NOTE 5 Allowance for Credit Losses The table below summarizes the changes in the allowance for credit losses by portfolio segment for 2016, 2015 and 2014.
## Table 0 ##
Allowance for loan and lease losses, January 1
## Table 1 ##
Allowance for loan and lease losses, January 1
## Table 2 ##
(1) Primarily represents the net impact of portfolio sales, consolidations and deconsolidations, foreign currency translation adjustments and certain other reclassifications.
(2) Represents allowance for loan and lease losses related to the non-U.
S.  credit card loan portfolio, which is included in assets of business held for sale on the Consolidated Balance Sheet at December 31, 2016.
In 2016, 2015 and 2014, for the PCI loan portfolio, the Corporation recorded a provision benefit of $45 million, $40 million and $31 million, respectively.
Write-offs in the PCI loan portfolio totaled $340 million, $808 million and $810 million during 2016, 2015 and 2014, respectively.
Write-offs included $60 million, $234 million and $317 million associated with the sale of PCI loans during 2016, 2015 and 2014, respectively.
The valuation allowance associated with the PCI loan portfolio was $419 million, $804 million and $1.7 billion at December 31, 2016, 2015 and 2014, respectively
NOTE 7 Representations and Warranties Obligations and Corporate Guarantees Background The Corporation securitizes first-lien residential mortgage loans generally in the form of RMBS guaranteed by the GSEs or by GNMA in the case of FHA-insured, VA-guaranteed and Rural Housing Service-guaranteed mortgage loans, and sells pools of first-lien residential mortgage loans in the form of whole loans.
In addition, in prior years, legacy companies and certain subsidiaries sold pools of first-lien residential mortgage loans and home equity loans as private-label securitizations or in the form of whole loans.
In connection with these transactions, the Corporation or certain of its subsidiaries or legacy companies made various representations and warranties.
Breaches of these representations and warranties have resulted in and may continue to result in the requirement to repurchase mortgage loans or to otherwise make whole or provide other remedies to investors, securitization trusts, guarantors, insurers or other parties (collectively, repurchases).
Settlement Actions The Corporation has vigorously contested any request for repurchase where it has concluded that a valid basis for repurchase does not exist and will continue to do so in the future.
However, in an effort to resolve legacy mortgage-related issues, the Corporation has reached bulk settlements, certain of which have been for significant amounts, in lieu of a loan-by-loan review process, including settlements with the GSEs, four monoline insurers and Bank of New York Mellon (BNY Mellon), as trustee for certain securitization trusts.
These bulk settlements generally did not cover all transactions with the relevant counterparties or all potential claims that may arise, including in some instances securities law, fraud, indemnification and servicing claims, which may be addressed separately.
The Corporation’s liability in connection with the transactions and claims not covered by these settlements could be material to the Corporation’s results of operations or liquidity for any particular reporting period.
The Corporation may reach other settlements in the future if opportunities arise on terms it believes to be advantageous.
However, there can be no assurance that the Corporation will reach future settlements or, if it does, that the terms of past settlements can be relied upon to predict the terms of future settlements.
Unresolved Repurchase Claims Unresolved representations and warranties repurchase claims represent the notional amount of repurchase claims made by counterparties, typically the outstanding principal balance or the unpaid principal balance at the time of default.
In the case of firstlien mortgages, the claim amount is often significantly greater than the expected loss amount due to the benefit of collateral and, in some cases, mortgage insurance (MI) or mortgage guarantee payments.
Claims received from a counterparty remain outstanding until the underlying loan is repurchased, the claim is rescinded by the counterparty, the Corporation determines that the applicable statute of limitations has expired, or representations and warranties claims with respect to the applicable trust are settled, and fully and finally released.
The Corporation does not include duplicate claims in the amounts disclosed.
The table below presents unresolved repurchase claims at December 31, 2016 and 2015.
The unresolved repurchase claims include only claims where the Corporation believes that the counterparty has the contractual right to submit claims.
