

2009

Average balance

originations dec

1

c. Total Used and Unused Commitments $34,223 $34,112 $33,738

3. US Card ‐ Managed

a. Average Total Loan Balance ‐ Managed $992 $987 $990 SunTrust originates commercial credit cards and carries them in the loan portfolio. Consumer

credit cards are originated through a third party service provider. Consumer portfolios are

periodically purchased from the provider and booked to the loan portfolio.

b. New Account Originations (Initial Line Amt) $5 $3 $4 Originations may include both commercial and consumer credit cards. Commercial cards are

reflected upon origination, while consumer cards are reflected when portfolios are purchased

from the third party service provider.

c. Total Used and Unused Commitments $3,586 $3,569 $3,536 Commitments include both commercial and consumer credit cards. Consumer commitments are

reflected in total commitments, upon purchase from the third party service provider.

4. Other Consumer

a. Average Total Loan Balance $12,051 $12,215 $12,294 Average balances and originations include student loans, direct installment loans (auto and non‐

auto), indirect installment loans (auto and marine), and unsecured personal credit lines.

b. Originations $576 $513 $381

Average balance

September 2009New account or

implementation

Commitments g

provider natura

party service pro

1
SCHEDULE B: COMMERCIAL LENDING (Millions $) AUG SEP OCT Key 

1. C & Ia. Average Total Loan and Lease Balance $35,449 $34,162 $33,293 Includes average outstandings for Commercial & Industrial loans and leases extended to small

business, commercial, middle market, and large corporate clients.

b. Renewal of Existing Accounts $1,266 $1,171 $982 Renewals represent credit facilities and stand‐alone notes that matured and were renewed during

the reporting period. Includes funded loans and unfunded commitments, but does not include

letters of credit or derivatives.

c. New Commitments $656 $1,150 $945 Includes new facilities, stand‐alone notes, and leases extended to new or existing clients. Reflects

both funded loans and unfunded commitments. Does not include takedowns under existing

commitments, letters of credit, or derivatives.

2. Commercial Real Estate

a. Average Total Loan and Lease Balance $23,980 $23,402 $22,974 Includes commercial loans secured by owner occupied or non‐owner occupied real estate.

Includes loans extended for real estate financing as well as loans made for other purposes and

collateralized by real estate.

b. Renewal of Existing Accounts $283 $218 $186 Renewals represent credit facilities and stand‐alone notes that matured and were renewed during

the reporting period. Includes funded loans and unfunded commitments, but does not include

letters of credit or derivatives.

c. New Commitments $132 $221 $202 Includes new facilities and stand‐alone notes extended to new or existing clients. Reflects both

funded loans and unfunded commitments. Does not include takedowns under existing

commitments, letters of credit, or derivatives.

4. SMALL BUSINESS LOANS3

a. Average Total Loan Balance $5,471 $5,434 $5,397 Average balances and originations include loans originated in the business banking group which

includes loans guaranteed by the SBA. Business Banking primarily serves clients with annual sales

of $5 million or less.

Commercial rea

2009.

SCHEDULE C: MEMORANDA ‐ SMALL BUSINESS LENDING (Millions $)

Average loan ba

lines of credit an

trends observed 

credit arrangem

2

of $5 million or less.

b. Originations $45 $48 $40SCHEDULE D: OTHER INTERMEDIATION ACTIVITIES (Millions $)

1. MBS/ABS Net Purchased Volume

a. Mortgage Backed Securities $688 ‐$1,929 $3,738 The numbers represent net purchase volume within the reporting period. These securities are

reported in SunTrust's available‐for‐sale and trading portfolios.

SunTrust purcha

b. Asset Backed Securities $0 $120 $0 The numbers represent net purchase volume within the reporting period. These figures include

securities reported in SunTrust's available‐for‐sale and trading portfolios.

