Name of institution: American Express Company Submission date: August 31, 2009 Person to be c

PART I. QUANTITATIVE OVERVIEW

SCHEDULE A: CONSUMER LENDING (Millions $) MAY JUN JUL 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 $76,147 $75,938 $74,366 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) $979 $1,384 $1,620 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 $279,343 $272,035 $260,873 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

reflecting the se

declined in July. 

unused) are low

we are taking to 

*Total used and 

inactive cancella

1
SCHEDULE B: COMMERCIAL LENDING (Millions $) MAY JUN JUL 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 $15,563 $15,295 $14,922 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): July 2009  

Submission date:  August 31, 2009  

Person to be contacted regarding this report: Thomas G Anderson

1

PART II. QUALITATIVE OVERVIEW

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

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

standards and terms, and any other intermediation activity.  

Overview of American Express Lending Activities

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

makes revolving loans to consumers and small businesses through a variety of proprietary credit card

products that it offers. The Company also facilitates the extension of credit to consumers through its

Global Network Services business, which maintains relationships and permits banks and other financial

institutions to issue credit card products for use on the American Express network.  

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

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

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

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

addition, the Company extends credit to middle‐market and large businesses through its commercial

charge card products. The American Express Corporate Card and Corporate Purchasing Card help

companies manage their travel, entertainment and purchasing expenses.  

The Lending and Loan Demand Environment

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

credit to creditworthy consumers and businesses. In July 2009, overall U.S. spending volumes continued

to be soft reflecting the severe recessionary environment. Consistent with this trend, the U.S. managed

loan balance declined in July. Loan originations increased in July 2009 from June 2009 levels. Total

commitments (used and unused) are lower in July 2009 compared to June 2009 due to reduced

cardmember spending and some actions we are taking to prudently manage risk in the current

economic environment.  

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: August 31, 2009 Person to be c

PART I. QUANTITATIVE OVERVIEW

SCHEDULE A: CONSUMER LENDING (Millions $) MAY JUN JUL Key 1. First Mortgagea. Average Loan Balance (Daily Average Total Outstanding) $253,354 $247,488 $245,204 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 $35,923 $42,020 $36,505 Originations include both loans originated for the balance sheet as well as loans originated for

sale.

(1) Refinancings $25,792 $29,087 $23,284

(2) New Home Purchases $10,131 $12,934 $13,221

2. Home Equity

a. Average Total Loan Balance $156,770 $155,567 $154,270 Average balances represent HELOC, HELOAN and Reverse Mortgage, but do not include

discontinued real estate (sub prime)

b. Originations (New Lines+Line Increases) $1,239 $1,063 $934 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 10

2009

Home Equity Av

Mortgage repre

compared to Q1

refinance deman

management, an

TREASURY MONTHLY INTERMEDIATION SNAPSHOT

1

c. Total Used and Unused Commitments $257,257 $254,604 $251,607 Total commitments include Reverse Mortgage.

3. US Card ‐ Managed

a. Average Total Loan Balance ‐ Managed $152,163 $149,831 $147,777 Average balances represent US Domestic Card and US Small Business Card.

b. New Account Originations (Initial Line Amt) $1,294 $1,560 $1,582 Originations represent US Domestic Card and US Small Business Card.

c. Total Used and Unused Commitments $657,875 $650,532 $643,828 Commitments represent US Domestic Card and US Small Business Card.

4. Other Consumer

a. Average Total Loan Balance $94,769 $94,529 $94,449 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 $2,134 $1,296 $2,767 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 over $1

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

1. C & Ia. Average Total Loan and Lease Balance $268,726 $263,840 $256,548 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 $15,334 $16,466 $18,727 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 $10,162 $10,271 $9,868 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 $75,009 $74,907 $74,860 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 $2,459 $2,124 $2,324 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 $523 $469 $612 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 $43,775 $43,210 $42,669 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

Overall new loa

the overall cond

financing contin

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

Demand in large 

capital expendit

managing worki

2

, , g ( p

i h f $2 $20 ) b. Originations $1,274 $1,716 $1,594 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 $1,375 $16,729 ‐$2,554 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 $186 ‐$53 ‐$20 Same as 1.a above.

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

a. Average Total Matched Book (Repo/Reverse Repo)1 $137,500 $120,697 $134,266 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 $31,220 $31,286 $28,902

3. Underwriting

a. Total Equity Underwriting $6,102 $6,465 $4,657 Underwriting represents BAC commitment on deals closed in current periods.

b. Total Debt Underwriting $28,047 $20,696 $15,693 Same as 3a.

Average Debit b

average Matche

The market cont

slower than wha

Gross MBS purc

sales were $2,99

Balance Sheet M

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

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

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

2
TREASURY MONTHLY INTERMEDIATION SNAPSHOT

Name of institution:  Bank of America

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

Submission date:  August 31, 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

Our perspective is that the recession has troughed and is in the early stages of recovery, although there

are clear lingering weaknesses.  Real GDP is projected to grow modestly in the second half of the year.  

Consumer spending will be a key determinant in the pace of recovery.

The most positive recent news is the rebound in housing activity and the initial signs that house price

declines are coming to an end.  Both new and existing home sales have risen in recent months.  Through

July, new single‐family home sales are 31.6% above their January lows and existing home sales are

16.7% above their lows.  The inventory of unsold homes is receding, although we suspect that the

inventory of existing homes has many layers and will take a while to unwind.  In addition to the

stabilization in the Case‐Shiller  Home Price Index in recent months, we note that an internal survey of

building contractor indicates that their expectations of future home prices have become more sanguine.

Although overall consumer spending remains weak, auto sales have risen in July‐August, boosted by the

government’s Cash for Clunkers program.  Whether these large subsidies for auto purchases are

borrowing from non auto sales is uncertain.  We expect that the recent rebound in housing activity will

support a pickup in household durable goods consumption in coming months, and this historically has

been an important cyclical swing factor.   
TREASURY MONTHLY INTERMEDIATION SNAPSHOT

Name of institution:  Bank of America

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

Submission date:  August 31, 2009

Person to be contacted regarding this report: Neil Cotty

2

In the last several months, job losses have abated and the unemployment rate has stabilized.  We expect

a continuation of this favorable trend, reflecting both the prior aggressive job layoffs and associated

sharp rise in unemployment rate, and the growing business confidence that product demand has

stabilized.  Also, in recent months, durable goods orders suggest that the earlier dramatic decline in

business investment spending is moderating significantly.   

The most recent economic reports from overseas have been favorable, suggesting a quicker‐than‐

expected rebound from recession.  Asian nations have recorded healthy bounce backs in production.  

European nations have reported healthy rebounds in consumption and GDP.  The UK has also reported

economic improvement and signs that its housing sector is stabilizing.  We expect that these improved

economic conditions will generate a rebound from the abrupt and sharp decline in international trade.

Credit Markets

In First Mortgage, application volumes increased slightly in July driven by lower rates.  Daily average

applications in July were $1.8 billion, an increase of 6 % from June.  July MHA (Making Homes

Affordable) application volume is approximately 12% of total refinance applications, or $2.1B.     

No significant changes in credit standards occurred during the month of July that would have impacted

originations.  Home Equity fundings (including Reverse Mortgage) in July were $0.9 billion which is 12%

lower compared to June.  The fundings for Home Equity were flat while Reverse Mortgage volumes

decreased 24% vs. June.  Home Equity applications in July were up 4% compared to June.

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.  Demand in large corporate and Middle

Market remains soft with limited demand for acquisition financing and capital expenditures. With the

economic outlook uncertain and credit costs high, businesses are aggressively managing working capital

and capacity, maintaining low inventories and deferring capital spending.   

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 July 2009, including commercial renewals of $21.1 billion, was $73.3 billion

compared to $75.3 billion in the prior month.  New credit included $36.5 billion in mortgages, $28.6

billion in commercial non‐real estate, $2.9 billion in commercial real estate, $1.6 billion in domestic and

small business card, $0.9 billion in home equity products and $2.8 billion in other consumer credit.

Excluding commercial renewals, new credit extended during the month was $52.2 billion.  
TREASURY MONTHLY INTERMEDIATION SNAPSHOT

Name of institution:  Bank of America

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

Submission date:  August 31, 2009

Person to be contacted regarding this report: Neil Cotty

3

Small Business:

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

$2.5 million) extended more than $169 million in new credit comprised of credit cards, loans and lines of

credit to more than 10,000 customers.   

Home Ownership/LMI:

In July of 2009, Bank of America funded $37 billion in first mortgages, helping more than 165,738 people

either purchase a home or refinance their existing mortgage.  Approximately 36 percent were for

purchases.  Additionally, Bank of America originated $9.4 billion in mortgages made to 61,497 low and

moderate income borrowers which are up from $8.1B and 51,436 borrowers in June (excludes Merrill

Lynch).  Also, Bank of America completed 18,639 modifications in July 2009.  Total home retention

workouts were 21,945 for the same period including Merrill Lynch.
Name of institution: The Bank of New York Mellon Corporation Submission date: August 31, 2009 

PART I. QUANTITATIVE OVERVIEW

SCHEDULE A: CONSUMER LENDING (Millions $) MAY JUN JUL Key 1. First Mortgagea. Average Loan Balance (Daily Average Total Outstanding) $5,019 $5,106 $5,151 Secured by 1st liens on closed‐end loans for 1‐4 family residential properties. Includes jum

mortgages.

b. Total Originations $160 $113 $58(1) Refinancings $137 $89 $39(2) New Home Purchases $23 $24 $19

2. Home Equity

a. Average Total Loan Balance $353 $356 $356 Secured by revolving, open‐end loans for 1‐4 family residential properties extended under 

credit.

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

TREASURY MONTHLY INTERMEDIATION SNAPSHOT

2009

1

c. Total Used and Unused Commitments $772 $767 $763 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 $674 $745 $813 Other consumer loans, excluding other revolving credit plans. These loans include single pa

loans and loans for household and other personal expenditures.

b. Originations $4 $2 $0

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

1. C & Ia. Average Total Loan and Lease Balance $9,399 $9,197 $8,888 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 $54 $116 $32

c. New Commitments $50 $127 $1

2. Commercial Real Estate

a. Average Total Loan and Lease Balance $3,077 $3,019 $2,973 Loans to finance commercial real estate, construction and land development. Includes real 

loans both secured and unsecured.

b. Renewal of Existing Accounts $196 $198 $44

c. New Commitments $21 $21 $81

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 $4,362 $449 $764b. 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 $4,163 $4,200 $4,322 

3. Underwriting

a. Total Equity Underwriting $116 $79 $5 Represents our portion of the transactions.

b. Total Debt Underwriting $737 $286 $105 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):  July 2009    

Submission date:  August 31, 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.  During the latter part of the fourth quarter 2008, and into the first half of 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: August 31, 2009 Person to be c

PART I. QUANTITATIVE OVERVIEW

SCHEDULE A: CONSUMER LENDING (Millions $) MAY JUN JUL Key 1. First Mortgagea. Average Loan Balance (Daily Average Total Outstanding) $19,263 $19,132 $18,866 Consists of 1‐4 family residential loans originated primarily through BB&T's branch network.

b. Total Originations $3,114 $3,143 $3,334 Includes loans originated for sale and to be held for investment.

(1) Refinancings $2,434 $2,329 $2,234(2) New Home Purchases $680 $814 $1,100

2. Home Equity

a. Average Total Loan Balance $5,959 $5,957 $5,960 Includes only home equity lines. All are originated through BB&T's branch network.

b. Originations (New Lines+Line Increases) $66 $85 $76

2009

TREASURY MONTHLY INTERMEDIATION SNAPSHOT

1

c. Total Used and Unused Commitments $15,815 $15,786 $15,736

3. US Card ‐ Managed

a. Average Total Loan Balance ‐ Managed $2,114 $2,193 $2,258 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) $204 $196 $245

c. Total Used and Unused Commitments $9,442 $9,468 $9,605

4. Other Consumer

a. Average Total Loan Balance $17,856 $17,873 $18,049 Includes non‐revolving home equity loans, sales finance and other consumer loans.

b. Originations $348 $401 $391

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

1. C & Ia. Average Total Loan and Lease Balance $34,640 $34,832 $34,935 In addition to traditional C&I loans, balances include leveraged leases, equipment finance and

commercial insurance premium finance.

b. Renewal of Existing Accounts $595 $543 $794

c. New Commitments $1,193 $1,284 $1,3342. Commercial Real Estate

a. Average Total Loan and Lease Balance $19,717 $19,667 $19,464b. Renewal of Existing Accounts $1,144 $1,452 $1,359

c. New Commitments $429 $400 $3014. Small Business Loans3

a. Average Total Loan Balance $12,328 $12,447 $12,175SCHEDULE C: MEMORANDA ‐ SMALL BUSINESS LENDING (Millions $)

2

b. Originations $1,073 $1,143 $878SCHEDULE D: OTHER INTERMEDIATION ACTIVITIES (Millions $)

1. MBS/ABS Net Purchased Volume

a. Mortgage Backed Securities $3,185 ‐$1,479 $624 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 $93 $94 $99

3. Underwriting

a. Total Equity Underwriting $0 $0 $0

b. Total Debt Underwriting $997 $494 $1,100

The total Book V

included.

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):  July 2009   

Submission date:  August 31, 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 and

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 July totaled $99.5 billion, an increase of 5.9% compared to

July 2008 and down slightly compared to June 2009. Changes in loans compared to June 2009 were led

by BB&T’s specialized lending subsidiaries which increased $220 million. Commercial loans and leases

decreased $113 million. Mortgage loans, excluding loans held for sale, decreased $192 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 6.75% compared to July 2008, but average

balances decreased marginally compared to June 2009.  

Commercial real estate

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

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

0.91% compared to July 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):  July 2009   

Submission date:  August 31, 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 July average direct retail portfolio, which

totals $14.5 billion, decreased 4.2% compared with the July 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 the 11 state BB&T

footprint. New loan volume is highly seasonal. The total sales finance portfolio, which totaled $6.5

billion on average for the month of July, was up by 3.6% compared to July 2008.  Sales Finance loans

were up 3.3% compared to June 2009.   

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

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 $1.8 billion in the month of July, an increase of 10.7%

compared to July 2008.

Mortgage

Mortgage originations totaled $3.12 billion in the month of July, up from $2.92 billion in June.

Application volume increased compared to July 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 totaled $18.9 billion on average for the month of July 2009, up 1.3% compared to July 2008.   

Capital Purchase Plan Deployment

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 include efforts to lend across all

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

challenges.  BB&T has active CPP 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.
Submission date: August 31, 2009 Person to be c

PART I. QUANTITATIVE OVERVIEW

SCHEDULE A: CONSUMER LENDING (Millions $) MAY JUN JUL Key 1. First Mortgagea. Average Loan Balance (Daily Average Total Outstanding) $13,167 $12,678 $12,178 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 $197 $260 $169(1) Refinancings $153 $206 $122(2) New Home Purchases $44 $54 $47

2. Home Equity

a. Average Total Loan Balance $4,561 $4,521 $4,489 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) $29 $33 $29

Name of institution: Capital One Financial Corporation

Capital One has 

loans. Mortgage 

currently in run‐

2009

Fluctuations in v

in credit standar

TREASURY MONTHLY INTERMEDIATION SNAPSHOT

1

c. Total Used and Unused Commitments $6,563 $6,521 $6,453

3. US Card ‐ Managed

a. Average Total Loan Balance ‐ Managed $50,605 $50,237 $49,772 US Card reflects only consumer card volumes; All numbers reflect managed portfolio

b. New Account Originations (Initial Line Amt) $521 $422 $449

c. Total Used and Unused Commitments $162,200 $161,408 $159,488

4. Other Consumer

a. Average Total Loan Balance $30,011 $29,358 $28,725 Other consumer non‐revolving include auto loans, unsecured installment loans and other non‐

revolving loans secured by boats, RVs, money‐market accounts, etc and $200 million of unsecured

other consumer revolving lines.

b. Originations $424 $506 $491 For the small volume of revolving loans, the line extended is included in originations.

