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

PART I. QUANTITATIVE OVERVIEW

SCHEDULE A: CONSUMER LENDING (Millions $) JUN JUL AUG 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 $75,938 $74,366 $74,831 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) $1,384 $1,620 $1,379 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 $272,035 $260,873 $260,211 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 

decreased in Aug

August 2009 com

1
SCHEDULE B: COMMERCIAL LENDING (Millions $) JUN JUL AUG 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 $15,295 $14,922 $14,841 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):  August 2009   

Submission date:  September 30, 2009

Person to be contacted regarding this report: Thomas G Anderson

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

August. Loan originations decreased in August 2009 from July 2009 levels. Total commitments (used and

unused) are slightly lower in August 2009 compared to July 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: September 30, 2009 Person to be c

PART I. QUANTITATIVE OVERVIEW

SCHEDULE A: CONSUMER LENDING (Millions $) JUN JUL AUG Key 1. First Mortgagea. Average Loan Balance (Daily Average Total Outstanding) $247,488 $245,204 $241,964 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). Loans held for sale are also excluded.

b. Total Originations $42,020 $36,505 $30,578 Originations include both loans originated for the balance sheet as well as loans originated for

sale.

(1) Refinancings $29,087 $23,284 $18,707

(2) New Home Purchases $12,934 $13,221 $11,870

2. Home Equity

a. Average Total Loan Balance $155,567 $154,270 $153,105 Average balances represent HELOC, HELOAN and Reverse Mortgage, but do not include

discontinued real estate (sub prime)

b. Originations (New Lines+Line Increases) $1,063 $934 $814 Originations represent HELOC, HELOAN and Reverse Mortgage, but do not include discontinued

real estate (sub prime).

The decline in R

securities, and lo

Originations in t

Purchases up 87

2009

Home Equity Av

Reverse Mortga

Q2 compared to 

refinance deman

management ac

TREASURY MONTHLY INTERMEDIATION SNAPSHOT

1

c. Total Used and Unused Commitments $254,604 $251,607 $249,280 Total commitments include Reverse Mortgage.

3. US Card ‐ Managed

a. Average Total Loan Balance ‐ Managed $149,831 $147,777 $145,709 Average balances represent US Domestic Card and US Small Business Card.

b. New Account Originations (Initial Line Amt) $1,560 $1,582 $1,577 Originations represent US Domestic Card and US Small Business Card.

c. Total Used and Unused Commitments $650,532 $643,828 $637,662 Commitments represent US Domestic Card and US Small Business Card.

4. Other Consumer

a. Average Total Loan Balance $94,529 $94,449 $94,904 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 $1,296 $2,767 $1,910 Average balances and Originations exclude Foreign Consumer, Banking Center loans and Global

Wealth Investment Management non‐real estate loans and other discontinued businesses.

Overall commitm

The origination 

granted $12.9B 

1
SCHEDULE B: COMMERCIAL LENDING (Millions $) JUN JUL AUG Key 

1. C & Ia. Average Total Loan and Lease Balance $263,840 $256,548 $251,814 C&I is non‐real estate commercial loans and leases, includes domestic and foreign loans and leases

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

b. Renewal of Existing Accounts $16,466 $18,727 $12,973 Renewals represent credit facilities that expired/matured and were renewed during the period;

includes funded and unfunded exposure; includes all instrument types (loans

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

c. New Commitments $10,271 $9,868 $6,870 New commitments represent new credit facilities booked during the period; includes funded and

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

2. Commercial Real Estate

a. Average Total Loan and Lease Balance $74,907 $74,860 $74,386 Commercial Real Estate includes domestic and foreign 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.

b. Renewal of Existing Accounts $2,124 $2,324 $1,871 Renewals represent credit facilities that expired/matured and were renewed during the period;

includes funded and unfunded exposure; includes all instrument types (see 1.b above).

c. New Commitments $469 $612 $526 New commitments represent new credit facilities booked during the period; includes funded and

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

4. Small Business Loans3

a. Average Total Loan Balance $43,210 $42,669 $42,277 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

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

Loan demand in 

acquisition and 

Middle Market l

to improve befo

Overall new loa

the overall cond

financing contin

2

, , g ( p

i h f $2 $20 ) b. Originations $1,716 $1,594 $1,388 Originations include renewals as well as new loans and new lines of credit.

SCHEDULE D: OTHER INTERMEDIATION ACTIVITIES (Millions $)

1. MBS/ABS Net Purchased Volume

a. Mortgage Backed Securities $16,729 ‐$2,554 ‐$8,545 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  ‐$53 ‐$20 ‐$133 Same as 1.a above.

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

a. Average Total Matched Book (Repo/Reverse Repo)1 $120,697 $134,266 $135,730 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 $31,286 $28,902 $31,001

3. Underwriting

a. Total Equity Underwriting $6,465 $4,657 $3,564 Underwriting represents BAC commitment on deals closed in current periods.

b. Total Debt Underwriting $20,696 $15,693 $10,989 Same as 3a.

Gross MBS purc

sales were $2,68

Balance Sheet M

Average Debit b

stability in aver

The market cont

slower than wha

typical summer 

Notes: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.

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

2
TREASURY MONTHLY INTERMEDIATION SNAPSHOT

Name of institution:  Bank of America

Reporting month(s):  Jun‐Jul‐Aug 2009    

Submission date:  September 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 more than 6,100 retail banking offices, nearly 18,500 ATMs and award‐

winning online banking with 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 June 30, 2009, Bank of America had $2.3 trillion in assets, $942 billion in loans and $970 billion in

deposits.   

Economic Environment

Recent economic trends support the view that an economic recovery began in the quarter ending this

month.  While the pace of expansion remains uncertain, key trends have become somewhat more

established in recent weeks.  We estimate that the U.S. economy grew at a moderately above‐trend line

pace this quarter and that economic growth will be sustained in the final quarter of 2009.

The path of consumer spending remains the key to the early pace of the expansion, and recent retail

sales trends show some improvement.  In particular, retail sales surged in August, and while the auto

component’s strong showing was expected, sales ex‐autos and gasoline also jumped unexpectedly.  

Chain store results for September appear to have maintained the increased momentum, pointing to a

trend line gain in consumption for the quarter.  However, highlighting the remaining uncertainty, vehicle

sales have weakened considerably following the ‘cash‐for‐clunkers’ program.  Declining vehicle sales and

subdued service spending remain downside risks to the consumer outlook.

Housing improvement has continued, although initial sales gains have leveled off somewhat in recent

releases.  Another month of home price recovery was recorded in July, providing further evidence that

the housing pickup is likely to be sustained.  Still, the role of the federal first‐time homebuyer tax credit,
TREASURY MONTHLY INTERMEDIATION SNAPSHOT

Name of institution:  Bank of America

Reporting month(s):  Jun‐Jul‐Aug 2009    

Submission date:  September 30, 2009

Person to be contacted regarding this report: Neil Cotty

2

which expires in November with an extension possible, underlines the remaining uncertainty

surrounding a self‐sustaining housing recovery.  

Another solid piece of evidence of expansion has been two consecutive large monthly rises in industrial

production in July and August.  The increases have been led by rising auto production but it appears that

other industries, such as rubber and fabricated metals as well as chemicals and high tech production,

are also trending higher.  While non‐defense capital goods ex‐aircraft orders are rising, some of the

momentum of recent months appears to have diminished; ultimately, consumer spending and export

momentum are crucial to a sustained rebound in business fixed investment.  In this regard, we see the

likelihood of a vigorous second half pickup in European economies, while Asian economies continue to

rebound.   

Labor market improvement continues, in the form of a stabilizing unemployment rate and diminishing

job losses.  Nevertheless, we do not foresee employment gains until near year‐end or in early‐2010.  The

Federal Reserve has noted the pickup in the economy and continued financial market improvement;

while slowing its quantitative easing, we continue to see the Fed as likely to remain quite patient in

withdrawing its substantial monetary stimulus.

Credit Markets

In First Mortgage, purchase application volumes decreased slightly in August to 44% from 46% in July.  

Daily average applications in August were $1.9 billion, an increase of 4% from July.  August MHA (Making

Homes Affordable) application volume is approximately 13% of total refinance applications, or $2.4B.     

Home Equity fundings (including Reverse Mortgage) in August were $0.8 billion which is 13% lower

compared to July.  The fundings for Home Equity were flat while Reverse Mortgage volumes decreased

27% vs. July.  

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 closed and the lack of

permanent financing continues to put pressure on bank deals.  Loan demand in the large corporate

space was somewhat soft over the summer due to lower levels of acquisition and capital expenditure

financing.  However, the pipeline is building and improvement is expected in Q4.  Middle Market loan

demand remains soft, particularly in the Business Banking segment, and is not expected to improve

before year end.
TREASURY MONTHLY INTERMEDIATION SNAPSHOT

Name of institution:  Bank of America

Reporting month(s):  Jun‐Jul‐Aug 2009    

Submission date:  September 30, 2009

Person to be contacted regarding this report: Neil Cotty

3

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

Credit extended during August 2009, including commercial renewals of $14.8 billion, was $57.1 billion

compared to $73.3 billion in the prior month.  New credit included $30.6 billion in mortgages, $19.8

billion in commercial non‐real estate, $2.4 billion in commercial real estate, $1.6 billion in domestic and

small business card, $0.8 billion in home equity products and $1.9 billion in other consumer credit.

Excluding commercial renewals, new credit extended during the month was $42.3 billion.  

Small Business:

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

than $2.5 million) extended more than $136 million in new credit comprised of credit cards, loans and

lines of credit to more than 8,100 customers.  

Home Ownership/LMI:

In August of 2009, Bank of America funded $31 billion in first mortgages, helping more than 142,268

people either purchase a home or refinance their existing mortgage.  Approximately 39 percent were for

purchases.  Additionally, Bank of America originated $6.5 billion in mortgages made to 43,735 low and

moderate income borrowers which are down from $9.4B and 61,497 borrowers in July (excludes Merrill

Lynch).  Also, Bank of America completed 21,341 modifications in August 2009, up 14% compared to

July.  Total home retention workouts were 24,615 for the same period including Merrill Lynch,

compared to 21,945 in July.
Name of institution: The Bank of New York Mellon Corporation Submission date: September 30, 2009 

PART I. QUANTITATIVE OVERVIEW

SCHEDULE A: CONSUMER LENDING (Millions $) JUN JUL AUG Key 1. First Mortgagea. Average Loan Balance (Daily Average Total Outstanding) $5,106 $5,151 $5,179 Secured by 1st liens on closed‐end loans for 1‐4 family residential properties. Includes jum

mortgages.

b. Total Originations $113 $58 $55(1) Refinancings $89 $39 $39(2) New Home Purchases $24 $19 $16

2. Home Equity

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

credit.

b. Originations (New Lines+Line Increases) $4 $5 $3

TREASURY MONTHLY INTERMEDIATION SNAPSHOT

2009

1

c. Total Used and Unused Commitments $767 $763 $758 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 $745 $813 $796 Other consumer loans, excluding other revolving credit plans. These loans include single pa

loans and loans for household and other personal expenditures.

b. Originations $2 $0 $0

1
SCHEDULE B: COMMERCIAL LENDING (Millions $) JUN JUL AUG Key 

1. C & Ia. Average Total Loan and Lease Balance $9,197 $8,888 $8,340 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 $116 $32 $348

c. New Commitments $127 $1 $18

2. Commercial Real Estate

a. Average Total Loan and Lease Balance $3,019 $2,973 $2,942 Loans to finance commercial real estate, construction and land development. Includes real 

loans both secured and unsecured.

b. Renewal of Existing Accounts $198 $44 $20

c. New Commitments $21 $81 $0

4. SMALL BUSINESS LOANS3

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

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 $449 $764 $1,161b. 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 $4,200 $4,322 $4,277 

3. Underwriting

a. Total Equity Underwriting $79 $5 $1 Represents our portion of the transactions.

b. Total Debt Underwriting $286 $105 $435 Represents our portion of the transactions.

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): August 2009    

Submission date: September 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: September 30, 2009 Person to be c

PART I. QUANTITATIVE OVERVIEW

SCHEDULE A: CONSUMER LENDING (Millions $) JUN JUL AUG Key 1. First Mortgagea. Average Loan Balance (Daily Average Total Outstanding) $19,132 $18,866 $18,052 Consists of 1‐4 family residential loans originated primarily through BB&T's branch network.

b. Total Originations $3,143 $3,334 $2,063 Includes loans originated for sale and to be held for investment.

(1) Refinancings $2,329 $2,234 $1,173(2) New Home Purchases $814 $1,100 $890

2. Home Equity

a. Average Total Loan Balance $5,957 $5,960 $5,975 Includes only home equity lines. All are originated through BB&T's branch network.

b. Originations (New Lines+Line Increases) $85 $76 $57

TREASURY MONTHLY INTERMEDIATION SNAPSHOT

2009

1

c. Total Used and Unused Commitments $15,786 $15,736 $15,689

3. US Card ‐ Managed

a. Average Total Loan Balance ‐ Managed $2,193 $2,258 $2,332 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) $196 $245 $180

c. Total Used and Unused Commitments $9,468 $9,605 $9,658

4. Other Consumer

a. Average Total Loan Balance $17,873 $18,049 $18,074 Includes non‐revolving home equity loans, sales finance and other consumer loans.

b. Originations $401 $391 $400

1
SCHEDULE B: COMMERCIAL LENDING (Millions $) JUN JUL AUG Key 

1. C & Ia. Average Total Loan and Lease Balance $34,832 $34,935 $34,968 In addition to traditional C&I loans, balances include leveraged leases, equipment finance and

commercial insurance premium finance.

b. Renewal of Existing Accounts $543 $794 $474

c. New Commitments $1,284 $1,334 $8202. Commercial Real Estate

a. Average Total Loan and Lease Balance $19,667 $19,464 $24,506b. Renewal of Existing Accounts $1,452 $1,359 $1,319

c. New Commitments $400 $301 $2974. Small Business Loans3

a. Average Total Loan Balance $12,447 $12,175 $12,181

Includes an aver

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

2

b. Originations $1,143 $878 $798SCHEDULE D: OTHER INTERMEDIATION ACTIVITIES (Millions $)

1. MBS/ABS Net Purchased Volume

a. Mortgage Backed Securities ‐$1,479 $624 ‐$2 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 $94 $99 $107

3. Underwriting

a. Total Equity Underwriting $0 $0 $0

b. Total Debt Underwriting $494 $1,100 $543

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):  August 2009   

Submission date:  September 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 August totaled $103.9 billion, an increase of 6.2% compared

to August 2008 and up from $99.5 billion compared to July 2009. Changes in loans compared to July

2009 were led by BB&T’s acquisition of the assets of Colonial Bank which includes average loans of $5.2

billion, and specialized lending subsidiaries, which increased $140 million. Excluding loans acquired from

Colonial Bank, commercial loans and leases decreased $251 million. Mortgage loans, excluding loans

held for sale, decreased $82 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 5.25% compared to August 2008, but

average balances decreased 7.44% on an annualized basis compared to July 2009.  

Commercial real estate

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

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

up 0.03% compared to August 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):  August 2009   

Submission date:  September 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 August average direct retail portfolio

excluding loans acquired from Colonial Bank, which totals $14.6 billion, decreased 4.5% compared with

the August 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 total sales finance portfolio, which totaled $6.5 billion on average for

the month of August, was up by 3.6% compared to August 2008.  Sales Finance loans were down

marginally compared to July 2009.   

