Notes to Consolidated Financial Statements Gains and Losses from Market Making and Other Principal Transactions The table below presents, by major product type, the firm’s “Market making” and “Other principal transactions” revenues.
These gains/(losses) are primarily related to the firm’s financial instruments owned, at fair value and financial instruments sold, but not yet purchased, at fair value, including both derivative and non-derivative financial instruments.
These gains/(losses) exclude related interest income and interest expense.
See Note 23 for further information about interest income and interest expense.
The gains/(losses) in the table are not representative of the manner in which the firm manages its business activities because many of the firm’s market-making, client facilitation, and investing and lending strategies utilize financial instruments across various product types.
Accordingly, gains or losses in one product type frequently offset gains or losses in other product types.
For example, most of the firm’s longer-term derivatives are sensitive to changes in interest rates and may be economically hedged with interest rate swaps.
Similarly, a significant portion of the firm’s cash instruments and derivatives has exposure to foreign currencies and may be economically hedged with foreign currency contracts.
## Table 0 ##
Note 5.
Fair Value Measurements The fair value of a financial instrument is the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.
Financial assets are marked to bid prices and financial liabilities are marked to offer prices.
Fair value measurements do not include transaction costs.
The firm measures certain financial assets and financial liabilities as a portfolio (i. e. , based on its net exposure to market and/or credit risks).
The best evidence of fair value is a quoted price in an active market.
If quoted prices in active markets are not available, fair value is determined by reference to prices for similar instruments, quoted prices or recent transactions in less active markets, or internally developed models that primarily use market-based or independently sourced parameters as inputs including, but not limited to, interest rates, volatilities, equity or debt prices, foreign exchange rates, commodity prices, credit spreads and funding spreads (i. e. , the spread, or difference, between the interest rate at which a borrower could finance a given financial instrument relative to a benchmark interest rate).
U. S.  GAAP has a three-level fair value hierarchy for disclosure of fair value measurements.
The fair value hierarchy prioritizes inputs to the valuation techniques used to measure fair value, giving the highest priority to level 1 inputs and the lowest priority to level 3 inputs.
A financial instrument’s level in the fair value hierarchy is based on the lowest level of input that is significant to its fair value measurement.
The fair value hierarchy is as follows: Level 1.
Inputs are unadjusted quoted prices in active markets to which the firm had access at the measurement date for identical, unrestricted assets or liabilities.
Level 2.
Inputs to valuation techniques are observable, either directly or indirectly.
Level 3.
One or more inputs to valuation techniques are significant and unobservable.
Notes to Consolidated Financial Statements Subordinated Borrowings Unsecured long-term borrowings include subordinated debt and junior subordinated debt.
Junior subordinated debt is junior in right of payment to other subordinated borrowings, which are junior to senior borrowings.
As of December 2012 and December 2011, subordinated debt had maturities ranging from 2015 to 2038 and 2017 to 2038, respectively.
The table below presents subordinated borrowings.
## Table 1 ##
1.
Weighted average interest rate after giving effect to fair value hedges used to convert these fixed-rate obligations into floating-rate obligations.
See Note 7 for further information about hedging activities.
See below for information about interest rates on junior subordinated debt.2.
Par amount and carrying amount of subordinated debt issued by Group Inc.  was $13.85 billion and $16.80 billion, respectively, as of December 2012, and $13.75 billion and $16.80 billion, respectively, as of December 2011.
Junior Subordinated Debt Junior Subordinated Debt Issued to APEX Trusts.
In 2007, Group Inc.  issued a total of $2.25 billion of remarketable junior subordinated debt to Goldman Sachs Capital II and Goldman Sachs Capital III (APEX Trusts), Delaware statutory trusts.
The APEX Trusts issued $2.25 billion of guaranteed perpetual Normal Automatic Preferred Enhanced Capital Securities (APEX) to third parties and a de minimis amount of common securities to Group Inc.  Group Inc.  also entered into contracts with the APEX Trusts to sell $2.25 billion of Group Inc.  perpetual non-cumulative preferred stock (the stock purchase contracts).
See Note 19 for more information about the preferred stock that Group Inc.  has issued in connection with the stock purchase contracts.
The firm accounted for the stock purchase contracts as equity instruments and, accordingly, recorded the cost of the stock purchase contracts as a reduction to additional paid-in capital.
During the first quarter of 2012, pursuant to a remarketing provided for by the initial terms of the junior subordinated debt, Goldman Sachs Capital II sold all of its $1.75 billion of junior subordinated debt to Murray Street Investment Trust I (Murray Street Trust), a new trust sponsored by the firm.
