1.0.0.3falseGoodwill and other intangible assetsfalse1$falsefalseSharesStandardhttp://www.xbrl.org/2003/instancesharesxbrli0USDStandardhttp://www.xbrl.org/2003/iso4217USDiso42170USDEPSDividehttp://www.xbrl.org/2003/iso4217USDiso4217http://www.xbrl.org/2003/instancesharesxbrli020jpm_GoodwillAndOtherIntangibleAssetsAbstractjpmfalsenadurationstringGoodwill and other intangible asset.falsefalsefalsefalsefalsetruefalsefalsefalse1falsefalse00falsefalseGoodwill and other intangible asset.false31jpm_GoodwillAndOtherIntangibleAssetsTextBlockjpmfalsenadurationstringDiscloses the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable...falsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalse00<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" -->
<!-- Begin Block Tagged Note 17 - jpm:GoodwillAndOtherIntangibleAssetsTextBlock-->
<div style="font-family: Helvetica,Arial,sans-serif">
<div style="position: relative">
<div align="left" style="font-size: 12pt; margin-top: 12pt"><b>Note
17 – Goodwill and other intangible assets</b>
</div>
<div align="left" style="font-size: 10pt; margin-top: 6pt">Goodwill and other intangible assets consist of the following.
</div>
<div align="center">
<table style="font-size: 8pt; text-align: left" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<tr valign="bottom">
<td width="64%"> </td>
<td width="5%"> </td>
<td width="1%"> </td>
<td width="5%"> </td>
<td width="1%"> </td>
<td width="5%"> </td>
<td width="1%"> </td>
<td width="5%"> </td>
<td width="1%"> </td>
<td width="5%"> </td>
<td width="1%"> </td>
<td width="5%"> </td>
<td width="1%"> </td>
</tr>
<tr style="font-size: 8pt" valign="bottom">
<td nowrap="nowrap" align="left">December 31, (in millions)</td>
<td> </td>
<td nowrap="nowrap" align="right" colspan="2"><b>2009</b></td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="right" colspan="2">2008</td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="right" colspan="2">2007</td>
<td> </td>
</tr>
<!-- End Table Head -->
<!-- Begin Table Body -->
<tr style="font-size: 1px">
<td colspan="13" align="left" style="border-top: 1px solid #000000"> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:15px; text-indent:-15px">Goodwill
</div></td>
<td> </td>
<td align="left"><b>$</b></td>
<td align="right"><b>48,357</b></td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">48,027</td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">45,270</td>
<td> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:15px; text-indent:-15px">Mortgage servicing rights
</div></td>
<td> </td>
<td> </td>
<td align="right"><b>15,531</b></td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">9,403</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">8,632</td>
<td> </td>
</tr>
<tr style="font-size: 1px">
<td colspan="13" align="left" style="border-top: 1px solid #000000"> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:15px; text-indent:-15px">Other intangible assets:
</div></td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:30px; text-indent:-15px">Purchased credit card relationships
</div></td>
<td> </td>
<td align="left"><b>$</b></td>
<td align="right"><b>1,246</b></td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">1,649</td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">2,303</td>
<td> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:30px; text-indent:-15px">Other credit card–related intangibles
</div></td>
<td> </td>
<td> </td>
<td align="right"><b>691</b></td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">743</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">346</td>
<td> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:30px; text-indent:-15px">Core deposit intangibles
</div></td>
<td> </td>
<td> </td>
<td align="right"><b>1,207</b></td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">1,597</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">2,067</td>
<td> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:30px; text-indent:-15px">Other intangibles
</div></td>
<td> </td>
<td> </td>
<td align="right"><b>1,477</b></td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">1,592</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">1,383</td>
<td> </td>
</tr>
<tr style="font-size: 1px">
<td colspan="13" align="left" style="border-top: 1px solid #000000"> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:15px; text-indent:-15px"><b>Total other intangible assets</b>
</div></td>
<td> </td>
<td align="left"><b>$</b></td>
<td align="right"><b>4,621</b></td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">5,581</td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">6,099</td>
<td> </td>
</tr>
<tr style="font-size: 1px">
<td colspan="13" align="left" style="border-top: 2px solid #000000"> </td>
</tr>
<!-- End Table Body -->
</table>
</div>
<div align="left" style="font-size: 10pt; margin-top: 12pt"><b>Goodwill</b>
</div>
<div align="left" style="font-size: 10pt; margin-top: 0pt">Goodwill is recorded upon completion of a business combination as the difference between the
purchase price and the fair value of the net assets acquired. Other intangible assets are recorded
at their fair value upon completion of a business combination or certain other transactions, and
generally represent the value of customer relationships or arrangements.
</div>
<div align="left" style="font-size: 10pt; margin-top: 6pt">The increase in goodwill during 2009 was primarily due to final purchase accounting adjustments
related to the Bear Stearns merger, and the acquisition of a commodities business, each primarily
allocated to IB, and foreign currency translation adjustments related to the Firm’s Canadian credit
card operations, which were allocated to Card Services. The increase in goodwill during 2008 was
primarily due to the dissolution of the Chase Paymentech Solutions joint venture
(allocated to Card Services), the merger with Bear Stearns, the purchase of an additional equity
interest in Highbridge and tax-related purchase accounting adjustments associated with the Bank One
merger (which were primarily attributed to IB).
</div>
<div align="left" style="font-size: 10pt; margin-top: 6pt">The goodwill associated with each business combination is allocated to the related reporting units,
which are determined based on how the Firm’s businesses are managed and how they are reviewed by
the Firm’s Operating Committee. The following table presents goodwill attributed to the business
segments.
</div>
</div>
<div style="position: relative">
<div align="center">
<table style="font-size: 8pt; text-align: left" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<tr valign="bottom">
<td width="64%"> </td>
<td width="5%"> </td>
<td width="1%"> </td>
<td width="5%"> </td>
<td width="1%"> </td>
<td width="5%"> </td>
<td width="1%"> </td>
<td width="5%"> </td>
<td width="1%"> </td>
<td width="5%"> </td>
<td width="1%"> </td>
<td width="5%"> </td>
<td width="1%"> </td>
</tr>
<tr style="font-size: 8pt" valign="bottom">
<td nowrap="nowrap" align="left">December 31, (in millions)</td>
<td> </td>
<td nowrap="nowrap" align="right" colspan="2"><b>2009</b></td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="right" colspan="2">2008</td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="right" colspan="2">2007</td>
<td> </td>
</tr>
<!-- End Table Head -->
<!-- Begin Table Body -->
<tr style="font-size: 1px">
<td colspan="13" align="left" style="border-top: 1px solid #000000"> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:15px; text-indent:-15px">Investment Bank
</div></td>
<td> </td>
<td align="left"><b>$</b></td>
<td align="right"><b>4,959</b></td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">4,765</td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">3,578</td>
<td> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:15px; text-indent:-15px">Retail Financial Services
</div></td>
<td> </td>
<td> </td>
<td align="right"><b>16,831</b></td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">16,840</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">16,848</td>
<td> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:15px; text-indent:-15px">Card Services
</div></td>
<td> </td>
<td> </td>
<td align="right"><b>14,134</b></td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">13,977</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">12,810</td>
<td> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:15px; text-indent:-15px">Commercial Banking
</div></td>
<td> </td>
<td> </td>
<td align="right"><b>2,868</b></td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">2,870</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">2,873</td>
<td> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:15px; text-indent:-15px">Treasury & Securities Services
</div></td>
<td> </td>
<td> </td>
<td align="right"><b>1,667</b></td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">1,633</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">1,660</td>
<td> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:15px; text-indent:-15px">Asset Management
</div></td>
<td> </td>
<td> </td>
<td align="right"><b>7,521</b></td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">7,565</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">7,124</td>
<td> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:15px; text-indent:-15px">Corporate/Private Equity
</div></td>
<td> </td>
<td> </td>
<td align="right"><b>377</b></td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">377</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">377</td>
<td> </td>
</tr>
<tr style="font-size: 1px">
<td colspan="13" align="left" style="border-top: 1px solid #000000"> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:15px; text-indent:-15px"><b>Total goodwill</b>
</div></td>
<td> </td>
<td align="left"><b>$</b></td>
<td align="right"><b>48,357</b></td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">48,027</td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">45,270</td>
<td> </td>
</tr>
<tr style="font-size: 1px">
<td colspan="13" align="left" style="border-top: 2px solid #000000"> </td>
</tr>
<!-- End Table Body -->
</table>
</div>
<div align="left" style="font-size: 10pt; margin-top: 6pt">The following table presents changes in the carrying amount of goodwill.