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

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

to risk at account origination. Line utilization has remained relatively consistent for both retail and

commercial clients. Average revolving credit balances totaled $1.9 billion in the month of August, an

increase of 10.8% compared to August 2008.

Mortgage

Mortgage originations totaled $1.89 billion in the month of August, down from $3.12 billion in July.

Application volume increased compared to August 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 portfolio, excluding Colonial, totaled $18.1 billion on average for the month of August 2009,

down 2.4% compared to August 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.
Name of institution: Capital One Financial Corporation Submission date: September 30, 2009 Person to be c

PART I. QUANTITATIVE OVERVIEW

SCHEDULE A: CONSUMER LENDING (Millions $) JUN JUL AUG Key 1. First Mortgagea. Average Loan Balance (Daily Average Total Outstanding) $12,678 $12,178 $11,946 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 $260 $169 $112(1) Refinancings $206 $122 $67(2) New Home Purchases $54 $47 $45

2. Home Equity

a. Average Total Loan Balance $4,521 $4,489 $4,453 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) $33 $29 $23

Capital One has 

loans. The majo

Chevy Chase. Th

monthly decline

than new home 

2009

Fluctuations in v

in credit standar

TREASURY MONTHLY INTERMEDIATION SNAPSHOT

1

c. Total Used and Unused Commitments $6,521 $6,453 $6,353

3. US Card ‐ Managed

a. Average Total Loan Balance ‐ Managed $50,237 $49,772 $49,509 US Card reflects only consumer card volumes; All numbers reflect managed portfolio

b. New Account Originations (Initial Line Amt) $422 $449 $389

c. Total Used and Unused Commitments $161,408 $159,488 $158,372

4. Other Consumer

a. Average Total Loan Balance $29,358 $28,725 $28,172 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 $506 $491 $617 For the small volume of revolving loans, the line extended is included in originations.

We’ve had to be 

nationwide orig

been more prom

to originate othe

Despite the wea

through our dire

and we continue 

introduced by th

1
SCHEDULE B: COMMERCIAL LENDING (Millions $) JUN JUL AUG Key 

1. C & Ia. Average Total Loan and Lease Balance $23,551 $23,327 $23,111 Small Business credit cards are included in C&I avg balance and new commitments numbers.

b. Renewal of Existing Accounts $210 $157 $163

c. New Commitments $421 $348 $226 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 $18,829 $18,719 $18,599b. Renewal of Existing Accounts $66 $48 $39

c. New Commitments $88 $208 $78 The New Commitments number of $238m for July reported last month included $30m of New

Commitments which had been double counted in the system on 7/31/2009. This mistake was

corrected on 8/1/2009, and the $208m in New Commitments for July reported here is correct.

4. Small Business Loans3

a. Average Total Loan Balance $11,889 $11,641 $11,381

Qualified C&I lo

financing of plan

and maintain a c

the economy, w

and renewals of 

Despite deterior

June to August 2

demand and exc

projects in all of 

starting to show 

While the Retail 

bankruptcy our 

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

2

b. Originations $202 $62 $40SCHEDULE D: OTHER INTERMEDIATION ACTIVITIES (Millions $)

1. MBS/ABS Net Purchased Volume

a. Mortgage Backed Securities $320 $180 $1,545b. Asset Backed Securities $455 ‐$148 ‐$450

2. 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):  June‐August 2009   

Submission date:  September 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

Recent economic indicators suggest a moderation of negative trends, with fewer job losses and a slight

recovery in consumer confidence and home prices.  The Bureau of Labor Statistics reported that 216,000

jobs were lost in August, a decrease of 60,000 from the July figure of 276,000.    The pace of new

Unemployment Insurance claims has also slowed, but remains stubbornly over 500,000 per week, and is

clearly at recessionary levels.  The overall unemployment rate continues to rise, and as of August was at

a 26‐year high of 9.7%.Consumer confidence is improving somewhat, but consumer spending shows no

signs of improvement, with the exception of the temporary boost in auto sales provided by the “Cash for

Clunkers” program.  Consumers continue to remain cautious on their use of credit as evidenced by the

Federal Reserve’s September 8, 2009 Consumer Credit report which detailed that total consumer credit

decreased at an annualized rate of 10.4% in July, with revolving credit decreasing at an annualized rate

of 8.0%.  Home prices appear to be stabilizing, as both the FHFA National and Case‐Shiller 20‐City indices

showed modest gains in home prices from May to June and again from June to July.  It is unclear at this

point to what extent the first‐time homebuyer tax credit of up to $8,000 may be driving the recent

stabilization.

Given the current economic conditions, Capital One expects that loan balances and demand for

additional credit cards from credit worthy consumers will continue modest declines.  Even so, Capital

One extended more than $1.2 billion in credit to new card customers during the three month period

June through August 2009.  
TREASURY MONTHLY INTERMEDIATION SNAPSHOT

Name of institution:  Capital One Financial Corporation

Reporting month(s):  June‐August 2009   

Submission date:  September 30, 2009

Person to be contacted regarding this report:  Kevin Murray

2

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

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.  Despite these

headwinds, Capital One originated more than $1.6 billion in “other consumer loans”, such as auto loans,

between June and August 2009.    

Commercial and Small Business Lending and Commercial Real Estate Lending

Commercial and Industrial lending balances declined slightly.  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 $1.5 billion in new commitments and renewals of existing

commitments in the three months through August 2009.

The size of the Commercial Real Estate portfolio was effectively flat over the past three months.   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 $527 million dollars in

new commitments and renewals of existing commitments in the three months through August 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

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

as investors risk appetite increases and asset valuations continue to rise  
TREASURY MONTHLY INTERMEDIATION SNAPSHOT

Name of institution:  Capital One Financial Corporation

Reporting month(s):  June‐August 2009   

Submission date:  September 30, 2009

Person to be contacted regarding this report:  Kevin Murray

3

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

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

Agency MBS and consumer ABS.  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 cheapening experienced 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: September 30, 2009 Person to be c

PART I. QUANTITATIVE OVERVIEW

SCHEDULE A: CONSUMER LENDING (Millions $) JUN JUL AUG 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

CIT is currently n

2009

CIT is currently n

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 $11,999 $11,871 $11,768 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 $) JUN JUL AUG Key 

1. C & Ia. Average Total Loan and Lease Balance $49,637 $49,462 $48,758 Included in the C & I asset balances is approximately $13.3 Billion of operating leases

b. Renewal of Existing Accounts $2,783 $2,378 $2,398 The Renewal of Existing Accounts is predominately from our Trade Finance business.

c. New Commitments $609 $993 $293 The bulk of our new commitments were generated from Global Vendor Finance.

2. Commercial Real Estate

a. Average Total Loan and Lease Balance $768 $746 $713 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

$ $ $

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

NOTE: July's sub

$49,462

2

a. Average Total Loan Balance $1,511 $1,497 $1,475 CIT is a leader in 

SBA Lender (bas

b. Originations $10 $8 $13

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/Ab T l D b U d ii N/A N/A N/A

CIT is currently n

CIT is currently n

CIT is currently n

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:  CIT Group Inc

Reporting month(s):  August 2009   

Submission date:  September 30, 2009

Person to be contacted regarding this report:   Peter Justini – 973‐422‐3678

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 have extreme

stagnation due to lack of capital and lack of demand.  Asset values have decreased 23% since Q1 2008, but

have since stabilized.   

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 and on asset sale gains, as continued

illiquidity in the market impacts buyers and their ability to finance used aircraft.  Commercial Air earnings

are on Plan for 2009; 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 car loadings are down nearly 20% from

2008 levels.  This is resulting in decreased utilization and intense margin pressure as CIT continues to

sacrifice rate in order to keep cars on lease.  New rail car purchases are being delayed and CIT is observing

shorter‐duration lease renewals.

Leveraged Finance (relative to the Transportation Sector)

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

is expected.

Corporate Finance / Loan Syndication

CIT has noticed that amendment activity and new defaults have both started to taper off.    We have

experienced decent new issuance and M&A activity for the first time this year.  Middle market activity is

also picking up, with approximately 20 transactions identified for Q4 execution ranging from M&A deals to

add‐on acquisitions and refinancings.    The universe of lenders for leveraged transactions remains very

limited as banks, finance companies, hedge funds and CLOs remain very selective and biased toward larger,

higher quality credits.

Capital markets for both leveraged and high yield loans remain strong, with secondary trading prices

continuing to straddle.  Present levels prior to Lehman’s bankruptcy in September 2008.  

Bank lending appetite remains focused on higher quality corporate type transactions and asset‐backed

loans.
TREASURY MONTHLY INTERMEDIATION SNAPSHOT

Name of institution:  CIT Group Inc

Reporting month(s):  August 2009   

Submission date:  September 30, 2009

Person to be contacted regarding this report:   Peter Justini – 973‐422‐3678

Trade Finance

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

continuing client base is consistent to 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 condition and VF’s limited capital has limited our

ability to increase market share.  Restructure requests continued in August with end users looking to

reduce monthly payments (either extension or debt forgiveness) in the face of difficult economic times.  

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

markets.  Traditional syndication investors (one off deals and portfolio acquisitions) are being opportunistic

on their investments and have moved to a “flight to quality”; investors are looking for:

• Investment grade deals only

• Focused on mid to large ticket transactions (no small ticket)

• Requesting stringent due diligences (requiring updated, most recent financial statements on all end

users

• Servicing only (not allowing CIT to retain the servicing of the customer)  

• Require notification to the end user customers of the sale

• Pricing/spread high

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

following:

• Canada ‐ showing signs of stabilization, due to fundamental soundness in the economy, appears to

be positioned for recovery;

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

growth in Q3 to Q4;

• Europe UK ‐ economy showing some signs of the rate of decline slowing;

• Europe Continental Europe ‐ continues to show decline (Germany);

• 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):  August 2009   

Submission date:  September 30, 2009

Person to be contacted regarding this report:   Peter Justini – 973‐422‐3678

Small Business Lending

Small business loan demand is down due to the postponement of investment in inventory and historically

low plans for capital spending.  The credit worthiness of potential small business borrowers has

deteriorated as they struggle to stay afloat during the current economic environment; this situation has

resulted in more difficult loan terms and higher loan rejection rates.  The positive outlook has faded for

consumers and small business owners over the past few months, this is primarily attributable to a slower

economic growth than what was hoped for and expected.

Consumer Lending

Non‐farm payrolls declined 216,000 in August, indicative of a recovery from Q1 2009 lows and an

improvement from the May and June figures.  The unemployment rate increased to 9.7% in August from

9.4% in July; initial unemployment claims fell by 26,000 to 550,000 in the week ended September 5th,

bringing the four‐week moving average to 570,000.   

Consumer portfolios continue to perform as expected; delinquency in our Federal Family Education Loan

Program portfolio was basically flat.  We expect seasonality in Q4 which will impact delinquencies.  The

private loan portfolio continues to season as more loans enter repayment.  Early stage delinquencies have

been trending upward as loans in our forbearance category enter repayment.   

Our Consumer Finance portfolio continues to liquidate fairly quickly as the portfolio is now very seasoned.  

Dollar losses continue to beat plan and forecast as customers continue to pay their accounts on‐time.  This

portfolio has historically been impacted by seasonality in the fourth quarter so we could experience a slight

increase in losses and delinquencies.    
Name of institution: Citigroup Submission date: September 30, 2009 Person to be c

PART I. QUANTITATIVE OVERVIEW

SCHEDULE A: CONSUMER LENDING (Millions $) JUN JUL AUG Key 1. First Mortgagea. Average Loan Balance (Daily Average Total Outstanding) $149,423 $143,530 $140,747 Consists of residential whole loans. Excludes assets classified as trading assets that are not part of

the core mortgage portfolio.

b. Total Originations $11,701 $5,344 $4,845 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 $2,145 $2,171 $1,995 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 $637 $424 $484

2. Home Equity

a. Average Total Loan Balance $65,010 $64,078 $63,246 Includes HELOC and 2nd mortgages.

b. Originations (New Lines+Line Increases) $135 $124 $175 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.

TREASURY MONTHLY INTERMEDIATION SNAPSHOT

Citi originated $

volumes reporte

mortgage loan b

Loans Held for S

decrease in loan 

conforming agen

past two month

2009

Home equity loans 

loan broker purcha

included in Citi's lo

efforts and assistin

contacted Citi rega

at risk. As in previ

helping homeowne

Program and the H

1

c. Total Used and Unused Commitments $83,436 $82,239 $81,232

3. US Card ‐ Managed

a. Average Total Loan Balance ‐ Managed $141,791 $141,744 $141,564 Balances do not include commercial card activity.

b. New Account Originations (Initial Line Amt) $7,250 $6,547 $6,359

c. Total Used and Unused Commitments $872,088 $868,455 $825,781

4. Other Consumer

a. Average Total Loan Balance $60,536 $59,252 $59,029 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 $1,077 $1,036 $1,804

Program and the H

a total value of app

Auto Loans: Origin

months and increa

our distribution ne

and amendments i

options. Student Lo

Personal Installme

down our approva

Purchase sales w

receivables were 

Total Used and U

1
SCHEDULE B: COMMERCIAL LENDING (Millions $) JUN JUL AUG Key 

1. C & Ia. Average Total Loan and Lease Balance $34,893 $32,049 $30,826 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 $2,068 $815 $736

c. New Commitments $1,380 $677 $1242. Commercial Real Estate

a. Average Total Loan and Lease Balance $25,595 $25,462 $25,105 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 $149 $1,179 $192

c. New Commitments $103 $120 $4034. Small Business Loans3

a. Average Total Loan Balance $10,225 $10,113 $9,988

Renewal volume 

months in 2009.Average balance

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

Average balance

activity in the th

2

b. Originations $169 $134 $132SCHEDULE D: OTHER INTERMEDIATION ACTIVITIES (Millions $)

1. MBS/ABS Net Purchased Volume

a. Mortgage Backed Securities $5,462 $4,270 $860 Does not include maturities and pay downs. Net Purchased Volume is reported using cost basis.

b. Asset Backed Securities $175 ‐$20 $189

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

a. Average Total Matched Book (Repo/Reverse Repo)1 $130,883 $133,116 $144,103 Average Total Matched Book (Repo/Reverse Repo) is before FIN 41 netting. Includes security

lending activity.

b. Average Total Debit Balances2 $14,773 $14,954 $16,605

3. Underwriting

a. Total Equity Underwriting $62 $37 $76 Equity Underwriting represents Citi's portion of underwritten issue.

b. Total Debt Underwriting $25,812 $16,059 $8,130 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

There were 132 

$40.2B. There w

$8.4B. Addition

increase in volum

deal and lower d

Gross purchase 

monthly volume

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 Inc.

Reporting month(s):    August 2009   

Submission date:    September 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 July 2009, unless otherwise noted.

Consumer Lending:  Citi originated $13.2 billion in loans to U.S. consumers and small business in August,

up 1 percent from July.  Moderately improving U.S. economic data contributed to sustained loan

demand, although savings rates remain high and unemployment increased to 9.7 percent, up from 9.4

percent in July.   

