Name of institution: CIT Group Inc. Submission date: June 30, 2010 

PART I. QUANTITATIVE OVERVIEW

SCHEDULE A: CONSUMER LENDING (Millions $) MAR APR MAY 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

2010

TREASURY MONTHLY INTERMEDIATION SNAPSHOT

1

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

3. US Card ‐ Managed

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

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

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

4. Other Consumer

a. Average Total Loan Balance $9,570 $9,341 $9,007 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

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

1. C & Ia. Average Total Loan and Lease Balance $34,007 $33,006 $32,009 Included in the C & I asset balances is approximately $10.9 Billion of operating leases

b. Renewal of Existing Accounts $2,419 $2,169 $2,062 The Renewal of Existing Accounts is predominately from our Trade Finance business.

c. New Commitments $320 $352 $335 The bulk of our new commitments were generated from Global Vendor Finance.

2. Commercial Real Estate

a. Average Total Loan and Lease Balance $261 $259 $254 Some of our other businesses‐ Small Business Administration lending, and Energy financing, m

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 $0

4. Small Business Loans3

a. Average Total Loan Balance $1,078 $1,107 $1,141 

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

2

g 

b. Originations $10 $12 $11SCHEDULE 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/A

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

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

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

a. Total Equity Underwriting N/A N/A N/Ab. Total Debt Underwriting 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 loa

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):  May 2010

Submission date:  June 30, 2010

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

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.

Transportation Finance – Business Aircraft

May corporate jet data shows results indicative of a stable market and in line with previous results

continuing from Q1 2010.  This recent plateau follows increases in industry data over eight prior

quarters, going back to late 2008.  While this data continues to reflect a stable market, a straight up

measure of absolute business conditions improved substantially in May, following last month’s decline.  

This indicates a slight increase in overall market conditions since the prior quarter.  General market

consensus continues to reflect improving customer interest and a strong 12‐month outlook, although it

is still weighed down by very high used inventory levels exceeding 12% of available fleet.  Pricing in most

models is off 30‐40% from peak levels and while the decline has moderated, indications still show a

modest downtrend.  Overall, resellers of newer model used aircrafts cited a declining willingness to add

to their inventories this time, reflecting skepticism around near‐term pricing/liquidity.  Despite the

continuous improvement in the market, buyer’s interest/outlook continues to be significant oversupply

on the used market, particularly in small and midsize aircraft, which will continue to negatively impact

new aircraft orders.  Newer aircraft inventories continue to show a significant oversupply of high quality

young used aircraft.  Financing availability continues to reflect a steady incremental improvement but

with very limited market participants.  Flight operations have stabilized after showing their highest levels

in 20 months.  This growth in flight activity is a strong indicator of improvement in the overall corporate

aircraft market, although on an uneven trend.

Transportation Finance – Commercial Aircraft

The aircraft lease market appears to be improving modestly from very low levels, as air passenger and

freight traffic recovers from the temporary dip in passenger traffic caused by the volcano ash cloud in

Europe in April and May.  As in previous months, CIT continues to experience pressure on margins,

reflecting lower lease rates on new deliveries and newly remarketed aircraft.  CIT is focused on optimal

deployment of assets, maintenance of critical relationships and executing on opportunities for profitable

growth.  Commercial air revenues remained strong for May as a result of high asset utilization.   

Transportation Finance – Rail Cars

While market conditions have stabilized (weekly rail loadings have improved), weak car loadings and

improved train speeds have resulted in significant excess capacity in the rail network; approximately

24% of the North American fleet is being stored as carriers and shippers continue to reduce costs and
TREASURY MONTHLY INTERMEDIATION SNAPSHOT

Name of institution:  CIT Group Inc

Reporting month(s):  May 2010

Submission date:  June 30, 2010

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

2

rationalize fleet size.  In this market environment, the goal for many leasing companies is to sacrifice

rate to keep rail cars on lease to mitigate storage and freight charges, as well as position the fleet for

industry turn around.   

Leveraged Finance (relative to the Transportation Sector)

The leveraged finance transaction flow in our core aerospace and transportation markets is showing

signs of a significant increase across the spectrum of deal types: acquisition‐related, re‐financings and

dividend recapitalizations.  The increase in merger and acquisition loans has been particularly strong.   

Weakness remains in certain CIT portfolio accounts that are tied to commercial airline servicing which in

some sectors lags the increase in commercial airline activity.  The leveraged loan market has become

more active as the high yield bond market has been negatively impacted by the global credit market

decline caused in large part by the weakness in Europe.  High yield bond spreads have increased to a

point where senior loans for core middle market issuers look relatively more attractive for the first time

in several months.

Corporate Finance / Loan Syndication

After a strong performance during the first four months of 2010, the leveraged loan market experienced

a correction during the month of May 2010 driven by a combination of headline news, such as reports

about Europe’s fiscal debt problems, and technical conditions in the loan market in particular.  The

leveraged loan market in May was characterized by an increased supply of new loans, a rise in all‐in new

issue spreads, more conservative loan structures, falling secondary prices, declining returns and

declining default rates.   

Total leveraged loan volume during May was $24.3 billion, up from an average of $17.4 billion over the

first four months of 2010 but slightly less than the $26.2 billion issued in April.    

Against this increasing supply backdrop, demand has become more selective given the decrease in

repayment rates and softer conditions in the high‐yield market. Repayments in May fell to a 4‐month

low of $9.9 billion, from $11.9 billion in April and from an average of $10.6 billion from January through

March. New‐issue high‐yield volume fell in May to a 14‐month low of $9.2 billion, from $30.3 billion in

April and from an average of $23.8 billion a month in the first quarter, leaving less cash in investors’

coffers. With 36% of high yield bond proceeds issued YTD May 2010 used to refinance bank debt, the

high yield market slowdown has negatively impacted the leveraged loan market.  

New issue spreads, as a result, widened out to approximately 6.0% ‐ 7.0%% during May, depending on

issuer quality, compared to the 5.0% ‐ 5.5% all‐in yields enjoyed by issuers during April. Conditions in the

market have caused issuers to find new clearing prices, which were found through a combination of

incremental spread, upfront fees as well as prepayment fees. Moreover, the supply‐demand imbalance
TREASURY MONTHLY INTERMEDIATION SNAPSHOT

Name of institution:  CIT Group Inc

Reporting month(s):  May 2010

Submission date:  June 30, 2010

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

3

allowed investors to be more selective. Only issuers with a strong story that includes ratings, yield, size

and purpose tested the market.   

The middle market, which typically lags the broader market, experienced a decline in volume in May to

$1.1 billion compared to $1.4 billion in April and an average of $1.2 billion during the first four months

of 2010.  Middle market new issue spreads widened as well, although more modestly than the broader

market, from roughly 7% in April to about 7.5% in May, with the final clearing price dependent here on

the credit story and purpose. For smaller club‐type transactions, however, the market was less affected

by technical conditions, as new issue all‐in spreads ranged from 6.0% ‐ 6.5%, as pricing at this end of the

market is oftentimes a function of ancillary business offered to banks, the typical club investor.

Trade Finance

Conditions in the marketplace have changed somewhat from the previous month; loan demand from

our continuing client base is down compared with last year and demand from new clients has

significantly decreased.  Loan pricing has been coming down and after the return to higher standards

that we have commented on for a number of months, we have seen a loosening of terms and structures

(i.e. loan documentation, covenants and collateral perfection).  

