☒ | QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
☐ | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
Delaware | 52-1568099 | |||||||||||||
(State or other jurisdiction of incorporation or organization) | (I.R.S. Employer Identification No.) | |||||||||||||
388 Greenwich Street, | New York | NY | 10013 | |||||||||||
(Address of principal executive offices) | (Zip code) |
Large accelerated filer | ☒ | Accelerated filer | ☐ | Non-accelerated filer | ☐ | Smaller reporting company | ☐ | ||||||||||||||||
Emerging growth company | ☐ |
OVERVIEW | |||||
MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS | |||||
Executive Summary | |||||
Summary of Selected Financial Data | |||||
SEGMENT REVENUES AND AND REVENUES | |||||
SEGMENT BALANCE SHEET | |||||
Corporate/Other | |||||
CAPITAL RESOURCES | |||||
MANAGING GLOBAL RISK TABLE OF CONTENTS | |||||
MANAGING GLOBAL RISK | |||||
SIGNIFICANT ACCOUNTING POLICIES AND SIGNIFICANT ESTIMATES | |||||
DISCLOSURE CONTROLS AND PROCEDURES | |||||
DISCLOSURE PURSUANT TO SECTION 219 OF THE IRAN THREAT REDUCTION AND SYRIA HUMAN RIGHTS ACT | |||||
FORWARD-LOOKING STATEMENTS | |||||
FINANCIAL STATEMENTS AND NOTES TABLE OF CONTENTS | |||||
CONSOLIDATED FINANCIAL STATEMENTS | |||||
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) | |||||
UNREGISTERED SALES OF EQUITY SECURITIES, REPURCHASES OF EQUITY SECURITIES AND DIVIDENDS | |||||
GLOSSARY OF TERMS AND ACRONYMS |
Citigroup Operating Segments | |||||||||||||||||||||||||||||||||||||||||
Consumer Banking (GCB) | |||||||||||||||||||||||||||||||||||||||||
Institutional Clients Group (ICG) | Personal Banking and Wealth Management (PBWM) | Legacy Franchises | |||||||||||||||||||||||||||||||||||||||
• – – • – | •Banking –Investment banking – | •U.S. Personal Banking – ◦Branded cards ◦Retail services –Retail banking •Global Wealth Management (Global Wealth) –Private bank –Wealth at Work –Citigold | • (Asia Consumer) –Retail banking and •Mexico Consumer Banking (Mexico Consumer) and Mexico Small Business and Middle-Market Banking (Mexico SBMM) – •Legacy Holdings Assets – – | ||||||||||||||||||||||||||||||||||||||
Corporate/Other | |||||||||||||||||||||||||||||||||||||||||
•Corporate Treasury managed portfolios •Operations and technology •Global staff functions and other corporate expenses • |
Citigroup Regions | |||||||||||||||||||||||||||||||||||
North America | Europe, Middle East and Africa (EMEA) | Latin America | Asia |
Third Quarter | Nine Months | Second Quarter | Six Months | |||||||||||||||||||||||||||||||||||||
In millions of dollars, except per share amounts | In millions of dollars, except per share amounts | 2021 | 2020(1) | % Change | 2021 | 2020(1) | % Change | In millions of dollars, except per share amounts | 2022 | 2021(1) | % Change | 2022 | 2021(1) | % Change | ||||||||||||||||||||||||||
Net interest revenue | $ | 10,398 | $ | 10,493 | (1) | % | $ | 30,763 | $ | 33,065 | (7) | % | ||||||||||||||||||||||||||||
Net interest income | Net interest income | $ | 11,964 | $ | 10,478 | 14 | % | $ | 22,835 | $ | 20,984 | 9 | % | |||||||||||||||||||||||||||
Non-interest revenue | Non-interest revenue | 6,756 | 6,809 | (1) | 23,192 | 24,734 | (6) | Non-interest revenue | 7,674 | 7,275 | 5 | 15,989 | 16,436 | (3) | ||||||||||||||||||||||||||
Revenues, net of interest expense | Revenues, net of interest expense | $ | 17,154 | $ | 17,302 | (1) | % | $ | 53,955 | $ | 57,799 | (7) | % | Revenues, net of interest expense | $ | 19,638 | $ | 17,753 | 11 | % | $ | 38,824 | $ | 37,420 | 4 | % | ||||||||||||||
Operating expenses | Operating expenses | 11,484 | 10,964 | 5 | 33,749 | 32,067 | 5 | Operating expenses | 12,393 | 11,471 | 8 | 25,558 | 22,884 | 12 | ||||||||||||||||||||||||||
Provisions for credit losses and for benefits and claims | Provisions for credit losses and for benefits and claims | (192) | 2,384 | NM | (3,313) | 17,541 | NM | Provisions for credit losses and for benefits and claims | 1,274 | (1,066) | NM | 2,029 | (3,121) | NM | ||||||||||||||||||||||||||
Income from continuing operations before income taxes | Income from continuing operations before income taxes | $ | 5,862 | $ | 3,954 | 48 | % | $ | 23,519 | $ | 8,191 | NM | Income from continuing operations before income taxes | $ | 5,971 | $ | 7,348 | (19) | % | $ | 11,237 | $ | 17,657 | (36) | % | |||||||||||||||
Income taxes | Income taxes | 1,193 | 777 | 54 | 4,680 | 1,409 | NM | Income taxes | 1,182 | 1,155 | 2 | 2,123 | 3,487 | (39) | ||||||||||||||||||||||||||
Income from continuing operations | Income from continuing operations | $ | 4,669 | $ | 3,177 | 47 | % | $ | 18,839 | $ | 6,782 | NM | Income from continuing operations | $ | 4,789 | $ | 6,193 | (23) | % | $ | 9,114 | $ | 14,170 | (36) | % | |||||||||||||||
Income (loss) from discontinued operations, net of taxes | Income (loss) from discontinued operations, net of taxes | (1) | (7) | 86 | 7 | (26) | NM | Income (loss) from discontinued operations, net of taxes | (221) | 10 | NM | (223) | 8 | NM | ||||||||||||||||||||||||||
Net income before attribution of noncontrolling interests | $ | 4,668 | $ | 3,170 | 47 | % | $ | 18,846 | $ | 6,756 | NM | |||||||||||||||||||||||||||||
Net income before attribution to noncontrolling interests | Net income before attribution to noncontrolling interests | $ | 4,568 | $ | 6,203 | (26) | % | $ | 8,891 | $ | 14,178 | (37) | % | |||||||||||||||||||||||||||
Net income attributable to noncontrolling interests | Net income attributable to noncontrolling interests | 24 | 24 | — | 67 | 18 | NM | Net income attributable to noncontrolling interests | 21 | 10 | NM | 38 | 43 | (12) | ||||||||||||||||||||||||||
Citigroup’s net income | Citigroup’s net income | $ | 4,644 | $ | 3,146 | 48 | % | $ | 18,779 | $ | 6,738 | NM | Citigroup’s net income | $ | 4,547 | $ | 6,193 | (27) | % | $ | 8,853 | $ | 14,135 | (37) | % | |||||||||||||||
Earnings per share | Earnings per share | Earnings per share | ||||||||||||||||||||||||||||||||||||||
Basic | Basic | Basic | ||||||||||||||||||||||||||||||||||||||
Income from continuing operations | Income from continuing operations | $ | 2.17 | $ | 1.37 | 58 | % | $ | 8.70 | $ | 2.82 | NM | Income from continuing operations | $ | 2.32 | $ | 2.86 | (19) | % | $ | 4.34 | $ | 6.51 | (33) | % | |||||||||||||||
Net income | Net income | 2.17 | 1.37 | 58 | 8.70 | 2.81 | NM | Net income | 2.20 | 2.87 | (23) | 4.23 | 6.52 | (35) | ||||||||||||||||||||||||||
Diluted | Diluted | Diluted | ||||||||||||||||||||||||||||||||||||||
Income from continuing operations | Income from continuing operations | $ | 2.15 | $ | 1.36 | 58 | % | $ | 8.64 | $ | 2.81 | NM | Income from continuing operations | $ | 2.30 | $ | 2.84 | (19) | % | $ | 4.32 | $ | 6.47 | (33) | % | |||||||||||||||
Net income | Net income | 2.15 | 1.36 | 58 | 8.65 | 2.80 | NM | Net income | 2.19 | 2.85 | (23) | 4.20 | 6.47 | (35) | ||||||||||||||||||||||||||
Dividends declared per common share | Dividends declared per common share | 0.51 | 0.51 | — | 1.53 | 1.53 | — | % | Dividends declared per common share | 0.51 | 0.51 | — | 1.02 | 1.02 | — | |||||||||||||||||||||||||
Common dividends | Common dividends | $ | 1,040 | $ | 1,074 | (3) | % | $ | 3,176 | $ | 3,226 | (2) | % | Common dividends | $ | 1,010 | $ | 1,062 | (5) | % | $ | 2,024 | $ | 2,136 | (5) | % | ||||||||||||||
Preferred dividends(2) | Preferred dividends(2) | 266 | 284 | (6) | 811 | 828 | (2) | Preferred dividends(2) | 238 | 253 | (6) | 517 | 545 | (5) | ||||||||||||||||||||||||||
Common share repurchases | Common share repurchases | 3,000 | — | NM | 7,600 | 2,925 | NM | Common share repurchases | 250 | 3,000 | NM | 3,250 | 4,600 | (29) |
In millions of dollars, except per share amounts, ratios and direct staff | In millions of dollars, except per share amounts, ratios and direct staff | Third Quarter | Nine Months | In millions of dollars, except per share amounts, ratios and direct staff | Second Quarter | Six Months | ||||||||||||||||||||||||||||||||||
2021 | 2020(1) | % Change | 2021 | 2020(1) | % Change | 2022 | 2021(1) | % Change | 2022 | 2021(1) | % Change | |||||||||||||||||||||||||||||
At September 30: | ||||||||||||||||||||||||||||||||||||||||
At June 30: | At June 30: | |||||||||||||||||||||||||||||||||||||||
Total assets | Total assets | $ | 2,361,876 | $ | 2,234,459 | 6 | % | Total assets | $ | 2,380,904 | $ | 2,327,868 | 2 | % | ||||||||||||||||||||||||||
Total deposits | Total deposits | 1,347,528 | 1,262,623 | 7 | Total deposits | 1,321,848 | 1,310,281 | 1 | ||||||||||||||||||||||||||||||||
Long-term debt | Long-term debt | 258,274 | 273,254 | (5) | Long-term debt | 257,425 | 264,575 | (3) | ||||||||||||||||||||||||||||||||
Citigroup common stockholders’ equity | Citigroup common stockholders’ equity | 182,880 | 175,896 | 4 | Citigroup common stockholders’ equity | 180,019 | 184,164 | (2) | ||||||||||||||||||||||||||||||||
Total Citigroup stockholders’ equity | Total Citigroup stockholders’ equity | 200,875 | 193,876 | 4 | Total Citigroup stockholders’ equity | 199,014 | 202,159 | (2) | ||||||||||||||||||||||||||||||||
Average assets | Average assets | 2,346,025 | 2,259,472 | 4 | $ | 2,334,876 | $ | 2,202,132 | 6 | % | Average assets | 2,380,053 | 2,341,810 | 2 | $ | 2,377,047 | $ | 2,329,302 | 2 | % | ||||||||||||||||||||
Direct staff (in thousands) | Direct staff (in thousands) | 220 | 209 | 5 | % | Direct staff (in thousands) | 231 | 214 | 8 | % | ||||||||||||||||||||||||||||||
Performance metrics | Performance metrics | Performance metrics | ||||||||||||||||||||||||||||||||||||||
Return on average assets | Return on average assets | 0.79 | % | 0.55 | % | 1.08 | % | 0.41 | % | Return on average assets | 0.77 | % | 1.06 | % | 0.75 | % | 1.22 | % | ||||||||||||||||||||||
Return on average common stockholders’ equity(3) | Return on average common stockholders’ equity(3) | 9.5 | 6.5 | 13.2 | 4.5 | Return on average common stockholders’ equity(3) | 9.7 | 13.0 | 9.3 | 15.1 | ||||||||||||||||||||||||||||||
Return on average total stockholders’ equity(3) | Return on average total stockholders’ equity(3) | 9.1 | 6.5 | 12.5 | 4.7 | Return on average total stockholders’ equity(3) | 9.2 | 12.3 | 9.0 | 14.2 | ||||||||||||||||||||||||||||||
Return on tangible common equity (RoTCE)(4) | Return on tangible common equity (RoTCE)(4) | 11.0 | 7.6 | 15.4 | 5.3 | Return on tangible common equity (RoTCE)(4) | 11.2 | 15.2 | 10.8 | 17.6 | ||||||||||||||||||||||||||||||
Efficiency ratio (total operating expenses/total revenues, net) | Efficiency ratio (total operating expenses/total revenues, net) | 66.9 | 63.4 | 62.6 | 55.5 | Efficiency ratio (total operating expenses/total revenues, net) | 63.1 | 64.6 | 65.8 | 61.2 | ||||||||||||||||||||||||||||||
Basel III ratios | Basel III ratios | Basel III ratios | ||||||||||||||||||||||||||||||||||||||
Common Equity Tier 1 Capital(5) | Common Equity Tier 1 Capital(5) | 11.65 | % | 11.66 | % | Common Equity Tier 1 Capital(5) | 11.90 | % | 11.77 | % | ||||||||||||||||||||||||||||||
Tier 1 Capital(5) | Tier 1 Capital(5) | 13.15 | 13.15 | Tier 1 Capital(5) | 13.57 | 13.28 | ||||||||||||||||||||||||||||||||||
Total Capital(5) | Total Capital(5) | 15.37 | 15.54 | Total Capital(5) | 15.16 | 15.58 | ||||||||||||||||||||||||||||||||||
Supplementary Leverage ratio | Supplementary Leverage ratio | 5.80 | 6.82 | Supplementary Leverage ratio | 5.63 | 5.84 | ||||||||||||||||||||||||||||||||||
Citigroup common stockholders’ equity to assets | Citigroup common stockholders’ equity to assets | 7.74 | % | 7.87 | % | Citigroup common stockholders’ equity to assets | 7.56 | % | 7.91 | % | ||||||||||||||||||||||||||||||
Total Citigroup stockholders’ equity to assets | Total Citigroup stockholders’ equity to assets | 8.50 | 8.68 | Total Citigroup stockholders’ equity to assets | 8.36 | 8.68 | ||||||||||||||||||||||||||||||||||
Dividend payout ratio(6) | Dividend payout ratio(6) | 24 | 38 | 18 | % | 55 | % | Dividend payout ratio(6) | 23 | 18 | 24 | % | 16 | % | ||||||||||||||||||||||||||
Total payout ratio(7) | Total payout ratio(7) | 92 | 38 | 60 | 104 | Total payout ratio(7) | 29 | 68 | 63 | 50 | ||||||||||||||||||||||||||||||
Book value per common share | Book value per common share | $ | 92.16 | $ | 84.48 | 9 | % | Book value per common share | $ | 92.95 | $ | 90.86 | 2 | % | ||||||||||||||||||||||||||
Tangible book value (TBV) per share(4) | Tangible book value (TBV) per share(4) | 79.07 | 71.95 | 10 | Tangible book value (TBV) per share(4) | 80.25 | 77.87 | 3 |
Third Quarter | Nine Months | |||||||||||||||||||
In millions of dollars | 2021 | 2020 | % Change | 2021 | 2020 | % Change | ||||||||||||||
Income (loss) from continuing operations(1) | ||||||||||||||||||||
Global Consumer Banking | ||||||||||||||||||||
North America | $ | 1,448 | $ | 661 | NM | $ | 4,614 | $ | (1,014) | NM | ||||||||||
Latin America | 228 | 108 | NM | 632 | 75 | NM | ||||||||||||||
Asia(2) | (342) | 151 | NM | 91 | 370 | (75) | % | |||||||||||||
Total | $ | 1,334 | $ | 920 | 45 | % | $ | 5,337 | $ | (569) | NM | |||||||||
Institutional Clients Group | ||||||||||||||||||||
North America | $ | 854 | $ | 1,023 | (17) | % | $ | 4,886 | $ | 2,509 | 95 | % | ||||||||
EMEA | 1,035 | 880 | 18 | 3,657 | 2,389 | 53 | ||||||||||||||
Latin America | 665 | 102 | NM | 1,907 | 427 | NM | ||||||||||||||
Asia | 889 | 852 | 4 | 2,760 | 2,928 | (6) | ||||||||||||||
Total | $ | 3,443 | $ | 2,857 | 21 | % | $ | 13,210 | $ | 8,253 | 60 | % | ||||||||
Corporate/Other | (108) | (600) | 82 | 292 | (902) | NM | ||||||||||||||
Income from continuing operations | $ | 4,669 | $ | 3,177 | 47 | % | $ | 18,839 | $ | 6,782 | NM | |||||||||
Discontinued operations | $ | (1) | $ | (7) | 86 | % | $ | 7 | $ | (26) | NM | |||||||||
Less: Net income attributable to noncontrolling interests | 24 | 24 | — | 67 | 18 | NM | ||||||||||||||
Citigroup’s net income | $ | 4,644 | $ | 3,146 | 48 | % | $ | 18,779 | $ | 6,738 | NM |
Second Quarter | Six Months | |||||||||||||||||||
In millions of dollars | 2022 | 2021 | % Change | 2022 | 2021 | % Change | ||||||||||||||
Institutional Clients Group | $ | 11,419 | $ | 9,549 | 20 | % | $ | 22,579 | $ | 20,937 | 8 | % | ||||||||
Personal Banking and Wealth Management | 6,029 | 5,698 | 6 | 11,934 | 11,690 | 2 | ||||||||||||||
Legacy Franchises | 1,935 | 2,279 | (15) | 3,866 | 4,522 | (15) | ||||||||||||||
Corporate/Other | 255 | 227 | 12 | 445 | 271 | 64 | ||||||||||||||
Total Citigroup net revenues | $ | 19,638 | $ | 17,753 | 11 | % | $ | 38,824 | $ | 37,420 | 4 | % |
Third Quarter | Nine Months | |||||||||||||||||||
In millions of dollars | 2021 | 2020 | % Change | 2021 | 2020 | % Change | ||||||||||||||
Global Consumer Banking | ||||||||||||||||||||
North America | $ | 4,338 | $ | 4,527 | (4) | % | $ | 12,967 | $ | 14,493 | (11) | % | ||||||||
Latin America | 1,038 | 1,027 | 1 | 3,099 | 3,276 | (5) | ||||||||||||||
Asia(1) | 884 | 1,619 | (45) | 4,051 | 4,917 | (18) | ||||||||||||||
Total | $ | 6,260 | $ | 7,173 | (13) | % | $ | 20,117 | $ | 22,686 | (11) | % | ||||||||
Institutional Clients Group | ||||||||||||||||||||
North America | $ | 4,145 | $ | 3,920 | 6 | % | $ | 12,761 | $ | 13,854 | (8) | % | ||||||||
EMEA | 3,095 | 3,085 | — | 10,061 | 9,947 | 1 | ||||||||||||||
Latin America | 1,261 | 1,141 | 11 | 3,571 | 3,766 | (5) | ||||||||||||||
Asia | 2,285 | 2,207 | 4 | 7,000 | 7,407 | (5) | ||||||||||||||
Total | $ | 10,786 | $ | 10,353 | 4 | % | $ | 33,393 | $ | 34,974 | (5) | % | ||||||||
Corporate/Other | 108 | (224) | NM | 445 | 139 | NM | ||||||||||||||
Total Citigroup net revenues | $ | 17,154 | $ | 17,302 | (1) | % | $ | 53,955 | $ | 57,799 | (7) | % |
Second Quarter | Six Months | |||||||||||||||||||
In millions of dollars | 2022 | 2021 | % Change | 2022 | 2021 | % Change | ||||||||||||||
Income (loss) from continuing operations | ||||||||||||||||||||
Institutional Clients Group | $ | 3,978 | $ | 3,433 | 16 | % | $ | 6,636 | $ | 8,863 | (25) | % | ||||||||
Personal Banking and Wealth Management | 553 | 1,805 | (69) | 2,413 | 4,225 | (43) | ||||||||||||||
Legacy Franchises | (15) | 492 | NM | (400) | 812 | NM | ||||||||||||||
Corporate/Other | 273 | 463 | (41) | 465 | 270 | 72 | ||||||||||||||
Income from continuing operations | $ | 4,789 | $ | 6,193 | (23) | % | $ | 9,114 | $ | 14,170 | (36) | % | ||||||||
Discontinued operations | $ | (221) | $ | 10 | NM | $ | (223) | $ | 8 | NM | ||||||||||
Less: Net income attributable to noncontrolling interests | 21 | 10 | NM | 38 | 43 | (12) | % | |||||||||||||
Citigroup’s net income | $ | 4,547 | $ | 6,193 | (27) | % | $ | 8,853 | $ | 14,135 | (37) | % |
In millions of dollars | In millions of dollars | Global Consumer Banking | Institutional Clients Group | Corporate/Other and consolidating eliminations(2) | Citigroup parent company- issued long-term debt and stockholders’ equity(3) | Total Citigroup consolidated | In millions of dollars | Institutional Clients Group | Personal Banking and Wealth Management | Legacy Franchises | Corporate/Other and consolidating eliminations(2) | Citigroup parent company- issued long-term debt and stockholders’ equity(3) | Total Citigroup consolidated | ||||||||||||||||||||||||
Assets | Assets | Assets | |||||||||||||||||||||||||||||||||||
Cash and deposits with banks, net of allowance | Cash and deposits with banks, net of allowance | $ | 7,753 | $ | 99,060 | $ | 216,995 | $ | — | $ | 323,808 | Cash and deposits with banks, net of allowance | $ | 99,355 | $ | 5,222 | $ | 3,351 | $ | 176,102 | $ | — | $ | 284,030 | |||||||||||||
Securities borrowed and purchased under agreements to resell, net of allowance | Securities borrowed and purchased under agreements to resell, net of allowance | 305 | 337,166 | 225 | — | 337,696 | Securities borrowed and purchased under agreements to resell, net of allowance | 360,940 | — | 394 | — | — | 361,334 | ||||||||||||||||||||||||
Trading account assets | Trading account assets | 1,370 | 328,361 | 13,183 | — | 342,914 | Trading account assets | 327,672 | 3,080 | 963 | 9,160 | — | 340,875 | ||||||||||||||||||||||||
Investments, net of allowance | Investments, net of allowance | 1,244 | 132,623 | 366,982 | — | 500,849 | Investments, net of allowance | 128,824 | 72 | 1,793 | 383,189 | — | 513,878 | ||||||||||||||||||||||||
Loans, net of unearned income and allowance for credit losses on loans | Loans, net of unearned income and allowance for credit losses on loans | 245,477 | 397,458 | 4,114 | — | 647,049 | Loans, net of unearned income and allowance for credit losses on loans | 291,809 | 310,009 | 39,563 | — | — | 641,381 | ||||||||||||||||||||||||
Other assets, net of allowance | Other assets, net of allowance | 48,848 | 118,248 | 42,464 | — | 209,560 | Other assets, net of allowance | 134,804 | 26,634 | 35,873 | 42,095 | — | 239,406 | ||||||||||||||||||||||||
Net inter-segment liquid assets(4) | Net inter-segment liquid assets(4) | 137,285 | 406,563 | (543,848) | — | — | Net inter-segment liquid assets(4) | 356,212 | 133,780 | 25,710 | (515,702) | — | — | ||||||||||||||||||||||||
Total assets | Total assets | $ | 442,282 | $ | 1,819,479 | $ | 100,115 | $ | — | $ | 2,361,876 | Total assets | $ | 1,699,616 | $ | 478,797 | $ | 107,647 | $ | 94,844 | $ | — | $ | 2,380,904 | |||||||||||||
Liabilities and equity | Liabilities and equity | Liabilities and equity | |||||||||||||||||||||||||||||||||||
Total deposits | Total deposits | $ | 354,437 | $ | 986,215 | $ | 6,876 | $ | — | $ | 1,347,528 | Total deposits | $ | 828,705 | $ | 427,605 | $ | 52,699 | $ | 12,839 | $ | — | $ | 1,321,848 | |||||||||||||
Securities loaned and sold under agreements to repurchase | Securities loaned and sold under agreements to repurchase | 2,180 | 207,003 | 1 | — | 209,184 | Securities loaned and sold under agreements to repurchase | 196,362 | 35 | 2,075 | — | — | 198,472 | ||||||||||||||||||||||||
Trading account liabilities | Trading account liabilities | 845 | 177,958 | 483 | — | 179,286 | Trading account liabilities | 177,811 | 2,133 | 305 | 204 | — | 180,453 | ||||||||||||||||||||||||
Short-term borrowings | Short-term borrowings | 17 | 29,324 | 342 | — | 29,683 | Short-term borrowings | 32,057 | 7 | — | 7,990 | — | 40,054 | ||||||||||||||||||||||||
Long-term debt(3) | Long-term debt(3) | 530 | 85,457 | 2,183 | 170,104 | 258,274 | Long-term debt(3) | 77,676 | 245 | 499 | 11,131 | 167,874 | 257,425 | ||||||||||||||||||||||||
Other liabilities, net of allowance | 28,978 | 89,474 | 17,859 | — | 136,311 | ||||||||||||||||||||||||||||||||
Other liabilities | Other liabilities | 123,045 | 11,253 | 33,471 | 15,257 | — | 183,026 | ||||||||||||||||||||||||||||||
Net inter-segment funding (lending)(3) | Net inter-segment funding (lending)(3) | 55,295 | 244,048 | 71,636 | (370,979) | — | Net inter-segment funding (lending)(3) | 263,960 | 37,519 | 18,598 | 46,811 | (366,888) | — | ||||||||||||||||||||||||
Total liabilities | Total liabilities | $ | 442,282 | $ | 1,819,479 | $ | 99,380 | $ | (200,875) | $ | 2,160,266 | Total liabilities | $ | 1,699,616 | $ | 478,797 | $ | 107,647 | $ | 94,232 | $ | (199,014) | $ | 2,181,278 | |||||||||||||
Total stockholders’ equity(5) | Total stockholders’ equity(5) | — | — | 735 | 200,875 | 201,610 | Total stockholders’ equity(5) | — | — | — | 612 | 199,014 | 199,626 | ||||||||||||||||||||||||
Total liabilities and equity | Total liabilities and equity | $ | 442,282 | $ | 1,819,479 | $ | 100,115 | $ | — | $ | 2,361,876 | Total liabilities and equity | $ | 1,699,616 | $ | 478,797 | $ | 107,647 | $ | 94,844 | $ | — | $ | 2,380,904 |
Third Quarter | Nine Months | |||||||||||||||||||
In millions of dollars, except as otherwise noted | 2021 | 2020 | % Change | 2021 | 2020 | % Change | ||||||||||||||
Net interest revenue | $ | 5,963 | $ | 6,251 | (5) | % | $ | 17,763 | $ | 19,857 | (11) | % | ||||||||
Non-interest revenue | 297 | 922 | (68) | 2,354 | 2,829 | (17) | ||||||||||||||
Total revenues, net of interest expense | $ | 6,260 | $ | 7,173 | (13) | % | $ | 20,117 | $ | 22,686 | (11) | % | ||||||||
Total operating expenses | $ | 4,567 | $ | 4,287 | 7 | % | $ | 13,517 | $ | 12,884 | 5 | % | ||||||||
Net credit losses on loans | $ | 944 | $ | 1,598 | (41) | % | $ | 3,777 | $ | 5,374 | (30) | % | ||||||||
Credit reserve build (release) for loans | (1,031) | 34 | NM | (4,235) | 5,144 | NM | ||||||||||||||
Provision (release) for credit losses on unfunded lending commitments | 1 | 5 | (80) | 2 | 4 | (50) | ||||||||||||||
Provisions for benefits and claims, HTM debt securities and other assets | 21 | 45 | (53) | 65 | 103 | (37) | ||||||||||||||
Provisions (releases) for credit losses and for benefits and claims (PBC) | $ | (65) | $ | 1,682 | NM | $ | (391) | $ | 10,625 | NM | ||||||||||
Income (loss) from continuing operations before taxes | $ | 1,758 | $ | 1,204 | 46 | % | $ | 6,991 | $ | (823) | NM | |||||||||
Income taxes (benefits) | 424 | 284 | 49 | 1,654 | (254) | NM | ||||||||||||||
Income (loss) from continuing operations | $ | 1,334 | $ | 920 | 45 | % | $ | 5,337 | $ | (569) | NM | |||||||||
Noncontrolling interests | (2) | — | NM | (7) | (3) | NM | ||||||||||||||
Net income (loss) | $ | 1,336 | $ | 920 | 45 | % | $ | 5,344 | $ | (566) | NM | |||||||||
Balance Sheet data and ratios | ||||||||||||||||||||
EOP assets (in billions of dollars) | $ | 442 | $ | 435 | 2 | % | ||||||||||||||
Average assets (in billions of dollars) | 441 | 434 | 2 | $ | 439 | $ | 419 | 5 | % | |||||||||||
Return on average assets | 1.20 | % | 0.84 | % | 1.63 | % | (0.18) | % | ||||||||||||
Efficiency ratio | 73 | 60 | 67 | 57 | ||||||||||||||||
Average retail banking deposits (in billions of dollars) | $ | 353 | $ | 320 | 10 | $ | 351 | $ | 304 | 15 | ||||||||||
Net credit losses as a percentage of average loans | 1.42 | % | 2.33 | % | 1.89 | % | 2.58 | % | ||||||||||||
Revenue by business | ||||||||||||||||||||
Retail banking | $ | 2,146 | $ | 2,916 | (26) | % | $ | 7,792 | $ | 8,798 | (11) | % | ||||||||
Cards(1) | 4,114 | 4,257 | (3) | 12,325 | 13,888 | (11) | ||||||||||||||
Total | $ | 6,260 | $ | 7,173 | (13) | % | $ | 20,117 | $ | 22,686 | (11) | % | ||||||||
Income (loss) from continuing operations by business | ||||||||||||||||||||
Retail banking | $ | (326) | $ | 264 | NM | $ | 205 | $ | 384 | (47) | % | |||||||||
Cards(1) | 1,660 | 656 | NM | 5,132 | (953) | NM | ||||||||||||||
Total | $ | 1,334 | $ | 920 | 45 | % | $ | 5,337 | $ | (569) | NM |
Foreign currency (FX) translation impact | ||||||||||||||||||||
Total revenue—as reported | $ | 6,260 | $ | 7,173 | (13) | % | $ | 20,117 | $ | 22,686 | (11) | % | ||||||||
Impact of FX translation(2) | — | 95 | — | 365 | ||||||||||||||||
Total revenues—ex-FX(3) | $ | 6,260 | $ | 7,268 | (14) | % | $ | 20,117 | $ | 23,051 | (13) | % | ||||||||
Total operating expenses—as reported | $ | 4,567 | $ | 4,287 | 7 | % | $ | 13,517 | $ | 12,884 | 5 | % | ||||||||
Impact of FX translation(2) | — | 59 | — | 227 | ||||||||||||||||
Total operating expenses—ex-FX(3) | $ | 4,567 | $ | 4,346 | 5 | % | $ | 13,517 | $ | 13,111 | 3 | % | ||||||||
Total provisions for credit losses and PBC—as reported | $ | (65) | $ | 1,682 | NM | $ | (391) | $ | 10,625 | NM | ||||||||||
Impact of FX translation(2) | — | 15 | — | 123 | ||||||||||||||||
Total provisions for credit losses and PBC—ex-FX(3) | $ | (65) | $ | 1,697 | NM | $ | (391) | $ | 10,748 | NM | ||||||||||
Net income—as reported | $ | 1,336 | $ | 920 | 45 | % | $ | 5,344 | $ | (566) | NM | |||||||||
Impact of FX translation(2) | — | 11 | — | 7 | ||||||||||||||||
Net income—ex-FX(3) | $ | 1,336 | $ | 931 | 44 | % | $ | 5,344 | $ | (559) | NM |
Third Quarter | Nine Months | |||||||||||||||||||
In millions of dollars, except as otherwise noted | 2021 | 2020 | % Change | 2021 | 2020 | % Change | ||||||||||||||
Net interest revenue | $ | 4,336 | $ | 4,500 | (4) | % | $ | 12,786 | $ | 14,243 | (10) | % | ||||||||
Non-interest revenue | 2 | 27 | (93) | 181 | 250 | (28) | ||||||||||||||
Total revenues, net of interest expense | $ | 4,338 | $ | 4,527 | (4) | % | $ | 12,967 | $ | 14,493 | (11) | % | ||||||||
Total operating expenses | $ | 2,658 | $ | 2,483 | 7 | % | $ | 7,737 | $ | 7,506 | 3 | % | ||||||||
Net credit losses on loans | $ | 617 | $ | 1,182 | (48) | % | $ | 2,384 | $ | 4,120 | (42) | % | ||||||||
Credit reserve build (release) for loans | (809) | (10) | NM | (3,141) | 4,200 | NM | ||||||||||||||
Provision (release) for credit losses on unfunded lending commitments | 1 | 5 | (80) | 2 | 4 | (50) | ||||||||||||||
Provisions for benefits and claims, HTM debt securities and other assets | 4 | (6) | NM | 12 | 18 | (33) | ||||||||||||||
Provisions (releases) for credit losses and for benefits and claims | $ | (187) | $ | 1,171 | NM | $ | (743) | $ | 8,342 | NM | ||||||||||
Income (loss) from continuing operations before taxes | $ | 1,867 | $ | 873 | NM | $ | 5,973 | $ | (1,355) | NM | ||||||||||
Income taxes (benefits) | 419 | 212 | 98 | % | 1,359 | (341) | NM | |||||||||||||
Income (loss) from continuing operations | $ | 1,448 | $ | 661 | NM | $ | 4,614 | $ | (1,014) | NM | ||||||||||
Noncontrolling interests | — | — | — | % | — | — | — | % | ||||||||||||
Net income (loss) | $ | 1,448 | $ | 661 | NM | $ | 4,614 | $ | (1,014) | NM | ||||||||||
Balance Sheet data and ratios | ||||||||||||||||||||
Average assets (in billions of dollars) | $ | 267 | $ | 274 | (3) | % | $ | 265 | $ | 261 | 2 | % | ||||||||
Return on average assets | 2.15 | % | 0.96 | % | 2.33 | % | (0.52) | % | ||||||||||||
Efficiency ratio | 61 | 55 | 60 | 52 | ||||||||||||||||
Average retail banking deposits (in billions of dollars) | $ | 208 | $ | 182 | 14 | $ | 203 | $ | 172 | 18 | ||||||||||
Net credit losses as a percentage of average loans | 1.41 | % | 2.63 | % | 1.84 | % | 2.98 | % | ||||||||||||
Revenue by business | ||||||||||||||||||||
Retail banking | $ | 1,031 | $ | 1,113 | (7) | % | $ | 3,111 | $ | 3,365 | (8) | % | ||||||||
Citi-branded cards | 2,036 | 2,061 | (1) | 6,086 | 6,626 | (8) | ||||||||||||||
Citi retail services | 1,271 | 1,353 | (6) | 3,770 | 4,502 | (16) | ||||||||||||||
Total | $ | 4,338 | $ | 4,527 | (4) | % | $ | 12,967 | $ | 14,493 | (11) | % | ||||||||
Income (loss) from continuing operations by business | ||||||||||||||||||||
Retail banking | $ | (73) | $ | 25 | NM | $ | (119) | $ | (160) | 26 | % | |||||||||
Citi-branded cards | 781 | 422 | 85 | % | 2,824 | (627) | NM | |||||||||||||
Citi retail services | 740 | 214 | NM | 1,909 | (227) | NM | ||||||||||||||
Total | $ | 1,448 | $ | 661 | NM | $ | 4,614 | $ | (1,014) | NM |
Third Quarter | Nine Months | % Change | ||||||||||||||||||
In millions of dollars, except as otherwise noted | 2021 | 2020 | % Change | 2021 | 2020 | |||||||||||||||
Net interest revenue | $ | 702 | $ | 697 | 1 | % | $ | 2,063 | $ | 2,339 | (12) | % | ||||||||
Non-interest revenue | 336 | 330 | 2 | 1,036 | 937 | 11 | ||||||||||||||
Total revenues, net of interest expense | $ | 1,038 | $ | 1,027 | 1 | % | $ | 3,099 | $ | 3,276 | (5) | % | ||||||||
Total operating expenses | $ | 700 | $ | 667 | 5 | % | $ | 2,127 | $ | 2,001 | 6 | % | ||||||||
Net credit losses on loans | $ | 175 | $ | 228 | (23) | % | $ | 790 | $ | 704 | 12 | % | ||||||||
Credit reserve build (release) for loans | (178) | (66) | NM | (764) | 399 | NM | ||||||||||||||
Provision for credit losses on unfunded lending commitments | — | — | — | — | — | — | ||||||||||||||
Provisions for benefits and claims, HTM debt securities and other assets | 19 | 47 | (60) | 54 | 78 | (31) | ||||||||||||||
Provisions for credit losses and for benefits and claims (PBC) | $ | 16 | $ | 209 | (92) | % | $ | 80 | $ | 1,181 | (93) | % | ||||||||
Income (loss) from continuing operations before taxes | $ | 322 | $ | 151 | NM | $ | 892 | $ | 94 | NM | ||||||||||
Income taxes (benefits) | 94 | 43 | NM | 260 | 19 | NM | ||||||||||||||
Income (loss) from continuing operations | $ | 228 | $ | 108 | NM | $ | 632 | $ | 75 | NM | ||||||||||
Noncontrolling interests | — | — | — | % | — | — | — | % | ||||||||||||
Net income (loss) | $ | 228 | $ | 108 | NM | $ | 632 | $ | 75 | NM | ||||||||||
Balance Sheet data and ratios | ||||||||||||||||||||
Average assets (in billions of dollars) | $ | 36 | $ | 31 | 16 | % | $ | 35 | $ | 32 | 9 | % | ||||||||
Return on average assets | 2.51 | % | 1.39 | % | 2.41 | % | 0.31 | % | ||||||||||||
Efficiency ratio | 67 | 65 | 69 | 61 | ||||||||||||||||
Average deposits (in billions of dollars) | $ | 24 | $ | 23 | 4 | $ | 24 | $ | 22 | 9 | ||||||||||
Net credit losses as a percentage of average loans | 5.26 | % | 6.67 | % | 7.77 | % | 6.49 | % | ||||||||||||
Revenue by business | ||||||||||||||||||||
Retail banking | $ | 767 | $ | 737 | 4 | % | $ | 2,247 | $ | 2,225 | 1 | % | ||||||||
Citi-branded cards | 271 | 290 | (7) | 852 | 1,051 | (19) | ||||||||||||||
Total | $ | 1,038 | $ | 1,027 | 1 | % | $ | 3,099 | $ | 3,276 | (5) | % | ||||||||
Income (loss) from continuing operations by business | ||||||||||||||||||||
Retail banking | $ | 119 | $ | 68 | 75 | % | $ | 339 | $ | 29 | NM | |||||||||
Citi-branded cards | 109 | 40 | NM | 293 | 46 | NM | ||||||||||||||
Total | $ | 228 | $ | 108 | NM | $ | 632 | $ | 75 | NM | ||||||||||
FX translation impact | ||||||||||||||||||||
Total revenues—as reported | $ | 1,038 | $ | 1,027 | 1 | % | $ | 3,099 | $ | 3,276 | (5) | % | ||||||||
Impact of FX translation(1) | — | 86 | — | 226 | ||||||||||||||||
Total revenues—ex-FX(2) | $ | 1,038 | $ | 1,113 | (7) | % | $ | 3,099 | $ | 3,502 | (12) | % | ||||||||
Total operating expenses—as reported | $ | 700 | $ | 667 | 5 | % | $ | 2,127 | $ | 2,001 | 6 | % | ||||||||
Impact of FX translation(1) | — | 51 | — | 130 | ||||||||||||||||
Total operating expenses—ex-FX(2) | $ | 700 | $ | 718 | (3) | % | $ | 2,127 | $ | 2,131 | — | % | ||||||||
Provisions for credit losses and PBC—as reported | $ | 16 | $ | 209 | (92) | % | $ | 80 | $ | 1,181 | (93) | % | ||||||||
Impact of FX translation(1) | — | 15 | — | 92 | ||||||||||||||||
Provisions for credit losses and PBC—ex-FX(2) | $ | 16 | $ | 224 | (93) | % | $ | 80 | $ | 1,273 | (94) | % | ||||||||
Net income (loss)—as reported | $ | 228 | $ | 108 | NM | $ | 632 | $ | 75 | NM | ||||||||||
Impact of FX translation(1) | — | 12 | — | — | ||||||||||||||||
Net income (loss)—ex-FX(2) | $ | 228 | $ | 120 | 90 | % | $ | 632 | $ | 75 | NM |
Third Quarter | Nine Months | % Change | ||||||||||||||||||
In millions of dollars, except as otherwise noted(1) | 2021 | 2020 | % Change | 2021 | 2020 | |||||||||||||||
Net interest revenue | $ | 925 | $ | 1,054 | (12) | % | $ | 2,914 | $ | 3,275 | (11) | % | ||||||||
Non-interest revenue | (41) | 565 | NM | 1,137 | 1,642 | (31) | ||||||||||||||
Total revenues, net of interest expense | $ | 884 | $ | 1,619 | (45) | % | $ | 4,051 | $ | 4,917 | (18) | % | ||||||||
Total operating expenses | $ | 1,209 | $ | 1,137 | 6 | % | $ | 3,653 | $ | 3,377 | 8 | % | ||||||||
Net credit losses on loans | $ | 152 | $ | 188 | (19) | % | $ | 603 | $ | 550 | 10 | % | ||||||||
Credit reserve build (release) for loans | (44) | 110 | NM | (330) | 545 | NM | ||||||||||||||
Provisions for HTM debt securities and other assets | (2) | 4 | NM | (1) | 7 | NM | ||||||||||||||
Provisions for credit losses | $ | 106 | $ | 302 | (65) | % | $ | 272 | $ | 1,102 | (75) | % | ||||||||
Income (loss) from continuing operations before taxes | $ | (431) | $ | 180 | NM | $ | 126 | $ | 438 | (71) | % | |||||||||
Income taxes (benefits) | (89) | 29 | NM | 35 | 68 | (49) | ||||||||||||||
Income (loss) from continuing operations | $ | (342) | $ | 151 | NM | $ | 91 | $ | 370 | (75) | % | |||||||||
Noncontrolling interests | (2) | — | NM | (7) | (3) | NM | ||||||||||||||
Net income (loss) | $ | (340) | $ | 151 | NM | $ | 98 | $ | 373 | (74) | % | |||||||||
Balance Sheet data and ratios | ||||||||||||||||||||
Average assets (in billions of dollars) | $ | 138 | $ | 129 | 7 | % | $ | 140 | $ | 126 | 11 | % | ||||||||
Return on average assets | (0.98) | % | 0.47 | % | 0.09 | % | 0.40 | % | ||||||||||||
Efficiency ratio | 137 | 70 | 90 | 69 | ||||||||||||||||
Average deposits (in billions of dollars) | $ | 121 | $ | 115 | 5 | $ | 123 | $ | 110 | 12 | ||||||||||
Net credit losses as a percentage of average loans | 0.79 | % | 0.94 | % | 1.00 | % | 0.93 | % | ||||||||||||
Revenue by business | ||||||||||||||||||||
Retail banking | $ | 348 | $ | 1,066 | (67) | % | $ | 2,434 | $ | 3,208 | (24) | % | ||||||||
Citi-branded cards | 536 | 553 | (3) | 1,617 | 1,709 | (5) | ||||||||||||||
Total | $ | 884 | $ | 1,619 | (45) | % | $ | 4,051 | $ | 4,917 | (18) | % | ||||||||
Income (loss) from continuing operations by business | ||||||||||||||||||||
Retail banking | $ | (372) | $ | 171 | NM | $ | (15) | $ | 515 | NM | ||||||||||
Citi-branded cards | 30 | (20) | NM | 106 | (145) | NM | ||||||||||||||
Total | $ | (342) | $ | 151 | NM | $ | 91 | $ | 370 | (75) | % | |||||||||
FX translation impact | ||||||||||||||||||||
Total revenues—as reported | $ | 884 | $ | 1,619 | (45) | % | $ | 4,051 | $ | 4,917 | (18) | % | ||||||||
Impact of FX translation(2) | — | 9 | — | 139 | ||||||||||||||||
Total revenues—ex-FX(3) | $ | 884 | $ | 1,628 | (46) | % | $ | 4,051 | $ | 5,056 | (20) | % | ||||||||
Total operating expenses—as reported | $ | 1,209 | $ | 1,137 | 6 | % | $ | 3,653 | $ | 3,377 | 8 | % | ||||||||
Impact of FX translation(2) | — | 8 | — | 97 | ||||||||||||||||
Total operating expenses—ex-FX(3) | $ | 1,209 | $ | 1,145 | 6 | % | $ | 3,653 | $ | 3,474 | 5 | % |
Provisions for credit losses—as reported | $ | 106 | $ | 302 | (65) | % | $ | 272 | $ | 1,102 | (75) | % | ||||||||
Impact of FX translation(2) | — | — | — | 31 | ||||||||||||||||
Provisions for credit losses—ex-FX(3) | $ | 106 | $ | 302 | (65) | % | $ | 272 | $ | 1,133 | (76) | % | ||||||||
Net income (loss)—as reported | $ | (340) | $ | 151 | NM | $ | 98 | $ | 373 | (74) | % | |||||||||
Impact of FX translation(2) | — | (1) | — | 7 | ||||||||||||||||
Net income (loss)—ex-FX(3) | $ | (340) | $ | 150 | NM | $ | 98 | $ | 380 | (74) | % |
Third Quarter | Nine Months | % Change | ||||||||||||||||||
In millions of dollars, except as otherwise noted | 2021 | 2020 | % Change | 2021 | 2020 | |||||||||||||||
Commissions and fees | $ | 1,160 | $ | 1,099 | 6 | % | $ | 3,598 | $ | 3,348 | 7 | % | ||||||||
Administration and other fiduciary fees | 845 | 747 | 13 | 2,524 | 2,122 | 19 | ||||||||||||||
Investment banking | 1,692 | 1,145 | 48 | 5,067 | 3,902 | 30 | ||||||||||||||
Principal transactions | 2,297 | 2,511 | (9) | 8,352 | 11,779 | (29) | ||||||||||||||
Other | 609 | 378 | 61 | 1,293 | 683 | 89 | ||||||||||||||
Total non-interest revenue | $ | 6,603 | $ | 5,880 | 12 | % | $ | 20,834 | $ | 21,834 | (5) | % | ||||||||
Net interest revenue (including dividends) | 4,183 | 4,473 | (6) | 12,559 | 13,140 | (4) | ||||||||||||||
Total revenues, net of interest expense | $ | 10,786 | $ | 10,353 | 4 | % | $ | 33,393 | $ | 34,974 | (5) | % | ||||||||
Total operating expenses | $ | 6,398 | $ | 5,858 | 9 | % | $ | 18,970 | $ | 17,741 | 7 | % | ||||||||
Net credit losses on loans | $ | 40 | $ | 326 | (88) | % | $ | 315 | $ | 777 | (59) | % | ||||||||
Credit reserve build (release) for loans | (65) | 106 | NM | (2,326) | 4,792 | NM | ||||||||||||||
Provision (release) for credit losses on unfunded lending commitments | (13) | 423 | NM | (588) | 1,083 | NM | ||||||||||||||
Provisions (releases) for credit losses on HTM debt securities and other assets | (8) | (17) | 53 | (9) | 44 | NM | ||||||||||||||
Provisions (releases) for credit losses | $ | (46) | $ | 838 | NM | $ | (2,608) | $ | 6,696 | NM | ||||||||||
Income from continuing operations before taxes | $ | 4,434 | $ | 3,657 | 21 | % | $ | 17,031 | $ | 10,537 | 62 | % | ||||||||
Income taxes | 991 | 800 | 24 | 3,821 | 2,284 | 67 | ||||||||||||||
Income from continuing operations | $ | 3,443 | $ | 2,857 | 21 | % | $ | 13,210 | $ | 8,253 | 60 | % | ||||||||
Noncontrolling interests | 24 | 24 | — | 73 | 28 | NM | ||||||||||||||
Net income | $ | 3,419 | $ | 2,833 | 21 | % | $ | 13,137 | $ | 8,225 | 60 | % | ||||||||
Balance Sheet data and ratios (in billions of dollars) | ||||||||||||||||||||
EOP assets (in billions of dollars) | $ | 1,819 | $ | 1,703 | 7 | % | ||||||||||||||
Average assets (in billions of dollars) | 1,809 | 1,732 | 4 | $ | 1,801 | $ | 1,689 | 7 | % | |||||||||||
Return on average assets | 0.75 | % | 0.65 | % | 0.98 | % | 0.65 | % | ||||||||||||
Efficiency ratio | 59 | 57 | 57 | 51 | ||||||||||||||||
Revenues by region | ||||||||||||||||||||
North America | $ | 4,145 | $ | 3,920 | 6 | % | $ | 12,761 | $ | 13,854 | (8) | % | ||||||||
EMEA | 3,095 | 3,085 | — | 10,061 | 9,947 | 1 | ||||||||||||||
Latin America | 1,261 | 1,141 | 11 | 3,571 | 3,766 | (5) | ||||||||||||||
Asia | 2,285 | 2,207 | 4 | 7,000 | 7,407 | (5) | ||||||||||||||
Total | $ | 10,786 | $ | 10,353 | 4 | % | $ | 33,393 | $ | 34,974 | (5) | % | ||||||||
Income from continuing operations by region | ||||||||||||||||||||
North America | $ | 854 | $ | 1,023 | (17) | % | $ | 4,886 | $ | 2,509 | 95 | % | ||||||||
EMEA | 1,035 | 880 | 18 | 3,657 | 2,389 | 53 | ||||||||||||||
Latin America | 665 | 102 | NM | 1,907 | 427 | NM | ||||||||||||||
Asia | 889 | 852 | 4 | 2,760 | 2,928 | (6) | ||||||||||||||
Total | $ | 3,443 | $ | 2,857 | 21 | % | $ | 13,210 | $ | 8,253 | 60 | % |
Second Quarter | Six Months | |||||||||||||||||||
In millions of dollars, except as otherwise noted | 2022 | 2021 | % Change | 2022 | 2021 | % Change | ||||||||||||||
Commissions and fees | $ | 1,125 | $ | 1,071 | 5 | % | $ | 2,255 | $ | 2,181 | 3 | % | ||||||||
Administration and other fiduciary fees | 732 | 698 | 5 | 1,404 | 1,355 | 4 | ||||||||||||||
Investment banking fees(1) | 990 | 1,568 | (37) | 2,029 | 3,355 | (40) | ||||||||||||||
Principal transactions | 4,358 | 2,135 | NM | 8,800 | 5,880 | 50 | ||||||||||||||
Other | (306) | 317 | NM | (213) | 673 | NM | ||||||||||||||
Total non-interest revenue | $ | 6,899 | $ | 5,789 | 19 | % | $ | 14,275 | $ | 13,444 | 6 | % | ||||||||
Net interest income (including dividends) | 4,520 | 3,760 | 20 | 8,304 | 7,493 | 11 | ||||||||||||||
Total revenues, net of interest expense | $ | 11,419 | $ | 9,549 | 20 | % | $ | 22,579 | $ | 20,937 | 8 | % | ||||||||
Total operating expenses | $ | 6,434 | $ | 5,829 | 10 | % | $ | 13,157 | $ | 11,761 | 12 | % | ||||||||
Net credit losses on loans | $ | 18 | $ | 68 | (74) | % | $ | 48 | $ | 243 | (80) | % | ||||||||
Credit reserve build (release) for loans | (76) | (812) | 91 | 520 | (1,915) | NM | ||||||||||||||
Provision (release) for credit losses on unfunded lending commitments | (169) | 47 | NM | 183 | (559) | NM | ||||||||||||||
Provisions (releases) for credit losses on HTM debt securities and other assets | 25 | 3 | NM | 18 | (2) | NM | ||||||||||||||
Provisions (releases) for credit losses | $ | (202) | $ | (694) | 71 | % | $ | 769 | $ | (2,233) | NM | |||||||||
Income from continuing operations before taxes | $ | 5,187 | $ | 4,414 | 18 | % | $ | 8,653 | $ | 11,409 | (24) | % | ||||||||
Income taxes | 1,209 | 981 | 23 | 2,017 | 2,546 | (21) | ||||||||||||||
Income from continuing operations | $ | 3,978 | $ | 3,433 | 16 | % | $ | 6,636 | $ | 8,863 | (25) | % | ||||||||
Noncontrolling interests | 17 | 12 | 42 | 35 | 49 | (29) | ||||||||||||||
Net income | $ | 3,961 | $ | 3,421 | 16 | % | $ | 6,601 | $ | 8,814 | (25) | % | ||||||||
Balance Sheet data (in billions of dollars) | ||||||||||||||||||||
EOP assets | $ | 1,700 | $ | 1,654 | 3 | % | ||||||||||||||
Average assets | 1,698 | 1,667 | 2 | $ | 1,692 | $ | 1,658 | 2 | % | |||||||||||
Efficiency ratio | 56 | % | 61 | % | 58 | % | 56 | % | ||||||||||||
Average loans by reporting unit (in billions of dollars) | ||||||||||||||||||||
Services | $ | 85 | $ | 74 | 15 | % | $ | 82 | $ | 72 | 14 | % | ||||||||
Banking | 199 | 197 | 1 | 197 | 197 | — | ||||||||||||||
Markets | 13 | 16 | (19) | 14 | 15 | (7) | ||||||||||||||
Total | $ | 297 | $ | 287 | 3 | % | $ | 293 | $ | 284 | 3 | % | ||||||||
Average deposits by reporting unit (in billions of dollars) | ||||||||||||||||||||
TTS | $ | 665 | $ | 652 | 2 | % | $ | 664 | $ | 652 | 2 | % | ||||||||
Securities services | 137 | 137 | — | 136 | 133 | 2 | ||||||||||||||
Services | $ | 802 | $ | 789 | 2 | % | $ | 800 | $ | 785 | 2 | % | ||||||||
Markets | 28 | 29 | (3) | 28 | 29 | (3) | ||||||||||||||
Total | $ | 830 | $ | 818 | 1 | % | $ | 828 | $ | 814 | 2 | % |
Average loans by region (in billions of dollars) | ||||||||||||||||||||
North America | $ | 205 | $ | 198 | 4 | % | $ | 200 | $ | 204 | (2) | % | ||||||||
EMEA | 90 | 88 | 2 | 90 | 89 | 1 | ||||||||||||||
Latin America | 32 | 40 | (20) | 32 | 40 | (20) | ||||||||||||||
Asia | 74 | 71 | 4 | 73 | 72 | 1 | ||||||||||||||
Total | $ | 401 | $ | 397 | 1 | % | $ | 395 | $ | 405 | (2) | % | ||||||||
EOP deposits by business (in billions of dollars) | ||||||||||||||||||||
Treasury and trade solutions | $ | 676 | $ | 660 | 2 | % | ||||||||||||||
All other ICG businesses | 310 | 265 | 17 | |||||||||||||||||
Total | $ | 986 | $ | 925 | 7 | % |
Third Quarter | Nine Months | % Change | ||||||||||||||||||
In millions of dollars | 2021 | 2020 | % Change | 2021 | 2020 | |||||||||||||||
Investment banking revenue details | ||||||||||||||||||||
Advisory | $ | 539 | $ | 163 | NM | $ | 1,225 | $ | 778 | 57 | % | |||||||||
Equity underwriting | 507 | 484 | 5 | % | 1,927 | 1,155 | 67 | |||||||||||||
Debt underwriting | 877 | 740 | 19 | 2,516 | 2,567 | (2) | ||||||||||||||
Total investment banking | $ | 1,923 | $ | 1,387 | 39 | % | $ | 5,668 | $ | 4,500 | 26 | % | ||||||||
Treasury and trade solutions | 2,291 | 2,394 | (4) | 6,746 | 7,124 | (5) | ||||||||||||||
Corporate lending—excluding gains (losses) on loan hedges(1) | 631 | 538 | 17 | 1,662 | 1,632 | 2 | ||||||||||||||
Private bank—excluding gains on loan hedges(1) | 973 | 938 | 4 | 2,993 | 2,843 | 5 | ||||||||||||||
Total Banking revenues (ex-gains (losses) on loan hedges) | $ | 5,818 | $ | 5,257 | 11 | % | $ | 17,069 | $ | 16,099 | 6 | % | ||||||||
Gains (losses) on loan hedges(1) | $ | (47) | $ | (124) | 62 | % | $ | (165) | $ | 261 | NM | |||||||||
Total Banking revenues (including gains (losses) on loan hedges), net of interest expense | $ | 5,771 | $ | 5,133 | 12 | % | $ | 16,904 | $ | 16,360 | 3 | % | ||||||||
Fixed income markets | $ | 3,182 | $ | 3,788 | (16) | % | $ | 10,943 | $ | 14,169 | (23) | % | ||||||||
Equity markets | 1,226 | 875 | 40 | 3,760 | 2,814 | 34 | ||||||||||||||
Securities services | 692 | 631 | 10 | 2,017 | 1,895 | 6 | ||||||||||||||
Other | (85) | (74) | (15) | (231) | (264) | 13 | ||||||||||||||
Total Markets and securities services revenues, net of interest expense | $ | 5,015 | $ | 5,220 | (4) | % | $ | 16,489 | $ | 18,614 | (11) | % | ||||||||
Total revenues, net of interest expense | $ | 10,786 | $ | 10,353 | 4 | % | $ | 33,393 | $ | 34,974 | (5) | % | ||||||||
Commissions and fees | $ | 198 | $ | 159 | 25 | % | $ | 580 | $ | 502 | 16 | % | ||||||||
Principal transactions(2) | 1,519 | 2,178 | (30) | 6,371 | 9,736 | (35) | ||||||||||||||
Other | 404 | 301 | 34 | 916 | 472 | 94 | ||||||||||||||
Total non-interest revenue | $ | 2,121 | $ | 2,638 | (20) | % | $ | 7,867 | $ | 10,710 | (27) | % | ||||||||
Net interest revenue | 1,061 | 1,150 | (8) | 3,076 | 3,459 | (11) | ||||||||||||||
Total fixed income markets(3) | $ | 3,182 | $ | 3,788 | (16) | % | $ | 10,943 | $ | 14,169 | (23) | % | ||||||||
Rates and currencies | $ | 2,124 | $ | 2,520 | (16) | % | $ | 7,156 | $ | 10,136 | (29) | % | ||||||||
Spread products/other fixed income | 1,058 | 1,268 | (17) | 3,787 | 4,033 | (6) | ||||||||||||||
Total fixed income markets | $ | 3,182 | $ | 3,788 | (16) | % | $ | 10,943 | $ | 14,169 | (23) | % | ||||||||
Commissions and fees | $ | 276 | $ | 279 | (1) | % | $ | 966 | $ | 946 | 2 | % | ||||||||
Principal transactions(2) | 688 | 344 | 100 | 1,745 | 1,311 | 33 | ||||||||||||||
Other | 38 | 48 | (21) | 157 | 58 | NM | ||||||||||||||
Total non-interest revenue | $ | 1,002 | $ | 671 | 49 | % | $ | 2,868 | $ | 2,315 | 24 | % | ||||||||
Net interest revenue | 224 | 204 | 10 | 892 | 499 | 79 | ||||||||||||||
Total equity markets(3) | $ | 1,226 | $ | 875 | 40 | % | $ | 3,760 | $ | 2,814 | 34 | % |
Second Quarter | Six Months | |||||||||||||||||||
In millions of dollars | 2022 | 2021 | % Change | 2022 | 2021 | % Change | ||||||||||||||
Services | ||||||||||||||||||||
Net interest income | $ | 2,327 | $ | 1,640 | 42 | % | $ | 4,234 | $ | 3,257 | 30 | % | ||||||||
Non-interest revenue | 1,696 | 1,500 | 13 | 3,237 | 2,883 | 12 | ||||||||||||||
Total Services revenues | $ | 4,023 | $ | 3,140 | 28 | % | $ | 7,471 | $ | 6,140 | 22 | % | ||||||||
Net interest income | $ | 2,026 | $ | 1,427 | 42 | % | $ | 3,685 | $ | 2,832 | 30 | % | ||||||||
Non-interest revenue | 1,003 | 858 | 17 | 1,934 | 1,641 | 18 | ||||||||||||||
TTS revenues | $ | 3,029 | $ | 2,285 | 33 | % | $ | 5,619 | $ | 4,473 | 26 | % | ||||||||
Net interest income | $ | 301 | $ | 213 | 41 | % | $ | 549 | $ | 425 | 29 | % | ||||||||
Non-interest revenue | 693 | 642 | 8 | 1,303 | 1,242 | 5 | ||||||||||||||
Securities services revenues | $ | 994 | $ | 855 | 16 | % | $ | 1,852 | $ | 1,667 | 11 | % | ||||||||
Markets | ||||||||||||||||||||
Net interest income | $ | 1,383 | $ | 1,379 | — | % | $ | 2,492 | $ | 2,688 | (7) | % | ||||||||
Non-interest revenue | 3,937 | 2,876 | 37 | 8,654 | 7,500 | 15 | ||||||||||||||
Total Markets revenues(1) | $ | 5,320 | $ | 4,255 | 25 | % | $ | 11,146 | $ | 10,188 | 9 | % | ||||||||
Fixed income markets | $ | 4,084 | $ | 3,111 | 31 | % | $ | 8,383 | $ | 7,457 | 12 | % | ||||||||
Equity markets | 1,236 | 1,144 | 8 | 2,763 | 2,731 | 1 | ||||||||||||||
Total Markets revenues | $ | 5,320 | $ | 4,255 | 25 | % | $ | 11,146 | $ | 10,188 | 9 | % | ||||||||
Rates and currencies | $ | 3,277 | $ | 1,978 | 66 | % | $ | 6,508 | $ | 5,002 | 30 | % | ||||||||
Spread products / other fixed income | 807 | 1,133 | (29) | 1,875 | 2,455 | (24) | ||||||||||||||
Total Fixed income markets revenues | $ | 4,084 | $ | 3,111 | 31 | % | $ | 8,383 | $ | 7,457 | 12 | % | ||||||||
Banking | ||||||||||||||||||||
Net interest income | $ | 810 | $ | 741 | 9 | % | $ | 1,578 | $ | 1,548 | 2 | % | ||||||||
Non-interest revenue | 1,266 | 1,413 | (10) | 2,384 | 3,061 | (22) | ||||||||||||||
Total Banking revenues | $ | 2,076 | $ | 2,154 | (4) | % | $ | 3,962 | $ | 4,609 | (14) | % | ||||||||
Investment banking | ||||||||||||||||||||
Advisory | $ | 357 | $ | 405 | (12) | % | $ | 704 | $ | 686 | 3 | % | ||||||||
Equity underwriting | 177 | 484 | (63) | 362 | 1,319 | (73) | ||||||||||||||
Debt underwriting | 271 | 614 | (56) | 767 | 1,296 | (41) | ||||||||||||||
Total Investment banking revenues | $ | 805 | $ | 1,503 | (46) | % | $ | 1,833 | $ | 3,301 | (44) | % | ||||||||
Corporate lending (excluding gains (losses) on loan hedges)(2) | $ | 777 | $ | 688 | 13 | % | $ | 1,466 | $ | 1,423 | 3 | % | ||||||||
Total Banking revenues (excluding gains (losses) on loan hedges)(2) | $ | 1,582 | $ | 2,191 | (28) | % | $ | 3,299 | $ | 4,724 | (30) | % | ||||||||
Gains (losses) on loan hedges(2) | 494 | (37) | NM | 663 | (115) | NM | ||||||||||||||
Total Banking revenues (including gains (losses) on loan hedges)(2) | $ | 2,076 | $ | 2,154 | (4) | % | $ | 3,962 | $ | 4,609 | (14) | % | ||||||||
Total ICG revenues, net of interest expense | $ | 11,419 | $ | 9,549 | 20 | % | $ | 22,579 | $ | 20,937 | 8 | % |
Second Quarter | Six Months | |||||||||||||||||||
In millions of dollars, except as otherwise noted | 2022 | 2021 | % Change | 2022 | 2021 | % Change | ||||||||||||||
Net interest income | $ | 5,569 | $ | 4,985 | 12 | % | $ | 10,954 | $ | 10,150 | 8 | % | ||||||||
Non-interest revenue | 460 | 713 | (35) | 980 | 1,540 | (36) | ||||||||||||||
Total revenues, net of interest expense | $ | 6,029 | $ | 5,698 | 6 | % | $ | 11,934 | $ | 11,690 | 2 | % | ||||||||
Total operating expenses | $ | 3,985 | $ | 3,547 | 12 | % | $ | 7,874 | $ | 6,969 | 13 | % | ||||||||
Net credit losses on loans | $ | 699 | $ | 862 | (19) | % | $ | 1,390 | $ | 1,852 | (25) | % | ||||||||
Credit reserve build (release) for loans | 638 | (1,040) | NM | (424) | (2,582) | 84 | ||||||||||||||
Provision (release) for credit losses on unfunded lending commitments | 13 | 5 | NM | 11 | (6) | NM | ||||||||||||||
Provisions (release) for benefits and claims, and other assets | 5 | 3 | 67 | 2 | 9 | (78) | ||||||||||||||
Provisions (releases) for credit losses and for benefits and claims (PBC) | $ | 1,355 | $ | (170) | NM | $ | 979 | $ | (727) | NM | ||||||||||
Income (loss) from continuing operations before taxes | $ | 689 | $ | 2,321 | (70) | % | $ | 3,081 | $ | 5,448 | (43) | % | ||||||||
Income taxes (benefits) | 136 | 516 | (74) | 668 | 1,223 | (45) | ||||||||||||||
Income (loss) from continuing operations | $ | 553 | $ | 1,805 | (69) | % | $ | 2,413 | $ | 4,225 | (43) | % | ||||||||
Noncontrolling interests | — | — | — | — | — | — | ||||||||||||||
Net income (loss) | $ | 553 | $ | 1,805 | (69) | % | $ | 2,413 | $ | 4,225 | (43) | % | ||||||||
Balance Sheet data (in billions of dollars) | ||||||||||||||||||||
EOP assets | $ | 479 | $ | 452 | 6 | % | ||||||||||||||
Average assets | 474 | 458 | 3 | $ | 474 | $ | 458 | 3 | % | |||||||||||
Average loans | 317 | 304 | 4 | 315 | 304 | 4 | ||||||||||||||
Average deposits | 435 | 410 | 6 | 441 | 404 | 9 | ||||||||||||||
Efficiency ratio | 66 | % | 62 | % | 66 | % | 60 | % | ||||||||||||
Net credit losses as a percentage of average loans | 0.88 | 1.14 | 0.89 | 1.23 | ||||||||||||||||
Revenue by reporting unit and component | ||||||||||||||||||||
Branded cards | $ | 2,168 | $ | 1,968 | 10 | % | $ | 4,258 | $ | 4,072 | 5 | % | ||||||||
Retail services | 1,300 | 1,210 | 7 | 2,599 | 2,515 | 3 | ||||||||||||||
Retail banking | 656 | 618 | 6 | 1,251 | 1,253 | — | ||||||||||||||
U.S. Personal Banking | $ | 4,124 | $ | 3,796 | 9 | % | $ | 8,108 | $ | 7,840 | 3 | % | ||||||||
Private bank | $ | 745 | $ | 747 | — | % | $ | 1,524 | $ | 1,533 | (1) | % | ||||||||
Wealth at Work | 170 | 171 | (1) | 353 | 342 | 3 | ||||||||||||||
Citigold | 990 | 984 | 1 | 1,949 | 1,975 | (1) | ||||||||||||||
Global Wealth | $ | 1,905 | $ | 1,902 | — | % | $ | 3,826 | $ | 3,850 | (1) | % | ||||||||
Total | $ | 6,029 | $ | 5,698 | 6 | % | $ | 11,934 | $ | 11,690 | 2 | % |
Second Quarter | Six Months | % Change | ||||||||||||||||||
In millions of dollars, except as otherwise noted(1) | 2022 | 2021 | % Change | 2022 | 2021 | |||||||||||||||
Net interest income | $ | 1,474 | $ | 1,621 | (9) | % | $ | 2,982 | $ | 3,184 | (6) | % | ||||||||
Non-interest revenue | 461 | 658 | (30) | 884 | 1,338 | (34) | ||||||||||||||
Total revenues, net of interest expense | $ | 1,935 | $ | 2,279 | (15) | % | $ | 3,866 | $ | 4,522 | (15) | % | ||||||||
Total operating expenses | $ | 1,814 | $ | 1,788 | 1 | % | $ | 4,107 | $ | 3,540 | 16 | % | ||||||||
Net credit losses on loans | $ | 133 | $ | 390 | (66) | % | $ | 284 | $ | 973 | (71) | % | ||||||||
Credit reserve build (release) for loans | (28) | (594) | 95 | (174) | (1,176) | 85 | ||||||||||||||
Provision (release) for credit losses on unfunded lending commitments | (3) | (8) | 63 | 121 | (17) | NM | ||||||||||||||
Provisions for benefits and claims, HTM debt securities and other assets | 19 | 8 | NM | 50 | 60 | (17) | ||||||||||||||
Provisions (releases) for credit losses | $ | 121 | $ | (204) | NM | $ | 281 | $ | (160) | NM | ||||||||||
Income (loss) from continuing operations before taxes | $ | — | $ | 695 | (100) | % | $ | (522) | $ | 1,142 | NM | |||||||||
Income taxes (benefits) | 15 | 203 | (93) | (122) | 330 | NM | ||||||||||||||
Income (loss) from continuing operations | $ | (15) | $ | 492 | NM | $ | (400) | $ | 812 | NM | ||||||||||
Noncontrolling interests | 2 | (2) | NM | — | (5) | 100 | % | |||||||||||||
Net income (loss) | $ | (17) | $ | 494 | NM | $ | (400) | $ | 817 | NM | ||||||||||
Balance Sheet data (in billions of dollars) | ||||||||||||||||||||
EOP assets | $ | 108 | $ | 131 | (18) | % | ||||||||||||||
Average assets | 115 | 128 | (10) | $ | 120 | $ | 129 | (7) | % | |||||||||||
EOP loans | 41 | 79 | (48) | |||||||||||||||||
EOP deposits | 53 | 87 | (39) | |||||||||||||||||
Efficiency ratio | 94 | % | 78 | % | 106 | % | 78 | % | ||||||||||||
Revenue by reporting unit and component | ||||||||||||||||||||
Asia Consumer | $ | 880 | $ | 1,052 | (16) | % | $ | 1,667 | $ | 2,127 | (22) | % | ||||||||
Mexico Consumer/SBMM | 1,184 | 1,184 | — | 2,323 | 2,321 | — | ||||||||||||||
Legacy Holdings Assets | (129) | 43 | NM | (124) | 74 | NM | ||||||||||||||
Total | $ | 1,935 | $ | 2,279 | (15) | % | $ | 3,866 | $ | 4,522 | (15) | % |
Third Quarter | Nine Months | % Change | Second Quarter | Six Months | % Change | |||||||||||||||||||||||||||||||||||
In millions of dollars | In millions of dollars | 2021 | 2020 | % Change | 2021 | 2020 | In millions of dollars | 2022 | 2021 | % Change | 2022 | 2021 | ||||||||||||||||||||||||||||
Net interest revenue | $ | 252 | $ | (231) | NM | $ | 441 | $ | 68 | NM | ||||||||||||||||||||||||||||||
Net interest income | Net interest income | $ | 401 | $ | 112 | NM | $ | 595 | $ | 157 | NM | |||||||||||||||||||||||||||||
Non-interest revenue | Non-interest revenue | (144) | 7 | NM | 4 | 71 | (94) | % | Non-interest revenue | (146) | 115 | NM | (150) | 114 | NM | |||||||||||||||||||||||||
Total revenues, net of interest expense | Total revenues, net of interest expense | $ | 108 | $ | (224) | NM | $ | 445 | $ | 139 | NM | Total revenues, net of interest expense | $ | 255 | $ | 227 | 12 | % | $ | 445 | $ | 271 | 64 | % | ||||||||||||||||
Total operating expenses | Total operating expenses | $ | 519 | $ | 819 | (37) | % | $ | 1,262 | $ | 1,442 | (12) | % | Total operating expenses | $ | 160 | $ | 307 | (48) | % | $ | 420 | $ | 614 | (32) | % | ||||||||||||||
Net credit losses (recoveries) on loans | $ | (23) | $ | (5) | NM | $ | (63) | $ | (12) | NM | ||||||||||||||||||||||||||||||
Credit reserve build (release) for loans | (53) | (128) | 59 | % | (261) | 223 | NM | |||||||||||||||||||||||||||||||||
Provision (releases) for benefits and claims, HTM debt securities and other assets | (4) | 1 | NM | 19 | 2 | NM | ||||||||||||||||||||||||||||||||||
Provisions (release) for credit losses on unfunded lending commitments | (1) | (4) | 75 | (9) | 7 | NM | ||||||||||||||||||||||||||||||||||
Provisions (release) for credit losses and for benefits and claims | $ | (81) | $ | (136) | 40 | % | $ | (314) | $ | 220 | NM | |||||||||||||||||||||||||||||
Provisions (releases) for HTM debt securities and other assets | Provisions (releases) for HTM debt securities and other assets | $ | — | $ | 2 | (100) | % | $ | — | $ | (1) | 100 | % | |||||||||||||||||||||||||||
Income (loss) from continuing operations before taxes | Income (loss) from continuing operations before taxes | $ | (330) | $ | (907) | 64 | % | $ | (503) | $ | (1,523) | 67 | % | Income (loss) from continuing operations before taxes | $ | 95 | $ | (82) | NM | $ | 25 | $ | (342) | NM | ||||||||||||||||
Income taxes (benefits) | Income taxes (benefits) | (222) | (307) | 28 | (795) | (621) | (28) | Income taxes (benefits) | (178) | (545) | 67 | % | (440) | (612) | 28 | % | ||||||||||||||||||||||||
Income (loss) from continuing operations | Income (loss) from continuing operations | $ | (108) | $ | (600) | 82 | % | $ | 292 | $ | (902) | NM | Income (loss) from continuing operations | $ | 273 | $ | 463 | (41) | % | $ | 465 | $ | 270 | 72 | % | |||||||||||||||
Income (loss) from discontinued operations, net of taxes | Income (loss) from discontinued operations, net of taxes | (1) | (7) | 86 | 7 | (26) | NM | Income (loss) from discontinued operations, net of taxes | (221) | 10 | NM | (223) | 8 | NM | ||||||||||||||||||||||||||
Net income (loss) before attribution of noncontrolling interests | $ | (109) | $ | (607) | 82 | % | $ | 299 | $ | (928) | NM | |||||||||||||||||||||||||||||
Net income (loss) before attribution to noncontrolling interests | Net income (loss) before attribution to noncontrolling interests | $ | 52 | $ | 473 | (89) | % | $ | 242 | $ | 278 | (13) | % | |||||||||||||||||||||||||||
Noncontrolling interests | Noncontrolling interests | 2 | — | NM | 1 | (7) | NM | Noncontrolling interests | 2 | — | NM | 3 | (1) | NM | ||||||||||||||||||||||||||
Net income (loss) | Net income (loss) | $ | (111) | $ | (607) | 82 | % | $ | 298 | $ | (921) | NM | Net income (loss) | $ | 50 | $ | 473 | (89) | % | $ | 239 | $ | 279 | (14) | % |
Advanced Approaches | Standardized Approach | ||||||||||||||||||||||
In millions of dollars, except ratios | Effective Minimum Requirement(1) | September 30, 2021 | June 30, 2021 | December 31, 2020 | September 30, 2021 | June 30, 2021 | December 31, 2020 | ||||||||||||||||
Common Equity Tier 1 Capital(2) | $ | 149,631 | $ | 150,378 | $ | 147,274 | $ | 149,631 | $ | 150,378 | $ | 147,274 | |||||||||||
Tier 1 Capital | 168,902 | 169,636 | 167,053 | 168,902 | 169,636 | 167,053 | |||||||||||||||||
Total Capital (Tier 1 Capital + Tier 2 Capital)(2) | 194,423 | 195,972 | 195,959 | 204,288 | 205,531 | 204,849 | |||||||||||||||||
Total Risk-Weighted Assets | 1,265,297 | 1,253,785 | 1,255,284 | 1,284,316 | 1,271,046 | 1,221,576 | |||||||||||||||||
Credit Risk(2) | $ | 871,668 | $ | 860,231 | $ | 844,374 | $ | 1,187,516 | $ | 1,175,263 | $ | 1,109,435 | |||||||||||
Market Risk | 93,376 | 91,594 | 107,812 | 96,800 | 95,783 | 112,141 | |||||||||||||||||
Operational Risk | 300,253 | 301,960 | 303,098 | — | — | — | |||||||||||||||||
Common Equity Tier 1 Capital ratio(3) | 10.0 | % | 11.83 | % | 11.99 | % | 11.73 | % | 11.65 | % | 11.83 | % | 12.06 | % | |||||||||
Tier 1 Capital ratio(3) | 11.5 | 13.35 | 13.53 | 13.31 | 13.15 | 13.35 | 13.68 | ||||||||||||||||
Total Capital ratio(3) | 13.5 | 15.37 | 15.63 | 15.61 | 15.91 | 16.17 | 16.77 |
In millions of dollars, except ratios | Effective Minimum Requirement | September 30, 2021 | June 30, 2021 | December 31, 2020 | ||||||||||
Quarterly Adjusted Average Total Assets(2)(4) | $ | 2,311,830 | $ | 2,307,323 | $ | 2,265,615 | ||||||||
Total Leverage Exposure(2)(5) | 2,911,050 | 2,903,655 | 2,386,881 | |||||||||||
Tier 1 Leverage ratio | 4.0 | % | 7.31 | % | 7.35 | % | 7.37 | % | ||||||
Supplementary Leverage ratio | 5.0 | 5.80 | 5.84 | 7.00 |
Advanced Approaches | Standardized Approach | |||||||||||||||||||
June 30, 2022 | March 31, 2022 | December 31, 2021 | June 30, 2022 | March 31, 2022 | December 31, 2021 | |||||||||||||||
Common Equity Tier 1 Capital ratio(1) | 10.0 | % | 10.0 | % | 10.0 | % | 10.5 | % | 10.5 | % | 10.5 | % | ||||||||
Tier 1 Capital ratio(1) | 11.5 | 11.5 | 11.5 | 12.0 | 12.0 | 12.0 | ||||||||||||||
Total Capital ratio(1) | 13.5 | 13.5 | 13.5 | 14.0 | 14.0 | 14.0 |
Advanced Approaches | Standardized Approach | |||||||||||||||||||
In millions of dollars, except ratios | June 30, 2022 | March 31, 2022 | December 31, 2021 | June 30, 2022 | March 31, 2022 | December 31, 2021 | ||||||||||||||
Common Equity Tier 1 Capital(1) | $ | 144,893 | $ | 143,749 | $ | 149,305 | $ | 144,893 | $ | 143,749 | $ | 149,305 | ||||||||
Tier 1 Capital | 165,159 | 164,015 | 169,568 | 165,159 | 164,015 | 169,568 | ||||||||||||||
Total Capital (Tier 1 Capital + Tier 2 Capital)(1) | 187,350 | 186,980 | 194,006 | 196,408 | 197,133 | 203,838 | ||||||||||||||
Total Risk-Weighted Assets | 1,235,956 | 1,259,935 | 1,209,374 | 1,217,459 | 1,263,298 | 1,219,175 | ||||||||||||||
Credit Risk(1) | $ | 861,298 | $ | 885,880 | $ | 840,483 | $ | 1,135,558 | $ | 1,178,657 | $ | 1,135,906 | ||||||||
Market Risk | 79,912 | 81,797 | 78,634 | 81,901 | 84,641 | 83,269 | ||||||||||||||
Operational Risk | 294,746 | 292,258 | 290,257 | — | — | — | ||||||||||||||
Common Equity Tier 1 Capital ratio(2) | 11.72 | % | 11.41 | % | 12.35 | % | 11.90 | % | 11.38 | % | 12.25 | % | ||||||||
Tier 1 Capital ratio(2) | 13.36 | 13.02 | 14.02 | 13.57 | 12.98 | 13.91 | ||||||||||||||
Total Capital ratio(2) | 15.16 | 14.84 | 16.04 | 16.13 | 15.60 | 16.72 |
In millions of dollars, except ratios | Effective Minimum Requirement | June 30, 2022 | March 31, 2022 | December 31, 2021 | ||||||||||
Quarterly Adjusted Average Total Assets(1)(3) | $ | 2,344,675 | $ | 2,337,375 | $ | 2,351,434 | ||||||||
Total Leverage Exposure(1)(4) | 2,935,289 | 2,939,533 | 2,957,764 | |||||||||||
Tier 1 Leverage ratio | 4.0 | % | 7.04 | % | 7.02 | % | 7.21 | % | ||||||
Supplementary Leverage ratio | 5.0 | 5.63 | 5.58 | 5.73 |
In millions of dollars | September 30, 2021 | December 31, 2020 | ||||||
Common Equity Tier 1 Capital | ||||||||
Citigroup common stockholders’ equity(1) | $ | 183,005 | $ | 180,118 | ||||
Add: Qualifying noncontrolling interests | 136 | 141 | ||||||
Regulatory capital adjustments and deductions: | ||||||||
Add: CECL transition and 25% provision deferral(2) | 3,389 | 5,348 | ||||||
Less: Accumulated net unrealized gains (losses) on cash flow hedges, net of tax | 663 | 1,593 | ||||||
Less: Cumulative unrealized net gain (loss) related to changes in fair value of financial liabilities attributable to own creditworthiness, net of tax | (1,317) | (1,109) | ||||||
Less: Intangible assets: | ||||||||
Goodwill, net of related DTLs(3) | 20,689 | 21,124 | ||||||
Identifiable intangible assets other than MSRs, net of related DTLs | 3,899 | 4,166 | ||||||
Less: Defined benefit pension plan net assets; other | 2,068 | 921 | ||||||
Less: DTAs arising from net operating loss, foreign tax credit and general business credit carry-forwards(4) | 10,897 | 11,638 | ||||||
Total Common Equity Tier 1 Capital (Standardized Approach and Advanced Approaches) | $ | 149,631 | $ | 147,274 | ||||
Additional Tier 1 Capital | ||||||||
Qualifying noncumulative perpetual preferred stock(1) | $ | 17,870 | $ | 19,324 | ||||
Qualifying trust preferred securities(5) | 1,398 | 1,393 | ||||||
Qualifying noncontrolling interests | 34 | 35 | ||||||
Regulatory capital deductions: | ||||||||
Less: Permitted ownership interests in covered funds(6) | — | 917 | ||||||
Less: Other | 31 | 56 | ||||||
Total Additional Tier 1 Capital (Standardized Approach and Advanced Approaches) | $ | 19,271 | $ | 19,779 | ||||
Total Tier 1 Capital (Common Equity Tier 1 Capital + Additional Tier 1 Capital) (Standardized Approach and Advanced Approaches) | $ | 168,902 | $ | 167,053 | ||||
Tier 2 Capital | ||||||||
Qualifying subordinated debt | $ | 20,456 | $ | 23,481 | ||||
Qualifying trust preferred securities(7) | 248 | 331 | ||||||
Qualifying noncontrolling interests | 40 | 41 | ||||||
Eligible allowance for credit losses(2)(8) | 14,860 | 13,974 | ||||||
Regulatory capital deduction: | ||||||||
Less: Other | 218 | 31 | ||||||
Total Tier 2 Capital (Standardized Approach) | $ | 35,386 | $ | 37,796 | ||||
Total Capital (Tier 1 Capital + Tier 2 Capital) (Standardized Approach) | $ | 204,288 | $ | 204,849 | ||||
Adjustment for excess of eligible credit reserves over expected credit losses(2)(8) | $ | (9,865) | $ | (8,890) | ||||
Total Tier 2 Capital (Advanced Approaches) | $ | 25,521 | $ | 28,906 | ||||
Total Capital (Tier 1 Capital + Tier 2 Capital) (Advanced Approaches) | $ | 194,423 | $ | 195,959 |
In millions of dollars | June 30, 2022 | December 31, 2021 | ||||||
Common Equity Tier 1 Capital | ||||||||
Citigroup common stockholders’ equity(1) | $ | 180,150 | $ | 183,108 | ||||
Add: Qualifying noncontrolling interests | 129 | 143 | ||||||
Regulatory capital adjustments and deductions: | ||||||||
Add: CECL transition provision(2) | 2,271 | 3,028 | ||||||
Less: Accumulated net unrealized gains (losses) on cash flow hedges, net of tax | (2,106) | 101 | ||||||
Less: Cumulative unrealized net gain (loss) related to changes in fair value of financial liabilities attributable to own creditworthiness, net of tax | 2,145 | (896) | ||||||
Less: Intangible assets: | ||||||||
Goodwill, net of related DTLs(3) | 19,504 | 20,619 | ||||||
Identifiable intangible assets other than MSRs, net of related DTLs | 3,599 | 3,800 | ||||||
Less: Defined benefit pension plan net assets; other | 2,038 | 2,080 | ||||||
Less: DTAs arising from net operating loss, foreign tax credit and general business credit carry-forwards(4) | 11,679 | 11,270 | ||||||
Less: Excess over 10%/15% limitations for other DTAs, certain common stock investments, and MSRs(4)(5) | 798 | — | ||||||
Total Common Equity Tier 1 Capital (Standardized Approach and Advanced Approaches) | $ | 144,893 | $ | 149,305 | ||||
Additional Tier 1 Capital | ||||||||
Qualifying noncumulative perpetual preferred stock(1) | $ | 18,864 | $ | 18,864 | ||||
Qualifying trust preferred securities(6) | 1,403 | 1,399 | ||||||
Qualifying noncontrolling interests | 30 | 34 | ||||||
Regulatory capital deductions: | ||||||||
Less: Other | 31 | 34 | ||||||
Total Additional Tier 1 Capital (Standardized Approach and Advanced Approaches) | $ | 20,266 | $ | 20,263 | ||||
Total Tier 1 Capital (Common Equity Tier 1 Capital + Additional Tier 1 Capital) (Standardized Approach and Advanced Approaches) | $ | 165,159 | $ | 169,568 | ||||
Tier 2 Capital | ||||||||
Qualifying subordinated debt | $ | 17,338 | $ | 20,064 | ||||
Qualifying trust preferred securities(7) | — | 248 | ||||||
Qualifying noncontrolling interests | 37 | 42 | ||||||
Eligible allowance for credit losses(2)(8) | 14,226 | 14,209 | ||||||
Regulatory capital deduction: | ||||||||
Less: Other | 352 | 293 | ||||||
Total Tier 2 Capital (Standardized Approach) | $ | 31,249 | $ | 34,270 | ||||
Total Capital (Tier 1 Capital + Tier 2 Capital) (Standardized Approach) | $ | 196,408 | $ | 203,838 | ||||
Adjustment for excess of eligible credit reserves over expected credit losses(2)(8) | $ | (9,058) | $ | (9,832) | ||||
Total Tier 2 Capital (Advanced Approaches) | $ | 22,191 | $ | 24,438 | ||||
Total Capital (Tier 1 Capital + Tier 2 Capital) (Advanced Approaches) | $ | 187,350 | $ | 194,006 |
In millions of dollars | Three Months Ended September 30, 2021 | Nine Months Ended September 30, 2021 | ||||||
Common Equity Tier 1 Capital, beginning of period | $ | 150,378 | $ | 147,274 | ||||
Net income | 4,644 | 18,779 | ||||||
Common and preferred dividends declared | (1,306) | (3,987) | ||||||
Net increase in treasury stock | (2,993) | (7,117) | ||||||
Net increase in common stock and additional paid-in capital | 102 | 45 | ||||||
Net change in foreign currency translation adjustment net of hedges, net of tax | (1,312) | (2,063) | ||||||
Net change in unrealized gains (losses) on debt securities AFS, net of tax | (279) | (2,538) | ||||||
Net decrease in defined benefit plans liability adjustment, net of tax | 135 | 936 | ||||||
Net change in adjustment related to change in fair value of financial liabilities attributable to own creditworthiness, net of tax | (23) | 22 | ||||||
Net change in excluded component of fair value hedges | 8 | (12) | ||||||
Net decrease in goodwill, net of related DTLs | 310 | 435 | ||||||
Net decrease in identifiable intangible assets other than MSRs, net of related DTLs | 87 | 267 | ||||||
Net increase in defined benefit pension plan net assets | (73) | (803) | ||||||
Net decrease in DTAs arising from net operating loss, foreign tax credit and general business credit carry-forwards | 295 | 741 | ||||||
Net decrease in CECL 25% provision deferral | (385) | (1,959) | ||||||
Other | 43 | (389) | ||||||
Net change in Common Equity Tier 1 Capital | $ | (747) | $ | 2,357 | ||||
Common Equity Tier 1 Capital, end of period (Standardized Approach and Advanced Approaches) | $ | 149,631 | $ | 149,631 | ||||
Additional Tier 1 Capital, beginning of period | $ | 19,258 | $ | 19,779 | ||||
Net decrease in qualifying perpetual preferred stock | — | (1,454) | ||||||
Net increase in qualifying trust preferred securities | 1 | 5 | ||||||
Net decrease in permitted ownership interests in covered funds | — | 917 | ||||||
Other | 12 | 24 | ||||||
Net change in Additional Tier 1 Capital | $ | 13 | $ | (508) | ||||
Tier 1 Capital, end of period (Standardized Approach and Advanced Approaches) | $ | 168,902 | $ | 168,902 | ||||
Tier 2 Capital, beginning of period (Standardized Approach) | $ | 35,895 | $ | 37,796 | ||||
Net decrease in qualifying subordinated debt | (753) | (3,025) | ||||||
Net increase in eligible allowance for credit losses | 135 | 886 | ||||||
Other | 109 | (271) | ||||||
Net decrease in Tier 2 Capital (Standardized Approach) | $ | (509) | $ | (2,410) | ||||
Tier 2 Capital, end of period (Standardized Approach) | $ | 35,386 | $ | 35,386 | ||||
Total Capital, end of period (Standardized Approach) | $ | 204,288 | $ | 204,288 | ||||
Tier 2 Capital, beginning of period (Advanced Approaches) | $ | 26,336 | $ | 28,906 | ||||
Net decrease in qualifying subordinated debt | (753) | (3,025) | ||||||
Net decrease in excess of eligible credit reserves over expected credit losses | (171) | (89) | ||||||
Other | 109 | (271) | ||||||
Net decrease in Tier 2 Capital (Advanced Approaches) | $ | (815) | $ | (3,385) | ||||
Tier 2 Capital, end of period (Advanced Approaches) | $ | 25,521 | $ | 25,521 | ||||
Total Capital, end of period (Advanced Approaches) | $ | 194,423 | $ | 194,423 |
In millions of dollars | Three Months Ended June 30, 2022 | Six Months Ended June 30, 2022 | ||||||
Common Equity Tier 1 Capital, beginning of period | $ | 143,749 | $ | 149,305 | ||||
Net income | 4,547 | 8,853 | ||||||
Common and preferred dividends declared | (1,248) | (2,541) | ||||||
Net increase in treasury stock | (244) | (2,748) | ||||||
Net increase in common stock and additional paid-in capital | 160 | 207 | ||||||
Net change in foreign currency translation adjustment net of hedges, net of tax | (1,630) | (1,644) | ||||||
Net change in unrealized gains (losses) on debt securities AFS, net of tax | (1,501) | (5,778) | ||||||
Net change in defined benefit plans liability adjustment, net of tax | (89) | 82 | ||||||
Net change in adjustment related to change in fair value of financial liabilities attributable to own creditworthiness, net of tax | (151) | (281) | ||||||
Net decrease in excluded component of fair value hedges | 9 | 57 | ||||||
Net decrease in goodwill, net of related DTLs | 616 | 1,115 | ||||||
Net decrease in identifiable intangible assets other than MSRs, net of related DTLs | 99 | 201 | ||||||
Net decrease in defined benefit pension plan net assets | 204 | 18 | ||||||
Net change in DTAs arising from net operating loss, foreign tax credit and general business credit carry-forwards | 22 | (409) | ||||||
Net change in excess over 10%/15% limitations for other DTAs, certain common stock investments and MSRs | 359 | (798) | ||||||
Net change in CECL transition provision | — | (757) | ||||||
Other | (9) | 11 | ||||||
Net change in Common Equity Tier 1 Capital | $ | 1,144 | $ | (4,412) | ||||
Common Equity Tier 1 Capital, end of period (Standardized Approach and Advanced Approaches) | $ | 144,893 | $ | 144,893 | ||||
Additional Tier 1 Capital, beginning of period | $ | 20,266 | $ | 20,263 | ||||
Net increase in qualifying trust preferred securities | 2 | 4 | ||||||
Other | (2) | (1) | ||||||
Net change in Additional Tier 1 Capital | $ | — | $ | 3 | ||||
Tier 1 Capital, end of period (Standardized Approach and Advanced Approaches) | $ | 165,159 | $ | 165,159 | ||||
Tier 2 Capital, beginning of period (Standardized Approach) | $ | 33,118 | $ | 34,270 | ||||
Net decrease in qualifying subordinated debt | (1,322) | (2,726) | ||||||
Net change in eligible allowance for credit losses | (532) | 17 | ||||||
Other | (15) | (312) | ||||||
Net decrease in Tier 2 Capital (Standardized Approach) | $ | (1,869) | $ | (3,021) | ||||
Tier 2 Capital, end of period (Standardized Approach) | $ | 31,249 | $ | 31,249 | ||||
Total Capital, end of period (Standardized Approach) | $ | 196,408 | $ | 196,408 | ||||
Tier 2 Capital, beginning of period (Advanced Approaches) | $ | 22,965 | $ | 24,438 | ||||
Net decrease in qualifying subordinated debt | (1,322) | (2,726) | ||||||
Net increase in excess of eligible credit reserves over expected credit losses | 563 | 791 | ||||||
Other | (15) | (312) | ||||||
Net decrease in Tier 2 Capital (Advanced Approaches) | $ | (774) | $ | (2,247) | ||||
Tier 2 Capital, end of period (Advanced Approaches) | $ | 22,191 | $ | 22,191 | ||||
Total Capital, end of period (Advanced Approaches) | $ | 187,350 | $ | 187,350 |
In millions of dollars | Three Months Ended September 30, 2021 | Nine Months Ended September 30, 2021 | ||||||
Total Risk-Weighted Assets, beginning of period | $ | 1,271,046 | $ | 1,221,576 | ||||
Changes in Credit Risk-Weighted Assets | ||||||||
General credit risk exposures(1) | (3,460) | 648 | ||||||
Repo-style transactions(2) | 4,283 | 9,450 | ||||||
Securitization exposures(3) | (1,357) | 6,588 | ||||||
Equity exposures | (996) | 706 | ||||||
Over-the-counter (OTC) derivatives(4) | 9,431 | 31,924 | ||||||
Other exposures(5) | 8,031 | 22,433 | ||||||
Off-balance sheet exposures(6) | (3,679) | 6,332 | ||||||
Net change in Credit Risk-Weighted Assets | $ | 12,253 | $ | 78,081 | ||||
Changes in Market Risk-Weighted Assets | ||||||||
Risk levels | $ | (434) | $ | (17,390) | ||||
Model and methodology updates | 1,451 | 2,049 | ||||||
Net change in Market Risk-Weighted Assets(7) | $ | 1,017 | $ | (15,341) | ||||
Total Risk-Weighted Assets, end of period | $ | 1,284,316 | $ | 1,284,316 |
In millions of dollars | Three Months Ended June 30, 2022 | Six Months Ended June 30, 2022 | ||||||
Total Risk-Weighted Assets, beginning of period | $ | 1,263,298 | $ | 1,219,175 | ||||
Changes in Credit Risk-Weighted Assets | ||||||||
General credit risk exposures(1) | (6,611) | (3,346) | ||||||
Repo-style transactions(2) | (9,087) | (11,915) | ||||||
Securitization exposures | (356) | (836) | ||||||
Equity exposures(3) | (3,212) | (1,896) | ||||||
Over-the-counter (OTC) derivatives(4) | (18,542) | 27,178 | ||||||
Other exposures | (2,600) | (2,106) | ||||||
Off-balance sheet exposures(5) | (2,691) | (7,427) | ||||||
Net decrease in Credit Risk-Weighted Assets | $ | (43,099) | $ | (348) | ||||
Changes in Market Risk-Weighted Assets | ||||||||
Risk levels | $ | (4,122) | $ | (3,859) | ||||
Model and methodology updates | 1,382 | 2,491 | ||||||
Net decrease in Market Risk-Weighted Assets(6) | $ | (2,740) | $ | (1,368) | ||||
Total Risk-Weighted Assets, end of period | $ | 1,217,459 | $ | 1,217,459 |
In millions of dollars | Three Months Ended September 30, 2021 | Nine Months Ended September 30, 2021 | ||||||
Total Risk-Weighted Assets, beginning of period | $ | 1,253,785 | $ | 1,255,284 | ||||
Changes in Credit Risk-Weighted Assets | ||||||||
Retail exposures(1) | 1,808 | (14,383) | ||||||
Wholesale exposures(2) | (6,854) | 2,927 | ||||||
Repo-style transactions(3) | 2,884 | 839 | ||||||
Securitization exposures(4) | (927) | 6,884 | ||||||
Equity exposures | (1,036) | 459 | ||||||
Over-the-counter (OTC) derivatives(5) | 6,059 | 15,615 | ||||||
Derivatives CVA(6) | 5,245 | 5,130 | ||||||
Other exposures(7) | 3,947 | 8,737 | ||||||
Supervisory 6% multiplier | 311 | 1,086 | ||||||
Net change in Credit Risk-Weighted Assets | $ | 11,437 | $ | 27,294 | ||||
Changes in Market Risk-Weighted Assets | ||||||||
Risk levels | $ | 330 | $ | (16,485) | ||||
Model and methodology updates | 1,452 | 2,049 | ||||||
Net change in Market Risk-Weighted Assets(8) | $ | 1,782 | $ | (14,436) | ||||
Net change in Operational Risk-Weighted Assets(9) | $ | (1,707) | $ | (2,845) | ||||
Total Risk-Weighted Assets, end of period | $ | 1,265,297 | $ | 1,265,297 |
In millions of dollars | Three Months Ended June 30, 2022 | Six Months Ended June 30, 2022 | ||||||
Total Risk-Weighted Assets, beginning of period | $ | 1,259,935 | $ | 1,209,374 | ||||
Changes in Credit Risk-Weighted Assets | ||||||||
Retail exposures(1) | 6,092 | 4,191 | ||||||
Wholesale exposures(2) | (12,806) | (3,870) | ||||||
Repo-style transactions(3) | (3,922) | (9,673) | ||||||
Securitization exposures | 278 | 476 | ||||||
Equity exposures(4) | (3,228) | (1,523) | ||||||
Over-the-counter (OTC) derivatives(5) | (7,155) | 10,005 | ||||||
Derivatives CVA(6) | (9,292) | 16,241 | ||||||
Other exposures(7) | 6,316 | 4,709 | ||||||
Supervisory 6% multiplier | (865) | 259 | ||||||
Net change in Credit Risk-Weighted Assets | $ | (24,582) | $ | 20,815 | ||||
Changes in Market Risk-Weighted Assets | ||||||||
Risk levels | $ | (3,267) | $ | (1,213) | ||||
Model and methodology updates | 1,382 | 2,491 | ||||||
Net change in Market Risk-Weighted Assets(8) | $ | (1,885) | $ | 1,278 | ||||
Net increase in Operational Risk-Weighted Assets | $ | 2,488 | $ | 4,489 | ||||
Total Risk-Weighted Assets, end of period | $ | 1,235,956 | $ | 1,235,956 |
In millions of dollars, except ratios | September 30, 2021 | June 30, 2021 | December 31, 2020 | ||||||||
Tier 1 Capital | $ | 168,902 | $ | 169,636 | $ | 167,053 | |||||
Total Leverage Exposure | |||||||||||
On-balance sheet assets(1)(2)(3) | $ | 2,349,414 | $ | 2,345,584 | $ | 1,864,374 | |||||
Certain off-balance sheet exposures:(4) | |||||||||||
Potential future exposure on derivative contracts | 222,157 | 216,555 | 183,604 | ||||||||
Effective notional of sold credit derivatives, net(5) | 21,987 | 25,590 | 32,640 | ||||||||
Counterparty credit risk for repo-style transactions(6) | 21,174 | 21,375 | 20,168 | ||||||||
Unconditionally cancellable commitments | 70,541 | 70,931 | 71,163 | ||||||||
Other off-balance sheet exposures(7) | 263,361 | 261,881 | 253,754 | ||||||||
Total of certain off-balance sheet exposures | $ | 599,220 | $ | 596,332 | $ | 561,329 | |||||
Less: Tier 1 Capital deductions | 37,584 | 38,261 | 38,822 | ||||||||
Total Leverage Exposure(3) | $ | 2,911,050 | $ | 2,903,655 | $ | 2,386,881 | |||||
Supplementary Leverage ratio | 5.80 | % | 5.84 | % | 7.00 | % |
In millions of dollars, except ratios | June 30, 2022 | March 31, 2022 | December 31, 2021 | ||||||||
Tier 1 Capital | $ | 165,159 | $ | 164,015 | $ | 169,568 | |||||
Total Leverage Exposure | |||||||||||
On-balance sheet assets(1)(2) | $ | 2,382,324 | $ | 2,376,310 | $ | 2,389,237 | |||||
Certain off-balance sheet exposures:(3) | |||||||||||
Potential future exposure on derivative contracts | 178,183 | 200,710 | 222,241 | ||||||||
Effective notional of sold credit derivatives, net(4) | 33,187 | 30,493 | 23,788 | ||||||||
Counterparty credit risk for repo-style transactions(5) | 20,022 | 23,902 | 25,775 | ||||||||
Other off-balance sheet exposures | 359,222 | 347,053 | 334,526 | ||||||||
Total of certain off-balance sheet exposures | $ | 590,614 | $ | 602,158 | $ | 606,330 | |||||
Less: Tier 1 Capital deductions | 37,649 | 38,935 | 37,803 | ||||||||
Total Leverage Exposure | $ | 2,935,289 | $ | 2,939,533 | $ | 2,957,764 | |||||
Supplementary Leverage ratio | 5.63 | % | 5.58 | % | 5.73 | % |
Advanced Approaches | Standardized Approach | Advanced Approaches | Standardized Approach | |||||||||||||||||||||||||||||||||||||||||||
In millions of dollars, except ratios | In millions of dollars, except ratios | Effective Minimum Requirement(1) | September 30, 2021 | June 30, 2021 | December 31, 2020 | September 30, 2021 | June 30, 2021 | December 31, 2020 | In millions of dollars, except ratios | Effective Minimum Requirement(1) | June 30, 2022 | March 31, 2022 | December 31, 2021 | June 30, 2022 | March 31, 2022 | December 31, 2021 | ||||||||||||||||||||||||||||||
Common Equity Tier 1 Capital(2) | Common Equity Tier 1 Capital(2) | $ | 147,459 | $ | 146,729 | $ | 142,854 | $ | 147,459 | $ | 146,729 | $ | 142,854 | Common Equity Tier 1 Capital(2) | $ | 148,742 | $ | 147,400 | $ | 148,548 | $ | 148,742 | $ | 147,400 | $ | 148,548 | ||||||||||||||||||||
Tier 1 Capital | Tier 1 Capital | 149,588 | 148,858 | 144,962 | 149,588 | 148,858 | 144,962 | Tier 1 Capital | 150,870 | 149,527 | 150,679 | 150,870 | 149,527 | 150,679 | ||||||||||||||||||||||||||||||||
Total Capital (Tier 1 Capital + Tier 2 Capital)(2)(3) | Total Capital (Tier 1 Capital + Tier 2 Capital)(2)(3) | 166,169 | 165,462 | 161,319 | 174,652 | 173,964 | 169,303 | Total Capital (Tier 1 Capital + Tier 2 Capital)(2)(3) | 166,094 | 165,783 | 166,921 | 174,213 | 174,315 | 175,427 | ||||||||||||||||||||||||||||||||
Total Risk-Weighted Assets | Total Risk-Weighted Assets | 1,062,794 | 1,060,121 | 1,021,479 | 1,099,462 | 1,093,887 | 1,038,031 | Total Risk-Weighted Assets | 1,057,336 | 1,063,411 | 1,017,774 | 1,068,525 | 1,094,456 | 1,066,015 | ||||||||||||||||||||||||||||||||
Credit Risk(2) | Credit Risk(2) | $ | 756,647 | $ | 759,744 | $ | 716,513 | $ | 1,041,022 | $ | 1,043,517 | $ | 977,366 | Credit Risk(2) | $ | 780,785 | $ | 787,496 | $ | 737,802 | $ | 1,023,309 | $ | 1,043,646 | $ | 1,016,293 | ||||||||||||||||||||
Market Risk | Market Risk | 55,566 | 48,799 | 59,815 | 58,440 | 50,370 | 60,665 | Market Risk | 44,755 | 48,434 | 48,089 | 45,216 | 50,810 | 49,722 | ||||||||||||||||||||||||||||||||
Operational Risk | Operational Risk | 250,581 | 251,578 | 245,151 | — | — | — | Operational Risk | 231,796 | 227,481 | 231,883 | — | — | — | ||||||||||||||||||||||||||||||||
Common Equity Tier 1 Capital ratio(4)(5) | Common Equity Tier 1 Capital ratio(4)(5) | 7.0 | % | 13.87 | % | 13.84 | % | 13.99 | % | 13.41 | % | 13.41 | % | 13.76 | % | Common Equity Tier 1 Capital ratio(4)(5) | 7.0 | % | 14.07 | % | 13.86 | % | 14.60 | % | 13.92 | % | 13.47 | % | 13.93 | % | ||||||||||||||||
Tier 1 Capital ratio(4)(5) | Tier 1 Capital ratio(4)(5) | 8.5 | 14.08 | 14.04 | 14.19 | 13.61 | 13.61 | 13.97 | Tier 1 Capital ratio(4)(5) | 8.5 | 14.27 | 14.06 | 14.80 | 14.12 | 13.66 | 14.13 | ||||||||||||||||||||||||||||||
Total Capital ratio(4)(5) | Total Capital ratio(4)(5) | 10.5 | 15.64 | 15.61 | 15.79 | 15.89 | 15.90 | 16.31 | Total Capital ratio(4)(5) | 10.5 | 15.71 | 15.59 | 16.40 | 16.30 | 15.93 | 16.46 |
In millions of dollars, except ratios | In millions of dollars, except ratios | Effective Minimum Requirement | September 30, 2021 | June 30, 2021 | December 31, 2020 | In millions of dollars, except ratios | Effective Minimum Requirement | June 30, 2022 | March 31, 2022 | December 31, 2021 | ||||||||||||||||||
Quarterly Adjusted Average Total Assets(2)(6) | Quarterly Adjusted Average Total Assets(2)(6) | $ | 1,682,993 | $ | 1,680,681 | $ | 1,680,026 | Quarterly Adjusted Average Total Assets(2)(6) | $ | 1,680,846 | $ | 1,697,393 | $ | 1,716,596 | ||||||||||||||
Total Leverage Exposure(2)(7) | Total Leverage Exposure(2)(7) | 2,205,471 | 2,199,985 | 2,180,821 | Total Leverage Exposure(2)(7) | 2,178,239 | 2,210,947 | 2,236,839 | ||||||||||||||||||||
Tier 1 Leverage ratio(5) | Tier 1 Leverage ratio(5) | 5.0 | % | 8.89 | % | 8.86 | % | 8.63 | % | Tier 1 Leverage ratio(5) | 5.0 | % | 8.98 | % | 8.81 | % | 8.78 | % | ||||||||||
Supplementary Leverage ratio(5) | Supplementary Leverage ratio(5) | 6.0 | 6.78 | 6.77 | 6.65 | Supplementary Leverage ratio(5) | 6.0 | 6.93 | 6.76 | 6.74 |
Common Equity Tier 1 Capital ratio | Tier 1 Capital ratio | Total Capital ratio | Common Equity Tier 1 Capital ratio | Tier 1 Capital ratio | Total Capital ratio | |||||||||||||||||||||||||||||||||||
In basis points | In basis points | Impact of $100 million change in Common Equity Tier 1 Capital | Impact of $1 billion change in risk- weighted assets | Impact of $100 million change in Tier 1 Capital | Impact of $1 billion change in risk- weighted assets | Impact of $100 million change in Total Capital | Impact of $1 billion change in risk- weighted assets | In basis points | Impact of $100 million change in Common Equity Tier 1 Capital | Impact of $1 billion change in risk- weighted assets | Impact of $100 million change in Tier 1 Capital | Impact of $1 billion change in risk- weighted assets | Impact of $100 million change in Total Capital | Impact of $1 billion change in risk- weighted assets | ||||||||||||||||||||||||||
Citigroup | Citigroup | Citigroup | ||||||||||||||||||||||||||||||||||||||
Advanced Approaches | Advanced Approaches | 0.8 | 0.9 | 0.8 | 1.1 | 0.8 | 1.2 | Advanced Approaches | 0.8 | 0.9 | 0.8 | 1.1 | 0.8 | 1.2 | ||||||||||||||||||||||||||
Standardized Approach | Standardized Approach | 0.8 | 0.9 | 0.8 | 1.0 | 0.8 | 1.2 | Standardized Approach | 0.8 | 1.0 | 0.8 | 1.1 | 0.8 | 1.3 | ||||||||||||||||||||||||||
Citibank | Citibank | Citibank | ||||||||||||||||||||||||||||||||||||||
Advanced Approaches | Advanced Approaches | 0.9 | 1.3 | 0.9 | 1.3 | 0.9 | 1.5 | Advanced Approaches | 0.9 | 1.3 | 0.9 | 1.4 | 0.9 | 1.5 | ||||||||||||||||||||||||||
Standardized Approach | Standardized Approach | 0.9 | 1.2 | 0.9 | 1.2 | 0.9 | 1.4 | Standardized Approach | 0.9 | 1.3 | 0.9 | 1.3 | 0.9 | 1.5 |
Tier 1 Leverage ratio | Supplementary Leverage ratio | |||||||||||||
In basis points | Impact of $100 million change in Tier 1 Capital | Impact of $1 billion change in quarterly adjusted average total assets | Impact of $100 million change in Tier 1 Capital | Impact of $1 billion change in Total Leverage Exposure | ||||||||||
Citigroup | 0.4 | 0.3 | 0.3 | 0.2 | ||||||||||
Citibank | 0.6 | 0.5 | 0.5 | 0.3 |
September 30, 2021 | June 30, 2022 | |||||||||||||||
In billions of dollars, except ratios | In billions of dollars, except ratios | External TLAC | LTD | In billions of dollars, except ratios | External TLAC | LTD | ||||||||||
Total eligible amount | Total eligible amount | $ | 318 | $ | 143 | Total eligible amount | $ | 329 | $ | 157 | ||||||
% of Standardized Approach risk- weighted assets | 24.8 | % | 11.1 | % | ||||||||||||
% of Advanced Approaches risk- weighted assets | % of Advanced Approaches risk- weighted assets | 26.6 | % | 12.7 | % | |||||||||||
Effective minimum requirement(1)(2) | Effective minimum requirement(1)(2) | 22.5 | 9.0 | Effective minimum requirement(1)(2) | 22.5 | 9.0 | ||||||||||
Surplus amount | Surplus amount | $ | 29 | $ | 27 | Surplus amount | $ | 51 | $ | 46 | ||||||
% of Total Leverage Exposure | % of Total Leverage Exposure | 10.9 | % | 4.9 | % | % of Total Leverage Exposure | 11.2 | % | 5.4 | % | ||||||
Effective minimum requirement | Effective minimum requirement | 9.5 | 4.5 | Effective minimum requirement | 9.5 | 4.5 | ||||||||||
Surplus amount | Surplus amount | $ | 41 | $ | 12 | Surplus amount | $ | 50 | $ | 25 |
Citigroup | Citibank | |||||||||||||||||||
Effective Minimum Requirement(2) | Advanced Approaches | Standardized Approach | Effective Minimum Requirement | Advanced Approaches | Standardized Approach | |||||||||||||||
Common Equity Tier 1 Capital ratio | 10.0 | % | 11.55 | % | 11.38 | % | 7.0 | % | 13.59 | % | 13.14 | % | ||||||||
Tier 1 Capital ratio | 11.5 | 13.07 | 12.88 | 8.5 | 13.79 | 13.33 | ||||||||||||||
Total Capital ratio | 13.5 | 15.11 | 15.65 | 10.5 | 15.35 | 15.62 |
Effective Minimum Requirement | Citigroup | Effective Minimum Requirement | Citibank | |||||||||||||||||
Tier 1 Leverage ratio | 4.0 | % | 7.15 | % | 5.0 | % | 8.71 | % | ||||||||||||
Supplementary Leverage ratio | 5.0 | 5.68 | 6.0 | 6.64 |
Citigroup | Citibank | ||||||||||||||||||||||
Effective Minimum Requirement, Advanced Approaches | Effective Minimum Requirement, Standardized Approach | Advanced Approaches | Standardized Approach | Effective Minimum Requirement(2) | Advanced Approaches | Standardized Approach | |||||||||||||||||
Common Equity Tier 1 Capital ratio | 10.0 | % | 10.5 | % | 11.50 | % | 11.68 | % | 7.0 | % | 13.87 | % | 13.73 | % | |||||||||
Tier 1 Capital ratio | 11.5 | 12.0 | 13.15 | 13.35 | 8.5 | 14.08 | 13.93 | ||||||||||||||||
Total Capital ratio | 13.5 | 14.0 | 14.95 | 15.92 | 10.5 | 15.52 | 16.12 |
Effective Minimum Requirement | Citigroup | Effective Minimum Requirement | Citibank | |||||||||||||||||
Tier 1 Leverage ratio | 4.0 | % | 6.92 % | 5.0 | % | 8.86 % | ||||||||||||||
Supplementary Leverage ratio | 5.0 | 5.52 | 6.0 | 6.83 |
In millions of dollars or shares, except per share amounts | September 30, 2021 | December 31, 2020 | ||||||
Total Citigroup stockholders’ equity | $ | 200,875 | $ | 199,442 | ||||
Less: Preferred stock | 17,995 | 19,480 | ||||||
Common stockholders’ equity | $ | 182,880 | $ | 179,962 | ||||
Less: | ||||||||
Goodwill | 21,573 | 22,162 | ||||||
Identifiable intangible assets (other than MSRs) | 4,144 | 4,411 | ||||||
Goodwill and identifiable intangible assets (other than MSRs) related to assets held-for-sale (HFS) | 257 | — | ||||||
Tangible common equity (TCE) | $ | 156,906 | $ | 153,389 | ||||
Common shares outstanding (CSO) | 1,984.3 | 2,082.1 | ||||||
Book value per share (common stockholders’ equity/CSO) | $ | 92.16 | $ | 86.43 | ||||
Tangible book value per share (TCE/CSO) | 79.07 | 73.67 |
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||
In millions of dollars | 2021 | 2020 | 2021 | 2020 | ||||||||||
Net income available to common shareholders | $ | 4,378 | $ | 2,862 | $ | 17,968 | $ | 5,910 | ||||||
Average common stockholders’ equity | 183,613 | 174,943 | 182,422 | 174,934 | ||||||||||
Average TCE | 157,371 | 149,012 | 156,047 | 149,018 | ||||||||||
Return on average common stockholders’ equity | 9.5 | % | 6.5 | % | 13.2 | % | 4.5 | % | ||||||
RoTCE(1) | 11.0 | 7.6 | 15.4 | 5.3 |
In millions of dollars or shares, except per share amounts | June 30, 2022 | December 31, 2021 | ||||||
Total Citigroup stockholders’ equity | $ | 199,014 | $ | 201,972 | ||||
Less: Preferred stock | 18,995 | 18,995 | ||||||
Common stockholders’ equity | $ | 180,019 | $ | 182,977 | ||||
Less: | ||||||||
Goodwill | 19,597 | 21,299 | ||||||
Identifiable intangible assets (other than MSRs) | 3,926 | 4,091 | ||||||
Goodwill and identifiable intangible assets (other than MSRs) related to assets held-for-sale (HFS) | 1,081 | 510 | ||||||
Tangible common equity (TCE) | $ | 155,415 | $ | 157,077 | ||||
Common shares outstanding (CSO) | 1,936.7 | 1,984.4 | ||||||
Book value per share (common stockholders’ equity/CSO) | $ | 92.95 | $ | 92.21 | ||||
Tangible book value per share (TCE/CSO) | 80.25 | 79.16 |
Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||
In millions of dollars | 2022 | 2021 | 2022 | 2021 | ||||||||||
Net income available to common shareholders | $ | 4,309 | $ | 5,940 | $ | 8,336 | $ | 13,590 | ||||||
Average common stockholders’ equity | 178,981 | 183,231 | 180,075 | 181,826 | ||||||||||
Average TCE | 154,439 | 156,946 | 155,318 | 155,760 | ||||||||||
Return on average common stockholders’ equity | 9.7 | % | 13.0 | % | 9.3 | % | 15.1 | % | ||||||
RoTCE | 11.2 | 15.2 | 10.8 | 17.6 |
MANAGING GLOBAL RISK | ||||||||
CREDIT RISK(1) | ||||||||
Corporate Credit | ||||||||
Consumer Credit | ||||||||
Additional Consumer and Corporate Credit Details | ||||||||
Loans Outstanding | ||||||||
Details of Credit Loss Experience | ||||||||
Allowance for Credit Losses on Loans (ACLL) | ||||||||
Non-Accrual Loans and Assets and Renegotiated Loans | ||||||||
LIQUIDITY RISK | ||||||||
High-Quality Liquid Assets (HQLA) | ||||||||
Liquidity Coverage Ratio (LCR) | ||||||||
Loans | ||||||||
Deposits | ||||||||
Long-Term Debt | ||||||||
Secured Funding Transactions and Short-Term Borrowings | ||||||||
Credit Ratings | ||||||||
MARKET RISK(1) | ||||||||
Market Risk of Non-Trading Portfolios | ||||||||
Market Risk of Trading Portfolios | ||||||||
LIBOR Transition Risk | ||||||||
Country Risk | ||||||||
Russia | ||||||||
Ukraine | ||||||||
Turkey | ||||||||
Argentina |
June 30, 2022 | March 31, 2022 | December 31, 2021 | ||||||||||||||||||||||||||||||||||||
In billions of dollars | Due within 1 year | Greater than 1 year but within 5 years | Greater than 5 years | Total exposure | Due within 1 year | Greater than 1 year but within 5 years | Greater than 5 years | Total exposure | Due within 1 year | Greater than 1 year but within 5 years | Greater than 5 years | Total exposure | ||||||||||||||||||||||||||
Direct outstandings (on-balance sheet)(1) | $ | 158 | $ | 117 | $ | 21 | $ | 296 | $ | 164 | $ | 117 | $ | 21 | $ | 302 | $ | 145 | $ | 119 | $ | 20 | $ | 284 | ||||||||||||||
Unfunded lending commitments (off-balance sheet)(2) | 141 | 264 | 9 | 414 | 148 | 268 | 10 | 426 | 147 | 269 | 13 | 429 | ||||||||||||||||||||||||||
Total exposure | $ | 299 | $ | 381 | $ | 30 | $ | 710 | $ | 312 | $ | 385 | $ | 31 | $ | 728 | $ | 292 | $ | 388 | $ | 33 | $ | 713 |
June 30, 2022 | March 31, 2022 | December 31, 2021 | |||||||||
North America | 56 | % | 56 | % | 56 | % | |||||
EMEA | 25 | 25 | 25 | ||||||||
Asia | 12 | 13 | 13 | ||||||||
Latin America | 7 | 6 | 6 | ||||||||
Total | 100 | % | 100 | % | 100 | % |
Total exposure | |||||||||||
June 30, 2022 | March 31, 2022 | December 31, 2021 | |||||||||
AAA/AA/A | 50 | % | 49 | % | 48 | % | |||||
BBB | 33 | 33 | 34 | ||||||||
BB/B | 15 | 16 | 16 | ||||||||
CCC or below | 2 | 2 | 2 | ||||||||
Total | 100 | % | 100 | % | 100 | % |
Total exposure | |||||||||||
June 30, 2022 | March 31, 2022 | December 31, 2021 | |||||||||
Transportation and industrials | 20 | % | 20 | % | 20 | % | |||||
Technology, media and telecom | 12 | 12 | 12 | ||||||||
Consumer retail | 11 | 11 | 11 | ||||||||
Real estate | 10 | 9 | 10 | ||||||||
Power, chemicals, metals and mining | 9 | 9 | 9 | ||||||||
Banks and finance companies | 9 | 9 | 8 | ||||||||
Asset managers and funds | 7 | 8 | 8 | ||||||||
Energy and commodities | 7 | 7 | 7 | ||||||||
Health | 5 | 5 | 5 | ||||||||
Insurance | 4 | 4 | 4 | ||||||||
Public sector | 3 | 3 | 3 | ||||||||
Financial markets infrastructure | 2 | 2 | 2 | ||||||||
Securities firms | — | — | — | ||||||||
Other industries | 1 | 1 | 1 | ||||||||
Total | 100 | % | 100 | % | 100 | % |
Non-investment grade | Selected metrics | ||||||||||||||||||||||||||||||||||
In millions of dollars | Total credit exposure | Funded(1) | Unfunded(1) | Investment grade | Non-criticized | Criticized performing | Criticized non-performing(2) | 30 days or more past due and accruing | Net credit losses (recoveries) | Credit derivative hedges(3) | |||||||||||||||||||||||||
Transportation and industrials | $ | 138,776 | $ | 53,641 | $ | 85,135 | $ | 107,569 | $ | 19,402 | $ | 11,304 | $ | 501 | $ | 254 | $ | (17) | $ | (8,281) | |||||||||||||||
Autos(4) | 46,698 | 18,516 | 28,182 | 39,064 | 5,195 | 2,319 | 120 | 63 | — | (2,976) | |||||||||||||||||||||||||
Transportation | 25,413 | 11,394 | 14,019 | 18,245 | 2,701 | 4,293 | 174 | 21 | (23) | (1,293) | |||||||||||||||||||||||||
Industrials | 66,665 | 23,731 | 42,934 | 50,260 | 11,506 | 4,692 | 207 | 170 | 6 | (4,012) | |||||||||||||||||||||||||