2. Secured Lending (Repo, PB, Margin Lending)

a. Average Total Matched Book (Repo/Reverse Repo)1 n/a n/a n/a SunTrust Bank has less than $50 billion in matched book repos. SunTrust Robinson Humphrey

“STRH”, an institutional broker dealer, is fully disclosed on the equity side through a third party

service provider and does not hold customer accounts.

b. Average Total Debit Balances2 n/a n/a n/a Although STRH self‐clears institutional fixed income transactions, STRH does not carry customer

accounts.

3. Underwriting

a. Total Equity Underwriting $107 $239 $127 Includes total dollars allocated to STRH in equity underwriting transactions that settled within the

reporting period.

b. Total Debt Underwriting $806 $1,463 $564 Includes total dollars allocated to STRH in investment grade fixed income, high yield fixed income,

and municipal debt underwriting transactions that settled within the reporting period.

Equity underwri

investment‐grad

of high‐yield off

Notes:3. Memoranda: these loans are already accounted for in either consumer lending, commercial lending, or a combination of both, and include loans guaranteed by the Small Business Administration and/or any other loans that are internally classified as small business loans.

2. Applicable only for institutions offering prime brokerage or other margin lending services to clients.

1. Not applicable if matched book activity does not exceed $50 billion.

2
TREASURY MONTHLY INTERMEDIATION SNAPSHOT

Name of institution:  SunTrust Banks, Inc.

Reporting month(s):  October 2009   

Submission date: 11/30/09

Person to be contacted regarding this report:  Barry Koling

1

PART II.  QUALITATIVE OVERVIEW

Please provide a brief overview of the intermediation activity during the month.  This discussion should

include a general commentary on the lending environment, loan demand, any changes in lending

standards and terms, and any other intermediation activity.

SunTrust Banks, Inc., with total assets of $172.7 billion on September 30, 2009, is one of the nation’s

largest financial holding companies.  Through its banking subsidiaries, the Company provides deposit,

credit, trust, and investment services to a broad range of retail, business, and institutional clients. Other

subsidiaries provide mortgage banking, brokerage, investment management, equipment leasing, and

capital market services.  SunTrust operates 1,690 retail branches in Alabama, Arkansas, Florida, Georgia,

Maryland, Mississippi, North Carolina, South Carolina, Tennessee, Virginia, West Virginia, and the

District of Columbia.  In addition, SunTrust services clients in select markets nationally.   

Average loans in October, including loans held for sale, totaled $119.9 billion.  These totals do not

include loans extended to clients and sold to third parties.  This fact is particularly relevant when

considering the mortgage portfolio, since the majority of new originations and refinanced mortgage

loans are sold to third parties.  Overall in October, total new loan originations, commitments, and

renewals extended to all borrowers totaled $5.6 billion, a decrease of 8.3% from the September total.  

The general recessionary economic environment resulted in limited opportunities for extending new

credit to qualified borrowers.   This was particularly true for individuals and families impacted by

increasing unemployment and depressed property valuations in SunTrust’s markets.  The contraction in

overall business demand prompted wholesale borrowers to utilize excess capital and liquidity to reduce

their outstanding debt, and in some cases, seek other funding sources.

Consumer Lending

Mortgage originations totaled $2.8 billion during October, representing a 2.7% increase from

September, and a 4.6% increase over October 2008.  Relative to September, average mortgage balances

decreased $592 million or 1.8% during October.  The decrease was largely the result of increased sales

into the secondary market as the average balance of mortgage loans held for sale decreased $404

million or 11.7%.  Loans funded for new home purchases and home refinancing increased over

September by 3.5% and 1.7%, respectively.

During October, new home equity line and loan production decreased slightly compared to recent

months, and October application volume remained significantly lower than one year ago.  The

continuing decline in home values, particularly in Florida, diminished the population of borrowers with

equity available to support lending under current underwriting guidelines.    
TREASURY MONTHLY INTERMEDIATION SNAPSHOT

Name of institution:  SunTrust Banks, Inc.

