Mitigation and Hedging of Risk Financial institutions’ financial performance is subject to some degree of risk due to changes in interest rates.
In order to manage these risks effectively, Citigroup may modify pricing on new customer loans and deposits, enter into transactions with other institutions or enter into off-balance-sheet derivative transactions that have the opposite risk exposures.
Thus, Citigroup regularly assesses the viability of strategies to reduce unacceptable risks to earnings and implements such strategies when it believes those actions are prudent.
As information becomes available, Citigroup formulates strategies aimed at protecting earnings from the potential negative effects of changes in interest rates.
Citigroup employs additional measurements, including stress testing the impact of non-linear interest rate movements on the value of the balance sheet; the analysis of portfolio duration and volatility, particularly as they relate to mortgage loans and mortgage-backed securities; and the potential impact of the change in the spread between different market indices.
Non-Trading Portfolios The exposures in the following table represent the approximate annualized risk to NIR assuming an unanticipated parallel instantaneous 100 bps change, as well as a more gradual 100 bps (25 bps per quarter) parallel change in rates compared with the market forward interest rates in selected currencies.
## Table 0 ##
NM Not meaningful A 100 bps decrease in interest rates would imply negative rates for the yield curve.
The changes in the U. S.  dollar IRE from the prior year reflect revised modeling of mortgages and deposits based on lower rates, pricing changes due to the CARD Act, asset sales, debt issuance and swapping activities, as well as repositioning of the liquidity portfolio.
Certain trading-oriented businesses within Citi have accrual-accounted positions that are excluded from the table above.
The U. S.  dollar IRE associated with these businesses is $(79) million for a 100 basis point instantaneous increase in interest rates.
The following table shows the risk to NIR from six different changes in the implied-forward rates.
Each scenario assumes that the rate change will occur on a gradual basis every three months over the course of one year.
## Table 1 ##
?
Other operations fees represent various revenue streams, including cardholder services, compliance and penalty fees, holograms, user pay for a variety of account and transaction enhancement services, and manuals and publications.
Significant components of the increase in other operations fees were as follows: ?
Our account enhancement program, implemented in the second quarter of 2007, coupled with increased usage resulted in revenue increases of $36 million and $24 million in 2008 and 2007, respectively.  ?
Pricing for retail purchases in the U. S.  by non-U.
S.  cardholders increased in January 2008.
This price increase, coupled with an increase in retail purchase volumes, resulted in a revenue increase of $44 million in 2008.  ?
Cardholder services increased $21 million and $7 million in 2008 and 2007, respectively, due to an increase in affluent account growth.  ?
Rebates relating to operations fees are primarily based on transactions and volumes and, accordingly, increase as these variables increase.
Rebates also have been increasing due to ongoing consolidation of our customers and the impact of restructured pricing.
Rebates as a percentage of gross operations fees were 8.7%, 10.0% and 9.6% in 2008, 2007 and 2006, respectively.
During 2008, MasterCard had reduced rebates for certain customers that did not achieve contractual performance hurdles.
Accordingly, these reductions in rebates decreased rebates as a percentage of gross operations fees.
Assessments Assessments are revenues that are calculated based on our customers’ GDV.
The components of assessments are as follows:
## Table 2 ##
Gross assessments grew partially due to GDV growth of approximately 10.7% and 14.4% in 2008 and 2007, respectively, when measured in local currency terms and 11.5% and 18.4%, respectively, when measured on a U. S.  dollar converted basis.
Assessment revenues are impacted by the overall strengthening or weakening of the U. S.  dollar and euro compared to the foreign currencies of the related local volumes in each period.
In October 2008, we increased certain assessment fees and introduced a new assessment fee to acquirers in Europe.
These price changes in October 2008 contributed approximately 2 percentage points of the percentage increase in 2008.
In 2007, gross assessments also grew due to an increase in assessable volumes for market development programs in specific countries within Europe.
In addition, revenue growth rates in 2007 were impacted by a reclassification of $31 million from assessments to currency conversion and cross-border revenues, offset by $12 million in pricing increases related to our April 2006 SEPA pricing changes.
The increase in 2007 gross assessments, excluding the impact of the reclassifications and the pricing increase, would have been 11.3%.
Rebates and incentives are primarily based on GDV but may also contain components for the issuance of new cards, launch of new programs or the execution of marketing programs.
The rebates and incentives are recorded as a reduction of gross revenue in the same period that performance occurs.
Rebates and incentives as a percentage of gross assessments were 47.4%, 48.2% and 49.9% in 2008, 2007 and 2006, respectively.
Rebates and incentives increased during 2008 and 2007 due to new and renewals of customer agreements and increased volumes for certain merchants.
However, the increase in 2008 was partially offset by reductions of rebates and incentives for certain customers that did not achieve contractual performance hurdles.
These reductions in rebates
Table of Contents Note 12.