First mortgage originations declined to $4.8 billion, down from $5.3 billion in July.  The decline

continued to reflect a lower loan registration volume in Citi’s Institutional Core, which also impacted July

originations.  Average mortgage loan balances declined by $2.8 billion, or 1.9 percent, from the prior

month level.  July balances again reflected a decrease in loans held for sale (warehouse loans) and loans

held for investment (primarily non‐conforming loans).  

Average home equity balances totaled $63.2 billion, a 1.3 percent decrease from July.  Used and unused

commitments declined moderately to $81.2 billion, or down 1.2 percent from July.  

Citi continues to expand participation in its loss mitigation efforts and programs focused on helping

homeowners facing financial difficulty to modify their loans.  Citi modified 8,300 first mortgage and

home equity loans with a total value of $1.1 billion in August, through initiatives including the Citi

Homeownership Assistance Program and the Making Home Affordable Program.  

Sustained weakness in U.S. consumer spending activity and the previously noted increase in savings

rates continued to impact credit card lending.  Average consumer credit card balances in August

remained flat for the fifth consecutive month.  Purchase sales were also flat, as compared with July and

were down 15 percent versus the prior year period. Average receivables were also flat on a month‐to‐

month basis.  New credit lines issued to eligible borrowers totaled $6.4 billion, down 2.9 percent from

July.  Used and unused commitments declined 4.9 percent compared with the prior month, in part as

the result of a small portfolio sale.   

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

eligibility forbearance programs.  More than 172,000 card members enrolled in these programs in
TREASURY MONTHLY INTERMEDIATION SNAPSHOT

Name of institution:    Citigroup Inc.

Reporting month(s):    August 2009   

Submission date:    September 30, 2009

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

2

August.  Total balances covered by these programs were up 4 percent from July and 71 percent from

August 2008.   

Average total loan balances for other consumer lending in August declined moderately to $59.0 billion.  

Auto loan originations rose 5 percent, reflecting seasonal demand and dealer incentives, and student

loan volume increased significantly, again consistent with seasonal trends.  Total originations in other

consumer lending rose 74 percent from the prior month to $1.8 billion in August, with volume increases

in auto and student loans partly offset by a decline in personal installment loan originations as a result

of tighter lending standards.

Commercial Lending:  Continued economic weakness further constrained commercial lending activity in

August.  Total corporate loan originations declined by 48.8 percent to $9.7 billion.  Average Commercial

& Industrial (C&I) loan balances declined to $30.8 billion and were down 3.8 percent from July,

consistent with third quarter volume trends.  New C&I commitments totaled $124 million, down from

$677 million in July.   

In August, average total Commercial Real Estate (CRE) loan and lease balances declined 1.4 percent to

$25.1 billion.  Citi’s new loan commitments showed continued signs of improvement as activity more

than tripled to $402.7 million.  The $191.6 million aggregate value of existing loan renewals declined

markedly from unusually high levels in July but was nonetheless higher than all other monthly renewal

volumes in 2009.

Other Intermediation Activities:  Citi recorded net sales of $1.0 billion in mortgage‐ and asset‐backed

securities (MBS/ABS) in August.  MBS activity reflected a month‐to‐month decrease in customer demand

stemming from lower seasonal volumes in August.

Citi’s total debt underwriting decreased in August to $8.1 billion from $16.1 billion in July.  High yield

underwriting activity included 30 deals totaling $10.7 billion, compared with 30 high yield transactions

with a cumulative value of $13.4 billion in July.  Citi lead managed three of the deals in August with an

aggregate value of $602 million.  In addition, Citi participated in 132 investment grade deals with a total

value of $56.8 billion, compared with 112 deals totaling $40.2 billion in July.  Citi was lead manager for

26 of the deals in August with a total value of $7.8 billion.  Citi participated in a total of 74 equity and

linked deals, compared with 46 deals in July.  The aggregate value of the August deals was $13.1 billion,

compared with $8.4 billion in July.  Citi lead managed 12 of these deals totaling $1.0 billion.
Name of institution: COMERICA INCORPORATED Submission date: 09/30/2009 Person to be c

PART I. QUANTITATIVE OVERVIEW

SCHEDULE A: CONSUMER LENDING (Millions $) JUN JUL AUG Key 1. First Mortgagea. Average Loan Balance (Daily Average Total Outstanding) $1,778 $1,746 $1,721 Consists of 1st lien 1‐4 family residential mortgage and construction loans originated by Comerica

Bank.

b. Total Originations $48 $48 $24 Consists of loans funded during the period, including those originated for sale.

(1) Refinancings $34 $33 $14(2) New Home Purchases $14 $15 $10

2. Home Equity

a. Average Total Loan Balance $1,800 $1,799 $1,797 Consists of both fixed and revolving home equity (2nd lien) loans.

b. Originations (New Lines+Line Increases) $13 $15 $11 Excludes commitments/originations where home equity collateral is provided for multiple

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

(Schedule B).

First mortgage o

July '09/$33M Ju

August refinanc

2009

August originati

TREASURY MONTHLY INTERMEDIATION SNAPSHOT

1

c. Total Used and Unused Commitments $3,287 $3,252 $3,233

3. US Card ‐ Managed

a. Average Total Loan Balance ‐ Managed $50 $50 $51 Consists primarily of commercial bankcard loans.

b. New Account Originations (Initial Line Amt) $17 $14 $18 Includes new card loans funded during the period and new referrals to our consumer card partner.

c. Total Used and Unused Commitments $373 $386 $391

4. Other Consumer

a. Average Total Loan Balance $717 $702 $701 Consists of consumer installment loans (both secured and unsecured) and student loans.

b. Originations $57 $48 $33

August other co

Western market

New account or

June '09).

1
SCHEDULE B: COMMERCIAL LENDING (Millions $) JUN JUL AUG Key 

1. C & Ia. Average Total Loan and Lease Balance $27,850 $26,932 $26,044 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 $3,215 $3,308 $2,734 Includes renewals of and increases to lines with existing customers.

c. New Commitments $363 $281 $619 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 $14,718 $14,498 $14,403 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 $469 $492 $374 Includes renewals of and increases to lines with existing customers.

c. New Commitments $54 $16 $13 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 $3,973 $3,915 $3,872 Includes Small Business Administration loans and loans to other entities generally with annual

sales of less than $10 million at initial relationship.

August renewals d

National/Other ma

respectively). By li

($118M) and Globa

Commercial Real E

August new comm

$17M in the Midw

there were increas

respectively, partia

August commer

National/Other 

August new CRE 

August originati

Western market

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

2

b. Originations $430 $393 $261 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 ‐$1,741 ‐$753 $842 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  ‐$14 ‐$58 ‐$17 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 $3,370 $859 $3,629 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):  August 2009   

Submission date:  September 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. Loan demand remains subdued in the

prolonged recession. 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 August 2009.

Consumer Lending  

Consumer lending activity decreased in August compared to July 2009.  Application volumes and

originations decreased in the First Mortgage, Home Equity and Other Consumer lending categories.   The

largest decrease in application volumes was in First Mortgage lending which had the lowest volume

since January of 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

Divisions.  Renewals of $581 million were booked in the Mortgage Banker and Financial Services

Divisions in August 2009.
TREASURY MONTHLY INTERMEDIATION SNAPSHOT

Name of institution:  COMERICA INCORPORATED   

Reporting month(s):  August 2009   

Submission date:  September 30, 2009

Person to be contacted regarding this report: Darlene Persons

2

Commercial Lending

C&I lending renewals decreased in August after two prior months of increases.  The decreases were

concentrated primarily in the Middle Market division and also in the Small Business and Specialty

Businesses lending divisions.  The decreases were partially offset by an increase in our National Dealer

Services division.  By market, the decreases were concentrated largely in our Midwest and Texas

markets and, to a lesser degree, in our Florida market.  Our Western and International market C&I

renewals increased.  In August 2009, new C&I commitments increased to their highest level in 2009

mainly due to an increase in our Global Corporate Banking division.  All markets reflected increases, with

the largest concentrated in the Midwest.  

Commercial real estate renewals and new commitments decreased in August from July 2009.  The

decrease in renewals was largely in the Commercial Real Estate and Mortgage Banker Finance lending

divisions.

  

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 renewals and

new commitments decreased in August from July 2009.  The decrease was spread across all markets, but

primarily in our Midwest market.  Small Business CRE renewals increased and commitments remained at

the same level as July 2009.

  

Other Intermediation Activities

  

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

during July 2009 totaled $3.6 billion, providing access to liquidity for municipalities and corporate

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

PART I. QUANTITATIVE OVERVIEW

SCHEDULE A: CONSUMER LENDING (Millions $) JUN JUL AUG Key 1. First Mortgagea. Average Loan Balance (Daily Average Total Outstanding) $13,701 $12,651 $11,804 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 $2,854 $2,113 $1,518(1) Refinancings $2,350 $1,559 $961(2) New Home Purchases $504 $554 $557

2. Home Equity

a. Average Total Loan Balance $11,954 $11,915 $11,869 Average balance consists of HELOC and HELOAN accounts consistent with the classification of the

FR Y9C report.

b. Originations (New Lines+Line Increases) $140 $148 $101

Total origination

and over $550 m

2009

Fifth Third exten

TREASURY MONTHLY INTERMEDIATION SNAPSHOT

1

c. Total Used and Unused Commitments $20,104 $20,031 $19,934

3. US Card ‐ Managed

a. Average Total Loan Balance ‐ Managed $2,168 $2,203 $2,231 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) $168 $102 $107

c. Total Used and Unused Commitments $12,900 $11,576 $11,467

4. Other Consumer

a. Average Total Loan Balance $9,373 $9,352 $9,461 Average balance consists of auto and other consumer loans and leases consistent with the

classification of the FR Y9C report.

b. Originations $371 $361 $499

Other consumer 

August new cred

1
SCHEDULE B: COMMERCIAL LENDING (Millions $) JUN JUL AUG Key 

1. C & Ia. Average Total Loan and Lease Balance $28,884 $29,418 $28,706 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 $2,111 $1,924 $1,602 Includes renewed funded loans and renewed commitments.

c. New Commitments $2,434 $1,014 $780 Includes new commitments both funded and unfunded

2. Commercial Real Estate

a. Average Total Loan and Lease Balance $18,619 $18,790 $18,521 Average balance consists of real estate secured commercial loans consistent with the classification

of the FR Y9C report.

b. Renewal of Existing Accounts $764 $383 $417 Includes renewed funded loans and renewed commitments.

c. New Commitments $206 $130 $76 Includes new commitments both funded and unfunded

4. Small Business Loans3

a. Average Total Loan Balance $5,490 $5,424 $5,404 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 C&I commi

2009. Renewal 

$1.924 billion.

New CRE comm

2009. Renewal million.Small Business c

in July 2009.

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

2

b. Originations $352 $265 $245SCHEDULE D: OTHER INTERMEDIATION ACTIVITIES (Millions $)

1. MBS/ABS Net Purchased Volume

a. Mortgage Backed Securities $674 $612 $223 Consists of MBS purchases less sales for the month.

b. Asset Backed Securities $441 ‐$45 ‐$177 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 $513 $637 $1,133

MBS purchases 

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):  August 2009   

Submission date:  September 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 1.4% in August 2009 compared to July 2009.  

New CRE commitments originated in August 2009 were $76 million, which was down from $130 million

in July 2009.  Renewal levels for existing accounts increased in August 2009 to $417 million versus July

2009 at $383 million.  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 those 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 2.4% in August 2009 compared to July 2009 as

new loans were more than offset by borrowers continuing to deleverage their balance sheets.  New C&I

commitments originated in August 2009 decreased to $780 million compared to $1.014 billion in July

2009.  Renewal levels for existing accounts in August 2009 of $1.602 billion were lower than July 2009 at

$1.924 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 has remained stable in August 2009

compared to July 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 August.  Terms and covenants continue to be

somewhat tighter than usual, which has also served to constrain demand.  Credit spreads have

narrowed somewhat in recent months, including the non‐investment grade rating categories, which

could favorably impact volume if spreads continue to fall.
TREASURY MONTHLY INTERMEDIATION SNAPSHOT

Name of institution:  Fifth Third Bancorp

Reporting month(s):  August 2009   

Submission date:  September 30, 2009

Person to be contacted regarding this report:  Blane Scarberry  

2

Small Business:  Average Small Business balances decreased by approximately 0.4% in August 2009

compared to July 2009.  Small Business commitments originated in August 2009 were $245 million,

which was down from $265 million in July 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 2.0% in August 2009 compared to

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

borrowers, which offset new loan volume in the month of August.   

Consumer Sections

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

card and auto) was up compared to July 2009 due to the increase in auto demand.   

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

Total originations for the month of $1.5 billion were driven by approximately $1.0 billion of refinancing

activity and over $550 million of new home purchases.  We also extended $101 million of new home

equity lines of credit during the month.

August new credit card extensions were $107 million, a slight increase over our $102 million of

extensions in July.  Other consumer loan originations, which include new car loans, were $499 million in

August.  This was an increase of approximately $140 million from July.   

During the month of August, 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 August of 2009, Fifth Third’s portfolio of consumer loans and leases was flat relative to July 2009.  The

first mortgage portfolio primarily drove this result where the majority of originations are sold into the

secondary market.

Treasury Section

For the month of August, $223 million of Mortgage Backed Securities were purchased as part of normal

investment activity.  The decrease in Asset Backed Securities was due to activity with the commercial

paper facility sponsored by the bank. The August month end balance of commercial paper was $177

million less than the July month end balance, as we have been able to slowly place more commercial

paper with outside investors.
Name of institution: The Goldman Sachs Group, Inc. Submission date: September 30, 2009 Person to be 

PART I. QUANTITATIVE OVERVIEW

SCHEDULE A: CONSUMER LENDING (Millions $) JUN JUL AUG Key 1. First Mortgagea. Average Loan Balance (Daily Average Total Outstanding) $3,873 $3,738 $3,765 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 $31 $40 $55(1) Refinancings $17 $27 $44(2) New Home Purchases $14 $13 $11

2. Home Equity

a. Average Total Loan Balance $139 $137 $134 Amounts, reflected as principal balances, include purchased home equity lines of credit.

b. Originations (New Lines+Line Increases) $0 $0 $0

TREASURY MONTHLY INTERMEDIATION SNAPSHOT

2009

The non‐agenc

impact of loan 

retained on ba

Goldman Sachs 

lending throug

c. Total Used and Unused Commitments $21 $20 $20

3. US Card ‐ Managed

a. Average Total Loan Balance ‐ Managed $0 $0 $0

b. New Account Originations (Initial Line Amt) $0 $0 $0

c. Total Used and Unused Commitments $0 $0 $0

4. Other Consumer

a. Average Total Loan Balance $1,162 $1,204 $1,274 Amounts, reflected as principal balances, include secured mixed use consumer loans.

b. Originations $17 $72 $68

Goldman Sachs 

lending throug

Goldman Sachs 

lending throug
SCHEDULE B: COMMERCIAL LENDING (Millions $) JUN JUL AUG Key 

1. C & Ia. Average Total Loan and Lease Balance $78,216 $74,254 $74,538 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 $641 $264 $172

c. New Commitments $1,504 $728 $3252. Commercial Real Estate

a. Average Total Loan and Lease Balance $22,654 $22,020 $22,127 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 $264 $100 $0

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

a. Average Total Loan Balance $3,907 $3,814 $3,705 Amounts, reflected as principal balances, include originated and purchased senior and junior

secured and unsecured term and revolving loans to middle‐market companies.