   

Vendor Finance

CIT’s Vendor Finance’s “VF” lending levels are up as economic conditions remain soft.  Overall economic

conditions continue to contribute to soft sales by our vendor partners.  

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

VF type products and services.  CIT’s May volume increased 3% versus April primarily driven by taking

market share, as vendor sales remain soft.  Softness in volume seen in Europe and Latin America and in

the Tech and Communications space.

CIT’s losses (charge offs + specific reserves) decreased 26% in May compared to April.  The slow down

on restructure requests from customers continued in May and early stage delinquency trends continue

to be stable and continue to improve in the majority of the regions.

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

the following:

• Canada – While the economy performed better than anticipated in the last quarter of 2009 with

real GDP growth of 5% (annualized rate), the 2010 outlook is for moderate growth of 3% ‐3.5%.

This moderation is due to changes in drivers of the current growth namely personal

expenditures and investment in residential structures. The elimination of a Federal home

renovation tax credit in January could negatively impact consumer spending.   The current

strength of the Canadian dollar will allow industries to purchase updated technology, however
TREASURY MONTHLY INTERMEDIATION SNAPSHOT

Name of institution:  CIT Group Inc

Reporting month(s):  May 2010

Submission date:  June 30, 2010

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

4

due to Canada's reliance on the USA, its largest trading partner, our recovery will be directly

impacted by the demand from them for our products. The unemployment rate remains

unchanged at 8.1%, although still high by pre‐recession standards.  A stabilized unemployment

rate at the beginning of Q1 and an increase in exports in comparison to imports are positive

signs for 2010 GDP growth.

• Latin American – While the overall regional economy contracted by 1% in 2009, the anticipation

is for GDP growth of about 2.5% in 2010 according to forecast by Moody’s. Brazil is forecasted to

top the region with the highest GDP growth for the period at 5.5% ‐6.5 %. Growth in Brazil is

mainly the result of recoveries experienced in the commodities market and an increase in

domestic demand. The resulting inflationary concerns caused by the this growth pattern

sparked the intervention of the Brazil central bank which tightened monetary policy in Q1 by

increasing minimum reserve requirements by 2% and is anticipated to increase interest rates in

Q2. Even Mexico which experienced a 6.7 % decline in GDP for 2009 heavily impacted by

economic contraction in U.S. is forecasted to for GDP growth of about 3%‐4% in 2010 as

outlined by a recent S&P report. This growth is based on the improvement in the U.S economy

(Mexico’s largest export market) and a better pricing benchmark for Crude Oil (Mexico’s largest

export) among others. Credit availability and liquidity are improving in all Latin American

markets where we operate. In Chile, the earthquake will impact the economy short term; it is

expected to pick up in Q4 2010 and early 2011.

• Europe UK –  Core European Countries (UK, Germany, France) are now showing GDP growth in

1Q10 of 0.3%, 0.2% & 0.1% respectively. Eurozone overall 0.2% (excl UK) growth in 1Q10. EU's

economic size in terms of total GDP matches the US's at 20% of global GDP.   The Eurozone debt

remains high with all breaching Euro convergence rules (Govt debt <60% of GDP and annual

Govt. deficit < 3% of GDP). Greece is the worst offender at 115.1% of GDP and a deficit of 13.6%

of GDP. Italy's debt as a % of GDP is 115.6% and Spain’s deficit of GDP is 11.2%; Germany is

73.2% & 3.3%, and UK 68.1% & 11.5%.  The Eurozone unemployment is high ‐ 10%. UK &

Germany both 7.3%, Spain is the worst at 19.1%.  

• US ‐ US economic conditions continue to recover, however at a slow pace. Impact form EU

Credit crisis on the US economy is of concern. Unemployment remains high at 9.7% and recent

jobless figures show new claims increased unexpectedly in recent weeks. Consumer sentiment

continues to be weak although slightly improved from earlier in the year. Unlike previous

recessions, it is unlikely that the US Consumer will lead the recovery due to high unemployment,

reductions in income and net worth. However Business spending has improved with businesses

investing in new equipment and technology. April industrial output increased 0.7% followed by

1.2% in May. Manufacturing output in particular rose 0.9% in May, its third consecutive monthly

gain of about 1%, and was 7.9% above its year‐earlier level. The stock markets while down from

2010 highs reached in April, remain up more than 55% from the lows seen in March 2009.  At

the April Federal Open Market Committee meeting the Federal Reserve announced rates would

remain at low rates as inflation remains tame and short term GDP growth will be low. The CEO

Confidence Index and the Composite of Leading Economic Indicators and Semi conductor
TREASURY MONTHLY INTERMEDIATION SNAPSHOT

Name of institution:  CIT Group Inc

Reporting month(s):  May 2010

Submission date:  June 30, 2010

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

5

demand continue the improvement we have seen over the last several quarters. Clearly the

recovery continues, but not as quickly or as robustly as in the past.

Small Business Lending

In May the volume of loans funded dropped from levels reached in April. This partially reflects the

reduction in applications in April some of which would have been converted to funded loans in May. It is

also indicative of CIT’s ongoing market reentry and transition intended to target higher credit quality

transactions.

For the second consecutive month, the overall confidence level of small business owners edged higher

in May according to several national surveys. The confidence level, however, remains near historical

lows and may decline if the economic recovery flounders.

General creditworthiness of small businesses is weak but improving. Many small businesses have ceased

operations thereby reducing competition for the remaining establishments. Alternatively, lower retail

sales in May following several months of gains, are a negative indicator for small business prospects.  

The SBA secondary market is providing liquidity to lenders. Pricing for the guaranteed portion of 7(a) is

attractive to sellers and to investors seeking low risk assets. In addition, the administration’s $30 billion

Small Business Loan Fund proposal was passed by the House of Representatives.

Estimates of retail sales, which influence many small businesses, fell 1.2% from April indicating weakness

in consumer spending despite continued improvement in consumer confidence. At the same time,

unemployment was down marginally in May. It appears that the economy is generally expanding but

there is conflicting data from month‐to‐month. Consistent and broad based economic expansion is

needed to stimulate small business growth.

Consumer Lending

Q2 losses are tracking at 57% of the Q1 losses on improved collection effectiveness on our career loans

and graduate loans.  The Consumer unsecured portfolio continues to liquidate quickly and finance

receivables are now below $80M. The charge‐off and delinquency numbers continues to show a positive

trend month over month and we expect the trend to continue.  

  
Name of institution: Citigroup Submission date: June 30, 2010 Person to be c

PART I. QUANTITATIVE OVERVIEW

SCHEDULE A: CONSUMER LENDING (Millions $) MAR APR MAY Key 1. First Mortgagea. Average Loan Balance (Daily Average Total Outstanding) $129,446 $127,074 $125,184 Consists of residential whole loans. Excludes assets classified as trading assets that are not part of

the core mortgage portfolio.

b. Total Originations $3,905 $3,214 $3,085 Originations includes new loans whether for refinancing of an existing home or the purchase of a

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

terms and not additional extensions of credit.

(1) Refinancings $2,098 $1,813 $1,811 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 $438 $463 $444

2. Home Equity

a. Average Total Loan Balance $58,408 $57,778 $57,109 Includes HELOC and 2nd mortgages.

b. Originations (New Lines+Line Increases) $104 $72 $59 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.

End of period fir

and held for inv

decreased due t

Home equity loans 

and are included in 

mediation efforts a

who have contacte

deemed to be at ri

mediation efforts. 