</div>
<div align="center">
<table style="font-size: 8pt; text-align: left" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<tr valign="bottom">
<td width="88%"> </td>
<td width="5%"> </td>
<td width="1%"> </td>
<td width="5%"> </td>
<td width="1%"> </td>
</tr>
<tr style="font-size: 8pt" valign="bottom">
<td nowrap="nowrap" align="left">(in millions)</td>
<td> </td>
<td nowrap="nowrap" align="right" colspan="2">Total</td>
<td> </td>
</tr>
<!-- End Table Head -->
<!-- Begin Table Body -->
<tr style="font-size: 1px">
<td colspan="5" align="left" style="border-top: 1px solid #000000"> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:15px; text-indent:-15px">Balance at December 31, 2007<sup style="font-size: 85%; vertical-align: text-top">(a)</sup>:
</div></td>
<td> </td>
<td align="left">$</td>
<td align="right">45,270</td>
<td> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:15px; text-indent:-15px">Changes during 2008 from:
</div></td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:30px; text-indent:-15px">Business combinations
</div></td>
<td> </td>
<td> </td>
<td align="right">2,481</td>
<td> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:30px; text-indent:-15px">Dispositions
</div></td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right">(38</td>
<td nowrap="nowrap">)</td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:30px; text-indent:-15px">Other<sup style="font-size: 85%; vertical-align: text-top">(b)</sup>
</div></td>
<td> </td>
<td> </td>
<td align="right">314</td>
<td> </td>
</tr>
<tr style="font-size: 1px">
<td colspan="5" align="left" style="border-top: 1px solid #000000"> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:15px; text-indent:-15px">Balance at December 31, 2008<sup style="font-size: 85%; vertical-align: text-top">(a)</sup>:
</div></td>
<td> </td>
<td align="left">$</td>
<td align="right">48,027</td>
<td> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:15px; text-indent:-15px"><b>Changes during 2009 from:</b>
</div></td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:30px; text-indent:-15px"><b>Business combinations</b>
</div></td>
<td> </td>
<td> </td>
<td align="right"><b>271</b></td>
<td> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:30px; text-indent:-15px"><b>Dispositions</b>
</div></td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="right">—</td>
<td> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:30px; text-indent:-15px"><b>Other</b><sup style="font-size: 85%; vertical-align: text-top">(b)</sup>
</div></td>
<td> </td>
<td> </td>
<td align="right"><b>59</b></td>
<td> </td>
</tr>
<tr style="font-size: 1px">
<td colspan="5" align="left" style="border-top: 1px solid #000000"> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:15px; text-indent:-15px"><b>Balance at December 31, 2009</b><sup style="font-size: 85%; vertical-align: text-top">(a)</sup>
</div></td>
<td> </td>
<td align="left"><b>$</b></td>
<td align="right"><b>48,357</b></td>
<td> </td>
</tr>
<tr style="font-size: 1px">
<td colspan="5" align="left" style="border-top: 1px solid #000000"> </td>
</tr>
<!-- End Table Body -->
</table>
</div>
<div style="margin-top: 3pt">
<table width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 8pt; text-align: left">
<tr>
<td width="3%"></td>
<td width="1%"></td>
<td width="96"></td>
</tr>
<tr valign="top">
<td nowrap="nowrap" align="left">(a)</td>
<td> </td>
<td>Reflects gross goodwill balances as the Firm has not recognized any impairment losses to
date.</td>
</tr>
<tr style="font-size: 0pt">
<td> </td>
</tr>
<tr valign="top">
<td nowrap="nowrap" align="left">(b)</td>
<td> </td>
<td>Includes foreign currency translation adjustments and other tax-related adjustments.</td>
</tr>
</table>
</div>
<div align="left" style="font-size: 10pt; margin-top: 12pt"><i>Impairment Testing</i>
</div>
<div align="left" style="font-size: 10pt; margin-top: 0pt">Subsequent to initial recognition, goodwill is tested for impairment during the fourth quarter of
each fiscal year, or more often if events or circumstances, such as adverse changes in the business
climate, indicate there may be impairment. Goodwill was not impaired at December 31, 2009 or 2008,
nor was any goodwill written off due to impairment during 2009, 2008 or 2007.
</div>
<div align="left" style="font-size: 10pt; margin-top: 6pt">The goodwill impairment test is performed in two steps. In the first step, the current fair value
of each reporting unit is compared with its carrying value, including goodwill. If the fair value
is in excess of the carrying value (including goodwill), then the reporting unit’s goodwill is
considered not to be impaired. If the fair value is less than the carrying value (including
goodwill), then a second step is performed. In the second step, the implied current fair value of
the reporting unit’s goodwill is determined by comparing the fair value of the reporting unit (as
determined in step one) to the fair value of the net assets
of the reporting unit, as if the reporting unit were being acquired in a business combination. The
resulting implied current fair value of goodwill is then compared with the carrying value of the
reporting unit’s goodwill. If the carrying value of the goodwill exceeds its implied current fair
value, then an impairment charge is recognized for the excess. If the carrying value of goodwill is
less than its implied current fair value, then no goodwill impairment is recognized.
</div>
<div align="left" style="font-size: 10pt; margin-top: 6pt">The primary method the Firm uses to estimate the fair value of its reporting units is the income
approach. The models project levered cash flows for the forecast period and use the perpetuity
growth method to calculate terminal values. These cash flows and terminal values are then
discounted using an appropriate discount rate. Projections of cash flows are based on the reporting
units’ forecasts and reviewed with the Operating Committee of the Firm. The Firm’s cost of equity
is determined using the Capital Asset Pricing Model, which
is consistent with methodologies and
assumptions the Firm uses when advising clients. The discount rate used for each reporting unit
represents an estimate of the cost of equity capital for that reporting unit and is determined
based on the Firm’s overall cost of equity, as adjusted for the risk characteristics specific to
each reporting unit, for example, for higher levels of risk or uncertainty associated with the
business or management’s forecasts and assumptions. To assess the reasonableness of the discount
rates used for each reporting unit, management compares the discount rate to the estimated cost of
equity for publicly traded institutions with similar businesses and risk characteristics. In
addition, the weighted average cost of equity (aggregating the various reporting units) is compared
with the Firms’ overall cost of equity to ensure reasonableness.