The unresolved repurchase claims predominantly relate to subprime and pay option first-lien loans and home equity loans.
For additional information, see Private-label Securitizations and Whole-loan Sales Experience in this Note and Note 12 – Commitments and Contingencies.
## Table 3 ##
(1) Includes $11.9 billion of claims based on individual file reviews and $4.8 billion of claims submitted without individual file reviews at both December 31, 2016 and 2015.
During 2016, the Corporation received $647 million in new repurchase claims, including $440 million of claims that are deemed time-barred.
During 2016, $734 million in claims were resolved, including $477 million that are deemed time-barred.
Of the remaining unresolved monoline claims, substantially all of the claims pertain to second-lien loans and are currently the subject of litigation with a single monoline insurer.
There may be additional claims or file requests in the future.
In addition to the unresolved repurchase claims in the Unresolved Repurchase Claims by Counterparty, net of duplicate claims table, the Corporation has received notifications from sponsors of third-party securitizations with whom the Corporation engaged in whole-loan transactions indicating that the Corporation may have indemnity obligations with respect to loans for which the Corporation has not received a repurchase request.
These outstanding notifications totaled $1.3 billion and $1.4 billion at December 31, 2016 and 2015.
The presence of repurchase claims on a given trust, receipt of notices of indemnification obligations and receipt of other communications, as discussed above, are all factors that inform the Corporation’s liability for representations and warranties and the corresponding estimated range of possible loss.
Private-label Securitizations and Whole-loan Sales Experience Prior to 2009, legacy companies and certain subsidiaries sold pools of first-lien residential mortgage loans and home equity loans as private-label securitizations or in the form of whole loans.
In connection with these transactions, the Corporation or certain of its subsidiaries or legacy companies made various representations and warranties.
When the Corporation provided representations and warranties in connection with the sale of whole loans, the whole-loan investors may retain the right to make repurchase claims even when the loans were aggregated with other collateral into private-label securitizations sponsored by the wholeloan investors.
In other third-party securitizations, the whole-loan investors’ rights to enforce the representations and warranties were transferred to the securitization trustees.
Private-label securitization investors generally do not have the contractual right
Average earning assets decreased $6.9 billion to $423.6 billion in 2016 primarily driven by a decrease in match book financing activity and a reduction in trading inventory, partially offset by higher loans and other customer financing.
Year-end trading-related assets increased $6.6 billion in 2016 primarily driven by higher securities borrowed or purchased under agreements to resell due to increased customer financing activity as well as higher trading account assets due to client demand.
The return on average allocated capital was 10 percent, up from seven percent, reflecting an increase in net income, partially offset by an increase in allocated capital.
Sales and Trading Revenue Sales and trading revenue includes unrealized and realized gains and losses on trading and other assets, net interest income, and fees primarily from commissions on equity securities.
Sales and trading revenue is segregated into fixed-income (government debt obligations, investment and non-investment grade corporate debt obligations, commercial MBS, residential mortgage-backed securities (RMBS), collateralized loan obligations (CLOs), interest rate and credit derivative contracts), currencies (interest rate and foreign exchange contracts), commodities (primarily futures, forwards, swaps and options) and equities (equity-linked derivatives and cash equity activity).
The following table and related discussion present sales and trading revenue, substantially all of which is in Global Markets, with the remainder in Global Banking.
In addition, the following table and related discussion present sales and trading revenue excluding the impact of net DVA, which is a non-GAAP financial measure.
We believe the use of this nonGAAP financial measure provides additional useful information to assess the underlying performance of these businesses and to allow better comparison of period-to-period operating performance.
## Table 4 ##
(1) Includes FTE adjustments of $184 million and $182 million for 2016 and 2015.
For more information on sales and trading revenue, see Note 2 – Derivatives to the Consolidated Financial Statements.
(2) Includes Global Banking sales and trading revenue of $406 million and $424 million for 2016 and 2015.