In August, loan 

boost in prices

41.6%. In Augu

significant corp

CMBX prices ro

vintages on be

The Commerci

the top of the c

substantiated 

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

Since middle o

experienced m

b. Originations $1 $3 $5SCHEDULE D: OTHER INTERMEDIATION ACTIVITIES (Millions $)

1. MBS/ABS Net Purchased Volume

a. Mortgage Backed Securities $3,833 ‐$6,747 $1,115 Volumes reflect net settled proceeds on purchases and sales.

b. Asset Backed Securities  ‐$240 $21 $476 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 $210,416 $202,123 $206,247 Balances are presented prior to netting by counterparty under FIN 41 and FIN 39. In addition to

resale and repurchase agreements, balances include securities borrowed of $108B, $109B and

$112B for Jun, Jul and Aug respectively.

b. Average Total Debit Balances2 $76,663 $73,650 $76,288 Debit balances are reflected on a gross basis prior to any FIN 39 netting.

3. Underwriting

a. Total Equity Underwriting $9,646 $3,640 $2,505 Total equity underwriting volumes were sourced from Thomson Reuters.

b. Total Debt Underwriting $176,187 $191,908 $167,626 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.

Securities lend

equity markets 

Similarly, Marg

markets.Equity markets 

deals compare

smaller deal siz

The short term 

commercial pa

Yield Corporate 

The activity in t

participants fo

duration prote

The non‐agenc

off marginally. 

fundamental d

p )

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: 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.
TREASURY MONTHLY INTERMEDIATION SNAPSHOT

Name of institution:  The Goldman Sachs Group, Inc.

Reporting month(s):  August 2009   

Submission date:  September 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 $62 billion of supply price in August 2009 across corporate and

TLGP securities.  TLGP issuance was $6 billion while the broader credit market (comprised of corporate and

non‐government guaranteed financial institution supply) was $56 billion.  Compared to 2008 credit market

supply, August volumes, excluding 2009 TLGP issuance,  were up 58% vs. August 2008 and up 20% vs. July

2009.  TLGP volumes have slowed notably given that all of the participants in the program also have access

to unguaranteed funding markets.  The program, which was originally set to expire in June 2009, is

scheduled to end this coming October.  On the corporate side, supply continued to be modestly robust with

large benchmark deals from First Energy Solutions, BP Capital Markets, News America, YUM! Brands and

Procter & Gamble. 2009YTD supply was $525 billion in corporate volumes and $199 billion in TLGP.  This

compares to a total of $571 billion this time last year in 2008.

In the leveraged finance markets, the first half of August 2009 witnessed still‐elevated activity levels in both

the primary and secondary markets, while the second half was very quiet as many market participants were

on vacation.  The primary high yield market saw $10 billion of proceeds raised during the month, compared

to $18 billion raised in July.  All but one $150 million transaction priced during the first two weeks of the

month.  Through August month‐end, $88 billion of proceeds have been raised on the year, compared to

$38 billion of proceeds raised during the entirety of 2008.  Twenty‐eight high‐yield bond tranches priced

during August for average proceeds of $354 million, down from an average deal size of $499 million in July.  

Only one deal priced for greater than $1 billion in proceeds, compared to four $1 billion+ deals during July.  

In the largest offering of the month, Sprint Nextel priced a $1.3 billion transaction.  Secured note offerings

were again present as ten tranches of secured notes priced during the month as issuers continued to

refinance secured bank loan debt with secured bonds.

Leveraged loan market technicals continue to show strength given many bond issuances to refinance bank

facilities, as well as firmness of secondary levels.  The loan new issue market saw $500 million in

institutional new issuance over the month of August, very light compared to $2.0 billion priced in July and

$2.6 billion priced in June.  Activity was again focused on amendments, extensions and covenant relief.  The

   
TREASURY MONTHLY INTERMEDIATION SNAPSHOT

Name of institution:  The Goldman Sachs Group, Inc.

Reporting month(s):  August 2009   

Submission date:  September 2009

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

2

'amend & extend' trend continued to prove to be a viable financing alternative to proactively address large

leveraged loan maturities coming due in 2013 and 2014.

For the first part of the month, secondary cash levels remained firm, but declined during the latter half of

the month on light trading volume.  From the middle to the end of the month, the market saw high‐yield

bond prices fall ~2 points and loan bids fall ~1 point.  Although issuance volume was relatively light, the

leveraged finance 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.

In August, prices for the non‐agency market were close to unchanged from beginning to end. In the first

two weeks of August, the rally from July continued as the street continued to reach for paper across all

sectors, and prices rose 2‐3 points in Prime, Alt‐A and Subprime. In the last two weeks of August, the

momentum slowed and prices reverted as inventories felt heavy across the street due to increased selling

and account inactivity heading into the end of summer.  On the agency side, access to funding for the

unsecured market was widely available, and spreads continued to tighten amidst muted supply, Fed agency

purchases and domestic buying.

The municipal market saw a total new issue supply of $35 billion in August 2009, up 3% from the prior year.  

Tax‐exempt supply totaled $25 billion, while taxable bonds comprised $11 billion of total supply.  Build

America Bonds ("BABs") accounted for $10 billion of the taxable municipal supply, and BAB issuance totaled

$29 billion on a year‐to‐date basis at the end of August.  Municipal supply totaled $255 billion on a year‐to‐

date basis at the end of August 2009, down 15% from the prior year.  While tax‐exempt supply declined

18% over that time period, taxable supply spiked 92%.  These supply dynamics are driven by the continued

success of the BAB Program, which continues to provide a more cost effective funding alternative to

municipal issuers versus traditional tax‐exempt debt.  Large, liquid BAB offerings continue to appeal to a

broad and growing base of investors.  We have seen an increasing number of corporate, rates and emerging

markets investors participate in BAB transactions, alongside the more familiar municipal investors.  This

development is significant, as it underscores the growing pool of liquidity that municipal issuers can access

by issuing BABs.  Another important observation to note is that BAB supply has led to a decreased supply of

long‐dated tax‐exempt issuance.  As a result, traditional tax‐exempt investors who need to invest cash

positions have been willing to purchase traditional tax‐exempt bonds at lower and lower yields, providing a

benefit to issuers in the traditional municipal market.  Thus, the continued wave of BAB supply in the

municipal market has benefitted both BAB and tax‐exempt issuers.  On August 3, 2009, Goldman Sachs

served as sole manager on a $825 million BAB transaction for the North Texas Tollway Authority.  This

transaction resulted in an after‐subsidy interest rate of 4.367%, saving the North Texas Tollway Authority

approximately 200bps compared with a tax‐exempt transaction the Authority executed on the same day.   

   
TREASURY MONTHLY INTERMEDIATION SNAPSHOT

Name of institution:  The Goldman Sachs Group, Inc.

Reporting month(s):  August 2009   

Submission date:  September 2009

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

3

   

Just as in July, Healthcare issuers across the credit spectrum continued to see strong demand from

investors, with municipal bond funds providing leadership from the buy‐side.  As credit spreads and

absolute rates continued to decline in August, investors continued to show a willingness to purchase lower‐

rated and longer dated bonds as a means of adding incremental yield to their portfolios.  Secondary trading

remained generally light in the tax‐exempt space, although the high‐yield municipal sector saw generally

strong liquidity in certain subsectors such as tobacco and gas prepays.  Secondary trading activity for BABs

has proven to be consistently strong and liquid.   
Submission date: September 30, 2009 Person to be 

PART I. QUANTITATIVE OVERVIEW

SCHEDULE A: CONSUMER LENDING (Millions $) JUN JUL AUG Key 1. First Mortgagea. Average Loan Balance (Daily Average Total Outstanding) $291 $200 $195

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 $10 $11 $11b. Originations (New Lines+Line Increases) $0 $0 $0

TREASURY MONTHLY INTERMEDIATION SNAPSHOT

Name of institution: The Hartford Financial Services Group, Inc.

The Hartford's 

which it acquir

The average lo

Hartford's acq

2009

The Hartford's 

it acquired on 

average loan b

Hartford's acq

1

c. Total Used and Unused Commitments $16 $16 $16

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 $0 $0 $0b. Originations $0 $0 $0

The Hartford's 

which it acquir

Neither The Ha

US Card‐Mana

1
SCHEDULE B: COMMERCIAL LENDING (Millions $) JUN JUL AUG Key 

1. C & Ia. Average Total Loan and Lease Balance $19 $12 $12 Reflects a daily average.

b. Renewal of Existing Accounts $1 $2 $0

c. New Commitments $0 $0 $02. Commercial Real Estate

a. Average Total Loan and Lease Balance $6,386 $6,293 $6,265 Average loan balance for loans issued by Federal Trust Bank is determined using a daily average.

The average loan balance for July and August reflects the purchase accounting fair value

adjustment upon The Hartford's acquisition of Federal Trust Bank on June 24, 2009. The average

loan balance for all other commercial real estate mortgage loan investments made by The

Hartford was determined by averaging the beginning and end of period carrying amounts.

b. Renewal of Existing Accounts $1 $1 $3 The Hartford's activities in Commercial Real Estate ‐ Renewals are limited to those of Federal Trust

Bank, which it acquired on June 24, 2009. Activity through June 24, 2009 are pre‐acquisition

amounts.

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

a. Average Total Loan Balance $0 $0 $0

Given the econ

real estate are 

The Hartford's 

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

The Hartford's 

acquired on Ju

average loan b

Hartford's acq

activities inclu

The Hartford h

intermediation 

2

b. Originations $0 $0 $0SCHEDULE D: OTHER INTERMEDIATION ACTIVITIES (Millions $)

1. MBS/ABS Net Purchased Volume

a. Mortgage Backed Securities $13,144 $13,578 $13,854 Represents end‐of‐period carrying value. Includes CMBS of $8,649, CREs of $391 and RMBS of

$4,814 as of August 31, 2009.

b. Asset Backed Securities $4,649 $4,614 $4,832 Represents end‐of‐period carrying value. Includes ABS of $2,583, CLOs of $2,241 and Other CDOs

of $8 as of August 31, 2009.

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 

31, 2009.on June 24, 20

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):  August 2009   

Submission date:  September 30, 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.  However, during the second quarter and through

August, our CMBS, RMBS and ABS did experience price improvements.  Net purchases were

approximately $345 million in ABS, CMBS, and RMBS securities for the month ending August 31, 2009.
TREASURY MONTHLY INTERMEDIATION SNAPSHOT

Name of institution:  The Hartford Financial Services Group, Inc.

Reporting month(s):  August 2009   

Submission date:  September 30, 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 August 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 August 31, 2009, Federal Trust Bank held $195 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 August, The Hartford was a net purchaser of marketable securities.  During the

month, The Hartford purchased predominately investment grade corporate credits of $1.1 billion,

offset by $344 million in sale transactions, and was a net purchaser of tax‐exempt municipals of $77

million.  In the investment grade corporate credit space, repositioning included net purchases in

highly‐rated and defensively positioned sectors such as consumer non‐cyclicals and utilities, as well as

highly‐rated issuances in the banking and capital goods sectors.
2009

TREASURY MONTHLY INTERMEDIATION SNAPSHOT

Name of institution: JPMorgan Chase & Co Submission date: 9/30/09 

PART I. QUANTITATIVE OVERVIEW1,2

SCHEDULE A: CONSUMER LENDING (Millions $) JUN JUL AUG Key 

1. First Mortgage

a. Average Loan Balance (Daily Average Total Outstanding) $50,183 $49,473 $48,619 Consists of residentia

warehouse loan bala

l whole loans. Excludes assets classified as trading assets and other

nces that are not part of the core mortgage portfolio.

b. Total Originations $15,090 $14,764 $12,319 Includes both loans originated for the balance sheet as well as loans originated for sale.

(1) Refinancings $10,729 $9,087 $6,749(2) New Home Purchases $4,361 $5,676 $5,570

2. Home Equitya. Average Total Loan Balance $89,441 $88,422 $87,434 First and second lien home equity loan and line balances.

b. Originations (New Lines+Line Increases) $196 $169 $156 Home equity loans funded, new lines committed, and increases to existing lines committed.

c. Total Used and Unused Commitments $135,399 $132,651 $130,540 Outstanding balances plus undrawn home equity line commitments.

3. US Card ‐ Manageda. Average Total Loan Balance ‐ Managed $146,547 $145,346 $144,889 Credit card includes consumer and small business credit cards. Excludes international balances

b. New Account Originations (Initial Line Amt) $3,389 $3,232 $3,058 Originations include initial line amounts for new cards but not line increases for existing

customers.

c. Total Used and Unused Commitments $695,118 $687,113 $682,611 Ending balance for Total Used and ending unfunded for Unused Commitments.

4. Other Consumera. Average Total Loan Balance $79,199 $77,984 $77,888 Consists of small bus

consumer loans and

iness loans and lines; auto loans, leases, and lines; student loans; and othe

lines.

b. Originations $2,586 $2,757 $4,069 Includes small business loans funded, lines committed, increases to existing lines committed, a

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 ne

lines committed.

1
is defined by the NAICS Industry Code for Commercial Real Estate. All

into C&I.

SCHEDULE B: COMMERCIAL LENDING (Millions $) JUN JUL AUG Key 

1. C & I

a. Average Total Loan and Lease Balance $157,303 $148,988 $144,955

$14,005 $15,201 $13,105

$12,887 $9,204 $10,265

Loans and Leases con

Leases also exclude inaverage of the spot b

Renewals consist of a

Balances and new co

sists of wholesale loans, except as noted ‐ see notes 1 and 2. Loans and

terbank lending balances. Average is calculated using the simple monthly

alances. CRE reported separately in Schedule B.2.

ny increases to existing facilities and extensions of maturities. Renewals

mmitments include bridge loans and held‐for‐sale/fair value loans.

b. Renewal of Existing Accounts 

a

New Commitments include funded and unfunded exposure.

c. New Commitments 2. Commercial Real Estate

a. Average Total Loan and Lease Balance $20,874 $20,512 $20,115

$838 $372 $370

$975 $496 $459

Commercial Real EstateOther exposures roll

b. Renewal of Existing Accountsc. New CommitmentsSCHEDULE C: MEMORANDA ‐ SMALL BUSINESS LENDING (Millions $)

1. Small Business Loans3

a. Average Total Loan Balance $25,911 $25,811 $25,671 Consists of small business loans, lines of credit, and credit cards.

b. Originations $956 $879 $810 Includes small business loans funded, lines committed, increases to existing lines committed,

renewals of existing commitments, and new business credit card exposure.

SCHEDULE D: OTHER INTERMEDIATION ACTIVITIES (Millions $)1. MBS/ABS Net Purchased Volume

a. Mortgage Backed Securities $1,350 $5,026 $953 Only includes securiti

Represents gross purc

excluded.

es in the firm's investment portfolio. Balances are mostly agency MBS.

hases, net of gross sales on a trade date basis. Principal paydowns are

b. Asset Backed Securities $719 $2,572 $183 Only includes securities in the firm's investment portfolio.

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

a. Average Total Matched Book (Repo/Reverse Repo) $138,444 $136,898 $132,303 Includes Reverse Rep

liabilities

o/Sec Borrowing (after Fin41 netting) less related short bond and equity

b. Average Total Debit Balances $12,565 $12,236 $12,151 Reflects Net Debit Balances of margin loans included in customer receivables.