</div>
<div align="left" style="font-size: 10pt; margin-top: 6pt">The valuations derived from the discounted cash flow models are then compared with market-based
trading and transaction multiples for relevant competitors. Precise conclusions generally can not
be drawn from these comparisons due to the differences that naturally exist between the Firm’s
businesses and competitor institutions. However, trading and transaction comparables are used as
general indicators to assess the general reasonableness of the estimated fair values. Management
also takes into consideration a comparison between the aggregate fair value of the Firm’s reporting
units and JPMorgan Chase’s market capitalization. In evaluating this comparison, management
considers several factors, including (a) a control premium that would exist in a market
transaction, (b) factors related to the level of execution risk that would exist at the firm-wide
level that do not exist at the reporting unit level and (c) short-term market volatility and other
factors that do not directly affect the value of individual reporting units.
</div>
<div align="left" style="font-size: 10pt; margin-top: 6pt">While no impairment of goodwill was recognized during 2009, the Firm’s consumer lending businesses
in RFS and Card Services have elevated risk of potential goodwill impairment due to their exposure
to U.S. consumer credit risk. The valuation of these businesses are particularly dependent upon
economic conditions (including unemployment rates, and home prices) and potential legislative and
regulatory changes that affect consumer credit risk and their business models. The assumptions used
in the discounted cash flow models for these businesses, and the values of the associated net
assets, were determined using management’s best estimates, and the cost of equity reflected the
risk and uncertainty for these businesses and was evaluated in comparison to relevant market peers.
Deterioration in these assumptions could cause the estimated fair values of these reporting units or their associated goodwill to
decline, which may result in a material impairment charge to earnings in a future period related to
some portion of their associated goodwill.
</div>
</div>
<div style="position: relative">
<div align="left" style="font-size: 10pt; margin-top: 12pt"><b>Mortgage servicing rights</b>
</div>
<div align="left" style="font-size: 10pt; margin-top: 0pt">Mortgage servicing rights represent the fair value of future cash flows for performing specified
mortgage servicing activities (predominantly with respect to residential mortgage) for others. MSRs
are either purchased from third parties or retained upon sale or securitization of mortgage loans.
Servicing activities include collecting principal, interest, and escrow payments from borrowers;
making tax and insurance payments on behalf of borrowers; monitoring delinquencies and executing
foreclosure proceedings; and accounting for and remitting principal and interest payments to the
investors of the mortgage-backed securities.
</div>
<div align="left" style="font-size: 10pt; margin-top: 6pt">The Firm has one class of servicing assets. JPMorgan Chase made this determination based on the
availability of market inputs used to measure its MSR asset at fair value and its treatment of MSRs
as one aggregate pool for risk management purposes. As permitted by U.S. GAAP, the Firm elected to
account for this one class of servicing assets at fair value. The Firm estimates the fair value of
MSRs using an option-adjusted spread model (“OAS”), which projects MSR cash flows over multiple
interest rate scenarios in conjunction with the Firm’s prepayment model and then discounts these
cash flows at risk-adjusted rates. The model considers portfolio characteristics, contractually
specified servicing fees, prepayment assumptions, delinquency rates, late charges, other ancillary
revenue and costs to service, and other economic factors. The Firm reassesses and periodically
adjusts the underlying inputs and assumptions used in the OAS model to reflect market conditions
and assumptions that a market participant would consider in valuing the MSR asset. During 2009 and
2008, the Firm continued to refine its proprietary prepayment model based on a number of
market-related factors, including a downward trend in home prices, general tightening of credit
underwriting standards and the associated impact on refinancing activity. The Firm compares fair
value estimates and assumptions to observable market data where available, and to recent market
activity and actual portfolio experience.
</div>
<div align="left" style="font-size: 10pt; margin-top: 6pt">The fair value of MSRs is sensitive to changes in interest rates, including their effect on
prepayment speeds. JPMorgan Chase uses or has used combinations of derivatives and securities to
manage changes in the fair value of MSRs. The intent is to offset any changes in the fair value of
MSRs with changes in the fair value of the related risk management instruments. MSRs decrease in
value when interest rates decline. Conversely, securities (such as mortgage-backed securities),
principal-only certificates and certain derivatives (when the Firm receives fixed-rate interest
payments) increase in value when interest rates decline.
</div>
</div>
<div align="center">
<table style="font-size: 8pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<tr valign="bottom">
<td width="47%"></td>
<td width="5%"></td>
<td width="47%"></td>
</tr>
<!-- End Table Head -->
<!-- Begin Table Body -->
<tr valign="bottom" style="line-height: 6pt">
<!-- Blank Space -->
<td align="left" valign="top"></td>
<td></td>
<td align="right" valign="top"></td>
</tr>
<tr valign="bottom">
<td align="left" valign="top"></td>
<td></td>
<td align="right" valign="top"></td>
</tr>
<!-- End Table Body -->
</table>
</div>
<!-- Folio -->
<!-- /Folio -->
</div>
<!-- PAGEBREAK -->
<div style="font-family: Helvetica,Arial,sans-serif">
<div align="left" style="font-size: 12pt; margin-top: 0pt">
<b>
</b>
</div>
<div style="position: relative">
<div align="left" style="font-size: 10pt; margin-top: 6pt">The following table summarizes MSR activity for the years ended December 31, 2009, 2008 and 2007.