2010

TREASURY MONTHLY INTERMEDIATION SNAPSHOT

1

c. Total Used and Unused Commitments $73,887 $72,961 $72,286

3. US Card ‐ Managed

a. Average Total Loan Balance ‐ Managed $128,317 $126,917 $125,613 Balances do not include commercial card activity.

b. New Account Originations (Initial Line Amt) $5,057 $5,121 $5,652

c. Total Used and Unused Commitments $736,088 $730,389 $723,590

4. Other Consumer

a. Average Total Loan Balance $70,003 $69,429 $68,463 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 $818 $792 $756

Average balance

Originations are 

Purchase sales w

established duri

1% to prior mon

programs; total 

ups in May.

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

1. C & Ia. Average Total Loan and Lease Balance $45,212 $45,335 $20,221 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 $3,472 $2,213 $1,602

c. New Commitments $3,466 $1,769 $1,3672. Commercial Real Estate

a. Average Total Loan and Lease Balance $23,813 $23,176 $22,411 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 $112 $89 $77

c. New Commitments $1,416 $68 $128SCHEDULE C: MEMORANDA ‐ SMALL BUSINESS LENDING (Millions $)

4. Small Business Loans3

a. Average Total Loan Balance $9,569 $9,446 $9,367

New commitme

Average balance

Average Total Lo

commitments w

2

b. Originations $84 $56 $80SCHEDULE D: OTHER INTERMEDIATION ACTIVITIES (Millions $)

1. MBS/ABS Net Purchased Volume

a. Mortgage Backed Securities ‐$3,699 ‐$5,636 ‐$5,911 Does not include maturities and pay downs. Net Purchased Volume is reported using cost basis.

b. Asset Backed Securities $929 ‐$675 ‐$481

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

a. Average Total Matched Book (Repo/Reverse Repo)1 $168,200 $156,341 $150,756 Average Total Matched Book (Repo/Reverse Repo) is before FIN 41 netting. Includes security

lending activity.

b. Average Total Debit Balances2 $14,932 $15,053 $14,790

3. Underwriting

a. Total Equity Underwriting $50 $63 $55 Equity Underwriting represents Citi's portion of underwritten issue.

b. Total Debt Underwriting $14,684 $12,083 $6,491 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.

Industry stats inclu

1. 34 High Yield de

2. 174 Investment 

3. 69 Equity and Lin

Volume declined 

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

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

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

2
TREASURY MONTHLY INTERMEDIATION SNAPSHOT

Name of institution:    Citigroup

Reporting month(s):    May 2010   

Submission date:    June 30, 2010

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, CitiFinancial, CitiMortgage and Citi Cards.   

All data cited below reflect comparisons to April 2010, unless otherwise noted.

Consumer Lending:  Citi originated $9.6 billion in new loans to U.S. consumers and small businesses in

May, up nearly 4 percent from the prior month.  Further improvement in the U.S. economy and

moderate job growth contributed to a moderate decline in unemployment to 9.7 percent, from 9.9

percent in April.

In May, first mortgage loan originations totaled $3.1 billion, down 4 percent from April.  Average

mortgage loan balances were $125.2 billion, declining 2 percent month‐to‐month.  Average balances

were impacted by decreases in both investment loans and “held for sale” loans.  

Average home equity loan balances were $57.1 billion, a decline of 1 percent from April.  Used and

unused commitments totaled $72.3 billion, a month‐to‐month decline of 1 percent.

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

homeowners facing financial difficulty to modify their loans.  Through initiatives like the Citi

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

Home Affordable Mortgage Program, Citi modified approximately 15,800 first mortgage and home

equity loans with a total value of approximately $2.8 billion in May.

In May, Citi issued new credit card lines totaling $5.7 billion, an increase of 10 percent from April.  

Purchase sales rose 3 percent from April, but were down 12 percent compared with May 2008.  Average

total card balances declined 1 percent from April to $125.6 billion.

Card members continued to participate in Citi’s expanded eligibility forbearance programs in May.  

More than 125,000 card members enrolled in these programs during the month, compared with

129,000 in April.  Total balances covered by Citi’s forbearance programs increased less than 1 percent on

a month‐to‐month basis, and rose 30 percent from the prior year period.

Originations in other consumer lending categories decreased 5 percent to $756 million, reflecting

seasonal decreases in student loan disbursements.
TREASURY MONTHLY INTERMEDIATION SNAPSHOT

Name of institution:    Citigroup

Reporting month(s):    May 2010   

Submission date:    June 30, 2010

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

2

Commercial Lending:  In May, Citi originated $9.7 billion in corporate loans, down 40 percent compared

with April.

New Commercial & Industrial (C&I) loan commitments totaled $1.4 billion, decreasing 23 percent from

April.  New loan commitments reflected lower month‐to‐month mergers and acquisitions activity.  Loan

renewals in May totaled $1.6 billion, compared with $2.2 billion in the prior month.  Renewals were

down due to the change of accounting standards covering consolidations.  Average total C&I loan

balances were $20.2 billion, or 55 percent lower than April balances.   

New Commercial Real Estate (CRE) loan commitments were $128.5 million, an increase of nearly 89

percent from April due to new letters of credit.  Loan renewals totaled $76.6 million, a decrease of 14

percent month‐to‐month.  Average total CRE loan and lease balances were $22.4 billion, down 3 percent

from April.   

Other Intermediation Activities:  Citi recorded net sales of $6.4 billion in mortgage‐ and asset‐backed

securities (MBS/ABS) in May.  As in the prior month, MBS activity reflected a decrease in customer

demand for agency bonds.

Citi’s total debt underwriting was $6.5 billion in May, a decrease of 46 percent month‐to‐month

reflecting lower average principal per deal and lower deal volumes.  High yield underwriting activity

included 34 deals totaling $11.7 billion, compared with 77 transactions with a cumulative value of $31.9

billion in April.  Citi lead managed 7 high yield deals with an aggregate value of $934 million.  In May, Citi

also participated in 174 investment grade transactions with an aggregate value of $49.8 billion,

compared with 144 deals totaling $37.8 billion in April.  Citi lead managed 17 of these transactions with

a total value of $6.1 billion.  Citi participated in 69 equity and linked deals with an aggregate value of

$11.1 billion in May, compared with 76 deals totaling $18.6 billion in April.  Citi lead managed 18 of

these deals with a total value of $1 billion.   
Name of institution: Fifth Third Bancorp Submission date: June 30, 2010 Person to be c

PART I. QUANTITATIVE OVERVIEW

SCHEDULE A: CONSUMER LENDING (Millions $) MAR APR MAY Key 1. First Mortgagea. Average Loan Balance (Daily Average Total Outstanding) $10,175 $10,136 $10,160 Average balance consists of 1‐4 family residential mortgage loans consistent with the classification

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

b. Total Originations $1,527 $1,359 $1,192(1) Refinancings $1,084 $856 $671(2) New Home Purchases $443 $503 $521

2. Home Equity

a. Average Total Loan Balance $11,652 $11,628 $11,567 Average balance consists of HELOC and HELOAN accounts consistent with the classification of the

FR Y9C report.