Reporting month(s):  October 2009   

Submission date: 11/30/09

Person to be contacted regarding this report:  Barry Koling

2

Credit cards represent a small percentage of SunTrust’s loan portfolio and drive a relatively immaterial

percentage of SunTrust’s total loan originations.  A third‐party service provider originates consumer card

accounts for SunTrust.   The consumer credit card portfolio is increased only as large pools of accounts

are originated and made available.  Additionally, new account originations for commercial and purchase

cards are dependent on the timing of large program implementations.  Both of these factors may cause

origination volume to fluctuate significantly from month to month.  Average loan balances and

commercial account originations remained stable from September 2009.

Other consumer loans are primarily composed of student, auto, and other consumer loans.  October

fundings for indirect auto, student, and other consumer loans decreased 25.7% from September and

4.1% from October 2008.  October student loan originations decreased from September by 55.5% due to

seasonality, and were 57.3% less than production in October 2008.  2009 production of student loans

has lagged 2008 production as a result of business decisions to modify product offerings and associated

marketing strategy.  With these changes nearly complete and as the economy shows signs of recovery,

we expect to gradually restore student loan production to former levels.  While October 2009 indirect

auto production declined 7.2% from September, it exceeded the production in October 2008 by 101.4%.

Commercial Lending

Average Commercial and Industrial loan balances decreased approximately 2.5% in October to $33.3

billion.  Most of the decline resulted from loan pay downs and reduced utilization of corporate revolving

lines of credit by large corporate enterprises as clients sought to reduce and restructure outstanding

debt.  The diversified, energy, and health care segments exhibited the greatest loan balance declines.  

Renewals of existing credit facilities and stand‐alone notes totaled $982 million in October, a decrease

of 16.1%, or $189 million, from September renewals and the third consecutive month of declining

renewals.  New commitments and new funded loans in October decreased $205 million compared to

September, but remain at a level slightly exceeding the 2009 year‐to‐date average of $914 million.

Average Commercial Real Estate loans decreased $428 million, or 1.8%, compared to the September

average.  New residential home builder loan demand was negligible and demand was lower for

commercial development projects as property values trended downward and investment activity

declined.  Commercial loans secured by owner‐occupied real estate remained fairly stable.

Small Business Lending

Most small business loans are originated in the business banking group which primarily serves clients

with annual sales of $5 million or less.  In October, the average loan balance was $5.4 billion, down 0.7%

from September.  October originations decreased 16.7% from September to $40 million, which

represented a 47.8% decrease from October 2008.
TREASURY MONTHLY INTERMEDIATION SNAPSHOT

Name of institution:  SunTrust Banks, Inc.

Reporting month(s):  October 2009   

Submission date: 11/30/09

Person to be contacted regarding this report:  Barry Koling

3

Other Intermediation Activities

Beyond lending to consumers and businesses, SunTrust participates in various additional intermediation

activities.  In October 2009, SunTrust added $3.7 billion of U.S. agency mortgage‐backed securities to

the investment portfolio.

SunTrust participated in twenty‐one debt issues in October.  The total notional value of underwritten

debt issues in which SunTrust participated was $5.8 billion.  SunTrust’s allocation of underwritten debt

included $173 million in high‐grade fixed‐income issues, $261 million in municipal debt issues, and $130

million in high‐yield fixed‐income offerings, which in the aggregate, is down almost $900 million from

September.

In October, SunTrust participated in three equity offerings with a total notional value of $466 million, of

which our allocation was $127 million.  
Name of institution: U.S. Bancorp Submission date: November 30, 2009 Person to be c

PART I. QUANTITATIVE OVERVIEW

SCHEDULE A: CONSUMER LENDING (Millions $) AUG SEP OCT Key 1. First Mortgagea. Average Loan Balance (Daily Average Total Outstanding) $38,503 $37,492 $36,155 Residential Real Estate includes Loans held for sale and all 1‐4 family secured by closed end first

liens.

b. Total Originations $4,966 $4,008 $3,794 Includes both loans originated for the balance sheet as well as loans originated for sale.

(1) Refinancings $2,875 $2,122 $2,010 Includes both loans originated for the balance sheet as well as loans originated for sale.