We’ve observed 

markets as com

credit trends, w

results have bee

Despite the wea

card accounts th

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

1. C & Ia. Average Total Loan and Lease Balance $23,696 $23,551 $23,327 Small Business credit cards are included in C&I avg balance and new commitments numbers.

b. Renewal of Existing Accounts $340 $210 $157

c. New Commitments $334 $421 $348 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 $18,865 $18,829 $18,719b. Renewal of Existing Accounts $100 $66 $48

c. New Commitments $83 $88 $2384. Small Business Loans3

a. Average Total Loan Balance $12,008 $11,889 $11,641

Weakening loan 

weaker for large 

decrease in dem

accounts receiva

across a variety 

Despite deterior

May to July 2009

have cut back ex

sector in genera

deterioration is 

in construction a

translated into s

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

2

b. Originations $92 $202 $62SCHEDULE D: OTHER INTERMEDIATION ACTIVITIES (Millions $)

1. MBS/ABS Net Purchased Volume

a. Mortgage Backed Securities $962 $320 $180b. Asset Backed Securities $916 $455 ‐$1482. 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):  May–July 2009   

Submission date:  August 31, 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.  The Bureau of Labor Statistics reported that 247,000 jobs were lost in

July, a decrease of 196,000 from the June figure of 443,000.  This decrease drove the July

unemployment rate down by 10 bps from the prior month to 9.4%.  Though the unemployment rate is

still up 450 bps from the start of the recession (December 2007), the July decrease represents the first

sequential monthly decline in unemployment rate since March of 2008.   Consumer confidence trends

are more mixed as the University of Michigan’s consumer confidence index reported a 7 point increase

in July but consumer spending showed no signs of improvement with an 8.3% decline in consumer

spending reported for July.   Consumers continue to remain cautious on their use of credit as evidenced

by the Federal Reserve’s August 7, 2009 Consumer Credit report which detailed that consumer credit

decreased at an annualized rate of 5.25% in the second quarter, with revolving credit decreasing at an

annualized rate of 8.25% and non revolving credit decreasing at an annualized rate of 3.5%.   

The U.S. Department of Housing and Urban Development reports less upbeat news for the month of

July.   Building Permits and Housing Starts were both nearly flat, down 1.8% and 1.0% respectively,

versus the month of June.  A year‐over‐year comparison reveals that both monthly Building Permits and

Housing Starts have declined more than 35% compared with July 2008.  
TREASURY MONTHLY INTERMEDIATION SNAPSHOT

Name of institution:  Capital One Financial Corporation

Reporting month(s):  May–July 2009   

Submission date:  August 31, 2009

Person to be contacted regarding this report:  Kevin Murray

2

Given the current economic conditions, Capital One continues to expect modest declines in loan

balances and demand for additional credit cards from credit worthy consumers.  Even so, Capital One

extended more than $1.3 billion in new credit to card customers during the three month period May

through July 2009.  

Other consumer lending continued to decline in line with broader economic factors.  Despite these

headwinds, Capital One originated more than $1.4 billion in “other consumer loans”, such as auto loans,

between May and July 2009.    

Commercial and Small Business Lending and Commercial Real Estate Lending

Commercial and Industrial lending balances declined slightly over the May to July 2009 period.  C&I loan

demand was moderately weaker; the decrease in demand appears to be 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 $1.8 billion in new commitments and renewals of existing accounts in the

three months through July 2009.

The size of the Commercial Real Estate portfolio was effectively flat in the May to July reporting period,

shrinking by less than 1%.   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 see continued

softness in construction and development activity due to limited demand and excess supply in some

markets.  This has translated into significant declines in new construction projects in all of our markets.  

We continue to make new Commercial Real Estate loans across a variety of industry segments, as well as

lending in new markets, which contributed to just under $600 million dollars in new commitments and

renewals of existing accounts in the three months through July 2009.

Investment Activity in Support of Consumer Lending

The financial markets have continued to stabilize since quarter end.  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 remainder of the year.  In credit space, despite expectations of higher
TREASURY MONTHLY INTERMEDIATION SNAPSHOT

Name of institution:  Capital One Financial Corporation

Reporting month(s):  May–July 2009   

Submission date:  August 31, 2009

Person to be contacted regarding this report:  Kevin Murray

3

unemployment, spreads look to continue their tightening trend barring any unforeseen economic

developments.  

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

customers, we 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 July 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 a number of our CMBS positions (included in ABS volume numbers) in response to improved

pricing.  Additionally, we sold a number of our Fannie Mae and Freddie Mac backed MBS and used the

proceeds to purchase Ginnie Mae backed MBS.  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.
Submission date: August 31, 2009 Person to be c

PART I. QUANTITATIVE OVERVIEW

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

Name of institution: CIT Group Inc.

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 $12,122 $11,999 $11,871 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 $) MAY JUN JUL Key 

1. C & Ia. Average Total Loan and Lease Balance $51,152 $49,637 $40,668 Included in the C & I asset balances is approximately $13.3 Billion of operating leases

b. Renewal of Existing Accounts $2,683 $2,783 $2,378 The Renewal of Existing Accounts is predominately from our Trade Finance business.

c. New Commitments $746 $609 $993 The bulk of our new commitments were generated from Global Vendor Finance. Additionaly the

Aerospace segment had a strong month.

2. Commercial Real Estate

a. Average Total Loan and Lease Balance $792 $768 $746 Some of our other businesses‐ Small Business Administration lending, and Energy financing, may

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

appropriate section of the report

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

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

a. Average Total Loan Balance $1,574 $1,511 $1,497 CIT is a leader in 

SBA Lender (bas

CIT's Commercia

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

Our commercial 

‐Corporate Finan

companies, thro‐Transportation 

rail and defense 

‐Trade Finance‐ 

retail supply cha

‐Vendor Finance

around the glob

2

b. Originations $7 $10 $8

SCHEDULE D: OTHER INTERMEDIATION ACTIVITIES (Millions $)

1. MBS/ABS Net Purchased Volume

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

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

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

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

CIT is currently n

CIT is currently n

CIT is currently n

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

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

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

2
TREASURY MONTHLY INTERMEDIATION SNAPSHOT

Name of institution:  CIT Group Inc

Reporting month(s):  July 2009   

Submission date:  August 31, 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 did not improve during Q2 2009 and are not forecasted for an upturn prior to mid‐2010.  The

Business Air markets have stagnated due to both lack of capital and demand.  Asset values have decreased

since Q1 2009 but have since begun to stabilize.  Excess inventory remains a significant problem.

Transportation Finance – Commercial Aircraft

Profit margins remain soft due to weakness in the Commercial Air market.  Mexican airlines are beginning

to see improvement as bookings are slowly coming back after a severe drop in Mexican traffic due to H1N1

virus.  For the remainder of the year we expect pressure on margin, reflecting softened lease rate 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. Additionally, CIT observed minimal levels of

delinquencies during Q2 and portfolio utilization remains at 100%.

Transportation Finance – Rail Cars

Market conditions continue to deteriorate as rail carriers are seeing significant volume declines and are

doing what they can to reduce costs.  Overall rail loadings have declined 20% so far in 2009. This is resulting

in decreased utilization and intense margin pressure.  New rail car purchases are being delayed and CIT is

observing shorter‐duration lease renewals.  Within this market environment, rates are being cut in an effort

to keep rail cars on lease.

New lease commitments are limited to new car purchases under prior commitments.  No new

commitments are being added.

Leveraged Finance (relative to the Transportation Sector)

Loan demand relative to M&A driven financing, remains slow and downward pressure on industry

fundamentals is creating a pause in M&A activity in the Transportation sector.

Corporate Finance / Loan Syndication

CIT experienced a slight pickup in loan demand in July, although most activity continues to comprise

amendments and extensions.  M&A transaction flow remains extremely weak, but we have also seen a

slight pickup there in terms of companies being auctioned.  Portfolio‐wise we continue to work on

restructuring a number of credits where the debt is unmanageable as a result of EBITDA declines due to

cyclical or other factors.
TREASURY MONTHLY INTERMEDIATION SNAPSHOT

Name of institution:  CIT Group Inc

Reporting month(s):  July 2009   

Submission date:  August 31, 2009

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

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

continuing to tick up to levels above those at the time of Lehman’s bankruptcy in September 2008.  YTD the

leveraged loan market has shrunk by 14% to $500B due to repayments, high yield refinancings, and lack of

primary issuance.  The lack of new deals continues to be a major complaint by buyside investors.

Banks’ lending appetite continues to be centered in larger, higher quality borrowers and asset‐based

transactions, although ABL activity has tapered off somewhat from the high levels in May‐June.

Trade Finance

Conditions in the marketplace are similar to last month in that 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.  In July, CIT experienced a dramatic increase in draws on existing lines by clients as a result of

adverse publicity surrounding CIT.  This activity stabilized after a July 20th announcement of deal with

certain debt holders.

Vendor Finance

In July, CIT observed a reduction is losses from our client base as compared to June.  CIT remains cautiously

optimistic that this trend will continue for the rest of 2009 as the economy recovers.  Demand within the

global markets that CIT operates, currently exceeds CIT’s Global Vendor Finance liquidity allocation as many

competitors have exited the markets and major banks continue to adhere to tight underwriting standards.

CIT experienced a slowdown in vendor procurement in July as it relates to June; this was expected during

the summer months and the first month of a quarter.  As for the macroeconomics across the Vendor

Finance business segments, CIT is seeing/ experiencing the following:

 Canada ‐ continues in a recession; capital spending has either been cut or delayed;

 Latin America – considered a recessive market with low growth and stable expectations;

 Europe ‐ all geographies remain in recession, while bottom is not believed to have been reached,

recovery is expected;

 US ‐ The global banks continue to be aggressive in the US with price and liquidity.  

Small Business Lending

The America’s Recovery Capital Loan program (ARC) has now been in effect for approximately one month.  

There is still skepticism on the effectiveness of the program; this program requires a credit score of 680

which many small business owners don’t have.  Many small business owners are having difficulty staying

afloat during the current economic environment and will not be able to meet this requirement.  

Furthermore, this program puts lenders in a position of making loans which have historically had high

default rates at an interest rate if 1.25% which is below the current prime rate.
TREASURY MONTHLY INTERMEDIATION SNAPSHOT

Name of institution:  CIT Group Inc

Reporting month(s):  July 2009   

Submission date:  August 31, 2009

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

Consumer Lending

Personal income decreased by 1.3% in June after an increase of 1.3% in May, reflecting one‐off payments

associated with the stimulus package.  Non‐farm payrolls declined 247,000 in July indicating a recovery

from Q1 2009 lows and an improvement from recent periods.  The unemployment rate decreased to 9.36%

in July, making it the first decrease since April 2008; with the unemployment report showing broad‐based

improvement, it further strengthens the argument that the recession may be ending.  

Consumer portfolios continue to perform as expected. Delinquency in our Federal Family Education Loan

Program portfolio has improved, and has now stabilized from the highs we experienced at the end of Q4

2008 and in Q1 2009.  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

60+ delinquency collections continue to be effective as our partnership with a third party collection agency

has helped us keep charge‐offs in line with expectations.
Name of institution: Citigroup Inc. Submission date: August 31, 2009 Person to be c

PART I. QUANTITATIVE OVERVIEW

SCHEDULE A: CONSUMER LENDING (Millions $) MAY JUN JUL Key 1. First Mortgagea. Average Loan Balance (Daily Average Total Outstanding) $150,598 $149,423 $143,530 Consists of residential whole loans. Excludes assets classified as trading assets that are not part of

the core mortgage portfolio.

b. Total Originations $9,701 $11,701 $5,344 Originations includes new loans whether for refinance of an existing home or the purchase of a

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

terms and not additional extensions of credit.

(1) Refinancings $1,888 $2,145 $2,171 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 $316 $637 $424

2. Home Equity

a. Average Total Loan Balance $65,851 $65,010 $64,078 Includes HELOC and 2nd mortgages.

b. Originations (New Lines+Line Increases) $147 $135 $124 If a line is increased, only the amount of the increase is included in originations. If we originated a

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

included the total new line in originations

Citi originated $

Institutional Cor

resulting from d

respectively. Wa

volume. First mo

Note that for co

the $7.1B in sale

whole loan sales

2009

Home equity loa

correspondent a

branches. The h

continues to pla

terms as approp

particular loan s

Various program

TREASURY MONTHLY INTERMEDIATION SNAPSHOT

1

included the total new line in originations.

c. Total Used and Unused Commitments $84,456 $83,436 $82,239

3. US Card ‐ Managed

a. Average Total Loan Balance ‐ Managed $141,575 $141,791 $141,744 Balances do not include commercial card activity.

b. New Account Originations (Initial Line Amt) $8,331 $7,250 $6,547

c. Total Used and Unused Commitments $879,232 $872,088 $868,455

4. Other Consumer

a. Average Total Loan Balance $61,083 $60,536 $59,252 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 $1,237 $1,077 $1,036

Auto Loans: Orig

that July is an hi

restructuring act

down $4.4B or 2

proactive steps t

Student Loans: D

at the end of Jun

Personal Installm

borrowers, has d

Purchase sales w

receivables were 

Total Used and U

to participate in 

68% vs. prior ye

Various program

Mortgage Progr

equity loans tot

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

1. C & Ia. Average Total Loan and Lease Balance $37,426 $34,893 $32,049 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 $593 $2,068 $815

c. New Commitments $444 $1,380 $6772. Commercial Real Estate

a. Average Total Loan and Lease Balance $25,907 $25,595 $25,462 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 $73 $149 $1,179

c. New Commitments $102 $103 $120SCHEDULE C: MEMORANDA ‐ SMALL BUSINESS LENDING (Millions $)

4. Small Business Loans3

a. Average Total Loan Balance $10,283 $10,225 $10,113

For Commercial 

enhance collate

Average balance

Average balance

activity in the th

2

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

1. MBS/ABS Net Purchased Volume

a. Mortgage Backed Securities ‐$2,797 $5,462 $4,270 Does not include maturities and pay downs. Net Purchased Volume is reported using cost basis.

b. Asset Backed Securities  ‐$25 $175 ‐$20

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

a. Average Total Matched Book (Repo/Reverse Repo)1 $133,174 $130,883 $133,116 Average Total Matched Book (Repo/Reverse Repo) is before FIN 41 netting. Includes security

lending activity.

b. Average Total Debit Balances2 $22,176 $14,773 $14,954

3. Underwriting

a. Total Equity Underwriting $103 $62 $37 Equity Underwriting represents Citi's portion of underwritten issue.

b. Total Debt Underwriting $22,731 $25,812 $16,059 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 112 

There were 46 E

Additionally, mo

both equity and 

Net volume was 

respectively.

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):    July 2009   

Submission date:    August 31, 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 June 2009, unless otherwise noted.

