THE GOLDMAN SACHS GROUP, INC.  AND SUBSIDIARIES Notes to Consolidated Financial Statements Unsecured Short-term and Long-term Borrowings.
The significant inputs to the valuation of unsecured shortterm and long-term borrowings at fair value are the amount and timing of expected future cash flows, interest rates, the credit spreads of the firm, as well as commodity prices in the case of prepaid commodity transactions.
The inputs used to value the embedded derivative component of hybrid financial instruments are consistent with the inputs used to value the firm’s other derivative instruments.
See Note 7 for further information about derivatives, Note 15 for further information about unsecured short-term borrowings, and Note 16 for further information about long-term borrowings.
Certain of the firm’s unsecured short-term and long-term borrowings are classified in level 3, substantially all of which are hybrid financial instruments.
As the significant unobservable inputs used to value hybrid financial instruments primarily relate to the embedded derivative component of these borrowings, these inputs are incorporated in the firm’s derivative disclosures related to unobservable inputs in Note 7.
Customer and Other Receivables.
Customer and other receivables at fair value primarily consist of prepaid commodity transactions and transfers of assets accounted for as secured loans rather than purchases.
The significant inputs to the valuation of such receivables are commodity prices, interest rates, the amount and timing of expected future cash flows and funding spreads.
As of both December 2018 and December 2017, the firm’s level 3 customer and other receivables were not material.
Deposits.
The significant inputs to the valuation of time deposits are interest rates and the amount and timing of future cash flows.
The inputs used to value the embedded derivative component of hybrid financial instruments are consistent with the inputs used to value the firm’s other derivative instruments.
See Note 7 for further information about derivatives and Note 14 for further information about deposits.
The firm’s deposits that are classified in level 3 are hybrid financial instruments.
As the significant unobservable inputs used to value hybrid financial instruments primarily relate to the embedded derivative component of these deposits, these inputs are incorporated in the firm’s derivative disclosures related to unobservable inputs in Note 7.
Level 3 Rollforward The table below presents a summary of the changes in fair value for level 3 other financial assets and financial liabilities accounted for at fair value.
## Table 0 ##
In the table above: ‰ Changes in fair value are presented for all other financial assets and financial liabilities that are classified in level 3 as of the end of the period.
‰ Net unrealized gains/(losses) relates to instruments that were still held at period-end.
‰ Transfers between levels of the fair value hierarchy are reported at the beginning of the reporting period in which they occur.
If a financial asset or financial liability was transferred to level 3 during a reporting period, its entire gain or loss for the period is classified in level 3.
‰ For level 3 other financial assets, increases are shown as positive amounts, while decreases are shown as negative amounts.
For level 3 other financial liabilities, increases are shown as negative amounts, while decreases are shown as positive amounts.
‰ Level 3 other financial assets and financial liabilities are frequently economically hedged with cash instruments and derivatives.
Accordingly, gains or losses that are classified in level 3 can be partially offset by gains or losses attributable to level 1, 2 or 3 cash instruments or derivatives.
As a result, gains or losses included in the level 3 rollforward below do not necessarily represent the overall impact on the firm’s results of operations, liquidity or capital resources.
THE GOLDMAN SACHS GROUP, INC.  AND SUBSIDIARIES Notes to Consolidated Financial Statements When it is determined that the firm cannot reasonably estimate expected cash flows on PCI loans or pools of loans, such loans are placed on nonaccrual status.
Allowance for Credit Losses The firm’s allowance for credit losses consists of the allowance for losses on loans and lending commitments.
The firm’s allowance for loan losses consists of specific loan-level reserves, portfolio level reserves and reserves on PCI loans, as described below: ‰ Specific loan-level reserves are determined on loans (excluding PCI loans) that exhibit credit quality weakness and are therefore individually evaluated for impairment.
‰ Portfolio level reserves are determined on loans (excluding PCI loans) not evaluated for specific loan-level reserves by aggregating groups of loans with similar risk characteristics and estimating the probable loss inherent in the portfolio.