(3) Fixed-income, currencies and commodities (FICC) and Equities sales and trading revenue, excluding net DVA, is a non-GAAP financial measure.
FICC net DVA losses were $238 million for 2016 compared to net DVA losses of $763 million in 2015.
Equities net DVA losses were $0 for 2016 compared to net DVA losses of $23 million in 2015.
The explanations for period-over-period changes in sales and trading, FICC and Equities revenue, as set forth below, would be the same if net DVA was included.
FICC revenue, excluding net DVA, increased $979 million as rates products improved on increased customer flow, and mortgages recorded strong results.
This was partially offset by a weaker performance in commodities, as lower volatility dampened client activity.
Equities revenue, excluding net DVA, decreased $341 million to $4.0 billion primarily driven by lower levels of client activity, primarily in Asia, which benefited in 2015 from increased market volumes relating to stock markets rallies in the region, as well as weaker trading performance in derivatives.
For more information on sales and trading revenue, see Note 2 – Derivatives to the Consolidated Financial Statements.
The types of potential contractual and contingent cash outflows we consider in our scenarios may include, but are not limited to, upcoming contractual maturities of unsecured debt and reductions in new debt issuance; diminished access to secured financing markets; potential deposit withdrawals; increased draws on loan commitments, liquidity facilities and letters of credit; additional collateral that counterparties could call if our credit ratings were downgraded; collateral and margin requirements arising from market value changes; and potential liquidity required to maintain businesses and finance customer activities.
Changes in certain market factors, including, but not limited to, credit rating downgrades, could negatively impact potential contractual and contingent outflows and the related financial instruments, and in some cases these impacts could be material to our financial results.
We consider all sources of funds that we could access during each stress scenario and focus particularly on matching available sources with corresponding liquidity requirements by legal entity.
We also use the stress modeling results to manage our asset and liability profile and establish limits and guidelines on certain funding sources and businesses.
Basel 3 Liquidity Standards Basel 3 has two liquidity risk-related standards: the LCR and the Net Stable Funding Ratio (NSFR).
The LCR is calculated as the amount of a financial institution’s unencumbered HQLA relative to the estimated net cash outflows the institution could encounter over a 30-day period of significant liquidity stress, expressed as a percentage.
The LCR regulatory requirement of 100 percent as of January 1, 2017 is applicable to the Corporation on a consolidated basis and to our insured depository institutions.
As of December 31, 2016, the consolidated Corporation and its insured depository institutions were above the 2017 LCR requirements.
Our LCR may fluctuate from period to period due to normal business flows from customer activity.
On December 19, 2016, the Federal Reserve published the final LCR public disclosure requirements.
Effective April 1, 2017, the final rule requires us to disclose publicly, on a quarterly basis, quantitative information about our LCR calculation and a discussion of the factors that have a significant effect on our LCR.
In April 2016, U. S.  banking regulators issued a proposal for an NSFR requirement applicable to U. S.  financial institutions following the Basel Committee's final standard in 2014.
The U. S.  NSFR would apply to the Corporation on a consolidated basis and to our insured depository institutions beginning on January 1, 2018.
We expect to meet the NSFR requirement within the regulatory timeline.
The standard is intended to reduce funding risk over a longer time horizon.
The NSFR is designed to ensure an appropriate amount of stable funding, generally capital and liabilities maturing beyond one year, given the mix of assets and off-balance sheet items.
Diversified Funding Sources We fund our assets primarily with a mix of deposits and secured and unsecured liabilities through a centralized, globally coordinated funding approach diversified across products, programs, markets, currencies and investor groups.
The primary benefits of our centralized funding approach include greater control, reduced funding costs, wider name recognition by investors and greater flexibility to meet the variable funding requirements of subsidiaries.
Where regulations, time zone differences or other business considerations make parent company funding impractical, certain other subsidiaries may issue their own debt.
We fund a substantial portion of our lending activities through our deposits, which were $1.26 trillion and $1.20 trillion at December 31, 2016 and 2015.