Consumer Lending:  Citi originated $13.1 billion in loans to U.S. consumers and small business in July,

down 35.3 percent from June.   Weak economic data, coupled with higher savings rates, constrained

demand for new loans, as unemployment remained high at 9.4 percent, down marginally from June.   

First mortgage originations declined for the first time in four months to $5.3 billion from $11.7 billion in

June, reflecting a temporary discontinuance of loan registrations in Citi’s Institutional Core.  Loan

registrations have since resumed.  Average mortgage loan balances declined by $5.9 billion, or 3.9

percent, from June levels.  This 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 $64.1 billion, decreasing 1.4 percent in July and continuing the

trend experienced in June.  Citi’s volume of home equity loans continued to decline because of its

smaller channel network, compared with previous periods.  Used and unused commitments declined

moderately to $82.2 billion, or down 1.4 percent from June.  

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

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

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

7,139 first mortgage and home equity loans with a total value of $1.0 billion in July.

Weak U.S. spending activity and an increase in savings rates continued to impact credit card lending and

average consumer credit card balances remained flat for the fourth consecutive month.  Purchase sales

were also flat, as compared with June, and down 15 percent versus the prior year period.   New credit

lines issued to eligible borrowers totaled $6.5 billion, down 9.7 percent from June.  Used and unused

commitments declined marginally by 0.4 percent.   

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

eligibility forbearance programs.  More than 173,000 card members enrolled in these programs in July,

up 5 percent from June and 68 percent from July 2008.   
TREASURY MONTHLY INTERMEDIATION SNAPSHOT

Name of institution:    Citigroup Inc.

Reporting month(s):    July 2009   

Submission date:    August 31, 2009

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

2

Average total loan balances for other consumer lending declined 2.1 percent to $59.3 billion, reflecting

seasonally lower volumes in auto loan originations, the sale of $1.2 billion in student loans to the U.S.

Department of Education at the end of June and a lower volume of personal installment loans due to

tighter lending standards.

Commercial Lending:  The weak economic environment had a significant impact on commercial lending

activity in July.  Total corporate loan originations fell 36.1 percent to $18.9 billion.  Average Commercial

& Industrial (C&I) loan balances declined to $32.0 billion, or down 8.1 percent from June, while new C&I

commitments were less than half June balances.   

In July, average total Commercial Real Estate (CRE) loan and lease balances declined moderately, or 0.5

percent, to $25.5 billion.  Although operating from a small base, Citi’s new loan origination showed signs

of improvement with activity increasing 16.1percent to $120.1 million, while the aggregate value of

existing loan renewals increased nearly seven‐fold to $1.2 billion.  

Other Intermediation Activities:  Citi made net sales of $4.2 billion in mortgage‐ and asset‐backed

securities (MBS/ABS) in July.  MBS activity reflects an increase in customer demand, leading to a 32

percent rise in purchase volume and a 39 percent rise in sales volume in July.

Citi’s total debt underwriting decreased in July to $16.1 billion, or down 37.8 percent, reflecting lower

deal volumes and lower average principal per deal.  High yield underwriting activity included 30 deals

totaling $13.4 billion, compared with 37 high yield transactions with a cumulative value of $15.1 billion

in June.  Citi lead managed six of the deals in July with an aggregate value of $1.0 billion.  In addition, Citi

participated in 112 investment grade deals with a total value of $40.2 billion, compared with 132 deals

totaling $54.8 billion in June.  Citi was lead manager for 15 of the deals in July with a total value of $4.0

billion.  Citi participated in a total of 46 equity and linked deals, compared with 88 deals in June.  The

aggregate value of the July deals was $8.4 billion, compared with $31.0 billion in June.  Citi lead

managed five of these deals totaling $406 million.
Name of institution: COMERICA INCORPORATED Submission date: 08/28/09 Person to be c

PART I. QUANTITATIVE OVERVIEW

SCHEDULE A: CONSUMER LENDING (Millions $) MAY JUN JUL Key 1. First Mortgagea. Average Loan Balance (Daily Average Total Outstanding) $1,798 $1,778 $1,746 Consists of 1st lien 1‐4 family residential mortgage and construction loans originated by Comerica

Bank.

b. Total Originations $40 $48 $48 Consists of loans funded during the period, including those originated for sale.

(1) Refinancings $27 $34 $33(2) New Home Purchases $13 $14 $15

2. Home Equity

a. Average Total Loan Balance $1,794 $1,800 $1,799 Consists of both fixed and revolving home equity (2nd lien) loans.

b. Originations (New Lines+Line Increases) $10 $13 $15 Excludes commitments/originations where home equity collateral is provided for multiple

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

(Schedule B).

TREASURY MONTHLY INTERMEDIATION SNAPSHOT

First mortgage o

June '09/$13M M

July refinancings 

2009

July originations 

1

c. Total Used and Unused Commitments $3,282 $3,287 $3,252

3. US Card ‐ Managed

a. Average Total Loan Balance ‐ Managed $49 $50 $50 Consists primarily of commercial bankcard loans.

b. New Account Originations (Initial Line Amt) $24 $17 $14 Includes new card loans funded during the period and new referrals to our consumer card partner.

c. Total Used and Unused Commitments $368 $373 $386

4. Other Consumer

a. Average Total Loan Balance $733 $717 $702 Consists of consumer installment loans (both secured and unsecured) and student loans.

b. Originations $74 $57 $48

July other consu

Texas markets, r

New account or

May '09).

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

1. C & Ia. Average Total Loan and Lease Balance $28,620 $27,850 $26,932 Consists of loans for commercial and industrial purposes to both domestic and international

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

b. Renewal of Existing Accounts $2,108 $3,215 $3,304 Includes renewals of and increases to lines with existing customers.

c. New Commitments $287 $363 $285 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 $14,804 $14,718 $14,498 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 $432 $469 $492 Includes renewals of and increases to lines with existing customers.

c. New Commitments $95 $54 $16 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 $4,026 $3,973 $3,915 Includes Small Business Administration loans and loans to other entities generally with annual

sales of less than $10 million at initial relationship.

July CRE renewa

offset by $69M d

July new comme

$20M and $5M 

the Midwest ma

July originations 

$21M and $4M 

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

July new commerc

markets, respectiv

Market, National D

Corporate BankingJuly renewals incre

respectively, offset 

Specialty Businesse

$22M in Global Co

2

b. Originations $340 $430 $393 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 ‐$233 ‐$1,741 ‐$753 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  ‐$3 ‐$14 ‐$58 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 $13,698 $3,370 $859 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):  July 2009   

Submission date:  August 28, 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 tightened its underwriting

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

Consumer Lending  

Overall, consumer lending activity was flat in July compared to June 2009.  Home Equity application

volumes and originations increased slightly.  First mortgage application volumes decreased while

originations were consistent with June 2009.  Other Consumer application volumes increased while

originations decreased.   

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 and new commitments of $727 million were booked in the Mortgage Banker and

Financial Services Divisions in July 2009.
TREASURY MONTHLY INTERMEDIATION SNAPSHOT

Name of institution:  COMERICA INCORPORATED

Reporting month(s):  July 2009   

Submission date:  August 28, 2009

Person to be contacted regarding this report:  Darlene Persons

2

Commercial Lending

C&I lending renewals continued to increase in July 2009 after a significant increase in June 2009.  The

increase in renewals reflected increases concentrated in Specialty Businesses, partially offset by

decreases largely in the Global Corporate Banking division.  By market, the increases were concentrated

largely in our Western market and, to a lesser degree, in our Florida and Texas markets offset by a

decrease in our Midwest market.  New C&I commitments decreased in July with decreases in most

lending divisions, but concentrated in Specialty Businesses.  The decrease was partially offset by an

increase in the Global Corporate Banking division.   By market, the decrease was concentrated in the

Western market.  

Commercial real estate renewals increased in July from June 2009 while new commitments decreased.  

The increase in renewals was largely in the Mortgage Banker Finance lending division.

  

Small Business Lending

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

than $10 million at initial relationship, which is generally consistent with the definition of a company

that is not national in scope.  The Small Business division includes SBA lending.  Small Business renewals

and new commitments decreased in July from June 2009 reflecting decreases in both C&I and CRE in our

Midwest market.

Other Intermediation Activities

  

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

during July 2009 totaled $859 million, providing access to liquidity for municipalities and corporate

customers.
Name of institution: Fifth Third Bancorp Submission date: August 28, 2009 Person to be 

PART I. QUANTITATIVE OVERVIEW

SCHEDULE A: CONSUMER LENDING (Millions $) MAY JUN JUL Key 1. First Mortgagea. Average Loan Balance (Daily Average Total Outstanding) $13,363 $13,701 $12,651 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 $2,493 $2,854 $2,113(1) Refinancings $2,113 $2,350 $1,559(2) New Home Purchases $380 $504 $554

2. Home Equity

a. Average Total Loan Balance $12,025 $11,954 $11,915 Average balance consists of HELOC and HELOAN accounts consistent with the classification of the

FR Y9C report.

b. Originations (New Lines+Line Increases) $105 $140 $148

Total originati

million of new 

2009

Fifth Third ext

TREASURY MONTHLY INTERMEDIATION SNAPSHOT

1

c. Total Used and Unused Commitments $20,207 $20,104 $20,031

3. US Card ‐ Managed

a. Average Total Loan Balance ‐ Managed $2,138 $2,168 $2,203 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) $185 $168 $102

c. Total Used and Unused Commitments $13,080 $12,900 $11,576

4. Other Consumer

a. Average Total Loan Balance $9,387 $9,373 $9,352 Average balance consists of auto and other consumer loans and leases consistent with the

classification of the FR Y9C report.

b. Originations $309 $371 $361

Other consum

July new cred

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

1. C & Ia. Average Total Loan and Lease Balance $29,351 $28,884 $29,418 Average balance consists of non‐real estate commercial loans and leases consistent with the

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

b. Renewal of Existing Accounts $1,486 $2,111 $1,924 Includes renewed funded loans and renewed commitments.

c. New Commitments $993 $2,434 $1,014 Includes new commitments both funded and unfunded

2. Commercial Real Estate

a. Average Total Loan and Lease Balance $18,749 $18,619 $18,790 Average balance consists of real estate secured commercial loans consistent with the classification

of the FR Y9C report.

b. Renewal of Existing Accounts $393 $764 $383 Includes renewed funded loans and renewed commitments.

c. New Commitments $113 $206 $130 Includes new commitments both funded and unfunded

4. Small Business Loans3

a. Average Total Loan Balance $5,551 $5,490 $5,424 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 com

2009. Renewa

billion.New CRE com

2009. The July 

Small Busines

June 2009.

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

2

b. Originations $234 $352 $265SCHEDULE D: OTHER INTERMEDIATION ACTIVITIES (Millions $)

1. MBS/ABS Net Purchased Volume

a. Mortgage Backed Securities $54 $674 $612 Consists of MBS purchases less sales for the month.

b. Asset Backed Securities $217 $441 ‐$45 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 $729 $513 $637

MBS purchase

received from 

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):  July 2009   

Submission date:  August 28, 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 increased by approximately 0.9% in July 2009 compared to June 2009.  New

CRE commitments originated in July 2009 were $130 million, which was down from $206 million in June

2009.  Renewal levels for existing accounts decreased in July 2009 to $383 million versus June 2009 at

$764 million.  The July renewal level was similar to the level seen in May at $393 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 increased by approximately 1.8% in July 2009 compared to June 2009 as new

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

originated in July 2009 decreased to $1.014 billion compared to $2.434 billion in June 2009.  New C&I

commitments originated in June include a $1.25 billion loan to a joint venture in which Fifth Third Bank

is a 49% owner.  Renewal levels for existing accounts in July 2009 of $1.924 billion were lower than June

2009 at $2.111 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 weaken, 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 July 2009

compared to June 2009.  Given the outlook for the economy, many companies continue to scale back

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 July.  Terms and covenants continue to be

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

narrowed somewhat in July, 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):  July 2009   

Submission date:  August 28, 2009

Person to be contacted regarding this report:  Blane Scarberry   

2

Small Business:  Average Small Business balances decreased by approximately 1.2% in July 2009

compared to June 2009.  Small Business commitments originated in July 2009 were $265 million, which

was down from $352 million in June 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 up 1.5% in July 2009 compared to June

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

which partially offset new loan volume in the month of July.   

Consumer sections                            

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

and auto) was slightly down compared to June 2009 given reduction in credit card and auto demand.   

July continued to be an exceptional month for mortgage lending, driven by attractive interest rates.  

Total originations for the month totaled $2.1 billion driven by $1.6 billion of refinancing activity and over

$550 million of new home purchases.  We also extended $148 million of new home equity lines of credit

during the month.

July new credit card extensions were $102 million, a decrease from our $168 million of extensions in

June.  Other consumer loan originations, which include new car loans, were $361 million in July.  This

was a decrease of approximately $10 million from June.   

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

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

secondary market.

Treasury section                            

The decline of $45 million in the asset‐backed securities was the result of no new purchases and pay

downs received from the Auto backed ABS. The increase of $612 million in MBS was the result of

purchases during the month as part of the normal portfolio activity.
Name of institution: The Goldman Sachs Group, Inc. Submission date: August 31, 2009 Person to be c

PART I. QUANTITATIVE OVERVIEW

SCHEDULE A: CONSUMER LENDING (Millions $) MAY JUN JUL Key 1. First Mortgagea. Average Loan Balance (Daily Average Total Outstanding) $4,052 $3,873 $3,738 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 $19 $31 $40(1) Refinancings $16 $17 $27(2) New Home Purchases $1 $14 $13

2. Home Equity

a. Average Total Loan Balance $142 $139 $137 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 activity in th

the impact of loa

retained on bank

Goldman Sachs i

lending through 

c. Total Used and Unused Commitments $21 $21 $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 $1,145 $1,162 $1,204 Amounts, reflected as principal balances, include secured mixed use consumer loans.

b. Originations $102 $17 $72

Goldman Sachs i

lending through 

Goldman Sachs i

lending through 
SCHEDULE B: COMMERCIAL LENDING (Millions $) MAY JUN JUL Key 

1. C & Ia. Average Total Loan and Lease Balance $79,096 $78,216 $74,254 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 $250 $641 $264

c. New Commitments $640 $1,504 $7282. Commercial Real Estate

a. Average Total Loan and Lease Balance $23,254 $22,654 $22,020 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 $13 $264 $100

c. New Commitments $40 $0 $04. Small Business Loans3

a. Average Total Loan Balance $4,022 $3,907 $3,814 Amounts, reflected as principal balances, include originated and purchased senior and junior

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

In July, loan mar

repayments. The 

38.44%. In July, G

corporations.The Commercial 

implementation 

CMBX tightened 

The rally was con

the watch for do

continues to dist

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

Since middle of 2

experienced mo

b. Originations $0 $1 $3SCHEDULE D: OTHER INTERMEDIATION ACTIVITIES (Millions $)

1. MBS/ABS Net Purchased Volume

a. Mortgage Backed Securities ‐$4,809 $3,833 ‐$6,747 Volumes reflect net settled proceeds on purchases and sales.

b. Asset Backed Securities $214 ‐$240 $21 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 $209,483 $210,416 $202,123 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 $110B, $108B and

$109B for May, Jun and Jul respectively.

b. Average Total Debit Balances2 $73,192 $76,663 $73,650 Debit balances are reflected on a gross basis prior to any FIN 39 netting.

3. Underwriting

a. Total Equity Underwriting $11,477 $9,646 $3,640 Total equity underwriting volumes were sourced from Thomson Reuters.

b. Total Debt Underwriting $201,420 $176,187 $191,908 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.