Technology, media and telecom | 85,235 | 31,428 | 53,807 | 66,879 | 14,677 | 3,380 | 299 | 174 | 2 | (5,942) | |||||||||||||||||||||||||
Consumer retail | 78,690 | 34,924 | 43,766 | 61,970 | 12,749 | 3,335 | 636 | 253 | 10 | (4,833) | |||||||||||||||||||||||||
Real estate | 70,343 | 47,001 | 23,342 | 60,352 | 6,520 | 3,469 | 2 | 68 | 3 | (670) | |||||||||||||||||||||||||
Power, chemicals, metals and mining | 63,355 | 19,886 | 43,469 | 49,982 | 11,889 | 1,226 | 258 | 243 | 9 | (4,842) | |||||||||||||||||||||||||
Power | 24,427 | 4,975 | 19,452 | 19,951 | 4,024 | 342 | 110 | 9 | — | (2,227) | |||||||||||||||||||||||||
Chemicals | 24,992 | 8,624 | 16,368 | 20,717 | 3,697 | 469 | 109 | 71 | 9 | (2,006) | |||||||||||||||||||||||||
Metals and mining | 13,936 | 6,287 | 7,649 | 9,314 | 4,168 | 415 | 39 | 163 | — | (609) | |||||||||||||||||||||||||
Banks and finance companies | 64,180 | 39,794 | 24,386 | 53,433 | 6,704 | 3,999 | 44 | 118 | 14 | (937) | |||||||||||||||||||||||||
Asset managers and funds | 47,022 | 21,154 | 25,868 | 45,669 | 1,242 | 107 | 4 | 392 | — | (866) | |||||||||||||||||||||||||
Energy and commodities(5) | 52,574 | 16,822 | 35,752 | 43,821 | 6,577 | 1,962 | 214 | 132 | 1 | (3,532) | |||||||||||||||||||||||||
Health | 33,619 | 9,161 | 24,458 | 28,287 | 4,585 | 736 | 11 | 121 | (1) | (2,485) | |||||||||||||||||||||||||
Insurance | 29,489 | 3,519 | 25,970 | 28,558 | 928 | 3 | — | 28 | — | (2,658) | |||||||||||||||||||||||||
Public sector | 25,428 | 14,668 | 10,760 | 22,040 | 1,462 | 1,716 | 210 | 46 | — | (1,444) | |||||||||||||||||||||||||
Financial markets infrastructure | 13,472 | 124 | 13,348 | 13,450 | 22 | — | — | 1 | — | (19) | |||||||||||||||||||||||||
Securities firms | 1,408 | 701 | 707 | 330 | 906 | 170 | 2 | 9 | — | (3) | |||||||||||||||||||||||||
Other industries | 6,237 | 3,148 | 3,089 | 3,834 | 1,998 | 340 | 65 | 50 | 2 | (335) | |||||||||||||||||||||||||
Total | $ | 709,828 | $ | 295,971 | $ | 413,857 | $ | 586,174 | $ | 89,661 | $ | 31,747 | $ | 2,246 | $ | 1,889 | $ | 23 | $ | (36,847) |
Non-investment grade | Selected metrics | ||||||||||||||||||||||||||||||||||
In millions of dollars | Total credit exposure | Funded(1) | Unfunded(1) | Investment grade | Non-criticized | Criticized performing | Criticized non-performing(2) | 30 days or more past due and accruing | Net credit losses (recoveries) | Credit derivative hedges(3) | |||||||||||||||||||||||||
Transportation and industrials | $ | 143,445 | $ | 51,502 | $ | 91,943 | $ | 110,047 | $ | 19,051 | $ | 13,196 | $ | 1,151 | $ | 384 | $ | 127 | $ | (8,791) | |||||||||||||||
Autos(4) | 48,210 | 18,662 | 29,548 | 39,824 | 5,365 | 2,906 | 115 | 49 | 2 | (3,228) | |||||||||||||||||||||||||
Transportation | 26,897 | 12,085 | 14,812 | 19,233 | 2,344 | 4,447 | 873 | 105 | 104 | (1,334) | |||||||||||||||||||||||||
Industrials | 68,338 | 20,755 | 47,583 | 50,990 | 11,342 | 5,843 | 163 | 230 | 21 | (4,229) | |||||||||||||||||||||||||
Technology, media and telecom | 84,333 | 28,542 | 55,791 | 64,676 | 15,873 | 3,587 | 197 | 156 | 11 | (6,875) | |||||||||||||||||||||||||
Consumer retail | 78,994 | 32,894 | 46,100 | 60,686 | 13,590 | 4,311 | 407 | 224 | 100 | (5,115) | |||||||||||||||||||||||||
Real estate | 69,808 | 46,220 | 23,588 | 58,089 | 6,761 | 4,923 | 35 | 116 | 50 | (798) | |||||||||||||||||||||||||
Power, chemicals, metals and mining | 65,641 | 20,224 | 45,417 | 53,575 | 10,708 | 1,241 | 117 | 292 | 22 | (5,808) | |||||||||||||||||||||||||
Power | 26,199 | 5,610 | 20,589 | 22,860 | 2,832 | 420 | 87 | 100 | 17 | (3,032) | |||||||||||||||||||||||||
Chemicals | 25,550 | 8,525 | 17,025 | 20,788 | 4,224 | 528 | 10 | 88 | 6 | (2,141) | |||||||||||||||||||||||||
Metals and mining | 13,892 | 6,089 | 7,803 | 9,927 | 3,652 | 293 | 20 | 104 | (1) | (635) | |||||||||||||||||||||||||
Banks and finance companies | 58,252 | 36,804 | 21,448 | 49,465 | 4,892 | 3,890 | 5 | 150 | (5) | (680) | |||||||||||||||||||||||||
Asset managers and funds | 55,517 | 26,879 | 28,638 | 54,119 | 1,019 | 377 | 2 | 211 | — | (869) | |||||||||||||||||||||||||
Energy and commodities(5) | 48,973 | 13,485 | 35,488 | 38,972 | 7,517 | 2,220 | 264 | 224 | 78 | (3,679) | |||||||||||||||||||||||||
Health | 33,393 | 8,826 | 24,567 | 27,600 | 4,702 | 942 | 149 | 95 | — | (2,465) | |||||||||||||||||||||||||
Insurance | 28,495 | 3,162 | 25,333 | 27,447 | 987 | 61 | — | 2 | 1 | (2,711) | |||||||||||||||||||||||||
Public sector | 23,842 | 12,464 | 11,378 | 21,035 | 1,527 | 1,275 | 5 | 37 | (3) | (1,282) | |||||||||||||||||||||||||
Financial markets infrastructure | 14,341 | 109 | 14,232 | 14,323 | 18 | — | — | — | — | (22) | |||||||||||||||||||||||||
Securities firms | 1,472 | 613 | 859 | 605 | 816 | 51 | — | 4 | — | (5) | |||||||||||||||||||||||||
Other industries | 6,591 | 2,803 | 3,788 | 4,151 | 1,890 | 489 | 61 | — | 5 | (169) | |||||||||||||||||||||||||
Total | $ | 713,097 | $ | 284,527 | $ | 428,570 | $ | 584,790 | $ | 89,351 | $ | 36,563 | $ | 2,393 | $ | 1,895 | $ | 386 | $ | (39,269) |
June 30, 2022 | March 31, 2022 | December 31, 2021 | |||||||||
AAA/AA/A | 37 | % | 38 | % | 35 | % | |||||
BBB | 44 | 46 | 49 | ||||||||
BB/B | 14 | 13 | 13 | ||||||||
CCC or below | 5 | 3 | 3 | ||||||||
Total | 100 | % | 100 | % | 100 | % |
In billions of dollars | 3Q’20 | 4Q’20 | 1Q’21 | 2Q’21 | 3Q’21(2) | |||||||||||||||
Retail banking: | ||||||||||||||||||||
Mortgages | $ | 87.5 | $ | 88.9 | $ | 86.7 | $ | 86.3 | $ | 79.8 | ||||||||||
Personal, small business and other | 38.3 | 40.1 | 39.1 | 39.0 | 37.0 | |||||||||||||||
Total retail banking | $ | 125.8 | $ | 129.0 | $ | 125.8 | $ | 125.3 | $ | 116.8 | ||||||||||
Cards: | ||||||||||||||||||||
Citi-branded cards | $ | 102.2 | $ | 106.7 | $ | 99.6 | $ | 102.9 | $ | 100.6 | ||||||||||
Citi retail services | 44.4 | 46.4 | 42.5 | 42.7 | 42.7 | |||||||||||||||
Total cards | $ | 146.6 | $ | 153.1 | $ | 142.1 | $ | 145.6 | $ | 143.3 | ||||||||||
Total GCB | $ | 272.4 | $ | 282.1 | $ | 267.9 | $ | 270.9 | $ | 260.1 | ||||||||||
GCB regional distribution: | ||||||||||||||||||||
North America | 66 | % | 65 | % | 64 | % | 64 | % | 67 | % | ||||||||||
Latin America | 5 | 5 | 5 | 5 | 5 | |||||||||||||||
Asia(3) | 29 | 30 | 31 | 31 | 28 | |||||||||||||||
Total GCB | 100 | % | 100 | % | 100 | % | 100 | % | 100 | % | ||||||||||
Corporate/Other(4) | $ | 7.6 | $ | 6.7 | $ | 6.1 | $ | 5.0 | $ | 4.2 | ||||||||||
Total consumer loans | $ | 280.0 | $ | 288.8 | $ | 274.0 | $ | 275.9 | $ | 264.3 |
In billions of dollars | 2Q21 | 3Q21(2) | 4Q21(2) | 1Q22(2) | 2Q22(2) | |||||||||||||||
Personal Banking and Wealth Management | ||||||||||||||||||||
U.S. Personal Banking | ||||||||||||||||||||
Cards | ||||||||||||||||||||
Branded cards | $ | 82.1 | $ | 82.8 | $ | 87.9 | $ | 85.9 | $ | 91.6 | ||||||||||
Retail services | 42.7 | 42.7 | 46.0 | 44.1 | 45.8 | |||||||||||||||
Retail banking | ||||||||||||||||||||
Mortgages(5) | 31.0 | 30.5 | 30.2 | 30.5 | 32.3 | |||||||||||||||
Personal, small business and other | 3.3 | 2.9 | 2.8 | 2.8 | 3.1 | |||||||||||||||
Global Wealth(3)(4) | ||||||||||||||||||||
Cards | 3.7 | 3.7 | 4.0 | 3.8 | 4.0 | |||||||||||||||
Mortgages(5) | 72.8 | 73.9 | 74.6 | 75.4 | 77.8 | |||||||||||||||
Personal, small business and other(6) | 73.2 | 72.7 | 72.7 | 71.0 | 67.0 | |||||||||||||||
Total | $ | 308.8 | $ | 309.2 | $ | 318.2 | $ | 313.5 | $ | 321.6 | ||||||||||
Legacy Franchises | ||||||||||||||||||||
Asia Consumer(7) | $ | 53.5 | $ | 42.9 | $ | 41.1 | $ | 19.5 | $ | 17.3 | ||||||||||
Mexico Consumer (excludes Mexico SBMM) | 13.5 | 13.0 | 13.3 | 13.6 | 13.5 | |||||||||||||||
Legacy Holdings Assets(8) | 5.0 | 4.2 | 3.9 | 3.7 | 3.2 | |||||||||||||||
Total | $ | 72.0 | $ | 60.1 | $ | 58.3 | $ | 36.8 | $ | 34.0 | ||||||||||
Total consumer loans | $ | 380.8 | $ | 369.3 | $ | 376.5 | $ | 350.3 | $ | 355.6 |
Retail Banking |
Global Wealth |
Asia(1) Consumer |
Mexico Consumer |
FICO distribution(1) | September 30, 2021 | June 30, 2021 | September 30, 2020 | ||||||||
> 760 | 48 | % | 49 | % | 43 | % | |||||
680–760 | 39 | 39 | 41 | ||||||||
< 680 | 13 | 12 | 16 | ||||||||
Total | 100 | % | 100 | % | 100 | % |
FICO distribution(1) | June 30, 2022 | March 31, 2022 | June 30, 2021 | ||||||||
> 760 | 49 | % | 48 | % | 49 | % | |||||
680–760 | 38 | 39 | 39 | ||||||||
< 680 | 13 | 13 | 12 | ||||||||
Total | 100 | % | 100 | % | 100 | % |
FICO distribution(1) | September 30, 2021 | June 30, 2021 | September 30, 2020 | ||||||||
> 760 | 27 | % | 28 | % | 26 | % | |||||
680–760 | 45 | 45 | 44 | ||||||||
< 680 | 28 | 27 | 30 | ||||||||
Total | 100 | % | 100 | % | 100 | % |
FICO distribution(1) | June 30, 2022 | March 31, 2022 | June 30, 2021 | ||||||||
> 760 | 28 | % | 27 | % | 28 | % | |||||
680–760 | 43 | 44 | 45 | ||||||||
< 680 | 29 | 29 | 27 | ||||||||
Total | 100 | % | 100 | % | 100 | % |
EOP loans(2) | 90+ days past due(3) | 30–89 days past due(3) | EOP loans(1) | 90+ days past due(2) | 30–89 days past due(2) | |||||||||||||||||||||||||||||||||||||||||
In millions of dollars, except EOP loan amounts in billions | In millions of dollars, except EOP loan amounts in billions | September 30, 2021 | September 30, 2021 | June 30, 2021 | September 30, 2020 | September 30, 2021 | June 30, 2021 | September 30, 2020 | In millions of dollars, except EOP loan amounts in billions | June 30, 2022 | June 30, 2022 | March 31, 2022 | June 30, 2021 | June 30, 2022 | March 31, 2022 | June 30, 2021 | ||||||||||||||||||||||||||||||
Global Consumer Banking(4)(5) | ||||||||||||||||||||||||||||||||||||||||||||||
Personal Banking and Wealth Management(3)(4)(5) | Personal Banking and Wealth Management(3)(4)(5) | |||||||||||||||||||||||||||||||||||||||||||||
Total | Total | $ | 260.1 | $ | 1,488 | $ | 1,790 | $ | 1,976 | $ | 1,668 | $ | 1,761 | $ | 2,398 | Total | $ | 321.6 | $ | 1,383 | $ | 1,383 | $ | 1,366 | $ | 1,435 | $ | 1,397 | $ | 1,263 | ||||||||||||||||
Ratio | Ratio | 0.57 | % | 0.66 | % | 0.73 | % | 0.64 | % | 0.65 | % | 0.88 | % | Ratio | 0.52 | % | 0.54 | % | 0.55 | % | 0.54 | % | 0.55 | % | 0.51 | % | ||||||||||||||||||||
Retail banking | ||||||||||||||||||||||||||||||||||||||||||||||
U.S. Personal Banking | U.S. Personal Banking | |||||||||||||||||||||||||||||||||||||||||||||
Total | Total | $ | 116.8 | $ | 479 | $ | 560 | $ | 497 | $ | 589 | $ | 687 | $ | 786 | Total | $ | 172.8 | $ | 1,128 | $ | 1,090 | $ | 1,124 | $ | 1,201 | $ | 1,159 | $ | 1,002 | ||||||||||||||||
Ratio | Ratio | 0.41 | % | 0.45 | % | 0.40 | % | 0.51 | % | 0.55 | % | 0.63 | % | Ratio | 0.66 | % | 0.68 | % | 0.71 | % | 0.70 | % | 0.71 | % | 0.63 | % | ||||||||||||||||||||
North America | 48.8 | 221 | 236 | 211 | 250 | 268 | 378 | |||||||||||||||||||||||||||||||||||||||
Ratio | 0.46 | % | 0.48 | % | 0.40 | % | 0.52 | % | 0.55 | % | 0.72 | % | ||||||||||||||||||||||||||||||||||
Latin America | 8.7 | 117 | 127 | 105 | 122 | 134 | 136 | |||||||||||||||||||||||||||||||||||||||
Ratio | 1.34 | % | 1.40 | % | 1.14 | % | 1.40 | % | 1.47 | % | 1.48 | % | ||||||||||||||||||||||||||||||||||
Asia(6)(7) | 59.3 | 141 | 197 | 181 | 217 | 285 | 272 | |||||||||||||||||||||||||||||||||||||||
Ratio | 0.24 | % | 0.30 | % | 0.29 | % | 0.37 | % | 0.43 | % | 0.43 | % | ||||||||||||||||||||||||||||||||||
Cards | ||||||||||||||||||||||||||||||||||||||||||||||
Cards(4) | Cards(4) | |||||||||||||||||||||||||||||||||||||||||||||
Total | Total | $ | 143.3 | $ | 1,009 | $ | 1,230 | $ | 1,479 | $ | 1,079 | $ | 1,074 | $ | 1,612 | Total | 137.4 | 949 | 910 | 920 | 1,009 | 987 | 770 | |||||||||||||||||||||||
Ratio | Ratio | 0.70 | % | 0.84 | % | 1.01 | % | 0.75 | % | 0.74 | % | 1.10 | % | Ratio | 0.69 | % | 0.70 | % | 0.74 | % | 0.73 | % | 0.76 | % | 0.62 | % | ||||||||||||||||||||
North America—Citi-branded | 82.8 | 362 | 457 | 574 | 375 | 355 | 624 | |||||||||||||||||||||||||||||||||||||||
Branded cards | Branded cards | 91.6 | 420 | 404 | 457 | 428 | 425 | 355 | ||||||||||||||||||||||||||||||||||||||
Ratio | Ratio | 0.44 | % | 0.56 | % | 0.71 | % | 0.45 | % | 0.43 | % | 0.77 | % | Ratio | 0.46 | % | 0.47 | % | 0.56 | % | 0.47 | % | 0.49 | % | 0.43 | % | ||||||||||||||||||||
North America—Citi retail services | 42.7 | 421 | 463 | 557 | 471 | 415 | 610 | |||||||||||||||||||||||||||||||||||||||
Retail services | Retail services | 45.8 | 529 | 506 | 463 | 581 | 562 | 415 | ||||||||||||||||||||||||||||||||||||||
Ratio | Ratio | 0.99 | % | 1.08 | % | 1.25 | % | 1.10 | % | 0.97 | % | 1.37 | % | Ratio | 1.16 | % | 1.15 | % | 1.08 | % | 1.27 | % | 1.27 | % | 0.97 | % | ||||||||||||||||||||
Latin America | 4.3 | 81 | 122 | 106 | 68 | 82 | 89 | |||||||||||||||||||||||||||||||||||||||
Retail banking(3) | Retail banking(3) | 35.4 | 179 | 180 | 204 | 192 | 172 | 232 | ||||||||||||||||||||||||||||||||||||||
Ratio | Ratio | 1.88 | % | 2.77 | % | 2.47 | % | 1.58 | % | 1.86 | % | 2.07 | % | Ratio | 0.52 | % | 0.56 | % | 0.61 | % | 0.55 | % | 0.53 | % | 0.69 | % | ||||||||||||||||||||
Asia(6)(7) | 13.5 | 145 | 188 | 242 | 165 | 222 | 289 | |||||||||||||||||||||||||||||||||||||||
Global Wealth delinquency-managed loans(5) | Global Wealth delinquency-managed loans(5) | $ | 94.0 | $ | 255 | $ | 293 | $ | 242 | $ | 234 | $ | 238 | $ | 261 | |||||||||||||||||||||||||||||||
Ratio | Ratio | 1.07 | % | 1.15 | % | 1.44 | % | 1.22 | % | 1.35 | % | 1.72 | % | Ratio | 0.27 | % | 0.32 | % | 0.27 | % | 0.25 | % | 0.26 | % | 0.29 | % | ||||||||||||||||||||
Corporate/Other—Consumer(8) | ||||||||||||||||||||||||||||||||||||||||||||||
Global Wealth classifiably managed loans(6) | Global Wealth classifiably managed loans(6) | $ | 54.8 | N/A | N/A | N/A | N/A | |||||||||||||||||||||||||||||||||||||||
Legacy Franchises | Legacy Franchises | |||||||||||||||||||||||||||||||||||||||||||||
Total | Total | $ | 4.2 | $ | 221 | $ | 259 | $ | 278 | $ | 99 | $ | 111 | $ | 198 | Total | $ | 34.0 | $ | 393 | $ | 432 | $ | 857 | $ | 293 | $ | 316 | $ | 793 | ||||||||||||||||
Ratio | Ratio | 5.67 | % | 5.51 | % | 3.86 | % | 2.54 | % | 2.36 | % | 2.75 | % | Ratio | 1.16 | % | 1.19 | % | 1.20 | % | 0.87 | % | 0.87 | % | 1.11 | % | ||||||||||||||||||||
Total Citigroup | $ | 264.3 | $ | 1,709 | $ | 2,049 | $ | 2,254 | $ | 1,767 | $ | 1,872 | $ | 2,596 | ||||||||||||||||||||||||||||||||
Asia Consumer(7)(8) | Asia Consumer(7)(8) | 17.3 | 51 | 54 | 349 | 70 | 62 | 466 | ||||||||||||||||||||||||||||||||||||||
Ratio | Ratio | 0.65 | % | 0.75 | % | 0.81 | % | 0.67 | % | 0.68 | % | 0.93 | % | Ratio | 0.29 | % | 0.28 | % | 0.65 | % | 0.40 | % | 0.32 | % | 0.87 | % | ||||||||||||||||||||
Mexico Consumer | Mexico Consumer | 13.5 | 174 | 180 | 249 | 159 | 177 | 216 | ||||||||||||||||||||||||||||||||||||||
Ratio | Ratio | 1.29 | % | 1.32 | % | 1.84 | % | 1.18 | % | 1.30 | % | 1.60 | % | |||||||||||||||||||||||||||||||||
Legacy Holdings Assets (consumer)(9) | Legacy Holdings Assets (consumer)(9) | 3.2 | 168 | 198 | 259 | 64 | 77 | 111 | ||||||||||||||||||||||||||||||||||||||
Ratio | Ratio | 5.60 | % | 6.00 | % | 5.51 | % | 2.13 | % | 2.33 | % | 2.36 | % | |||||||||||||||||||||||||||||||||
Total Citigroup consumer | Total Citigroup consumer | $ | 355.6 | $ | 1,776 | $ | 1,815 | $ | 2,223 | $ | 1,728 | $ | 1,713 | $ | 2,056 | |||||||||||||||||||||||||||||||
Ratio | Ratio | 0.59 | % | 0.63 | % | 0.70 | % | 0.58 | % | 0.59 | % | 0.64 | % |
June 30, 2022 | March 31, 2022 | December 31, 2021 | ||||||||||||||||||||||||||||||||||||
In billions of dollars | Due within 1 year | Greater than 1 year but within 5 years | Greater than 5 years | Total exposure | Due within 1 year | Greater than 1 year but within 5 years | Greater than 5 years | Total exposure | Due within 1 year | Greater than 1 year but within 5 years | Greater than 5 years | Total exposure | ||||||||||||||||||||||||||
Direct outstandings (on-balance sheet)(1) | $ | 158 | $ | 117 | $ | 21 | $ | 296 | $ | 164 | $ | 117 | $ | 21 | $ | 302 | $ | 145 | $ | 119 | $ | 20 | $ | 284 | ||||||||||||||
Unfunded lending commitments (off-balance sheet)(2) | 141 | 264 | 9 | 414 | 148 | 268 | 10 | 426 | 147 | 269 | 13 | 429 | ||||||||||||||||||||||||||
Total exposure | $ | 299 | $ | 381 | $ | 30 | $ | 710 | $ | 312 | $ | 385 | $ | 31 | $ | 728 | $ | 292 | $ | 388 | $ | 33 | $ | 713 |
June 30, 2022 | March 31, 2022 | December 31, 2021 | |||||||||
North America | 56 | % | 56 | % | 56 | % | |||||
EMEA | 25 | 25 | 25 | ||||||||
Asia | 12 | 13 | 13 | ||||||||
Latin America | 7 | 6 | 6 | ||||||||
Total | 100 | % | 100 | % | 100 | % |
Total exposure | |||||||||||
June 30, 2022 | March 31, 2022 | December 31, 2021 | |||||||||
AAA/AA/A | 50 | % | 49 | % | 48 | % | |||||
BBB | 33 | 33 | 34 | ||||||||
BB/B | 15 | 16 | 16 | ||||||||
CCC or below | 2 | 2 | 2 | ||||||||
Total | 100 | % | 100 | % | 100 | % |
Total exposure | |||||||||||
June 30, 2022 | March 31, 2022 | December 31, 2021 | |||||||||
Transportation and industrials | 20 | % | 20 | % | 20 | % | |||||
Technology, media and telecom | 12 | 12 | 12 | ||||||||
Consumer retail | 11 | 11 | 11 | ||||||||
Real estate | 10 | 9 | 10 | ||||||||
Power, chemicals, metals and mining | 9 | 9 | 9 | ||||||||
Banks and finance companies | 9 | 9 | 8 | ||||||||
Asset managers and funds | 7 | 8 | 8 | ||||||||
Energy and commodities | 7 | 7 | 7 | ||||||||
Health | 5 | 5 | 5 | ||||||||
Insurance | 4 | 4 | 4 | ||||||||
Public sector | 3 | 3 | 3 | ||||||||
Financial markets infrastructure | 2 | 2 | 2 | ||||||||
Securities firms | — | — | — | ||||||||
Other industries | 1 | 1 | 1 | ||||||||
Total | 100 | % | 100 | % | 100 | % |
Non-investment grade | Selected metrics | ||||||||||||||||||||||||||||||||||
In millions of dollars | Total credit exposure | Funded(1) | Unfunded(1) | Investment grade | Non-criticized | Criticized performing | Criticized non-performing(2) | 30 days or more past due and accruing | Net credit losses (recoveries) | Credit derivative hedges(3) | |||||||||||||||||||||||||
Transportation and industrials | $ | 138,776 | $ | 53,641 | $ | 85,135 | $ | 107,569 | $ | 19,402 | $ | 11,304 | $ | 501 | $ | 254 | $ | (17) | $ | (8,281) | |||||||||||||||
Autos(4) | 46,698 | 18,516 | 28,182 | 39,064 | 5,195 | 2,319 | 120 | 63 | — | (2,976) | |||||||||||||||||||||||||
Transportation | 25,413 | 11,394 | 14,019 | 18,245 | 2,701 | 4,293 | 174 | 21 | (23) | (1,293) | |||||||||||||||||||||||||
Industrials | 66,665 | 23,731 | 42,934 | 50,260 | 11,506 | 4,692 | 207 | 170 | 6 | (4,012) | |||||||||||||||||||||||||
Technology, media and telecom | 85,235 | 31,428 | 53,807 | 66,879 | 14,677 | 3,380 | 299 | 174 | 2 | (5,942) | |||||||||||||||||||||||||
Consumer retail | 78,690 | 34,924 | 43,766 | 61,970 | 12,749 | 3,335 | 636 | 253 | 10 | (4,833) | |||||||||||||||||||||||||
Real estate | 70,343 | 47,001 | 23,342 | 60,352 | 6,520 | 3,469 | 2 | 68 | 3 | (670) | |||||||||||||||||||||||||
Power, chemicals, metals and mining | 63,355 | 19,886 | 43,469 | 49,982 | 11,889 | 1,226 | 258 | 243 | 9 | (4,842) | |||||||||||||||||||||||||
Power | 24,427 | 4,975 | 19,452 | 19,951 | 4,024 | 342 | 110 | 9 | — | (2,227) | |||||||||||||||||||||||||
Chemicals | 24,992 | 8,624 | 16,368 | 20,717 | 3,697 | 469 | 109 | 71 | 9 | (2,006) | |||||||||||||||||||||||||
Metals and mining | 13,936 | 6,287 | 7,649 | 9,314 | 4,168 | 415 | 39 | 163 | — | (609) | |||||||||||||||||||||||||
Banks and finance companies | 64,180 | 39,794 | 24,386 | 53,433 | 6,704 | 3,999 | 44 | 118 | 14 | (937) | |||||||||||||||||||||||||
Asset managers and funds | 47,022 | 21,154 | 25,868 | 45,669 | 1,242 | 107 | 4 | 392 | — | (866) | |||||||||||||||||||||||||
Energy and commodities(5) | 52,574 | 16,822 | 35,752 | 43,821 | 6,577 | 1,962 | 214 | 132 | 1 | (3,532) | |||||||||||||||||||||||||
Health | 33,619 | 9,161 | 24,458 | 28,287 | 4,585 | 736 | 11 | 121 | (1) | (2,485) | |||||||||||||||||||||||||
Insurance | 29,489 | 3,519 | 25,970 | 28,558 | 928 | 3 | — | 28 | — | (2,658) | |||||||||||||||||||||||||
Public sector | 25,428 | 14,668 | 10,760 | 22,040 | 1,462 | 1,716 | 210 | 46 | — | (1,444) | |||||||||||||||||||||||||
Financial markets infrastructure | 13,472 | 124 | 13,348 | 13,450 | 22 | — | — | 1 | — | (19) | |||||||||||||||||||||||||
Securities firms | 1,408 | 701 | 707 | 330 | 906 | 170 | 2 | 9 | — | (3) | |||||||||||||||||||||||||
Other industries | 6,237 | 3,148 | 3,089 | 3,834 | 1,998 | 340 | 65 | 50 | 2 | (335) | |||||||||||||||||||||||||
Total | $ | 709,828 | $ | 295,971 | $ | 413,857 | $ | 586,174 | $ | 89,661 | $ | 31,747 | $ | 2,246 | $ | 1,889 | $ | 23 | $ | (36,847) |
Non-investment grade | Selected metrics | ||||||||||||||||||||||||||||||||||
In millions of dollars | Total credit exposure | Funded(1) | Unfunded(1) | Investment grade | Non-criticized | Criticized performing | Criticized non-performing(2) | 30 days or more past due and accruing | Net credit losses (recoveries) | Credit derivative hedges(3) | |||||||||||||||||||||||||
Transportation and industrials | $ | 143,445 | $ | 51,502 | $ | 91,943 | $ | 110,047 | $ | 19,051 | $ | 13,196 | $ | 1,151 | $ | 384 | $ | 127 | $ | (8,791) | |||||||||||||||
Autos(4) | 48,210 | 18,662 | 29,548 | 39,824 | 5,365 | 2,906 | 115 | 49 | 2 | (3,228) | |||||||||||||||||||||||||
Transportation | 26,897 | 12,085 | 14,812 | 19,233 | 2,344 | 4,447 | 873 | 105 | 104 | (1,334) | |||||||||||||||||||||||||
Industrials | 68,338 | 20,755 | 47,583 | 50,990 | 11,342 | 5,843 | 163 | 230 | 21 | (4,229) | |||||||||||||||||||||||||
Technology, media and telecom | 84,333 | 28,542 | 55,791 | 64,676 | 15,873 | 3,587 | 197 | 156 | 11 | (6,875) | |||||||||||||||||||||||||
Consumer retail | 78,994 | 32,894 | 46,100 | 60,686 | 13,590 | 4,311 | 407 | 224 | 100 | (5,115) | |||||||||||||||||||||||||
Real estate | 69,808 | 46,220 | 23,588 | 58,089 | 6,761 | 4,923 | 35 | 116 | 50 | (798) | |||||||||||||||||||||||||
Power, chemicals, metals and mining | 65,641 | 20,224 | 45,417 | 53,575 | 10,708 | 1,241 | 117 | 292 | 22 | (5,808) | |||||||||||||||||||||||||
Power | 26,199 | 5,610 | 20,589 | 22,860 | 2,832 | 420 | 87 | 100 | 17 | (3,032) | |||||||||||||||||||||||||
Chemicals | 25,550 | 8,525 | 17,025 | 20,788 | 4,224 | 528 | 10 | 88 | 6 | (2,141) | |||||||||||||||||||||||||
Metals and mining | 13,892 | 6,089 | 7,803 | 9,927 | 3,652 | 293 | 20 | 104 | (1) | (635) | |||||||||||||||||||||||||
Banks and finance companies | 58,252 | 36,804 | 21,448 | 49,465 | 4,892 | 3,890 | 5 | 150 | (5) | (680) | |||||||||||||||||||||||||
Asset managers and funds | 55,517 | 26,879 | 28,638 | 54,119 | 1,019 | 377 | 2 | 211 | — | (869) | |||||||||||||||||||||||||
Energy and commodities(5) | 48,973 | 13,485 | 35,488 | 38,972 | 7,517 | 2,220 | 264 | 224 | 78 | (3,679) | |||||||||||||||||||||||||
Health | 33,393 | 8,826 | 24,567 | 27,600 | 4,702 | 942 | 149 | 95 | — | (2,465) | |||||||||||||||||||||||||
Insurance | 28,495 | 3,162 | 25,333 | 27,447 | 987 | 61 | — | 2 | 1 | (2,711) | |||||||||||||||||||||||||
Public sector | 23,842 | 12,464 | 11,378 | 21,035 | 1,527 | 1,275 | 5 | 37 | (3) | (1,282) | |||||||||||||||||||||||||
Financial markets infrastructure | 14,341 | 109 | 14,232 | 14,323 | 18 | — | — | — | — | (22) | |||||||||||||||||||||||||
Securities firms | 1,472 | 613 | 859 | 605 | 816 | 51 | — | 4 | — | (5) | |||||||||||||||||||||||||
Other industries | 6,591 | 2,803 | 3,788 | 4,151 | 1,890 | 489 | 61 | — | 5 | (169) | |||||||||||||||||||||||||
Total | $ | 713,097 | $ | 284,527 | $ | 428,570 | $ | 584,790 | $ | 89,351 | $ | 36,563 | $ | 2,393 | $ | 1,895 | $ | 386 | $ | (39,269) |
June 30, 2022 | March 31, 2022 | December 31, 2021 | |||||||||
AAA/AA/A | 37 | % | 38 | % | 35 | % | |||||
BBB | 44 | 46 | 49 | ||||||||
BB/B | 14 | 13 | 13 | ||||||||
CCC or below | 5 | 3 | 3 | ||||||||
Total | 100 | % | 100 | % | 100 | % |
In billions of dollars | 2Q21 | 3Q21(2) | 4Q21(2) | 1Q22(2) | 2Q22(2) | |||||||||||||||
Personal Banking and Wealth Management | ||||||||||||||||||||
U.S. Personal Banking | ||||||||||||||||||||
Cards | ||||||||||||||||||||
Branded cards | $ | 82.1 | $ | 82.8 | $ | 87.9 | $ | 85.9 | $ | 91.6 | ||||||||||
Retail services | 42.7 | 42.7 | 46.0 | 44.1 | 45.8 | |||||||||||||||
Retail banking | ||||||||||||||||||||
Mortgages(5) | 31.0 | 30.5 | 30.2 | 30.5 | 32.3 | |||||||||||||||
Personal, small business and other | 3.3 | 2.9 | 2.8 | 2.8 | 3.1 | |||||||||||||||
Global Wealth(3)(4) | ||||||||||||||||||||
Cards | 3.7 | 3.7 | 4.0 | 3.8 | 4.0 | |||||||||||||||
Mortgages(5) | 72.8 | 73.9 | 74.6 | 75.4 | 77.8 | |||||||||||||||
Personal, small business and other(6) | 73.2 | 72.7 | 72.7 | 71.0 | 67.0 | |||||||||||||||
Total | $ | 308.8 | $ | 309.2 | $ | 318.2 | $ | 313.5 | $ | 321.6 | ||||||||||
Legacy Franchises | ||||||||||||||||||||
Asia Consumer(7) | $ | 53.5 | $ | 42.9 | $ | 41.1 | $ | 19.5 | $ | 17.3 | ||||||||||
Mexico Consumer (excludes Mexico SBMM) | 13.5 | 13.0 | 13.3 | 13.6 | 13.5 | |||||||||||||||
Legacy Holdings Assets(8) | 5.0 | 4.2 | 3.9 | 3.7 | 3.2 | |||||||||||||||
Total | $ | 72.0 | $ | 60.1 | $ | 58.3 | $ | 36.8 | $ | 34.0 | ||||||||||
Total consumer loans | $ | 380.8 | $ | 369.3 | $ | 376.5 | $ | 350.3 | $ | 355.6 |
Personal Banking and Wealth Management |
Branded Cards |
Retail Services |
Retail Banking |
Global Wealth |
Asia(1) Consumer |
Mexico Consumer |
FICO distribution(1) | June 30, 2022 | March 31, 2022 | June 30, 2021 | ||||||||
> 760 | 49 | % | 48 | % | 49 | % | |||||
680–760 | 38 | 39 | 39 | ||||||||
< 680 | 13 | 13 | 12 | ||||||||
Total | 100 | % | 100 | % | 100 | % |
FICO distribution(1) | June 30, 2022 | March 31, 2022 | June 30, 2021 | ||||||||
> 760 | 28 | % | 27 | % | 28 | % | |||||
680–760 | 43 | 44 | 45 | ||||||||
< 680 | 29 | 29 | 27 | ||||||||
Total | 100 | % | 100 | % | 100 | % |
Average loans(1) | Net credit losses(2) | EOP loans(1) | 90+ days past due(2) | 30–89 days past due(2) | |||||||||||||||||||||||||||||||||
In millions of dollars, except average loan amounts in billions | 3Q21 | 2Q21 | 3Q20 | ||||||||||||||||||||||||||||||||||
Global Consumer Banking | |||||||||||||||||||||||||||||||||||||
In millions of dollars, except EOP loan amounts in billions | In millions of dollars, except EOP loan amounts in billions | June 30, 2022 | June 30, 2022 | March 31, 2022 | June 30, 2021 | June 30, 2022 | March 31, 2022 | June 30, 2021 | |||||||||||||||||||||||||||||
Personal Banking and Wealth Management(3)(4)(5) | Personal Banking and Wealth Management(3)(4)(5) | ||||||||||||||||||||||||||||||||||||
Total | Total | $ | 262.9 | $ | 944 | $ | 1,253 | $ | 1,598 | Total | $ | 321.6 | $ | 1,383 | $ | 1,383 | $ | 1,366 | $ | 1,435 | $ | 1,397 | $ | 1,263 | |||||||||||||
Ratio | Ratio | 1.42 | % | 1.87 | % | 2.33 | % | Ratio | 0.52 | % | 0.54 | % | 0.55 | % | 0.54 | % | 0.55 | % | 0.51 | % | |||||||||||||||||
Retail banking | |||||||||||||||||||||||||||||||||||||
U.S. Personal Banking | U.S. Personal Banking | ||||||||||||||||||||||||||||||||||||
Total | Total | $ | 120.0 | $ | 161 | $ | 193 | $ | 190 | Total | $ | 172.8 | $ | 1,128 | $ | 1,090 | $ | 1,124 | $ | 1,201 | $ | 1,159 | $ | 1,002 | |||||||||||||
Ratio | Ratio | 0.53 | % | 0.61 | % | 0.60 | % | Ratio | 0.66 | % | 0.68 | % | 0.71 | % | 0.70 | % | 0.71 | % | 0.63 | % | |||||||||||||||||
North America | 49.5 | 22 | 24 | 31 | |||||||||||||||||||||||||||||||||
Ratio | 0.18 | % | 0.19 | % | 0.23 | % | |||||||||||||||||||||||||||||||
Latin America | 8.9 | 77 | 99 | 90 | |||||||||||||||||||||||||||||||||
Ratio | 3.43 | % | 4.32 | % | 3.85 | % | |||||||||||||||||||||||||||||||
Asia(3)(4) | 61.6 | 62 | 70 | 69 | |||||||||||||||||||||||||||||||||
Ratio | 0.40 | % | 0.42 | % | 0.44 | % | |||||||||||||||||||||||||||||||
Cards | |||||||||||||||||||||||||||||||||||||
Cards(4) | Cards(4) | ||||||||||||||||||||||||||||||||||||
Total | Total | $ | 142.9 | $ | 783 | $ | 1,060 | $ | 1,408 | Total | 137.4 | 949 | 910 | 920 | 1,009 | 987 | 770 | ||||||||||||||||||||
Ratio | Ratio | 2.17 | % | 2.98 | % | 3.82 | % | Ratio | 0.69 | % | 0.70 | % | 0.74 | % | 0.73 | % | 0.76 | % | 0.62 | % | |||||||||||||||||
North America—Citi-branded | 81.9 | 357 | 467 | 647 | |||||||||||||||||||||||||||||||||
Branded cards | Branded cards | 91.6 | 420 | 404 | 457 | 428 | 425 | 355 | |||||||||||||||||||||||||||||
Ratio | Ratio | 1.73 | % | 2.36 | % | 3.17 | % | Ratio | 0.46 | % | 0.47 | % | 0.56 | % | 0.47 | % | 0.49 | % | 0.43 | % | |||||||||||||||||
North America—Citi retail services | 42.4 | 238 | 326 | 504 | |||||||||||||||||||||||||||||||||
Retail services | Retail services | 45.8 | 529 | 506 | 463 | 581 | 562 | 415 | |||||||||||||||||||||||||||||
Ratio | Ratio | 2.23 | % | 3.09 | % | 4.51 | % | Ratio | 1.16 | % | 1.15 | % | 1.08 | % | 1.27 | % | 1.27 | % | 0.97 | % | |||||||||||||||||
Latin America | 4.3 | 98 | 151 | 138 | |||||||||||||||||||||||||||||||||
Retail banking(3) | Retail banking(3) | 35.4 | 179 | 180 | 204 | 192 | 172 | 232 | |||||||||||||||||||||||||||||
Ratio | Ratio | 9.04 | % | 14.09 | % | 12.77 | % | Ratio | 0.52 | % | 0.56 | % | 0.61 | % | 0.55 | % | 0.53 | % | 0.69 | % | |||||||||||||||||
Asia(3)(4) | 14.3 | 90 | 116 | 119 | |||||||||||||||||||||||||||||||||
Global Wealth delinquency-managed loans(5) | Global Wealth delinquency-managed loans(5) | $ | 94.0 | $ | 255 | $ | 293 | $ | 242 | $ | 234 | $ | 238 | $ | 261 | ||||||||||||||||||||||
Ratio | Ratio | 2.50 | % | 2.80 | % | 2.82 | % | Ratio | 0.27 | % | 0.32 | % | 0.27 | % | 0.25 | % | 0.26 | % | 0.29 | % | |||||||||||||||||
Corporate/Other—Consumer | |||||||||||||||||||||||||||||||||||||
Global Wealth classifiably managed loans(6) | Global Wealth classifiably managed loans(6) | $ | 54.8 | N/A | N/A | N/A | N/A | ||||||||||||||||||||||||||||||
Legacy Franchises | Legacy Franchises | ||||||||||||||||||||||||||||||||||||
Total | Total | $ | 4.7 | $ | (22) | $ | (22) | $ | (4) | Total | $ | 34.0 | $ | 393 | $ | 432 | $ | 857 | $ | 293 | $ | 316 | $ | 793 | |||||||||||||
Ratio | Ratio | (1.86) | % | (1.52) | % | (0.19) | % | Ratio | 1.16 | % | 1.19 | % | 1.20 | % | 0.87 | % | 0.87 | % | 1.11 | % | |||||||||||||||||
Total Citigroup | $ | 267.6 | $ | 922 | $ | 1,231 | $ | 1,594 | |||||||||||||||||||||||||||||
Asia Consumer(7)(8) | Asia Consumer(7)(8) | 17.3 | 51 | 54 | 349 | 70 | 62 | 466 | |||||||||||||||||||||||||||||
Ratio | Ratio | 1.37 | % | 1.80 | % | 2.26 | % | Ratio | 0.29 | % | 0.28 | % | 0.65 | % | 0.40 | % | 0.32 | % | 0.87 | % | |||||||||||||||||
Mexico Consumer | Mexico Consumer | 13.5 | 174 | 180 | 249 | 159 | 177 | 216 | |||||||||||||||||||||||||||||
Ratio | Ratio | 1.29 | % | 1.32 | % | 1.84 | % | 1.18 | % | 1.30 | % | 1.60 | % | ||||||||||||||||||||||||
Legacy Holdings Assets (consumer)(9) | Legacy Holdings Assets (consumer)(9) | 3.2 | 168 | 198 | 259 | 64 | 77 | 111 | |||||||||||||||||||||||||||||
Ratio | Ratio | 5.60 | % | 6.00 | % | 5.51 | % | 2.13 | % | 2.33 | % | 2.36 | % | ||||||||||||||||||||||||
Total Citigroup consumer | Total Citigroup consumer | $ | 355.6 | $ | 1,776 | $ | 1,815 | $ | 2,223 | $ | 1,728 | $ | 1,713 | $ | 2,056 | ||||||||||||||||||||||
Ratio | Ratio | 0.59 | % | 0.63 | % | 0.70 | % | 0.58 | % | 0.59 | % | 0.64 | % |
September 30, 2021 | June 30, 2021 | December 31, 2020 | June 30, 2022 | March 31, 2022 | December 31, 2021 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
In billions of dollars | In billions of dollars | Due within 1 year | Greater than 1 year but within 5 years | Greater than 5 years | Total exposure | Due within 1 year | Greater than 1 year but within 5 years | Greater than 5 years | Total exposure | Due within 1 year | Greater than 1 year but within 5 years | Greater than 5 years | Total exposure | In billions of dollars | Due within 1 year | Greater than 1 year but within 5 years | Greater than 5 years | Total exposure | Due within 1 year | Greater than 1 year but within 5 years | Greater than 5 years | Total exposure | Due within 1 year | Greater than 1 year but within 5 years | Greater than 5 years | Total exposure | ||||||||||||||||||||||||||||||||||||||||||||||||||
Direct outstandings (on-balance sheet)(1) | Direct outstandings (on-balance sheet)(1) | $ | 195 | $ | 136 | $ | 21 | $ | 352 | $ | 192 | $ | 141 | $ | 22 | $ | 355 | $ | 177 | $ | 142 | $ | 25 | $ | 344 | Direct outstandings (on-balance sheet)(1) | $ | 158 | $ | 117 | $ | 21 | $ | 296 | $ | 164 | $ | 117 | $ | 21 | $ | 302 | $ | 145 | $ | 119 | $ | 20 | $ | 284 | ||||||||||||||||||||||||||
Unfunded lending commitments (off-balance sheet)(2) | Unfunded lending commitments (off-balance sheet)(2) | 164 | 286 | 10 | 460 | 166 | 281 | 11 | 458 | 158 | 272 | 11 | 441 | Unfunded lending commitments (off-balance sheet)(2) | 141 | 264 | 9 | 414 | 148 | 268 | 10 | 426 | 147 | 269 | 13 | 429 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Total exposure | Total exposure | $ | 359 | $ | 422 | $ | 31 | $ | 812 | $ | 358 | $ | 422 | $ | 33 | $ | 813 | $ | 335 | $ | 414 | $ | 36 | $ | 785 | Total exposure | $ | 299 | $ | 381 | $ | 30 | $ | 710 | $ | 312 | $ | 385 | $ | 31 | $ | 728 | $ | 292 | $ | 388 | $ | 33 | $ | 713 |
September 30, 2021 | June 30, 2021 | December 31, 2020 | |||||||||
North America | 57 | % | 57 | % | 56 | % | |||||
EMEA | 25 | 25 | 25 | ||||||||
Asia | 13 | 13 | 13 | ||||||||
Latin America | 5 | 5 | 6 | ||||||||
Total | 100 | % | 100 | % | 100 | % |
June 30, 2022 | March 31, 2022 | December 31, 2021 | |||||||||
North America | 56 | % | 56 | % | 56 | % | |||||
EMEA | 25 | 25 | 25 | ||||||||
Asia | 12 | 13 | 13 | ||||||||
Latin America | 7 | 6 | 6 | ||||||||
Total | 100 | % | 100 | % | 100 | % |
Total exposure | Total exposure | |||||||||||||||||||||
September 30, 2021 | June 30, 2021 | December 31, 2020 | June 30, 2022 | March 31, 2022 | December 31, 2021 | |||||||||||||||||
AAA/AA/A | AAA/AA/A | 49 | % | 49 | % | 49 | % | AAA/AA/A | 50 | % | 49 | % | 48 | % | ||||||||
BBB | BBB | 32 | 32 | 31 | BBB | 33 | 33 | 34 | ||||||||||||||
BB/B | BB/B | 16 | 16 | 17 | BB/B | 15 | 16 | 16 | ||||||||||||||
CCC or below | CCC or below | 3 | 3 | 3 | CCC or below | 2 | 2 | 2 | ||||||||||||||
Total | Total | 100 | % | 100 | % | 100 | % | Total | 100 | % | 100 | % | 100 | % |
Total exposure | |||||||||||
September 30, 2021 | June 30, 2021 | December 31, 2020 | |||||||||
Transportation and industrials | 19 | % | 18 | % | 19 | % | |||||
Private bank | 14 | 14 | 14 | ||||||||
Consumer retail | 10 | 10 | 10 | ||||||||
Technology, media and telecom | 10 | 11 | 11 | ||||||||
Real estate | 9 | 9 | 8 | ||||||||
Power, chemicals, metals and mining | 8 | 8 | 8 | ||||||||
Banks and finance companies | 7 | 7 | 7 | ||||||||
Energy and commodities | 6 | 6 | 6 | ||||||||
Health | 5 | 5 | 5 | ||||||||
Public sector | 3 | 3 | 3 | ||||||||
Insurance | 3 | 3 | 3 | ||||||||
Asset managers and funds | 3 | 3 | 3 | ||||||||
Financial markets infrastructure | 2 | 2 | 2 | ||||||||
Other industries | 1 | 1 | 1 | ||||||||
Total | 100 | % | 100 | % | 100 | % |
Total exposure | |||||||||||
June 30, 2022 | March 31, 2022 | December 31, 2021 | |||||||||
Transportation and industrials | 20 | % | 20 | % | 20 | % | |||||
Technology, media and telecom | 12 | 12 | 12 | ||||||||
Consumer retail | 11 | 11 | 11 | ||||||||
Real estate | 10 | 9 | 10 | ||||||||
Power, chemicals, metals and mining | 9 | 9 | 9 | ||||||||
Banks and finance companies | 9 | 9 | 8 | ||||||||
Asset managers and funds | 7 | 8 | 8 | ||||||||
Energy and commodities | 7 | 7 | 7 | ||||||||
Health | 5 | 5 | 5 | ||||||||
Insurance | 4 | 4 | 4 | ||||||||
Public sector | 3 | 3 | 3 | ||||||||
Financial markets infrastructure | 2 | 2 | 2 | ||||||||
Securities firms | — | — | — | ||||||||
Other industries | 1 | 1 | 1 | ||||||||
Total | 100 | % | 100 | % | 100 | % |
Non-investment grade | Selected metrics | ||||||||||||||||||||||||||||||||||
In millions of dollars | Total credit exposure | Funded(1) | Unfunded(1) | Investment grade | Non-criticized | Criticized performing | Criticized non-performing(2) | 30 days or more past due and accruing(3) | Net charge-offs (recoveries)(4) | Credit derivative hedges(5) | |||||||||||||||||||||||||
Transportation and industrials | $ | 155,722 | $ | 55,345 | $ | 100,377 | $ | 118,945 | $ | 20,622 | $ | 14,798 | $ | 1,357 | $ | 192 | $ | 84 | $ | (8,706) | |||||||||||||||
Autos(6) | 51,520 | 21,050 | 30,470 | 42,920 | 4,699 | 3,783 | 118 | 41 | 1 | (3,167) | |||||||||||||||||||||||||
Transportation | 31,507 | 12,513 | 18,994 | 22,353 | 3,431 | 4,648 | 1,075 | 36 | 63 | (1,322) | |||||||||||||||||||||||||
Industrials | 72,695 | 21,782 | 50,913 | 53,672 | 12,492 | 6,367 | 164 | 115 | 20 | (4,217) | |||||||||||||||||||||||||
Private bank | 113,674 | 78,185 | 35,489 | 109,139 | 2,645 | 1,798 | 92 | 717 | 11 | (1,080) | |||||||||||||||||||||||||
Consumer retail | 81,309 | 35,716 | 45,593 | 63,393 | 12,511 | 4,961 | 444 | 138 | 78 | (5,031) | |||||||||||||||||||||||||
Technology, media and telecom | 83,716 | 31,192 | 52,524 | 64,569 | 15,744 | 3,107 | 296 | 141 | 11 | (6,691) | |||||||||||||||||||||||||
Real estate | 70,438 | 46,576 | 23,862 | 57,454 | 8,157 | 4,786 | 41 | 69 | 13 | (662) | |||||||||||||||||||||||||
Power, chemicals, metals and mining | 63,845 | 20,059 | 43,786 | 50,216 | 11,293 | 2,188 | 148 | 160 | 34 | (5,508) | |||||||||||||||||||||||||
Power | 25,950 | 5,326 | 20,624 | 22,541 | 2,774 | 563 | 72 | 45 | 31 | (2,823) | |||||||||||||||||||||||||
Chemicals | 23,171 | 8,247 | 14,924 | 17,604 | 4,496 | 1,033 | 38 | 48 | 4 | (2,049) | |||||||||||||||||||||||||
Metals and mining | 14,724 | 6,486 | 8,238 | 10,071 | 4,023 | 592 | 38 | 67 | (1) | (636) | |||||||||||||||||||||||||
Banks and finance companies | 58,478 | 34,894 | 23,584 | 48,056 | 5,934 | 4,459 | 29 | 82 | (1) | (698) | |||||||||||||||||||||||||
Energy and commodities(7) | 49,108 | 14,455 | 34,653 | 35,577 | 8,634 | 4,388 | 509 | 148 | 80 | (3,471) | |||||||||||||||||||||||||
Health | 36,012 | 7,943 | 28,069 | 29,127 | 5,567 | 1,162 | 156 | 66 | — | (2,211) | |||||||||||||||||||||||||
Public sector | 26,256 | 14,665 | 11,591 | 21,471 | 2,026 | 2,753 | 6 | 27 | (3) | (1,277) | |||||||||||||||||||||||||
Insurance | 27,189 | 2,482 | 24,707 | 26,251 | 876 | 62 | — | 11 | 1 | (2,560) | |||||||||||||||||||||||||
Asset managers and funds | 22,105 | 6,519 | 15,586 | 20,919 | 1,085 | 101 | — | 30 | — | (97) | |||||||||||||||||||||||||
Financial markets infrastructure | 14,294 | 236 | 14,058 | 14,265 | 28 | — | 1 | — | — | (13) | |||||||||||||||||||||||||
Securities firms | 3,021 | 701 | 2,320 | 585 | 2,389 | 39 | 8 | — | — | (1) | |||||||||||||||||||||||||
Other industries | 7,242 | 2,929 | 4,313 | 3,905 | 2,783 | 447 | 107 | 64 | 5 | (104) | |||||||||||||||||||||||||
Total | $ | 812,409 | $ | 351,897 | $ | 460,512 | $ | 663,872 | $ | 100,294 | $ | 45,049 | $ | 3,194 | $ | 1,845 | $ | 313 | $ | (38,110) |
Non-investment grade | Selected metrics | ||||||||||||||||||||||||||||||||||
In millions of dollars | Total credit exposure | Funded(1) | Unfunded(1) | Investment grade | Non-criticized | Criticized performing | Criticized non-performing(2) | 30 days or more past due and accruing | Net credit losses (recoveries) | Credit derivative hedges(3) | |||||||||||||||||||||||||
Transportation and industrials | $ | 138,776 | $ | 53,641 | $ | 85,135 | $ | 107,569 | $ | 19,402 | $ | 11,304 | $ | 501 | $ | 254 | $ | (17) | $ | (8,281) | |||||||||||||||
Autos(4) | 46,698 | 18,516 | 28,182 | 39,064 | 5,195 | 2,319 | 120 | 63 | — | (2,976) | |||||||||||||||||||||||||
Transportation | 25,413 | 11,394 | 14,019 | 18,245 | 2,701 | 4,293 | 174 | 21 | (23) | (1,293) | |||||||||||||||||||||||||
Industrials | 66,665 | 23,731 | 42,934 | 50,260 | 11,506 | 4,692 | 207 | 170 | 6 | (4,012) | |||||||||||||||||||||||||
Technology, media and telecom | 85,235 | 31,428 | 53,807 | 66,879 | 14,677 | 3,380 | 299 | 174 | 2 | (5,942) | |||||||||||||||||||||||||
Consumer retail | 78,690 | 34,924 | 43,766 | 61,970 | 12,749 | 3,335 | 636 | 253 | 10 | (4,833) | |||||||||||||||||||||||||
Real estate | 70,343 | 47,001 | 23,342 | 60,352 | 6,520 | 3,469 | 2 | 68 | 3 | (670) | |||||||||||||||||||||||||
Power, chemicals, metals and mining | 63,355 | 19,886 | 43,469 | 49,982 | 11,889 | 1,226 | 258 | 243 | 9 | (4,842) | |||||||||||||||||||||||||
Power | 24,427 | 4,975 | 19,452 | 19,951 | 4,024 | 342 | 110 | 9 | — | (2,227) | |||||||||||||||||||||||||
Chemicals | 24,992 | 8,624 | 16,368 | 20,717 | 3,697 | 469 | 109 | 71 | 9 | (2,006) | |||||||||||||||||||||||||
Metals and mining | 13,936 | 6,287 | 7,649 | 9,314 | 4,168 | 415 | 39 | 163 | — | (609) | |||||||||||||||||||||||||
Banks and finance companies | 64,180 | 39,794 | 24,386 | 53,433 | 6,704 | 3,999 | 44 | 118 | 14 | (937) | |||||||||||||||||||||||||
Asset managers and funds | 47,022 | 21,154 | 25,868 | 45,669 | 1,242 | 107 | 4 | 392 | — | (866) | |||||||||||||||||||||||||
Energy and commodities(5) | 52,574 | 16,822 | 35,752 | 43,821 | 6,577 | 1,962 | 214 | 132 | 1 | (3,532) | |||||||||||||||||||||||||
Health | 33,619 | 9,161 | 24,458 | 28,287 | 4,585 | 736 | 11 | 121 | (1) | (2,485) | |||||||||||||||||||||||||
Insurance | 29,489 | 3,519 | 25,970 | 28,558 | 928 | 3 | — | 28 | — | (2,658) | |||||||||||||||||||||||||
Public sector | 25,428 | 14,668 | 10,760 | 22,040 | 1,462 | 1,716 | 210 | 46 | — | (1,444) | |||||||||||||||||||||||||
Financial markets infrastructure | 13,472 | 124 | 13,348 | 13,450 | 22 | — | — | 1 | — | (19) | |||||||||||||||||||||||||
Securities firms | 1,408 | 701 | 707 | 330 | 906 | 170 | 2 | 9 | — | (3) | |||||||||||||||||||||||||
Other industries | 6,237 | 3,148 | 3,089 | 3,834 | 1,998 | 340 | 65 | 50 | 2 | (335) | |||||||||||||||||||||||||
Total | $ | 709,828 | $ | 295,971 | $ | 413,857 | $ | 586,174 | $ | 89,661 | $ | 31,747 | $ | 2,246 | $ | 1,889 | $ | 23 | $ | (36,847) |
Non-investment grade | Selected metrics | ||||||||||||||||||||||||||||||||||
In millions of dollars | Total credit exposure | Funded(1) | Unfunded(1) | Investment grade | Non-criticized | Criticized performing | Criticized non-performing(2) | 30 days or more past due and accruing(3) | Net charge-offs (recoveries)(4) | Credit derivative hedges(5) | |||||||||||||||||||||||||
Transportation and industrials | $ | 147,218 | $ | 60,122 | $ | 87,096 | $ | 106,041 | $ | 17,452 | $ | 21,927 | $ | 1,798 | $ | 136 | $ | 239 | $ | (8,110) | |||||||||||||||
Autos(6) | 53,874 | 25,310 | 28,564 | 43,059 | 4,374 | 6,167 | 274 | 8 | 45 | (3,220) | |||||||||||||||||||||||||
Transportation | 27,693 | 14,107 | 13,586 | 16,410 | 2,993 | 6,872 | 1,418 | 17 | 144 | (1,166) | |||||||||||||||||||||||||
Industrials | 65,651 | 20,705 | 44,946 | 46,572 | 10,085 | 8,888 | 106 | 111 | 50 | (3,724) | |||||||||||||||||||||||||
Private bank | 109,397 | 75,693 | 33,704 | 104,244 | 2,395 | 2,510 | 248 | 963 | 78 | (1,080) | |||||||||||||||||||||||||
Consumer retail | 82,129 | 34,809 | 47,320 | 60,741 | 11,653 | 9,418 | 317 | 146 | 64 | (5,493) | |||||||||||||||||||||||||
Technology, media and telecom | 82,657 | 30,880 | 51,777 | 61,296 | 15,924 | 5,214 | 223 | 107 | 74 | (7,237) | |||||||||||||||||||||||||
Real estate | 65,392 | 43,285 | 22,107 | 54,413 | 5,342 | 5,453 | 184 | 334 | 18 | (642) | |||||||||||||||||||||||||
Power, chemicals, metals and mining | 63,926 | 20,810 | 43,116 | 47,923 | 11,554 | 4,257 | 192 | 59 | 70 | (5,341) | |||||||||||||||||||||||||
Power | 26,916 | 6,379 | 20,537 | 22,665 | 3,336 | 761 | 154 | 14 | 57 | (2,637) | |||||||||||||||||||||||||
Chemicals | 22,356 | 7,969 | 14,387 | 16,665 | 3,804 | 1,882 | 5 | 32 | 8 | (2,102) | |||||||||||||||||||||||||
Metals and mining | 14,654 | 6,462 | 8,192 | 8,593 | 4,414 | 1,614 | 33 | 13 | 5 | (602) | |||||||||||||||||||||||||
Banks and finance companies | 52,925 | 29,856 | 23,069 | 43,831 | 4,648 | 4,387 | 59 | 27 | 79 | (765) | |||||||||||||||||||||||||
Energy and commodities(7) | 49,524 | 15,086 | 34,438 | 34,636 | 7,345 | 6,546 | 997 | 70 | 285 | (4,199) | |||||||||||||||||||||||||
Health | 35,504 | 8,658 | 26,846 | 29,164 | 4,354 | 1,749 | 237 | 17 | 17 | (1,964) | |||||||||||||||||||||||||
Public sector | 26,887 | 13,599 | 13,288 | 22,276 | 1,887 | 2,708 | 16 | 45 | 9 | (1,089) | |||||||||||||||||||||||||
Insurance | 26,576 | 1,925 | 24,651 | 25,864 | 575 | 136 | 1 | 27 | 1 | (2,682) | |||||||||||||||||||||||||
Asset managers and funds | 19,745 | 4,491 | 15,254 | 18,528 | 1,013 | 191 | 13 | 41 | (1) | (84) | |||||||||||||||||||||||||
Financial markets infrastructure | 12,610 | 229 | 12,381 | 12,590 | 20 | — | — | — | — | (9) | |||||||||||||||||||||||||
Securities firms | 976 | 430 | 546 | 573 | 298 | 97 | 8 | — | — | (6) | |||||||||||||||||||||||||
Other industries | 9,307 | 4,545 | 4,762 | 4,980 | 2,702 | 1,442 | 183 | 10 | 43 | (138) | |||||||||||||||||||||||||
Total | $ | 784,773 | $ | 344,418 | $ | 440,355 | $ | 627,100 | $ | 87,162 | $ | 66,035 | $ | 4,476 | $ | 1,982 | $ | 976 | $ | (38,839) |
Non-investment grade | Selected metrics | ||||||||||||||||||||||||||||||||||
In millions of dollars | Total credit exposure | Funded(1) | Unfunded(1) | Investment grade | Non-criticized | Criticized performing | Criticized non-performing(2) | 30 days or more past due and accruing | Net credit losses (recoveries) | Credit derivative hedges(3) | |||||||||||||||||||||||||
Transportation and industrials | $ | 143,445 | $ | 51,502 | $ | 91,943 | $ | 110,047 | $ | 19,051 | $ | 13,196 | $ | 1,151 | $ | 384 | $ | 127 | $ | (8,791) | |||||||||||||||
Autos(4) | 48,210 | 18,662 | 29,548 | 39,824 | 5,365 | 2,906 | 115 | 49 | 2 | (3,228) | |||||||||||||||||||||||||
Transportation | 26,897 | 12,085 | 14,812 | 19,233 | 2,344 | 4,447 | 873 | 105 | 104 | (1,334) | |||||||||||||||||||||||||
Industrials | 68,338 | 20,755 | 47,583 | 50,990 | 11,342 | 5,843 | 163 | 230 | 21 | (4,229) | |||||||||||||||||||||||||
Technology, media and telecom | 84,333 | 28,542 | 55,791 | 64,676 | 15,873 | 3,587 | 197 | 156 | 11 | (6,875) | |||||||||||||||||||||||||
Consumer retail | 78,994 | 32,894 | 46,100 | 60,686 | 13,590 | 4,311 | 407 | 224 | 100 | (5,115) | |||||||||||||||||||||||||
Real estate | 69,808 | 46,220 | 23,588 | 58,089 | 6,761 | 4,923 | 35 | 116 | 50 | (798) | |||||||||||||||||||||||||
Power, chemicals, metals and mining | 65,641 | 20,224 | 45,417 | 53,575 | 10,708 | 1,241 | 117 | 292 | 22 | (5,808) | |||||||||||||||||||||||||
Power | 26,199 | 5,610 | 20,589 | 22,860 | 2,832 | 420 | 87 | 100 | 17 | (3,032) | |||||||||||||||||||||||||
Chemicals | 25,550 | 8,525 | 17,025 | 20,788 | 4,224 | 528 | 10 | 88 | 6 | (2,141) | |||||||||||||||||||||||||
Metals and mining | 13,892 | 6,089 | 7,803 | 9,927 | 3,652 | 293 | 20 | 104 | (1) | (635) | |||||||||||||||||||||||||
Banks and finance companies | 58,252 | 36,804 | 21,448 | 49,465 | 4,892 | 3,890 | 5 | 150 | (5) | (680) | |||||||||||||||||||||||||
Asset managers and funds | 55,517 | 26,879 | 28,638 | 54,119 | 1,019 | 377 | 2 | 211 | — | (869) | |||||||||||||||||||||||||
Energy and commodities(5) | 48,973 | 13,485 | 35,488 | 38,972 | 7,517 | 2,220 | 264 | 224 | 78 | (3,679) | |||||||||||||||||||||||||
Health | 33,393 | 8,826 | 24,567 | 27,600 | 4,702 | 942 | 149 | 95 | — | (2,465) | |||||||||||||||||||||||||
Insurance | 28,495 | 3,162 | 25,333 | 27,447 | 987 | 61 | — | 2 | 1 | (2,711) | |||||||||||||||||||||||||
Public sector | 23,842 | 12,464 | 11,378 | 21,035 | 1,527 | 1,275 | 5 | 37 | (3) | (1,282) | |||||||||||||||||||||||||
Financial markets infrastructure | 14,341 | 109 | 14,232 | 14,323 | 18 | — | — | — | — | (22) | |||||||||||||||||||||||||
Securities firms | 1,472 | 613 | 859 | 605 | 816 | 51 | — | 4 | — | (5) | |||||||||||||||||||||||||
Other industries | 6,591 | 2,803 | 3,788 | 4,151 | 1,890 | 489 | 61 | — | 5 | (169) | |||||||||||||||||||||||||
Total | $ | 713,097 | $ | 284,527 | $ | 428,570 | $ | 584,790 | $ | 89,351 | $ | 36,563 | $ | 2,393 | $ | 1,895 | $ | 386 | $ | (39,269) |
September 30, 2021 | June 30, 2021 | December 31, 2020 | |||||||||
AAA/AA/A | 32 | % | 34 | % | 30 | % | |||||
BBB | 47 | 46 | 48 | ||||||||
BB/B | 17 | 17 | 19 | ||||||||
CCC or below | 4 | 3 | 3 | ||||||||
Total | 100 | % | 100 | % | 100 | % |
June 30, 2022 | March 31, 2022 | December 31, 2021 | |||||||||
AAA/AA/A | 37 | % | 38 | % | 35 | % | |||||
BBB | 44 | 46 | 49 | ||||||||
BB/B | 14 | 13 | 13 | ||||||||
CCC or below | 5 | 3 | 3 | ||||||||
Total | 100 | % | 100 | % | 100 | % |
In billions of dollars | 2Q21 | 3Q21(2) | 4Q21(2) | 1Q22(2) | 2Q22(2) | |||||||||||||||
Personal Banking and Wealth Management | ||||||||||||||||||||
U.S. Personal Banking | ||||||||||||||||||||
Cards | ||||||||||||||||||||
Branded cards | $ | 82.1 | $ | 82.8 | $ | 87.9 | $ | 85.9 | $ | 91.6 | ||||||||||
Retail services | 42.7 | 42.7 | 46.0 | 44.1 | 45.8 | |||||||||||||||
Retail banking | ||||||||||||||||||||
Mortgages(5) | 31.0 | 30.5 | 30.2 | 30.5 | 32.3 | |||||||||||||||
Personal, small business and other | 3.3 | 2.9 | 2.8 | 2.8 | 3.1 | |||||||||||||||
Global Wealth(3)(4) | ||||||||||||||||||||
Cards | 3.7 | 3.7 | 4.0 | 3.8 | 4.0 | |||||||||||||||
Mortgages(5) | 72.8 | 73.9 | 74.6 | 75.4 | 77.8 | |||||||||||||||
Personal, small business and other(6) | 73.2 | 72.7 | 72.7 | 71.0 | 67.0 | |||||||||||||||
Total | $ | 308.8 | $ | 309.2 | $ | 318.2 | $ | 313.5 | $ | 321.6 | ||||||||||
Legacy Franchises | ||||||||||||||||||||
Asia Consumer(7) | $ | 53.5 | $ | 42.9 | $ | 41.1 | $ | 19.5 | $ | 17.3 | ||||||||||
Mexico Consumer (excludes Mexico SBMM) | 13.5 | 13.0 | 13.3 | 13.6 | 13.5 | |||||||||||||||
Legacy Holdings Assets(8) | 5.0 | 4.2 | 3.9 | 3.7 | 3.2 | |||||||||||||||
Total | $ | 72.0 | $ | 60.1 | $ | 58.3 | $ | 36.8 | $ | 34.0 | ||||||||||
Total consumer loans | $ | 380.8 | $ | 369.3 | $ | 376.5 | $ | 350.3 | $ | 355.6 |
Personal Banking and Wealth Management |
Branded Cards |
Retail Services |
Retail Banking |
Global Wealth |
Asia(1) Consumer |
Mexico Consumer |
FICO distribution(1) | June 30, 2022 | March 31, 2022 | June 30, 2021 | ||||||||
> 760 | 49 | % | 48 | % | 49 | % | |||||
680–760 | 38 | 39 | 39 | ||||||||
< 680 | 13 | 13 | 12 | ||||||||
Total | 100 | % | 100 | % | 100 | % |
FICO distribution(1) | June 30, 2022 | March 31, 2022 | June 30, 2021 | ||||||||
> 760 | 28 | % | 27 | % | 28 | % | |||||
680–760 | 43 | 44 | 45 | ||||||||
< 680 | 29 | 29 | 27 | ||||||||
Total | 100 | % | 100 | % | 100 | % |
EOP loans(1) | 90+ days past due(2) | 30–89 days past due(2) | |||||||||||||||||||||
In millions of dollars, except EOP loan amounts in billions | June 30, 2022 | June 30, 2022 | March 31, 2022 | June 30, 2021 | June 30, 2022 | March 31, 2022 | June 30, 2021 | ||||||||||||||||
Personal Banking and Wealth Management(3)(4)(5) | |||||||||||||||||||||||
Total | $ | 321.6 | $ | 1,383 | $ | 1,383 | $ | 1,366 | $ | 1,435 | $ | 1,397 | $ | 1,263 | |||||||||
Ratio | 0.52 | % | 0.54 | % | 0.55 | % | 0.54 | % | 0.55 | % | 0.51 | % | |||||||||||
U.S. Personal Banking | |||||||||||||||||||||||
Total | $ | 172.8 | $ | 1,128 | $ | 1,090 | $ | 1,124 | $ | 1,201 | $ | 1,159 | $ | 1,002 | |||||||||
Ratio | 0.66 | % | 0.68 | % | 0.71 | % | 0.70 | % | 0.71 | % | 0.63 | % | |||||||||||
Cards(4) | |||||||||||||||||||||||
Total | 137.4 | 949 | 910 | 920 | 1,009 | 987 | 770 | ||||||||||||||||
Ratio | 0.69 | % | 0.70 | % | 0.74 | % | 0.73 | % | 0.76 | % | 0.62 | % | |||||||||||
Branded cards | 91.6 | 420 | 404 | 457 | 428 | 425 | 355 | ||||||||||||||||
Ratio | 0.46 | % | 0.47 | % | 0.56 | % | 0.47 | % | 0.49 | % | 0.43 | % | |||||||||||
Retail services | 45.8 | 529 | 506 | 463 | 581 | 562 | 415 | ||||||||||||||||
Ratio | 1.16 | % | 1.15 | % | 1.08 | % | 1.27 | % | 1.27 | % | 0.97 | % | |||||||||||
Retail banking(3) | 35.4 | 179 | 180 | 204 | 192 | 172 | 232 | ||||||||||||||||
Ratio | 0.52 | % | 0.56 | % | 0.61 | % | 0.55 | % | 0.53 | % | 0.69 | % | |||||||||||
Global Wealth delinquency-managed loans(5) | $ | 94.0 | $ | 255 | $ | 293 | $ | 242 | $ | 234 | $ | 238 | $ | 261 | |||||||||
Ratio | 0.27 | % | 0.32 | % | 0.27 | % | 0.25 | % | 0.26 | % | 0.29 | % | |||||||||||
Global Wealth classifiably managed loans(6) | $ | 54.8 | N/A | N/A | N/A | N/A | N/A | N/A | |||||||||||||||
Legacy Franchises | |||||||||||||||||||||||
Total | $ | 34.0 | $ | 393 | $ | 432 | $ | 857 | $ | 293 | $ | 316 | $ | 793 | |||||||||
Ratio | 1.16 | % | 1.19 | % | 1.20 | % | 0.87 | % | 0.87 | % | 1.11 | % | |||||||||||
Asia Consumer(7)(8) | 17.3 | 51 | 54 | 349 | 70 | 62 | 466 | ||||||||||||||||
Ratio | 0.29 | % | 0.28 | % | 0.65 | % | 0.40 | % | 0.32 | % | 0.87 | % | |||||||||||
Mexico Consumer | 13.5 | 174 | 180 | 249 | 159 | 177 | 216 | ||||||||||||||||
Ratio | 1.29 | % | 1.32 | % | 1.84 | % | 1.18 | % | 1.30 | % | 1.60 | % | |||||||||||
Legacy Holdings Assets (consumer)(9) | 3.2 | 168 | 198 | 259 | 64 | 77 | 111 | ||||||||||||||||
Ratio | 5.60 | % | 6.00 | % | 5.51 | % | 2.13 | % | 2.33 | % | 2.36 | % | |||||||||||
Total Citigroup consumer | $ | 355.6 | $ | 1,776 | $ | 1,815 | $ | 2,223 | $ | 1,728 | $ | 1,713 | $ | 2,056 | |||||||||
Ratio | 0.59 | % | 0.63 | % | 0.70 | % | 0.58 | % | 0.59 | % | 0.64 | % |
Average loans(1) | Net credit losses(2) | |||||||||||||||||||||||||
In millions of dollars, except average loan amounts in billions | 2Q22 | 2Q22 | 1Q22 | 2Q21 | ||||||||||||||||||||||
Personal Banking and Wealth Management(2) | ||||||||||||||||||||||||||
Total | $ | 317.2 | $ | 699 | $ | 691 | $ | 862 | ||||||||||||||||||
Ratio | 0.88 | % | 0.90 | % | 1.14 | % | ||||||||||||||||||||
U.S. Personal Banking | ||||||||||||||||||||||||||
Total | $ | 167.2 | $ | 679 | $ | 681 | $ | 818 | ||||||||||||||||||
Ratio | 1.63 | % | 1.71 | % | 2.10 | % | ||||||||||||||||||||
Cards | ||||||||||||||||||||||||||
Total | 132.7 | 619 | 555 | 793 | ||||||||||||||||||||||
Ratio | 1.87 | % | 1.76 | % | 2.61 | % | ||||||||||||||||||||
Branded cards | 87.9 | 329 | 303 | 467 | ||||||||||||||||||||||
Ratio | 1.50 | % | 1.46 | % | 2.36 | % | ||||||||||||||||||||
Retail services | 44.8 | 290 | 252 | 326 | ||||||||||||||||||||||
Ratio | 2.60 | % | 2.31 | % | 3.09 | % | ||||||||||||||||||||
Retail banking | 34.5 | 60 | 126 | 25 | ||||||||||||||||||||||
Ratio | 0.70 | % | 1.54 | % | 0.29 | % | ||||||||||||||||||||
Global Wealth | $ | 150.0 | $ | 20 | $ | 10 | $ | 44 | ||||||||||||||||||
Ratio | 0.05 | % | 0.03 | % | 0.12 | % | ||||||||||||||||||||
Legacy Franchises | ||||||||||||||||||||||||||
Total | $ | 35.3 | $ | 128 | $ | 150 | $ | 381 | ||||||||||||||||||
Ratio | 1.45 | % | 1.51 | % | 2.08 | % | ||||||||||||||||||||
Asia Consumer(3)(4) | 18.2 | 35 | 45 | 153 | ||||||||||||||||||||||
Ratio | 0.77 | % | 0.79 | % | 1.13 | % | ||||||||||||||||||||
Mexico Consumer | 13.5 | 105 | 122 | 250 | ||||||||||||||||||||||
Ratio | 3.12 | % | 3.78 | % | 7.43 | % | ||||||||||||||||||||
Legacy Holdings Assets (consumer) | 3.6 | (12) | (17) | (22) | ||||||||||||||||||||||
Ratio | (1.34) | % | (1.72) | % | (1.52) | % | ||||||||||||||||||||
Total Citigroup | $ | 352.5 | $ | 827 | $ | 841 | $ | 1,243 | ||||||||||||||||||
Ratio | 0.94 | % | 0.97 | % | 1.32 | % |
3rd Qtr. | 2nd Qtr. | 1st Qtr. | 4th Qtr. | 3rd Qtr. | 2nd Qtr. | 1st Qtr. | 4th Qtr. | 3rd Qtr. | 2nd Qtr. | |||||||||||||||||||||||||
In millions of dollars | In millions of dollars | 2021 | 2021 | 2020 | In millions of dollars | 2022 | 2022 | 2021 | ||||||||||||||||||||||||||
Consumer loans | Consumer loans | Consumer loans | ||||||||||||||||||||||||||||||||
In North America offices(1) | In North America offices(1) | In North America offices(1) | ||||||||||||||||||||||||||||||||
Residential first mortgages(2) | Residential first mortgages(2) | $ | 44,345 | $ | 44,835 | $ | 45,739 | $ | 47,778 | $ | 48,370 | Residential first mortgages(2) | $ | 88,662 | $ | 84,569 | $ | 83,361 | $ | 83,593 | $ | 83,227 | ||||||||||||
Home equity loans(2) | Home equity loans(2) | 5,485 | 6,168 | 6,638 | 7,128 | 7,625 | Home equity loans(2) | 5,074 | 5,328 | 5,745 | 6,194 | 6,892 | ||||||||||||||||||||||
Credit cards | Credit cards | 125,526 | 124,823 | 121,048 | 130,385 | 125,485 | Credit cards | 137,412 | 129,989 | 133,868 | 125,526 | 124,823 | ||||||||||||||||||||||
Personal, small business and other | Personal, small business and other | 3,179 | 3,676 | 4,600 | 4,509 | 4,689 | Personal, small business and other | 39,436 | 41,297 | 40,713 | 39,909 | 40,835 | ||||||||||||||||||||||
Total | Total | $ | 178,535 | $ | 179,502 | $ | 178,025 | $ | 189,800 | $ | 186,169 | Total | $ | 270,584 | $ | 261,183 | $ | 263,687 | $ | 255,222 | $ | 255,777 | ||||||||||||
In offices outside North America(1) | In offices outside North America(1) | In offices outside North America(1) | ||||||||||||||||||||||||||||||||
Residential first mortgages(2) | $ | 34,339 | $ | 40,344 | $ | 39,833 | $ | 39,969 | $ | 38,507 | ||||||||||||||||||||||||
Residential mortgages(2) | Residential mortgages(2) | $ | 28,129 | $ | 29,017 | $ | 37,889 | $ | 46,920 | $ | 43,260 | |||||||||||||||||||||||
Credit cards | Credit cards | 17,763 | 20,776 | 21,137 | 22,692 | 21,108 | Credit cards | 11,858 | 11,546 | 17,808 | 17,763 | 20,776 | ||||||||||||||||||||||
Personal, small business and other | Personal, small business and other | 33,613 | 35,273 | 35,039 | 36,378 | 34,241 | Personal, small business and other | 45,034 | 48,582 | 57,150 | 49,387 | 60,991 | ||||||||||||||||||||||
Total | Total | $ | 85,715 | $ | 96,393 | $ | 96,009 | $ | 99,039 | $ | 93,856 | Total | $ | 85,021 | $ | 89,145 | $ | 112,847 | $ | 114,070 | $ | 125,027 | ||||||||||||
Consumer loans, net of unearned income(3) | Consumer loans, net of unearned income(3) | $ | 264,250 | $ | 275,895 | $ | 274,034 | $ | 288,839 | $ | 280,025 | Consumer loans, net of unearned income(3) | $ | 355,605 | $ | 350,328 | $ | 376,534 | $ | 369,292 | $ | 380,804 | ||||||||||||
Corporate loans | Corporate loans | Corporate loans | ||||||||||||||||||||||||||||||||
In North America offices(1) | In North America offices(1) | In North America offices(1) | ||||||||||||||||||||||||||||||||
Commercial and industrial | Commercial and industrial | $ | 56,496 | $ | 53,549 | $ | 55,497 | $ | 57,731 | $ | 59,921 | Commercial and industrial | $ | 55,823 | $ | 54,063 | $ | 48,364 | $ | 52,988 | $ | 49,759 | ||||||||||||
Financial institutions | Financial institutions | 62,818 | 65,494 | 57,009 | 55,809 | 52,884 | Financial institutions | 46,088 | 47,930 | 49,804 | 44,172 | 46,369 | ||||||||||||||||||||||
Mortgage and real estate(2) | Mortgage and real estate(2) | 63,584 | 62,162 | 60,976 | 60,675 | 59,340 | Mortgage and real estate(2) | 17,359 | 17,536 | 15,965 | 16,422 | 15,801 | ||||||||||||||||||||||
Installment and other | Installment and other | 26,922 | 26,757 | 29,186 | 26,744 | 26,858 | Installment and other | 20,466 | 18,812 | 20,143 | 16,944 | 16,985 | ||||||||||||||||||||||
Lease financing | Lease financing | 425 | 547 | 539 | 673 | 704 | Lease financing | 379 | 379 | 415 | 425 | 547 | ||||||||||||||||||||||
Total | Total | $ | 210,245 | $ | 208,509 | $ | 203,207 | $ | 201,632 | $ | 199,707 | Total | $ | 140,115 | $ | 138,720 | $ | 134,691 | $ | 130,951 | $ | 129,461 | ||||||||||||
In offices outside North America(1) | In offices outside North America(1) | In offices outside North America(1) | ||||||||||||||||||||||||||||||||
Commercial and industrial | Commercial and industrial | $ | 105,671 | $ | 105,486 | $ | 102,666 | $ | 104,072 | $ | 108,551 | Commercial and industrial | $ | 108,274 | $ | 112,732 | $ | 102,735 | $ | 105,124 | $ | 104,857 | ||||||||||||
Financial institutions | Financial institutions | 33,501 | 35,713 | 34,729 | 32,334 | 32,583 | Financial institutions | 24,654 | 27,657 | 22,158 | 25,013 | 27,285 | ||||||||||||||||||||||
Mortgage and real estate(2) | Mortgage and real estate(2) | 10,685 | 10,995 | 11,166 | 11,371 | 10,424 | Mortgage and real estate(2) | 4,455 | 4,705 | 4,374 | 4,749 | 4,886 | ||||||||||||||||||||||
Installment and other | Installment and other | 36,054 | 35,787 | 35,347 | 33,759 | 32,323 | Installment and other | 19,862 | 21,275 | 22,812 | 25,277 | 25,092 | ||||||||||||||||||||||
Lease financing | Lease financing | 47 | 54 | 56 | 65 | 63 | Lease financing | 53 | 47 | 40 | 47 | 54 | ||||||||||||||||||||||
Governments and official institutions | Governments and official institutions | 4,311 | 4,395 | 4,783 | 3,811 | 3,235 | Governments and official institutions | 4,315 | 4,205 | 4,423 | 4,311 | 4,395 | ||||||||||||||||||||||
Total | Total | $ | 190,269 | $ | 192,430 | $ | 188,747 | $ | 185,412 | $ | 187,179 | Total | $ | 161,613 | $ | 170,621 | $ | 156,542 | $ | 164,521 | $ | 166,569 | ||||||||||||
Corporate loans, net of unearned income(4) | Corporate loans, net of unearned income(4) | $ | 400,514 | $ | 400,939 | $ | 391,954 | $ | 387,044 | $ | 386,886 | Corporate loans, net of unearned income(4) | $ | 301,728 | $ | 309,341 | $ | 291,233 | $ | 295,472 | $ | 296,030 | ||||||||||||
Total loans—net of unearned income | Total loans—net of unearned income | $ | 664,764 | $ | 676,834 | $ | 665,988 | $ | 675,883 | $ | 666,911 | Total loans—net of unearned income | $ | 657,333 | $ | 659,669 | $ | 667,767 | $ | 664,764 | $ | 676,834 | ||||||||||||
Allowance for credit losses on loans (ACLL) | Allowance for credit losses on loans (ACLL) | (17,715) | (19,238) | (21,638) | (24,956) | (26,426) | Allowance for credit losses on loans (ACLL) | (15,952) | (15,393) | (16,455) | (17,715) | (19,238) | ||||||||||||||||||||||
Total loans—net of unearned income and ACLL | Total loans—net of unearned income and ACLL | $ | 647,049 | $ | 657,596 | $ | 644,350 | $ | 650,927 | $ | 640,485 | Total loans—net of unearned income and ACLL | $ | 641,381 | $ | 644,276 | $ | 651,312 | $ | 647,049 | $ | 657,596 | ||||||||||||
ACLL as a percentage of total loans— net of unearned income(5) | ACLL as a percentage of total loans— net of unearned income(5) | 2.69 | % | 2.88 | % | 3.29 | % | 3.73 | % | 4.00 | % | ACLL as a percentage of total loans— net of unearned income(5) | 2.44 | % | 2.35 | % | 2.49 | % | 2.69 | % | 2.88 | % | ||||||||||||
ACLL for consumer loan losses as a percentage of total consumer loans—net of unearned income(5) | ACLL for consumer loan losses as a percentage of total consumer loans—net of unearned income(5) | 5.55 | % | 5.84 | % | 6.41 | % | 6.77 | % | 6.96 | % | ACLL for consumer loan losses as a percentage of total consumer loans—net of unearned income(5) | 3.65 | % | 3.53 | % | 3.73 | % | 4.09 | % | 4.35 | % | ||||||||||||
ACLL for corporate loan losses as a percentage of total corporate loans—net of unearned income(5) | ACLL for corporate loan losses as a percentage of total corporate loans—net of unearned income(5) | 0.77 | % | 0.80 | % | 1.06 | % | 1.42 | % | 1.82 | % | ACLL for corporate loan losses as a percentage of total corporate loans—net of unearned income(5) | 1.00 | % | 1.00 | % | 0.85 | % | 0.91 | % | 0.93 | % |
3rd Qtr. | 2nd Qtr. | 1st Qtr. | 4th Qtr. | 3rd Qtr. | 2nd Qtr. | 1st Qtr. | 4th Qtr. | 3rd Qtr. | 2nd Qtr. | |||||||||||||||||||||||||
In millions of dollars | In millions of dollars | 2021 | 2021 | 2020 | In millions of dollars | 2022 | 2022 | 2021 | ||||||||||||||||||||||||||
Allowance for credit losses on loans (ACLL) at beginning of period | Allowance for credit losses on loans (ACLL) at beginning of period | $ | 19,238 | $ | 21,638 | $ | 24,956 | $ | 26,426 | $ | 26,298 | Allowance for credit losses on loans (ACLL) at beginning of period | $ | 15,393 | $ | 16,455 | $ | 17,715 | $ | 19,238 | $ | 21,638 | ||||||||||||
Provision for credit losses on loans (PCLL) | Provision for credit losses on loans (PCLL) | Provision for credit losses on loans (PCLL) | ||||||||||||||||||||||||||||||||
Consumer | Consumer | $ | (162) | $ | (265) | $ | (354) | $ | 1,034 | $ | 1,500 | Consumer | $ | 1,440 | $ | (372) | $ | (202) | $ | (180) | $ | (340) | ||||||||||||
Corporate | Corporate | (26) | (861) | (1,125) | (1,410) | 431 | Corporate | (56) | 632 | (108) | (8) | (786) | ||||||||||||||||||||||
Total | Total | $ | (188) | $ | (1,126) | $ | (1,479) | $ | (376) | $ | 1,931 | Total | $ | 1,384 | $ | 260 | $ | (310) | $ | (188) | $ | (1,126) | ||||||||||||
Gross credit losses on loans | Gross credit losses on loans | Gross credit losses on loans | ||||||||||||||||||||||||||||||||
Consumer | Consumer | Consumer | ||||||||||||||||||||||||||||||||
In U.S. offices | In U.S. offices | $ | 891 | $ | 1,117 | $ | 1,247 | $ | 1,130 | $ | 1,479 | In U.S. offices | $ | 934 | $ | 947 | $ | 802 | $ | 893 | $ | 1,131 | ||||||||||||
In offices outside the U.S. | In offices outside the U.S. | 449 | 576 | 758 | 524 | 537 | In offices outside the U.S. | 221 | 245 | 360 | 449 | 576 | ||||||||||||||||||||||
Corporate | Corporate | Corporate | ||||||||||||||||||||||||||||||||
In U.S. offices | In U.S. offices | 20 | 56 | 156 | 159 | 194 | In U.S. offices | 21 | 29 | 27 | 17 | 42 | ||||||||||||||||||||||
In offices outside the U.S. | In offices outside the U.S. | 29 | 95 | 47 | 76 | 157 | In offices outside the U.S. | 36 | 19 | 90 | 30 | 95 | ||||||||||||||||||||||
Total | Total | $ | 1,389 | $ | 1,844 | $ | 2,208 | $ | 1,889 | $ | 2,367 | Total | $ | 1,212 | $ | 1,240 | $ | 1,279 | $ | 1,389 | $ | 1,844 | ||||||||||||
Credit recoveries on loans(1) | ||||||||||||||||||||||||||||||||||
Gross recoveries on loans | Gross recoveries on loans | |||||||||||||||||||||||||||||||||
Consumer | Consumer | Consumer | ||||||||||||||||||||||||||||||||
In U.S. offices | In U.S. offices | $ | 297 | $ | 323 | $ | 316 | $ | 270 | $ | 304 | In U.S. offices | $ | 265 | $ | 293 | $ | 273 | $ | 299 | $ | 324 | ||||||||||||
In offices outside the U.S. | In offices outside the U.S. | 121 | 139 | 127 | 122 | 118 | In offices outside the U.S. | 63 | 58 | 108 | 121 | 140 | ||||||||||||||||||||||
Corporate | Corporate | Corporate | ||||||||||||||||||||||||||||||||
In U.S. offices | In U.S. offices | 7 | 40 | 10 | 16 | 8 | In U.S. offices | 2 | 13 | 8 | 5 | 38 | ||||||||||||||||||||||
In offices outside the U.S. | In offices outside the U.S. | 3 | 22 | 7 | 9 | 18 | In offices outside the U.S. | 32 | 4 | 24 | 3 | 22 | ||||||||||||||||||||||
Total | Total | $ | 428 | $ | 524 | $ | 460 | $ | 417 | $ | 448 | Total | $ | 362 | $ | 368 | $ | 413 | $ | 428 | $ | 524 | ||||||||||||
Net credit losses on loans (NCLs) | Net credit losses on loans (NCLs) | Net credit losses on loans (NCLs) | ||||||||||||||||||||||||||||||||
In U.S. offices | In U.S. offices | $ | 607 | $ | 810 | $ | 1,077 | $ | 1,003 | $ | 1,361 | In U.S. offices | $ | 688 | $ | 670�� | $ | 548 | $ | 606 | $ | 811 | ||||||||||||
In offices outside the U.S. | In offices outside the U.S. | 354 | 510 | 671 | 469 | 558 | In offices outside the U.S. | 162 | 202 | 318 | 355 | 509 | ||||||||||||||||||||||
Total | Total | $ | 961 | $ | 1,320 | $ | 1,748 | $ | 1,472 | $ | 1,919 | Total | $ | 850 | $ | 872 | $ | 866 | $ | 961 | $ | 1,320 | ||||||||||||
Other—net | Other—net | $ | (374) | $ | 46 | $ | (91) | $ | 378 | $ | 116 | Other—net | $ | 25 | $ | (450) | $ | (84) | $ | (374) | $ | 46 | ||||||||||||
Allowance for credit losses on loans (ACLL) at end of period | Allowance for credit losses on loans (ACLL) at end of period | $ | 17,715 | $ | 19,238 | $ | 21,638 | $ | 24,956 | $ | 26,426 | Allowance for credit losses on loans (ACLL) at end of period | $ | 15,952 | $ | 15,393 | $ | 16,455 | $ | 17,715 | $ | 19,238 | ||||||||||||
ACLL as a percentage of EOP loans | ACLL as a percentage of EOP loans | 2.69 | % | 2.88 | % | 3.29 | % | 3.73 | % | 4.00 | % | ACLL as a percentage of EOP loans | 2.44 | % | 2.35 | % | 2.49 | % | 2.69 | % | 2.88 | % | ||||||||||||
Allowance for credit losses on unfunded lending commitments (ACLUC)(9)(10) | $ | 2,063 | $ | 2,073 | $ | 2,012 | $ | 2,655 | $ | 2,299 | ||||||||||||||||||||||||
Allowance for credit losses on unfunded lending commitments (ACLUC)(8) | Allowance for credit losses on unfunded lending commitments (ACLUC)(8) | $ | 2,193 | $ | 2,343 | $ | 1,871 | $ | 2,063 | $ | 2,073 | |||||||||||||||||||||||
Total ACLL and ACLUC | Total ACLL and ACLUC | $ | 19,778 | $ | 21,311 | $ | 23,650 | $ | 27,611 | $ | 28,725 | Total ACLL and ACLUC | $ | 18,145 | $ | 17,736 | $ | 18,326 | $ | 19,778 | $ | 21,311 | ||||||||||||
Net consumer credit losses on loans | Net consumer credit losses on loans | $ | 922 | $ | 1,231 | $ | 1,562 | $ | 1,262 | $ | 1,594 | Net consumer credit losses on loans | $ | 827 | $ | 841 | $ | 781 | $ | 922 | $ | 1,243 | ||||||||||||
As a percentage of average consumer loans | As a percentage of average consumer loans | 1.37 | % | 1.80 | % | 2.28 | % | 1.77 | % | 2.26 | % | As a percentage of average consumer loans | 0.94 | % | 0.97 | % | 0.83 | % | 0.98 | % | 1.32 | % | ||||||||||||
Net corporate credit losses on loans | Net corporate credit losses on loans | $ | 39 | $ | 89 | $ | 186 | $ | 210 | $ | 325 | Net corporate credit losses on loans | $ | 23 | $ | 31 | $ | 85 | $ | 39 | $ | 77 | ||||||||||||
As a percentage of average corporate loans | As a percentage of average corporate loans | 0.04 | % | 0.09 | % | 0.20 | % | 0.22 | % | 0.33 | % | As a percentage of average corporate loans | 0.03 | % | 0.04 | % | 0.11 | % | 0.05 | % | 0.11 | % | ||||||||||||
ACLL by type at end of period(11) | ||||||||||||||||||||||||||||||||||
ACLL by type at end of period(9) | ACLL by type at end of period(9) | |||||||||||||||||||||||||||||||||
Consumer | Consumer | $ | 14,668 | $ | 16,111 | $ | 17,554 | $ | 19,554 | $ | 19,488 | Consumer | $ | 12,983 | $ | 12,368 | $ | 14,040 | $ | 15,105 | $ | 16,566 | ||||||||||||
Corporate | Corporate | 3,047 | 3,127 | 4,084 | 5,402 | 6,938 | Corporate | 2,969 | 3,025 | 2,415 | 2,610 | 2,672 | ||||||||||||||||||||||
Total | Total | $ | 17,715 | $ | 19,238 | $ | 21,638 | $ | 24,956 | $ | 26,426 | Total | $ | 15,952 | $ | 15,393 | $ | 16,455 | $ | 17,715 | $ | 19,238 |
September 30, 2021 | June 30, 2022 | |||||||||||||||||||||
In billions of dollars | In billions of dollars | ACLL | EOP loans, net of unearned income | ACLL as a percentage of EOP loans(1) | In billions of dollars | ACLL | EOP loans, net of unearned income | ACLL as a percentage of EOP loans(1) | ||||||||||||||
Consumer | Consumer | |||||||||||||||||||||
North America cards(2) | North America cards(2) | $ | 11.8 | $ | 125.5 | 9.4 | % | North America cards(2) | $ | 10.3 | $ | 137.4 | 7.5 | % | ||||||||
North America mortgages(3) | North America mortgages(3) | 0.3 | 49.8 | 0.6 | North America mortgages(3) | 0.2 | 93.7 | 0.2 | ||||||||||||||
North America other | 0.2 | 3.2 | 6.3 | |||||||||||||||||||
North America other(3) | North America other(3) | 0.7 | 39.4 | 1.8 | ||||||||||||||||||
International cards | International cards | 1.3 | 17.8 | 7.3 | International cards | 0.9 | 11.9 | 7.6 | ||||||||||||||
International other(4) | 1.1 | 68.0 | 1.6 | |||||||||||||||||||
Total consumer | $ | 14.7 | $ | 264.3 | 5.6 | % | ||||||||||||||||
Total corporate | 3.0 | 400.5 | 0.8 | |||||||||||||||||||
International other(3) | International other(3) | 0.9 | 73.2 | 1.2 | ||||||||||||||||||
Total | Total | $ | 13.0 | $ | 355.6 | 3.7 | % | |||||||||||||||
Corporate | Corporate | |||||||||||||||||||||
Commercial and industrial | Commercial and industrial | $ | 2.0 | $ | 161.3 | 1.2 | % | |||||||||||||||
Financial institutions | Financial institutions | 0.2 | 70.4 | 0.3 | ||||||||||||||||||
Mortgage and real estate | Mortgage and real estate | 0.3 | 21.8 | 1.4 | ||||||||||||||||||
Installment and other | Installment and other | 0.5 | 43.7 | 1.1 | ||||||||||||||||||
Total | Total | $ | 3.0 | $ | 297.2 | 1.0 | % | |||||||||||||||
Loans at fair value(1) | Loans at fair value(1) | N/A | $ | 4.5 | N/A | |||||||||||||||||
Total Citigroup | Total Citigroup | $ | 17.7 | $ | 664.8 | 2.7 | % | Total Citigroup | $ | 16.0 | $ | 657.3 | 2.4 | % |
December 31, 2021 | |||||||||||
In billions of dollars | ACLL | EOP loans, net of unearned income | ACLL as a percentage of EOP loans(1) | ||||||||
Consumer | |||||||||||
North America cards(2) | $ | 10.8 | $ | 133.9 | 8.1 | % | |||||
North America mortgages(3) | 0.5 | 89.1 | 0.6 | ||||||||
North America other(3) | 0.4 | 40.7 | 1.0 | ||||||||
International cards | 1.2 | 17.8 | 6.7 | ||||||||
International other(3) | 1.2 | 95.0 | 1.3 | ||||||||
Total | $ | 14.1 | $ | 376.5 | 3.7 | % | |||||
Corporate | |||||||||||
Commercial and industrial | $ | 1.6 | $ | 147.0 | 1.1 | % | |||||
Financial institutions | 0.3 | 71.8 | 0.4 | ||||||||
Mortgage and real estate | 0.3 | 20.3 | 1.5 | ||||||||
Installment and other | 0.2 | 46.1 | 0.4 | ||||||||
Total | $ | 2.4 | $ | 285.2 | 0.8 | % | |||||
Loans at fair value(1) | N/A | $ | 6.1 | N/A | |||||||
Total Citigroup | $ | 16.5 | $ | 667.8 | 2.5 | % |
December 31, 2020 | |||||||||||
In billions of dollars | ACLL | EOP loans, net of unearned income | ACLL as a percentage of EOP loans(1) | ||||||||
North America cards(2) | $ | 14.7 | $ | 130.4 | 11.3 | % | |||||
North America mortgages(3) | 0.7 | 54.9 | 1.3 | ||||||||
North America other | 0.3 | 4.5 | 6.7 | ||||||||
International cards | 2.1 | $ | 22.7 | 9.3 | |||||||
International other(4) | 1.8 | 76.3 | 2.4 | ||||||||
Total consumer | $ | 19.6 | $ | 288.8 | 6.8 | % | |||||
Total corporate | 5.4 | 387.1 | 1.4 | ||||||||
Total Citigroup | $ | 25.0 | $ | 675.9 | 3.7 | % |
September 30, 2021 | |||||||||||
In millions of dollars, except percentages | Funded exposure(1) | ACLL(2)(3) | ACLL as a % of funded exposure | ||||||||
Transportation and industrials | $ | 53,232 | $ | 732 | 1.4 | % | |||||
Private bank | 78,185 | 148 | 0.2 | ||||||||
Consumer retail | 35,713 | 301 | 0.8 | ||||||||
Technology, media and telecom | 30,311 | 179 | 0.6 | ||||||||
Real estate | 45,850 | 554 | 1.2 | ||||||||
Power, chemicals, metals and mining | 19,927 | 146 | 0.7 | ||||||||
Banks and finance companies | 34,497 | 160 | 0.5 | ||||||||
Energy and commodities | 14,455 | 250 | 1.7 | ||||||||
Health | 7,888 | 90 | 1.1 | ||||||||
Public sector | 14,368 | 95 | 0.7 | ||||||||
Insurance | 2,482 | 8 | 0.3 | ||||||||
Asset managers and funds | 6,500 | 30 | 0.5 | ||||||||
Financial markets infrastructure | 236 | — | — | ||||||||
Securities firms | 701 | 16 | 2.3 | ||||||||
Other industries | 2,929 | 41 | 1.4 | ||||||||
Total | $ | 347,274 | $ | 2,750 | 0.8 | % |
June 30, 2022 | |||||||||||
In millions of dollars, except percentages | Funded exposure(1) | ACLL | ACLL as a % of funded exposure | ||||||||
Transportation and industrials | $ | 53,641 | $ | 736 | 1.4 | % | |||||
Technology, media and telecom | 31,428 | 245 | 0.8 | ||||||||
Consumer retail | 34,924 | 518 | 1.5 | ||||||||
Real estate | 47,001 | 425 | 0.9 | ||||||||
Power, chemicals, metals and mining | 19,886 | 411 | 2.1 | ||||||||
Banks and finance companies | 39,794 | 142 | 0.4 | ||||||||
Asset managers and funds | 21,154 | 26 | 0.1 | ||||||||
Energy and commodities | 16,822 | 257 | 1.5 | ||||||||
Health | 9,161 | 78 | 0.9 | ||||||||
Insurance | 3,519 | 9 | 0.3 | ||||||||
Public sector | 14,668 | 59 | 0.4 | ||||||||
Financial markets infrastructure | 124 | — | — | ||||||||
Securities firms | 701 | 7 | 1.0 | ||||||||
Other industries | 3,148 | 48 | 1.5 | ||||||||
Total classifiably managed loans(2) | $ | 295,971 | $ | 2,961 | 1.0 | % | |||||
Loans managed on a delinquency basis(3) | $ | 1,229 | $ | 8 | 0.7 | % | |||||
Total | $ | 297,200 | $ | 2,969 | 1.0 | % |
December 31, 2021 | |||||||||||
In millions of dollars, except percentages | Funded exposure(1) | ACLL | ACLL as a % of funded exposure | ||||||||
Transportation and industrials | $ | 51,502 | $ | 597 | 1.2 | % | |||||
Technology, media and telecom | 28,542 | 170 | 0.6 | ||||||||
Consumer retail | 32,894 | 288 | 0.9 | ||||||||
Real estate | 46,220 | 509 | 1.1 | ||||||||
Power, chemicals, metals and mining | 20,224 | 151 | 0.7 | ||||||||
Banks and finance companies | 36,804 | 197 | 0.5 | ||||||||
Asset managers and funds | 26,879 | 34 | 0.1 | ||||||||
Energy and commodities | 13,485 | 268 | 2.0 | ||||||||
Health | 8,826 | 73 | 0.8 | ||||||||
Insurance | 3,162 | 8 | 0.3 | ||||||||
Public sector | 12,464 | 74 | 0.6 | ||||||||
Financial markets infrastructure | 109 | — | — | ||||||||
Securities firms | 613 | 10 | 1.6 | ||||||||
Other industries | 2,803 | 28 | 1.0 | ||||||||
Total classifiably managed loans(2) | $ | 284,527 | $ | 2,407 | 0.8 | % | |||||
Loans managed on a delinquency basis(3) | $ | 636 | $ | 8 | 1.3 | % | |||||
Total | $ | 285,163 | $ | 2,415 | 0.8 | % |
Sept. 30, | Jun. 30, | Mar. 31, | Dec. 31, | Sept. 30, | Jun. 30, | Mar. 31, | Dec. 31, | Sept. 30, | Jun. 30, | |||||||||||||||||||||||||
In millions of dollars | In millions of dollars | 2021 | 2021 | 2020 | In millions of dollars | 2022 | 2022 | 2021 | ||||||||||||||||||||||||||
Corporate non-accrual loans(1)(2) | ||||||||||||||||||||||||||||||||||
Corporate non-accrual loans by region(1)(2)(3) | Corporate non-accrual loans by region(1)(2)(3) | |||||||||||||||||||||||||||||||||
North America | North America | $ | 1,166 | $ | 1,154 | $ | 1,566 | $ | 1,928 | $ | 2,018 | North America | $ | 304 | $ | 462 | $ | 510 | $ | 923 | $ | 895 | ||||||||||||
EMEA | EMEA | 444 | 480 | 591 | 661 | 720 | EMEA | 712 | 688 | 367 | 407 | 447 | ||||||||||||||||||||||
Latin America | Latin America | 679 | 767 | 739 | 719 | 609 | Latin America | 563 | 631 | 568 | 679 | 767 | ||||||||||||||||||||||
Asia | Asia | 111 | 175 | 210 | 219 | 237 | Asia | 76 | 85 | 108 | 110 | 141 | ||||||||||||||||||||||
Total corporate non-accrual loans | $ | 2,400 | $ | 2,576 | $ | 3,106 | $ | 3,527 | $ | 3,584 | ||||||||||||||||||||||||
Consumer non-accrual loans | ||||||||||||||||||||||||||||||||||
North America | $ | 772 | $ | 879 | $ | 961 | $ | 1,059 | $ | 934 | ||||||||||||||||||||||||
Latin America | 549 | 612 | 720 | 774 | 493 | |||||||||||||||||||||||||||||
Asia(3) | 268 | 315 | 303 | 308 | 263 | |||||||||||||||||||||||||||||
Total consumer non-accrual loans | $ | 1,589 | $ | 1,806 | $ | 1,984 | $ | 2,141 | $ | 1,690 | ||||||||||||||||||||||||
Total | Total | $ | 1,655 | $ | 1,866 | $ | 1,553 | $ | 2,119 | $ | 2,250 | |||||||||||||||||||||||
Corporate non-accrual loans(1)(2)(3) | Corporate non-accrual loans(1)(2)(3) | |||||||||||||||||||||||||||||||||
Banking | Banking | $ | 1,015 | $ | 1,323 | $ | 1,239 | $ | 1,739 | $ | 1,852 | |||||||||||||||||||||||
Services | Services | 353 | 297 | 70 | 74 | 81 | ||||||||||||||||||||||||||||
Markets | Markets | 11 | 13 | 12 | 13 | 12 | ||||||||||||||||||||||||||||
Mexico SBMM | Mexico SBMM | 276 | 233 | 232 | 293 | 305 | ||||||||||||||||||||||||||||
Total | Total | $ | 1,655 | $ | 1,866 | $ | 1,553 | $ | 2,119 | $ | 2,250 | |||||||||||||||||||||||
Consumer non-accrual loans(1) | Consumer non-accrual loans(1) | |||||||||||||||||||||||||||||||||
Personal Banking and Global Wealth | Personal Banking and Global Wealth | $ | 536 | $ | 586 | $ | 680 | $ | 637 | $ | 711 | |||||||||||||||||||||||
Asia Consumer(4) | Asia Consumer(4) | 34 | 38 | 209 | 259 | 303 | ||||||||||||||||||||||||||||
Mexico Consumer | Mexico Consumer | 493 | 512 | 524 | 549 | 612 | ||||||||||||||||||||||||||||
Legacy Holdings Assets—Consumer | Legacy Holdings Assets—Consumer | 317 | 381 | 413 | 425 | 506 | ||||||||||||||||||||||||||||
Total | Total | $ | 1,380 | $ | 1,517 | $ | 1,826 | $ | 1,870 | $ | 2,132 | |||||||||||||||||||||||
Total non-accrual loans | Total non-accrual loans | $ | 3,989 | $ | 4,382 | $ | 5,090 | $ | 5,668 | $ | 5,274 | Total non-accrual loans | $ | 3,035 | $ | 3,383 | $ | 3,379 | $ | 3,989 | $ | 4,382 |
Three Months Ended | Three Months Ended | Three Months Ended | Three Months Ended | |||||||||||||||||||||||||||||||||||||
September 30, 2021 | September 30, 2020 | June 30, 2022 | June 30, 2021 | |||||||||||||||||||||||||||||||||||||
In millions of dollars | In millions of dollars | Corporate | Consumer | Total | Corporate | Consumer | Total | In millions of dollars | Corporate | Consumer | Total | Corporate | Consumer | Total | ||||||||||||||||||||||||||
Non-accrual loans at beginning of quarter | Non-accrual loans at beginning of quarter | $ | 2,576 | $ | 1,806 | $ | 4,382 | $ | 4,016 | $ | 1,829 | $ | 5,845 | Non-accrual loans at beginning of quarter | $ | 1,866 | $ | 1,517 | $ | 3,383 | $ | 2,716 | $ | 2,374 | $ | 5,090 | ||||||||||||||
Additions | Additions | 349 | 470 | 819 | 832 | 403 | 1,235 | Additions | 721 | 344 | 1,065 | 429 | 599 | 1,028 | ||||||||||||||||||||||||||
Sales and transfers to HFS | Sales and transfers to HFS | (26) | (56) | (82) | — | (42) | (42) | Sales and transfers to HFS | (5) | (36) | (41) | (439) | (135) | (574) | ||||||||||||||||||||||||||
Returned to performing | Returned to performing | (43) | (166) | (209) | (12) | (76) | (88) | Returned to performing | (120) | (77) | (197) | (112) | (174) | (286) | ||||||||||||||||||||||||||
Paydowns/settlements | Paydowns/settlements | (386) | (212) | (598) | (1,037) | (150) | (1,187) | Paydowns/settlements | (746) | (199) | (945) | (229) | (202) | (431) | ||||||||||||||||||||||||||
Charge-offs | Charge-offs | (47) | (227) | (274) | (158) | (303) | (461) | Charge-offs | (56) | (140) | (196) | (128) | (348) | (476) | ||||||||||||||||||||||||||
Other | Other | (23) | (26) | (49) | (57) | 29 | (28) | Other | (5) | (29) | (34) | 13 | 18 | 31 | ||||||||||||||||||||||||||
Ending balance | Ending balance | $ | 2,400 | $ | 1,589 | $ | 3,989 | $ | 3,584 | $ | 1,690 | $ | 5,274 | Ending balance | $ | 1,655 | $ | 1,380 | $ | 3,035 | $ | 2,250 | $ | 2,132 | $ | 4,382 | ||||||||||||||
Nine Months Ended | Nine Months Ended | Six Months Ended | Six Months Ended | |||||||||||||||||||||||||||||||||||||
September 30, 2021 | September 30, 2020 | June 30, 2022 | June 30, 2021 | |||||||||||||||||||||||||||||||||||||
In millions of dollars | In millions of dollars | Corporate | Consumer | Total | Corporate | Consumer | Total | In millions of dollars | Corporate | Consumer | Total | Corporate | Consumer | Total | ||||||||||||||||||||||||||
Non-accrual loans at beginning of year | Non-accrual loans at beginning of year | $ | 3,527 | $ | 2,141 | $ | 5,668 | $ | 2,188 | $ | 1,816 | $ | 4,004 | Non-accrual loans at beginning of year | $ | 1,553 | $ | 1,826 | $ | 3,379 | $ | 3,046 | $ | 2,622 | $ | 5,668 | ||||||||||||||
Additions | Additions | 1,342 | 1,678 | 3,020 | 4,062 | 1,993 | 6,055 | Additions | 1,541 | 643 | 2,184 | 904 | 1,297 | 2,201 | ||||||||||||||||||||||||||
Sales and transfers to HFS | Sales and transfers to HFS | (402) | (138) | (540) | (1) | (73) | (74) | Sales and transfers to HFS | (6) | (224) | (230) | (495) | (193) | (688) | ||||||||||||||||||||||||||
Returned to performing | Returned to performing | (101) | (518) | (619) | (129) | (280) | (409) | Returned to performing | (253) | (256) | (509) | (112) | (409) | (521) | ||||||||||||||||||||||||||
Paydowns/settlements | Paydowns/settlements | (1,761) | (532) | (2,293) | (2,193) | (583) | (2,776) | Paydowns/settlements | (1,069) | (295) | (1,364) | (778) | (376) | (1,154) | ||||||||||||||||||||||||||
Charge-offs | Charge-offs | (180) | (1,006) | (1,186) | (290) | (908) | (1,198) | Charge-offs | (105) | (295) | (400) | (317) | (797) | (1,114) | ||||||||||||||||||||||||||
Other | Other | (25) | (36) | (61) | (53) | (275) | (328) | Other | (6) | (19) | (25) | 2 | (12) | (10) | ||||||||||||||||||||||||||
Ending balance | Ending balance | $ | 2,400 | $ | 1,589 | $ | 3,989 | $ | 3,584 | $ | 1,690 | $ | 5,274 | Ending balance | $ | 1,655 | $ | 1,380 | $ | 3,035 | $ | 2,250 | $ | 2,132 | $ | 4,382 |
Sept. 30, | Jun. 30, | Mar. 31, | Dec. 31, | Sept. 30, | Jun. 30, | Mar. 31, | Dec. 31, | Sept. 30, | Jun. 30, | |||||||||||||||||||||||||
In millions of dollars | In millions of dollars | 2021 | 2021 | 2020 | In millions of dollars | 2022 | 2022 | 2021 | ||||||||||||||||||||||||||
OREO | OREO | OREO | ||||||||||||||||||||||||||||||||
North America | North America | $ | 10 | $ | 12 | $ | 14 | $ | 19 | $ | 22 | North America | $ | 7 | $ | 14 | $ | 15 | $ | 10 | $ | 12 | ||||||||||||
EMEA | EMEA | — | — | — | — | — | EMEA | — | — | — | — | — | ||||||||||||||||||||||
Latin America | Latin America | 10 | 11 | 10 | 7 | 8 | Latin America | 5 | 7 | 8 | 10 | 11 | ||||||||||||||||||||||
Asia | Asia | 1 | 10 | 19 | 17 | 12 | Asia | 1 | 5 | 4 | 1 | 10 | ||||||||||||||||||||||
Total OREO | Total OREO | $ | 21 | $ | 33 | $ | 43 | $ | 43 | $ | 42 | Total OREO | $ | 13 | $ | 26 | $ | 27 | $ | 21 | $ | 33 | ||||||||||||
Non-accrual assets | Non-accrual assets | Non-accrual assets | ||||||||||||||||||||||||||||||||
Corporate non-accrual loans | Corporate non-accrual loans | $ | 2,400 | $ | 2,576 | $ | 3,106 | $ | 3,527 | $ | 3,584 | Corporate non-accrual loans | $ | 1,655 | $ | 1,866 | $ | 1,553 | $ | 2,119 | $ | 2,250 | ||||||||||||
Consumer non-accrual loans | Consumer non-accrual loans | 1,589 | 1,806 | 1,984 | 2,141 | 1,690 | Consumer non-accrual loans | 1,380 | 1,517 | 1,826 | 1,870 | 2,132 | ||||||||||||||||||||||
Non-accrual loans (NAL) | Non-accrual loans (NAL) | $ | 3,989 | $ | 4,382 | $ | 5,090 | $ | 5,668 | $ | 5,274 | Non-accrual loans (NAL) | $ | 3,035 | $ | 3,383 | $ | 3,379 | $ | 3,989 | $ | 4,382 | ||||||||||||
OREO | OREO | $ | 21 | $ | 33 | $ | 43 | $ | 43 | $ | 42 | OREO | $ | 13 | $ | 26 | $ | 27 | $ | 21 | $ | 33 | ||||||||||||
Non-accrual assets (NAA) | Non-accrual assets (NAA) | $ | 4,010 | $ | 4,415 | $ | 5,133 | $ | 5,711 | $ | 5,316 | Non-accrual assets (NAA) | $ | 3,048 | $ | 3,409 | $ | 3,406 | $ | 4,010 | $ | 4,415 | ||||||||||||
NAL as a percentage of total loans | NAL as a percentage of total loans | 0.60 | % | 0.65 | % | 0.76 | % | 0.84 | % | 0.79 | % | NAL as a percentage of total loans | 0.46 | % | 0.51 | % | 0.51 | % | 0.60 | % | 0.65 | % | ||||||||||||
NAA as a percentage of total assets | NAA as a percentage of total assets | 0.17 | 0.19 | 0.22 | 0.25 | 0.24 | NAA as a percentage of total assets | 0.13 | 0.14 | 0.15 | 0.17 | 0.19 | ||||||||||||||||||||||
ACLL as a percentage of NAL(1) | ACLL as a percentage of NAL(1) | 444 | % | 439 | % | 425 | % | 440 | % | 501 | % | ACLL as a percentage of NAL(1) | 526 | % | 455 | % | 487 | % | 444 | % | 439 | % |
In millions of dollars | In millions of dollars | Sept. 30, 2021 | Dec. 31, 2020 | In millions of dollars | Jun. 30, 2022 | Dec. 31, 2021 | ||||||||||
Corporate renegotiated loans(1) | Corporate renegotiated loans(1) | Corporate renegotiated loans(1) | ||||||||||||||
In U.S. offices | In U.S. offices | In U.S. offices | ||||||||||||||
Commercial and industrial(2) | Commercial and industrial(2) | $ | 114 | $ | 193 | Commercial and industrial(2) | $ | 89 | $ | 103 | ||||||
Mortgage and real estate | Mortgage and real estate | 53 | 60 | Mortgage and real estate | 2 | 2 | ||||||||||
Financial institutions | Financial institutions | — | — | Financial institutions | — | — | ||||||||||
Other | Other | 31 | 30 | Other | 16 | 20 | ||||||||||
Total | Total | $ | 198 | $ | 283 | Total | $ | 107 | $ | 125 | ||||||
In offices outside the U.S. | In offices outside the U.S. | In offices outside the U.S. | ||||||||||||||
Commercial and industrial(2) | Commercial and industrial(2) | $ | 138 | $ | 132 | Commercial and industrial(2) | $ | 59 | $ | 133 | ||||||
Mortgage and real estate | Mortgage and real estate | 12 | 32 | Mortgage and real estate | 14 | 18 | ||||||||||
Financial institutions | Financial institutions | — | — | Financial institutions | — | — | ||||||||||
Other | Other | 20 | 3 | Other | 23 | 8 | ||||||||||
Total | Total | $ | 170 | $ | 167 | Total | $ | 96 | $ | 159 | ||||||
Total corporate renegotiated loans | Total corporate renegotiated loans | $ | 368 | $ | 450 | Total corporate renegotiated loans | $ | 203 | $ | 284 | ||||||
Consumer renegotiated loans(3) | Consumer renegotiated loans(3) | Consumer renegotiated loans(3) | ||||||||||||||
In U.S. offices | In U.S. offices | In U.S. offices | ||||||||||||||
Mortgage and real estate | Mortgage and real estate | $ | 1,455 | $ | 1,904 | Mortgage and real estate | $ | 1,309 | $ | 1,485 | ||||||
Cards | Cards | 1,340 | 1,449 | Cards | 1,153 | 1,269 | ||||||||||
Installment and other | Installment and other | 30 | 33 | Installment and other | 21 | 26 | ||||||||||
Total | Total | $ | 2,825 | $ | 3,386 | Total | $ | 2,483 | $ | 2,780 | ||||||
In offices outside the U.S. | In offices outside the U.S. | In offices outside the U.S. | ||||||||||||||
Mortgage and real estate | Mortgage and real estate | $ | 229 | $ | 361 | Mortgage and real estate | $ | 144 | $ | 227 | ||||||
Cards | Cards | 361 | 533 | Cards | 74 | 313 | ||||||||||
Installment and other | Installment and other | 437 | 519 | Installment and other | 106 | 428 | ||||||||||
Total | Total | $ | 1,027 | $ | 1,413 | Total | $ | 324 | $ | 968 | ||||||
Total consumer renegotiated loans | Total consumer renegotiated loans | $ | 3,852 | $ | 4,799 | Total consumer renegotiated loans | $ | 2,807 | $ | 3,748 |
Citibank | Citi non-bank and other entities | Total | |||||||||||||||||||||||||||
In billions of dollars | Sept. 30, 2021 | Jun. 30, 2021 | Sept. 30, 2020 | Sept. 30, 2021 | Jun. 30, 2021 | Sept. 30, 2020 | Sept. 30, 2021 | Jun. 30, 2021 | Sept. 30, 2020 | ||||||||||||||||||||
Available cash | $ | 255.1 | $ | 259.3 | $ | 279.3 | $ | 3.5 | $ | 2.8 | $ | 2.0 | $ | 258.5 | $ | 262.2 | $ | 281.3 | |||||||||||
U.S. sovereign | 108.9 | 91.1 | 80.6 | 64.3 | 61.5 | 56.0 | 173.2 | 152.6 | 136.6 | ||||||||||||||||||||
U.S. agency/agency MBS | 45.3 | 41.5 | 34.6 | 6.0 | 5.2 | 5.8 | 51.3 | 46.7 | 40.4 | ||||||||||||||||||||
Foreign government debt(1) | 50.2 | 47.2 | 44.5 | 11.2 | 12.0 | 17.0 | 61.4 | 59.2 | 61.5 | ||||||||||||||||||||
Other investment grade | 1.8 | 1.5 | 1.5 | 0.3 | 0.3 | 0.7 | 2.1 | 1.9 | 2.2 | ||||||||||||||||||||
Total HQLA (AVG) | $ | 461.2 | $ | 440.7 | $ | 440.5 | $ | 85.3 | $ | 81.8 | $ | 81.5 | $ | 546.5 | $ | 522.6 | $ | 522.0 |
Citibank | Citi non-bank and other entities | Total | |||||||||||||||||||||||||||
In billions of dollars | Jun. 30, 2022 | Mar. 31, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Mar. 31, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Mar. 31, 2022 | Jun. 30, 2021 | ||||||||||||||||||||
Available cash | $ | 188.1 | $ | 214.9 | $ | 259.3 | $ | 1.7 | $ | 2.2 | $ | 2.8 | $ | 189.8 | $ | 217.1 | $ | 262.2 | |||||||||||
U.S. sovereign | 149.4 | 139.7 | 91.1 | 55.4 | 57.5 | 61.5 | 204.8 | 197.2 | 152.6 | ||||||||||||||||||||
U.S. agency/agency MBS | 54.4 | 49.8 | 41.5 | 4.6 | 5.2 | 5.2 | 59.0 | 55.0 | 46.7 | ||||||||||||||||||||
Foreign government debt(1) | 60.4 | 53.8 | 47.2 | 13.9 | 13.8 | 12.0 | 74.3 | 67.6 | 59.2 | ||||||||||||||||||||
Other investment grade | 2.0 | 1.9 | 1.7 | 1.3 | 1.4 | 0.3 | 3.3 | 3.3 | 1.9 | ||||||||||||||||||||
Total HQLA (AVG) | $ | 454.3 | $ | 460.1 | $ | 440.8 | $ | 76.9 | $ | 80.1 | $ | 81.8 | $ | 531.2 | $ | 540.2 | $ | 522.6 |
In billions of dollars | In billions of dollars | Sept. 30, 2021 | Jun. 30, 2021 | Sept. 30, 2020 | In billions of dollars | Jun. 30, 2022 | Mar. 31, 2022 | Jun. 30, 2021 | ||||||||||||||
HQLA | HQLA | $ | 546.5 | $ | 522.6 | $ | 522.0 | HQLA | $ | 531.2 | $ | 540.2 | $ | 522.6 | ||||||||
Net outflows | Net outflows | 474.8 | 461.7 | 442.6 | Net outflows | 460.2 | 466.2 | 461.7 | ||||||||||||||
LCR | LCR | 115 | % | 113 | % | 118 | % | LCR | 115 | % | 116 | % | 113 | % | ||||||||
HQLA in excess of net outflows | HQLA in excess of net outflows | $ | 71.7 | $ | 60.9 | $ | 79.4 | HQLA in excess of net outflows | $ | 71.0 | $ | 74.0 | $ | 60.9 |
In billions of dollars | Sept. 30, 2021 | Jun. 30, 2021 | Sept. 30, 2020 | ||||||||
Global Consumer Banking | |||||||||||
North America | $ | 173.8 | $ | 171.9 | $ | 179.1 | |||||
Latin America | 13.2 | 13.5 | 13.6 | ||||||||
Asia(1) | 75.9 | 83.2 | 79.7 | ||||||||
Total | $ | 262.9 | $ | 268.6 | $ | 272.4 | |||||
Institutional Clients Group | |||||||||||
Corporate lending | $ | 129.2 | $ | 134.4 | $ | 166.1 | |||||
Treasury and trade solutions (TTS) | 73.7 | 71.6 | 67.1 | ||||||||
Private bank | 125.9 | 123.9 | 110.3 | ||||||||
Markets and securities services and other | 72.0 | 65.8 | 53.1 | ||||||||
Total | $ | 400.8 | $ | 395.8 | $ | 396.6 | |||||
Total Corporate/Other | $ | 4.7 | $ | 5.8 | $ | 8.2 | |||||
Total Citigroup loans (AVG) | $ | 668.5 | $ | 670.3 | $ | 677.2 | |||||
Total Citigroup loans (EOP) | $ | 664.8 | $ | 676.8 | $ | 666.9 |
In billions of dollars | 2Q22 | 1Q22 | 2Q21 | ||||||||
Personal Banking and Wealth Management | |||||||||||
U.S. Retail banking | $ | 34 | $ | 33 | $ | 35 | |||||
U.S. Cards | 133 | 128 | 122 | ||||||||
Global Wealth | 150 | 151 | 147 | ||||||||
Total | $ | 317 | $ | 312 | $ | 304 | |||||
Institutional Clients Group | |||||||||||
Services | $ | 85 | $ | 81 | $ | 74 | |||||
Banking | 199 | 194 | 197 | ||||||||
Markets | 13 | 14 | 16 | ||||||||
Total | $ | 297 | $ | 289 | $ | 287 | |||||
Total Legacy Franchises(1) | $ | 43 | $ | 48 | $ | 79 | |||||
Total Citigroup loans (AVG) | $ | 657 | $ | 649 | $ | 670 | |||||
Total Citigroup loans (EOP) | $ | 657 | $ | 660 | $ | 677 |
In billions of dollars | In billions of dollars | Sept. 30, 2021 | Jun. 30, 2021 | Sept. 30, 2020 | In billions of dollars | 2Q22 | 1Q22 | 2Q21 | ||||||||||||||
Global Consumer Banking(1) | ||||||||||||||||||||||
North America | $ | 208.4 | $ | 204.2 | $ | 182.1 | ||||||||||||||||
Latin America | 24.2 | 24.1 | 22.5 | |||||||||||||||||||
Asia(2) | 120.7 | 124.6 | 115.2 | |||||||||||||||||||
Personal Banking and Wealth Management | Personal Banking and Wealth Management | |||||||||||||||||||||
U.S. Personal Banking | U.S. Personal Banking | $ | 116 | $ | 118 | $ | 113 | |||||||||||||||
Global Wealth | Global Wealth | 319 | 329 | 297 | ||||||||||||||||||
Total | Total | $ | 353.3 | $ | 352.9 | $ | 319.8 | Total | $ | 435 | $ | 447 | $ | 410 | ||||||||
Institutional Clients Group | Institutional Clients Group | Institutional Clients Group | ||||||||||||||||||||
Treasury and trade solutions (TTS) | $ | 674.8 | $ | 659.3 | $ | 678.6 | ||||||||||||||||
Banking ex-TTS | 179.5 | 172.3 | 150.1 | |||||||||||||||||||
Markets and securities services | 127.2 | 127.6 | 107.9 | |||||||||||||||||||
TTS | TTS | $ | 665 | $ | 664 | $ | 652 | |||||||||||||||
Securities services | Securities services | 137 | 135 | 137 | ||||||||||||||||||
Markets | Markets | 28 | 27 | 29 | ||||||||||||||||||
Total | Total | $ | 981.6 | $ | 959.2 | $ | 936.6 | Total | $ | 830 | $ | 826 | $ | 818 | ||||||||
Legacy Franchises(1) | Legacy Franchises(1) | $ | 51 | $ | 55 | $ | 85 | |||||||||||||||
Corporate/Other | Corporate/Other | $ | 8.2 | $ | 9.1 | $ | 11.4 | Corporate/Other | $ | 7 | $ | 6 | $ | 8 | ||||||||
Total Citigroup deposits (AVG) | Total Citigroup deposits (AVG) | $ | 1,343.0 | $ | 1,321.3 | $ | 1,267.8 | Total Citigroup deposits (AVG) | $ | 1,323 | $ | 1,334 | $ | 1,321 | ||||||||
Total Citigroup deposits (EOP) | Total Citigroup deposits (EOP) | $ | 1,347.5 | $ | 1,310.3 | $ | 1,262.6 | Total Citigroup deposits (EOP) | $ | 1,322 | $ | 1,334 | $ | 1,310 |
In billions of dollars | In billions of dollars | Sept. 30, 2021 | Jun. 30, 2021 | Sept. 30, 2020 | In billions of dollars | Jun. 30, 2022 | Mar. 31, 2022 | Jun. 30, 2021 | ||||||||||||||
Non-bank(1) | Non-bank(1) | Non-bank(1) | ||||||||||||||||||||
Benchmark debt: | Benchmark debt: | Benchmark debt: | ||||||||||||||||||||
Senior debt | Senior debt | $ | 123.9 | $ | 127.8 | $ | 126.3 | Senior debt | $ | 120.3 | $ | 122.2 | $ | 127.8 | ||||||||
Subordinated debt | Subordinated debt | 26.0 | 26.2 | 27.4 | Subordinated debt | 24.0 | 24.7 | 26.2 | ||||||||||||||
Trust preferred | Trust preferred | 1.7 | 1.7 | 1.7 | Trust preferred | 1.6 | 1.6 | 1.7 | ||||||||||||||
Customer-related debt | Customer-related debt | 74.7 | 73.9 | 61.0 | Customer-related debt | 84.9 | 78.4 | 73.9 | ||||||||||||||
Local country and other(2) | Local country and other(2) | 7.2 | 6.3 | 8.1 | Local country and other(2) | 7.8 | 7.8 | 6.3 | ||||||||||||||
Total non-bank | Total non-bank | $ | 233.6 | $ | 235.9 | $ | 224.5 | Total non-bank | $ | 238.6 | $ | 234.7 | $ | 235.9 | ||||||||
Bank | Bank | Bank | ||||||||||||||||||||
FHLB borrowings | FHLB borrowings | $ | 5.8 | $ | 9.5 | $ | 14.7 | FHLB borrowings | $ | 2.3 | $ | 1.0 | $ | 9.5 | ||||||||
Securitizations(3) | Securitizations(3) | 11.0 | 11.6 | 16.4 | Securitizations(3) | 9.5 | 9.5 | 11.6 | ||||||||||||||
Citibank benchmark senior debt | Citibank benchmark senior debt | 3.6 | 3.7 | 14.2 | Citibank benchmark senior debt | 2.6 | 3.5 | 3.7 | ||||||||||||||
Local country and other(2) | Local country and other(2) | 4.3 | 3.9 | 3.5 | Local country and other(2) | 4.4 | 5.3 | 3.9 | ||||||||||||||
Total bank | Total bank | $ | 24.7 | $ | 28.7 | $ | 48.8 | Total bank | $ | 18.8 | $ | 19.3 | $ | 28.7 | ||||||||
Total long-term debt | Total long-term debt | $ | 258.3 | $ | 264.6 | $ | 273.3 | Total long-term debt | $ | 257.4 | $ | 254.0 | $ | 264.6 |