Deposits are primarily generated by our Consumer Banking, GWIM and Global Banking segments.
These deposits are diversified by clients, product type and geography, and the majority of our U. S.  deposits are insured by the FDIC.
We consider a substantial portion of our deposits to be a stable, low-cost and consistent source of funding.
We believe this deposit funding is generally less sensitive to interest rate changes, market volatility or changes in our credit ratings than wholesale funding sources.
Our lending activities may also be financed through secured borrowings, including credit card securitizations and securitizations with GSEs, the FHA and privatelabel investors, as well as FHLB loans.
Our trading activities in other regulated entities are primarily funded on a secured basis through securities lending and repurchase agreements and these amounts will vary based on customer activity and market conditions.
We believe funding these activities in the secured financing markets is more cost-efficient and less sensitive to changes in our credit ratings than unsecured financing.
Repurchase agreements are generally short-term and often overnight.
Disruptions in secured financing markets for financial institutions have occurred in prior market cycles which resulted in adverse changes in terms or significant reductions in the availability of such financing.
We manage the liquidity risks arising from secured funding by sourcing funding globally from a diverse group of counterparties, providing a range of securities collateral and pursuing longer durations, when appropriate.
For more information on secured financing agreements, see Note 10 – Federal Funds Sold or Purchased, Securities Financing Agreements and Short-term Borrowings to the Consolidated Financial Statements.
We issue long-term unsecured debt in a variety of maturities and currencies to achieve cost-efficient funding and to maintain an appropriate maturity profile.
While the cost and availability of unsecured funding may be negatively impacted by general market conditions or by matters specific to the financial services industry or the Corporation, we seek to mitigate refinancing risk by actively managing the amount of our borrowings that we anticipate will mature within any month or quarter.
During 2016, we issued $35.6 billion of long-term debt, consisting of $27.5 billion for Bank of America Corporation, $1.0 billion for Bank of America, N. A.  and $7.1 billion of other debt.
Table 17 presents our long-term debt by major currency at December 31, 2016 and 2015.
## Table 5 ##
Discussion and Analysis 305 Entergy's Utility supply plan initiative will continue to seek to transform its generation portfolio with new or repowered generation resources.
Opportunities resulting from the supply plan initiative, including new projects or the exploration of alternative financing sources, could result in increases or decreases in the capital expenditure estimates given above.
The estimated capital expenditures are subject to periodic review and modification and may vary based on the ongoing effects of regulatory constraints, environmental compliance, market volatility, economic trends, business restructuring, and the ability to access capital.
Management provides more information on longterm debt and preferred stock maturities in Notes 5 and 6 to the financial statements.
Sources of Capital Entergy Louisiana's sources to meet its capital requirements include: x internally generated funds; x cash on hand; x debt or preferred membership interest issuances; and x bank financing under new and existing facilities.
Entergy Louisiana may refinance or redeem debt and preferred membership interests prior to maturity, to the extent market conditions and interest and distribution rates are favorable.
All debt and common and preferred membership interest issuances by Entergy Louisiana require prior regulatory approval.
Preferred membership interest and debt issuances are also subject to issuance tests set forth in corporate charters, bond indentures, and other agreements.
Entergy Louisiana has sufficient capacity under these tests to meet its foreseeable capital needs.