Capital Stock Our amended and restated articles of incorporation authorize 5.0 billion shares of Class A common stock (“Common Stock”) and 500 million shares of preferred stock.
There were no preferred shares issued and outstanding at December 31, 2018, 2017 and 2016.
Shares of Common Stock issued, in treasury and outstanding were:
## Table 3 ##
Stock plan awards to employees and non-employee directors are issued from treasury shares.
At December 31, 2018, 111 million shares of Common Stock held in treasury were reserved for stock options and other stock awards.
Share Repurchase Program: Between 2013 and 2017, our Board of Directors authorized the repurchase of a total of $13.7 billion of our Common Stock through December 31, 2018.
On January 31, 2018, our Finance Committee, with authorization delegated from our Board of Directors, approved an increase of $6.0 billion in the share repurchase program, raising the authorization to $19.7 billion of Common Stock repurchases, and extended the program through December 31, 2020.
Repurchases under the program are determined by management and are wholly discretionary.
Prior to January 1, 2018, we had repurchased approximately $13.0 billion of Common Stock pursuant to this authorization.
During 2018, we repurchased approximately 47.3 million shares of Common Stock at an average cost of $42.18 per share, or an aggregate cost of approximately $2.0 billion, all of which was paid during the period.
All share repurchases were funded through available cash and commercial paper issuances.
As of December 31, 2018, we have approximately $4.7 billion in remaining share repurchase capacity.
Note 13.
Commitments and Contingencies Legal Proceedings: We routinely are involved in legal proceedings, claims and governmental inspections or investigations ("Legal Matters") arising in the ordinary course of our business.
In February 2013 and March 2014, Cadbury India Limited (now known as Mondelez India Foods Private Limited), a subsidiary of Mondelēz International, and other parties received show cause notices from the Indian Central Excise Authority (the “Excise Authority”) calling upon the parties to demonstrate why the Excise Authority should not collect a total of 3.7 billion Indian rupees ($54 million as of December 31, 2018) of unpaid excise tax and an equivalent amount of penalties, as well as interest, related to production at the same Indian facility.
We contested these demands for unpaid excise taxes, penalties and interest.
On March 27, 2015, after several hearings, the Commissioner of the Excise Authority issued an order denying the excise exemption that we claimed for the Indian facility and confirming the Excise Authority’s demands for total taxes and penalties in the amount of 5.8 billion Indian rupees ($84 million as of December 31, 2018) plus accrued interest.
We have appealed this order.
In addition, the Excise Authority issued additional show cause notices in February 2015, December 2015 and October 2017 on the same issue but covering the periods January to October 2014, November 2014 to September 2015 and October 2015 to June 2017, respectively.
These notices added a total of 4.9 billion Indian rupees ($70 million as of December 31, 2018) of allegedly unpaid excise taxes subject to penalties up to an equivalent amount plus accrued interest.
Interest will continue to accrue until the matters are resolved.
With the implementation of the new
Table of Contents break claims from the rest of the case and denied our motion to decertify the waiting time claims.
The District Court also ordered that a trial be held on the waiting time and overtime claims, which commenced on March 8, 2010.
During trial, the parties reached an agreement to settle all of the claims in the litigation, including the rest break claims, for $4 million.
The District Court held a hearing on May 14, 2010 and advised the parties that it would grant preliminary approval of the settlement.
Once the Court enters an order granting preliminary approval of the settlement, the members of the class will have 60 days from the date of preliminary approval to submit claims or object to the settlement.
A hearing has been scheduled for August 20, 2010 for the District Court to determine if final approval of the settlement should be granted.
In connection with this settlement, the Company recorded a $4 million reserve against its expected loss exposure during the fourth quarter of Fiscal 2010.
Other Matters We are otherwise involved, from time to time, in litigation, other legal claims and proceedings involving matters associated with or incidental to our business, including, among other things, matters involving credit card fraud, trademark and other intellectual property, licensing, and employee relations.
We believe that the resolution of currently pending matters will not individually or in the aggregate have a material adverse effect on our financial condition or results of operations.
However, our assessment of the current litigation or other legal claims could change in light of the discovery of facts not presently known to us or determinations by judges, juries or other finders of fact which are not in accord with management’s evaluation of the possible liability or outcome of such litigation or claims.
PART II Item 5.
Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities.
Our Class A common stock is traded on the New York Stock Exchange (“NYSE”) under the symbol “RL.