On June 1, 2012, pursuant to the stock purchase contracts, Goldman Sachs Capital II used the proceeds of this sale to purchase shares of Group Inc. ’s Perpetual Non-Cumulative Preferred Stock, Series E (Series E Preferred Stock).
During the third quarter of 2012, pursuant to a remarketing provided for by the initial terms of the junior subordinated debt, Goldman Sachs Capital III sold all of its $500 million of junior subordinated debt to Vesey Street Investment Trust I (Vesey Street Trust), a new trust sponsored by the firm.
On September 4, 2012, pursuant to the stock purchase contracts, Goldman Sachs Capital III used the proceeds of this sale to purchase shares of Group Inc. ’s Perpetual Non-Cumulative Preferred Stock, Series F (Series F Preferred Stock).
In connection with the remarketing of the junior subordinated debt to the Murray Street Trust and Vesey Street Trust (together, the 2012 Trusts), pursuant to the terms of the junior subordinated debt, the interest rate and other terms were modified.
Following such sales, the firm pays interest semi-annually on the $1.75 billion of junior subordinated debt held by the Murray Street Trust at a fixed annual rate of 4.647% and the debt matures on March 9, 2017 and on the $500 million of junior subordinated debt held by the Vesey Street Trust at a fixed annual rate of 4.404% and the debt matures on September 1, 2016.
To fund the purchase of the junior subordinated debt, the 2012 Trusts issued an aggregate of $2.25 billion of senior guaranteed trust securities.
The 2012 Trusts are required to pay distributions on their senior guaranteed trust securities in the same amounts and on the same dates that they are scheduled to receive interest on the junior subordinated debt they hold, and are required to redeem their respective senior guaranteed trust securities upon the maturity or earlier redemption of the junior subordinated debt they hold.
Group Inc.  fully and unconditionally guarantees the payment of these distribution and redemption amounts when due on a senior basis and, as such, the $2.25 billion of junior subordinated debt held by the 2012 Trusts for the benefit of investors is no longer classified as junior subordinated debt.
Notes to Consolidated Financial Statements Bank Subsidiaries GS Bank USA, an FDIC-insured, New York State-chartered bank and a member of the Federal Reserve System, is supervised and regulated by the Federal Reserve Board, the FDIC, the New York State Department of Financial Services and the Consumer Financial Protection Bureau, and is subject to minimum capital requirements (described below) that are calculated in a manner similar to those applicable to bank holding companies.
GS Bank USA computes its capital ratios in accordance with the regulatory capital requirements currently applicable to state member banks, which are based on Basel 1 as implemented by the Federal Reserve Board, for purposes of assessing the adequacy of its capital.
Under the regulatory framework for prompt corrective action that is applicable to GS Bank USA, in order to be considered a “well-capitalized” depository institution, GS Bank USA must maintain a Tier 1 capital ratio of at least 6%, a total capital ratio of at least 10% and a Tier 1 leverage ratio of at least 5%.
GS Bank USA has agreed with the Federal Reserve Board to maintain minimum capital ratios in excess of these “wellcapitalized” levels.
Accordingly, for a period of time, GS Bank USA is expected to maintain a Tier 1 capital ratio of at least 8%, a total capital ratio of at least 11% and a Tier 1 leverage ratio of at least 6%.
As noted in the table below, GS Bank USA was in compliance with these minimum capital requirements as of December 2012 and December 2011.
The table below presents information regarding GS Bank USA’s regulatory capital ratios under Basel 1 as implemented by the Federal Reserve Board.
## Table 2 ##
Effective January 1, 2013, GS Bank USA implemented the revised market risk regulatory framework outlined above.
These changes resulted in increased regulatory capital requirements for market risk, and will be reflected in all of GS Bank USA’s Basel-based capital ratios for periods beginning on or after January 1, 2013.
GS Bank USA is also currently working to implement the Basel 2 framework, as implemented by the Federal Reserve Board.
GS Bank USA will adopt Basel 2 once approved to do so by regulators.
In addition, the capital requirements for GS Bank USA are expected to be impacted by the June 2012 proposed modifications to the Agencies’ capital adequacy regulations outlined above, including the requirements of a floor to the advanced risk-based capital ratios.
If enacted as proposed, these proposals would also change the regulatory framework for prompt corrective action that is applicable to GS Bank USA by, among other things, introducing a common equity Tier 1 ratio requirement, increasing the minimum Tier 1 capital ratio requirement and introducing a supplementary leverage ratio as a component of the prompt corrective action analysis.