</div>
<div align="center">
<table style="font-size: 8pt; text-align: left" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<tr valign="bottom">
<td width="64%"> </td>
<td width="5%"> </td>
<td width="1%"> </td>
<td width="5%"> </td>
<td width="1%"> </td>
<td width="5%"> </td>
<td width="1%"> </td>
<td width="5%"> </td>
<td width="1%"> </td>
<td width="5%"> </td>
<td width="1%"> </td>
<td width="5%"> </td>
<td width="1%"> </td>
</tr>
<tr style="font-size: 8pt" valign="bottom">
<td nowrap="nowrap" align="left">Year ended December 31,</td>
<td> </td>
<td nowrap="nowrap" align="right" colspan="2"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="right" colspan="2"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="right" colspan="2"> </td>
<td> </td>
</tr>
<tr style="font-size: 8pt" valign="bottom">
<td nowrap="nowrap" align="left">(in millions, except where otherwise noted)</td>
<td> </td>
<td nowrap="nowrap" align="right" colspan="2"><b>2009</b></td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="right" colspan="2">2008</td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="right" colspan="2">2007</td>
<td> </td>
</tr>
<!-- End Table Head -->
<!-- Begin Table Body -->
<tr style="font-size: 1px">
<td colspan="13" align="left" style="border-top: 1px solid #000000"> </td>
</tr>
<tr valign="bottom" style="line-height: 4pt"><!-- Blank Space -->
<td>
<div style="margin-left:15px; text-indent:-15px"> 
</div></td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:15px; text-indent:-15px"><b>Fair value at beginning
of period</b>
</div></td>
<td> </td>
<td align="left"><b>$</b></td>
<td align="right"><b>9,403</b></td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">8,632</td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">7,546</td>
<td> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:15px; text-indent:-15px">MSR activity
</div></td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:15px; text-indent:-15px">Originations of MSRs
</div></td>
<td> </td>
<td> </td>
<td align="right"><b>3,615</b></td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">3,061</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">2,335</td>
<td> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:15px; text-indent:-15px">Purchase of MSRs
</div></td>
<td> </td>
<td> </td>
<td align="right"><b>2</b></td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right">6,755</td>
<td nowrap="nowrap"><sup style="font-size: 85%; vertical-align: text-top">(d)</sup></td>
<td> </td>
<td> </td>
<td align="right">798</td>
<td> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:15px; text-indent:-15px">Disposition of MSRs
</div></td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right"><b>(10</b></td>
<td nowrap="nowrap"><b>)</b></td>
<td> </td>
<td> </td>
<td align="right">—</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">—</td>
<td> </td>
</tr>
<tr style="font-size: 1px">
<td colspan="13" align="left" style="border-top: 2px solid #000000"> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:15px; text-indent:-15px"><b>Total net additions</b>
</div></td>
<td> </td>
<td> </td>
<td align="right"><b>3,607</b></td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">9,816</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">3,133</td>
<td> </td>
</tr>
<tr valign="bottom" style="line-height: 4pt"><!-- Blank Space -->
<td>
<div style="margin-left:15px; text-indent:-15px"> 
</div></td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:15px; text-indent:-15px">Change in valuation due to inputs and assumptions<sup style="font-size: 85%; vertical-align: text-top">(a)</sup>
</div></td>
<td> </td>
<td> </td>
<td align="right"><b>5,807</b></td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right">(6,933</td>
<td nowrap="nowrap">)</td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right">(516</td>
<td nowrap="nowrap">)</td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:15px; text-indent:-15px">Other changes in fair value<sup style="font-size: 85%; vertical-align: text-top">(b)</sup>
</div></td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right"><b>(3,286</b></td>
<td nowrap="nowrap">)</td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right">(2,112</td>
<td nowrap="nowrap">)</td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right">(1,531</td>
<td nowrap="nowrap">)</td>
</tr>
<tr style="font-size: 1px">
<td colspan="13" align="left" style="border-top: 1px solid #000000"> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:15px; text-indent:-15px">Total change in fair value of MSRs
</div></td>
<td> </td>
<td> </td>
<td align="right"><b>2,521</b></td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right">(9,045</td>
<td nowrap="nowrap">)</td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right">(2,047</td>
<td nowrap="nowrap">)</td>
</tr>
<tr style="font-size: 1px">
<td colspan="13" align="left" style="border-top: 1px solid #000000"> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:15px; text-indent:-15px"><b>Fair value at December 31</b>
</div></td>
<td> </td>
<td nowrap="nowrap" align="left"><b>$</b></td>
<td align="right"><b>15,531</b></td>
<td nowrap="nowrap"><sup style="font-size: 85%; vertical-align: text-top">(c)</sup></td>
<td> </td>
<td nowrap="nowrap" align="left">$</td>
<td align="right">9,403</td>
<td nowrap="nowrap"><sup style="font-size: 85%; vertical-align: text-top">(c)</sup></td>
<td> </td>
<td align="left">$</td>
<td align="right">8,632</td>
<td> </td>
</tr>
<tr style="font-size: 1px">
<td colspan="13" align="left" style="border-top: 1px solid #000000"> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:15px; text-indent:-15px">Change in unrealized gains/ (losses) included in
income related to MSRs held at
December 31
</div></td>
<td> </td>
<td align="left"><b>$</b></td>
<td align="right"><b>5,807</b></td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="left">$</td>
<td align="right">(6,933</td>
<td nowrap="nowrap">)</td>
<td> </td>
<td nowrap="nowrap" align="left">$</td>
<td align="right">(516</td>
<td nowrap="nowrap">)</td>
</tr>
<tr style="font-size: 1px">
<td colspan="13" align="left" style="border-top: 1px solid #000000"> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:15px; text-indent:-15px">Contractual service fees, late fees and other
ancillary fees included in income
</div></td>
<td> </td>
<td align="left"><b>$</b></td>
<td align="right"><b>4,818</b></td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">3,353</td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">2,429</td>
<td> </td>
</tr>
<tr style="font-size: 1px">
<td colspan="13" align="left" style="border-top: 1px solid #000000"> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:15px; text-indent:-15px">Third-party mortgage loans serviced at December 31
(in billions)
</div></td>
<td> </td>
<td align="left"><b>$</b></td>
<td align="right"><b>1,091</b></td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">1,185</td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">615</td>
<td> </td>
</tr>
<tr style="font-size: 1px">
<td colspan="13" align="left" style="border-top: 2px solid #000000"> </td>
</tr>
<!-- End Table Body -->
</table>
</div>
<div style="margin-top: 3pt">
<table width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 8pt; text-align: left">
<tr>
<td width="3%"></td>
<td width="1%"></td>
<td width="96"></td>
</tr>
<tr valign="top">
<td nowrap="nowrap" align="left">(a)</td>
<td> </td>
<td>Represents MSR asset fair value adjustments due to changes in inputs, such as interest rates
and volatility, as well as updates to assumptions used in the valuation model. Also represents
total realized and unrealized gains/(losses) included in net income using significant
unobservable inputs (level 3).</td>
</tr>
<tr style="font-size: 0pt">
<td> </td>
</tr>
<tr valign="top">
<td nowrap="nowrap" align="left">(b)</td>
<td> </td>
<td>Includes changes in the MSR value due to modeled servicing portfolio runoff (or time decay).
Represents the impact of cash settlements using significant unobservable inputs (level 3).</td>
</tr>
<tr style="font-size: 0pt">
<td> </td>
</tr>
<tr valign="top">
<td nowrap="nowrap" align="left">(c)</td>
<td> </td>
<td>Includes $41 million and $55 million related to commercial real estate at December 31, 2009
and 2008, respectively.</td>
</tr>
<tr style="font-size: 0pt">
<td> </td>
</tr>
<tr valign="top">
<td nowrap="nowrap" align="left">(d)</td>
<td> </td>
<td>Includes MSRs acquired as a result of the Washington Mutual transaction (of which $59 million
related to commercial real estate) and the Bear Stearns merger. For further discussion, see
Note 2 on pages 143—148 of this Annual Report.</td>
</tr>
</table>
</div>
</div>
<div style="position: relative">
<div align="left" style="font-size: 10pt; margin-top: 6pt">The following table presents the components of mortgage fees and related income (including the
impact of MSR risk management activities) for the years ended December 31, 2009, 2008 and 2007.