Entergy Louisiana's receivables from or (payables to) the money pool were as follows as of December 31 for each of the following years:

Tables referenced above, in order (Table 0 first):
<table><tr><td></td><td colspan="4">2016</td></tr><tr><td>(Dollars in millions)</td><td>Consumer Real Estate</td><td>Credit Cardand OtherConsumer</td><td>Commercial</td><td>TotalAllowance</td></tr><tr><td>Allowance for loan and lease losses, January 1</td><td>$3,914</td><td>$3,471</td><td>$4,849</td><td>$12,234</td></tr><tr><td>Loans and leases charged off</td><td>-1,155</td><td>-3,553</td><td>-740</td><td>-5,448</td></tr><tr><td>Recoveries of loans and leases previously charged off</td><td>619</td><td>770</td><td>238</td><td>1,627</td></tr><tr><td>Net charge-offs</td><td>-536</td><td>-2,783</td><td>-502</td><td>-3,821</td></tr><tr><td>Write-offs of PCI loans</td><td>-340</td><td>—</td><td>—</td><td>-340</td></tr><tr><td>Provision for loan and lease losses</td><td>-258</td><td>2,826</td><td>1,013</td><td>3,581</td></tr><tr><td>Other<sup>-1</sup></td><td>-30</td><td>-42</td><td>-102</td><td>-174</td></tr><tr><td>Allowance for loan and lease losses, December 31</td><td>2,750</td><td>3,472</td><td>5,258</td><td>11,480</td></tr><tr><td>Less: Allowance included in assets of business held for sale<sup>-2</sup></td><td>—</td><td>-243</td><td>—</td><td>-243</td></tr><tr><td>Total allowance for loan and lease losses, December 31</td><td>2,750</td><td>3,229</td><td>5,258</td><td>11,237</td></tr><tr><td>Reserve for unfunded lending commitments, January 1</td><td>—</td><td>—</td><td>646</td><td>646</td></tr><tr><td>Provision for unfunded lending commitments</td><td>—</td><td>—</td><td>16</td><td>16</td></tr><tr><td>Other<sup>-1</sup></td><td>—</td><td>—</td><td>100</td><td>100</td></tr><tr><td>Reserve for unfunded lending commitments, December 31</td><td>—</td><td>—</td><td>762</td><td>762</td></tr><tr><td>Allowance for credit losses, December 31</td><td>$2,750</td><td>$3,229</td><td>$6,020</td><td>$11,999</td></tr></table>
<table><tr><td></td><td colspan="4">2015</td></tr><tr><td>Allowance for loan and lease losses, January 1</td><td>$5,935</td><td>$4,047</td><td>$4,437</td><td>$14,419</td></tr><tr><td>Loans and leases charged off</td><td>-1,841</td><td>-3,620</td><td>-644</td><td>-6,105</td></tr><tr><td>Recoveries of loans and leases previously charged off</td><td>732</td><td>813</td><td>222</td><td>1,767</td></tr><tr><td>Net charge-offs</td><td>-1,109</td><td>-2,807</td><td>-422</td><td>-4,338</td></tr><tr><td>Write-offs of PCI loans</td><td>-808</td><td>—</td><td>—</td><td>-808</td></tr><tr><td>Provision for loan and lease losses</td><td>-70</td><td>2,278</td><td>835</td><td>3,043</td></tr><tr><td>Other<sup>-1</sup></td><td>-34</td><td>-47</td><td>-1</td><td>-82</td></tr><tr><td>Allowance for loan and lease losses, December 31</td><td>3,914</td><td>3,471</td><td>4,849</td><td>12,234</td></tr><tr><td>Reserve for unfunded lending commitments, January 1</td><td>—</td><td>—</td><td>528</td><td>528</td></tr><tr><td>Provision for unfunded lending commitments</td><td>—</td><td>—</td><td>118</td><td>118</td></tr><tr><td>Reserve for unfunded lending commitments, December 31</td><td>—</td><td>—</td><td>646</td><td>646</td></tr><tr><td>Allowance for credit losses, December 31</td><td>$3,914</td><td>$3,471</td><td>$5,495</td><td>$12,880</td></tr></table>