3Q21 | 2Q21 | 3Q20 | 2Q22 | 1Q22 | 2Q21 | |||||||||||||||||||||||||||||||||||
In billions of dollars | In billions of dollars | Maturities | Issuances | Maturities | Issuances | Maturities | Issuances | In billions of dollars | Maturities | Issuances | Maturities | Issuances | Maturities | Issuances | ||||||||||||||||||||||||||
Non-bank | Non-bank | Non-bank | ||||||||||||||||||||||||||||||||||||||
Benchmark debt: | Benchmark debt: | Benchmark debt: | ||||||||||||||||||||||||||||||||||||||
Senior debt | Senior debt | $ | 2.8 | $ | 0.3 | $ | 1.8 | $ | 8.7 | $ | 1.4 | $ | — | Senior debt | $ | 3.5 | $ | 6.0 | $ | 4.4 | $ | 13.8 | $ | 1.8 | $ | 8.7 | ||||||||||||||
Subordinated debt | Subordinated debt | — | — | — | — | — | — | Subordinated debt | — | — | — | — | — | — | ||||||||||||||||||||||||||
Trust preferred | Trust preferred | — | — | — | — | — | — | Trust preferred | — | — | 0.1 | — | — | — | ||||||||||||||||||||||||||
Customer-related debt | Customer-related debt | 6.9 | 9.8 | 8.5 | 15.4 | 6.6 | 6.2 | Customer-related debt | 5.0 | 21.8 | 7.5 | 14.5 | 8.5 | 15.4 | ||||||||||||||||||||||||||
Local country and other | Local country and other | 0.6 | 1.3 | 1.0 | 1.5 | 0.1 | 0.4 | Local country and other | 0.3 | 0.4 | 0.4 | 0.9 | 1.0 | 1.5 | ||||||||||||||||||||||||||
Total non-bank | Total non-bank | $ | 10.3 | $ | 11.4 | $ | 11.3 | $ | 25.6 | $ | 8.1 | $ | 6.6 | Total non-bank | $ | 8.8 | $ | 28.2 | $ | 12.4 | $ | 29.2 | $ | 11.3 | $ | 25.6 | ||||||||||||||
Bank | Bank | Bank | ||||||||||||||||||||||||||||||||||||||
FHLB borrowings | FHLB borrowings | $ | 3.8 | $ | — | $ | 1.4 | $ | — | $ | 0.3 | $ | — | FHLB borrowings | $ | 1.0 | $ | 2.3 | $ | 4.3 | $ | — | $ | 1.4 | $ | — | ||||||||||||||
Securitizations | Securitizations | — | — | 1.2 | — | 1.2 | — | Securitizations | — | — | — | — | 1.2 | — | ||||||||||||||||||||||||||
Citibank benchmark senior debt | Citibank benchmark senior debt | — | — | 5.5 | — | 2.1 | — | Citibank benchmark senior debt | 0.9 | — | — | — | 5.5 | — | ||||||||||||||||||||||||||
Local country and other | Local country and other | 0.5 | 1.1 | 0.1 | 0.4 | 3.5 | 0.4 | Local country and other | 0.6 | 0.1 | 0.4 | 0.5 | 0.1 | 0.4 | ||||||||||||||||||||||||||
Total bank | Total bank | $ | 4.3 | $ | 1.1 | $ | 8.2 | $ | 0.4 | $ | 7.1 | $ | 0.4 | Total bank | $ | 2.5 | $ | 2.4 | $ | 4.7 | $ | 0.5 | $ | 8.2 | $ | 0.4 | ||||||||||||||
Total | Total | $ | 14.6 | $ | 12.4 | $ | 19.5 | $ | 26.0 | $ | 15.2 | $ | 7.0 | Total | $ | 11.3 | $ | 30.6 | $ | 17.1 | $ | 29.7 | $ | 19.5 | $ | 26.0 |
2021 YTD | Maturities | 2022 YTD | Maturities | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
In billions of dollars | In billions of dollars | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Thereafter | Total | In billions of dollars | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | Thereafter | Total | ||||||||||||||||||||||||||||||||||||||||
Non-bank | Non-bank | Non-bank | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Benchmark debt: | Benchmark debt: | Benchmark debt: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Senior debt | Senior debt | $ | 8.9 | $ | 5.6 | $ | 11.4 | $ | 12.7 | $ | 11.1 | $ | 9.9 | $ | 18.5 | $ | 54.8 | $ | 123.9 | Senior debt | $ | 7.9 | $ | 2.2 | $ | 10.1 | $ | 10.6 | $ | 12.0 | $ | 21.2 | $ | 7.0 | $ | 57.2 | $ | 120.3 | ||||||||||||||||||||
Subordinated debt | Subordinated debt | — | — | 0.8 | 1.3 | 1.0 | 5.2 | 2.6 | 15.0 | 26.0 | Subordinated debt | — | 0.9 | 1.2 | 0.9 | 4.9 | 2.5 | 3.8 | 9.9 | 24.0 | ||||||||||||||||||||||||||||||||||||||
Trust preferred | Trust preferred | — | — | — | — | — | — | — | 1.7 | 1.7 | Trust preferred | 0.1 | — | — | — | — | — | — | 1.6 | 1.6 | ||||||||||||||||||||||||||||||||||||||
Customer-related debt | Customer-related debt | 24.0 | 1.7 | 11.2 | 8.7 | 8.0 | 4.8 | 4.5 | 35.8 | 74.7 | Customer-related debt | 12.5 | 5.0 | 13.6 | 14.3 | 9.3 | 5.3 | 5.7 | 31.7 | 84.9 | ||||||||||||||||||||||||||||||||||||||
Local country and other | Local country and other | 3.0 | 0.6 | 1.9 | 2.2 | — | — | 0.7 | 1.8 | 7.2 | Local country and other | 0.7 | 1.7 | 2.8 | — | — | 0.7 | — | 2.6 | 7.8 | ||||||||||||||||||||||||||||||||||||||
Total non-bank | Total non-bank | $ | 35.9 | $ | 7.9 | $ | 25.2 | $ | 24.9 | $ | 20.2 | $ | 20.0 | $ | 26.3 | $ | 109.1 | $ | 233.6 | Total non-bank | $ | 21.2 | $ | 9.8 | $ | 27.7 | $ | 25.8 | $ | 26.2 | $ | 29.7 | $ | 16.5 | $ | 103.0 | $ | 238.6 | ||||||||||||||||||||
Bank | Bank | Bank | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
FHLB borrowings | FHLB borrowings | $ | 5.2 | $ | 0.5 | $ | 5.3 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 5.8 | FHLB borrowings | $ | 5.3 | $ | — | $ | 2.3 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 2.3 | ||||||||||||||||||||
Securitizations | Securitizations | 4.8 | 1.3 | 2.1 | 3.4 | 1.2 | 0.4 | — | 2.6 | 11.0 | Securitizations | — | 2.1 | 3.3 | 1.4 | 0.4 | — | 0.8 | 1.5 | 9.5 | ||||||||||||||||||||||||||||||||||||||
Citibank benchmark senior debt | Citibank benchmark senior debt | 9.8 | — | 0.9 | — | 2.7 | — | — | — | 3.6 | Citibank benchmark senior debt | 0.9 | — | — | 2.6 | — | — | — | — | 2.6 | ||||||||||||||||||||||||||||||||||||||
Local country and other | Local country and other | 0.8 | 0.7 | 1.4 | 0.6 | 1.0 | 0.1 | — | 0.5 | 4.3 | Local country and other | 1.0 | 0.9 | 0.6 | 1.2 | 0.1 | — | — | 1.5 | 4.4 | ||||||||||||||||||||||||||||||||||||||
Total bank | Total bank | $ | 20.5 | $ | 2.5 | $ | 9.7 | $ | 4.0 | $ | 4.9 | $ | 0.5 | $ | — | $ | 3.1 | $ | 24.7 | Total bank | $ | 7.2 | $ | 3.0 | $ | 6.2 | $ | 5.2 | $ | 0.5 | $ | — | $ | 0.8 | $ | 3.0 | $ | 18.8 | ||||||||||||||||||||
Total long-term debt | Total long-term debt | $ | 56.5 | $ | 10.4 | $ | 34.9 | $ | 28.9 | $ | 25.1 | $ | 20.5 | $ | 26.3 | $ | 112.2 | $ | 258.3 | Total long-term debt | $ | 28.4 | $ | 12.8 | $ | 33.9 | $ | 31.0 | $ | 26.7 | $ | 29.7 | $ | 17.3 | $ | 106.0 | $ | 257.4 |
Citigroup Inc. | Citibank, N.A. | |||||||||||||||||||
Senior debt | Commercial paper | Outlook | Long- term | Short- term | Outlook | |||||||||||||||
Fitch Ratings (Fitch) | A | F1 | Stable | A+ | F1 | Stable | ||||||||||||||
Moody’s Investors Service (Moody’s) | A3 | P-2 | Stable | Aa3 | P-1 | Stable | ||||||||||||||
BBB+ | A-2 | Stable | A+ | A-1 | Stable |
In millions of dollars, except as otherwise noted | In millions of dollars, except as otherwise noted | Sept. 30, 2021 | Jun. 30, 2021 | Sept. 30, 2020 | In millions of dollars, except as otherwise noted | Jun. 30, 2022 | Mar. 31, 2022 | Jun. 30, 2021 | ||||||||||||||
Estimated annualized impact to net interest revenue | ||||||||||||||||||||||
Estimated annualized impact to net interest income | Estimated annualized impact to net interest income | |||||||||||||||||||||
U.S. dollar(1) | U.S. dollar(1) | $ | 151 | $ | 156 | $ | 65 | U.S. dollar(1) | $ | 332 | $ | 482 | $ | 156 | ||||||||
All other currencies | All other currencies | 586 | 624 | 702 | All other currencies | 693 | 705 | 624 | ||||||||||||||
Total | Total | $ | 737 | $ | 780 | $ | 767 | Total | $ | 1,025 | $ | 1,187 | $ | 780 | ||||||||
As a percentage of average interest-earning assets | As a percentage of average interest-earning assets | 0.03 | % | 0.04 | % | 0.04 | % | As a percentage of average interest-earning assets | 0.05 | % | 0.05 | % | 0.04 | % | ||||||||
Estimated initial negative impact to AOCI (after-tax)(2) | Estimated initial negative impact to AOCI (after-tax)(2) | $ | (4,914) | $ | (4,953) | $ | (5,757) | Estimated initial negative impact to AOCI (after-tax)(2) | $ | (2,522) | $ | (3,439) | $ | (4,953) | ||||||||
Estimated initial impact on Common Equity Tier 1 Capital ratio (bps) | Estimated initial impact on Common Equity Tier 1 Capital ratio (bps) | (30) | (30) | (36) | Estimated initial impact on Common Equity Tier 1 Capital ratio (bps) | (10) | (18) | (30) |
In millions of dollars, except as otherwise noted | Scenario 1 | Scenario 2 | Scenario 3 | Scenario 4 | Scenario 5 | ||||||||||||
Overnight rate change (bps) | 100 | 100 | — | — | (100) | ||||||||||||
10-year rate change (bps) | 100 | — | 100 | (100) | (100) | ||||||||||||
Estimated annualized impact to net interest revenue | |||||||||||||||||
U.S. dollar | $ | 151 | $ | 206 | $ | 77 | $ | (282) | $ | (442) | |||||||
All other currencies | 586 | 620 | 38 | (38) | (323) | ||||||||||||
Total | $ | 737 | $ | 826 | $ | 115 | $ | (320) | $ | (765) | |||||||
Estimated initial impact to AOCI (after-tax)(1) | $ | (4,914) | $ | (3,191) | $ | (2,019) | $ | 1,532 | $ | 3,076 | |||||||
Estimated initial impact to Common Equity Tier 1 Capital ratio (bps) | (30) | (19) | (13) | 10 | 16 |
In millions of dollars, except as otherwise noted | Scenario 1 | Scenario 2 | Scenario 3 | Scenario 4 | Scenario 5 | ||||||||||||
Overnight rate change (bps) | 100 | 100 | — | — | (100) | ||||||||||||
10-year rate change (bps) | 100 | — | 100 | (100) | (100) | ||||||||||||
Estimated annualized impact to net interest income | |||||||||||||||||
U.S. dollar | $ | 332 | $ | 345 | $ | 5 | $ | (1) | $ | (538) | |||||||
All other currencies | 693 | 633 | 38 | (38) | (533) | ||||||||||||
Total | $ | 1,025 | $ | 978 | $ | 43 | $ | (39) | $ | (1,071) | |||||||
Estimated initial impact to AOCI (after-tax)(1) | $ | (2,522) | $ | (1,979) | $ | (627) | $ | 484 | $ | 2,416 | |||||||
Estimated initial impact to Common Equity Tier 1 Capital ratio (bps) | (10) | (8) | (3) | 2 | 9 |
For the quarter ended | |||||||||||
In millions of dollars, except as otherwise noted | Sept. 30, 2021 | Jun. 30, 2021 | Sept. 30, 2020 | ||||||||
Change in FX spot rate(1) | (2.7) | % | 1.1 | % | 2.6 | % | |||||
Change in TCE due to FX translation, net of hedges | $ | (1,042) | $ | 364 | $ | 655 | |||||
As a percentage of TCE | (0.7) | % | 0.2 | % | 0.4 | % | |||||
Estimated impact to Common Equity Tier 1 Capital ratio (on a fully implemented basis) due to changes in FX translation, net of hedges (bps) | (1) | — | (1.0) |
For the quarter ended | |||||||||||
In millions of dollars, except as otherwise noted | Jun. 30, 2022 | Mar. 31, 2022 | Jun. 30, 2021 | ||||||||
Change in FX spot rate(1) | (4.9) | % | 0.1 | % | 1.1 | % | |||||
Change in TCE due to FX translation, net of hedges | $ | (1,335) | $ | (40) | $ | 364 | |||||
As a percentage of TCE | (0.9) | % | — | % | 0.2 | % | |||||
Estimated impact to Common Equity Tier 1 Capital ratio (on a fully implemented basis) due to changes in FX translation, net of hedges (bps) | 5 | 1 | — |
3rd Qtr. | 2nd Qtr. | 3rd Qtr. | Change | 2nd Qtr. | 1st Qtr. | 2nd Qtr. | Change | |||||||||||||||||||||||||||||||||||||||||||||
In millions of dollars, except as otherwise noted | In millions of dollars, except as otherwise noted | 2021 | 2021 | 2020 | 3Q21 vs. 3Q20 | In millions of dollars, except as otherwise noted | 2022 | 2022 | 2021 | 2Q22 vs. 2Q21 | ||||||||||||||||||||||||||||||||||||||||||
Interest revenue(1) | Interest revenue(1) | $ | 12,696 | $ | 12,514 | $ | 13,373 | (5) | % | Interest revenue(1) | $ | 15,674 | $ | 13,193 | $ | 12,514 | 25 | % | ||||||||||||||||||||||||||||||||||
Interest expense(2) | Interest expense(2) | 2,252 | 2,264 | 2,821 | (20) | Interest expense(2) | 3,666 | 2,280 | 1,985 | 85 | ||||||||||||||||||||||||||||||||||||||||||
Net interest revenue, taxable equivalent basis(1) | $ | 10,444 | $ | 10,250 | $ | 10,552 | (1) | % | ||||||||||||||||||||||||||||||||||||||||||||
Net interest income, taxable equivalent basis(1) | Net interest income, taxable equivalent basis(1) | $ | 12,008 | $ | 10,913 | $ | 10,529 | 14 | % | |||||||||||||||||||||||||||||||||||||||||||
Interest revenue—average rate(3) | Interest revenue—average rate(3) | 2.35 | % | 2.34 | % | 2.57 | % | (22) | bps | Interest revenue—average rate(3) | 2.92 | % | 2.47 | % | 2.34 | % | 58 | bps | ||||||||||||||||||||||||||||||||||
Interest expense—average rate | Interest expense—average rate | 0.52 | 0.53 | 0.67 | (15) | bps | Interest expense—average rate | 0.85 | 0.54 | 0.46 | 39 | bps | ||||||||||||||||||||||||||||||||||||||||
Net interest margin(3)(4) | Net interest margin(3)(4) | 1.93 | 1.92 | 2.03 | (10) | bps | Net interest margin(3)(4) | 2.24 | 2.05 | 1.97 | 27 | bps | ||||||||||||||||||||||||||||||||||||||||
Interest-rate benchmarks | Interest-rate benchmarks | Interest-rate benchmarks | ||||||||||||||||||||||||||||||||||||||||||||||||||
Two-year U.S. Treasury note—average rate | Two-year U.S. Treasury note—average rate | 0.23 | % | 0.17 | % | 0.14 | % | 9 | bps | Two-year U.S. Treasury note—average rate | 2.72 | % | 1.46 | % | 0.17 | % | 255 | bps | ||||||||||||||||||||||||||||||||||
10-year U.S. Treasury note—average rate | 10-year U.S. Treasury note—average rate | 1.32 | 1.59 | 0.65 | 67 | bps | 10-year U.S. Treasury note—average rate | 2.93 | 1.95 | 1.59 | 134 | bps | ||||||||||||||||||||||||||||||||||||||||
10-year vs. two-year spread | 10-year vs. two-year spread | 109 | bps | 142 | bps | 51 | bps | 10-year vs. two-year spread | 21 | bps | 49 | bps | 142 | bps |
3rd Qtr. | 2nd Qtr. | 3rd Qtr. | Change | |||||||||||
In millions of dollars | 2021 | 2021 | 2020 | 3Q21 vs. 3Q20 | ||||||||||
Net interest revenue (NIR)—taxable equivalent basis(1) per above | $ | 10,444 | $ | 10,250 | $ | 10,552 | (1) | % | ||||||
ICG Markets NIR—taxable equivalent basis(1) | 1,331 | 1,453 | 1,413 | (6) | ||||||||||
Non-ICG Markets NIR—taxable equivalent basis(1) | $ | 9,113 | $ | 8,797 | $ | 9,139 | — | % |
2nd Qtr. | 1st Qtr. | 2nd Qtr. | Change | |||||||||||
In millions of dollars | 2022 | 2022 | 2021 | 2Q22 vs. 2Q21 | ||||||||||
Net interest income (NII)—taxable equivalent basis(1) per above | $ | 12,008 | $ | 10,913 | $ | 10,529 | 14 | % | ||||||
ICG Markets NII—taxable equivalent basis(1) | 1,386 | 1,111 | 1,381 | — | ||||||||||
Non-ICG Markets NII—taxable equivalent basis(1) | $ | 10,622 | $ | 9,802 | $ | 9,148 | 16 | % |
Quarterly—Assets | Average volume | Interest revenue | % Average rate | ||||||||||||||||||||||||||
3rd Qtr. | 2nd Qtr. | 3rd Qtr. | 3rd Qtr. | 2nd Qtr. | 3rd Qtr. | 3rd Qtr. | 2nd Qtr. | 3rd Qtr. | |||||||||||||||||||||
In millions of dollars, except rates | 2021 | 2021 | 2020 | 2021 | 2021 | 2020 | 2021 | 2021 | 2020 | ||||||||||||||||||||
Deposits with banks(4) | $ | 294,160 | $ | 296,445 | $ | 307,845 | $ | 147 | $ | 126 | $ | 116 | 0.20 | % | 0.17 | % | 0.15 | % | |||||||||||
Securities borrowed and purchased under agreements to resell(5) | |||||||||||||||||||||||||||||
In U.S. offices | $ | 176,926 | $ | 171,568 | $ | 153,513 | $ | 70 | $ | 85 | $ | 153 | 0.16 | % | 0.20 | % | 0.40 | % | |||||||||||
In offices outside the U.S.(4) | 146,257 | 148,253 | 141,436 | 194 | 120 | 199 | 0.53 | 0.32 | 0.56 | ||||||||||||||||||||
Total | $ | 323,183 | $ | 319,821 | $ | 294,949 | $ | 264 | $ | 205 | $ | 352 | 0.32 | % | 0.26 | % | 0.47 | % | |||||||||||
Trading account assets(6)(7) | |||||||||||||||||||||||||||||
In U.S. offices | $ | 133,649 | $ | 142,471 | $ | 144,268 | $ | 665 | $ | 579 | $ | 861 | 1.97 | % | 1.63 | % | 2.37 | % | |||||||||||
In offices outside the U.S.(4) | 154,993 | 159,670 | 140,765 | 620 | 893 | 597 | 1.59 | 2.24 | 1.69 | ||||||||||||||||||||
Total | $ | 288,642 | $ | 302,141 | $ | 285,033 | $ | 1,285 | $ | 1,472 | $ | 1,458 | 1.77 | % | 1.95 | % | 2.03 | % | |||||||||||
Investments | |||||||||||||||||||||||||||||
In U.S. offices | |||||||||||||||||||||||||||||
Taxable | $ | 332,337 | $ | 320,206 | $ | 282,024 | $ | 935 | $ | 867 | $ | 877 | 1.12 | % | 1.09 | % | 1.24 | % | |||||||||||
Exempt from U.S. income tax | 11,973 | 12,613 | 14,166 | 99 | 114 | 126 | 3.28 | 3.63 | 3.54 | ||||||||||||||||||||
In offices outside the U.S.(4) | 153,802 | 151,419 | 142,596 | 873 | 863 | 899 | 2.25 | 2.29 | 2.51 | ||||||||||||||||||||
Total | $ | 498,112 | $ | 484,238 | $ | 438,786 | $ | 1,907 | $ | 1,844 | $ | 1,902 | 1.52 | % | 1.53 | % | 1.72 | % | |||||||||||
Loans (net of unearned income)(8) | |||||||||||||||||||||||||||||
In U.S. offices | $ | 388,415 | $ | 382,708 | $ | 389,831 | $ | 6,035 | $ | 5,800 | $ | 6,316 | 6.16 | % | 6.08 | % | 6.45 | % | |||||||||||
In offices outside the U.S.(4) | 280,072 | 287,572 | 287,369 | 2,862 | 2,956 | 3,130 | 4.05 | 4.12 | 4.33 | ||||||||||||||||||||
Total | $ | 668,487 | $ | 670,280 | $ | 677,200 | $ | 8,897 | $ | 8,756 | $ | 9,446 | 5.28 | % | 5.24 | % | 5.55 | % | |||||||||||
Other interest-earning assets(9) | $ | 71,193 | $ | 69,691 | $ | 63,577 | $ | 196 | $ | 111 | $ | 99 | 1.09 | % | 0.64 | % | 0.62 | % | |||||||||||
Total interest-earning assets | $ | 2,143,777 | $ | 2,142,616 | $ | 2,067,390 | $ | 12,696 | $ | 12,514 | $ | 13,373 | 2.35 | % | 2.34 | % | 2.57 | % | |||||||||||
Non-interest-earning assets(6) | $ | 202,248 | $ | 199,194 | $ | 192,082 | |||||||||||||||||||||||
Total assets | $ | 2,346,025 | $ | 2,341,810 | $ | 2,259,472 | |||||||||||||||||||||||
Quarterly—Assets | Average volume | Interest revenue | % Average rate | ||||||||||||||||||||||||||
2nd Qtr. | 1st Qtr. | 2nd Qtr. | 2nd Qtr. | 1st Qtr. | 2nd Qtr. | 2nd Qtr. | 1st Qtr. | 2nd Qtr. | |||||||||||||||||||||
In millions of dollars, except rates | 2022 | 2022 | 2021 | 2022 | 2022 | 2021 | 2022 | 2022 | 2021 | ||||||||||||||||||||
Deposits with banks(4) | $ | 227,377 | $ | 260,536 | $ | 296,445 | $ | 658 | $ | 296 | $ | 126 | 1.16 | % | 0.46 | % | 0.17 | % | |||||||||||
Securities borrowed and purchased under agreements to resell(5) | |||||||||||||||||||||||||||||
In U.S. offices | $ | 190,065 | $ | 177,996 | $ | 171,568 | $ | 458 | $ | 109 | $ | 85 | 0.97 | % | 0.25 | % | 0.20 | % | |||||||||||
In offices outside the U.S.(4) | 159,455 | 165,640 | 148,253 | 347 | 285 | 120 | 0.87 | 0.70 | 0.32 | ||||||||||||||||||||
Total | $ | 349,520 | $ | 343,636 | $ | 319,821 | $ | 805 | $ | 394 | $ | 205 | 0.92 | % | 0.46 | % | 0.26 | % | |||||||||||
Trading account assets(6)(7) | |||||||||||||||||||||||||||||
In U.S. offices | $ | 139,087 | $ | 136,857 | $ | 142,471 | $ | 632 | $ | 592 | $ | 579 | 1.82 | % | 1.75 | % | 1.63 | % | |||||||||||
In offices outside the U.S.(4) | 136,850 | 133,603 | 159,670 | 1,030 | 556 | 893 | 3.02 | 1.69 | 2.24 | ||||||||||||||||||||
Total | $ | 275,937 | $ | 270,460 | $ | 302,141 | $ | 1,662 | $ | 1,148 | $ | 1,472 | 2.42 | % | 1.72 | % | 1.95 | % | |||||||||||
Investments | |||||||||||||||||||||||||||||
In U.S. offices | |||||||||||||||||||||||||||||
Taxable | $ | 357,249 | $ | 353,906 | $ | 320,206 | $ | 1,132 | $ | 1,021 | $ | 867 | 1.27 | % | 1.17 | % | 1.09 | % | |||||||||||
Exempt from U.S. income tax | 11,898 | 11,612 | 12,613 | 108 | 95 | 114 | 3.64 | 3.32 | 3.63 | ||||||||||||||||||||
In offices outside the U.S.(4) | 150,435 | 153,302 | 151,419 | 1,147 | 951 | 863 | 3.06 | 2.52 | 2.29 | ||||||||||||||||||||
Total | $ | 519,582 | $ | 518,820 | $ | 484,238 | $ | 2,387 | $ | 2,067 | $ | 1,844 | 1.84 | % | 1.62 | % | 1.53 | % | |||||||||||
Consumer loans(8) | |||||||||||||||||||||||||||||
In U.S. offices | $ | 264,240 | $ | 257,257 | $ | 250,526 | $ | 5,348 | $ | 5,045 | $ | 4,785 | 8.12 | % | 7.95 | % | 7.66 | % | |||||||||||
In offices outside the U.S.(4) | 88,291 | 94,973 | 126,605 | 1,253 | 1,217 | 1,736 | 5.69 | 5.20 | 5.50 | ||||||||||||||||||||
Total | $ | 352,531 | $ | 352,230 | $ | 377,131 | $ | 6,601 | $ | 6,262 | $ | 6,521 | 7.51 | % | 7.21 | % | 6.94 | % | |||||||||||
Corporate loans(8) | |||||||||||||||||||||||||||||
In U.S. offices | $ | 142,180 | $ | 136,876 | $ | 132,182 | $ | 1,285 | $ | 1,112 | $ | 1,015 | 3.63 | % | 3.29 | % | 3.08 | % | |||||||||||
In offices outside the U.S.(4) | 162,776 | 159,470 | 160,967 | 1,632 | 1,365 | 1,220 | 4.02 | 3.47 | 3.04 | ||||||||||||||||||||
Total | $ | 304,956 | $ | 296,346 | $ | 293,149 | $ | 2,917 | $ | 2,477 | $ | 2,235 | 3.84 | % | 3.39 | % | 3.06 | % | |||||||||||
Total loans(8) | |||||||||||||||||||||||||||||
In U.S. offices | $ | 406,420 | $ | 394,133 | $ | 382,708 | $ | 6,633 | $ | 6,157 | $ | 5,800 | 6.55 | % | 6.34 | % | 6.08 | % | |||||||||||
In offices outside the U.S.(4) | 251,067 | 254,443 | 287,572 | 2,885 | 2,582 | 2,956 | 4.61 | 4.12 | 4.12 | ||||||||||||||||||||
Total | $ | 657,487 | $ | 648,576 | $ | 670,280 | $ | 9,518 | $ | 8,739 | $ | 8,756 | 5.81 | % | 5.46 | % | 5.24 | % | |||||||||||
Other interest-earning assets(9) | $ | 121,629 | $ | 119,815 | $ | 69,691 | $ | 644 | $ | 549 | $ | 111 | 2.12 | % | 1.86 | % | 0.64 | % | |||||||||||
Total interest-earning assets | $ | 2,151,532 | $ | 2,161,843 | $ | 2,142,616 | $ | 15,674 | $ | 13,193 | $ | 12,514 | 2.92 | % | 2.47 | % | 2.34 | % | |||||||||||
Non-interest-earning assets(6) | $ | 228,521 | $ | 212,197 | $ | 199,194 | |||||||||||||||||||||||
Total assets | $ | 2,380,053 | $ | 2,374,040 | $ | 2,341,810 | |||||||||||||||||||||||
Nine Months—Assets | Average volume | Interest revenue | % Average rate | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Six Months—Assets | Six Months—Assets | Average volume | Interest revenue | % Average rate | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Nine Months | Nine Months | Nine Months | Nine Months | Nine Months | Nine Months | Six Months | Six Months | Six Months | Six Months | Six Months | Six Months | |||||||||||||||||||||||||||||||||||||||||||||||
In millions of dollars, except rates | In millions of dollars, except rates | 2021 | 2020 | 2021 | 2020 | 2021 | 2020 | In millions of dollars, except rates | 2022 | 2021 | 2022 | 2021 | 2022 | 2021 | ||||||||||||||||||||||||||||||||||||||||||||
Deposits with banks(4) | Deposits with banks(4) | $ | 299,315 | $ | 273,487 | $ | 418 | $ | 802 | 0.19 | % | 0.39 | % | Deposits with banks(4) | $ | 243,957 | $ | 301,893 | $ | 954 | $ | 271 | 0.79 | % | 0.18 | % | ||||||||||||||||||||||||||||||||
Securities borrowed and purchased under agreements to resell(5) | Securities borrowed and purchased under agreements to resell(5) | Securities borrowed and purchased under agreements to resell(5) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
In U.S. offices | In U.S. offices | $ | 170,761 | $ | 146,098 | $ | 272 | $ | 1,076 | 0.21 | % | 0.98 | % | In U.S. offices | $ | 184,030 | $ | 167,679 | $ | 567 | $ | 202 | 0.62 | % | 0.24 | % | ||||||||||||||||||||||||||||||||
In offices outside the U.S.(4) | In offices outside the U.S.(4) | 145,700 | 137,222 | 491 | 885 | 0.45 | 0.86 | In offices outside the U.S.(4) | 162,548 | 145,422 | 632 | 297 | 0.78 | 0.41 | ||||||||||||||||||||||||||||||||||||||||||||
Total | Total | $ | 316,461 | $ | 283,320 | $ | 763 | $ | 1,961 | 0.32 | % | 0.92 | % | Total | $ | 346,578 | $ | 313,101 | $ | 1,199 | $ | 499 | 0.70 | % | 0.32 | % | ||||||||||||||||||||||||||||||||
Trading account assets(6)(7) | Trading account assets(6)(7) | Trading account assets(6)(7) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
In U.S. offices | In U.S. offices | $ | 143,639 | $ | 143,148 | $ | 1,996 | $ | 2,789 | 1.86 | % | 2.60 | % | In U.S. offices | $ | 137,972 | $ | 148,634 | $ | 1,224 | $ | 1,331 | 1.79 | % | 1.81 | % | ||||||||||||||||||||||||||||||||
In offices outside the U.S.(4) | In offices outside the U.S.(4) | 155,894 | 129,331 | 2,099 | 1,938 | 1.80 | 2.00 | In offices outside the U.S.(4) | 135,227 | 156,345 | 1,586 | 1,479 | 2.37 | 1.91 | ||||||||||||||||||||||||||||||||||||||||||||
Total | Total | $ | 299,533 | $ | 272,479 | $ | 4,095 | $ | 4,727 | 1.83 | % | 2.32 | % | Total | $ | 273,199 | $ | 304,979 | $ | 2,810 | $ | 2,810 | 2.07 | % | 1.86 | % | ||||||||||||||||||||||||||||||||
Investments | Investments | Investments | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
In U.S. offices | In U.S. offices | In U.S. offices | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Taxable | Taxable | $ | 316,038 | $ | 260,161 | $ | 2,608 | $ | 3,059 | 1.10 | % | 1.57 | % | Taxable | $ | 355,577 | $ | 307,888 | $ | 2,153 | $ | 1,673 | 1.22 | % | 1.10 | % | ||||||||||||||||||||||||||||||||
Exempt from U.S. income tax | Exempt from U.S. income tax | 12,496 | 14,345 | 331 | 361 | 3.54 | 3.36 | Exempt from U.S. income tax | 11,755 | 12,758 | 203 | 232 | 3.48 | 3.67 | ||||||||||||||||||||||||||||||||||||||||||||
In offices outside the U.S.(4) | In offices outside the U.S.(4) | 151,566 | 137,127 | 2,592 | 2,908 | 2.29 | 2.83 | In offices outside the U.S.(4) | 151,869 | 150,448 | 2,098 | 1,719 | 2.79 | 2.30 | ||||||||||||||||||||||||||||||||||||||||||||
Total | Total | $ | 480,100 | $ | 411,633 | $ | 5,531 | $ | 6,328 | 1.54 | % | 2.05 | % | Total | $ | 519,201 | $ | 471,094 | $ | 4,454 | $ | 3,624 | 1.73 | % | 1.55 | % | ||||||||||||||||||||||||||||||||
Loans (net of unearned income)(8) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Consumer loans(8) | Consumer loans(8) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
In U.S. offices | In U.S. offices | $ | 260,748 | $ | 251,023 | $ | 10,393 | $ | 9,776 | 8.04 | % | 7.85 | % | |||||||||||||||||||||||||||||||||||||||||||||
In offices outside the U.S.(4) | In offices outside the U.S.(4) | 91,632 | 126,585 | 2,470 | 3,447 | 5.44 | 5.49 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Total | Total | $ | 352,380 | $ | 377,608 | $ | 12,863 | $ | 13,223 | 7.36 | % | 7.06 | % | |||||||||||||||||||||||||||||||||||||||||||||
Corporate loans(8) | Corporate loans(8) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
In U.S. offices | In U.S. offices | $ | 139,528 | $ | 130,309 | $ | 2,397 | $ | 2,066 | 3.46 | % | 3.20 | % | |||||||||||||||||||||||||||||||||||||||||||||
In offices outside the U.S.(4) | In offices outside the U.S.(4) | 161,123 | 160,208 | 2,997 | 2,400 | 3.75 | 3.02 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Total | Total | $ | 300,651 | $ | 290,517 | $ | 5,394 | $ | 4,466 | 3.62 | % | 3.10 | % | |||||||||||||||||||||||||||||||||||||||||||||
Total loans(8) | Total loans(8) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
In U.S. offices | In U.S. offices | $ | 383,693 | $ | 401,253 | $ | 17,877 | $ | 20,366 | 6.23 | % | 6.78 | % | In U.S. offices | $ | 400,276 | $ | 381,332 | $ | 12,790 | $ | 11,842 | 6.44 | % | 6.26 | % | ||||||||||||||||||||||||||||||||
In offices outside the U.S.(4) | In offices outside the U.S.(4) | 284,553 | 290,303 | 8,709 | 10,514 | 4.09 | 4.84 | In offices outside the U.S.(4) | 252,755 | 286,793 | 5,467 | 5,847 | 4.36 | 4.11 | ||||||||||||||||||||||||||||||||||||||||||||
Total | Total | $ | 668,246 | $ | 691,556 | $ | 26,586 | $ | 30,880 | 5.32 | % | 5.96 | % | Total | $ | 653,031 | $ | 668,125 | $ | 18,257 | $ | 17,689 | 5.64 | % | 5.34 | % | ||||||||||||||||||||||||||||||||
Other interest-earning assets(9) | Other interest-earning assets(9) | $ | 72,325 | $ | 69,200 | $ | 404 | $ | 492 | 0.75 | % | 0.95 | % | Other interest-earning assets(9) | $ | 120,722 | $ | 72,891 | $ | 1,193 | $ | 208 | 1.99 | % | 0.58 | % | ||||||||||||||||||||||||||||||||
Total interest-earning assets | Total interest-earning assets | $ | 2,135,980 | $ | 2,001,675 | $ | 37,797 | $ | 45,190 | 2.37 | % | 3.02 | % | Total interest-earning assets | $ | 2,156,688 | $ | 2,132,083 | $ | 28,867 | $ | 25,101 | 2.70 | % | 2.37 | % | ||||||||||||||||||||||||||||||||
Non-interest-earning assets(6) | Non-interest-earning assets(6) | $ | 198,896 | $ | 200,457 | Non-interest-earning assets(6) | $ | 220,359 | $ | 197,219 | ||||||||||||||||||||||||||||||||||||||||||||||||
Total assets | Total assets | $ | 2,334,876 | $ | 2,202,132 | Total assets | $ | 2,377,047 | $ | 2,329,302 |
Quarterly—Liabilities | Average volume | Interest expense | % Average rate | ||||||||||||||||||||||||||
3rd Qtr. | 2nd Qtr. | 3rd Qtr. | 3rd Qtr. | 2nd Qtr. | 3rd Qtr. | 3rd Qtr. | 2nd Qtr. | 3rd Qtr. | |||||||||||||||||||||
In millions of dollars, except rates | 2021 | 2021 | 2020 | 2021 | 2021 | 2020 | 2021 | 2021 | 2020 | ||||||||||||||||||||
Deposits | |||||||||||||||||||||||||||||
In U.S. offices(4) | $ | 558,990 | $ | 496,250 | $ | 505,627 | $ | 476 | $ | 456 | $ | 691 | 0.34 | % | 0.37 | % | 0.54 | % | |||||||||||
In offices outside the U.S.(5) | 538,800 | 578,880 | 553,673 | 547 | 499 | 602 | 0.40 | 0.35 | 0.43 | ||||||||||||||||||||
Total | $ | 1,097,790 | $ | 1,075,130 | $ | 1,059,300 | $ | 1,023 | $ | 955 | $ | 1,293 | 0.37 | % | 0.36 | % | 0.49 | % | |||||||||||
Securities loaned and sold under agreements to repurchase(6) | |||||||||||||||||||||||||||||
In U.S. offices | $ | 132,810 | $ | 140,708 | $ | 132,721 | $ | 195 | $ | 170 | $ | 168 | 0.58 | % | 0.48 | % | 0.50 | % | |||||||||||
In offices outside the U.S.(5) | 96,137 | 95,931 | 83,835 | 92 | 90 | 124 | 0.38 | 0.38 | 0.59 | ||||||||||||||||||||
Total | $ | 228,947 | $ | 236,639 | $ | 216,556 | $ | 287 | $ | 260 | $ | 292 | 0.50 | % | 0.44 | % | 0.54 | % | |||||||||||
Trading account liabilities(7)(8) | |||||||||||||||||||||||||||||
In U.S. offices | $ | 43,740 | $ | 48,433 | $ | 37,040 | $ | 28 | $ | 30 | $ | 39 | 0.25 | % | 0.25 | % | 0.42 | % | |||||||||||
In offices outside the U.S.(5) | 64,963 | 73,705 | 51,557 | 78 | 120 | 84 | 0.48 | 0.65 | 0.65 | ||||||||||||||||||||
Total | $ | 108,703 | $ | 122,138 | $ | 88,597 | $ | 106 | $ | 150 | $ | 123 | 0.39 | % | 0.49 | % | 0.55 | % | |||||||||||
Short-term borrowings and other interest-bearing liabilities(9) | |||||||||||||||||||||||||||||
In U.S. offices | $ | 65,584 | $ | 69,944 | $ | 76,817 | $ | (19) | $ | (17) | $ | 57 | (0.11) | % | (0.10) | % | 0.30 | % | |||||||||||
In offices outside the U.S.(5) | 27,132 | 23,738 | 18,654 | 27 | 48 | 31 | 0.39 | 0.81 | 0.66 | ||||||||||||||||||||
Total | $ | 92,716 | $ | 93,682 | $ | 95,471 | $ | 8 | $ | 31 | $ | 88 | 0.03 | % | 0.13 | % | 0.37 | % | |||||||||||
Long-term debt(10) | |||||||||||||||||||||||||||||
In U.S. offices | $ | 181,723 | $ | 191,009 | $ | 222,406 | $ | 802 | $ | 852 | $ | 1,023 | 1.75 | % | 1.79 | % | 1.83 | % | |||||||||||
In offices outside the U.S.(5) | 4,061 | 4,355 | 3,827 | 26 | 16 | 2 | 2.54 | 1.47 | 0.21 | ||||||||||||||||||||
Total | $ | 185,784 | $ | 195,364 | $ | 226,233 | $ | 828 | $ | 868 | $ | 1,025 | 1.77 | % | 1.78 | % | 1.80 | % | |||||||||||
Total interest-bearing liabilities | $ | 1,713,940 | $ | 1,722,953 | $ | 1,686,157 | $ | 2,252 | $ | 2,264 | $ | 2,821 | 0.52 | % | 0.53 | % | 0.67 | % | |||||||||||
Demand deposits in U.S. offices | $ | 122,731 | $ | 78,665 | $ | 32,208 | |||||||||||||||||||||||
Other non-interest-bearing liabilities(7) | 307,078 | 337,136 | 347,525 | ||||||||||||||||||||||||||
Total liabilities | $ | 2,143,749 | $ | 2,138,754 | $ | 2,065,890 | |||||||||||||||||||||||
Citigroup stockholders’ equity | $ | 201,608 | $ | 202,368 | $ | 192,923 | |||||||||||||||||||||||
Noncontrolling interests | 668 | 688 | 659 | ||||||||||||||||||||||||||
Total equity | $ | 202,276 | $ | 203,056 | $ | 193,582 | |||||||||||||||||||||||
Total liabilities and stockholders’ equity | $ | 2,346,025 | $ | 2,341,810 | $ | 2,259,472 | |||||||||||||||||||||||
Net interest revenue as a percentage of average interest-earning assets(11) | |||||||||||||||||||||||||||||
In U.S. offices | $ | 1,246,588 | $ | 1,235,013 | $ | 1,215,016 | $ | 6,485 | $ | 6,082 | $ | 6,479 | 2.06 | % | 1.98 | % | 2.12 | % | |||||||||||
In offices outside the U.S.(6) | 897,189 | 907,603 | 852,374 | 3,959 | 4,168 | 4,073 | 1.75 | 1.84 | 1.90 | ||||||||||||||||||||
Total | $ | 2,143,777 | $ | 2,142,616 | $ | 2,067,390 | $ | 10,444 | $ | 10,250 | $ | 10,552 | 1.93 | % | 1.92 | % | 2.03 | % | |||||||||||
Quarterly—Liabilities | Average volume | Interest expense | % Average rate | ||||||||||||||||||||||||||
2nd Qtr. | 1st Qtr. | 2nd Qtr. | 2nd Qtr. | 1st Qtr. | 2nd Qtr. | 2nd Qtr. | 1st Qtr. | 2nd Qtr. | |||||||||||||||||||||
In millions of dollars, except rates | 2022 | 2022 | 2021 | 2022 | 2022 | 2021 | 2022 | 2022 | 2021 | ||||||||||||||||||||
Deposits | |||||||||||||||||||||||||||||
In U.S. offices(4) | $ | 554,182 | $ | 560,018 | $ | 496,250 | $ | 545 | $ | 237 | $ | 267 | 0.39 | % | 0.17 | % | 0.22 | % | |||||||||||
In offices outside the U.S.(5) | 513,820 | 520,087 | 578,880 | 875 | 634 | 409 | 0.68 | 0.49 | 0.28 | ||||||||||||||||||||
Total | $ | 1,068,002 | $ | 1,080,105 | $ | 1,075,130 | $ | 1,420 | $ | 871 | $ | 676 | 0.53 | % | 0.33 | % | 0.25 | % | |||||||||||
Securities loaned and sold under agreements to repurchase(6) | |||||||||||||||||||||||||||||
In U.S. offices | $ | 112,011 | $ | 117,793 | $ | 140,708 | $ | 391 | $ | 161 | $ | 170 | 1.40 | % | 0.55 | % | 0.48 | % | |||||||||||
In offices outside the U.S.(5) | 96,388 | 92,308 | 95,931 | 264 | 121 | 90 | 1.10 | 0.53 | 0.38 | ||||||||||||||||||||
Total | $ | 208,399 | $ | 210,101 | $ | 236,639 | $ | 655 | $ | 282 | $ | 260 | 1.26 | % | 0.54 | % | 0.44 | % | |||||||||||
Trading account liabilities(7)(8) | |||||||||||||||||||||||||||||
In U.S. offices | $ | 52,714 | $ | 48,593 | $ | 48,433 | $ | 24 | $ | 36 | $ | 30 | 0.18 | % | 0.30 | % | 0.25 | % | |||||||||||
In offices outside the U.S.(5) | 72,096 | 65,720 | 73,705 | 113 | 111 | 120 | 0.63 | 0.68 | 0.65 | ||||||||||||||||||||
Total | $ | 124,810 | $ | 114,313 | $ | 122,138 | $ | 137 | $ | 147 | $ | 150 | 0.44 | % | 0.52 | % | 0.49 | % | |||||||||||
Short-term borrowings and other interest-bearing liabilities(9) | |||||||||||||||||||||||||||||
In U.S. offices | $ | 94,028 | $ | 78,662 | $ | 69,944 | $ | 217 | $ | 13 | $ | (17) | 0.93 | % | 0.07 | % | (0.10) | % | |||||||||||
In offices outside the U.S.(5) | 60,211 | 60,199 | 23,738 | 51 | 42 | 48 | 0.34 | 0.28 | 0.81 | ||||||||||||||||||||
Total | $ | 154,239 | $ | 138,861 | $ | 93,682 | $ | 268 | $ | 55 | $ | 31 | 0.70 | % | 0.16 | % | 0.13 | % | |||||||||||
Long-term debt(10) | |||||||||||||||||||||||||||||
In U.S. offices | $ | 164,832 | $ | 166,974 | $ | 191,009 | $ | 1,143 | $ | 889 | $ | 852 | 2.78 | % | 2.16 | % | 1.79 | % | |||||||||||
In offices outside the U.S.(5) | 3,892 | 3,953 | 4,355 | 43 | 36 | 16 | 4.43 | 3.69 | 1.47 | ||||||||||||||||||||
Total | $ | 168,724 | $ | 170,927 | $ | 195,364 | $ | 1,186 | $ | 925 | $ | 868 | 2.82 | % | 2.19 | % | 1.78 | % | |||||||||||
Total interest-bearing liabilities | $ | 1,724,174 | $ | 1,714,307 | $ | 1,722,953 | $ | 3,666 | $ | 2,280 | $ | 1,985 | 0.85 | % | 0.54 | % | 0.46 | % | |||||||||||
Demand deposits in U.S. offices | $ | 143,426 | $ | 129,349 | $ | 78,665 | |||||||||||||||||||||||
Other non-interest-bearing liabilities(7) | 313,926 | 329,572 | 337,136 | ||||||||||||||||||||||||||
Total liabilities | $ | 2,181,526 | $ | 2,173,228 | $ | 2,138,754 | |||||||||||||||||||||||
Citigroup stockholders’ equity | $ | 197,976 | $ | 200,164 | $ | 202,368 | |||||||||||||||||||||||
Noncontrolling interests | 551 | 648 | 688 | ||||||||||||||||||||||||||
Total equity | $ | 198,527 | $ | 200,812 | $ | 203,056 | |||||||||||||||||||||||
Total liabilities and stockholders’ equity | $ | 2,380,053 | $ | 2,374,040 | $ | 2,341,810 | |||||||||||||||||||||||
Net interest income as a percentage of average interest-earning assets(11) | |||||||||||||||||||||||||||||
In U.S. offices | $ | 1,247,713 | $ | 1,247,057 | $ | 1,235,013 | $ | 7,070 | $ | 6,858 | $ | 6,271 | 2.27 | % | 2.23 | % | 2.04 | % | |||||||||||
In offices outside the U.S.(6) | 903,819 | 914,786 | 907,603 | 4,938 | 4,055 | 4,258 | 2.19 | 1.80 | 1.88 | ||||||||||||||||||||
Total | $ | 2,151,532 | $ | 2,161,843 | $ | 2,142,616 | $ | 12,008 | $ | 10,913 | $ | 10,529 | 2.24 | % | 2.05 | % | 1.97 | % | |||||||||||
Nine Months—Liabilities | Average volume | Interest expense | % Average rate | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Six Months—Liabilities | Six Months—Liabilities | Average volume | Interest expense | % Average rate | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Nine Months | Nine Months | Nine Months | Nine Months | Nine Months | Nine Months | Six Months | Six Months | Six Months | Six Months | Six Months | Six Months | |||||||||||||||||||||||||||||||||||||||||||||||
In millions of dollars, except rates | In millions of dollars, except rates | 2021 | 2020 | 2021 | 2020 | 2021 | 2020 | In millions of dollars, except rates | 2022 | 2021 | 2022 | 2021 | 2022 | 2021 | ||||||||||||||||||||||||||||||||||||||||||||
Deposits | Deposits | Deposits | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
In U.S. offices(4) | In U.S. offices(4) | $ | 520,311 | $ | 475,516 | $ | 1,463 | $ | 2,778 | 0.38 | % | 0.78 | % | In U.S. offices(4) | $ | 557,100 | $ | 500,972 | $ | 782 | $ | 549 | 0.28 | % | 0.22 | % | ||||||||||||||||||||||||||||||||
In offices outside the U.S.(5) | In offices outside the U.S.(5) | 561,938 | 533,649 | 1,567 | 2,598 | 0.37 | 0.65 | In offices outside the U.S.(5) | 516,954 | 573,507 | 1,509 | 839 | 0.59 | 0.30 | ||||||||||||||||||||||||||||||||||||||||||||
Total | Total | $ | 1,082,249 | $ | 1,009,165 | $ | 3,030 | $ | 5,376 | 0.37 | % | 0.71 | % | Total | $ | 1,074,054 | $ | 1,074,479 | $ | 2,291 | $ | 1,388 | 0.43 | % | 0.26 | % | ||||||||||||||||||||||||||||||||
Securities loaned and sold under agreements to repurchase(6) | Securities loaned and sold under agreements to repurchase(6) | Securities loaned and sold under agreements to repurchase(6) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
In U.S. offices | In U.S. offices | $ | 140,153 | $ | 137,091 | $ | 536 | $ | 1,126 | 0.51 | % | 1.10 | % | In U.S. offices | $ | 114,902 | $ | 143,825 | $ | 552 | $ | 341 | 0.97 | % | 0.48 | % | ||||||||||||||||||||||||||||||||
In offices outside the U.S.(5) | In offices outside the U.S.(5) | 93,463 | 76,189 | 264 | 704 | 0.38 | 1.23 | In offices outside the U.S.(5) | 94,348 | 92,126 | 385 | 172 | 0.82 | 0.38 | ||||||||||||||||||||||||||||||||||||||||||||
Total | Total | $ | 233,616 | $ | 213,280 | $ | 800 | $ | 1,830 | 0.46 | % | 1.15 | % | Total | $ | 209,250 | $ | 235,951 | $ | 937 | $ | 513 | 0.90 | % | 0.44 | % | ||||||||||||||||||||||||||||||||
Trading account liabilities(7)(8) | Trading account liabilities(7)(8) | Trading account liabilities(7)(8) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
In U.S. offices | In U.S. offices | $ | 47,990 | $ | 37,321 | $ | 80 | $ | 239 | 0.22 | % | 0.86 | % | In U.S. offices | $ | 50,653 | $ | 50,115 | $ | 60 | $ | 52 | 0.24 | % | 0.21 | % | ||||||||||||||||||||||||||||||||
In offices outside the U.S.(5) | In offices outside the U.S.(5) | 68,078 | 51,333 | 290 | 267 | 0.57 | 0.69 | In offices outside the U.S.(5) | 68,908 | 69,636 | 224 | 212 | 0.66 | 0.61 | ||||||||||||||||||||||||||||||||||||||||||||
Total | Total | $ | 116,068 | $ | 88,654 | $ | 370 | $ | 506 | 0.43 | % | 0.76 | % | Total | $ | 119,561 | $ | 119,751 | $ | 284 | $ | 264 | 0.48 | % | 0.44 | % | ||||||||||||||||||||||||||||||||
Short-term borrowings and other interest bearing liabilities(9) | Short-term borrowings and other interest bearing liabilities(9) | Short-term borrowings and other interest bearing liabilities(9) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
In U.S. offices | In U.S. offices | $ | 69,314 | $ | 86,555 | $ | (36) | $ | 487 | (0.07) | % | 0.75 | % | In U.S. offices | $ | 86,345 | $ | 71,179 | $ | 230 | $ | (17) | 0.54 | % | (0.05) | % | ||||||||||||||||||||||||||||||||
In offices outside the U.S.(5) | In offices outside the U.S.(5) | 23,933 | 20,481 | 106 | 125 | 0.59 | 0.82 | In offices outside the U.S.(5) | 60,205 | 22,334 | 93 | 79 | 0.31 | 0.71 | ||||||||||||||||||||||||||||||||||||||||||||
Total | Total | $ | 93,247 | $ | 107,036 | $ | 70 | $ | 612 | 0.10 | % | 0.76 | % | Total | $ | 146,550 | $ | 93,513 | $ | 323 | $ | 62 | 0.44 | % | 0.13 | % | ||||||||||||||||||||||||||||||||
Long-term debt(10) | Long-term debt(10) | Long-term debt(10) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
In U.S. offices | In U.S. offices | $ | 191,408 | $ | 212,696 | $ | 2,559 | $ | 3,639 | 1.79 | % | 2.29 | % | In U.S. offices | $ | 165,903 | $ | 196,250 | $ | 2,032 | $ | 1,757 | 2.47 | % | 1.81 | % | ||||||||||||||||||||||||||||||||
In offices outside the U.S.(5) | In offices outside the U.S.(5) | 4,396 | 3,954 | 55 | 14 | 1.67 | 0.47 | In offices outside the U.S.(5) | 3,923 | 4,564 | 79 | 29 | 4.06 | 1.28 | ||||||||||||||||||||||||||||||||||||||||||||
Total | Total | $ | 195,804 | $ | 216,650 | $ | 2,614 | $ | 3,653 | 1.78 | % | 2.25 | % | Total | $ | 169,826 | $ | 200,814 | $ | 2,111 | $ | 1,786 | 2.51 | % | 1.79 | % | ||||||||||||||||||||||||||||||||
Total interest-bearing liabilities | Total interest-bearing liabilities | $ | 1,720,984 | $ | 1,634,785 | $ | 6,884 | $ | 11,977 | 0.53 | % | 0.98 | % | Total interest-bearing liabilities | $ | 1,719,241 | $ | 1,724,508 | $ | 5,946 | $ | 4,013 | 0.70 | % | 0.47 | % | ||||||||||||||||||||||||||||||||
Demand deposits in U.S. offices | Demand deposits in U.S. offices | $ | 86,009 | $ | 29,921 | Demand deposits in U.S. offices | $ | 136,388 | $ | 67,649 | ||||||||||||||||||||||||||||||||||||||||||||||||
Other non-interest-bearing liabilities(7) | Other non-interest-bearing liabilities(7) | 325,777 | 343,620 | Other non-interest-bearing liabilities(7) | 321,748 | 335,125 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Total liabilities | Total liabilities | $ | 2,132,770 | $ | 2,008,327 | Total liabilities | $ | 2,177,377 | $ | 2,127,280 | ||||||||||||||||||||||||||||||||||||||||||||||||
Citigroup stockholders’ equity | Citigroup stockholders’ equity | $ | 201,426 | $ | 193,164 | Citigroup stockholders’ equity | $ | 199,070 | $ | 201,335 | ||||||||||||||||||||||||||||||||||||||||||||||||
Noncontrolling interests | Noncontrolling interests | 680 | 641 | Noncontrolling interests | 600 | 687 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Total equity | Total equity | $ | 202,106 | $ | 193,805 | Total equity | $ | 199,670 | $ | 202,022 | ||||||||||||||||||||||||||||||||||||||||||||||||
Total liabilities and stockholders’ equity | Total liabilities and stockholders’ equity | $ | 2,334,876 | $ | 2,202,132 | Total liabilities and stockholders’ equity | $ | 2,377,047 | $ | 2,329,302 | ||||||||||||||||||||||||||||||||||||||||||||||||
Net interest revenue as a percentage of average interest-earning assets(11) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net interest income as a percentage of average interest-earning assets(11) | Net interest income as a percentage of average interest-earning assets(11) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
In U.S. offices | In U.S. offices | $ | 1,237,799 | $ | 1,172,136 | $ | 18,902 | $ | 20,184 | 2.04 | % | 2.30 | % | In U.S. offices | $ | 1,247,385 | $ | 1,233,404 | $ | 13,928 | $ | 12,854 | 2.25 | % | 2.10 | % | ||||||||||||||||||||||||||||||||
In offices outside the U.S.(6) | In offices outside the U.S.(6) | 898,182 | 829,539 | 12,011 | 13,029 | 1.79 | 2.10 | In offices outside the U.S.(6) | 909,303 | 898,678 | 8,993 | 8,234 | 1.99 | 1.85 | ||||||||||||||||||||||||||||||||||||||||||||
Total | Total | $ | 2,135,981 | $ | 2,001,675 | $ | 30,913 | $ | 33,213 | 1.93 | % | 2.22 | % | Total | $ | 2,156,688 | $ | 2,132,082 | $ | 22,921 | $ | 21,088 | 2.14 | % | 1.99 | % |
3Q21 vs. 2Q21 | 3Q21 vs. 3Q20 | 2Q22 vs. 1Q22 | 2Q22 vs. 2Q21 | |||||||||||||||||||||||||||||||||||||
Increase (decrease) due to change in: | Increase (decrease) due to change in: | Increase (decrease) due to change in: | Increase (decrease) due to change in: | |||||||||||||||||||||||||||||||||||||
In millions of dollars | In millions of dollars | Average volume | Average rate | Net change | Average volume | Average rate | Net change | In millions of dollars | Average volume | Average rate | Net change | Average volume | Average rate | Net change | ||||||||||||||||||||||||||
Deposits with banks(3) | Deposits with banks(3) | $ | (1) | $ | 22 | $ | 21 | $ | (5) | $ | 36 | $ | 31 | Deposits with banks(3) | $ | (42) | $ | 404 | $ | 362 | $ | (36) | $ | 568 | $ | 532 | ||||||||||||||
Securities borrowed and purchased under agreements to resell | Securities borrowed and purchased under agreements to resell | Securities borrowed and purchased under agreements to resell | ||||||||||||||||||||||||||||||||||||||
In U.S. offices | In U.S. offices | $ | 3 | $ | (18) | $ | (15) | $ | 20 | $ | (103) | $ | (83) | In U.S. offices | $ | 8 | $ | 341 | $ | 349 | $ | 10 | $ | 363 | $ | 373 | ||||||||||||||
In offices outside the U.S.(3) | In offices outside the U.S.(3) | (2) | 76 | 74 | 7 | (12) | (5) | In offices outside the U.S.(3) | (11) | 73 | 62 | 10 | 217 | 227 | ||||||||||||||||||||||||||
Total | Total | $ | 1 | $ | 58 | $ | 59 | $ | 27 | $ | (115) | $ | (88) | Total | $ | (3) | $ | 414 | $ | 411 | $ | 20 | $ | 580 | $ | 600 | ||||||||||||||
Trading account assets(4) | Trading account assets(4) | Trading account assets(4) | ||||||||||||||||||||||||||||||||||||||
In U.S. offices | In U.S. offices | $ | (38) | $ | 124 | $ | 86 | $ | (60) | $ | (136) | $ | (196) | In U.S. offices | $ | 10 | $ | 30 | $ | 40 | $ | (14) | $ | 67 | $ | 53 | ||||||||||||||
In offices outside the U.S.(3) | In offices outside the U.S.(3) | (25) | (248) | (273) | 58 | (35) | 23 | In offices outside the U.S.(3) | 14 | 460 | 474 | (141) | 278 | 137 | ||||||||||||||||||||||||||
Total | Total | $ | (63) | $ | (124) | $ | (187) | $ | (2) | $ | (171) | $ | (173) | Total | $ | 24 | $ | 490 | $ | 514 | $ | (155) | $ | 345 | $ | 190 | ||||||||||||||
Investments(1) | Investments(1) | Investments(1) | ||||||||||||||||||||||||||||||||||||||
In U.S. offices | In U.S. offices | $ | 34 | $ | 19 | $ | 53 | $ | 152 | $ | (121) | $ | 31 | In U.S. offices | $ | 11 | $ | 113 | $ | 124 | $ | 114 | $ | 145 | $ | 259 | ||||||||||||||
In offices outside the U.S.(3) | In offices outside the U.S.(3) | 14 | (4) | 10 | 68 | (94) | (26) | In offices outside the U.S.(3) | (18) | 214 | 196 | (6) | 290 | 284 | ||||||||||||||||||||||||||
Total | Total | $ | 48 | $ | 15 | $ | 63 | $ | 220 | $ | (215) | $ | 5 | Total | $ | (7) | $ | 327 | $ | 320 | $ | 108 | $ | 435 | $ | 543 | ||||||||||||||
Consumer loans (net of unearned income)(5) | Consumer loans (net of unearned income)(5) | |||||||||||||||||||||||||||||||||||||||
In U.S. offices | In U.S. offices | $ | 139 | $ | 164 | $ | 303 | $ | 270 | $ | 293 | $ | 563 | |||||||||||||||||||||||||||
In offices outside the U.S.(3) | In offices outside the U.S.(3) | (89) | 125 | 36 | (542) | 59 | (483) | |||||||||||||||||||||||||||||||||
Total | Total | $ | 50 | $ | 289 | $ | 339 | $ | (272) | $ | 352 | $ | 80 | |||||||||||||||||||||||||||
Corporate loans (net of unearned income)(5) | Corporate loans (net of unearned income)(5) | |||||||||||||||||||||||||||||||||||||||
In U.S. offices | In U.S. offices | $ | 44 | $ | 129 | $ | 173 | $ | 81 | $ | 189 | $ | 270 | |||||||||||||||||||||||||||
In offices outside the U.S.(3) | In offices outside the U.S.(3) | 29 | 238 | 267 | 14 | 398 | 412 | |||||||||||||||||||||||||||||||||
Total | Total | $ | 73 | $ | 367 | $ | 440 | $ | 95 | $ | 587 | $ | 682 | |||||||||||||||||||||||||||
Loans (net of unearned income)(5) | Loans (net of unearned income)(5) | Loans (net of unearned income)(5) | ||||||||||||||||||||||||||||||||||||||
In U.S. offices | In U.S. offices | $ | 88 | $ | 147 | $ | 235 | $ | (23) | $ | (258) | $ | (281) | In U.S. offices | $ | 183 | $ | 293 | $ | 476 | $ | 351 | $ | 482 | $ | 833 | ||||||||||||||
In offices outside the U.S.(3) | In offices outside the U.S.(3) | (77) | (17) | (94) | (78) | (190) | (268) | In offices outside the U.S.(3) | (60) | 363 | 303 | (528) | 457 | (71) | ||||||||||||||||||||||||||
Total | Total | $ | 11 | $ | 130 | $ | 141 | $ | (101) | $ | (448) | $ | (549) | Total | $ | 123 | $ | 656 | $ | 779 | $ | (177) | $ | 939 | $ | 762 | ||||||||||||||
Other interest-earning assets(6) | Other interest-earning assets(6) | $ | 2 | $ | 83 | $ | 85 | $ | 13 | $ | 84 | $ | 97 | Other interest-earning assets(6) | $ | 8 | $ | 87 | $ | 95 | $ | 129 | $ | 404 | $ | 533 | ||||||||||||||
Total interest revenue | Total interest revenue | $ | (2) | $ | 184 | $ | 182 | $ | 152 | $ | (829) | $ | (677) | Total interest revenue | $ | 103 | $ | 2,378 | $ | 2,481 | $ | (111) | $ | 3,271 | $ | 3,160 |
3Q21 vs. 2Q21 | 3Q21 vs. 3Q20 | |||||||||||||||||||
Increase (decrease) due to change in: | Increase (decrease) due to change in: | |||||||||||||||||||
In millions of dollars | Average volume | Average rate | Net change | Average volume | Average rate | Net change | ||||||||||||||
Deposits | ||||||||||||||||||||
In U.S. offices | $ | 55 | $ | (35) | $ | 20 | $ | 67 | $ | (282) | $ | (215) | ||||||||
In offices outside the U.S.(3) | (36) | 84 | 48 | (16) | (39) | (55) | ||||||||||||||
Total | $ | 19 | $ | 49 | $ | 68 | $ | 51 | $ | (321) | $ | (270) | ||||||||
Securities loaned and sold under agreements to repurchase | ||||||||||||||||||||
In U.S. offices | $ | (10) | $ | 35 | $ | 25 | $ | — | $ | 27 | $ | 27 | ||||||||
In offices outside the U.S.(3) | — | 2 | 2 | 16 | (48) | (32) | ||||||||||||||
Total | $ | (10) | $ | 37 | $ | 27 | $ | 16 | $ | (21) | $ | (5) | ||||||||
Trading account liabilities(4) | ||||||||||||||||||||
In U.S. offices | $ | (3) | $ | 1 | $ | (2) | $ | 6 | $ | (17) | $ | (11) | ||||||||
In offices outside the U.S.(3) | (13) | (29) | (42) | 19 | (25) | (6) | ||||||||||||||
Total | $ | (16) | $ | (28) | $ | (44) | $ | 25 | $ | (42) | $ | (17) | ||||||||
Short-term borrowings and other interest-bearing liabilities(5) | ||||||||||||||||||||
In U.S. offices | $ | 1 | $ | (3) | $ | (2) | $ | (7) | $ | (69) | $ | (76) | ||||||||
In offices outside the U.S.(3) | 6 | (27) | (21) | 11 | (15) | (4) | ||||||||||||||
Total | $ | 7 | $ | (30) | $ | (23) | $ | 4 | $ | (84) | $ | (80) | ||||||||
Long-term debt | ||||||||||||||||||||
In U.S. offices | $ | (41) | $ | (9) | $ | (50) | $ | (181) | $ | (40) | $ | (221) | ||||||||
In offices outside the U.S.(3) | (1) | 11 | 10 | — | 24 | 24 | ||||||||||||||
Total | $ | (42) | $ | 2 | $ | (40) | $ | (181) | $ | (16) | $ | (197) | ||||||||
Total interest expense | $ | (42) | $ | 30 | $ | (12) | $ | (85) | $ | (484) | $ | (569) | ||||||||
Net interest revenue | $ | 40 | $ | 154 | $ | 194 | $ | 237 | $ | (345) | $ | (108) |
Nine Months 2021 vs. Nine Months 2020 | |||||||||||
Increase (decrease) due to change in: | |||||||||||
In millions of dollars | Average volume | Average rate | Net change | ||||||||
Deposits with banks(3) | $ | 70 | $ | (454) | $ | (384) | |||||
Securities borrowed and purchased under agreements to resell | |||||||||||
In U.S. offices | $ | 156 | $ | (960) | $ | (804) | |||||
In offices outside the U.S.(3) | 52 | (446) | (394) | ||||||||
Total | $ | 208 | $ | (1,406) | $ | (1,198) | |||||
Trading account assets(4) | |||||||||||
In U.S. offices | $ | 10 | $ | (803) | $ | (793) | |||||
In offices outside the U.S.(3) | 371 | (210) | 161 | ||||||||
Total | $ | 381 | $ | (1,013) | $ | (632) | |||||
Investments(1) | |||||||||||
In U.S. offices | $ | 595 | $ | (1,076) | $ | (481) | |||||
In offices outside the U.S.(3) | 285 | (601) | (316) | ||||||||
Total | $ | 880 | $ | (1,677) | $ | (797) | |||||
Loans (net of unearned income)(5) | |||||||||||
In U.S. offices | $ | (866) | $ | (1,623) | $ | (2,489) | |||||
In offices outside the U.S.(3) | (204) | (1,601) | (1,805) | ||||||||
Total | $ | (1,070) | $ | (3,224) | $ | (4,294) | |||||
Other interest-earning assets(6) | $ | 21 | $ | (109) | $ | (88) | |||||
Total interest revenue | $ | 490 | $ | (7,883) | $ | (7,393) |
Nine Months 2021 vs. Nine Months 2020 | 2Q22 vs. 1Q22 | 2Q22 vs. 2Q21 | |||||||||||||||||||||||||||||
Increase (decrease) due to change in: | Increase (decrease) due to change in: | Increase (decrease) due to change in: | |||||||||||||||||||||||||||||
In millions of dollars | In millions of dollars | Average volume | Average rate | Net change | In millions of dollars | Average volume | Average rate | Net change | Average volume | Average rate | Net change | ||||||||||||||||||||
Deposits | Deposits | Deposits | |||||||||||||||||||||||||||||
In U.S. offices | In U.S. offices | $ | 241 | $ | (1,556) | $ | (1,315) | In U.S. offices | $ | (2) | $ | 310 | $ | 308 | $ | 35 | $ | 243 | $ | 278 | |||||||||||
In offices outside the U.S.(3) | In offices outside the U.S.(3) | 131 | (1,162) | (1,031) | In offices outside the U.S.(3) | (8) | 249 | 241 | (51) | 517 | 466 | ||||||||||||||||||||
Total | Total | $ | 372 | $ | (2,718) | $ | (2,346) | Total | $ | (10) | $ | 559 | $ | 549 | $ | (16) | $ | 760 | $ | 744 | |||||||||||
Securities loaned and sold under agreements to repurchase | Securities loaned and sold under agreements to repurchase | Securities loaned and sold under agreements to repurchase | |||||||||||||||||||||||||||||
In U.S. offices | In U.S. offices | $ | 25 | $ | (615) | $ | (590) | In U.S. offices | $ | (9) | $ | 239 | $ | 230 | $ | (41) | $ | 262 | $ | 221 | |||||||||||
In offices outside the U.S.(3) | In offices outside the U.S.(3) | 132 | (572) | (440) | In offices outside the U.S.(3) | 6 | 137 | 143 | — | 174 | 174 | ||||||||||||||||||||
Total | Total | $ | 157 | $ | (1,187) | $ | (1,030) | Total | $ | (3) | $ | 376 | $ | 373 | $ | (41) | $ | 436 | $ | 395 | |||||||||||
Trading account liabilities(4) | Trading account liabilities(4) | Trading account liabilities(4) | |||||||||||||||||||||||||||||
In U.S. offices | In U.S. offices | $ | 54 | $ | (213) | $ | (159) | In U.S. offices | $ | 3 | $ | (15) | $ | (12) | $ | 3 | $ | (9) | $ | (6) | |||||||||||
In offices outside the U.S.(3) | In offices outside the U.S.(3) | 77 | (54) | 23 | In offices outside the U.S.(3) | 10 | (8) | 2 | (3) | (4) | (7) | ||||||||||||||||||||
Total | Total | $ | 131 | $ | (267) | $ | (136) | Total | $ | 13 | $ | (23) | $ | (10) | $ | — | $ | (13) | $ | (13) | |||||||||||
Short-term borrowings and other interest bearing liabilities(5) | |||||||||||||||||||||||||||||||
Short-term borrowings and other interest-bearing liabilities(5) | Short-term borrowings and other interest-bearing liabilities(5) | ||||||||||||||||||||||||||||||
In U.S. offices | In U.S. offices | $ | (81) | $ | (442) | $ | (523) | In U.S. offices | $ | 3 | $ | 201 | $ | 204 | $ | (4) | $ | 238 | $ | 234 | |||||||||||
In offices outside the U.S.(3) | In offices outside the U.S.(3) | 19 | (38) | (19) | In offices outside the U.S.(3) | — | 9 | 9 | 43 | (40) | 3 | ||||||||||||||||||||
Total | Total | $ | (62) | $ | (480) | $ | (542) | Total | $ | 3 | $ | 210 | $ | 213 | $ | 39 | $ | 198 | $ | 237 | |||||||||||
Long-term debt | Long-term debt | Long-term debt | |||||||||||||||||||||||||||||
In U.S. offices | In U.S. offices | $ | (340) | $ | (740) | $ | (1,080) | In U.S. offices | $ | (11) | $ | 265 | $ | 254 | $ | (129) | $ | 420 | $ | 291 | |||||||||||
In offices outside the U.S.(3) | In offices outside the U.S.(3) | 2 | 39 | 41 | In offices outside the U.S.(3) | (1) | 8 | 7 | (2) | 29 | 27 | ||||||||||||||||||||
Total | Total | $ | (338) | $ | (701) | $ | (1,039) | Total | $ | (12) | $ | 273 | $ | 261 | $ | (131) | $ | 449 | $ | 318 | |||||||||||
Total interest expense | Total interest expense | $ | 260 | $ | (5,353) | $ | (5,093) | Total interest expense | $ | (9) | $ | 1,395 | $ | 1,386 | $ | (149) | $ | 1,830 | $ | 1,681 | |||||||||||
Net interest revenue | $ | 230 | $ | (2,530) | $ | (2,300) | |||||||||||||||||||||||||
Net interest income | Net interest income | $ | 112 | $ | 983 | $ | 1,095 | $ | 39 | $ | 1,440 | $ | 1,479 |
Six Months 2022 vs. Six Months 2021 | |||||||||||
Increase (decrease) due to change in: | |||||||||||
In millions of dollars | Average volume | Average rate | Net change | ||||||||
Deposits with banks(3) | $ | (61) | $ | 744 | $ | 683 | |||||
Securities borrowed and purchased under agreements to resell | |||||||||||
In U.S. offices | $ | 21 | $ | 344 | $ | 365 | |||||
In offices outside the U.S.(3) | 39 | 296 | 335 | ||||||||
Total | $ | 60 | $ | 640 | $ | 700 | |||||
Trading account assets(4) | |||||||||||
In U.S. offices | $ | (95) | $ | (12) | $ | (107) | |||||
In offices outside the U.S.(3) | (217) | 324 | 107 | ||||||||
Total | $ | (312) | $ | 312 | $ | — | |||||
Investments(1) | |||||||||||
In U.S. offices | $ | 292 | $ | 159 | $ | 451 | |||||
In offices outside the U.S.(3) | 16 | 363 | 379 | ||||||||
Total | $ | 308 | $ | 522 | $ | 830 | |||||
Consumer loans (net of unearned income)(5) | |||||||||||
In U.S. offices | $ | 385 | $ | 232 | $ | 617 | |||||
In offices outside the U.S.(3) | (943) | (34) | (977) | ||||||||
Total | $ | (558) | $ | 198 | $ | (360) | |||||
Corporate loans (net of unearned income)(5) | |||||||||||
In U.S. offices | $ | 152 | $ | 179 | $ | 331 | |||||
In offices outside the U.S.(3) | 14 | 583 | 597 | ||||||||
Total | $ | 166 | $ | 762 | $ | 928 | |||||
Total loans(5) | |||||||||||
In U.S. offices | $ | 537 | $ | 411 | $ | 948 | |||||
In offices outside the U.S.(3) | (929) | 549 | (380) | ||||||||
Total | $ | (392) | $ | 960 | $ | 568 | |||||
Other interest-earning assets(6) | $ | 207 | $ | 778 | $ | 985 | |||||
Total interest revenue | $ | (190) | $ | 3,956 | $ | 3,766 |
Six Months 2022 vs. Six Months 2021 | |||||||||||
Increase (decrease) due to change in: | |||||||||||
In millions of dollars | Average volume | Average rate | Net change | ||||||||
Deposits | |||||||||||
In U.S. offices | $ | 66 | $ | 167 | $ | 233 | |||||
In offices outside the U.S.(3) | (90) | 760 | 670 | ||||||||
Total | $ | (24) | $ | 927 | $ | 903 | |||||
Securities loaned and sold under agreements to repurchase | |||||||||||
In U.S. offices | $ | (80) | $ | 291 | $ | 211 | |||||
In offices outside the U.S.(3) | 4 | 209 | 213 | ||||||||
Total | $ | (76) | $ | 500 | $ | 424 | |||||
Trading account liabilities(4) | |||||||||||
In U.S. offices | $ | — | $ | 8 | $ | 8 | |||||
In offices outside the U.S.(3) | (2) | 14 | 12 | ||||||||
Total | $ | (2) | $ | 22 | $ | 20 | |||||
Short-term borrowings and other interest bearing liabilities(5) | |||||||||||
In U.S. offices | $ | (3) | $ | 250 | $ | 247 | |||||
In offices outside the U.S.(3) | 77 | (63) | 14 | ||||||||
Total | $ | 74 | $ | 187 | $ | 261 | |||||
Long-term debt | |||||||||||
In U.S. offices | $ | (301) | $ | 576 | $ | 275 | |||||
In offices outside the U.S.(3) | (5) | 55 | 50 | ||||||||
Total | $ | (306) | $ | 631 | $ | 325 | |||||
Total interest expense | $ | (334) | $ | 2,267 | $ | 1,933 | |||||
Net interest income | $ | 143 | $ | 1,690 | $ | 1,833 |
Third Quarter | Second Quarter | Third Quarter | Second Quarter | First Quarter | Second Quarter | |||||||||||||||||||||||||||||||||||
In millions of dollars | In millions of dollars | September 30, 2021 | 2021 Average | June 30, 2021 | 2021 Average | September 30, 2020 | 2020 Average | In millions of dollars | June 30, 2022 | 2022 Average | March 31, 2022 | 2022 Average | June 30, 2021 | 2021 Average | ||||||||||||||||||||||||||
Interest rate | Interest rate | $ | 65 | $ | 61 | $ | 62 | $ | 76 | $ | 69 | $ | 82 | Interest rate | $ | 122 | $ | 94 | $ | 84 | $ | 57 | $ | 62 | $ | 76 | ||||||||||||||
Credit spread | Credit spread | 62 | 73 | 77 | 73 | 67 | 79 | Credit spread | 69 | 70 | 70 | 66 | 77 | 73 | ||||||||||||||||||||||||||
Covariance adjustment(1) | Covariance adjustment(1) | (43) | (42) | (35) | (44) | (47) | (55) | Covariance adjustment(1) | (45) | (45) | (51) | (32) | (35) | (44) | ||||||||||||||||||||||||||
Fully diversified interest rate and credit spread(2) | Fully diversified interest rate and credit spread(2) | $ | 84 | $ | 92 | $ | 104 | $ | 105 | $ | 89 | $ | 106 | Fully diversified interest rate and credit spread(2) | $ | 146 | $ | 119 | $ | 103 | $ | 91 | $ | 104 | $ | 105 | ||||||||||||||
Foreign exchange | Foreign exchange | 42 | 42 | 35 | 42 | 27 | 23 | Foreign exchange | 35 | 36 | 35 | 36 | 35 | 42 | ||||||||||||||||||||||||||
Equity | Equity | 36 | 36 | 23 | 31 | 29 | 26 | Equity | 25 | 24 | 29 | 30 | 23 | 31 | ||||||||||||||||||||||||||
Commodity | Commodity | 36 | 36 | 48 | 35 | 21 | 25 | Commodity | 38 | 45 | 65 | 42 | 48 | 35 | ||||||||||||||||||||||||||
Covariance adjustment(1) | Covariance adjustment(1) | (103) | (105) | (107) | (104) | (77) | (76) | Covariance adjustment(1) | (96) | (106) | (116) | (100) | (107) | (104) | ||||||||||||||||||||||||||
Total trading VAR—all market risk factors, including general and specific risk (excluding credit portfolios)(2) | Total trading VAR—all market risk factors, including general and specific risk (excluding credit portfolios)(2) | $ | 95 | $ | 101 | $ | 103 | $ | 109 | $ | 89 | $ | 104 | Total trading VAR—all market risk factors, including general and specific risk (excluding credit portfolios)(2) | $ | 148 | $ | 118 | $ | 116 | $ | 99 | $ | 103 | $ | 109 | ||||||||||||||
Specific risk-only component(3) | Specific risk-only component(3) | $ | (2) | $ | 3 | $ | (4) | $ | (3) | $ | (2) | $ | (10) | Specific risk-only component(3) | $ | 4 | $ | (2) | $ | — | $ | 6 | $ | (4) | $ | (3) | ||||||||||||||
Total trading VAR—general market risk factors only (excluding credit portfolios) | Total trading VAR—general market risk factors only (excluding credit portfolios) | $ | 97 | $ | 98 | $ | 107 | $ | 112 | $ | 91 | $ | 114 | Total trading VAR—general market risk factors only (excluding credit portfolios) | $ | 144 | $ | 120 | $ | 116 | $ | 93 | $ | 107 | $ | 112 | ||||||||||||||
Incremental impact of the credit portfolio(4) | Incremental impact of the credit portfolio(4) | $ | 33 | $ | 38 | $ | 27 | $ | 25 | $ | 35 | $ | 26 | Incremental impact of the credit portfolio(4) | $ | 7 | $ | 17 | $ | 29 | $ | 38 | $ | 27 | $ | 25 | ||||||||||||||
Total trading and credit portfolio VAR | Total trading and credit portfolio VAR | $ | 128 | $ | 139 | $ | 130 | $ | 134 | $ | 124 | $ | 130 | Total trading and credit portfolio VAR | $ | 155 | $ | 135 | $ | 145 | $ | 137 | $ | 130 | $ | 134 |
Third Quarter | Second Quarter | Third Quarter | Second Quarter | First Quarter | Second Quarter | |||||||||||||||||||||||||||||||||||
2021 | 2021 | 2020 | 2022 | 2022 | 2021 | |||||||||||||||||||||||||||||||||||
In millions of dollars | In millions of dollars | Low | High | Low | High | Low | High | In millions of dollars | Low | High | Low | High | Low | High | ||||||||||||||||||||||||||
Interest rate | Interest rate | $ | 51 | $ | 76 | $ | 57 | $ | 96 | $ | 61 | $ | 111 | Interest rate | $ | 79 | $ | 123 | $ | 45 | $ | 102 | $ | 57 | $ | 96 | ||||||||||||||
Credit spread | Credit spread | 62 | 96 | 65 | 86 | 67 | 95 | Credit spread | 65 | 78 | 59 | 71 | 65 | 86 | ||||||||||||||||||||||||||
Fully diversified interest rate and credit spread | Fully diversified interest rate and credit spread | $ | 77 | $ | 115 | $ | 90 | $ | 123 | $ | 83 | $ | 128 | Fully diversified interest rate and credit spread | $ | 105 | $ | 147 | $ | 72 | $ | 125 | $ | 90 | $ | 123 | ||||||||||||||
Foreign exchange | Foreign exchange | 38 | 46 | 34 | 48 | 15 | 31 | Foreign exchange | 32 | 40 | 33 | 61 | 34 | 48 | ||||||||||||||||||||||||||
Equity | Equity | 24 | 50 | 23 | 43 | 22 | 33 | Equity | 17 | 40 | 12 | 44 | 23 | 43 | ||||||||||||||||||||||||||
Commodity | Commodity | 27 | 55 | 26 | 50 | 21 | 32 | Commodity | 33 | 65 | 29 | 65 | 26 | 50 | ||||||||||||||||||||||||||
Total trading | Total trading | $ | 86 | $ | 120 | $ | 90 | $ | 130 | $ | 87 | $ | 128 | Total trading | $ | 102 | $ | 148 | $ | 78 | $ | 127 | $ | 90 | $ | 130 | ||||||||||||||
Total trading and credit portfolio | Total trading and credit portfolio | 114 | 166 | 116 | 159 | 113 | 150 | Total trading and credit portfolio | 119 | 155 | 110 | 159 | 116 | 159 |
In millions of dollars | |||||
Total—all market risk factors, including general and specific risk | |||||
Average—during quarter | $ | ||||
High—during quarter | |||||
Low—during quarter |
In billions of dollars | In billions of dollars | ICG loans(1) | GCB loans | Other funded(2) | Unfunded(3) | Net MTM on derivatives/repos(4) | Total hedges (on loans and CVA) | Investment securities(5) | Trading account assets(6) | Total as of 3Q21 | Total as of 2Q21 | Total as of 3Q20 | Total as a % of Citi as of 3Q21 | In billions of dollars | ICG loans | PBWM loans(1) | Legacy Franchises loans | Other funded(2) | Unfunded(3) | Net MTM on derivatives/repos(4) | Total hedges (on loans and CVA) | Investment securities(5) | Trading account assets(6) | Total as of 2Q22 | Total as of 1Q22 | Total as of 2Q21 | Total as a % of Citi as of 2Q22 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
United Kingdom | United Kingdom | $ | 43.1 | $ | 0.2 | $ | 2.1 | $ | 51.8 | $ | 19.6 | $ | (5.0) | $ | 4.4 | $ | (4.6) | $ | 111.6 | $ | 112.7 | $ | 108.5 | 6.3 | % | United Kingdom | $ | 34.4 | $ | 5.6 | $ | — | $ | 2.7 | $ | 40.8 | $ | 13.0 | $ | (5.5) | $ | 3.8 | $ | 0.5 | $ | 95.3 | $ | 102.1 | $ | 112.7 | 5.4 | % | |||||||||||||||||||||||||||
Mexico | Mexico | 13.5 | 13.0 | 0.3 | 7.9 | 2.8 | (0.9) | 20.0 | 3.4 | 60.0 | 62.5 | 60.9 | 3.4 | Mexico | 8.4 | 0.1 | 20.7 | 0.3 | 7.8 | 1.6 | (1.5) | 16.2 | 3.7 | 57.3 | 60.3 | 62.5 | 3.2 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Ireland | Ireland | 17.1 | — | — | 2.7 | 29.7 | 0.5 | (0.2) | — | 0.6 | 50.4 | 48.9 | 43.8 | 2.8 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Hong Kong | Hong Kong | 20.9 | 14.6 | 0.3 | 7.3 | 1.2 | (1.4) | 8.6 | 1.3 | 52.8 | 52.6 | 47.9 | 3.0 | Hong Kong | 11.9 | 20.7 | — | 0.5 | 7.3 | 1.3 | (1.9) | 9.5 | (0.2) | 49.1 | 51.8 | 52.6 | 2.8 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Singapore | Singapore | 15.9 | 13.8 | 0.3 | 7.3 | 1.6 | (0.7) | 6.2 | 1.6 | 46.0 | 43.6 | 44.1 | 2.6 | Singapore | 9.6 | 19.3 | — | 0.2 | 6.6 | 1.3 | (0.5) | 9.2 | 1.9 | 47.6 | 48.6 | 43.6 | 2.7 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Ireland | 14.7 | — | 1.4 | 28.4 | 0.6 | (0.2) | — | 0.4 | 45.3 | 43.8 | 41.2 | 2.5 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Brazil | Brazil | 11.7 | — | — | 0.1 | 3.2 | 5.8 | (0.9) | 6.6 | 2.0 | 28.5 | 30.4 | 26.1 | 1.6 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
India | India | 7.1 | — | 3.6 | 0.6 | 4.8 | 3.3 | (1.0) | 8.6 | 0.7 | 27.7 | 30.1 | 27.7 | 1.6 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
South Korea | South Korea | 3.8 | 16.6 | 0.1 | 2.2 | 2.0 | (0.8) | 9.8 | 0.5 | 34.2 | 36.7 | 33.2 | 1.9 | South Korea | 3.7 | — | 11.7 | 0.2 | 1.7 | 1.3 | (0.8) | 7.6 | 0.1 | 25.5 | 31.3 | 36.7 | 1.4 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
India | 7.1 | 3.8 | 0.8 | 6.3 | 3.2 | (0.7) | 9.2 | 0.6 | 30.3 | 27.7 | 31.6 | 1.7 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Brazil | 10.5 | — | — | 2.9 | 5.6 | (0.7) | 5.1 | 1.0 | 24.4 | 26.1 | 25.1 | 1.4 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Germany | Germany | 0.3 | — | — | 0.1 | 5.9 | 6.6 | (3.5) | 8.7 | 3.8 | 21.9 | 20.4 | 19.4 | 1.2 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
China | China | 7.7 | 3.6 | 0.7 | 2.3 | 1.0 | (0.6) | 6.1 | (0.6) | 20.2 | 19.8 | 21.7 | 1.1 | China | 6.6 | — | 3.2 | 0.7 | 1.6 | 1.4 | (0.9) | 7.0 | (0.8) | 18.8 | 22.7 | 19.8 | 1.1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Japan | 2.5 | — | 0.1 | 4.8 | 4.2 | (1.6) | 5.0 | 4.3 | 19.3 | 16.6 | 19.7 | 1.1 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Australia(7) | 4.6 | — | — | 9.0 | 1.7 | (0.5) | 1.3 | 1.6 | 17.7 | 24.9 | 21.2 | 1.0 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Taiwan | 5.3 | 8.4 | 0.1 | 1.2 | 0.7 | (0.1) | 0.2 | 1.2 | 17.0 | 17.3 | 17.0 | 1.0 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Jersey | Jersey | 2.2 | 4.2 | — | — | 10.6 | — | (0.2) | — | — | 16.8 | 16.1 | 15.0 | 0.9 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Canada | Canada | 2.0 | 0.5 | 0.1 | 7.2 | 2.3 | (1.2) | 3.0 | 3.0 | 16.9 | 17.9 | 17.0 | 0.9 | Canada | 1.5 | 1.6 | — | 0.1 | 7.0 | 1.8 | (1.6) | 3.1 | 2.6 | 16.1 | 15.9 | 17.9 | 0.9 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
United Arab Emirates | United Arab Emirates | 8.0 | 1.4 | 0.1 | 4.1 | 0.8 | (0.4) | 2.5 | 0.1 | 16.6 | 14.2 | 11.9 | 0.9 | United Arab Emirates | 7.9 | 1.5 | — | 0.2 | 3.9 | 0.4 | (0.5) | 2.5 | — | 15.9 | 15.5 | 14.2 | 0.9 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Jersey | 7.0 | — | 0.2 | 7.8 | 0.1 | (0.2) | — | — | 14.9 | 15.0 | 13.3 | 0.8 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Germany | 0.2 | — | 0.1 | 6.0 | 4.5 | (3.6) | 6.8 | 0.4 | 14.4 | 19.4 | 27.1 | 0.8 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Australia(8) | Australia(8) | 6.9 | 0.5 | — | — | 5.3 | 1.2 | (0.9) | 0.8 | 1.4 | 15.2 | 26.7 | 24.9 | 0.9 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Taiwan(7) | Taiwan(7) | 4.4 | — | 7.9 | 0.1 | 1.2 | 0.8 | (0.1) | 0.1 | 0.5 | 14.9 | 16.1 | 17.3 | 0.8 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Poland | Poland | 3.1 | 1.8 | — | 2.7 | 0.2 | (0.1) | 3.4 | 0.1 | 11.2 | 11.5 | 15.1 | 0.6 | Poland | 3.1 | — | 1.5 | — | 2.3 | 0.5 | (0.1) | 5.9 | 0.1 | 13.3 | 14.2 | 11.5 | 0.7 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Japan | Japan | 1.6 | — | — | — | 3.3 | 3.9 | (2.2) | 4.0 | 1.5 | 12.1 | 17.3 | 16.6 | 0.7 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Malaysia | Malaysia | 1.4 | 3.3 | 0.2 | 0.9 | 0.2 | — | 2.1 | 0.1 | 8.2 | 8.3 | 8.4 | 0.5 | Malaysia | 1.4 | — | 3.0 | 0.2 | 0.9 | 0.2 | (0.1) | 2.4 | 0.1 | 8.1 | 7.9 | 8.3 | 0.5 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Thailand | Thailand | 1.0 | 2.5 | — | 2.1 | 0.1 | — | 2.0 | 0.3 | 8.0 | 7.5 | 7.9 | 0.4 | Thailand | 1.2 | — | 2.6 | — | 2.0 | 0.1 | — | 1.6 | 0.1 | 7.6 | 7.8 | 7.5 | 0.4 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Indonesia | 2.2 | 0.6 | — | 1.3 | 0.1 | (0.1) | 1.5 | 0.2 | 5.8 | 6.0 | 6.0 | 0.3 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Russia | 2.3 | 0.7 | — | 0.8 | 0.1 | (0.1) | 1.6 | 0.1 | 5.5 | 5.4 | 4.6 | 0.3 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Russia(9) | Russia(9) | 1.7 | — | 0.8 | — | 0.3 | 1.3 | (0.2) | 1.5 | 0.1 | 5.5 | 3.9 | 5.4 | 0.3 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Indonesia(7) | Indonesia(7) | 2.3 | — | 0.5 | — | 1.2 | 0.5 | (0.1) | 1.0 | 0.1 | 5.5 | 5.8 | 6.0 | 0.3 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Philippines(10) | Philippines(10) | 0.7 | — | 1.2 | 0.1 | 0.5 | 1.6 | — | 1.3 | (0.1) | 5.3 | 4.2 | 4.1 | 0.3 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Luxembourg | Luxembourg | 1.0 | — | — | — | 0.3 | (0.8) | 4.8 | — | 5.3 | 5.9 | 6.7 | 0.3 | Luxembourg | 0.2 | 0.6 | — | — | — | 0.1 | (0.6) | 3.8 | 0.1 | 4.2 | 4.5 | 5.9 | 0.2 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Philippines | 0.8 | 1.2 | 0.1 | 0.5 | 0.2 | — | 1.5 | (0.3) | 4.0 | 4.1 | 4.7 | 0.2 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
South Africa | 1.5 | — | 0.1 | 0.6 | 0.3 | (0.1) | 1.6 | (0.2) | 3.8 | 3.7 | 3.5 | 0.2 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Colombia | Colombia | 1.6 | — | — | — | 0.4 | 1.1 | (0.1) | 1.3 | (0.2) | 4.1 | 3.1 | 3.2 | 0.2 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Czech Republic | Czech Republic | 0.8 | — | — | 0.7 | 1.4 | — | 0.5 | 0.1 | 3.5 | 3.6 | 3.8 | 0.2 | Czech Republic | 0.8 | — | — | — | 0.8 | 1.8 | (0.1) | 0.3 | — | 3.6 | 3.4 | 3.6 | 0.2 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Total as a % of Citi’s total exposure | Total as a % of Citi’s total exposure | 33.4 | % | Total as a % of Citi’s total exposure | 32.1 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total as a % of Citi’s non-U.S. total exposure | Total as a % of Citi’s non-U.S. total exposure | 90.7 | % | Total as a % of Citi’s non-U.S. total exposure | 94.6 | % |
In billions of U.S. dollars | June 30, 2022 | March 31, 2022 | December 31, 2021 | Change 2Q22 vs. 1Q22 | ||||||||||
Loans | $ | 2.5 | $ | 2.3 | $ | 2.9 | $ | 0.2 | ||||||
Investment securities(1) | 1.5 | 0.9 | 1.5 | 0.6 | ||||||||||
Net MTM on derivatives/repos(2) | 1.3 | 0.4 | 0.4 | 0.9 | ||||||||||
Total hedges (on loans and CVA) | (0.2) | (0.2) | (0.1) | — | ||||||||||
Unfunded(3) | 0.3 | 0.5 | 0.7 | (0.2) | ||||||||||
Trading accounts assets | 0.1 | — | — | 0.1 | ||||||||||
Country risk exposure (included in Top 25 Country Exposures) | $ | 5.5 | $ | 3.9 | $ | 5.4 | $ | 1.6 | ||||||
Cash on deposit and placements(4) | 2.5 | 2.6 | 1.0 | (0.1) | ||||||||||
Reverse repurchase agreements(2) | — | 0.6 | 1.8 | (0.6) | ||||||||||
Total third-party exposure(5) | $ | 8.0 | $ | 7.1 | $ | 8.2 | $ | 0.9 | ||||||
Additional exposures to Russian counterparties that are not held by the Russian subsidiary | 0.4 | 0.8 | 1.6 | (0.4) | ||||||||||
Total Russia exposure(6) | $ | 8.4 | $ | 7.9 | $ | 9.8 | $ | 0.5 |
ACL | |||||||||||||||||||||||||||||||||||
In millions of dollars | Balance Dec. 31, 2020 | 1Q21 build (release) | 1Q21 FX/Other | Balance Mar. 31, 2021 | 2Q21 build (release) | 2Q21 FX/Other | Balance Jun. 30, 2021 | 3Q21 build (release) | 3Q21 FX/Other | Balance Sept. 30, 2021 | ACLL/EOP loans Sept. 30, 2021(1) | ||||||||||||||||||||||||
Cards(1) | $ | 16,805 | $ | (1,523) | $ | (42) | $ | 15,240 | $ | (1,106) | $ | 25 | $ | 14,159 | $ | (906) | $ | (229) | $ | 13,024 | 9.09 | % | |||||||||||||
All other GCB | 2,419 | (283) | (42) | 2,094 | (292) | 28 | 1,830 | (125) | (129) | 1,576 | |||||||||||||||||||||||||
Global Consumer Banking | $ | 19,224 | $ | (1,806) | $ | (84) | $ | 17,334 | $ | (1,398) | $ | 53 | $ | 15,989 | $ | (1,031) | $ | (358) | $ | 14,600 | 5.61 | % | |||||||||||||
Institutional Clients Group | 5,402 | (1,312) | (6) | 4,084 | (949) | (8) | 3,127 | (65) | (15) | 3,047 | 0.77 | ||||||||||||||||||||||||
Corporate/Other | 330 | (109) | (1) | 220 | (99) | 1 | 122 | (53) | (1) | 68 | |||||||||||||||||||||||||
Allowance for credit losses on loans (ACLL) | $ | 24,956 | $ | (3,227) | $ | (91) | $ | 21,638 | $ | (2,446) | $ | 46 | $ | 19,238 | $ | (1,149) | $ | (374) | $ | 17,715 | 2.69 | % | |||||||||||||
Allowance for credit losses on unfunded lending commitments (ACLUC) | 2,655 | (626) | (17) | 2,012 | 44 | 17 | 2,073 | (13) | 3 | 2,063 | |||||||||||||||||||||||||
Other | 146 | 1 | (1) | 146 | 1 | 1 | 148 | (13) | 2 | 137 | |||||||||||||||||||||||||
Total ACL | $ | 27,757 | $ | (3,852) | $ | (109) | $ | 23,796 | $ | (2,401) | $ | 64 | $ | 21,459 | $ | (1,175) | $ | (369) | $ | 19,915 |
ACL | |||||||||||||||||||||||||||||||||||
In millions of dollars | Balance Dec. 31, 2021 | 1Q22 build (release) | 1Q22 FX/ Other | Balance Mar. 31, 2022 | 2Q22 build (release) | 2Q22 FX/ Other | Balance Jun. 30, 2022 | ACLL/EOP loans Jun. 30, 2022(1) | |||||||||||||||||||||||||||
ICG | $ | 2,241 | $ | 596 | $ | 5 | $ | 2,842 | $ | (76) | $ | 25 | $ | 2,791 | |||||||||||||||||||||
Legacy Franchises corporate (Mexico SBMM) | 174 | 5 | 4 | 183 | (3) | (2) | 178 | ||||||||||||||||||||||||||||
Total corporate ACLL | $ | 2,415 | $ | 601 | $ | 9 | $ | 3,025 | $ | (79) | $ | 23 | $ | 2,969 | 1.00 | % | |||||||||||||||||||
U.S. Cards(1) | $ | 10,840 | $ | (1,009) | $ | — | $ | 9,831 | $ | 447 | $ | — | $ | 10,278 | 7.48 | % | |||||||||||||||||||
Retail banking and Global Wealth | 1,181 | (53) | (5) | 1,123 | 191 | (1) | 1,313 | ||||||||||||||||||||||||||||
Total PBWM | $ | 12,021 | $ | (1,062) | $ | (5) | $ | 10,954 | $ | 638 | $ | (1) | $ | 11,591 | |||||||||||||||||||||
Legacy Franchises consumer | 2,019 | (151) | (454) | 1,414 | (25) | 3 | 1,392 | ||||||||||||||||||||||||||||
Total consumer ACLL | $ | 14,040 | $ | (1,213) | $ | (459) | $ | 12,368 | $ | 613 | $ | 2 | $ | 12,983 | 3.65 | % | |||||||||||||||||||
Total ACLL | $ | 16,455 | $ | (612) | $ | (450) | $ | 15,393 | $ | 534 | $ | 25 | $ | 15,952 | 2.44 | % | |||||||||||||||||||
Allowance for credit losses on unfunded lending commitments (ACLUC) | $ | 1,871 | $ | 474 | $ | (2) | $ | 2,343 | $ | (159) | $ | 9 | $ | 2,193 | |||||||||||||||||||||
Total ACLL and ACLUC | $ | 18,326 | $ | (138) | $ | (452) | $ | 17,736 | $ | 375 | $ | 34 | $ | 18,145 | |||||||||||||||||||||
Other(2) | 148 | (6) | (6) | 136 | 27 | 16 | 179 | ||||||||||||||||||||||||||||
Total ACL | $ | 18,474 | $ | (144) | $ | (458) | $ | 17,872 | $ | 402 | $ | 50 | $ | 18,324 |
Quarterly average | ||||||||||||||
U.S. unemployment | 4Q21 | 2Q22 | 4Q22 | 13-quarter average(1) | ||||||||||
Citi forecast at 3Q20 | 6.4 | % | 6.1 | % | 5.7 | % | 6.6 | % | ||||||
Citi forecast at 4Q20 | 6.3 | 6.1 | 5.7 | 6.1 | ||||||||||
Citi forecast at 1Q21 | 4.9 | 4.1 | 3.8 | 4.3 | ||||||||||
Citi forecast at 2Q21 | 4.6 | 4.1 | 3.9 | 4.1 | ||||||||||
Citi forecast at 3Q21 | 4.5 | 4.1 | 3.9 | 4.0 |
Quarterly average | ||||||||||||||
U.S. unemployment | 3Q22 | 1Q23 | 3Q23 | 8-quarter average(1) | ||||||||||
Citi forecast at 2Q21 | 4.0 | % | 3.8 | % | 3.6 | % | 4.2 | % | ||||||
Citi forecast at 3Q21 | 3.9 | 3.9 | 3.8 | 4.0 | ||||||||||
Citi forecast at 4Q21 | 3.9 | 3.7 | 3.7 | 3.8 | ||||||||||
Citi forecast at 1Q22 | 3.6 | 3.5 | 3.5 | 3.6 | ||||||||||
Citi forecast at 2Q22 | 3.5 | 3.6 | 3.8 | 3.7 |
Year-over-year growth rate(1) | Year-over-year growth rate(1) | |||||||||||||||||||||
Full year | Full year | |||||||||||||||||||||
U.S. Real GDP | U.S. Real GDP | 2021 | 2022 | 2023 | U.S. Real GDP | 2022 | 2023 | 2024 | ||||||||||||||
Citi forecast at 3Q20 | 3.3 | % | 2.8 | % | 2.6 | % | ||||||||||||||||
Citi forecast at 4Q20 | 3.7 | 2.7 | 2.6 | |||||||||||||||||||
Citi forecast at 1Q21 | 6.2 | 4.1 | 1.9 | |||||||||||||||||||
Citi forecast at 2Q21 | Citi forecast at 2Q21 | 6.2 | 3.7 | 1.9 | Citi forecast at 2Q21 | 3.7 | % | 2.0 | % | 1.8 | % | |||||||||||
Citi forecast at 3Q21 | Citi forecast at 3Q21 | 5.9 | 3.9 | 2.1 | Citi forecast at 3Q21 | 3.9 | 2.1 | 1.8 | ||||||||||||||
Citi forecast at 4Q21 | Citi forecast at 4Q21 | 4.0 | 2.2 | 1.8 | ||||||||||||||||||
Citi forecast at 1Q22 | Citi forecast at 1Q22 | 3.3 | 2.4 | 2.1 | ||||||||||||||||||
Citi forecast at 2Q22 | Citi forecast at 2Q22 | 2.6 | 1.8 | 2.0 |
Jurisdiction/Component | DTAs balance | ||||||||||
In billions of dollars | September 30, 2021 | December 31, 2020 | |||||||||
Total U.S. | $ | 21.7 | $ | 22.2 | |||||||
Total foreign | 2.8 | 2.6 | |||||||||
Total | $ | 24.5 | $ | 24.8 |
Jurisdiction/Component | DTAs balance | ||||||||||
In billions of dollars | June 30, 2022 | December 31, 2021 | |||||||||
Total U.S. | $ | 23.7 | $ | 22.1 | |||||||
Total foreign | 2.8 | 2.7 | |||||||||
Total | $ | 26.5 | $ | 24.8 |
CONSOLIDATED FINANCIAL STATEMENTS | |||||
Consolidated Statement of Income (Unaudited)— For the Three and | |||||
Consolidated Statement of Comprehensive Income (Unaudited)—For the Three and | |||||
Consolidated Balance Sheet— | |||||
Consolidated Statement of Changes in Stockholders’ Equity (Unaudited)—For the Three and | |||||
Consolidated Statement of Cash Flows (Unaudited)— For the |
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) | ||||||||
Note 1—Basis of Presentation, Updated Accounting Policies and Accounting Changes | ||||||||
Note 2—Discontinued Operations, Significant Disposals and Other Business Exits | ||||||||
Note 3— | ||||||||
Note 4—Interest Revenue and Expense | ||||||||
Note 5—Commissions and Fees; Administration and Other Fiduciary Fees | ||||||||
Note 6—Principal Transactions | ||||||||
Note 7—Incentive Plans | ||||||||
Note 8—Retirement Benefits | ||||||||
Note 9—Earnings per Share | ||||||||
Note 10—Securities Borrowed, Loaned and Subject to Repurchase Agreements | ||||||||
Note 11—Brokerage Receivables and Brokerage Payables | ||||||||
Note 12—Investments |
Note 13—Loans | |||||
Note 14—Allowance for Credit Losses | |||||
Note 15—Goodwill and Intangible Assets | |||||
Note 16—Debt | |||||
Note 17—Changes in Accumulated Other Comprehensive Income (Loss) (AOCI) | |||||
Note 18—Securitizations and Variable Interest Entities | |||||
Note 19—Derivatives | |||||
Note 20—Fair Value Measurement | |||||
Note 21—Fair Value Elections | |||||
Note 22—Guarantees, Leases and Commitments | |||||
Note 23—Contingencies | |||||
Note 24—Condensed Consolidating Financial Statements |
CONSOLIDATED STATEMENT OF INCOME (UNAUDITED) | Citigroup Inc. and Subsidiaries |
Three Months Ended September 30, | Nine Months Ended September 30, | Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||||||||||||
In millions of dollars, except per share amounts | In millions of dollars, except per share amounts | 2021 | 2020 | 2021 | 2020 | In millions of dollars, except per share amounts | 2022 | 2021 | 2022 | 2021 | ||||||||||||||||||
Revenues | Revenues | Revenues | ||||||||||||||||||||||||||
Interest revenue | Interest revenue | $ | 12,650 | $ | 13,314 | $ | 37,647 | $ | 45,042 | Interest revenue | $ | 15,630 | $ | 12,463 | $ | 28,781 | $ | 24,997 | ||||||||||
Interest expense | Interest expense | 2,252 | 2,821 | 6,884 | 11,977 | Interest expense | 3,666 | 1,985 | 5,946 | 4,013 | ||||||||||||||||||
Net interest revenue | $ | 10,398 | $ | 10,493 | $ | 30,763 | $ | 33,065 | ||||||||||||||||||||
Net interest income | Net interest income | $ | 11,964 | $ | 10,478 | $ | 22,835 | $ | 20,984 | |||||||||||||||||||
Commissions and fees | Commissions and fees | $ | 3,399 | $ | 2,753 | $ | 10,443 | $ | 8,707 | Commissions and fees | $ | 2,452 | $ | 3,374 | $ | 5,020 | $ | 7,044 | ||||||||||
Principal transactions | Principal transactions | 2,233 | 2,508 | 8,450 | 11,926 | Principal transactions | 4,525 | 2,304 | 9,115 | 6,217 | ||||||||||||||||||
Administration and other fiduciary fees | Administration and other fiduciary fees | 1,007 | 892 | 2,990 | 2,565 | Administration and other fiduciary fees | 1,023 | 1,022 | 1,989 | 1,983 | ||||||||||||||||||
Realized gains on sales of investments, net | 117 | 304 | 655 | 1,484 | ||||||||||||||||||||||||
Realized gains (losses) on sales of investments, net | Realized gains (losses) on sales of investments, net | (58) | 137 | 22 | 538 | |||||||||||||||||||||||
Impairment losses on investments: | Impairment losses on investments: | Impairment losses on investments: | ||||||||||||||||||||||||||
Impairment losses on investments and other assets | Impairment losses on investments and other assets | (30) | (30) | (112) | (154) | Impairment losses on investments and other assets | (96) | (13) | (186) | (82) | ||||||||||||||||||
Provision for credit losses on AFS debt securities(1) | Provision for credit losses on AFS debt securities(1) | (1) | 4 | (1) | (4) | Provision for credit losses on AFS debt securities(1) | 2 | — | 2 | — | ||||||||||||||||||
Net impairment losses recognized in earnings | Net impairment losses recognized in earnings | $ | (31) | $ | (26) | $ | (113) | $ | (158) | Net impairment losses recognized in earnings | (94) | (13) | (184) | (82) | ||||||||||||||
Other revenue | Other revenue | $ | 31 | $ | 378 | $ | 767 | $ | 210 | Other revenue | $ | (174) | $ | 451 | $ | 27 | $ | 736 | ||||||||||
Total non-interest revenues | Total non-interest revenues | $ | 6,756 | $ | 6,809 | $ | 23,192 | $ | 24,734 | Total non-interest revenues | $ | 7,674 | $ | 7,275 | $ | 15,989 | $ | 16,436 | ||||||||||
Total revenues, net of interest expense | Total revenues, net of interest expense | $ | 17,154 | $ | 17,302 | $ | 53,955 | $ | 57,799 | Total revenues, net of interest expense | $ | 19,638 | $ | 17,753 | $ | 38,824 | $ | 37,420 | ||||||||||
Provisions for credit losses and for benefits and claims | Provisions for credit losses and for benefits and claims | Provisions for credit losses and for benefits and claims | ||||||||||||||||||||||||||
Provision for credit losses on loans | Provision for credit losses on loans | $ | (188) | $ | 1,931 | $ | (2,793) | $ | 16,298 | Provision for credit losses on loans | $ | 1,384 | $ | (1,126) | $ | 1,644 | $ | (2,605) | ||||||||||
Provision for credit losses on held-to-maturity (HTM) debt securities | Provision for credit losses on held-to-maturity (HTM) debt securities | (10) | (16) | (17) | 21 | Provision for credit losses on held-to-maturity (HTM) debt securities | 20 | 4 | 18 | (7) | ||||||||||||||||||
Provision for credit losses on other assets | Provision for credit losses on other assets | (3) | (13) | 3 | 31 | Provision for credit losses on other assets | 7 | (3) | 3 | 6 | ||||||||||||||||||
Policyholder benefits and claims | Policyholder benefits and claims | 22 | 58 | 89 | 97 | Policyholder benefits and claims | 22 | 15 | 49 | 67 | ||||||||||||||||||
Provision for credit losses on unfunded lending commitments | Provision for credit losses on unfunded lending commitments | (13) | 424 | (595) | 1,094 | Provision for credit losses on unfunded lending commitments | (159) | 44 | 315 | (582) | ||||||||||||||||||
Total provisions for credit losses and for benefits and claims(2) | Total provisions for credit losses and for benefits and claims(2) | $ | (192) | $ | 2,384 | $ | (3,313) | $ | 17,541 | Total provisions for credit losses and for benefits and claims(2) | $ | 1,274 | $ | (1,066) | $ | 2,029 | $ | (3,121) | ||||||||||
Operating expenses | Operating expenses | Operating expenses | ||||||||||||||||||||||||||
Compensation and benefits | Compensation and benefits | $ | 6,058 | $ | 5,595 | $ | 18,041 | $ | 16,873 | Compensation and benefits | $ | 6,472 | $ | 5,982 | $ | 13,292 | $ | 11,983 | ||||||||||
Premises and equipment | Premises and equipment | 560 | 575 | 1,694 | 1,702 | Premises and equipment | 619 | 558 | 1,162 | 1,134 | ||||||||||||||||||
Technology/communication | Technology/communication | 1,997 | 1,891 | 5,744 | 5,355 | Technology/communication | 2,068 | 1,895 | 4,084 | 3,747 | ||||||||||||||||||
Advertising and marketing | Advertising and marketing | 402 | 238 | 1,012 | 865 | Advertising and marketing | 414 | 340 | 725 | 610 | ||||||||||||||||||
Other operating | Other operating | 2,467 | 2,665 | 7,258 | 7,272 | Other operating | 2,820 | 2,696 | 6,295 | 5,410 | ||||||||||||||||||
Total operating expenses | Total operating expenses | $ | 11,484 | $ | 10,964 | $ | 33,749 | $ | 32,067 | Total operating expenses | $ | 12,393 | $ | 11,471 | $ | 25,558 | $ | 22,884 | ||||||||||
Income from continuing operations before income taxes | Income from continuing operations before income taxes | $ | 5,862 | $ | 3,954 | $ | 23,519 | $ | 8,191 | Income from continuing operations before income taxes | $ | 5,971 | $ | 7,348 | $ | 11,237 | $ | 17,657 | ||||||||||
Provision for income taxes | Provision for income taxes | 1,193 | 777 | 4,680 | 1,409 | Provision for income taxes | 1,182 | 1,155 | 2,123 | 3,487 | ||||||||||||||||||
Income from continuing operations | Income from continuing operations | $ | 4,669 | $ | 3,177 | $ | 18,839 | $ | 6,782 | Income from continuing operations | $ | 4,789 | $ | 6,193 | $ | 9,114 | $ | 14,170 | ||||||||||
Discontinued operations | Discontinued operations | Discontinued operations | ||||||||||||||||||||||||||
Income (loss) from discontinued operations | Income (loss) from discontinued operations | $ | (1) | $ | (7) | $ | 7 | $ | (26) | Income (loss) from discontinued operations | $ | (262) | $ | 10 | $ | (264) | $ | 8 | ||||||||||
Benefit for income taxes | Benefit for income taxes | — | — | — | — | Benefit for income taxes | (41) | — | (41) | — | ||||||||||||||||||
Income (loss) from discontinued operations, net of taxes | Income (loss) from discontinued operations, net of taxes | $ | (1) | $ | (7) | $ | 7 | $ | (26) | Income (loss) from discontinued operations, net of taxes | $ | (221) | $ | 10 | $ | (223) | $ | 8 | ||||||||||
Net income before attribution of noncontrolling interests | $ | 4,668 | $ | 3,170 | $ | 18,846 | $ | 6,756 | ||||||||||||||||||||
Net income before attribution to noncontrolling interests | Net income before attribution to noncontrolling interests | $ | 4,568 | $ | 6,203 | $ | 8,891 | $ | 14,178 | |||||||||||||||||||
Noncontrolling interests | Noncontrolling interests | 24 | 24 | 67 | 18 | Noncontrolling interests | 21 | 10 | 38 | 43 | ||||||||||||||||||
Citigroup’s net income | Citigroup’s net income | $ | 4,644 | $ | 3,146 | $ | 18,779 | $ | 6,738 | Citigroup’s net income | $ | 4,547 | $ | 6,193 | $ | 8,853 | $ | 14,135 | ||||||||||
Basic earnings per share(3) | Basic earnings per share(3) | Basic earnings per share(3) | ||||||||||||||||||||||||||
Income from continuing operations | Income from continuing operations | $ | 2.17 | $ | 1.37 | $ | 8.70 | $ | 2.82 | Income from continuing operations | $ | 2.32 | $ | 2.86 | $ | 4.34 | $ | 6.51 | ||||||||||
Income from discontinued operations, net of taxes | Income from discontinued operations, net of taxes | — | — | — | (0.01) | Income from discontinued operations, net of taxes | (0.11) | — | (0.11) | — | ||||||||||||||||||
Net income | Net income | $ | 2.17 | $ | 1.37 | $ | 8.70 | $ | 2.81 | Net income | $ | 2.20 | $ | 2.87 | $ | 4.23 | $ | 6.52 | ||||||||||
Weighted average common shares outstanding (in millions) | Weighted average common shares outstanding (in millions) | 2,009.3 | 2,081.8 | 2,049.3 | 2,087.1 | Weighted average common shares outstanding (in millions) | 1,941.5 | 2,056.5 | 1,956.6 | 2,069.3 | ||||||||||||||||||
Diluted earnings per share(3) | Diluted earnings per share(3) | Diluted earnings per share(3) | ||||||||||||||||||||||||||
Income from continuing operations | Income from continuing operations | $ | 2.15 | $ | 1.36 | $ | 8.64 | $ | 2.81 | Income from continuing operations | $ | 2.30 | $ | 2.84 | $ | 4.32 | $ | 6.47 | ||||||||||
Income (loss) from discontinued operations, net of taxes | Income (loss) from discontinued operations, net of taxes | — | — | — | (0.01) | Income (loss) from discontinued operations, net of taxes | (0.11) | — | (0.11) | — | ||||||||||||||||||
Net income | Net income | $ | 2.15 | $ | 1.36 | $ | 8.65 | $ | 2.80 | Net income | $ | 2.19 | $ | 2.85 | $ | 4.20 | $ | 6.47 | ||||||||||
Adjusted weighted average common shares outstanding (in millions) | Adjusted weighted average common shares outstanding (in millions) | 2,026.2 | 2,094.3 | 2,065.3 | 2,100.1 | Adjusted weighted average common shares outstanding (in millions) | 1,958.1 | 2,073.0 | 1,973.2 | 2,084.8 |
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME | Citigroup Inc. and Subsidiaries | |||||||
(UNAUDITED) |
Three Months Ended September 30, | Nine Months Ended September 30, | Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||||||||||||
In millions of dollars | In millions of dollars | 2021 | 2020 | 2021 | 2020 | In millions of dollars | 2022 | 2021 | 2022 | 2021 | ||||||||||||||||||
Citigroup’s net income | Citigroup’s net income | $ | 4,644 | $ | 3,146 | $ | 18,779 | $ | 6,738 | Citigroup’s net income | $ | 4,547 | $ | 6,193 | $ | 8,853 | $ | 14,135 | ||||||||||
Add: Citigroup’s other comprehensive income(1) | Add: Citigroup’s other comprehensive income(1) | Add: Citigroup’s other comprehensive income(1) | ||||||||||||||||||||||||||
Net change in unrealized gains and losses on debt securities, net of taxes(1) | Net change in unrealized gains and losses on debt securities, net of taxes(1) | $ | (279) | $ | (282) | $ | (2,538) | $ | 3,683 | Net change in unrealized gains and losses on debt securities, net of taxes(1) | $ | (1,501) | $ | (474) | $ | (5,778) | $ | (2,259) | ||||||||||
Net change in debt valuation adjustment (DVA), net of taxes(2) | Net change in debt valuation adjustment (DVA), net of taxes(2) | (82) | (307) | (186) | 601 | Net change in debt valuation adjustment (DVA), net of taxes(2) | 1,967 | (62) | 2,760 | (104) | ||||||||||||||||||
Net change in cash flow hedges, net of taxes | Net change in cash flow hedges, net of taxes | (201) | (235) | (930) | 1,736 | Net change in cash flow hedges, net of taxes | (666) | (173) | (2,207) | (729) | ||||||||||||||||||
Benefit plans liability adjustment, net of taxes | Benefit plans liability adjustment, net of taxes | 135 | 246 | 936 | (117) | Benefit plans liability adjustment, net of taxes | (89) | 87 | 82 | 801 | ||||||||||||||||||
Net change in foreign currency translation adjustment, net of taxes and hedges | Net change in foreign currency translation adjustment, net of taxes and hedges | (1,312) | 897 | (2,063) | (2,651) | Net change in foreign currency translation adjustment, net of taxes and hedges | (1,630) | 523 | (1,644) | (751) | ||||||||||||||||||
Net change in excluded component of fair value hedges, net of taxes | Net change in excluded component of fair value hedges, net of taxes | 8 | (39) | (12) | 1 | Net change in excluded component of fair value hedges, net of taxes | 9 | (10) | 57 | (20) | ||||||||||||||||||
Citigroup’s total other comprehensive income (loss) | Citigroup’s total other comprehensive income (loss) | $ | (1,731) | $ | 280 | $ | (4,793) | $ | 3,253 | Citigroup’s total other comprehensive income (loss) | $ | (1,910) | $ | (109) | $ | (6,730) | $ | (3,062) | ||||||||||
Citigroup’s total comprehensive income | Citigroup’s total comprehensive income | $ | 2,913 | $ | 3,426 | $ | 13,986 | $ | 9,991 | Citigroup’s total comprehensive income | $ | 2,637 | $ | 6,084 | $ | 2,123 | $ | 11,073 | ||||||||||
Add: Other comprehensive loss attributable to noncontrolling interests | $ | (31) | $ | 19 | $ | (71) | $ | 7 | ||||||||||||||||||||
Add: Other comprehensive income (loss) attributable to noncontrolling interests | Add: Other comprehensive income (loss) attributable to noncontrolling interests | $ | (53) | $ | 18 | $ | (82) | $ | (40) | |||||||||||||||||||
Add: Net income (loss) attributable to noncontrolling interests | Add: Net income (loss) attributable to noncontrolling interests | 24 | 24 | 67 | 18 | Add: Net income (loss) attributable to noncontrolling interests | 21 | 10 | 38 | 43 | ||||||||||||||||||
Total comprehensive income | Total comprehensive income | $ | 2,906 | $ | 3,469 | $ | 13,982 | $ | 10,016 | Total comprehensive income | $ | 2,605 | $ | 6,112 | $ | 2,079 | $ | 11,076 |
CONSOLIDATED BALANCE SHEET | Citigroup Inc. and Subsidiaries |
September 30, | June 30, | |||||||||||||||
2021 | December 31, | 2022 | December 31, | |||||||||||||
In millions of dollars | In millions of dollars | (Unaudited) | 2020 | In millions of dollars | (Unaudited) | 2021 | ||||||||||
Assets | Assets | Assets | ||||||||||||||
Cash and due from banks (including segregated cash and other deposits) | Cash and due from banks (including segregated cash and other deposits) | $ | 28,906 | $ | 26,349 | Cash and due from banks (including segregated cash and other deposits) | $ | 24,902 | $ | 27,515 | ||||||
Deposits with banks, net of allowance | Deposits with banks, net of allowance | 294,902 | 283,266 | Deposits with banks, net of allowance | 259,128 | 234,518 | ||||||||||
Securities borrowed and purchased under agreements to resell (including $212,200 and $185,204 as of September 30, 2021 and December 31, 2020, respectively, at fair value), net of allowance | 337,696 | 294,712 | ||||||||||||||
Securities borrowed and purchased under agreements to resell (including $242,760 and $216,466 as of June 30, 2022 and December 31, 2021, respectively, at fair value), net of allowance | Securities borrowed and purchased under agreements to resell (including $242,760 and $216,466 as of June 30, 2022 and December 31, 2021, respectively, at fair value), net of allowance | 361,334 | 327,288 | |||||||||||||
Brokerage receivables, net of allowance | Brokerage receivables, net of allowance | 59,487 | 44,806 | Brokerage receivables, net of allowance | 80,486 | 54,340 | ||||||||||
Trading account assets (including $142,662 and $168,967 pledged to creditors at September 30, 2021 and December 31, 2020, respectively) | 342,914 | 375,079 | ||||||||||||||
Trading account assets (including $128,223 and $133,828 pledged to creditors at June 30, 2022 and December 31, 2021, respectively) | Trading account assets (including $128,223 and $133,828 pledged to creditors at June 30, 2022 and December 31, 2021, respectively) | 340,875 | 331,945 | |||||||||||||
Investments: | Investments: | Investments: | ||||||||||||||
Available-for-sale debt securities (including $8,685 and $5,921 pledged to creditors as of September 30, 2021 and December 31, 2020, respectively), net of allowance | 295,573 | 335,084 | ||||||||||||||
Held-to-maturity debt securities (including $1,257 and $547 pledged to creditors as of September 30, 2021 and December 31, 2020, respectively), net of allowance | 198,056 | 104,943 | ||||||||||||||
Equity securities (including $918 and $1,066 at fair value as of September 30, 2021 and December 31, 2020, respectively) | 7,220 | 7,332 | ||||||||||||||
Available-for-sale debt securities (including $7,070 and $9,226 pledged to creditors as of June 30, 2022 and December 31, 2021, respectively), net of allowance | Available-for-sale debt securities (including $7,070 and $9,226 pledged to creditors as of June 30, 2022 and December 31, 2021, respectively), net of allowance | 238,499 | 288,522 | |||||||||||||