</div>
<div align="center">
<table style="font-size: 8pt; text-align: left" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<tr valign="bottom">
<td width="64%"> </td>
<td width="5%"> </td>
<td width="1%"> </td>
<td width="5%"> </td>
<td width="1%"> </td>
<td width="5%"> </td>
<td width="1%"> </td>
<td width="5%"> </td>
<td width="1%"> </td>
<td width="5%"> </td>
<td width="1%"> </td>
<td width="5%"> </td>
<td width="1%"> </td>
</tr>
<tr style="font-size: 8pt" valign="bottom">
<td nowrap="nowrap" align="left">Year ended December 31,</td>
<td> </td>
<td nowrap="nowrap" align="right" colspan="2"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="right" colspan="2"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="right" colspan="2"> </td>
<td> </td>
</tr>
<tr style="font-size: 8pt" valign="bottom">
<td nowrap="nowrap" align="left">(in millions)</td>
<td> </td>
<td nowrap="nowrap" align="right" colspan="2"><b>2009</b></td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="right" colspan="2">2008</td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="right" colspan="2">2007</td>
<td> </td>
</tr>
<!-- End Table Head -->
<!-- Begin Table Body -->
<tr style="font-size: 1px">
<td colspan="13" align="left" style="border-top: 1px solid #000000"> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:15px; text-indent:-15px"><b>RFS net mortgage servicing revenue</b>
</div></td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:15px; text-indent:-15px">Production revenue
</div></td>
<td> </td>
<td align="left"><b>$</b></td>
<td align="right"><b>503</b></td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">898</td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">880</td>
<td> </td>
</tr>
<tr style="font-size: 1px">
<td colspan="13" align="left" style="border-top: 1px solid #000000"> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:15px; text-indent:-15px">Net mortgage servicing revenue
</div></td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:30px; text-indent:-15px">Operating revenue:
</div></td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:45px; text-indent:-15px">Loan servicing revenue
</div></td>
<td> </td>
<td> </td>
<td align="right"><b>4,942</b></td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">3,258</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">2,334</td>
<td> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:45px; text-indent:-15px">Other changes in MSR asset
fair value<sup style="font-size: 85%; vertical-align: text-top">(a)</sup>
</div></td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right"><b>(3,279</b></td>
<td nowrap="nowrap">)</td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right">(2,052</td>
<td nowrap="nowrap">)</td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right">(1,531</td>
<td nowrap="nowrap">)</td>
</tr>
<tr style="font-size: 1px">
<td colspan="13" align="left" style="border-top: 1px solid #000000"> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:30px; text-indent:-15px">Total operating revenue
</div></td>
<td> </td>
<td> </td>
<td align="right"><b>1,663</b></td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">1,206</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">803</td>
<td> </td>
</tr>
<tr style="font-size: 1px">
<td colspan="13" align="left" style="border-top: 1px solid #000000"> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:30px; text-indent:-15px">Risk management:
</div></td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:45px; text-indent:-15px">Changes in MSR asset fair
value due to inputs or assumptions in model<sup style="font-size: 85%; vertical-align: text-top">(b)</sup>
</div></td>
<td> </td>
<td> </td>
<td align="right"><b>5,804</b></td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right">(6,849</td>
<td nowrap="nowrap">)</td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right">(516</td>
<td nowrap="nowrap">)</td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:45px; text-indent:-15px">Derivative valuation adjust-
ments and other
</div></td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right"><b>(4,176</b></td>
<td nowrap="nowrap">)</td>
<td> </td>
<td> </td>
<td align="right">8,366</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">927</td>
<td> </td>
</tr>
<tr style="font-size: 1px">
<td colspan="13" align="left" style="border-top: 1px solid #000000"> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:30px; text-indent:-15px">Total risk management
</div></td>
<td> </td>
<td> </td>
<td align="right"><b>1,628</b></td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">1,517</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">411</td>
<td> </td>
</tr>
<tr style="font-size: 1px">
<td colspan="13" align="left" style="border-top: 1px solid #000000"> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:15px; text-indent:-15px"><b>Total RFS net mortgage servicing revenue</b>
</div></td>
<td> </td>
<td> </td>
<td align="right"><b>3,291</b></td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">2,723</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">1,214</td>
<td> </td>
</tr>
<tr style="font-size: 1px">
<td colspan="13" align="left" style="border-top: 1px solid #000000"> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:15px; text-indent:-15px">All other<sup style="font-size: 85%; vertical-align: text-top">(c)</sup>
</div></td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right"><b>(116</b></td>
<td nowrap="nowrap">)</td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right">(154</td>
<td nowrap="nowrap">)</td>
<td> </td>
<td> </td>
<td align="right">24</td>
<td> </td>
</tr>
<tr style="font-size: 1px">
<td colspan="13" align="left" style="border-top: 1px solid #000000"> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:15px; text-indent:-15px"><b>Mortgage fees and related income</b>
</div></td>
<td> </td>
<td align="left"><b>$</b></td>
<td align="right"><b>3,678</b></td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">3,467</td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">2,118</td>
<td> </td>
</tr>
<tr style="font-size: 1px">
<td colspan="13" align="left" style="border-top: 1px solid #000000"> </td>
</tr>
<!-- End Table Body -->
</table>
</div>
<div style="margin-top: 3pt">
<table width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 8pt; text-align: left">
<tr>
<td width="3%"></td>
<td width="1%"></td>
<td width="96"></td>
</tr>
<tr valign="top">
<td nowrap="nowrap" align="left">(a)</td>
<td> </td>
<td>Includes changes in the MSR value due to modeled servicing portfolio runoff (or time decay).
Represents the impact of cash settlements using significant unobservable inputs (level 3).</td>
</tr>
<tr style="font-size: 0pt">
<td> </td>
</tr>
<tr valign="top">
<td nowrap="nowrap" align="left">(b)</td>
<td> </td>
<td>Represents MSR asset fair value adjustments due to changes in inputs, such as interest rates
and volatility, as well as updates to assumptions used in the valuation model. Also represents
total realized and unrealized gains/(losses) included in net income using significant
unobservable inputs (level 3).</td>
</tr>
<tr style="font-size: 0pt">
<td> </td>
</tr>
<tr valign="top">
<td nowrap="nowrap" align="left">(c)</td>
<td> </td>
<td>Primarily represents risk management activities performed by the Chief Investment Office
(“CIO”) in the Corporate sector.</td>
</tr>
</table>
</div>
<div align="left" style="font-size: 10pt; margin-top: 6pt">The table below outlines the key economic assumptions used to determine the fair value of the
Firm’s MSRs at December 31, 2009, and 2008, respectively; it also outlines the sensitivities of
those fair values to immediate 10% and 20% adverse changes in those assumptions.