The activity in the 

rapid pace. The f

we saw increased 

The non‐agency r

demand however 

Securities lendin

levels with no sig

Margin Debit ba

Equity markets c

deals compared 

equally across A

The short term 

issuance which w

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):  July 2009   

Submission date:  August 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 $47 billion of supply price in July of 2009 across corporate and

TLGP securities.  TLGP issuance was $8 billion while the broader credit market (comprised of corporate and

non government guaranteed financial institution supply) was $39 billion.  Compared to 2008 credit market

supply, July volumes were up 41% vs. July 2008 and down 35% vs. June 2009.  TLGP volumes have slowed

notably given 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 October.  On the

corporate side, supply continued to be modestly robust with large benchmark deals from Barclays Bank,

SFEF, CareFusion, Boeing, Dow Chemical and BP.  2009YTD supply was $471 billion in corporate volumes

and $174 billion in TLGP.  This compares to a total of $558 billion this time last year.

During July 2009, the leveraged finance market was again very active, particularly the high yield bond

market.  The high yield market saw $18 billion for the month, up slightly from the $17 billion priced in June,

but down from the $25 billion priced in May.  This compares to $38 billion of proceeds raised during the

entirety of 2008.  Thirty five high yield bond tranches priced during July for average proceeds of $499

million, up from an average deal size of $364 million in June.  Four tranches priced for greater than $1

billion in proceeds, compared to zero for $1 billion+ in June, and six $1 billion+ proceed deals priced in May.  

In the largest offering of the month, Wind (Italian telecom company) priced a €1.25 billion and $2.0 billion

dual‐tranche transaction.  The bond was the largest European high yield bond priced since October 2006

and the largest ever US dollar tranche by a European corporate.  Secured note offerings were again

prominent as fourteen tranches of secured notes priced during the month as issuers continued to refinance

secured bank loan debt with bonds.

Leveraged loan market technicals saw improvement given many bond issuances to refinance bank facilities,

as well as continued improvement of secondary levels.  The loan new issue market saw ~$3 billion in

institutional new issuance over the month of July, a modest increase from the ~$2.5 billion priced in June,

and approximately the same level priced in May ($3 billion).  Activity was again focused on amendments,

   
TREASURY MONTHLY INTERMEDIATION SNAPSHOT

Name of institution:  The Goldman Sachs Group, Inc.

Reporting month(s):  July 2009   

Submission date:  August 2009

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

2

extensions and covenant relief.  The 'amend & extend' trend continued to prove to be a viable financing

alternative to proactively address large leveraged loan maturities.

The market again successfully digested the large supply as secondary cash levels remained firm and even

increased over the month.  From the middle to the end of the month, the market saw a meaningful rally as

high yield bids rallied ~7 points and loan bids increased ~4 points, both driven by strong technicals. The

leveraged finance markets continued to witness the theme of portfolio diversification as investors

demonstrated strong demand for transactions across ratings, maturities and industries.  

In July, the secondary non‐agency mortgage securitization market reversed the June sell‐off.  Prime paper

and clean Alt‐A paper rallied the most, up 8‐12 points, on the announcement of PPIP program details.

Dented Alt‐A, Option Arms and Subprime slightly lagged, rallying 5‐8 points on the month, as yield

evaporated from other sectors and some distressed players believe that the housing market is starting to

stabilize.  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 bond market saw a total new issue supply of $24 billion in July 2009, down 36% from the

prior year.  Tax‐exempt issuance totaled $20 billion in July 2009, while taxable issuance totaled $4 billion.  

Taxable issuance was predominantly driven by the continued popularity of the Build America Bond ("BAB")

Program, which continues to afford municipal issuers the opportunity to obtain a significantly lower cost of

capital compared to tax‐exempt financing alternatives.  At the end of July, BAB issuance YTD totaled $19

billion, and new issue spreads have consistently tightened since the first BAB offerings entered the market

in April 2009.  The BAB program remains a cost‐effective, popular financing option for municipal issuers and

offers fixed‐income investors a more diverse set of investment alternatives.  We continue to see large,

benchmark offerings generate strong demand from investors across the municipal, investment‐grade and

rates markets.  On July 10, Goldman Sachs served as Lead Manager for the $185 million Public Power

Generation Agency of Nebraska/Whelan Energy Center BAB offering, rated A2/A‐.

Another major theme from July 2009 is the continued strong reception that healthcare issues and lower‐

rated credits have seen from investors.  In a cash‐heavy, yield‐sensitive environment, an increasing number

of investors have been willing to participate in new issues that offer incremental yield compared with

general obligation bonds and essential service credits.  As demand for such offerings has increased, issuers

have been able to fund their capital needs on a more cost‐effective basis. The mutual fund complex has

been a particularly strong driver of demand for this type of paper, as well as bonds across municipal market

sectors.  Municipal bond funds continue to experience very strong cash inflows on a weekly basis,

benefitting from over $4 billion of inflows during the month of July.  Goldman Sachs has been active in the

healthcare/high‐yield sector, and the firm's July highlights include the $150 million Hawaiian Electric

Company (Baa1/BBB), $103 million Memorial Hospital System of Colorado Springs (A3/A‐), $150 million

   
TREASURY MONTHLY INTERMEDIATION SNAPSHOT

Name of institution:  The Goldman Sachs Group, Inc.

Reporting month(s):  July 2009   

Submission date:  August 2009

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

3

   

Basin Electric Cooperative of Wyoming (A1/A+), $108 million County of Allegheny (A3/A+) and $57 million

Georgetown University (A3/A‐) offerings.  

Secondary trading activity was generally light in the high‐grade tax‐exempt space, although we saw solid

two‐sided activity in the high‐yield municipal sector.  Most market participants expressed a preference to

put cash to work in the new‐issue market, although BAB secondary trading was generally active throughout

the month.  
Submission date: August 28, 2009 Person to be 

PART I. QUANTITATIVE OVERVIEW

SCHEDULE A: CONSUMER LENDING (Millions $) MAY JUN JUL Key 1. First Mortgagea. Average Loan Balance (Daily Average Total Outstanding) $292 $291 $200

b. Total Originations $0 $0 $0(1) Refinancings $0 $0 $0(2) New Home Purchases $0 $0 $0

2. Home Equity

a. Average Total Loan Balance $11 $10 $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

acquisition am

upon The Hart

2009

The Hartford's 

it acquired on 

amounts. The 

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

acquisition am

Neither The Ha

US Card‐Mana

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

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

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

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

a. Average Total Loan and Lease Balance $6,450 $6,386 $6,293 Average loan balance for loans issued by Federal Trust Bank is determined using a daily average.

The average loan balance for July 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 $2 $1 $1 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 for May and 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

Commercial le

mortgages, rep

July 31, 2009. 

diversified bot

whole loans, w

investments by 

near term.

The Hartford's 

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

The Hartford's 

acquired on Ju

amounts. The 

Hartford's acq

activities inclu

Hartford held $

intermediation 

2

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

1. MBS/ABS Net Purchased Volume

a. Mortgage Backed Securities $13,378 $13,144 $13,578 Represents end‐of‐period carrying value. Includes CMBS of $8,590, CREs of $385 and RMBS of

$4,616 as of July 31, 2009.

b. Asset Backed Securities $4,419 $4,649 $4,614 Represents end‐of‐period carrying value. Includes ABS of $2,417, CLOs of $2,189 and Other CDOs

of $9 as of July 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

ABS, CMBS and 

weakness in th

declines in pro

did experience 

the month of J

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):  July 2009   

Submission date:  August 28, 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 July

our CMBS, RMBS and ABS did experience price improvements.  Net purchases were over $100 million in

ABS, CMBS, and RMBS securities for the month ending July 31, 2009.
TREASURY MONTHLY INTERMEDIATION SNAPSHOT

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

Reporting month(s):  July 2009   

Submission date:  August 28, 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 July 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 and loan participations.  Given the economic

environment, 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 July 31, 2009, Federal Trust Bank held $222 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 July, The Hartford was a net purchaser of marketable securities buying predominately

investment grade corporate credits of $1,075 million, offset by $370 million in sale transactions.  Other

meaningful sector transactions included tax‐exempt municipals ($118 million in net purchases), and

agency mortgage‐backed securities ($82 million in net purchases).  In the investment grade corporate

credit space, repositioning included net purchases in defensive sectors such as consumer non‐cyclicals

and utilities coupled with comparably riskier sectors such as capital goods, with reduced holdings to

those sectors sensitive to the continued pricing pressures seen in the real estate market.
2009

TREASURY MONTHLY INTERMEDIATION SNAPSHOT

Name of institution: JPMorgan Chase & Co Submission date: 8/31/09 

PART I. QUANTITATIVE OVERVIEW1,2

SCHEDULE A: CONSUMER LENDING (Millions $) MAY JUN JUL Key 1. First Mortgagea. Average Loan Balance (Daily Average Total Outstanding) $51,107.0 $50,182.7 $49,472.7 Consists of residential

warehouse loan balance

whole loans. Excludes assets classified as trading assets and other

s that are not part of the core mortgage portfolio.

b. Total Originations $13,777.1 $15,090.2 $14,763.6 Includes both loans originated for the balance sheet as well as loans originated for sale.

(1) Refinancings $10,726.9 $10,728.9 $9,087.4(2) New Home Purchases $3,050.2 $4,361.3 $5,676.1

2. Home Equitya. Average Total Loan Balance $90,433.5 $89,440.9 $88,421.7 First and second lien home equity loan and line balances.

b. Originations (New Lines+Line Increases) $183.2 $195.9 $169.0 Home equity loans funded, new lines committed, and increases to existing lines committed.

c. Total Used and Unused Commitments $138,022.7 $135,398.8 $132,650.5 Outstanding balances plus undrawn home equity line commitments.

3. US Card ‐ Manageda. Average Total Loan Balance ‐ Managed $147,068.9 $146,547.3 $145,346.4 Credit card includes con

balances.

sumer and small business credit cards. Excludes international

b. New Account Originations (Initial Line Amt) $3,378.3 $3,388.8 $3,231.7 Originations include initial line amounts for new cards but not line increases for existing

customers.

c. Total Used and Unused Commitments $704,612.0 $695,118.0 $687,113.0 Ending balance for Total Used and ending unfunded for Unused Commitments.

4. Other Consumer

a. Average Total Loan Balance $79,663.0 $79,199.5 $77,983.6 Consists of small busine

other consumer loans

ss loans and lines; auto loans, leases, and lines; student loans; and

and lines.

b. Originations $2,336.1 $2,586.5 $2,757.2 Includes small business loans funded, lines committed, increases to existing lines committed,

and renewals of existing commitments; auto loans originated, leases and lines funded or

committed, and increases to existing lines; student loans funded; and other consumer loans

funded and new lines committed.

1
3 M y d h C d Sc A d l e d e B mi h y cl d

SCHEDULE B: COMMERCIAL LENDING (Millions $) MAY JUN JUL Key 1. C & I

a. Average Total Loan and Lease Balance $162,396.5 $157,302.8 $148,988.2 Loans and Leases consis

Leases also exclude int

monthly average of the

Renewals consist of anyand New Commitments

Balances and new comm

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

erbank lending balances. Average is calculated using the simple

spot balances. CRE reported separately in Schedule B.2.

increases to existing facilities and extensions of maturities. Renewals

include funded and unfunded exposure.

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

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

into C&I.

b. Renewal of Existing Accounts $17,069.2 $14,004.9 $15,201.4 

c. New Commitments $9,972.1 $12,886.8 $9,204.2 

2. Commercial Real Estate

a. Average Total Loan and Lease Balance $21,897.9 $20,873.7 $20,511.6

$418.5 $838.2 $371.9

$530.6 $974.7 $495.9

Commercial Real EstateAll Other exposures roll

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

1. Small Business Loans3

a. Average Total Loan Balance $26,014.1 $25,910.8 $25,811.5 Consists of small business loans, lines of credit, and credit cards.

b. Originations $751.7 $955.9 $878.6 Includes small business loans funded, lines committed, increases to existing lines committed,

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

SCHEDULE D: OTHER INTERMEDIATION ACTIVITIES (Millions $)

1. MBS/ABS Net Purchased Volume

a. Mortgage Backed Securities $4,336.0 $1,350.0 $5,026.0 Only includes securities

Represents gross purchexcluded.

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

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

b. Asset Backed Securities $1,075.0 $719.0 $2,572.0 Only includes securities in the firm's investment portfolio.

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

a. Average Total Matched Book (Repo/Reverse Repo) $134,705.0 $138,444.1 $136,898.1 Includes Reverse Repo/

liabilities

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

b. Average Total Debit Balances $12,765.0 $12,565.1 $12,236.0 Reflects Net Debit Balances of margin loans included in customer receivables.

3. Underwriting

a. Total Equity Underwriting $26,641.0 $14,362.0 $10,388.0 Includes Bookrunner and Co‐manager transactions.

b. Total Debt Underwriting $61,380.5 $52,816.0 $20,992.0 Represents issue size where JPM was a lead, co‐lead or joint books. 

Notes:1. All numbers exclude acquired Washington Mutual balances.

2. Excludes overdraft activity and balances.

3. Memoranda: these loans are already accounte accounted for in Other Consumer onsumer and US Card figures in Schedule A, and include loans guarantee guaranteed by the Small Business Administration and/or other loans that are internally classified as small business business loans.

2
TREASURY MONTHLY INTERMEDIATION SNAPSHOT

Name of institution:  JPMorgan Chase & Co

Reporting month(s):  July 2009    

Submission date: August 31, 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 July consumer balances were down slightly from June (1% decline).  Total consumer originations

were also down slightly (2% decline) due largely to a decline in mortgage and credit card originations.  

Overall, consumer applications for credit were up in July.

• July mortgage originations continued at a high level despite a slight decrease from June.  Higher

refinance applications more than offset a decrease in new purchase applications.  Mortgage

approval rates were generally flat from June.  Meanwhile, home equity originations and

applications decreased from June as a result of macroeconomic factors such as home price

depreciation.  Home equity approval rates declined slightly from June.

• Credit card balances declined slightly (1% down) from June.  New account originations declined

5% compared to June originations as a result of lower application volumes.  Total commitments

were down 1% from June due to account closures and account charge‐offs.

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

consumer loans) increased from June, driven by higher volumes in Auto Finance and Student

Loans, offset by lower Business Banking originations.  Applications increased from June, as

higher Auto Finance and Student Loans applications more than offset lower application volume

in Business Banking.

B. Commercial Lending (C&I and CRE)

Total wholesale balances declined 5% between June and July, while total wholesale originations were

down 12% from June levels.

• Loan paydowns and sales of non‐retained loans contributed to the decline in C&I balances.

• Lower customer demand, particularly for working capital, continues to impact the overall levels of

commercial lending activity.  With capital markets opening up from the end of last year, clients are

turning to stocks and bonds for their capital needs rather than borrowing via bank loans.  
TREASURY MONTHLY INTERMEDIATION SNAPSHOT

Name of institution:  JPMorgan Chase & Co

Reporting month(s):  July 2009    

Submission date: August 31, 2009

Person to be contacted regarding this report: Adam Gilbert  

2

                                                           

• Lending also continues to be impacted by higher market pricing of credit risk in line with

deteriorating market and company‐specific financial conditions. Companies are opting to fund at

lower levels or not at all.

While there were no material changes in underwriting standards during the period, pricing and structure

continue to be adjusted to reflect the changing environment.