‰ Reserves on PCI loans are recorded when it is determined that the expected cash flows, which are reassessed on a quarterly basis, will be lower than those used to establish the current effective yield for such loans or pools of loans.
If the expected cash flows are determined to be significantly higher than those used to establish the current effective yield, such increases are initially recognized as a reduction to any previously recorded allowances for loan losses and any remaining increases are recognized as interest income prospectively over the life of the loan or pools of loans as an increase to the effective yield.
The allowance for loan losses is determined using various risk factors, including industry default and loss data, current macroeconomic indicators, borrower’s capacity to meet its financial obligations, borrower’s country of risk, loan seniority and collateral type.
In addition, for loans backed by real estate, risk factors include loan to value ratio, debt service ratio and home price index.
Risk factors for consumer loans include FICO credit scores and delinquency status.
Management’s estimate of loan losses entails judgment about loan collectability at the reporting dates, and there are uncertainties inherent in those judgments.
While management uses the best information available to determine this estimate, future adjustments to the allowance may be necessary based on, among other things, changes in the economic environment or variances between actual results and the original assumptions used.
Loans are charged off against the allowance for loan losses when deemed to be uncollectible.
The firm also records an allowance for losses on lending commitments that are held for investment and accounted for on an accrual basis.
Such allowance is determined using the same methodology as the allowance for loan losses, while also taking into consideration the probability of drawdowns or funding, and is included in other liabilities.
The table below presents gross loans receivable and lending commitments by impairment methodology.
## Table 1 ##
In the table above: ‰ Gross loans receivable and lending commitments, subject to specific loan-level reserves, included $484 million as of December 2018 and $492 million as of December 2017 of impaired loans and lending commitments, which did not require a reserve as the loan was deemed to be recoverable.
‰ Gross loans receivable deemed impaired and subject to specific loan-level reserves as a percentage of total gross loans receivable was 1.0% as of December 2018 and 1.3% as of December 2017.
THE GOLDMAN SACHS GROUP, INC.  AND SUBSIDIARIES Notes to Consolidated Financial Statements Risk-Weighted Assets.
RWAs are calculated in accordance with both the Standardized Capital Rules and the Basel III Advanced Rules.
Credit Risk Credit RWAs are calculated based upon measures of exposure, which are then risk weighted under the Standardized Capital Rules and Basel III Advanced Rules: ‰ The Standardized Capital Rules apply prescribed riskweights, which depend largely on the type of counterparty.
The exposure measure for derivatives and securities financing transactions are based on specific formulas which take certain factors into consideration.
‰ Under the Basel III Advanced Rules, the firm computes risk-weights for wholesale and retail credit exposures in accordance with the Advanced Internal Ratings-Based approach.
The exposure measures for derivatives and securities financing transactions are computed utilizing internal models.
‰ For both Standardized and Basel III Advanced credit RWAs, the risk-weights for securitizations and equities are based on specific required formulaic approaches.
Market Risk RWAs for market risk in accordance with the Standardized Capital Rules and the Basel III Advanced Rules are generally consistent.
Market RWAs are calculated based on measures of exposure which include Value-at-Risk (VaR), stressed VaR, incremental risk and comprehensive risk based on internal models, and a standardized measurement method for specific risk.
‰ VaR is the potential loss in value of inventory positions, as well as certain other financial assets and financial liabilities, due to adverse market movements over a defined time horizon with a specified confidence level.
For both risk management purposes and regulatory capital calculations the firm uses a single VaR model which captures risks including those related to interest rates, equity prices, currency rates and commodity prices.
However, VaR used for regulatory capital requirements (regulatory VaR) differs from risk management VaR due to different time horizons and confidence levels (10-day and 99% for regulatory VaR vs.  one-day and 95% for risk management VaR), as well as differences in the scope of positions on which VaR is calculated.
In addition, the daily net revenues used to determine risk management VaR exceptions (i. e. , comparing the daily net revenues to the VaR measure calculated as of the end of the prior business day) include intraday activity, whereas the FRB’s regulatory capital rules require that intraday activity be excluded from daily net revenues when calculating regulatory VaR exceptions.