b. Originations (New Lines+Line Increases) $104 $119 $76

Total origination

activity and $52

Fifth Third also e

2010

TREASURY MONTHLY INTERMEDIATION SNAPSHOT

1

c. Total Used and Unused Commitments $19,576 $19,772 $19,689

3. US Card ‐ Managed

a. Average Total Loan Balance ‐ Managed $2,155 $2,138 $2,125 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) $74 $79 $77

c. Total Used and Unused Commitments $11,910 $11,957 $11,916

4. Other Consumer

a. Average Total Loan Balance $10,655 $10,574 $10,522 Average balance consists of auto and other consumer loans and leases consistent with the

classification of the FR Y9C report.

b. Originations $458 $375 $384

Other consumer 

increase of appr

May new credit 

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

1. C & Ia. Average Total Loan and Lease Balance $27,807 $27,678 $27,525 Average balance consists of non‐real estate commercial loans and leases consistent with the

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

b. Renewal of Existing Accounts $2,550 $1,472 $1,782 Includes renewed funded loans and renewed commitments.

c. New Commitments $3,668 $1,980 $1,612 Includes new commitments both funded and unfunded

2. Commercial Real Estate

a. Average Total Loan and Lease Balance $17,169 $16,948 $16,843 Average balance consists of real estate secured commercial loans consistent with the classification

of the FR Y9C report.

b. Renewal of Existing Accounts $964 $350 $534 Includes renewed funded loans and renewed commitments.

c. New Commitments $288 $86 $148 Includes new commitments both funded and unfunded

4. Small Business Loans3

a. Average Total Loan Balance $5,141 $5,077 $5,032 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.

Small Business c

million in April 2

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

New C&I commi

2010. Renewal 

billion.New CRE comm

Renewal levels f

2

b. Originations $372 $246 $259SCHEDULE D: OTHER INTERMEDIATION ACTIVITIES (Millions $)

1. MBS/ABS Net Purchased Volume

a. Mortgage Backed Securities $0 ‐$60 $0 Consists of MBS purchases less sales for the month.

b. Asset Backed Securities $0 $0 $0 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 $356 $1,123 $355

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

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

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

2
TREASURY MONTHLY INTERMEDIATION SNAPSHOT

Name of institution:  Fifth Third Bancorp

Reporting month(s):  May 2010   

Submission date:  June 30, 2010

Person to be contacted regarding this report: Blane Scarberry

1

PART II.  QUALITATIVE OVERVIEW

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

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

standards and terms, and any other intermediation activity.

Commercial sections

CRE:  Average CRE balances decreased by approximately 0.6% in May 2010 compared to April 2010.  

New CRE commitments originated in May 2010 were $148 million, compared to $86 million in April

2010.  Renewal levels for existing accounts increased in May 2010 to $534 million versus April 2010 at

$350 million.  Payments and dispositions of troubled CRE outpaced the volume of renewals and new

originations in May causing the overall balances to continue to decline.  As commercial vacancy rates

continue to increase, Fifth Third continues to monitor the CRE portfolios and 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 feel this is prudent given that we do not believe added

exposure in those sectors is warranted given our expectation for continued elevated loss trends in the

performance of those portfolios.

C&I:  Average C&I balances decreased by approximately 0.6% in May 2010 compared to April 2010.  New

C&I commitments originated in May 2010 decreased to $1.61 billion compared to $1.98 billion in April

2010.  Renewal levels for existing accounts in May 2010 of $1.78 billion were up from April 2010 at

$1.47 billion.  Lending in the Commercial segment continues to qualified borrowers exhibiting average

risk or better.  Continued emphasis is placed on prudent underwriting and demonstrated ability to repay

as well as industry segment.  Loan inquiries have begun to slowly increase, but we are continuing to see

caution from our C&I customers as they attempt to gauge the actual strength of the recovery which to

this point has been influenced by geography.   Business investment growth has begun to increase

however not all of that investment requires debt financing.  In general, customers continue to remain

deleveraged and liquid through reduced inventories versus expanding operations and purchasing

equipment.   

The primary market for syndicated credit and large corporate deals has seen a modest increase in 2010.  

Given a cautionary outlook for the economy and uncertainty in global markets, many companies

continue to defer plans for significant capital expenditures and inventory build, which in turn has

reduced the need for large, new financing.  Financing for merger and acquisition activity has continued

to remain relatively slow.  Terms and covenants continue to be somewhat tighter than usual, which has

also served to constrain demand.  Credit spreads have narrowed somewhat in recent months, including
TREASURY MONTHLY INTERMEDIATION SNAPSHOT

Name of institution:  Fifth Third Bancorp

Reporting month(s):  May 2010   

Submission date:  June 30, 2010

Person to be contacted regarding this report: Blane Scarberry

2

the non‐investment grade rating categories, which could favorably impact volume if spreads continue to

fall.

Small Business:  Average Small Business balances decreased by approximately 0.9% in May 2010

compared to April 2010.  Small Business commitments originated in May 2010 were $259 million, which

was up slightly from $246 million in April 2010.  Demand for Small Business credit has been in a

relatively stable range with a slight bias to run off over new production.  Business Banking loan

originations continue to be made using prudent underwriting standards.     

Overall, average total commercial loan and lease balances were down 0.6% in May 2010 compared to

April 2010.  We continue to actively work out problem loans and receive principal payments from

borrowers, which more than offset new loan volume in the month of May 2010.   

Consumer section

Consumer:  May 2010 overall loan volume for non‐mortgage consumer credit (home equity, credit card

and auto) was down compared to April 2010 given decrease in credit card and home equity demand.

May 2010 mortgage lending continued to be driven by attractive interest rates.  Total originations for

the month totaled approximately $1.2 billion driven by $671 million of refinancing activity and $521

million of new home purchases.  We also extended $76 million of new home equity lines of credit during

the month.

May new credit card extensions were $77 million, a slight decrease from our $79 million of extensions in

April.  Other consumer loan originations, which include new car loans, were $384 million in May.  This

was an increase of approximately $9 million from April.   

During the month of May, Fifth Third continued to monitor the need for prudent adjustments to

consumer lending standards, consistent with peer institutions as reported by the Federal Reserve and as

observed in the market.      

In May of 2010, Fifth Third’s portfolio of consumer loans and leases was flat relative to April 2010.   

Treasury section

There was no purchase or sale activity in ABS or MBS during the month of May.
Name of institution: KeyCorp Submission date: 6/30/10 Person to be c

PART I. QUANTITATIVE OVERVIEW

SCHEDULE A: CONSUMER LENDING (Millions $) MAR APR MAY Key 1. First Mortgagea. Average Loan Balance (Daily Average Total Outstanding) $3,076 $3,085 $3,058 First Mortgage includes loans secured by 1‐4 family residential properties including home equity

loans secured by first liens.

b. Total Originations $152 $142 $141 Total Originations include both portfolio and held‐for‐sale loan originations.

(1) Refinancings $90 $69 $65(2) New Home Purchases $62 $73 $76

2. Home Equity

a. Average Total Loan Balance $8,330 $8,316 $8,316 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) $83 $83 $80

TREASURY MONTHLY INTERMEDIATION SNAPSHOT

Loan application 

Demand for Hom

spring promotio

2010

1

c. Total Used and Unused Commitments $16,263 $16,236 $16,209

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 $9,784 $9,485 $9,358 Other Consumer includes all other non‐revolving consumer loans.

b. Originations $20 $13 $9

Loan application 

all products.