(2) New Home Purchases $2,091 $1,886 $1,784 Of the originations during the month, the amount that was for new home purchases.

2. Home Equity

a. Average Total Loan Balance $19,363 $19,412 $19,475 Home equity includes all 1‐4 family open end revolving and closed end junior liens.

b. Originations (New Lines+Line Increases) $460 $388 $358 Originations include the loan amount for closed end junior liens and the line amount for open‐end

revolving.

Includes both lo

refinancing cont

2009

Overall demand 

TREASURY MONTHLY INTERMEDIATION SNAPSHOT

1

c. Total Used and Unused Commitments $35,199 $35,235 $37,388 Ending balance for Total Used and Ending unfunded for Unused Commitments.

3. US Card ‐ Managed

a. Average Total Loan Balance ‐ Managed $15,041 $16,344 $16,305 Credit card includes consumer credit cards only.

b. New Account Originations (Initial Line Amt) $589 $520 $610 Originations include initial line amounts for new cards but not line increases for existing

customers.

c. Total Used and Unused Commitments $75,114 $80,492 $81,451 Ending balance for Total Used and Ending unfunded for Unused Lines.

4. Other Consumer

a. Average Total Loan Balance $28,111 $28,554 $28,446 Other consumer includes consumer installment loans, other revolving (i.e. overdraft lines and

unsecured lines of credit), consumer leases, student loans, and consumer loans secured by

securities.

b. Originations $1,209 $982 $791 Originations during the month of the above mentioned products.

Disbursements f

Credit Card bala

1
SCHEDULE B: COMMERCIAL LENDING (Millions $) AUG SEP OCT Key 

1. C & Ia. Average Total Loan and Lease Balance $50,507 $49,932 $49,222 Commercial loans include loans to depository institutions, agricultural loans to others than

farmers, commercial and industrial loans, leases, loans to finance RE not secured by RE, and all

other loans (i.e. State and Political and tax exempt.)

b. Renewal of Existing Accounts $3,842 $4,913 $4,866 Renewal of existing accounts represents the commitment balance.

c. New Commitments $2,270 $2,277 $2,038 New commitments issued during the month for either new or existing customers.

2. Commercial Real Estate

a. Average Total Loan and Lease Balance $37,044 $37,123 $37,292 Commercial RE loans include construction loans, land development loans, secured by farmland,

secured by multifamily, and other commercial RE loans.

b. Renewal of Existing Accounts $1,093 $1,347 $979 Renewal of existing accounts represents the commitment balance.

c. New Commitments $468 $614 $559 New commitments issued during the month for either new or existing customers.

4. Small Business Loans3

a. Average Total Loan Balance $12,383 $12,446 $12,542 Includes C&I, Commercial Real Estate, SBA guaranteed loans and credit cards for small businesses

already included above.

Decline in line u

New loan dema

overall construcDecrease in the 

SCHEDULE C: MEMORANDA ‐ SMALL BUSINESS LENDING (Millions $)

2

b. Originations $440 $486 $420 Newly originated loan, lease or line amounts for cards.

SCHEDULE D: OTHER INTERMEDIATION ACTIVITIES (Millions $)

1. MBS/ABS Net Purchased Volume

a. Mortgage Backed Securities $997 $56 $2,357 MBS/ABS includes net securities acquired during the quarter.

b. Asset Backed Securities $0 $0 $02. Secured Lending (Repo, PB, Margin Lending)

a. Average Total Matched Book (Repo/Reverse Repo)1 N/A N/A N/A

b. Average Total Debit Balances2 N/A N/A N/A3. Underwriting

a. Total Equity Underwriting N/A N/A N/A

b. Total Debt Underwriting N/A N/A N/A

Net purchases d

Notes:3. Memoranda: these loans are already accounted for in either consumer lending, commercial lending, or a combination of both, and include loans guaranteed by the Small Business Administration and/or any other loans that are internally classified as small business loans.