Held-to-maturity debt securities (including $35 and $1,460 pledged to creditors as of June 30, 2022 and December 31, 2021, respectively), net of allowance | Held-to-maturity debt securities (including $35 and $1,460 pledged to creditors as of June 30, 2022 and December 31, 2021, respectively), net of allowance | 267,592 | 216,963 | |||||||||||||
Equity securities (including $1,046 and $1,032 at fair value as of June 30, 2022 and December 31, 2021, respectively) | Equity securities (including $1,046 and $1,032 at fair value as of June 30, 2022 and December 31, 2021, respectively) | 7,787 | 7,337 | |||||||||||||
Total investments | Total investments | $ | 500,849 | $ | 447,359 | Total investments | $ | 513,878 | $ | 512,822 | ||||||
Loans: | Loans: | Loans: | ||||||||||||||
Consumer (including $13 and $14 as of September 30, 2021 and December 31, 2020, respectively, at fair value) | 264,250 | 288,839 | ||||||||||||||
Corporate (including $7,146 and $6,840 as of September 30, 2021 and December 31, 2020, respectively, at fair value) | 400,514 | 387,044 | ||||||||||||||
Consumer (including $8 and $12 as of June 30, 2022 and December 31, 2021, respectively, at fair value) | Consumer (including $8 and $12 as of June 30, 2022 and December 31, 2021, respectively, at fair value) | 355,605 | 376,534 | |||||||||||||
Corporate (including $4,528 and $6,070 as of June 30, 2022 and December 31, 2021, respectively, at fair value) | Corporate (including $4,528 and $6,070 as of June 30, 2022 and December 31, 2021, respectively, at fair value) | 301,728 | 291,233 | |||||||||||||
Loans, net of unearned income | Loans, net of unearned income | $ | 664,764 | $ | 675,883 | Loans, net of unearned income | $ | 657,333 | $ | 667,767 | ||||||
Allowance for credit losses on loans (ACLL) | Allowance for credit losses on loans (ACLL) | (17,715) | (24,956) | Allowance for credit losses on loans (ACLL) | (15,952) | (16,455) | ||||||||||
Total loans, net | Total loans, net | $ | 647,049 | $ | 650,927 | Total loans, net | $ | 641,381 | $ | 651,312 | ||||||
Goodwill | Goodwill | 21,573 | 22,162 | Goodwill | 19,597 | 21,299 | ||||||||||
Intangible assets (including MSRs of $409 and $336 as of September 30, 2021 and December 31, 2020, respectively, at fair value) | 4,553 | 4,747 | ||||||||||||||
Other assets (including $11,895 and $14,613 as of September 30, 2021 and December 31, 2020, respectively, at fair value), net of allowance | 123,947 | 110,683 | ||||||||||||||
Intangible assets (including MSRs of $600 and $404 as of June 30, 2022 and December 31, 2021, respectively, at fair value) | Intangible assets (including MSRs of $600 and $404 as of June 30, 2022 and December 31, 2021, respectively, at fair value) | 4,526 | 4,495 | |||||||||||||
Other assets (including $10,085 and $12,342 as of June 30, 2022 and December 31, 2021, respectively, at fair value), net of allowance | Other assets (including $10,085 and $12,342 as of June 30, 2022 and December 31, 2021, respectively, at fair value), net of allowance | 134,797 | 125,879 | |||||||||||||
Total assets | Total assets | $ | 2,361,876 | $ | 2,260,090 | Total assets | $ | 2,380,904 | $ | 2,291,413 |
September 30, | June 30, | |||||||||||||||
2021 | December 31, | 2022 | December 31, | |||||||||||||
In millions of dollars | In millions of dollars | (Unaudited) | 2020 | In millions of dollars | (Unaudited) | 2021 | ||||||||||
Assets of consolidated VIEs to be used to settle obligations of consolidated VIEs | Assets of consolidated VIEs to be used to settle obligations of consolidated VIEs | Assets of consolidated VIEs to be used to settle obligations of consolidated VIEs | ||||||||||||||
Cash and due from banks | Cash and due from banks | $ | 194 | $ | 281 | Cash and due from banks | $ | 94 | $ | 260 | ||||||
Trading account assets | Trading account assets | 10,433 | 8,104 | Trading account assets | 9,072 | 10,038 | ||||||||||
Investments | Investments | 897 | 837 | Investments | 596 | 844 | ||||||||||
Loans, net of unearned income | Loans, net of unearned income | Loans, net of unearned income | ||||||||||||||
Consumer | Consumer | 33,497 | 37,561 | Consumer | 34,243 | 34,677 | ||||||||||
Corporate | Corporate | 12,760 | 17,027 | Corporate | 14,537 | 14,312 | ||||||||||
Loans, net of unearned income | Loans, net of unearned income | $ | 46,257 | $ | 54,588 | Loans, net of unearned income | $ | 48,780 | $ | 48,989 | ||||||
Allowance for credit losses on loans (ACLL) | Allowance for credit losses on loans (ACLL) | (2,998) | (3,794) | Allowance for credit losses on loans (ACLL) | (2,460) | (2,668) | ||||||||||
Total loans, net | Total loans, net | $ | 43,259 | $ | 50,794 | Total loans, net | $ | 46,320 | $ | 46,321 | ||||||
Other assets | Other assets | 1,186 | 43 | Other assets | 52 | 1,174 | ||||||||||
Total assets of consolidated VIEs to be used to settle obligations of consolidated VIEs | Total assets of consolidated VIEs to be used to settle obligations of consolidated VIEs | $ | 55,969 | $ | 60,059 | Total assets of consolidated VIEs to be used to settle obligations of consolidated VIEs | $ | 56,134 | $ | 58,637 |
September 30, | June 30, | |||||||||||||||
2021 | December 31, | 2022 | December 31, | |||||||||||||
In millions of dollars, except shares and per share amounts | In millions of dollars, except shares and per share amounts | (Unaudited) | 2020 | In millions of dollars, except shares and per share amounts | (Unaudited) | 2021 | ||||||||||
Liabilities | Liabilities | Liabilities | ||||||||||||||
Non-interest-bearing deposits in U.S. offices | Non-interest-bearing deposits in U.S. offices | $ | 145,103 | $ | 126,942 | Non-interest-bearing deposits in U.S. offices | $ | 147,214 | $ | 158,552 | ||||||
Interest-bearing deposits in U.S. offices (including $910 and $879 as of September 30, 2021 and December 31, 2020, respectively, at fair value) | 567,902 | 503,213 | ||||||||||||||
Interest-bearing deposits in U.S. offices (including $856 and $879 as of June 30, 2022 and December 31, 2021, respectively, at fair value) | Interest-bearing deposits in U.S. offices (including $856 and $879 as of June 30, 2022 and December 31, 2021, respectively, at fair value) | 565,785 | 543,283 | |||||||||||||
Non-interest-bearing deposits in offices outside the U.S. | Non-interest-bearing deposits in offices outside the U.S. | 94,016 | 100,543 | Non-interest-bearing deposits in offices outside the U.S. | 100,266 | 97,270 | ||||||||||
Interest-bearing deposits in offices outside the U.S. (including $1,803 and $1,079 as of September 30, 2021 and December 31, 2020, respectively, at fair value) | 540,507 | 549,973 | ||||||||||||||
Interest-bearing deposits in offices outside the U.S. (including $1,452 and $787 as of June 30, 2022 and December 31, 2021, respectively, at fair value) | Interest-bearing deposits in offices outside the U.S. (including $1,452 and $787 as of June 30, 2022 and December 31, 2021, respectively, at fair value) | 508,583 | 518,125 | |||||||||||||
Total deposits | Total deposits | $ | 1,347,528 | $ | 1,280,671 | Total deposits | $ | 1,321,848 | $ | 1,317,230 | ||||||
Securities loaned and sold under agreements to repurchase (including $75,262 and $60,206 as of September 30, 2021 and December 31, 2020, respectively, at fair value) | 209,184 | 199,525 | ||||||||||||||
Brokerage payables (including $3,423 and $6,835 as of September 30, 2021 and December 31, 2020, respectively, at fair value) | 60,501 | 50,484 | ||||||||||||||
Securities loaned and sold under agreements to repurchase (including $64,574 and $56,694 as of June 30, 2022 and December 31, 2021, respectively, at fair value) | Securities loaned and sold under agreements to repurchase (including $64,574 and $56,694 as of June 30, 2022 and December 31, 2021, respectively, at fair value) | 198,472 | 191,285 | |||||||||||||
Brokerage payables (including $3,288 and $3,575 as of June 30, 2022 and December 31, 2021, respectively, at fair value) | Brokerage payables (including $3,288 and $3,575 as of June 30, 2022 and December 31, 2021, respectively, at fair value) | 96,474 | 61,430 | |||||||||||||
Trading account liabilities | Trading account liabilities | 179,286 | 168,027 | Trading account liabilities | 180,453 | 161,529 | ||||||||||
Short-term borrowings (including $8,814 and $4,683 as of September 30, 2021 and December 31, 2020, respectively, at fair value) | 29,683 | 29,514 | ||||||||||||||
Long-term debt (including $78,178 and $67,063 as of September 30, 2021 and December 31, 2020, respectively, at fair value) | 258,274 | 271,686 | ||||||||||||||
Other liabilities, net of allowance | 75,810 | 59,983 | ||||||||||||||
Short-term borrowings (including $6,852 and $7,358 as of June 30, 2022 and December 31, 2021, respectively, at fair value) | Short-term borrowings (including $6,852 and $7,358 as of June 30, 2022 and December 31, 2021, respectively, at fair value) | 40,054 | 27,973 | |||||||||||||
Long-term debt (including $89,388 and $82,609 as of June 30, 2022 and December 31, 2021, respectively, at fair value) | Long-term debt (including $89,388 and $82,609 as of June 30, 2022 and December 31, 2021, respectively, at fair value) | 257,425 | 254,374 | |||||||||||||
Other liabilities | Other liabilities | 86,552 | 74,920 | |||||||||||||
Total liabilities | Total liabilities | $ | 2,160,266 | $ | 2,059,890 | Total liabilities | $ | 2,181,278 | $ | 2,088,741 | ||||||
Stockholders’ equity | Stockholders’ equity | Stockholders’ equity | ||||||||||||||
Preferred stock ($1.00 par value; authorized shares: 30 million), issued shares: as of September 30, 2021—719,800 and as of December 31, 2020—779,200, at aggregate liquidation value | $ | 17,995 | $ | 19,480 | ||||||||||||
Common stock ($0.01 par value; authorized shares: 6 billion), issued shares: as of September 30, 2021—3,099,651,835 and as of December 31, 2020—3,099,763,661 | 31 | 31 | ||||||||||||||
Preferred stock ($1.00 par value; authorized shares: 30 million), issued shares: as of June 30, 2022—759,800 and as of December 31, 2021—759,800, at aggregate liquidation value | Preferred stock ($1.00 par value; authorized shares: 30 million), issued shares: as of June 30, 2022—759,800 and as of December 31, 2021—759,800, at aggregate liquidation value | $ | 18,995 | $ | 18,995 | |||||||||||
Common stock ($0.01 par value; authorized shares: 6 billion), issued shares: as of June 30, 2022—3,099,669,331 and as of December 31, 2021—3,099,651,835 | Common stock ($0.01 par value; authorized shares: 6 billion), issued shares: as of June 30, 2022—3,099,669,331 and as of December 31, 2021—3,099,651,835 | 31 | 31 | |||||||||||||
Additional paid-in capital | Additional paid-in capital | 107,922 | 107,846 | Additional paid-in capital | 108,210 | 108,003 | ||||||||||
Retained earnings | Retained earnings | 183,024 | 168,272 | Retained earnings | 191,261 | 184,948 | ||||||||||
Treasury stock, at cost: September 30, 2021—1,115,384,596 shares and December 31, 2020—1,017,674,452 shares | (71,246) | (64,129) | ||||||||||||||
Treasury stock, at cost: June 30, 2022—1,162,959,708 shares and December 31, 2021—1,115,296,641 shares | Treasury stock, at cost: June 30, 2022—1,162,959,708 shares and December 31, 2021—1,115,296,641 shares | (73,988) | (71,240) | |||||||||||||
Accumulated other comprehensive income (loss) (AOCI) | Accumulated other comprehensive income (loss) (AOCI) | (36,851) | (32,058) | Accumulated other comprehensive income (loss) (AOCI) | (45,495) | (38,765) | ||||||||||
Total Citigroup stockholders’ equity | Total Citigroup stockholders’ equity | $ | 200,875 | $ | 199,442 | Total Citigroup stockholders’ equity | $ | 199,014 | $ | 201,972 | ||||||
Noncontrolling interests | Noncontrolling interests | 735 | 758 | Noncontrolling interests | 612 | 700 | ||||||||||
Total equity | Total equity | $ | 201,610 | $ | 200,200 | Total equity | $ | 199,626 | $ | 202,672 | ||||||
Total liabilities and equity | Total liabilities and equity | $ | 2,361,876 | $ | 2,260,090 | Total liabilities and equity | $ | 2,380,904 | $ | 2,291,413 |
September 30, | June 30, | |||||||||||||||
2021 | December 31, | 2022 | December 31, | |||||||||||||
In millions of dollars | In millions of dollars | (Unaudited) | 2020 | In millions of dollars | (Unaudited) | 2021 | ||||||||||
Liabilities of consolidated VIEs for which creditors or beneficial interest holders do not have recourse to the general credit of Citigroup | Liabilities of consolidated VIEs for which creditors or beneficial interest holders do not have recourse to the general credit of Citigroup | Liabilities of consolidated VIEs for which creditors or beneficial interest holders do not have recourse to the general credit of Citigroup | ||||||||||||||
Short-term borrowings | Short-term borrowings | $ | 9,472 | $ | 9,278 | Short-term borrowings | $ | 8,105 | $ | 8,376 | ||||||
Long-term debt | Long-term debt | 13,917 | 20,405 | Long-term debt | 12,511 | 12,579 | ||||||||||
Other liabilities | Other liabilities | 751 | 463 | Other liabilities | 238 | 694 | ||||||||||
Total liabilities of consolidated VIEs for which creditors or beneficial interest holders do not have recourse to the general credit of Citigroup | Total liabilities of consolidated VIEs for which creditors or beneficial interest holders do not have recourse to the general credit of Citigroup | $ | 24,140 | $ | 30,146 | Total liabilities of consolidated VIEs for which creditors or beneficial interest holders do not have recourse to the general credit of Citigroup | $ | 20,854 | $ | 21,649 |
CONSOLIDATED STATEMENT OF CHANGES IN STOCKHOLDERS’ EQUITY (UNAUDITED) | Citigroup Inc. and Subsidiaries |
Three Months Ended September 30, | Nine Months Ended September 30, | Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||||||||||||
In millions of dollars | In millions of dollars | 2021 | 2020 | 2021 | 2020 | In millions of dollars | 2022 | 2021 | 2022 | 2021 | ||||||||||||||||||
Preferred stock at aggregate liquidation value | Preferred stock at aggregate liquidation value | Preferred stock at aggregate liquidation value | ||||||||||||||||||||||||||
Balance, beginning of period | Balance, beginning of period | $ | 17,995 | $ | 17,980 | $ | 19,480 | $ | 17,980 | Balance, beginning of period | $ | 18,995 | $ | 20,280 | $ | 18,995 | $ | 19,480 | ||||||||||
Issuance of new preferred stock | Issuance of new preferred stock | — | — | 2,300 | 1,500 | Issuance of new preferred stock | — | — | — | 2,300 | ||||||||||||||||||
Redemption of preferred stock | Redemption of preferred stock | — | — | (3,785) | (1,500) | Redemption of preferred stock | — | (2,285) | — | (3,785) | ||||||||||||||||||
Balance, end of period | Balance, end of period | $ | 17,995 | $ | 17,980 | $ | 17,995 | $ | 17,980 | Balance, end of period | $ | 18,995 | $ | 17,995 | $ | 18,995 | $ | 17,995 | ||||||||||
Common stock and additional paid-in capital (APIC) | Common stock and additional paid-in capital (APIC) | Common stock and additional paid-in capital (APIC) | ||||||||||||||||||||||||||
Balance, beginning of period | Balance, beginning of period | $ | 107,851 | $ | 107,699 | $ | 107,877 | $ | 107,871 | Balance, beginning of period | $ | 108,081 | $ | 107,725 | $ | 108,034 | $ | 107,877 | ||||||||||
Employee benefit plans | Employee benefit plans | 60 | 93 | (3) | (81) | Employee benefit plans | 160 | 112 | 206 | (63) | ||||||||||||||||||
Preferred stock issuance costs (new issuances, net of reclassifications to retained earnings for redemptions) | Preferred stock issuance costs (new issuances, net of reclassifications to retained earnings for redemptions) | — | — | 40 | 2 | Preferred stock issuance costs (new issuances, net of reclassifications to retained earnings for redemptions) | — | 8 | — | 40 | ||||||||||||||||||
Other | Other | 42 | 3 | 39 | 3 | Other | — | 6 | 1 | (3) | ||||||||||||||||||
Balance, end of period | Balance, end of period | $ | 107,953 | $ | 107,795 | $ | 107,953 | $ | 107,795 | Balance, end of period | $ | 108,241 | $ | 107,851 | $ | 108,241 | $ | 107,851 | ||||||||||
Retained earnings | Retained earnings | Retained earnings | ||||||||||||||||||||||||||
Balance, beginning of period | Balance, beginning of period | $ | 179,686 | $ | 163,515 | $ | 168,272 | $ | 165,369 | Balance, beginning of period | $ | 187,962 | $ | 174,816 | $ | 184,948 | $ | 168,272 | ||||||||||
Adjustments to opening balance, net of taxes(1) | ||||||||||||||||||||||||||||
Financial instruments—credit losses (CECL adoption) | — | — | — | (3,076) | ||||||||||||||||||||||||
Variable post-charge-off third-party collection costs | — | — | — | 330 | ||||||||||||||||||||||||
Adjusted balance, beginning of period | $ | 179,686 | $ | 163,515 | $ | 168,272 | $ | 162,623 | ||||||||||||||||||||
Citigroup’s net income | Citigroup’s net income | 4,644 | 3,146 | 18,779 | 6,738 | Citigroup’s net income | 4,547 | 6,193 | 8,853 | 14,135 | ||||||||||||||||||
Common dividends | Common dividends | (1,040) | (1,074) | (3,176) | (3,226) | Common dividends | (1,010) | (1,062) | (2,024) | (2,136) | ||||||||||||||||||
Preferred dividends | Preferred dividends | (266) | (284) | (811) | (828) | Preferred dividends | (238) | (253) | (517) | (545) | ||||||||||||||||||
Other (primarily reclassifications from APIC for preferred issuance costs on redemptions) | Other (primarily reclassifications from APIC for preferred issuance costs on redemptions) | — | — | (40) | (4) | Other (primarily reclassifications from APIC for preferred issuance costs on redemptions) | — | (8) | 1 | (40) | ||||||||||||||||||
Balance, end of period | Balance, end of period | $ | 183,024 | $ | 165,303 | $ | 183,024 | $ | 165,303 | Balance, end of period | $ | 191,261 | $ | 179,686 | $ | 191,261 | $ | 179,686 | ||||||||||
Treasury stock, at cost | Treasury stock, at cost | Treasury stock, at cost | ||||||||||||||||||||||||||
Balance, beginning of period | Balance, beginning of period | $ | (68,253) | $ | (64,143) | $ | (64,129) | $ | (61,660) | Balance, beginning of period | $ | (73,744) | $ | (65,261) | $ | (71,240) | $ | (64,129) | ||||||||||
Employee benefit plans | Employee benefit plans | 7 | 6 | 483 | 448 | Employee benefit plans | 6 | 8 | 502 | 476 | ||||||||||||||||||
Treasury stock acquired | Treasury stock acquired | (3,000) | — | (7,600) | (2,925) | Treasury stock acquired | (250) | (3,000) | (3,250) | (4,600) | ||||||||||||||||||
Balance, end of period | Balance, end of period | $ | (71,246) | $ | (64,137) | $ | (71,246) | $ | (64,137) | Balance, end of period | $ | (73,988) | $ | (68,253) | $ | (73,988) | $ | (68,253) | ||||||||||
Citigroup’s accumulated other comprehensive income (loss) | Citigroup’s accumulated other comprehensive income (loss) | Citigroup’s accumulated other comprehensive income (loss) | ||||||||||||||||||||||||||
Balance, beginning of period | Balance, beginning of period | $ | (35,120) | $ | (33,345) | $ | (32,058) | $ | (36,318) | Balance, beginning of period | $ | (43,585) | $ | (35,011) | $ | (38,765) | $ | (32,058) | ||||||||||
Citigroup’s total other comprehensive income | Citigroup’s total other comprehensive income | (1,731) | 280 | (4,793) | 3,253 | Citigroup’s total other comprehensive income | (1,910) | (109) | (6,730) | (3,062) | ||||||||||||||||||
Balance, end of period | Balance, end of period | $ | (36,851) | $ | (33,065) | $ | (36,851) | $ | (33,065) | Balance, end of period | $ | (45,495) | $ | (35,120) | $ | (45,495) | $ | (35,120) | ||||||||||
Total Citigroup common stockholders’ equity | Total Citigroup common stockholders’ equity | $ | 182,880 | $ | 175,896 | $ | 182,880 | $ | 175,896 | Total Citigroup common stockholders’ equity | $ | 180,019 | $ | 184,164 | $ | 180,019 | $ | 184,164 | ||||||||||
Total Citigroup stockholders’ equity | Total Citigroup stockholders’ equity | $ | 200,875 | $ | 193,876 | $ | 200,875 | $ | 193,876 | Total Citigroup stockholders’ equity | $ | 199,014 | $ | 202,159 | $ | 199,014 | $ | 202,159 | ||||||||||
Noncontrolling interests | Noncontrolling interests | Noncontrolling interests | ||||||||||||||||||||||||||
Balance, beginning of period | Balance, beginning of period | $ | 751 | $ | 680 | $ | 758 | $ | 704 | Balance, beginning of period | $ | 644 | $ | 724 | $ | 700 | $ | 758 | ||||||||||
Transactions between noncontrolling-interest shareholders and the related consolidated subsidiary | Transactions between noncontrolling-interest shareholders and the related consolidated subsidiary | — | — | — | — | Transactions between noncontrolling-interest shareholders and the related consolidated subsidiary | — | — | — | — | ||||||||||||||||||
Transactions between Citigroup and the noncontrolling-interest shareholders | Transactions between Citigroup and the noncontrolling-interest shareholders | 1 | — | 2 | (6) | Transactions between Citigroup and the noncontrolling-interest shareholders | (1) | 1 | (34) | 1 | ||||||||||||||||||
Net income attributable to noncontrolling-interest shareholders | Net income attributable to noncontrolling-interest shareholders | 24 | 24 | 67 | 18 | Net income attributable to noncontrolling-interest shareholders | 21 | 10 | 38 | 43 | ||||||||||||||||||
Distributions paid to noncontrolling-interest shareholders | Distributions paid to noncontrolling-interest shareholders | — | (2) | — | (2) | Distributions paid to noncontrolling-interest shareholders | (1) | — | (11) | — | ||||||||||||||||||
Other comprehensive income (loss) attributable to noncontrolling-interest shareholders | Other comprehensive income (loss) attributable to noncontrolling-interest shareholders | (31) | 19 | (71) | 7 | Other comprehensive income (loss) attributable to noncontrolling-interest shareholders | (53) | 18 | (82) | (40) | ||||||||||||||||||
Other | Other | (10) | (2) | (21) | (2) | Other | 2 | (2) | 1 | (11) | ||||||||||||||||||
Net change in noncontrolling interests | Net change in noncontrolling interests | $ | (16) | $ | 39 | $ | (23) | $ | 15 | Net change in noncontrolling interests | $ | (32) | $ | 27 | $ | (88) | $ | (7) | ||||||||||
Balance, end of period | Balance, end of period | $ | 735 | $ | 719 | $ | 735 | $ | 719 | Balance, end of period | $ | 612 | $ | 751 | $ | 612 | $ | 751 | ||||||||||
Total equity | Total equity | $ | 201,610 | $ | 194,595 | $ | 201,610 | $ | 194,595 | Total equity | $ | 199,626 | $ | 202,910 | $ | 199,626 | $ | 202,910 |
CONSOLIDATED STATEMENT OF CASH FLOWS | Citigroup Inc. and Subsidiaries | |||||||
(UNAUDITED) |
Nine Months Ended September 30, | ||||||||
In millions of dollars | 2021 | 2020 | ||||||
Cash flows from operating activities of continuing operations | ||||||||
Net income before attribution of noncontrolling interests | $ | 18,846 | $ | 6,756 | ||||
Net income attributable to noncontrolling interests | 67 | 18 | ||||||
Citigroup’s net income | $ | 18,779 | $ | 6,738 | ||||
Income (loss) from discontinued operations, net of taxes | 7 | (26) | ||||||
Income from continuing operations—excluding noncontrolling interests | $ | 18,772 | $ | 6,764 | ||||
Adjustments to reconcile net income to net cash provided by (used in) operating activities of continuing operations | ||||||||
Net loss on significant disposals(1) | 680 | — | ||||||
Depreciation and amortization | 2,979 | 2,886 | ||||||
Provisions for credit losses on loans and unfunded lending commitments | (3,388) | 17,392 | ||||||
Realized gains from sales of investments | (655) | (1,484) | ||||||
Impairment losses on investments and other assets | 112 | 154 | ||||||
Change in trading account assets | 32,111 | (72,115) | ||||||
Change in trading account liabilities | 11,259 | 27,096 | ||||||
Change in brokerage receivables net of brokerage payables | (4,664) | (6,026) | ||||||
Change in loans HFS | (3,068) | 1,288 | ||||||
Change in other assets | (1,781) | (28) | ||||||
Change in other liabilities | 8,989 | (1,070) | ||||||
Other, net | (2,161) | 2,889 | ||||||
Total adjustments | $ | 40,413 | $ | (29,018) | ||||
Net cash provided by (used in) operating activities of continuing operations | $ | 59,185 | $ | (22,254) | ||||
Cash flows from investing activities of continuing operations | ||||||||
Change in securities borrowed and purchased under agreements to resell | $ | (42,984) | $ | (38,036) | ||||
Change in loans | 6,613 | 23,488 | ||||||
Proceeds from sales and securitizations of loans | 1,134 | 924 | ||||||
Purchases of investments | (277,874) | (276,084) | ||||||
Proceeds from sales of investments | 96,203 | 130,237 | ||||||
Proceeds from maturities of investments | 107,361 | 78,476 | ||||||
Capital expenditures on premises and equipment and capitalized software | (2,811) | (2,300) | ||||||
Proceeds from sales of premises and equipment, subsidiaries and affiliates and repossessed assets | 143 | 25 | ||||||
Other, net | 146 | 70 | ||||||
Net cash used in investing activities of continuing operations | $ | (112,069) | $ | (83,200) | ||||
Cash flows from financing activities of continuing operations | ||||||||
Dividends paid | $ | (3,959) | $ | (4,024) | ||||
Issuance of preferred stock | 2,300 | 1,500 | ||||||
Redemption of preferred stock | (3,785) | (1,500) | ||||||
Treasury stock acquired | (7,448) | (2,925) | ||||||
Stock tendered for payment of withholding taxes | (328) | (408) | ||||||
Change in securities loaned and sold under agreements to repurchase | 9,659 | 40,888 | ||||||
Issuance of long-term debt | 53,961 | 65,599 | ||||||
Payments and redemptions of long-term debt | (56,472) | (47,521) | ||||||
Change in deposits | 73,769 | 192,033 | ||||||
Change in short-term borrowings | 169 | (7,610) |
Six Months Ended June 30, | ||||||||
In millions of dollars | 2022 | 2021 | ||||||
Cash flows from operating activities of continuing operations | ||||||||
Net income before attribution of noncontrolling interests | $ | 8,891 | $ | 14,178 | ||||
Net income attributable to noncontrolling interests | 38 | 43 | ||||||
Citigroup’s net income | $ | 8,853 | $ | 14,135 | ||||
(Loss) gain from discontinued operations, net of taxes | (223) | 8 | ||||||
Income from continuing operations—excluding noncontrolling interests | $ | 9,076 | $ | 14,127 | ||||
Adjustments to reconcile net income to net cash provided by (used in) operating activities of continuing operations | ||||||||
Depreciation and amortization | 2,089 | 1,944 | ||||||
Provisions for credit losses on loans and unfunded lending commitments | 1,959 | (3,187) | ||||||
Goodwill impairment | 535 | — | ||||||
Realized gains from sales of investments | (22) | (538) | ||||||
Impairment losses on investments and other assets | 186 | 82 | ||||||
Change in trading account assets | (8,974) | 4,098 | ||||||
Change in trading account liabilities | 18,924 | 6,679 | ||||||
Change in brokerage receivables net of brokerage payables | 8,898 | (7,400) | ||||||
Change in loans HFS | 4,504 | (3,214) | ||||||
Change in other assets | (3,450) | (2,260) | ||||||
Change in other liabilities | (2,117) | 3,300 | ||||||
Other, net | (34,877) | 9,932 | ||||||
Total adjustments | $ | (12,345) | $ | 9,436 | ||||
Net cash provided by (used in) operating activities of continuing operations | $ | (3,269) | $ | 23,563 | ||||
Cash flows from investing activities of continuing operations | ||||||||
Change in securities borrowed and purchased under agreements to resell | $ | (34,046) | $ | (14,335) | ||||
Change in loans | (14,790) | (3,088) | ||||||
Proceeds from divestitures(1) | 1,940 | — | ||||||
Proceeds from sales and securitizations of loans | 1,562 | 869 | ||||||
Available-for-sale debt securities(2): | ||||||||
Purchases of investments | (123,528) | (114,240) | ||||||
Proceeds from sales of investments | 79,952 | 66,135 | ||||||
Proceeds from maturities of investments | 76,871 | 62,904 | ||||||
Held-to-maturity debt securities(2): | ||||||||
Purchases of investments | (34,317) | (87,049) | ||||||
Proceeds from maturities of investments | 5,821 | 12,291 | ||||||
Capital expenditures on premises and equipment and capitalized software | (2,465) | (1,771) | ||||||
Proceeds from sales of premises and equipment, subsidiaries and affiliates and repossessed assets | 31 | 28 | ||||||
Other, net | (332) | 145 | ||||||
Net cash used in investing activities of continuing operations | $ | (43,301) | $ | (78,111) | ||||
Cash flows from financing activities of continuing operations | ||||||||
Dividends paid | $ | (2,514) | $ | (2,663) | ||||
Issuance of preferred stock | — | 2,300 | ||||||
Redemption of preferred stock | — | (3,785) |
CONSOLIDATED STATEMENT OF CASH FLOWS | CONSOLIDATED STATEMENT OF CASH FLOWS | CONSOLIDATED STATEMENT OF CASH FLOWS | ||||||||||||||
(UNAUDITED) (Continued) | (UNAUDITED) (Continued) | (UNAUDITED) (Continued) | ||||||||||||||
Nine Months Ended September 30, | Six Months Ended June 30, | |||||||||||||||
In millions of dollars | In millions of dollars | 2021 | 2020 | In millions of dollars | 2022 | 2021 | ||||||||||
Treasury stock acquired | Treasury stock acquired | $ | (3,200) | $ | (4,381) | |||||||||||
Stock tendered for payment of withholding taxes | Stock tendered for payment of withholding taxes | (334) | (324) | |||||||||||||
Change in securities loaned and sold under agreements to repurchase | Change in securities loaned and sold under agreements to repurchase | 7,187 | 22,292 | |||||||||||||
Issuance of long-term debt | Issuance of long-term debt | 60,304 | 41,511 | |||||||||||||
Payments and redemptions of long-term debt | Payments and redemptions of long-term debt | (28,439) | (41,894) | |||||||||||||
Change in deposits | Change in deposits | 25,360 | 29,610 | |||||||||||||
Change in short-term borrowings | Change in short-term borrowings | 12,081 | 1,948 | |||||||||||||
Net cash provided by financing activities of continuing operations | Net cash provided by financing activities of continuing operations | $ | 67,866 | $ | 236,032 | Net cash provided by financing activities of continuing operations | $ | 70,445 | $ | 44,614 | ||||||
Effect of exchange rate changes on cash and due from banks | Effect of exchange rate changes on cash and due from banks | $ | (789) | $ | (802) | Effect of exchange rate changes on cash and due from banks | $ | (1,878) | $ | (443) | ||||||
Change in cash, due from banks and deposits with banks | Change in cash, due from banks and deposits with banks | 14,193 | 129,776 | Change in cash, due from banks and deposits with banks | 21,997 | (10,377) | ||||||||||
Cash, due from banks and deposits with banks at beginning of period | Cash, due from banks and deposits with banks at beginning of period | 309,615 | 193,919 | Cash, due from banks and deposits with banks at beginning of period | 262,033 | 309,615 | ||||||||||
Cash, due from banks and deposits with banks at end of period | Cash, due from banks and deposits with banks at end of period | $ | 323,808 | $ | 323,695 | Cash, due from banks and deposits with banks at end of period | $ | 284,030 | $ | 299,238 | ||||||
Cash and due from banks (including segregated cash and other deposits) | Cash and due from banks (including segregated cash and other deposits) | $ | 28,906 | $ | 25,308 | Cash and due from banks (including segregated cash and other deposits) | $ | 24,902 | $ | 27,117 | ||||||
Deposits with banks, net of allowance | Deposits with banks, net of allowance | 294,902 | 298,387 | Deposits with banks, net of allowance | 259,128 | 272,121 | ||||||||||
Cash, due from banks and deposits with banks at end of period | Cash, due from banks and deposits with banks at end of period | $ | 323,808 | $ | 323,695 | Cash, due from banks and deposits with banks at end of period | $ | 284,030 | $ | 299,238 | ||||||
Supplemental disclosure of cash flow information for continuing operations | Supplemental disclosure of cash flow information for continuing operations | Supplemental disclosure of cash flow information for continuing operations | ||||||||||||||
Cash paid during the period for income taxes | Cash paid during the period for income taxes | $ | 3,063 | $ | 3,837 | Cash paid during the period for income taxes | $ | 1,661 | $ | 2,176 | ||||||
Cash paid during the period for interest | Cash paid during the period for interest | 6,894 | 11,502 | Cash paid during the period for interest | 6,284 | 3,926 | ||||||||||
Non-cash investing activities(1)(2) | ||||||||||||||||
Non-cash investing activities(1)(3) | Non-cash investing activities(1)(3) | |||||||||||||||
Decrease in net loans associated with significant disposals reclassified to HFS | $ | 8,291 | $ | — | ||||||||||||
Transfer of investment securities from AFS to HTM | Transfer of investment securities from AFS to HTM | $ | 21,522 | $ | — | |||||||||||
Decrease in net loans associated with divestitures reclassified to HFS | Decrease in net loans associated with divestitures reclassified to HFS | 17,758 | — | |||||||||||||
Decrease in goodwill associated with divestitures reclassified to HFS | Decrease in goodwill associated with divestitures reclassified to HFS | 873 | — | |||||||||||||
Transfers to loans HFS (Other assets) from loans | Transfers to loans HFS (Other assets) from loans | 5,329 | 2,122 | Transfers to loans HFS (Other assets) from loans | 1,874 | 961 | ||||||||||
Non-cash financing activities(1) | Non-cash financing activities(1) | Non-cash financing activities(1) | ||||||||||||||
Decrease in long-term debt associated with significant disposals reclassified to HFS | $ | 521 | $ | — | ||||||||||||
Decrease in deposits associated with significant disposals reclassified to HFS | 6,912 | — | ||||||||||||||
Decrease in deposits associated with divestitures reclassified to HFS | Decrease in deposits associated with divestitures reclassified to HFS | $ | 20,741 | $ | — |
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||||||||||||
In millions of dollars | 2021 | 2020 | 2021 | 2020 | ||||||||||||||||||||||
Total revenues, net of interest expense | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||
Income (loss) from discontinued operations(1) | $ | (1) | $ | (7) | $ | 7 | $ | (26) | ||||||||||||||||||
Benefit for income taxes | — | — | — | — | ||||||||||||||||||||||
Income (loss) from discontinued operations, net of taxes | $ | (1) | $ | (7) | $ | 7 | $ | (26) |
Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||||||||||||
In millions of dollars | 2022 | 2021 | 2022 | 2021 | ||||||||||||||||||||||
Total revenues, net of interest expense | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||
Income (loss) from discontinued operations(1) | $ | (262) | $ | 10 | $ | (264) | $ | 8 | ||||||||||||||||||
Benefit for income taxes | (41) | — | (41) | — | ||||||||||||||||||||||
Income (loss) from discontinued operations, net of taxes | $ | (221) | $ | 10 | $ | (223) | $ | 8 |
June 30, 2022 | ||||||||||||||||||||||||||||||||||||||
In millions of dollars | Assets | Liabilities | ||||||||||||||||||||||||||||||||||||
Consumer banking business in | Sale agreement date | Expected close | Cash and deposits with banks | Loans(1) | Goodwill(2) | Other assets, advances to/from subsidiaries | Other assets | Total assets | Deposits | Long-term debt | Other liabilities | Total liabilities | ||||||||||||||||||||||||||
Australia(3) | 8/9/21 | closed on 6/1/2022 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||
Philippines(4) | 12/23/21 | closed on 8/1/2022 | 31 | 1,170 | 244 | 511 | 37 | 1,993 | 1,208 | — | 78 | 1,286 | ||||||||||||||||||||||||||
Thailand(4) | 1/14/22 | second half 2022 | $ | 15 | $ | 2,485 | $ | 160 | $ | 215 | $ | 84 | $ | 2,959 | $ | 925 | $ | — | $ | 133 | $ | 1,058 | ||||||||||||||||
Taiwan(4) | 1/28/22 | second half 2023 | 104 | 7,878 | 212 | 4,855 | 199 | 13,248 | 10,350 | — | 214 | 10,564 | ||||||||||||||||||||||||||
India(4) | 3/30/22 | first half 2023 | 29 | 3,515 | 346 | 2,482 | 102 | 6,474 | 5,916 | — | 184 | 6,100 |
Income (loss) before taxes(5) | ||||||||||||||
Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||
In millions of dollars | 2022 | 2021 | 2022 | 2021 | ||||||||||
Australia(3) | $ | 28 | $ | 69 | $ | 193 | $ | 142 | ||||||
Philippines | 14 | 31 | 65 | 67 | ||||||||||
Thailand | 90 | 43 | 78 | 91 | ||||||||||
Taiwan | 50 | 65 | 96 | 150 | ||||||||||
India | 52 | 29 | 125 | 98 |
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||
In millions of dollars | 2021 | 2020 | 2021 | 2020 | ||||||||||
Income before taxes | $ | 95 | $ | 78 | $ | 236 | $ | 153 |
In millions of dollars | Employee termination costs | ||||
Total Citigroup (pretax) | |||||
Original charges | $ | 1,052 | |||
Utilization | (1) | ||||
Foreign exchange | 3 | ||||
Balance at December 31, 2021 | $ | 1,054 | |||
Additional charges | $ | 31 | |||
Utilization | (347) | ||||
Foreign exchange | (24) | ||||
Balance at March 31, 2022 | $ | 714 | |||
Additional charges (releases) | $ | (3) | |||
Utilization | (670) | ||||
Foreign exchange | (41) | ||||
Balance at June 30, 2022 | $ | — |
Three Months Ended June 30, | ||||||||||||||||||||||||||||||||
In millions of dollars, except identifiable assets, average loans and average deposits in billions | ICG | PBWM | Legacy Franchises | Corporate/Other | Total Citi | |||||||||||||||||||||||||||
2022 | 2021 | 2022 | 2021 | 2022 | 2021 | 2022 | 2021 | 2022 | 2021 | |||||||||||||||||||||||
Net interest income | $ | 4,520 | $ | 3,760 | $ | 5,569 | $ | 4,985 | $ | 1,474 | $ | 1,621 | $ | 401 | $ | 112 | $ | 11,964 | $ | 10,478 | ||||||||||||
Non-interest revenue | 6,899 | 5,789 | 460 | 713 | 461 | 658 | (146) | 115 | 7,674 | 7,275 | ||||||||||||||||||||||
Total revenues, net of interest expense | $ | 11,419 | $ | 9,549 | $ | 6,029 | $ | 5,698 | $ | 1,935 | $ | 2,279 | $ | 255 | $ | 227 | $ | 19,638 | $ | 17,753 | ||||||||||||
Operating expense | 6,434 | 5,829 | 3,985 | 3,547 | 1,814 | 1,788 | 160 | 307 | 12,393 | 11,471 | ||||||||||||||||||||||
Provisions for credit losses | (202) | (694) | 1,355 | (170) | 121 | (204) | — | 2 | 1,274 | (1,066) | ||||||||||||||||||||||
Income (loss) from continuing operations before taxes | $ | 5,187 | $ | 4,414 | $ | 689 | $ | 2,321 | $ | — | $ | 695 | $ | 95 | $ | (82) | $ | 5,971 | $ | 7,348 | ||||||||||||
Provision (benefits) for income taxes | 1,209 | 981 | 136 | 516 | 15 | 203 | (178) | (545) | 1,182 | 1,155 | ||||||||||||||||||||||
Income (loss) from continuing operations | $ | 3,978 | $ | 3,433 | $ | 553 | $ | 1,805 | $ | (15) | $ | 492 | $ | 273 | $ | 463 | $ | 4,789 | $ | 6,193 | ||||||||||||
Identifiable assets (June 30, 2022 and December 31, 2021) | $ | 1,700 | $ | 1,613 | $ | 479 | $ | 464 | $ | 108 | $ | 125 | $ | 94 | $ | 89 | $ | 2,381 | $ | 2,291 | ||||||||||||
Average loans | 297 | 287 | 317 | 304 | 43 | 79 | — | — | 657 | 670 | ||||||||||||||||||||||
Average deposits | 830 | 818 | 435 | 410 | 51 | 85 | 7 | 8 | 1,323 | 1,321 | ||||||||||||||||||||||
Six Months Ended June 30, | ||||||||||||||||||||||||||||||||
In millions of dollars, except average loans and average deposits in billions | ICG | PBWM | Legacy Franchises | Corporate/Other | Total Citi | |||||||||||||||||||||||||||
2022 | 2021 | 2022 | 2021 | 2022 | 2021 | 2022 | 2021 | 2022 | 2021 | |||||||||||||||||||||||
Net interest income | $ | 8,304 | $ | 7,493 | $ | 10,954 | $ | 10,150 | $ | 2,982 | $ | 3,184 | $ | 595 | $ | 157 | $ | 22,835 | $ | 20,984 | ||||||||||||
Non-interest revenue | 14,275 | 13,444 | 980 | 1,540 | 884 | 1,338 | (150) | 114 | 15,989 | 16,436 | ||||||||||||||||||||||
Total revenues, net of interest expense | $ | 22,579 | $ | 20,937 | $ | 11,934 | $ | 11,690 | $ | 3,866 | $ | 4,522 | $ | 445 | $ | 271 | $ | 38,824 | $ | 37,420 | ||||||||||||
Operating expense | 13,157 | 11,761 | 7,874 | 6,969 | 4,107 | 3,540 | 420 | 614 | 25,558 | 22,884 | ||||||||||||||||||||||
Provisions for credit losses | 769 | (2,233) | 979 | (727) | 281 | (160) | — | (1) | 2,029 | (3,121) | ||||||||||||||||||||||
Income (loss) from continuing operations before taxes | $ | 8,653 | $ | 11,409 | $ | 3,081 | $ | 5,448�� | $ | (522) | $ | 1,142 | $ | 25 | $ | (342) | $ | 11,237 | $ | 17,657 | ||||||||||||
Provision (benefits) for income taxes | 2,017 | 2,546 | 668 | 1,223 | (122) | 330 | (440) | (612) | 2,123 | 3,487 | ||||||||||||||||||||||
Income (loss) from continuing operations | $ | 6,636 | $ | 8,863 | $ | 2,413 | $ | 4,225 | $ | (400) | $ | 812 | $ | 465 | $ | 270 | $ | 9,114 | $ | 14,170 | ||||||||||||
Average loans | $ | 293 | $ | 284 | $ | 315 | $ | 304 | $ | 45 | $ | 80 | $ | — | $ | — | $ | 653 | $ | 668 | ||||||||||||
Average deposits | 828 | 814 | 441 | 404 | 53 | 85 | 7 | 10 | 1,329 | 1,313 | ||||||||||||||||||||||
Three Months Ended September 30, | ||||||||||||||||||||||||||
Revenues, net of interest expense(1) | Provision (benefits) for income taxes | Income (loss) from continuing operations(2) | Identifiable assets | |||||||||||||||||||||||
In millions of dollars, except identifiable assets in billions | 2021 | 2020 | 2021 | 2020 | 2021 | 2020 | September 30, 2021 | December 31, 2020 | ||||||||||||||||||
Global Consumer Banking | $ | 6,260 | $ | 7,173 | $ | 424 | $ | 284 | $ | 1,334 | $ | 920 | $ | 442 | $ | 434 | ||||||||||
Institutional Clients Group | 10,786 | 10,353 | 991 | 800 | 3,443 | 2,857 | 1,819 | 1,730 | ||||||||||||||||||
Corporate/Other | 108 | (224) | (222) | (307) | (108) | (600) | 101 | 96 | ||||||||||||||||||
Total | $ | 17,154 | $ | 17,302 | $ | 1,193 | $ | 777 | $ | 4,669 | $ | 3,177 | $ | 2,362 | $ | 2,260 | ||||||||||
Nine Months Ended September 30, | ||||||||||||||||||||||||||
Revenues, net of interest expense(3) | Provision (benefits) for income taxes | Income (loss) from continuing operations(4) | ||||||||||||||||||||||||
In millions of dollars | 2021 | 2020 | 2021 | 2020 | 2021 | 2020 | ||||||||||||||||||||
Global Consumer Banking | $ | 20,117 | $ | 22,686 | $ | 1,654 | $ | (254) | $ | 5,337 | $ | (569) | ||||||||||||||
Institutional Clients Group | 33,393 | 34,974 | 3,821 | 2,284 | 13,210 | 8,253 | ||||||||||||||||||||
Corporate/Other | 445 | 139 | (795) | (621) | 292 | (902) | ||||||||||||||||||||
Total | $ | 53,955 | $ | 57,799 | $ | 4,680 | $ | 1,409 | $ | 18,839 | $ | 6,782 |
Three Months Ended September 30, | Nine Months Ended September 30, | Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||||||||||||||||||
In millions of dollars | In millions of dollars | 2021 | 2020 | 2021 | 2020 | In millions of dollars | 2022 | 2021 | 2022 | 2021 | ||||||||||||||||||||||||
Interest revenue | Interest revenue | Interest revenue | ||||||||||||||||||||||||||||||||
Consumer loans | Consumer loans | $ | 6,601 | $ | 6,521 | $ | 12,863 | $ | 13,223 | |||||||||||||||||||||||||
Corporate loans | Corporate loans | 2,894 | 2,212 | 5,348 | 4,419 | |||||||||||||||||||||||||||||
Loan interest, including fees | Loan interest, including fees | $ | 8,874 | $ | 9,421 | $ | 26,516 | $ | 30,820 | Loan interest, including fees | $ | 9,495 | $ | 8,733 | $ | 18,211 | $ | 17,642 | ||||||||||||||||
Deposits with banks | Deposits with banks | 147 | 116 | 418 | 802 | Deposits with banks | 658 | 126 | 954 | 271 | ||||||||||||||||||||||||
Securities borrowed and purchased under agreements to resell | Securities borrowed and purchased under agreements to resell | 264 | 352 | 763 | 1,961 | Securities borrowed and purchased under agreements to resell | 805 | 205 | 1,199 | 499 | ||||||||||||||||||||||||
Investments, including dividends | Investments, including dividends | 1,885 | 1,870 | 5,455 | 6,248 | Investments, including dividends | 2,370 | 1,818 | 4,420 | 3,570 | ||||||||||||||||||||||||
Trading account assets(1) | Trading account assets(1) | 1,284 | 1,457 | 4,091 | 4,720 | Trading account assets(1) | 1,659 | 1,470 | 2,805 | 2,807 | ||||||||||||||||||||||||
Other interest-bearing assets | 196 | 98 | 404 | 491 | ||||||||||||||||||||||||||||||
Other interest-bearing assets(2) | Other interest-bearing assets(2) | 643 | 111 | 1,192 | 208 | |||||||||||||||||||||||||||||
Total interest revenue | Total interest revenue | $ | 12,650 | $ | 13,314 | $ | 37,647 | $ | 45,042 | Total interest revenue | $ | 15,630 | $ | 12,463 | $ | 28,781 | $ | 24,997 | ||||||||||||||||
Interest expense | Interest expense | Interest expense | ||||||||||||||||||||||||||||||||
Deposits(2) | $ | 1,023 | $ | 1,293 | $ | 3,030 | $ | 5,376 | ||||||||||||||||||||||||||
Deposits | Deposits | $ | 1,420 | $ | 676 | $ | 2,291 | $ | 1,388 | |||||||||||||||||||||||||
Securities loaned and sold under agreements to repurchase | Securities loaned and sold under agreements to repurchase | 287 | 292 | 800 | 1,830 | Securities loaned and sold under agreements to repurchase | 655 | 260 | 937 | 513 | ||||||||||||||||||||||||
Trading account liabilities(1) | Trading account liabilities(1) | 106 | 123 | 370 | 506 | Trading account liabilities(1) | 137 | 150 | 284 | 264 | ||||||||||||||||||||||||
Short-term borrowings and other interest-bearing liabilities | 8 | 88 | 70 | 612 | ||||||||||||||||||||||||||||||
Short-term borrowings and other interest-bearing liabilities(3) | Short-term borrowings and other interest-bearing liabilities(3) | 268 | 31 | 323 | 62 | |||||||||||||||||||||||||||||
Long-term debt | Long-term debt | 828 | 1,025 | 2,614 | 3,653 | Long-term debt | 1,186 | 868 | 2,111 | 1,786 | ||||||||||||||||||||||||
Total interest expense | Total interest expense | $ | 2,252 | $ | 2,821 | $ | 6,884 | $ | 11,977 | Total interest expense | $ | 3,666 | $ | 1,985 | $ | 5,946 | $ | 4,013 | ||||||||||||||||
Net interest revenue | $ | 10,398 | $ | 10,493 | $ | 30,763 | $ | 33,065 | ||||||||||||||||||||||||||
Net interest income | Net interest income | $ | 11,964 | $ | 10,478 | $ | 22,835 | $ | 20,984 | |||||||||||||||||||||||||
Provision (benefit) for credit losses on loans | Provision (benefit) for credit losses on loans | (188) | 1,931 | (2,793) | 16,298 | Provision (benefit) for credit losses on loans | 1,384 | (1,126) | 1,644 | (2,605) | ||||||||||||||||||||||||
Net interest revenue after provision for credit losses on loans | $ | 10,586 | $ | 8,562 | $ | 33,556 | $ | 16,767 | ||||||||||||||||||||||||||
Net interest income after provision for credit losses on loans | Net interest income after provision for credit losses on loans | $ | 10,580 | $ | 11,604 | $ | 21,191 | $ | 23,589 |
Three Months Ended September 30, 2021 | Nine Months Ended September 30, 2021 | |||||||||||||||||||||||||
In millions of dollars | ICG | GCB | Corporate/Other | Total | ICG | GCB | Corporate/Other | Total | ||||||||||||||||||
Investment banking | $ | 1,493 | $ | — | $ | — | $ | 1,493 | $ | 4,503 | $ | — | $ | — | $ | 4,503 | ||||||||||
Brokerage commissions | 483 | 290 | — | 773 | 1,626 | 910 | — | 2,536 | ||||||||||||||||||
Credit- and bank-card income | ||||||||||||||||||||||||||
Interchange fees | 225 | 2,317 | — | 2,542 | 580 | 6,496 | — | 7,076 | ||||||||||||||||||
Card-related loan fees | 7 | 164 | — | 171 | 19 | 511 | — | 530 | ||||||||||||||||||
Card rewards and partner payments(1) | (119) | (2,541) | — | (2,660) | (298) | (7,048) | — | (7,346) | ||||||||||||||||||
Deposit-related fees(2) | 270 | 69 | — | 339 | 774 | 219 | — | 993 | ||||||||||||||||||
Transactional service fees | 257 | 24 | — | 281 | 749 | 74 | — | 823 | ||||||||||||||||||
Corporate finance(3) | 214 | — | — | 214 | 552 | — | — | 552 | ||||||||||||||||||
Insurance distribution revenue | 3 | 114 | — | 117 | 9 | 356 | — | 365 | ||||||||||||||||||
Insurance premiums | — | 25 | — | 25 | — | 75 | — | 75 | ||||||||||||||||||
Loan servicing | 10 | 11 | 3 | 24 | 32 | 28 | 11 | 71 | ||||||||||||||||||
Other | 19 | 61 | — | 80 | 87 | 175 | 3 | 265 | ||||||||||||||||||
Total commissions and fees(4) | $ | 2,862 | $ | 534 | $ | 3 | $ | 3,399 | $ | 8,633 | $ | 1,796 | $ | 14 | $ | 10,443 |
Three Months Ended June 30, 2022 | Six Months Ended June 30, 2022 | |||||||||||||||||||||||||||||||
In millions of dollars | ICG | PBWM | Legacy Franchises | Total | ICG | PBWM | Legacy Franchises | Total | ||||||||||||||||||||||||
Investment banking | $ | 845 | $ | — | $ | — | $ | 845 | $ | 1,753 | $ | — | $ | — | $ | 1,753 | ||||||||||||||||
Brokerage commissions | 393 | 213 | 53 | 659 | 853 | 454 | 121 | 1,428 | ||||||||||||||||||||||||
Credit and bank card income | ||||||||||||||||||||||||||||||||
Interchange fees | 321 | 2,435 | 227 | 2,983 | 561 | 4,534 | 448 | 5,543 | ||||||||||||||||||||||||
Card-related loan fees | 11 | 73 | 79 | 163 | 20 | 137 | 160 | 317 | ||||||||||||||||||||||||
Card rewards and partner payments(1) | (165) | (2,871) | (160) | (3,196) | (282) | (5,370) | (332) | (5,984) | ||||||||||||||||||||||||
Deposit-related fees(2) | 279 | 44 | 19 | 342 | 546 | 103 | 36 | 685 | ||||||||||||||||||||||||
Transactional service fees | 267 | 5 | 26 | 298 | 521 | 9 | 52 | 582 | ||||||||||||||||||||||||
Corporate finance(3) | 136 | — | — | 136 | 252 | 3 | — | 255 | ||||||||||||||||||||||||
Insurance distribution revenue | — | 56 | 33 | 89 | — | 108 | 69 | 177 | ||||||||||||||||||||||||
Insurance premiums | — | 1 | 22 | 23 | — | 2 | 46 | 48 | ||||||||||||||||||||||||
Loan servicing | 7 | 12 | 4 | 23 | 19 | 22 | 7 | 48 | ||||||||||||||||||||||||
Other | 3 | 49 | 35 | 87 | 2 | 97 | 69 | 168 | ||||||||||||||||||||||||
Total commissions and fees(4) | $ | 2,097 | $ | 17 | $ | 338 | $ | 2,452 | $ | 4,245 | $ | 99 | $ | 676 | $ | 5,020 |
Three Months Ended September 30, 2020 | Nine Months Ended September 30, 2020 | Three Months Ended June 30, 2021 | Six Months Ended June 30, 2021 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
In millions of dollars | In millions of dollars | ICG | GCB | Corporate/Other | Total | ICG | GCB | Corporate/Other | Total | In millions of dollars | ICG | PBWM | Legacy Franchises | Total | ICG | PBWM | Legacy Franchises | Total | ||||||||||||||||||||||||||||||||||||||||
Investment banking | Investment banking | $ | 1,076 | $ | — | $ | — | $ | 1,076 | $ | 3,474 | $ | — | $ | — | $ | 3,474 | Investment banking | $ | 1,386 | $ | — | $ | — | $ | 1,386 | $ | 3,010 | $ | — | $ | — | $ | 3,010 | ||||||||||||||||||||||||
Brokerage commissions | Brokerage commissions | 486 | 260 | — | 746 | 1,545 | 713 | — | 2,258 | Brokerage commissions | 447 | 277 | 97 | 821 | 968 | 566 | 229 | 1,763 | ||||||||||||||||||||||||||||||||||||||||
Credit- and bank-card income | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Credit and bank card income | Credit and bank card income | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interchange fees | Interchange fees | 158 | 1,842 | — | 2,000 | 542 | 5,264 | — | 5,806 | Interchange fees | 197 | 2,061 | 212 | 2,470 | 355 | 3,755 | 424 | 4,534 | ||||||||||||||||||||||||||||||||||||||||
Card-related loan fees | Card-related loan fees | 4 | 157 | — | 161 | 18 | 455 | — | 473 | Card-related loan fees | 6 | 74 | 97 | 177 | 11 | 151 | 197 | 359 | ||||||||||||||||||||||||||||||||||||||||
Card rewards and partner payments(1) | Card rewards and partner payments(1) | (73) | (2,073) | — | (2,146) | (292) | (5,911) | — | (6,203) | Card rewards and partner payments(1) | (104) | (2,301) | (110) | (2,515) | (179) | (4,258) | (249) | (4,686) | ||||||||||||||||||||||||||||||||||||||||
Deposit-related fees(2) | Deposit-related fees(2) | 246 | 79 | — | 325 | 699 | 279 | — | 978 | Deposit-related fees(2) | 257 | 42 | 26 | 325 | 500 | 96 | 58 | 654 | ||||||||||||||||||||||||||||||||||||||||
Transactional service fees | Transactional service fees | 217 | 20 | — | 237 | 659 | 64 | — | 723 | Transactional service fees | 242 | 6 | 29 | 277 | 474 | 11 | 57 | 542 | ||||||||||||||||||||||||||||||||||||||||
Corporate finance(3) | Corporate finance(3) | 77 | — | — | 77 | 372 | — | — | 372 | Corporate finance(3) | 180 | — | — | 180 | 335 | 3 | — | 338 | ||||||||||||||||||||||||||||||||||||||||
Insurance distribution revenue | Insurance distribution revenue | 4 | 129 | — | 133 | 9 | 367 | — | 376 | Insurance distribution revenue | — | 76 | 37 | 113 | — | 159 | 89 | 248 | ||||||||||||||||||||||||||||||||||||||||
Insurance premiums | Insurance premiums | — | 25 | — | 25 | — | 99 | — | 99 | Insurance premiums | — | 6 | 24 | 30 | — | 8 | 42 | 50 | ||||||||||||||||||||||||||||||||||||||||
Loan servicing | Loan servicing | 16 | 4 | 10 | 30 | 54 | 26 | 20 | 100 | Loan servicing | 11 | 8 | 5 | 24 | 23 | 15 | 9 | 47 | ||||||||||||||||||||||||||||||||||||||||
Other | Other | 34 | 55 | — | 89 | 91 | 157 | 3 | 251 | Other | 8 | 43 | 35 | 86 | 17 | 98 | 70 | 185 | ||||||||||||||||||||||||||||||||||||||||
Total commissions and fees(4) | Total commissions and fees(4) | $ | 2,245 | $ | 498 | $ | 10 | $ | 2,753 | $ | 7,171 | $ | 1,513 | $ | 23 | $ | 8,707 | Total commissions and fees(4) | $ | 2,630 | $ | 292 | $ | 452 | $ | 3,374 | $ | 5,514 | $ | 604 | $ | 926 | $ | 7,044 |
Three Months Ended September 30, 2021 | Nine Months Ended September 30, 2021 | |||||||||||||||||||||||||
In millions of dollars | ICG | GCB | Corporate/Other | Total | ICG | GCB | Corporate/Other | Total | ||||||||||||||||||
Custody fees | $ | 471 | $ | 7 | $ | 1 | $ | 479 | $ | 1,419 | $ | 19 | $ | 1 | $ | 1,439 | ||||||||||
Fiduciary fees | 204 | 175 | 3 | 382 | 596 | 511 | 6 | 1,113 | ||||||||||||||||||
Guarantee fees | 144 | 1 | 1 | 146 | 429 | 5 | 4 | 438 | ||||||||||||||||||
Total administration and other fiduciary fees(1) | $ | 819 | $ | 183 | $ | 5 | $ | 1,007 | $ | 2,444 | $ | 535 | $ | 11 | $ | 2,990 |
Three Months Ended September 30, 2020 | Nine Months Ended September 30, 2020 | Three Months Ended June 30, 2022 | Six Months Ended June 30, 2022 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
In millions of dollars | In millions of dollars | ICG | GCB | Corporate/Other | Total | ICG | GCB | Corporate/Other | Total | In millions of dollars | ICG | PBWM | Legacy Franchises | Total | ICG | PBWM | Legacy Franchises | Total | ||||||||||||||||||||||||||||||||||||||||
Custody fees | Custody fees | $ | 427 | $ | 8 | $ | 2 | $ | 437 | $ | 1,165 | $ | 22 | $ | 38 | $ | 1,225 | Custody fees | $ | 506 | $ | 22 | $ | 2 | $ | 530 | $ | 952 | $ | 45 | $ | 5 | $ | 1,002 | ||||||||||||||||||||||||
Fiduciary fees | Fiduciary fees | 167 | 153 | — | 320 | 497 | 441 | — | 938 | Fiduciary fees | 68 | 196 | 79 | 343 | 133 | 401 | 159 | 693 | ||||||||||||||||||||||||||||||||||||||||
Guarantee fees | Guarantee fees | 132 | 2 | 1 | 135 | 393 | 5 | 4 | 402 | Guarantee fees | 134 | 14 | 2 | 150 | 266 | 24 | 4 | 294 | ||||||||||||||||||||||||||||||||||||||||
Total administration and other fiduciary fees(1) | Total administration and other fiduciary fees(1) | $ | 726 | $ | 163 | $ | 3 | $ | 892 | $ | 2,055 | $ | 468 | $ | 42 | $ | 2,565 | Total administration and other fiduciary fees(1) | $ | 708 | $ | 232 | $ | 83 | $ | 1,023 | $ | 1,351 | $ | 470 | $ | 168 | $ | 1,989 |
Three Months Ended June 30, 2021 | Six Months Ended June 30, 2021 | |||||||||||||||||||||||||||||||
In millions of dollars | ICG | PBWM | Legacy Franchises | Total | ICG | PBWM | Legacy Franchises | Total | ||||||||||||||||||||||||
Custody fees | $ | 476 | $ | 24 | $ | 3 | $ | 503 | $ | 908 | $ | 45 | $ | 7 | $ | 960 | ||||||||||||||||
Fiduciary fees | 61 | 200 | 111 | 372 | 123 | 392 | 216 | 731 | ||||||||||||||||||||||||
Guarantee fees | 133 | 11 | 3 | 147 | 266 | 22 | 4 | 292 | ||||||||||||||||||||||||
Total administration and other fiduciary fees(1) | $ | 670 | $ | 235 | $ | 117 | $ | 1,022 | $ | 1,297 | $ | 459 | $ | 227 | $ | 1,983 |
Three Months Ended September 30, | Nine Months Ended September 30, | Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||||||||||||
In millions of dollars | In millions of dollars | 2021 | 2020 | 2021 | 2020 | In millions of dollars | 2022 | 2021 | 2022 | 2021 | ||||||||||||||||||
Interest rate risks(1) | Interest rate risks(1) | $ | 461 | $ | 993 | $ | 2,424 | $ | 4,751 | Interest rate risks(1) | $ | 1,450 | $ | 530 | $ | 2,920 | $ | 1,964 | ||||||||||
Foreign exchange risks(2) | Foreign exchange risks(2) | 924 | 960 | 2,851 | 3,069 | Foreign exchange risks(2) | 1,639 | 965 | 3,187 | 1,927 | ||||||||||||||||||
Equity risks(3) | Equity risks(3) | 666 | 157 | 1,869 | 1,078 | Equity risks(3) | 345 | 358 | 1,276 | 1,203 | ||||||||||||||||||
Commodity and other risks(4) | Commodity and other risks(4) | 252 | 248 | 844 | 1,007 | Commodity and other risks(4) | 612 | 393 | 1,063 | 593 | ||||||||||||||||||
Credit products and risks(5) | Credit products and risks(5) | (70) | 150 | 462 | 2,021 | Credit products and risks(5) | 479 | 58 | 669 | 530 | ||||||||||||||||||
Total | Total | $ | 2,233 | $ | 2,508 | $ | 8,450 | $ | 11,926 | Total | $ | 4,525 | $ | 2,304 | $ | 9,115 | $ | 6,217 |
Three Months Ended September 30, | Three Months Ended June 30, | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Pension plans | Postretirement benefit plans | Pension plans | Postretirement benefit plans | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
U.S. plans | Non-U.S. plans | U.S. plans | Non-U.S. plans | U.S. plans | Non-U.S. plans | U.S. plans | Non-U.S. plans | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
In millions of dollars | In millions of dollars | 2021 | 2020 | 2021 | 2020 | 2021 | 2020 | 2021 | 2020 | In millions of dollars | 2022 | 2021 | 2022 | 2021 | 2022 | 2021 | 2022 | 2021 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Benefits earned during the period | Benefits earned during the period | $ | — | $ | — | $ | 36 | $ | 38 | $ | — | $ | — | $ | 2 | $ | 2 | Benefits earned during the period | $ | — | $ | — | $ | 30 | $ | 38 | $ | — | $ | — | $ | — | $ | 2 | ||||||||||||||||||||||||||||||||||||
Interest cost on benefit obligation | Interest cost on benefit obligation | 87 | 87 | 67 | 59 | 3 | 4 | 25 | 22 | Interest cost on benefit obligation | 105 | 95 | 79 | 70 | 4 | 3 | 23 | 24 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Expected return on assets | Expected return on assets | (173) | (205) | (65) | (62) | (3) | (4) | (22) | (18) | Expected return on assets | (154) | (174) | (66) | (63) | (3) | (3) | (18) | (21) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Amortization of unrecognized: | Amortization of unrecognized: | Amortization of unrecognized: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Prior service benefit | Prior service benefit | — | — | (1) | (1) | (3) | — | (2) | (3) | Prior service benefit | — | — | (1) | (2) | (3) | (2) | (1) | (3) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Net actuarial loss | 57 | 62 | 16 | 17 | — | — | 4 | 5 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Settlement loss (gain)(1) | — | — | 1 | (6) | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net actuarial loss (gain) | Net actuarial loss (gain) | 44 | 54 | 14 | 14 | (2) | (1) | 1 | 3 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Curtailment (gain)(1) | Curtailment (gain)(1) | — | — | (23) | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Settlement (gain) loss(1) | Settlement (gain) loss(1) | — | — | (10) | 4 | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total net (benefit) expense | Total net (benefit) expense | $ | (29) | $ | (56) | $ | 54 | $ | 45 | $ | (3) | $ | — | $ | 7 | $ | 8 | Total net (benefit) expense | $ | (5) | $ | (25) | $ | 23 | $ | 61 | $ | (4) | $ | (3) | $ | 5 | $ | 5 |
Nine Months Ended September 30, | Six Months Ended June 30, | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Pension plans | Postretirement benefit plans | Pension plans | Postretirement benefit plans | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
U.S. plans | Non-U.S. plans | U.S. plans | Non-U.S. plans | U.S. plans | Non-U.S. plans | U.S. plans | Non-U.S. plans | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
In millions of dollars | In millions of dollars | 2021 | 2020 | 2021 | 2020 | 2021 | 2020 | 2021 | 2020 | In millions of dollars | 2022 | 2021 | 2022 | 2021 | 2022 | 2021 | 2022 | 2021 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Benefits earned during the period | Benefits earned during the period | $ | — | $ | — | $ | 113 | $ | 109 | $ | — | $ | — | $ | 6 | $ | 6 | Benefits earned during the period | $ | — | $ | — | $ | 64 | $ | 77 | $ | — | $ | — | $ | 1 | 4 | |||||||||||||||||||||||||||||||||||||||||||
Interest cost on benefit obligation | Interest cost on benefit obligation | 264 | 294 | 199 | 184 | 9 | 14 | 74 | 68 | Interest cost on benefit obligation | 191 | 177 | 152 | 132 | 7 | 6 | 46 | 49 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Expected return on assets | (529) | (619) | (189) | (183) | (10) | (13) | (65) | (56) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Expected return on plan assets | Expected return on plan assets | (308) | (356) | (132) | (124) | (6) | (7) | (38) | (43) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amortization of unrecognized: | Amortization of unrecognized: | Amortization of unrecognized: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Prior service cost (benefit) | Prior service cost (benefit) | 1 | 1 | (4) | (4) | (7) | — | (7) | (7) | Prior service cost (benefit) | 1 | 1 | (3) | $ | (3) | (5) | (4) | (4) | (5) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net actuarial loss (gain) | Net actuarial loss (gain) | 173 | 171 | 48 | 51 | (1) | — | 12 | 15 | Net actuarial loss (gain) | 100 | 116 | 27 | 32 | (3) | (1) | 2 | 8 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Settlement loss (gain)(1) | — | — | 5 | (3) | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Curtailment (gain)(1) | Curtailment (gain)(1) | — | — | (23) | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Settlement (gain) loss(1) | Settlement (gain) loss(1) | — | — | (10) | 4 | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total net (benefit) expense | Total net (benefit) expense | $ | (91) | $ | (153) | $ | 172 | $ | 154 | $ | (9) | $ | 1 | $ | 20 | $ | 26 | Total net (benefit) expense | $ | (16) | $ | (62) | $ | 75 | $ | 118 | $ | (7) | $ | (6) | $ | 7 | $ | 13 |
Nine Months Ended September 30, 2021 | ||||||||||||||
Pension plans | Postretirement benefit plans | |||||||||||||
In millions of dollars | U.S. plans | Non-U.S. plans | U.S. plans | Non-U.S. plans | ||||||||||
Change in projected benefit obligation | ||||||||||||||
Projected benefit obligation at beginning of year | $ | 13,815 | $ | 8,629 | $ | 559 | $ | 1,390 | ||||||
Plans measured annually | (25) | (2,248) | — | (277) | ||||||||||
Projected benefit obligation at beginning of year—Significant Plans | $ | 13,790 | $ | 6,381 | $ | 559 | $ | 1,113 | ||||||
First quarter activity | (983) | (572) | (37) | (146) | ||||||||||
Second quarter activity | 265 | 138 | (6) | 53 | ||||||||||
Projected benefit obligation at June 30, 2021—Significant Plans | $ | 13,072 | $ | 5,947 | $ | 516 | $ | 1,020 | ||||||
Benefits earned during the period | — | 20 | — | 1 | ||||||||||
Interest cost on benefit obligation | 87 | 58 | 3 | 23 | ||||||||||
Actuarial gain | (63) | (65) | (4) | (29) | ||||||||||
Benefits paid, net of participants’ contributions and government subsidy | (249) | (87) | (12) | (15) | ||||||||||
Settlement gain(1) | — | (8) | — | — | ||||||||||
Curtailment gain(1) | — | (14) | — | — | ||||||||||
Foreign exchange impact and other | — | (147) | — | (32) | ||||||||||
Projected benefit obligation at period end—Significant Plans | $ | 12,847 | $ | 5,704 | $ | 503 | $ | 968 | ||||||
Change in plan assets | ||||||||||||||
Plan assets at fair value at beginning of year | $ | 13,309 | $ | 7,831 | $ | 331 | $ | 1,146 | ||||||
Plans measured annually | — | (1,500) | — | (8) | ||||||||||
Plan assets at fair value at beginning of year—Significant Plans | $ | 13,309 | $ | 6,331 | $ | 331 | $ | 1,138 | ||||||
First quarter activity | (435) | (404) | (8) | (44) | ||||||||||
Second quarter activity | 320 | 213 | 5 | 35 | ||||||||||
Plan assets at fair value at June 30, 2021—Significant Plans | $ | 13,194 | $ | 6,140 | $ | 328 | $ | 1,129 | ||||||
Actual return on plan assets | 86 | 32 | 1 | 18 | ||||||||||
Company contributions, net of reimbursements | 13 | 16 | 10 | — | ||||||||||
Benefits paid, net of participants’ contributions and government subsidy | (249) | (87) | (12) | (15) | ||||||||||
Settlements gain(1) | — | (8) | — | — | ||||||||||
Foreign exchange impact and other | — | (130) | — | (36) | ||||||||||
Plan assets at fair value at period end—Significant Plans | $ | 13,044 | $ | 5,963 | $ | 327 | $ | 1,096 | ||||||
Qualified plans(2) | $ | 865 | $ | 259 | $ | (176) | $ | 128 | ||||||
Nonqualified plans(3) | (668) | — | — | — | ||||||||||
Funded status of the plans at period end—Significant Plans | $ | 197 | $ | 259 | $ | (176) | $ | 128 | ||||||
Net amount recognized at period end | ||||||||||||||
Benefit asset | $ | 865 | $ | 808 | $ | — | $ | 128 | ||||||
Benefit liability | (668) | (549) | (176) | — | ||||||||||
Net amount recognized on the balance sheet—Significant Plans | $ | 197 | $ | 259 | $ | (176) | $ | 128 | ||||||
Amounts recognized in AOCI at period end | ||||||||||||||
Prior service benefit | $ | — | $ | (1) | $ | 94 | $ | 51 | ||||||
Net actuarial (loss) gain | (6,580) | (884) | 86 | (207) | ||||||||||
Net amount recognized in equity (pretax)—Significant Plans | $ | (6,580) | $ | (885) | $ | 180 | $ | (156) | ||||||
Accumulated benefit obligation at period end—Significant Plans | $ | 12,845 | $ | 5,425 | $ | 503 | $ | 968 |
Six Months Ended June 30, 2022 | ||||||||||||||
Pension plans | Postretirement benefit plans | |||||||||||||
In millions of dollars | U.S. plans | Non-U.S. plans | U.S. plans | Non-U.S. plans | ||||||||||
Change in projected benefit obligation | ||||||||||||||
Projected benefit obligation at beginning of year | $ | 12,766 | $ | 8,001 | $ | 501 | $ | 1,169 | ||||||
Plans measured annually | (23) | (2,071) | — | (298) | ||||||||||
Projected benefit obligation at beginning of year—Significant Plans | $ | 12,743 | $ | 5,930 | $ | 501 | $ | 871 | ||||||
First quarter activity | (1,234) | (285) | (50) | (71) | ||||||||||
Projected benefit obligation at June 30, 2022—Significant Plans | $ | 11,509 | $ | 5,645 | $ | 451 | $ | 800 | ||||||
Benefits earned during the period | — | 15 | — | — | ||||||||||
Interest cost on benefit obligation | 105 | 68 | 4 | 20 | ||||||||||
Actuarial (gain)(1) | (903) | (489) | (36) | (43) | ||||||||||
Benefits paid, net of participants’ contributions and government subsidy | (253) | (69) | (13) | (17) | ||||||||||
Settlement (gain)(2) | — | (246) | — | — | ||||||||||
Curtailment (gain)(2) | — | (23) | — | — | ||||||||||
Foreign exchange impact and other | — | (163) | — | (9) | ||||||||||
Projected benefit obligation at period end—Significant Plans | $ | 10,458 | $ | 4,738 | $ | 406 | $ | 751 | ||||||
Change in plan assets | ||||||||||||||
Plan assets at fair value at beginning of year | $ | 12,977 | $ | 7,614 | $ | 319 | $ | 1,043 | ||||||
Plans measured annually | — | (1,419) | — | (7) | ||||||||||
Plan assets at fair value at beginning of year—Significant Plans | $ | 12,977 | $ | 6,195 | $ | 319 | $ | 1,036 | ||||||
First quarter activity | (1,030) | (226) | (19) | (135) | ||||||||||
Plan assets at fair value at June 30, 2022—Significant Plans | $ | 11,947 | $ | 5,969 | $ | 300 | $ | 901 | ||||||
Actual return on plan assets | (868) | (512) | (15) | (45) | ||||||||||
Company contributions, net of reimbursements | 13 | 208 | (6) | — | ||||||||||
Benefits paid, net of participants’ contributions and government subsidy | (253) | (69) | (13) | (17) | ||||||||||
Settlement (gain)(2) | — | (246) | — | — | ||||||||||
Foreign exchange impact and other | — | (143) | — | (11) | ||||||||||
Plan assets at fair value at period end—Significant Plans | $ | 10,839 | $ | 5,207 | $ | 266 | $ | 828 | ||||||
Qualified plans(3) | $ | 940 | $ | 469 | $ | (140) | $ | 77 | ||||||
Nonqualified plans(4) | (559) | — | — | — | ||||||||||
Funded status of the plans at period end—Significant Plans | $ | 381 | $ | 469 | $ | (140) | $ | 77 | ||||||
Net amount recognized at period end | ||||||||||||||
Benefit asset | $ | 940 | $ | 844 | $ | — | $ | 77 | ||||||
Benefit liability | (559) | (375) | (140) | — | ||||||||||
Net amount recognized on the balance sheet—Significant Plans | $ | 381 | $ | 469 | $ | (140) | $ | 77 | ||||||
Amounts recognized in AOCI at period end(5) | ||||||||||||||
Prior service benefit | $ | — | $ | — | $ | 87 | $ | 37 | ||||||
Net actuarial (loss) gain | (6,464) | (992) | 119 | (213) | ||||||||||
Net amount recognized in equity (pretax)—Significant Plans | $ | (6,464) | $ | (992) | $ | 206 | $ | (176) | ||||||
Accumulated benefit obligation at period end—Significant Plans | $ | 10,457 | $ | 4,563 | $ | 406 | $ | 751 |
In millions of dollars | Three Months Ended September 30, 2021 | Nine Months Ended September 30, 2021 | |||||||||
Beginning of period balance, net of tax(1)(2) | $ | (6,063) | $ | (6,864) | |||||||
Actuarial assumptions changes and plan experience | 175 | 1,125 | |||||||||
Net asset loss due to difference between actual and expected returns | (116) | (325) | |||||||||
Net amortization | 69 | 216 | |||||||||
Curtailment/settlement gain (loss)(3) | 1 | (3) | |||||||||
Foreign exchange impact and other | 46 | 153 | |||||||||
Change in deferred taxes, net | (40) | (230) | |||||||||
Change, net of tax | $ | 135 | $ | 936 | |||||||
End of period balance, net of tax(1)(2) | $ | (5,928) | $ | (5,928) |
In millions of dollars | Three Months Ended June 30, 2022 | Six Months Ended June 30, 2022 | ||||||||||||
Beginning of period balance, net of tax(1)(2) | $ | (5,681) | $ | (5,852) | ||||||||||
Actuarial assumptions changes and plan experience | 1,499 | 3,024 | ||||||||||||
Net asset (loss) due to difference between actual and expected returns | (1,675) | (3,137) | ||||||||||||
Net amortization | 52 | 116 | ||||||||||||
Curtailment/settlement (gain)(3) | (32) | (32) | ||||||||||||
Foreign exchange impact and other | 83 | 133 | ||||||||||||
Change in deferred taxes, net | (16) | (22) | ||||||||||||
Change, net of tax | $ | (89) | $ | 82 | ||||||||||
End of period balance, net of tax(1)(2) | $ | (5,770) | $ | (5,770) |
Net (benefit) expense assumed discount rates during the period | Net (benefit) expense assumed discount rates during the period | Three Months Ended | Net (benefit) expense assumed discount rates during the period | Three Months Ended | ||||||||||||||||||
Sept. 30, 2021 | Sept. 30, 2020 | Net (benefit) expense assumed discount rates during the period | Jun. 30, 2022 | Jun. 30, 2021 | ||||||||||||||||||
U.S. plans | U.S. plans | |||||||||||||||||||||
Qualified pension | Qualified pension | 2.75 | % | 2.60 | % | Qualified pension | 3.80 | % | 3.10 | % | ||||||||||||
Nonqualified pension | Nonqualified pension | 2.70 | 2.55 | Nonqualified pension | 3.85 | 3.00 | ||||||||||||||||
Postretirement | Postretirement | 2.60 | 2.45 | Postretirement | 3.85 | 2.85 | ||||||||||||||||
Non-U.S. plans | Non-U.S. plans | Non-U.S. plans | ||||||||||||||||||||
Pension | Pension | 0.25–9.25 | 0.20–8.40 | Pension | 1.10–10.00 | 0.25–9.30 | ||||||||||||||||
Weighted average | Weighted average | 4.23 | 3.68 | Weighted average | 5.55 | 4.26 | ||||||||||||||||
Postretirement | Postretirement | 9.50 | 8.80 | Postretirement | 10.10 | 9.70 |
Plan obligations assumed discount rates at period ended | Sept. 30, 2021 | Jun. 30, 2021 | Mar. 31, 2021 | |||||||||||
U.S. plans | ||||||||||||||
Qualified pension | 2.80 | % | 2.75 | % | 3.10 | % | ||||||||
Nonqualified pension | 2.75 | 2.70 | 3.00 | |||||||||||
Postretirement | 2.65 | 2.60 | 2.85 | |||||||||||
Non-U.S. plans | ||||||||||||||
Pension | 0.30–9.55 | 0.25–9.25 | 0.25–9.30 | |||||||||||
Weighted average | 4.37 | 4.23 | 4.26 | |||||||||||
Postretirement | 9.80 | 9.50 | 9.70 |
Plan obligations assumed discount rates at period ended | Jun. 30, 2022 | Mar. 31, 2022 | Dec. 31, 2021 | |||||||||||
U.S. plans | ||||||||||||||
Qualified pension | 4.80 | % | 3.80 | % | 2.80 | % | ||||||||
Nonqualified pension | 4.80 | 3.85 | 2.80 | |||||||||||
Postretirement | 4.75 | 3.85 | 2.75 | |||||||||||
Non-U.S. plans | ||||||||||||||
Pension | 2.00–10.75 | 1.10–10.00 | 0.25–9.80 | |||||||||||
Weighted average | 6.68 | 5.55 | 4.56 | |||||||||||
Postretirement | 10.75 | 10.10 | 10.00 |
Three Months Ended September 30, 2021 | ||||||||||||||
In millions of dollars | One-percentage-point increase | One-percentage-point decrease | ||||||||||||
Pension | ||||||||||||||
U.S. plans | $ | 9 | $ | (12) | ||||||||||
Non-U.S. plans | 1 | 3 | ||||||||||||
Postretirement | ||||||||||||||
U.S. plans | — | (1) | ||||||||||||
Non-U.S. plans | (2) | 2 |
Three Months Ended June 30, 2022 | ||||||||||||||
In millions of dollars | One-percentage-point increase | One-percentage-point decrease | ||||||||||||
Pension | ||||||||||||||
U.S. plans | $ | 7 | $ | (9) | ||||||||||
Non-U.S. plans | 5 | 6 | ||||||||||||
Postretirement | ||||||||||||||
U.S. plans | — | — | ||||||||||||
Non-U.S. plans | (1) | 1 |
Pension plans | Postretirement plans | |||||||||||||||||||||||||||||||||||||
U.S. plans(1) | Non-U.S. plans | U.S. plans | Non-U.S. plans | |||||||||||||||||||||||||||||||||||
In millions of dollars | 2021 | 2020 | 2021 | 2020 | 2021 | 2020 | 2021 | 2020 | ||||||||||||||||||||||||||||||
Company contributions(2) for the nine months ended September 30 | $ | 41 | $ | 42 | $ | 116 | $ | 111 | $ | 19 | $ | — | $ | 6 | $ | 6 | ||||||||||||||||||||||
Company contributions (reimbursements) made during the remainder of the year | — | 14 | — | 47 | — | (15) | — | 3 | ||||||||||||||||||||||||||||||
Company contributions expected to be made during the remainder of the year | 16 | — | 36 | — | 2 | — | 2 | — | ||||||||||||||||||||||||||||||
Pension plans | Postretirement plans | |||||||||||||||||||||||||||||||||||||
U.S. plans(1) | Non-U.S. plans | U.S. plans | Non-U.S. plans | |||||||||||||||||||||||||||||||||||
In millions of dollars | 2022 | 2021 | 2022 | 2021 | 2022 | 2021 | 2022 | 2021 | ||||||||||||||||||||||||||||||
Company contributions (reimbursements)(2)(3) for the six months ended June 30 | $ | 28 | $ | 27 | $ | 389 | $ | 78 | $ | (1) | $ | 9 | $ | 5 | $ | 4 | ||||||||||||||||||||||
Company contributions during the remainder of the year | — | 29 | — | 77 | — | 13 | — | 4 | ||||||||||||||||||||||||||||||
Company contributions expected to be made during the remainder of the year(3) | 31 | — | 52 | — | 3 | — | 4 | — | ||||||||||||||||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||
In millions of dollars | 2021 | 2020 | 2021 | 2020 | ||||||||||
U.S. plans | $ | 113 | $ | 101 | $ | 324 | $ | 304 | ||||||
Non-U.S. plans | 87 | 73 | 270 | 223 |
Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||
In millions of dollars | 2022 | 2021 | 2022 | 2021 | ||||||||||
U.S. plans | $ | 119 | $ | 106 | $ | 238 | $ | 211 | ||||||
Non-U.S. plans | 99 | 91 | 205 | 183 |
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||
In millions of dollars | 2021 | 2020 | 2021 | 2020 | ||||||||||
Service-related expense | ||||||||||||||
Interest cost on benefit obligation | $ | — | $ | 1 | $ | — | $ | 1 | ||||||
Amortization of unrecognized: | ||||||||||||||
Net actuarial loss | 1 | — | 2 | 1 | ||||||||||
Total service-related expense | $ | 1 | $ | 1 | $ | 2 | $ | 2 | ||||||
Non-service-related expense | $ | 3 | $ | 4 | $ | 7 | $ | 12 | ||||||
Total net expense | $ | 4 | $ | 5 | $ | 9 | $ | 14 |
Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||
In millions of dollars | 2022 | 2021 | 2022 | 2021 | ||||||||||
Service-related expense | ||||||||||||||
Amortization of unrecognized: | ||||||||||||||
Net actuarial loss | $ | 1 | $ | 1 | $ | 1 | $ | 1 | ||||||
Total service-related expense | $ | 1 | $ | 1 | $ | 1 | $ | 1 | ||||||
Non-service-related expense (benefit) | $ | 1 | $ | (1) | $ | 6 | $ | 4 | ||||||
Total net expense | $ | 2 | $ | — | $ | 7 | $ | 5 |
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||
In millions of dollars, except per share amounts | 2021 | 2020 | 2021 | 2020 | ||||||||||
Earnings per common share | ||||||||||||||
Income from continuing operations before attribution of noncontrolling interests | $ | 4,669 | $ | 3,177 | $ | 18,839 | $ | 6,782 | ||||||
Less: Noncontrolling interests from continuing operations | 24 | 24 | 67 | 18 | ||||||||||
Net income from continuing operations (for EPS purposes) | $ | 4,645 | $ | 3,153 | $ | 18,772 | $ | 6,764 | ||||||
Income (loss) from discontinued operations, net of taxes | (1) | (7) | 7 | (26) | ||||||||||
Citigroup’s net income | $ | 4,644 | $ | 3,146 | $ | 18,779 | $ | 6,738 | ||||||
Less: Preferred dividends(1) | 266 | 284 | 811 | 828 | ||||||||||
Net income available to common shareholders | $ | 4,378 | $ | 2,862 | $ | 17,968 | $ | 5,910 | ||||||
Less: Dividends and undistributed earnings allocated to employee restricted and deferred shares with rights to dividends, applicable to basic EPS | 26 | 18 | 134 | 50 | ||||||||||
Net income allocated to common shareholders for basic EPS | $ | 4,352 | $ | 2,844 | $ | 17,834 | $ | 5,860 | ||||||
Weighted-average common shares outstanding applicable to basic EPS (in millions) | 2,009.3 | 2,081.8 | 2,049.3 | 2,087.1 | ||||||||||
Basic earnings per share(2) | ||||||||||||||
Income from continuing operations | $ | 2.17 | $ | 1.37 | $ | 8.70 | $ | 2.82 | ||||||
Discontinued operations | — | — | — | (0.01) | ||||||||||
Net income per share—basic | $ | 2.17 | $ | 1.37 | $ | 8.70 | $ | 2.81 | ||||||
Diluted earnings per share | ||||||||||||||
Net income allocated to common shareholders for basic EPS | $ | 4,352 | $ | 2,844 | $ | 17,834 | $ | 5,860 | ||||||
Add back: Dividends allocated to employee restricted and deferred shares with rights to dividends that are forfeitable | 8 | 7 | 23 | 22 | ||||||||||
Net income allocated to common shareholders for diluted EPS | $ | 4,360 | $ | 2,851 | $ | 17,857 | $ | 5,882 | ||||||
Weighted-average common shares outstanding applicable to basic EPS (in millions) | 2,009.3 | 2,081.8 | 2,049.3 | 2,087.1 | ||||||||||
Effect of dilutive securities | ||||||||||||||
Options(3) | — | — | — | — | ||||||||||
Other employee plans | 16.9 | 12.5 | 16.0 | 13.0 | ||||||||||
Adjusted weighted-average common shares outstanding applicable to diluted EPS (in millions)(4) | 2,026.2 | 2,094.3 | 2,065.3 | 2,100.1 | ||||||||||
Diluted earnings per share(2) | ||||||||||||||
Income from continuing operations | $ | 2.15 | $ | 1.36 | $ | 8.64 | $ | 2.81 | ||||||
Discontinued operations | — | — | — | (0.01) | ||||||||||
Net income per share—diluted | $ | 2.15 | $ | 1.36 | $ | 8.65 | $ | 2.80 |
Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||
In millions of dollars, except per share amounts | 2022 | 2021 | 2022 | 2021 | ||||||||||
Earnings per common share | ||||||||||||||
Income from continuing operations before attribution to noncontrolling interests | $ | 4,789 | $ | 6,193 | $ | 9,114 | $ | 14,170 | ||||||
Less: Noncontrolling interests from continuing operations | 21 | 10 | 38 | 43 | ||||||||||
Net income from continuing operations (for EPS purposes) | $ | 4,768 | $ | 6,183 | $ | 9,076 | $ | 14,127 | ||||||
Income (loss) from discontinued operations, net of taxes | (221) | 10 | (223) | 8 | ||||||||||
Citigroup’s net income | $ | 4,547 | $ | 6,193 | $ | 8,853 | $ | 14,135 | ||||||
Less: Preferred dividends | 238 | 253 | 517 | 545 | ||||||||||
Net income available to common shareholders | $ | 4,309 | $ | 5,940 | $ | 8,336 | $ | 13,590 | ||||||
Less: Dividends and undistributed earnings allocated to employee restricted and deferred shares with rights to dividends, applicable to basic EPS | 35 | 41 | 60 | 107 | ||||||||||
Net income allocated to common shareholders for basic EPS | $ | 4,274 | $ | 5,899 | $ | 8,276 | $ | 13,483 | ||||||
Weighted-average common shares outstanding applicable to basic EPS (in millions) | 1,941.5 | 2,056.5 | 1,956.6 | 2,069.3 | ||||||||||
Basic earnings per share(1) | ||||||||||||||
Income from continuing operations | $ | 2.32 | $ | 2.86 | $ | 4.34 | $ | 6.51 | ||||||
Discontinued operations | (0.11) | — | (0.11) | — | ||||||||||
Net income per share—basic | $ | 2.20 | $ | 2.87 | $ | 4.23 | $ | 6.52 | ||||||
Diluted earnings per share | ||||||||||||||
Net income allocated to common shareholders for basic EPS | $ | 4,274 | $ | 5,899 | $ | 8,276 | $ | 13,483 | ||||||
Add back: Dividends allocated to employee restricted and deferred shares with rights to dividends that are forfeitable | 11 | 8 | 19 | 15 | ||||||||||
Net income allocated to common shareholders for diluted EPS | $ | 4,285 | $ | 5,907 | $ | 8,295 | $ | 13,498 | ||||||
Weighted-average common shares outstanding applicable to basic EPS (in millions) | 1,941.5 | 2,056.5 | 1,956.6 | 2,069.3 | ||||||||||
Effect of dilutive securities | ||||||||||||||
Options(2) | — | — | — | — | ||||||||||
Other employee plans | 16.6 | 16.5 | 16.6 | 15.5 | ||||||||||
Adjusted weighted-average common shares outstanding applicable to diluted EPS (in millions)(3) | 1,958.1 | 2,073.0 | 1,973.2 | 2,084.8 | ||||||||||
Diluted earnings per share(1) | ||||||||||||||
Income from continuing operations | $ | 2.30 | $ | 2.84 | $ | 4.32 | $ | 6.47 | ||||||
Discontinued operations | (0.11) | — | (0.11) | — | ||||||||||
Net income per share—diluted | $ | 2.19 | $ | 2.85 | $ | 4.20 | $ | 6.47 |
In millions of dollars | In millions of dollars | September 30, 2021 | December 31, 2020 | In millions of dollars | June 30, 2022 | December 31, 2021 | ||||||||||
Securities purchased under agreements to resell | Securities purchased under agreements to resell | $ | 234,191 | $ | 204,655 | Securities purchased under agreements to resell | $ | 271,890 | $ | 236,252 | ||||||
Deposits paid for securities borrowed | Deposits paid for securities borrowed | 103,514 | 90,067 | Deposits paid for securities borrowed | 89,471 | 91,042 | ||||||||||
Total, net(1) | Total, net(1) | $ | 337,705 | $ | 294,722 | Total, net(1) | $ | 361,361 | $ | 327,294 | ||||||
Allowance for credit losses on securities purchased and borrowed(2) | Allowance for credit losses on securities purchased and borrowed(2) | (9) | (10) | Allowance for credit losses on securities purchased and borrowed(2) | (27) | (6) | ||||||||||
Total, net of allowance | Total, net of allowance | $ | 337,696 | $ | 294,712 | Total, net of allowance | $ | 361,334 | $ | 327,288 |
In millions of dollars | In millions of dollars | September 30, 2021 | December 31, 2020 | In millions of dollars | June 30, 2022 | December 31, 2021 | ||||||||||
Securities sold under agreements to repurchase | Securities sold under agreements to repurchase | $ | 188,998 | $ | 181,194 | Securities sold under agreements to repurchase | $ | 177,977 | $ | 174,255 | ||||||
Deposits received for securities loaned | Deposits received for securities loaned | 20,186 | 18,331 | Deposits received for securities loaned | 20,495 | 17,030 | ||||||||||
Total, net(1) | Total, net(1) | $ | 209,184 | $ | 199,525 | Total, net(1) | $ | 198,472 | $ | 191,285 |
As of September 30, 2021 | As of June 30, 2022 | |||||||||||||||||||||||||||||||||
In millions of dollars | In millions of dollars | Gross amounts of recognized assets | Gross amounts offset on the Consolidated Balance Sheet(1) | Net amounts of assets included on the Consolidated Balance Sheet | Amounts not offset on the Consolidated Balance Sheet but eligible for offsetting upon counterparty default(2) | Net amounts(3) | In millions of dollars | Gross amounts of recognized assets | Gross amounts offset on the Consolidated Balance Sheet(1) | Net amounts of assets included on the Consolidated Balance Sheet | Amounts not offset on the Consolidated Balance Sheet but eligible for offsetting upon counterparty default(2) | Net amounts(3) | ||||||||||||||||||||||
Securities purchased under agreements to resell | Securities purchased under agreements to resell | $ | 355,702 | $ | 121,511 | $ | 234,191 | $ | 178,517 | $ | 55,674 | Securities purchased under agreements to resell | $ | 371,889 | $ | 99,999 | $ | 271,890 | $ | 179,718 | $ | 92,172 | ||||||||||||
Deposits paid for securities borrowed | Deposits paid for securities borrowed | 120,159 | 16,645 | 103,514 | 22,145 | 81,369 | Deposits paid for securities borrowed | 98,890 | 9,419 | 89,471 | 12,690 | 76,781 | ||||||||||||||||||||||
Total | Total | $ | 475,861 | $ | 138,156 | $ | 337,705 | $ | 200,662 | $ | 137,043 | Total | $ | 470,779 | $ | 109,418 | $ | 361,361 | $ | 192,408 | $ | 168,953 |
In millions of dollars | In millions of dollars | Gross amounts of recognized liabilities | Gross amounts offset on the Consolidated Balance Sheet(1) | Net amounts of liabilities included on the Consolidated Balance Sheet | Amounts not offset on the Consolidated Balance Sheet but eligible for offsetting upon counterparty default(2) | Net amounts(3) | In millions of dollars | Gross amounts of recognized liabilities | Gross amounts offset on the Consolidated Balance Sheet(1) | Net amounts of liabilities included on the Consolidated Balance Sheet | Amounts not offset on the Consolidated Balance Sheet but eligible for offsetting upon counterparty default(2) | Net amounts(3) | ||||||||||||||||||||||
Securities sold under agreements to repurchase | Securities sold under agreements to repurchase | $ | 310,509 | $ | 121,511 | $ | 188,998 | $ | 87,606 | $ | 101,392 | Securities sold under agreements to repurchase | $ | 277,976 | $ | 99,999 | $ | 177,977 | $ | 72,056 | $ | 105,921 | ||||||||||||
Deposits received for securities loaned | Deposits received for securities loaned | 36,831 | 16,645 | 20,186 | 3,587 | 16,599 | Deposits received for securities loaned | 29,914 | 9,419 | 20,495 | 2,517 | 17,978 | ||||||||||||||||||||||
Total | Total | $ | 347,340 | $ | 138,156 | $ | 209,184 | $ | 91,193 | $ | 117,991 | Total | $ | 307,890 | $ | 109,418 | $ | 198,472 | $ | 74,573 | $ | 123,899 |
As of December 31, 2020 | As of December 31, 2021 | |||||||||||||||||||||||||||||||||||||||
In millions of dollars | In millions of dollars | Gross amounts of recognized assets | Gross amounts offset on the Consolidated Balance Sheet(1) | Net amounts of assets included on the Consolidated Balance Sheet | Amounts not offset on the Consolidated Balance Sheet but eligible for offsetting upon counterparty default(2) | Net amounts(3) | In millions of dollars | Gross amounts of recognized assets | Gross amounts offset on the Consolidated Balance Sheet(1) | Net amounts of assets included on the Consolidated Balance Sheet | Amounts not offset on the Consolidated Balance Sheet but eligible for offsetting upon counterparty default(2) | Net amounts(3) | ||||||||||||||||||||||||||||
Securities purchased under agreements to resell | Securities purchased under agreements to resell | $ | 362,025 | $ | 157,370 | $ | 204,655 | $ | 159,232 | $ | 45,423 | Securities purchased under agreements to resell | $ | 367,594 | $ | 131,342 | $ | 236,252 | $ | 205,349 | $ | 30,903 | ||||||||||||||||||
Deposits paid for securities borrowed | Deposits paid for securities borrowed | 96,425 | 6,358 | 90,067 | 13,474 | 76,593 | Deposits paid for securities borrowed | 107,041 | 15,999 | 91,042 | 17,326 | 73,716 | ||||||||||||||||||||||||||||
Total | Total | $ | 458,450 | $ | 163,728 | $ | 294,722 | $ | 172,706 | $ | 122,016 | Total | $ | 474,635 | $ | 147,341 | $ | 327,294 | $ | 222,675 | $ | 104,619 |
In millions of dollars | In millions of dollars | Gross amounts of recognized liabilities | Gross amounts offset on the Consolidated Balance Sheet(1) | Net amounts of liabilities included on the Consolidated Balance Sheet | Amounts not offset on the Consolidated Balance Sheet but eligible for offsetting upon counterparty default(2) | Net amounts(3) | In millions of dollars | Gross amounts of recognized liabilities | Gross amounts offset on the Consolidated Balance Sheet(1) | Net amounts of liabilities included on the Consolidated Balance Sheet | Amounts not offset on the Consolidated Balance Sheet but eligible for offsetting upon counterparty default(2) | Net amounts(3) | ||||||||||||||||||||||
Securities sold under agreements to repurchase | Securities sold under agreements to repurchase | $ | 338,564 | $ | 157,370 | $ | 181,194 | $ | 95,563 | $ | 85,631 | Securities sold under agreements to repurchase | $ | 305,597 | $ | 131,342 | $ | 174,255 | $ | 85,184 | $ | 89,071 | ||||||||||||
Deposits received for securities loaned | Deposits received for securities loaned | 24,689 | 6,358 | 18,331 | 7,982 | 10,349 | Deposits received for securities loaned | 33,029 | 15,999 | 17,030 | 2,868 | 14,162 | ||||||||||||||||||||||
Total | Total | $ | 363,253 | $ | 163,728 | $ | 199,525 | $ | 103,545 | $ | 95,980 | Total | $ | 338,626 | $ | 147,341 | $ | 191,285 | $ | 88,052 | $ | 103,233 |
As of September 30, 2021 | |||||||||||||||||
In millions of dollars | Open and overnight | Up to 30 days | 31–90 days | Greater than 90 days | Total | ||||||||||||
Securities sold under agreements to repurchase | $ | 137,111 | $ | 87,435 | $ | 33,974 | $ | 51,989 | $ | 310,509 | |||||||
Deposits received for securities loaned | 26,931 | 42 | 2,088 | 7,770 | 36,831 | ||||||||||||
Total | $ | 164,042 | $ | 87,477 | $ | 36,062 | $ | 59,759 | $ | 347,340 |
As of June 30, 2022 | |||||||||||||||||
In millions of dollars | Open and overnight | Up to 30 days | 31–90 days | Greater than 90 days | Total | ||||||||||||
Securities sold under agreements to repurchase | $ | 122,684 | $ | 74,776 | $ | 27,466 | $ | 53,050 | $ | 277,976 | |||||||
Deposits received for securities loaned | 20,504 | 1 | 1,452 | 7,957 | 29,914 | ||||||||||||
Total | $ | 143,188 | $ | 74,777 | $ | 28,918 | $ | 61,007 | $ | 307,890 |
As of December 31, 2020 | As of December 31, 2021 | |||||||||||||||||||||||||||||||||
In millions of dollars | In millions of dollars | Open and overnight | Up to 30 days | 31–90 days | Greater than 90 days | Total | In millions of dollars | Open and overnight | Up to 30 days | 31–90 days | Greater than 90 days | Total | ||||||||||||||||||||||
Securities sold under agreements to repurchase | Securities sold under agreements to repurchase | $ | 160,754 | $ | 98,226 | $ | 41,679 | $ | 37,905 | $ | 338,564 | Securities sold under agreements to repurchase | $ | 127,679 | $ | 93,257 | $ | 32,908 | $ | 51,753 | $ | 305,597 | ||||||||||||
Deposits received for securities loaned | Deposits received for securities loaned | 17,038 | 3 | 2,770 | 4,878 | 24,689 | Deposits received for securities loaned | 23,387 | 6 | 1,392 | 8,244 | 33,029 | ||||||||||||||||||||||
Total | Total | $ | 177,792 | $ | 98,229 | $ | 44,449 | $ | 42,783 | $ | 363,253 | Total | $ | 151,066 | $ | 93,263 | $ | 34,300 | $ | 59,997 | $ | 338,626 |
As of September 30, 2021 | |||||||||||
In millions of dollars | Repurchase agreements | Securities lending agreements | Total | ||||||||
U.S. Treasury and federal agency securities | $ | 108,346 | $ | 2 | $ | 108,348 | |||||
State and municipal securities | 996 | — | 996 | ||||||||
Foreign government securities | 134,204 | 200 | 134,404 | ||||||||
Corporate bonds | 22,914 | 297 | 23,211 | ||||||||
Equity securities | 22,025 | 36,202 | 58,227 | ||||||||
Mortgage-backed securities | 16,576 | — | 16,576 | ||||||||
Asset-backed securities | 1,571 | — | 1,571 | ||||||||
Other | 3,877 | 130 | 4,007 | ||||||||
Total | $ | 310,509 | $ | 36,831 | $ | 347,340 |
As of June 30, 2022 | |||||||||||
In millions of dollars | Repurchase agreements | Securities lending agreements | Total | ||||||||
U.S. Treasury and federal agency securities | $ | 92,263 | $ | — | $ | 92,263 | |||||
State and municipal securities | 993 | — | 993 | ||||||||
Foreign government securities | 125,611 | 127 | 125,738 | ||||||||
Corporate bonds | 15,494 | 133 | 15,627 | ||||||||
Equity securities | 11,428 | 29,637 | 41,065 | ||||||||
Mortgage-backed securities | 23,506 | — | 23,506 | ||||||||
Asset-backed securities | 1,683 | — | 1,683 | ||||||||
Other | 6,998 | 17 | 7,015 | ||||||||
Total | $ | 277,976 | $ | 29,914 | $ | 307,890 |
As of December 31, 2020 | As of December 31, 2021 | |||||||||||||||||||||
In millions of dollars | In millions of dollars | Repurchase agreements | Securities lending agreements | Total | In millions of dollars | Repurchase agreements | Securities lending agreements | Total | ||||||||||||||
U.S. Treasury and federal agency securities | U.S. Treasury and federal agency securities | $ | 112,437 | $ | — | $ | 112,437 | U.S. Treasury and federal agency securities | $ | 85,861 | $ | 90 | $ | 85,951 | ||||||||
State and municipal securities | State and municipal securities | 664 | 2 | 666 | State and municipal securities | 1,053 | — | 1,053 | ||||||||||||||
Foreign government securities | Foreign government securities | 130,017 | 194 | 130,211 | Foreign government securities | 133,352 | 212 | 133,564 | ||||||||||||||
Corporate bonds | Corporate bonds | 20,149 | 78 | 20,227 | Corporate bonds | 20,398 | 152 | 20,550 | ||||||||||||||
Equity securities | Equity securities | 21,497 | 24,149 | 45,646 | Equity securities | 25,653 | 32,517 | 58,170 | ||||||||||||||
Mortgage-backed securities | Mortgage-backed securities | 45,566 | — | 45,566 | Mortgage-backed securities | 33,573 | — | 33,573 | ||||||||||||||
Asset-backed securities | Asset-backed securities | 3,307 | — | 3,307 | Asset-backed securities | 1,681 | — | 1,681 | ||||||||||||||
Other | Other | 4,927 | 266 | 5,193 | Other | 4,026 | 58 | 4,084 | ||||||||||||||
Total | Total | $ | 338,564 | $ | 24,689 | $ | 363,253 | Total | $ | 305,597 | $ | 33,029 | $ | 338,626 |
In millions of dollars | September 30, 2021 | December 31, 2020 | ||||||
Receivables from customers | $ | 21,833 | $ | 18,097 | ||||
Receivables from brokers, dealers and clearing organizations | 37,654 | 26,709 | ||||||
Total brokerage receivables(1) | $ | 59,487 | $ | 44,806 | ||||
Payables to customers | $ | 48,300 | $ | 39,319 | ||||
Payables to brokers, dealers and clearing organizations | 12,201 | 11,165 | ||||||
Total brokerage payables(1) | $ | 60,501 | $ | 50,484 |
In millions of dollars | June 30, 2022 | December 31, 2021 | ||||||
Receivables from customers | $ | 25,531 | $ | 26,403 | ||||
Receivables from brokers, dealers and clearing organizations | 54,955 | 27,937 | ||||||
Total brokerage receivables(1) | $ | 80,486 | $ | 54,340 | ||||
Payables to customers | $ | 75,299 | $ | 52,158 | ||||
Payables to brokers, dealers and clearing organizations | 21,175 | 9,272 | ||||||
Total brokerage payables(1) | $ | 96,474 | $ | 61,430 |
In millions of dollars | In millions of dollars | September 30, 2021 | December 31, 2020 | In millions of dollars | June 30, 2022 | December 31, 2021 | |||||||||||||||||
In millions of dollars | June 30, 2022 | December 31, 2021 | |||||||||||||||||||||
Debt securities available-for-sale (AFS) | Debt securities available-for-sale (AFS) | $ | 295,573 | $ | 335,084 | Debt securities available-for-sale (AFS) | $ | 238,499 | $ | 288,522 | |||||||||||||
Debt securities held-to-maturity (HTM)(1) | Debt securities held-to-maturity (HTM)(1) | 198,056 | 104,943 | Debt securities held-to-maturity (HTM)(1) | 267,592 | 216,963 | |||||||||||||||||
Marketable equity securities carried at fair value(2) | Marketable equity securities carried at fair value(2) | 379 | 515 | Marketable equity securities carried at fair value(2) | 588 | 543 | |||||||||||||||||
Non-marketable equity securities carried at fair value(2) | Non-marketable equity securities carried at fair value(2) | 539 | 551 | Non-marketable equity securities carried at fair value(2) | 458 | 489 | |||||||||||||||||
Non-marketable equity securities measured using the measurement alternative(3) | Non-marketable equity securities measured using the measurement alternative(3) | 1,392 | 962 | Non-marketable equity securities measured using the measurement alternative(3) | 1,670 | 1,413 | |||||||||||||||||
Non-marketable equity securities carried at cost(4) | Non-marketable equity securities carried at cost(4) | 4,910 | 5,304 | Non-marketable equity securities carried at cost(4) | 5,071 | 4,892 | |||||||||||||||||
Total investments | Total investments | $ | 500,849 | $ | 447,359 | Total investments | $ | 513,878 | $ | 512,822 |
Three Months Ended September 30, | Nine Months Ended September 30, | Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||||||||||||
In millions of dollars | In millions of dollars | 2021 | 2020 | 2021 | 2020 | In millions of dollars | 2022 | 2021 | 2022 | 2021 | ||||||||||||||||||
Taxable interest | Taxable interest | $ | 1,777 | $ | 1,752 | $ | 5,152 | $ | 5,915 | Taxable interest | $ | 2,274 | $ | 1,723 | $ | 4,287 | $ | 3,375 | ||||||||||