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

1. C & Ia. Average Total Loan and Lease Balance $25,510 $24,994 $24,556 C & I includes lease financing receivables, commercial and industrial loans, agricultural loans, loans

to depository institutions and other nonconsumer loans.

b. Renewal of Existing Accounts $1,028 $1,149 $1,005 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 $440 $513 $514 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 $15,028 $14,792 $14,462 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 $560 $374 $410 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 $21 $23 $11 New commitments include outstanding balances and unused commitments. Commitment

amounts exclude standby letters of credit.

4. Small Business Loans3

a. Average Total Loan Balance $3,147 $3,125 $3,104 Small Business includes loans guaranteed by the Small Business Administration ("SBA") and other

loans internally classified as small business loans.

CRE new loan de

be extending an

market. Manage

refinancing activ

financing these a

In May, KeyCorp 

volume. In May, 

May remained st

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

Overall, commer

level, loan appro

Bank segments e

2

b. Originations $59 $74 $51SCHEDULE D: OTHER INTERMEDIATION ACTIVITIES (Millions $)

1. MBS/ABS Net Purchased Volume

a. Mortgage Backed Securities $342 $921 $531 May mortgage backed securities ("MBS") net purchased volume includes $831 million in purchases

and $300 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 $41 $137 $167 Represents KeyCorp's equity underwriting commitments.

b. Total Debt Underwriting $412 $179 $230 Represents KeyCorp's taxable and municipal debt underwriting commitments.

KeyCorp was the 

compared to the 

six deals totaling 

were high yield. 

The purchase of 

May supports Ke

y 

lending volume f

renewals totaled 

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):  May 2010

Submission date:  6/30/10

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

consolidated total assets of approximately $95 billion at March 31, 2010.  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.  The Community Banking group serves consumers and small to mid‐sized

businesses through the company's 14‐state branch network, which is organized into three internally

defined geographic regions:  Rocky Mountains and Northwest, Great Lakes, and Northeast.  The National

Banking group includes those corporate and consumer business units that operate nationally, within and

beyond KeyCorp's 14‐state branch network, as well as internationally.     

General

While Commercial Real Estate (“CRE”) and Consumer loan demand remains weak, KeyCorp continued to

experience a slight improvement in credit demand in our Commercial Lending (“C & I”) portfolios,

notably in the  Middle Market, Leasing, and Institutional lending segments.

   

Consumer

Underlying consumer credit demand continues to be weak as loan application volumes declined rapidly

following KeyCorp’s spring lending promotions in March and April.  All consumer lending products

experienced declining application volumes in May to levels 18% below the year‐ago levels.   

There were no material changes in KeyCorp’s underwriting standards in May.

C & I

C & I new loan approval volume continues to improve at a modest pace.  The Middle Market segment

experienced its strongest month in over 18 months with over $350 million in loan approvals to new and

existing clients.  Loan approvals in the Institutional, Business Banking, and Leasing portfolios improved

from the May 2009 approval levels.  Leasing new loan approvals totaled $258 million in May 2010.      

Commercial Real Estate

Overall real estate loan demand remained nominal during May, with new originations declining to their

lowest monthly level since the monthly TARP reporting began.  The CRE market outlook continues to be

weak.  New originations were concentrated in the Middle Market, Business Banking, and Community

Development Lending portfolios.   
TREASURY MONTHLY INTERMEDIATION SNAPSHOT

Name of institution:  KeyCorp

Reporting month(s):  May 2010

Submission date:  6/30/10

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

2

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

refinancing options available in the CRE market.  Renewal volume increased slightly to $410 million from

the April level of $374 million.  Approximately $333 million of the May renewal volume was attributable

to performing commercial and multifamily development projects for which refinancing options remain

constrained.  For CRE development projects, KeyCorp has created a fixed‐rate 3‐5 year loan program to

modify and extend qualifying loans for existing customers.  In the Institutional CRE portfolio, most real

estate investment trusts (“REITs”) have issued additional equity and reduced debt levels over the last

several quarters, allowing their credit lines to be modified and extended.   

Small Business

May represented KeyCorp’s third straight month of year‐over‐year improvement in the amount of new

loan approvals.  In total, loan approvals are up 38% from the same year‐to‐date period in 2009.   As

previously noted, small businesses are continuing to show signs of investing in their owner‐occupied real

estate.  SBA lending remains strong.  SBA year‐to‐date loan approvals are 88% higher than the same

period last year.  Loan approvals to companies with sales of over $1 million have improved to levels

experienced prior to 2009.   

Investment Portfolio

KeyCorp continues to use the securities available‐for‐sale portfolio to support strategies for managing

interest rate risk and liquidity.  In May, KeyCorp increased the size of its investment portfolio with the

purchase of an additional $831 million of collateralized mortgage obligations issued by government‐

sponsored entities.
Name of institution: Marshall & Ilsley Corporation Submission date: 06/30/10 

PART I. QUANTITATIVE OVERVIEW

SCHEDULE A: CONSUMER LENDING (Millions $) MAR APR MAY Key 1. First Mortgagea. Average Loan Balance (Daily Average Total Outstanding) $6,736 $6,714 $6,637 Includes all closed end residential RE; First Mortgages and Home Equity Loans (Approximately 

of Home Equity Loans are held in first position). This excludes construction and vacant land lo

which are included in the Commercial Real Estate section as average loan balances.

b. Total Originations $192 $192 $173 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 lo

which are included in the Commercial Real Estate section as new commitments.

(1) Refinancings $123 $99 $83

(2) New Home Purchases $69 $93 $90

2. Home Equity

a. Average Total Loan Balance $2,685 $2,664 $2,648 Includes Home Equity Lines only.

b. Originations (New Lines+Line Increases) $63 $65 $66

TREASURY MONTHLY INTERMEDIATION SNAPSHOT

2010

c. Total Used and Unused Commitments $4,857 $4,827 $4,803

3. US Card ‐ Managed

a. Average Total Loan Balance ‐ Managed $274 $278 $276 Includes Consumer Card only.

b. New Account Originations (Initial Line Amt) $6 $6 $6c. Total Used and Unused Commitments $1,303 $1,305 $1,289

4. Other Consumer

a. Average Total Loan Balance $1,996 $1,984 $1,956 Includes consumer PRA & LOCs. Subcategories include Auto Leases, Dealer Finance, Personal

Securities Loans, and Student Loans.

b. Originations $74 $65 $62 Includes Additional Notes and Refinances to existing customers and notes to new customers.

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

1. C & Ia. Average Total Loan and Lease Balance $12,569 $12,359 $12,352 Includes A/R and Inventory, Dealer Commercial, Agricultural, IRB's and Muni, and Commercia

Leases.

b. Renewal of Existing Accounts $68 $127 $106 Renewals include renewal of existing accounts where new money is requested, terms are

modified, or new master line is established.

c. New Commitments $51 $68 $73 Includes New Loans to New Customers and Unused Commitments to C&I (Also includes Unus

Commitments to: Finance Agricultural Production and Other).

2. Commercial Real Estate

a. Average Total Loan and Lease Balance $18,889 $18,566 $18,326 Includes Business Purpose 1‐4 and Construction, Development, & Vacant Land (Commercial a

Residential).

b. Renewal of Existing Accounts $54 $39 $43 Renewals include renewal of existing accounts where new money is requested, terms are

modified, or new master line is established.

c. New Commitments $54 $23 $39 Includes New Loans to New Customers and Unused Commitments for CRE (Also includes Unu

Commitments to: New Construction, Land Development and Other Land; Farmland; 1‐4 Fami

Residential Properties; Multi‐Family (5 or more) Residential Properties).

