Credit Ratings Citigroup’s funding and liquidity, funding capacity, ability to access capital markets and other sources of funds, the cost of these funds and its ability to maintain certain deposits are partially dependent on its credit ratings.
The table below shows the ratings for Citigroup and Citibank as of December 31, 2018.
While not included in the table below, the long- and short-term ratings of Citigroup Global Markets Holding Inc.  (CGMHI) were BBB+/A-2 at Standard & Poor’s and A/F1 at Fitch as of December 31, 2018.
## Table 0 ##
Recent Credit Ratings Developments On November 29, 2018, Moody’s placed the long-term ratings of Citigroup and Citibank, N. A.  on “Review for Possible Upgrade.
” Over the course of the review period, Moody’s will assess, among other things, Citi’s ability to achieve its medium-term efficiency and profitability targets while maintaining strong governance and risk controls.
On February 21, 2019, Moody’s upgraded the ratings for long-term debt, deposits and counterparty risk of Citigroup and certain of its subsidiaries, as well as the baseline credit assessment (BCA) of Citibank, N. A.
In addition, Moody’s affirmed all short-term ratings and assessments of Citigroup and those subsidiaries.
The ratings outlook was changed to “Stable” from “Review for Possible Upgrade.
” Potential Impacts of Ratings Downgrades Ratings downgrades by Moody’s, Fitch or S&P could negatively impact Citigroup’s and/or Citibank’s funding and liquidity due to reduced funding capacity, including derivative triggers, which could take the form of cash obligations and collateral requirements.
The following information is provided for the purpose of analyzing the potential funding and liquidity impact to Citigroup and Citibank of a hypothetical, simultaneous ratings downgrade across all three major rating agencies.
This analysis is subject to certain estimates, estimation methodologies, judgments and uncertainties.
Uncertainties include potential ratings limitations that certain entities may have with respect to permissible counterparties, as well as general subjective counterparty behavior.
For example, certain corporate customers and markets counterparties could re-evaluate their business relationships with Citi and limit transactions in certain contracts or market instruments with Citi.
Changes in counterparty behavior could impact Citi’s funding and liquidity, as well as the results of operations of certain of its businesses.
The actual impact to Citigroup or Citibank is unpredictable and may differ materially from the potential funding and liquidity impacts described below.
For additional information on the impact of credit rating changes on Citi and its applicable subsidiaries, see “Risk Factors—Liquidity Risks” above.
Citigroup Inc.  and Citibank—Potential Derivative Triggers As of December 31, 2018, Citi estimates that a hypothetical one-notch downgrade of the senior debt/long-term rating of Citigroup Inc.  across all three major rating agencies could impact Citigroup’s funding and liquidity due to derivative triggers by approximately $0.2 billion, compared to $0.4 billion as of September 30, 2018.
Other funding sources, such as secured financing transactions and other margin requirements, for which there are no explicit triggers, could also be adversely affected.
As of December 31, 2018, Citi estimates that a hypothetical onenotch downgrade of the senior debt/long-term rating of Citibank across all three major rating agencies could impact Citibank’s funding and liquidity by approximately $0.5 billion, compared to $1.2 billion as of September 30, 2018.
In total, Citi estimates that a one-notch downgrade of Citigroup and Citibank, across all three major rating agencies, could result in increased aggregate cash obligations and collateral requirements of approximately $0.7 billion, compared to $1.6 billion as of September 30, 2018 (see also Note 22 to the Consolidated Financial Statements).
As detailed under “HighQuality Liquid Assets” above, the liquidity resources that are eligible for inclusion in the calculation of Citi’s consolidated HQLA were approximately $339billion for Citibank and $65 billion for Citi’s non-bank and other entities, for a total of approximately $404 billion as of December 31, 2018.
These liquidity resources are available in part as a contingency for the potential events described above.
In addition, a broad range of mitigating actions are currently included in Citigroup’s and Citibank’s contingency funding plans.
For Citigroup, these mitigating factors include, but are not limited to, accessing surplus funding capacity from existing clients, tailoring levels of secured lending and adjusting the size of select trading books and collateralized borrowings from certain Citibank subsidiaries.
Mitigating actions available to Citibank include, but are not limited to, selling or financing highly liquid government securities, tailoring levels of secured lending, adjusting the size of select trading assets, reducing loan originations and renewals, raising additional deposits or borrowing from the FHLB or central banks.
Citi believes these mitigating actions could substantially reduce the funding and liquidity risk, if any, of the potential downgrades described above.
6.
PRINCIPAL TRANSACTIONS Citi’s Principal transactions revenue consists of realized and unrealized gains and losses from trading activities.
Trading activities include revenues from fixed income, equities, credit and commodities products and foreign exchange transactions that are managed on a portfolio basis characterized by primary risk.
Not included in the table below is the impact of net interest revenue related to trading activities, which is an integral part of trading activities’ profitability.