</div>
<div align="center">
<table style="font-size: 8pt; text-align: left" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<tr valign="bottom">
<td width="76%"> </td>
<td width="5%"> </td>
<td width="1%"> </td>
<td width="5%"> </td>
<td width="1%"> </td>
<td width="5%"> </td>
<td width="1%"> </td>
<td width="5%"> </td>
<td width="1%"> </td>
</tr>
<tr style="font-size: 8pt" valign="bottom">
<td nowrap="nowrap" align="left">Year ended December 31,</td>
<td> </td>
<td nowrap="nowrap" align="right" colspan="2"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="right" colspan="2"> </td>
<td> </td>
</tr>
<tr style="font-size: 8pt" valign="bottom">
<td nowrap="nowrap" align="left">(in millions, except rates)</td>
<td> </td>
<td nowrap="nowrap" align="right" colspan="2"><b>2009</b></td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="right" colspan="2">2008</td>
<td> </td>
</tr>
<!-- End Table Head -->
<!-- Begin Table Body -->
<tr style="font-size: 1px">
<td colspan="9" align="left" style="border-top: 1px solid #000000"> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:15px; text-indent:-15px">Weighted-average prepayment speed
assumption (CPR)
</div></td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right"><b>11.37</b></td>
<td nowrap="nowrap"><b>%</b></td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right">35.21</td>
<td nowrap="nowrap">%</td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:15px; text-indent:-15px">Impact on fair value of 10% adverse change
</div></td>
<td> </td>
<td nowrap="nowrap" align="left"><b>$</b></td>
<td align="right"><b>(896</b></td>
<td nowrap="nowrap">)</td>
<td> </td>
<td nowrap="nowrap" align="left">$</td>
<td align="right">(1,039</td>
<td nowrap="nowrap">)</td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:15px; text-indent:-15px">Impact on fair value of 20% adverse change
</div></td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right"><b>(1,731</b></td>
<td nowrap="nowrap"><b>)</b></td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right">(1,970</td>
<td nowrap="nowrap">)</td>
</tr>
<tr style="font-size: 1px">
<td colspan="9" align="left" style="border-top: 1px solid #000000"> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:15px; text-indent:-15px">Weighted-average option adjusted spread
</div></td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right"><b>4.63</b></td>
<td nowrap="nowrap"><b>%</b></td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right">3.80</td>
<td nowrap="nowrap">%</td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:15px; text-indent:-15px">Impact on fair value of 100 basis points
adverse change
</div></td>
<td> </td>
<td nowrap="nowrap" align="left"><b>$</b></td>
<td align="right"><b>(641</b></td>
<td nowrap="nowrap">)</td>
<td> </td>
<td nowrap="nowrap" align="left">$</td>
<td align="right">(311</td>
<td nowrap="nowrap">)</td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:15px; text-indent:-15px">Impact on fair value of 200 basis points
adverse change
</div></td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right"><b>(1,232</b></td>
<td nowrap="nowrap"><b>)</b></td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right">(606</td>
<td nowrap="nowrap">)</td>
</tr>
<tr style="font-size: 1px">
<td colspan="9" align="left" style="border-top: 1px solid #000000"> </td>
</tr>
<!-- End Table Body -->
</table>
</div>
<div align="left" style="font-size: 8pt; margin-top: 6pt">CPR: Constant prepayment rate.
</div>
<div align="left" style="font-size: 10pt; margin-top: 6pt">The sensitivity analysis in the preceding table is hypothetical and should be used with caution.
Changes in fair value based on a 10% and 20% variation in assumptions generally cannot be easily
extrapolated, because the relationship of the change in the assumptions to the change in fair value
may not be linear. Also, in this table, the effect that a change in a particular assumption may
have on the fair value is calculated without changing any other assumption. In reality, changes in
one factor may result in changes in another, which might magnify or counteract the sensitivities.
</div>
</div>
<div align="center">
<table style="font-size: 8pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<tr valign="bottom">
<td width="47%"></td>
<td width="5%"></td>
<td width="47%"></td>
</tr>
<!-- End Table Head -->
<!-- Begin Table Body -->
<tr valign="bottom" style="line-height: 6pt">
<!-- Blank Space -->
<td align="left" valign="top"></td>
<td></td>
<td align="right" valign="top"></td>
</tr>
<tr valign="bottom">
<td align="left" valign="top"></td>
<td></td>
<td align="right" valign="top"></td>
</tr>
<!-- End Table Body -->
</table>
</div>
<!-- Folio -->
<!-- /Folio -->
</div>
<!-- PAGEBREAK -->
<div style="font-family: Helvetica,Arial,sans-serif">
<div align="left" style="font-size: 10pt; margin-top: 12pt"><b>Other intangible assets</b>
</div>
<div align="left" style="font-size: 10pt; margin-top: 0pt">During 2009, purchased credit card relationships, other credit card-related intangibles, core
deposit intangibles and other intangibles
decreased $960 million, primarily reflecting amortization expense, partially offset by foreign
currency translation adjustments related to the Firm’s Canadian credit card operations.
</div>
<div align="left" style="font-size: 10pt; margin-top: 6pt">The components of credit card relationships, core deposits and other intangible assets were as
follows.
</div>
<div align="center">
<table style="font-size: 8pt; text-align: left" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<tr valign="bottom">
<td width="28%"> </td>
<td width="5%"> </td>
<td width="1%"> </td>
<td width="5%"> </td>
<td width="1%"> </td>
<td width="5%"> </td>
<td width="1%"> </td>
<td width="5%"> </td>
<td width="1%"> </td>
<td width="5%"> </td>
<td width="1%"> </td>
<td width="5%"> </td>
<td width="1%"> </td>
<td width="5%"> </td>
<td width="1%"> </td>
<td width="5%"> </td>
<td width="1%"> </td>
<td width="5%"> </td>
<td width="1%"> </td>
<td width="5%"> </td>
<td width="1%"> </td>
<td width="5%"> </td>
<td width="1%"> </td>
<td width="5%"> </td>
<td width="1%"> </td>
</tr>
<tr style="font-size: 8pt" valign="bottom">
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="10" style="border-bottom: 1px solid #000000"><b>2009</b></td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="10" style="border-bottom: 1px solid #000000">2008</td>
<td> </td>
</tr>
<tr style="font-size: 8pt" valign="bottom">
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2">Net</td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2">Net</td>
<td> </td>
</tr>
<tr style="font-size: 8pt" valign="bottom">
<td> </td>
<td> </td>
<td nowrap="nowrap" align="right" colspan="2">Gross</td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="right" colspan="2">Accumulated</td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2">carrying</td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="right" colspan="2">Gross</td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="right" colspan="2">Accumulated</td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2">carrying</td>
<td> </td>
</tr>
<tr style="font-size: 8pt" valign="bottom">
<td nowrap="nowrap" align="left">December 31, (in millions)</td>
<td> </td>
<td nowrap="nowrap" align="right" colspan="2">amount</td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="right" colspan="2">amortization</td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2">value</td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="right" colspan="2">amount</td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="right" colspan="2">amortization</td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2">value</td>
<td> </td>
</tr>
<!-- End Table Head -->
<!-- Begin Table Body -->
<tr style="font-size: 1px">
<td colspan="25" align="left" style="border-top: 1px solid #000000"> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:15px; text-indent:-15px">Purchased credit card relationships
</div></td>
<td> </td>
<td align="left"><b>$</b></td>
<td align="right"><b>5,783</b></td>
<td> </td>
<td> </td>
<td align="left"><b>$</b></td>
<td align="right"><b>4,537</b></td>
<td> </td>
<td> </td>
<td align="left"><b>$</b></td>
<td align="right"><b>1,246</b></td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">5,765</td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">4,116</td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">1,649</td>
<td> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:15px; text-indent:-15px">Other credit card–related intangibles
</div></td>
<td> </td>
<td> </td>
<td align="right"><b>894</b></td>
<td> </td>
<td> </td>
<td> </td>
<td align="right"><b>203</b></td>
<td> </td>
<td> </td>
<td> </td>
<td align="right"><b>691</b></td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">852</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">109</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">743</td>
<td> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:15px; text-indent:-15px">Core deposit intangibles
</div></td>
<td> </td>
<td> </td>
<td align="right"><b>4,280</b></td>
<td> </td>
<td> </td>
<td> </td>
<td align="right"><b>3,073</b></td>
<td> </td>
<td> </td>
<td> </td>
<td align="right"><b>1,207</b></td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">4,280</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">2,683</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">1,597</td>
<td> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:15px; text-indent:-15px">Other intangibles<sup style="font-size: 85%; vertical-align: text-top">(a)</sup>
</div></td>
<td> </td>
<td> </td>
<td align="right"><b>2,200</b></td>
<td> </td>
<td> </td>
<td> </td>
<td align="right"><b>723</b></td>
<td> </td>
<td> </td>
<td> </td>
<td align="right"><b>1,477</b></td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">2,376</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">784</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">1,592</td>
<td> </td>
</tr>
<tr style="font-size: 1px">
<td colspan="25" align="left" style="border-top: 1px solid #000000"> </td>
</tr>
<!-- End Table Body -->
</table>
</div>
<div style="margin-top: 3pt">
<table width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 8pt; text-align: left">
<tr>
<td width="3%"></td>
<td width="1%"></td>
<td width="96"></td>
</tr>
<tr valign="top">
<td nowrap="nowrap" align="left">(a)</td>
<td> </td>
<td>The decrease in other intangibles gross amount and accumulated amortization from December
2008 was primarily attributable to the removal of fully amortized assets.</td>
</tr>
</table>
</div>
<div align="left" style="font-size: 10pt; margin-top: 12pt"><b>Amortization expense</b>
</div>
<div align="left" style="font-size: 10pt; margin-top: 0pt">The Firm’s intangible assets with finite lives are amortized over their useful lives in a manner
that best reflects the economic benefits of the intangible asset. $517 million of intangible assets
related to asset management advisory contracts were determined to have an indefinite life and are
not amortized.