” The following table sets forth the high and low sales prices per share of the Class A common stock, as reported on the NYSE Composite Tape, and the cash dividends per common share declared for each quarterly period in our two most recent fiscal years:

Tables referenced above, in order (Table 0 first):
<table><tr><td></td><td>Scenario 1</td><td>Scenario 2</td><td>Scenario 3</td><td>Scenario 4</td><td>Scenario 5</td><td>Scenario 6</td></tr><tr><td>Overnight rate change (bps)</td><td>—</td><td>100</td><td>200</td><td>-200</td><td>-100</td><td>—</td></tr><tr><td>10-year rate change (bps)</td><td>-100</td><td>—</td><td>100</td><td>-100</td><td>—</td><td>100</td></tr><tr><td>Impact to net interest revenue(in millions of dollars)</td><td>$-135</td><td>$61</td><td>$-39</td><td>NM</td><td>NM</td><td>$-21</td></tr></table>
<table><tr><td></td><td colspan="2">December 31, 2010</td><td colspan="2">December 31, 2009</td></tr><tr><td>In millions of dollars</td><td>Increase</td><td>Decrease</td><td>Increase</td><td>Decrease</td></tr><tr><td>U.S. dollar</td><td></td><td></td><td></td><td></td></tr><tr><td>Instantaneous change</td><td>$-105</td><td>NM</td><td>$-859</td><td>NM</td></tr><tr><td>Gradual change</td><td>25</td><td>NM</td><td>-460</td><td>NM</td></tr><tr><td>Mexican peso</td><td></td><td></td><td></td><td></td></tr><tr><td>Instantaneous change</td><td>$181</td><td>$-181</td><td>$50</td><td>$-50</td></tr><tr><td>Gradual change</td><td>107</td><td>-107</td><td>26</td><td>-26</td></tr><tr><td>Euro</td><td></td><td></td><td></td><td></td></tr><tr><td>Instantaneous change</td><td>$-10</td><td>$-38</td><td>$85</td><td>NM</td></tr><tr><td>Gradual change</td><td>-8</td><td>8</td><td>47</td><td>NM</td></tr><tr><td>Japanese yen</td><td></td><td></td><td></td><td></td></tr><tr><td>Instantaneous change</td><td>$93</td><td>NM</td><td>$200</td><td>NM</td></tr><tr><td>Gradual change</td><td>52</td><td>NM</td><td>116</td><td>NM</td></tr><tr><td>Pound sterling</td><td></td><td></td><td></td><td></td></tr><tr><td>Instantaneous change</td><td>$33</td><td>$-20</td><td>$-11</td><td>NM</td></tr><tr><td>Gradual change</td><td>21</td><td>-21</td><td>-6</td><td>NM</td></tr></table>
<table><tr><td></td><td colspan="3">For the Years Ended December 31,</td><td colspan="2">Dollar Increase (Decrease)</td><td colspan="2"> Percent Increase (Decrease)</td></tr><tr><td></td><td>2008</td><td>2007</td><td>2006</td><td>2008</td><td>2007</td><td>2008</td><td> 2007</td></tr><tr><td></td><td colspan="7"> (In millions, except percentages)</td></tr><tr><td>Gross assessments</td><td>$2,345</td><td>$2,056</td><td>$1,790</td><td>$289</td><td>$266</td><td>14.1%</td><td>14.9%</td></tr><tr><td>Rebates and incentives</td><td>-1,112</td><td>-992</td><td>-894</td><td>-120</td><td>-98</td><td>12.1%</td><td>11.0%</td></tr><tr><td>Net assessments</td><td>$1,233</td><td>$1,064</td><td>$896</td><td>$169</td><td>$168</td><td>15.9%</td><td>18.8%</td></tr></table>
<table><tr><td></td><td>Shares Issued</td><td>Treasury Shares</td><td>SharesOutstanding</td></tr><tr><td>Balance at January 1, 2016</td><td>1,996,537,778</td><td>- 416,504,624</td><td>1,580,033,154</td></tr><tr><td>Shares repurchased</td><td>—</td><td>- 61,972,713</td><td>- 61,972,713</td></tr><tr><td>Exercise of stock options and issuance ofother stock awards</td><td>—</td><td>10,305,100</td><td>10,305,100</td></tr><tr><td>Balance at December 31, 2016</td><td>1,996,537,778</td><td>- 468,172,237</td><td>1,528,365,541</td></tr><tr><td>Shares repurchased</td><td>—</td><td>- 50,598,902</td><td>- 50,598,902</td></tr><tr><td>Exercise of stock options and issuance ofother stock awards</td><td>—</td><td>10,369,445</td><td>10,369,445</td></tr><tr><td>Balance at December 31, 2017</td><td>1,996,537,778</td><td>- 508,401,694</td><td>1,488,136,084</td></tr><tr><td>Shares repurchased</td><td>—</td><td>- 47,258,884</td><td>- 47,258,884</td></tr><tr><td>Exercise of stock options and issuance ofother stock awards</td><td>—</td><td>10,122,655</td><td>10,122,655</td></tr><tr><td>Balance at December 31, 2018</td><td>1,996,537,778</td><td>- 545,537,923</td><td>1,450,999,855</td></tr></table>

Question: What is the ratio of Gradual change to the total for U.S. dollar in 2010 for Increase?
Answer: -0.05435
Reasoning program: divide(25,-460)