C. Small business lending1

Overall, small business balances were flat between June and July, while originations were down 8%.  July

originations and applications for small business loans and lines of credit decreased from June, while new

account originations for small business credit cards were down 11%.

D. Other intermediation activities

Gross MBS purchases for July were $8 billion while gross sales were $3 billion.  July ABS purchases were $3

billion and consisted of Credit Card ABS, Student Loan ABS, and CLOs.  Meanwhile, the Matched Book business

was steady in July and remained above Q109 levels, largely reflecting a gradual improvement in market

liquidity.

Equity underwriting volume declined from prior months but was still considered strong as equity

markets continued to rally through the July earnings season.  

On the debt side, the High Grade market slowed in July as many clients had taken advantage of capital‐

raising opportunities in prior months and have reduced funding needs in the second half of the year.

However, the High Yield market gained momentum in the second half of the month as investor demand for

new issuance exceeded supply.

E. Overall lending summary

JPMC extended more than $46 billion in new loans and lines to retail and wholesale clients during July,

including:

• Close to $21 billion in consumer and small business originations1

.  Consumer originations include

credit cards, mortgages, home equity loans and lines, student loans and auto loans, During July,

JPMC extended over 1.1 million new loans and lines to consumers and small businesses1, 2

.

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 ~214,000 credit card line increases extended during the time period
TREASURY MONTHLY INTERMEDIATION SNAPSHOT

Name of institution:  JPMorgan Chase & Co

Reporting month(s):  July 2009    

Submission date: August 31, 2009

Person to be contacted regarding this report: Adam Gilbert  

3

• Over $25 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 $8 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 on its delinquent loans

into the Administration's HAMP Program.  Through July, Chase has offered about 190,000 trial

modifications, approximately 117,000 of which were HAMP modifications.  From 2007 to the present, the

firm has helped to prevent 640,000 foreclosures in total, including the 190,000 trial modifications.
Name of institution: KeyCorp Submission date: 8/31/09 Person to be contacted about this 

PART I. QUANTITATIVE OVERVIEW

SCHEDULE A: CONSUMER LENDING (Millions $) MAY JUN JUL Key 1. First Mortgagea. Average Loan Balance (Daily Average Total Outstanding) $3,358 $3,346 $3,362 First Mortgage includes loans secured by 1‐4 family residential properties including home

equity loans secured by first liens.

b. Total Originations $159 $225 $206 Total Originations include both portfolio and held‐for‐sale loan originations.

(1) Refinancings $103 $164 $138(2) New Home Purchases $55 $61 $68

2. Home Equity

a. Average Total Loan Balance $8,354 $8,378 $8,377 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) $114 $106 $99c. Total Used and Unused Commitments $16,596 $16,569 $16,551

The decrease in July originations is attr

June. In July, application volume was d

2009

In July, application volume continued t

rates remained consistent.

TREASURY MONTHLY INTERMEDIATION SNAPSHOT

1

3. US Card ‐ Manageda. Average Total Loan Balance ‐ Managed $5 $5 $5 US Card ‐ Managed includes Credit Card loans.

b. New Account Originations (Initial Line Amt) $0 $0 $0c. Total Used and Unused Commitments $45 $45 $43

4. Other Consumer

a. Average Total Loan Balance $8,099 $7,962 $7,618 Other Consumer includes all other non‐revolving consumer loans.

b. Originations $25 $24 $21

Federally guaranteed student loans co

The majority of this portfolio consists o

Education and Indirect Home Equity, w

by these businesses.KeyCorp does not originate new credit 

acquired through a bank acquisition.

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

1. C & Ia. Average Total Loan and Lease Balance $32,962 $32,096 $31,394 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 $802 $1,625 $1,440 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 $429 $830 $658 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 $18,521 $18,451 $18,170 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 $593 $266 $641 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 $31 $94 $49 New commitments include outstanding balances and unused commitments. Commitment

amounts exclude standby letters of credit.

4. SMALL BUSINESS LOANS3

a. Average Total Loan Balance $3,596 $3,534 $3,481 Small Business includes loans guaranteed by the Small Business Administration ("SBA") and

other loans internally classified as small business loans.

b. Originations $36 $40 $42

July's borrower demand for credit was 

commitments totaled $658 million. Jul

million in the Leasing portfolio and $15

year. New client approval volume for S

June.Renewals of existing loans of $1.4 billio

down.Commercial Real Estate ("CRE") loan d

activities in CRE continue to be extend

refinancing options in the CRE market. 

high for the remainder of the year. Pri

space, with Fannie Mae, Freddie Mac, 

The volume of Small Business loan app

date high. New loan origination activit

remained strong in July, with $213 mill

in 2009.

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

2

SCHEDULE D: OTHER INTERMEDIATION ACTIVITIES (Millions $)

1. MBS/ABS Net Purchased Volume

a. Mortgage Backed Securities ‐$2,736 $4,421 $831 July MBS net purchased volume includes $994 million in purchases and $163 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 $231 $73 $32

b. Total Debt Underwriting $192 $188 $137

Investment grade bond spreads, as me

bps, from 131 bps on June 30, 2009 to 

corporations totaled just over $40.0 bi

The purchase of an additional $1 billio

supports KeyCorp's strategy for improv

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):  July 2009        

Submission date: 8/31/09

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

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

July 2008 levels, consistent with the trend experienced through the first half of this year.   Consumer

loan growth continued in the residential mortgage portfolio, while application volume declined slightly.  

Overall consumer application volume was seasonally weak.  Commercial lending activity in our Middle

Market segment reached a year‐to‐date high in July, while other business segments experienced flat to

slightly decreased lending volumes.

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

July typically begins a seasonal slowdown in consumer credit applications for KeyCorp.  Branch based

application volume declined approximately 4% in July from June.  Most of the decrease is attributable to

Home Equity applications, while application volume for loans that are not secured by real estate has

remained flat for the past few months.  Residential Mortgage application volume was down slightly in

July, but was at a level more than double that of July 2008.   

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

remained on pricing appropriately for current credit and liquidity risks.
TREASURY MONTHLY INTERMEDIATION SNAPSHOT

Name of institution:  KeyCorp

Reporting month(s):  July 2009        

Submission date: 8/31/09

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

2

C & I

Business demand for credit in July was well below that experienced in July 2008.  New Middle Market

commitments to both new and existing clients reached a high for the year, although most C & I lending

areas experienced new business volume that was in line with the year‐to‐date monthly averages.

Small Business loan application volume in July declined 34% from the June level, which places July’s

activity more in line with the 2009 year‐to‐date monthly average.  Demand for credit remained very

weak, while renewal activity remained strong due, in part, to seasonality. Applications for SBA loans fell

in July; however, we expect that SBA loan application volume will rebound as the SBA program

incentives gain momentum.  

Commercial Real Estate

There was no change in the trend for loan demand in the CRE segment during July.  The CRE market

outlook continues to be weak.

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

and refinancing options 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 its strategies for managing

interest rate and liquidity risk.  In July, the size of the investment portfolio increased, as KeyCorp

purchased an additional $1 billion of CMOs issued by government‐sponsored entities or GNMA.
Name of institution: Marshall & Ilsley Corporation Submission date: 7/31/2009 Person to be c

PART I. QUANTITATIVE OVERVIEW

SCHEDULE A: CONSUMER LENDING (Millions $) APR MAY JUN Key 1. First Mortgagea. Average Loan Balance (Daily Average Total Outstanding) $7,954 $7,973 $7,808 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 $416 $420 $368 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 $342 $335 $235(2) New Home Purchases $73 $85 $132

2. Home Equity

a. Average Total Loan Balance $2,757 $2,757 $2,749 Includes Home Equity Lines only.

b. Originations (New Lines+Line Increases) $68 $65 $78

Mortgage origin

application volu

environment's im

origination volu

2009

Home Equity ou

increases were u

TREASURY MONTHLY INTERMEDIATION SNAPSHOT

1

c. Total Used and Unused Commitments $5,099 $5,081 $5,063

3. US Card ‐ Managed

a. Average Total Loan Balance ‐ Managed $264 $267 $270 Includes Consumer Card only.

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

c. Total Used and Unused Commitments $1,395 $1,216 $1,233

4. Other Consumer

a. Average Total Loan Balance $1,850 $1,884 $1,911 Includes consumer PRA & LOCs. Subcategories include Auto Leases, Dealer Finance, Personal,

Securities Loans, and Student Loans.

b. Originations $89 $95 $100 Includes Additional Notes and Refinances to existing customers and notes to new customers.

M&I Dealer Fina

June by 227% or 

dollars originate

Average loan ba

increased 12% o

1
SCHEDULE B: COMMERCIAL LENDING (Millions $) APR MAY JUN Key 

1. C & Ia. Average Total Loan and Lease Balance $15,147 $14,921 $14,711 Includes A/R and Inventory, Dealer Commercial, Agricultural, IRB's and Muni, and Commercial

Leases.

b. Renewal of Existing Accounts $261 $219 $408 Renewals include renewal of existing accounts where new money is requested, terms are

modified, or new master line is established.

c. New Commitments $142 $124 $76 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 $21,221 $21,182 $21,003 Includes Business Purpose 1‐4 and Construction, Development, & Vacant Land (Commercial and

Residential).

b. Renewal of Existing Accounts $181 $56 $166 Renewals include renewal of existing accounts where new money is requested, terms are

modified, or new master line is established.

c. New Commitments $62 $33 $86 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 $3,564 $3,549 Includes SBA‐guaranteed loans and Business Loans & Commitments < $1 million to customers with

Revenue < $1 million. Excludes Letters of Credit.

Average balance

renewal season 

Average balance

development lo

Small business l

in new Commer

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

2

b. Originations $28 $27 $38SCHEDULE D: OTHER INTERMEDIATION ACTIVITIES (Millions $)

1. MBS/ABS Net Purchased Volume

a. Mortgage Backed Securities $0 $0 $0b. 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):  June 2009  

Submission date:  7/31/2009

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 $440 million of new credit to

new and existing customers in June for a total of over $3.8 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 September 30, 2009.  

In C&I, borrowing demand is down slightly across all markets.  Economic conditions have continued to

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

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

borrowings.  

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

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

decreased slightly in June reflecting less demand for CRE loan products as businesses continue to focus

on strengthening their balance sheets and downsizing.  

In Residential Real Estate, we are primarily utilizing secondary market options to effectively address the

increased demand for fixed rate mortgage originations, particularly refinances, and selectively using the

balance sheet for adjustable rate mortgages.  Mortgage originations decreased from May to June.  

June’s mortgage application volume also decreased from May to June.  Both decreases were primarily

driven by the rising rate environment’s impact on refinance activity.  Dealer Finance continued to

increase month‐over‐month in June due to reduced competition from the automaker’s captive finance

companies.  
Name of institution: Morgan Stanley Submission date: 8/31/2009 Person to be contacted a

PART I. QUANTITATIVE OVERVIEW

SCHEDULE A: CONSUMER LENDING (Millions $) MAY JUN JUL Key 1. First Mortgagea. Average Loan Balance (Daily Average Total Outstanding) $3,852 $3,758 $3,721 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 $81 $68 $23(1) Refinancings $79 $63 $19(2) New Home Purchases $2 $5 $4

2. Home Equity

a. Average Total Loan Balance $2,417 $2,382 $2,350 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

TREASURY MONTHLY INTERMEDIATION SNAPSHOT

For Consumer Lending, Mor

approximately $532mm of n

program. The program is int

residential or commercial re

2009

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 Consumera. Average Total Loan Balance $7,083 $7,436 $7,927 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 $444 $412 $532

Customers have increased t

Morgan Stanley is largely a 

card business.

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

1. C & Ia. Average Total Loan and Lease Balance $62,858 $67,297 $71,041 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 $1,320 $1,019 $312 This amount included in total (line a).

c. New Commitments $2,066 $3,190 $2,251 This amount included in total (line a).

2. Commercial Real Estate

a. Average Total Loan and Lease Balance $10,365 $10,018 $9,836 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 $2,885 $3,523 $3,903 Small Business Lending; amounts also included on Schedule A.4.; separate reporting on this

schedule beginning with 04/30/2009 report.

b. Originations $39 $179 $241

Commercial Real Estate lend

earnings, negative job grow

Customers have increased t

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

Morgan Stanley approved a

renewals/refinancings and n

2

g $ $ $

SCHEDULE D: OTHER INTERMEDIATION ACTIVITIES (Millions $)

1. MBS/ABS Net Purchased Volume

a. Mortgage Backed Securities $3,972 $9,136 ‐$1,730 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  ‐$23 $467 ‐$222 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 $131,920 $147,756 $169,113 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 $27,063 $30,299 $33,708 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 $10,297 $5,771 $7,175 Amounts are Fair Values.

Source: Thomson Tables

b. Total Debt Underwriting $22,727 $14,172 $5,268 Amounts are Fair Values.

Source: Thomson Tables

The month over month incr

In July, Morgan Stanley acte

underwriting participation w

Stanley's overall market sha

Morgan Stanley participated 

from 9.8% in the previous m

month of June.

In July, the MBS net long po

positions as compared to th

due to the desk selling some 

Notes:Amounts are in par commitments / notional at month‐end except where noted3. 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): July 31, 2009

Submission date:    August 31, 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 July, despite a brief selloff in the first week, equity and credit markets rallied

aggressively on top of better than expected economic data and earnings reports. The S&P 500

finished the month up 7.6% on a total return basis, constituting the third best July on record. The

unemployment rate ticked up to 9.6%, a clear negative, but manufacturing data continued to

indicate that the recession is moderating. In addition, both existing and new home sales were more

positive then anticipated, giving the market hope that a bottom in housing was near.  

• Credit markets also showed tremendous strength in July, following the lead of equity markets, and

continued the rally of the past three months. Investment grade and high yield bonds outperformed

Treasury bonds by 3.5% and 5.7%, respectively. For the year, investment grade and high yield credit

has now outperformed risk‐free assets by an impressive 16.4% and 39.9%, respectively. New

issuance slowed in July, with $39Bn in new investment grade corporate bonds coming to market,

compared to $60Bn in June.  

DEBT UNDERWRITING:

• In July, $91Bn of U.S. dollar denominated investment grade, high yield and government guaranteed

debt was issued, including self‐issuance, down approximately $54Bn from the previous month. On

its own, government guaranteed issuance was down 50% in the month as issuers took advantage of

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

volume was $5.3Bn for investment grade, high yield and government guaranteed issuers with a

market share of 5.8%, down from 9.8% in June.

• Total investment grade issuance, excluding self‐issuance, was $41.6Bn in July. Morgan Stanley

reopened the Trust Preferred market with a retail targeted issue for BB&T, and also led a $1.25Bn

debt offering for Gazprom in parallel with its 850MM Euro offering.  Morgan Stanley continued to

demonstrate its strong presence in the defense sector as well as in the taxable municipal market.

Lastly, Morgan Stanley led two of the month’s marquee transactions, a $1.4Bn debt IPO for

CareFusion and a $1.95Bn debt issuance for The Boeing Company.

• Total issuance in the high yield bond market was $17.2Bn in July, a slight increase from the previous

month.  The number of issues declined 31% vs. June, with Morgan Stanley acting as book runner on

two transactions.
TREASURY MONTHLY INTERMEDIATION SNAPSHOT

Name of institution: Morgan Stanley

Reporting month(s): July 31, 2009

Submission date:    August 31, 2009

Person to be contacted regarding this report: Fred Gonfiantini

2

EQUITY UNDERWRITING:

• In July, Morgan Stanley’s equity underwriting participation was $7.2Bn and its market share was

10.4%, up from 6.4% in June.