Interest exempt from U.S. federal income tax | Interest exempt from U.S. federal income tax | 73 | 85 | 196 | 231 | Interest exempt from U.S. federal income tax | 38 | 57 | 43 | 123 | ||||||||||||||||||
Dividend income | Dividend income | 35 | 33 | 107 | 102 | Dividend income | 58 | 38 | 90 | 72 | ||||||||||||||||||
Total interest and dividend income on investments | Total interest and dividend income on investments | $ | 1,885 | $ | 1,870 | $ | 5,455 | $ | 6,248 | Total interest and dividend income on investments | $ | 2,370 | $ | 1,818 | $ | 4,420 | $ | 3,570 |
Three Months Ended September 30, | Nine Months Ended September 30, | Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||||||||||||
In millions of dollars | In millions of dollars | 2021 | 2020 | 2021 | 2020 | In millions of dollars | 2022 | 2021 | 2022 | 2021 | ||||||||||||||||||
Gross realized investment gains | Gross realized investment gains | $ | 142 | $ | 381 | $ | 757 | $ | 1,619 | Gross realized investment gains | $ | 27 | $ | 155 | $ | 180 | $ | 615 | ||||||||||
Gross realized investment losses | Gross realized investment losses | (25) | (77) | (102) | (135) | Gross realized investment losses | (85) | (18) | (158) | (77) | ||||||||||||||||||
Net realized gains on sales of investments | $ | 117 | $ | 304 | $ | 655 | $ | 1,484 | ||||||||||||||||||||
Net realized gains (losses) on sales of investments | Net realized gains (losses) on sales of investments | $ | (58) | $ | 137 | $ | 22 | $ | 538 |
September 30, 2021 | December 31, 2020 | June 30, 2022 | December 31, 2021 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
In millions of dollars | In millions of dollars | Amortized cost | Gross unrealized gains | Gross unrealized losses | Allowance for credit losses | Fair value | Amortized cost | Gross unrealized gains | Gross unrealized losses | Allowance for credit losses | Fair value | In millions of dollars | Amortized cost | Gross unrealized gains | Gross unrealized losses | Allowance for credit losses | Fair value | Amortized cost | Gross unrealized gains | Gross unrealized losses | Allowance for credit losses | Fair value | ||||||||||||||||||||||||||||||||||||||||||
Debt securities AFS | Debt securities AFS | Debt securities AFS | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Mortgage-backed securities(1) | Mortgage-backed securities(1) | Mortgage-backed securities(1) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
U.S. government-sponsored agency guaranteed | U.S. government-sponsored agency guaranteed | $ | 36,127 | $ | 743 | $ | 201 | $ | — | $ | 36,669 | $ | 42,836 | $ | 1,134 | $ | 52 | $ | — | $ | 43,918 | U.S. government-sponsored agency guaranteed | $ | 12,982 | $ | 25 | $ | 492 | $ | — | $ | 12,515 | $ | 33,064 | $ | 453 | $ | 301 | $ | — | $ | 33,216 | ||||||||||||||||||||||
Non-U.S. residential | Non-U.S. residential | 362 | 1 | — | — | 363 | 568 | 3 | — | — | 571 | Non-U.S. residential | 281 | — | 3 | — | 278 | 380 | 1 | 1 | — | 380 | ||||||||||||||||||||||||||||||||||||||||||
Commercial | Commercial | 34 | — | — | — | 34 | 49 | 1 | — | — | 50 | Commercial | 7 | — | — | — | 7 | 25 | — | — | — | 25 | ||||||||||||||||||||||||||||||||||||||||||
Total mortgage-backed securities | Total mortgage-backed securities | $ | 36,523 | $ | 744 | $ | 201 | $ | — | $ | 37,066 | $ | 43,453 | $ | 1,138 | $ | 52 | $ | — | $ | 44,539 | Total mortgage-backed securities | $ | 13,270 | $ | 25 | $ | 495 | $ | — | $ | 12,800 | $ | 33,469 | $ | 454 | $ | 302 | $ | — | $ | 33,621 | ||||||||||||||||||||||
U.S. Treasury and federal agency securities | U.S. Treasury and federal agency securities | U.S. Treasury and federal agency securities | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
U.S. Treasury | U.S. Treasury | $ | 122,491 | $ | 1,119 | $ | 436 | $ | — | $ | 123,174 | $ | 144,094 | $ | 2,108 | $ | 49 | $ | — | $ | 146,153 | U.S. Treasury | $ | 94,740 | $ | 42 | $ | 2,918 | $ | — | $ | 91,864 | $ | 122,669 | $ | 615 | $ | 844 | $ | — | $ | 122,440 | ||||||||||||||||||||||
Agency obligations | Agency obligations | — | — | — | — | — | 50 | 1 | — | — | 51 | Agency obligations | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||
Total U.S. Treasury and federal agency securities | Total U.S. Treasury and federal agency securities | $ | 122,491 | $ | 1,119 | $ | 436 | $ | — | $ | 123,174 | $ | 144,144 | $ | 2,109 | $ | 49 | $ | — | $ | 146,204 | Total U.S. Treasury and federal agency securities | $ | 94,740 | $ | 42 | $ | 2,918 | $ | — | $ | 91,864 | $ | 122,669 | $ | 615 | $ | 844 | $ | — | $ | 122,440 | ||||||||||||||||||||||
State and municipal | State and municipal | $ | 2,710 | $ | 85 | $ | 111 | $ | — | $ | 2,684 | $ | 3,753 | $ | 123 | $ | 157 | $ | — | $ | 3,719 | State and municipal | $ | 2,677 | $ | 16 | $ | 201 | $ | — | $ | 2,492 | $ | 2,643 | $ | 79 | $ | 101 | $ | — | $ | 2,621 | ||||||||||||||||||||||
Foreign government | Foreign government | 120,322 | 496 | 624 | — | 120,194 | 123,467 | 1,623 | 122 | — | 124,968 | Foreign government | 122,184 | 424 | 2,922 | — | 119,686 | 119,426 | 337 | 1,023 | — | 118,740 | ||||||||||||||||||||||||||||||||||||||||||
Corporate | Corporate | 6,929 | 70 | 65 | 8 | 6,926 | 10,444 | 152 | 91 | 5 | 10,500 | Corporate | 6,646 | 19 | 214 | 6 | 6,445 | 5,972 | 33 | 77 | 8 | 5,920 | ||||||||||||||||||||||||||||||||||||||||||
Asset-backed securities(1) | Asset-backed securities(1) | 263 | 1 | — | — | 264 | 277 | 5 | 4 | — | 278 | Asset-backed securities(1) | 275 | 2 | 1 | — | 276 | 304 | — | 1 | — | 303 | ||||||||||||||||||||||||||||||||||||||||||
Other debt securities | Other debt securities | 5,265 | 1 | 1 | — | 5,265 | 4,871 | 5 | — | — | 4,876 | Other debt securities | 4,948 | — | 12 | — | 4,936 | 4,880 | 1 | 4 | — | 4,877 | ||||||||||||||||||||||||||||||||||||||||||
Total debt securities AFS | Total debt securities AFS | $ | 294,503 | $ | 2,516 | $ | 1,438 | $ | 8 | $ | 295,573 | $ | 330,409 | $ | 5,155 | $ | 475 | $ | 5 | $ | 335,084 | Total debt securities AFS | $ | 244,740 | $ | 528 | $ | 6,763 | $ | 6 | $ | 238,499 | $ | 289,363 | $ | 1,519 | $ | 2,352 | $ | 8 | $ | 288,522 |
Less than 12 months | 12 months or longer | Total | Less than 12 months | 12 months or longer | Total | |||||||||||||||||||||||||||||||||||
In millions of dollars | In millions of dollars | Fair value | Gross unrealized losses | Fair value | Gross unrealized losses | Fair value | Gross unrealized losses | In millions of dollars | Fair value | Gross unrealized losses | Fair value | Gross unrealized losses | Fair value | Gross unrealized losses | ||||||||||||||||||||||||||
September 30, 2021 | ||||||||||||||||||||||||||||||||||||||||
June 30, 2022 | June 30, 2022 | |||||||||||||||||||||||||||||||||||||||
Debt securities AFS | Debt securities AFS | Debt securities AFS | ||||||||||||||||||||||||||||||||||||||
Mortgage-backed securities | Mortgage-backed securities | Mortgage-backed securities | ||||||||||||||||||||||||||||||||||||||
U.S. government-sponsored agency guaranteed | U.S. government-sponsored agency guaranteed | $ | 10,965 | $ | 182 | $ | 197 | $ | 19 | $ | 11,162 | $ | 201 | U.S. government-sponsored agency guaranteed | $ | 10,219 | $ | 387 | $ | 1,048 | $ | 105 | $ | 11,267 | $ | 492 | ||||||||||||||
Non-U.S. residential | Non-U.S. residential | 58 | — | — | — | 58 | — | Non-U.S. residential | 197 | 3 | — | — | 197 | 3 | ||||||||||||||||||||||||||
Commercial | Commercial | 2 | — | — | — | 2 | — | Commercial | 6 | — | 1 | — | 7 | — | ||||||||||||||||||||||||||
Total mortgage-backed securities | Total mortgage-backed securities | $ | 11,025 | $ | 182 | $ | 197 | $ | 19 | $ | 11,222 | $ | 201 | Total mortgage-backed securities | $ | 10,422 | $ | 390 | $ | 1,049 | $ | 105 | $ | 11,471 | $ | 495 | ||||||||||||||
U.S. Treasury | U.S. Treasury | $ | 38,146 | $ | 122 | $ | 19,579 | $ | 314 | $ | 57,725 | $ | 436 | U.S. Treasury | $ | 53,236 | $ | 1,322 | $ | 29,263 | $ | 1,596 | $ | 82,499 | $ | 2,918 | ||||||||||||||
State and municipal | State and municipal | 198 | 5 | 1,182 | 106 | 1,380 | 111 | State and municipal | 842 | 53 | 1,037 | 148 | 1,879 | 201 | ||||||||||||||||||||||||||
Foreign government | Foreign government | 54,437 | 494 | 9,452 | 130 | 63,889 | 624 | Foreign government | 85,907 | 2,407 | 10,757 | 515 | 96,664 | 2,922 | ||||||||||||||||||||||||||
Corporate | Corporate | 1,994 | 65 | 21 | — | 2,015 | 65 | Corporate | 4,601 | 196 | 254 | 18 | 4,855 | 214 | ||||||||||||||||||||||||||
Asset-backed securities | Asset-backed securities | 3 | — | — | — | 3 | — | Asset-backed securities | 174 | 1 | — | — | 174 | 1 | ||||||||||||||||||||||||||
Other debt securities | Other debt securities | 2,787 | 1 | — | — | 2,787 | 1 | Other debt securities | 3,475 | 12 | — | — | 3,475 | 12 | ||||||||||||||||||||||||||
Total debt securities AFS | Total debt securities AFS | $ | 108,590 | $ | 869 | $ | 30,431 | $ | 569 | $ | 139,021 | $ | 1,438 | Total debt securities AFS | $ | 158,657 | $ | 4,381 | $ | 42,360 | $ | 2,382 | $ | 201,017 | $ | 6,763 | ||||||||||||||
December 31, 2020 | ||||||||||||||||||||||||||||||||||||||||
December 31, 2021 | December 31, 2021 | |||||||||||||||||||||||||||||||||||||||
Debt securities AFS | Debt securities AFS | Debt securities AFS | ||||||||||||||||||||||||||||||||||||||
Mortgage-backed securities | Mortgage-backed securities | Mortgage-backed securities | ||||||||||||||||||||||||||||||||||||||
U.S. government-sponsored agency guaranteed | U.S. government-sponsored agency guaranteed | $ | 3,588 | $ | 30 | $ | 298 | $ | 22 | $ | 3,886 | $ | 52 | U.S. government-sponsored agency guaranteed | $ | 17,039 | $ | 270 | $ | 698 | $ | 31 | $ | 17,737 | $ | 301 | ||||||||||||||
Non-U.S. residential | Non-U.S. residential | 1 | — | — | — | 1 | — | Non-U.S. residential | 96 | 1 | 1 | — | 97 | 1 | ||||||||||||||||||||||||||
Commercial | Commercial | 7 | — | 4 | — | 11 | — | Commercial | — | — | — | — | — | — | ||||||||||||||||||||||||||
Total mortgage-backed securities | Total mortgage-backed securities | $ | 3,596 | $ | 30 | $ | 302 | $ | 22 | $ | 3,898 | $ | 52 | Total mortgage-backed securities | $ | 17,135 | $ | 271 | $ | 699 | $ | 31 | $ | 17,834 | $ | 302 | ||||||||||||||
U.S. Treasury and federal agency securities | U.S. Treasury and federal agency securities | U.S. Treasury and federal agency securities | ||||||||||||||||||||||||||||||||||||||
U.S. Treasury | U.S. Treasury | $ | 25,031 | $ | 49 | $ | — | $ | — | $ | 25,031 | $ | 49 | U.S. Treasury | $ | 56,448 | $ | 713 | $ | 6,310 | $ | 131 | $ | 62,758 | $ | 844 | ||||||||||||||
Agency obligations | Agency obligations | 50 | — | — | — | 50 | — | Agency obligations | — | — | — | — | — | — | ||||||||||||||||||||||||||
Total U.S. Treasury and federal agency securities | Total U.S. Treasury and federal agency securities | $ | 25,081 | $ | 49 | $ | — | $ | — | $ | 25,081 | $ | 49 | Total U.S. Treasury and federal agency securities | $ | 56,448 | $ | 713 | $ | 6,310 | $ | 131 | $ | 62,758 | $ | 844 | ||||||||||||||
State and municipal | State and municipal | $ | 836 | $ | 34 | $ | 893 | $ | 123 | $ | 1,729 | $ | 157 | State and municipal | $ | 229 | $ | 3 | $ | 874 | $ | 98 | $ | 1,103 | $ | 101 | ||||||||||||||
Foreign government | Foreign government | 29,344 | 61 | 3,502 | 61 | 32,846 | 122 | Foreign government | 64,319 | 826 | 9,924 | 197 | 74,243 | 1,023 | ||||||||||||||||||||||||||
Corporate | Corporate | 1,083 | 90 | 24 | 1 | 1,107 | 91 | Corporate | 2,655 | 77 | 22 | — | 2,677 | 77 | ||||||||||||||||||||||||||
Asset-backed securities | Asset-backed securities | 194 | 3 | 39 | 1 | 233 | 4 | Asset-backed securities | 108 | 1 | — | — | 108 | 1 | ||||||||||||||||||||||||||
Other debt securities | Other debt securities | 182 | — | — | — | 182 | — | Other debt securities | 3,439 | 4 | — | — | 3,439 | 4 | ||||||||||||||||||||||||||
Total debt securities AFS | Total debt securities AFS | $ | 60,316 | $ | 267 | $ | 4,760 | $ | 208 | $ | 65,076 | $ | 475 | Total debt securities AFS | $ | 144,333 | $ | 1,895 | $ | 17,829 | $ | 457 | $ | 162,162 | $ | 2,352 |
September 30, 2021 | December 31, 2020 | June 30, 2022 | December 31, 2021 | |||||||||||||||||||||||||
In millions of dollars | In millions of dollars | Amortized cost | Fair value | Amortized cost | Fair value | In millions of dollars | Amortized cost | Fair value | Amortized cost | Fair value | ||||||||||||||||||
Mortgage-backed securities(1) | Mortgage-backed securities(1) | Mortgage-backed securities(1) | ||||||||||||||||||||||||||
Due within 1 year | Due within 1 year | $ | 200 | $ | 200 | $ | 27 | $ | 27 | Due within 1 year | $ | 92 | $ | 92 | $ | 188 | $ | 189 | ||||||||||
After 1 but within 5 years | After 1 but within 5 years | 187 | 188 | 567 | 571 | After 1 but within 5 years | 250 | 245 | 211 | 211 | ||||||||||||||||||
After 5 but within 10 years | After 5 but within 10 years | 726 | 776 | 688 | 757 | After 5 but within 10 years | 418 | 402 | 523 | 559 | ||||||||||||||||||
After 10 years(2) | 35,410 | 35,902 | 42,171 | 43,184 | ||||||||||||||||||||||||
After 10 years | After 10 years | 12,510 | 12,061 | 32,547 | 32,662 | |||||||||||||||||||||||
Total | Total | $ | 36,523 | $ | 37,066 | $ | 43,453 | $ | 44,539 | Total | $ | 13,270 | $ | 12,800 | $ | 33,469 | $ | 33,621 | ||||||||||
U.S. Treasury and federal agency securities | U.S. Treasury and federal agency securities | U.S. Treasury and federal agency securities | ||||||||||||||||||||||||||
Due within 1 year | Due within 1 year | $ | 27,539 | $ | 27,614 | $ | 34,834 | $ | 34,951 | Due within 1 year | $ | 14,951 | $ | 14,893 | $ | 34,321 | $ | 34,448 | ||||||||||
After 1 but within 5 years | After 1 but within 5 years | 94,520 | 95,132 | 108,160 | 110,091 | After 1 but within 5 years | 79,446 | 76,660 | 87,987 | 87,633 | ||||||||||||||||||
After 5 but within 10 years | After 5 but within 10 years | 432 | 428 | 1,150 | 1,162 | After 5 but within 10 years | 343 | 311 | 361 | 359 | ||||||||||||||||||
After 10 years(2) | — | — | — | — | ||||||||||||||||||||||||
After 10 years | After 10 years | — | — | — | — | |||||||||||||||||||||||
Total | Total | $ | 122,491 | $ | 123,174 | $ | 144,144 | $ | 146,204 | Total | $ | 94,740 | $ | 91,864 | $ | 122,669 | $ | 122,440 | ||||||||||
State and municipal | State and municipal | State and municipal | ||||||||||||||||||||||||||
Due within 1 year | Due within 1 year | $ | 45 | $ | 45 | $ | 427 | $ | 428 | Due within 1 year | $ | 25 | $ | 26 | $ | 40 | $ | 40 | ||||||||||
After 1 but within 5 years | After 1 but within 5 years | 137 | 140 | 189 | 198 | After 1 but within 5 years | 103 | 103 | 121 | 124 | ||||||||||||||||||
After 5 but within 10 years | After 5 but within 10 years | 160 | 168 | 276 | 267 | After 5 but within 10 years | 233 | 221 | 156 | 161 | ||||||||||||||||||
After 10 years(2) | 2,368 | 2,331 | 2,861 | 2,826 | ||||||||||||||||||||||||
After 10 years | After 10 years | 2,316 | 2,142 | 2,326 | 2,296 | |||||||||||||||||||||||
Total | Total | $ | 2,710 | $ | 2,684 | $ | 3,753 | $ | 3,719 | Total | $ | 2,677 | $ | 2,492 | $ | 2,643 | $ | 2,621 | ||||||||||
Foreign government | Foreign government | Foreign government | ||||||||||||||||||||||||||
Due within 1 year | Due within 1 year | $ | 47,441 | $ | 47,492 | $ | 48,133 | $ | 48,258 | Due within 1 year | $ | 58,444 | $ | 58,203 | $ | 49,263 | $ | 49,223 | ||||||||||
After 1 but within 5 years | After 1 but within 5 years | 65,523 | 65,370 | 67,365 | 68,586 | After 1 but within 5 years | 59,663 | 57,644 | 64,555 | 63,961 | ||||||||||||||||||
After 5 but within 10 years | After 5 but within 10 years | 5,560 | 5,514 | 5,908 | 6,011 | After 5 but within 10 years | 2,555 | 2,324 | 3,736 | 3,656 | ||||||||||||||||||
After 10 years(2) | 1,798 | 1,818 | 2,061 | 2,113 | ||||||||||||||||||||||||
After 10 years | After 10 years | 1,522 | 1,515 | 1,872 | 1,900 | |||||||||||||||||||||||
Total | Total | $ | 120,322 | $ | 120,194 | $ | 123,467 | $ | 124,968 | Total | $ | 122,184 | $ | 119,686 | $ | 119,426 | $ | 118,740 | ||||||||||
All other | All other | All other | ||||||||||||||||||||||||||
Due within 1 year | Due within 1 year | $ | 6,108 | $ | 6,112 | $ | 6,661 | $ | 6,665 | Due within 1 year | $ | 5,902 | $ | 5,882 | $ | 5,175 | $ | 5,180 | ||||||||||
After 1 but within 5 years | After 1 but within 5 years | 5,434 | 5,464 | 7,814 | 7,891 | After 1 but within 5 years | 5,096 | 4,965 | 5,177 | 5,149 | ||||||||||||||||||
After 5 but within 10 years | After 5 but within 10 years | 853 | 846 | 1,018 | 1,034 | After 5 but within 10 years | 812 | 806 | 750 | 750 | ||||||||||||||||||
After 10 years(2) | 62 | 33 | 99 | 64 | ||||||||||||||||||||||||
After 10 years | After 10 years | 59 | 4 | 54 | 21 | |||||||||||||||||||||||
Total | Total | $ | 12,457 | $ | 12,455 | $ | 15,592 | $ | 15,654 | Total | $ | 11,869 | $ | 11,657 | $ | 11,156 | $ | 11,100 | ||||||||||
Total debt securities AFS | Total debt securities AFS | $ | 294,503 | $ | 295,573 | $ | 330,409 | $ | 335,084 | Total debt securities AFS | $ | 244,740 | $ | 238,499 | $ | 289,363 | $ | 288,522 |
In millions of dollars | In millions of dollars | Amortized cost, net(1) | Gross unrealized gains | Gross unrealized losses | Fair value | In millions of dollars | Amortized cost, net(1) | Gross unrealized gains | Gross unrealized losses | Fair value | ||||||||||||||||||||||||||||||
September 30, 2021 | ||||||||||||||||||||||||||||||||||||||||
June 30, 2022 | June 30, 2022 | |||||||||||||||||||||||||||||||||||||||
Debt securities HTM | Debt securities HTM | Debt securities HTM | ||||||||||||||||||||||||||||||||||||||
Mortgage-backed securities(2) | Mortgage-backed securities(2) | Mortgage-backed securities(2) | ||||||||||||||||||||||||||||||||||||||
U.S. government-sponsored agency guaranteed | $ | 67,517 | $ | 1,490 | $ | 533 | $ | 68,474 | ||||||||||||||||||||||||||||||||
U.S. government-sponsored agency guaranteed(3) | U.S. government-sponsored agency guaranteed(3) | $ | 88,744 | $ | 446 | $ | 6,611 | $ | 82,579 | |||||||||||||||||||||||||||||||
Non-U.S. residential | Non-U.S. residential | 739 | 1 | — | 740 | Non-U.S. residential | 541 | — | — | 541 | ||||||||||||||||||||||||||||||
Commercial | Commercial | 957 | 3 | 2 | 958 | Commercial | 1,157 | 5 | 1 | 1,161 | ||||||||||||||||||||||||||||||
Total mortgage-backed securities | Total mortgage-backed securities | $ | 69,213 | $ | 1,494 | $ | 535 | $ | 70,172 | Total mortgage-backed securities | $ | 90,442 | $ | 451 | $ | 6,612 | $ | 84,281 | ||||||||||||||||||||||
U.S. Treasury securities | U.S. Treasury securities | $ | 88,270 | $ | 26 | $ | 850 | $ | 87,446 | U.S. Treasury securities | $ | 134,978 | $ | — | $ | 10,152 | $ | 124,826 | ||||||||||||||||||||||
State and municipal | State and municipal | 8,952 | 575 | 18 | 9,509 | State and municipal | 9,076 | 60 | 594 | 8,542 | ||||||||||||||||||||||||||||||
Foreign government | Foreign government | 1,694 | 10 | 16 | 1,688 | Foreign government | 2,016 | — | 90 | 1,926 | ||||||||||||||||||||||||||||||
Asset-backed securities(2) | Asset-backed securities(2) | 29,927 | 9 | 27 | 29,909 | Asset-backed securities(2) | 31,080 | 4 | 855 | 30,229 | ||||||||||||||||||||||||||||||
Total debt securities HTM, net | Total debt securities HTM, net | $ | 198,056 | $ | 2,114 | $ | 1,446 | $ | 198,724 | Total debt securities HTM, net | $ | 267,592 | $ | 515 | $ | 18,303 | $ | 249,804 | ||||||||||||||||||||||
December 31, 2020 | ||||||||||||||||||||||||||||||||||||||||
December 31, 2021 | December 31, 2021 | |||||||||||||||||||||||||||||||||||||||
Debt securities HTM | Debt securities HTM | Debt securities HTM | ||||||||||||||||||||||||||||||||||||||
Mortgage-backed securities(2) | Mortgage-backed securities(2) | Mortgage-backed securities(2) | ||||||||||||||||||||||||||||||||||||||
U.S. government-sponsored agency guaranteed | U.S. government-sponsored agency guaranteed | $ | 49,004 | $ | 2,162 | $ | 15 | $ | 51,151 | U.S. government-sponsored agency guaranteed | $ | 63,885 | $ | 1,076 | $ | 925 | $ | 64,036 | ||||||||||||||||||||||
Non-U.S. residential | Non-U.S. residential | 1,124 | 3 | 1 | 1,126 | Non-U.S. residential | 736 | 3 | — | 739 | ||||||||||||||||||||||||||||||
Commercial | Commercial | 825 | 1 | 1 | 825 | Commercial | 1,070 | 4 | 2 | 1,072 | ||||||||||||||||||||||||||||||
Total mortgage-backed securities | Total mortgage-backed securities | $ | 50,953 | $ | 2,166 | $ | 17 | $ | 53,102 | Total mortgage-backed securities | $ | 65,691 | $ | 1,083 | $ | 927 | $ | 65,847 | ||||||||||||||||||||||
U.S. Treasury securities(4) | $ | 21,293 | $ | 4 | $ | 55 | $ | 21,242 | ||||||||||||||||||||||||||||||||
U.S. Treasury securities | U.S. Treasury securities | $ | 111,819 | $ | 30 | $ | 1,632 | $ | 110,217 | |||||||||||||||||||||||||||||||
State and municipal | State and municipal | 9,185 | 755 | 11 | 9,929 | State and municipal | 8,923 | 589 | 12 | 9,500 | ||||||||||||||||||||||||||||||
Foreign government | Foreign government | 1,931 | 91 | — | 2,022 | Foreign government | 1,651 | 4 | 36 | 1,619 | ||||||||||||||||||||||||||||||
Asset-backed securities(2) | Asset-backed securities(2) | 21,581 | 6 | 92 | 21,495 | Asset-backed securities(2) | 28,879 | 8 | 32 | 28,855 | ||||||||||||||||||||||||||||||
Total debt securities HTM, net | Total debt securities HTM, net | $ | 104,943 | $ | 3,022 | $ | 175 | $ | 107,790 | Total debt securities HTM, net | $ | 216,963 | $ | 1,714 | $ | 2,639 | $ | 216,038 |
September 30, 2021 | December 31, 2020 | |||||||||||||
In millions of dollars | Amortized cost(1) | Fair value | Amortized cost(1) | Fair value | ||||||||||
Mortgage-backed securities | ||||||||||||||
Due within 1 year | $ | 160 | $ | 160 | $ | 81 | $ | 81 | ||||||
After 1 but within 5 years | 737 | 792 | 463 | 477 | ||||||||||
After 5 but within 10 years | 1,637 | 1,736 | 1,699 | 1,873 | ||||||||||
After 10 years(2) | 66,679 | 67,484 | 48,710 | 50,671 | ||||||||||
Total | $ | 69,213 | $ | 70,172 | $ | 50,953 | $ | 53,102 | ||||||
U.S. Treasury securities | ||||||||||||||
Due within 1 year | $ | — | $ | — | $ | — | $ | — | ||||||
After 1 but within 5 years | 42,783 | 42,287 | 18,955 | 19,127 | ||||||||||
After 5 but within 10 years | 45,487 | 45,159 | 2,338 | 2,115 | ||||||||||
After 10 years(2) | — | — | — | — | ||||||||||
Total | $ | 88,270 | $ | 87,446 | $ | 21,293 | $ | 21,242 | ||||||
State and municipal | ||||||||||||||
Due within 1 year | $ | 54 | $ | 54 | $ | 6 | $ | 6 | ||||||
After 1 but within 5 years | 168 | 172 | 139 | 142 | ||||||||||
After 5 but within 10 years | 838 | 881 | 818 | 869 | ||||||||||
After 10 years(2) | 7,892 | 8,402 | 8,222 | 8,912 | ||||||||||
Total | $ | 8,952 | $ | 9,509 | $ | 9,185 | $ | 9,929 | ||||||
Foreign government | ||||||||||||||
Due within 1 year | $ | 334 | $ | 335 | $ | 361 | $ | 360 | ||||||
After 1 but within 5 years | 1,360 | 1,353 | 1,570 | 1,662 | ||||||||||
After 5 but within 10 years | — | — | — | — | ||||||||||
After 10 years(2) | — | — | — | — | ||||||||||
Total | $ | 1,694 | $ | 1,688 | $ | 1,931 | $ | 2,022 | ||||||
All other(3) | ||||||||||||||
Due within 1 year | $ | — | $ | — | $ | — | $ | — | ||||||
After 1 but within 5 years | — | — | — | — | ||||||||||
After 5 but within 10 years | 11,299 | 11,297 | 11,795 | 15,020 | ||||||||||
After 10 years(2) | 18,628 | 18,612 | 9,786 | 6,475 | ||||||||||
Total | $ | 29,927 | $ | 29,909 | $ | 21,581 | $ | 21,495 | ||||||
Total debt securities HTM | $ | 198,056 | $ | 198,724 | $ | 104,943 | $ | 107,790 |
June 30, 2022 | December 31, 2021 | |||||||||||||||||||
In millions of dollars | Amortized cost(1) | Fair value | Amortized cost(1) | Fair value | ||||||||||||||||
Mortgage-backed securities | ||||||||||||||||||||
Due within 1 year | $ | 15 | $ | 15 | $ | 152 | $ | 151 | ||||||||||||
After 1 but within 5 years | 722 | 722 | 684 | 725 | ||||||||||||||||
After 5 but within 10 years | 1,563 | 1,504 | 1,655 | 1,739 | ||||||||||||||||
After 10 years | 88,142 | 82,040 | 63,200 | 63,232 | ||||||||||||||||
Total | $ | 90,442 | $ | 84,281 | $ | 65,691 | $ | 65,847 | ||||||||||||
U.S. Treasury securities | ||||||||||||||||||||
Due within 1 year | $ | — | $ | — | $ | — | $ | — | ||||||||||||
After 1 but within 5 years | 89,460 | 83,848 | 65,498 | 64,516 | ||||||||||||||||
After 5 but within 10 years | 45,518 | 40,978 | 46,321 | 45,701 | ||||||||||||||||
After 10 years | — | — | — | — | ||||||||||||||||
Total | $ | 134,978 | $ | 124,826 | $ | 111,819 | $ | 110,217 | ||||||||||||
State and municipal | ||||||||||||||||||||
Due within 1 year | $ | 54 | $ | 54 | $ | 51 | $ | 50 | ||||||||||||
After 1 but within 5 years | 159 | 160 | 166 | 170 | ||||||||||||||||
After 5 but within 10 years | 919 | 902 | 908 | 951 | ||||||||||||||||
After 10 years | 7,944 | 7,426 | 7,798 | 8,329 | ||||||||||||||||
Total | $ | 9,076 | $ | 8,542 | $ | 8,923 | $ | 9,500 | ||||||||||||
Foreign government | ||||||||||||||||||||
Due within 1 year | $ | — | $ | — | $ | 292 | $ | 291 | ||||||||||||
After 1 but within 5 years | 2,016 | 1,926 | 1,359 | 1,328 | ||||||||||||||||
After 5 but within 10 years | — | — | — | — | ||||||||||||||||
After 10 years | — | — | — | — | ||||||||||||||||
Total | $ | 2,016 | $ | 1,926 | $ | 1,651 | $ | 1,619 | ||||||||||||
All other(2) | ||||||||||||||||||||
Due within 1 year | $ | — | $ | — | $ | — | $ | — | ||||||||||||
After 1 but within 5 years | — | — | — | — | ||||||||||||||||
After 5 but within 10 years | 11,926 | 11,720 | 11,520 | 11,515 | ||||||||||||||||
After 10 years | 19,154 | 18,509 | 17,359 | 17,340 | ||||||||||||||||
Total | $ | 31,080 | $ | 30,229 | $ | 28,879 | $ | 28,855 | ||||||||||||
Total debt securities HTM | $ | 267,592 | $ | 249,804 | $ | 216,963 | $ | 216,038 |
Three Months Ended September 30, 2021 | Three Months Ended September 30, 2020 | ||||||||||||||||||||||
In millions of dollars | AFS | Other assets | Total | AFS | Other assets | Total | |||||||||||||||||
Impairment losses related to debt securities that the Company does not intend to sell nor will likely be required to sell: | |||||||||||||||||||||||
Total impairment losses recognized during the period | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||
Less: portion of impairment loss recognized in AOCI (before taxes) | — | — | — | — | — | — | |||||||||||||||||
Net impairment losses recognized in earnings for debt securities that the Company does not intend to sell nor will likely be required to sell | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||
Impairment losses recognized in earnings for debt securities that the Company intends to sell, would more-likely-than-not be required to sell or will be subject to an issuer call deemed probable of exercise | 21 | — | 21 | 30 | — | 30 | |||||||||||||||||
Total impairment losses recognized in earnings | $ | 21 | $ | — | $ | 21 | $ | 30 | $ | — | $ | 30 | |||||||||||
Nine Months Ended September 30, 2021 | Nine Months Ended September 30, 2020 | ||||||||||||||||||||||
In millions of dollars | AFS | Other assets | Total | AFS | Other assets | Total | |||||||||||||||||
Impairment losses related to debt securities that the Company does not intend to sell nor will likely be required to sell: | |||||||||||||||||||||||
Total impairment losses recognized during the period | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||
Less: portion of impairment loss recognized in AOCI (before taxes) | — | — | — | — | — | — | |||||||||||||||||
Net impairment losses recognized in earnings for debt securities that the Company does not intend to sell nor will likely be required to sell | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||
Impairment losses recognized in earnings for debt securities that the Company intends to sell, would more-likely-than-not be required to sell or will be subject to an issuer call deemed probable of exercise | 99 | — | 99 | 101 | — | 101 | |||||||||||||||||
Total impairment losses recognized in earnings | $ | 99 | $ | — | $ | 99 | $ | 101 | $ | — | $ | 101 |
Three Months Ended June 30, 2022 | Three Months Ended June 30, 2021 | ||||||||||||||||||||||
In millions of dollars | AFS | Other assets | Total | AFS | Other assets | Total | |||||||||||||||||
Impairment losses related to debt securities that the Company does not intend to sell nor will likely be required to sell: | |||||||||||||||||||||||
Total impairment losses recognized during the period | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||
Less: portion of impairment loss recognized in AOCI (before taxes) | — | — | — | — | — | — | |||||||||||||||||
Net impairment losses recognized in earnings for debt securities that the Company does not intend to sell nor will likely be required to sell | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||
Impairment losses recognized in earnings for debt securities that the Company intends to sell, would more-likely-than-not be required to sell or will be subject to an issuer call deemed probable of exercise | 90 | — | 90 | 9 | — | 9 | |||||||||||||||||
Total impairment losses recognized in earnings | $ | 90 | $ | — | $ | 90 | $ | 9 | $ | — | $ | 9 | |||||||||||
Six Months Ended June 30, 2022 | Six Months Ended June 30, 2021 | ||||||||||||||||||||||
In millions of dollars | AFS | Other assets | Total | AFS | Other assets | Total | |||||||||||||||||
Impairment losses related to debt securities that the Company does not intend to sell nor will likely be required to sell: | |||||||||||||||||||||||
Total impairment losses recognized during the period | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||
Less: portion of impairment loss recognized in AOCI (before taxes) | — | — | — | — | — | — | |||||||||||||||||
Net impairment losses recognized in earnings for debt securities that the Company does not intend to sell nor will likely be required to sell | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||
Impairment losses recognized in earnings for debt securities that the Company intends to sell, would more-likely-than-not be required to sell or will be subject to an issuer call deemed probable of exercise | 180 | — | 180 | 78 | — | 78 | |||||||||||||||||
Total impairment losses recognized in earnings | $ | 180 | $ | — | $ | 180 | $ | 78 | $ | — | $ | 78 |
Three Months Ended September 30, 2021 | ||||||||||||||||||||||||||
In millions of dollars | Mortgage-backed | U.S. Treasury and federal agency | State and municipal | Foreign government | Corporate | Total AFS | ||||||||||||||||||||
Allowance for credit losses at beginning of period | $ | — | $ | — | $ | — | $ | — | $ | 5 | $ | 5 | ||||||||||||||
Less: Write-offs | — | — | — | — | — | — | ||||||||||||||||||||
Recoveries of amounts written-off | — | — | — | — | — | — | ||||||||||||||||||||
Net credit losses (NCLs) | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||
NCLs | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||
Credit losses on securities without previous credit losses | — | — | — | — | 1 | 1 | ||||||||||||||||||||
Net reserve builds (releases) on securities with previous credit losses | — | — | — | — | — | — | ||||||||||||||||||||
Total provision for credit losses | $ | — | $ | — | $ | — | $ | — | $ | 1 | $ | 1 | ||||||||||||||
Initial allowance on newly purchased credit-deteriorated securities during the period | — | — | — | — | — | — | ||||||||||||||||||||
Allowance for credit losses at end of period | $ | — | $ | — | $ | — | $ | — | $ | 6 | $ | 6 | ||||||||||||||
Three Months Ended June 30, 2022 | |||||||||||||||||||||||||||||||||||||||||
In millions of dollars | Corporate | Total AFS | |||||||||||||||||||||||||||||||||||||||
Allowance for credit losses at beginning of period | $ | 8 | $ | 8 | |||||||||||||||||||||||||||||||||||||
Gross write-offs | — | — | |||||||||||||||||||||||||||||||||||||||
Gross recoveries | — | — | |||||||||||||||||||||||||||||||||||||||
Net credit losses (NCLs) | $ | — | $ | — | |||||||||||||||||||||||||||||||||||||
NCLs | $ | — | $ | — | |||||||||||||||||||||||||||||||||||||
Credit losses on securities without previous credit losses | — | — | |||||||||||||||||||||||||||||||||||||||
Net reserve builds (releases) on securities with previous credit losses | (2) | (2) | |||||||||||||||||||||||||||||||||||||||
Total provision for credit losses | $ | (2) | $ | (2) | |||||||||||||||||||||||||||||||||||||
Initial allowance on newly purchased credit-deteriorated securities during the period | — | — | |||||||||||||||||||||||||||||||||||||||
Allowance for credit losses at end of period | $ | 6 | $ | 6 | |||||||||||||||||||||||||||||||||||||
Six Months Ended June 30, 2022 | |||||||||||||||||||||||||||||||||||||||||
In millions of dollars | Corporate | Total AFS | |||||||||||||||||||||||||||||||||||||||
Allowance for credit losses at beginning of period | $ | 8 | $ | 8 | |||||||||||||||||||||||||||||||||||||
Gross write-offs | — | — | |||||||||||||||||||||||||||||||||||||||
Gross recoveries | — | — | |||||||||||||||||||||||||||||||||||||||
Net credit losses (NCLs) | $ | — | $ | — | |||||||||||||||||||||||||||||||||||||
NCLs | $ | — | $ | — | |||||||||||||||||||||||||||||||||||||
Credit losses on securities without previous credit losses | — | — | |||||||||||||||||||||||||||||||||||||||
Net reserve builds (releases) on securities with previous credit losses | (2) | (2) | |||||||||||||||||||||||||||||||||||||||
Total provision for credit losses | $ | (2) | $ | (2) | |||||||||||||||||||||||||||||||||||||
Initial allowance on newly purchased credit-deteriorated securities during the period | — | — | |||||||||||||||||||||||||||||||||||||||
Allowance for credit losses at end of period | $ | 6 | $ | 6 | |||||||||||||||||||||||||||||||||||||
Nine Months Ended September 30, 2021 | ||||||||||||||||||||||||||
In millions of dollars | Mortgage-backed | U.S. Treasury and federal agency | State and municipal | Foreign government | Corporate | Total AFS | ||||||||||||||||||||
Allowance for credit losses at beginning of period | $ | — | $ | — | $ | — | $ | — | $ | 5 | $ | 5 | ||||||||||||||
Less: Write-offs | — | — | — | — | — | — | ||||||||||||||||||||
Recoveries of amounts written-off | — | — | — | — | — | — | ||||||||||||||||||||
Net credit losses (NCLs) | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||
NCLs | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||
Credit losses on securities without previous credit losses | — | — | — | — | 1 | 1 | ||||||||||||||||||||
Net reserve builds (releases) on securities with previous credit losses | — | — | — | — | — | — | ||||||||||||||||||||
Total provision for credit losses | $ | — | $ | — | $ | — | $ | — | $ | 1 | $ | 1 | ||||||||||||||
Initial allowance on newly purchased credit-deteriorated securities during the period | — | — | — | — | — | — | ||||||||||||||||||||
Allowance for credit losses at end of period | $ | — | $ | — | $ | — | $ | — | $ | 6 | $ | 6 | ||||||||||||||
Three Months Ended June 30, 2021 | ||||||||||||||||||||
In millions of dollars | Corporate | Total AFS | ||||||||||||||||||
Allowance for credit losses at beginning of period | $ | 5 | $ | 5 | ||||||||||||||||
Gross write-offs | — | — | ||||||||||||||||||
Gross recoveries | — | — | ||||||||||||||||||
Net credit losses (NCLs) | $ | — | $ | — | ||||||||||||||||
NCLs | $ | — | $ | — | ||||||||||||||||
Credit losses on securities without previous credit losses | — | — | ||||||||||||||||||
Net reserve builds (releases) on securities with previous credit losses | — | — | ||||||||||||||||||
Total provision for credit losses | $ | — | $ | — | ||||||||||||||||
Initial allowance on newly purchased credit-deteriorated securities during the period | — | — | ||||||||||||||||||
Allowance for credit losses at end of period | $ | 5 | $ | 5 | ||||||||||||||||
Six Months Ended June 30, 2021 | ||||||||||||||||||||
In millions of dollars | Corporate | Total AFS | ||||||||||||||||||
Allowance for credit losses at beginning of period | $ | 5 | $ | 5 | ||||||||||||||||
Gross write-offs | — | — | ||||||||||||||||||
Gross recoveries | — | — | ||||||||||||||||||
Net credit losses (NCLs) | $ | — | $ | — | ||||||||||||||||
NCLs | $ | — | $ | — | ||||||||||||||||
Credit losses on securities without previous credit losses | — | — | ||||||||||||||||||
Net reserve builds (releases) on securities with previous credit losses | — | — | ||||||||||||||||||
Total provision for credit losses | $ | — | $ | — | ||||||||||||||||
Initial allowance on newly purchased credit-deteriorated securities during the period | — | — | ||||||||||||||||||
Allowance for credit losses at end of period | $ | 5 | $ | 5 |
Three Months Ended September 30, 2020 | ||||||||||||||||||||||||||
In millions of dollars | Mortgage-backed | U.S. Treasury and federal agency | State and municipal | Foreign government | Corporate | Total AFS | ||||||||||||||||||||
Allowance for credit losses at beginning of period | $ | — | $ | — | $ | — | $ | 3 | $ | 5 | $ | 8 | ||||||||||||||
Less: Write-offs | — | — | — | — | — | — | ||||||||||||||||||||
Recoveries of amounts written-off | — | — | — | — | 1 | 1 | ||||||||||||||||||||
Net credit losses (NCLs) | $ | — | $ | — | $ | — | $ | — | $ | 1 | $ | 1 | ||||||||||||||
NCLs | $ | — | $ | — | $ | — | $ | — | $ | (1) | $ | (1) | ||||||||||||||
Credit losses on securities without previous credit losses | — | — | — | — | — | — | ||||||||||||||||||||
Net reserve builds (releases) on securities with previous credit losses | — | — | — | (3) | — | (3) | ||||||||||||||||||||
Total provision for credit losses | $ | — | $ | — | $ | — | $ | (3) | $ | (1) | $ | (4) | ||||||||||||||
Initial allowance on newly purchased credit-deteriorated securities during the period | — | — | — | — | — | — | ||||||||||||||||||||
Allowance for credit losses at end of period | $ | — | $ | — | $ | — | $ | — | $ | 5 | $ | 5 | ||||||||||||||
Nine Months Ended September 30, 2020 | ||||||||||||||||||||||||||
In millions of dollars | Mortgage-backed | U.S. Treasury and federal agency | State and municipal | Foreign government | Corporate | Total AFS | ||||||||||||||||||||
Allowance for credit losses at beginning of period | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||
Less: Write-offs | — | — | — | — | — | — | ||||||||||||||||||||
Recoveries of amounts written-off | — | — | — | — | 1 | 1 | ||||||||||||||||||||
Net credit losses (NCLs) | $ | — | $ | — | $ | — | $ | — | $ | 1 | $ | 1 | ||||||||||||||
NCLs | $ | — | $ | — | $ | — | $ | — | $ | (1) | $ | (1) | ||||||||||||||
Credit losses on securities without previous credit losses | — | — | — | 3 | 5 | 8 | ||||||||||||||||||||
Net reserve builds (releases) on securities with previous credit losses | — | — | — | (3) | — | (3) | ||||||||||||||||||||
Total provision for credit losses | $ | — | $ | — | $ | — | $ | — | $ | 4 | $ | 4 | ||||||||||||||
Initial allowance on newly purchased credit-deteriorated securities during the period | — | — | — | — | — | — | ||||||||||||||||||||
Allowance for credit losses at end of period | $ | — | $ | — | $ | — | $ | — | $ | 5 | $ | 5 | ||||||||||||||
In millions of dollars | In millions of dollars | September 30, 2021 | December 31, 2020 | In millions of dollars | June 30, 2022 | December 31, 2021 | ||||||||||
Measurement alternative: | Measurement alternative: | Measurement alternative: | ||||||||||||||
Carrying value | Carrying value | $ | 1,392 | $ | 962 | Carrying value | $ | 1,670 | $ | 1,413 |
Three Months Ended September 30, | Nine Months Ended September 30, | Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||||||||||||
In millions of dollars | In millions of dollars | 2021 | 2020 | 2021 | 2020 | In millions of dollars | 2022 | 2021 | 2022 | 2021 | ||||||||||||||||||
Measurement alternative:(1) | Measurement alternative:(1) | Measurement alternative:(1) | ||||||||||||||||||||||||||
Impairment losses | Impairment losses | $ | 9 | $ | 2 | $ | 13 | $ | 55 | Impairment losses | $ | 6 | $ | 4 | $ | 6 | $ | 4 | ||||||||||
Downward changes for observable prices | Downward changes for observable prices | — | — | — | 19 | Downward changes for observable prices | — | — | — | — | ||||||||||||||||||
Upward changes for observable prices | Upward changes for observable prices | 86 | 40 | 382 | 82 | Upward changes for observable prices | 48 | 215 | 134 | 296 |
Life-to-date amounts on securities still held | |||||
In millions of dollars | |||||
Measurement alternative: | |||||
Impairment losses | $ | ||||
Downward changes for observable prices | |||||
Upward changes for observable prices |
Fair value | Unfunded commitments | Redemption frequency (if currently eligible) monthly, quarterly, annually | Redemption notice period | Fair value | Unfunded commitments | Redemption frequency (if currently eligible) monthly, quarterly, annually | Redemption notice period | |||||||||||||||||||||||||||||||||
In millions of dollars | In millions of dollars | September 30, 2021 | December 31, 2020 | September 30, 2021 | December 31, 2020 | In millions of dollars | June 30, 2022 | December 31, 2021 | June 30, 2022 | December 31, 2021 | ||||||||||||||||||||||||||||||
Private equity funds(1)(2) | Private equity funds(1)(2) | $ | 123 | $ | 123 | $ | 60 | $ | 62 | — | Private equity funds(1)(2) | $ | 118 | $ | 123 | $ | 60 | $ | 60 | N/A | ||||||||||||||||||||
Real estate funds(2)(3) | Real estate funds(2)(3) | 2 | 9 | 1 | 20 | — | Real estate funds(2)(3) | 1 | 2 | 1 | 1 | N/A | ||||||||||||||||||||||||||||
Mutual/collective investment funds | Mutual/collective investment funds | 20 | 20 | — | — | — | Mutual/collective investment funds | 22 | 20 | — | — | N/A | ||||||||||||||||||||||||||||
Total | Total | $ | 145 | $ | 152 | $ | 61 | $ | 82 | — | Total | $ | 141 | $ | 145 | $ | 61 | $ | 61 | N/A |
In millions of dollars | June 30, 2022 | December 31, 2021 | ||||||
In North America offices(1) | ||||||||
Commercial and industrial | $ | 55,823 | $ | 48,364 | ||||
Financial institutions | 46,088 | 49,804 | ||||||
Mortgage and real estate(2) | 17,359 | 15,965 | ||||||
Installment and other | 20,466 | 20,143 | ||||||
Lease financing | 379 | 415 | ||||||
Total | $ | 140,115 | $ | 134,691 | ||||
In offices outside North America(1) | ||||||||
Commercial and industrial | $ | 108,274 | $ | 102,735 | ||||
Financial institutions | 24,654 | 22,158 | ||||||
Mortgage and real estate(2) | 4,455 | 4,374 | ||||||
Installment and other | 19,862 | 22,812 | ||||||
Lease financing | 53 | 40 | ||||||
Governments and official institutions | 4,315 | 4,423 | ||||||
Total | $ | 161,613 | $ | 156,542 | ||||
Corporate loans, net of unearned income(3) | $ | 301,728 | $ | 291,233 |
In millions of dollars | 30–89 days past due and accruing(1) | ≥ 90 days past due and accruing(1) | Total past due and accruing | Total non-accrual(2) | Total current(3) | Total loans(4) | ||||||||||||||
Commercial and industrial | $ | 919 | $ | 358 | $ | 1,277 | $ | 1,407 | $ | 158,654 | $ | 161,338 | ||||||||
Financial institutions | 304 | 162 | 466 | 78 | 69,904 | 70,448 | ||||||||||||||
Mortgage and real estate | 11 | 20 | 31 | 77 | 21,653 | 21,761 | ||||||||||||||
Lease financing | — | — | — | 11 | 421 | 432 | ||||||||||||||
Other | 86 | 29 | 115 | 82 | 43,024 | 43,221 | ||||||||||||||
Loans at fair value | 4,528 | |||||||||||||||||||
Total | $ | 1,320 | $ | 569 | $ | 1,889 | $ | 1,655 | $ | 293,656 | $ | 301,728 |
In millions of dollars | 30–89 days past due and accruing(1) | ≥ 90 days past due and accruing(1) | Total past due and accruing | Total non-accrual(2) | Total current(3) | Total loans(4) | ||||||||||||||
Commercial and industrial | $ | 1,072 | $ | 239 | $ | 1,311 | $ | 1,263 | $ | 144,430 | $ | 147,004 | ||||||||
Financial institutions | 320 | 166 | 486 | 2 | 71,279 | 71,767 | ||||||||||||||
Mortgage and real estate | 1 | 1 | 2 | 136 | 20,153 | 20,291 | ||||||||||||||
Lease financing | — | — | — | 14 | 441 | 455 | ||||||||||||||
Other | 77 | 19 | 96 | 138 | 45,412 | 45,646 | ||||||||||||||
Loans at fair value | 6,070 | |||||||||||||||||||
Total | $ | 1,470 | $ | 425 | $ | 1,895 | $ | 1,553 | $ | 281,715 | $ | 291,233 |
Recorded investment in loans(1) | ||||||||||||||||||||||||||||||||
Term loans by year of origination | Revolving line of credit arrangements(2) | June 30, 2022 | ||||||||||||||||||||||||||||||
In millions of dollars | 2022 | 2021 | 2020 | 2019 | 2018 | Prior | ||||||||||||||||||||||||||
Investment grade(3) | ||||||||||||||||||||||||||||||||
Commercial and industrial(4) | $ | 43,233 | $ | 7,890 | $ | 4,305 | $ | 4,009 | $ | 3,268 | $ | 9,500 | $ | 39,383 | $ | 111,588 | ||||||||||||||||
Financial institutions(4) | 9,239 | 5,787 | 1,434 | 1,172 | 828 | 1,636 | 39,935 | 60,031 | ||||||||||||||||||||||||
Mortgage and real estate | 2,363 | 3,323 | 3,881 | 3,256 | 1,640 | 2,148 | 277 | 16,888 | ||||||||||||||||||||||||
Other(5) | 6,049 | 2,752 | 2,228 | 1,027 | 2,177 | 5,244 | 18,476 | 37,953 | ||||||||||||||||||||||||
Total investment grade | $ | 60,884 | $ | 19,752 | $ | 11,848 | $ | 9,464 | $ | 7,913 | $ | 18,528 | $ | 98,071 | $ | 226,460 | ||||||||||||||||
Non-investment grade(3) | ||||||||||||||||||||||||||||||||
Accrual | ||||||||||||||||||||||||||||||||
Commercial and industrial(4) | $ | 14,009 | $ | 5,880 | $ | 2,167 | $ | 1,601 | $ | 1,511 | $ | 4,752 | $ | 18,423 | $ | 48,343 | ||||||||||||||||
Financial institutions(4) | 5,092 | 1,111 | 252 | 341 | 57 | 494 | 2,992 | 10,339 | ||||||||||||||||||||||||
Mortgage and real estate | 196 | 853 | 519 | 860 | 995 | 994 | 379 | 4,796 | ||||||||||||||||||||||||
Other(5) | 886 | 712 | 374 | 449 | 224 | 298 | 2,664 | 5,607 | ||||||||||||||||||||||||
Non-accrual | ||||||||||||||||||||||||||||||||
Commercial and industrial(4) | 160 | 110 | 313 | 133 | 82 | 148 | 461 | 1,407 | ||||||||||||||||||||||||
Financial institutions | 41 | 35 | — | — | — | — | 2 | 78 | ||||||||||||||||||||||||
Mortgage and real estate | 6 | 1 | 1 | — | — | 23 | 46 | 77 | ||||||||||||||||||||||||
Other(5) | 30 | 5 | 3 | 9 | 17 | 12 | 17 | 93 | ||||||||||||||||||||||||
Total non-investment grade | $ | 20,420 | $ | 8,707 | $ | 3,629 | $ | 3,393 | $ | 2,886 | $ | 6,721 | $ | 24,984 | $ | 70,740 | ||||||||||||||||
Loans at fair value(6) | $ | 4,528 | ||||||||||||||||||||||||||||||
Corporate loans, net of unearned income | $ | 81,304 | $ | 28,459 | $ | 15,477 | $ | 12,857 | $ | 10,799 | $ | 25,249 | $ | 123,055 | $ | 301,728 |
Recorded investment in loans(1) | ||||||||||||||||||||||||||||||||
Term loans by year of origination | Revolving line of credit arrangements(2) | December 31, 2021 | ||||||||||||||||||||||||||||||
In millions of dollars | 2021 | 2020 | 2019 | 2018 | 2017 | Prior | ||||||||||||||||||||||||||
Investment grade(3) | ||||||||||||||||||||||||||||||||
Commercial and industrial(4) | $ | 42,422 | $ | 5,529 | $ | 4,642 | $ | 3,757 | $ | 2,911 | $ | 8,392 | $ | 30,588 | $ | 98,241 | ||||||||||||||||
Financial institutions(4) | 12,862 | 1,678 | 1,183 | 1,038 | 419 | 1,354 | 43,630 | 62,164 | ||||||||||||||||||||||||
Mortgage and real estate | 2,423 | 3,660 | 3,332 | 2,015 | 1,212 | 1,288 | 141 | 14,071 | ||||||||||||||||||||||||
Other(5) | 9,037 | 3,099 | 1,160 | 2,789 | 330 | 4,601 | 18,727 | 39,743 | ||||||||||||||||||||||||
Total investment grade | $ | 66,744 | $ | 13,966 | $ | 10,317 | $ | 9,599 | $ | 4,872 | $ | 15,635 | $ | 93,086 | $ | 214,219 | ||||||||||||||||
Non-investment grade(3) | ||||||||||||||||||||||||||||||||
Accrual | ||||||||||||||||||||||||||||||||
Commercial and industrial(4) | $ | 16,783 | $ | 2,281 | $ | 2,343 | $ | 2,024 | $ | 1,412 | $ | 3,981 | $ | 18,676 | $ | 47,500 | ||||||||||||||||
Financial institutions(4) | 4,325 | 347 | 567 | 101 | 71 | 511 | 3,679 | 9,601 | ||||||||||||||||||||||||
Mortgage and real estate | 1,275 | 869 | 1,228 | 1,018 | 493 | 586 | 615 | 6,084 | ||||||||||||||||||||||||
Other(5) | 1,339 | 349 | 554 | 364 | 119 | 245 | 3,236 | 6,206 | ||||||||||||||||||||||||
Non-accrual | ||||||||||||||||||||||||||||||||
Commercial and industrial(4) | 53 | 119 | 64 | 104 | 94 | 117 | 712 | 1,263 | ||||||||||||||||||||||||
Financial institutions | — | — | — | — | — | — | 2 | 2 | ||||||||||||||||||||||||
Mortgage and real estate | 11 | 8 | 2 | 49 | 10 | 25 | 31 | 136 | ||||||||||||||||||||||||
Other(5) | 19 | 5 | 19 | 19 | — | 90 | — | 152 | ||||||||||||||||||||||||
Total non-investment grade | $ | 23,805 | $ | 3,978 | $ | 4,777 | $ | 3,679 | $ | 2,199 | $ | 5,555 | $ | 26,951 | $ | 70,944 | ||||||||||||||||
Loans at fair value(6) | $ | 6,070 | ||||||||||||||||||||||||||||||
Corporate loans, net of unearned income | $ | 90,549 | $ | 17,944 | $ | 15,094 | $ | 13,278 | $ | 7,071 | $ | 21,190 | $ | 120,037 | $ | 291,233 |
June 30, 2022 | Three Months Ended June 30, 2022 | Six Months Ended June 30, 2022 | ||||||||||||||||||
In millions of dollars | Recorded investment(1) | Unpaid principal balance | Related specific allowance | Average carrying value(2) | Interest income recognized | Interest income recognized(3) | ||||||||||||||
Non-accrual corporate loans | ||||||||||||||||||||
Commercial and industrial | $ | 1,407 | $ | 2,042 | $ | 518 | $ | 1,485 | $ | 10 | $ | 18 | ||||||||
Financial institutions | 78 | 137 | 35 | 36 | — | — | ||||||||||||||
Mortgage and real estate | 77 | 77 | 1 | 129 | — | 2 | ||||||||||||||
Lease financing | 11 | 11 | — | 15 | — | — | ||||||||||||||
Other | 82 | 134 | 6 | 134 | 1 | 3 | ||||||||||||||
Total non-accrual corporate loans | $ | 1,655 | $ | 2,401 | $ | 560 | $ | 1,799 | $ | 11 | $ | 23 |
December 31, 2021 | ||||||||||||||||||||
In millions of dollars | Recorded investment(1) | Unpaid principal balance | Related specific allowance | Average carrying value(2) | ||||||||||||||||
Non-accrual corporate loans | ||||||||||||||||||||
Commercial and industrial | $ | 1,263 | $ | 1,858 | $ | 198 | $ | 1,839 | ||||||||||||
Financial institutions | 2 | 55 | — | 4 | ||||||||||||||||
Mortgage and real estate | 136 | 285 | 10 | 163 | ||||||||||||||||
Lease financing | 14 | 14 | — | 21 | ||||||||||||||||
Other | 138 | 165 | 4 | 134 | ||||||||||||||||
Total non-accrual corporate loans | $ | 1,553 | $ | 2,377 | $ | 212 | $ | 2,161 |
June 30, 2022 | December 31, 2021 | |||||||||||||
In millions of dollars | Recorded investment(1) | Related specific allowance | Recorded investment(1) | Related specific allowance | ||||||||||
Non-accrual corporate loans with specific allowances | ||||||||||||||
Commercial and industrial | $ | 1,052 | $ | 518 | $ | 637 | $ | 198 | ||||||
Financial institutions | 35 | 35 | — | — | ||||||||||
Mortgage and real estate | 9 | 1 | 29 | 10 | ||||||||||
Other | 20 | 6 | 37 | 4 | ||||||||||
Total non-accrual corporate loans with specific allowances | $ | 1,116 | $ | 560 | $ | 703 | $ | 212 | ||||||
Non-accrual corporate loans without specific allowances | ||||||||||||||
Commercial and industrial | $ | 355 | N/A | $ | 626 | N/A | ||||||||
Financial institutions | 43 | N/A | 2 | N/A | ||||||||||
Mortgage and real estate | 68 | N/A | 107 | N/A | ||||||||||
Lease financing | 11 | N/A | 14 | N/A | ||||||||||
Other | 62 | N/A | 101 | N/A | ||||||||||
Total non-accrual corporate loans without specific allowances | $ | 539 | N/A | $ | 850 | N/A |
In millions of dollars | Carrying value of TDRs modified during the period | TDRs involving changes in the amount and/or timing of principal payments(2) | TDRs involving changes in the amount and/or timing of interest payments(3) | TDRs involving changes in the amount and/or timing of both principal and interest payments | ||||||||||||||||
Three Months Ended June 30, 2022 | ||||||||||||||||||||
Commercial and industrial | $ | 3 | $ | — | $ | — | $ | 3 | ||||||||||||
Other | 23 | — | — | 23 | ||||||||||||||||
Total | $ | 26 | $ | — | $ | — | $ | 26 | ||||||||||||
Six Months Ended June 30, 2022 | ||||||||||||||||||||
Commercial and industrial | $ | 15 | $ | — | $ | — | $ | 15 | ||||||||||||
Other | 23 | 1 | — | 22 | ||||||||||||||||
Total | $ | 38 | $ | 1 | $ | — | $ | 37 |
In millions of dollars | Carrying value of TDRs modified during the period | TDRs involving changes in the amount and/or timing of principal payments(2) | TDRs involving changes in the amount and/or timing of interest payments(3) | TDRs involving changes in the amount and/or timing of both principal and interest payments | ||||||||||||||||
Three Months Ended June 30, 2021 | ||||||||||||||||||||
Commercial and industrial | $ | 52 | $ | — | $ | — | $ | 52 | ||||||||||||
Mortgage and real estate | 5 | — | — | 5 | ||||||||||||||||
Other | — | — | — | — | ||||||||||||||||
Total | $ | 57 | $ | — | $ | — | $ | 57 | ||||||||||||
Six Months Ended June 30, 2021 | ||||||||||||||||||||
Commercial and industrial | $ | 73 | $ | — | $ | — | $ | 73 | ||||||||||||
Mortgage and real estate | 6 | — | — | 6 | ||||||||||||||||
Other | 1 | 1 | — | — | ||||||||||||||||
Total | $ | 80 | $ | 1 | $ | — | $ | 79 |
TDR loans that re-defaulted within one year of modification during the | TDR loans that re-defaulted within one year of modification during the | |||||||||||||||||||
In millions of dollars | TDR balances at June 30, 2022 | Three Months Ended June 30, 2022 | Six Months Ended June 30, 2022 | TDR balances at June 30, 2021 | Three Months Ended June 30, 2021 | Six Months Ended June 30, 2021 | ||||||||||||||
Commercial and industrial | $ | 148 | $ | — | $ | — | $ | 298 | $ | — | $ | — | ||||||||
Mortgage and real estate | 16 | — | — | 80 | — | — | ||||||||||||||
Other | 39 | — | — | 38 | — | — | ||||||||||||||
Total(1) | $ | 203 | $ | — | $ | — | $ | 416 | $ | — | $ | — |
In millions of dollars | Total current(1)(2) | 30–89 days past due(3)(4) | ≥ 90 days past due(3)(4) | Past due government guaranteed(5) | Total loans | Non-accrual loans for which there is no ACLL | Non-accrual loans for which there is an ACLL | Total non-accrual | 90 days past due and accruing | ||||||||||||||||||||
In North America offices(6) | |||||||||||||||||||||||||||||
Residential first mortgages(7) | $ | 43,388 | $ | 289 | $ | 275 | $ | 393 | $ | 44,345 | $ | 133 | $ | 347 | $ | 480 | $ | 267 | |||||||||||
Home equity loans(8)(9) | 5,276 | 48 | 161 | — | 5,485 | 65 | 210 | 275 | — | ||||||||||||||||||||
Credit cards | 123,897 | 846 | 783 | — | 125,526 | — | — | — | 783 | ||||||||||||||||||||
Personal, small business and other | 3,150 | 12 | 6 | 11 | 3,179 | — | 17 | 17 | — | ||||||||||||||||||||
Total | $ | 175,711 | $ | 1,195 | $ | 1,225 | $ | 404 | $ | 178,535 | $ | 198 | $ | 574 | $ | 772 | $ | 1,050 | |||||||||||
In offices outside North America(6) | |||||||||||||||||||||||||||||
Residential first mortgages(7) | $ | 33,993 | $ | 177 | $ | 169 | $ | — | $ | 34,339 | $ | — | $ | 419 | $ | 419 | $ | — | |||||||||||
Credit cards | 17,304 | 233 | 226 | — | 17,763 | — | 187 | 187 | 146 | ||||||||||||||||||||
Personal, small business and other | 33,362 | 162 | 89 | — | 33,613 | — | 211 | 211 | 26 | ||||||||||||||||||||
Total | $ | 84,659 | $ | 572 | $ | 484 | $ | — | $ | 85,715 | $ | — | $ | 817 | $ | 817 | $ | 172 | |||||||||||
Total Citigroup(10) | $ | 260,370 | $ | 1,767 | $ | 1,709 | $ | 404 | $ | 264,250 | $ | 198 | $ | 1,391 | $ | 1,589 | $ | 1,222 |
In millions of dollars | Three Months Ended September 30, 2021 | Three Months Ended September 30, 2020 | Nine Months Ended September 30, 2021 | Nine Months Ended September 30, 2020 | ||||||||||
In North America offices(1) | ||||||||||||||
Residential first mortgages | $ | 3 | $ | 4 | $ | 9 | $ | 11 | ||||||
Home equity loans | 2 | 2 | 6 | 6 | ||||||||||
Credit cards | — | — | — | — | ||||||||||
Personal, small business and other | — | — | — | — | ||||||||||
Total | $ | 5 | $ | 6 | $ | 15 | $ | 17 | ||||||
In offices outside North America(1) | ||||||||||||||
Residential first mortgages | $ | — | $ | — | $ | — | $ | — | ||||||
Credit cards | — | — | — | — | ||||||||||
Personal, small business and other | — | — | — | — | ||||||||||
Total | $ | — | $ | — | $ | — | $ | — | ||||||
Total Citigroup | $ | 5 | $ | 6 | $ | 15 | $ | 17 |
In millions of dollars | Total current(1)(2) | 30–89 days past due(3)(4) | ≥ 90 days past due(3)(4) | Past due government guaranteed(5) | Total loans | Non-accrual loans for which there is no ACLL | Non-accrual loans for which there is an ACLL | Total non-accrual | 90 days past due and accruing | ||||||||||||||||||||
In North America offices(6) | |||||||||||||||||||||||||||||
Residential first mortgages(7) | $ | 46,471 | $ | 402 | $ | 381 | $ | 524 | $ | 47,778 | $ | 136 | $ | 509 | $ | 645 | $ | 332 | |||||||||||
Home equity loans(8)(9) | 6,829 | 78 | 221 | — | 7,128 | 72 | 307 | 379 | — | ||||||||||||||||||||
Credit cards | 127,827 | 1,228 | 1,330 | — | 130,385 | — | — | — | 1,330 | ||||||||||||||||||||
Personal, small business and other | 4,472 | 27 | 10 | — | 4,509 | 2 | 33 | 35 | — | ||||||||||||||||||||
Total | $ | 185,599 | $ | 1,735 | $ | 1,942 | $ | 524 | $ | 189,800 | $ | 210 | $ | 849 | $ | 1,059 | $ | 1,662 | |||||||||||
In offices outside North America(6) | |||||||||||||||||||||||||||||
Residential first mortgages(7) | $ | 39,557 | $ | 213 | $ | 199 | $ | — | $ | 39,969 | $ | — | $ | 486 | $ | 486 | $ | — | |||||||||||
Credit cards | 21,718 | 429 | 545 | — | 22,692 | — | 384 | 384 | 324 | ||||||||||||||||||||
Personal, small business and other | 35,925 | 319 | 134 | — | 36,378 | — | 212 | 212 | 52 | ||||||||||||||||||||
Total | $ | 97,200 | $ | 961 | $ | 878 | $ | — | $ | 99,039 | $ | — | $ | 1,082 | $ | 1,082 | $ | 376 | |||||||||||
Total Citigroup(10) | $ | 282,799 | $ | 2,696 | $ | 2,820 | $ | 524 | $ | 288,839 | $ | 210 | $ | 1,931 | $ | 2,141 | $ | 2,038 |
Recorded investment in loans(1) | ||||||||||||||||||||||||||||||||
Term loans by year of origination | Revolving line of credit arrangements(2) | June 30, 2022 | ||||||||||||||||||||||||||||||
In millions of dollars | 2022 | 2021 | 2020 | 2019 | 2018 | Prior | ||||||||||||||||||||||||||
Investment grade(3) | ||||||||||||||||||||||||||||||||
Commercial and industrial(4) | $ | 43,233 | $ | 7,890 | $ | 4,305 | $ | 4,009 | $ | 3,268 | $ | 9,500 | $ | 39,383 | $ | 111,588 | ||||||||||||||||
Financial institutions(4) | 9,239 | 5,787 | 1,434 | 1,172 | 828 | 1,636 | 39,935 | 60,031 | ||||||||||||||||||||||||
Mortgage and real estate | 2,363 | 3,323 | 3,881 | 3,256 | 1,640 | 2,148 | 277 | 16,888 | ||||||||||||||||||||||||
Other(5) | 6,049 | 2,752 | 2,228 | 1,027 | 2,177 | 5,244 | 18,476 | 37,953 | ||||||||||||||||||||||||
Total investment grade | $ | 60,884 | $ | 19,752 | $ | 11,848 | $ | 9,464 | $ | 7,913 | $ | 18,528 | $ | 98,071 | $ | 226,460 | ||||||||||||||||
Non-investment grade(3) | ||||||||||||||||||||||||||||||||
Accrual | ||||||||||||||||||||||||||||||||
Commercial and industrial(4) | $ | 14,009 | $ | 5,880 | $ | 2,167 | $ | 1,601 | $ | 1,511 | $ | 4,752 | $ | 18,423 | $ | 48,343 | ||||||||||||||||
Financial institutions(4) | 5,092 | 1,111 | 252 | 341 | 57 | 494 | 2,992 | 10,339 | ||||||||||||||||||||||||
Mortgage and real estate | 196 | 853 | 519 | 860 | 995 | 994 | 379 | 4,796 | ||||||||||||||||||||||||
Other(5) | 886 | 712 | 374 | 449 | 224 | 298 | 2,664 | 5,607 | ||||||||||||||||||||||||
Non-accrual | ||||||||||||||||||||||||||||||||
Commercial and industrial(4) | 160 | 110 | 313 | 133 | 82 | 148 | 461 | 1,407 | ||||||||||||||||||||||||
Financial institutions | 41 | 35 | — | — | — | — | 2 | 78 | ||||||||||||||||||||||||
Mortgage and real estate | 6 | 1 | 1 | — | — | 23 | 46 | 77 | ||||||||||||||||||||||||
Other(5) | 30 | 5 | 3 | 9 | 17 | 12 | 17 | 93 | ||||||||||||||||||||||||
Total non-investment grade | $ | 20,420 | $ | 8,707 | $ | 3,629 | $ | 3,393 | $ | 2,886 | $ | 6,721 | $ | 24,984 | $ | 70,740 | ||||||||||||||||
Loans at fair value(6) | $ | 4,528 | ||||||||||||||||||||||||||||||
Corporate loans, net of unearned income | $ | 81,304 | $ | 28,459 | $ | 15,477 | $ | 12,857 | $ | 10,799 | $ | 25,249 | $ | 123,055 | $ | 301,728 |
FICO score distribution in U.S. portfolio(1)(2) | September 30, 2021 | ||||||||||||||||
In millions of dollars | Less than 680 | 680 to 760 | Greater than 760 | FICO not available | Total loans | ||||||||||||
Residential first mortgages | |||||||||||||||||
2021 | $ | 132 | $ | 2,555 | $ | 5,535 | |||||||||||
2020 | 180 | 2,949 | 8,046 | ||||||||||||||
2019 | 133 | 1,369 | 3,499 | ||||||||||||||
2018 | 207 | 468 | 820 | ||||||||||||||
2017 | 249 | 646 | 1,272 | ||||||||||||||
Prior | 1,602 | 4,164 | 8,755 | ||||||||||||||
Total residential first mortgages | $ | 2,503 | $ | 12,151 | $ | 27,927 | $ | 1,764 | $ | 44,345 | |||||||
Home equity loans (pre-reset) | $ | 228 | $ | 877 | $ | 1,399 | |||||||||||
Home equity loans (post-reset) | 678 | 1,097 | 1,176 | ||||||||||||||
Total home equity loans | $ | 906 | $ | 1,974 | $ | 2,575 | $ | 30 | $ | 5,485 | |||||||
Credit cards(3) | $ | 21,579 | $ | 50,734 | $ | 50,451 | $ | 2,237 | $ | 125,001 | |||||||
Personal, small business and other | |||||||||||||||||
2021 | $ | 19 | $ | 63 | $ | 114 | |||||||||||
2020 | 23 | 50 | 77 | ||||||||||||||
2019 | 48 | 65 | 82 | ||||||||||||||
2018 | 41 | 45 | 47 | ||||||||||||||
2017 | 11 | 12 | 13 | ||||||||||||||
Prior | 120 | 176 | 141 | ||||||||||||||
Total personal, small business and other | $ | 262 | $ | 411 | $ | 474 | $ | 2,032 | $ | 3,179 | |||||||
Total | $ | 25,250 | $ | 65,270 | $ | 81,427 | $ | 6,063 | $ | 178,010 |
FICO score distribution in U.S. portfolio(1)(2) | December 31, 2020 | ||||||||||||||||
In millions of dollars | Less than 680 | 680 to 760 | Greater than 760 | FICO not available | Total loans | ||||||||||||
Residential first mortgages | |||||||||||||||||
2020 | $ | 187 | $ | 3,741 | $ | 9,052 | |||||||||||
2019 | 150 | 1,857 | 5,384 | ||||||||||||||
2018 | 246 | 655 | 1,227 | ||||||||||||||
2017 | 298 | 846 | 1,829 | ||||||||||||||
2016 | 323 | 1,368 | 3,799 | ||||||||||||||
Prior | 1,708 | 4,133 | 9,105 | ||||||||||||||
Total residential first mortgages | $ | 2,912 | $ | 12,600 | $ | 30,396 | $ | 1,870 | $ | 47,778 | |||||||
Home equity loans (pre-reset) | $ | 292 | $ | 1,014 | $ | 1,657 | |||||||||||
Home equity loans (post-reset) | 1,055 | 1,569 | 1,524 | ||||||||||||||
Total home equity loans | $ | 1,347 | $ | 2,583 | $ | 3,181 | $ | 17 | $ | 7,128 | |||||||
Credit cards(3) | $ | 26,227 | $ | 52,778 | $ | 49,767 | $ | 1,041 | $ | 129,813 | |||||||
Personal, small business and other | |||||||||||||||||
2020 | $ | 23 | $ | 58 | $ | 95 | |||||||||||
2019 | 79 | 106 | 134 | ||||||||||||||
2018 | 82 | 80 | 84 | ||||||||||||||
2017 | 26 | 27 | 30 | ||||||||||||||
2016 | 10 | 9 | 8 | ||||||||||||||
Prior | 214 | 393 | 529 | ||||||||||||||
Total personal, small business and other | $ | 434 | $ | 673 | $ | 880 | $ | 2,522 | $ | 4,509 | |||||||
Total | $ | 30,920 | $ | 68,634 | $ | 84,224 | $ | 5,450 | $ | 189,228 |
LTV distribution in U.S. portfolio | September 30, 2021 | ||||||||||||||||
In millions of dollars | Less than or equal to 80% | > 80% but less than or equal to 100% | Greater than 100% | LTV not available | Total | ||||||||||||
Residential first mortgages | |||||||||||||||||
2021 | $ | 7,875 | $ | 355 | $ | — | |||||||||||
2020 | 11,049 | 137 | — | ||||||||||||||
2019 | 4,913 | 96 | 1 | ||||||||||||||
2018 | 1,378 | 117 | 6 | ||||||||||||||
2017 | 2,117 | 56 | 2 | ||||||||||||||
Prior | 14,556 | 44 | 10 | ||||||||||||||
Total residential first mortgages | $ | 41,888 | $ | 805 | $ | 19 | $ | 1,633 | $ | 44,345 | |||||||
Home equity loans (pre-reset) | $ | 2,441 | $ | 34 | $ | 10 | |||||||||||
Home equity loans (post-reset) | 2,839 | 69 | 28 | ||||||||||||||
Total home equity loans | $ | 5,280 | $ | 103 | $ | 38 | $ | 64 | $ | 5,485 | |||||||
Total | $ | 47,168 | $ | 908 | $ | 57 | $ | 1,697 | $ | 49,830 |
LTV distribution in U.S. portfolio | December 31, 2020 | ||||||||||||||||
In millions of dollars | Less than or equal to 80% | > 80% but less than or equal to 100% | Greater than 100% | LTV not available | Total | ||||||||||||
Residential first mortgages | |||||||||||||||||
2020 | $ | 11,447 | $ | 1,543 | $ | — | |||||||||||
2019 | 7,029 | 376 | 2 | ||||||||||||||
2018 | 1,617 | 507 | 11 | ||||||||||||||
2017 | 2,711 | 269 | 4 | ||||||||||||||
2016 | 5,423 | 84 | 2 | ||||||||||||||
Prior | 14,966 | 66 | 16 | ||||||||||||||
Total residential first mortgages | $ | 43,193 | $ | 2,845 | $ | 35 | $ | 1,705 | $ | 47,778 | |||||||
Home equity loans (pre-reset) | $ | 2,876 | $ | 50 | $ | 16 | |||||||||||
Home equity loans (post-reset) | 3,782 | 290 | 58 | ||||||||||||||
Total home equity loans | $ | 6,658 | $ | 340 | $ | 74 | $ | 56 | $ | 7,128 | |||||||
Total | $ | 49,851 | $ | 3,185 | $ | 109 | $ | 1,761 | $ | 54,906 |
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||||||||||||
Balance at September 30, 2021 | 2021 | 2020 | 2021 | 2020 | ||||||||||||||||||||||
In millions of dollars | Recorded investment(1)(2) | Unpaid principal balance | Related specific allowance(3) | Average carrying value(4) | Interest income recognized(5) | Interest income recognized(5) | Interest income recognized(5) | Interest income recognized(5) | ||||||||||||||||||
Mortgage and real estate | ||||||||||||||||||||||||||
Residential first mortgages | $ | 1,422 | $ | 1,566 | $ | 103 | $ | 1,632 | $ | 23 | $ | 16 | $ | 65 | $ | 44 | ||||||||||
Home equity loans | 262 | 355 | 4 | 408 | 2 | 3 | 8 | 10 | ||||||||||||||||||
Credit cards | 1,701 | 1,702 | 661 | 1,895 | 24 | 26 | 92 | 77 | ||||||||||||||||||
Personal, small business and other | 467 | 787 | 123 | 529 | 14 | 18 | 41 | 50 | ||||||||||||||||||
Total | $ | 3,852 | $ | 4,410 | $ | 891 | $ | 4,464 | $ | 63 | $ | 63 | $ | 206 | $ | 181 |
Balance at December 31, 2020 | |||||||||||||||||
In millions of dollars | Recorded investment(1)(2) | Unpaid principal balance | Related specific allowance(3) | Average carrying value(4) | |||||||||||||
Mortgage and real estate | |||||||||||||||||
Residential first mortgages | $ | 1,787 | $ | 1,962 | $ | 157 | $ | 1,661 | |||||||||
Home equity loans | 478 | 651 | 60 | 527 | |||||||||||||
Credit cards | 1,982 | 2,135 | 918 | 1,926 | |||||||||||||
Personal, small business and other | 552 | 552 | 210 | 463 | |||||||||||||
Total | $ | 4,799 | $ | 5,300 | $ | 1,345 | $ | 4,577 |
Recorded investment in loans(1) | ||||||||||||||||||||||||||||||||
Term loans by year of origination | Revolving line of credit arrangements(2) | December 31, 2021 | ||||||||||||||||||||||||||||||
In millions of dollars | 2021 | 2020 | 2019 | 2018 | 2017 | Prior | ||||||||||||||||||||||||||
Investment grade(3) | ||||||||||||||||||||||||||||||||
Commercial and industrial(4) | $ | 42,422 | $ | 5,529 | $ | 4,642 | $ | 3,757 | $ | 2,911 | $ | 8,392 | $ | 30,588 | $ | 98,241 | ||||||||||||||||
Financial institutions(4) | 12,862 | 1,678 | 1,183 | 1,038 | 419 | 1,354 | 43,630 | 62,164 | ||||||||||||||||||||||||
Mortgage and real estate | 2,423 | 3,660 | 3,332 | 2,015 | 1,212 | 1,288 | 141 | 14,071 | ||||||||||||||||||||||||
Other(5) | 9,037 | 3,099 | 1,160 | 2,789 | 330 | 4,601 | 18,727 | 39,743 | ||||||||||||||||||||||||
Total investment grade | $ | 66,744 | $ | 13,966 | $ | 10,317 | $ | 9,599 | $ | 4,872 | $ | 15,635 | $ | 93,086 | $ | 214,219 | ||||||||||||||||
Non-investment grade(3) | ||||||||||||||||||||||||||||||||
Accrual | ||||||||||||||||||||||||||||||||
Commercial and industrial(4) | $ | 16,783 | $ | 2,281 | $ | 2,343 | $ | 2,024 | $ | 1,412 | $ | 3,981 | $ | 18,676 | $ | 47,500 | ||||||||||||||||
Financial institutions(4) | 4,325 | 347 | 567 | 101 | 71 | 511 | 3,679 | 9,601 | ||||||||||||||||||||||||
Mortgage and real estate | 1,275 | 869 | 1,228 | 1,018 | 493 | 586 | 615 | 6,084 | ||||||||||||||||||||||||
Other(5) | 1,339 | 349 | 554 | 364 | 119 | 245 | 3,236 | 6,206 | ||||||||||||||||||||||||
Non-accrual | ||||||||||||||||||||||||||||||||
Commercial and industrial(4) | 53 | 119 | 64 | 104 | 94 | 117 | 712 | 1,263 | ||||||||||||||||||||||||
Financial institutions | — | — | — | — | — | — | 2 | 2 | ||||||||||||||||||||||||
Mortgage and real estate | 11 | 8 | 2 | 49 | 10 | 25 | 31 | 136 | ||||||||||||||||||||||||
Other(5) | 19 | 5 | 19 | 19 | — | 90 | — | 152 | ||||||||||||||||||||||||
Total non-investment grade | $ | 23,805 | $ | 3,978 | $ | 4,777 | $ | 3,679 | $ | 2,199 | $ | 5,555 | $ | 26,951 | $ | 70,944 | ||||||||||||||||
Loans at fair value(6) | $ | 6,070 | ||||||||||||||||||||||||||||||
Corporate loans, net of unearned income | $ | 90,549 | $ | 17,944 | $ | 15,094 | $ | 13,278 | $ | 7,071 | $ | 21,190 | $ | 120,037 | $ | 291,233 |
June 30, 2022 | Three Months Ended June 30, 2022 | Six Months Ended June 30, 2022 | ||||||||||||||||||
In millions of dollars | Recorded investment(1) | Unpaid principal balance | Related specific allowance | Average carrying value(2) | Interest income recognized | Interest income recognized(3) | ||||||||||||||
Non-accrual corporate loans | ||||||||||||||||||||
Commercial and industrial | $ | 1,407 | $ | 2,042 | $ | 518 | $ | 1,485 | $ | 10 | $ | 18 | ||||||||
Financial institutions | 78 | 137 | 35 | 36 | — | — | ||||||||||||||
Mortgage and real estate | 77 | 77 | 1 | 129 | — | 2 | ||||||||||||||
Lease financing | 11 | 11 | — | 15 | — | — | ||||||||||||||
Other | 82 | 134 | 6 | 134 | 1 | 3 | ||||||||||||||
Total non-accrual corporate loans | $ | 1,655 | $ | 2,401 | $ | 560 | $ | 1,799 | $ | 11 | $ | 23 |
December 31, 2021 | ||||||||||||||||||||
In millions of dollars | Recorded investment(1) | Unpaid principal balance | Related specific allowance | Average carrying value(2) | ||||||||||||||||
Non-accrual corporate loans | ||||||||||||||||||||
Commercial and industrial | $ | 1,263 | $ | 1,858 | $ | 198 | $ | 1,839 | ||||||||||||
Financial institutions | 2 | 55 | — | 4 | ||||||||||||||||
Mortgage and real estate | 136 | 285 | 10 | 163 | ||||||||||||||||
Lease financing | 14 | 14 | — | 21 | ||||||||||||||||
Other | 138 | 165 | 4 | 134 | ||||||||||||||||
Total non-accrual corporate loans | $ | 1,553 | $ | 2,377 | $ | 212 | $ | 2,161 |
June 30, 2022 | December 31, 2021 | |||||||||||||
In millions of dollars | Recorded investment(1) | Related specific allowance | Recorded investment(1) | Related specific allowance | ||||||||||
Non-accrual corporate loans with specific allowances | ||||||||||||||
Commercial and industrial | $ | 1,052 | $ | 518 | $ | 637 | $ | 198 | ||||||
Financial institutions | 35 | 35 | — | — | ||||||||||
Mortgage and real estate | 9 | 1 | 29 | 10 | ||||||||||
Other | 20 | 6 | 37 | 4 | ||||||||||
Total non-accrual corporate loans with specific allowances | $ | 1,116 | $ | 560 | $ | 703 | $ | 212 | ||||||
Non-accrual corporate loans without specific allowances | ||||||||||||||
Commercial and industrial | $ | 355 | N/A | $ | 626 | N/A | ||||||||
Financial institutions | 43 | N/A | 2 | N/A | ||||||||||
Mortgage and real estate | 68 | N/A | 107 | N/A | ||||||||||
Lease financing | 11 | N/A | 14 | N/A | ||||||||||
Other | 62 | N/A | 101 | N/A | ||||||||||
Total non-accrual corporate loans without specific allowances | $ | 539 | N/A | $ | 850 | N/A |
For the Three Months Ended September 30, 2021 | ||||||||||||||||||||
In millions of dollars, except number of loans modified | Number of loans modified | Post- modification recorded investment(2)(3) | Deferred principal(4) | Contingent principal forgiveness(5) | Principal forgiveness(6) | Average interest rate reduction | ||||||||||||||
North America | ||||||||||||||||||||
Residential first mortgages | 281 | $ | 48 | $ | — | $ | — | $ | — | 1 | % | |||||||||
Home equity loans | 31 | 1 | — | — | — | 1 | ||||||||||||||
Credit cards | 33,746 | 159 | — | — | — | 18 | ||||||||||||||
Personal, small business and other | 169 | 1 | — | — | — | 4 | ||||||||||||||
Total(7) | 34,227 | $ | 209 | $ | — | $ | — | $ | — | |||||||||||
International | ||||||||||||||||||||
Residential first mortgages | 451 | $ | 22 | $ | — | $ | — | $ | — | — | % | |||||||||
Credit cards | 16,082 | 71 | — | — | 2 | 15 | ||||||||||||||
Personal, small business and other | 7,336 | 49 | — | — | 2 | 9 | ||||||||||||||
Total(7) | 23,869 | $ | 142 | $ | — | $ | — | $ | 4 | |||||||||||
For the Three Months Ended September 30, 2020 | ||||||||||||||||||||
In millions of dollars, except number of loans modified | Number of loans modified | Post- modification recorded investment(2)(8) | Deferred principal(4) | Contingent principal forgiveness(5) | Principal forgiveness(6) | Average interest rate reduction | ||||||||||||||
North America | ||||||||||||||||||||
Residential first mortgages | 237 | $ | 42 | $ | — | $ | — | $ | — | — | % | |||||||||
Home equity loans | 62 | 5 | — | — | — | — | ||||||||||||||
Credit cards | 48,909 | 261 | — | — | — | 17 | ||||||||||||||
Personal, small business and other | 1,040 | 12 | — | — | — | 6 | ||||||||||||||
Total(7) | 50,248 | $ | 320 | $ | — | $ | — | $ | — | |||||||||||
International | ||||||||||||||||||||
Residential first mortgages | 696 | $ | 21 | $ | — | $ | — | $ | — | 1 | % | |||||||||
Credit cards | 25,147 | 122 | — | — | 2 | 14 | ||||||||||||||
Personal, small business and other | 12,652 | 106 | — | — | 2 | 10 | ||||||||||||||
Total(7) | 38,495 | $ | 249 | $ | — | $ | — | $ | 4 | |||||||||||
In millions of dollars | Carrying value of TDRs modified during the period | TDRs involving changes in the amount and/or timing of principal payments(2) | TDRs involving changes in the amount and/or timing of interest payments(3) | TDRs involving changes in the amount and/or timing of both principal and interest payments | ||||||||||||||||
Three Months Ended June 30, 2022 | ||||||||||||||||||||
Commercial and industrial | $ | 3 | $ | — | $ | — | $ | 3 | ||||||||||||
Other | 23 | — | — | 23 | ||||||||||||||||
Total | $ | 26 | $ | — | $ | — | $ | 26 | ||||||||||||
Six Months Ended June 30, 2022 | ||||||||||||||||||||
Commercial and industrial | $ | 15 | $ | — | $ | — | $ | 15 | ||||||||||||
Other | 23 | 1 | — | 22 | ||||||||||||||||
Total | $ | 38 | $ | 1 | $ | — | $ | 37 |
In millions of dollars | Carrying value of TDRs modified during the period | TDRs involving changes in the amount and/or timing of principal payments(2) | TDRs involving changes in the amount and/or timing of interest payments(3) | TDRs involving changes in the amount and/or timing of both principal and interest payments | ||||||||||||||||
Three Months Ended June 30, 2021 | ||||||||||||||||||||
Commercial and industrial | $ | 52 | $ | — | $ | — | $ | 52 | ||||||||||||
Mortgage and real estate | 5 | — | — | 5 | ||||||||||||||||
Other | — | — | — | — | ||||||||||||||||
Total | $ | 57 | $ | — | $ | — | $ | 57 | ||||||||||||
Six Months Ended June 30, 2021 | ||||||||||||||||||||
Commercial and industrial | $ | 73 | $ | — | $ | — | $ | 73 | ||||||||||||
Mortgage and real estate | 6 | — | — | 6 | ||||||||||||||||
Other | 1 | 1 | — | — | ||||||||||||||||
Total | $ | 80 | $ | 1 | $ | — | $ | 79 |
For the Nine Months Ended September 30, 2021 | ||||||||||||||||||||
In millions of dollars, except number of loans modified | Number of loans modified | Post- modification recorded investment(2)(3) | Deferred principal(4) | Contingent principal forgiveness(5) | Principal forgiveness(6) | Average interest rate reduction | ||||||||||||||
North America | ||||||||||||||||||||
Residential first mortgages | 942 | $ | 163 | $ | — | $ | — | $ | — | — | % | |||||||||
Home equity loans | 138 | 9 | — | — | — | — | ||||||||||||||
Credit cards | 129,129 | 639 | — | — | — | 17 | ||||||||||||||
Personal, small business and other | 855 | 12 | — | — | — | 3 | ||||||||||||||
Total(7) | 131,064 | $ | 823 | $ | — | $ | — | $ | — | |||||||||||
International | ||||||||||||||||||||
Residential first mortgages | 1,448 | $ | 74 | $ | — | $ | — | $ | — | — | % | |||||||||
Credit cards | 58,978 | 267 | — | — | 10 | 14 | ||||||||||||||
Personal, small business and other | 21,653 | 162 | — | — | 5 | 9 | ||||||||||||||
Total(7) | 82,079 | $ | 503 | $ | — | $ | — | $ | 15 | |||||||||||
For the Nine Months Ended September 30, 2020 | ||||||||||||||||||||
In millions of dollars, except number of loans modified | Number of loans modified | Post- modification recorded investment(2)(8) | Deferred principal(4) | Contingent principal forgiveness(5) | Principal forgiveness(6) | Average interest rate reduction | ||||||||||||||
North America | ||||||||||||||||||||
Residential first mortgages | 812 | $ | 137 | $ | — | $ | — | $ | — | — | % | |||||||||
Home equity loans | 227 | 22 | — | — | — | 1 | ||||||||||||||
Credit cards | 167,082 | 786 | — | — | — | 13 | ||||||||||||||
Personal, small business and other | 1,816 | 19 | — | — | — | 4 | ||||||||||||||
Total(7) | 169,937 | $ | 964 | $ | — | $ | — | $ | — | |||||||||||
International | ||||||||||||||||||||
Residential first mortgages | 1,874 | $ | 80 | $ | — | $ | — | $ | — | 4 | % | |||||||||
Credit cards | 65,738 | 289 | — | — | 7 | 16 | ||||||||||||||
Personal, small business and other | 31,590 | 234 | — | — | 6 | 10 | ||||||||||||||
Total(7) | 99,202 | $ | 603 | $ | — | $ | — | $ | 13 | |||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||
In millions of dollars | 2021 | 2020 | 2021 | 2020 | ||||||||||
North America | ||||||||||||||
Residential first mortgages | $ | 10 | $ | 24 | $ | 43 | $ | 59 | ||||||
Home equity loans | 1 | 6 | 8 | 12 | ||||||||||
Credit cards | 60 | 70 | 196 | 251 | ||||||||||
Personal, small business and other | 1 | 1 | 3 | 3 | ||||||||||
Total | $ | 72 | $ | 101 | $ | 250 | $ | 325 | ||||||
International | ||||||||||||||
Residential first mortgages | $ | 9 | $ | 6 | $ | 31 | $ | 17 | ||||||
Credit cards | 36 | 47 | 133 | 118 | ||||||||||
Personal, small business and other | 29 | 20 | 87 | 55 | ||||||||||
Total | $ | 74 | $ | 73 | $ | 251 | $ | 190 |
TDR loans that re-defaulted within one year of modification during the | TDR loans that re-defaulted within one year of modification during the | |||||||||||||||||||
In millions of dollars | TDR balances at June 30, 2022 | Three Months Ended June 30, 2022 | Six Months Ended June 30, 2022 | TDR balances at June 30, 2021 | Three Months Ended June 30, 2021 | Six Months Ended June 30, 2021 | ||||||||||||||
Commercial and industrial | $ | 148 | $ | — | $ | — | $ | 298 | $ | — | $ | — | ||||||||
Mortgage and real estate | 16 | — | — | 80 | — | — | ||||||||||||||
Other | 39 | — | — | 38 | — | — | ||||||||||||||
Total(1) | $ | 203 | $ | — | $ | — | $ | 416 | $ | — | $ | — |
Three Months Ended September 30, 2021 | Three Months Ended December 31, 2020 | Three Months Ended September 30, 2020 | |||||||||||||||||||||||||||
In millions of dollars | Credit cards | Mortgages(1) | Installment and other | Credit cards | Mortgages(1) | Installment and other | Credit cards | Mortgages(1) | Installment and other | ||||||||||||||||||||
Purchase price | $ | — | $ | 6 | $ | — | $ | — | $ | 12 | $ | — | $ | — | $ | 25 | $ | — | |||||||||||
Allowance for credit losses at acquisition date | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||
Discount or premium attributable to non-credit factors | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||
Par value (amortized cost basis) | $ | — | $ | 6 | $ | — | $ | — | $ | 12 | $ | — | $ | — | $ | 25 | $ | — |
In millions of dollars | September 30, 2021 | December 31, 2020 | ||||||
In North America offices(1) | ||||||||
Commercial and industrial | $ | 56,496 | $ | 57,731 | ||||
Financial institutions | 62,818 | 55,809 | ||||||
Mortgage and real estate(2) | 63,584 | 60,675 | ||||||
Installment and other | 26,922 | 26,744 | ||||||
Lease financing | 425 | 673 | ||||||
Total | $ | 210,245 | $ | 201,632 | ||||
In offices outside North America(1) | ||||||||
Commercial and industrial | $ | 105,671 | $ | 104,072 | ||||
Financial institutions | 33,501 | 32,334 | ||||||
Mortgage and real estate(2) | 10,685 | 11,371 | ||||||
Installment and other | 36,054 | 33,759 | ||||||
Lease financing | 47 | 65 | ||||||
Governments and official institutions | 4,311 | 3,811 | ||||||
Total | $ | 190,269 | $ | 185,412 | ||||
Corporate loans, net of unearned income(3) | $ | 400,514 | $ | 387,044 |
In millions of dollars | 30–89 days past due and accruing(1) | ≥ 90 days past due and accruing(1) | Total past due and accruing | Total non-accrual(2) | Total current(3) | Total loans(4) | ||||||||||||||
Commercial and industrial | $ | 721 | $ | 237 | $ | 958 | $ | 1,751 | $ | 153,276 | $ | 155,985 | ||||||||
Financial institutions | 398 | 174 | 572 | 53 | 95,195 | 95,820 | ||||||||||||||
Mortgage and real estate | 189 | 14 | 203 | 418 | 73,640 | 74,261 | ||||||||||||||
Lease financing | — | — | — | 18 | 454 | 472 | ||||||||||||||
Other | 168 | 55 | 223 | 160 | 66,447 | 66,830 | ||||||||||||||
Loans at fair value | 7,146 | |||||||||||||||||||
Total | $ | 1,476 | $ | 480 | $ | 1,956 | $ | 2,400 | $ | 389,012 | $ | 400,514 |
In millions of dollars | 30–89 days past due and accruing(1) | ≥ 90 days past due and accruing(1) | Total past due and accruing | Total non-accrual(2) | Total current(3) | Total loans(4) | ||||||||||||||
Commercial and industrial | $ | 400 | $ | 109 | $ | 509 | $ | 2,795 | $ | 153,036 | $ | 156,340 | ||||||||
Financial institutions | 668 | 65 | 733 | 92 | 86,864 | 87,689 | ||||||||||||||
Mortgage and real estate | 450 | 247 | 697 | 505 | 70,836 | 72,038 | ||||||||||||||
Lease financing | 62 | 12 | 74 | 24 | 640 | 738 | ||||||||||||||
Other | 112 | 19 | 131 | 111 | 63,157 | 63,399 | ||||||||||||||
Loans at fair value | 6,840 | |||||||||||||||||||
Total | $ | 1,692 | $ | 452 | $ | 2,144 | $ | 3,527 | $ | 374,533 | $ | 387,044 |
Recorded investment in loans(1) | Recorded investment in loans(1) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Term loans by year of origination | Revolving line of credit arrangements(2) | September 30, 2021 | Term loans by year of origination | Revolving line of credit arrangements(2) | June 30, 2022 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
In millions of dollars | In millions of dollars | 2021 | 2020 | 2019 | 2018 | 2017 | Prior | In millions of dollars | 2022 | 2021 | 2020 | 2019 | 2018 | Prior | Revolving line of credit arrangements(2) | June 30, 2022 | ||||||||||||||||||||||||||||||||||||||||||||||||
Investment grade(3) | Investment grade(3) | Investment grade(3) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial and industrial(4) | Commercial and industrial(4) | $ | 44,949 | $ | 6,818 | $ | 5,187 | $ | 4,218 | $ | 3,358 | $ | 9,826 | $ | 29,013 | $ | 103,369 | Commercial and industrial(4) | $ | 43,233 | $ | 7,890 | $ | 4,305 | $ | 4,009 | $ | 3,268 | $ | 9,500 | $ | 39,383 | $ | 111,588 | ||||||||||||||||||||||||||||||
Financial institutions(4) | Financial institutions(4) | 13,440 | 3,115 | 1,650 | 1,147 | 631 | 2,439 | 61,610 | 84,032 | Financial institutions(4) | 9,239 | 5,787 | 1,434 | 1,172 | 828 | 1,636 | 39,935 | 60,031 | ||||||||||||||||||||||||||||||||||||||||||||||
Mortgage and real estate | Mortgage and real estate | 3,357 | 5,754 | 5,970 | 3,759 | 2,122 | 3,312 | 1,525 | 25,799 | Mortgage and real estate | 2,363 | 3,323 | 3,881 | 3,256 | 1,640 | 2,148 | 277 | 16,888 | ||||||||||||||||||||||||||||||||||||||||||||||
Other(5) | Other(5) | 11,488 | 4,338 | 1,830 | 4,146 | 553 | 6,451 | 31,957 | 60,763 | Other(5) | 6,049 | 2,752 | 2,228 | 1,027 | 2,177 | 5,244 | 18,476 | 37,953 | ||||||||||||||||||||||||||||||||||||||||||||||
Total investment grade | Total investment grade | $ | 73,234 | $ | 20,025 | $ | 14,637 | $ | 13,270 | $ | 6,664 | $ | 22,028 | $ | 124,105 | $ | 273,963 | Total investment grade | $ | 60,884 | $ | 19,752 | $ | 11,848 | $ | 9,464 | $ | 7,913 | $ | 18,528 | $ | 98,071 | $ | 226,460 | ||||||||||||||||||||||||||||||
Non-investment grade(3) | Non-investment grade(3) | Non-investment grade(3) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrual | Accrual | Accrual | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial and industrial(4) | Commercial and industrial(4) | $ | 15,208 | $ | 3,298 | $ | 3,073 | $ | 2,883 | $ | 1,670 | $ | 4,009 | $ | 20,724 | $ | 50,865 | Commercial and industrial(4) | $ | 14,009 | $ | 5,880 | $ | 2,167 | $ | 1,601 | $ | 1,511 | $ | 4,752 | $ | 18,423 | $ | 48,343 | ||||||||||||||||||||||||||||||
Financial institutions(4) | Financial institutions(4) | 6,467 | 535 | 507 | 193 | 91 | 619 | 3,325 | 11,737 | Financial institutions(4) | 5,092 | 1,111 | 252 | 341 | 57 | 494 | 2,992 | 10,339 | ||||||||||||||||||||||||||||||||||||||||||||||
Mortgage and real estate | Mortgage and real estate | 1,661 | 1,339 | 2,009 | 1,469 | 857 | 1,027 | 610 | 8,972 | Mortgage and real estate | 196 | 853 | 519 | 860 | 995 | 994 | 379 | 4,796 | ||||||||||||||||||||||||||||||||||||||||||||||
Other(5) | Other(5) | 2,416 | 434 | 582 | 433 | 240 | 460 | 1,797 | 6,362 | Other(5) | 886 | 712 | 374 | 449 | 224 | 298 | 2,664 | 5,607 | ||||||||||||||||||||||||||||||||||||||||||||||
Non-accrual | Non-accrual | Non-accrual | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial and industrial(4) | Commercial and industrial(4) | 11 | 142 | 99 | 104 | 108 | 167 | 1,120 | 1,751 | Commercial and industrial(4) | 160 | 110 | 313 | 133 | 82 | 148 | 461 | 1,407 | ||||||||||||||||||||||||||||||||||||||||||||||
Financial institutions | Financial institutions | — | — | — | — | — | 5 | 46 | 51 | Financial institutions | 41 | 35 | — | — | — | — | 2 | 78 | ||||||||||||||||||||||||||||||||||||||||||||||
Mortgage and real estate | Mortgage and real estate | 16 | 12 | 4 | 81 | 11 | 26 | 267 | 417 | Mortgage and real estate | 6 | 1 | 1 | — | — | 23 | 46 | 77 | ||||||||||||||||||||||||||||||||||||||||||||||
Other(5) | Other(5) | 21 | 11 | 19 | 19 | 26 | 20 | 61 | 177 | Other(5) | 30 | 5 | 3 | 9 | 17 | 12 | 17 | 93 | ||||||||||||||||||||||||||||||||||||||||||||||
Total non-investment grade | Total non-investment grade | $ | 25,800 | $ | 5,771 | $ | 6,293 | $ | 5,182 | $ | 3,003 | $ | 6,333 | $ | 27,950 | $ | 80,332 | Total non-investment grade | $ | 20,420 | $ | 8,707 | $ | 3,629 | $ | 3,393 | $ | 2,886 | $ | 6,721 | $ | 24,984 | $ | 70,740 | ||||||||||||||||||||||||||||||
Non-rated private bank loans managed on a delinquency basis(3)(6) | $ | 8,007 | $ | 9,233 | $ | 6,277 | $ | 3,074 | $ | 3,087 | $ | 9,395 | $ | — | $ | 39,073 | ||||||||||||||||||||||||||||||||||||||||||||||||
Loans at fair value(7) | 7,146 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loans at fair value(6) | Loans at fair value(6) | $ | 4,528 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Corporate loans, net of unearned income | Corporate loans, net of unearned income | $ | 107,041 | $ | 35,029 | $ | 27,207 | $ | 21,526 | $ | 12,754 | $ | 37,756 | $ | 152,055 | $ | 400,514 | Corporate loans, net of unearned income | $ | 81,304 | $ | 28,459 | $ | 15,477 | $ | 12,857 | $ | 10,799 | $ | 25,249 | $ | 123,055 | $ | 301,728 |
Recorded investment in loans(1) | Recorded investment in loans(1) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Term loans by year of origination | Revolving line of credit arrangements(2) | December 31, 2020 | Term loans by year of origination | Revolving line of credit arrangements(2) | December 31, 2021 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
In millions of dollars | In millions of dollars | 2020 | 2019 | 2018 | 2017 | 2016 | Prior | In millions of dollars | 2021 | 2020 | 2019 | 2018 | 2017 | Prior | Revolving line of credit arrangements(2) | December 31, 2021 | ||||||||||||||||||||||||||||||||||||||||||||||||
Investment grade(3) | Investment grade(3) | Investment grade(3) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial and industrial(4) | Commercial and industrial(4) | $ | 38,398 | $ | 7,607 | $ | 5,929 | $ | 3,909 | $ | 2,094 | $ | 8,670 | $ | 25,819 | $ | 92,426 | Commercial and industrial(4) | $ | 42,422 | $ | 5,529 | $ | 4,642 | $ | 3,757 | $ | 2,911 | $ | 8,392 | $ | 30,588 | $ | 98,241 | ||||||||||||||||||||||||||||||
Financial institutions(4) | Financial institutions(4) | 10,560 | 2,964 | 2,106 | 782 | 681 | 2,030 | 56,239 | 75,362 | Financial institutions(4) | 12,862 | 1,678 | 1,183 | 1,038 | 419 | 1,354 | 43,630 | 62,164 | ||||||||||||||||||||||||||||||||||||||||||||||
Mortgage and real estate | Mortgage and real estate | 6,793 | 6,714 | 5,174 | 2,568 | 1,212 | 1,719 | 1,557 | 25,737 | Mortgage and real estate | 2,423 | 3,660 | 3,332 | 2,015 | 1,212 | 1,288 | 141 | 14,071 | ||||||||||||||||||||||||||||||||||||||||||||||
Other(5) | Other(5) | 10,874 | 3,566 | 4,597 | 952 | 780 | 5,290 | 31,696 | 57,755 | Other(5) | 9,037 | 3,099 | 1,160 | 2,789 | 330 | 4,601 | 18,727 | 39,743 | ||||||||||||||||||||||||||||||||||||||||||||||
Total investment grade | Total investment grade | $ | 66,625 | $ | 20,851 | $ | 17,806 | $ | 8,211 | $ | 4,767 | $ | 17,709 | $ | 115,311 | $ | 251,280 | Total investment grade | $ | 66,744 | $ | 13,966 | $ | 10,317 | $ | 9,599 | $ | 4,872 | $ | 15,635 | $ | 93,086 | $ | 214,219 | ||||||||||||||||||||||||||||||
Non-investment grade(3) | Non-investment grade(3) | Non-investment grade(3) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrual | Accrual | Accrual | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial and industrial(4) | Commercial and industrial(4) | $ | 19,683 | $ | 4,794 | $ | 4,645 | $ | 2,883 | $ | 1,182 | $ | 4,533 | $ | 23,400 | $ | 61,120 | Commercial and industrial(4) | $ | 16,783 | $ | 2,281 | $ | 2,343 | $ | 2,024 | $ | 1,412 | $ | 3,981 | $ | 18,676 | $ | 47,500 | ||||||||||||||||||||||||||||||
Financial institutions(4) | Financial institutions(4) | 7,413 | 700 | 654 | 274 | 141 | 197 | 2,855 | 12,234 | Financial institutions(4) | 4,325 | 347 | 567 | 101 | 71 | 511 | 3,679 | 9,601 | ||||||||||||||||||||||||||||||||||||||||||||||
Mortgage and real estate | Mortgage and real estate | 1,882 | 1,919 | 2,058 | 1,457 | 697 | 837 | 551 | 9,401 | Mortgage and real estate | 1,275 | 869 | 1,228 | 1,018 | 493 | 586 | 615 | 6,084 | ||||||||||||||||||||||||||||||||||||||||||||||
Other(5) | Other(5) | 1,407 | 918 | 725 | 370 | 186 | 657 | 1,986 | 6,249 | Other(5) | 1,339 | 349 | 554 | 364 | 119 | 245 | 3,236 | 6,206 | ||||||||||||||||||||||||||||||||||||||||||||||
Non-accrual | Non-accrual | Non-accrual | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial and industrial(4) | Commercial and industrial(4) | 260 | 203 | 192 | 143 | 57 | 223 | 1,717 | 2,795 | Commercial and industrial(4) | 53 | 119 | 64 | 104 | 94 | 117 | 712 | 1,263 | ||||||||||||||||||||||||||||||||||||||||||||||
Financial institutions | Financial institutions | 1 | — | — | — | — | — | 91 | 92 | Financial institutions | — | — | — | — | — | — | 2 | 2 | ||||||||||||||||||||||||||||||||||||||||||||||
Mortgage and real estate | Mortgage and real estate | 13 | 4 | 3 | 18 | 8 | 32 | 427 | 505 | Mortgage and real estate | 11 | 8 | 2 | 49 | 10 | 25 | 31 | 136 | ||||||||||||||||||||||||||||||||||||||||||||||
Other(5) | Other(5) | 15 | 3 | 12 | 29 | 2 | 65 | 9 | 135 | Other(5) | 19 | 5 | 19 | 19 | — | 90 | — | 152 | ||||||||||||||||||||||||||||||||||||||||||||||
Total non-investment grade | Total non-investment grade | $ | 30,674 | $ | 8,541 | $ | 8,289 | $ | 5,174 | $ | 2,273 | $ | 6,544 | $ | 31,036 | $ | 92,531 | Total non-investment grade | $ | 23,805 | $ | 3,978 | $ | 4,777 | $ | 3,679 | $ | 2,199 | $ | 5,555 | $ | 26,951 | $ | 70,944 | ||||||||||||||||||||||||||||||
Non-rated private bank loans managed on a delinquency basis(3)(6) | $ | 9,823 | $ | 7,121 | $ | 3,533 | $ | 3,674 | $ | 4,300 | $ | 7,942 | $ | — | $ | 36,393 | ||||||||||||||||||||||||||||||||||||||||||||||||
Loans at fair value(7) | 6,840 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loans at fair value(6) | Loans at fair value(6) | $ | 6,070 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Corporate loans, net of unearned income | Corporate loans, net of unearned income | $ | 107,122 | $ | 36,513 | $ | 29,628 | $ | 17,059 | $ | 11,340 | $ | 32,195 | $ | 146,347 | $ | 387,044 | Corporate loans, net of unearned income | $ | 90,549 | $ | 17,944 | $ | 15,094 | $ | 13,278 | $ | 7,071 | $ | 21,190 | $ | 120,037 | $ | 291,233 |
September 30, 2021 | Three Months Ended September 30, 2021 | Nine Months Ended September 30, 2021 | ||||||||||||||||||
In millions of dollars | Recorded investment(1) | Unpaid principal balance | Related specific allowance | Average carrying value(2) | Interest income recognized | Interest income recognized(3) | ||||||||||||||
Non-accrual corporate loans | ||||||||||||||||||||
Commercial and industrial | $ | 1,751 | $ | 2,331 | $ | 293 | $ | 2,222 | $ | 6 | $ | 31 | ||||||||
Financial institutions | 53 | 120 | 4 | 55 | — | — | ||||||||||||||
Mortgage and real estate | 418 | 668 | 16 | 469 | — | — | ||||||||||||||
Lease financing | 18 | 19 | — | 23 | — | — | ||||||||||||||
Other | 160 | 251 | 2 | 133 | 2 | 8 | ||||||||||||||
Total non-accrual corporate loans | $ | 2,400 | $ | 3,389 | $ | 315 | $ | 2,902 | $ | 8 | $ | 39 |
December 31, 2020 | June 30, 2022 | Three Months Ended June 30, 2022 | Six Months Ended June 30, 2022 | |||||||||||||||||||||||||||||||||||||
In millions of dollars | In millions of dollars | Recorded investment(1) | Unpaid principal balance | Related specific allowance | Average carrying value(2) | In millions of dollars | Recorded investment(1) | Unpaid principal balance | Related specific allowance | Average carrying value(2) | Interest income recognized | Interest income recognized(3) | ||||||||||||||||||||||||||||
Non-accrual corporate loans | Non-accrual corporate loans | Non-accrual corporate loans | ||||||||||||||||||||||||||||||||||||||
Commercial and industrial | Commercial and industrial | $ | 2,795 | $ | 3,664 | $ | 442 | $ | 2,649 | Commercial and industrial | $ | 1,407 | $ | 2,042 | $ | 518 | $ | 1,485 | $ | 10 | $ | 18 | ||||||||||||||||||
Financial institutions | Financial institutions | 92 | 181 | 17 | 132 | Financial institutions | 78 | 137 | 35 | 36 | — | — | ||||||||||||||||||||||||||||
Mortgage and real estate | Mortgage and real estate | 505 | 803 | 38 | 413 | Mortgage and real estate | 77 | 77 | 1 | 129 | — | 2 | ||||||||||||||||||||||||||||
Lease financing | Lease financing | 24 | 24 | — | 34 | Lease financing | 11 | 11 | — | 15 | — | — | ||||||||||||||||||||||||||||
Other | Other | 111 | 235 | 18 | 174 | Other | 82 | 134 | 6 | 134 | 1 | 3 | ||||||||||||||||||||||||||||
Total non-accrual corporate loans | Total non-accrual corporate loans | $ | 3,527 | $ | 4,907 | $ | 515 | $ | 3,402 | Total non-accrual corporate loans | $ | 1,655 | $ | 2,401 | $ | 560 | $ | 1,799 | $ | 11 | $ | 23 |
September 30, 2021 | December 31, 2020 | December 31, 2021 | ||||||||||||||||||||||||||||||||
In millions of dollars | In millions of dollars | Recorded investment(1) | Related specific allowance | Recorded investment(1) | Related specific allowance | In millions of dollars | Recorded investment(1) | Unpaid principal balance | Related specific allowance | Average carrying value(2) | ||||||||||||||||||||||||
Non-accrual corporate loans with specific allowances | ||||||||||||||||||||||||||||||||||
Commercial and industrial | $ | 801 | $ | 293 | $ | 1,523 | $ | 442 | ||||||||||||||||||||||||||
Financial institutions | 27 | 4 | 90 | 17 | ||||||||||||||||||||||||||||||
Mortgage and real estate | 229 | 16 | 246 | 38 | ||||||||||||||||||||||||||||||
Other | 9 | 2 | 68 | 18 | ||||||||||||||||||||||||||||||
Total non-accrual corporate loans with specific allowances | $ | 1,066 | $ | 315 | $ | 1,927 | $ | 515 | ||||||||||||||||||||||||||
Non-accrual corporate loans without specific allowances | ||||||||||||||||||||||||||||||||||
Non-accrual corporate loans | Non-accrual corporate loans | |||||||||||||||||||||||||||||||||
Commercial and industrial | Commercial and industrial | $ | 950 | $ | 1,272 | Commercial and industrial | $ | 1,263 | $ | 1,858 | $ | 198 | $ | 1,839 | ||||||||||||||||||||
Financial institutions | Financial institutions | 26 | 2 | Financial institutions | 2 | 55 | — | 4 | ||||||||||||||||||||||||||
Mortgage and real estate | Mortgage and real estate | 189 | 259 | Mortgage and real estate | 136 | 285 | 10 | 163 | ||||||||||||||||||||||||||
Lease financing | Lease financing | 18 | 24 | Lease financing | 14 | 14 | — | 21 | ||||||||||||||||||||||||||
Other | Other | 151 | 43 | Other | 138 | 165 | 4 | 134 | ||||||||||||||||||||||||||
Total non-accrual corporate loans without specific allowances | $ | 1,334 | N/A | $ | 1,600 | N/A | ||||||||||||||||||||||||||||
Total non-accrual corporate loans | Total non-accrual corporate loans | $ | 1,553 | $ | 2,377 | $ | 212 | $ | 2,161 |
June 30, 2022 | December 31, 2021 | |||||||||||||
In millions of dollars | Recorded investment(1) | Related specific allowance | Recorded investment(1) | Related specific allowance | ||||||||||