3. Underwriting

a. Total Equity Underwriting $14,362 $10,388 $5,551 Includes Bookrunner and Co‐manager transactions.

b. Total Debt Underwriting $52,816 $20,992 $29,195 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 accounted for in Other Consumer and US Card figures in Schedule A, and include loans guaranteed by the Small Business Administration and/or other loans that are internally classified as small business loans.

2
TREASURY MONTHLY INTERMEDIATION SNAPSHOT

Name of institution:  JPMorgan Chase & Co

Reporting month(s):  August 2009    

Submission date: September 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 August consumer balances were down slightly from July (1% decline).  Total consumer originations were also

down 6% due largely to a decline in mortgage and credit card originations.  Overall, consumer applications for

credit were up in August.

• Mortgage originations and applications have come down in August driven by refinancings.  Approval rates

also decreased from July.  Meanwhile, home equity originations decreased from July resulting from

macroeconomic factors such as home price depreciation.  Applications remained flat and approval rates

declined slightly from July.

• Credit Card balances remained relatively flat compared to July.  New account originations declined 5%

compared to July primarily due to lower approval rates.  Total commitments were down slightly from July

due to continued account closures and account charge‐offs.

• August originations for other consumer loans (small business, auto, student loans, and other consumer

loans) increased from July, driven by higher volumes in Auto Finance due to the Car Allowance Rebate

System program and higher seasonal volumes in Student Loans.  Applications increased from July.

B. Commercial Lending (C&I and CRE)

Total wholesale balances declined 3% between July and August, while total wholesale originations were down 4%

from July levels.

• Loan paydowns and sales of non‐retained loans contributed to this decline.

• 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.
TREASURY MONTHLY INTERMEDIATION SNAPSHOT

Name of institution:  JPMorgan Chase & Co

Reporting month(s):  August 2009    

Submission date: September 30, 2009

Person to be contacted regarding this report: Adam Gilbert  

2

                                                           

C. Small business lending1

Overall, small business balances were down slightly (1% decline) between July and August, while originations were

down 8%.  August originations and applications for small business loans and lines of credit decreased from July, while

new account originations for small business credit cards were down 7%.

D. Other intermediation activities

Gross MBS purchases for August were $3 billion while gross sales were $2 billion.  August ABS purchases were $0.2 billion

and consisted of Credit Card ABS, Student Loan ABS, and CLOs.  Meanwhile, the Matched Book business declined 4% from

June to August.  The decline was driven by narrowing interest rate spreads and greater market competitiveness.

Equity underwriting volume declined from July, with the decline attributable to smaller individual deal volumes, as overall

transaction flow and activity remains robust.  Debt underwriting activity continues to be strong as well, particularly in

High Yield issuance as market yields tightened.

E. Overall lending summary

JPMC extended close to $44 billion in new loans and lines to retail and wholesale clients during August, including:

• Close to $20 billion in consumer and small business originations1

.  Consumer originations include credit cards,

mortgages, home equity loans and lines, student loans and auto loans, During August, JPMC extended over 1.8

million new loans and lines to consumers and small businesses1, 2

.

• Over $24 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.

JPMC also purchased $1 billion of mortgage‐backed and asset‐backed securities during the month.

JPMorgan Chase has continued to be a leader in responsibly helping troubled borrowers.  Among the largest servicers,

JPMorgan Chase has the highest percentage of trial modifications initiated of its delinquent loans into the

Administration's HAMP Program.  Through August, Chase offered about 234,000 trial modifications, approximately

144,000 of which are HAMP modifications.  From 2007 to the present, the firm has helped to prevent 745,000

foreclosures in total, including the 234,000 trial modifications.

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 ~588,000 credit card line increases extended during the time period
Name of institution: KeyCorp Submission date: 9/30/09 Person to be c

PART I. QUANTITATIVE OVERVIEW

SCHEDULE A: CONSUMER LENDING (Millions $) JUN JUL AUG Key 1. First Mortgagea. Average Loan Balance (Daily Average Total Outstanding) $3,346 $3,362 $3,308 First Mortgage includes loans secured by 1‐4 family residential properties including home equity

loans secured by first liens.

b. Total Originations $225 $206 $137 Total Originations include both portfolio and held‐for‐sale loan originations.

(1) Refinancings $164 $138 $76(2) New Home Purchases $61 $68 $61

2. Home Equity

a. Average Total Loan Balance $8,378 $8,377 $8,383 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) $106 $99 $78

TREASURY MONTHLY INTERMEDIATION SNAPSHOT

The decrease in 

refinancings. Ap

2009

Application volu

level. Approval 

1

c. Total Used and Unused Commitments $16,569 $16,551 $16,508

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 $45 $43 $42

4. Other Consumer

a. Average Total Loan Balance $7,962 $7,618 $7,577 Other Consumer includes all other non‐revolving consumer loans.

b. Originations $24 $21 $131

The significant in

loan volume, wh

KeyCorp does no

through a bank a

1
SCHEDULE B: COMMERCIAL LENDING (Millions $) JUN JUL AUG Key 

1. C & Ia. Average Total Loan and Lease Balance $32,096 $31,394 $30,196 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 $1,625 $1,440 $1,115 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 $830 $658 $516 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 $18,451 $18,170 $17,731 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 $266 $641 $613 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 $94 $49 $61 New commitments include outstanding balances and unused commitments. Commitment

amounts exclude standby letters of credit.

4. Small Business Loans3

a. Average Total Loan Balance $3,534 $3,481 $3,446 Small Business includes loans guaranteed by the Small Business Administration ("SBA") and other

loans internally classified as small business loans.

Commercial Rea

in CRE continue 

available in the C

remainder of the 

Mae, Freddie Ma

Small Business lo

in August from J

for new loan app

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

August new com

demand. Augus

and Leasing (alm

typical renewal s

2

b. Originations $40 $42 $42SCHEDULE D: OTHER INTERMEDIATION ACTIVITIES (Millions $)

1. MBS/ABS Net Purchased Volume

a. Mortgage Backed Securities $4,421 $831 $3,546 August MBS net purchased volume includes $3.7 billion in purchases and $161 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 $73 $32 $21

b. Total Debt Underwriting $188 $137 $361

KeyCorp was the co

August 2008 total o

of pipeline deals fo

KeyCorp. Twelve d

grade and four wer

The purchase of 

supports KeyCor

pp 

remain consisten

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:  KeyCorp

Reporting month(s):  August 2009        

Submission date: 9/30/09

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 $98 billion at June 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.  Its reach extends across the U.S. and to approximately 40 countries.

General

August credit demand in the C & I and Commercial Real Estate (“CRE”) segments was below the

respective August 2008 levels, consistent with the trend experienced through the previous seven

months of this year.  New loan activity for residential mortgages was above the August 2008 level and

stable compared to that experienced in July 2009.  Federally‐guaranteed student loan activity increased

significantly from July to August due to the seasonality of the new school year.

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

Branch‐based application volume for August was at its lowest level in the current economic cycle.  In

August, applications for home equity loans decreased more rapidly than those for non‐real estate

secured consumer loans.  Residential mortgage applications were flat for the month, while applications

for federally‐guaranteed student loans were up significantly due to seasonality.   The demand for both

residential mortgage and federally‐guaranteed student loans continued to exceed that experienced

during 2008.

There were no material changes in KeyCorp’s underwriting standards in August.  The emphasis has

remained on pricing appropriately for current credit and liquidity risks.

C & I

The demand for new C&I loans was well below the year‐ago level.  The volume of new commitments in

August was down from July in the Middle Market, Leasing and the Institutional Bank portfolios.  Loan

demand in the Institutional Bank remains soft.  Overall, August renewals of $1.1 billion were down from

the July level, as the typical renewal season begins to wind down.
TREASURY MONTHLY INTERMEDIATION SNAPSHOT

Name of institution:  KeyCorp

Reporting month(s):  August 2009        

Submission date: 9/30/09

Person to be contacted regarding this report:  Robert L. Morris   

2

Small Business new loan approvals declined 20% from July to $37.3 million, due primarily to continued

weak loan demand.  However, within the Small Business portfolio, KeyCorp’s approvals for new SBA

loans increased 50% from the July level.  This marked the second‐highest month for such approvals in

2009.  Small Business loan demand has been historically slow in August.   August renewals in the amount

of $181 million remain in line with both the 2009 year‐to‐date monthly average and the level of

renewals experienced in August 2008.  

Commercial Real Estate

There was no change in loan demand trends in the CRE segment during August.  The CRE market outlook

continues to be weak.   More than 70% of the $61 million in new originations in August is attributable to

KeyCorp’s Middle Market portfolio.

During August, KeyCorp continued to extend and modify existing credits, given the lack of liquidity and

refinancing options available in the CRE market.  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 August, the size of the investment portfolio was increased with an

additional $3.7 billion investment in CMOs issued by government‐sponsored entities or GNMA.
Name of institution: Marshall & Ilsley Corporation Submission date: 9/30/09 Person to be c

PART I. QUANTITATIVE OVERVIEW

SCHEDULE A: CONSUMER LENDING (Millions $) JUN JUL AUG Key 1. First Mortgagea. Average Loan Balance (Daily Average Total Outstanding) $7,803 $7,541 $7,295 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 $368 $226 $194 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 $235 $131 $111(2) New Home Purchases $132 $95 $83

2. Home Equity

a. Average Total Loan Balance $2,749 $2,750 $2,749 Includes Home Equity Lines only.

b. Originations (New Lines+Line Increases) $78 $71 $68

Mortgage origin

application volu

money loan app

providing borrow

2009

Home Equity ou

TREASURY MONTHLY INTERMEDIATION SNAPSHOT

1

c. Total Used and Unused Commitments $5,063 $5,030 $5,024

3. US Card ‐ Managed

a. Average Total Loan Balance ‐ Managed $270 $273 $274 Includes Consumer Card only.

b. New Account Originations (Initial Line Amt) $7 $7 $6

c. Total Used and Unused Commitments $1,233 $1,243 $1,255

4. Other Consumer

a. Average Total Loan Balance $1,911 $2,020 $2,108 Includes consumer PRA & LOCs. Subcategories include Auto Leases, Dealer Finance, Personal,

Securities Loans, and Student Loans.

b. Originations $100 $74 $88 Includes Additional Notes and Refinances to existing customers and notes to new customers.

Average Loan Ba

securitized loan

balances, the Go

Average balance

New Account vo

driven by an infl

1
SCHEDULE B: COMMERCIAL LENDING (Millions $) JUN JUL AUG Key 

1. C & Ia. Average Total Loan and Lease Balance $14,711 $14,488 $14,126 Includes A/R and Inventory, Dealer Commercial, Agricultural, IRB's and Muni, and Commercial

Leases.

b. Renewal of Existing Accounts $408 $261 $109 Renewals include renewal of existing accounts where new money is requested, terms are

modified, or new master line is established.

c. New Commitments $76 $102 $85 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 $21,003 $20,688 $20,526 Includes Business Purpose 1‐4 and Construction, Development, & Vacant Land (Commercial and

Residential).

b. Renewal of Existing Accounts $166 $48 $57 Renewals include renewal of existing accounts where new money is requested, terms are

modified, or new master line is established.

c. New Commitments $86 $107 $71 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 $3,549 $3,520 $3,473 Includes SBA‐guaranteed loans and Business Loans & Commitments < $1 million to customers with

Revenue < $1 million. Excludes Letters of Credit.

Average balance

58% from July to 

capital expendit

activity, all of w

Average balance

consistent with 

The dynamics fr

last month due t

conditions.

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

2

b. Originations $38 $31 $23SCHEDULE D: OTHER INTERMEDIATION ACTIVITIES (Millions $)

1. MBS/ABS Net Purchased Volume

a. Mortgage Backed Securities $0 $361 $116b. 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

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):  August 2009   

Submission date:  9/30/2009

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 193 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 $340 million of new credit to

new and existing customers in August for a total of over $4.8 billion since the infusion of CPP capital in

mid‐November (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 C&I, borrowing demand continues to be slow across all of our markets.  Economic uncertainty has

continued to result in borrowers reducing capital expenditures, paying down debt, delaying investment

in infrastructure (plants and equipment) and lower merger and acquisition activity, all of which influence

customer borrowing needs.  

In Commercial Real Estate, Construction and Development concentrations continue to decline in‐line

with our corporate goal of reducing credit exposure in this sector.  Commercial Real Estate balances

decreased in August reflecting less overall demand for CRE loan products.  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 decreased 10% from July to August.  Mortgage application volume

continued to decrease, with August application volume down 10% from July, driven by decreases in both

refinance and purchase money loan applications.  The decrease in refinance activity is due to mortgage

rates staying above their low point in April and May which provides borrowers less incentive to

refinance their existing mortgages.  Dealer Finance continued to increase month‐over‐month in August

due to reduced competition from the automaker’s captive finance companies and acquisition of

previously securitized loans from an existing multi‐seller conduit.
Name of institution: Morgan Stanley Submission date: September 30, 2009 Person to be contacted about this r

PART I. QUANTITATIVE OVERVIEW

SCHEDULE A: CONSUMER LENDING (Millions $) JUN JUL AUG Key 1. First Mortgagea. Average Loan Balance (Daily Average Total Outstanding) $3,758 $3,721 $3,658 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 $68 $23 $12(1) Refinancings $63 $19 $8

(2) New Home Purchases $5 $4 $5

2. Home Equity

a. Average Total Loan Balance $2,382 $2,350 $2,320 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

c. Total Used and Unused Commitments $0 $0 $0

Morgan Stanley originated approximate

securities based lending program. The p

refinance or purchase residential or com

in new residential loans.

2009

TREASURY MONTHLY INTERMEDIATION SNAPSHOT

1

3. 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 $7,436 $7,927 $8,211 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 $412 $532 $302

Customers have increased the level of lo

Morgan Stanley is largely a wholesale in

credit card business.

1
SCHEDULE B: COMMERCIAL LENDING (Millions $) Key 

1. C & Ia. Average Total Loan and Lease Balance $67,297 $71,041 $65,306 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 $1,019 $312 $343 This amount included in total (line a).

c. New Commitments $3,190 $2,251 $1,300 This amount included in total (line a).

2. Commercial Real Estate

a. Average Total Loan and Lease Balance $10,018 $9,836 $9,566 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 $3,523 $3,903 $4,060 Small Business Lending; amounts also included on Schedule A.4.; separate reporting on this

schedule beginning with 04/30/2009 report.

b. Originations $179 $241 $138

Morgan Stanley approved approximate

Commercial Real Estate lending remain

fundamentals, such as retail earnings, n

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

2

SCHEDULE D: OTHER INTERMEDIATION ACTIVITIES (Millions $)

1. MBS/ABS Net Purchased Volume

a. Mortgage Backed Securities $9,136 ‐$1,730 $8,545 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 $467 ‐$222 $788 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 $147,756 $169,113 $165,291 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 $30,299 $33,708 $36,027 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 $5,771 $7,175 $3,822 Amounts are Fair Values.

Source: Thomson Tables

b. Total Debt Underwriting $14,172 $5,268 $7,541 Amounts are Fair Values.