</div>
<div align="left" style="font-size: 10pt; margin-top: 6pt">The following table presents amortization expense related to credit card relationships, core
deposits and all other intangible assets.
</div>
<div align="center">
<table style="font-size: 8pt; text-align: left" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<tr valign="bottom">
<td width="64%"> </td>
<td width="5%"> </td>
<td width="1%"> </td>
<td width="5%"> </td>
<td width="1%"> </td>
<td width="5%"> </td>
<td width="1%"> </td>
<td width="5%"> </td>
<td width="1%"> </td>
<td width="5%"> </td>
<td width="1%"> </td>
<td width="5%"> </td>
<td width="1%"> </td>
</tr>
<tr style="font-size: 8pt" valign="bottom">
<td nowrap="nowrap" align="left">Year ended December 31, (in millions)</td>
<td> </td>
<td nowrap="nowrap" align="right" colspan="2"><b>2009</b></td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="right" colspan="2">2008</td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="right" colspan="2">2007</td>
<td> </td>
</tr>
<!-- End Table Head -->
<!-- Begin Table Body -->
<tr style="font-size: 1px">
<td colspan="13" align="left" style="border-top: 1px solid #000000"> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:15px; text-indent:-15px">Purchased credit card relationships
</div></td>
<td> </td>
<td align="left"><b>$</b></td>
<td align="right"><b>421</b></td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">625</td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">710</td>
<td> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:15px; text-indent:-15px">Other credit card–related intangibles
</div></td>
<td> </td>
<td> </td>
<td align="right"><b>94</b></td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">33</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">11</td>
<td> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:15px; text-indent:-15px">Core deposit intangibles
</div></td>
<td> </td>
<td> </td>
<td align="right"><b>390</b></td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">469</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">554</td>
<td> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:15px; text-indent:-15px">Other intangibles<sup style="font-size: 85%; vertical-align: text-top">(a)</sup>
</div></td>
<td> </td>
<td> </td>
<td align="right"><b>145</b></td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">136</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">119</td>
<td> </td>
</tr>
<tr style="font-size: 1px">
<td colspan="13" align="left" style="border-top: 1px solid #000000"> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:15px; text-indent:-15px"><b>Total amortization expense</b>
</div></td>
<td> </td>
<td align="left"><b>$</b></td>
<td align="right"><b>1,050</b></td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">1,263</td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">1,394</td>
<td> </td>
</tr>
<tr style="font-size: 1px">
<td colspan="13" align="left" style="border-top: 2px solid #000000"> </td>
</tr>
<!-- End Table Body -->
</table>
</div>
<div style="margin-top: 3pt">
<table width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 8pt; text-align: left">
<tr>
<td width="3%"></td>
<td width="1%"></td>
<td width="96"></td>
</tr>
<tr valign="top">
<td nowrap="nowrap" align="left">(a)</td>
<td> </td>
<td>Excludes amortization expense related to servicing assets on securitized automobile loans,
which is recorded in lending and deposit-related fees, of $2 million, $5 million and $9
million, for the years ended 2009, 2008, and 2007, respectively.</td>
</tr>
</table>
</div>
<div align="left" style="font-size: 10pt; margin-top: 12pt"><b>Future amortization expense</b>
</div>
<div align="left" style="font-size: 10pt; margin-top: 0pt">The following table presents estimated future amortization expense related to credit card
relationships, core deposits and all other intangible assets at December 31, 2009.
</div>
<div align="center">
<table style="font-size: 8pt; text-align: left" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<tr valign="bottom">
<td width="40%"> </td>
<td width="5%"> </td>
<td width="3%"> </td>
<td width="1%"> </td>
<td width="3%"> </td>
<td width="5%"> </td>
<td width="3%"> </td>
<td width="1%"> </td>
<td width="3%"> </td>
<td width="5%"> </td>
<td width="3%"> </td>
<td width="1%"> </td>
<td width="3%"> </td>
<td width="5%"> </td>
<td width="3%"> </td>
<td width="1%"> </td>
<td width="3%"> </td>
<td width="5%"> </td>
<td width="3%"> </td>
<td width="1%"> </td>
<td width="3%"> </td>
</tr>
<tr style="font-size: 8pt" valign="bottom">
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="3">Purchased credit</td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="3">Other credit<br />
card-related </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="3">Core deposit</td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="3">All other</td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="3"> </td>
</tr>
<tr style="font-size: 8pt" valign="bottom">
<td nowrap="nowrap" align="left">Year ended December 31, (in millions)</td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="3">card relationships</td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="3">intangibles</td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="3"> intangibles</td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="3">Intangible assets</td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="3"><b>Total</b></td>
</tr>
<!-- End Table Head -->
<!-- Begin Table Body -->
<tr style="font-size: 1px">
<td colspan="21" valign="top" align="left" style="border-top: 1px solid #000000"> </td>
</tr>
<tr valign="bottom">
<td valign="top">
<div style="margin-left:0px; text-indent:-0px">2010
</div></td>
<td> </td>
<td nowrap="nowrap" align="right" valign="top">$</td>
<td align="right" valign="top">354</td>
<td nowrap="nowrap" valign="top"> </td>
<td> </td>
<td nowrap="nowrap" align="right" valign="top">$</td>
<td align="right" valign="top">103</td>
<td nowrap="nowrap" valign="top"> </td>
<td> </td>
<td nowrap="nowrap" align="right" valign="top">$</td>
<td align="right" valign="top">329</td>
<td nowrap="nowrap" valign="top"> </td>
<td> </td>
<td nowrap="nowrap" align="right" valign="top">$</td>
<td align="right" valign="top">127</td>
<td nowrap="nowrap" valign="top"> </td>
<td> </td>
<td nowrap="nowrap" align="right" valign="top">$</td>
<td align="right" valign="top">913</td>
<td nowrap="nowrap" valign="top"> </td>
</tr>
<tr valign="bottom">
<td valign="top">
<div style="margin-left:0px; text-indent:-0px">2011
</div></td>
<td> </td>
<td nowrap="nowrap" align="right" valign="top"> </td>
<td align="right" valign="top">290</td>
<td nowrap="nowrap" valign="top"> </td>
<td> </td>
<td nowrap="nowrap" align="right" valign="top"> </td>
<td align="right" valign="top">102</td>
<td nowrap="nowrap" valign="top"> </td>
<td> </td>
<td nowrap="nowrap" align="right" valign="top"> </td>