Intraday activity includes bid/ offer net revenues, which are more likely than not to be positive by their nature.
As a result, there may be differences in the number of VaR exceptions and the amount of daily net revenues calculated for regulatory VaR compared to the amounts calculated for risk management VaR.
The firm’s positional losses observed on a single day exceeded its 99% one-day regulatory VaR on two occasions during 2018 and did not exceed its 99% one-day regulatory VaR during 2017.
There was no change in the VaR multiplier used to calculate Market RWAs; ‰ Stressed VaR is the potential loss in value of inventory positions, as well as certain other financial assets and financial liabilities, during a period of significant market stress; ‰ Incremental risk is the potential loss in value of non-securitized inventory positions due to the default or credit migration of issuers of financial instruments over a one-year time horizon; ‰ Comprehensive risk is the potential loss in value, due to price risk and defaults, within the firm’s credit correlation positions; and ‰ Specific risk is the risk of loss on a position that could result from factors other than broad market movements, including event risk, default risk and idiosyncratic risk.
The standardized measurement method is used to determine specific risk RWAs, by applying supervisory defined risk-weighting factors after applicable netting is performed.
Operational Risk Operational RWAs are only required to be included under the Basel III Advanced Rules.
The firm utilizes an internal risk-based model to quantify Operational RWAs.
The tables below present information about RWAs.
## Table 2 ##
THE GOLDMAN SACHS GROUP, INC.  AND SUBSIDIARIES Management’s Discussion and Analysis Commissions and fees in the consolidated statements of earnings were $3.20 billion for 2018, 5% higher than 2017, reflecting an increase in our listed cash equity and futures volumes, generally consistent with market volumes.
Market making revenues in the consolidated statements of earnings were $9.45 billion for 2018, 23% higher than 2017, due to significantly higher revenues in equity products, interest rate products and commodities.
These increases were partially offset by significantly lower results in mortgages and lower revenues in credit products.
Other principal transactions revenues in the consolidated statements of earnings were $5.82 billion for 2018, 2% lower than 2017, reflecting net losses from investments in public equities compared with net gains in the prior year, partially offset by significantly higher net gains from investments in private equities, driven by company-specific events, including sales, and corporate performance.
Net Interest Income.
Net interest income in the consolidated statements of earnings was $3.77 billion for 2018, 28% higher than 2017, reflecting an increase in interest income primarily due to the impact of higher interest rates on collateralized agreements, other interest-earning assets and deposits with banks, increases in total average loans receivable and financial instruments owned, and higher yields on financial instruments owned and loans receivable.
The increase in interest income was partially offset by higher interest expense primarily due to the impact of higher interest rates on other interest-bearing liabilities, collateralized financings, deposits and long-term borrowings, and increases in total average long-term borrowings and deposits.
See “Statistical Disclosures — Distribution of Assets, Liabilities and Shareholders’ Equity” for further information about our sources of net interest income.2017 versus 2016 Net revenues in the consolidated statements of earnings were $32.73 billion for 2017, 6% higher than 2016, due to significantly higher other principal transactions revenues, and higher investment banking revenues, investment management revenues and net interest income.
These increases were partially offset by significantly lower market making revenues and lower commissions and fees.
Non-Interest Revenues.
Investment banking revenues in the consolidated statements of earnings were $7.37 billion for 2017, 18% higher than 2016.
Revenues in financial advisory were higher compared with 2016, reflecting an increase in completed mergers and acquisitions transactions.
Revenues in underwriting were significantly higher compared with 2016, due to significantly higher revenues in both debt underwriting, primarily reflecting an increase in industry-wide leveraged finance activity, and equity underwriting, reflecting an increase in industry-wide secondary offerings.
Investment management revenues in the consolidated statements of earnings were $5.80 billion for 2017, 7% higher than 2016, due to higher management and other fees, reflecting higher average assets under supervision, and higher transaction revenues.
Commissions and fees in the consolidated statements of earnings were $3.05 billion for 2017, 5% lower than 2016, reflecting a decline in our listed cash equity volumes in the U. S.  Market volumes in the U. S.  also declined.