Source: Thomson Tables

Notes:

In August, Morgan Stanley acted as the 

underwriting participation was $3.8Bn, 

Stanley's overall market share was 8.5% 

Morgan Stanley participated in approxi

increased from 5.8% in the previous mo

1 Not applicable if matched book activity does not exceed $50 billionAmounts are in par commitments / notional at month‐end except where noted

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): August 2009

Submission date:    September 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:

• In the month of August, equity markets continued the rally from the March lows, rising 3.6% for the

period. Economic data was mostly positive as the ISM manufacturing index rose for a seventh

straight month, capacity utilization edged higher, and the unemployment rate dropped from 9.5% to

9.4%. In addition, the Case‐Shiller Home Price Index rose for a second month in a row. Despite

mostly positive data, retail sales unexpectedly fell .1% during the month, indicating that the

consumer spending could hinder any recovery.

• Credit markets continued to perform well, although returns were not as compelling as the prior four

months. Investment grade credit outperformed U.S. Treasury securities by 79bps for the month, and

high yield outperformed risk‐free rates by 48bps. The investment grade cash index now trades

around 228bps above U.S. Treasury securities, the tightest level since February 2008. New issue

markets were active in August, particularly considering the slow seasonal time of year, with new

investment grade issuances totaling $48Bn compared to $27Bn during August 2008.

DEBT UNDERWRITING:

• In August, $83.9Bn of U.S. dollar denominated investment grade, high yield and government

guaranteed debt was issued, including self‐issuance, down approximately $6.7Bn from the previous

month. Government guaranteed issuance was down 19% from the prior month as issuers took

advantage of strong market conditions to issue non‐guaranteed debt. Morgan Stanley’s debt

underwriting volume was $7.5Bn for investment grade, high yield and government guaranteed

issuers with a market share of 9.0%, up from 5.8% in July.

• Total investment grade issuance, excluding self‐issuance, was $50.9Bn in August. Morgan Stanley led

a $600MM debt IPO for Blackstone Holdings Finance and also executed three emerging market

transactions (CCL, Alestra & Petronas) totaling over $5Bn. In addition, Morgan Stanley managed its

second transaction of the year for both Dow Chemical Company and BP Capital Markets.  Morgan

Stanley also continued to demonstrate its strong presence in the taxable municipal market, leading

transactions for several key issuers. Morgan Stanley secured its first British government guaranteed

issue, a $4Bn transaction for Nationwide Building Supply.

• Total issuance in the high yield bond market was $9.7Bn in August, down 43% from the previous

month while the number of new issues declined 13% from July.
TREASURY MONTHLY INTERMEDIATION SNAPSHOT

Name of institution: Morgan Stanley

Reporting month(s): August 2009

Submission date:    September 30, 2009

Person to be contacted regarding this report: Fred Gonfiantini

2

EQUITY UNDERWRITING:

• In August, Morgan Stanley’s equity underwriting participation was $3.8Bn and its market share was

8.5%, down from 10.4% in July.

• Morgan Stanley acted as book runner on 17 transactions, including the two largest transactions

during August, helping to raise nearly $11Bn on behalf of issuers.  Morgan Stanley acted as book

runner on the $5.2Bn secondary offering for UBS AG, the largest transaction of the month, and a

$786MM secondary offering for Bunge Ltd, the largest consumer products offering in 2009.

• In general, global equity issuance volume for August was 35% below July levels.  Secondary offerings

continue to dominate the new issue market, representing 76% of total issuances.

COMMERCIAL LENDING C&I:

• Multi‐year bank lending has continued to advance at healthy levels with three‐year tenors as the

standard in today’s market. In addition, 364‐day tenors included in some loan syndication

transactions to maximize capacity and reduce costs. Activity in the High Yield bank loan market has

continued its robust pace following continued strength in the High Yield bond market over the

quarter.  Meanwhile, event lending activity has shown some modest signs of improvement.  For the

month of August, there were 20 commitment requests totaling over $2Bn, of which 19 were

approved.  Morgan Stanley continued to deploy its capital to a broad group of companies ‐ 

approximately 74% of the relationship requests were new lending relationships.

SMALL BUSINESS LOANS:

• Morgan Stanley has approximately $4.1Bn in credit 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 August, Morgan Stanley originated approximately $302MM of new credit facilities to clients

providing capital to refinance or purchase residential or commercial real estate.  In addition, Morgan

Stanley closed $12MM in new residential loans.
Name of institution: Northern Trust Corporation Submission date: September 30, 2009 Person to be contacted a

PART I. QUANTITATIVE OVERVIEW

SCHEDULE A: CONSUMER LENDING (Millions $) JUN JUL AUG Key 1. First Mortgagea. Average Loan Balance (Daily Average Total Outstanding) $8,186 $8,158 $8,166 All information is domestic and estimated based on a combination of internal and regulatory

reporting data.

b. Total Originations $123 $103 $93(1) Refinancings $71 $48 $32(2) New Home Purchases $52 $55 $61 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 $2,740 $2,767 $2,806 All information is domestic and estimated based on a combination of internal and regulatory

reporting data.

b. Originations (New Lines+Line Increases) $100 $72 $47 All information is domestic and estimated based on internal reporting data. Renewals are

included.

c. Total Used and Unused Commitments $4,978 $5,004 $5,058 All information is domestic and estimated based on a combination of internal and regulatory

i d

Residential real estate loans 

Average residential real est

refinancings decreased 33.3

2009

Average Home Equity balan

down 34.7% in August.

Approximately 50% of total 

TREASURY MONTHLY INTERMEDIATION SNAPSHOT

1

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 Consumera. Average Total Loan Balance $2,271 $2,301 $2,253 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 $112 $116 $66 All information is domestic and estimated based on internal reporting data. Renewals are

included.

Average total loan balances 

during the same period. Ot

(i.e., personal lines of credit

Northern Trust does not hav

1
SCHEDULE B: COMMERCIAL LENDING (Millions $) JUN JUL AUG Key 

1. C & Ia. Average Total Loan and Lease Balance $11,155 $10,744 $10,566 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 $910 $913 $562 All information is domestic and estimated based on internal reporting data.

c. New Commitments $326 $240 $404 All information is domestic and estimated based on internal reporting data.

2. Commercial Real Estate

a. Average Total Loan and Lease Balance $3,207 $3,282 $3,316 All information is domestic and estimated based on a combination of internal and regulatory

reporting data.

b. Renewal of Existing Accounts $24 $13 $9 All information is domestic and estimated based on internal reporting data.

c. New Commitments $72 $83 $33 All information is domestic and estimated based on internal reporting data.

4. Small Business Loans3

a. Average Total Loan Balance $392 $399 $394 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.

b. Originations $34 $33 $34 Initial request for data as of 4/30/09. All information is domestic and estimated based on

Average total loan and lease 

work down inventory levels 

new commitments increase

Commercial real estate loan

commercial real estate loan 

decreased by 30.8% in Augu

Small business average loan 

prior month.

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

2

g $ $ $ q / /

internal reporting data.

SCHEDULE D: OTHER INTERMEDIATION ACTIVITIES (Millions $)

1. MBS/ABS Net Purchased Volume

a. Mortgage Backed Securities $0 $0 $132 All information is domestic and estimated based on internal reporting data.

b. Asset Backed Securities $0 $0 $55 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/Ab. Total Debt Underwriting $38 $76 $0 All information is domestic and estimated based on internal reporting data.

Notes:

Secured lending is not separ

Northern Trust does not eng

Timing of securities purchas

market condition. Northern 

Sponsored Enterprises and 

Program.

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.

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

2
TREASURY MONTHLY INTERMEDIATION SNAPSHOT

Name of institution:  Northern Trust Corporation

Reporting month(s):  August 2009   

Submission date:  September 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 June 30, 2009, our loans and leases totaled $29 billion, assets under

custody totaled $3.2 trillion, and assets under management totaled $559 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 16.4% in August 2009 when compared to July

2009.  This is partially 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.   

In August 2009 Northern Trust decreased interest rates or modified residential mortgages totaling $27.4

million.  As part of this Program, a committee reviews all home mortgages with payment problems in
TREASURY MONTHLY INTERMEDIATION SNAPSHOT

Name of institution:  Northern Trust Corporation

Reporting month(s):  August 2009   

Submission date:  September 30, 2009

Person to be contacted regarding this report: Patricia K. Bartler

2

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 $23.5 billion at 6/30/09.   

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 begun to see 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: 09/30/2009 Person t

PART I. QUANTITATIVE OVERVIEW

2009

SCHEDULE A: CONSUMER LENDING (Millions $) JUN JUL AUG Key 1. First Mortgagea. Average Loan Balance (Daily Average Total Outstanding) $21,511 $21,162 $20,834

b. Total Originations $2,021 $1,550 $1,138 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.

(1) Refinancings $1,370 $938 $647(2) New Home Purchases $651 $612 $491

2. Home Equity

a. Average Total Loan Balance $36,665 $36,597 $36,526b. Originations (New Lines+Line Increases) $517 $466 $403

TREASURY MONTHLY INTERMEDIATION SNAPSHOT

1

c. Total Used and Unused Commitments $56,792 $57,056 $56,714

3. US Card ‐ Managed

a. Average Total Loan Balance ‐ Managed $6,613 $6,655 $6,691 • Line 3 represents credit cards and other revolving products exposure.

• Total outstandings for Credit card alone were flat from a July balance of $4,016 million to $4,103

million in August.

b. New Account Originations (Initial Line Amt) $309 $248 $205

c. Total Used and Unused Commitments $26,290 $26,295 $26,125

4. Other Consumer

a. Average Total Loan Balance $11,576 $11,678 $11,960b. Originations* $240 $258 $734*Note: Education Loans for legacy National City were under‐reported in line b and have now been restated for June and July.

1
SCHEDULE B: COMMERCIAL LENDING (Millions $) JUN JUL AUG Key 

1. C & Ia. Average Total Loan and Lease Balance $66,686 $64,720 $63,413b. Renewal of Existing Accounts $5,227 $4,804 $3,451

c. New Commitments $2,394 $2,355 $1,9872. Commercial Real Estate

a. Average Total Loan and Lease Balance $25,227 $24,845 $24,614b. Renewal of Existing Accounts $763 $668 $605

c. New Commitments $284 $173 $2354. Small Business Loans3

a. Average Total Loan Balance $12,346 $12,230 $12,130 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 $389 $291 $306SCHEDULE D: OTHER INTERMEDIATION ACTIVITIES (Millions $)

1. MBS/ABS Net Purchased Volume

a. Mortgage Backed Securities $2,062 ‐$373 $2,167 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 $27 $141 $602. 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 $71 $24 $28

b. Total Debt Underwriting $676 $508 $256

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): August 2009   

Person to be contacted regarding this report: Shaheen Dil

Submission date: September 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 August 2009 PNC approved new and renewed commercial

loans of approximately $4.0 billion, up from $3.7 billion in July 2009. Overall, PNC originated

approximately $8.8 billion in loans and commitments to lend in August, down from $10.5 billion in July,

primarily due to decrease in renewal of existing C&I accounts.

First Mortgage

New first mortgage applications in August were $1.3 billion, down 8% from July, with the drop

primarily in purchase money mortgage activity.    Rising unemployment continues to hamper new home

sales, and thus the purchase money mortgage market.  Refinance application activity was flat as

compared to July. August origination volume of $1.1 billion was down 13% from July, following

application volume trends.  Conventional loans originated for sale to Fannie Mae or Freddie Mac were

59% of the total, with FHA‐insured and VA‐guaranteed loans accounting for the remaining 41%.  Fixed

rate mortgages represented 95% of all originations.

Execution of the Home Affordable Refinance Program (HARP) and the Home Affordable Modification

Program (HAMP) continues.  During August, 283 HARP refinances totaling $58.3 million were funded.  

HAMP solicitation efforts continue.  53,475 HAMP workout packages have been mailed to troubled

borrowers, including active foreclosure accounts.  5,381 HAMP trial modification offers have been

extended to borrowers and 1,115 borrowers have started HAMP trial modifications.

Consumer Lending

PNC continues to focus on having complete credit conversations with consumers to understand what

challenges and opportunities exist for home equity and other consumer lending offers.  PNC continues

to invest in pre‐approved consumer lending direct mail campaigns to existing customers and prospects

and outbound calling campaigns across home equity, auto, and student lending.

In home equity, branches and call centers are provided leads to proactively contact customers and

prospects.  PNC actively promotes a first lien Home Equity installment loan product with low closing cost

1
TREASURY MONTHLY INTERMEDIATION SNAPSHOT

Name of institution: PNC Financial Services Group, Inc.

Reporting month(s): August 2009   

Person to be contacted regarding this report: Shaheen Dil

Submission date: September 30, 2009

to help consumers refinance existing mortgage or home equity debt.  Despite these efforts, Home

Equity application production fell in August in comparison to July due to normal seasonal declines.  In

turn, booked units and origination volumes were correspondingly lower in August.   

For other consumer loans, our origination growth for August was driven by education lending (both

federal and private student loans) and auto lending businesses.  In education lending, originations

increased 10% over August 2008 as the new academic year started.  PNC’s “second look” PLUS (parent

loan for undergraduate students) program has successfully counseled individual parents who are denied

credit based on the federal underwriting criteria.  PNC has helped over 500 applicants this year with

curing their credit issues, reversing the credit decision, and funding their education needs.

In auto lending,  August dollar originations increased 3% over July driven by our pre‐approval direct mail

offers and Cash for Clunkers Program (which has also positively impacted consumer traffic through our

indirect lending channel and provided an opportunity for PNC to grow lending relationships with auto

dealers).  The number of booked auto loans increased by 6% over July.

Within our consumer lending and distressed assets portfolios, we continue to be prudently aggressive

with respect to opportunities to keep families in their homes. The home equity Home Affordable

Modification Program became operational on September 1, 2009 for both PNC and NCC portfolios.  We

initiated a proactive solicitation program to contact our most distressed borrowers to make them aware

of this federal program.  Solicitations will continue until all distressed borrowers have been offered

participation in the program.  In addition we are currently reviewing the details of the Second Lien

Program that Treasury finalized in August.

Beginning in September, we launched a new addition to our Loss Mitigation solution set to address the

needs of distressed borrowers who do not qualify for HAMP as a result of failing gross eligibility

requirements of HAMP.  This valuable enhancement addresses the needs of large Unpaid Principal

Balance (UPB) borrowers and troubled borrowers who own non‐primary real estate.  In addition, we are

exploring additional changes which include an aggressive principal forgiveness loan modification.  We

are continuing to make progress on developing a product that addresses the needs of condominium

borrowers who would not otherwise qualify for a conforming condominium loan.  We continue to

proactively reach out to troubled borrowers with loss mitigation information and are working to

increase our customer contact frequency to ensure a meaningful dialogue with borrowers before and

after they may find themselves in trouble.

US Credit Cards only (excluding other revolving exposure)

Total outstandings for the Credit card portfolio were flat from July to August.  New account volume was

down 9% from July level.  Total accounts booked in August were 19.9 thousand of which 16.2 thousand

were new consumer accounts and 3.7 thousand were business card accounts.  The average credit line

granted was $8,551 for consumer cards and $8,583 for business cards.  Total credit line granted for the

new accounts was lower in August at $170 million vs. $205 million in July.  Total credit available was

$24.1 billion for August and this was consistent with July.  The branch network continues to be the main

driver of new account activity for the Credit Card portfolio.

