pre_text: jpmorgan chase & co./2009 annual report 131 earnings-at-risk stress testing the var and stress-test measures described above illustrate the total economic sensitivity of the firm 2019s consolidated balance sheets to changes in market variables . the effect of interest rate exposure on reported net income is also important . interest rate risk exposure in the firm 2019s core nontrading business activities ( i.e. , asset/liability management positions ) results from on 2013and off 2013balance sheet positions and can occur due to a variety of factors , including : 2022 differences in the timing among the maturity or repricing of assets , liabilities and off 2013balance sheet instruments . for example , if liabilities reprice quicker than assets and funding interest rates are declining , earnings will increase initially . 2022 differences in the amounts of assets , liabilities and off 2013balance sheet instruments that are repricing at the same time . for example , if more deposit liabilities are repricing than assets when general interest rates are declining , earnings will increase initially . 2022 differences in the amounts by which short-term and long-term market interest rates change ( for example , changes in the slope of the yield curve , because the firm has the ability to lend at long-term fixed rates and borrow at variable or short- term fixed rates ) . based on these scenarios , the firm 2019s earnings would be affected negatively by a sudden and unanticipated increase in short-term rates paid on its liabilities ( e.g. , depos- its ) without a corresponding increase in long-term rates re- ceived on its assets ( e.g. , loans ) . conversely , higher long-term rates received on assets generally are beneficial to earnings , particularly when the increase is not accompanied by rising short-term rates paid on liabilities . 2022 the impact of changes in the maturity of various assets , liabili- ties or off 2013balance sheet instruments as interest rates change . for example , if more borrowers than forecasted pay down higher-rate loan balances when general interest rates are de- clining , earnings may decrease initially . the firm manages interest rate exposure related to its assets and liabilities on a consolidated , corporate-wide basis . business units transfer their interest rate risk to treasury through a transfer- pricing system , which takes into account the elements of interest rate exposure that can be risk-managed in financial markets . these elements include asset and liability balances and contrac- tual rates of interest , contractual principal payment schedules , expected prepayment experience , interest rate reset dates and maturities , rate indices used for repricing , and any interest rate ceilings or floors for adjustable rate products . all transfer-pricing assumptions are dynamically reviewed . the firm conducts simulations of changes in net interest income from its nontrading activities under a variety of interest rate scenarios . earnings-at-risk tests measure the potential change in the firm 2019s net interest income , and the corresponding impact to the firm 2019s pretax earnings , over the following 12 months . these tests highlight exposures to various rate-sensitive factors , such as the rates themselves ( e.g. , the prime lending rate ) , pricing strate- gies on deposits , optionality and changes in product mix . the tests include forecasted balance sheet changes , such as asset sales and securitizations , as well as prepayment and reinvestment behavior . immediate changes in interest rates present a limited view of risk , and so a number of alternative scenarios are also reviewed . these scenarios include the implied forward curve , nonparallel rate shifts and severe interest rate shocks on selected key rates . these scenar- ios are intended to provide a comprehensive view of jpmorgan chase 2019s earnings at risk over a wide range of outcomes . jpmorgan chase 2019s 12-month pretax earnings sensitivity profile as of december 31 , 2009 and 2008 , is as follows. .
post_text: december 31 , 2009 $ ( 1594 ) $ ( 554 ) nm ( a ) nm ( a ) december 31 , 2008 $ 336 $ 672 nm ( a ) nm ( a ) ( a ) down 100- and 200-basis-point parallel shocks result in a fed funds target rate of zero , and negative three- and six-month treasury rates . the earnings- at-risk results of such a low-probability scenario are not meaningful . the change in earnings at risk from december 31 , 2008 , results from a higher level of afs securities and an updated baseline scenario that uses higher short-term interest rates . the firm 2019s risk to rising rates is largely the result of increased funding costs on assets , partially offset by widening deposit margins , which are currently compressed due to very low short-term interest rates . additionally , another interest rate scenario , involving a steeper yield curve with long-term rates rising 100 basis points and short- term rates staying at current levels , results in a 12-month pretax earnings benefit of $ 449 million . the increase in earnings is due to reinvestment of maturing assets at the higher long-term rates , with funding costs remaining unchanged . risk identification for large exposures individuals who manage risk positions , particularly those that are complex , are responsible for identifying potential losses that could arise from specific , unusual events , such as a potential tax change , and estimating the probabilities of losses arising from such events . this information is entered into the firm 2019s rifle database . management of trading businesses control rifle entries , thereby permitting the firm to monitor further earnings vulnerability not adequately covered by standard risk measures . risk monitoring and control limits market risk is controlled primarily through a series of limits . limits reflect the firm 2019s risk appetite in the context of the market environment and business strategy . in setting limits , the firm takes into consideration factors such as market volatility , product liquidity , business trends and management experience. .
table: Immediate change in rates
table: (in millions) +200bp +100bp -100bp -200bp
table: December 31, 2009 $(1,594) $(554) NM<sup>(a)</sup> NM<sup>(a)</sup>
table: December 31, 2008 $336 $672 NM<sup>(a)</sup> NM<sup>(a)</sup>
question: Analyse this data from a financial earnings document. if there were a 100bp rise in rates , how much more would the impact be on earnings in 2009 vs . 2008?\\n