• Morgan Stanley acted as book runner on 19 transactions during the month of July, helping to raise

more than $27Bn on behalf of issuers including the two largest transactions in the month, a $16Bn

rights offering for Rio Tinto, a mining and exploration company, and a $6Bn secondary offering for

Mizuho Financial.

• Global equity issuance volume for July was 23% below June levels yet international issuance for  

non‐US issuers claimed the top 10 largest transactions for the month.  Secondary offerings continue

to dominate the new issue market, representing 80% of total issuance.

COMMERCIAL LENDING C&I:

• The multi‐year bank market has continued to advance at healthy levels with more borrowers having

access to the 3‐year bank market.    There were 23 commitment requests, all of which were

approved; however, one client request was subsequently withdrawn.  Morgan Stanley continued to

deploy its capital to a broad group of companies  ‐ approximately 80% of the relationship requests

were new lending relationships for the firm.    Activity in the high yield bank loan market has

continued at a robust pace following continued strength in the high yield bond market from June.

Additionally, event lending activity has shown some modest signs of improvement.

SMALL BUSINESS LOANS:

• Morgan Stanley has approximately $3.9Bn in credit facilities related to small business lending,

primarily directed to the firm’s securities based lending program which provides capital to small

businesses.

CONSUMER LENDING:

• In June, Morgan Stanley originated approximately $532MM of new credit facilities providing capital

to refinance or purchase residential or commercial real estate.  In addition, Morgan Stanley closed

$23MM in new residential loans.
Name of institution: Northern Trust Corporation Submission date: August 31, 2009 Person to be contacted 

PART I. QUANTITATIVE OVERVIEWSCHEDULE A: CONSUMER LENDING (Millions $) MAY JUN JUL Key 1. First Mortgagea. Average Loan Balance (Daily Average Total Outstanding) $8,183 $8,186 $8,158 All information is domestic and estimated based on a combination of internal and regulatory

reporting data.

b. Total Originations $99 $123 $103 All information is domestic and estimated based on internal reporting data. Purchased first

mortgages have been included as a source supporting mortgage availability.

(1) Refinancings $49 $71 $48(2) New Home Purchases $50 $52 $55 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 $2,677 $2,740 $2,767 All information is domestic and estimated based on a combination of internal and regulatory

reporting data.

b. Originations (New Lines+Line Increases) $74 $100 $72 All information is domestic and estimated based on internal reporting data. Renewals are

included.

c Total Used and Unused Commitments $4 778 $4 978 $5 004 All information is domestic and estimated based on a combination of internal and regulatory

Residential real estate loan

Average residential real est

refinancings decreased 32.4

2009

Average Home Equity balan

down 28% in July.

Approximately 50% of tota

TREASURY MONTHLY INTERMEDIATION SNAPSHOT

1

c. Total Used and Unused Commitments $4,778 $4,978 $5,004 All information is domestic and estimated based on a combination of internal and regulatory

reporting data.

3. US Card ‐ Managed

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

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

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

4. Other Consumer

a. Average Total Loan Balance $2,251 $2,271 $2,301 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 $153 $112 $116 All information is domestic and estimated based on internal reporting data. Renewals are

included.

Average total loan balance

during the same period. Ot

(i.e., personal lines of credi

Northern Trust does not ha

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

1. C & Ia. Average Total Loan and Lease Balance $11,541 $11,155 $10,744 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 $630 $910 $913 All information is domestic and estimated based on internal reporting data.

c. New Commitments $490 $326 $240 All information is domestic and estimated based on internal reporting data.

2. Commercial Real Estate

a. Average Total Loan and Lease Balance $3,252 $3,207 $3,282 All information is domestic and estimated based on a combination of internal and regulatory

reporting data.

b. Renewal of Existing Accounts $3 $24 $13 All information is domestic and estimated based on internal reporting data.

c. New Commitments $66 $72 $83 All information is domestic and estimated based on internal reporting data.

4. Small Business Loans3

a. Average Total Loan Balance $397 $392 $399 Initial request for data as of 4/30/09. All information is domestic and estimated based on a

combination of internal and regulatory reporting data.

$ $ $ / /

Average total loan and leas

down inventory levels and 

commitments decreased 26

Commercial real estate loa

commercial real estate loan 

decreased by 45.8% in July

Small business average loa

prior month.

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

2

b. Originations $31 $34 $33 Initial request for data as of 4/30/09. All information is domestic and estimated based on

internal reporting data.

SCHEDULE D: OTHER INTERMEDIATION ACTIVITIES (Millions $)

1. MBS/ABS Net Purchased Volume

a. Mortgage Backed Securities $165 $0 $0 All information is domestic and estimated based on internal reporting data.

b. Asset Backed Securities $0 $0 $0 All information is domestic and estimated based on internal reporting data.

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

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

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

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

b. Total Debt Underwriting $0 $38 $76 All information is domestic and estimated based on internal reporting data.

N t

Secured lending is not sepa

Northern Trust does not en

Northern Trust was the co‐

of the City of Peoria.

Timing of securities purcha

overall market condition. N

Sponsored Enterprises and 

Program.

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

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

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

2
TREASURY MONTHLY INTERMEDIATION SNAPSHOT

Name of institution:  Northern Trust Corporation

Reporting month(s):  July 2009   

Submission date:  August 31, 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 were down 13.5% in July 2009 when compared to June

2009.  This decrease reflects higher mortgage rates during the period, which led to lower demand.    

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 July 2009 Northern Trust decreased interest rates or modified residential mortgages totaling $102.9

million, an increase of 26.4%.  As part of this Program, a committee reviews all home mortgages with
TREASURY MONTHLY INTERMEDIATION SNAPSHOT

Name of institution:  Northern Trust Corporation

Reporting month(s):  July 2009   

Submission date:  August 31, 2009

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

2

payment problems in order to avoid preventable foreclosures.  These efforts provide for consistent and

equitable treatment with regard to modifications, extensions, or foreclosure (if deemed appropriate).

We have a very small number of foreclosures in progress nationally ‐‐ currently less than one quarter of

one percent of the total number of mortgage loans outstanding.    We have examined each situation

closely to confirm that appropriate options have been considered.

Deposit Growth:    Our deposit business continues to be strong with depositors of all types seeking

confidence through strength of the institution in addition to the guarantees of FDIC. Our domestic

deposits were $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: 8/28/09 Person t

PART I. QUANTITATIVE OVERVIEW

2009

SCHEDULE A: CONSUMER LENDING (Millions $) MAY JUN JUL Key 1. First Mortgagea. Average Loan Balance (Daily Average Total Outstanding) $21,893 $21,511 $21,162

b. Total Originations $2,166 $2,021 $1,550 First Mortgage originations in the table represent PNC purchases of loans originated by PNC

Mortgage, LLC, a 49.9% PNC owned joint venture with Wells Fargo.

(1) Refinancings $1,620 $1,370 $938(2) New Home Purchases $546 $651 $612

2. Home Equity

a. Average Total Loan Balance $37,023 $36,665 $36,597b. Originations (New Lines+Line Increases) $460 $517 $466c Total Used and Unused Commitments $57 932 $56 792 $57 056

TREASURY MONTHLY INTERMEDIATION SNAPSHOT

1

c. Total Used and Unused Commitments $57,932 $56,792 $57,056Note: Home Equity Installment Loans for legacy National City were under reported in lines b and c for Apr and May and have now been restated3. US Card ‐ Manageda. Average Total Loan Balance ‐ Managed $6,431 $6,613 $6,655

b. New Account Originations (Initial Line Amt) $286 $309 $248

c. Total Used and Unused Commitments $26,214 $26,290 $26,295

Note: New account originations were understated by $52 million in May and have been restated

4. Other Consumer

a. Average Total Loan Balance $11,823 $11,576 $11,678 Please note that beginning with May's report, NCC other revolving outstandings were taken out of

line 4a since they were earlier being double counted in lines 3a and 4a.

b. Originations $203 $233 $253

Line 3 represents credit cards and other revolving products exposure. Please note that beginning

with May's report, the data in line 3 was changed to ensure that unsecured revolving outstandings

and originations for legacy PNC were moved from line 4 to line 3, the originations in line 3b include

legacy NCC unsecured revolving products that were previously not reported, and line 3c include

PNC Unsecured Revolving lines.

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

1. C & Ia. Average Total Loan and Lease Balance $70,072 $66,686 $64,720b. Renewal of Existing Accounts $3,070 $5,227 $4,804

c. New Commitments $1,740 $2,394 $2,3552. Commercial Real Estate

a. Average Total Loan and Lease Balance $25,490 $25,227 $24,845b. Renewal of Existing Accounts $661 $763 $668

c. New Commitments $266 $284 $1734. Small Business Loans3

a. Average Total Loan Balance $12,456 $12,346 $12,230 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 $370 $389 $291SCHEDULE D: OTHER INTERMEDIATION ACTIVITIES (Millions $)

1. MBS/ABS Net Purchased Volume

a. Mortgage Backed Securities $1,051 $2,062 ‐$373 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 $116 $27 $1412. 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 $95 $71 $24

b. Total Debt Underwriting $355 $676 $508

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): July 2009   

Submission date: August 28, 2009

Person to be contacted regarding this report: Shaheen Dil

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. To that end,

PNC is continuing to make credit available to qualified borrowers including enhanced calling efforts on

small businesses and corporations, promotions offered with special financing rates and responding to

loan demand for first mortgages. PNC has reaffirmed and renewed loans and lines of credit, focused on

early identification of loan modification candidates and is working closely where appropriate with

customers who are experiencing financial hardship to set up new repayment schedules, loan

modifications and forbearance programs. In July 2009 PNC approved new and renewed commercial

loans of approximately $3.7 billion, down from $5.2 billion in June 2009 but in‐line with $3.7 billion in

May 2009, primarily due to decrease in renewals. Overall, PNC originated approximately $10.5 billion in

loans and commitments to lend in July, down from $11.7 billion in June.

First Mortgage

New mortgage applications in July were $1.7 billion, down 3% from June.  However, new purchase

money mortgage applications of $735 million represented a 25% drop from June as the residential real

estate market continues to suffer from unemployment and other challenging macroeconomic

factors.  Purchase money applications accounted for 44% of total July activity, down from 57% in June.  

According to the S&P/Case‐Shiller 20‐City Home Price Index, home values appear to be stabilizing

although any recovery is expected to be long and slow.

Overall July origination volume of $1.6 billion was down 23% from June, and based on recent application

volume trends, lower levels of production are expected to continue for the near term.   Conventional

loans originated for sale to Fannie Mae and Freddie Mac represented 62% of total, FHA/VA was 38%,

and purchase money mortgages of $600 million accounted for 39% of overall originations.   Fixed rate

mortgages accounted for 96% of July mortgage originations.

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

Program (HAMP) continues. National City Mortgage has processed 506 HARP applications for $104.8

million and 351 HARP loan refinances for $73.1 million have been funded. HAMP solicitation efforts

continue. 46,388 HAMP workout packages have been mailed to troubled borrowers, including active

foreclosure accounts. 92 HAMP trial modification offers have been extended to borrowers and 4

borrowers have started HAMP trial modifications.

1
TREASURY MONTHLY INTERMEDIATION SNAPSHOT

Name of institution: PNC Financial Services Group, Inc.

Reporting month(s): July 2009   

Submission date: August 28, 2009

Person to be contacted regarding this report: Shaheen Dil

Consumer Lending

Home Equity applications and loans booked decreased by 5.5% and 9% respectively in July compared to

June. Non‐equity application volume increased 11% and loans booked increased by 4.5%. Application

volume is trending flat for the month of August.

Activities related to assist borrowers during these difficult economic times continue to increase.

Extensive re‐training of staff continues, as we empower appropriate customer‐facing personnel to

initiate payment reduction programs at the initial point of contact with borrowers. Associates in

consumer operations will be trained and on‐point to provide distressed homeowners with a variety of

quality loan modification programs. Volume of customer assistance programs continue to increase with

year‐to‐date combined PNC and NCC loan modifications of 2,871 approved programs totaling $315

million.

Within the Distressed Assets portfolios, we continue to be prudently aggressive with respect to

opportunities to keep families in their homes.  We modified our Home Affordable Program to allow for

limited documentation to test customers in a Trial Modification. The home equity Home Affordable

Modification Program is expected to be operational on September 1 and we are currently reviewing the

details of the Second Lien Program that were received recently.

  

Third quarter loss mitigation effort added momentum to the implementation of the Home Affordable

Program.  The Collections Fortification project delivered strong results in July.  When compared to the

last month’s pre‐implementation, total delinquent dollars were down 10% as teams completed more

than 6 times the number of modifications.  The increase in modification volume was especially apparent

in the latest stages of delinquency.  

Loss mitigation palette enhancements being investigated include those that address the needs of the

self‐employed, an option to bridge second liens during first mortgage modification, and a program for

those without financial hardship. For the Construction loan portfolio, a debt‐to‐income modification

program has been reviewed by the Mortgage Company, Compliance and Legal and is in the process of

being implemented in the loss mitigation palette.    Other products are still being discussed and

submitted to the appropriate parties for review and approval.  We continue to expand the solution set

for the Residential Development portfolio.

  

Charge‐off analysis indicates an opportunity still exists to enhance contact strategy as well as increase

the volume of accounts considered for modification.    Plans are in place to launch a comprehensive,

multi‐media customer contact strategy to (1) more strongly engage customers pre‐default, (2) publicize

loss mitigation options and draw customers into discussion with the bank, (3) keep customers engaged

throughout the modification period and (4) transition out of modification.

US Credit Cards only (excluding other revolving exposure)

Total outstandings for the Credit card portfolio grew from a June balance of $3.97 billion to $4.02 billion

in July.  New account volume fell from June levels (down 24%).  Total accounts booked in July were 21.8

thousand, of which 17.3 thousand were new consumer accounts and 4.5 thousand were business card

2
TREASURY MONTHLY INTERMEDIATION SNAPSHOT

Name of institution: PNC Financial Services Group, Inc.

Reporting month(s): July 2009   

Submission date: August 28, 2009

Person to be contacted regarding this report: Shaheen Dil

accounts.  The average credit line granted for consumer cards was $9,432 while for business cards it was

$9,346.  Total credit line granted for the new accounts was lower in July at $205 million versus $253

million in June.  Total credit available is $24.1 billion for July, slightly higher than $24.0 billion in June.  

The branch network continues to be the main driver of new account activity for the Credit Card

portfolio.

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)

In July, Business Banking generated $131 million in new loan volume, including $12 million in SBA loans.  

The retail distribution system (branches) booked slightly over 900 new loans averaging $143,000 per

loan.  646 of these units were for loans less than $100,000 (average loan size of $38,000) – evidence that

money is getting to the smallest borrowers.

While PNC stands ready to lend to qualifying businesses, demand to borrow is down due to economic

conditions.  Application volume from our retail distribution system in July was 2,681 units, down 11% in

the PNC Legacy footprint and down 55% in the NCC Legacy footprint from the same period one year

earlier. In addition to new loan activity, PNC Business Banking continued to make funds available to

small businesses by reaffirming and renewing 2,037 loans and lines credit in July totaling over $159

million.   

To stimulate demand and help more small businesses, PNC has pre‐qualified small businesses, both

customers and prospects, and provided leads to our sales force to contact proactively for credit.  We are

offering working capital lines of credit for liquidity and term loans for capital expenditures, which

include a special promotion on secured term loans and owner–occupied commercial mortgages.  