2
TREASURY MONTHLY INTERMEDIATION SNAPSHOT

Name of institution: PNC Financial Services Group, Inc.

Reporting month(s): August 2009   

Person to be contacted regarding this report: Shaheen Dil

Submission date: September 30, 2009

We have several programs in place to help the distressed credit card customer. Most of these programs

lower interest rates and stop late fees and over limit fees. The Customer Assistance Program Small

Business Line of Credit Programs are various concessions we have made to small business owners who

are either no longer in business or on the verge of being out of business. We also have Customer

Assistance Programs for individual credit card holders.

Business Banking (in Retail line of business)

Balances in Business Banking (customers with annual revenues less than $10 million) declined 1% in

August 2009 from July 2009, primarily due to workout of problem assets and slower new loan

production than in past years.  During August, PNC Business Banking extended over $300 million in

credit commitments to small businesses including SBA loans.  Application volume was lower than in

August 2008 due to slower demand.   

C&I   

PNC remains keenly focused on providing credit to qualified C&I borrowers. During the first half of 2009

we led 75 syndicated financing transactions, totaling more than $3.6 billion, for middle market

companies across the country.

In National City’s legacy markets our primary objective for 2009 is client retention while proceeding

through integration and conversion processes. In PNC’s legacy markets we remain highly focused on

generating new sales 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. Also, after a slight lull in August, issuers

are again issuing longer term debt and equity that is being used in part to repay shorter term bank debt.  

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.  In addition, the recent disruption in the asset‐based market has caused

many companies to seek alternate financing, creating an even greater stream of opportunities for PNC.  

The combination of these things has contributed to a record pipeline of new loan opportunities for this

time of the year.  The percentage of credit approvals has increased as applicants’ performance has been

stabilizing, thus allowing more confidence in underwriting the requested loan facilities.  The growth

provided by new lending opportunities has been offset by a drop in loan balances associated with lower

inventory and receivables levels, both of which are related to lower sales levels and the depreciated

value of many commodity assets.

We should also note that PNC’s loan growth may be impacted in 2009 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

3
TREASURY MONTHLY INTERMEDIATION SNAPSHOT

Name of institution: PNC Financial Services Group, Inc.

Reporting month(s): August 2009   

Person to be contacted regarding this report: Shaheen Dil

Submission date: September 30, 2009

4

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, suggests 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. 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 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: September 30, 2009 Person to be contacted about this r

PART I. QUANTITATIVE OVERVIEW

SCHEDULE A: CONSUMER LENDING (Millions $) JUN JUL AUG Key 1. First Mortgagea. Average Loan Balance (Daily Average Total Outstanding) $16,841 $16,794 $16,409 First and second residential 1‐4 family mortgages, including residential mortgages held for

sale.

b. Total Originations $1,100 $704 $575 Loan originations designated for the secondary market and those to be held in portfolio on

Regions' balance sheet.

(1) Refinancings $803 $419 $296 Total originations designated as refinance status.

(2) New Home Purchases $297 $285 $278 Total originations designated as new purchase status.

2. Home Equity

a. Average Total Loan Balance $15,856 $15,770 $15,711 Average balances include Home Equity loans and HELOCs.

b. Originations (New Lines+Line Increases) $129 $109 $102 New Home Equity loans, lines and increases.

c. Total Used and Unused Commitments $26,758 $26,535 $26,362 Total portfolio of Home Equity loans and funded and unfunded HELOCs. Funded portion

included in average balance above.

The mortgage division originated mortg

decreased 18% from the prior month. N

and refinancing activity reflected a decr

decrease of 2.9% from July. August orig

refinanced under the Home Affordable 

2009

Overall Home Equity balances declined $58.7 m

while the HELOC balances declined $19 million

Equity production declined 6.8% in August to $

production levels, down 78%, overall when com

lower approval rates.The decline in used and unused commitments 

value on the property securing the HELOC has 

adverse financial change on the consumer's ac

TREASURY MONTHLY INTERMEDIATION SNAPSHOT

1

3. US Card ‐ Manageda. 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 $4,475 $4,374 $4,246 Includes consumer direct, indirect, other revolving (i.e., overdraft lines) and student loans

held for sale.

b. Originations $114 $104 $222 Includes direct and student lending origination activity.

August loan balances declined when co

lending portfolio.

Overall, August originations increased w

the student lending portfolio (i.e., fall te

1
SCHEDULE B: COMMERCIAL LENDING (Millions $) JUN JUL AUG Key 

1. C & Ia. Average Total Loan and Lease Balance $23,056 $23,078 $22,287 Average outstanding funded balances (net of deferred fees and costs) for non‐real estate,

commercial related loans and leases.

b. Renewal of Existing Accounts $1,774 $2,087 $1,514 Renewal of existing funded and unfunded commitments for non‐real estate, commercial

related loans based upon posting date of renewal. Also includes letters of credit.

c. New Commitments $1,159 $954 $787 New funded and unfunded commitments for non‐real estate, commercial related loans

based upon posting date of the commitment. Also includes letters of credit and leases.

Variable Rate Demand Note (VRDN) fundings are excluded from new commitment activity.

2. Commercial Real Estate

a. Average Total Loan and Lease Balance $37,194 $37,222 $36,994 Average outstanding funded balances (net of deferred fees and costs) for commercial related

loans secured by real estate. Also includes Commercial loans held for sale.

b. Renewal of Existing Accounts $2,187 $1,658 $1,586 Renewal of existing funded and unfunded commitments for commercial related loans

secured by real estate based upon posting date of renewal. Also includes letters of credit.

c. New Commitments $446 $411 $365 New funded and unfunded commitments for commercial related loans secured by real estate

based upon posting date of the commitment. Also includes letters of credit. Variable Rate

Demand Note (VRDN) fundings are excluded from new commitment activity.

4. Small Business Loans3

a. Average Total Loan Balance $14,644 $14,478 $14,314 Average outstanding funded balances (net of deferred fees and costs) for commercial and commercial real estate

related loans made to small business clients, which we generally define as clients with revenues up to $10 million. Theses

balances are reflected as components of C&I , Commercial Real Estate and First Mortgage reported above.

b. Originations $702 $617 $573 New and renewed production of funded and unfunded commitments made to small business

clients, which we generally define as clients with revenues up to $10 million. These

In August, loan demand remained weak 

positions. Outstanding loan balances d

Rate Demand Notes. Additionally, line 

number of new and renewed C&I comm

August).In August, new loan demand remained 

with existing clients versus active pursu

clients to renew their loans as they mat

loan restructuring as appropriate. Rene

and construction portfolio includes loan 

current credit quality of the sponsor, th

Small businesses are experiencing lowe

volumes and are reluctant to make capi

seeing small businesses build cash in th

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

2

clients, which we generally define as clients with revenues up to $10 million. These

originations 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 $982 $613 $1,911 Net purchase volume as captured in bond accounting system. Reflects settlement date.

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 $709 $761 $712 Reflects average margin receivables as recorded on the general ledger.

3. Underwriting

a. Total Equity Underwriting $125 $25 $65 Total equity underwriting activity. Represents Regions' participation percentage.

b. Total Debt Underwriting $1,004 $566 $1,271 Debt issuances delivered monthly. Represents Regions' participation percentage.

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

The equity syndicate calendar picked up after t

day marketed transactions. The Company's br

and 7 in August.We expect this uptick trend to continue throug

push in December. Gross debt issuance size fo

respectively.

Consists of 30 year Agency Fixed‐Rate M

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

2
TREASURY MONTHLY INTERMEDIATION SNAPSHOT

Name of institution: Regions Financial Corporation

Reporting month(s):    August, 2009        

Submission date:  September 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 June 30, 2009, Regions had total consolidated assets of approximately

$143 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 August, new and renewed commitments were down 14% to $5.2 billion and average balances were

down $1.6 billion from July to $95.6 billion.

Commercial and Industrial new commitments and renewals of existing accounts declined 24% versus

July to $2.3 billion.  Outstanding loan balances decreased in August primarily due to the remarketing of

Variable Rate Demand Notes.  Commercial Real Estate new commitments and renewals of existing

accounts were down 6% to $1.9 billion.

Residential mortgage production originated loans totaling $575 million in August, which is an 18%

decline from July reflecting higher average interest rates, lower July applications and fewer August

closings.   Home Equity production declined 6.8% in August to $102 million as is the typical seasonal

pattern.  Other Consumer Lending August production increased when compared to July as a result of

seasonality in the student lending portfolio (i.e. fall term).   

III. Consumer Lending

A. Mortgage Lending

The mortgage division originated mortgage loans totaling $575 million in August of 2009.  Overall

production decreased 18% from the prior month.  New purchase originations decreased 2.3% from prior

month, and refinancing activity decreased 29.3% primarily due to average interest rates remaining

higher during the month of July which drove down July applications and August closings, respectively.  

Application activity remained relatively flat with a slight decrease of 2.9% from the month of July.
TREASURY MONTHLY INTERMEDIATION SNAPSHOT

Name of institution: Regions Financial Corporation

Reporting month(s):    August, 2009        

Submission date:  September 30, 2009

Person to be contacted regarding this report:  Irene M. Esteves, Chief Financial Officer

2

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. August originations included approximately $35 million related to

196 loans refinanced under the Home Affordable Refinance Program.

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 613

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 August, Regions completed 82

modifications totaling $12 million in unpaid principal.  Regions currently services approximately $20.1

billion of Fannie Mae and Freddie Mac mortgages.

B. Home Equity Lending

Home Equity production declined 6.8% in August to $102 million as is the typical seasonal pattern.

Home Equity Lending production continues to decline, down 78% compared to same period prior year,

as a result of fewer applications and lower approval rates. 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 down approval rates.

Overall Home Equity balances declined $58.7 million or 0.4% in August to $15.7 billion.  The HELOAN

portfolio declined $39.7 million, 2.0%, while HELOC balances declined $19 million, 0.14%, reflecting

portfolio paydowns in excess of new production.

C. Other Consumer Lending

Overall, Other Consumer Lending balances decreased 2.9% in August compared to July primarily as a

result of continued run‐off in the indirect lending portfolio.  August production increased when

compared to July as a result of seasonality in the student lending portfolio (i.e. fall term).   

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.  

The Customer Assistance Program’s overall goal to keep customers in their homes remains the same.
TREASURY MONTHLY INTERMEDIATION SNAPSHOT

Name of institution: Regions Financial Corporation

Reporting month(s):    August, 2009        

Submission date:  September 30, 2009

Person to be contacted regarding this report:  Irene M. Esteves, Chief Financial Officer

3

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

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. (1.63% for Regions vs. 4.30% nationally in

the second quarter of 2009.)  Since inception of the program, Regions has restructured more than $1.4

billion in mortgages, including $870 million Aug YTD 2009. Regions has assisted more than 19,500

homeowners with solutions.

IV. Commercial Lending

A.  Commercial and Industrial Lending

Loan demand remained soft in August, as the stagnant economy continues to drive more conservative

leverage positions. Renewed and new commitments both decreased for the month. Outstanding loan

balances decreased in August 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 continue to drop, down 77 bps in August versus July.

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

August 2009 at 62% of the prior year level, and are down 3% in August versus July.

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.  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 risk of declining property prices

and stressed cash flows.  The August decrease in renewed commitments reflects typical month to month
TREASURY MONTHLY INTERMEDIATION SNAPSHOT

Name of institution: Regions Financial Corporation

Reporting month(s):    August, 2009        

Submission date:  September 30, 2009

Person to be contacted regarding this report:  Irene M. Esteves, Chief Financial Officer

4

fluctuation in renewal volumes, as most commercial real estate loans are project based and renewal

activity is driven by the life cycle of each project.  

New loan demand remained low in August. Developers are reluctant to begin new projects or purchase

existing projects under current economic conditions.  Average loan balances were down less than 1% in

August from July 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.

VI. Equity and Debt Activities at Morgan Keegan

The equity syndicate calendar picked up a bit of steam after the July holiday.  The activity came from

overnight transactions or one‐day marketed transactions.  There was IPO activity in August as well as

several fully marketed secondary offerings.  Industry groups varied with financials, REITS, utilities,

technology and healthcare leading the way respectively.  Morgan Keegan’s debt underwriting had the

expected seasonal fall uptick in issuance for August.  The expectation is for this trend to continue

through October, tapering off in November before an expected year end push in December.     
Name of institution: STATE STREET CORPORATION Submission date: September 18, 2009 Person to be c

PART I. QUANTITATIVE OVERVIEW

SCHEDULE A: CONSUMER LENDING (Millions $) JUN JUL AUG 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 $) JUN JUL AUG Key 

1. C & Ia. Average Total Loan and Lease Balance $9,927 $9,671 $9,184 Composed of fund facilities, overdraft lines of credit, leases and lines of credit to insurance,

corporate and other borrowers.

b. Renewal of Existing Accounts $976 $838 $692 Primarily composed of renewals of customer credit facilities net of reductions, including

expirations.

c. New Commitments $263 $140 $75 Primarily composed of credit facility commitments to fund customers.

2. Commercial Real Estate

a. Average Total Loan and Lease Balance $658 $658 $594 Composed of loans acquired from certain customers pursuant to indemnified repurchase

agreements.

b. Renewal of Existing Accounts $3 $2 $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

the four third‐pa

conduits. Renew

are typically the 

months ended A

million for June 

new credit facili

2

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

1. MBS/ABS Net Purchased Volume

a. Mortgage Backed Securities ‐$1,812 $4,209 $1,692 Amount reported represents gross purchases net of gross sales, on a settlement date basis,

reduced by principal pay‐downs.

b. Asset Backed Securities  ‐$311 ‐$648 $316 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

backed and asse

backed and asse

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):  August 2009

Submission date:  September 18, 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.

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
TREASURY MONTHLY INTERMEDIATION SNAPSHOT

Name of institution: STATE STREET CORPORATION

Reporting month(s):  August 2009

Submission date:  September 18, 2009

Person to be contacted regarding this report: Stefan Gavell

2

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, $3.877 billion of new credit facilities to

our fund customers has been approved and closed, along with an additional $318 million to insurance

and corporate customers. As of August 31, 2009, an additional $250 million of credit facilities to fund

customers have received internal credit approval and await completion of documentation.

Equally important are $9.579 billion of gross credit facility renewals that have been approved since

October 1, 2008, of which $9.235 billion were to fund customers and $344 million were to insurance and

corporate customers. These credit facilities provide consistent credit support to our existing customer

base. Of these renewals, $885 million were approved in August 2009, of which $812 million were to

fund customers and $73 million were to insurance and corporate 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 have recently trended higher resulting from the consolidation onto our

balance sheet of the assets and liabilities of the four third‐party‐owned, special‐purpose, multi‐seller

asset‐backed commercial paper programs that we administer, referred to as conduits. 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 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 August

2009, were $3.817 billion, down from their peak of $19.6 billion during October 2008. As noted above,

since October 1, 2008, we have approved approximately $4.127 billion in new or increased credit

facilities to our fund customers, exceeding our target of $2.0 billion.
TREASURY MONTHLY INTERMEDIATION SNAPSHOT

Name of institution: STATE STREET CORPORATION

Reporting month(s):  August 2009

Submission date:  September 18, 2009

Person to be contacted regarding this report: Stefan Gavell

3

During the reporting period of June 1, 2009 through August 31, 2009, we purchased approximately

$7.838 billion of mortgage‐ and asset‐backed securities, including $3.112 billion in August 2009.