Market making revenues in the consolidated statements of earnings were $7.66 billion for 2017, 23% lower than 2016, due to significantly lower revenues in commodities, currencies, credit products, interest rate products and equity derivative products.
These results were partially offset by significantly higher revenues in equity cash products and significantly improved results in mortgages.
Other principal transactions revenues in the consolidated statements of earnings were $5.91 billion for 2017, 75% higher than 2016, primarily reflecting a significant increase in net gains from private equities, which were positively impacted by company-specific events and corporate performance.
In addition, net gains from public equities were significantly higher, as global equity prices increased during the year.
Net Interest Income.
Net interest income in the consolidated statements of earnings was $2.93 billion for 2017, 13% higher than 2016, reflecting an increase in interest income primarily due to the impact of higher interest rates on collateralized agreements, higher interest income from loans receivable due to higher yields and an increase in total average loans receivable, an increase in total average financial instruments owned, and the impact of higher interest rates on other interest-earning assets and deposits with banks.
The increase in interest income was partially offset by higher interest expense primarily due to the impact of higher interest rates on other interest-bearing liabilities, an increase in total average long-term borrowings, and the impact of higher interest rates on interest-bearing deposits, short-term borrowings and collateralized financings.
See “Statistical Disclosures — Distribution of Assets, Liabilities and Shareholders’ Equity” for further information about our sources of net interest income.
Provision for Credit Losses Provision for credit losses consists of provision for credit losses on loans receivable and lending commitments held for investment.
See Note 9 to the consolidated financial statements for further information about the provision for credit losses.
The table below presents the provision for credit losses

Tables referenced above, in order (Table 0 first):
<table><tr><td></td><td colspan="2">Year Ended December</td></tr><tr><td><i>$ in millions</i></td><td>2018</td><td>2017</td></tr><tr><td> Total other financial assets</td><td></td><td></td></tr><tr><td>Beginning balance</td><td>$ 4</td><td>$ 55</td></tr><tr><td>Net unrealized gains/(losses)</td><td>2</td><td>–</td></tr><tr><td>Purchases</td><td>–</td><td>1</td></tr><tr><td>Settlements</td><td>–</td><td>-52</td></tr><tr><td> Ending balance</td><td>$ 6</td><td>$ 4</td></tr><tr><td> Total other financial liabilities</td><td></td><td></td></tr><tr><td>Beginning balance</td><td>$-15,462</td><td>$-14,979</td></tr><tr><td>Net realized gains/(losses)</td><td>-491</td><td>-362</td></tr><tr><td>Net unrealized gains/(losses)</td><td>2,013</td><td>-1,047</td></tr><tr><td>Purchases</td><td>–</td><td>-3</td></tr><tr><td>Sales</td><td>–</td><td>1</td></tr><tr><td>Issuances</td><td>-11,935</td><td>-8,382</td></tr><tr><td>Settlements</td><td>7,010</td><td>6,859</td></tr><tr><td>Transfers into level 3</td><td>-1,416</td><td>-611</td></tr><tr><td>Transfers out of level 3</td><td>884</td><td>3,062</td></tr><tr><td> Ending balance</td><td>$-19,397</td><td>$-15,462</td></tr></table>