4. Small Business Loans3

a. Average Total Loan Balance $3,342 $3,309 $3,281 Includes SBA‐guaranteed loans and Business Loans & Commitments < $1 million to customers 

Revenue < $1 million. Excludes Letters of Credit.

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

b. Originations $22 $11 $20SCHEDULE D: OTHER INTERMEDIATION ACTIVITIES (Millions $)

1. MBS/ABS Net Purchased Volume

a. Mortgage Backed Securities $194 $1 $4 Includes Mortgage Backed security purchase activities net of any security MBS sale activities,

within the consolidated investment holdings. At Qtr‐end this may also include Traded‐not‐se

transactions.

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

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 loa

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):  May 2010   

Submission date:  06/30/2010

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 (M&I) is a diversified financial services corporation headquartered in

Milwaukee, Wisconsin.  M&I Marshall & Ilsley Bank is the largest Wisconsin‐based bank, with 192 offices

throughout the state.  In addition, M&I has 53 locations throughout Arizona; 32 offices in Indianapolis

and nearby communities; 36 offices along Florida’s west coast and in central Florida; 15 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 $345 million of new credit to

new and existing customers in May for a total of over $7.8 billion since the infusion of CPP capital in

mid‐November 2008 (The “new credit” amount includes new and expanded extensions of credit, or

commitments to extend credit, as well as renewals of existing credit where a new promissory note was

executed).  Included in the figures above are small business new credit extensions of $30 million in May

and over $590 million since receipt of CPP capital.  ("Small business" includes: (1) SBA‐guaranteed loans

and (2) Commercial purpose loans where the original note amount was $1 million or less, outstanding

commitments were $1 million or less and the customer had (recorded) revenue of $1 million or less).  

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, 2010.

In Commercial and Industrial loans, loan demand continues to be weak across all of our markets.  

Economic uncertainty has resulted in borrowers continuing to defer capital expenditures, delaying

investment in infrastructure (plants and equipment) and experiencing excess liquidity, all of which

influence customer borrowing needs.

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

with our corporate goal of reducing credit exposure in this sector.  Economic uncertainty has resulted in

increased challenges for customers across a variety of sectors including retail, office and hospitality.  

Commercial Real Estate average balances are expected to continue contracting due to portfolio

amortization.

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

demand for fixed rate mortgage originations and selectively using the balance sheet for adjustable rate

mortgages.  Mortgage originations decreased slightly from April to May driven primarily by a decrease in

refinance activity due to a decrease in applications in April caused by a rise in mortgage rates.  The
TREASURY MONTHLY INTERMEDIATION SNAPSHOT

Name of institution:  Marshall & Ilsley Corporation

Reporting month(s):  May 2010   

Submission date:  06/30/2010

Person to be contacted regarding this report:  Gregory A. Smith

2

Average Loan Balance decline year‐over‐year is attributed to originations being sold in the secondary

market, periodic sales of non‐performing loans and amortization of the portfolio.   
Name of institution: Regions Financial Corporation Submission date: June 30, 2010 

PART I. QUANTITATIVE OVERVIEW

SCHEDULE A: CONSUMER LENDING (Millions $)

1. First Mortgage Mar Apr May Key 

a. Average Loan Balance (Daily Average Total Outstanding) $16,047 $16,078 $16,175 First and second residential 1‐4 family mortgages, including residential mortgages held 

b. Total Originations $573 $597 $569 Loan originations designated for the secondary market and those to be held in portfoli

Regions' balance sheet.

(1) Refinancings $289 $255 $210 Total originations designated as refinance status.

(2) New Home Purchases $284 $342 $358 Total originations designated as new purchase status.

2. Home Equity

a. Average Total Loan Balance $15,128 $15,045 $14,949 Average balances include Home Equity loans and HELOCs.b O i i ti (N Li Li I ) $102 $113 $102 N H E it l li d i

TREASURY MONTHLY INTERMEDIATION SNAPSH

2010

b. Originations (New Lines+Line Increases) $102 $113 $102 New Home Equity loans, lines and increases.

b. Originations (New Lines+Line Increases) $25,211 $25,063 $24,592 Total portfolio of Home Equity loans and funded and unfunded HELOCs. Funded portio

included in average balance above.

3. US Card ‐ Managed

a. Average Total Loan Balance ‐ Managed N/A N/A N/A N/A ‐ Regions Financial Corp is an Agent Bank.

b. New Account Originations (Initial Line Amt) N/A N/A N/Ac. Total Used and Unused Commitments N/A N/A N/A

4. Other Consumer

a. Average Total Loan Balance $3,696 $3,493 $3,350 Includes consumer direct, indirect, other revolving (i.e., overdraft lines) and student loa

for sale.

b. Originations $120 $96 $78 Includes direct and student lending origination activity.

1
SCHEDULE B: COMMERCIAL LENDING (Millions $)

1. C & I Mar Apr May Key 

a. Average Total Loan and Lease Balance $33,995 $33,845 $33,728 Average outstanding funded balances (net of deferred fees and costs) for commercial r

loans and leases. Also includes owner‐occupied commercial real estate mortgage and

construction loans made to operating businesses.

b. Renewal of Existing Accounts $1,557 $2,272 $1,612 Renewal of existing funded and unfunded commitments for commercial and owner‐occ

real estate related loans based upon posting date of renewal. Also includes letters of c

c. New Commitments $691 $948 $803 New funded and unfunded commitments for commercial and owner‐occupied real estate related 

based upon posting date of the commitment. Also includes letters of credit and leases. Variable R

Demand Note (VRDN) fundings are excluded from new commitment activity.

2. Commercial Real Estatea. Average Total Loan and Lease Balance $21,184 $20,566 $20,154 Average outstanding funded balances (net of deferred fees and costs) for commercial i

owned real estate related loans. Also includes Commercial loans held for sale.

b. Renewal of Existing Accounts $1,295 $943 $1,066 Renewal of existing funded and unfunded commitments for commercial investor‐owne

estate related loans based upon posting date of renewal. Also includes letters of credi

c. New Commitments $97 $27 $36 New funded and unfunded commitments for commercial investor‐owned real estate related loans 

upon posting date of the commitment. Also includes letters of credit. Variable Rate Demand Note 

fundings are excluded from new commitment activity.

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

4. Small Business Loans3

a. Average Total Loan Balance $13,424 $13,322 $13,248 Average outstanding funded balances (net of deferred fees and costs) for commercial and commercial real esta

loans made to small business clients, which we generally define as clients with revenues up to $10 million. The

are reflected as components of C&I, Commercial Real Estate and First Mortgage reported above.

b. Originations $606 $583 $573 New and renewed production of funded and unfunded commitments made to small bu

clients, which we generally define as clients with revenues up to $10 million. These ori

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 $0.4 $0.5 $866 Net purchase volume as captured in bond accounting system. Reflects settlement date

b. Asset Backed Securities $0 $0 $0

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

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

b. Average Total Debit Balances2 $825 $819 $916 Reflects average margin receivables as recorded on the general ledger.

3. Underwriting

Ttl E it U d iti $49 $78 $26 Ttl it d iti ti it R t Ri ' ti i ti t 

a. Total Equity Underwriting $49 $78 $26 Total equity underwriting activity. Represents Regions' participation percentage.

b. Total Debt Underwriting $1,371 $1,015 $1,000 Debt issuances delivered monthly. Represents Regions' participation percentage.

