local consumer lending local consumer lending ( lcl ) , which constituted approximately 70% ( 70 % ) of citi holdings by assets as of december 31 , 2010 , includes a portion of citigroup 2019s north american mortgage business , retail partner cards , western european cards and retail banking , citifinancial north america and other local consumer finance businesses globally . the student loan corporation is reported as discontinued operations within the corporate/other segment for the second half of 2010 only . at december 31 , 2010 , lcl had $ 252 billion of assets ( $ 226 billion in north america ) . approximately $ 129 billion of assets in lcl as of december 31 , 2010 consisted of u.s . mortgages in the company 2019s citimortgage and citifinancial operations . the north american assets consist of residential mortgage loans ( first and second mortgages ) , retail partner card loans , personal loans , commercial real estate ( cre ) , and other consumer loans and assets . in millions of dollars 2010 2009 2008 % (  % ) change 2010 vs . 2009 % (  % ) change 2009 vs . 2008 .
nm not meaningful 2010 vs . 2009 revenues , net of interest expense decreased 11% ( 11 % ) from the prior year . net interest revenue increased 6% ( 6 % ) due to the adoption of sfas 166/167 , partially offset by the impact of lower balances due to portfolio run-off and asset sales . non-interest revenue declined 58% ( 58 % ) , primarily due to the absence of the $ 1.1 billion gain on the sale of redecard in the first quarter of 2009 and a higher mortgage repurchase reserve charge . operating expenses decreased 18% ( 18 % ) , primarily due to the impact of divestitures , lower volumes , re-engineering actions and the absence of costs associated with the u.s . government loss-sharing agreement , which was exited in the fourth quarter of 2009 . provisions for credit losses and for benefits and claims decreased 38% ( 38 % ) , reflecting a net $ 1.8 billion credit reserve release in 2010 compared to a $ 5.8 billion build in 2009 . lower net credit losses across most businesses were partially offset by the impact of the adoption of sfas 166/167 . on a comparable basis , net credit losses were lower year-over-year , driven by improvement in u.s . mortgages , international portfolios and retail partner cards . assets declined 21% ( 21 % ) from the prior year , primarily driven by portfolio run-off , higher loan loss reserve balances , and the impact of asset sales and divestitures , partially offset by an increase of $ 41 billion resulting from the adoption of sfas 166/167 . key divestitures in 2010 included the student loan corporation , primerica , auto loans , the canadian mastercard business and u.s . retail sales finance portfolios . 2009 vs . 2008 revenues , net of interest expense decreased 24% ( 24 % ) from the prior year . net interest revenue was 24% ( 24 % ) lower than the prior year , primarily due to lower balances , de-risking of the portfolio , and spread compression . non-interest revenue decreased $ 1.6 billion , mostly driven by the impact of higher credit losses flowing through the securitization trusts , partially offset by the $ 1.1 billion gain on the sale of redecard in the first quarter of 2009 . operating expenses declined 31% ( 31 % ) from the prior year , due to lower volumes and reductions from expense re-engineering actions , and the impact of goodwill write-offs of $ 3.0 billion in the fourth quarter of 2008 , partially offset by higher costs associated with delinquent loans . provisions for credit losses and for benefits and claims increased 14% ( 14 % ) from the prior year , reflecting an increase in net credit losses of $ 6.1 billion , partially offset by lower reserve builds of $ 2.8 billion . higher net credit losses were primarily driven by higher losses of $ 3.6 billion in residential real estate lending , $ 1.0 billion in retail partner cards , and $ 0.7 billion in international . assets decreased $ 57 billion from the prior year , primarily driven by lower originations , wind-down of specific businesses , asset sales , divestitures , write- offs and higher loan loss reserve balances . key divestitures in 2009 included the fi credit card business , italy consumer finance , diners europe , portugal cards , norway consumer and diners club north america. .
In millions of dollars 2010 2009 2008 % Change 2010 vs. 2009 % Change 2009 vs. 2008
Net interest revenue $13,831 $12,995 $17,136 6% (24)%
Non-interest revenue 1,995 4,770 6,362 (58) (25)
Total revenues, net of interest expense $15,826 $17,765 $23,498 (11)% (24)%
Total operating expenses $8,064 $9,799 $14,238 (18)% (31)%
Net credit losses $17,040 $19,185 $13,111 (11)% 46%
Credit reserve build (release) (1,771) 5,799 8,573 NM (32)
Provision for benefits and claims 775 1,054 1,192 (26) (12)
Provision for unfunded lending commitments — — — — —
Provisions for credit losses and for benefits and claims $16,044 $26,038 $22,876 (38)% 14%
(Loss) from continuing operations before taxes $(8,282) $(18,072) $(13,616) 54% (33)%
Benefits for income taxes (3,289) (7,656) (5,259) 57 (46)
(Loss) from continuing operations $(4,993) $(10,416) $(8,357) 52% (25)%
Net income attributable to noncontrolling interests 8 33 12 (76) NM
Net (loss) $(5,001) $(10,449) $(8,369) 52% (25)%
Average assets(in billions of dollars) $324 $351 $420 (8)% (16)
Net credit losses as a percentage of average loans 6.20% 6.38% 3.80%
in millions of dollars 2010 2009 2008 % (  % ) change 2010 vs . 2009 % (  % ) change 2009 vs . 2008
net interest revenue $ 13831 $ 12995 $ 17136 6% ( 6 % ) ( 24 ) % (  % )
non-interest revenue 1995 4770 6362 -58 ( 58 ) -25 ( 25 )
total revenues net of interest expense $ 15826 $ 17765 $ 23498 ( 11 ) % (  % ) ( 24 ) % (  % )
total operating expenses $ 8064 $ 9799 $ 14238 ( 18 ) % (  % ) ( 31 ) % (  % )
net credit losses $ 17040 $ 19185 $ 13111 ( 11 ) % (  % ) 46% ( 46 % )
credit reserve build ( release ) -1771 ( 1771 ) 5799 8573 nm -32 ( 32 )
provision for benefits and claims 775 1054 1192 -26 ( 26 ) -12 ( 12 )
provision for unfunded lending commitments 2014 2014 2014 2014 2014
provisions for credit losses and for benefits and claims $ 16044 $ 26038 $ 22876 ( 38 ) % (  % ) 14% ( 14 % )
( loss ) from continuing operations before taxes $ -8282 ( 8282 ) $ -18072 ( 18072 ) $ -13616 ( 13616 ) 54% ( 54 % ) ( 33 ) % (  % )
benefits for income taxes -3289 ( 3289 ) -7656 ( 7656 ) -5259 ( 5259 ) 57 -46 ( 46 )
( loss ) from continuing operations $ -4993 ( 4993 ) $ -10416 ( 10416 ) $ -8357 ( 8357 ) 52% ( 52 % ) ( 25 ) % (  % )
net income attributable to noncontrolling interests 8 33 12 -76 ( 76 ) nm
net ( loss ) $ -5001 ( 5001 ) $ -10449 ( 10449 ) $ -8369 ( 8369 ) 52% ( 52 % ) ( 25 ) % (  % )
average assets ( in billions of dollars ) $ 324 $ 351 $ 420 ( 8 ) % (  % ) -16 ( 16 )
net credit losses as a percentage of average loans 6.20% ( 6.20 % ) 6.38% ( 6.38 % ) 3.80% ( 3.80 % )