Through this campaign, we have generated over $35 million in applications with an approval rate of

70%, twice the current through‐the‐door application approval rate.    The average size of loan

applications generated has been $120,000.

PNC offers special financing rates on ‘Green’ purpose loans, loans to businesses in Low‐ or Moderate‐

Income areas, and where new branches have been opened.    PNC has partnered with several local

government authorities to create special borrowing programs aimed at growing jobs and the economy.

PNC has chosen to participate in the SBA America's Recovery Capital Loan (ARC) program and rolled it

out in June. We have fielded hundreds of inquiries and have created a streamlined pre‐qualification

process. We are currently underwriting several applications and have approved a handful.   

Former National City Business Banking distribution received access to PNC’s liquidity and capital as of

Dec. 31, 2008, which allowed PNC to make more credit at lower rates available.  This was evidenced by a

reduction in published rates as soon as the acquisition was finalized.   

3
TREASURY MONTHLY INTERMEDIATION SNAPSHOT

Name of institution: PNC Financial Services Group, Inc.

Reporting month(s): July 2009   

Submission date: August 28, 2009

Person to be contacted regarding this report: Shaheen Dil

C&I

Despite the continued slowdown affecting almost all aspects of the US economy, PNC’s commercial

banking businesses continue to actively call in our target markets and have set 2009 sales goals that

meet and, in many cases, exceed 2008 sales goals. We remain keenly focused on providing credit to

qualified borrowers. During the first half of 2009 PNC 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. Our current focus in these markets is to continue actively

calling on clients and reassuring them that PNC is “open for business”. In addition to recovering more

than $1.5 billion of corporate deposits that were lost in 2008, we are now beginning to achieve some

success at selling certain PNC capabilities that can be delivered prior to conversion. In PNC’s legacy

markets, which are not significantly impacted by the acquisition, we remain highly focused in 2009 on

generating new sales across our entire product and service set. In fact, many of our commercial banking

businesses are substantially ahead of their sales goals for the first six months of this year and

substantially ahead of results achieved during the same period last year. In our calling efforts, 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. Recently, with public debt and

equity markets showing some resurgence, we are beginning to see clients access those markets to repay

shorter term bank debt.  In addition, we continue to see loan utilization rates fall as the working capital

needs of our clients 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 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

PNC remains 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 may 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. In most other areas of real estate, the slowdown in the overall market, coupled

with the substantial combined exposure of PNC and National City, as well as ongoing payoffs and

4
TREASURY MONTHLY INTERMEDIATION SNAPSHOT

Name of institution: PNC Financial Services Group, Inc.

Reporting month(s): July 2009   

Submission date: August 28, 2009

Person to be contacted regarding this report: Shaheen Dil

5

charge‐offs, suggests that aggregate loan balances will continue to decline for some time. Also, as loans

made in prior periods mature but can't be paid off due to lack of a viable refinancing market, PNC

continues to work with credit‐worthy borrowers to restructure and modify their loans. In many cases,

this results in loans remaining on our books and consuming capital that would have otherwise become

available to make new loans.  PNC also continues to provide real estate financing to credit‐worthy C&I

customers who have investment real estate financing needs where we have an opportunity to expand

an existing C&I relationship or acquire a new C&I relationship.

PNC also remains active in underwriting Economic Development Bonds, many of which require letters of

credit provided by PNC. (Increased interest in Recovery Zone Bonds is of particular note recently.)  These

transactions support investments in buildings and equipment and stimulate manufacturing

employment. PNC also continues to purchase Low Income Housing Tax Credits that provide equity for

the construction of low income housing projects. Once again, neither of these activities results in loans

on our balance sheet. However, 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: August 31, 2009 Person to be c

PART I. QUANTITATIVE OVERVIEW

SCHEDULE A: CONSUMER LENDING (Millions $) MAY JUNE JULY Key 1. First Mortgagea. Average Loan Balance (Daily Average Total Outstanding) $16,859 $16,841 $16,794 First and second residential 1‐4 family mortgages, including residential mortgages held for sale.

b. Total Originations $1,037 $1,100 $704 Loan originations designated for the secondary market and those to be held in portfolio on

Regions' balance sheet.

(1) Refinancings $812 $803 $419 Total originations designated as refinance status.

(2) New Home Purchases $225 $297 $285 Total originations designated as new purchase status.

2. Home Equity

a. Average Total Loan Balance $15,951 $15,856 $15,770 Average balances include Home Equity loans and HELOCs.

b. Originations (New Lines+Line Increases) $100 $129 $109 New Home Equity loans, lines and line increases.

The mortgage d

decreased 36% f

refinancing activ

increase of 2% f

refinanced unde

2009

Overall Home Eq

declined $42.0 m

paydowns in exc

typical seasonal 

overall when co

The decline in us

due to the value 

TREASURY MONTHLY INTERMEDIATION SNAPSHOT

1

c. Total Used and Unused Commitments $26,979 $26,758 $26,535 Total portfolio of Home Equity loans and funded and unfunded HELOCs. Funded portion included

in average balance above.

3. US Card ‐ Managed

a. Average Total Loan Balance ‐ Managed N/A N/A N/A NA ‐ 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 $4,580 $4,475 $4,374 Includes consumer direct, Indirect, other revolving (i.e., overdraft lines) and student loans held for

sale.

b. Originations $98 $114 $104 Includes direct and student lending origination activity.

July loan balanc

lending portfolio

the student lend

due to the value 

secured and/or 

1
SCHEDULE B: COMMERCIAL LENDING (Millions $) MAY JUNE JULY Key 

1. C & Ia. Average Total Loan and Lease Balance $22,596 $23,056 $23,078 Average outstanding funded balances (net of deferred fees and costs) for non‐real estate,

commercial related loans and leases.

b. Renewal of Existing Accounts $1,352 $1,774 $2,087 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 $1,189 $1,159 $954 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 $36,946 $37,194 $37,222 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 $1,590 $2,187 $1,658 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 $327 $446 $411 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 $14,811 $14,644 $14,478 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. These balances are

reflected as components of C&I, Commercial Real Estate and First Mortgage reported above.

In July, loan dem

Outstanding loa

credit were offs

commitments to

In July, new loan 

existing clients v

renew their loan

as appropriate. 

portfolio include

the sponsor, the 

Small businesse

are reluctant to 

small businesses 

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

2

b. Originations $628 $702 $617 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 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 $0 $982 $613 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 $793 $709 $761 Reflects average margin receivables as recorded on the general ledger

3. Underwriting

a. Total Equity Underwriting $159 $125 $25 Total equity underwriting activity. Represents Regions' participation percentage.

b. Total Debt Underwriting $1,167 $1,004 $566 Debt issuances delivered monthly. Represents Regions' participation percentage.

The equity capital 

participated in elev

the Real Estate Inv

We expect volume 

billion, $5.3 billion

Consists of 30 yeutilization rates 

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: Regions Financial Corporation

Reporting month(s):    July, 2009        

Submission date:  August 31, 2009

Person to be contacted regarding this report:  Irene 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 July, new and renewed commitments were down 12% to $6.0 billion and average balances were flat

with June at $97.2 billion.

Commercial Real Estate new commitments and renewals of existing accounts declined 21.4% versus

June to $2.1 billion.  The July decrease in renewed commitments ($1.7 billion) reflects typical month to

month fluctuation in volumes, as most commercial real estate loans are project based and renewal

activity is driven by the life cycle of each project.  Commercial and Industrial commitments were up

slightly to $3.0 billion.

Residential mortgage production originated loans totaling $704 million in July, which is a 36% decline

from June.   New home purchase originations decreased 4.2% from prior month, and refinancing activity

decreased 47.8%.  Average interest rates increased during the month of June which drove down June

applications and July closings, respectively.  Home Equity balances declined slightly (0.5%) to $15.8

billion reflecting portfolio paydowns and a decrease in new and renewed production.  New Home Equity

originations declined 15.4% to $109 million over June.  Other Consumer Lending balances showed a

decrease of 2.2 %( $4.5 billion in June to $4.4 billion in July).  New originations for Other Consumer were

down 8.5% over June ($114 million in June to $104 million in July).

III. Consumer Lending

A. Mortgage Lending

The mortgage division originated mortgage loans totaling $704 million in July of 2009.  Overall

production decreased 36% from the prior month.  New purchase originations decreased 4.2% from prior
TREASURY MONTHLY INTERMEDIATION SNAPSHOT

Name of institution: Regions Financial Corporation

Reporting month(s):    July, 2009        

Submission date:  August 31, 2009

Person to be contacted regarding this report:  Irene Esteves, Chief Financial Officer

2

month, and refinancing activity decreased 47.8% primarily due to an increase in average interest rates

during the month of June which drove down June applications and July closings, respectively.  

Application activity remained relatively flat with a slight increase of 2.0% from the month of June.

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 (not to exceed 105%). July’s originations included approximately $69 million related to

400 loans refinanced under the Home Affordable Refinance Program, which launched in April, 2009.

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 491

modification packages to eligible borrowers.  Given the program’s ninety‐day trial period, the first

modifications under this program were not expected to occur until July or August 2009.  In the month of

July, Regions completed 4 modifications totaling $553 thousand in unpaid principal balance.  Regions

currently services approximately $19.7 billion of Fannie Mae and Freddie Mac mortgages.

B. Home Equity Lending

Home Equity production declined 15% in July to $109 million as is the typical seasonal pattern. Home

Equity Lending continues to experience reduced production levels, down 80%, overall when 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 $86.3 million or 0.54% in July to $15.8 billion.  The HELOAN

portfolio declined $42.0 million, 2.1%, while HELOC balances declined $44.3 million, 0.32%, reflecting

portfolio paydowns in excess of new production.

C. Other Consumer Lending

Overall, Other Consumer Lending balances decreased 2.2% in July compared to June primarily as a result

of continued run‐off in the indirect lending portfolio.  July production decreased when compared to June

as a result of seasonality in the student lending portfolio.   

D. Customer Assistance Program

The overall goals of Regions’ Customer Assistance Program are to increase customer assistance, stem

foreclosure, and keep customers in their homes. Regions has taken steps including renegotiating the

terms of mortgages and home equity loans, keeping families in their homes.  Since inception of the
TREASURY MONTHLY INTERMEDIATION SNAPSHOT

Name of institution: Regions Financial Corporation

Reporting month(s):    July, 2009        

Submission date:  August 31, 2009

Person to be contacted regarding this report:  Irene Esteves, Chief Financial Officer

3

program, Regions has restructured more than $1.3 billion in mortgages, including $778 million July YTD

2009.  Regions has assisted more than 18,000 homeowners with solutions.

As part of our Customer Assistance Program, branch associates are pro‐actively calling higher risk, but

non‐delinquent, customers throughout our footprint to see if they need assistance.  Past due customers

are pro‐actively called by centralized foreclosure prevention teams.  A Customer Assistance DVD is being

mailed to our customers who cannot be reached by telephone or who have not responded to our

attempts to contact them.  A foreclosure prevention brochure is available in our branches,

regions.com/loanhelp provides detailed information related to foreclosure prevention, and Regions has

a partnership with the NeighborWorks Center for Foreclosure Solutions, a nonprofit organization that

provides financial and foreclosure counseling using nearly 200 NeighborWorks organizations throughout

the country.  This relationship also provides an additional toll‐free HOPE hotline number for customers

to contact that offers 24/7 assistance from certified housing counselors.  In addition, Regions helps

organize and participates in foreclosure prevention workshops organized by local community and

government groups.   

IV. Commercial Lending

A.  Commercial and Industrial Lending

Loan demand remained soft in July, as the stagnant economy continues to drive more conservative

leverage positions. Renewed commitments increased for the month, but new commitments were down.

Outstanding balances remained relatively flat, as fundings related to Variable Rate Demand Note letters

of credit were offset by reduced line utilization rates across all commercial segments.

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 188 bps from June.

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. Line utilization rates

continue to drop, driving the decline in outstanding balances. Loan pipelines ended July 2009 at 59% of

the prior year level, and are down 9% in July versus June.
TREASURY MONTHLY INTERMEDIATION SNAPSHOT

Name of institution: Regions Financial Corporation

Reporting month(s):    July, 2009        

Submission date:  August 31, 2009

Person to be contacted regarding this report:  Irene Esteves, Chief Financial Officer

4

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 July decrease in renewed commitments reflects typical month to month

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.  

In July, new loan demand remained low. Developers are reluctant to begin new projects or purchase

existing projects under current economic conditions.  Average loan balances were flat versus June.

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

Although the equity capital markets activity stalled in July, we are beginning to see an improvement in

activity for August. The follow‐on market continues to be active.  Although July only saw one IPO, the

buy‐side appears to have an appetite for new issues.  The REIT sector again appears the most active in

overnights while the IPO backlog and the follow‐on backlog are in various industry sectors, energy,

technology etc.  The Morgan Keegan underwriting volumes are down, which is consistent with the

issuance slowdown during typical of the summer months.  We expect volume to increase in mid‐August

and again in September. Gross debt issuance size for May, June, and July was $6.4 billion, $5.3 billion

and $4.8 billion respectively.  
Name of institution: STATE STREET CORPORATION Submission date: August 14, 2009 Person to be c

PART I. QUANTITATIVE OVERVIEW

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

State Street doe

consumer credit

2009

State Street doe

consumer credit

TREASURY MONTHLY INTERMEDIATION SNAPSHOT

1

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

3. US Card ‐ Managed

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

consumer creditState Street doe

consumer credit

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

1. C & Ia. Average Total Loan and Lease Balance $8,579 $9,927 $9,671 Composed of fund facilities, overdraft lines of credit, leases and lines of credit to insurance,

corporate and other borrowers.

b. Renewal of Existing Accounts $672 $976 $838 Primarily composed of renewals of customer credit facilities net of reductions, including

expirations.

c. New Commitments $396 $263 $140 Primarily composed of credit facility commitments to fund customers.

2. Commercial Real Estate

a. Average Total Loan and Lease Balance $660 $658 $658 Composed of loans acquired from certain customers pursuant to indemnified repurchase

agreements.

b. Renewal of Existing Accounts $0 $3 $2

c. New Commitments $0 $0 $04. SMALL BUSINESS LOANS3

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

Average C&I out

the assets and li

paper programs 

net of reduction

customer reque

months ended J

billion and $1.21

approved and cl

been approved a

The decreases in 

loans we purcha

collateral repurc

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

2

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

1. MBS/ABS Net Purchased Volume

a. Mortgage Backed Securities ‐$1,557 ‐$1,812 $4,209 Amount reported represents gross purchases net of gross sales, on a settlement date basis,

reduced by principal pay‐downs.

b. Asset Backed Securities  ‐$361 ‐$311 ‐$648 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

billion of mortga

sales, maturities 

and $1.049 billio

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):  July 2009

Submission date:  August 14, 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
TREASURY MONTHLY INTERMEDIATION SNAPSHOT

Name of institution: STATE STREET CORPORATION

Reporting month(s):  July 2009

Submission date:  August 14, 2009

Person to be contacted regarding this report: Stefan Gavell

2

ultimately, to give our customers’ customers – citizens with savings ‐ the ability to access their

investments when needed. Since State Street’s business model and customer base differ significantly

from traditional commercial and investment banks, its use of the capital received under the CPP

necessarily was different. Accordingly, much of State Street’s application of the additional funding

capacity created by the CPP capital was directed at maintaining and facilitating the functioning of the

securities settlement process, in which we play a central role due to our custodial services, and

providing funding when necessary to our customers, which is the focus of our business in managing and

servicing cash pools, including money market funds, collateral pools or similar mandates.