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

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):    May 2010      

Submission date:  June 30, 2010

Person to be contacted regarding this report:  David Turner, 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 March 31, 2010, Regions had total consolidated assets of

approximately $137 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 May, new and renewed commitments decreased by $0.7 billion to $4.3 billion for the month, and

average balances were down $0.6 billion from April to $88.4 billion.

The month over month decrease in new and renewed commitments was driven by a $0.7 billion

decrease in C&I renewals.

III. Consumer Lending

A. Mortgage Lending

The mortgage division originated mortgage loans totaling $569 million in May 2010.  Overall production

decreased 4.8% from the prior month.  New purchase originations increased from the prior month 4.9%,

and refinancing activity decreased 17.6%.  Application activity in May decreased 12% as compared to

prior month.

Regions’ mortgage division rolled out the U.S. Treasury sponsored Home Affordable Refinance Program

(HARP) in late March 2009, 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.  The loan‐to‐value ratio can not exceed 125%.  May originations included

approximately $34 million related to 200 loans refinanced under the Home Affordable Refinance

Program.
TREASURY MONTHLY INTERMEDIATION SNAPSHOT

Name of institution: Regions Financial Corporation

Reporting month(s):    May 2010      

Submission date:  June 30, 2010

Person to be contacted regarding this report:  David Turner, Chief Financial Officer

2

Regions’ has implemented the U. S. Treasury sponsored Home Affordable Modification Program (HMP)

for FNMA/FHLMC loans serviced by Regions. This program is designed to assist mortgage borrowers who

have an existing loan owned or securitized by Fannie Mae or Freddie Mac, and who are in imminent

danger of default or are already in default to obtain modified financing terms prescribed by the

program.  On March 26, 2010, the U.S. Treasury announced program modifications to the existing HMP

program.  These program modifications are designed to expand flexibility for mortgage servicers and

originators to assist more unemployed homeowners and to help more people who owe more on their

mortgage than their home is worth because their local markets saw large declines in home values.  The

government is expected to provide details on the program changes by this fall.  Once detailed guidelines

are received, Regions will review them and implement as applicable for FNMA/FHLMC loans serviced by

Regions.  In accordance with the program guidelines, Regions has distributed approximately 1,489

modification packages to eligible borrowers subject to a ninety‐day trial period. The first modifications

under this program were seen in July 2009.  In the month of May, Regions completed 86 modifications

totaling $13.0 million in unpaid principal.  Regions currently services approximately $20.6 billion of

Fannie Mae and Freddie Mac mortgages.  

B. Home Equity Lending

Home Equity production declined 10% in May to $102MM. The decline in production can be attributed

to reduced application volume as well as reduced bookings. While down over prior month, Home Equity

Lending production is up 1.7% over same period prior year.

Overall Home Equity average balances declined $95.3 million or 0.6% in May to $14.9 billion.  The

HELOAN portfolio declined $27.5 million, 1.6%, while HELOC balances declined $67.8 million, 0.5%,

reflecting portfolio paydowns in excess of production.

C. Other Consumer Lending

Overall, Other Consumer Lending balances decreased 4% in May compared to April primarily driven by

the continued run‐off in the Indirect Lending portfolio and routine student loan sales.   

D. Customer Assistance Program

Regions’ continues to work to meet the unique needs of financially troubled borrowers to stem

foreclosures and keep customers in their homes. Well before the full effects of the credit crisis were

realized, Regions launched an extensive Customer Assistance Program (CAP) for troubled borrowers.  As

unemployment levels continue to be elevated and the housing crisis lingers our goal remains the same ‐ 

to ensure customers who encounter financial difficulty know they have options and that Regions wants

to work with them.

As a result, Regions has taken steps including renegotiating the terms of mortgages and home equity

loans, keeping families in their homes and allowing Regions to maintain a foreclosure rate well below

industry average for residential first mortgages.  Overall, the number of Regions first mortgage loans in
TREASURY MONTHLY INTERMEDIATION SNAPSHOT

Name of institution: Regions Financial Corporation

Reporting month(s):    May 2010      

Submission date:  June 30, 2010

Person to be contacted regarding this report:  David Turner, Chief Financial Officer

3

the foreclosure process is less than half the national average. (2.07% for Regions vs. 4.63% nationally in

the first quarter of 2010.)  Since inception of the program, Regions has restructured more than $2.1

billion in mortgages, including $65 million in May 2010. Regions has assisted more than 31,000

homeowners with solutions. 

In addition, Regions introduced the U.S. Treasury sponsored Home Affordable Modification Program for

loans serviced on behalf of Fannie Mae and Freddie Mac back in late March.  To date, we have initiated

1,489 trial period modifications for $229 million, and of those, 900 have been completed for $137

million.

IV. Commercial Lending

A.  Commercial and Industrial Lending

Loan demand remained soft in May as the stagnant economy continues to drive more conservative

leverage positions.  Outstanding loan balances were down in May as compared to April levels.  

Commercial line utilization rates decreased in May as compared to April.

In the middle market, client appetite for additional debt remains low.  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 current economic outlook.

  

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 First

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 current economic outlook.  As a result,

we are seeing small businesses build cash in their operating accounts.  Small business line utilization

rates remained flat in May as compared to April.

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.  Renewal activity includes loan

restructuring, remargining and repricing, consistent with the current credit quality of the sponsor, the

performance of the project and the current market.  As homebuilders sell existing inventory, we

continue to convert lot loans to residential construction loans, in turn, reducing our land and lot

portfolio.  

In May, new loan demand remained low.  Developers are reluctant to begin new projects or purchase

existing projects under current economic conditions.
TREASURY MONTHLY INTERMEDIATION SNAPSHOT

Name of institution: Regions Financial Corporation

Reporting month(s):    May 2010      

Submission date:  June 30, 2010

Person to be contacted regarding this report:  David Turner, Chief Financial Officer

4

V. Treasury Activities  

Management of interest rate risk is among the most fundamental tenets in banking.  Banking

institutions utilize the Available for Sale investment portfolio as a primary tool to balance the inherent

interest rate risk arising from core banking activities.  Agency Mortgage‐Backed securities provided an

efficient means to offset asset sensitivity and maintain the desired liquidity profile, while offering a

compelling risk adjusted return on the use of capital.  Mortgage‐Backed security activity in May totaled

$866 million, which consists of Agency Fixed‐Rate Mortgage‐Backed Products.

VI. Equity and Debt Activities at Morgan Keegan

In May the Morgan Keegan Equity department saw the IPO market come to an abrupt halt. The total

dollars raised in May was the lowest for that month since 1995. We saw ten IPO’s withdraw their

registration statements with the SEC during one week, the highest in a week’s time since October 2008.