Non-accrual corporate loans with specific allowances | ||||||||||||||
Commercial and industrial | $ | 1,052 | $ | 518 | $ | 637 | $ | 198 | ||||||
Financial institutions | 35 | 35 | — | — | ||||||||||
Mortgage and real estate | 9 | 1 | 29 | 10 | ||||||||||
Other | 20 | 6 | 37 | 4 | ||||||||||
Total non-accrual corporate loans with specific allowances | $ | 1,116 | $ | 560 | $ | 703 | $ | 212 | ||||||
Non-accrual corporate loans without specific allowances | ||||||||||||||
Commercial and industrial | $ | 355 | N/A | $ | 626 | N/A | ||||||||
Financial institutions | 43 | N/A | 2 | N/A | ||||||||||
Mortgage and real estate | 68 | N/A | 107 | N/A | ||||||||||
Lease financing | 11 | N/A | 14 | N/A | ||||||||||
Other | 62 | N/A | 101 | N/A | ||||||||||
Total non-accrual corporate loans without specific allowances | $ | 539 | N/A | $ | 850 | N/A |
In millions of dollars | In millions of dollars | Carrying value of TDRs modified during the period | TDRs involving changes in the amount and/or timing of principal payments(2) | TDRs involving changes in the amount and/or timing of interest payments(3) | TDRs involving changes in the amount and/or timing of both principal and interest payments | In millions of dollars | Carrying value of TDRs modified during the period | TDRs involving changes in the amount and/or timing of principal payments(2) | TDRs involving changes in the amount and/or timing of interest payments(3) | TDRs involving changes in the amount and/or timing of both principal and interest payments | ||||||||||||||||||||||||||||||
Three Months Ended September 30, 2021 | ||||||||||||||||||||||||||||||||||||||||
Three Months Ended June 30, 2022 | Three Months Ended June 30, 2022 | |||||||||||||||||||||||||||||||||||||||
Commercial and industrial | Commercial and industrial | $ | 2 | $ | — | $ | — | $ | 2 | Commercial and industrial | $ | 3 | $ | — | $ | — | $ | 3 | ||||||||||||||||||||||
Mortgage and real estate | 1 | — | — | 1 | ||||||||||||||||||||||||||||||||||||
Other | Other | 4 | — | — | 4 | Other | 23 | — | — | 23 | ||||||||||||||||||||||||||||||
Total | Total | $ | 7 | $ | — | $ | — | $ | 7 | Total | $ | 26 | $ | — | $ | — | $ | 26 | ||||||||||||||||||||||
Nine Months Ended September 30, 2021 | ||||||||||||||||||||||||||||||||||||||||
Six Months Ended June 30, 2022 | Six Months Ended June 30, 2022 | |||||||||||||||||||||||||||||||||||||||
Commercial and industrial | Commercial and industrial | $ | 75 | $ | — | $ | — | $ | 75 | Commercial and industrial | $ | 15 | $ | — | $ | — | $ | 15 | ||||||||||||||||||||||
Mortgage and real estate | 7 | — | — | 7 | ||||||||||||||||||||||||||||||||||||
Other | Other | 5 | 1 | — | 4 | Other | 23 | 1 | — | 22 | ||||||||||||||||||||||||||||||
Total | Total | $ | 87 | $ | 1 | $ | — | $ | 86 | Total | $ | 38 | $ | 1 | $ | — | $ | 37 |
In millions of dollars | In millions of dollars | Carrying value of TDRs modified during the period | TDRs involving changes in the amount and/or timing of principal payments(2) | TDRs involving changes in the amount and/or timing of interest payments(3) | TDRs involving changes in the amount and/or timing of both principal and interest payments | In millions of dollars | Carrying value of TDRs modified during the period | TDRs involving changes in the amount and/or timing of principal payments(2) | TDRs involving changes in the amount and/or timing of interest payments(3) | TDRs involving changes in the amount and/or timing of both principal and interest payments | ||||||||||||||||||||||||||||||
Three Months Ended September 30, 2020 | ||||||||||||||||||||||||||||||||||||||||
Three Months Ended June 30, 2021 | Three Months Ended June 30, 2021 | |||||||||||||||||||||||||||||||||||||||
Commercial and industrial | Commercial and industrial | $ | 52 | $ | — | $ | — | $ | 52 | Commercial and industrial | $ | 52 | $ | — | $ | — | $ | 52 | ||||||||||||||||||||||
Mortgage and real estate | Mortgage and real estate | 8 | — | — | 8 | Mortgage and real estate | 5 | — | — | 5 | ||||||||||||||||||||||||||||||
Other | Other | 1 | 1 | — | — | Other | — | — | — | — | ||||||||||||||||||||||||||||||
Total | Total | $ | 57 | $ | — | $ | — | $ | 57 | |||||||||||||||||||||||||||||||
Six Months Ended June 30, 2021 | Six Months Ended June 30, 2021 | |||||||||||||||||||||||||||||||||||||||
Commercial and industrial | Commercial and industrial | $ | 73 | $ | — | $ | — | $ | 73 | |||||||||||||||||||||||||||||||
Total | $ | 61 | $ | 1 | $ | — | $ | 60 | ||||||||||||||||||||||||||||||||
Nine Months Ended September 30, 2020 | ||||||||||||||||||||||||||||||||||||||||
Commercial and industrial | $ | 200 | $ | — | $ | — | $ | 200 | ||||||||||||||||||||||||||||||||
Mortgage and real estate | Mortgage and real estate | 16 | — | — | 16 | Mortgage and real estate | 6 | — | — | 6 | ||||||||||||||||||||||||||||||
Other | Other | 5 | 5 | — | — | Other | 1 | 1 | — | — | ||||||||||||||||||||||||||||||
Total | Total | $ | 221 | $ | 5 | $ | — | $ | 216 | Total | $ | 80 | $ | 1 | $ | — | $ | 79 |
TDR loans that re-defaulted within one year of modification during the | TDR loans that re-defaulted within one year of modification during the | TDR loans that re-defaulted within one year of modification during the | TDR loans that re-defaulted within one year of modification during the | |||||||||||||||||||||||||||||||||||||
In millions of dollars | In millions of dollars | TDR balances at September 30, 2021 | Three Months Ended September 30, 2021 | Nine Months Ended September 30, 2021 | TDR balances at September 30, 2020 | Three Months Ended September 30, 2020 | Nine Months Ended September 30, 2020 | In millions of dollars | TDR balances at June 30, 2022 | Three Months Ended June 30, 2022 | Six Months Ended June 30, 2022 | TDR balances at June 30, 2021 | Three Months Ended June 30, 2021 | Six Months Ended June 30, 2021 | ||||||||||||||||||||||||||
Commercial and industrial | Commercial and industrial | $ | 252 | $ | — | $ | — | $ | 390 | $ | — | $ | — | Commercial and industrial | $ | 148 | $ | — | $ | — | $ | 298 | $ | — | $ | — | ||||||||||||||
Mortgage and real estate | Mortgage and real estate | 65 | — | — | 98 | — | — | Mortgage and real estate | 16 | — | — | 80 | — | — | ||||||||||||||||||||||||||
Other | Other | 51 | — | — | 22 | — | — | Other | 39 | — | — | 38 | — | — | ||||||||||||||||||||||||||
Total(1) | Total(1) | $ | 368 | $ | — | $ | — | $ | 510 | $ | — | $ | — | Total(1) | $ | 203 | $ | — | $ | — | $ | 416 | $ | — | $ | — |
In millions of dollars at June 30, 2022 | Total current(1)(2) | 30–89 days past due(3)(4) | ≥ 90 days past due(3)(4) | Past due government guaranteed(5) | Total loans | Non-accrual loans for which there is no ACLL | Non-accrual loans for which there is an ACLL | Total non-accrual | 90 days past due and accruing | ||||||||||||||||||||
In North America offices(6) | |||||||||||||||||||||||||||||
Residential first mortgages(7) | $ | 87,675 | $ | 341 | $ | 363 | $ | 283 | $ | 88,662 | $ | 83 | $ | 467 | $ | 550 | $ | 179 | |||||||||||
Home equity loans(8)(9) | 4,892 | 29 | 153 | — | 5,074 | 57 | 183 | 240 | — | ||||||||||||||||||||
Credit cards | 135,454 | 1,009 | 949 | — | 137,412 | — | — | — | 949 | ||||||||||||||||||||
Personal, small business and other(10) | 39,320 | 72 | 25 | 19 | 39,436 | 2 | 14 | 16 | 26 | ||||||||||||||||||||
Total | $ | 267,341 | $ | 1,451 | $ | 1,490 | $ | 302 | $ | 270,584 | $ | 142 | $ | 664 | $ | 806 | $ | 1,154 | |||||||||||
In offices outside North America(6) | |||||||||||||||||||||||||||||
Residential mortgages(7)(9) | $ | 27,988 | $ | 50 | $ | 91 | $ | — | $ | 28,129 | $ | — | $ | 290 | $ | 290 | $ | 10 | |||||||||||
Credit cards | 11,610 | 123 | 125 | — | 11,858 | — | 98 | 98 | 52 | ||||||||||||||||||||
Personal, small business and other(10) | 44,860 | 104 | 70 | — | 45,034 | — | 186 | 186 | — | ||||||||||||||||||||
Total | $ | 84,458 | $ | 277 | $ | 286 | $ | — | $ | 85,021 | $ | — | $ | 574 | $ | 574 | $ | 62 | |||||||||||
Total Citigroup(11) | $ | 351,799 | $ | 1,728 | $ | 1,776 | $ | 302 | $ | 355,605 | $ | 142 | $ | 1,238 | $ | 1,380 | $ | 1,216 |
In millions of dollars at December 31, 2021 | Total current(1)(2) | 30–89 days past due(3)(4)(5) | ≥ 90 days past due(3)(4)(5) | Past due government guaranteed(5)(6) | Total loans | Non-accrual loans for which there is no ACLL | Non-accrual loans for which there is an ACLL | Total non-accrual | 90 days past due and accruing | ||||||||||||||||||||
In North America offices(7) | |||||||||||||||||||||||||||||
Residential first mortgages(8) | $ | 82,087 | $ | 381 | $ | 499 | $ | 394 | $ | 83,361 | $ | 134 | $ | 559 | $ | 693 | $ | 282 | |||||||||||
Home equity loans(9)(10) | 5,546 | 43 | 156 | — | 5,745 | 64 | 221 | 285 | — | ||||||||||||||||||||
Credit cards | 132,050 | 947 | 871 | — | 133,868 | — | — | — | 871 | ||||||||||||||||||||
Personal, small business and other(11) | 40,533 | 126 | 16 | 38 | 40,713 | 2 | 70 | 72 | 30 | ||||||||||||||||||||
Total | $ | 260,216 | $ | 1,497 | $ | 1,542 | $ | 432 | $ | 263,687 | $ | 200 | $ | 850 | $ | 1,050 | $ | 1,183 | |||||||||||
In offices outside North America(7) | |||||||||||||||||||||||||||||
Residential mortgages(8) | $ | 37,566 | $ | 165 | $ | 158 | $ | — | $ | 37,889 | $ | — | $ | 409 | $ | 409 | $ | 10 | |||||||||||
Credit cards | 17,428 | 192 | 188 | — | 17,808 | — | 140 | 140 | 133 | ||||||||||||||||||||
Personal, small business and other(11) | 56,930 | 145 | 75 | — | 57,150 | — | 227 | 227 | — | ||||||||||||||||||||
Total | $ | 111,924 | $ | 502 | $ | 421 | $ | — | $ | 112,847 | $ | — | $ | 776 | $ | 776 | $ | 143 | |||||||||||
Total Citigroup(12) | $ | 372,140 | $ | 1,999 | $ | 1,963 | $ | 432 | $ | 376,534 | $ | 200 | $ | 1,626 | $ | 1,826 | $ | 1,326 |
In millions of dollars | Three Months Ended June 30, 2022 | Three Months Ended June 30, 2021 | Six Months Ended June 30, 2022 | Six Months Ended June 30, 2021 | ||||||||||
In North America offices(1) | ||||||||||||||
Residential first mortgages | $ | 3 | $ | 3 | $ | 6 | $ | 7 | ||||||
Home equity loans | 1 | 2 | 2 | 4 | ||||||||||
Credit cards | — | — | — | — | ||||||||||
Personal, small business and other | 1 | — | 1 | — | ||||||||||
Total | $ | 5 | $ | 5 | $ | 9 | $ | 11 | ||||||
In offices outside North America(1) | ||||||||||||||
Residential mortgages | $ | — | $ | — | $ | — | $ | — | ||||||
Credit cards | — | — | — | — | ||||||||||
Personal, small business and other | — | — | — | — | ||||||||||
Total | $ | — | $ | — | $ | — | $ | — | ||||||
Total Citigroup | $ | 5 | $ | 5 | $ | 9 | $ | 11 |
FICO score distribution—U.S. portfolio(1)(2) | June 30, 2022 | |||||||||||||||||||
In millions of dollars | Less than 680 | 680 to 760 | Greater than 760 | Classifiably managed(3) | FICO not available(4) | Total loans | ||||||||||||||
Residential first mortgages | ||||||||||||||||||||
2022 | $ | 293 | $ | 3,639 | $ | 7,637 | ||||||||||||||
2021 | 728 | 6,387 | 12,488 | |||||||||||||||||
2020 | 485 | 4,978 | 10,931 | |||||||||||||||||
2019 | 322 | 2,772 | 5,504 | |||||||||||||||||
2018 | 375 | 1,067 | 2,004 | |||||||||||||||||
Prior | 2,175 | 7,012 | 13,549 | |||||||||||||||||
Total residential first mortgages | $ | 4,378 | $ | 25,855 | $ | 52,113 | $ | — | $ | 6,316 | $ | 88,662 | ||||||||
Home equity loans (pre-reset) | $ | 240 | $ | 965 | $ | 1,344 | ||||||||||||||
Home equity loans (post-reset) | 541 | 934 | 1,010 | |||||||||||||||||
Total home equity loans | $ | 781 | $ | 1,899 | $ | 2,354 | $ | — | $ | 40 | $ | 5,074 | ||||||||
Credit cards(5) | $ | 24,233 | $ | 53,858 | $ | 56,987 | $ | — | $ | 1,776 | $ | 136,854 | ||||||||
Personal, small business and other | ||||||||||||||||||||
2022 | $ | 65 | $ | 185 | $ | 302 | ||||||||||||||
2021 | 94 | 221 | 308 | |||||||||||||||||
2020 | 18 | 29 | 44 | |||||||||||||||||
2019 | 30 | 36 | 45 | |||||||||||||||||
2018 | 19 | 20 | 21 | |||||||||||||||||
Prior | 121 | 188 | 158 | |||||||||||||||||
Total personal, small business and other(6) | $ | 347 | $ | 679 | $ | 878 | $ | 33,935 | $ | 2,618 | $ | 38,457 | ||||||||
Total | $ | 29,739 | $ | 82,291 | $ | 112,332 | $ | 33,935 | $ | 10,750 | $ | 269,047 |
FICO score distribution—U.S. portfolio(1)(2) | December 31, 2021 | |||||||||||||||||||
In millions of dollars | Less than 680 | 680 to 760 | Greater than 760 | Classifiably managed(3) | FICO not available(4) | Total loans | ||||||||||||||
Residential first mortgages | ||||||||||||||||||||
2021 | $ | 626 | $ | 6,729 | $ | 12,349 | ||||||||||||||
2020 | 508 | 5,102 | 12,153 | |||||||||||||||||
2019 | 373 | 3,074 | 6,167 | |||||||||||||||||
2018 | 394 | 1,180 | 2,216 | |||||||||||||||||
2017 | 343 | 1,455 | 2,568 | |||||||||||||||||
Prior | 2,053 | 6,540 | 12,586 | |||||||||||||||||
Total residential first mortgages | $ | 4,297 | $ | 24,080 | $ | 48,039 | $ | — | $ | 6,945 | $ | 83,361 | ||||||||
Home equity loans (pre-reset) | $ | 263 | $ | 1,030 | $ | 1,539 | ||||||||||||||
Home equity loans (post-reset) | 639 | 1,047 | 1,160 | |||||||||||||||||
Total home equity loans | $ | 902 | $ | 2,077 | $ | 2,699 | $ | — | $ | 67 | $ | 5,745 | ||||||||
Credit cards(5) | $ | 23,115 | $ | 52,907 | $ | 55,137 | $ | — | $ | 2,192 | $ | 133,351 | ||||||||
Personal, small business and other | ||||||||||||||||||||
2021 | $ | 59 | $ | 201 | $ | 319 | ||||||||||||||
2020 | 22 | 41 | 64 | |||||||||||||||||
2019 | 42 | 53 | 68 | |||||||||||||||||
2018 | 34 | 35 | 37 | |||||||||||||||||
2017 | 7 | 8 | 9 | |||||||||||||||||
Prior | 120 | 179 | 143 | |||||||||||||||||
Total personal, small business and other(6) | $ | 284 | $ | 517 | $ | 640 | $ | 35,324 | $ | 3,041 | $ | 39,806 | ||||||||
Total | $ | 28,598 | $ | 79,581 | $ | 106,515 | $ | 35,324 | $ | 12,245 | $ | 262,263 |
LTV distribution—U.S. portfolio | June 30, 2022 | ||||||||||||||||
In millions of dollars | Less than or equal to 80% | > 80% but less than or equal to 100% | Greater than 100% | LTV not available | Total | ||||||||||||
Residential first mortgages | |||||||||||||||||
2022 | $ | 9,773 | $ | 2,176 | $ | 13 | |||||||||||
2021 | 19,616 | 1,078 | 31 | ||||||||||||||
2020 | 17,437 | 205 | — | ||||||||||||||
2019 | 9,142 | 129 | 29 | ||||||||||||||
2018 | 3,777 | 92 | 10 | ||||||||||||||
Prior | 23,993 | 198 | 85 | ||||||||||||||
Total residential first mortgages(1) | $ | 83,738 | $ | 3,878 | $ | 168 | $ | 878 | $ | 88,662 | |||||||
Home equity loans (pre-reset) | $ | 2,389 | $ | 32 | $ | 63 | |||||||||||
Home equity loans (post-reset) | 2,415 | 28 | 31 | ||||||||||||||
Total home equity loans | $ | 4,804 | $ | 60 | $ | 94 | $ | 116 | $ | 5,074 | |||||||
Total | $ | 88,542 | $ | 3,938 | $ | 262 | $ | 994 | $ | 93,736 |
LTV distribution—U.S. portfolio | December 31, 2021 | ||||||||||||||||
In millions of dollars | Less than or equal to 80% | > 80% but less than or equal to 100% | Greater than 100% | LTV not available | Total | ||||||||||||
Residential first mortgages | |||||||||||||||||
2021 | $ | 18,107 | $ | 2,723 | $ | 34 | |||||||||||
2020 | 18,715 | 446 | — | ||||||||||||||
2019 | 10,047 | 269 | 29 | ||||||||||||||
2018 | 4,117 | 136 | 11 | ||||||||||||||
2017 | 4,804 | 103 | 4 | ||||||||||||||
Prior | 22,161 | 128 | 14 | ||||||||||||||
Total residential first mortgages(1) | $ | 77,951 | $ | 3,805 | $ | 92 | $ | 1,513 | $ | 83,361 | |||||||
Home equity loans (pre-reset) | $ | 2,637 | $ | 46 | $ | 69 | |||||||||||
Home equity loans (post-reset) | 2,751 | 52 | 32 | ||||||||||||||
Total home equity loans | $ | 5,388 | $ | 98 | $ | 101 | $ | 158 | $ | 5,745 | |||||||
Total | $ | 83,339 | $ | 3,903 | $ | 193 | $ | 1,671 | $ | 89,106 |
LTV distribution—outside of U.S. portfolio(1) | June 30, 2022 | ||||||||||||||||
In millions of dollars | Less than or equal to 80% | > 80% but less than or equal to 100% | Greater than 100% | LTV not available | Total | ||||||||||||
Residential mortgages | |||||||||||||||||
2022 | $ | 1,684 | $ | 431 | $ | 21 | |||||||||||
2021 | 4,685 | 913 | 3 | ||||||||||||||
2020 | 4,189 | 267 | — | ||||||||||||||
2019 | 3,537 | 71 | 1 | ||||||||||||||
2018 | 2,448 | 7 | — | ||||||||||||||
Prior | 9,791 | 40 | 12 | ||||||||||||||
Total | $ | 26,334 | $ | 1,729 | $ | 37 | $ | 29 | $ | 28,129 |
LTV distribution—outside of U.S. portfolio(1) | December 31, 2021 | ||||||||||||||||
In millions of dollars | Less than or equal to 80% | > 80% but less than or equal to 100% | Greater than 100% | LTV not available | Total | ||||||||||||
Residential mortgages | |||||||||||||||||
2021 | $ | 6,334 | $ | 989 | $ | — | |||||||||||
2020 | 5,996 | 292 | — | ||||||||||||||
2019 | 5,293 | 116 | 1 | ||||||||||||||
2018 | 3,729 | 32 | — | ||||||||||||||
2017 | 2,739 | 38 | — | ||||||||||||||
Prior | 12,190 | 102 | 14 | ||||||||||||||
Total | $ | 36,281 | $ | 1,569 | $ | 15 | $ | 24 | $ | 37,889 |
Delinquency-managed loans and ratios | |||||||||||||||||||||||
In millions of dollars at June 30, 2022 | Total loans outside of North America(1) | Classifiably managed loans(2) | Delinquency-managed loans | 30–89 days past due ratio | ≥ 90 days past due ratio | 2Q22 NCL ratio | 2Q21 NCL ratio | ||||||||||||||||
Residential mortgages(3) | $ | 28,129 | $ | — | $ | 28,129 | 0.18 | % | 0.32 | % | 0.04 | % | 0.10 | % | |||||||||
Credit cards | 11,858 | — | 11,858 | 1.04 | 1.05 | 3.08 | 5.09 | ||||||||||||||||
Personal, small business and other(4) | 45,034 | 20,889 | 24,145 | 0.43 | 0.29 | 0.55 | 1.04 | ||||||||||||||||
Total | $ | 85,021 | $ | 20,889 | $ | 64,132 | 0.43 | % | 0.45 | % | 0.72 | % | 1.39 | % | |||||||||
Delinquency-managed loans and ratios | |||||||||||||||||||||||
In millions of dollars at December 31, 2021 | Total loans outside of North America(1) | Classifiably managed loans(2) | Delinquency-managed loans | 30–89 days past due ratio | ≥ 90 days past due ratio | ||||||||||||||||||
Residential mortgages(3) | $ | 37,889 | $ | — | $ | 37,889 | 0.44 | % | 0.42 | % | |||||||||||||
Credit cards | 17,808 | — | 17,808 | 1.08 | 1.06 | ||||||||||||||||||
Personal, small business and other(4) | 57,150 | 24,482 | 32,668 | 0.44 | 0.23 | ||||||||||||||||||
Total | $ | 112,847 | $ | 24,482 | $ | 88,365 | 0.57 | % | 0.48 | % |
Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||||||||||||
Balance at June 30, 2022 | 2022 | 2021 | 2022 | 2021 | ||||||||||||||||||||||
In millions of dollars | Recorded investment(1)(2) | Unpaid principal balance | Related specific allowance(3)(4) | Average carrying value(5) | Interest income recognized(6) | Interest income recognized(6) | Interest income recognized(6) | Interest income recognized(6) | ||||||||||||||||||
Mortgage and real estate | ||||||||||||||||||||||||||
Residential first mortgages | $ | 1,179 | $ | 1,290 | $ | 56 | $ | 1,382 | $ | 49 | $ | 21 | $ | 71 | $ | 44 | ||||||||||
Home equity loans | 274 | 344 | (8) | 248 | 2 | 3 | 5 | 5 | ||||||||||||||||||
Credit cards | 1,227 | 1,229 | 463 | 1,450 | 15 | 33 | 33 | 68 | ||||||||||||||||||
Personal, small business and other | 127 | 149 | 39 | 295 | 4 | 15 | 7 | 27 | ||||||||||||||||||
Total | $ | 2,807 | $ | 3,012 | $ | 550 | $ | 3,375 | $ | 70 | $ | 72 | $ | 116 | $ | 144 |
Balance at December 31, 2021 | |||||||||||||||||
In millions of dollars | Recorded investment(1)(2) | Unpaid principal balance | Related specific allowance(3)(4) | Average carrying value(5) | |||||||||||||
Mortgage and real estate | |||||||||||||||||
Residential first mortgages | $ | 1,521 | $ | 1,595 | $ | 87 | $ | 1,564 | |||||||||
Home equity loans | 191 | 344 | (1) | 336 | |||||||||||||
Credit cards | 1,582 | 1,609 | 594 | 1,795 | |||||||||||||
Personal, small business and other | 454 | 461 | 133 | 505 | |||||||||||||
Total | $ | 3,748 | $ | 4,009 | $ | 813 | $ | 4,200 |
For the Three Months Ended June 30, 2022 | ||||||||||||||||||||
In millions of dollars, except number of loans modified | Number of loans modified | Post- modification recorded investment(2)(3) | Deferred principal(4) | Contingent principal forgiveness(5) | Principal forgiveness(6) | Average interest rate reduction | ||||||||||||||
North America | ||||||||||||||||||||
Residential first mortgages | 279 | $ | 56 | $ | — | $ | — | $ | — | — | % | |||||||||
Home equity loans | 103 | 7 | — | — | — | — | ||||||||||||||
Credit cards | 36,820 | 157 | — | — | — | 18 | ||||||||||||||
Personal, small business and other | 105 | 1 | — | — | — | 5 | ||||||||||||||
Total(7) | 37,307 | $ | 221 | $ | — | $ | — | $ | — | |||||||||||
International | ||||||||||||||||||||
Residential mortgages | 110 | $ | 4 | $ | — | $ | — | $ | — | — | % | |||||||||
Credit cards | 3,462 | 13 | — | — | 0 | 27 | ||||||||||||||
Personal, small business and other | 595 | 7 | — | — | — | 8 | ||||||||||||||
Total(7) | 4,167 | $ | 24 | $ | — | $ | — | $ | — | |||||||||||
For the Six Months Ended June 30, 2022 | ||||||||||||||||||||
In millions of dollars, except number of loans modified | Number of loans modified | Post- modification recorded investment(2)(8) | Deferred principal(4) | Contingent principal forgiveness(5) | Principal forgiveness(6) | Average interest rate reduction | ||||||||||||||
North America | ||||||||||||||||||||
Residential first mortgages | 625 | $ | 137 | $ | — | $ | — | $ | — | — | % | |||||||||
Home equity loans | 207 | 16 | — | — | — | — | ||||||||||||||
Credit cards | 77,560 | 330 | — | — | — | 17 | ||||||||||||||
Personal, small business and other | 251 | 2 | — | — | — | 5 | ||||||||||||||
Total(7) | 78,643 | $ | 485 | $ | — | $ | — | $ | — | |||||||||||
International | ||||||||||||||||||||
Residential first mortgages | 293 | $ | 10 | $ | — | $ | — | $ | — | — | % | |||||||||
Credit cards | 8,462 | 35 | — | — | 1 | 23 | ||||||||||||||
Personal, small business and other | 1,267 | 16 | — | — | 0 | 8 | ||||||||||||||
Total(7) | 10,022 | $ | 61 | $ | — | $ | — | $ | 1 |
For the Three Months Ended June 30, 2021 | ||||||||||||||||||||
In millions of dollars, except number of loans modified | Number of loans modified | Post- modification recorded investment(2)(3) | Deferred principal(4) | Contingent principal forgiveness(5) | Principal forgiveness(6) | Average interest rate reduction | ||||||||||||||
North America | ||||||||||||||||||||
Residential first mortgages | 334 | $ | 60 | $ | — | $ | — | $ | — | — | % | |||||||||
Home equity loans | 53 | 4 | — | — | — | — | ||||||||||||||
Credit cards | 36,337 | 181 | — | — | — | 17 | ||||||||||||||
Personal, small business and other | 225 | 3 | — | — | — | 3 | ||||||||||||||
Total(7) | 36,949 | $ | 248 | $ | — | $ | — | $ | — | |||||||||||
International | ||||||||||||||||||||
Residential mortgages | 530 | $ | 28 | $ | — | $ | — | $ | — | 1 | % | |||||||||
Credit cards | 18,297 | 94 | — | — | 1 | 12 | ||||||||||||||
Personal, small business and other | 6,780 | 57 | — | — | 2 | 10 | ||||||||||||||
Total(7) | 25,607 | $ | 179 | $ | — | $ | — | $ | 3 | |||||||||||
For the Six Months Ended June 30, 2021 | ||||||||||||||||||||
In millions of dollars, except number of loans modified | Number of loans modified | Post- modification recorded investment(2)(8) | Deferred principal(4) | Contingent principal forgiveness(5) | Principal forgiveness(6) | Average interest rate reduction | ||||||||||||||
North America | ||||||||||||||||||||
Residential first mortgages | 670 | $ | 120 | $ | — | $ | — | $ | — | — | % | |||||||||
Home equity loans | 112 | 10 | 0 | — | — | — | ||||||||||||||
Credit cards | 95,383 | 481 | — | — | — | 17 | ||||||||||||||
Personal, small business and other | 686 | 10 | — | — | — | 3 | ||||||||||||||
Total(7) | 96,851 | $ | 621 | $ | — | $ | — | $ | — | |||||||||||
International | ||||||||||||||||||||
Residential first mortgages | 997 | $ | 52 | $ | — | $ | — | $ | — | 1 | % | |||||||||
Credit cards | 42,896 | 196 | — | — | 8 | 14 | ||||||||||||||
Personal, small business and other | 14,318 | 115 | — | — | 4 | 10 | ||||||||||||||
Total(7) | 58,211 | $ | 363 | $ | — | $ | — | $ | 12 |
Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||
In millions of dollars | 2022 | 2021 | 2022 | 2021 | ||||||||||
North America | ||||||||||||||
Residential first mortgages | $ | 13 | $ | 15 | $ | 17 | $ | 33 | ||||||
Home equity loans | 2 | 3 | 2 | 7 | ||||||||||
Credit cards | 59 | 73 | 116 | 136 | ||||||||||
Personal, small business and other | — | 1 | — | 2 | ||||||||||
Total | $ | 74 | $ | 92 | $ | 135 | $ | 178 | ||||||
International | ||||||||||||||
Residential mortgages | $ | 3 | $ | 10 | $ | 7 | $ | 22 | ||||||
Credit cards | 3 | 45 | 7 | 97 | ||||||||||
Personal, small business and other | 1 | 36 | 2 | 58 | ||||||||||
Total | $ | 7 | $ | 91 | $ | 16 | $ | 177 |
Three Months Ended June 30, 2022 | Three Months Ended December 31, 2021 | Three Months Ended June 30, 2021 | |||||||||||||||||||||||||||
In millions of dollars | Credit cards | Mortgages(1) | Installment and other | Credit cards | Mortgages(1) | Installment and other | Credit cards | Mortgages(1) | Installment and other | ||||||||||||||||||||
Purchase price | $ | — | $ | 3 | $ | — | $ | — | $ | 4 | $ | — | $ | — | $ | 10 | $ | — | |||||||||||
Allowance for credit losses at acquisition date | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||
Discount or premium attributable to non-credit factors | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||
Par value (amortized cost basis) | $ | — | $ | 3 | $ | — | $ | — | $ | 4 | $ | — | $ | — | $ | 10 | $ | — |
Three Months Ended September 30, | Nine Months Ended September 30, | Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||||||||||||
In millions of dollars | In millions of dollars | 2021 | 2020 | 2021 | 2020 | In millions of dollars | 2022 | 2021 | 2022 | 2021 | ||||||||||||||||||
Allowance for credit losses on loans (ACLL) at beginning of period | Allowance for credit losses on loans (ACLL) at beginning of period | $ | 19,238 | $ | 26,298 | $ | 24,956 | $ | 12,783 | Allowance for credit losses on loans (ACLL) at beginning of period | $ | 15,393 | $ | 21,638 | $ | 16,455 | $ | 24,956 | ||||||||||
Adjustments to opening balance:(1) | ||||||||||||||||||||||||||||
Financial instruments—credit losses (CECL)(1) | — | — | — | 4,201 | ||||||||||||||||||||||||
Variable post-charge-off third-party collection costs(1) | — | — | — | (443) | ||||||||||||||||||||||||
Adjusted ACLL at beginning of period | Adjusted ACLL at beginning of period | $ | 19,238 | $ | 26,298 | $ | 24,956 | $ | 16,541 | Adjusted ACLL at beginning of period | $ | 15,393 | $ | 21,638 | $ | 16,455 | $ | 24,956 | ||||||||||
Gross credit losses on loans | Gross credit losses on loans | $ | (1,389) | $ | (2,367) | $ | (5,441) | $ | (7,374) | Gross credit losses on loans | $ | (1,212) | $ | (1,844) | $ | (2,452) | $ | (4,052) | ||||||||||
Gross recoveries on loans | Gross recoveries on loans | 428 | 448 | 1,412 | 1,235 | Gross recoveries on loans | 362 | 524 | 730 | 984 | ||||||||||||||||||
Net credit losses on loans (NCLs) | Net credit losses on loans (NCLs) | $ | (961) | $ | (1,919) | $ | (4,029) | $ | (6,139) | Net credit losses on loans (NCLs) | $ | (850) | $ | (1,320) | $ | (1,722) | $ | (3,068) | ||||||||||
Replenishment of NCLs | Replenishment of NCLs | $ | 961 | $ | 1,919 | $ | 4,029 | $ | 6,139 | Replenishment of NCLs | $ | 850 | $ | 1,320 | $ | 1,722 | $ | 3,068 | ||||||||||
Net reserve builds (releases) for loans | Net reserve builds (releases) for loans | (1,010) | 164 | (6,262) | 9,453 | Net reserve builds (releases) for loans | 520 | (2,184) | (260) | (5,252) | ||||||||||||||||||
Net specific reserve builds (releases) for loans | Net specific reserve builds (releases) for loans | (139) | (152) | (560) | 706 | Net specific reserve builds (releases) for loans | 14 | (262) | 182 | (421) | ||||||||||||||||||
Total provision for credit losses on loans (PCLL) | Total provision for credit losses on loans (PCLL) | $ | (188) | $ | 1,931 | $ | (2,793) | $ | 16,298 | Total provision for credit losses on loans (PCLL) | $ | 1,384 | $ | (1,126) | $ | 1,644 | $ | (2,605) | ||||||||||
Initial allowance for credit losses on newly purchased credit-deteriorated assets during the period | — | — | — | 4 | ||||||||||||||||||||||||
Other, net (see table below) | Other, net (see table below) | (374) | 116 | (419) | (278) | Other, net (see table below) | 25 | 46 | (425) | (45) | ||||||||||||||||||
ACLL at end of period | ACLL at end of period | $ | 17,715 | $ | 26,426 | $ | 17,715 | $ | 26,426 | ACLL at end of period | $ | 15,952 | $ | 19,238 | $ | 15,952 | $ | 19,238 | ||||||||||
Allowance for credit losses on unfunded lending commitments (ACLUC) at beginning of period | Allowance for credit losses on unfunded lending commitments (ACLUC) at beginning of period | $ | 2,073 | $ | 1,859 | $ | 2,655 | $ | 1,456 | Allowance for credit losses on unfunded lending commitments (ACLUC) at beginning of period | $ | 2,343 | $ | 2,012 | $ | 1,871 | $ | 2,655 | ||||||||||
Adjustment to opening balance for CECL adoption(1) | — | — | — | (194) | ||||||||||||||||||||||||
Provision (release) for credit losses on unfunded lending commitments | Provision (release) for credit losses on unfunded lending commitments | (13) | 424 | (595) | 1,094 | Provision (release) for credit losses on unfunded lending commitments | (159) | 44 | 315 | (582) | ||||||||||||||||||
Other, net | Other, net | 3 | 16 | 3 | (57) | Other, net | 9 | 17 | 7 | — | ||||||||||||||||||
ACLUC at end of period | ACLUC at end of period | $ | 2,063 | $ | 2,299 | $ | 2,063 | $ | 2,299 | ACLUC at end of period | $ | 2,193 | $ | 2,073 | $ | 2,193 | $ | 2,073 | ||||||||||
Total allowance for credit losses on loans, leases and unfunded lending commitments | $ | 19,778 | $ | 28,725 | $ | 19,778 | $ | 28,725 | ||||||||||||||||||||
Total allowance for credit losses on loans, leases and unfunded lending commitments(2) | Total allowance for credit losses on loans, leases and unfunded lending commitments(2) | $ | 18,145 | $ | 21,311 | $ | 18,145 | $ | 21,311 |
Other, net details | Other, net details | Three Months Ended September 30, | Nine Months Ended September 30, | Other, net details | Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||||||||||
In millions of dollars | In millions of dollars | 2021 | 2020 | 2021 | 2020 | In millions of dollars | 2022 | 2021 | 2022 | 2021 | ||||||||||||||||||
Sales or transfers of various consumer loan portfolios to HFS | $ | (278) | $ | — | $ | (278) | $ | (4) | ||||||||||||||||||||
FX translation | (93) | 116 | (139) | (279) | ||||||||||||||||||||||||
Other | (3) | — | (2) | 5 | ||||||||||||||||||||||||
Reclasses of consumer ACLL to HFS(3) | Reclasses of consumer ACLL to HFS(3) | $ | — | $ | — | $ | (350) | $ | — | |||||||||||||||||||
FX translation and other | FX translation and other | 25 | 46 | (75) | (45) | |||||||||||||||||||||||
Other, net | Other, net | $ | (374) | $ | 116 | $ | (419) | $ | (278) | Other, net | $ | 25 | $ | 46 | $ | (425) | $ | (45) |
Three Months Ended | Three Months Ended | |||||||||||||||||||||||||||||||||||||||||||||
September 30, 2021 | September 30, 2020 | June 30, 2022 | June 30, 2021 | |||||||||||||||||||||||||||||||||||||||||||
In millions of dollars | In millions of dollars | Corporate | Consumer | Total | Corporate | Consumer | Total | In millions of dollars | Corporate | Consumer | Total | Corporate | Consumer | Total | ||||||||||||||||||||||||||||||||
ACLL at beginning of period | ACLL at beginning of period | $ | 3,127 | $ | 16,111 | $ | 19,238 | $ | 6,824 | $ | 19,474 | $ | 26,298 | ACLL at beginning of period | $ | 3,025 | $ | 12,368 | $ | 15,393 | $ | 3,542 | $ | 18,096 | $ | 21,638 | ||||||||||||||||||||
Charge-offs | Charge-offs | (49) | (1,340) | (1,389) | (351) | (2,016) | (2,367) | Charge-offs | (57) | (1,155) | (1,212) | (137) | (1,707) | (1,844) | ||||||||||||||||||||||||||||||||
Recoveries | Recoveries | 10 | 418 | 428 | 26 | 422 | 448 | Recoveries | 34 | 328 | 362 | 60 | 464 | 524 | ||||||||||||||||||||||||||||||||
Replenishment of NCLs | Replenishment of NCLs | 39 | 922 | 961 | 325 | 1,594 | 1,919 | Replenishment of NCLs | 23 | 827 | 850 | 77 | 1,243 | 1,320 | ||||||||||||||||||||||||||||||||
Net reserve builds (releases) | Net reserve builds (releases) | (44) | (966) | (1,010) | 267 | (103) | 164 | Net reserve builds (releases) | (128) | 648 | 520 | (751) | (1,433) | (2,184) | ||||||||||||||||||||||||||||||||
Net specific reserve builds (releases) | Net specific reserve builds (releases) | (21) | (118) | (139) | (161) | 9 | (152) | Net specific reserve builds (releases) | 49 | (35) | 14 | (112) | (150) | (262) | ||||||||||||||||||||||||||||||||
Initial allowance for credit losses on newly purchased credit-deteriorated assets during the period | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||
Other | Other | (15) | (359) | (374) | 8 | 108 | 116 | Other | 23 | 2 | 25 | (7) | 53 | 46 | ||||||||||||||||||||||||||||||||
Ending balance | Ending balance | $ | 3,047 | $ | 14,668 | $ | 17,715 | $ | 6,938 | $ | 19,488 | $ | 26,426 | Ending balance | $ | 2,969 | $ | 12,983 | $ | 15,952 | $ | 2,672 | $ | 16,566 | $ | 19,238 | ||||||||||||||||||||
Nine Months Ended | Six Months Ended | |||||||||||||||||||||||||||||||||||||||||||||
September 30, 2021 | September 30, 2020 | June 30, 2022 | June 30, 2021 | |||||||||||||||||||||||||||||||||||||||||||
In millions of dollars | In millions of dollars | Corporate | Consumer | Total | Corporate | Consumer | Total | In millions of dollars | Corporate | Consumer | Total | Corporate | Consumer | Total | ||||||||||||||||||||||||||||||||
ACLL at beginning of period | ACLL at beginning of period | $ | 5,402 | $ | 19,554 | $ | 24,956 | $ | 2,886 | $ | 9,897 | $ | 12,783 | ACLL at beginning of period | $ | 2,415 | $ | 14,040 | $ | 16,455 | $ | 4,776 | $ | 20,180 | $ | 24,956 | ||||||||||||||||||||
Adjustments to opening balance: | ||||||||||||||||||||||||||||||||||||||||||||||
Financial instruments—credit losses (CECL adoption)(1) | — | — | — | (721) | 4,922 | 4,201 | ||||||||||||||||||||||||||||||||||||||||
Variable post-charge-off third-party collection costs(1) | — | — | — | — | (443) | (443) | ||||||||||||||||||||||||||||||||||||||||
Charge-offs | Charge-offs | (403) | (5,038) | (5,441) | (837) | (6,537) | (7,374) | Charge-offs | (105) | (2,347) | (2,452) | (336) | (3,716) | (4,052) | ||||||||||||||||||||||||||||||||
Recoveries | Recoveries | 89 | 1,323 | 1,412 | 61 | 1,174 | 1,235 | Recoveries | 51 | 679 | 730 | 74 | 910 | 984 | ||||||||||||||||||||||||||||||||
Replenishment of NCLs | Replenishment of NCLs | 314 | 3,715 | 4,029 | 776 | 5,363 | 6,139 | Replenishment of NCLs | 54 | 1,668 | 1,722 | 262 | 2,806 | 3,068 | ||||||||||||||||||||||||||||||||
Net reserve builds (releases) | Net reserve builds (releases) | (2,137) | (4,125) | (6,262) | 4,418 | 5,035 | 9,453 | Net reserve builds (releases) | 249 | (509) | (260) | (1,944) | (3,308) | (5,252) | ||||||||||||||||||||||||||||||||
Net specific reserve builds (releases) | Net specific reserve builds (releases) | (189) | (371) | (560) | 373 | 333 | 706 | Net specific reserve builds (releases) | 273 | (91) | 182 | (146) | (275) | (421) | ||||||||||||||||||||||||||||||||
Initial allowance for credit losses on newly purchased credit-deteriorated assets during the period | — | — | — | — | 4 | 4 | ||||||||||||||||||||||||||||||||||||||||
Other | Other | (29) | (390) | (419) | (18) | (260) | (278) | Other | 32 | (457) | (425) | (14) | (31) | (45) | ||||||||||||||||||||||||||||||||
Ending balance | Ending balance | $ | 3,047 | $ | 14,668 | $ | 17,715 | $ | 6,938 | $ | 19,488 | $ | 26,426 | Ending balance | $ | 2,969 | $ | 12,983 | $ | 15,952 | $ | 2,672 | $ | 16,566 | $ | 19,238 |
September 30, 2021 | December 31, 2020 | June 30, 2022 | December 31, 2021 | |||||||||||||||||||||||||||||||||||||
In millions of dollars | In millions of dollars | Corporate | Consumer | Total | Corporate | Consumer | Total | In millions of dollars | Corporate | Consumer | Total | Corporate | Consumer | Total | ||||||||||||||||||||||||||
ACLL | ACLL | ACLL | ||||||||||||||||||||||||||||||||||||||
Collectively evaluated | Collectively evaluated | $ | 2,732 | $ | 13,777 | $ | 16,509 | $ | 4,887 | $ | 18,207 | $ | 23,094 | Collectively evaluated | $ | 2,409 | $ | 12,431 | $ | 14,840 | $ | 2,203 | $ | 13,227 | $ | 15,430 | ||||||||||||||
Individually evaluated | Individually evaluated | 315 | 891 | 1,206 | 515 | 1,345 | 1,860 | Individually evaluated | 560 | 550 | 1,110 | 212 | 813 | 1,025 | ||||||||||||||||||||||||||
Purchased credit deteriorated | Purchased credit deteriorated | — | — | — | — | 2 | 2 | Purchased credit deteriorated | — | 2 | 2 | — | — | — | ||||||||||||||||||||||||||
Total ACLL | Total ACLL | $ | 3,047 | $ | 14,668 | $ | 17,715 | $ | 5,402 | $ | 19,554 | $ | 24,956 | Total ACLL | $ | 2,969 | $ | 12,983 | $ | 15,952 | $ | 2,415 | $ | 14,040 | $ | 16,455 | ||||||||||||||
Loans, net of unearned income | Loans, net of unearned income | Loans, net of unearned income | ||||||||||||||||||||||||||||||||||||||
Collectively evaluated | Collectively evaluated | $ | 390,968 | $ | 260,258 | $ | 651,226 | $ | 376,677 | $ | 283,885 | $ | 660,562 | Collectively evaluated | $ | 295,545 | $ | 352,683 | $ | 648,228 | $ | 283,610 | $ | 372,655 | $ | 656,265 | ||||||||||||||
Individually evaluated | Individually evaluated | 2,400 | 3,852 | 6,252 | 3,527 | 4,799 | 8,326 | Individually evaluated | 1,655 | 2,807 | 4,462 | 1,553 | 3,748 | 5,301 | ||||||||||||||||||||||||||
Purchased credit deteriorated | Purchased credit deteriorated | — | 127 | 127 | — | 141 | 141 | Purchased credit deteriorated | — | 107 | 107 | — | 119 | 119 | ||||||||||||||||||||||||||
Held at fair value | Held at fair value | 7,146 | 13 | 7,159 | 6,840 | 14 | 6,854 | Held at fair value | 4,528 | 8 | 4,536 | 6,070 | 12 | 6,082 | ||||||||||||||||||||||||||
Total loans, net of unearned income | Total loans, net of unearned income | $ | 400,514 | $ | 264,250 | $ | 664,764 | $ | 387,044 | $ | 288,839 | $ | 675,883 | Total loans, net of unearned income | $ | 301,728 | $ | 355,605 | $ | 657,333 | $ | 291,233 | $ | 376,534 | $ | 667,767 |
Three Months Ended September 30, 2021 | ||||||||||||||||||||||||||
In millions of dollars | Mortgage-backed | State and municipal | Foreign government | Asset-backed | Total HTM | |||||||||||||||||||||
Allowance for credit losses on HTM debt securities at beginning of quarter | $ | 5 | $ | 72 | $ | 5 | $ | 1 | $ | 83 | ||||||||||||||||
Gross credit losses | — | — | — | — | — | |||||||||||||||||||||
Gross recoveries | — | — | — | — | — | |||||||||||||||||||||
Net credit losses (NCLs) | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||
Replenishment of NCLs | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||
Net reserve builds (releases) | — | (5) | (1) | — | (6) | |||||||||||||||||||||
Net specific reserve builds (releases) | (4) | — | — | — | (4) | |||||||||||||||||||||
Total provision for credit losses on HTM debt securities | $ | (4) | $ | (5) | $ | (1) | $ | — | $ | (10) | ||||||||||||||||
Other, net | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||
Initial allowance for credit losses on newly purchased credit-deteriorated securities during the period | — | — | — | — | — | |||||||||||||||||||||
Allowance for credit losses on HTM debt securities at end of quarter | $ | 1 | $ | 67 | $ | 4 | $ | 1 | $ | 73 | ||||||||||||||||
Nine Months Ended September 30, 2021 | ||||||||||||||||||||||||||
In millions of dollars | Mortgage-backed | State and municipal | Foreign government | Asset-backed | Total HTM | |||||||||||||||||||||
Allowance for credit losses on HTM debt securities at beginning of year | $ | 3 | $ | 74 | $ | 6 | $ | 3 | $ | 86 | ||||||||||||||||
Gross credit losses | — | — | — | — | — | |||||||||||||||||||||
Gross recoveries | 3 | — | — | — | 3 | |||||||||||||||||||||
Net credit losses (NCLs) | $ | 3 | $ | — | $ | — | $ | — | $ | 3 | ||||||||||||||||
Replenishment of NCLs | $ | (3) | $ | — | $ | — | $ | — | $ | (3) | ||||||||||||||||
Net reserve builds (releases) | 2 | (7) | (2) | (3) | (10) | |||||||||||||||||||||
Net specific reserve builds (releases) | (4) | — | — | — | (4) | |||||||||||||||||||||
Total provision for credit losses on HTM debt securities | $ | (5) | $ | (7) | $ | (2) | $ | (3) | $ | (17) | ||||||||||||||||
Other, net | $ | — | $ | — | $ | — | $ | 1 | $ | 1 | ||||||||||||||||
Initial allowance for credit losses on newly purchased credit-deteriorated securities during the period | — | — | — | — | — | |||||||||||||||||||||
Allowance for credit losses on HTM debt securities at end of quarter | $ | 1 | $ | 67 | $ | 4 | $ | 1 | $ | 73 | ||||||||||||||||
Three Months Ended June 30, 2022 | ||||||||||||||||||||||||||
In millions of dollars | Mortgage-backed | State and municipal | Foreign government | Asset-backed | Total HTM | |||||||||||||||||||||
Allowance for credit losses on HTM debt securities at beginning of quarter | $ | 4 | $ | 79 | $ | 2 | $ | — | $ | 85 | ||||||||||||||||
Gross credit losses | — | — | — | — | — | |||||||||||||||||||||
Gross recoveries | — | — | — | — | — | |||||||||||||||||||||
Net credit losses (NCLs) | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||
Replenishment of NCLs | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||
Net reserve builds (releases) | (2) | 14 | 1 | 7 | 20 | |||||||||||||||||||||
Net specific reserve builds (releases) | — | — | — | — | — | |||||||||||||||||||||
Total provision for credit losses on HTM debt securities | $ | (2) | $ | 14 | $ | 1 | $ | 7 | $ | 20 | ||||||||||||||||
Allowance for credit losses on HTM debt securities at end of quarter | $ | 2 | $ | 93 | $ | 3 | $ | 7 | $ | 105 | ||||||||||||||||
Six Months Ended June 30, 2022 | ||||||||||||||||||||||||||
In millions of dollars | Mortgage-backed | State and municipal | Foreign government | Asset-backed | Total HTM | |||||||||||||||||||||
Allowance for credit losses on HTM debt securities at beginning of year | $ | 6 | $ | 75 | $ | 4 | $ | 2 | $ | 87 | ||||||||||||||||
Gross credit losses | — | — | — | — | — | |||||||||||||||||||||
Gross recoveries | — | — | — | — | — | |||||||||||||||||||||
Net credit losses (NCLs) | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||
Replenishment of NCLs | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||
Net reserve builds (releases) | (4) | 18 | (1) | 5 | 18 | |||||||||||||||||||||
Net specific reserve builds (releases) | — | — | — | — | — | |||||||||||||||||||||
Total provision for credit losses on HTM debt securities | $ | (4) | $ | 18 | $ | (1) | $ | 5 | $ | 18 | ||||||||||||||||
Allowance for credit losses on HTM debt securities at end of quarter | $ | 2 | $ | 93 | $ | 3 | $ | 7 | $ | 105 |
Three Months Ended September 30, 2020 | ||||||||||||||||||||||||||
In millions of dollars | Mortgage-backed | State and municipal | Foreign government | Asset- backed | Total HTM | |||||||||||||||||||||
Allowance for credit losses on HTM debt securities at beginning of quarter | $ | — | $ | 99 | $ | 6 | $ | 2 | $ | 107 | ||||||||||||||||
Adjustment to opening balance for CECL adoption | — | — | — | — | — | |||||||||||||||||||||
Gross credit losses | — | — | — | — | — | |||||||||||||||||||||
Gross recoveries | — | — | — | — | — | |||||||||||||||||||||
Net credit losses (NCLs) | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||
Replenishment of NCLs | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||
Net reserve builds (releases) | 3 | (19) | (1) | 1 | (16) | |||||||||||||||||||||
Net specific reserve builds (releases) | — | — | — | — | — | |||||||||||||||||||||
Total provision for credit losses on HTM debt securities | $ | 3 | $ | (19) | $ | (1) | $ | 1 | $ | (16) | ||||||||||||||||
Other, net | $ | 5 | $ | — | $ | 2 | $ | — | $ | 7 | ||||||||||||||||
Initial allowance for credit losses on newly purchased credit-deteriorated securities during the period | — | — | — | — | — | |||||||||||||||||||||
Allowance for credit losses on HTM debt securities at end of quarter | $ | 8 | $ | 80 | $ | 7 | $ | 3 | $ | 98 | ||||||||||||||||
Nine Months Ended September 30, 2020 | ||||||||||||||||||||||||||
In millions of dollars | Mortgage-backed | State and municipal | Foreign government | Asset- backed | Total HTM | |||||||||||||||||||||
Allowance for credit losses on HTM debt securities at beginning of year | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||
Adjustment to opening balance for CECL adoption | — | 61 | 4 | 5 | 70 | |||||||||||||||||||||
Gross credit losses | — | — | — | — | — | |||||||||||||||||||||
Gross recoveries | — | — | — | — | — | |||||||||||||||||||||
Net credit losses (NCLs) | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||
Replenishment of NCLs | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||
Net reserve builds | 3 | 16 | 1 | 1 | 21 | |||||||||||||||||||||
Net specific reserve builds (releases) | — | — | — | — | — | |||||||||||||||||||||
Total provision for credit losses on HTM debt securities | $ | 3 | $ | 16 | $ | 1 | $ | 1 | $ | 21 | ||||||||||||||||
Other, net | $ | 5 | $ | 3 | $ | 2 | $ | (3) | $ | 7 | ||||||||||||||||
Initial allowance for credit losses on newly purchased credit-deteriorated securities during the period | — | — | — | — | — | |||||||||||||||||||||
Allowance for credit losses on HTM debt securities at end of quarter | $ | 8 | $ | 80 | $ | 7 | $ | 3 | $ | 98 |
Three Months Ended June 30, 2021 | ||||||||||||||||||||||||||
In millions of dollars | Mortgage-backed | State and municipal | Foreign government | Asset-backed | Total HTM | |||||||||||||||||||||
Allowance for credit losses on HTM debt securities at beginning of quarter | $ | 4 | $ | 69 | $ | 5 | $ | — | $ | 78 | ||||||||||||||||
Gross credit losses | — | — | — | — | — | |||||||||||||||||||||
Gross recoveries | — | — | — | — | — | |||||||||||||||||||||
Net credit losses (NCLs) | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||
Replenishment of NCLs | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||
Net reserve builds (releases) | 1 | 3 | — | — | 4 | |||||||||||||||||||||
Net specific reserve builds (releases) | — | — | — | — | — | |||||||||||||||||||||
Total provision for credit losses on HTM debt securities | $ | 1 | $ | 3 | $ | — | $ | — | $ | 4 | ||||||||||||||||
Other, net | $ | — | $ | — | $ | — | $ | 1 | $ | 1 | ||||||||||||||||
Allowance for credit losses on HTM debt securities at end of quarter | $ | 5 | $ | 72 | $ | 5 | $ | 1 | $ | 83 | ||||||||||||||||
Six Months Ended June 30, 2021 | ||||||||||||||||||||||||||
In millions of dollars | Mortgage-backed | State and municipal | Foreign government | Asset- backed | Total HTM | |||||||||||||||||||||
Allowance for credit losses on HTM debt securities at beginning of year | $ | 3 | $ | 74 | $ | 6 | $ | 3 | $ | 86 | ||||||||||||||||
Gross credit losses | — | — | — | — | — | |||||||||||||||||||||
Gross recoveries | 3 | — | — | — | 3 | |||||||||||||||||||||
Net credit losses (NCLs) | $ | 3 | $ | — | $ | — | $ | — | $ | 3 | ||||||||||||||||
Replenishment of NCLs | $ | (3) | $ | — | $ | — | $ | — | $ | (3) | ||||||||||||||||
Net reserve builds | 2 | (2) | (1) | (3) | (4) | |||||||||||||||||||||
Net specific reserve builds (releases) | — | — | — | — | — | |||||||||||||||||||||
Total provision for credit losses on HTM debt securities | $ | (1) | $ | (2) | $ | (1) | $ | (3) | $ | (7) | ||||||||||||||||
Other, net | $ | — | $ | — | $ | — | $ | 1 | $ | 1 | ||||||||||||||||
Allowance for credit losses on HTM debt securities at end of quarter | $ | 5 | $ | 72 | $ | 5 | $ | 1 | $ | 83 |
Three Months Ended September 30, 2021 | ||||||||||||||||||||||||||
In millions of dollars | Cash and due from banks | Deposits with banks | Securities borrowed and purchased under agreements to resell | Brokerage receivables | All other assets(1) | Total | ||||||||||||||||||||
Allowance for credit losses on other assets at beginning of quarter | $ | — | $ | 24 | $ | 8 | $ | — | $ | 28 | $ | 60 | ||||||||||||||
Gross credit losses | — | — | — | — | — | — | ||||||||||||||||||||
Gross recoveries | — | 0 | — | — | — | — | ||||||||||||||||||||
Net credit losses (NCLs) | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||
Replenishment of NCLs | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||
Net reserve builds (releases) | — | — | 1 | — | (4) | (3) | ||||||||||||||||||||
Total provision for credit losses | $ | — | $ | — | $ | 1 | $ | — | $ | (4) | $ | (3) | ||||||||||||||
Other, net | $ | — | $ | — | $ | — | $ | — | $ | 1 | $ | 1 | ||||||||||||||
Allowance for credit losses on other assets at end of quarter | $ | — | $ | 24 | $ | 9 | $ | — | $ | 25 | $ | 58 | ||||||||||||||
Nine Months Ended September 30, 2021 | ||||||||||||||||||||||||||
In millions of dollars | Cash and due from banks | Deposits with banks | Securities borrowed and purchased under agreements to resell | Brokerage receivables | All other assets(1) | Total | ||||||||||||||||||||
Allowance for credit losses on other assets at beginning of year | $ | — | $ | 20 | $ | 10 | $ | — | $ | 25 | $ | 55 | ||||||||||||||
Gross credit losses | — | — | — | — | — | — | ||||||||||||||||||||
Gross recoveries | — | — | — | — | — | — | ||||||||||||||||||||
Net credit losses (NCLs) | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||
Replenishment of NCLs | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||
Net reserve builds (releases) | — | 5 | (1) | — | (1) | 3 | ||||||||||||||||||||
Total provision for credit losses | $ | — | $ | 5 | $ | (1) | $ | — | $ | (1) | $ | 3 | ||||||||||||||
Other, net | $ | — | $ | (1) | $ | — | $ | — | $ | 1 | $ | — | ||||||||||||||
Allowance for credit losses on other assets at end of quarter | $ | — | $ | 24 | $ | 9 | $ | — | $ | 25 | $ | 58 | ||||||||||||||
Three Months Ended June 30, 2022 | ||||||||||||||||||||
In millions of dollars | Deposits with banks | Securities borrowed and purchased under agreements to resell | Brokerage receivables | All other assets(1) | Total | |||||||||||||||
Allowance for credit losses on other assets at beginning of quarter | $ | 15 | $ | 4 | $ | — | $ | 24 | $ | 43 | ||||||||||
Gross credit losses | — | — | — | (8) | (8) | |||||||||||||||
Gross recoveries | — | — | — | 2 | 2 | |||||||||||||||
Net credit losses (NCLs) | $ | — | $ | — | $ | — | $ | (6) | $ | (6) | ||||||||||
Replenishment of NCLs | $ | — | $ | — | $ | — | $ | 6 | $ | 6 | ||||||||||
Net reserve builds (releases) | 2 | (8) | — | 7 | 1 | |||||||||||||||
Total provision for credit losses | $ | 2 | $ | (8) | $ | — | $ | 13 | $ | 7 | ||||||||||
Other, net(2) | $ | — | $ | 31 | $ | — | $ | (1) | $ | 30 | ||||||||||
Allowance for credit losses on other assets at end of quarter | $ | 17 | $ | 27 | $ | — | $ | 30 | $ | 74 | ||||||||||
Six Months Ended June 30, 2022 | ||||||||||||||||||||
In millions of dollars | Deposits with banks | Securities borrowed and purchased under agreements to resell | Brokerage receivables | All other assets(1) | Total | |||||||||||||||
Allowance for credit losses on other assets at beginning of year | $ | 21 | $ | 6 | $ | — | $ | 26 | $ | 53 | ||||||||||
Gross credit losses | — | — | — | (15) | (15) | |||||||||||||||
Gross recoveries | — | — | — | 2 | 2 | |||||||||||||||
Net credit losses (NCLs) | $ | — | $ | — | $ | — | $ | (13) | $ | (13) | ||||||||||
Replenishment of NCLs | $ | — | $ | — | $ | — | $ | 13 | $ | 13 | ||||||||||
Net reserve builds (releases) | (4) | (10) | — | 4 | (10) | |||||||||||||||
Total provision for credit losses | $ | (4) | $ | (10) | $ | — | $ | 17 | $ | 3 | ||||||||||
Other, net(2) | $ | — | $ | 31 | $ | — | $ | — | $ | 31 | ||||||||||
Allowance for credit losses on other assets at end of quarter | $ | 17 | $ | 27 | $ | — | $ | 30 | $ | 74 |
Three Months Ended September 30, 2020 | ||||||||||||||||||||
In millions of dollars | Cash and due from banks | Deposits with banks | Securities borrowed and purchased under agreements to resell | Brokerage receivables | All other assets(1) | Total | ||||||||||||||
Allowance for credit losses at beginning of quarter | $ | — | $ | 18 | $ | 7 | $ | — | $ | 77 | $ | 102 | ||||||||
Adjustment to opening balance for CECL adoption | — | — | — | — | — | — | ||||||||||||||
Gross credit losses | — | — | — | — | — | — | ||||||||||||||
Gross recoveries | — | — | — | — | — | — | ||||||||||||||
Net credit losses (NCLs) | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||
Replenishment of NCLs | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||
Net reserve builds (releases) | — | 7 | (3) | — | (17) | (13) | ||||||||||||||
Total provision for credit losses | $ | — | $ | 7 | $ | (3) | $ | — | $ | (17) | $ | (13) | ||||||||
Other, net | $ | — | $ | — | $ | — | $ | — | $ | (10) | $ | (10) | ||||||||
Allowance for credit losses on other assets at end of quarter | $ | — | $ | 25 | $ | 4 | $ | — | $ | 50 | $ | 79 | ||||||||
Nine Months Ended September 30, 2020 | ||||||||||||||||||||
In millions of dollars | Cash and due from banks | Deposits with banks | Securities borrowed and purchased under agreements to resell | Brokerage receivables | All other assets(1) | Total | ||||||||||||||
Allowance for credit losses at beginning of year | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||
Adjustment to opening balance for CECL adoption | 6 | 14 | 2 | 1 | 3 | 26 | ||||||||||||||
Gross credit losses | — | — | — | — | — | — | ||||||||||||||
Gross recoveries | — | — | — | — | — | — | ||||||||||||||
Net credit losses (NCLs) | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||
Replenishment of NCLs | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||
Net reserve builds (releases) | (6) | 11 | 2 | (1) | 25 | 31 | ||||||||||||||
Total provision for credit losses | $ | (6) | $ | 11 | $ | 2 | $ | (1) | $ | 25 | $ | 31 | ||||||||
Other, net | $ | — | $ | — | $ | — | $ | — | $ | 22 | $ | 22 | ||||||||
Allowance for credit losses on other assets at end of year | $ | — | $ | 25 | $ | 4 | $ | — | $ | 50 | $ | 79 |
Three Months Ended June 30, 2021 | ||||||||||||||||||||
In millions of dollars | Deposits with banks | Securities borrowed and purchased under agreements to resell | Brokerage receivables | All other assets(1) | Total | |||||||||||||||
Allowance for credit losses on other assets at beginning of quarter | $ | 28 | $ | 5 | $ | — | $ | 30 | $ | 63 | ||||||||||
Gross credit losses | — | — | — | — | — | |||||||||||||||
Gross recoveries | — | — | — | — | — | |||||||||||||||
Net credit losses (NCLs) | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||
Replenishment of NCLs | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||
Net reserve builds (releases) | (4) | 3 | — | (2) | (3) | |||||||||||||||
Total provision for credit losses | $ | (4) | $ | 3 | $ | — | $ | (2) | $ | (3) | ||||||||||
Other, net | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||
Allowance for credit losses on other assets at end of quarter | $ | 24 | $ | 8 | $ | — | $ | 28 | $ | 60 | ||||||||||
Six Months Ended June 30, 2021 | ||||||||||||||||||||
In millions of dollars | Deposits with banks | Securities borrowed and purchased under agreements to resell | Brokerage receivables | All other assets(1) | Total | |||||||||||||||
Allowance for credit losses on other assets at beginning of year | $ | 20 | $ | 10 | $ | — | $ | 25 | $ | 55 | ||||||||||
Gross credit losses | — | — | — | — | — | |||||||||||||||
Gross recoveries | — | — | — | — | — | |||||||||||||||
Net credit losses (NCLs) | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||
Replenishment of NCLs | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||
Net reserve builds (releases) | 5 | (2) | — | 3 | 6 | |||||||||||||||
Total provision for credit losses | $ | 5 | $ | (2) | $ | — | $ | 3 | $ | 6 | ||||||||||
Other, net | $ | (1) | $ | — | $ | — | $ | — | $ | (1) | ||||||||||
Allowance for credit losses on other assets at end of year | $ | 24 | $ | 8 | $ | — | $ | 28 | $ | 60 |
In millions of dollars | Global Consumer Banking | Institutional Clients Group | Total | ||||||||
Balance at December 31, 2020 | $ | 12,142 | $ | 10,020 | $ | 22,162 | |||||
Foreign currency translation | (68) | (189) | (257) | ||||||||
Balance at March 31, 2021 | $ | 12,074 | $ | 9,831 | $ | 21,905 | |||||
Foreign currency translation | 34 | 121 | 155 | ||||||||
Balance at June 30, 2021 | $ | 12,108 | $ | 9,952 | $ | 22,060 | |||||
Foreign currency translation | (87) | (173) | (260) | ||||||||
Divesture(1) | (227) | — | (227) | ||||||||
Balance at September 30, 2021 | $ | 11,794 | $ | 9,779 | $ | 21,573 | |||||
In millions of dollars | Institutional Clients Group | Personal Banking and Wealth Management | Legacy Franchises | Total | ||||||||||
Balance at December 31, 2021 | $ | 9,215 | $ | 9,717 | $ | 2,367 | $ | 21,299 | ||||||
Impairment(1) | — | — | (535) | (535) | ||||||||||
Divestitures(2) | — | — | (873) | (873) | ||||||||||
Foreign currency translation | (44) | 18 | — | (26) | ||||||||||
Balance at March 31, 2022 | $ | 9,171 | $ | 9,735 | $ | 959 | $ | 19,865 | ||||||
Foreign currency translation | (223) | (20) | (25) | (268) | ||||||||||
Balance at June 30, 2022 | $ | 8,948 | $ | 9,715 | $ | 934 | $ | 19,597 | ||||||
September 30, 2021 | December 31, 2020 | |||||||||||||||||||
In millions of dollars | Gross carrying amount | Accumulated amortization | Net carrying amount | Gross carrying amount | Accumulated amortization | Net carrying amount | ||||||||||||||
Purchased credit card relationships | $ | 5,579 | $ | 4,306 | $ | 1,273 | $ | 5,648 | $ | 4,229 | $ | 1,419 | ||||||||
Credit card contract-related intangibles(1) | 3,887 | 1,337 | 2,550 | 3,929 | 1,276 | 2,653 | ||||||||||||||
Core deposit intangibles | 39 | 39 | — | 45 | 44 | 1 | ||||||||||||||
Other customer relationships | 433 | 307 | 126 | 455 | 314 | 141 | ||||||||||||||
Present value of future profits | 31 | 29 | 2 | 32 | 30 | 2 | ||||||||||||||
Indefinite-lived intangible assets | 183 | — | 183 | 190 | — | 190 | ||||||||||||||
Other | 76 | 66 | 10 | 72 | 67 | 5 | ||||||||||||||
Intangible assets (excluding MSRs) | $ | 10,228 | $ | 6,084 | $ | 4,144 | $ | 10,371 | $ | 5,960 | $ | 4,411 | ||||||||
Mortgage servicing rights (MSRs)(2) | 409 | — | 409 | 336 | — | 336 | ||||||||||||||
Total intangible assets | $ | 10,637 | $ | 6,084 | $ | 4,553 | $ | 10,707 | $ | 5,960 | $ | 4,747 |
June 30, 2022 | December 31, 2021 | |||||||||||||||||||
In millions of dollars | Gross carrying amount | Accumulated amortization | Net carrying amount | Gross carrying amount | Accumulated amortization | Net carrying amount | ||||||||||||||
Purchased credit card relationships | $ | 5,514 | $ | 4,357 | $ | 1,157 | $ | 5,579 | $ | 4,348 | $ | 1,231 | ||||||||
Credit card contract-related intangibles(1) | 3,903 | 1,440 | 2,463 | 3,912 | 1,372 | 2,540 | ||||||||||||||
Core deposit intangibles | 37 | 37 | — | 39 | 39 | — | ||||||||||||||
Other customer relationships | 362 | 267 | 95 | 429 | 305 | 124 | ||||||||||||||
Present value of future profits | 32 | 30 | 2 | 31 | 29 | 2 | ||||||||||||||
Indefinite-lived intangible assets | 186 | — | 186 | 183 | — | 183 | ||||||||||||||
Other | 27 | 4 | 23 | 37 | 26 | 11 | ||||||||||||||
Intangible assets (excluding MSRs) | $ | 10,061 | $ | 6,135 | $ | 3,926 | $ | 10,210 | $ | 6,119 | $ | 4,091 | ||||||||
Mortgage servicing rights (MSRs)(2) | 600 | — | 600 | 404 | — | 404 | ||||||||||||||
Total intangible assets | $ | 10,661 | $ | 6,135 | $ | 4,526 | $ | 10,614 | $ | 6,119 | $ | 4,495 |
In millions of dollars | Net carrying amount at December 31, 2020 | Acquisitions/renewals/ divestitures | Amortization | Impairments | FX translation and other | Net carrying amount at September 30, 2021 | ||||||||||||||
Purchased credit card relationships(1) | $ | 1,419 | $ | (15) | $ | (129) | $ | — | $ | (2) | $ | 1,273 | ||||||||
Credit card contract-related intangibles(2) | 2,653 | 4 | (105) | (1) | (1) | 2,550 | ||||||||||||||
Core deposit intangibles | 1 | — | (1) | — | — | — | ||||||||||||||
Other customer relationships | 141 | 12 | (17) | — | (10) | 126 | ||||||||||||||
Present value of future profits | 2 | — | — | — | — | 2 | ||||||||||||||
Indefinite-lived intangible assets | 190 | — | — | — | (7) | 183 | ||||||||||||||
Other | 5 | 23 | (19) | — | 1 | 10 | ||||||||||||||
Intangible assets (excluding MSRs) | $ | 4,411 | $ | 24 | $ | (271) | $ | (1) | $ | (19) | $ | 4,144 | ||||||||
Mortgage servicing rights (MSRs)(3) | 336 | 409 | ||||||||||||||||||
Total intangible assets | $ | 4,747 | $ | 4,553 |
In millions of dollars | Net carrying amount at December 31, 2021 | Acquisitions/renewals/ divestitures | Amortization | Impairments | FX translation and other | Net carrying amount at June 30, 2022 | ||||||||||||||
Purchased credit card relationships(1) | $ | 1,231 | $ | 3 | $ | (70) | $ | — | $ | (7) | $ | 1,157 | ||||||||
Credit card contract-related intangibles(2) | 2,540 | — | (77) | — | — | 2,463 | ||||||||||||||
Core deposit intangibles | — | — | — | — | — | — | ||||||||||||||
Other customer relationships | 124 | 6 | (13) | — | (22) | 95 | ||||||||||||||
Present value of future profits | 2 | — | — | — | — | 2 | ||||||||||||||
Indefinite-lived intangible assets | 183 | — | — | — | 3 | 186 | ||||||||||||||
Other | 11 | 30 | (17) | — | (1) | 23 | ||||||||||||||
Intangible assets (excluding MSRs) | $ | 4,091 | $ | 39 | $ | (177) | $ | — | $ | (27) | $ | 3,926 | ||||||||
Mortgage servicing rights (MSRs)(3) | 404 | 600 | ||||||||||||||||||
Total intangible assets | $ | 4,495 | $ | 4,526 |
In millions of dollars | In millions of dollars | September 30, 2021 | December 31, 2020 | In millions of dollars | June 30, 2022 | December 31, 2021 | ||||||||||||||||
Commercial paper | Commercial paper | Commercial paper | ||||||||||||||||||||
Bank(1) | Bank(1) | $ | 10,017 | $ | 10,022 | Bank(1) | $ | 9,050 | $ | 9,026 | ||||||||||||
Broker-dealer and other(2) | Broker-dealer and other(2) | 6,995 | 7,988 | Broker-dealer and other(2) | 12,429 | 6,992 | ||||||||||||||||
Total commercial paper | Total commercial paper | $ | 17,012 | $ | 18,010 | Total commercial paper | $ | 21,479 | $ | 16,018 | ||||||||||||
Other borrowings(3) | Other borrowings(3) | 12,671 | 11,504 | Other borrowings(3) | 18,575 | 11,955 | ||||||||||||||||
Total | Total | $ | 29,683 | $ | 29,514 | Total | $ | 40,054 | $ | 27,973 |
In millions of dollars | September 30, 2021 | December 31, 2020 | ||||||
Citigroup Inc.(1) | $ | 170,104 | $ | 170,563 | ||||
Bank(2) | 24,715 | 44,742 | ||||||
Broker-dealer and other(3) | 63,455 | 56,381 | ||||||
Total | $ | 258,274 | $ | 271,686 |
In millions of dollars | June 30, 2022 | December 31, 2021 | ||||||
Citigroup Inc.(1) | $ | 167,874 | $ | 164,945 | ||||
Bank(2) | 18,799 | 23,567 | ||||||
Broker-dealer and other(3) | 70,752 | 65,862 | ||||||
Total | $ | 257,425 | $ | 254,374 |
Junior subordinated debentures owned by trust | ||||||||||||||||||||||||||
Trust | Issuance date | Securities issued | Liquidation value(1) | Coupon rate(2) | Common shares issued to parent | Amount | Maturity | Redeemable by issuer beginning | ||||||||||||||||||
In millions of dollars, except securities and share amounts | ||||||||||||||||||||||||||
Citigroup Capital III | Dec. 1996 | 194,053 | $ | 194 | 7.625 | % | 6,003 | $ | 200 | Dec. 1, 2036 | Not redeemable | |||||||||||||||
Citigroup Capital XIII | Sept. 2010 | 89,840,000 | 2,246 | 3 mo. LIBOR + 637 bps | 1,000 | 2,246 | Oct. 30, 2040 | Oct. 30, 2015 | ||||||||||||||||||
Citigroup Capital XVIII | Jun. 2007 | 99,901 | 135 | 3 mo. sterling LIBOR + 88.75 bps | 50 | 135 | Jun. 28, 2067 | Jun. 28, 2017 | ||||||||||||||||||
Total obligated | $ | 2,575 | $ | 2,581 |
Junior subordinated debentures owned by trust | ||||||||||||||||||||||||||
Trust | Issuance date | Securities issued | Liquidation value(1) | Coupon rate(2) | Common shares issued to parent | Amount | Maturity | Redeemable by issuer beginning | ||||||||||||||||||
In millions of dollars, except securities and share amounts | ||||||||||||||||||||||||||
Citigroup Capital III | Dec. 1996 | 194,053 | $ | 194 | 7.625 | % | 6,003 | $ | 200 | Dec. 1, 2036 | Not redeemable | |||||||||||||||
Citigroup Capital XIII | Oct. 2010 | 89,840,000 | 2,246 | 3 mo. LIBOR + 637 bps | 1,000 | 2,246 | Oct. 30, 2040 | Oct. 30, 2015 | ||||||||||||||||||
Total obligated | $ | 2,440 | $ | 2,446 |
In millions of dollars | In millions of dollars | Net unrealized gains (losses) on debt securities | Debt valuation adjustment (DVA)(1) | Cash flow hedges(2) | Benefit plans(3) | Foreign currency translation adjustment (CTA), net of hedges(4)(5) | Excluded component of fair value hedges | Accumulated other comprehensive income (loss) | In millions of dollars | Net unrealized gains (losses) on debt securities | Debt valuation adjustment (DVA)(1) | Cash flow hedges(2) | Benefit plans(3) | Foreign currency translation adjustment (CTA), net of hedges(4)(5) | Excluded component of fair value hedges | Accumulated other comprehensive income (loss) | ||||||||||||||||||||||||||||||
Three Months Ended September 30, 2021 | ||||||||||||||||||||||||||||||||||||||||||||||
Balance, June 30, 2021 | $ | 1,061 | $ | (1,523) | $ | 864 | $ | (6,063) | $ | (29,392) | $ | (67) | $ | (35,120) | ||||||||||||||||||||||||||||||||
Three Months Ended June 30, 2022 | Three Months Ended June 30, 2022 | |||||||||||||||||||||||||||||||||||||||||||||
Balance, March 31, 2022 | Balance, March 31, 2022 | $ | (4,891) | $ | (394) | $ | (1,440) | $ | (5,681) | $ | (31,180) | $ | 1 | $ | (43,585) | |||||||||||||||||||||||||||||||
Other comprehensive income before reclassifications | Other comprehensive income before reclassifications | (204) | (138) | 2 | 84 | (1,325) | 7 | (1,574) | Other comprehensive income before reclassifications | (1,612) | 1,968 | (515) | (271) | (1,975) | 4 | (2,401) | ||||||||||||||||||||||||||||||
Increase (decrease) due to amounts reclassified from AOCI | Increase (decrease) due to amounts reclassified from AOCI | (75) | 56 | (203) | 51 | 13 | 1 | (157) | Increase (decrease) due to amounts reclassified from AOCI | 111 | (1) | (151) | 182 | 345 | 5 | 491 | ||||||||||||||||||||||||||||||
Change, net of taxes | Change, net of taxes | $ | (279) | $ | (82) | $ | (201) | $ | 135 | $ | (1,312) | $ | 8 | $ | (1,731) | Change, net of taxes | $ | (1,501) | $ | 1,967 | $ | (666) | $ | (89) | $ | (1,630) | $ | 9 | $ | (1,910) | ||||||||||||||||
Balance at September 30, 2021 | $ | 782 | $ | (1,605) | $ | 663 | $ | (5,928) | $ | (30,704) | $ | (59) | $ | (36,851) | ||||||||||||||||||||||||||||||||
Nine Months Ended September 30, 2021 | ||||||||||||||||||||||||||||||||||||||||||||||
Balance, December 31, 2020 | $ | 3,320 | $ | (1,419) | $ | 1,593 | $ | (6,864) | $ | (28,641) | $ | (47) | $ | (32,058) | ||||||||||||||||||||||||||||||||
Balance at June 30, 2022 | Balance at June 30, 2022 | $ | (6,392) | $ | 1,573 | $ | (2,106) | $ | (5,770) | $ | (32,810) | $ | 10 | $ | (45,495) | |||||||||||||||||||||||||||||||
Six Months Ended June 30, 2022 | Six Months Ended June 30, 2022 | |||||||||||||||||||||||||||||||||||||||||||||
Balance, December 31, 2021 | Balance, December 31, 2021 | $ | (614) | $ | (1,187) | $ | 101 | $ | (5,852) | $ | (31,166) | $ | (47) | $ | (38,765) | |||||||||||||||||||||||||||||||
Other comprehensive income before reclassifications | Other comprehensive income before reclassifications | (2,101) | (295) | (318) | 773 | (2,076) | (14) | (4,031) | Other comprehensive income before reclassifications | (5,895) | 2,761 | (1,839) | 21 | (1,989) | 50 | (6,891) | ||||||||||||||||||||||||||||||
Increase (decrease) due to amounts reclassified from AOCI | Increase (decrease) due to amounts reclassified from AOCI | (437) | 109 | (612) | 163 | 13 | 2 | (762) | Increase (decrease) due to amounts reclassified from AOCI | 117 | (1) | (368) | 61 | 345 | 7 | 161 | ||||||||||||||||||||||||||||||
Change, net of taxes | Change, net of taxes | $ | (2,538) | $ | (186) | $ | (930) | $ | 936 | $ | (2,063) | $ | (12) | $ | (4,793) | Change, net of taxes | $ | (5,778) | $ | 2,760 | $ | (2,207) | $ | 82 | $ | (1,644) | $ | 57 | $ | (6,730) | ||||||||||||||||
Balance at September 30, 2021 | $ | 782 | $ | (1,605) | $ | 663 | $ | (5,928) | $ | (30,704) | $ | (59) | $ | (36,851) | ||||||||||||||||||||||||||||||||
Balance at June 30, 2022 | Balance at June 30, 2022 | $ | (6,392) | $ | 1,573 | $ | (2,106) | $ | (5,770) | $ | (32,810) | $ | 10 | $ | (45,495) |
In millions of dollars | In millions of dollars | Net unrealized gains (losses) on investment securities | Debt valuation adjustment (DVA)(1) | Cash flow hedges(2) | Benefit plans(3) | Foreign currency translation adjustment (CTA), net of hedges(4) | Excluded component of fair value hedges | Accumulated other comprehensive income (loss) | In millions of dollars | Net unrealized gains (losses) on debt securities | Debt valuation adjustment (DVA)(1) | Cash flow hedges(2) | Benefit plans(3) | Foreign currency translation adjustment (CTA), net of hedges(4) | Excluded component of fair value hedges | Accumulated other comprehensive income (loss) | ||||||||||||||||||||||||||||||
Three Months Ended September 30, 2020 | ||||||||||||||||||||||||||||||||||||||||||||||
Balance, June 30, 2020 | $ | 3,700 | $ | (36) | $ | 2,094 | $ | (7,172) | $ | (31,939) | $ | 8 | $ | (33,345) | ||||||||||||||||||||||||||||||||
Three Months Ended June 30, 2021 | Three Months Ended June 30, 2021 | |||||||||||||||||||||||||||||||||||||||||||||
Balance, March 31, 2021 | Balance, March 31, 2021 | $ | 1,535 | $ | (1,461) | $ | 1,037 | $ | (6,150) | $ | (29,915) | $ | (57) | $ | (35,011) | |||||||||||||||||||||||||||||||
Other comprehensive income before reclassifications | Other comprehensive income before reclassifications | (72) | (313) | (41) | 189 | 897 | (39) | 621 | Other comprehensive income before reclassifications | (379) | (72) | 28 | 36 | 523 | (11) | 125 | ||||||||||||||||||||||||||||||
Increase (decrease) due to amounts reclassified from AOCI | Increase (decrease) due to amounts reclassified from AOCI | (210) | 6 | (194) | 57 | — | — | (341) | Increase (decrease) due to amounts reclassified from AOCI | (95) | 10 | (201) | 51 | — | 1 | (234) | ||||||||||||||||||||||||||||||
Change, net of taxes | Change, net of taxes | $ | (282) | $ | (307) | $ | (235) | $ | 246 | $ | 897 | $ | (39) | $ | 280 | Change, net of taxes | $ | (474) | $ | (62) | $ | (173) | $ | 87 | $ | 523 | $ | (10) | $ | (109) | ||||||||||||||||
Balance at September 30, 2020 | $ | 3,418 | $ | (343) | $ | 1,859 | $ | (6,926) | $ | (31,042) | $ | (31) | $ | (33,065) | ||||||||||||||||||||||||||||||||
Nine Months Ended September 30, 2020 | ||||||||||||||||||||||||||||||||||||||||||||||
Balance, December 31, 2019 | $ | (265) | $ | (944) | $ | 123 | $ | (6,809) | $ | (28,391) | $ | (32) | $ | (36,318) | ||||||||||||||||||||||||||||||||
Balance at June 30, 2021 | Balance at June 30, 2021 | $ | 1,061 | $ | (1,523) | $ | 864 | $ | (6,063) | $ | (29,392) | $ | (67) | $ | (35,120) | |||||||||||||||||||||||||||||||
Six Months Ended June 30, 2021 | Six Months Ended June 30, 2021 | |||||||||||||||||||||||||||||||||||||||||||||
Balance, December 31, 2020 | Balance, December 31, 2020 | $ | 3,320 | $ | (1,419) | $ | 1,593 | $ | (6,864) | $ | (28,641) | $ | (47) | $ | (32,058) | |||||||||||||||||||||||||||||||
Other comprehensive income before reclassifications | Other comprehensive income before reclassifications | 4,735 | 599 | 2,083 | (287) | (2,651) | 1 | 4,480 | Other comprehensive income before reclassifications | (1,898) | (156) | (316) | 689 | (751) | (21) | (2,453) | ||||||||||||||||||||||||||||||
Increase (decrease) due to amounts reclassified from AOCI | Increase (decrease) due to amounts reclassified from AOCI | (1,052) | 2 | (347) | 170 | — | — | (1,227) | Increase (decrease) due to amounts reclassified from AOCI | (361) | 52 | (413) | 112 | — | 1 | (609) | ||||||||||||||||||||||||||||||
Change, net of taxes | Change, net of taxes | $ | 3,683 | $ | 601 | $ | 1,736 | $ | (117) | $ | (2,651) | $ | 1 | $ | 3,253 | Change, net of taxes | $ | (2,259) | $ | (104) | $ | (729) | $ | 801 | $ | (751) | $ | (20) | $ | (3,062) | ||||||||||||||||
Balance at September 30, 2020 | $ | 3,418 | $ | (343) | $ | 1,859 | $ | (6,926) | $ | (31,042) | $ | (31) | $ | (33,065) | ||||||||||||||||||||||||||||||||
Balance at June 30, 2021 | Balance at June 30, 2021 | $ | 1,061 | $ | (1,523) | $ | 864 | $ | (6,063) | $ | (29,392) | $ | (67) | $ | (35,120) |
In millions of dollars | Pretax | Tax effect | After-tax | ||||||||
Three Months Ended September 30, 2021 | |||||||||||
Balance, June 30, 2021 | $ | (41,087) | $ | 5,967 | $ | (35,120) | |||||
Change in net unrealized gains (losses) on debt securities | (374) | 95 | (279) | ||||||||
Debt valuation adjustment (DVA) | (107) | 25 | (82) | ||||||||
Cash flow hedges | (265) | 64 | (201) | ||||||||
Benefit plans | 175 | (40) | 135 | ||||||||
Foreign currency translation adjustment | (1,325) | 13 | (1,312) | ||||||||
Excluded component of fair value hedges | 12 | (4) | 8 | ||||||||
Change | $ | (1,884) | $ | 153 | $ | (1,731) | |||||
Balance at September 30, 2021 | $ | (42,971) | $ | 6,120 | $ | (36,851) | |||||
Nine Months Ended September 30, 2021 | |||||||||||
Balance, December 31, 2020 | $ | (36,992) | $ | 4,934 | $ | (32,058) | |||||
Change in net unrealized gains (losses) on debt securities | (3,439) | 901 | (2,538) | ||||||||
Debt valuation adjustment (DVA) | (256) | 70 | (186) | ||||||||
Cash flow hedges | (1,219) | 289 | (930) | ||||||||
Benefit plans | 1,166 | (230) | 936 | ||||||||
Foreign currency translation adjustment | (2,217) | 154 | (2,063) | ||||||||
Excluded component of fair value hedges | (14) | 2 | (12) | ||||||||
Change | $ | (5,979) | $ | 1,186 | $ | (4,793) | |||||
Balance at September 30, 2021 | $ | (42,971) | $ | 6,120 | $ | (36,851) |
In millions of dollars | Pretax | Tax effect | After-tax | ||||||||
Three Months Ended June 30, 2022 | |||||||||||
Balance, March 31, 2022 | $ | (51,807) | $ | 8,222 | $ | (43,585) | |||||
Change in net unrealized gains (losses) on debt securities | (1,990) | 489 | (1,501) | ||||||||
Debt valuation adjustment (DVA) | 2,592 | (625) | 1,967 | ||||||||
Cash flow hedges | (886) | 220 | (666) | ||||||||
Benefit plans | (73) | (16) | (89) | ||||||||
Foreign currency translation adjustment | (1,414) | (216) | (1,630) | ||||||||
Excluded component of fair value hedges | 12 | (3) | 9 | ||||||||
Change | $ | (1,759) | $ | (151) | $ | (1,910) | |||||
Balance at June 30, 2022 | $ | (53,566) | $ | 8,071 | $ | (45,495) | |||||
Six Months Ended June 30, 2022 | |||||||||||
Balance, December 31, 2021 | $ | (45,383) | $ | 6,618 | $ | (38,765) | |||||
Change in net unrealized gains (losses) on debt securities | (7,614) | 1,836 | (5,778) | ||||||||
Debt valuation adjustment (DVA) | 3,642 | (882) | 2,760 | ||||||||
Cash flow hedges | (2,908) | 701 | (2,207) | ||||||||
Benefit plans | 104 | (22) | 82 | ||||||||
Foreign currency translation adjustment | (1,483) | (161) | (1,644) | ||||||||
Excluded component of fair value hedges | 76 | (19) | 57 | ||||||||
Change | $ | (8,183) | $ | 1,453 | $ | (6,730) | |||||
Balance at June 30, 2022 | $ | (53,566) | $ | 8,071 | $ | (45,495) |
In millions of dollars | Pretax | Tax effect | After-tax | ||||||||
Three Months Ended September 30, 2020 | |||||||||||
Balance, June 30, 2020 | $ | (37,678) | $ | 4,333 | $ | (33,345) | |||||
Change in net unrealized gains (losses) on debt securities | (393) | 111 | (282) | ||||||||
Debt valuation adjustment (DVA) | (452) | 145 | (307) | ||||||||
Cash flow hedges | (307) | 72 | (235) | ||||||||
Benefit plans | 344 | (98) | 246 | ||||||||
Foreign currency translation adjustment | 918 | (21) | 897 | ||||||||
Excluded component of fair value hedges | (51) | 12 | (39) | ||||||||
Change | $ | 59 | $ | 221 | $ | 280 | |||||
Balance, September 30, 2020 | $ | (37,619) | $ | 4,554 | $ | (33,065) | |||||
Nine Months Ended September 30, 2020 | |||||||||||
Balance, December 31, 2019 | $ | (42,772) | $ | 6,454 | $ | (36,318) | |||||
Change in net unrealized gains (losses) on debt securities | 4,905 | (1,222) | 3,683 | ||||||||
Debt valuation adjustment (DVA) | 801 | (200) | 601 | ||||||||
Cash flow hedges | 2,267 | (531) | 1,736 | ||||||||
Benefit plans | (166) | 49 | (117) | ||||||||
Foreign currency translation adjustment | (2,652) | 1 | (2,651) | ||||||||
Excluded component of fair value hedges | (2) | 3 | 1 | ||||||||
Change | $ | 5,153 | $ | (1,900) | $ | 3,253 | |||||
Balance, September 30, 2020 | $ | (37,619) | $ | 4,554 | $ | (33,065) |
In millions of dollars | Pretax | Tax effect | After-tax | ||||||||
Three Months Ended June 30, 2021 | |||||||||||
Balance, March 31, 2021 | $ | (40,631) | $ | 5,620 | $ | (35,011) | |||||
Change in net unrealized gains (losses) on debt securities | (638) | 164 | (474) | ||||||||
Debt valuation adjustment (DVA) | (110) | 48 | (62) | ||||||||
Cash flow hedges | (224) | 51 | (173) | ||||||||
Benefit plans | 84 | 3 | 87 | ||||||||
Foreign currency translation adjustment | 445 | 78 | 523 | ||||||||
Excluded component of fair value hedges | (13) | 3 | (10) | ||||||||
Change | $ | (456) | $ | 347 | $ | (109) | |||||
Balance, June 30, 2021 | $ | (41,087) | $ | 5,967 | $ | (35,120) | |||||
Six Months Ended June 30, 2021 | |||||||||||
Balance, December 31, 2020 | $ | (36,992) | $ | 4,934 | $ | (32,058) | |||||
Change in net unrealized gains (losses) on debt securities | (3,065) | 806 | (2,259) | ||||||||
Debt valuation adjustment (DVA) | (148) | 44 | (104) | ||||||||
Cash flow hedges | (953) | 224 | (729) | ||||||||
Benefit plans | 991 | (190) | 801 | ||||||||
Foreign currency translation adjustment | (894) | 143 | (751) | ||||||||
Excluded component of fair value hedges | (26) | 6 | (20) | ||||||||
Change | $ | (4,095) | $ | 1,033 | $ | (3,062) | |||||
Balance, June 30, 2021 | $ | (41,087) | $ | 5,967 | $ | (35,120) |
Increase (decrease) in AOCI due to amounts reclassified to Consolidated Statement of Income | Increase (decrease) in AOCI due to amounts reclassified to Consolidated Statement of Income | |||||||||||||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||||||||||||
In millions of dollars | In millions of dollars | 2021 | 2020 | 2021 | 2020 | In millions of dollars | 2022 | 2021 | 2022 | 2021 | ||||||||||||||||||
Realized (gains) losses on sales of investments | Realized (gains) losses on sales of investments | $ | (117) | $ | (304) | $ | (655) | $ | (1,484) | Realized (gains) losses on sales of investments | $ | 58 | $ | (137) | $ | (22) | $ | (538) | ||||||||||
Gross impairment losses | Gross impairment losses | 21 | 30 | 99 | 101 | Gross impairment losses | 90 | 9 | 180 | 78 | ||||||||||||||||||
Subtotal, pretax | Subtotal, pretax | $ | (96) | $ | (274) | $ | (556) | $ | (1,383) | Subtotal, pretax | $ | 148 | $ | (128) | $ | 158 | $ | (460) | ||||||||||
Tax effect | Tax effect | 21 | 64 | 119 | 331 | Tax effect | (37) | 33 | (41) | 99 | ||||||||||||||||||
Net realized (gains) losses on investments after-tax(1) | Net realized (gains) losses on investments after-tax(1) | $ | (75) | $ | (210) | $ | (437) | $ | (1,052) | Net realized (gains) losses on investments after-tax(1) | $ | 111 | $ | (95) | $ | 117 | $ | (361) | ||||||||||
Realized DVA (gains) losses on fair value option liabilities, pretax | Realized DVA (gains) losses on fair value option liabilities, pretax | $ | 72 | $ | 8 | $ | 141 | $ | 3 | Realized DVA (gains) losses on fair value option liabilities, pretax | $ | (1) | $ | 13 | $ | (1) | $ | 69 | ||||||||||
Tax effect | Tax effect | (16) | (2) | (32) | (1) | Tax effect | — | (3) | — | (17) | ||||||||||||||||||
Net realized debt valuation adjustment, after-tax | $ | 56 | $ | 6 | $ | 109 | $ | 2 | ||||||||||||||||||||
Net realized DVA, after-tax | Net realized DVA, after-tax | $ | (1) | $ | 10 | $ | (1) | $ | 52 | |||||||||||||||||||
Interest rate contracts | Interest rate contracts | $ | (269) | $ | (256) | $ | (809) | $ | (459) | Interest rate contracts | $ | (199) | $ | (266) | $ | (485) | $ | (544) | ||||||||||
Foreign exchange contracts | Foreign exchange contracts | 1 | 1 | 3 | 3 | Foreign exchange contracts | 1 | 1 | 2 | 2 | ||||||||||||||||||
Subtotal, pretax | Subtotal, pretax | $ | (268) | $ | (255) | $ | (806) | $ | (456) | Subtotal, pretax | $ | (198) | $ | (265) | $ | (483) | $ | (542) | ||||||||||
Tax effect | Tax effect | 65 | 61 | 194 | 109 | Tax effect | 47 | 64 | 115 | 129 | ||||||||||||||||||
Amortization of cash flow hedges, after-tax(2) | Amortization of cash flow hedges, after-tax(2) | $ | (203) | $ | (194) | $ | (612) | $ | (347) | Amortization of cash flow hedges, after-tax(2) | $ | (151) | $ | (201) | $ | (368) | $ | (413) | ||||||||||
Amortization of unrecognized: | Amortization of unrecognized: | Amortization of unrecognized: | ||||||||||||||||||||||||||
Prior service cost (benefit) | Prior service cost (benefit) | $ | (5) | $ | (4) | $ | (17) | $ | (10) | Prior service cost (benefit) | $ | (5) | $ | (6) | $ | (11) | $ | (12) | ||||||||||
Net actuarial loss | Net actuarial loss | 74 | 85 | 232 | 239 | Net actuarial loss | 58 | 71 | 128 | 158 | ||||||||||||||||||
Curtailment/settlement impact(3) | Curtailment/settlement impact(3) | 1 | (5) | 5 | (2) | Curtailment/settlement impact(3) | 183 | 4 | (33) | 4 | ||||||||||||||||||
Subtotal, pretax | Subtotal, pretax | $ | 70 | $ | 76 | $ | 220 | $ | 227 | Subtotal, pretax | $ | 236 | $ | 69 | $ | 84 | $ | 150 | ||||||||||
Tax effect | Tax effect | (19) | (19) | (57) | (57) | Tax effect | (54) | (18) | (23) | (38) | ||||||||||||||||||
Amortization of benefit plans, after-tax(3) | Amortization of benefit plans, after-tax(3) | $ | 51 | $ | 57 | $ | 163 | $ | 170 | Amortization of benefit plans, after-tax(3) | $ | 182 | $ | 51 | $ | 61 | $ | 112 | ||||||||||
Excluded component of fair value hedges, pretax | Excluded component of fair value hedges, pretax | $ | 1 | $ | — | $ | 2 | $ | — | Excluded component of fair value hedges, pretax | $ | 7 | $ | 1 | $ | 10 | $ | 1 | ||||||||||
Tax effect | Tax effect | — | — | — | — | Tax effect | (2) | — | (3) | — | ||||||||||||||||||
Excluded component of fair value hedges, after-tax | Excluded component of fair value hedges, after-tax | $ | 1 | $ | — | $ | 2 | $ | — | Excluded component of fair value hedges, after-tax | $ | 5 | $ | 1 | $ | 7 | $ | 1 | ||||||||||
Foreign currency translation adjustment, pretax | Foreign currency translation adjustment, pretax | $ | 20 | $ | — | $ | 20 | $ | — | Foreign currency translation adjustment, pretax | $ | 397 | $ | — | $ | 397 | $ | — | ||||||||||
Tax effect | Tax effect | (7) | — | (7) | — | Tax effect | (52) | — | (52) | — | ||||||||||||||||||
Foreign currency translation adjustment, after-tax | Foreign currency translation adjustment, after-tax | $ | 13 | $ | — | $ | 13 | $ | — | Foreign currency translation adjustment, after-tax | $ | 345 | $ | — | $ | 345 | $ | — | ||||||||||
Total amounts reclassified out of AOCI, pretax | Total amounts reclassified out of AOCI, pretax | $ | (201) | $ | (445) | $ | (979) | $ | (1,609) | Total amounts reclassified out of AOCI, pretax | $ | 589 | $ | (310) | $ | 165 | $ | (782) | ||||||||||
Total tax effect | Total tax effect | 44 | 104 | 217 | 382 | Total tax effect | (98) | 76 | (4) | 173 | ||||||||||||||||||
Total amounts reclassified out of AOCI, after-tax | Total amounts reclassified out of AOCI, after-tax | $ | (157) | $ | (341) | $ | (762) | $ | (1,227) | Total amounts reclassified out of AOCI, after-tax | $ | 491 | $ | (234) | $ | 161 | $ | (609) |
As of September 30, 2021 | As of June 30, 2022 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Maximum exposure to loss in significant unconsolidated VIEs(1) | Maximum exposure to loss in significant unconsolidated VIEs(1) | |||||||||||||||||||||||||||||||||||||||||||||||||||
Funded exposures(2) | Unfunded exposures | Funded exposures(2) | Unfunded exposures | |||||||||||||||||||||||||||||||||||||||||||||||||
In millions of dollars | In millions of dollars | Total involvement with SPE assets | Consolidated VIE/SPE assets | Significant unconsolidated VIE assets(3) | Debt investments | Equity investments | Funding commitments | Guarantees and derivatives | Total | In millions of dollars | Total involvement with SPE assets | Consolidated VIE/SPE assets | Significant unconsolidated VIE assets(3) | Debt investments | Equity investments | Funding commitments | Guarantees and derivatives | Total | ||||||||||||||||||||||||||||||||||
Credit card securitizations | Credit card securitizations | $ | 30,343 | $ | 30,343 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | Credit card securitizations | $ | 31,266 | $ | 31,266 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||
Mortgage securitizations(4) | Mortgage securitizations(4) | Mortgage securitizations(4) | ||||||||||||||||||||||||||||||||||||||||||||||||||
U.S. agency-sponsored | U.S. agency-sponsored | 114,519 | — | 114,519 | 1,537 | — | — | 47 | 1,584 | U.S. agency-sponsored | 115,494 | — | 115,494 | 2,100 | — | — | 51 | 2,151 | ||||||||||||||||||||||||||||||||||
Non-agency-sponsored | Non-agency-sponsored | 59,584 | 677 | 58,907 | 2,327 | — | 1 | — | 2,328 | Non-agency-sponsored | 60,155 | — | 60,155 | 2,747 | — | 5 | — | 2,752 | ||||||||||||||||||||||||||||||||||
Citi-administered asset-backed commercial paper conduits | Citi-administered asset-backed commercial paper conduits | 12,460 | 12,460 | — | — | — | — | — | — | Citi-administered asset-backed commercial paper conduits | 14,291 | 14,291 | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||
Collateralized loan obligations (CLOs) | Collateralized loan obligations (CLOs) | 10,094 | — | 10,094 | 3,254 | — | — | — | 3,254 | Collateralized loan obligations (CLOs) | 8,259 | — | 8,259 | 2,599 | — | — | — | 2,599 | ||||||||||||||||||||||||||||||||||
Asset-based financing(5) | Asset-based financing(5) | 279,044 | 11,106 | 267,938 | 29,033 | 1,283 | 11,008 | — | 41,324 | Asset-based financing(5) | 246,990 | 9,439 | 237,551 | 36,051 | 1,088 | 11,639 | — | 48,778 | ||||||||||||||||||||||||||||||||||
Municipal securities tender option bond trusts (TOBs) | Municipal securities tender option bond trusts (TOBs) | 3,320 | 909 | 2,411 | 16 | — | 1,529 | — | 1,545 | Municipal securities tender option bond trusts (TOBs) | 2,839 | 678 | 2,161 | 8 | — | 1,571 | — | 1,579 | ||||||||||||||||||||||||||||||||||
Municipal investments | Municipal investments | 21,078 | 3 | 21,075 | 2,677 | 3,706 | 3,558 | — | 9,941 | Municipal investments | 22,191 | 3 | 22,188 | 2,673 | 3,368 | 4,010 | — | 10,051 | ||||||||||||||||||||||||||||||||||
Client intermediation | Client intermediation | 872 | 280 | 592 | 75 | — | — | 206 | 281 | Client intermediation | 810 | 373 | 437 | 66 | — | — | 63 | 129 | ||||||||||||||||||||||||||||||||||
Investment funds | Investment funds | 523 | 192 | 331 | 1 | — | 13 | 5 | 19 | Investment funds | 385 | 84 | 301 | 2 | 2 | 20 | 1 | 25 | ||||||||||||||||||||||||||||||||||
Other | Other | — | — | — | — | — | — | — | — | Other | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||
Total | Total | $ | 531,837 | $ | 55,970 | $ | 475,867 | $ | 38,920 | $ | 4,989 | $ | 16,109 | $ | 258 | $ | 60,276 | Total | $ | 502,680 | $ | 56,134 | $ | 446,546 | $ | 46,246 | $ | 4,458 | $ | 17,245 | $ | 115 | $ | 68,064 |
As of December 31, 2020 | As of December 31, 2021 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Maximum exposure to loss in significant unconsolidated VIEs(1) | Maximum exposure to loss in significant unconsolidated VIEs(1) | |||||||||||||||||||||||||||||||||||||||||||||||||||
Funded exposures(2) | Unfunded exposures | Funded exposures(2) | Unfunded exposures | |||||||||||||||||||||||||||||||||||||||||||||||||
In millions of dollars | In millions of dollars | Total involvement with SPE assets | Consolidated VIE/SPE assets | Significant unconsolidated VIE assets(3) | Debt investments | Equity investments | Funding commitments | Guarantees and derivatives | Total | In millions of dollars | Total involvement with SPE assets | Consolidated VIE/SPE assets | Significant unconsolidated VIE assets(3) | Debt investments | Equity investments | Funding commitments | Guarantees and derivatives | Total | ||||||||||||||||||||||||||||||||||
Credit card securitizations | Credit card securitizations | $ | 32,420 | $ | 32,420 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | Credit card securitizations | $ | 31,518 | $ | 31,518 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||
Mortgage securitizations(4) | Mortgage securitizations(4) | Mortgage securitizations(4) | ||||||||||||||||||||||||||||||||||||||||||||||||||
U.S. agency-sponsored | U.S. agency-sponsored | 123,999 | — | 123,999 | 1,948 | — | — | 61 | 2,009 | U.S. agency-sponsored | 113,641 | — | 113,641 | 1,582 | — | — | 43 | 1,625 | ||||||||||||||||||||||||||||||||||
Non-agency-sponsored | Non-agency-sponsored | 46,132 | 939 | 45,193 | 2,550 | — | 2 | 1 | 2,553 | Non-agency-sponsored | 60,851 | 632 | 60,219 | 2,479 | — | 5 | — | 2,484 | ||||||||||||||||||||||||||||||||||
Citi-administered asset-backed commercial paper conduits | Citi-administered asset-backed commercial paper conduits | 16,730 | 16,730 | — | — | — | — | — | — | Citi-administered asset-backed commercial paper conduits | 14,018 | 14,018 | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||
Collateralized loan obligations (CLOs) | Collateralized loan obligations (CLOs) | 18,332 | — | 18,332 | 4,273 | — | — | — | 4,273 | Collateralized loan obligations (CLOs) | 8,302 | — | 8,302 | 2,636 | — | — | — | 2,636 | ||||||||||||||||||||||||||||||||||
Asset-based financing(5) | Asset-based financing(5) | 222,274 | 8,069 | 214,205 | 25,153 | 1,587 | 9,114 | — | 35,854 | Asset-based financing(5) | 246,632 | 11,085 | 235,547 | 32,242 | 1,139 | 12,189 | — | 45,570 | ||||||||||||||||||||||||||||||||||
Municipal securities tender option bond trusts (TOBs) | Municipal securities tender option bond trusts (TOBs) | 3,349 | 835 | 2,514 | — | — | 1,611 | — | 1,611 | Municipal securities tender option bond trusts (TOBs) | 3,251 | 905 | 2,346 | 2 | — | 1,498 | — | 1,500 | ||||||||||||||||||||||||||||||||||
Municipal investments | Municipal investments | 20,335 | — | 20,335 | 2,569 | 4,056 | 3,041 | — | 9,666 | Municipal investments | 20,597 | 3 | 20,594 | 2,512 | 3,617 | 3,562 | — | 9,691 | ||||||||||||||||||||||||||||||||||
Client intermediation | Client intermediation | 1,352 | 910 | 442 | 88 | — | — | 56 | 144 | Client intermediation | 904 | 297 | 607 | 75 | — | — | 224 | 299 | ||||||||||||||||||||||||||||||||||
Investment funds | Investment funds | 488 | 153 | 335 | — | — | 15 | — | 15 | Investment funds | 498 | 179 | 319 | — | — | 12 | 1 | 13 | ||||||||||||||||||||||||||||||||||
Other | Other | — | — | — | — | — | — | — | — | Other | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||
Total | Total | $ | 485,411 | $ | 60,056 | $ | 425,355 | $ | 36,581 | $ | 5,643 | $ | 13,783 | $ | 118 | $ | 56,125 | Total | $ | 500,212 | $ | 58,637 | $ | 441,575 | $ | 41,528 | $ | 4,756 | $ | 17,266 | $ | 268 | $ | 63,818 |
September 30, 2021 | December 31, 2020 | June 30, 2022 | December 31, 2021 | |||||||||||||||||||||||||
In millions of dollars | In millions of dollars | Liquidity facilities | Loan/equity commitments | Liquidity facilities | Loan/equity commitments | In millions of dollars | Liquidity facilities | Loan/equity commitments | Liquidity facilities | Loan/equity commitments | ||||||||||||||||||
Non-agency-sponsored mortgage securitizations | Non-agency-sponsored mortgage securitizations | $ | — | $ | 1 | $ | — | $ | 2 | Non-agency-sponsored mortgage securitizations | $ | — | $ | 5 | $ | — | $ | 5 | ||||||||||
Asset-based financing | Asset-based financing | — | 11,008 | — | 9,114 | Asset-based financing | — | 11,639 | — | 12,189 | ||||||||||||||||||
Municipal securities tender option bond trusts (TOBs) | Municipal securities tender option bond trusts (TOBs) | 1,529 | — | 1,611 | — | Municipal securities tender option bond trusts (TOBs) | 1,571 | — | 1,498 | — | ||||||||||||||||||
Municipal investments | Municipal investments | — | 3,558 | — | 3,041 | Municipal investments | — | 4,010 | — | 3,562 | ||||||||||||||||||
Investment funds | Investment funds | — | 13 | — | 15 | Investment funds | — | 20 | — | 12 | ||||||||||||||||||
Other | Other | — | — | — | — | Other | — | — | — | — | ||||||||||||||||||
Total funding commitments | Total funding commitments | $ | 1,529 | $ | 14,580 | $ | 1,611 | $ | 12,172 | Total funding commitments | $ | 1,571 | $ | 15,674 | $ | 1,498 | $ | 15,768 |
In billions of dollars | In billions of dollars | September 30, 2021 | December 31, 2020 | In billions of dollars | June 30, 2022 | December 31, 2021 | ||||||||||
Cash | Cash | $ | — | $ | — | Cash | $ | — | $ | — | ||||||
Trading account assets | Trading account assets | 1.4 | 2.0 | Trading account assets | 1.8 | 1.4 | ||||||||||
Investments | Investments | 9.3 | 10.6 | Investments | 8.9 | 8.8 | ||||||||||
Total loans, net of allowance | Total loans, net of allowance | 32.3 | 29.3 | Total loans, net of allowance | 39.6 | 35.4 | ||||||||||
Other | Other | 0.9 | 0.3 | Other | 0.5 | 0.8 | ||||||||||
Total assets | Total assets | $ | 43.9 | $ | 42.2 | Total assets | $ | 50.8 | $ | 46.4 |
In billions of dollars | In billions of dollars | September 30, 2021 | December 31, 2020 | In billions of dollars | June 30, 2022 | December 31, 2021 | Ownership interests in principal amount of trust credit card receivables | |||||||||
Sold to investors via trust-issued securities | Sold to investors via trust-issued securities | $ | 11.0 | $ | 15.7 | Sold to investors via trust-issued securities | $ | 9.7 | $ | 9.7 | ||||||
Retained by Citigroup as trust-issued securities | Retained by Citigroup as trust-issued securities | 7.2 | 7.9 | Retained by Citigroup as trust-issued securities | 6.5 | 7.2 | ||||||||||
Retained by Citigroup via non-certificated interests | Retained by Citigroup via non-certificated interests | 13.9 | 11.1 | Retained by Citigroup via non-certificated interests | 16.9 | 16.1 | ||||||||||
Total | Total | $ | 32.1 | $ | 34.7 | Total | $ | 33.1 | $ | 33.0 |
Three Months Ended September 30, | Nine Months Ended September 30, | Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||||||||||||
In billions of dollars | In billions of dollars | 2021 | 2020 | 2021 | 2020 | In billions of dollars | 2022 | 2021 | 2022 | 2021 | ||||||||||||||||||
Proceeds from new securitizations | Proceeds from new securitizations | $ | — | $ | — | $ | — | $ | — | Proceeds from new securitizations | $ | — | $ | — | $ | — | $ | — | ||||||||||
Pay down of maturing notes | Pay down of maturing notes | — | (1.1) | (4.7) | (4.3) | Pay down of maturing notes | — | (1.1) | — | (4.7) |
In billions of dollars | In billions of dollars | Sept. 30, 2021 | Dec. 31, 2020 | In billions of dollars | Jun. 30, 2022 | Dec. 31, 2021 | ||||||||||
Term notes issued to third parties | Term notes issued to third parties | $ | 9.7 | $ | 13.9 | Term notes issued to third parties | $ | 8.4 | $ | 8.4 | ||||||
Term notes retained by Citigroup affiliates | Term notes retained by Citigroup affiliates | 2.2 | 2.7 | Term notes retained by Citigroup affiliates | 1.7 | 2.2 | ||||||||||
Total Master Trust liabilities | Total Master Trust liabilities | $ | 11.9 | $ | 16.6 | Total Master Trust liabilities | $ | 10.1 | $ | 10.6 |
In billions of dollars | In billions of dollars | Sept. 30, 2021 | Dec. 31, 2020 | In billions of dollars | Jun. 30, 2022 | Dec. 31, 2021 | ||||||||||
Term notes issued to third parties | Term notes issued to third parties | $ | 1.3 | $ | 1.8 | Term notes issued to third parties | $ | 1.3 | $ | 1.3 | ||||||
Term notes retained by Citigroup affiliates | Term notes retained by Citigroup affiliates | 5.0 | 5.2 | Term notes retained by Citigroup affiliates | 4.8 | 5.0 | ||||||||||
Total Omni Trust liabilities | Total Omni Trust liabilities | $ | 6.3 | $ | 7.0 | Total Omni Trust liabilities | $ | 6.1 | $ | 6.3 |
Three Months Ended September 30, | ||||||||||||||
2021 | 2020 | |||||||||||||
In billions of dollars | U.S. agency- sponsored mortgages | Non-agency- sponsored mortgages | U.S. agency- sponsored mortgages | Non-agency- sponsored mortgages | ||||||||||
Principal securitized | $ | 0.5 | $ | 1.7 | $ | 2.7 | $ | 2.9 | ||||||
Proceeds from new securitizations | 0.5 | 1.9 | 2.9 | 4.5 | ||||||||||