GS Bank USA will also be impacted by aspects of the Dodd-Frank Act, including new stress tests.
The deposits of GS Bank USA are insured by the FDIC to the extent provided by law.
The Federal Reserve Board requires depository institutions to maintain cash reserves with a Federal Reserve Bank.
The amount deposited by the firm’s depository institution held at the Federal Reserve Bank was approximately $58.67 billion and $40.06 billion as of December 2012 and December 2011, respectively, which exceeded required reserve amounts by $58.59 billion and $39.51 billion as of December 2012 and December 2011, respectively.
Transactions between GS Bank USA and its subsidiaries and Group Inc.  and its subsidiaries and affiliates (other than, generally, subsidiaries of GS Bank USA) are regulated by the Federal Reserve Board.
These regulations generally limit the types and amounts of transactions (including credit extensions from GS Bank USA) that may take place and generally require those transactions to be on market terms or better to GS Bank USA.
The firm’s principal non-U.
S.  bank subsidiaries include GSIB, a wholly-owned credit institution, regulated by the FSA, and GS Bank Europe, a wholly-owned credit institution, regulated by the Central Bank of Ireland, which are both subject to minimum capital requirements.
As of December 2012 and December 2011, GSIB and GS Bank Europe were both in compliance with all regulatory capital requirements.
On January 18, 2013, GS Bank Europe surrendered its banking license to the Central Bank of Ireland after transferring its deposits to GSIB.

Tables referenced above, in order (Table 0 first):
<table><tr><td></td><td colspan="4">Year Ended December</td></tr><tr><td><i>in millions</i></td><td> </td><td>2012</td><td>2011</td><td>2010</td></tr><tr><td>Interest rates</td><td> </td><td>$ 4,366</td><td>$ 1,557</td><td>$ -2,042</td></tr><tr><td>Credit</td><td> </td><td>5,506</td><td>2,715</td><td>8,679</td></tr><tr><td>Currencies</td><td> </td><td>-1,004</td><td>901</td><td>3,219</td></tr><tr><td>Equities</td><td> </td><td>5,802</td><td>2,788</td><td>6,862</td></tr><tr><td>Commodities</td><td> </td><td>575</td><td>1,588</td><td>1,567</td></tr><tr><td>Other</td><td> <sup></sup><sup></sup></td><td>1,9681</td><td>1,245</td><td>2,325</td></tr><tr><td> Total</td><td> </td><td>$17,213</td><td>$10,794</td><td>$20,610</td></tr></table>
<table><tr><td></td><td colspan="3">As of December 2012</td><td colspan="3">As of December 2011</td><td></td></tr><tr><td><i>$ in millions</i></td><td> Par  Amount</td><td> Carrying  Amount</td><td>Rate1</td><td>Par Amount</td><td>Carrying Amount</td><td>Rate<sup></sup></td><td><sup>1</sup></td></tr><tr><td>Subordinated debt<sup>2</sup></td><td> $14,409</td><td> $17,358</td><td>4.24%</td><td>$14,310</td><td>$17,362</td><td>4.39%</td><td></td></tr><tr><td>Junior subordinated debt</td><td> 2,835</td><td> 4,228</td><td>3.16%</td><td>5,085</td><td>6,533</td><td>2.43%</td><td></td></tr><tr><td> Total subordinated borrowings</td><td> $17,244</td><td> $21,586</td><td>4.06%</td><td>$19,395</td><td>$23,895</td><td>3.87%</td><td></td></tr></table>
<table><tr><td></td><td>As of December</td></tr><tr><td><i>$ in millions</i></td><td>2012</td><td>2011</td></tr><tr><td>Tier 1 capital</td><td>$ 20,704</td><td>$ 19,251</td></tr><tr><td>Tier 2 capital</td><td>$ 39</td><td>$ 6</td></tr><tr><td>Total capital</td><td>$ 20,743</td><td>$ 19,257</td></tr><tr><td>Risk-weighted assets</td><td>$109,669</td><td>$112,824</td></tr><tr><td>Tier 1 capital ratio</td><td>18.9%</td><td>17.1%</td></tr><tr><td>Total capital ratio</td><td>18.9%</td><td>17.1%</td></tr><tr><td>Tier 1 leverage ratio</td><td>17.6%</td><td>18.5%</td></tr></table>

Question: What is the sum of Credit in 2010 and Junior subordinated debt of Par Amount in 2011? (in million)
Answer: 13764
Reasoning program: add(8679,5085)