Also, the VIX (Chicago Board Options Exchange Volatility Index) moved up sharply in May continuing its

slight upward trend from April.  The most active sectors were the oil and gas sector followed by the real

estate sector. If volatility remains in the marketplace, we would expect the continuation of a slow

syndicate calendar. For the second month in a row, the Morgan Keegan Debt department saw lower

volume than expected.  We expect volume to stay flat in June and drop off thru Labor Day.
Name of institution: SunTrust Banks, Inc. Submission date: 06/29/10 Person to be c

PART I. QUANTITATIVE OVERVIEW

SCHEDULE A: CONSUMER LENDING (Millions $) MAR APR MAY Key 1. First Mortgagea. Average Loan Balance (Daily Average Total Outstanding) $31,429 $31,659 $31,599 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 $2,217 $2,368 $2,105 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 $1,246 $1,221 $917(2) New Home Purchases $971 $1,147 $1,188

2. Home Equity

a. Average Total Loan Balance $17,239 $17,164 $17,095 Average balance, originations, and commitments include both Home Equity Lines and Home Equity

Loans.

b. Originations (New Lines+Line Increases) $126 $131 $101

Originations dec

the 25% decreas

Average balance

2010

TREASURY MONTHLY INTERMEDIATION SNAPSHOT

1

c. Total Used and Unused Commitments $32,468 $32,215 $31,989

3. US Card ‐ Managed

a. Average Total Loan Balance ‐ Managed $1,065 $1,063 $1,056 Purchases drawn against SunTrust consumer and commercial credit card lines of credit are booked

in the calendar month transacted.

b. New Account Originations (Initial Line Amt) $14 $15 $15 SunTrust issues both commercial and consumer credit card lines of credit. New line commitments

are recognized when approved and cards are issued.

c. Total Used and Unused Commitments $4,021 $3,975 $3,905 This is the line commitment total for all credit card accounts of record.

4. Other Consumer

a. Average Total Loan Balance $12,704 $12,785 $12,847 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 $563 $578 $507

May origination

April.Average balance

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

1. C & Ia. Average Total Loan and Lease Balance $33,227 $33,078 $33,030 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 $1,328 $887 $1,122 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 $1,286 $924 $1,104 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 $21,389 $21,070 $20,764 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 $349 $198 $174 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 $228 $163 $157 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 $5,210 $5,173 $5,128 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.

The persistent d

Originations inc

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

Average loan ba

facilities increas

Commercial rea

decreased comp

2

of $5 million or less.

b. Originations $48 $33 $49SCHEDULE D: OTHER INTERMEDIATION ACTIVITIES (Millions $)

1. MBS/ABS Net Purchased Volume

a. Mortgage Backed Securities $508 $585 $2,966 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 $0 The numbers represent net purchase volume within the reporting period. These figures include

securities reported in SunTrust's available‐for‐sale and trading portfolios.

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

a. Average Total Matched Book (Repo/Reverse Repo)1 n/a n/a n/a SunTrust Bank has less than $50 billion in matched book repos. SunTrust Robinson Humphrey

“STRH”, an institutional broker dealer, is fully disclosed on the equity side through a third party

service provider and does not hold customer accounts.

b. Average Total Debit Balances2 n/a n/a n/a Although STRH self‐clears institutional fixed income transactions, STRH does not carry customer

accounts.

3. Underwriting

a. Total Equity Underwriting $57 $46 $31 Includes total dollars allocated to STRH in equity underwriting transactions that settled within the

reporting period.

b. Total Debt Underwriting $763 $538 $247 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.

In May, SunTrus

securities for the 

securities to ext

Total debt unde

underwriting of 

for May totaled 

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

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

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

2
TREASURY MONTHLY INTERMEDIATION SNAPSHOT

Name of institution:  SunTrust Banks, Inc.

Reporting month(s):  May 2010   

Submission date: 6/29/10

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 $171.8 billion on March 31, 2010, 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 1,678 retail branches in Alabama, Arkansas, Florida, Georgia,

Maryland, Mississippi, North Carolina, South Carolina, Tennessee, Virginia, West Virginia, and the

District of Columbia.  In addition, SunTrust services clients in select markets nationally.   

Average loans in May, including loans held for sale, totaled $116.4 billion, down $428 million or 0.4%

from April.  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.    Total new loan originations, commitments,

and renewals extended to all borrowers in May totaled $5.3 billion, an increase of 0.4% from April.  

Consumer Lending

Mortgage originations totaled $2.1 billion during May, representing an 11% decrease from April.  Loans

funded for new home purchases in May increased by 4% relative to April, while refinancings declined

25% during the same period as the number of borrowers with interest rate related refinance

opportunities and eligibility continues to decline.   Factors influencing the increase in new home

mortgage originations in May included seasonality, the federal home‐buyer tax credit incentives and

attractive mortgage rates.  Average mortgage balances decreased by $60 million during May.  

Home equity borrowing remains stagnant as evidenced by the fractional monthly decline of both total

commitments and outstanding balances over the last three months.   During May, total used and unused

commitments decreased $226 million while average funded balances decreased $69 million.   Both

changes represent relative decreases of less than 1% in comparison to April.  In May, new equity loan

and line originations decreased 23% to $101 million.  Growth levels remain constrained by the decline in

home values and the generally reduced demand for credit.

Credit card balances represent a small percentage of SunTrust’s loan portfolio and drive a relatively

immaterial percentage of SunTrust’s total annual loan originations.  In May, new credit card originations

totaled $15 million, with $11 million related to new consumer accounts and $4 million related to new

business and corporate accounts.    

Other consumer loans are primarily composed of student, auto, and other loans.  May fundings for

indirect auto, student, and other consumer loans decreased 12% from April, as May student loan

originations decreased $21 million, or 13%, from April due to seasonality associated with semester
TREASURY MONTHLY INTERMEDIATION SNAPSHOT

Name of institution:  SunTrust Banks, Inc.

Reporting month(s):  May 2010   

Submission date: 6/29/10

Person to be contacted regarding this report:  Barry Koling

2

tuition payments and student enrollments.  Also, indirect auto production decreased by $32 million, or

10%, from April.  

Commercial Lending

Average C&I loan balances decreased $48 million, or 0.1%, in May to $33 billion.  Renewals of existing

credit facilities and stand‐alone notes totaled $1.1 billion in May, an increase of 26% from April.

Combined new commitments and new funded loans also increased in May by $180 million, a 19%

increase compared to April.  C & I originations and renewals are often impacted by client preferences

and seasonality.   

Commercial Real Estate

Average Commercial Real Estate loans decreased $306 million, or 1%, compared to the April average.  

New residential home builder loan demand was negligible and demand for commercial development

projects remained low as property values remained depressed and investment activity was limited.  

Total Commercial Real Estate renewals and originations in May decreased $30 million, or 8%, compared

to April activity.  The majority of originations were associated with large commercial or corporate

businesses.  During May, average balances of commercial real estate loans secured by owner‐occupied

real estate remained stable, while a decline in investor‐owned real estate loans drove the decrease in

average total commercial real estate balances.

Small Business Lending

Most small business loans are originated in the business banking group which primarily serves clients

with annual sales of $5 million or less.  In May, the average loan balance was $5.1 billion, down 1% from

April.  Compared to April, May originations increased slightly to $49 million.

Other Intermediation Activities

Beyond lending to consumers and businesses, SunTrust participates in various additional intermediation

activities.  In May 2010, SunTrust purchased an additional $3 billion of U. S. government and agency

issued mortgage‐backed securities for the available for sale portfolio and sold $2.7 billion in lower

yielding U.S. Treasury and Agency securities to extend the duration of the portfolio.  

SunTrust participated in twenty‐one debt issues in May with a total notional value of $6.4 billion.  

SunTrust’s allocation of underwritten debt included $90 million in investment‐grade fixed‐income

issues, $72 million in municipal debt issues, and $85 million in high‐yield fixed‐income offerings, which in

the aggregate was $291 million below April totals.

In May, SunTrust participated in two equity offerings with a total notional value of $329 million, of

which our allocation was $31 million.