Purchases of previously transferred financial assets | — | — | 0.2 | — | ||||||||||
Nine Months Ended September 30, | Three Months Ended June 30, | |||||||||||||||||||||||||||
2021 | 2020 | 2022 | 2021 | |||||||||||||||||||||||||
In billions of dollars | In billions of dollars | U.S. agency- sponsored mortgages | Non-agency- sponsored mortgages | U.S. agency- sponsored mortgages | Non-agency- sponsored mortgages | In billions of dollars | U.S. agency- sponsored mortgages | Non-agency- sponsored mortgages | U.S. agency- sponsored mortgages | Non-agency- sponsored mortgages | ||||||||||||||||||
Principal securitized | Principal securitized | $ | 5.4 | $ | 19.8 | $ | 7.2 | $ | 5.4 | Principal securitized | $ | 1.9 | $ | 8.6 | $ | 1.9 | $ | 7.1 | ||||||||||
Proceeds from new securitizations | Proceeds from new securitizations | 5.6 | 19.7 | 7.6 | 7.9 | Proceeds from new securitizations | 1.8 | 8.4 | 1.9 | 7.2 | ||||||||||||||||||
Contractual servicing fees received | Contractual servicing fees received | 0.1 | — | 0.1 | — | Contractual servicing fees received | — | — | — | — | ||||||||||||||||||
Cash flows received on retained interests and other new cash flows | Cash flows received on retained interests and other new cash flows | — | — | — | — | |||||||||||||||||||||||
Purchases of previously transferred financial assets | Purchases of previously transferred financial assets | 0.1 | — | 0.3 | — | Purchases of previously transferred financial assets | — | — | — | — | ||||||||||||||||||
Six Months Ended June 30, | ||||||||||||||||||||||||||||
2022 | 2021 | |||||||||||||||||||||||||||
In billions of dollars | In billions of dollars | U.S. agency- sponsored mortgages | Non-agency- sponsored mortgages | U.S. agency- sponsored mortgages | Non-agency- sponsored mortgages | |||||||||||||||||||||||
Principal securitized | Principal securitized | $ | 4.0 | $ | 10.2 | $ | 4.9 | $ | 18.1 | |||||||||||||||||||
Proceeds from new securitizations | Proceeds from new securitizations | 3.9 | 10.0 | 5.1 | 17.8 | |||||||||||||||||||||||
Purchases of previously transferred financial assets | Purchases of previously transferred financial assets | — | — | 0.1 | — |
September 30, 2021 | December 31, 2020 | June 30, 2022 | December 31, 2021 | |||||||||||||||||||||||||||||||||||||
Non-agency-sponsored mortgages(1) | Non-agency-sponsored mortgages(1) | Non-agency-sponsored mortgages(1) | Non-agency-sponsored mortgages(1) | |||||||||||||||||||||||||||||||||||||
In millions of dollars | In millions of dollars | U.S. agency- sponsored mortgages | Senior interests(2) | Subordinated interests | U.S. agency- sponsored mortgages | Senior interests | Subordinated interests | In millions of dollars | U.S. agency- sponsored mortgages | Senior interests(2) | Subordinated interests | U.S. agency- sponsored mortgages | Senior interests | Subordinated interests | ||||||||||||||||||||||||||
Carrying value of retained interests(3) | Carrying value of retained interests(3) | $ | 379 | $ | 1,777 | $ | 500 | $ | 315 | $ | 1,210 | $ | 145 | Carrying value of retained interests(3) | $ | 597 | $ | 1,172 | $ | 945 | $ | 374 | $ | 1,452 | $ | 955 |
Three Months Ended September 30, 2021 | |||||||||||
Non-agency-sponsored mortgages(1) | |||||||||||
U.S. agency- sponsored mortgages | Senior interests | Subordinated interests | |||||||||
Weighted average discount rate | 8.6 | % | 2.2 | % | 2.4 | % | |||||
Weighted average constant prepayment rate | 5.9 | % | 4.3 | % | 13.3 | % | |||||
Weighted average anticipated net credit losses(2) | NM | 0.8 | % | 0.2 | % | ||||||
Weighted average life | 7.4 years | 3.2 years | 4.9 years |
Three Months Ended September 30, 2020 | |||||||||||
Non-agency-sponsored mortgages(1) | |||||||||||
U.S. agency- sponsored mortgages | Senior interests | Subordinated interests | |||||||||
Weighted average discount rate | 3.5 | % | 1.8 | % | NM | ||||||
Weighted average constant prepayment rate | 29.7 | % | 2.5 | % | NM | ||||||
Weighted average anticipated net credit losses(2) | NM | 0.2 | % | NM | |||||||
Weighted average life | 4.2 years | 3.9 years | NM |
Nine Months Ended September 30, 2021 | |||||||||||
Non-agency-sponsored mortgages(1) | |||||||||||
U.S. agency- sponsored mortgages | Senior interests | Subordinated interests | |||||||||
Weighted average discount rate | 8.8 | % | 2.2 | % | 2.8 | % | |||||
Weighted average constant prepayment rate | 5.3 | % | 6.3 | % | 10.6 | % | |||||
Weighted average anticipated net credit losses(2) | NM | 1.4 | % | 1.0 | % | ||||||
Weighted average life | 7.6 years | 3.4 years | 5.4 years |
Three Months Ended June 30, 2022 | ||||||||||||||||||||||
Non-agency-sponsored mortgages(1) | ||||||||||||||||||||||
U.S. agency- sponsored mortgages | Senior interests | Subordinated interests | ||||||||||||||||||||
Weighted average discount rate | Weighted average discount rate | 7.6 | % | 4.4 | % | 4.1 | % | |||||||||||||||
Weighted average constant prepayment rate | Weighted average constant prepayment rate | 2.1 | % | 5.0 | % | 12.3 | % | |||||||||||||||
Weighted average anticipated net credit losses(2) | Weighted average anticipated net credit losses(2) | NM | 4.6 | % | 0.5 | % | ||||||||||||||||
Weighted average life | Weighted average life | 9.6 years | 8.4 years | 6.0 years | ||||||||||||||||||
Six Months Ended June 30, 2022 | ||||||||||||||||||||||
Non-agency-sponsored mortgages(1) | ||||||||||||||||||||||
U.S. agency- sponsored mortgages | Senior interests | Subordinated interests | ||||||||||||||||||||
Weighted average discount rate | Weighted average discount rate | 7.4 | % | 3.4 | % | 3.9 | % | |||||||||||||||
Weighted average constant prepayment rate | Weighted average constant prepayment rate | 2.7 | % | 5.9 | % | 12.3 | % | |||||||||||||||
Weighted average anticipated net credit losses(2) | Weighted average anticipated net credit losses(2) | NM | 2.9 | % | 0.4 | % | ||||||||||||||||
Weighted average life | Weighted average life | 9.0 years | 6.5 years | 5.8 years | ||||||||||||||||||
Nine Months Ended September 30, 2020 | ||||||||||||||||||||||
Three Months Ended June 30, 2021 | ||||||||||||||||||||||
Non-agency-sponsored mortgages(1) | Non-agency-sponsored mortgages(1) | |||||||||||||||||||||
U.S. agency- sponsored mortgages | Senior interests | Subordinated interests | U.S. agency- sponsored mortgages | Senior interests | Subordinated interests | |||||||||||||||||
Weighted average discount rate | Weighted average discount rate | 5.2 | % | 1.8 | % | 3.0 | % | Weighted average discount rate | 9.0 | % | 1.8 | % | 2.8 | % | ||||||||
Weighted average constant prepayment rate | Weighted average constant prepayment rate | 27.9 | % | 1.8 | % | 25.0 | % | Weighted average constant prepayment rate | 4.2 | % | — | % | 10.0 | % | ||||||||
Weighted average anticipated net credit losses(2) | Weighted average anticipated net credit losses(2) | NM | 0.7 | % | 0.5 | % | Weighted average anticipated net credit losses(2) | NM | — | % | 1.0 | % | ||||||||||
Weighted average life | Weighted average life | 4.5 years | 4.2 years | 2.3 years | Weighted average life | 7.8 years | 6.7 years | 5.7 years | ||||||||||||||
Six Months Ended June 30, 2021 | ||||||||||||||||||||||
Non-agency-sponsored mortgages(1) | ||||||||||||||||||||||
U.S. agency- sponsored mortgages | Senior interests | Subordinated interests | ||||||||||||||||||||
Weighted average discount rate | Weighted average discount rate | 8.9 | % | 0.4 | % | 2.9 | % | |||||||||||||||
Weighted average constant prepayment rate | Weighted average constant prepayment rate | 5.0 | % | — | % | 10.3 | % | |||||||||||||||
Weighted average anticipated net credit losses(2) | Weighted average anticipated net credit losses(2) | NM | 0.4 | % | 1.1 | % | ||||||||||||||||
Weighted average life | Weighted average life | 7.8 years | 3.4 years | 5.5 years |
September 30, 2021 | |||||||||||
Non-agency-sponsored mortgages(1) | |||||||||||
U.S. agency- sponsored mortgages | Senior interests | Subordinated interests | |||||||||
Weighted average discount rate | 6.4 | % | 13.0 | % | 3.0 | % | |||||
Weighted average constant prepayment rate | 11.3 | % | 6.0 | % | 7.0 | % | |||||
Weighted average anticipated net credit losses(2) | NM | NM | 1.5 | % | |||||||
Weighted average life | 5.7 years | 12.6 years | 18.2 years |
December 31, 2020 | June 30, 2022 | |||||||||||||||||||||
Non-agency-sponsored mortgages(1) | Non-agency-sponsored mortgages(1) | |||||||||||||||||||||
U.S. agency- sponsored mortgages | Senior interests | Subordinated interests | U.S. agency- sponsored mortgages | Senior interests | Subordinated interests | |||||||||||||||||
Weighted average discount rate | Weighted average discount rate | 5.9 | % | 7.2 | % | 4.3 | % | Weighted average discount rate | 5.1 | % | 6.7 | % | — | % | ||||||||
Weighted average constant prepayment rate | Weighted average constant prepayment rate | 22.7 | % | 5.3 | % | 4.7 | % | Weighted average constant prepayment rate | 6.0 | % | 10.0 | % | — | % | ||||||||
Weighted average anticipated net credit losses(2) | Weighted average anticipated net credit losses(2) | NM | 1.2 | % | 1.4 | % | Weighted average anticipated net credit losses(2) | NM | 1.0 | % | — | % | ||||||||||
Weighted average life | Weighted average life | 4.5 years | 5.3 years | 4.7 years | Weighted average life | 7.7 years | 6.5 years | NM |
December 31, 2021 | |||||||||||
Non-agency-sponsored mortgages(1) | |||||||||||
U.S. agency- sponsored mortgages | Senior interests | Subordinated interests | |||||||||
Weighted average discount rate | 3.7 | % | 16.2 | % | 4.0 | % | |||||
Weighted average constant prepayment rate | 14.5 | % | 6.8 | % | 9.0 | % | |||||
Weighted average anticipated net credit losses(2) | NM | 1.0 | % | 2.0 | % | ||||||
Weighted average life | 5.1 years | 8.8 years | 18.0 years |
September 30, 2021 | |||||||||||
Non-agency-sponsored mortgages | |||||||||||
In millions of dollars | U.S. agency- sponsored mortgages | Senior interests | Subordinated interests | ||||||||
Discount rate | |||||||||||
Adverse change of 10% | $ | (9) | $ | — | $ | — | |||||
Adverse change of 20% | (18) | (1) | (1) | ||||||||
Constant prepayment rate | |||||||||||
Adverse change of 10% | (18) | — | — | ||||||||
Adverse change of 20% | (35) | — | — | ||||||||
Anticipated net credit losses | |||||||||||
Adverse change of 10% | NM | — | — | ||||||||
Adverse change of 20% | NM | — | — |
June 30, 2022 | |||||||||||
Non-agency-sponsored mortgages | |||||||||||
In millions of dollars | U.S. agency- sponsored mortgages | Senior interests | Subordinated interests | ||||||||
Discount rate | |||||||||||
Adverse change of 10% | $ | (16) | $ | — | $ | — | |||||
Adverse change of 20% | (31) | (1) | — | ||||||||
Constant prepayment rate | |||||||||||
Adverse change of 10% | (14) | — | — | ||||||||
Adverse change of 20% | (27) | (1) | — | ||||||||
Anticipated net credit losses | |||||||||||
Adverse change of 10% | NM | — | — | ||||||||
Adverse change of 20% | NM | — | — |
December 31, 2020 | December 31, 2021 | |||||||||||||||||||||
Non-agency-sponsored mortgages | Non-agency-sponsored mortgages | |||||||||||||||||||||
In millions of dollars | In millions of dollars | U.S. agency- sponsored mortgages | Senior interests | Subordinated interests | In millions of dollars | U.S. agency- sponsored mortgages | Senior interests | Subordinated interests | ||||||||||||||
Discount rate | Discount rate | Discount rate | ||||||||||||||||||||
Adverse change of 10% | Adverse change of 10% | $ | (8) | $ | — | $ | (1) | Adverse change of 10% | $ | (6) | $ | (1) | $ | — | ||||||||
Adverse change of 20% | Adverse change of 20% | (15) | (1) | (1) | Adverse change of 20% | (11) | (1) | — | ||||||||||||||
Constant prepayment rate | Constant prepayment rate | Constant prepayment rate | ||||||||||||||||||||
Adverse change of 10% | Adverse change of 10% | (21) | — | — | Adverse change of 10% | (19) | — | — | ||||||||||||||
Adverse change of 20% | Adverse change of 20% | (40) | — | — | Adverse change of 20% | (37) | — | — | ||||||||||||||
Anticipated net credit losses | Anticipated net credit losses | Anticipated net credit losses | ||||||||||||||||||||
Adverse change of 10% | Adverse change of 10% | NM | — | — | Adverse change of 10% | NM | — | — | ||||||||||||||
Adverse change of 20% | Adverse change of 20% | NM | — | — | Adverse change of 20% | NM | — | — |
Liquidation losses | ||||||||||||||||||||||||||
Securitized assets | 90 days past due | Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||||||||||
In billions of dollars, except liquidation losses in millions | Sept. 30, 2021 | Dec. 31, 2020 | Sept. 30, 2021 | Dec. 31, 2020 | 2021 | 2020 | 2021 | 2020 | ||||||||||||||||||
Securitized assets | ||||||||||||||||||||||||||
Residential mortgages(1) | $ | 28.5 | $ | 16.9 | $ | 0.3 | $ | 0.5 | $ | 2 | $ | 5 | $ | 8 | $ | 23 | ||||||||||
Commercial and other | 25.6 | 23.9 | — | — | — | — | $ | — | — | |||||||||||||||||
Total | $ | 54.1 | $ | 40.8 | $ | 0.3 | $ | 0.5 | $ | 2 | $ | 5 | $ | 8 | $ | 23 |
Liquidation losses | ||||||||||||||||||||||||||
Securitized assets | 90 days past due | Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||||||||||
In billions of dollars, except liquidation losses in millions | Jun. 30, 2022 | Dec. 31, 2021 | Jun. 30, 2022 | Dec. 31, 2021 | 2022 | 2021 | 2022 | 2021 | ||||||||||||||||||
Securitized assets | ||||||||||||||||||||||||||
Residential mortgages(1) | $ | 29.3 | $ | 29.2 | $ | 0.5 | $ | 0.4 | $ | (0.3) | $ | 5.0 | $ | 1.2 | $ | 6.6 | ||||||||||
Commercial and other | 21.7 | 26.2 | — | — | — | — | — | — | ||||||||||||||||||
Total | $ | 51.0 | $ | 55.4 | $ | 0.5 | $ | 0.4 | $ | (0.3) | $ | 5.0 | $ | 1.2 | $ | 6.6 |
Three Months Ended September 30, | Nine Months Ended September 30, | Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||||||||||||
In millions of dollars | In millions of dollars | 2021 | 2020 | 2021 | 2020 | In millions of dollars | 2022 | 2021 | 2022 | 2021 | ||||||||||||||||||
Balance, beginning of period | Balance, beginning of period | $ | 419 | $ | 345 | $ | 336 | $ | 495 | Balance, beginning of period | $ | 520 | $ | 433 | $ | 404 | $ | 336 | ||||||||||
Originations | Originations | 8 | 31 | 76 | 87 | Originations | 35 | 25 | 69 | 68 | ||||||||||||||||||
Changes in fair value of MSRs due to changes in inputs and assumptions | Changes in fair value of MSRs due to changes in inputs and assumptions | (3) | (22) | 49 | (191) | Changes in fair value of MSRs due to changes in inputs and assumptions | 59 | (21) | 158 | 52 | ||||||||||||||||||
Other changes(1) | Other changes(1) | (15) | (20) | (52) | (57) | Other changes(1) | (14) | (18) | (31) | (37) | ||||||||||||||||||
Sales of MSRs | Sales of MSRs | — | — | — | — | Sales of MSRs | — | — | — | — | ||||||||||||||||||
Balance, as of September 30 | $ | 409 | $ | 334 | $ | 409 | $ | 334 | ||||||||||||||||||||
Balance, as of June 30 | Balance, as of June 30 | $ | 600 | $ | 419 | $ | 600 | $ | 419 |
Three Months Ended September 30, | Nine Months Ended September 30, | Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||||||||||||
In millions of dollars | In millions of dollars | 2021 | 2020 | 2021 | 2020 | In millions of dollars | 2022 | 2021 | 2022 | 2021 | ||||||||||||||||||
Servicing fees | Servicing fees | $ | 32 | $ | 29 | $ | 100 | $ | 102 | Servicing fees | $ | 30 | $ | 37 | $ | 59 | $ | 68 | ||||||||||
Late fees | Late fees | 1 | 1 | 2 | 4 | Late fees | 1 | — | 2 | 1 | ||||||||||||||||||
Ancillary fees | Ancillary fees | — | — | — | — | Ancillary fees | — | — | — | — | ||||||||||||||||||
Total MSR fees | Total MSR fees | $ | 33 | $ | 30 | $ | 102 | $ | 106 | Total MSR fees | $ | 31 | $ | 37 | $ | 61 | $ | 69 |
In millions of dollars | In millions of dollars | Sept. 30, 2021 | Dec. 31, 2020 | In millions of dollars | Jun. 30, 2022 | Dec. 31, 2021 | ||||||||||
Carrying value of retained interests | Carrying value of retained interests | $ | 1,519 | $ | 1,611 | Carrying value of retained interests | $ | 681 | $ | 921 |
September 30, 2021 | December 31, 2020 | June 30, 2022 | December 31, 2021 | |||||||||||||||||||||||||
In millions of dollars | In millions of dollars | Total unconsolidated VIE assets | Maximum exposure to unconsolidated VIEs | Total unconsolidated VIE assets | Maximum exposure to unconsolidated VIEs | In millions of dollars | Total unconsolidated VIE assets | Maximum exposure to unconsolidated VIEs | Total unconsolidated VIE assets | Maximum exposure to unconsolidated VIEs | ||||||||||||||||||
Type | Type | Type | ||||||||||||||||||||||||||
Commercial and other real estate | Commercial and other real estate | $ | 33,741 | $ | 6,841 | $ | 34,570 | $ | 7,758 | Commercial and other real estate | $ | 42,600 | $ | 8,802 | $ | 32,932 | $ | 7,461 | ||||||||||
Corporate loans | Corporate loans | 18,465 | 11,363 | 12,022 | 7,654 | Corporate loans | 23,656 | 15,139 | 18,257 | 12,581 | ||||||||||||||||||
Other (including investment funds, airlines and shipping) | Other (including investment funds, airlines and shipping) | 215,732 | 23,120 | 167,613 | 20,442 | Other (including investment funds, airlines and shipping) | 171,295 | 24,837 | 184,358 | 25,528 | ||||||||||||||||||
Total | Total | $ | 267,938 | $ | 41,324 | $ | 214,205 | $ | 35,854 | Total | $ | 237,551 | $ | 48,778 | $ | 235,547 | $ | 45,570 |
Hedging instruments under ASC 815 | Trading derivative instruments | Hedging instruments under ASC 815 | Trading derivative instruments | |||||||||||||||||||||||||||||||||||||
In millions of dollars | In millions of dollars | September 30, 2021 | December 31, 2020 | September 30, 2021 | December 31, 2020 | In millions of dollars | June 30, 2022 | December 31, 2021 | June 30, 2022 | December 31, 2021 | ||||||||||||||||||||||||||||||
Interest rate contracts | Interest rate contracts | Interest rate contracts | ||||||||||||||||||||||||||||||||||||||
Swaps | Swaps | $ | 283,433 | $ | 334,351 | $ | 20,154,428 | $ | 17,724,147 | Swaps | $ | 318,974 | $ | 267,035 | $ | 23,331,571 | $ | 21,873,538 | ||||||||||||||||||||||
Futures and forwards | Futures and forwards | — | — | 3,485,545 | 4,142,514 | Futures and forwards | — | — | 2,714,997 | 2,383,702 | ||||||||||||||||||||||||||||||
Written options | Written options | — | — | 1,619,341 | 1,573,483 | Written options | — | — | 1,879,285 | 1,584,451 | ||||||||||||||||||||||||||||||
Purchased options | Purchased options | — | — | 1,470,167 | 1,418,255 | Purchased options | — | — | 1,843,472 | 1,428,376 | ||||||||||||||||||||||||||||||
Total interest rate contracts | Total interest rate contracts | $ | 283,433 | $ | 334,351 | $ | 26,729,481 | $ | 24,858,399 | Total interest rate contracts | $ | 318,974 | $ | 267,035 | $ | 29,769,325 | $ | 27,270,067 | ||||||||||||||||||||||
Foreign exchange contracts | Foreign exchange contracts | Foreign exchange contracts | ||||||||||||||||||||||||||||||||||||||
Swaps | Swaps | $ | 50,214 | $ | 65,709 | $ | 6,707,996 | $ | 6,567,304 | Swaps | $ | 45,428 | $ | 47,298 | $ | 6,276,146 | $ | 6,288,193 | ||||||||||||||||||||||
Futures, forwards and spot | Futures, forwards and spot | 54,135 | 37,080 | 4,778,312 | 3,945,391 | Futures, forwards and spot | 43,351 | 50,926 | 3,668,569 | 4,316,242 | ||||||||||||||||||||||||||||||
Written options | Written options | — | 47 | 746,078 | 907,338 | Written options | — | — | 846,794 | 664,942 | ||||||||||||||||||||||||||||||
Purchased options | Purchased options | — | 53 | 740,239 | 900,626 | Purchased options | — | — | 840,987 | 651,958 | ||||||||||||||||||||||||||||||
Total foreign exchange contracts | Total foreign exchange contracts | $ | 104,349 | $ | 102,889 | $ | 12,972,625 | $ | 12,320,659 | Total foreign exchange contracts | $ | 88,779 | $ | 98,224 | $ | 11,632,496 | $ | 11,921,335 | ||||||||||||||||||||||
Equity contracts | Equity contracts | Equity contracts | ||||||||||||||||||||||||||||||||||||||
Swaps | Swaps | $ | — | $ | — | $ | 313,557 | $ | 274,098 | Swaps | $ | — | $ | — | $ | 243,070 | $ | 269,062 | ||||||||||||||||||||||
Futures and forwards | Futures and forwards | — | — | 92,136 | 67,025 | Futures and forwards | — | — | 73,495 | 71,363 | ||||||||||||||||||||||||||||||
Written options | Written options | — | — | 585,440 | 441,003 | Written options | — | — | 485,109 | 492,433 | ||||||||||||||||||||||||||||||
Purchased options | Purchased options | — | — | 473,549 | 328,202 | Purchased options | — | — | 396,981 | 398,129 | ||||||||||||||||||||||||||||||
Total equity contracts | Total equity contracts | $ | — | $ | — | $ | 1,464,682 | $ | 1,110,328 | Total equity contracts | $ | — | $ | — | $ | 1,198,655 | $ | 1,230,987 | ||||||||||||||||||||||
Commodity and other contracts | Commodity and other contracts | Commodity and other contracts | ||||||||||||||||||||||||||||||||||||||
Swaps | Swaps | $ | — | $ | — | $ | 94,768 | $ | 80,127 | Swaps | $ | — | $ | — | $ | 110,833 | $ | 91,962 | ||||||||||||||||||||||
Futures and forwards | Futures and forwards | 2,342 | 924 | 176,408 | 143,175 | Futures and forwards | 1,365 | 2,096 | 201,926 | 157,195 | ||||||||||||||||||||||||||||||
Written options | Written options | — | — | 63,308 | 71,376 | Written options | — | — | 63,643 | 51,224 | ||||||||||||||||||||||||||||||
Purchased options | Purchased options | — | — | 58,947 | 67,849 | Purchased options | — | — | 60,695 | 47,868 | ||||||||||||||||||||||||||||||
Total commodity and other contracts | Total commodity and other contracts | $ | 2,342 | $ | 924 | $ | 393,431 | $ | 362,527 | Total commodity and other contracts | $ | 1,365 | $ | 2,096 | $ | 437,097 | $ | 348,249 | ||||||||||||||||||||||
Credit derivatives(1) | Credit derivatives(1) | Credit derivatives(1) | ||||||||||||||||||||||||||||||||||||||
Protection sold | Protection sold | $ | — | $ | — | $ | 634,497 | $ | 543,607 | Protection sold | $ | — | $ | — | $ | 638,379 | $ | 572,486 | ||||||||||||||||||||||
Protection purchased | Protection purchased | — | — | 705,590 | 612,770 | Protection purchased | — | — | 682,144 | 645,996 | ||||||||||||||||||||||||||||||
Total credit derivatives | Total credit derivatives | $ | — | $ | — | $ | 1,340,087 | $ | 1,156,377 | Total credit derivatives | $ | — | $ | — | $ | 1,320,523 | $ | 1,218,482 | ||||||||||||||||||||||
Total derivative notionals | Total derivative notionals | $ | 390,124 | $ | 438,164 | $ | 42,900,306 | $ | 39,808,290 | Total derivative notionals | $ | 409,118 | $ | 367,355 | $ | 44,358,096 | $ | 41,989,120 |
In millions of dollars at September 30, 2021 | Derivatives classified in Trading account assets/liabilities(1)(2) | |||||||
Derivatives instruments designated as ASC 815 hedges | Assets | Liabilities | ||||||
Over-the-counter | $ | 1,964 | $ | 30 | ||||
Cleared | 244 | 84 | ||||||
Interest rate contracts | $ | 2,208 | $ | 114 | ||||
Over-the-counter | $ | 1,146 | $ | 1,482 | ||||
Cleared | 6 | — | ||||||
Foreign exchange contracts | $ | 1,152 | $ | 1,482 | ||||
Total derivatives instruments designated as ASC 815 hedges | $ | 3,360 | $ | 1,596 | ||||
Derivatives instruments not designated as ASC 815 hedges | ||||||||
Over-the-counter | $ | 159,004 | $ | 146,083 | ||||
Cleared | 12,129 | 10,673 | ||||||
Exchange traded | 55 | 29 | ||||||
Interest rate contracts | $ | 171,188 | $ | 156,785 | ||||
Over-the-counter | $ | 130,707 | $ | 128,259 | ||||
Cleared | 401 | 249 | ||||||
Foreign exchange contracts | $ | 131,108 | $ | 128,508 | ||||
Over-the-counter | $ | 30,147 | $ | 38,966 | ||||
Cleared | 18 | 24 | ||||||
Exchange traded | 23,516 | 23,583 | ||||||
Equity contracts | $ | 53,681 | $ | 62,573 | ||||
Over-the-counter | $ | 43,833 | $ | 43,394 | ||||
Exchange traded | 3,302 | 3,824 | ||||||
Commodity and other contracts | $ | 47,135 | $ | 47,218 | ||||
Over-the-counter | $ | 7,237 | $ | 7,331 | ||||
Cleared | 3,005 | 3,318 | ||||||
Credit derivatives | $ | 10,242 | $ | 10,649 | ||||
Total derivatives instruments not designated as ASC 815 hedges | $ | 413,354 | $ | 405,733 | ||||
Total derivatives | $ | 416,714 | $ | 407,329 | ||||
Cash collateral paid/received(3) | $ | 23,216 | $ | 18,492 | ||||
Less: Netting agreements(4) | (313,526) | (313,526) | ||||||
Less: Netting cash collateral received/paid(5) | (48,391) | (49,460) | ||||||
Net receivables/payables included on the Consolidated Balance Sheet(6) | $ | 78,013 | $ | 62,835 | ||||
Additional amounts subject to an enforceable master netting agreement, but not offset on the Consolidated Balance Sheet | ||||||||
Less: Cash collateral received/paid | $ | (881) | $ | (509) | ||||
Less: Non-cash collateral received/paid | (5,726) | (13,358) | ||||||
Total net receivables/payables(6) | $ | 71,406 | $ | 48,968 |
In millions of dollars at June 30, 2022 | Derivatives classified in Trading account assets/liabilities(1)(2) | |||||||
Derivatives instruments designated as ASC 815 hedges | Assets | Liabilities | ||||||
Over-the-counter | $ | 671 | $ | 2 | ||||
Cleared | 126 | 426 | ||||||
Interest rate contracts | $ | 797 | $ | 428 | ||||
Over-the-counter | $ | 1,729 | $ | 2,147 | ||||
Cleared | 1 | — | ||||||
Foreign exchange contracts | $ | 1,730 | $ | 2,147 | ||||
Total derivatives instruments designated as ASC 815 hedges | $ | 2,527 | $ | 2,575 | ||||
Derivatives instruments not designated as ASC 815 hedges | ||||||||
Over-the-counter | $ | 123,716 | $ | 115,511 | ||||
Cleared | 34,690 | 33,926 | ||||||
Exchange traded | 322 | 272 | ||||||
Interest rate contracts | $ | 158,728 | $ | 149,709 | ||||
Over-the-counter | $ | 183,935 | $ | 178,416 | ||||
Cleared | 445 | 829 | ||||||
Foreign exchange contracts | $ | 184,380 | $ | 179,245 | ||||
Over-the-counter | $ | 25,577 | $ | 27,170 | ||||
Cleared | 22 | 12 | ||||||
Exchange traded | 29,992 | 31,327 | ||||||
Equity contracts | $ | 55,591 | $ | 58,509 | ||||
Over-the-counter | $ | 47,253 | $ | 41,326 | ||||
Exchange traded | 2,423 | 3,303 | ||||||
Commodity and other contracts | $ | 49,676 | $ | 44,629 | ||||
Over-the-counter | $ | 9,837 | $ | 8,401 | ||||
Cleared | 1,964 | 1,894 | ||||||
Credit derivatives | $ | 11,801 | $ | 10,295 | ||||
Total derivatives instruments not designated as ASC 815 hedges | $ | 460,176 | $ | 442,387 | ||||
Total derivatives | $ | 462,703 | $ | 444,962 | ||||
Less: Netting agreements(3) | $ | (348,255) | $ | (348,255) | ||||
Less: Netting cash collateral received/paid(4) | (32,563) | (33,950) | ||||||
Net receivables/payables included on the Consolidated Balance Sheet(5) | $ | 81,885 | $ | 62,757 | ||||
Additional amounts subject to an enforceable master netting agreement, but not offset on the Consolidated Balance Sheet | ||||||||
Less: Cash collateral received/paid | $ | (2,244) | $ | (1,918) | ||||
Less: Non-cash collateral received/paid | (4,878) | (12,975) | ||||||
Total net receivables/payables(5) | $ | 74,763 | $ | 47,864 |
In millions of dollars at December 31, 2020 | Derivatives classified in Trading account assets/liabilities(1)(2) | |||||||||||||||
In millions of dollars at December 31, 2021 | In millions of dollars at December 31, 2021 | Derivatives classified in Trading account assets/liabilities(1)(2) | ||||||||||||||
Derivatives instruments designated as ASC 815 hedges | Derivatives instruments designated as ASC 815 hedges | Assets | Liabilities | Derivatives instruments designated as ASC 815 hedges | Assets | Liabilities | ||||||||||
Over-the-counter | Over-the-counter | $ | 1,781 | $ | 161 | Over-the-counter | $ | 1,167 | $ | 6 | ||||||
Cleared | Cleared | 74 | 319 | Cleared | 122 | 89 | ||||||||||
Interest rate contracts | Interest rate contracts | $ | 1,855 | $ | 480 | Interest rate contracts | $ | 1,289 | $ | 95 | ||||||
Over-the-counter | Over-the-counter | $ | 2,037 | $ | 2,042 | Over-the-counter | $ | 1,338 | $ | 1,472 | ||||||
Cleared | Cleared | 6 | — | |||||||||||||
Foreign exchange contracts | Foreign exchange contracts | $ | 2,037 | $ | 2,042 | Foreign exchange contracts | $ | 1,344 | $ | 1,472 | ||||||
Total derivatives instruments designated as ASC 815 hedges | Total derivatives instruments designated as ASC 815 hedges | $ | 3,892 | $ | 2,522 | Total derivatives instruments designated as ASC 815 hedges | $ | 2,633 | $ | 1,567 | ||||||
Derivatives instruments not designated as ASC 815 hedges | Derivatives instruments not designated as ASC 815 hedges | Derivatives instruments not designated as ASC 815 hedges | ||||||||||||||
Over-the-counter | Over-the-counter | $ | 228,519 | $ | 209,330 | Over-the-counter | $ | 152,524 | $ | 138,114 | ||||||
Cleared | Cleared | 11,041 | 12,563 | Cleared | 11,579 | 11,821 | ||||||||||
Exchange traded | Exchange traded | 46 | 38 | Exchange traded | 96 | 44 | ||||||||||
Interest rate contracts | Interest rate contracts | $ | 239,606 | $ | 221,931 | Interest rate contracts | $ | 164,199 | $ | 149,979 | ||||||
Over-the-counter | Over-the-counter | $ | 153,791 | $ | 152,784 | Over-the-counter | $ | 133,357 | $ | 133,548 | ||||||
Cleared | Cleared | 842 | 1,239 | Cleared | 848 | 278 | ||||||||||
Exchange traded | — | 1 | ||||||||||||||
Foreign exchange contracts | Foreign exchange contracts | $ | 154,633 | $ | 154,024 | Foreign exchange contracts | $ | 134,205 | $ | 133,826 | ||||||
Over-the-counter | Over-the-counter | $ | 29,244 | $ | 41,036 | Over-the-counter | $ | 23,452 | $ | 28,352 | ||||||
Cleared | Cleared | 1 | 18 | Cleared | 19 | — | ||||||||||
Exchange traded | Exchange traded | 21,274 | 22,515 | Exchange traded | 21,781 | 21,332 | ||||||||||
Equity contracts | Equity contracts | $ | 50,519 | $ | 63,569 | Equity contracts | $ | 45,252 | $ | 49,684 | ||||||
Over-the-counter | Over-the-counter | $ | 13,659 | $ | 17,076 | Over-the-counter | $ | 29,279 | $ | 29,833 | ||||||
Exchange traded | Exchange traded | 879 | 1,017 | Exchange traded | 1,065 | 1,546 | ||||||||||
Commodity and other contracts | Commodity and other contracts | $ | 14,538 | $ | 18,093 | Commodity and other contracts | $ | 30,344 | $ | 31,379 | ||||||
Over-the-counter | Over-the-counter | $ | 7,826 | $ | 7,951 | Over-the-counter | $ | 6,896 | $ | 6,959 | ||||||
Cleared | Cleared | 1,963 | 2,178 | Cleared | 3,322 | 4,056 | ||||||||||
Credit derivatives | Credit derivatives | $ | 9,789 | $ | 10,129 | Credit derivatives | $ | 10,218 | $ | 11,015 | ||||||
Total derivatives instruments not designated as ASC 815 hedges | Total derivatives instruments not designated as ASC 815 hedges | $ | 469,085 | $ | 467,746 | Total derivatives instruments not designated as ASC 815 hedges | $ | 384,218 | $ | 375,883 | ||||||
Total derivatives | Total derivatives | $ | 472,977 | $ | 470,268 | Total derivatives | $ | 386,851 | $ | 377,450 | ||||||
Cash collateral paid/received(3) | $ | 32,778 | $ | 8,196 | ||||||||||||
Less: Netting agreements | Less: Netting agreements | (364,879) | (364,879) | Less: Netting agreements | $ | (292,628) | $ | (292,628) | ||||||||
Less: Netting cash collateral received/paid | Less: Netting cash collateral received/paid | (63,915) | (45,628) | Less: Netting cash collateral received/paid | (24,447) | (29,306) | ||||||||||
Net receivables/payables included on the Consolidated Balance Sheet | Net receivables/payables included on the Consolidated Balance Sheet | $ | 76,961 | $ | 67,957 | Net receivables/payables included on the Consolidated Balance Sheet | $ | 69,776 | $ | 55,516 | ||||||
Additional amounts subject to an enforceable master netting agreement, but not offset on the Consolidated Balance Sheet | Additional amounts subject to an enforceable master netting agreement, but not offset on the Consolidated Balance Sheet | Additional amounts subject to an enforceable master netting agreement, but not offset on the Consolidated Balance Sheet | ||||||||||||||
Less: Cash collateral received/paid | Less: Cash collateral received/paid | $ | (1,567) | $ | (473) | Less: Cash collateral received/paid | $ | (907) | $ | (538) | ||||||
Less: Non-cash collateral received/paid | Less: Non-cash collateral received/paid | (7,408) | (13,087) | Less: Non-cash collateral received/paid | (5,777) | (13,607) | ||||||||||
Total net receivables/payables | Total net receivables/payables | $ | 67,986 | $ | 54,397 | Total net receivables/payables | $ | 63,092 | $ | 41,371 |
Gains (losses) included in Other revenue | Gains (losses) included in Other revenue | |||||||||||||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||||||||||||
In millions of dollars | In millions of dollars | 2021 | 2020 | 2021 | 2020 | In millions of dollars | 2022 | 2021 | 2022 | 2021 | ||||||||||||||||||
Interest rate contracts | Interest rate contracts | $ | 9 | $ | (3) | $ | (66) | $ | 171 | Interest rate contracts | $ | 72 | $ | (15) | $ | 144 | $ | (75) | ||||||||||
Foreign exchange | Foreign exchange | (26) | 19 | (60) | (18) | Foreign exchange | (4) | (13) | (81) | (34) | ||||||||||||||||||
Total | Total | $ | (17) | $ | 16 | $ | (126) | $ | 153 | Total | $ | 68 | $ | (28) | $ | 63 | $ | (109) |
Gains (losses) on fair value hedges(1) | ||||||||||||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | |||||||||||||||||||||||
In millions of dollars | Other revenue | Net interest revenue | Other revenue | Net interest revenue | Other revenue | Net interest revenue | Other revenue | Net interest revenue | ||||||||||||||||||
Gain (loss) on the hedging derivatives included in assessment of the effectiveness of fair value hedges | ||||||||||||||||||||||||||
Interest rate hedges | $ | — | $ | (747) | $ | — | $ | (1,121) | $ | — | $ | (4,228) | $ | — | $ | 5,965 | ||||||||||
Foreign exchange hedges | (724) | — | 1,235 | — | (714) | — | (242) | — | ||||||||||||||||||
Commodity hedges | (166) | — | (3) | — | (732) | — | (94) | — | ||||||||||||||||||
Total gain (loss) on the hedging derivatives included in assessment of the effectiveness of fair value hedges | $ | (890) | $ | (747) | $ | 1,232 | $ | (1,121) | $ | (1,446) | $ | (4,228) | $ | (336) | $ | 5,965 | ||||||||||
Gain (loss) on the hedged item in designated and qualifying fair value hedges | ||||||||||||||||||||||||||
Interest rate hedges | $ | — | $ | 667 | $ | — | $ | 955 | $ | — | $ | 3,934 | $ | — | $ | (6,173) | ||||||||||
Foreign exchange hedges | 725 | — | (1,235) | — | 715 | — | 242 | — | ||||||||||||||||||
Commodity hedges | 166 | — | 3 | — | 732 | — | 94 | — | ||||||||||||||||||
Total gain (loss) on the hedged item in designated and qualifying fair value hedges | $ | 891 | $ | 667 | $ | (1,232) | $ | 955 | $ | 1,447 | $ | 3,934 | $ | 336 | $ | (6,173) | ||||||||||
Net gain (loss) on the hedging derivatives excluded from assessment of the effectiveness of fair value hedges | ||||||||||||||||||||||||||
Interest rate hedges | $ | — | $ | — | $ | — | $ | — | $ | — | $ | (3) | $ | — | $ | (23) | ||||||||||
Foreign exchange hedges(2) | 79 | — | (24) | — | 96 | — | (65) | — | ||||||||||||||||||
Commodity hedges | 42 | — | 91 | — | (33) | — | 81 | — | ||||||||||||||||||
Total net gain (loss) on the hedging derivatives excluded from assessment of the effectiveness of fair value hedges | $ | 121 | $ | — | $ | 67 | $ | — | $ | 63 | $ | (3) | $ | 16 | $ | (23) |
Gains (losses) on fair value hedges(1) | ||||||||||||||||||||||||||
Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||||||||||||
2022 | 2021 | 2022 | 2021 | |||||||||||||||||||||||
In millions of dollars | Other revenue | Net interest income | Other revenue | Net interest income | Other revenue | Net interest income | Other revenue | Net interest income | ||||||||||||||||||
Gain (loss) on the hedging derivatives included in assessment of the effectiveness of fair value hedges | ||||||||||||||||||||||||||
Interest rate hedges | $ | — | $ | (1,717) | $ | — | $ | 454 | $ | — | $ | (6,383) | $ | — | $ | (3,481) | ||||||||||
Foreign exchange hedges | (1,234) | — | 220 | — | (1,659) | — | 10 | — | ||||||||||||||||||
Commodity hedges | (257) | — | (277) | — | 615 | — | (566) | — | ||||||||||||||||||
Total gain (loss) on the hedging derivatives included in assessment of the effectiveness of fair value hedges | $ | (1,491) | $ | (1,717) | $ | (57) | $ | 454 | $ | (1,044) | $ | (6,383) | $ | (556) | $ | (3,481) | ||||||||||
Gain (loss) on the hedged item in designated and qualifying fair value hedges | ||||||||||||||||||||||||||
Interest rate hedges | $ | — | $ | 1,646 | $ | — | $ | (559) | $ | — | $ | 6,243 | $ | — | $ | 3,267 | ||||||||||
Foreign exchange hedges | 1,233 | — | (220) | — | 1,657 | — | (10) | — | ||||||||||||||||||
Commodity hedges | 257 | — | 277 | — | (615) | — | 566 | — | ||||||||||||||||||
Total gain (loss) on the hedged item in designated and qualifying fair value hedges | $ | 1,490 | $ | 1,646 | $ | 57 | $ | (559) | $ | 1,042 | $ | 6,243 | $ | 556 | $ | 3,267 | ||||||||||
Net gain (loss) on the hedging derivatives excluded from assessment of the effectiveness of fair value hedges | ||||||||||||||||||||||||||
Interest rate hedges | $ | — | $ | (5) | $ | — | $ | 1 | $ | — | $ | (11) | $ | — | $ | (3) | ||||||||||
Foreign exchange hedges(2) | 73 | — | 13 | — | 104 | — | 17 | — | ||||||||||||||||||
Commodity hedges | (26) | — | (53) | — | 23 | — | (75) | — | ||||||||||||||||||
Total net gain (loss) on the hedging derivatives excluded from assessment of the effectiveness of fair value hedges | $ | 47 | $ | (5) | $ | (40) | $ | 1 | $ | 127 | $ | (11) | $ | (58) | $ | (3) |
In millions of dollars | In millions of dollars | In millions of dollars | ||||||||||||||||||||
Balance sheet line item in which hedged item is recorded | Balance sheet line item in which hedged item is recorded | Carrying amount of hedged asset/ liability | Cumulative fair value hedging adjustment increasing (decreasing) the carrying amount | Balance sheet line item in which hedged item is recorded | Carrying amount of hedged asset/ liability | Cumulative fair value hedging adjustment increasing (decreasing) the carrying amount | ||||||||||||||||
Active | De-designated | Active | De-designated | |||||||||||||||||||
As of September 30, 2021 | ||||||||||||||||||||||
As of June 30, 2022 | As of June 30, 2022 | |||||||||||||||||||||
Debt securities AFS(1)(3) | Debt securities AFS(1)(3) | $ | 72,366 | $ | 103 | $ | 165 | Debt securities AFS(1)(3) | $ | 101,249 | $ | (1,137) | $ | (270) | ||||||||
Long-term debt | Long-term debt | 155,659 | 1,804 | 4,061 | Long-term debt | 148,863 | (3,848) | (587) | ||||||||||||||
As of December 31, 2020 | ||||||||||||||||||||||
As of December 31, 2021 | As of December 31, 2021 | |||||||||||||||||||||
Debt securities AFS(2)(3) | Debt securities AFS(2)(3) | $ | 81,082 | $ | 28 | $ | 342 | Debt securities AFS(2)(3) | $ | 62,733 | $ | 149 | $ | 212 | ||||||||
Long-term debt | Long-term debt | 169,026 | 5,554 | 4,989 | Long-term debt | 149,305 | 623 | 3,936 |
Three Months Ended September 30, | Nine Months Ended September 30, | Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||||||||||||||||||||||||||||||||||||
In millions of dollars | In millions of dollars | 2021 | 2020 | 2021 | 2020 | In millions of dollars | 2022 | 2021 | 2022 | 2021 | ||||||||||||||||||||||||||||||||||||||||||
Amount of gain (loss) recognized in AOCI on derivatives | Amount of gain (loss) recognized in AOCI on derivatives | Amount of gain (loss) recognized in AOCI on derivatives | ||||||||||||||||||||||||||||||||||||||||||||||||||
Interest rate contracts | Interest rate contracts | $ | 19 | $ | (52) | $ | (397) | $ | 2,739 | Interest rate contracts | $ | (681) | $ | 39 | $ | (2,441) | $ | (416) | ||||||||||||||||||||||||||||||||||
Foreign exchange contracts | Foreign exchange contracts | (16) | — | (16) | (16) | Foreign exchange contracts | (7) | (3) | 16 | — | ||||||||||||||||||||||||||||||||||||||||||
Total gain (loss) recognized in AOCI | Total gain (loss) recognized in AOCI | $ | 3 | $ | (52) | $ | (413) | $ | 2,723 | Total gain (loss) recognized in AOCI | $ | (688) | $ | 36 | $ | (2,425) | $ | (416) | ||||||||||||||||||||||||||||||||||
Other revenue | Net interest revenue | Other revenue | Net interest revenue | Other revenue | Net interest revenue | Other revenue | Net interest revenue | Other revenue | Net interest revenue | Other revenue | Net interest revenue | Other revenue | Net interest revenue | Other revenue | Net interest revenue | |||||||||||||||||||||||||||||||||||||
Amount of gain (loss) reclassified from AOCI to earnings(1) | Amount of gain (loss) reclassified from AOCI to earnings(1) | Amount of gain (loss) reclassified from AOCI to earnings(1) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Interest rate contracts | Interest rate contracts | $ | — | $ | 269 | $ | — | $ | 256 | $ | — | $ | 809 | $ | — | $ | 459 | Interest rate contracts | $ | — | $ | 199 | $ | — | $ | 266 | $ | — | $ | 485 | $ | — | $ | 544 | ||||||||||||||||||
Foreign exchange contracts | Foreign exchange contracts | (1) | — | (1) | — | (3) | — | (3) | — | Foreign exchange contracts | (1) | — | (1) | — | (2) | — | (2) | — | ||||||||||||||||||||||||||||||||||
Total gain (loss) reclassified from AOCI into earnings | Total gain (loss) reclassified from AOCI into earnings | $ | (1) | $ | 269 | $ | (1) | $ | 256 | $ | (3) | $ | 809 | $ | (3) | $ | 459 | Total gain (loss) reclassified from AOCI into earnings | $ | (1) | $ | 199 | $ | (1) | $ | 266 | $ | (2) | $ | 485 | $ | (2) | $ | 544 | ||||||||||||||||||
Net pretax change in cash flow hedges included within AOCI | Net pretax change in cash flow hedges included within AOCI | $ | (265) | $ | (307) | $ | (1,219) | $ | 2,267 | Net pretax change in cash flow hedges included within AOCI | $ | (886) | $ | (229) | $ | (2,908) | $ | (958) |
Fair values | Notionals | Fair values | Notionals | |||||||||||||||||||||||||
In millions of dollars at September 30, 2021 | Receivable(1) | Payable(2) | Protection purchased | Protection sold | ||||||||||||||||||||||||
In millions of dollars at June 30, 2022 | In millions of dollars at June 30, 2022 | Receivable(1) | Payable(2) | Protection purchased | Protection sold | |||||||||||||||||||||||
By industry of counterparty | By industry of counterparty | By industry of counterparty | ||||||||||||||||||||||||||
Banks | Banks | $ | 2,384 | $ | 3,060 | $ | 112,636 | $ | 108,122 | Banks | $ | 3,507 | $ | 3,767 | $ | 111,649 | $ | 115,903 | ||||||||||
Broker-dealers | Broker-dealers | 1,984 | 1,229 | 50,752 | 44,525 | Broker-dealers | 2,872 | 1,865 | 46,453 | 39,567 | ||||||||||||||||||
Non-financial | Non-financial | 125 | 75 | 6,056 | 2,635 | Non-financial | 73 | 22 | 2,161 | 1,515 | ||||||||||||||||||
Insurance and other financial institutions | Insurance and other financial institutions | 5,749 | 6,285 | 536,146 | 479,215 | Insurance and other financial institutions | 5,349 | 4,641 | 521,881 | 481,394 | ||||||||||||||||||
Total by industry of counterparty | Total by industry of counterparty | $ | 10,242 | $ | 10,649 | $ | 705,590 | $ | 634,497 | Total by industry of counterparty | $ | 11,801 | $ | 10,295 | $ | 682,144 | $ | 638,379 | ||||||||||
By instrument | By instrument | By instrument | ||||||||||||||||||||||||||
Credit default swaps and options | Credit default swaps and options | $ | 9,609 | $ | 9,927 | $ | 689,107 | $ | 626,484 | Credit default swaps and options | $ | 10,182 | $ | 9,935 | $ | 667,694 | $ | 631,332 | ||||||||||
Total return swaps and other | Total return swaps and other | 633 | 722 | 16,483 | 8,013 | Total return swaps and other | 1,619 | 360 | 14,450 | 7,047 | ||||||||||||||||||
Total by instrument | Total by instrument | $ | 10,242 | $ | 10,649 | $ | 705,590 | $ | 634,497 | Total by instrument | $ | 11,801 | $ | 10,295 | $ | 682,144 | $ | 638,379 | ||||||||||
By rating of reference entity | By rating of reference entity | By rating of reference entity | ||||||||||||||||||||||||||
Investment grade | Investment grade | $ | 4,179 | $ | 4,053 | $ | 541,747 | $ | 478,178 | Investment grade | $ | 4,201 | $ | 3,602 | $ | 536,771 | $ | 499,423 | ||||||||||
Non-investment grade | Non-investment grade | 6,063 | 6,596 | 163,843 | 156,319 | Non-investment grade | 7,600 | 6,693 | 145,373 | 138,956 | ||||||||||||||||||
Total by rating of reference entity | Total by rating of reference entity | $ | 10,242 | $ | 10,649 | $ | 705,590 | $ | 634,497 | Total by rating of reference entity | $ | 11,801 | $ | 10,295 | $ | 682,144 | $ | 638,379 | ||||||||||
By maturity | By maturity | By maturity | ||||||||||||||||||||||||||
Within 1 year | Within 1 year | $ | 783 | $ | 1,274 | $ | 131,085 | $ | 121,324 | Within 1 year | $ | 2,504 | $ | 1,722 | $ | 159,569 | $ | 160,373 | ||||||||||
From 1 to 5 years | From 1 to 5 years | 6,188 | 6,192 | 460,850 | 419,029 | From 1 to 5 years | 6,486 | 6,078 | 467,326 | 437,448 | ||||||||||||||||||
After 5 years | After 5 years | 3,271 | 3,183 | 113,655 | 94,144 | After 5 years | 2,811 | 2,495 | 55,249 | 40,558 | ||||||||||||||||||
Total by maturity | Total by maturity | $ | 10,242 | $ | 10,649 | $ | 705,590 | $ | 634,497 | Total by maturity | $ | 11,801 | $ | 10,295 | $ | 682,144 | $ | 638,379 |
Fair values | Notionals | Fair values | Notionals | |||||||||||||||||||||||||
In millions of dollars at December 31, 2020 | Receivable(1) | Payable(2) | Protection purchased | Protection sold | ||||||||||||||||||||||||
In millions of dollars at December 31, 2021 | In millions of dollars at December 31, 2021 | Receivable(1) | Payable(2) | Protection purchased | Protection sold | |||||||||||||||||||||||
By industry of counterparty | By industry of counterparty | By industry of counterparty | ||||||||||||||||||||||||||
Banks | Banks | $ | 2,902 | $ | 3,187 | $ | 117,685 | $ | 120,739 | Banks | $ | 2,375 | $ | 3,031 | $ | 108,415 | $ | 103,756 | ||||||||||
Broker-dealers | Broker-dealers | 1,770 | 1,215 | 46,928 | 44,692 | Broker-dealers | 1,962 | 1,139 | 44,364 | 40,068 | ||||||||||||||||||
Non-financial | Non-financial | 109 | 90 | 5,740 | 2,217 | Non-financial | 113 | 306 | 2,785 | 2,728 | ||||||||||||||||||
Insurance and other financial institutions | Insurance and other financial institutions | 5,008 | 5,637 | 442,417 | 375,959 | Insurance and other financial institutions | 5,768 | 6,539 | 490,432 | 425,934 | ||||||||||||||||||
Total by industry of counterparty | Total by industry of counterparty | $ | 9,789 | $ | 10,129 | $ | 612,770 | $ | 543,607 | Total by industry of counterparty | $ | 10,218 | $ | 11,015 | $ | 645,996 | $ | 572,486 | ||||||||||
By instrument | By instrument | By instrument | ||||||||||||||||||||||||||
Credit default swaps and options | Credit default swaps and options | $ | 9,254 | $ | 9,254 | $ | 599,633 | $ | 538,426 | Credit default swaps and options | $ | 9,923 | $ | 10,234 | $ | 628,136 | $ | 565,131 | ||||||||||
Total return swaps and other | Total return swaps and other | 535 | 875 | 13,137 | 5,181 | Total return swaps and other | 295 | 781 | 17,860 | 7,355 | ||||||||||||||||||
Total by instrument | Total by instrument | $ | 9,789 | $ | 10,129 | $ | 612,770 | $ | 543,607 | Total by instrument | $ | 10,218 | $ | 11,015 | $ | 645,996 | $ | 572,486 | ||||||||||
By rating of reference entity | By rating of reference entity | By rating of reference entity | ||||||||||||||||||||||||||
Investment grade | Investment grade | $ | 4,136 | $ | 4,037 | $ | 478,643 | $ | 418,147 | Investment grade | $ | 4,149 | $ | 4,258 | $ | 511,652 | $ | 448,944 | ||||||||||
Non-investment grade | Non-investment grade | 5,653 | 6,092 | 134,127 | 125,460 | Non-investment grade | 6,069 | 6,757 | 134,344 | 123,542 | ||||||||||||||||||
Total by rating of reference entity | Total by rating of reference entity | $ | 9,789 | $ | 10,129 | $ | 612,770 | $ | 543,607 | Total by rating of reference entity | $ | 10,218 | $ | 11,015 | $ | 645,996 | $ | 572,486 | ||||||||||
By maturity | By maturity | By maturity | ||||||||||||||||||||||||||
Within 1 year | Within 1 year | $ | 914 | $ | 1,355 | $ | 134,080 | $ | 125,464 | Within 1 year | $ | 878 | $ | 1,462 | $ | 133,866 | $ | 115,603 | ||||||||||
From 1 to 5 years | From 1 to 5 years | 6,022 | 5,991 | 421,682 | 374,376 | From 1 to 5 years | 6,674 | 6,638 | 454,617 | 413,174 | ||||||||||||||||||
After 5 years | After 5 years | 2,853 | 2,783 | 57,008 | 43,767 | After 5 years | 2,666 | 2,915 | 57,513 | 43,709 | ||||||||||||||||||
Total by maturity | Total by maturity | $ | 9,789 | $ | 10,129 | $ | 612,770 | $ | 543,607 | Total by maturity | $ | 10,218 | $ | 11,015 | $ | 645,996 | $ | 572,486 |
Credit and funding valuation adjustments contra-liability (contra-asset) | Credit and funding valuation adjustments contra-liability (contra-asset) | |||||||||||||||
In millions of dollars | In millions of dollars | September 30, 2021 | December 31, 2020 | In millions of dollars | June 30, 2022 | December 31, 2021 | ||||||||||
Counterparty CVA | Counterparty CVA | $ | (671) | $ | (800) | Counterparty CVA | $ | (849) | $ | (705) | ||||||
Asset FVA | Asset FVA | (459) | (525) | Asset FVA | (625) | (433) | ||||||||||
Citigroup (own credit) CVA | Citigroup (own credit) CVA | 375 | 403 | Citigroup (own credit) CVA | 746 | 379 | ||||||||||
Liability FVA | Liability FVA | 80 | 67 | Liability FVA | 199 | 110 | ||||||||||
Total CVA—derivative instruments | $ | (675) | $ | (855) | ||||||||||||
Total CVA and FVA—derivative instruments | Total CVA and FVA—derivative instruments | $ | (529) | $ | (649) |
Credit/funding/debt valuation adjustments gain (loss) | Credit/funding/debt valuation adjustments gain (loss) | |||||||||||||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||||||||||||
In millions of dollars | In millions of dollars | 2021 | 2020 | 2021 | 2020 | In millions of dollars | 2022 | 2021 | 2022 | 2021 | ||||||||||||||||||
Counterparty CVA | Counterparty CVA | $ | 25 | $ | 104 | $ | 68 | $ | (134) | Counterparty CVA | $ | (94) | $ | 34 | $ | (201) | $ | 43 | ||||||||||
Asset FVA | Asset FVA | (23) | 105 | 71 | (316) | Asset FVA | (46) | 25 | (151) | 94 | ||||||||||||||||||
Own credit CVA | Own credit CVA | 34 | (62) | (44) | 200 | Own credit CVA | 182 | (41) | 298 | (78) | ||||||||||||||||||
Liability FVA | Liability FVA | (63) | (36) | (52) | 87 | Liability FVA | 68 | (13) | 90 | 11 | ||||||||||||||||||
Total CVA—derivative instruments | $ | (27) | $ | 111 | $ | 43 | $ | (163) | ||||||||||||||||||||
Total CVA and FVA—derivative instruments | Total CVA and FVA—derivative instruments | $ | 110 | $ | 5 | $ | 36 | $ | 70 | |||||||||||||||||||
DVA related to own FVO liabilities(1) | DVA related to own FVO liabilities(1) | $ | (107) | $ | (452) | $ | (256) | $ | 801 | DVA related to own FVO liabilities(1) | $ | 2,592 | $ | (110) | $ | 3,642 | $ | (148) | ||||||||||
Total CVA and DVA | $ | (134) | $ | (341) | $ | (213) | $ | 638 | ||||||||||||||||||||
Total CVA, DVA and FVA | Total CVA, DVA and FVA | $ | 2,702 | $ | (105) | $ | 3,678 | $ | (78) |
In millions of dollars at September 30, 2021 | Level 1 | Level 2 | Level 3 | Gross inventory | Netting(1) | Net balance | ||||||||||||||||||||||||||||||||||
In millions of dollars at June 30, 2022 | In millions of dollars at June 30, 2022 | Level 1 | Level 2 | Level 3 | Gross inventory | Netting(1) | Net balance | |||||||||||||||||||||||||||||||||
Assets | Assets | Assets | ||||||||||||||||||||||||||||||||||||||
Securities borrowed and purchased under agreements to resell | Securities borrowed and purchased under agreements to resell | $ | — | $ | 328,482 | $ | 257 | $ | 328,739 | $ | (116,539) | $ | 212,200 | Securities borrowed and purchased under agreements to resell | $ | — | $ | 340,834 | $ | 183 | $ | 341,017 | $ | (98,257) | $ | 242,760 | ||||||||||||||
Trading non-derivative assets | Trading non-derivative assets | Trading non-derivative assets | ||||||||||||||||||||||||||||||||||||||
Trading mortgage-backed securities | Trading mortgage-backed securities | Trading mortgage-backed securities | ||||||||||||||||||||||||||||||||||||||
U.S. government-sponsored agency guaranteed | U.S. government-sponsored agency guaranteed | — | 29,577 | 432 | 30,009 | — | 30,009 | U.S. government-sponsored agency guaranteed | — | 32,121 | 708 | 32,829 | — | 32,829 | ||||||||||||||||||||||||||
Residential | Residential | — | 415 | 61 | 476 | — | 476 | Residential | — | 519 | 153 | 672 | — | 672 | ||||||||||||||||||||||||||
Commercial | Commercial | — | 656 | 120 | 776 | — | 776 | Commercial | — | 860 | 138 | 998 | — | 998 | ||||||||||||||||||||||||||
Total trading mortgage-backed securities | Total trading mortgage-backed securities | $ | — | $ | 30,648 | $ | 613 | $ | 31,261 | $ | — | $ | 31,261 | Total trading mortgage-backed securities | $ | — | $ | 33,500 | $ | 999 | $ | 34,499 | $ | — | $ | 34,499 | ||||||||||||||
U.S. Treasury and federal agency securities | U.S. Treasury and federal agency securities | $ | 42,689 | $ | 4,621 | $ | — | $ | 47,310 | $ | — | $ | 47,310 | U.S. Treasury and federal agency securities | $ | 56,991 | $ | 3,917 | $ | 1 | $ | 60,909 | $ | — | $ | 60,909 | ||||||||||||||
State and municipal | State and municipal | — | 1,570 | 71 | 1,641 | — | 1,641 | State and municipal | — | 1,681 | 80 | 1,761 | — | 1,761 | ||||||||||||||||||||||||||
Foreign government | Foreign government | 54,922 | 27,517 | 33 | 82,472 | — | 82,472 | Foreign government | 43,585 | 26,703 | 364 | 70,652 | — | 70,652 | ||||||||||||||||||||||||||
Corporate | Corporate | 1,914 | 20,833 | 541 | 23,288 | — | 23,288 | Corporate | 2,415 | 14,577 | 537 | 17,529 | — | 17,529 | ||||||||||||||||||||||||||
Equity securities | Equity securities | 49,713 | 10,350 | 205 | 60,268 | — | 60,268 | Equity securities | 42,192 | 8,946 | 133 | 51,271 | — | 51,271 | ||||||||||||||||||||||||||
Asset-backed securities | Asset-backed securities | — | 804 | 664 | 1,468 | — | 1,468 | Asset-backed securities | — | 1,404 | 554 | 1,958 | — | 1,958 | ||||||||||||||||||||||||||
Other trading assets(2) | Other trading assets(2) | — | 16,278 | 915 | 17,193 | — | 17,193 | Other trading assets(2) | 18 | 19,577 | 816 | 20,411 | — | 20,411 | ||||||||||||||||||||||||||
Total trading non-derivative assets | Total trading non-derivative assets | $ | 149,238 | $ | 112,621 | $ | 3,042 | $ | 264,901 | $ | — | $ | 264,901 | Total trading non-derivative assets | $ | 145,201 | $ | 110,305 | $ | 3,484 | $ | 258,990 | $ | — | $ | 258,990 | ||||||||||||||
Trading derivatives | Trading derivatives | Trading derivatives | ||||||||||||||||||||||||||||||||||||||
Interest rate contracts | Interest rate contracts | $ | 59 | $ | 170,175 | $ | 3,162 | $ | 173,396 | Interest rate contracts | $ | 476 | $ | 155,912 | $ | 3,137 | $ | 159,525 | ||||||||||||||||||||||
Foreign exchange contracts | Foreign exchange contracts | — | 131,744 | 516 | 132,260 | Foreign exchange contracts | — | 185,093 | 1,017 | 186,110 | ||||||||||||||||||||||||||||||
Equity contracts | Equity contracts | — | 51,894 | 1,787 | 53,681 | Equity contracts | 55 | 53,351 | 2,185 | 55,591 | ||||||||||||||||||||||||||||||
Commodity contracts | Commodity contracts | — | 45,933 | 1,202 | 47,135 | Commodity contracts | — | 47,253 | 2,423 | 49,676 | ||||||||||||||||||||||||||||||
Credit derivatives | Credit derivatives | — | 9,432 | 810 | 10,242 | Credit derivatives | — | 10,558 | 1,243 | 11,801 | ||||||||||||||||||||||||||||||
Total trading derivatives—before netting and collateral | Total trading derivatives—before netting and collateral | $ | 59 | $ | 409,178 | $ | 7,477 | $ | 416,714 | Total trading derivatives—before netting and collateral | $ | 531 | $ | 452,167 | $ | 10,005 | $ | 462,703 | ||||||||||||||||||||||
Cash collateral paid(3) | $ | 23,216 | ||||||||||||||||||||||||||||||||||||||
Netting agreements | Netting agreements | $ | (313,526) | Netting agreements | $ | (348,255) | ||||||||||||||||||||||||||||||||||
Netting of cash collateral received | Netting of cash collateral received | (48,391) | Netting of cash collateral received | (32,563) | ||||||||||||||||||||||||||||||||||||
Total trading derivatives—after netting and collateral | Total trading derivatives—after netting and collateral | $ | 59 | $ | 409,178 | $ | 7,477 | $ | 439,930 | $ | (361,917) | $ | 78,013 | Total trading derivatives—after netting and collateral | $ | 531 | $ | 452,167 | $ | 10,005 | $ | 462,703 | $ | (380,818) | $ | 81,885 | ||||||||||||||
Investments | Investments | Investments | ||||||||||||||||||||||||||||||||||||||
Mortgage-backed securities | Mortgage-backed securities | Mortgage-backed securities | ||||||||||||||||||||||||||||||||||||||
U.S. government-sponsored agency guaranteed | U.S. government-sponsored agency guaranteed | $ | — | $ | 36,617 | $ | 52 | $ | 36,669 | $ | — | $ | 36,669 | U.S. government-sponsored agency guaranteed | $ | — | $ | 12,487 | $ | 28 | $ | 12,515 | $ | — | $ | 12,515 | ||||||||||||||
Residential | Residential | — | 351 | 12 | 363 | — | 363 | Residential | — | 238 | 40 | 278 | — | 278 | ||||||||||||||||||||||||||
Commercial | Commercial | — | 34 | — | 34 | — | 34 | Commercial | — | 7 | — | 7 | — | 7 | ||||||||||||||||||||||||||
Total investment mortgage-backed securities | Total investment mortgage-backed securities | $ | — | $ | 37,002 | $ | 64 | $ | 37,066 | $ | — | $ | 37,066 | Total investment mortgage-backed securities | $ | — | $ | 12,732 | $ | 68 | $ | 12,800 | $ | — | $ | 12,800 | ||||||||||||||
U.S. Treasury and federal agency securities | U.S. Treasury and federal agency securities | $ | 123,004 | $ | 170 | $ | — | $ | 123,174 | $ | — | $ | 123,174 | U.S. Treasury and federal agency securities | $ | 91,530 | $ | 334 | $ | — | $ | 91,864 | $ | — | $ | 91,864 | ||||||||||||||
State and municipal | State and municipal | — | 1,949 | 735 | 2,684 | — | 2,684 | State and municipal | — | 1,953 | 539 | 2,492 | — | 2,492 | ||||||||||||||||||||||||||
Foreign government | Foreign government | 65,314 | 54,068 | 812 | 120,194 | — | 120,194 | Foreign government | 51,472 | 67,213 | 1,001 | 119,686 | — | 119,686 | ||||||||||||||||||||||||||
Corporate | Corporate | 3,577 | 3,157 | 192 | 6,926 | — | 6,926 | Corporate | 2,838 | 3,273 | 334 | 6,445 | — | 6,445 | ||||||||||||||||||||||||||
Marketable equity securities | Marketable equity securities | 243 | 136 | — | 379 | — | 379 | Marketable equity securities | 406 | 172 | 10 | 588 | — | 588 | ||||||||||||||||||||||||||
Asset-backed securities | Asset-backed securities | — | 261 | 3 | 264 | — | 264 | Asset-backed securities | — | 275 | 1 | 276 | — | 276 | ||||||||||||||||||||||||||
Other debt securities | Other debt securities | — | 5,265 | — | 5,265 | — | 5,265 | Other debt securities | — | 4,936 | — | 4,936 | — | 4,936 | ||||||||||||||||||||||||||
Non-marketable equity securities(4) | — | 47 | 347 | 394 | — | 394 | ||||||||||||||||||||||||||||||||||
Non-marketable equity securities(3) | Non-marketable equity securities(3) | — | 7 | 310 | 317 | — | 317 | |||||||||||||||||||||||||||||||||
Total investments | Total investments | $ | 192,138 | $ | 102,055 | $ | 2,153 | $ | 296,346 | $ | — | $ | 296,346 | Total investments | $ | 146,246 | $ | 90,895 | $ | 2,263 | $ | 239,404 | $ | — | $ | 239,404 |
In millions of dollars at September 30, 2021 | Level 1 | Level 2 | Level 3 | Gross inventory | Netting(1) | Net balance | ||||||||||||||||||||||||||||||||||
In millions of dollars at June 30, 2022 | In millions of dollars at June 30, 2022 | Level 1 | Level 2 | Level 3 | Gross inventory | Netting(1) | Net balance | |||||||||||||||||||||||||||||||||
Loans | Loans | $ | — | $ | 6,437 | $ | 722 | $ | 7,159 | $ | — | $ | 7,159 | Loans | $ | — | $ | 4,211 | $ | 325 | $ | 4,536 | $ | — | $ | 4,536 | ||||||||||||||
Mortgage servicing rights | Mortgage servicing rights | — | 409 | 409 | — | 409 | Mortgage servicing rights | — | 600 | 600 | — | 600 | ||||||||||||||||||||||||||||
Non-trading derivatives and other financial assets measured on a recurring basis | Non-trading derivatives and other financial assets measured on a recurring basis | $ | 4,347 | $ | 7,462 | $ | 86 | $ | 11,895 | $ | — | $ | 11,895 | Non-trading derivatives and other financial assets measured on a recurring basis | $ | 3,502 | $ | 6,520 | $ | 63 | $ | 10,085 | $ | — | $ | 10,085 | ||||||||||||||
Total assets | Total assets | $ | 345,782 | $ | 966,235 | $ | 14,146 | $ | 1,349,379 | $ | (478,456) | $ | 870,923 | Total assets | $ | 295,480 | $ | 1,004,932 | $ | 16,923 | $ | 1,317,335 | $ | (479,075) | $ | 838,260 | ||||||||||||||
Total as a percentage of gross assets | Total as a percentage of gross assets | 26.1% | 72.9% | 1.1% | Total as a percentage of gross assets | 22.4% | 76.3% | 1.3% | ||||||||||||||||||||||||||||||||
Liabilities | Liabilities | Liabilities | ||||||||||||||||||||||||||||||||||||||
Interest-bearing deposits | Interest-bearing deposits | $ | — | $ | 2,531 | $ | 182 | $ | 2,713 | $ | — | $ | 2,713 | Interest-bearing deposits | $ | — | $ | 2,290 | $ | 18 | $ | 2,308 | $ | — | $ | 2,308 | ||||||||||||||
Securities loaned and sold under agreements to repurchase | Securities loaned and sold under agreements to repurchase | — | 184,142 | 656 | 184,798 | (109,536) | 75,262 | Securities loaned and sold under agreements to repurchase | — | 154,757 | 593 | 155,350 | (90,776) | 64,574 | ||||||||||||||||||||||||||
Trading account liabilities | Trading account liabilities | Trading account liabilities | ||||||||||||||||||||||||||||||||||||||
Securities sold, not yet purchased | Securities sold, not yet purchased | 98,685 | 17,671 | 88 | 116,444 | — | 116,444 | Securities sold, not yet purchased | 98,389 | 19,231 | 72 | 117,692 | — | 117,692 | ||||||||||||||||||||||||||
Other trading liabilities | Other trading liabilities | — | 7 | — | 7 | — | 7 | Other trading liabilities | — | 4 | — | 4 | — | 4 | ||||||||||||||||||||||||||
Total trading liabilities | Total trading liabilities | $ | 98,685 | $ | 17,678 | $ | 88 | $ | 116,451 | $ | — | $ | 116,451 | Total trading liabilities | $ | 98,389 | $ | 19,235 | $ | 72 | $ | 117,696 | $ | — | $ | 117,696 | ||||||||||||||
Trading derivatives | Trading derivatives | Trading derivatives | ||||||||||||||||||||||||||||||||||||||
Interest rate contracts | Interest rate contracts | $ | 45 | $ | 155,183 | $ | 1,671 | $ | 156,899 | Interest rate contracts | $ | 347 | $ | 147,534 | $ | 2,256 | $ | 150,137 | ||||||||||||||||||||||
Foreign exchange contracts | Foreign exchange contracts | 3 | 129,263 | 724 | 129,990 | Foreign exchange contracts | — | 180,531 | 861 | 181,392 | ||||||||||||||||||||||||||||||
Equity contracts | Equity contracts | 26 | 58,787 | 3,760 | 62,573 | Equity contracts | 108 | 56,115 | 2,286 | 58,509 | ||||||||||||||||||||||||||||||
Commodity contracts | Commodity contracts | — | 46,434 | 784 | 47,218 | Commodity contracts | — | 42,461 | 2,168 | 44,629 | ||||||||||||||||||||||||||||||
Credit derivatives | Credit derivatives | — | 9,889 | 760 | 10,649 | Credit derivatives | — | 8,703 | 1,592 | 10,295 | ||||||||||||||||||||||||||||||
Total trading derivatives—before netting and collateral | Total trading derivatives—before netting and collateral | $ | 74 | $ | 399,556 | $ | 7,699 | $ | 407,329 | Total trading derivatives—before netting and collateral | $ | 455 | $ | 435,344 | $ | 9,163 | $ | 444,962 | ||||||||||||||||||||||
Cash collateral received(6) | $ | 18,492 | ||||||||||||||||||||||||||||||||||||||
Netting agreements | Netting agreements | $ | (313,526) | Netting agreements | $ | (348,255) | ||||||||||||||||||||||||||||||||||
Netting of cash collateral paid | Netting of cash collateral paid | (49,460) | Netting of cash collateral paid | (33,950) | ||||||||||||||||||||||||||||||||||||
Total trading derivatives—after netting and collateral | Total trading derivatives—after netting and collateral | $ | 74 | $ | 399,556 | $ | 7,699 | $ | 425,821 | $ | (362,986) | $ | 62,835 | Total trading derivatives—after netting and collateral | $ | 455 | $ | 435,344 | $ | 9,163 | $ | 444,962 | $ | (382,205) | $ | 62,757 | ||||||||||||||
Short-term borrowings | Short-term borrowings | $ | — | $ | 8,811 | $ | 3 | $ | 8,814 | $ | — | $ | 8,814 | Short-term borrowings | $ | — | $ | 6,771 | $ | 81 | $ | 6,852 | $ | — | $ | 6,852 | ||||||||||||||
Long-term debt | Long-term debt | — | 52,136 | 26,042 | 78,178 | — | 78,178 | Long-term debt | — | 59,610 | 29,778 | 89,388 | — | 89,388 | ||||||||||||||||||||||||||
Total non-trading derivatives and other financial liabilities measured on a recurring basis | Total non-trading derivatives and other financial liabilities measured on a recurring basis | $ | 3,245 | $ | 177 | $ | 1 | $ | 3,423 | 0 | $ | 3,423 | Total non-trading derivatives and other financial liabilities measured on a recurring basis | $ | 3,288 | $ | — | $ | — | $ | 3,288 | $ | — | $ | 3,288 | |||||||||||||||
Total liabilities | Total liabilities | $ | 102,004 | $ | 665,031 | $ | 34,671 | $ | 820,198 | $ | (472,522) | $ | 347,676 | Total liabilities | $ | 102,132 | $ | 678,007 | $ | 39,705 | $ | 819,844 | $ | (472,981) | $ | 346,863 | ||||||||||||||
Total as a percentage of gross liabilities(5) | 12.7 | % | 83.0 | % | 4.3 | % | ||||||||||||||||||||||||||||||||||
Total as a percentage of gross liabilities(4) | Total as a percentage of gross liabilities(4) | 12.5 | % | 82.7 | % | 4.8 | % |
In millions of dollars at December 31, 2020 | Level 1 | Level 2 | Level 3 | Gross inventory | Netting(1) | Net balance | ||||||||||||||||||||||||||||||||||
In millions of dollars at December 31, 2021 | In millions of dollars at December 31, 2021 | Level 1 | Level 2 | Level 3 | Gross inventory | Netting(1) | Net balance | |||||||||||||||||||||||||||||||||
Assets | Assets | Assets | ||||||||||||||||||||||||||||||||||||||
Securities borrowed and purchased under agreements to resell | Securities borrowed and purchased under agreements to resell | $ | — | $ | 335,073 | $ | 320 | $ | 335,393 | $ | (150,189) | $ | 185,204 | Securities borrowed and purchased under agreements to resell | $ | — | $ | 342,030 | $ | 231 | $ | 342,261 | $ | (125,795) | $ | 216,466 | ||||||||||||||
Trading non-derivative assets | Trading non-derivative assets | Trading non-derivative assets | ||||||||||||||||||||||||||||||||||||||
Trading mortgage-backed securities | Trading mortgage-backed securities | Trading mortgage-backed securities | ||||||||||||||||||||||||||||||||||||||
U.S. government-sponsored agency guaranteed | U.S. government-sponsored agency guaranteed | — | 42,903 | 27 | 42,930 | — | 42,930 | U.S. government-sponsored agency guaranteed | — | 34,534 | 496 | 35,030 | — | 35,030 | ||||||||||||||||||||||||||
Residential | Residential | — | 391 | 340 | 731 | — | 731 | Residential | 1 | 643 | 104 | 748 | — | 748 | ||||||||||||||||||||||||||
Commercial | Commercial | — | 893 | 136 | 1,029 | — | 1,029 | Commercial | — | 778 | 81 | 859 | — | 859 | ||||||||||||||||||||||||||
Total trading mortgage-backed securities | Total trading mortgage-backed securities | $ | — | $ | 44,187 | $ | 503 | $ | 44,690 | $ | — | $ | 44,690 | Total trading mortgage-backed securities | $ | 1 | $ | 35,955 | $ | 681 | $ | 36,637 | $ | — | $ | 36,637 | ||||||||||||||
U.S. Treasury and federal agency securities | U.S. Treasury and federal agency securities | $ | 64,529 | $ | 2,269 | $ | — | $ | 66,798 | $ | — | $ | 66,798 | U.S. Treasury and federal agency securities | $ | 44,900 | $ | 3,230 | $ | 4 | $ | 48,134 | $ | — | $ | 48,134 | ||||||||||||||
State and municipal | State and municipal | — | 1,224 | 94 | 1,318 | — | 1,318 | State and municipal | — | 1,995 | 37 | 2,032 | — | 2,032 | ||||||||||||||||||||||||||
Foreign government | Foreign government | 68,195 | 15,143 | 51 | 83,389 | — | 83,389 | Foreign government | 39,176 | 31,485 | 23 | 70,684 | — | 70,684 | ||||||||||||||||||||||||||
Corporate | Corporate | 1,607 | 18,840 | 375 | 20,822 | — | 20,822 | Corporate | 1,544 | 16,156 | 412 | 18,112 | — | 18,112 | ||||||||||||||||||||||||||
Equity securities | Equity securities | 54,117 | 12,289 | 73 | 66,479 | — | 66,479 | Equity securities | 53,833 | 10,047 | 174 | 64,054 | — | 64,054 | ||||||||||||||||||||||||||
Asset-backed securities | Asset-backed securities | — | 776 | 1,606 | 2,382 | — | 2,382 | Asset-backed securities | — | 981 | 613 | 1,594 | — | 1,594 | ||||||||||||||||||||||||||
Other trading assets(2) | Other trading assets(2) | — | 11,295 | 945 | 12,240 | — | 12,240 | Other trading assets(2) | — | 20,346 | 576 | 20,922 | — | 20,922 | ||||||||||||||||||||||||||
Total trading non-derivative assets | Total trading non-derivative assets | $ | 188,448 | $ | 106,023 | $ | 3,647 | $ | 298,118 | $ | — | $ | 298,118 | Total trading non-derivative assets | $ | 139,454 | $ | 120,195 | $ | 2,520 | $ | 262,169 | $ | — | $ | 262,169 | ||||||||||||||
Trading derivatives | Trading derivatives | Trading derivatives | ||||||||||||||||||||||||||||||||||||||
Interest rate contracts | Interest rate contracts | $ | 42 | $ | 238,026 | $ | 3,393 | $ | 241,461 | Interest rate contracts | $ | 90 | $ | 161,500 | $ | 3,898 | $ | 165,488 | ||||||||||||||||||||||
Foreign exchange contracts | Foreign exchange contracts | 2 | 155,994 | 674 | 156,670 | Foreign exchange contracts | — | 134,912 | 637 | 135,549 | ||||||||||||||||||||||||||||||
Equity contracts | Equity contracts | 66 | 48,362 | 2,091 | 50,519 | Equity contracts | 41 | 43,904 | 1,307 | 45,252 | ||||||||||||||||||||||||||||||
Commodity contracts | Commodity contracts | — | 13,546 | 992 | 14,538 | Commodity contracts | — | 28,547 | 1,797 | 30,344 | ||||||||||||||||||||||||||||||
Credit derivatives | Credit derivatives | — | 8,634 | 1,155 | 9,789 | Credit derivatives | — | 9,299 | 919 | 10,218 | ||||||||||||||||||||||||||||||
Total trading derivatives—before netting and collateral | Total trading derivatives—before netting and collateral | $ | 110 | $ | 464,562 | $ | 8,305 | $ | 472,977 | Total trading derivatives—before netting and collateral | $ | 131 | $ | 378,162 | $ | 8,558 | $ | 386,851 | ||||||||||||||||||||||
Cash collateral paid(3) | $ | 32,778 | ||||||||||||||||||||||||||||||||||||||
Netting agreements | Netting agreements | $ | (364,879) | Netting agreements | $ | (292,628) | ||||||||||||||||||||||||||||||||||
Netting of cash collateral received | (63,915) | |||||||||||||||||||||||||||||||||||||||
Netting of cash collateral received(3) | Netting of cash collateral received(3) | (24,447) | ||||||||||||||||||||||||||||||||||||||
Total trading derivatives—after netting and collateral | Total trading derivatives—after netting and collateral | $ | 110 | $ | 464,562 | $ | 8,305 | $ | 505,755 | $ | (428,794) | $ | 76,961 | Total trading derivatives—after netting and collateral | $ | 131 | $ | 378,162 | $ | 8,558 | $ | 386,851 | $ | (317,075) | $ | 69,776 | ||||||||||||||
Investments | Investments | Investments | ||||||||||||||||||||||||||||||||||||||
Mortgage-backed securities | Mortgage-backed securities | Mortgage-backed securities | ||||||||||||||||||||||||||||||||||||||
U.S. government-sponsored agency guaranteed | U.S. government-sponsored agency guaranteed | $ | — | $ | 43,888 | $ | 30 | $ | 43,918 | $ | — | $ | 43,918 | U.S. government-sponsored agency guaranteed | $ | — | $ | 33,165 | $ | 51 | $ | 33,216 | $ | — | $ | 33,216 | ||||||||||||||
Residential | Residential | — | 571 | — | 571 | — | 571 | Residential | — | 286 | 94 | 380 | — | 380 | ||||||||||||||||||||||||||
Commercial | Commercial | — | 50 | — | 50 | — | 50 | Commercial | — | 25 | — | 25 | — | 25 | ||||||||||||||||||||||||||
Total investment mortgage-backed securities | Total investment mortgage-backed securities | $ | — | $ | 44,509 | $ | 30 | $ | 44,539 | $ | — | $ | 44,539 | Total investment mortgage-backed securities | $ | — | $ | 33,476 | $ | 145 | $ | 33,621 | $ | — | $ | 33,621 | ||||||||||||||
U.S. Treasury and federal agency securities | U.S. Treasury and federal agency securities | $ | 146,032 | $ | 172 | $ | — | $ | 146,204 | $ | — | $ | 146,204 | U.S. Treasury and federal agency securities | $ | 122,271 | $ | 168 | $ | 1 | $ | 122,440 | $ | — | $ | 122,440 | ||||||||||||||
State and municipal | State and municipal | — | 2,885 | 834 | 3,719 | — | 3,719 | State and municipal | — | 1,849 | 772 | 2,621 | — | 2,621 | ||||||||||||||||||||||||||
Foreign government | Foreign government | 77,056 | 47,644 | 268 | 124,968 | — | 124,968 | Foreign government | 56,842 | 61,112 | 786 | 118,740 | — | 118,740 | ||||||||||||||||||||||||||
Corporate | Corporate | 6,326 | 4,114 | 60 | 10,500 | — | 10,500 | Corporate | 2,861 | 2,871 | 188 | 5,920 | — | 5,920 | ||||||||||||||||||||||||||
Marketable equity securities | Marketable equity securities | 287 | 228 | — | 515 | — | 515 | Marketable equity securities | 350 | 177 | 16 | 543 | — | 543 | ||||||||||||||||||||||||||
Asset-backed securities | Asset-backed securities | — | 277 | 1 | 278 | — | 278 | Asset-backed securities | — | 300 | 3 | 303 | — | 303 | ||||||||||||||||||||||||||
Other debt securities | Other debt securities | — | 4,876 | — | 4,876 | — | 4,876 | Other debt securities | — | 4,877 | — | 4,877 | — | 4,877 | ||||||||||||||||||||||||||
Non-marketable equity securities(4) | Non-marketable equity securities(4) | — | 50 | 349 | 399 | — | 399 | Non-marketable equity securities(4) | — | 28 | 316 | 344 | — | 344 | ||||||||||||||||||||||||||
Total investments | Total investments | $ | 229,701 | $ | 104,755 | $ | 1,542 | $ | 335,998 | $ | — | $ | 335,998 | Total investments | $ | 182,324 | $ | 104,858 | $ | 2,227 | $ | 289,409 | $ | — | $ | 289,409 |
In millions of dollars at December 31, 2020 | Level 1 | Level 2 | Level 3 | Gross inventory | Netting(2) | Net balance | ||||||||||||||||||||||||||||||||||
In millions of dollars at December 31, 2021 | In millions of dollars at December 31, 2021 | Level 1 | Level 2 | Level 3 | Gross inventory | Netting(1) | Net balance | |||||||||||||||||||||||||||||||||
Loans | Loans | $ | — | $ | 4,869 | $ | 1,985 | $ | 6,854 | $ | — | $ | 6,854 | Loans | $ | — | $ | 5,371 | $ | 711 | $ | 6,082 | $ | — | $ | 6,082 | ||||||||||||||
Mortgage servicing rights | Mortgage servicing rights | — | 336 | 336 | — | 336 | Mortgage servicing rights | — | 404 | 404 | — | 404 | ||||||||||||||||||||||||||||
Non-trading derivatives and other financial assets measured on a recurring basis | Non-trading derivatives and other financial assets measured on a recurring basis | $ | 6,230 | $ | 8,383 | $ | — | $ | 14,613 | $ | — | $ | 14,613 | Non-trading derivatives and other financial assets measured on a recurring basis | $ | 4,075 | $ | 8,194 | $ | 73 | $ | 12,342 | $ | — | $ | 12,342 | ||||||||||||||
Total assets | Total assets | $ | 424,489 | $ | 1,023,665 | $ | 16,135 | $ | 1,497,067 | $ | (578,983) | $ | 918,084 | Total assets | $ | 325,984 | $ | 958,810 | $ | 14,724 | $ | 1,299,518 | $ | (442,870) | $ | 856,648 | ||||||||||||||
Total as a percentage of gross assets(5) | Total as a percentage of gross assets(5) | 29.0% | 69.9% | 1.1% | Total as a percentage of gross assets(5) | 25.1% | 73.8% | 1.1% | ||||||||||||||||||||||||||||||||
Liabilities | Liabilities | Liabilities | ||||||||||||||||||||||||||||||||||||||
Interest-bearing deposits | Interest-bearing deposits | $ | — | $ | 1,752 | $ | 206 | $ | 1,958 | $ | — | $ | 1,958 | Interest-bearing deposits | $ | — | $ | 1,483 | $ | 183 | $ | 1,666 | $ | — | $ | 1,666 | ||||||||||||||
Securities loaned and sold under agreements to repurchase | Securities loaned and sold under agreements to repurchase | — | 156,644 | 631 | 157,275 | (97,069) | 60,206 | Securities loaned and sold under agreements to repurchase | — | 174,318 | 643 | 174,961 | (118,267) | 56,694 | ||||||||||||||||||||||||||
Trading account liabilities | Trading account liabilities | Trading account liabilities | ||||||||||||||||||||||||||||||||||||||
Securities sold, not yet purchased | Securities sold, not yet purchased | 85,353 | 14,477 | 214 | 100,044 | — | 100,044 | Securities sold, not yet purchased | 82,675 | 23,268 | 65 | 106,008 | — | 106,008 | ||||||||||||||||||||||||||
Other trading liabilities | Other trading liabilities | — | 26 | 26 | — | 26 | Other trading liabilities | — | 5 | — | 5 | — | 5 | |||||||||||||||||||||||||||
Total trading liabilities | Total trading liabilities | $ | 85,353 | $ | 14,477 | $ | 240 | $ | 100,070 | $ | — | $ | 100,070 | Total trading liabilities | $ | 82,675 | $ | 23,273 | $ | 65 | $ | 106,013 | $ | — | $ | 106,013 | ||||||||||||||
Trading derivatives | Trading derivatives | Trading derivatives | ||||||||||||||||||||||||||||||||||||||
Interest rate contracts | Interest rate contracts | $ | 25 | $ | 220,607 | $ | 1,779 | $ | 222,411 | Interest rate contracts | $ | 56 | $ | 147,846 | $ | 2,172 | $ | 150,074 | ||||||||||||||||||||||
Foreign exchange contracts | Foreign exchange contracts | 3 | 155,441 | 622 | 156,066 | Foreign exchange contracts | — | 134,572 | 726 | 135,298 | ||||||||||||||||||||||||||||||
Equity contracts | Equity contracts | 53 | 58,212 | 5,304 | 63,569 | Equity contracts | 60 | 46,177 | 3,447 | 49,684 | ||||||||||||||||||||||||||||||
Commodity contracts | Commodity contracts | — | 17,393 | 700 | 18,093 | Commodity contracts | — | 30,004 | 1,375 | 31,379 | ||||||||||||||||||||||||||||||
Credit derivatives | Credit derivatives | — | 9,022 | 1,107 | 10,129 | Credit derivatives | — | 10,065 | 950 | 11,015 | ||||||||||||||||||||||||||||||
Total trading derivatives—before netting and collateral | Total trading derivatives—before netting and collateral | $ | 81 | $ | 460,675 | $ | 9,512 | $ | 470,268 | Total trading derivatives—before netting and collateral | $ | 116 | $ | 368,664 | $ | 8,670 | $ | 377,450 | ||||||||||||||||||||||
Cash collateral received(6) | $ | 8,196 | ||||||||||||||||||||||||||||||||||||||
Netting agreements | Netting agreements | $ | (364,879) | Netting agreements | $ | (292,628) | ||||||||||||||||||||||||||||||||||
Netting of cash collateral paid | (45,628) | |||||||||||||||||||||||||||||||||||||||
Netting of cash collateral paid(3) | Netting of cash collateral paid(3) | (29,306) | ||||||||||||||||||||||||||||||||||||||
Total trading derivatives—after netting and collateral | Total trading derivatives—after netting and collateral | $ | 81 | $ | 460,675 | $ | 9,512 | $ | 478,464 | $ | (410,507) | $ | 67,957 | Total trading derivatives—after netting and collateral | $ | 116 | $ | 368,664 | $ | 8,670 | $ | 377,450 | $ | (321,934) | $ | 55,516 | ||||||||||||||
Short-term borrowings | Short-term borrowings | $ | — | $ | 4,464 | $ | 219 | $ | 4,683 | $ | — | $ | 4,683 | Short-term borrowings | $ | — | $ | 7,253 | $ | 105 | $ | 7,358 | $ | — | $ | 7,358 | ||||||||||||||
Long-term debt | Long-term debt | — | 41,853 | 25,210 | 67,063 | — | 67,063 | Long-term debt | — | 57,100 | 25,509 | 82,609 | — | 82,609 | ||||||||||||||||||||||||||
Non-trading derivatives and other financial liabilities measured on a recurring basis | Non-trading derivatives and other financial liabilities measured on a recurring basis | $ | 6,762 | $ | 72 | $ | 1 | $ | 6,835 | $ | — | $ | 6,835 | Non-trading derivatives and other financial liabilities measured on a recurring basis | $ | 3,574 | $ | — | $ | 1 | $ | 3,575 | $ | — | $ | 3,575 | ||||||||||||||
Total liabilities | Total liabilities | $ | 92,196 | $ | 679,937 | $ | 36,019 | $ | 816,348 | $ | (507,576) | $ | 308,772 | Total liabilities | $ | 86,365 | $ | 632,091 | $ | 35,176 | $ | 753,632 | $ | (440,201) | $ | 313,431 | ||||||||||||||
Total as a percentage of gross liabilities(5) | Total as a percentage of gross liabilities(5) | 11.4 | % | 84.1 | % | 4.5 | % | Total as a percentage of gross liabilities(5) | 11.5 | % | 83.9 | % | 4.7 | % |
Net realized/unrealized gains (losses) incl. in(1) | Transfers | Unrealized gains (losses) still held(3) | Net realized/unrealized gains (losses) incl. in(1) | Transfers | Unrealized gains (losses) still held(3) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
In millions of dollars | In millions of dollars | Jun. 30, 2021 | Principal transactions | Other(1)(2) | into Level 3 | out of Level 3 | Purchases | Issuances | Sales | Settlements | Sept. 30, 2021 | In millions of dollars | Mar. 31, 2022 | Principal transactions | Other(1)(2) | into Level 3 | out of Level 3 | Purchases | Issuances | Sales | Settlements | Jun. 30, 2022 | ||||||||||||||||||||||||||||||||||||||||||||||||
Assets | Assets | Assets | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Securities borrowed and purchased under agreements to resell | Securities borrowed and purchased under agreements to resell | $ | 211 | $ | 1 | $ | — | $ | 45 | $ | — | $ | 43 | $ | — | $ | — | $ | (43) | $ | 257 | $ | 3 | Securities borrowed and purchased under agreements to resell | $ | 202 | $ | (12) | $ | — | $ | — | $ | — | $ | 36 | $ | — | $ | — | $ | (43) | $ | 183 | $ | (10) | ||||||||||||||||||||||||
Trading non-derivative assets | Trading non-derivative assets | Trading non-derivative assets | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Trading mortgage-backed securities | Trading mortgage-backed securities | Trading mortgage-backed securities | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
U.S. government-sponsored agency guaranteed | U.S. government-sponsored agency guaranteed | 376 | 20 | — | 60 | (52) | 154 | — | (126) | — | 432 | 17 | U.S. government-sponsored agency guaranteed | 498 | (15) | — | 80 | (89) | 318 | — | (84) | — | 708 | (19) | ||||||||||||||||||||||||||||||||||||||||||||||
Residential | Residential | 95 | 2 | — | 5 | (9) | 19 | — | (51) | — | 61 | 3 | Residential | 118 | — | — | 28 | (11) | 47 | — | (29) | — | 153 | (4) | ||||||||||||||||||||||||||||||||||||||||||||||
Commercial | Commercial | 87 | 1 | — | 17 | (12) | 36 | — | (9) | — | 120 | 1 | Commercial | 52 | (3) | — | 96 | (8) | 4 | — | (3) | — | 138 | (3) | ||||||||||||||||||||||||||||||||||||||||||||||
Total trading mortgage-backed securities | Total trading mortgage-backed securities | $ | 558 | $ | 23 | $ | — | $ | 82 | $ | (73) | $ | 209 | $ | — | $ | (186) | $ | — | $ | 613 | $ | 21 | Total trading mortgage-backed securities | $ | 668 | $ | (18) | $ | — | $ | 204 | $ | (108) | $ | 369 | $ | — | $ | (116) | $ | — | $ | 999 | $ | (26) | ||||||||||||||||||||||||
U.S. Treasury and federal agency securities | U.S. Treasury and federal agency securities | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | U.S. Treasury and federal agency securities | $ | 2 | $ | — | $ | — | $ | — | $ | (1) | $ | — | $ | — | $ | — | $ | — | $ | 1 | $ | — | ||||||||||||||||||||||||
State and municipal | State and municipal | 70 | 3 | — | — | — | — | — | (2) | — | 71 | 4 | State and municipal | 6 | 4 | — | 71 | — | — | — | (1) | — | 80 | (3) | ||||||||||||||||||||||||||||||||||||||||||||||
Foreign government | Foreign government | 141 | 26 | — | 7 | (98) | 6 | — | (49) | — | 33 | 4 | Foreign government | 94 | (27) | — | 249 | (1) | 57 | — | (8) | — | 364 | (12) | ||||||||||||||||||||||||||||||||||||||||||||||
Corporate | Corporate | 823 | 3 | — | 123 | (110) | 246 | — | (544) | — | 541 | 16 | Corporate | 1,013 | 59 | — | 120 | (244) | 181 | — | (592) | — | 537 | 38 | ||||||||||||||||||||||||||||||||||||||||||||||
Marketable equity securities | Marketable equity securities | 147 | 12 | — | 55 | (9) | 58 | — | (58) | — | 205 | 14 | Marketable equity securities | 199 | (9) | — | 14 | (61) | 58 | — | (68) | — | 133 | (23) | ||||||||||||||||||||||||||||||||||||||||||||||
Asset-backed securities | Asset-backed securities | 692 | 101 | — | 128 | (19) | 186 | — | (424) | — | 664 | (28) | Asset-backed securities | 466 | (24) | — | 82 | (100) | 262 | — | (132) | — | 554 | (26) | ||||||||||||||||||||||||||||||||||||||||||||||
Other trading assets | Other trading assets | 555 | 138 | — | 25 | (67) | 379 | — | (115) | — | 915 | 36 | Other trading assets | 492 | 79 | — | 305 | (30) | 117 | 6 | (149) | (4) | 816 | 54 | ||||||||||||||||||||||||||||||||||||||||||||||
Total trading non-derivative assets | Total trading non-derivative assets | $ | 2,986 | $ | 306 | $ | — | $ | 420 | $ | (376) | $ | 1,084 | $ | — | $ | (1,378) | $ | — | $ | 3,042 | $ | 67 | Total trading non-derivative assets | $ | 2,940 | $ | 64 | $ | — | $ | 1,045 | $ | (545) | $ | 1,044 | $ | 6 | $ | (1,066) | $ | (4) | $ | 3,484 | $ | 2 | ||||||||||||||||||||||||
Trading derivatives, net(4) | Trading derivatives, net(4) | Trading derivatives, net(4) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest rate contracts | Interest rate contracts | $ | 1,764 | $ | (160) | $ | — | $ | (79) | $ | 56 | $ | 10 | $ | — | $ | — | $ | (100) | $ | 1,491 | $ | (189) | Interest rate contracts | $ | 779 | $ | 434 | $ | — | $ | 141 | $ | (272) | $ | 7 | $ | 6 | $ | (6) | $ | (208) | $ | 881 | $ | 473 | ||||||||||||||||||||||||
Foreign exchange contracts | Foreign exchange contracts | (184) | 131 | — | (71) | (22) | 11 | — | (3) | (70) | (208) | 121 | Foreign exchange contracts | (131) | 769 | — | 34 | (50) | 73 | 20 | (547) | (12) | 156 | 126 | ||||||||||||||||||||||||||||||||||||||||||||||
Equity contracts | Equity contracts | (2,550) | 538 | — | (370) | 668 | 134 | — | (98) | (295) | (1,973) | 452 | Equity contracts | (1,564) | 1,189 | — | (60) | 232 | 220 | — | (91) | (27) | (101) | 1,182 | ||||||||||||||||||||||||||||||||||||||||||||||
Commodity contracts | Commodity contracts | 142 | 200 | — | (3) | 106 | 44 | — | (50) | (21) | 418 | 218 | Commodity contracts | 217 | 208 | — | (74) | 84 | 67 | — | (98) | (149) | 255 | 246 | ||||||||||||||||||||||||||||||||||||||||||||||
Credit derivatives | Credit derivatives | (41) | (84) | — | 24 | 116 | — | — | — | 35 | 50 | (87) | Credit derivatives | (4) | 6 | — | (97) | (164) | — | — | — | (90) | (349) | (26) | ||||||||||||||||||||||||||||||||||||||||||||||
Total trading derivatives, net(4) | Total trading derivatives, net(4) | $ | (869) | $ | 625 | $ | — | $ | (499) | $ | 924 | $ | 199 | $ | — | $ | (151) | $ | (451) | $ | (222) | $ | 515 | Total trading derivatives, net(4) | $ | (703) | $ | 2,606 | $ | — | $ | (56) | $ | (170) | $ | 367 | $ | 26 | $ | (742) | $ | (486) | $ | 842 | $ | 2,001 |
Net realized/unrealized gains (losses) incl. in(1) | Transfers | Unrealized gains (losses) still held(3) | Net realized/unrealized gains (losses) incl. in(1) | Transfers | Unrealized gains (losses) still held(3) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
In millions of dollars | In millions of dollars | Jun. 30, 2021 | Principal transactions | Other(1)(2) | into Level 3 | out of Level 3 | Purchases | Issuances | Sales | Settlements | Sept. 30, 2021 | In millions of dollars | Mar. 31, 2022 | Principal transactions | Other(1)(2) | into Level 3 | out of Level 3 | Purchases | Issuances | Sales | Settlements | Jun. 30, 2022 | ||||||||||||||||||||||||||||||||||||||||||||||||
Investments | Investments | Investments | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Mortgage-backed securities | Mortgage-backed securities | Mortgage-backed securities | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
U.S. government-sponsored agency guaranteed | U.S. government-sponsored agency guaranteed | $ | 52 | $ | — | $ | — | $ | 20 | $ | (10) | $ | — | $ | — | $ | (10) | $ | — | $ | 52 | $ | — | U.S. government-sponsored agency guaranteed | $ | 46 | $ | — | $ | (2) | $ | — | $ | (10) | $ | — | $ | — | $ | (6) | $ | — | $ | 28 | $ | (2) | ||||||||||||||||||||||||
Residential | Residential | — | — | — | — | — | 12 | — | — | — | 12 | — | Residential | 44 | — | (4) | — | — | — | — | — | — | 40 | (4) | ||||||||||||||||||||||||||||||||||||||||||||||
Total investment mortgage-backed securities | Total investment mortgage-backed securities | $ | 52 | $ | — | $ | — | $ | 20 | $ | (10) | $ | 12 | $ | — | $ | (10) | $ | — | $ | 64 | $ | — | Total investment mortgage-backed securities | $ | 90 | $ | — | $ | (6) | $ | — | $ | (10) | $ | — | $ | — | $ | (6) | $ | — | $ | 68 | $ | (6) | ||||||||||||||||||||||||
U.S. Treasury and federal agency securities | U.S. Treasury and federal agency securities | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | U.S. Treasury and federal agency securities | $ | 1 | $ | — | $ | (1) | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||||||||
State and municipal | State and municipal | 748 | — | (6) | — | — | 2 | — | (9) | — | 735 | (6) | State and municipal | 705 | — | (34) | — | (131) | 1 | — | (2) | — | 539 | (14) | ||||||||||||||||||||||||||||||||||||||||||||||
Foreign government | Foreign government | 957 | — | (25) | 63 | (232) | 99 | — | (50) | — | 812 | (6) | Foreign government | 1,029 | — | (15) | — | (54) | 202 | — | (161) | — | 1,001 | (16) | ||||||||||||||||||||||||||||||||||||||||||||||
Corporate | Corporate | 104 | — | (2) | 151 | (41) | 7 | — | (27) | — | 192 | — | Corporate | 237 | — | (3) | 100 | — | — | — | — | — | 334 | (1) | ||||||||||||||||||||||||||||||||||||||||||||||
Marketable equity securities | Marketable equity securities | — | — | — | — | — | — | — | — | — | — | — | Marketable equity securities | 16 | — | (6) | — | — | — | — | — | — | 10 | (7) | ||||||||||||||||||||||||||||||||||||||||||||||
Asset-backed securities | Asset-backed securities | 3 | — | — | — | — | — | — | — | — | 3 | — | Asset-backed securities | 2 | — | (1) | — | — | — | — | — | — | 1 | — | ||||||||||||||||||||||||||||||||||||||||||||||
Other debt securities | — | — | — | — | — | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Non-marketable equity securities | Non-marketable equity securities | 382 | — | (36) | 1 | — | — | — | — | — | 347 | (53) | Non-marketable equity securities | 298 | — | 2 | — | — | 20 | — | (10) | — | 310 | (1) | ||||||||||||||||||||||||||||||||||||||||||||||
Total investments | Total investments | $ | 2,246 | $ | — | $ | (69) | $ | 235 | $ | (283) | $ | 120 | $ | — | $ | (96) | $ | — | $ | 2,153 | $ | (65) | Total investments | $ | 2,378 | $ | — | $ | (64) | $ | 100 | $ | (195) | $ | 223 | $ | — | $ | (179) | $ | — | $ | 2,263 | $ | (45) | ||||||||||||||||||||||||
Loans | Loans | $ | 429 | $ | — | $ | (16) | $ | — | $ | (20) | $ | — | $ | 336 | $ | — | $ | (7) | $ | 722 | $ | 14 | Loans | $ | 622 | $ | — | $ | (105) | $ | 1 | $ | (193) | $ | — | $ | 1 | $ | — | $ | (1) | $ | 325 | $ | (7) | ||||||||||||||||||||||||
Mortgage servicing rights | Mortgage servicing rights | 419 | — | (3) | — | — | — | 8 | — | (15) | 409 | (3) | Mortgage servicing rights | 520 | — | 59 | 0 | — | 0 | 35 | 0 | (14) | 600 | 59 | ||||||||||||||||||||||||||||||||||||||||||||||
Other financial assets measured on a recurring basis | Other financial assets measured on a recurring basis | 55 | — | 3 | 10 | (4) | 33 | — | (11) | — | 86 | — | Other financial assets measured on a recurring basis | 68 | — | 4 | 7 | (12) | 13 | 15 | — | (32) | 63 | 7 | ||||||||||||||||||||||||||||||||||||||||||||||
Liabilities | Liabilities | Liabilities | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest-bearing deposits | Interest-bearing deposits | $ | 154 | $ | — | $ | (25) | $ | — | $ | — | $ | — | $ | 14 | $ | — | $ | (11) | $ | 182 | $ | 5 | Interest-bearing deposits | $ | 191 | $ | — | $ | 7 | $ | — | $ | (122) | $ | — | $ | 17 | $ | — | $ | (61) | $ | 18 | $ | — | ||||||||||||||||||||||||
Securities loaned and sold under agreements to repurchase | Securities loaned and sold under agreements to repurchase | 488 | (29) | — | 183 | — | — | — | — | (44) | 656 | 6 | Securities loaned and sold under agreements to repurchase | 612 | 24 | — | — | (3) | 16 | — | — | (8) | 593 | 10 | ||||||||||||||||||||||||||||||||||||||||||||||
Trading account liabilities | Trading account liabilities | Trading account liabilities | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Securities sold, not yet purchased | Securities sold, not yet purchased | 168 | (22) | — | 7 | (4) | 21 | — | — | (126) | 88 | 4 | Securities sold, not yet purchased | 38 | (8) | — | 10 | (4) | 30 | — | 1 | (11) | 72 | (12) | ||||||||||||||||||||||||||||||||||||||||||||||
Other trading liabilities | 1 | 1 | — | — | — | — | — | — | — | — | 4 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Short-term borrowings | Short-term borrowings | 41 | (1) | — | 2 | (12) | — | 2 | — | (31) | 3 | 2 | Short-term borrowings | 36 | 1 | — | 12 | (12) | — | 69 | — | (23) | 81 | 2 | ||||||||||||||||||||||||||||||||||||||||||||||
Long-term debt | Long-term debt | 25,068 | 486 | — | 2,052 | (1,086) | — | 1,526 | — | (1,032) | 26,042 | 434 | Long-term debt | 27,432 | 4,719 | — | 3,335 | (2,634) | — | 6,527 | — | (163) | 29,778 | 4,232 | ||||||||||||||||||||||||||||||||||||||||||||||
Other financial liabilities measured on a recurring basis | 4 | — | — | — | — | — | — | 0 | (3) | 1 | — |
Net realized/unrealized gains (losses) incl. in(1) | Transfers | Unrealized gains (losses) still held(3) | Net realized/unrealized gains (losses) incl. in(1) | Transfers | Unrealized gains (losses) still held(3) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
In millions of dollars | In millions of dollars | Dec. 31, 2020 | Principal transactions | Other(1)(2) | into Level 3 | out of Level 3 | Purchases | Issuances | Sales | Settlements | Sept. 30, 2021 | In millions of dollars | Dec. 31, 2021 | Principal transactions | Other(1)(2) | into Level 3 | out of Level 3 | Purchases | Issuances | Sales | Settlements | Jun. 30, 2022 | ||||||||||||||||||||||||||||||||||||||||||||||||
Assets | Assets | Assets | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Securities borrowed and purchased under agreements to resell | Securities borrowed and purchased under agreements to resell | $ | 320 | $ | (10) | $ | — | $ | 45 | $ | (49) | $ | 319 | $ | — | $ | — | $ | (368) | $ | 257 | $ | 25 | Securities borrowed and purchased under agreements to resell | $ | 231 | $ | (1) | $ | — | $ | — | $ | — | $ | 124 | $ | — | $ | — | $ | (171) | $ | 183 | $ | (7) | ||||||||||||||||||||||||
Trading non-derivative assets | Trading non-derivative assets | Trading non-derivative assets | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Trading mortgage-backed securities | Trading mortgage-backed securities | Trading mortgage-backed securities | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
U.S. government-sponsored agency guaranteed | U.S. government-sponsored agency guaranteed | 27 | 21 | — | 312 | (60) | 268 | — | (136) | — | 432 | 31 | U.S. government-sponsored agency guaranteed | 496 | (13) | — | 127 | (158) | 484 | — | (228) | — | 708 | (21) | ||||||||||||||||||||||||||||||||||||||||||||||
Residential | Residential | 340 | 24 | — | 74 | (77) | 220 | — | (520) | — | 61 | 17 | Residential | 104 | — | — | 61 | (32) | 85 | — | (65) | — | 153 | (5) | ||||||||||||||||||||||||||||||||||||||||||||||
Commercial | Commercial | 136 | 22 | — | 93 | (53) | 60 | — | (138) | — | 120 | 2 | Commercial | 81 | (5) | — | 97 | (34) | 9 | — | (10) | — | 138 | (2) | ||||||||||||||||||||||||||||||||||||||||||||||
Total trading mortgage-backed securities | Total trading mortgage-backed securities | $ | 503 | $ | 67 | $ | — | $ | 479 | $ | (190) | $ | 548 | $ | — | $ | (794) | $ | — | $ | 613 | $ | 50 | Total trading mortgage-backed securities | $ | 681 | $ | (18) | $ | — | $ | 285 | $ | (224) | $ | 578 | $ | — | $ | (303) | $ | — | $ | 999 | $ | (28) | ||||||||||||||||||||||||
U.S. Treasury and federal agency securities | U.S. Treasury and federal agency securities | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | U.S. Treasury and federal agency securities | $ | 4 | $ | (4) | $ | — | $ | 2 | $ | (1) | $ | — | $ | — | $ | — | $ | — | $ | 1 | $ | — | ||||||||||||||||||||||||
State and municipal | State and municipal | 94 | 3 | — | — | (29) | 5 | — | (2) | — | 71 | 4 | State and municipal | 37 | 5 | — | 71 | (20) | 1 | — | (14) | — | 80 | (5) | ||||||||||||||||||||||||||||||||||||||||||||||
Foreign government | Foreign government | 51 | 31 | — | 143 | (126) | 77 | — | (143) | — | 33 | 4 | Foreign government | 23 | (26) | — | 299 | (1) | 87 | — | (18) | — | 364 | (18) | ||||||||||||||||||||||||||||||||||||||||||||||
Corporate | Corporate | 375 | 78 | — | 441 | (278) | 721 | — | (796) | — | 541 | (6) | Corporate | 412 | 68 | — | 262 | (278) | 828 | — | (755) | — | 537 | 18 | ||||||||||||||||||||||||||||||||||||||||||||||
Marketable equity securities | Marketable equity securities | 73 | 59 | — | 139 | (51) | 93 | — | (108) | — | 205 | 26 | Marketable equity securities | 174 | (14) | — | 63 | (87) | 108 | — | (111) | — | 133 | (40) | ||||||||||||||||||||||||||||||||||||||||||||||
Asset-backed securities | Asset-backed securities | 1,606 | 349 | — | 163 | (217) | 1,120 | — | (2,357) | — | 664 | (58) | Asset-backed securities | 613 | (19) | — | 140 | (167) | 393 | — | (406) | — | 554 | (45) | ||||||||||||||||||||||||||||||||||||||||||||||