For additional information regarding Principal transactions revenue, see Note?4 to the Consolidated Financial Statements for information about net interest revenue related to trading activities.
Principal transactions include CVA (credit valuation adjustments on derivatives) and FVA (funding valuation adjustments) on over-the-counter derivatives.
These adjustments are discussed further in Note 24 to the Consolidated Financial Statements.
The following table presents Principal transactions revenue:
## Table 1 ##
(1) Includes revenues from government securities and corporate debt, municipal securities, mortgage securities and other debt instruments.
Also includes spot and forward trading of currencies and exchange-traded and over-the-counter (OTC) currency options, options on fixed income securities, interest rate swaps, currency swaps, swap options, caps and floors, financial futures, OTC options and forward contracts on fixed income securities.
(2) Includes revenues from foreign exchange spot, forward, option and swap contracts, as well as foreign currency translation (FX translation) gains and losses.
(3) Includes revenues from common, preferred and convertible preferred stock, convertible corporate debt, equity-linked notes and exchange-traded and OTC equity options and warrants.
(4) Primarily includes revenues from crude oil, refined oil products, natural gas and other commodities trades.
(5) Includes revenues from structured credit products.
Additional Consumer and Corporate Credit Details Loans Outstanding
## Table 2 ##
(1)Loans secured primarily by real estate.
(2)Unearned income on consumer loans primarily represents unamortized origination fees, costs, premiums and discounts.
Prior to December 31, 2015, these items were more than offset by prepaid interest on loans outstanding issued by OneMain Financial.
The sale of OneMain Financial was completed in 2015.
(3)Unearned income on corporate loans primarily represents interest received in advance, but not yet earned on loans originated on a discount basis.
(4)All periods exclude loans that are carried at fair value.

Tables referenced above, in order (Table 0 first):
<table><tr><td></td><td colspan="3">Citigroup Inc.</td><td colspan="3">Citibank, N.A.</td></tr><tr><td>Ratings as of December 31, 2018</td><td>Seniordebt</td><td>Commercialpaper</td><td>Outlook</td><td>Long-term</td><td>Short-term</td><td>Outlook</td></tr><tr><td>Fitch Ratings (Fitch)</td><td>A</td><td>F1</td><td>Stable</td><td>A+</td><td>F1</td><td>Stable</td></tr><tr><td>Moody’s Investors Service (Moody’s)</td><td>Baa1</td><td>P-2</td><td>Under review</td><td>A1</td><td>P-1</td><td>Underreview</td></tr><tr><td>Standard & Poor’s (S&P)</td><td>BBB+</td><td>A-2</td><td>Stable</td><td>A+</td><td>A-1</td><td>Stable</td></tr></table>
<table><tr><td>In millions of dollars</td><td>2018</td><td>2017</td><td>2016</td></tr><tr><td>Interest rate risks<sup>-1</sup></td><td>$5,186</td><td>$5,301</td><td>$4,229</td></tr><tr><td>Foreign exchange risks<sup>-2</sup></td><td>1,423</td><td>2,435</td><td>1,699</td></tr><tr><td>Equity risks<sup>-3</sup></td><td>1,346</td><td>525</td><td>330</td></tr><tr><td>Commodity and other risks<sup>-4</sup></td><td>662</td><td>425</td><td>899</td></tr><tr><td>Credit products and risks<sup>-5</sup></td><td>445</td><td>789</td><td>700</td></tr><tr><td>Total</td><td>$9,062</td><td>$9,475</td><td>$7,857</td></tr></table>
<table><tr><td></td><td colspan="5">December 31,</td></tr><tr><td>In millions of dollars</td><td>2018</td><td>2017</td><td>2016</td><td>2015</td><td>2014</td></tr><tr><td>Consumer loans</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>In U.S. offices</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Mortgage and real estate<sup>-1</sup></td><td>$60,127</td><td>$65,467</td><td>$72,957</td><td>$80,281</td><td>$96,533</td></tr><tr><td>Installment, revolving credit and other</td><td>3,398</td><td>3,398</td><td>3,395</td><td>3,480</td><td>14,450</td></tr><tr><td>Cards</td><td>143,788</td><td>139,006</td><td>132,654</td><td>112,800</td><td>112,982</td></tr><tr><td>Commercial and industrial</td><td>8,256</td><td>7,840</td><td>7,159</td><td>6,407</td><td>5,895</td></tr><tr><td>Total</td><td>$215,569</td><td>$215,711</td><td>$216,165</td><td>$202,968</td><td>$229,860</td></tr><tr><td>In offices outside the U.S.