2. Applicable only for institutions offering prime brokerage or other margin lending services to clients.

1. Not applicable if matched book activity does not exceed $50 billion.

2
TREASURY MONTHLY INTERMEDIATION SNAPSHOT

Name of institution:  U.S. Bancorp

Reporting month(s):  October 2009   

Submission date:  November 30, 2009

Person to be contacted regarding this report: Anthony D. Kelley

1

PART II.  QUALITATIVE OVERVIEW

Please provide a brief overview of the intermediation activity during the month.  This discussion should

include a general commentary on the lending environment, loan demand, any changes in lending

standards and terms, and any other intermediation activity.

Company Description:  Minneapolis‐based U.S. Bancorp (“USB”), with $265 billion in assets as of

September 30, 2009, is the parent company of U.S. Bank National Association.  The Company operates

2,851 banking offices and 5,175 ATMs in 24 states, and provides a comprehensive line of banking,

brokerage, insurance, investment, mortgage, trust and payment services products to consumers,

businesses and institutions.  During the month of October 2009, U.S. Bank National Association acquired

the banking subsidiaries of FBOP Corporation with more than $18 billion in total assets.

Total Loans and Leases:  Excluding the acquired banks, during the month of October 2009, overall

demand for loans continued to decline for new commercial, commercial real estate and residential

mortgages.  Total commercial loans declined 1.4 percent when compared to September 2009, driven

primarily by a continued decline in usage of revolving lines of credit and lower overall demand for new

loans and expansion opportunities.  Total commercial real estate remained relatively flat for the month.  

Residential mortgage average balances were down, while originations of mortgages were down 5.3

percent when compared to September 2009.  Consumer loan balances decreased during the month and

there was also a decline in loan originations, driven mostly by a decrease in student loan disbursements.

C&I:  Loan demand related to business investment and growth initiatives (e.g. expansion capex and/or

acquisitions) continues to decline.  Generally, the Bank’s underwriting standards did not change during

the month, however, new transactions continue to be underwritten with financing structures and

leverage levels that consider risks that reflect the current state of market conditions.  We are benefiting

from a flight‐to‐quality, as we continue to see new lending opportunities and actively work with existing

customers on new money requests, extensions, amendments and waivers.    

CRE:  Overall new loan demand for commercial real estate remains low due to the lack of new

construction activity and the condition of the real estate markets.  Our investor and developer portfolio

has historically focused on construction lending, so new deal requests have decreased, but bridge or

short term financing is still in limited demand.   The lack of a permanent or CMBS market continues to

bring clients to the Bank to seek short term financing of completed projects, although in the last quarter,

requests even for this type of bridge financing has witness a decline.   In general, our underwriting

standards tightened somewhat to reflect the uncertainties in the market.

First Mortgage:  Overall demand for residential mortgages during the month of October was high due to

the favorable interest rate environment but has declined relative to the previous couple of months.  

Originations for the month were $3.8 billion.  Refinance activity was high during the month,

representing 53% of new originations.  Over ninety percent of the originations are approved under
TREASURY MONTHLY INTERMEDIATION SNAPSHOT

Name of institution:  U.S. Bancorp

Reporting month(s):  October 2009   

Submission date:  November 30, 2009

Person to be contacted regarding this report: Anthony D. Kelley

2

government agency programs and are underwritten based on standards for approval under those

programs.

Credit Card:  Overall demand for credit card balances was flat during the month.  Balances were

relatively flat for the month.  The Bank's portfolio is primarily a prime portfolio and lending criteria for

new accounts has remained consistent with that standard.  During September 2009, the Bank

experienced consistent application volume while new account originations compared to the prior month

decreased.

            

Consumer Loans:  Overall demand for new loans decreased in the consumer loan portfolio primarily

driven by student loan disbursements and a slight decline in auto loan originations.  Demand for home

equity decreased during the month when compared to the prior month.
Name of institution: Wells Fargo & Company Submission date: November 30, 2009 Person to be c

PART I. QUANTITATIVE OVERVIEW

SCHEDULE A: CONSUMER LENDING (Millions $) AUG SEP OCT Key 1. First Mortgagea. Average Loan Balance (Daily Average Total Outstanding) $258,620 $251,666 $248,619 Reflects average balance of closed‐end loans secured by 1‐4 family residential properties,

consistent with line 1.c.(2)(a) on Form FR Y‐9C.

b. Total Originations $28,727 $25,381 $28,001(1) Refinancings $16,010 $13,069 $15,473 Reflects portion of loan originations to refinance existing mortgage loans.

