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CMBS inventories are now atabout $fifteen billion away from that (inaudible) billion that we recorded as currentmortgage stock balances. After we consider the $fifteen billion I will level outthat of that the largest the vast majority are fairly quick-time period floating ratecommercial loans.
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Company-large VAR at the end of the quarter increasedsignificantly to $sixty nine million when calculated from the August 31, 2007 volume.Although the company reduced positions and challenges in the quarter, the increaseon VAR is mostly the results of the numerous rise in current market volatilityduring the quarter and the impact from the Williams transaction which closedduring the period.
So, I'm assuming It is most likely rather shaken. And after that probably as par of that,communicate somewhat about variations you guys have created the bolster risk managementpractices that can help make sure you fellas are kind of far more protective from the decline likethis going forward?
Partly offsetting the losses from our credit history investing businesseswere enhancement within our leverage finance space, which rebounded through the poorresults throughout the sequential quarter.
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Very well, the vast majority of drop while in the fairness revenues arrived fromthe drop in structured fairness revenues. Now, we experienced a record quarter in thethird quarter, fourth quarter. Client volumes were not terrible, but the marketwas exceptionally volatile, and we had reduced overall performance from our SCP location as aresult.
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So, that is not included in that 250 range, and I feel youwill see some decline in People numbers going forward.
I think We've got taken the actions that we have to get rightnow. As I stated, we will continue to watch the surroundings and, to the extentthings transform or turn into more difficult, we will consider supplemental actionsnecessary.
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