After we received the CPP capital, we determined that the use of the funding that most directly

reflected our role in the financial markets was to increase the level of available credit and liquidity that

we provide to our fund customers, consisting of mutual fund, retirement fund and other institutional

investors. In November 2008, State Street's Asset and Liability Committee set a target to increase credit

facilities by $2 billion to these customers. Since October 1, 2008, $3.802 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 July 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 $8.694 billion of gross credit facility renewals that have been approved since

October 1, 2008, of which $8.423 billion were to fund customers and $271 million were to insurance and

corporate customers. These credit facilities provide consistent credit support to our existing customer

base. Of these renewals, $1.218 billion were approved in July 2009, all of which went to fund customers.

State Street continues to help its core institutional investor customer base in difficult and volatile

markets by increasing our credit facilities and providing short‐term liquidity to support settlement

activities and increased redemption requests that can place considerable liquidity strains on these

customers. While the amount of credit extended will fluctuate with financial market conditions and the

unique circumstances of these institutional investors, State Street’s provision of credit enhances

investors’ ability to adopt a more normalized investment policy despite unexpected levels of cash

demands for redemption or settlement purposes.  

Average C&I outstandings 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. Although the average

outstandings have increased in recent months they 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 July 2009, were $6.024 billion, down from their peak of $19.6 billion during
TREASURY MONTHLY INTERMEDIATION SNAPSHOT

Name of institution: STATE STREET CORPORATION

Reporting month(s):  July 2009

Submission date:  August 14, 2009

Person to be contacted regarding this report: Stefan Gavell

3

October 2008. As noted above, since October 1, 2008, we have approved approximately $4.052 billion in

new or increased credit facilities to our fund customers, exceeding our target of $2.0 billion.  

During the reporting period of May 1, 2009 through July 31, 2009, we purchased approximately $4.726

billion of mortgage‐ and asset‐backed securities, including $4.610 billion in July 2009. Maturities, run‐off

and sales of such securities totaled approximately $5.206 billion, including $1.049 billion in July 2009.

The net purchases of mortgage‐backed securities in July 2009 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 $908 million, including $5 million in July 2009.
Name of institution: SunTrust Banks, Inc. Submission date: 8/31/09 Person to be c

PART I. QUANTITATIVE OVERVIEW

SCHEDULE A: CONSUMER LENDING (Millions $) MAY JUN JUL Key 1. First Mortgagea. Average Loan Balance (Daily Average Total Outstanding) $35,952 $35,942 $35,560 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 $5,471 $6,255 $5,162 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 $4,218 $4,438 $3,369(2) New Home Purchases $1,253 $1,817 $1,793

2. Home Equity

a. Average Total Loan Balance $18,483 $18,338 $18,214 Average balance, originations, and commitments include both Home Equity Lines and Home Equity

Loans.

b. Originations (New Lines+Line Increases) $144 $147 $142

Originations dec

by a decline in r

due to pay down

2009

Home equity or

balances.

TREASURY MONTHLY INTERMEDIATION SNAPSHOT

1

c. Total Used and Unused Commitments $35,125 $34,767 $34,491

3. US Card ‐ Managed

a. Average Total Loan Balance ‐ Managed $995 $991 $991 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) $10 $16 $10 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 $3,661 $3,647 $3,610 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 $12,158 $12,154 $12,053 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 $345 $401 $376

Both origination

declined from Ju

significantly oveNew account or

implementation

Commitments g

provider natura

party service pro

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

1. C & Ia. Average Total Loan and Lease Balance $39,303 $38,715 $36,931 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 $1,061 $1,462 $2,075 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 $1,147 $881 $1,160 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 $24,667 $24,576 $24,423 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 $340 $377 $226 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 $251 $306 $226 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 $5,563 $5,547 $5,507 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

and term loan b

actions begun in 

increased over J

Commercial rea

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

2

of $5 million or less.

b. Originations $75 $91 $46SCHEDULE D: OTHER INTERMEDIATION ACTIVITIES (Millions $)

1. MBS/ABS Net Purchased Volume

a. Mortgage Backed Securities $0 $1,012 $5 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 $0 $108 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 $92 $583 $11 Includes total dollars allocated to STRH in equity underwriting transactions that settled within the

reporting period.

b. Total Debt Underwriting $336 $770 $549 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

grade debt unde

SunTrust purcha

in asset‐backed 

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):  July 2009   

Submission date: 8/31/09

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 July, including loans held for sale, totaled $128.2 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 July, total new loan originations, commitments, and renewals extended to all

borrowers totaled $9.4 billion, a decrease of 4.8% from the June 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; however, the extension of credit facilities increased during July, partially offsetting the

broader trend of debt pay downs.   

Consumer Lending

Mortgage originations totaled $5.2 billion during July, representing a 17.5% decrease from June, but a

73% increase over July 2008.  Relative to June, average mortgage balances decreased 1.1%, while the

average balance of mortgage loans held for sale decreased 6.7% to $5.8 billion.  Loans funded for new

home purchases decreased 1.3% and refinance closings also declined 24% from June levels.  

During July, new home equity line and loan production within the SunTrust footprint decreased slightly  

compared to recent months, and July application volume remained significantly lower than one year

ago.  The continuing decline in home market 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):  July 2009   

Submission date: 8/31/09

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 in July 2009 compared to June; however, commercial account originations decreased $6 million.

Other consumer loans are primarily composed of student, auto, and other consumer loans.  July

fundings for indirect auto, student, and other consumer loans decreased 6.2% from June.  However,

loan demand continued to improve as the number of July indirect auto applications grew 4.5% over June

2009, and was only 2.6% less than the total for July 2008.

Commercial Lending

Average Commercial and Industrial loan balances decreased approximately 4.6% in July to $36.9 billion.  

Most of the decline occurred in large corporate revolving lines of credit as clients sought to reduce

outstanding debt.  $1.2 billion in new commitments and funded loans during July represented an

increase of 32% over June.  Renewals of existing credit facilities totaling $2.1 billion represented an

increase of 42%, or $279 million, over June renewals.   

Average Commercial Real Estate loans decreased fractionally to $24.4 billion compared to the June

average.  New residential home builder loan demand was negligible and demand was lower for

commercial development projects as property values trended downward and reported investment

activity declined.  Owner occupied commercial loans secured by 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 July, the average loan balance was $5.5 billion, down

0.7% from June.  July originations totaled $46 million representing almost a 50% decrease from June as

loan demand from qualified businesses continued to be weak.
TREASURY MONTHLY INTERMEDIATION SNAPSHOT

Name of institution:  SunTrust Banks, Inc.

Reporting month(s):  July 2009   

Submission date: 8/31/09

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 July 2009, SunTrust added $108 million of asset backed securities.

The total debt underwritings declined in July to a total of $549 million versus $770 million in June.  The   

balance of July underwriting included $298 million in high‐grade fixed‐income issues, $201 million in

municipal debt issues, and $50 million in high‐yield fixed‐income offerings.
Name of institution: U.S. Bancorp Submission date: August 31, 2009 Person to be c

PART I. QUANTITATIVE OVERVIEW

SCHEDULE A: CONSUMER LENDING (Millions $) MAY JUN JUL Key 1. First Mortgagea. Average Loan Balance (Daily Average Total Outstanding) $36,607 $37,141 $38,228 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 $5,102 $6,304 $6,703 Includes both loans originated for the balance sheet as well as loans originated for sale.

(1) Refinancings $3,799 $4,533 $4,394 Includes both loans originated for the balance sheet as well as loans originated for sale.

(2) New Home Purchases $1,303 $1,770 $2,309 Of the originations during the month, the amount that was for new home purchases.

2. Home Equity

a. Average Total Loan Balance $19,331 $19,341 $19,331 Home equity includes all 1‐4 family open end revolving and closed end junior liens.

b. Originations (New Lines+Line Increases) $499 $549 $491 Originations include the loan amount for closed end junior liens and the line amount for open‐end

revolving.

TREASURY MONTHLY INTERMEDIATION SNAPSHOT

Includes both lo

refinancing cont

originations of p

2009

Overall demand 

1

c. Total Used and Unused Commitments $35,109 $35,094 $35,113 Ending balance for Total Used and Ending unfunded for Unused Commitments.

3. US Card ‐ Managed

a. Average Total Loan Balance ‐ Managed $14,275 $14,702 $14,808 Credit card includes consumer credit cards only.

b. New Account Originations (Initial Line Amt) $851 $763 $648 Originations include initial line amounts for new cards but not line increases for existing

customers.

c. Total Used and Unused Commitments $73,051 $73,246 $73,905 Ending balance for Total Used and Ending unfunded for Unused Lines.

4. Other Consumer

a. Average Total Loan Balance $29,013 $28,514 $27,946 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 $751 $909 $817 Originations during the month of the above mentioned products.

Demand for aut

Credit Card bala

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

1. C & Ia. Average Total Loan and Lease Balance $52,584 $51,970 $51,005 Commercial loans include loans to depository institutions, agricultural loans to others than

farmers, commercial and industrial loans, leases, loans to finance RE not secured by RE, and all

other loans (i.e. State and Political and tax exempt.)

b. Renewal of Existing Accounts $3,513 $4,949 $4,995 Renewal of existing accounts represents the commitment balance.

c. New Commitments $2,820 $2,974 $2,213 New commitments issued during the month for either new or existing customers.

2. Commercial Real Estate

a. Average Total Loan and Lease Balance $37,531 $37,430 $37,219 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 $874 $1,549 $1,424 Renewal of existing accounts represents the commitment balance.

c. New Commitments $327 $382 $574 New commitments issued during the month for either new or existing customers.

4. Small Business Loans3

a. Average Total Loan Balance $12,252 $12,259 $12,345 Includes C&I, Commercial Real Estate, SBA guaranteed loans and credit cards for small businesses

already included above.

New loan dema

overall construc

No significant ch

month.

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

Decline in line u

2

b. Originations $500 $682 $511 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 $163 ‐$33 $1,144 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):  July 2009   

Submission date:  August 31, 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 July 2009, overall demand for loans continued to decline

for new commercial and commercial real estate loans.  Total commercial loans declined 1.9 percent

when compared to June 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 2.9

percent, while originations of mortgages were up 6.3 percent when compared to June 2009.  Consumer

loan balances decreased during the month, as well as loan originations for the month, driven mostly by a

decline in auto loans and leases.

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 July was high due to the

favorable interest rate environment concluding with over $6.7 billion in originations.  Refinance activity
TREASURY MONTHLY INTERMEDIATION SNAPSHOT

Name of institution:  U.S. Bancorp

Reporting month(s):  July 2009   

Submission date:  August 31, 2009

Person to be contacted regarding this report: Anthony D. Kelley

2

was high during the month, representing 66% of new originations, but was lower than 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 $106 million.  The Bank's portfolio is primarily a prime portfolio and lending criteria for

new accounts has remained consistent with that standard.  During July 2009, the Bank experienced

consistent application volume with new account originations compared to prior month decreased.

            

Consumer Loans:  Overall demand for new loans remained stable in the consumer loan portfolio.  

Demand for home equity decreased during the month when compared to the prior month.  Demand for

new auto loans and leases also decreased during the month and revolving credit demand was relatively

flat.  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: August 27, 2009 Person to be c

PART I. QUANTITATIVE OVERVIEW

SCHEDULE A: CONSUMER LENDING (Millions $) MAY JUN JUL Key 1. First Mortgagea. Average Loan Balance (Daily Average Total Outstanding) $267,922 $264,986 $261,770 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 $42,091 $45,074 $40,369(1) Refinancings $32,554 $33,499 $27,913 Reflects portion of loan originations to refinance existing mortgage loans.

(2) New Home Purchases $9,537 $11,575 $12,456 Reflects portion of loan originations used for new home purchases.

2. Home Equity

a. Average Total Loan Balance $129,027 $128,170 $127,142 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) $576 $613 $607 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

June 2009. New 

2009

Average balance

were $607 millio

TREASURY MONTHLY INTERMEDIATION SNAPSHOT

1

c. Total Used and Unused Commitments $227,814 $225,700 $223,626 Reflects aggregate funded and unfunded loan commitments at the end of the period.

3. US Card ‐ Managed

a. Average Total Loan Balance ‐ Managed $22,989 $23,105 $23,305 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) $1,221 $1,225 $1,341 Reflects newly established accounts.

c. Total Used and Unused Commitments $105,695 $105,722 $105,008 Reflects aggregate funded and unfunded loan commitments at the end of the period.

4. Other Consumer

a. Average Total Loan Balance $85,614 $84,726 $89,393 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 $1,721 $1,931 $2,193 Reflects newly funded other consumer loans (non‐revolving) and consumer leases, and new

commitments on other credit plans (except credit cards) during the period.

July Other Consu

Total Other Con

U.S. Card origina

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

1. C & Ia. Average Total Loan and Lease Balance $182,274 $177,943 $186,412 Reflects average balance of loans to U.S. banks and depository institutions, agricultural loans,

domestic commercial and industrial loans, all other loans, and domestic leases consistent with

lines 2.a, 3, 4.a, 9.a, 9.b and 10.b. on Form FR Y‐9C.

b. Renewal of Existing Accounts $10,292 $13,407 $12,397 Reflects renewal of loans and commitments to current customers during the period.

c. New Commitments $6,865 $7,328 $6,637 Reflects new commitments during the period.

2. Commercial Real Estate

a. Average Total Loan and Lease Balance $136,352 $136,208 $134,172 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 $2,592 $2,505 $2,518 Reflects renewal of loans and commitments to current customers during the period.

c. New Commitments $2,325 $1,332 $956 Reflects new loans and commitments during the period.

4. Small Business Loans3

a. Average Total Loan Balance $78,139 $77,257 $76,838 Reflects average balances of small business lending activity including SBA loans and credit cards

issued to small business customers included in categories above.

Renewals of exis

million for the m

Loan origination

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

2

b. Originations $2,372 $2,894 $2,609 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 $7,742 $26,638 ‐$16,384 Reflects purchases of mortgage backed securities, net of sales activity.

b. Asset Backed Securities  ‐$509 $1,800 $183 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 $3,760 $3,829 $3,837 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 $2,284 $831 $201

b. Total Debt Underwriting $5,007 $6,765 $5,634

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):  July 2009   

Submission date:  August 27, 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 $41 billion for July 2009.  Refinance activity

remained strong, accounting for approximately 68% of July originations.  First Mortgage applications

were $41 billion for the month.  The Company’s mortgage application pipeline was $71 billion at the end

of July.  Due to the size of the unclosed pipeline at the end of the month, solid funding activity is

expected to continue into August.     

U.S. Card and Other Consumer

New credit card account originations were $1.3 billion for July 2009, consistent with $1.2 billion in June.  

Credit card applications were approximately 633,000 in July.  Other consumer loan originations were

$2.2 billion for the month, including $1.5 billion for auto loans and $587 million of education loans.     

Commercial and Commercial Real Estate

Renewals of existing commercial accounts totaled $12.4 billion for July 2009.  Commercial new loan

commitments were $6.6 billion for the month.  Commercial real estate lending activity for July 2009

included $2.5 billion of renewals of existing accounts and $956 million in new loan commitments.  

Originations to small businesses were $2.6 billion for the month.

  

Other Intermediation Activities

Debt and equity underwriting totaled $5.8 billion for July 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.