<table><tr><td><i>$ in millions</i></td><td>Specific</td><td>Portfolio</td><td>PCI</td><td>Total</td></tr><tr><td> As of December 2018</td><td></td><td></td><td></td><td></td></tr><tr><td> Loans Receivable</td><td></td><td></td><td></td><td></td></tr><tr><td>Corporate loans</td><td> $358</td><td> $ 36,925</td><td> $ –</td><td> $ 37,283</td></tr><tr><td>PWM loans</td><td> 46</td><td> 17,173</td><td> –</td><td> 17,219</td></tr><tr><td>Commercial real estate loans</td><td> 9</td><td> 10,851</td><td> 581</td><td> 11,441</td></tr><tr><td>Residential real estate loans</td><td> 425</td><td> 4,402</td><td> 2,457</td><td> 7,284</td></tr><tr><td>Consumer loans</td><td> –</td><td> 4,536</td><td> –</td><td> 4,536</td></tr><tr><td>Other loans</td><td> –</td><td> 3,889</td><td> 4</td><td> 3,893</td></tr><tr><td> Total</td><td> $838</td><td> $ 77,776</td><td> $3,042</td><td> $ 81,656</td></tr><tr><td> Lending Commitments</td><td></td><td></td><td></td><td></td></tr><tr><td>Corporate</td><td> $ 31</td><td> $113,453</td><td> $ –</td><td> $113,484</td></tr><tr><td>Other</td><td> –</td><td> 7,513</td><td> –</td><td> 7,513</td></tr><tr><td> Total</td><td> $ 31</td><td> $120,966</td><td> $ –</td><td> $120,997</td></tr><tr><td>As of December 2017</td><td></td><td></td><td></td><td></td></tr><tr><td> Loans Receivable</td><td></td><td></td><td></td><td></td></tr><tr><td>Corporate loans</td><td>$377</td><td>$ 30,372</td><td>$ –</td><td>$ 30,749</td></tr><tr><td>PWM loans</td><td>163</td><td>16,428</td><td>–</td><td>16,591</td></tr><tr><td>Commercial real estate loans</td><td>–</td><td>6,871</td><td>1,116</td><td>7,987</td></tr><tr><td>Residential real estate loans</td><td>231</td><td>2,676</td><td>3,327</td><td>6,234</td></tr><tr><td>Consumer loans</td><td>–</td><td>1,912</td><td>–</td><td>1,912</td></tr><tr><td>Other loans</td><td>74</td><td>3,179</td><td>10</td><td>3,263</td></tr><tr><td>Total</td><td>$845</td><td>$ 61,438</td><td>$4,453</td><td>$ 66,736</td></tr><tr><td> Lending Commitments</td><td></td><td></td><td></td><td></td></tr><tr><td>Corporate</td><td>$ 53</td><td>$118,500</td><td>$ –</td><td>$118,553</td></tr><tr><td>Other</td><td>–</td><td>5,951</td><td>–</td><td>5,951</td></tr><tr><td>Total</td><td>$ 53</td><td>$124,451</td><td>$ –</td><td>$124,504</td></tr></table>
<table><tr><td></td><td colspan="2">Standardized Capital Rules as of December</td></tr><tr><td><i>$ in millions</i></td><td> 2018</td><td>2017</td></tr><tr><td> Credit RWAs</td><td></td><td></td></tr><tr><td>Derivatives</td><td> $122,511</td><td>$126,076</td></tr><tr><td>Commitments, guarantees and loans</td><td> 160,305</td><td>145,104</td></tr><tr><td>Securities financing transactions</td><td> 66,363</td><td>77,962</td></tr><tr><td>Equity investments</td><td> 53,563</td><td>48,155</td></tr><tr><td>Other</td><td> 70,596</td><td>70,933</td></tr><tr><td> Total Credit RWAs</td><td> 473,338</td><td>468,230</td></tr><tr><td> Market RWAs</td><td></td><td></td></tr><tr><td>Regulatory VaR</td><td> 7,782</td><td>7,532</td></tr><tr><td>Stressed VaR</td><td> 27,952</td><td>32,753</td></tr><tr><td>Incremental risk</td><td> 10,469</td><td>8,441</td></tr><tr><td>Comprehensive risk</td><td> 2,770</td><td>2,397</td></tr><tr><td>Specific risk</td><td> 25,599</td><td>36,258</td></tr><tr><td> Total Market RWAs</td><td> 74,572</td><td>87,381</td></tr><tr><td> Total RWAs</td><td> $547,910</td><td>$555,611</td></tr></table>

Question: What will Corporate loans be like in 2019 if it develops with the same increasing rate as current? (in million)
Answer: 45205.4
Reasoning program: subtract(37283,30749), divide(#0,30749), add(1,#1), multiply(#2,37283)