</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Mortgage and real estate<sup>-1</sup></td><td>$43,379</td><td>$44,081</td><td>$42,803</td><td>$47,062</td><td>$54,462</td></tr><tr><td>Installment, revolving credit and other</td><td>27,609</td><td>26,556</td><td>24,887</td><td>29,480</td><td>31,128</td></tr><tr><td>Cards</td><td>25,400</td><td>26,257</td><td>23,783</td><td>27,342</td><td>32,032</td></tr><tr><td>Commercial and industrial</td><td>17,773</td><td>20,238</td><td>16,568</td><td>17,410</td><td>18,294</td></tr><tr><td>Lease financing</td><td>49</td><td>76</td><td>81</td><td>362</td><td>546</td></tr><tr><td>Total</td><td>$114,210</td><td>$117,208</td><td>$108,122</td><td>$121,656</td><td>$136,462</td></tr><tr><td>Total consumer loans</td><td>$329,779</td><td>$332,919</td><td>$324,287</td><td>$324,624</td><td>$366,322</td></tr><tr><td>Unearned income<sup>-2</sup></td><td>708</td><td>737</td><td>776</td><td>830</td><td>-679</td></tr><tr><td>Consumer loans, net of unearned income</td><td>$330,487</td><td>$333,656</td><td>$325,063</td><td>$325,454</td><td>$365,643</td></tr><tr><td>Corporate loans</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>In U.S. offices</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Commercial and industrial</td><td>$52,063</td><td>$51,319</td><td>$49,586</td><td>$46,011</td><td>$39,542</td></tr><tr><td>Financial institutions</td><td>48,447</td><td>39,128</td><td>35,517</td><td>36,425</td><td>36,324</td></tr><tr><td>Mortgage and real estate<sup>-1</sup></td><td>50,124</td><td>44,683</td><td>38,691</td><td>32,623</td><td>27,959</td></tr><tr><td>Installment, revolving credit and other</td><td>33,247</td><td>33,181</td><td>34,501</td><td>33,423</td><td>29,246</td></tr><tr><td>Lease financing</td><td>1,429</td><td>1,470</td><td>1,518</td><td>1,780</td><td>1,758</td></tr><tr><td>Total</td><td>$185,310</td><td>$169,781</td><td>$159,813</td><td>$150,262</td><td>$134,829</td></tr><tr><td>In offices outside the U.S.</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Commercial and industrial</td><td>$94,701</td><td>$93,750</td><td>$81,882</td><td>$82,689</td><td>$83,506</td></tr><tr><td>Financial institutions</td><td>36,837</td><td>35,273</td><td>26,886</td><td>28,704</td><td>33,269</td></tr><tr><td>Mortgage and real estate<sup>-1</sup></td><td>7,376</td><td>7,309</td><td>5,363</td><td>5,106</td><td>6,031</td></tr><tr><td>Installment, revolving credit and other</td><td>25,684</td><td>22,638</td><td>19,965</td><td>20,853</td><td>19,259</td></tr><tr><td>Lease financing</td><td>103</td><td>190</td><td>251</td><td>303</td><td>419</td></tr><tr><td>Governments and official institutions</td><td>4,520</td><td>5,200</td><td>5,850</td><td>4,911</td><td>2,236</td></tr><tr><td>Total</td><td>$169,221</td><td>$164,360</td><td>$140,197</td><td>$142,566</td><td>$144,720</td></tr><tr><td>Total corporate loans</td><td>$354,531</td><td>$334,141</td><td>$300,010</td><td>$292,828</td><td>$279,549</td></tr><tr><td>Unearned income<sup>-3</sup></td><td>-822</td><td>-763</td><td>-704</td><td>-665</td><td>-557</td></tr><tr><td>Corporate loans, net of unearned income</td><td>$353,709</td><td>$333,378</td><td>$299,306</td><td>$292,163</td><td>$278,992</td></tr><tr><td>Total loans—net of unearned income</td><td>$684,196</td><td>$667,034</td><td>$624,369</td><td>$617,617</td><td>$644,635</td></tr><tr><td>Allowance for loan losses—on drawn exposures</td><td>-12,315</td><td>-12,355</td><td>-12,060</td><td>-12,626</td><td>-15,994</td></tr><tr><td>Total loans—net of unearned incomeand allowance for credit losses</td><td>$671,881</td><td>$654,679</td><td>$612,309</td><td>$604,991</td><td>$628,641</td></tr><tr><td>Allowance for loan losses as a percentage of total loans—net of unearned income<sup>-4</sup></td><td>1.81%</td><td>1.86%</td><td>1.94%</td><td>2.06%</td><td>2.50%</td></tr><tr><td>Allowance for consumer loan losses as a percentage oftotal consumer loans—net of unearned income<sup>-4</sup></td><td>3.01%</td><td>2.96%</td><td>2.88%</td><td>3.02%</td><td>3.71%</td></tr><tr><td>Allowance for corporate loan losses as a percentage oftotal corporate loans—net of unearned income<sup>-4</sup></td><td>0.67%</td><td>0.76%</td><td>0.91%</td><td>0.97%</td><td>0.90%</td></tr></table>

Question: What's the average of Equity risks of 2018, and Commercial and industrial In U.S. offices of December 31, 2015 ?
Answer: 23678.5
Reasoning program: add(1346.0,46011.0), divide(#0,const_2)