<table><tr><td></td><td colspan="4">2014</td></tr><tr><td>Allowance for loan and lease losses, January 1</td><td>$8,518</td><td>$4,905</td><td>$4,005</td><td>$17,428</td></tr><tr><td>Loans and leases charged off</td><td>-2,219</td><td>-4,149</td><td>-658</td><td>-7,026</td></tr><tr><td>Recoveries of loans and leases previously charged off</td><td>1,426</td><td>871</td><td>346</td><td>2,643</td></tr><tr><td>Net charge-offs</td><td>-793</td><td>-3,278</td><td>-312</td><td>-4,383</td></tr><tr><td>Write-offs of PCI loans</td><td>-810</td><td>—</td><td>—</td><td>-810</td></tr><tr><td>Provision for loan and lease losses</td><td>-976</td><td>2,458</td><td>749</td><td>2,231</td></tr><tr><td>Other<sup>-1</sup></td><td>-4</td><td>-38</td><td>-5</td><td>-47</td></tr><tr><td>Allowance for loan and lease losses, December 31</td><td>5,935</td><td>4,047</td><td>4,437</td><td>14,419</td></tr><tr><td>Reserve for unfunded lending commitments, January 1</td><td>—</td><td>—</td><td>484</td><td>484</td></tr><tr><td>Provision for unfunded lending commitments</td><td>—</td><td>—</td><td>44</td><td>44</td></tr><tr><td>Reserve for unfunded lending commitments, December 31</td><td>—</td><td>—</td><td>528</td><td>528</td></tr><tr><td>Allowance for credit losses, December 31</td><td>$5,935</td><td>$4,047</td><td>$4,965</td><td>$14,947</td></tr></table>
<table><tr><td></td><td colspan="2">December 31</td></tr><tr><td>(Dollars in millions)</td><td>2016</td><td>2015</td></tr><tr><td>By counterparty</td><td></td><td></td></tr><tr><td>Private-label securitization trustees, whole-loan investors, including third-party securitization sponsors and other<sup>-1</sup></td><td>$16,685</td><td>$16,748</td></tr><tr><td>Monolines</td><td>1,583</td><td>1,599</td></tr><tr><td>GSEs</td><td>9</td><td>17</td></tr><tr><td>Total unresolved repurchase claims by counterparty, net of duplicate claims</td><td>$18,277</td><td>$18,364</td></tr></table>
<table><tr><td>(Dollars in millions)</td><td>2016</td><td>2015</td></tr><tr><td>Sales and trading revenue</td><td></td><td></td></tr><tr><td>Fixed-income, currencies and commodities</td><td>$9,373</td><td>$7,869</td></tr><tr><td>Equities</td><td>4,017</td><td>4,335</td></tr><tr><td>Total sales and trading revenue</td><td>$13,390</td><td>$12,204</td></tr><tr><td>Sales and trading revenue, excluding net DVA<sup>-3</sup></td><td></td><td></td></tr><tr><td>Fixed-income, currencies and commodities</td><td>$9,611</td><td>$8,632</td></tr><tr><td>Equities</td><td>4,017</td><td>4,358</td></tr><tr><td>Total sales and trading revenue, excluding net DVA</td><td>$13,628</td><td>$12,990</td></tr></table>
<table><tr><td>Table 17</td><td colspan="2">Long-term Debt by Major Currency December 31</td></tr><tr><td>(Dollars in millions)</td><td>2016</td><td>2015</td></tr><tr><td>U.S. Dollar</td><td>$172,082</td><td>$190,381</td></tr><tr><td>Euro</td><td>28,236</td><td>29,797</td></tr><tr><td>British Pound</td><td>6,588</td><td>7,080</td></tr><tr><td>Japanese Yen</td><td>3,919</td><td>3,099</td></tr><tr><td>Australian Dollar</td><td>2,900</td><td>2,534</td></tr><tr><td>Canadian Dollar</td><td>1,049</td><td>1,428</td></tr><tr><td>Other</td><td>2,049</td><td>2,445</td></tr><tr><td>Total long-term debt</td><td>$216,823</td><td>$236,764</td></tr></table>

Question: What's the average of the Recoveries of loans and leases previously charged off in the years where Allowance for loan and lease losses is positive? (in million)
Answer: 883.5
Reasoning program: add(732,813), add(#0,222), add(#1,1767), divide(#2,const_4)