(2) New Home Purchases $12,717 $12,312 $12,528 Reflects portion of loan originations used for new home purchases.

2. Home Equity

a. Average Total Loan Balance $126,237 $125,534 $124,827 Reflects average balance of loans secured by 1‐4 family residential properties, including revolving,

open‐end loans and extended under lines of credit and closed‐end loans secured by junior liens,

consistent with lines 1.c.(1) and line 1.c.(2)(b) on Form FR Y‐9C.

b. Originations (New Lines+Line Increases) $557 $526 $529 Reflects combination of newly established lines and line increases and funding of newly originated

closed‐end loans secured by junior liens during the period.

TREASURY MONTHLY INTERMEDIATION SNAPSHOT

First Mortgage o

October, up 26% 

unclosed applica

2009

Average balance

$529 million for 

1

c. Total Used and Unused Commitments $207,732 $206,735 $205,674 Reflects aggregate funded and unfunded commitments under revolving, open‐end loans secured

by 1‐4 family residential properties and extended under lines of credit at the end of the period.

3. US Card ‐ Managed

a. Average Total Loan Balance ‐ Managed $23,510 $23,672 $23,810 Reflects average balance of domestic credit card loans consistent with line 6.a. on Form FR Y‐9C.

b. New Account Originations (Initial Line Amt) $1,358 $1,241 $1,313 Reflects newly established accounts.

c. Total Used and Unused Commitments $103,066 $101,696 $100,284 Reflects aggregate funded and unfunded loan commitments at the end of the period.

4. Other Consumer

a. Average Total Loan Balance $93,186 $94,032 $92,938 Reflects average balance of other revolving credit plans (except credit cards), other domestic

consumer loans (single payment, installment and student loans), and consumer leases, consistent

with lines 6.b, 6.c and 10.a on Form FR Y‐9C.

b. Originations $3,608 $2,798 $2,006 Reflects newly funded other consumer loans (non‐revolving) and consumer leases, and new

commitments on other credit plans (except credit cards) during the period.

Other Consume

billion in auto lo

Average loan ba

month.

1
SCHEDULE B: COMMERCIAL LENDING (Millions $) AUG SEP OCT Key 

1. C & Ia. Average Total Loan and Lease Balance $182,676 $171,988 $169,925 Reflects average balance of loans to U.S. banks and depository institutions, agricultural loans,

domestic commercial and industrial loans, all other loans, and domestic leases consistent with

lines 2.a, 3, 4.a, 9.a, 9.b and 10.b. on Form FR Y‐9C.

b. Renewal of Existing Accounts $10,966 $9,552 $9,472 Reflects renewal of loans and commitments to current customers during the period.

c. New Commitments $5,999 $4,207 $5,393 Reflects new commitments during the period.

2. Commercial Real Estate

a. Average Total Loan and Lease Balance $133,727 $133,532 $132,548 Reflects average balance of construction loans, loans secured by farmland, multifamily residential,

and nonfarm nonresidential real estate loans, consistent with lines 1.a.(1), 1.a.(2), 1.b, 1.d, 1.e.(1),

and 1.e.(2) on Form FR Y‐9C.

b. Renewal of Existing Accounts $2,537 $2,363 $2,441 Reflects renewal of loans and commitments to current customers during the period.

c. New Commitments $1,282 $1,312 $1,422 Reflects new loans and commitments during the period.

4. Small Business Loans3

a. Average Total Loan Balance $74,790 $73,781 $73,534 Reflects average balances of small business lending activity including SBA loans and credit cards

issued to small business customers included in categories above.