Maturities, run‐off and sales of such securities totaled approximately $4.392 billion, including $1.104

billion in August 2009. The net purchases of mortgage‐ and asset‐backed securities in July and August

were the first net purchases since January 2009. 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 $1.089 billion, including $182 million in August 2009.
Name of institution: SunTrust Banks, Inc. Submission date: 9/30/09 Person to be c

PART I. QUANTITATIVE OVERVIEW

SCHEDULE A: CONSUMER LENDING (Millions $) JUN JUL AUG Key 1. First Mortgagea. Average Loan Balance (Daily Average Total Outstanding) $35,942 $35,560 $34,035 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 $6,255 $5,162 $3,636 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 $4,438 $3,369 $2,055(2) New Home Purchases $1,817 $1,793 $1,581

2. Home Equity

a. Average Total Loan Balance $18,338 $18,214 $18,089 Average balance, originations, and commitments include both Home Equity Lines and Home Equity

Loans.

b. Originations (New Lines+Line Increases) $147 $142 $121

Originations dec

primarily by a de

due to pay down

2009

Average balance

declined 15% fro

TREASURY MONTHLY INTERMEDIATION SNAPSHOT

1

c. Total Used and Unused Commitments $34,767 $34,491 $34,223

3. US Card ‐ Managed

a. Average Total Loan Balance ‐ Managed $991 $991 $992 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) $16 $10 $5 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 $3,647 $3,610 $3,586 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 $12,154 $12,053 $12,051 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 $401 $376 $576

Average balance

due to the seaso

New account or

implementation

Commitments g

provider natura

party service pro

1
SCHEDULE B: COMMERCIAL LENDING (Millions $) JUN JUL AUG Key 

1. C & Ia. Average Total Loan and Lease Balance $38,715 $36,931 $35,449 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 $1,462 $2,075 $1,266 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 $881 $1,160 $656 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 $24,576 $24,423 $23,980 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 $377 $226 $283 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 $306 $226 $132 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 $5,547 $5,507 $5,471 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.

Average loan ba

credit and term 

begun in June. N

compared to Jul

Commercial rea

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

2

of $5 million or less.

b. Originations $91 $46 $45SCHEDULE D: OTHER INTERMEDIATION ACTIVITIES (Millions $)

1. MBS/ABS Net Purchased Volume

a. Mortgage Backed Securities $1,012 $5 $688 The numbers represent net purchase volume within the reporting period. These securities are

reported in SunTrust's available‐for‐sale and trading portfolios.

b. Asset Backed Securities $0 $108 $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 $583 $11 $107 Includes total dollars allocated to STRH in equity underwriting transactions that settled within the

reporting period.

b. Total Debt Underwriting $770 $549 $806 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

July.SunTrust purcha

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):  August 2009   

Submission date: 9/30/09

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 $176.7 billion on June 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 1,692 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.   

Total average loans in August, including loans held for sale, totaled $124.6 billion and remained almost

evenly split between the consumer portfolio and the commercial portfolio.  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 August, total new loan originations, commitments, and renewals extended to all

borrowers totaled $6.7 billion, a decrease of 28.8% from the July total.  Elevated unemployment rates

and continued depressed property valuations in most SunTrust markets constrained the ability of certain

borrowers to service debt obligations.  The recessionary economic conditions also resulted in limited

opportunities for extending new credit, particularly for consumers.  The contraction in overall business

demand prompted wholesale borrowers to apply excess capital and liquidity to aggressively reduce their

outstanding debt.

Consumer Lending

Mortgage originations totaled $3.6 billion during August, representing a 29.6% decrease from July, but a

46.1% increase over August 2008.  Relative to July, average mortgage balances decreased $1.5 billion or

4.3% during August.  The decrease was largely the result of increased sales into the secondary market as

the average balance of mortgage loans held for sale decreased $1.4 billion or 24.4%.  Loans funded for

new home purchases decreased 11.8% and refinance closings also declined 39.0% from July levels.  

During August, new home equity line and loan production decreased slightly compared to recent

months, and August 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):  August 2009   

Submission date: 9/30/09

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 remained

stable but, commercial account originations decreased $5 million in August 2009 compared to July.

Other consumer loans are primarily composed of student, auto, and other consumer loans.  August

fundings for indirect auto, student, and other consumer loans increased 53.2% from July and 8.4% from

August 2008.  August student loan originations tripled compared to July 2009, driven by seasonal

demand.  The number and balance of indirect auto loan originations in August topped all monthly totals

in all of 2008 and 2009 to date, clearly reflecting the positive impact of the government and

manufacturer incentive programs.

Commercial Lending

Average Commercial and Industrial loan balances decreased approximately 4% in August to $35.4

billion.  Most of the decline occurred in large corporate revolving lines of credit as clients sought to

reduce outstanding debt.  $656 million in new commitments and funded loans during August

represented a decrease of 43.4% from July.  Renewals of existing credit facilities totaling $1.3 billion

represented a decrease of 39.0%, or $809 million, from July renewals.   

Average Commercial Real Estate loans decreased fractionally to $24 billion compared to the July

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

The majority of small business loans are originated in the business banking group which primarily serves

clients with annual sales of $5 million or less.  In August, the average loan balance was $5.5 billion, down

0.7% from July.  August originations declined 2.0% from July to $45 million, representing a 51.5%

decrease from August 2008, as loan demand from qualified businesses continued to be weak.
TREASURY MONTHLY INTERMEDIATION SNAPSHOT

Name of institution:  SunTrust Banks, Inc.

Reporting month(s):  August 2009   

Submission date: 9/30/09

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 August 2009, SunTrust added $688 million of mortgage backed securities to the investment

portfolio.

Debt underwritings increased in August to $806 million versus $549 million in July.  August underwriting

included $419 million in high‐grade fixed‐income issues, $337 million in municipal debt issues, and $50

million in high‐yield fixed‐income offerings.

The equity underwriting market increased in August.  SunTrust’s share of a priced transaction was $107

million versus $11 million in July.  
Name of institution: U.S. Bancorp Submission date: September 30, 2009 Person to be c

PART I. QUANTITATIVE OVERVIEW

SCHEDULE A: CONSUMER LENDING (Millions $) JUN JUL AUG Key 1. First Mortgagea. Average Loan Balance (Daily Average Total Outstanding) $37,141 $38,228 $38,503 Residential Real Estate includes Loans held for sale and all 1‐4 family secured by closed end first

liens. Average balances include the acquisition of Downey and PFF. 90% of originations are held

for sale.

b. Total Originations $6,304 $6,703 $4,966 Includes both loans originated for the balance sheet as well as loans originated for sale.

(1) Refinancings $4,533 $4,394 $2,875 Includes both loans originated for the balance sheet as well as loans originated for sale.

(2) New Home Purchases $1,770 $2,309 $2,091 Of the originations during the month, the amount that was for new home purchases.

2. Home Equity

a. Average Total Loan Balance $19,341 $19,331 $19,363 Home equity includes all 1‐4 family open end revolving and closed end junior liens.

b. Originations (New Lines+Line Increases) $549 $491 $460 Originations include the loan amount for closed end junior liens and the line amount for open‐end

revolving.

Includes both lo

refinancing cont

of homes, as a p

2009

Overall demand 

TREASURY MONTHLY INTERMEDIATION SNAPSHOT

1

c. Total Used and Unused Commitments $35,094 $35,113 $35,199 Ending balance for Total Used and Ending unfunded for Unused Commitments.

3. US Card ‐ Managed

a. Average Total Loan Balance ‐ Managed $14,702 $14,808 $15,041 Credit card includes consumer credit cards only.

b. New Account Originations (Initial Line Amt) $763 $648 $589 Originations include initial line amounts for new cards but not line increases for existing

customers.

c. Total Used and Unused Commitments $73,246 $73,905 $75,114 Ending balance for Total Used and Ending unfunded for Unused Lines.

4. Other Consumer

a. Average Total Loan Balance $28,514 $27,946 $28,111 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 $909 $817 $1,209 Originations during the month of the above mentioned products.

Demand for aut

Credit Card bala

1
SCHEDULE B: COMMERCIAL LENDING (Millions $) JUN JUL AUG Key 

1. C & Ia. Average Total Loan and Lease Balance $51,970 $51,005 $50,507 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 $4,949 $4,995 $3,842 Renewal of existing accounts represents the commitment balance.

c. New Commitments $2,974 $2,213 $2,270 New commitments issued during the month for either new or existing customers.

2. Commercial Real Estate

a. Average Total Loan and Lease Balance $37,430 $37,219 $37,044 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 $1,549 $1,424 $1,093 Renewal of existing accounts represents the commitment balance.

c. New Commitments $382 $574 $468 New commitments issued during the month for either new or existing customers.

4. Small Business Loans3

a. Average Total Loan Balance $12,259 $12,345 $12,383 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 construcSome decline in 

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

2

b. Originations $682 $511 $440 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 ‐$33 $1,144 $997 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):  August 2009   

Submission date:  September 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 $266 billion in assets, is the parent

company of U.S. Bank National Association.  The Company operates 2,850 banking offices and 5,173

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.

Total Loans and Leases:  During the month of August 2009, overall demand for loans continued to

decline for new commercial, commercial real estate and residential mortgages.  Total commercial loans

declined 0.9 percent when compared to July 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 up slightly, while originations of mortgages were down 25 percent when compared to July 2009.  

Consumer loan balances increased during the month, as well as loan originations for the month, driven

mostly by an increase in auto loans and 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.    

New application volume for small‐ticket commercial loans declined.    Approval rates also declined

slightly, although not as much as incoming applications.   Credit quality of new originations remains

strong with metrics such as average bureau scores at improved levels compared to prior year, and

concentrations in known high‐risk segments at reduced levels compared to a year ago.

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 August was high due to

the favorable interest rate environment but has declined relative to the previous couple of months.  
TREASURY MONTHLY INTERMEDIATION SNAPSHOT

Name of institution:  U.S. Bancorp

Reporting month(s):  August 2009   

Submission date:  September 30, 2009

Person to be contacted regarding this report: Anthony D. Kelley

2

Originations for the month were $5.0 billion.  Refinance activity was high during the month,

representing 57% of new originations, but continued to decline relative to previous months representing

more financing of home purchases.  Over ninety percent of the originations are approved under

government agency programs and are underwritten based on standards for approval under those

programs.  For mortgage loans retained in the Bank’s portfolio, underwriting guidelines have not

changed; however, loan‐to‐value standards continue to reflect current real estate market conditions and

continued declines in home prices.

Credit Card:  Overall demand for credit card balances was flat during the month, with an increase in

average loans of $233 million.  The Bank's portfolio is primarily a prime portfolio and lending criteria for

new accounts has remained consistent with that standard.  During August 2009, the Bank experienced

consistent application volume with new account originations compared to prior month decreased.

            

Consumer Loans:  Overall demand for new loans increased in the consumer loan portfolio primarily

driven by student loan disbursements and auto loans.  Demand for home equity decreased during the

month when compared to the prior month.  Over the last twelve months, changes in underwriting

standards have been made to respond to the changing market conditions for new and used auto values,

changing residual values for auto leases, home price values and increasing risk in revolving credit.
Name of institution: Wells Fargo & Company Submission date: September 29, 2009 Person to be c

PART I. QUANTITATIVE OVERVIEW

SCHEDULE A: CONSUMER LENDING (Millions $) JUN JUL AUG Key 1. First Mortgagea. Average Loan Balance (Daily Average Total Outstanding) $264,986 $261,770 $258,620 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 $45,074 $40,369 $28,727(1) Refinancings $33,499 $27,913 $16,010 Reflects portion of loan originations to refinance existing mortgage loans.

(2) New Home Purchases $11,575 $12,456 $12,717 Reflects portion of loan originations used for new home purchases.

2. Home Equity

a. Average Total Loan Balance $128,170 $127,142 $126,237 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) $613 $607 $557 Reflects combination of newly established lines and line increases and funding of newly originated

closed‐end loans secured by junior liens during the period.

First Mortgage o

lower level of re

application pipe

2009

Average balance

2009. Home Equ

TREASURY MONTHLY INTERMEDIATION SNAPSHOT

1

c. Total Used and Unused Commitments $225,700 $223,626 $222,163 Reflects aggregate funded and unfunded loan commitments at the end of the period.

3. US Card ‐ Managed

a. Average Total Loan Balance ‐ Managed $23,105 $23,305 $23,510 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) $1,225 $1,341 $1,358 Reflects newly established accounts.

c. Total Used and Unused Commitments $105,722 $105,008 $103,066 Reflects aggregate funded and unfunded loan commitments at the end of the period.

4. Other Consumer

a. Average Total Loan Balance $84,726 $89,393 $93,186 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 $1,931 $2,193 $3,608 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

education loans

seasonal deman

U.S. Card origina

month, up slight

1
SCHEDULE B: COMMERCIAL LENDING (Millions $) JUN JUL AUG Key 

1. C & Ia. Average Total Loan and Lease Balance $177,943 $186,412 $182,676 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 $13,407 $12,397 $10,966 Reflects renewal of loans and commitments to current customers during the period.

c. New Commitments $7,328 $6,637 $5,999 Reflects new commitments during the period.

2. Commercial Real Estate

a. Average Total Loan and Lease Balance $136,208 $134,172 $133,727 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 $2,505 $2,518 $2,537 Reflects renewal of loans and commitments to current customers during the period.

c. New Commitments $1,332 $956 $1,282 Reflects new loans and commitments during the period.

4. Small Business Loans3

a. Average Total Loan Balance $77,257 $76,838 $74,790 Reflects average balances of small business lending activity including SBA loans and credit cards

issued to small business customers included in categories above.

Commercial new 

Renewals of exis

new commitme

industrial and wLoan origination

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

2

b. Originations $2,894 $2,609 $2,625 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 $26,638 ‐$16,384 ‐$4,740 Reflects purchases of mortgage backed securities, net of sales activity.

b. Asset Backed Securities $1,800 $183 $852 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 $3,829 $3,837 $3,857 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 $831 $201 $482

b. Total Debt Underwriting $6,765 $5,634 $4,234

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):  August 2009   

Submission date:  September 29, 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 $1.3 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 mortgage originations were $29 billion for August 2009.  Approximately 55%

of August originations were the result of refinance activity.  First Mortgage applications were $38 billion

for the month.  The Company’s mortgage application pipeline was $63 billion at the end of August.    

U.S. Card and Other Consumer

New credit card account originations were $1.4 billion for August 2009.  August credit card applications

were approximately 632,000, compared with 633,000 in July.  Other consumer loan originations were

$3.6 billion for August, including $1.8 billion for auto loans and $1.8 billion of education loans.   

Education lending activity rose in August, reflecting increased demand at the beginning of the new

semester.    

Commercial and Commercial Real Estate

Commercial new loan commitments were $6 billion for August.  Renewals of existing commercial

accounts totaled $11 billion for the month.  August commercial real estate lending activity included $2.5

billion of renewals of existing accounts and $1.3 billion in new loan commitments.  Small business loan

originations were $2.6 billion for the month.

  

Other Intermediation Activities

Total debt and equity underwriting was $4.7 billion for August 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.