<td align="right" valign="top">284</td>
<td nowrap="nowrap" valign="top"> </td>
<td> </td>
<td nowrap="nowrap" align="right" valign="top"> </td>
<td align="right" valign="top">117</td>
<td nowrap="nowrap" valign="top"> </td>
<td> </td>
<td nowrap="nowrap" align="right" valign="top"> </td>
<td align="right" valign="top">793</td>
<td nowrap="nowrap" valign="top"> </td>
</tr>
<tr valign="bottom">
<td valign="top">
<div style="margin-left:0px; text-indent:-0px">2012
</div></td>
<td> </td>
<td nowrap="nowrap" align="right" valign="top"> </td>
<td align="right" valign="top">252</td>
<td nowrap="nowrap" valign="top"> </td>
<td> </td>
<td nowrap="nowrap" align="right" valign="top"> </td>
<td align="right" valign="top">105</td>
<td nowrap="nowrap" valign="top"> </td>
<td> </td>
<td nowrap="nowrap" align="right" valign="top"> </td>
<td align="right" valign="top">240</td>
<td nowrap="nowrap" valign="top"> </td>
<td> </td>
<td nowrap="nowrap" align="right" valign="top"> </td>
<td align="right" valign="top">113</td>
<td nowrap="nowrap" valign="top"> </td>
<td> </td>
<td nowrap="nowrap" align="right" valign="top"> </td>
<td align="right" valign="top">710</td>
<td nowrap="nowrap" valign="top"> </td>
</tr>
<tr valign="bottom">
<td valign="top">
<div style="margin-left:0px; text-indent:-0px">2013
</div></td>
<td> </td>
<td nowrap="nowrap" align="right" valign="top"> </td>
<td align="right" valign="top">213</td>
<td nowrap="nowrap" valign="top"> </td>
<td> </td>
<td nowrap="nowrap" align="right" valign="top"> </td>
<td align="right" valign="top">104</td>
<td nowrap="nowrap" valign="top"> </td>
<td> </td>
<td nowrap="nowrap" align="right" valign="top"> </td>
<td align="right" valign="top">195</td>
<td nowrap="nowrap" valign="top"> </td>
<td> </td>
<td nowrap="nowrap" align="right" valign="top"> </td>
<td align="right" valign="top">109</td>
<td nowrap="nowrap" valign="top"> </td>
<td> </td>
<td nowrap="nowrap" align="right" valign="top"> </td>
<td align="right" valign="top">621</td>
<td nowrap="nowrap" valign="top"> </td>
</tr>
<tr valign="bottom">
<td valign="top">
<div style="margin-left:0px; text-indent:-0px">2014
</div></td>
<td> </td>
<td nowrap="nowrap" align="right" valign="top"> </td>
<td align="right" valign="top">109</td>
<td nowrap="nowrap" valign="top"> </td>
<td> </td>
<td nowrap="nowrap" align="right" valign="top"> </td>
<td align="right" valign="top">100</td>
<td nowrap="nowrap" valign="top"> </td>
<td> </td>
<td nowrap="nowrap" align="right" valign="top"> </td>
<td align="right" valign="top">106</td>
<td nowrap="nowrap" valign="top"> </td>
<td> </td>
<td nowrap="nowrap" align="right" valign="top"> </td>
<td align="right" valign="top">105</td>
<td nowrap="nowrap" valign="top"> </td>
<td> </td>
<td nowrap="nowrap" align="right" valign="top"> </td>
<td align="right" valign="top">420</td>
<td nowrap="nowrap" valign="top"> </td>
</tr>
<tr style="font-size: 1px">
<td colspan="21" valign="top" align="left" style="border-top: 1px solid #000000"> </td>
</tr>
<!-- End Table Body -->
</table>
</div>
<div style="position: relative">
<div align="left" style="font-size: 10pt"><b>Impairment</b>
</div>
<div align="left" style="font-size: 10pt; margin-top: 0pt">The Firm’s intangible assets with indefinite lives are tested for impairment on an annual basis, or
more frequently if events or changes in circumstances indicate that the asset might be impaired.
The impairment test for indefinite-lived intangible assets compares the fair value of the
intangible asset to its carrying amount. If the carrying value exceeds the
fair value, then an impairment charge is recognized for the difference. Core deposits and credit
card relationships as well as other acquired intangible assets determined to have finite lives, are
amortized over their estimated useful lives in a
manner that best reflects the economic benefits of
the intangible asset. The impairment test for a finite-lived intangible asset compares the
undiscounted cash flows associated with the use or disposition of the intangible asset to its
carrying value. If the sum of the undiscounted cash flows exceeds its carrying value, then no
impairment charge is recorded. If the sum of the undiscounted cash flows is less than its carrying
value, then an impairment charge is recognized to the extent the carrying amount of the asset
exceeds its fair value.
</div>
</div>
<div align="center">
<table style="font-size: 8pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<tr valign="bottom">
<td width="47%"></td>
<td width="5%"></td>
<td width="47%"></td>
</tr>
<!-- End Table Head -->
<!-- Begin Table Body -->
<tr valign="bottom" style="line-height: 6pt">
<!-- Blank Space -->
<td align="left" valign="top"></td>
<td></td>
<td align="right" valign="top"></td>
</tr>
<tr valign="bottom">
<td align="left" valign="top"></td>
<td></td>
<td align="right" valign="top"></td>
</tr>
<!-- End Table Body -->
</table>
</div>
<!-- Folio -->
<!-- /Folio -->
</div>
<!-- PAGEBREAK -->
<div style="font-family: Helvetica,Arial,sans-serif">
<div align="left" style="font-size: 12pt; margin-top: 0pt">
<b>
</b>
</div>
<div style="position: relative">
</div>
</div>
<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" -->
<!-- Begin Block Tagged NotefalsefalseDiscloses the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not
subject to amortization (also referred to as indefinite-lived intangible assets - i.e. servicing assets and servicing liabilities (mortgage servicing rights)), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written
off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, th total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the
carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate
amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain or loss on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated
amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and
the facts and circumstances leading to the impairment, (b) the method for determining fair value including sensitivity analyses on servicing
assets and liabilities (i.e. MSRs), (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset
is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method
of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the
nature and amount of any significant adjustments made to a previous estimate of an impairment loss. Also provides the disclosures pertaining to accounting and reporting of servicing assets and servicing liabilities, including sensitivity analyses of fair value estimates. May also discuss relevant information such as collateral; associated debt
extinguishments; restrictions on assets; and measurement and measurement assumptions. This element may be used as a single block of text to include the entire intangible asset disclosure including data and tables.No authoritative reference available.falsefalse12falseUnKnownUnKnownUnKnownfalsetrue