Commercial Rea

Commercial Rea

were $1.4 billion 

Small Business l

SCHEDULE C: MEMORANDA ‐ SMALL BUSINESS LENDING (Millions $)

October renewa

were $5.4 billion 

2

b. Originations $2,625 $2,536 $2,669 Reflects all small business lending activity including SBA loans and credit cards issued to small

business customers.

SCHEDULE D: OTHER INTERMEDIATION ACTIVITIES (Millions $)

1. MBS/ABS Net Purchased Volume

a. Mortgage Backed Securities ‐$4,740 $129 ‐$259 Reflects purchases of mortgage backed securities, net of sales activity.

b. Asset Backed Securities $852 $55 $818 Reflects purchases of asset backed securities, net of sales activity.

2. Secured Lending (Repo, PB, Margin Lending)

a. Average Total Matched Book (Repo/Reverse Repo)1 N/A N/A N/A Not applicable as matched book activity does not exceed $50 billion.

b. Average Total Debit Balances2 $3,857 $3,759 $3,756 Reflects average balance of brokerage margin loans included in line 6.c. of Form FR Y‐9C and also

reflected on Schedule A, line 4(a) above.

3. Underwriting

a. Total Equity Underwriting $482 $520 $423

b. Total Debt Underwriting $4,234 $7,979 $6,284

Average debit b

Underwriting ac

Includes sales of 

Notes:3. Memoranda: these loans are already accounted for in either consumer lending, commercial lending, or a combination of both, and include loans guaranteed by the Small Business Administration and/or any other loans that are internally classified as small business loans.

2. Applicable only for institutions offering prime brokerage or other margin lending services to clients.

1. Not applicable if matched book activity does not exceed $50 billion.

2
TREASURY MONTHLY INTERMEDIATION SNAPSHOT

Name of institution:  Wells Fargo & Company

Reporting month(s):  October 2009   

Submission date:  November 30, 2009

Person to be contacted regarding this report:  Karen B. Nelson

1

PART II.  QUALITATIVE OVERVIEW

Please provide a brief overview of the intermediation activity during the month.  This discussion should

include a general commentary on the lending environment, loan demand, any changes in lending

standards and terms, and any other intermediation activity.

Company Description  

Wells Fargo & Company is a diversified financial services company with $1.2 trillion in assets, providing

banking, insurance, investments, mortgage and consumer finance through more than 10,000 stores,

over 12,000 ATMs and the internet (wellsfargo.com) across North America and internationally.

First Mortgages and Home Equity

Total residential real estate (including first mortgage and home equity) originations were $29 billion for

October 2009.  Refinance activity accounted for approximately 55% of October first mortgage

originations.  Mortgage applications for October were $55 billion, up 26% from September, primarily

due to lower market interest rates.  The Company’s mortgage application pipeline was $64 billion at the

end of the month.  Due to the amount of the unclosed pipeline at the end of the month, solid

origination activity is expected to continue into November 2009.    

U.S. Card and Other Consumer

New credit card account originations were $1.3 billion for October 2009.  October credit card

applications were approximately 592,000, compared with 583,000 for September.  Other consumer loan

originations for October were $2 billion, including $1.2 billion for auto loans and $740 million of

education loans.   

Commercial and Commercial Real Estate

October 2009 renewals of existing commercial accounts totaled $9.5 billion and commercial new loan

commitments were $5.4 billion for the month.  Commercial real estate renewals were $2.4 billion and

new loan commitments totaled $1.4 billion for the month.  In October, small business loan originations

were $2.7 billion.

Other Intermediation Activities

Total debt and equity underwriting was $6.7 billion for October 2009.

Monthly information reported in the TARP Monthly Intermediation Snapshot does not necessarily reflect

results that may be expected for a full quarter or future periods.  For example, monthly first mortgage

origination volume is subject to volatility due to a number of factors including changes in prevailing

mortgage interest rates and the number of business days in a given monthly reporting period.  

Accordingly, Wells Fargo cautions the reader in using reported data as a predictor of future results.