Other trading assets | Other trading assets | 945 | 156 | — | 86 | (196) | 727 | 4 | (803) | (4) | 915 | 29 | Other trading assets | 576 | 126 | — | 333 | (92) | 366 | 16 | (501) | (8) | 816 | 75 | ||||||||||||||||||||||||||||||||||||||||||||||
Total trading non-derivative assets | Total trading non-derivative assets | $ | 3,647 | $ | 743 | $ | — | $ | 1,451 | $ | (1,087) | $ | 3,291 | $ | 4 | $ | (5,003) | $ | (4) | $ | 3,042 | $ | 49 | Total trading non-derivative assets | $ | 2,520 | $ | 118 | $ | — | $ | 1,455 | $ | (870) | $ | 2,361 | $ | 16 | $ | (2,108) | $ | (8) | $ | 3,484 | $ | (43) | ||||||||||||||||||||||||
Trading derivatives, net(4) | Trading derivatives, net(4) | Trading derivatives, net(4) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest rate contracts | Interest rate contracts | $ | 1,614 | $ | (458) | $ | — | $ | 94 | $ | 377 | $ | 12 | $ | (84) | $ | — | $ | (64) | $ | 1,491 | $ | (216) | Interest rate contracts | $ | 1,726 | $ | 600 | $ | — | $ | 73 | $ | (803) | $ | 9 | $ | 6 | $ | (6) | $ | (724) | $ | 881 | $ | 650 | ||||||||||||||||||||||||
Foreign exchange contracts | Foreign exchange contracts | 52 | 52 | — | (63) | (18) | 145 | — | (300) | (76) | (208) | 53 | Foreign exchange contracts | (89) | 1,164 | — | (475) | (6) | 175 | 20 | (611) | (22) | 156 | 235 | ||||||||||||||||||||||||||||||||||||||||||||||
Equity contracts | Equity contracts | (3,213) | 1,150 | — | (968) | 1,566 | 243 | — | (215) | (536) | (1,973) | 237 | Equity contracts | (2,140) | 1,997 | — | (73) | 207 | 405 | — | (316) | (181) | (101) | 1,634 | ||||||||||||||||||||||||||||||||||||||||||||||
Commodity contracts | Commodity contracts | 292 | 750 | — | 7 | (511) | 138 | — | (205) | (53) | 418 | 272 | Commodity contracts | 422 | 622 | — | (45) | (409) | 120 | — | (142) | (313) | 255 | 410 | ||||||||||||||||||||||||||||||||||||||||||||||
Credit derivatives | Credit derivatives | 48 | (205) | — | 39 | 45 | — | — | — | 123 | 50 | (239) | Credit derivatives | (31) | (57) | — | (65) | (151) | — | — | (1) | (44) | (349) | (95) | ||||||||||||||||||||||||||||||||||||||||||||||
Total trading derivatives, net(4) | Total trading derivatives, net(4) | $ | (1,207) | $ | 1,289 | $ | — | $ | (891) | $ | 1,459 | $ | 538 | $ | (84) | $ | (720) | $ | (606) | $ | (222) | $ | 107 | Total trading derivatives, net(4) | $ | (112) | $ | 4,326 | $ | — | $ | (585) | $ | (1,162) | $ | 709 | $ | 26 | $ | (1,076) | $ | (1,284) | $ | 842 | $ | 2,834 | ||||||||||||||||||||||||
Investments | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Mortgage-backed securities | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
U.S. government-sponsored agency guaranteed | $ | 30 | $ | — | $ | 2 | $ | 42 | $ | (10) | $ | 3 | $ | — | $ | (15) | $ | — | $ | 52 | $ | (53) | ||||||||||||||||||||||||||||||||||||||||||||||||
Residential | — | — | — | — | — | 12 | — | — | — | 12 | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total investment mortgage-backed securities | $ | 30 | $ | — | $ | 2 | $ | 42 | $ | (10) | $ | 15 | $ | — | $ | (15) | $ | — | $ | 64 | $ | (53) | ||||||||||||||||||||||||||||||||||||||||||||||||
U.S. Treasury and federal agency securities | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||||||||||||||||||||||||||||||||
State and municipal | 834 | — | (16) | 58 | (108) | 5 | — | (38) | — | 735 | (12) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Foreign government | 268 | — | (24) | 503 | (521) | 744 | — | (158) | — | 812 | (4) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Corporate | 60 | — | (13) | 183 | (41) | 37 | — | (34) | — | 192 | 2 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Asset-backed securities | 1 | — | (21) | 36 | — | — | — | (13) | — | 3 | (25) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Non-marketable equity securities | 349 | — | 4 | 2 | — | — | — | (8) | — | 347 | (53) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total investments | $ | 1,542 | $ | — | $ | (68) | $ | 824 | $ | (680) | $ | 801 | $ | — | $ | (266) | $ | — | $ | 2,153 | $ | (145) |
Net realized/unrealized gains (losses) incl. in(1) | Transfers | Unrealized gains (losses) still held(3) | Net realized/unrealized gains (losses) incl. in(1) | Transfers | Unrealized gains (losses) still held(3) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
In millions of dollars | In millions of dollars | Dec. 31 2020 | Principal transactions | Other(1)(2) | into Level 3 | out of Level 3 | Purchases | Issuances | Sales | Settlements | Sept. 30, 2021 | In millions of dollars | Dec. 31, 2021 | Principal transactions | Other(1)(2) | into Level 3 | out of Level 3 | Purchases | Issuances | Sales | Settlements | Jun. 30, 2022 | ||||||||||||||||||||||||||||||||||||||||||||||||
Investments | Investments | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Mortgage-backed securities | Mortgage-backed securities | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
U.S. government-sponsored agency guaranteed | U.S. government-sponsored agency guaranteed | $ | 51 | $ | — | $ | (9) | $ | 1 | $ | (10) | $ | 4 | $ | — | $ | (9) | $ | — | $ | 28 | $ | (4) | |||||||||||||||||||||||||||||||||||||||||||||||
Residential | Residential | 94 | — | (6) | — | (39) | — | — | (9) | — | 40 | (5) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total investment mortgage-backed securities | Total investment mortgage-backed securities | $ | 145 | $ | — | $ | (15) | $ | 1 | $ | (49) | $ | 4 | $ | — | $ | (18) | $ | — | $ | 68 | $ | (9) | |||||||||||||||||||||||||||||||||||||||||||||||
U.S. Treasury and federal agency securities | U.S. Treasury and federal agency securities | $ | 1 | $ | — | $ | (1) | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||||||||||||||||||||||||||||||||
State and municipal | State and municipal | 772 | — | (78) | — | (142) | 1 | — | (14) | — | 539 | (47) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Foreign government | Foreign government | 786 | — | (39) | 250 | (113) | 385 | — | (268) | — | 1,001 | (19) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Corporate | Corporate | 188 | — | (7) | 153 | — | — | — | — | — | 334 | (2) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Marketable equity securities | Marketable equity securities | 16 | — | (6) | — | — | — | — | — | — | 10 | (7) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Asset-backed securities | Asset-backed securities | 3 | — | 11 | — | — | — | — | (13) | — | 1 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Non-marketable equity securities | Non-marketable equity securities | 316 | — | (12) | 11 | — | 20 | — | (25) | — | 310 | (1) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total investments | Total investments | $ | 2,227 | $ | — | $ | (147) | $ | 415 | $ | (304) | $ | 410 | $ | — | $ | (338) | $ | — | $ | 2,263 | $ | (85) | |||||||||||||||||||||||||||||||||||||||||||||||
Loans | Loans | $ | 1,985 | $ | — | $ | 332 | $ | 271 | $ | (2,071) | $ | — | $ | 337 | $ | — | $ | (132) | $ | 722 | $ | 111 | Loans | $ | 711 | $ | — | $ | (190) | $ | 1 | $ | (195) | $ | — | $ | 1 | $ | — | $ | (3) | $ | 325 | $ | 166 | ||||||||||||||||||||||||
Mortgage servicing rights | Mortgage servicing rights | 336 | — | 49 | — | — | — | 76 | — | (52) | 409 | 50 | Mortgage servicing rights | 404 | — | 158 | — | — | — | 69 | — | (31) | 600 | 157 | ||||||||||||||||||||||||||||||||||||||||||||||
Other financial assets measured on a recurring basis | Other financial assets measured on a recurring basis | — | — | 3 | 65 | (4) | 33 | — | (11) | — | 86 | — | Other financial assets measured on a recurring basis | 73 | — | 7 | 7 | (16) | 14 | 40 | (1) | (61) | 63 | 48 | ||||||||||||||||||||||||||||||||||||||||||||||
Liabilities | Liabilities | Liabilities | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest-bearing deposits | Interest-bearing deposits | $ | 206 | $ | — | $ | (7) | $ | — | $ | (44) | $ | — | $ | 34 | $ | — | $ | (21) | $ | 182 | $ | (146) | Interest-bearing deposits | $ | 183 | $ | — | $ | 3 | $ | 7 | $ | (122) | $ | — | $ | 18 | $ | — | $ | (65) | $ | 18 | $ | — | ||||||||||||||||||||||||
Securities loaned and sold under agreements to repurchase | Securities loaned and sold under agreements to repurchase | 631 | (22) | — | 183 | (483) | 488 | — | — | (185) | 656 | 25 | Securities loaned and sold under agreements to repurchase | 643 | 50 | — | — | (3) | 16 | — | — | (13) | 593 | 28 | ||||||||||||||||||||||||||||||||||||||||||||||
Trading account liabilities | Trading account liabilities | Trading account liabilities | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Securities sold, not yet purchased | Securities sold, not yet purchased | 214 | 39 | — | 69 | (29) | 41 | — | — | (168) | 88 | 4 | Securities sold, not yet purchased | 65 | 21 | — | 35 | (19) | 83 | — | 1 | (72) | 72 | (2) | ||||||||||||||||||||||||||||||||||||||||||||||
Other trading liabilities | 26 | 26 | — | — | — | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Short-term borrowings | Short-term borrowings | 219 | 31 | — | 44 | (56) | — | 27 | — | (200) | 3 | 2 | Short-term borrowings | 105 | 89 | — | 40 | (21) | — | 76 | — | (30) | 81 | 1 | ||||||||||||||||||||||||||||||||||||||||||||||
Long-term debt | Long-term debt | 25,210 | 2,259 | — | 6,921 | (7,054) | — | 9,071 | — | (5,847) | 26,042 | 1,305 | Long-term debt | 25,509 | 8,245 | — | 6,743 | (3,507) | — | 9,699 | — | (421) | 29,778 | (4,197) | ||||||||||||||||||||||||||||||||||||||||||||||
Other financial liabilities measured on a recurring basis | Other financial liabilities measured on a recurring basis | 1 | — | (3) | — | (4) | — | 14 | — | (13) | 1 | — | Other financial liabilities measured on a recurring basis | 1 | — | 1 | — | — | — | — | — | — | — | — |
Net realized/unrealized gains (losses) incl. in(1) | Transfers | Unrealized gains (losses) still held(3) | |||||||||||||||||||||||||||||||||
In millions of dollars | Mar. 31, 2021 | Principal transactions | Other(1)(2) | into Level 3 | out of Level 3 | Purchases | Issuances | Sales | Settlements | Jun. 30, 2021 | |||||||||||||||||||||||||
Assets | |||||||||||||||||||||||||||||||||||
Securities borrowed and purchased under agreements to resell | $ | 262 | $ | (2) | $ | — | $ | — | $ | (49) | $ | 43 | $ | — | $ | — | $ | (43) | $ | 211 | $ | 1 | |||||||||||||
Trading non-derivative assets | |||||||||||||||||||||||||||||||||||
Trading mortgage-backed securities | |||||||||||||||||||||||||||||||||||
U.S. government-sponsored agency guaranteed | 38 | 2 | — | 238 | (7) | 113 | — | (8) | — | 376 | (12) | ||||||||||||||||||||||||
Residential | 268 | (1) | — | 41 | (65) | 57 | — | (205) | — | 95 | 2 | ||||||||||||||||||||||||
Commercial | 59 | 16 | — | 60 | (8) | 11 | — | (51) | — | 87 | 3 | ||||||||||||||||||||||||
Total trading mortgage-backed securities | $ | 365 | $ | 17 | $ | — | $ | 339 | $ | (80) | $ | 181 | $ | — | $ | (264) | $ | — | $ | 558 | $ | (7) | |||||||||||||
U.S. Treasury and federal agency securities | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||||
State and municipal | 94 | — | — | — | (29) | 5 | — | — | — | 70 | — | ||||||||||||||||||||||||
Foreign government | 81 | 4 | — | 125 | (28) | 14 | — | (55) | — | 141 | 1 | ||||||||||||||||||||||||
Corporate | 290 | (15) | — | 312 | (50) | 408 | — | (122) | — | 823 | (36) | ||||||||||||||||||||||||
Marketable equity securities | 89 | 2 | — | 80 | (40) | 23 | — | (7) | — | 147 | 15 | ||||||||||||||||||||||||
Asset-backed securities | 1,208 | 209 | — | 17 | (148) | 352 | — | (946) | — | 692 | 22 | ||||||||||||||||||||||||
Other trading assets | 571 | 62 | — | 31 | (121) | 201 | — | (189) | — | 555 | 4 | ||||||||||||||||||||||||
Total trading non-derivative assets | $ | 2,698 | $ | 279 | $ | — | $ | 904 | $ | (496) | $ | 1,184 | $ | — | $ | (1,583) | $ | — | $ | 2,986 | $ | (1) | |||||||||||||
Trading derivatives, net(4) | |||||||||||||||||||||||||||||||||||
Interest rate contracts | $ | 1,229 | $ | (126) | $ | — | $ | 218 | $ | 321 | $ | 2 | $ | — | $ | — | $ | 120 | $ | 1,764 | $ | (70) | |||||||||||||
Foreign exchange contracts | (86) | 59 | — | — | 4 | 111 | — | (282) | 10 | (184) | (28) | ||||||||||||||||||||||||
Equity contracts | (2,876) | 309 | — | (634) | 892 | 85 | — | (94) | (232) | (2,550) | 349 | ||||||||||||||||||||||||
Commodity contracts | 732 | 236 | — | (148) | (612) | 28 | — | (45) | (49) | 142 | (194) | ||||||||||||||||||||||||
Credit derivatives | 71 | (57) | — | (52) | (74) | — | — | — | 71 | (41) | (107) | ||||||||||||||||||||||||
Total trading derivatives, net(4) | $ | (930) | $ | 421 | $ | — | $ | (616) | $ | 531 | $ | 226 | $ | — | $ | (421) | $ | (80) | $ | (869) | $ | (50) |
Net realized/unrealized gains (losses) incl. in(1) | Transfers | Unrealized gains (losses) still held(3) | |||||||||||||||||||||||||||||||||
In millions of dollars | Mar. 31, 2021 | Principal transactions | Other(1)(2) | into Level 3 | out of Level 3 | Purchases | Issuances | Sales | Settlements | Jun. 30, 2021 | |||||||||||||||||||||||||
Investments | |||||||||||||||||||||||||||||||||||
Mortgage-backed securities | |||||||||||||||||||||||||||||||||||
U.S. government-sponsored agency guaranteed | $ | 30 | $ | — | $ | 2 | $ | 22 | $ | — | $ | 3 | $ | — | $ | (5) | $ | — | $ | 52 | $ | (21) | |||||||||||||
Total investment mortgage-backed securities | $ | 30 | $ | — | $ | 2 | $ | 22 | $ | — | $ | 3 | $ | — | $ | (5) | $ | — | $ | 52 | $ | (21) | |||||||||||||
U.S. Treasury and federal agency securities | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||||
State and municipal | 794 | — | 8 | 54 | (108) | 2 | — | (2) | — | 748 | 6 | ||||||||||||||||||||||||
Foreign government | 523 | — | 3 | 440 | (289) | 315 | — | (35) | — | 957 | 3 | ||||||||||||||||||||||||
Corporate | 56 | — | (7) | 32 | — | 30 | — | (7) | — | 104 | (1) | ||||||||||||||||||||||||
Asset-backed securities | 4 | — | (21) | 33 | — | — | — | (13) | — | 3 | 1 | ||||||||||||||||||||||||
Non-marketable equity securities | 352 | — | 30 | — | — | — | — | — | — | 382 | 2 | ||||||||||||||||||||||||
Total investments | $ | 1,759 | $ | — | $ | 15 | $ | 581 | $ | (397) | $ | 350 | $ | — | $ | (62) | $ | — | $ | 2,246 | $ | (10) | |||||||||||||
Loans | $ | 1,944 | $ | — | $ | 476 | $ | 60 | $ | (2,051) | $ | — | $ | — | $ | — | $ | — | $ | 429 | $ | 169 | |||||||||||||
Mortgage servicing rights | 433 | — | (21) | — | — | — | 25 | — | (18) | 419 | (21) | ||||||||||||||||||||||||
Other financial assets measured on a recurring basis | — | — | — | 55 | — | — | — | — | — | 55 | — | ||||||||||||||||||||||||
Liabilities | |||||||||||||||||||||||||||||||||||
Interest-bearing deposits | $ | 199 | $ | — | $ | 2 | $ | — | $ | (44) | $ | — | $ | 11 | $ | — | $ | (10) | $ | 154 | $ | — | |||||||||||||
Securities loaned and sold under agreements to repurchase | 977 | 22 | — | — | (483) | 80 | — | — | (64) | 488 | — | ||||||||||||||||||||||||
Trading account liabilities | |||||||||||||||||||||||||||||||||||
Securities sold, not yet purchased | 167 | 7 | — | 54 | (21) | 10 | — | — | (35) | 168 | 26 | ||||||||||||||||||||||||
Other trading liabilities | 6 | 5 | — | — | — | — | — | — | — | 1 | 4 | ||||||||||||||||||||||||
Short-term borrowings | 49 | 33 | — | 40 | (32) | — | 17 | — | — | 41 | 17 | ||||||||||||||||||||||||
Long-term debt | 26,337 | (849) | — | 3,937 | (5,966) | — | 1,825 | — | (1,914) | 25,068 | (699) | ||||||||||||||||||||||||
Other financial liabilities measured on a recurring basis | 8 | — | — | — | (4) | — | — | 0 | — | 4 | — | ||||||||||||||||||||||||
Net realized/unrealized gains (losses) incl. in(1) | Transfers | Unrealized gains (losses) still held(3) | Net realized/unrealized gains (losses) incl. in(1) | Transfers | Unrealized gains (losses) still held(3) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
In millions of dollars | In millions of dollars | Jun. 30, 2020 | Principal transactions | Other(1)(2) | into Level 3 | out of Level 3 | Purchases | Issuances | Sales | Settlements | Sept. 30, 2020 | In millions of dollars | Dec. 31, 2020 | Principal transactions | Other(1)(2) | into Level 3 | out of Level 3 | Purchases | Issuances | Sales | Settlements | Jun. 30, 2021 | ||||||||||||||||||||||||||||||||||||||||||||||||
Assets | Assets | Assets | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Securities borrowed or purchased under agreements to resell | $ | 326 | $ | 4 | $ | — | $ | — | $ | — | $ | 43 | $ | — | $ | — | $ | (43) | $ | 330 | $ | 4 | ||||||||||||||||||||||||||||||||||||||||||||||||
Securities borrowed and purchased under agreements to resell | Securities borrowed and purchased under agreements to resell | $ | 320 | $ | (11) | $ | — | $ | — | $ | (49) | $ | 276 | $ | — | $ | — | $ | (325) | $ | 211 | $ | 1 | |||||||||||||||||||||||||||||||||||||||||||||||
Trading non-derivative assets | Trading non-derivative assets | Trading non-derivative assets | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Trading mortgage-backed securities | Trading mortgage-backed securities | Trading mortgage-backed securities | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
U.S. government-sponsored agency guaranteed | U.S. government-sponsored agency guaranteed | 96 | 9 | — | 5 | — | 182 | — | (26) | — | 266 | 9 | U.S. government-sponsored agency guaranteed | 27 | 1 | — | 252 | (8) | 114 | — | (10) | — | 376 | 16 | ||||||||||||||||||||||||||||||||||||||||||||||
Residential | Residential | 433 | 64 | — | 10 | (17) | 67 | — | (288) | — | 269 | (1) | Residential | 340 | 22 | — | 69 | (68) | 201 | — | (469) | — | 95 | 18 | ||||||||||||||||||||||||||||||||||||||||||||||
Commercial | Commercial | 217 | 1 | — | 13 | — | 24 | — | (74) | — | 181 | — | Commercial | 136 | 21 | — | 76 | (41) | 24 | — | (129) | — | 87 | 2 | ||||||||||||||||||||||||||||||||||||||||||||||
Total trading mortgage-backed securities | Total trading mortgage-backed securities | $ | 746 | $ | 74 | $ | — | $ | 28 | $ | (17) | $ | 273 | $ | — | $ | (388) | $ | — | $ | 716 | $ | 8 | Total trading mortgage-backed securities | $ | 503 | $ | 44 | $ | — | $ | 397 | $ | (117) | $ | 339 | $ | — | $ | (608) | $ | — | $ | 558 | $ | 36 | ||||||||||||||||||||||||
U.S. Treasury and federal agency securities | U.S. Treasury and federal agency securities | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | U.S. Treasury and federal agency securities | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||||||||
State and municipal | State and municipal | 117 | — | — | — | — | — | — | (41) | — | 76 | — | State and municipal | 94 | — | — | — | (29) | 5 | — | — | — | 70 | 1 | ||||||||||||||||||||||||||||||||||||||||||||||
Foreign government | Foreign government | 26 | 1 | — | 4 | — | 26 | — | (16) | — | 41 | — | Foreign government | 51 | 5 | — | 136 | (28) | 71 | — | (94) | — | 141 | (6) | ||||||||||||||||||||||||||||||||||||||||||||||
Corporate | Corporate | 399 | (25) | — | 22 | (57) | 160 | 2 | (227) | — | 274 | (16) | Corporate | 375 | 75 | — | 318 | (168) | 475 | — | (252) | — | 823 | (7) | ||||||||||||||||||||||||||||||||||||||||||||||
Marketable equity securities | Marketable equity securities | 92 | (31) | — | 2 | — | 15 | — | (13) | — | 65 | (25) | Marketable equity securities | 73 | 47 | — | 84 | (42) | 35 | — | (50) | — | 147 | 32 | ||||||||||||||||||||||||||||||||||||||||||||||
Asset-backed securities | Asset-backed securities | 1,785 | 14 | — | 167 | (1) | 351 | — | (488) | — | 1,828 | 4 | Asset-backed securities | 1,606 | 248 | — | 35 | (198) | 934 | — | (1,933) | — | 692 | 8 | ||||||||||||||||||||||||||||||||||||||||||||||
Other trading assets | Other trading assets | 797 | (24) | — | 140 | (102) | 66 | 5 | (84) | (4) | 794 | (29) | Other trading assets | 945 | 18 | — | 61 | (129) | 348 | 4 | (688) | (4) | 555 | (5) | ||||||||||||||||||||||||||||||||||||||||||||||
Total trading non-derivative assets | Total trading non-derivative assets | $ | 3,962 | $ | 9 | $ | — | $ | 363 | $ | (177) | $ | 891 | $ | 7 | $ | (1,257) | $ | (4) | $ | 3,794 | $ | (58) | Total trading non-derivative assets | $ | 3,647 | $ | 437 | $ | — | $ | 1,031 | $ | (711) | $ | 2,207 | $ | 4 | $ | (3,625) | $ | (4) | $ | 2,986 | $ | 59 | ||||||||||||||||||||||||
Trading derivatives, net(4) | Trading derivatives, net(4) | Trading derivatives, net(4) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest rate contracts | Interest rate contracts | $ | 1,968 | $ | 70 | $ | — | $ | (17) | $ | (7) | $ | 31 | $ | 78 | $ | (62) | $ | (525) | $ | 1,536 | $ | 50 | Interest rate contracts | $ | 1,614 | $ | (298) | $ | — | $ | 173 | $ | 321 | $ | 2 | $ | (84) | $ | — | $ | 36 | $ | 1,764 | $ | (197) | ||||||||||||||||||||||||
Foreign exchange contracts | Foreign exchange contracts | (26) | 122 | — | (23) | 29 | 3 | — | (6) | (74) | 25 | 47 | Foreign exchange contracts | 52 | (79) | — | 8 | 4 | 134 | — | (297) | (6) | (184) | (57) | ||||||||||||||||||||||||||||||||||||||||||||||
Equity contracts | Equity contracts | (2,235) | (183) | — | (41) | (69) | 1 | — | (12) | (120) | (2,659) | (160) | Equity contracts | (3,213) | 612 | — | (598) | 898 | 109 | — | (117) | (241) | (2,550) | 213 | ||||||||||||||||||||||||||||||||||||||||||||||
Commodity contracts | Commodity contracts | (278) | 172 | — | 48 | (5) | 29 | — | (15) | 24 | (25) | 151 | Commodity contracts | 292 | 550 | — | 10 | (617) | 94 | — | (155) | (32) | 142 | 280 | ||||||||||||||||||||||||||||||||||||||||||||||
Credit derivatives | Credit derivatives | 402 | (271) | — | (33) | 19 | — | — | — | 34 | 151 | (274) | Credit derivatives | 48 | (121) | — | 15 | (71) | — | — | — | 88 | (41) | (198) | ||||||||||||||||||||||||||||||||||||||||||||||
Total trading derivatives, net(4) | Total trading derivatives, net(4) | $ | (169) | $ | (90) | $ | — | $ | (66) | $ | (33) | $ | 64 | $ | 78 | $ | (95) | $ | (661) | $ | (972) | $ | (186) | Total trading derivatives, net(4) | $ | (1,207) | $ | 664 | $ | — | $ | (392) | $ | 535 | $ | 339 | $ | (84) | $ | (569) | $ | (155) | $ | (869) | $ | 41 | ||||||||||||||||||||||||
Investments | Investments | Investments | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Mortgage-backed securities | Mortgage-backed securities | Mortgage-backed securities | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
U.S. government-sponsored agency guaranteed | U.S. government-sponsored agency guaranteed | $ | 30 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 30 | $ | (27) | U.S. government-sponsored agency guaranteed | $ | 30 | $ | — | $ | 2 | $ | 22 | $ | — | $ | 3 | $ | — | $ | (5) | $ | — | $ | 52 | $ | (42) | ||||||||||||||||||||||||
Residential | — | — | — | — | — | — | — | — | — | — | 8 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial | — | — | — | — | — | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total investment mortgage-backed securities | Total investment mortgage-backed securities | $ | 30 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 30 | $ | (19) | Total investment mortgage-backed securities | $ | 30 | $ | — | $ | 2 | $ | 22 | $ | — | $ | 3 | $ | — | $ | (5) | $ | — | $ | 52 | $ | (42) | ||||||||||||||||||||||||
U.S. Treasury and federal agency securities | U.S. Treasury and federal agency securities | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | U.S. Treasury and federal agency securities | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||||||||
State and municipal | State and municipal | 825 | — | (5) | 2 | — | 19 | — | (16) | — | 825 | 25 | State and municipal | 834 | — | (10) | 58 | (108) | 3 | — | (29) | — | 748 | (8) | ||||||||||||||||||||||||||||||||||||||||||||||
Foreign government | Foreign government | 196 | — | 3 | — | — | 66 | — | (76) | — | 189 | — | Foreign government | 268 | — | 1 | 440 | (289) | 645 | — | (108) | — | 957 | 3 | ||||||||||||||||||||||||||||||||||||||||||||||
Corporate | Corporate | 106 | — | — | — | — | — | — | (50) | — | 56 | — | Corporate | 60 | — | (11) | 32 | — | 30 | — | (7) | — | 104 | (1) | ||||||||||||||||||||||||||||||||||||||||||||||
Marketable equity securities | 1 | — | (1) | — | — | — | — | — | — | — | (1) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Asset-backed securities | Asset-backed securities | 6 | — | (4) | — | — | — | — | — | — | 2 | — | Asset-backed securities | 1 | — | (21) | 36 | — | — | — | (13) | — | 3 | (37) | ||||||||||||||||||||||||||||||||||||||||||||||
Other debt securities | — | — | — | — | — | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Non-marketable equity securities | Non-marketable equity securities | 332 | — | 17 | — | (2) | — | 3 | — | — | 350 | 16 | Non-marketable equity securities | 349 | — | 40 | 1 | — | — | — | (8) | — | 382 | 2 | ||||||||||||||||||||||||||||||||||||||||||||||
Total investments | Total investments | $ | 1,496 | $ | — | $ | 10 | $ | 2 | $ | (2) | $ | 85 | $ | 3 | $ | (142) | $ | — | $ | 1,452 | $ | 21 | Total investments | $ | 1,542 | $ | — | $ | 1 | $ | 589 | $ | (397) | $ | 681 | $ | — | $ | (170) | $ | — | $ | 2,246 | $ | (83) |
Net realized/unrealized gains (losses) incl. in(1) | Transfers | Unrealized gains (losses) still held(3) | Net realized/unrealized gains (losses) incl. in(1) | Transfers | Unrealized gains (losses) still held(3) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
In millions of dollars | In millions of dollars | Jun. 30, 2020 | Principal transactions | Other(1)(2) | into Level 3 | out of Level 3 | Purchases | Issuances | Sales | Settlements | Sept. 30, 2020 | In millions of dollars | Dec. 31 2020 | Principal transactions | Other(1)(2) | into Level 3 | out of Level 3 | Purchases | Issuances | Sales | Settlements | Jun. 30, 2021 | ||||||||||||||||||||||||||||||||||||||||||||||||
Loans | Loans | $ | 978 | $ | — | $ | 567 | $ | 138 | $ | — | $ | — | $ | — | $ | — | $ | (2) | $ | 1,681 | $ | 573 | Loans | $ | 1,985 | $ | — | $ | 348 | $ | 271 | $ | (2,051) | $ | — | $ | 1 | $ | — | $ | (125) | $ | 429 | $ | 100 | ||||||||||||||||||||||||
Mortgage servicing rights | Mortgage servicing rights | 345 | — | (22) | — | — | — | 31 | — | (20) | 334 | (14) | Mortgage servicing rights | 336 | — | 52 | — | — | — | 68 | — | (37) | 419 | 59 | ||||||||||||||||||||||||||||||||||||||||||||||
Other financial assets measured on a recurring basis | Other financial assets measured on a recurring basis | — | — | (3) | 19 | — | — | (13) | (3) | — | — | (11) | Other financial assets measured on a recurring basis | — | — | — | 55 | — | — | — | — | — | 55 | — | ||||||||||||||||||||||||||||||||||||||||||||||
Liabilities | Liabilities | Liabilities | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest-bearing deposits | Interest-bearing deposits | $ | 237 | $ | — | $ | 26 | $ | — | $ | — | $ | — | $ | 4 | $ | — | $ | (2) | $ | 213 | $ | 23 | Interest-bearing deposits | $ | 206 | $ | — | $ | 18 | $ | — | $ | (44) | $ | — | $ | 20 | $ | — | $ | (10) | $ | 154 | $ | (45) | ||||||||||||||||||||||||
Securities loaned or sold under agreements to repurchase | 625 | (34) | — | — | — | — | — | — | — | 659 | (126) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Securities loaned and sold under agreements to repurchase | Securities loaned and sold under agreements to repurchase | 631 | 7 | — | — | (483) | 488 | — | — | (141) | 488 | 19 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Trading account liabilities | Trading account liabilities | Trading account liabilities | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Securities sold, not yet purchased | Securities sold, not yet purchased | 104 | 3 | — | 54 | (3) | — | — | — | (11) | 141 | — | Securities sold, not yet purchased | 214 | 61 | — | 62 | (25) | 20 | — | — | (42) | 168 | (2) | ||||||||||||||||||||||||||||||||||||||||||||||
Other trading liabilities | Other trading liabilities | — | (16) | — | 27 | — | — | — | — | — | 43 | (15) | Other trading liabilities | 26 | 25 | — | — | — | — | — | — | — | 1 | — | ||||||||||||||||||||||||||||||||||||||||||||||
Short-term borrowings | Short-term borrowings | 128 | 9 | — | 78 | — | — | 11 | — | (7) | 201 | 13 | Short-term borrowings | 219 | 32 | — | 42 | (44) | — | 25 | — | (169) | 41 | 17 | ||||||||||||||||||||||||||||||||||||||||||||||
Long-term debt | Long-term debt | 21,633 | (267) | — | 1,396 | (27) | — | 1,308 | — | (1,461) | 23,116 | (234) | Long-term debt | 25,210 | 1,773 | — | 4,869 | (5,968) | — | 7,545 | — | (4,815) | 25,068 | 791 | ||||||||||||||||||||||||||||||||||||||||||||||
Other financial liabilities measured on a recurring basis | Other financial liabilities measured on a recurring basis | — | — | — | — | — | — | 2 | — | — | 2 | 3 | Other financial liabilities measured on a recurring basis | 1 | — | (3) | — | (4) | — | 14 | — | (10) | 4 | — |
Net realized/unrealized gains (losses) incl. in(1) | Transfers | Unrealized gains (losses) still held(3) | |||||||||||||||||||||||||||||||||
In millions of dollars | Dec. 31, 2019 | Principal transactions | Other(1)(2) | into Level 3 | out of Level 3 | Purchases | Issuances | Sales | Settlements | Sept. 30, 2020 | |||||||||||||||||||||||||
Assets | |||||||||||||||||||||||||||||||||||
Securities borrowed and purchased under agreements to resell | $ | 303 | $ | 18 | $ | — | $ | — | $ | — | $ | 151 | $ | — | $ | — | $ | (142) | $ | 330 | $ | 4 | |||||||||||||
Trading non-derivative assets | |||||||||||||||||||||||||||||||||||
Trading mortgage-backed securities | |||||||||||||||||||||||||||||||||||
U.S. government-sponsored agency guaranteed | 10 | (65) | — | 21 | (9) | 390 | — | (81) | — | 266 | 14 | ||||||||||||||||||||||||
Residential | 123 | 70 | — | 214 | (60) | 341 | — | (419) | — | 269 | (6) | ||||||||||||||||||||||||
Commercial | 61 | 5 | — | 156 | (17) | 113 | — | (137) | — | 181 | (13) | ||||||||||||||||||||||||
Total trading mortgage-backed securities | $ | 194 | $ | 10 | $ | — | $ | 391 | $ | (86) | $ | 844 | $ | — | $ | (637) | $ | — | $ | 716 | $ | (5) | |||||||||||||
U.S. Treasury and federal agency securities | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||||
State and municipal | 64 | 2 | — | 15 | (3) | 62 | — | (64) | — | 76 | 1 | ||||||||||||||||||||||||
Foreign government | 52 | (27) | — | 6 | (2) | 130 | — | (118) | — | 41 | — | ||||||||||||||||||||||||
Corporate | 313 | 265 | — | 108 | (127) | 579 | 2 | (860) | (6) | 274 | 7 | ||||||||||||||||||||||||
Marketable equity securities | 100 | (22) | — | 40 | (3) | 221 | — | (271) | — | 65 | (33) | ||||||||||||||||||||||||
Asset-backed securities | 1,177 | (88) | — | 663 | (61) | 1,091 | — | (954) | — | 1,828 | (208) | ||||||||||||||||||||||||
Other trading assets | 555 | 196 | — | 321 | (254) | 297 | 19 | (321) | (19) | 794 | (63) | ||||||||||||||||||||||||
Total trading non-derivative assets | $ | 2,455 | $ | 336 | $ | — | $ | 1,544 | $ | (536) | $ | 3,224 | $ | 21 | $ | (3,225) | $ | (25) | $ | 3,794 | $ | (301) | |||||||||||||
Trading derivatives, net(4) | |||||||||||||||||||||||||||||||||||
Interest rate contracts | $ | 1 | $ | 445 | $ | — | $ | 1,597 | $ | (9) | $ | 33 | $ | 134 | $ | (49) | $ | (616) | $ | 1,536 | $ | 365 | |||||||||||||
Foreign exchange contracts | (5) | 70 | — | (56) | 40 | 52 | — | (19) | (57) | 25 | 339 | ||||||||||||||||||||||||
Equity contracts | (1,596) | (747) | — | (432) | 167 | 25 | — | (18) | (58) | (2,659) | (658) | ||||||||||||||||||||||||
Commodity contracts | (59) | (34) | — | 85 | (75) | 95 | — | (59) | 22 | (25) | (34) | ||||||||||||||||||||||||
Credit derivatives | (56) | 308 | — | 138 | (339) | — | — | — | 100 | 151 | 49 | ||||||||||||||||||||||||
Total trading derivatives, net(4) | $ | (1,715) | $ | 42 | $ | — | $ | 1,332 | $ | (216) | $ | 205 | $ | 134 | $ | (145) | $ | (609) | $ | (972) | $ | 61 | |||||||||||||
Investments | |||||||||||||||||||||||||||||||||||
Mortgage-backed securities | |||||||||||||||||||||||||||||||||||
U.S. government-sponsored agency guaranteed | $ | 32 | $ | — | $ | (5) | $ | 1 | $ | 1 | $ | 1 | $ | — | $ | — | $ | — | $ | 30 | $ | (64) | |||||||||||||
Residential | — | — | — | — | — | — | — | — | — | — | 8 | ||||||||||||||||||||||||
Commercial | — | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||
Total investment mortgage-backed securities | $ | 32 | $ | — | $ | (5) | $ | 1 | $ | 1 | $ | 1 | $ | — | $ | — | $ | — | $ | 30 | $ | (56) | |||||||||||||
U.S. Treasury and federal agency securities | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||||
State and municipal | 623 | — | (12) | 312 | (131) | 114 | — | (81) | — | 825 | 50 | ||||||||||||||||||||||||
Foreign government | 96 | — | 8 | 27 | (64) | 274 | — | (152) | — | 189 | — | ||||||||||||||||||||||||
Corporate | 45 | — | 2 | 49 | (152) | 162 | — | (50) | — | 56 | — | ||||||||||||||||||||||||
Marketable equity securities | — | — | (1) | 1 | — | — | — | — | — | — | (1) | ||||||||||||||||||||||||
Asset-backed securities | 22 | — | (1) | — | — | — | — | (19) | — | 2 | 6 | ||||||||||||||||||||||||
Other debt securities | — | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||
Non-marketable equity securities | 441 | — | (36) | — | (2) | 2 | 3 | (3) | (55) | 350 | 24 | ||||||||||||||||||||||||
Total investments | $ | 1,259 | $ | — | $ | (45) | $ | 390 | $ | (348) | $ | 553 | $ | 3 | $ | (305) | $ | (55) | $ | 1,452 | $ | 23 |
Net realized/unrealized gains (losses) incl. in(1) | Transfers | Unrealized gains (losses) still held(3) | |||||||||||||||||||||||||||||||||
In millions of dollars | Dec. 31, 2019 | Principal transactions | Other(1)(2) | into Level 3 | out of Level 3 | Purchases | Issuances | Sales | Settlements | Sept. 30, 2020 | |||||||||||||||||||||||||
Loans | $ | 402 | $ | — | $ | 935 | $ | 355 | $ | (6) | $ | — | $ | — | $ | — | $ | (5) | $ | 1,681 | $ | 1,026 | |||||||||||||
Mortgage servicing rights | 495 | — | (191) | — | — | — | 87 | — | (57) | 334 | (161) | ||||||||||||||||||||||||
Other financial assets measured on a recurring basis | 1 | — | 11 | 19 | — | — | (19) | (8) | (4) | — | 9 | ||||||||||||||||||||||||
Liabilities | |||||||||||||||||||||||||||||||||||
Interest-bearing deposits | $ | 215 | $ | — | $ | 15 | $ | 278 | $ | (151) | $ | — | $ | 34 | $ | — | $ | (148) | $ | 213 | $ | (122) | |||||||||||||
Securities loaned and sold under agreements to repurchase | 757 | (7) | — | — | — | — | — | — | (105) | 659 | (159) | ||||||||||||||||||||||||
Trading account liabilities | |||||||||||||||||||||||||||||||||||
Securities sold, not yet purchased | 48 | (126) | — | 171 | (21) | — | 9 | — | (192) | 141 | (40) | ||||||||||||||||||||||||
Other trading liabilities | — | (16) | — | 27 | — | — | — | — | — | 43 | (15) | ||||||||||||||||||||||||
Short-term borrowings | 13 | 28 | — | 164 | (6) | — | 72 | — | (14) | 201 | 15 | ||||||||||||||||||||||||
Long-term debt | 17,169 | (647) | — | 6,459 | (4,195) | — | 8,096 | — | (5,060) | 23,116 | (487) | ||||||||||||||||||||||||
Other financial liabilities measured on a recurring basis | — | — | — | — | — | — | 4 | — | (2) | 2 | — | ||||||||||||||||||||||||
As of September 30, 2021 | Fair value(1) (in millions) | Methodology | Input | Low(2)(3) | High(2)(3) | Weighted average(4) | ||||||||||||||||||||||||||||||||||
As of June 30, 2022 | As of June 30, 2022 | Fair value(1) (in millions) | Methodology | Input | Low(2)(3) | High(2)(3) | Weighted average(4) | |||||||||||||||||||||||||||||||||
Assets | Assets | Assets | ||||||||||||||||||||||||||||||||||||||
Securities borrowed and purchased under agreements to resell | Securities borrowed and purchased under agreements to resell | $ | 257 | Model-based | Credit spread | 15 bps | Securities borrowed and purchased under agreements to resell | $ | 183 | Model-based | Interest rate | 1.50 | % | 2.80 | % | 2.20 | % | |||||||||||||||||||||||
Interest rate | 0.27 | % | 0.64 | % | 0.46 | % | ||||||||||||||||||||||||||||||||||
Mortgage-backed securities | Mortgage-backed securities | $ | 376 | Yield analysis | Yield | 2.10 | % | 17.85 | % | 5.62 | % | Mortgage-backed securities | $ | 804 | Yield analysis | Yield | 3.50 | % | 22.00 | % | 8.80 | % | ||||||||||||||||||
244 | Price-based | Price | $ | 4.41 | $ | 120.77 | $ | 50.04 | 243 | Price-based | Price | $ | 0.80 | $ | 100.10 | $ | 59.70 | |||||||||||||||||||||||
State and municipal, foreign government, corporate and other debt securities | State and municipal, foreign government, corporate and other debt securities | $ | 2,223 | Price-based | Price | $ | 0.01 | $ | 1,024.98 | $ | 188.92 | State and municipal, foreign government, corporate and other debt securities | $ | 2,483 | Price-based | Price | $ | — | $ | 934.30 | $ | 186.50 | ||||||||||||||||||
904 | Model-based | Equity volatility | — | % | 286.78 | % | 23.08 | % | 499 | Model-based | ||||||||||||||||||||||||||||||
Marketable equity securities(5) | Marketable equity securities(5) | $ | 139 | Price-based | Price | $ | — | $ | 73,000.00 | $ | 6,027.91 | Marketable equity securities(5) | $ | 136 | Price-based | Price | $ | — | $ | 8,922.80 | $ | 52.70 | ||||||||||||||||||
41 | Model-based | Illiquidity discount | 20.00 | % | 21.00 | % | 20.31 | % | ||||||||||||||||||||||||||||||||
25 | Comparables analysis | WAL | 1.99 years | |||||||||||||||||||||||||||||||||||||
Recovery (in millions) | $ | 5,733 | $ | 5,733 | $ | 5,733 | ||||||||||||||||||||||||||||||||||
Revenue multiple | 6.40x | |||||||||||||||||||||||||||||||||||||||
Asset-backed securities | Asset-backed securities | $ | 360 | Price-based | Price | $ | 5.70 | $ | 3,450.00 | $ | 447.00 | Asset-backed securities | $ | 328 | Price-based | Price | $ | 4.10 | $ | 100.00 | $ | 79.60 | ||||||||||||||||||
307 | Yield analysis | Yield | 2.76 | % | 21.13 | % | 7.25 | % | 192 | Yield analysis | Yield | 4.20 | % | 16.00 | % | 7.90 | % | |||||||||||||||||||||||
Non-marketable equities | Non-marketable equities | $ | 166 | Comparables analysis | Illiquidity discount | 10.00 | % | 35.00 | % | 27.40 | % | Non-marketable equities | $ | 148 | Comparables analysis | Illiquidity discount | 15.00 | % | 32.00 | % | 27.60 | % | ||||||||||||||||||
114 | Price-based | PE ratio | 11.20x | 29.60x | 16.62x | 150 | Price-based | PE ratio | 15.20x | 18.00x | 15.90x | |||||||||||||||||||||||||||||
67 | Model-based | Adjustment factor | —x | 0.70x | 0.32x | Revenue multiple | 12.80x | 30.00x | 14.00x | |||||||||||||||||||||||||||||||
Price | $ | 43.43 | $ | 1,684.00 | $ | 1,219.39 | EBITDA multiples | 17.40x | ||||||||||||||||||||||||||||||||
EBITDA multiples | 4.60x | 18.30x | 12.89x | Cost of capital | 17.50 | % | 20.00 | % | 17.60 | % | ||||||||||||||||||||||||||||||
Revenue multiple | 13.00x | 25.10x | 18.54x | Adjustment factor | 0.30x | 0.50x | 0.30x | |||||||||||||||||||||||||||||||||
Derivatives—gross(6) | Derivatives—gross(6) | Derivatives—gross(6) | ||||||||||||||||||||||||||||||||||||||
Interest rate contracts (gross) | Interest rate contracts (gross) | $ | 4,681 | Model-based | IR Normal volatility | 0.05 | % | 0.78 | % | 0.57 | % | Interest rate contracts (gross) | $ | 5,279 | Model-based | IR Normal volatility | 0.30 | % | 1.70 | % | 0.90 | % | ||||||||||||||||||
Inflation volatility | 0.26 | % | 2.71 | % | 1.22 | % | Yield | (0.20) | % | 1.60 | % | 0.50 | % | |||||||||||||||||||||||||||
Foreign exchange contracts (gross) | Foreign exchange contracts (gross) | $ | 1,219 | Model-based | IR Normal volatility | 0.11 | % | 0.59 | % | 0.51 | % | Foreign exchange contracts (gross) | $ | 1,754 | Model-based | IR Basis | (1.20) | % | 5.20 | % | 0.20 | % | ||||||||||||||||||
FX volatility | 0.76 | % | 41.60 | % | 10.25 | % | ||||||||||||||||||||||||||||||||||
Interest rate | 2.43 | % | 8.04 | % | 6.39 | % | IR Normal volatility | 0.40 | % | 1.60 | % | 0.60 | % | |||||||||||||||||||||||||||
Equity contracts (gross)(7) | Equity contracts (gross)(7) | $ | 5,400 | Model-based | Equity volatility | — | % | 286.78 | % | 35.61 | % | Equity contracts (gross)(7) | $ | 4,366 | Model-based | Equity volatility | 0.10 | % | 313.90 | % | 46.70 | % | ||||||||||||||||||
Equity forward | 57.78 | % | 127.80 | % | 89.35 | % | Equity forward | 49.00 | % | 247.10 | % | 97.00 | % | |||||||||||||||||||||||||||
Equity-Equity correlation | (40.00) | % | 99.00 | % | 80.51 | % | Equity-Equity correlation | (6.49) | % | 99.70 | % | 86.80 | % | |||||||||||||||||||||||||||
Equity-FX correlation | (80.10) | % | 80.00 | % | (10.34) | % | Equity-FX correlation | (95.00) | % | 80.00 | % | (17.20) | % | |||||||||||||||||||||||||||
Commodity and other contracts (gross) | Commodity and other contracts (gross) | $ | 1,985 | Model-based | Commodity correlation | (50.82) | % | 91.95 | % | (0.71) | % | Commodity and other contracts (gross) | $ | 4,043 | Model-based | Commodity correlation | (53.00) | % | 93.50 | % | 19.10 | % | ||||||||||||||||||
Commodity volatility | 11.00 | % | 130.00 | % | 25.04 | % | Commodity volatility | 13.00 | % | 107.30 | % | 26.30 | % | |||||||||||||||||||||||||||
Forward price | 37.49 | % | 619.33 | % | 99.31 | % | Forward price | 12.45 | % | 381.82 | % | 86.52 | % | |||||||||||||||||||||||||||
Credit derivatives (gross) | Credit derivatives (gross) | $ | 1,111 | Model-based | Credit spread | 5 bps | 625 bps | 66 bps | Credit derivatives (gross) | $ | 2,396 | Model-based | Credit spread | 16 bps | 601 bps | 123 bps | ||||||||||||||||||||||||
458 | Price-based | Recovery rate | 25.00 | % | 75.00 | % | 42.25 | % | 434 | Price-based | Recovery rate | 5.00 | % | 75.00 | % | 37.00 | % | |||||||||||||||||||||||
Upfront points | 4.54 | % | 99.97 | % | 59.38 | % | Upfront points | — | % | 99.00 | % | 43.90 | % | |||||||||||||||||||||||||||
Credit correlation | 25.00 | % | 80.00 | % | 52.25 | % | Credit correlation | 15.00 | % | 85.00 | % | 43.60 | % | |||||||||||||||||||||||||||
Price | $ | 40.00 | $ | 102.88 | $ | 79.01 | Credit spread volatility | 23.40 | % | 79.20 | % | 47.00 | % | |||||||||||||||||||||||||||
Nontrading derivatives and other financial assets and liabilities measured on a recurring basis (gross) | Nontrading derivatives and other financial assets and liabilities measured on a recurring basis (gross) | $ | 57 | Price-based | Price | $ | 84.35 | $ | 785.00 | $ | 181.80 | |||||||||||||||||||||||||||||
Loans and leases | Loans and leases | $ | 309 | Model-based | Equity volatility | 60.88 | % | 99.02 | % | 94.64 | % | |||||||||||||||||||||||||||||
Forward price | 12.45 | % | 369.11 | % | 83.72 | % | ||||||||||||||||||||||||||||||||||
Commodity volatility | 13.04 | % | 107.31 | % | 26.33 | % | ||||||||||||||||||||||||||||||||||
Commodity correlation | (53.02) | % | 93.52 | % | 19.08 | % |
As of September 30, 2021 | Fair value(1) (in millions) | Methodology | Input | Low(2)(3) | High(2)(3) | Weighted average(4) | ||||||||||||||||||||||||||||||||||
Nontrading derivatives and other financial assets and liabilities measured on a recurring basis (gross) | $ | 87 | Price-based | Price | $ | 5.63 | $ | 252.23 | $ | 152.32 | ||||||||||||||||||||||||||||||
Loans and leases | $ | 656 | Model-based | Equity volatility | 23.42 | % | 63.96 | % | 36.98 | % | ||||||||||||||||||||||||||||||
As of June 30, 2022 | As of June 30, 2022 | Fair value(1) (in millions) | Methodology | Input | Low(2)(3) | High(2)(3) | Weighted average(4) | |||||||||||||||||||||||||||||||||
Mortgage servicing rights | Mortgage servicing rights | $ | 333 | Cash flow | Yield | 2.00 | % | 14.00 | % | 6.70 | % | Mortgage servicing rights | $ | 529 | Cash flow | Yield | — | % | 12.90 | % | 5.30 | % | ||||||||||||||||||
76 | Model-based | WAL | 3.26 years | 6.68 years | 5.68 years | 71 | Model-based | WAL | 4 years | 9.7 years | 7.70 years | |||||||||||||||||||||||||||||
Liabilities | Liabilities | Liabilities | ||||||||||||||||||||||||||||||||||||||
Interest-bearing deposits | Interest-bearing deposits | $ | 149 | Model-based | IR Normal volatility | 0.14 | % | 0.78 | % | 0.62 | % | Interest-bearing deposits | $ | 18 | Model-based | IR Normal volatility | 0.30 | % | 0.90 | % | 0.50 | % | ||||||||||||||||||
Forward price | 100.00 | % | 100.00 | % | 100.00 | % | ||||||||||||||||||||||||||||||||||
Securities loaned and sold under agreements to repurchase | Securities loaned and sold under agreements to repurchase | $ | 656 | Model-based | Interest rate | 0.13 | % | 2.34 | % | 1.62 | % | Securities loaned and sold under agreements to repurchase | $ | 593 | Model-based | Interest rate | 1.80 | % | 3.70 | % | 3.10 | % | ||||||||||||||||||
Trading account liabilities | Trading account liabilities | Trading account liabilities | ||||||||||||||||||||||||||||||||||||||
Securities sold, not yet purchased and other trading liabilities | Securities sold, not yet purchased and other trading liabilities | $ | 81 | Price-based | Price | $ | — | $ | 12,100.00 | $ | 1,378.00 | Securities sold, not yet purchased and other trading liabilities | $ | 46 | Price-based | Price | $ | — | $ | 12,100 | $ | 2,133 | ||||||||||||||||||
24 | Yield analysis | Yield | 3.40 | % | 4.60 | % | 4.00 | % | ||||||||||||||||||||||||||||||||
Upfront points | 4.00 | % | 4.00 | % | 4.00 | % | ||||||||||||||||||||||||||||||||||
Short-term borrowings and long-term debt | Short-term borrowings and long-term debt | $ | 25,792 | Model-based | IR Normal volatility | 0.11 | % | 0.78 | % | 0.56 | % | Short-term borrowings and long-term debt | $ | 28,623 | Model-based | IR Normal volatility | 0.30 | % | 1.70 | % | 0.80 | % | ||||||||||||||||||
Equity volatility | — | % | 286.78 | % | 23.17 | % | Equity volatility | 0.10 | % | 313.90 | % | 52.60 | % | |||||||||||||||||||||||||||
Equity-IR correlation | (13.00) | % | 60.00 | % | 29.19 | % | Equity forward | 49.00 | % | 247.10 | % | 96.90 | % | |||||||||||||||||||||||||||
Equity-FX correlation | (80.10) | % | 80.00 | % | (10.34) | % | ||||||||||||||||||||||||||||||||||
FX volatility | — | % | 32.57 | % | 9.68 | % |
As of December 31, 2020 | Fair value(1) (in millions) | Methodology | Input | Low(2)(3) | High(2)(3) | Weighted average(4) | ||||||||||||||||||||||||||||||||||
As of December 31, 2021 | As of December 31, 2021 | Fair value(1) (in millions) | Methodology | Input | Low(2)(3) | High(2)(3) | Weighted average(4) | |||||||||||||||||||||||||||||||||
Assets | Assets | Assets | ||||||||||||||||||||||||||||||||||||||
Securities borrowed and purchased under agreements to resell | Securities borrowed and purchased under agreements to resell | $ | 320 | Model-based | Credit spread | 15 bps | Securities borrowed and purchased under agreements to resell | $ | 231 | Model-based | Credit spread | 15 bps | ||||||||||||||||||||||||||||
Interest rate | 0.30 | % | 0.35 | % | 0.32 | % | Interest rate | 0.26 | % | 0.72 | % | 0.50 | % | |||||||||||||||||||||||||||
Mortgage-backed securities | Mortgage-backed securities | $ | 344 | Price-based | Price | $ | 30 | $ | 111 | $ | 80 | Mortgage-backed securities | $ | 279 | Price-based | Price | $ | 4 | $ | 118 | $ | 79 | ||||||||||||||||||
168 | Yield analysis | Yield | 2.63 | % | 21.80 | % | 10.13 | % | 526 | Yield analysis | Yield | 1.43 | % | 23.79 | % | 7.25 | % | |||||||||||||||||||||||
State and municipal, foreign government, corporate and other debt securities | State and municipal, foreign government, corporate and other debt securities | $ | 1,566 | Price-based | Price | $ | — | $ | 2,265 | $ | 90 | State and municipal, foreign government, corporate and other debt securities | $ | 2,264 | Price-based | Price | $ | — | $ | 995 | $ | 193 | ||||||||||||||||||
852 | Model-based | Credit spread | 35 bps | 375 bps | 226 bps | 415 | Model-based | Equity volatility | 0.08 | % | 290.64 | % | 53.94 | % | ||||||||||||||||||||||||||
Marketable equity securities(5) | Marketable equity securities(5) | $ | 36 | Model-based | Price | $ | — | $ | 31,000 | $ | 5,132 | Marketable equity securities(5) | $ | 128 | Price-based | Price | $ | — | $ | 73,000 | $ | 6,477 | ||||||||||||||||||
36 | Price-based | WAL | 1.48 years | 43 | Model-based | WAL | 1.73 years | |||||||||||||||||||||||||||||||||
Recovery (in millions) | $ | 5,733 | $ | 5,733 | $ | 5,733 | Recovery (in millions) | $ | 7,148 | $ | 7,148 | $ | 7,148 | |||||||||||||||||||||||||||
Asset-backed securities | Asset-backed securities | $ | 863 | Price-based | Price | $ | 2 | $ | 157 | $ | 59 | Asset-backed securities | $ | 386 | Price-based | Price | $ | 5 | $ | 754 | $ | 87 | ||||||||||||||||||
744 | Yield analysis | Yield | 3.77 | % | 21.77 | % | 9.01 | % | 208 | Yield analysis | Yield | 2.43 | % | 19.35 | % | 8.18 | % | |||||||||||||||||||||||
Non-marketable equities | Non-marketable equities | $ | 205 | Comparables analysis | Illiquidity discount | 10.00 | % | 45.00 | % | 25.29 | % | Non-marketable equities | $ | 121 | Price-based | Illiquidity discount | 10.00 | % | 36.00 | % | 26.43 | % | ||||||||||||||||||
PE ratio | 13.60x | 28.00x | 22.83x | 112 | Comparables analysis | PE ratio | 11.00x | 29.00x | 15.42x | |||||||||||||||||||||||||||||||
142 | Price-based | Price | $ | 136 | $ | 2,041 | $ | 1,647 | 83 | Model-based | Price | $ | 3 | $ | 2,601 | $ | 2,029 | |||||||||||||||||||||||
EBITDA multiples | 3.30x | 36.70x | 15.10x | Adjustment factor | 0.33x | 0.44x | 0.34x | |||||||||||||||||||||||||||||||||
Adjustment factor | 0.20x | 0.61x | 0.25x | Revenue multiple | 19.80x | 30.00x | 20.48x | |||||||||||||||||||||||||||||||||
Appraised value (in thousands) | $ | 287 | $ | 39,745 | $ | 21,754 | Cost of capital | 17.50 | % | 20.00 | % | 17.57 | % | |||||||||||||||||||||||||||
Revenue multiple | 2.70x | 28.00x | 8.92x | |||||||||||||||||||||||||||||||||||||
Derivatives—gross(6) | Derivatives—gross(6) | Derivatives—gross(6) | ||||||||||||||||||||||||||||||||||||||
Interest rate contracts (gross) | Interest rate contracts (gross) | $ | 5,143 | Model-based | Inflation volatility | 0.27 | % | 2.36 | % | 0.78 | % | Interest rate contracts (gross) | $ | 6,054 | Model-based | IR normal volatility | 0.24 | % | 0.94 | % | 0.70 | % | ||||||||||||||||||
IR normal volatility | 0.11 | % | 0.73 | % | 0.52 | % | ||||||||||||||||||||||||||||||||||
Foreign exchange contracts (gross) | Foreign exchange contracts (gross) | $ | 1,296 | Model-based | FX volatility | 1.70 | % | 12.63 | % | 5.41 | % | Foreign exchange contracts (gross) | $ | 1,364 | Model-based | IR Normal volatility | 0.24 | % | 0.74 | % | 0.58 | % | ||||||||||||||||||
Contingent event | 100.00 | % | 100.00 | % | 100.00 | % | FX volatility | 2.13 | % | 107.42 | % | 11.21 | % | |||||||||||||||||||||||||||
Credit spread | 140 bps | 696 bps | 639 bps | |||||||||||||||||||||||||||||||||||||
Equity contracts (gross)(7) | Equity contracts (gross)(7) | $ | 4,690 | Model-based | Equity volatility | 0.08 | % | 290.64 | % | 47.67 | % | |||||||||||||||||||||||||||||
Equity forward | 57.99 | % | 165.83 | % | 89.45 | % | ||||||||||||||||||||||||||||||||||
Equity-FX correlation | (95.00) | % | 80.00 | % | (16.00) | % | ||||||||||||||||||||||||||||||||||
Equity-Equity correlation | (6.49) | % | 99.00 | % | 85.61 | % |
As of December 31, 2020 | Fair value(1) (in millions) | Methodology | Input | Low(2)(3) | High(2)(3) | Weighted average(4) | ||||||||||||||||||||||||||||||||||
Interest rate | 0.84 | % | 84.09 | % | 17.55 | % | ||||||||||||||||||||||||||||||||||
IR normal volatility | 0.11 | % | 0.52 | % | 0.46 | % | ||||||||||||||||||||||||||||||||||
IR-FX correlation | 40.00 | % | 60.00 | % | 50.00 | % | ||||||||||||||||||||||||||||||||||
IR-IR correlation | (21.71) | % | 40.00 | % | 38.09 | % | ||||||||||||||||||||||||||||||||||
Equity contracts (gross)(7) | $ | 7,330 | Model-based | Equity volatility | 5.00 | % | 91.43 | % | 42.74 | % | ||||||||||||||||||||||||||||||
Forward price | 65.88 | % | 105.20 | % | 91.82 | % | ||||||||||||||||||||||||||||||||||
Commodity and other contracts (gross) | Commodity and other contracts (gross) | $ | 1,636 | Model-based | Commodity correlation | (44.92) | % | 95.91 | % | 70.60 | % | Commodity and other contracts (gross) | $ | 3,172 | Model-based | Forward price | 8.00 | % | 599.44 | % | 123.22 | % | ||||||||||||||||||
Commodity volatility | 0.16 | % | 80.17 | % | 23.72 | % | Commodity volatility | 10.87 | % | 188.30 | % | 26.85 | % | |||||||||||||||||||||||||||
Forward price | 15.40 | % | 262.00 | % | 98.53 | % | Commodity correlation | (50.52) | % | 89.83 | % | (7.11) | % | |||||||||||||||||||||||||||
Credit derivatives (gross) | Credit derivatives (gross) | $ | 1,854 | Model-based | Credit spread | 3.50 bps | 352.35 bps | 99.89 bps | Credit derivatives (gross) | $ | 1,480 | Model-based | Credit spread | 1.00 bps | 874.72 bps | 68.83 bps | ||||||||||||||||||||||||
408 | Price-based | Recovery rate | 20.00 | % | 60.00 | % | 41.60 | % | 427 | Price-based | Recovery rate | 20.00 | % | 75.00 | % | 44.72 | % | |||||||||||||||||||||||
Credit correlation | 25.00 | % | 80.00 | % | 43.36 | % | Upfront points | 2.74 | % | 99.96 | % | 59.37 | % | |||||||||||||||||||||||||||
Upfront points | — | % | 107.20 | % | 48.10 | % | Price | $ | 40 | $ | 103 | $ | 80 | |||||||||||||||||||||||||||
Credit correlation | 30.00 | % | 80.00 | % | 54.57 | % | ||||||||||||||||||||||||||||||||||
Non-trading derivatives and other financial assets and liabilities measured on a recurring basis (gross) | Non-trading derivatives and other financial assets and liabilities measured on a recurring basis (gross) | $ | 69 | Price-based | Price | $ | 94 | $ | 2,598 | $ | 591 | |||||||||||||||||||||||||||||
Loans and leases | Loans and leases | $ | 1,804 | Model-based | Equity volatility | 24.65 | % | 83.09 | % | 58.23 | % | Loans and leases | $ | 691 | Model-based | Equity volatility | 22.48 | % | 85.44 | % | 50.56 | % | ||||||||||||||||||
Forward price | 26.95 | % | 333.08 | % | 106.97 | % | ||||||||||||||||||||||||||||||||||
Commodity volatility | 10.87 | % | 188.30 | % | 26.85 | % | ||||||||||||||||||||||||||||||||||
Commodity correlation | (50.52) | % | 89.83 | % | (7.11) | % | ||||||||||||||||||||||||||||||||||
Mortgage servicing rights | Mortgage servicing rights | $ | 258 | Cash flow | Yield | 2.86 | % | 16.00 | % | 6.32 | % | Mortgage servicing rights | $ | 331 | Cash flow | Yield | (1.20) | % | 12.10 | % | 4.51 | % | ||||||||||||||||||
78 | Model-based | WAL | 2.66 years | 5.40 years | 4.46 years | 73 | Model-based | WAL | 2.75 years | 5.86 years | 5.14 years | |||||||||||||||||||||||||||||
Liabilities | Liabilities | Liabilities | ||||||||||||||||||||||||||||||||||||||
Interest-bearing deposits | Interest-bearing deposits | $ | 206 | Model-based | IR Normal volatility | 0.11 | % | 0.73 | % | 0.54 | % | Interest-bearing deposits | $ | 183 | Model-based | IR Normal volatility | 0.34 | % | 0.88 | % | 0.68 | % | ||||||||||||||||||
Equity volatility | 0.08 | % | 290.64 | % | 54.05 | % | ||||||||||||||||||||||||||||||||||
Equity forward | 57.99 | % | 165.83 | % | 89.39 | % | ||||||||||||||||||||||||||||||||||
Securities loaned and sold under agreements to repurchase | Securities loaned and sold under agreements to repurchase | $ | 631 | Model-based | Interest rate | 0.08 | % | 1.86 | % | 0.71 | % | Securities loaned and sold under agreements to repurchase | $ | 643 | Model-based | Interest rate | 0.12 | % | 1.95 | % | 1.47 | % | ||||||||||||||||||
Trading account liabilities | Trading account liabilities | Trading account liabilities | ||||||||||||||||||||||||||||||||||||||
Securities sold, not yet purchased | $ | 178 | Model-based | IR lognormal volatility | 52.06 | % | 128.87 | % | 89.82 | % | ||||||||||||||||||||||||||||||
Securities sold, not yet purchased and other trading liabilities | Securities sold, not yet purchased and other trading liabilities | $ | 63 | Price-based | Price | $ | — | $ | 12,875 | $ | 1,707 | |||||||||||||||||||||||||||||
Short-term borrowings and long-term debt | Short-term borrowings and long-term debt | $ | 25,514 | Model-based | IR Normal volatility | 0.07 | % | 0.88 | % | 0.60 | % | |||||||||||||||||||||||||||||
62 | Price-based | Price | $ | — | $ | 866 | $ | 80 | Equity volatility | 0.08 | % | 290.64 | % | 53.21 | % | |||||||||||||||||||||||||
Interest rate | 10.03 | % | 20.07 | % | 13.70 | % | Equity-IR correlation | (3.53) | % | 60.00 | % | 32.12 | % | |||||||||||||||||||||||||||
Equity-FX correlation | (95.00) | % | 80.00 | % | (15.98) | % | ||||||||||||||||||||||||||||||||||
FX volatility | 0.06 | % | 41.76 | % | 9.38 | % | ||||||||||||||||||||||||||||||||||
Short-term borrowings and long-term debt | $ | 24,827 | Model-based | IR Normal volatility | 0.11 | % | 0.73 | % | 0.51 | % | ||||||||||||||||||||||||||||||
Forward price | 15.40 | % | 262.00 | % | 92.48 | % |
In millions of dollars | In millions of dollars | Fair value | Level 2 | Level 3 | In millions of dollars | Fair value | Level 2 | Level 3 | ||||||||||||||
September 30, 2021 | ||||||||||||||||||||||
June 30, 2022 | June 30, 2022 | |||||||||||||||||||||
Loans HFS(1) | Loans HFS(1) | $ | 876 | $ | 368 | $ | 508 | Loans HFS(1) | $ | 2,431 | $ | 1,199 | $ | 1,232 | ||||||||
Other real estate owned | Other real estate owned | 5 | — | 5 | Other real estate owned | 3 | — | 3 | ||||||||||||||
Loans(2) | Loans(2) | 224 | — | 224 | Loans(2) | 133 | — | 133 | ||||||||||||||
Non-marketable equity securities measured using the measurement alternative | Non-marketable equity securities measured using the measurement alternative | 233 | 44 | 189 | Non-marketable equity securities measured using the measurement alternative | 153 | — | 153 | ||||||||||||||
Total assets at fair value on a nonrecurring basis | Total assets at fair value on a nonrecurring basis | $ | 1,338 | $ | 412 | $ | 926 | Total assets at fair value on a nonrecurring basis | $ | 2,720 | $ | 1,199 | $ | 1,521 |
In millions of dollars | In millions of dollars | Fair value | Level 2 | Level 3 | In millions of dollars | Fair value | Level 2 | Level 3 | ||||||||||||||
December 31, 2020 | ||||||||||||||||||||||
December 31, 2021 | December 31, 2021 | |||||||||||||||||||||
Loans HFS(1) | Loans HFS(1) | $ | 3,375 | $ | 478 | $ | 2,897 | Loans HFS(1) | $ | 2,298 | $ | 986 | $ | 1,312 | ||||||||
Other real estate owned | Other real estate owned | 17 | 4 | 13 | Other real estate owned | 11 | — | 11 | ||||||||||||||
Loans(2) | Loans(2) | 1,015 | 679 | 336 | Loans(2) | 144 | — | 144 | ||||||||||||||
Non-marketable equity securities measured using the measurement alternative | Non-marketable equity securities measured using the measurement alternative | 315 | 312 | 3 | Non-marketable equity securities measured using the measurement alternative | 655 | 104 | 551 | ||||||||||||||
Total assets at fair value on a nonrecurring basis | Total assets at fair value on a nonrecurring basis | $ | 4,722 | $ | 1,473 | $ | 3,249 | Total assets at fair value on a nonrecurring basis | $ | 3,108 | $ | 1,090 | $ | 2,018 |
As of September 30, 2021 | Fair value(1) (in millions) | Methodology | Input | Low(2) | High | Weighted average(3) | ||||||||||||||||||||||||||||||||||
As of June 30, 2022 | As of June 30, 2022 | Fair value(1) (in millions) | Methodology | Input | Low(2) | High | Weighted average(3) | |||||||||||||||||||||||||||||||||
Loans held-for-sale | Loans held-for-sale | $ | 508 | Price-based | Price | $ | 90.00 | $ | 100.00 | $ | 98.37 | Loans held-for-sale | $ | 1,232 | Price-based | Price | $ | 84.00 | $ | 100.00 | $ | 95.40 | ||||||||||||||||||
Other real estate owned | Other real estate owned | $ | 5 | Recovery analysis | Appraised value(4) | $ | 27,000 | $ | 3,400,000 | $ | 712,192 | Other real estate owned | $ | 1 | Price-based | Appraised value(4) | $ | 38,899 | $ | 991,478 | $ | 775,330 | ||||||||||||||||||
1 | Recovery analysis | |||||||||||||||||||||||||||||||||||||||
Loans (5) | Loans (5) | $ | 192 | Price-based | Appraised value(4) | $ | 91 | $ | 3,900,000 | $ | 253,297 | Loans(5) | $ | 133 | Recovery analysis | Appraised value(4) | $ | 10,000 | $ | 3,900,000 | $ | 243,283 | ||||||||||||||||||
Non-marketable equity securities measured using the measurement alternative | Non-marketable equity securities measured using the measurement alternative | $ | 135 | Price-based | Price | $ | 3.35 | $ | 2,416.43 | $ | 1,359.84 | |||||||||||||||||||||||||||||
32 | Recovery analysis | Price | 2.70 | 70.00 | 32.14 | 18 | Comparable analysis | Revenue multiple | 11.30x | |||||||||||||||||||||||||||||||
Non-marketable equity securities measured using the measurement alternative | $ | 189 | Price-based | Price | $ | 8.48 | $ | 1,951.67 | $ | 580.68 |
As of December 31, 2020 | Fair value(1) (in millions) | Methodology | Input | Low(2) | High | Weighted average(3) | ||||||||||||||
Loans held-for-sale | $ | 2,683 | Price-based | Price | $ | 79 | $ | 100 | $ | 98 | ||||||||||
Other real estate owned | $ | 7 | Price-based | Appraised value(4) | $ | 3,110,711 | $ | 4,241,357 | $ | 3,586,975 | ||||||||||
4 | Recovery analysis | Price | 51 | 51 | 51 | |||||||||||||||
Loans(5) | $ | 147 | Price-based | Price | $ | 2 | $ | 49 | $ | 23 | ||||||||||
73 | Recovery analysis | Recovery rate | 0.99 | % | 78.00 | % | 13.37 | % | ||||||||||||
Appraised value(4) | $ | 34 | $ | 43,646,426 | $ | 17,762,950 | ||||||||||||||
As of December 31, 2021 | Fair value(1) (in millions) | Methodology | Input | Low(2) | High | Weighted average(3) | ||||||||||||||
Loans HFS | $ | 1,312 | Price-based | Price | $ | 89 | $ | 100 | $ | 99 | ||||||||||
Other real estate owned | $ | 4 | Price-based | Appraised value(4) | $ | 14,000 | $ | 2,392,464 | $ | 1,660,120 | ||||||||||
5 | Recovery analysis | |||||||||||||||||||
Loans(5) | $ | 120 | Recovery analysis | Appraised value(4) | $ | 10,000 | $ | 3,900,000 | $ | 247,018 | ||||||||||
24 | Price-based | Price | 3 | 75 | 35 | |||||||||||||||
Recovery rate | 84.00 | % | 100.00 | % | 84.00 | % | ||||||||||||||
Non-marketable equity securities measured using the measurement alternative | $ | 551 | Price-based | Price | $ | 6 | $ | 1,339 | $ | 52 | ||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||
In millions of dollars | 2021 | 2020 | 2021 | 2020 | ||||||||||
Loans HFS | $ | (13) | $ | (26) | $ | (22) | $ | (133) | ||||||
Other real estate owned | — | — | — | (1) | ||||||||||
Loans(1) | (10) | (31) | 33 | (131) | ||||||||||
Non-marketable equity securities measured using the measurement alternative | 72 | 37 | 363 | 8 | ||||||||||
Total nonrecurring fair value gains (losses) | $ | 49 | $ | (20) | $ | 374 | $ | (257) |
Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||
In millions of dollars | 2022 | 2021 | 2022 | 2021 | ||||||||||
Loans HFS | $ | (86) | $ | (15) | $ | (223) | $ | (17) | ||||||
Other real estate owned | — | — | — | — | ||||||||||
Loans(1) | 4 | 49 | 9 | 60 | ||||||||||
Non-marketable equity securities measured using the measurement alternative | 43 | 211 | 128 | 291 | ||||||||||
Total nonrecurring fair value gains (losses) | $ | (39) | $ | 245 | $ | (86) | $ | 334 |
September 30, 2021 | Estimated fair value | June 30, 2022 | Estimated fair value | |||||||||||||||||||||||||||||||
Carrying value | Estimated fair value | Carrying value | Estimated fair value | |||||||||||||||||||||||||||||||
In billions of dollars | In billions of dollars | Level 1 | Level 2 | Level 3 | In billions of dollars | Level 1 | Level 2 | Level 3 | ||||||||||||||||||||||||||
Assets | Assets | Assets | ||||||||||||||||||||||||||||||||
Investments, net of allowance | Investments, net of allowance | $ | 203.0 | $ | 203.7 | $ | 89.1 | $ | 111.6 | $ | 3.0 | Investments, net of allowance | $ | 272.7 | $ | 255.0 | $ | 126.7 | $ | 124.9 | $ | 3.4 | ||||||||||||
Securities borrowed and purchased under agreements to resell | Securities borrowed and purchased under agreements to resell | 125.5 | 125.5 | — | 121.8 | 3.7 | Securities borrowed and purchased under agreements to resell | 118.6 | 118.6 | — | 118.6 | — | ||||||||||||||||||||||
Loans(1)(2) | Loans(1)(2) | 639.4 | 654.2 | — | — | 654.2 | Loans(1)(2) | 636.7 | 641.0 | — | — | 641.0 | ||||||||||||||||||||||
Other financial assets(2)(3) | Other financial assets(2)(3) | 421.0 | 421.0 | 302.5 | 21.3 | 97.2 | Other financial assets(2)(3) | 398.8 | 398.8 | 266.6 | 17.5 | 114.7 | ||||||||||||||||||||||
Liabilities | Liabilities | Liabilities | ||||||||||||||||||||||||||||||||
Deposits | Deposits | $ | 1,344.8 | $ | 1,345.5 | $ | — | $ | 1,178.0 | $ | 167.5 | Deposits | $ | 1,319.5 | $ | 1,318.2 | $ | — | $ | 1,175.0 | $ | 143.2 | ||||||||||||
Securities loaned and sold under agreements to repurchase | Securities loaned and sold under agreements to repurchase | 133.9 | 133.9 | — | 133.6 | 0.3 | Securities loaned and sold under agreements to repurchase | 133.9 | 133.9 | — | 133.9 | — | ||||||||||||||||||||||
Long-term debt(4) | Long-term debt(4) | 180.1 | 194.0 | — | 179.8 | 14.2 | Long-term debt(4) | 168.0 | 165.5 | — | 161.4 | 4.1 | ||||||||||||||||||||||
Other financial liabilities(5) | Other financial liabilities(5) | 115.4 | 115.4 | — | 18.0 | 97.4 | Other financial liabilities(5) | 159.0 | 159.0 | — | 22.4 | 136.6 |
December 31, 2020 | Estimated fair value | December 31, 2021 | Estimated fair value | |||||||||||||||||||||||||||||||
Carrying value | Estimated fair value | Carrying value | Estimated fair value | |||||||||||||||||||||||||||||||
In billions of dollars | In billions of dollars | Level 1 | Level 2 | Level 3 | In billions of dollars | Level 1 | Level 2 | Level 3 | ||||||||||||||||||||||||||
Assets | Assets | Assets | ||||||||||||||||||||||||||||||||
Investments, net of allowance | Investments, net of allowance | $ | 110.3 | $ | 113.2 | $ | 23.3 | $ | 87.0 | $ | 2.9 | Investments, net of allowance | $ | 221.9 | $ | 221.0 | $ | 111.8 | $ | 106.4 | $ | 2.8 | ||||||||||||
Securities borrowed and purchased under agreements to resell | Securities borrowed and purchased under agreements to resell | 109.5 | 109.5 | — | 109.5 | — | Securities borrowed and purchased under agreements to resell | 110.8 | 110.8 | — | 106.4 | 4.4 | ||||||||||||||||||||||
Loans(1)(2) | Loans(1)(2) | 643.3 | 663.9 | — | 0.6 | 663.3 | Loans(1)(2) | 644.8 | 659.6 | — | — | 659.6 | ||||||||||||||||||||||
Other financial assets(2)(3) | Other financial assets(2)(3) | 383.2 | 383.2 | 291.5 | 18.1 | 73.6 | Other financial assets(2)(3) | 351.9 | 351.9 | 242.1 | 19.9 | 89.9 | ||||||||||||||||||||||
Liabilities | Liabilities | Liabilities | ||||||||||||||||||||||||||||||||
Deposits | Deposits | $ | 1,278.7 | $ | 1,278.8 | $ | — | $ | 1,093.3 | $ | 185.5 | Deposits | $ | 1,315.6 | $ | 1,316.2 | $ | — | $ | 1,153.9 | $ | 162.3 | ||||||||||||
Securities loaned and sold under agreements to repurchase | Securities loaned and sold under agreements to repurchase | 139.3 | 139.3 | — | 139.3 | — | Securities loaned and sold under agreements to repurchase | 134.6 | 134.6 | — | 134.5 | 0.1 | ||||||||||||||||||||||
Long-term debt(4) | Long-term debt(4) | 204.6 | 221.2 | — | 197.8 | 23.4 | Long-term debt(4) | 171.8 | 184.6 | — | 171.9 | 12.7 | ||||||||||||||||||||||
Other financial liabilities(5) | Other financial liabilities(5) | 102.4 | 102.4 | — | 19.2 | 83.2 | Other financial liabilities(5) | 111.1 | 111.1 | — | 17.0 | 94.1 |
Changes in fair value—gains (losses) | ||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||
In millions of dollars | 2021 | 2020 | 2021 | 2020 | ||||||||||
Assets | ||||||||||||||
Securities borrowed and purchased under agreements to resell | $ | (28) | $ | (27) | $ | (64) | $ | 17 | ||||||
Trading account assets | (2) | 183 | 151 | (278) | ||||||||||
Loans | ||||||||||||||
Certain corporate loans | (292) | 1,003 | 376 | 973 | ||||||||||
Certain consumer loans | — | — | — | — | ||||||||||
Total loans | $ | (292) | $ | 1,003 | $ | 376 | $ | 973 | ||||||
Other assets | ||||||||||||||
MSRs | $ | (3) | $ | (22) | $ | 49 | $ | (191) | ||||||
Certain mortgage loans HFS(1) | 25 | 74 | 69 | 208 | ||||||||||
Total other assets | $ | 22 | $ | 52 | $ | 118 | $ | 17 | ||||||
Total assets | $ | (300) | $ | 1,211 | $ | 581 | $ | 729 | ||||||
Liabilities | ||||||||||||||
Interest-bearing deposits | $ | 54 | $ | (53) | $ | (39) | $ | (105) | ||||||
Securities loaned and sold under agreements to repurchase | 19 | 482 | 37 | 390 | ||||||||||
Trading account liabilities | 5 | 16 | 15 | (1) | ||||||||||
Short-term borrowings(2) | 140 | (60) | 332 | 937 | ||||||||||
Long-term debt(2) | 975 | (1,098) | 542 | 865 | ||||||||||
Total liabilities | $ | 1,193 | $ | (713) | $ | 887 | $ | 2,086 |
Changes in fair value—gains (losses) | ||||||||||||||
Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||
In millions of dollars | 2022 | 2021 | 2022 | 2021 | ||||||||||
Assets | ||||||||||||||
Securities borrowed and purchased under agreements to resell | $ | (21) | $ | (8) | $ | (83) | $ | (36) | ||||||
Trading account assets | (177) | 52 | (238) | 153 | ||||||||||
Loans | ||||||||||||||
Certain corporate loans | (1,523) | 539 | (1,855) | 668 | ||||||||||
Consumer loans | — | — | (1) | — | ||||||||||
Total loans | $ | (1,523) | $ | 539 | $ | (1,856) | $ | 668 | ||||||
Other assets | ||||||||||||||
MSRs | $ | 60 | $ | (21) | $ | 158 | $ | 52 | ||||||
Certain mortgage loans HFS(1) | (144) | 47 | (330) | 44 | ||||||||||
Total other assets | $ | (84) | $ | 26 | $ | (172) | $ | 96 | ||||||
Total assets | $ | (1,805) | $ | 609 | $ | (2,349) | $ | 881 | ||||||
Liabilities | ||||||||||||||
Interest-bearing deposits | $ | (168) | $ | (130) | $ | (123) | $ | (93) | ||||||
Securities loaned and sold under agreements to repurchase | 19 | 5 | 96 | 18 | ||||||||||
Trading account liabilities | 191 | 8 | (449) | 10 | ||||||||||
Short-term borrowings(2) | 1,064 | 327 | 1,196 | 192 | ||||||||||
Long-term debt(2) | 9,642 | (2,441) | 15,713 | (433) | ||||||||||
Total liabilities | $ | 10,748 | $ | (2,231) | $ | 16,433 | $ | (306) |
September 30, 2021 | December 31, 2020 | June 30, 2022 | December 31, 2021 | |||||||||||||||||||||||||
In millions of dollars | In millions of dollars | Trading assets | Loans | Trading assets | Loans | In millions of dollars | Trading assets | Loans | Trading assets | Loans | ||||||||||||||||||
Carrying amount reported on the Consolidated Balance Sheet | Carrying amount reported on the Consolidated Balance Sheet | $ | 8,382 | $ | 7,159 | $ | 8,063 | $ | 6,854 | Carrying amount reported on the Consolidated Balance Sheet | $ | 7,655 | $ | 4,536 | $ | 9,530 | $ | 6,082 | ||||||||||
Aggregate unpaid principal balance in excess of (less than) fair value | Aggregate unpaid principal balance in excess of (less than) fair value | (116) | (161) | (915) | (14) | Aggregate unpaid principal balance in excess of (less than) fair value | 152 | 195 | (100) | 226 | ||||||||||||||||||
Balance of non-accrual loans or loans more than 90 days past due | Balance of non-accrual loans or loans more than 90 days past due | — | 1 | — | 4 | Balance of non-accrual loans or loans more than 90 days past due | — | 248 | — | 1 | ||||||||||||||||||
Aggregate unpaid principal balance in excess of (less than) fair value for non-accrual loans or loans more than 90 days past due | Aggregate unpaid principal balance in excess of (less than) fair value for non-accrual loans or loans more than 90 days past due | — | 1 | — | — | Aggregate unpaid principal balance in excess of (less than) fair value for non-accrual loans or loans more than 90 days past due | — | — | — | — |
In millions of dollars | September 30, 2021 | December 31, 2020 | ||||||
Carrying amount reported on the Consolidated Balance Sheet | $ | 2,630 | $ | 1,742 | ||||
Aggregate fair value in excess of (less than) unpaid principal balance | 77 | 91 | ||||||
Balance of non-accrual loans or loans more than 90 days past due | 1 | — | ||||||
Aggregate unpaid principal balance in excess of fair value for non-accrual loans or loans more than 90 days past due | — | — |
In millions of dollars | June 30, 2022 | December 31, 2021 | ||||||
Carrying amount reported on the Consolidated Balance Sheet | $ | 1,375 | $ | 3,035 | ||||
Aggregate fair value in excess of (less than) unpaid principal balance | (46) | 70 | ||||||
Balance of non-accrual loans or loans more than 90 days past due | 5 | — | ||||||
Aggregate unpaid principal balance in excess of fair value for non-accrual loans or loans more than 90 days past due | 1 | — |
In billions of dollars | In billions of dollars | September 30, 2021 | December 31, 2020 | In billions of dollars | June 30, 2022 | December 31, 2021 | ||||||||||
Interest rate linked | Interest rate linked | $ | 38.3 | $ | 34.5 | Interest rate linked | $ | 43.9 | $ | 38.9 | ||||||
Foreign exchange linked | Foreign exchange linked | 0.2 | 1.2 | Foreign exchange linked | 0.1 | — | ||||||||||
Equity linked | Equity linked | 32.8 | 27.3 | Equity linked | 36.9 | 36.1 | ||||||||||
Commodity linked | Commodity linked | 4.0 | 1.4 | Commodity linked | 4.7 | 3.9 | ||||||||||
Credit linked | Credit linked | 2.9 | 2.6 | Credit linked | 3.8 | 3.7 | ||||||||||
Total | Total | $ | 78.2 | $ | 67.0 | Total | $ | 89.4 | $ | 82.6 |
In millions of dollars | In millions of dollars | September 30, 2021 | December 31, 2020 | In millions of dollars | June 30, 2022 | December 31, 2021 | ||||||||||
Carrying amount reported on the Consolidated Balance Sheet | Carrying amount reported on the Consolidated Balance Sheet | $ | 78,178 | $ | 67,063 | Carrying amount reported on the Consolidated Balance Sheet | $ | 89,388 | $ | 82,609 | ||||||
Aggregate unpaid principal balance in excess of (less than) fair value | Aggregate unpaid principal balance in excess of (less than) fair value | (3,019) | (5,130) | Aggregate unpaid principal balance in excess of (less than) fair value | (3,011) | (2,459) |
In millions of dollars | In millions of dollars | September 30, 2021 | December 31, 2020 | In millions of dollars | June 30, 2022 | December 31, 2021 | ||||||||||
Carrying amount reported on the Consolidated Balance Sheet | Carrying amount reported on the Consolidated Balance Sheet | $ | 8,814 | $ | 4,683 | Carrying amount reported on the Consolidated Balance Sheet | $ | 6,852 | $ | 7,358 | ||||||
Aggregate unpaid principal balance in excess of (less than) fair value | Aggregate unpaid principal balance in excess of (less than) fair value | — | 68 | Aggregate unpaid principal balance in excess of (less than) fair value | 1 | (644) |
Maximum potential amount of future payments | ||||||||||||||
In billions of dollars at September 30, 2021 | Expire within 1 year | Expire after 1 year | Total amount outstanding | Carrying value (in millions of dollars) | ||||||||||
Financial standby letters of credit | $ | 27.6 | $ | 64.9 | $ | 92.5 | $ | 937 | ||||||
Performance guarantees | 6.5 | 6.1 | 12.6 | 46 | ||||||||||
Derivative instruments considered to be guarantees | 17.0 | 54.9 | 71.9 | 360 | ||||||||||
Loans sold with recourse | — | 1.7 | 1.7 | 15 | ||||||||||
Securities lending indemnifications(1) | 131.7 | — | 131.7 | — | ||||||||||
Credit card merchant processing(2) | 114.6 | — | 114.6 | 1 | ||||||||||
Credit card arrangements with partners | — | 0.8 | 0.8 | 7 | ||||||||||
Custody indemnifications and other | — | 24.5 | 24.5 | 37 | ||||||||||
Total | $ | 297.4 | $ | 152.9 | $ | 450.3 | $ | 1,403 |
Maximum potential amount of future payments | ||||||||||||||
In billions of dollars at December 31, 2020 | Expire within 1 year | Expire after 1 year | Total amount outstanding | Carrying value (in millions of dollars) | ||||||||||
Financial standby letters of credit | $ | 25.3 | $ | 68.4 | $ | 93.7 | $ | 1,407 | ||||||
Performance guarantees | 7.3 | 6.0 | 13.3 | 72 | ||||||||||
Derivative instruments considered to be guarantees | 20.0 | 60.9 | 80.9 | 671 | ||||||||||
Loans sold with recourse | — | 1.2 | 1.2 | 9 | ||||||||||
Securities lending indemnifications(1) | 112.2 | — | 112.2 | — | ||||||||||
Credit card merchant processing(2) | 101.9 | — | 101.9 | 3 | ||||||||||
Credit card arrangements with partners | 0.2 | 0.8 | 1.0 | 7 | ||||||||||
Custody indemnifications and other | — | 37.3 | 37.3 | 35 | ||||||||||
Total | $ | 266.9 | $ | 174.6 | $ | 441.5 | $ | 2,204 |
Maximum potential amount of future payments | ||||||||||||||
In billions of dollars at June 30, 2022 | Expire within 1 year | Expire after 1 year | Total amount outstanding | Carrying value (in millions of dollars) | ||||||||||
Financial standby letters of credit | $ | 35.6 | $ | 57.2 | $ | 92.8 | $ | 784 | ||||||
Performance guarantees | 6.3 | 5.6 | 11.9 | 74 | ||||||||||
Derivative instruments considered to be guarantees | 18.1 | 35.8 | 53.9 | 511 | ||||||||||
Loans sold with recourse | — | 1.6 | 1.6 | 15 | ||||||||||
Securities lending indemnifications(1) | 120.5 | — | 120.5 | — | ||||||||||
Credit card merchant processing(2) | 125.6 | — | 125.6 | — | ||||||||||
Credit card arrangements with partners | 0.1 | 0.6 | 0.7 | 7 | ||||||||||
Other | 0.7 | 12.0 | 12.7 | 29 | ||||||||||
Total | $ | 306.9 | $ | 112.8 | $ | 419.7 | $ | 1,420 |
Maximum potential amount of future payments | ||||||||||||||
In billions of dollars at December 31, 2021 | Expire within 1 year | Expire after 1 year | Total amount outstanding | Carrying value (in millions of dollars) | ||||||||||
Financial standby letters of credit | $ | 34.3 | $ | 58.4 | $ | 92.7 | $ | 791 | ||||||
Performance guarantees | 6.6 | 6.4 | 13.0 | 47 | ||||||||||
Derivative instruments considered to be guarantees | 14.6 | 48.9 | 63.5 | 514 | ||||||||||
Loans sold with recourse | — | 1.7 | 1.7 | 15 | ||||||||||
Securities lending indemnifications(1) | 121.9 | — | 121.9 | — | ||||||||||
Credit card merchant processing(2) | 119.4 | — | 119.4 | 1 | ||||||||||
Credit card arrangements with partners | — | 0.8 | 0.8 | 7 | ||||||||||
Other | 2.0 | 12.0 | 14.0 | 34 | ||||||||||
Total | $ | 298.8 | $ | 128.2 | $ | 427.0 | $ | 1,409 |
Maximum potential amount of future payments | ||||||||||||||
In billions of dollars at September 30, 2021 | Investment grade | Non-investment grade | Not rated | Total | ||||||||||
Financial standby letters of credit | $ | 80.1 | $ | 12.2 | $ | 0.2 | $ | 92.5 | ||||||
Performance guarantees | 10.0 | 2.6 | — | 12.6 | ||||||||||
Derivative instruments deemed to be guarantees | — | — | 71.9 | 71.9 | ||||||||||
Loans sold with recourse | — | — | 1.7 | 1.7 | ||||||||||
Securities lending indemnifications | — | — | 131.7 | 131.7 | ||||||||||
Credit card merchant processing | — | — | 114.6 | 114.6 | ||||||||||
Credit card arrangements with partners | — | — | 0.8 | 0.8 | ||||||||||
Custody indemnifications and other | 11.8 | 12.7 | — | 24.5 | ||||||||||
Total | $ | 101.9 | $ | 27.5 | $ | 320.9 | $ | 450.3 |
Maximum potential amount of future payments | Maximum potential amount of future payments | |||||||||||||||||||||||||||
In billions of dollars at December 31, 2020 | Investment grade | Non-investment grade | Not rated | Total | ||||||||||||||||||||||||
In billions of dollars at June 30, 2022 | In billions of dollars at June 30, 2022 | Investment grade | Non-investment grade | Not rated | Total | |||||||||||||||||||||||
Financial standby letters of credit | Financial standby letters of credit | $ | 78.5 | $ | 14.6 | $ | 0.6 | $ | 93.7 | Financial standby letters of credit | $ | 80.2 | $ | 10.8 | $ | 1.8 | $ | 92.8 | ||||||||||
Performance guarantees | Performance guarantees | 9.8 | 3.0 | 0.5 | 13.3 | Performance guarantees | 9.7 | 2.2 | — | 11.9 | ||||||||||||||||||
Derivative instruments deemed to be guarantees | Derivative instruments deemed to be guarantees | — | — | 80.9 | 80.9 | Derivative instruments deemed to be guarantees | — | — | 53.9 | 53.9 | ||||||||||||||||||
Loans sold with recourse | Loans sold with recourse | — | — | 1.2 | 1.2 | Loans sold with recourse | — | — | 1.6 | 1.6 | ||||||||||||||||||
Securities lending indemnifications | Securities lending indemnifications | — | — | 112.2 | 112.2 | Securities lending indemnifications | — | — | 120.5 | 120.5 | ||||||||||||||||||
Credit card merchant processing | Credit card merchant processing | — | — | 101.9 | 101.9 | Credit card merchant processing | — | — | 125.6 | 125.6 | ||||||||||||||||||
Credit card arrangements with partners | Credit card arrangements with partners | — | — | 1.0 | 1.0 | Credit card arrangements with partners | — | — | 0.7 | 0.7 | ||||||||||||||||||
Custody indemnifications and other | 24.9 | 12.4 | — | 37.3 | ||||||||||||||||||||||||
Other | Other | 0.4 | 12.3 | — | 12.7 | |||||||||||||||||||||||
Total | Total | $ | 113.2 | $ | 30.0 | $ | 298.3 | $ | 441.5 | Total | $ | 90.3 | $ | 25.3 | $ | 304.1 | $ | 419.7 |
Maximum potential amount of future payments | ||||||||||||||
In billions of dollars at December 31, 2021 | Investment grade | Non-investment grade | Not rated | Total | ||||||||||
Financial standby letters of credit | $ | 81.4 | $ | 11.3 | $ | — | $ | 92.7 | ||||||
Performance guarantees | 10.5 | 2.5 | — | 13.0 | ||||||||||
Derivative instruments deemed to be guarantees | — | — | 63.5 | 63.5 | ||||||||||
Loans sold with recourse | — | — | 1.7 | 1.7 | ||||||||||
Securities lending indemnifications | — | — | 121.9 | 121.9 | ||||||||||
Credit card merchant processing | — | — | 119.4 | 119.4 | ||||||||||
Credit card arrangements with partners | — | — | 0.8 | 0.8 | ||||||||||
Other | — | 12.0 | 2.0 | 14.0 | ||||||||||
Total | $ | 91.9 | $ | 25.8 | $ | 309.3 | $ | 427.0 |
In millions of dollars | U.S. | Outside of U.S. | September 30, 2021 | December 31, 2020 | ||||||||||
Commercial and similar letters of credit | $ | 696 | $ | 5,713 | $ | 6,409 | $ | 5,221 | ||||||
One- to four-family residential mortgages | 1,735 | 2,756 | 4,491 | 5,002 | ||||||||||
Revolving open-end loans secured by one- to four-family residential properties | 7,225 | 1,130 | 8,355 | 9,626 | ||||||||||
Commercial real estate, construction and land development | 14,267 | 2,733 | 17,000 | 12,867 | ||||||||||
Credit card lines | 604,350 | 100,607 | 704,957 | 710,399 | ||||||||||
Commercial and other consumer loan commitments | 214,515 | 118,283 | 332,798 | 322,458 | ||||||||||
Other commitments and contingencies | 5,437 | 212 | 5,649 | 5,715 | ||||||||||
Total | $ | 848,225 | $ | 231,434 | $ | 1,079,659 | $ | 1,071,288 |
In millions of dollars | U.S. | Outside of U.S.(1) | June 30, 2022 | December 31, 2021 | ||||||||||
Commercial and similar letters of credit | $ | 732 | $ | 5,840 | $ | 6,572 | $ | 5,910 | ||||||
One- to four-family residential mortgages | 2,048 | 1,692 | 3,740 | 4,351 | ||||||||||
Revolving open-end loans secured by one- to four-family residential properties | 6,280 | 695 | 6,975 | 7,913 | ||||||||||
Commercial real estate, construction and land development | 15,402 | 2,311 | 17,713 | 17,843 | ||||||||||
Credit card lines | 608,097 | 92,859 | 700,956 | 700,559 | ||||||||||
Commercial and other consumer loan commitments | 200,543 | 107,465 | 308,008 | 320,556 | ||||||||||
Other commitments and contingencies | 5,228 | 219 | 5,447 | 5,649 | ||||||||||
Total | $ | 838,330 | $ | 211,081 | $ | 1,049,411 | $ | 1,062,781 |
In millions of dollars | In millions of dollars | September 30, 2021 | December 31, 2020 | In millions of dollars | June 30, 2022 | December 31, 2021 | ||||||||||
Cash and due from banks | Cash and due from banks | $ | 2,733 | $ | 3,774 | Cash and due from banks | $ | 3,786 | $ | 2,786 | ||||||
Deposits with banks, net of allowance | Deposits with banks, net of allowance | 13,900 | 14,203 | Deposits with banks, net of allowance | 13,603 | 10,636 | ||||||||||
Total | Total | $ | 16,633 | $ | 17,977 | Total | $ | 17,389 | $ | 13,422 |
Three Months Ended September 30, 2021 | |||||||||||||||||||||||||||||
In millions of dollars | Citigroup parent company | CGMHI | Other Citigroup subsidiaries and eliminations | Consolidating adjustments | Citigroup consolidated | ||||||||||||||||||||||||
Revenues | |||||||||||||||||||||||||||||
Dividends from subsidiaries | $ | 2,592 | $ | — | $ | — | $ | (2,592) | $ | — | |||||||||||||||||||
Interest revenue | — | 844 | 11,806 | — | 12,650 | ||||||||||||||||||||||||
Interest revenue—intercompany | 935 | 129 | (1,064) | — | — | ||||||||||||||||||||||||
Interest expense | 1,190 | 201 | 861 | — | 2,252 | ||||||||||||||||||||||||
Interest expense—intercompany | 56 | 323 | (379) | — | — | ||||||||||||||||||||||||
Net interest revenue | $ | (311) | $ | 449 | $ | 10,260 | $ | — | $ | 10,398 | |||||||||||||||||||
Commissions and fees | $ | — | $ | 1,893 | $ | 1,506 | $ | — | $ | 3,399 | |||||||||||||||||||
Commissions and fees—intercompany | — | 85 | (85) | — | — | ||||||||||||||||||||||||
Principal transactions | 130 | (1,468) | 3,571 | — | 2,233 | ||||||||||||||||||||||||
Principal transactions—intercompany | (305) | 2,220 | (1,915) | — | — | ||||||||||||||||||||||||
Other revenue | (138) | 159 | 1,103 | — | 1,124 | ||||||||||||||||||||||||
Other revenue—intercompany | (44) | (13) | 57 | — | — | ||||||||||||||||||||||||
Total non-interest revenues | $ | (357) | $ | 2,876 | $ | 4,237 | $ | — | $ | 6,756 | |||||||||||||||||||
Total revenues, net of interest expense | $ | 1,924 | $ | 3,325 | $ | 14,497 | $ | (2,592) | $ | 17,154 | |||||||||||||||||||
Provisions for credit losses and for benefits and claims | $ | (2) | $ | 2 | $ | (192) | $ | — | $ | (192) | |||||||||||||||||||
Operating expenses | |||||||||||||||||||||||||||||
Compensation and benefits | $ | 3 | $ | 1,347 | $ | 4,708 | $ | — | $ | 6,058 | |||||||||||||||||||
Compensation and benefits—intercompany | 21 | — | (21) | — | — | ||||||||||||||||||||||||
Other operating | 35 | 728 | 4,663 | — | 5,426 | ||||||||||||||||||||||||
Other operating—intercompany | 2 | 781 | (783) | — | — | ||||||||||||||||||||||||
Total operating expenses | $ | 61 | $ | 2,856 | $ | 8,567 | $ | — | $ | 11,484 | |||||||||||||||||||
Equity in undistributed income of subsidiaries | $ | 2,530 | $ | — | $ | — | $ | (2,530) | $ | — | |||||||||||||||||||
Income (loss) from continuing operations before income taxes | $ | 4,395 | $ | 467 | $ | 6,122 | $ | (5,122) | $ | 5,862 | |||||||||||||||||||
Provision (benefit) for income taxes | (249) | 183 | 1,259 | — | 1,193 | ||||||||||||||||||||||||
Income (loss) from continuing operations | $ | 4,644 | $ | 284 | $ | 4,863 | $ | (5,122) | $ | 4,669 | |||||||||||||||||||
Income (loss) from discontinued operations, net of taxes | — | — | (1) | — | (1) | ||||||||||||||||||||||||
Net income before attribution of noncontrolling interests | $ | 4,644 | $ | 284 | $ | 4,862 | $ | (5,122) | $ | 4,668 | |||||||||||||||||||
Noncontrolling interests | — | — | 24 | — | 24 | ||||||||||||||||||||||||
Net income (loss) | $ | 4,644 | $ | 284 | $ | 4,838 | $ | (5,122) | $ | 4,644 | |||||||||||||||||||
Comprehensive income | |||||||||||||||||||||||||||||
Add: Other comprehensive income (loss) | $ | (1,731) | $ | (195) | $ | 2,007 | $ | (1,812) | $ | (1,731) | |||||||||||||||||||
Total Citigroup comprehensive income (loss) | $ | 2,913 | $ | 89 | $ | 6,845 | $ | (6,934) | $ | 2,913 | |||||||||||||||||||
Add: Other comprehensive income attributable to noncontrolling interests | $ | — | $ | — | $ | (31) | $ | — | $ | (31) | |||||||||||||||||||
Add: Net income attributable to noncontrolling interests | — | — | 24 | — | 24 | ||||||||||||||||||||||||
Total comprehensive income (loss) | $ | 2,913 | $ | 89 | $ | 6,838 | $ | (6,934) | $ | 2,906 | |||||||||||||||||||
Condensed Consolidating Statements of Income and Comprehensive Income | |||||||||||||||||||||||||||||
Nine Months Ended September 30, 2021 | |||||||||||||||||||||||||||||
In millions of dollars | Citigroup parent company | CGMHI | Other Citigroup subsidiaries and eliminations | Consolidating adjustments | Citigroup consolidated | ||||||||||||||||||||||||
Revenues | |||||||||||||||||||||||||||||
Dividends from subsidiaries | $ | 6,392 | $ | — | $ | — | $ | (6,392) | $ | — | |||||||||||||||||||
Interest revenue | — | 2,829 | 34,818 | — | 37,647 | ||||||||||||||||||||||||
Interest revenue—intercompany | 2,847 | 410 | (3,257) | — | — | ||||||||||||||||||||||||
Interest expense | 3,611 | 645 | 2,628 | — | 6,884 | ||||||||||||||||||||||||
Interest expense—intercompany | 234 | 982 | (1,216) | — | — | ||||||||||||||||||||||||
Net interest revenue | $ | (998) | $ | 1,612 | $ | 30,149 | $ | — | $ | 30,763 | |||||||||||||||||||
Commissions and fees | $ | — | $ | 5,890 | $ | 4,553 | $ | — | $ | 10,443 | |||||||||||||||||||
Commissions and fees—intercompany | (27) | 220 | (193) | — | — | ||||||||||||||||||||||||
Principal transactions | 1,007 | 5,109 | 2,334 | — | 8,450 | ||||||||||||||||||||||||
Principal transactions—intercompany | (1,273) | (2,128) | 3,401 | — | — | ||||||||||||||||||||||||
Other revenue | (87) | 401 | 3,985 | — | 4,299 | ||||||||||||||||||||||||
Other revenue—intercompany | (105) | (41) | 146 | — | — | ||||||||||||||||||||||||
Total non-interest revenues | $ | (485) | $ | 9,451 | $ | 14,226 | $ | — | $ | 23,192 | |||||||||||||||||||
Total revenues, net of interest expense | $ | 4,909 | $ | 11,063 | $ | 44,375 | $ | (6,392) | $ | 53,955 | |||||||||||||||||||
Provisions for credit losses and for benefits and claims | $ | — | $ | 9 | $ | (3,322) | $ | — | $ | (3,313) | |||||||||||||||||||
Operating expenses | |||||||||||||||||||||||||||||
Compensation and benefits | $ | 31 | $ | 3,984 | $ | 14,026 | $ | — | $ | 18,041 | |||||||||||||||||||
Compensation and benefits—intercompany | 69 | — | (69) | — | — | ||||||||||||||||||||||||
Other operating | 60 | 2,050 | 13,598 | — | 15,708 | ||||||||||||||||||||||||
Other operating—intercompany | 8 | 2,269 | (2,277) | — | — | ||||||||||||||||||||||||
Total operating expenses | $ | 168 | $ | 8,303 | $ | 25,278 | $ | — | $ | 33,749 | |||||||||||||||||||
Equity in undistributed income of subsidiaries | $ | 13,270 | $ | — | $ | — | $ | (13,270) | $ | — | |||||||||||||||||||
Income (loss) from continuing operations before income taxes | $ | 18,011 | $ | 2,751 | $ | 22,419 | $ | (19,662) | $ | 23,519 | |||||||||||||||||||
Provision (benefit) for income taxes | (768) | 516 | 4,932 | — | 4,680 | ||||||||||||||||||||||||
Income (loss) from continuing operations | $ | 18,779 | $ | 2,235 | $ | 17,487 | $ | (19,662) | $ | 18,839 | |||||||||||||||||||
Income (loss) from discontinued operations, net of taxes | — | — | 7 | — | 7 | ||||||||||||||||||||||||
Net income before attribution of noncontrolling interests | $ | 18,779 | $ | 2,235 | $ | 17,494 | $ | (19,662) | $ | 18,846 | |||||||||||||||||||
Noncontrolling interests | — | — | 67 | — | 67 | ||||||||||||||||||||||||
Net income (loss) | $ | 18,779 | $ | 2,235 | $ | 17,427 | $ | (19,662) | $ | 18,779 | |||||||||||||||||||
Comprehensive income | |||||||||||||||||||||||||||||
Add: Other comprehensive income (loss) | $ | (4,793) | $ | (238) | $ | 578 | $ | (340) | $ | (4,793) | |||||||||||||||||||
Total Citigroup comprehensive income (loss) | $ | 13,986 | $ | 1,997 | $ | 18,005 | $ | (20,002) | $ | 13,986 | |||||||||||||||||||
Add: Other comprehensive income attributable to noncontrolling interests | $ | — | $ | — | $ | (71) | $ | — | $ | (71) | |||||||||||||||||||
Add: Net income attributable to noncontrolling interests | — | — | 67 | — | 67 | ||||||||||||||||||||||||
Total comprehensive income (loss) | $ | 13,986 | $ | 1,997 | $ | 18,001 | $ | (20,002) | $ | 13,982 | |||||||||||||||||||
Three Months Ended September 30, 2020 | Three Months Ended June 30, 2022 | |||||||||||||||||||||||||||||||||||||||||||||
In millions of dollars | In millions of dollars | Citigroup parent company | CGMHI | Other Citigroup subsidiaries and eliminations | Consolidating adjustments | Citigroup consolidated | In millions of dollars | Citigroup parent company | CGMHI | Other Citigroup subsidiaries and eliminations | Consolidating adjustments | Citigroup consolidated | ||||||||||||||||||||||||||||||||||
Revenues | Revenues | Revenues | ||||||||||||||||||||||||||||||||||||||||||||
Dividends from subsidiaries | Dividends from subsidiaries | $ | 2,250 | $ | — | $ | — | $ | (2,250) | $ | — | Dividends from subsidiaries | $ | 1,800 | $ | — | $ | — | $ | (1,800) | $ | — | ||||||||||||||||||||||||
Interest revenue | Interest revenue | — | 1,128 | 12,186 | — | 13,314 | Interest revenue | 1 | 1,593 | 14,036 | — | 15,630 | ||||||||||||||||||||||||||||||||||
Interest revenue—intercompany | Interest revenue—intercompany | 991 | 153 | (1,144) | — | — | Interest revenue—intercompany | 1,031 | 293 | (1,324) | — | — | ||||||||||||||||||||||||||||||||||
Interest expense | Interest expense | 1,267 | 274 | 1,280 | — | 2,821 | Interest expense | 1,298 | 702 | 1,666 | — | 3,666 | ||||||||||||||||||||||||||||||||||
Interest expense—intercompany | Interest expense—intercompany | 61 | 416 | (477) | — | — | Interest expense—intercompany | 150 | 682 | (832) | — | — | ||||||||||||||||||||||||||||||||||
Net interest revenue | $ | (337) | $ | 591 | $ | 10,239 | $ | — | $ | 10,493 | ||||||||||||||||||||||||||||||||||||
Net interest income | Net interest income | $ | (416) | $ | 502 | $ | 11,878 | $ | — | $ | 11,964 | |||||||||||||||||||||||||||||||||||
Commissions and fees | Commissions and fees | $ | — | $ | 1,494 | $ | 1,259 | $ | — | $ | 2,753 | Commissions and fees | $ | — | $ | 1,228 | $ | 1,224 | $ | — | $ | 2,452 | ||||||||||||||||||||||||
Commissions and fees—intercompany | Commissions and fees—intercompany | — | 30 | (30) | — | — | Commissions and fees—intercompany | (1) | 42 | (41) | — | — | ||||||||||||||||||||||||||||||||||
Principal transactions | Principal transactions | (169) | (3,779) | 6,456 | — | 2,508 | Principal transactions | 2,032 | 8,213 | (5,720) | — | 4,525 | ||||||||||||||||||||||||||||||||||
Principal transactions—intercompany | Principal transactions—intercompany | 42 | 4,350 | (4,392) | — | — | Principal transactions—intercompany | (2,110) | (7,349) | 9,459 | — | — | ||||||||||||||||||||||||||||||||||
Other revenue | Other revenue | (90) | 208 | 1,430 | — | 1,548 | Other revenue | 319 | 106 | 272 | — | 697 | ||||||||||||||||||||||||||||||||||
Other revenue—intercompany | Other revenue—intercompany | 78 | 12 | (90) | — | — | Other revenue—intercompany | (124) | (17) | 141 | — | — | ||||||||||||||||||||||||||||||||||
Total non-interest revenues | Total non-interest revenues | $ | (139) | $ | 2,315 | $ | 4,633 | $ | — | $ | 6,809 | Total non-interest revenues | $ | 116 | $ | 2,223 | $ | 5,335 | $ | — | $ | 7,674 | ||||||||||||||||||||||||
Total revenues, net of interest expense | Total revenues, net of interest expense | $ | 1,774 | $ | 2,906 | $ | 14,872 | $ | (2,250) | $ | 17,302 | Total revenues, net of interest expense | $ | 1,500 | $ | 2,725 | $ | 17,213 | $ | (1,800) | $ | 19,638 | ||||||||||||||||||||||||
Provisions for credit losses and for benefits and claims | Provisions for credit losses and for benefits and claims | $ | — | $ | (1) | $ | 2,385 | $ | — | $ | 2,384 | Provisions for credit losses and for benefits and claims | $ | — | $ | 2 | $ | 1,272 | $ | — | $ | 1,274 | ||||||||||||||||||||||||
Operating expenses | Operating expenses | Operating expenses | ||||||||||||||||||||||||||||||||||||||||||||
Compensation and benefits | Compensation and benefits | $ | (21) | $ | 1,165 | $ | 4,451 | $ | — | $ | 5,595 | Compensation and benefits | $ | (2) | $ | 1,323 | $ | 5,151 | $ | — | $ | 6,472 | ||||||||||||||||||||||||
Compensation and benefits—intercompany | Compensation and benefits—intercompany | 44 | — | (44) | — | — | Compensation and benefits—intercompany | — | — | — | — | — | ||||||||||||||||||||||||||||||||||
Other operating | Other operating | 5 | 597 | 4,767 | — | 5,369 | Other operating | (12) | 890 | 5,043 | — | 5,921 | ||||||||||||||||||||||||||||||||||
Other operating—intercompany | Other operating—intercompany | 4 | 772 | (776) | — | — | Other operating—intercompany | 4 | 618 | (622) | — | — | ||||||||||||||||||||||||||||||||||
Total operating expenses | Total operating expenses | $ | 32 | $ | 2,534 | $ | 8,398 | $ | — | $ | 10,964 | Total operating expenses | $ | (10) | $ | 2,831 | $ | 9,572 | $ | — | $ | 12,393 | ||||||||||||||||||||||||
Equity in undistributed income of subsidiaries | Equity in undistributed income of subsidiaries | $ | 1,056 | $ | — | $ | — | $ | (1,056) | $ | — | Equity in undistributed income of subsidiaries | $ | 2,632 | $ | — | $ | — | $ | (2,632) | $ | — | ||||||||||||||||||||||||
Income (loss) from continuing operations before income taxes | Income (loss) from continuing operations before income taxes | $ | 2,798 | $ | 373 | $ | 4,089 | $ | (3,306) | $ | 3,954 | Income (loss) from continuing operations before income taxes | $ | 4,142 | $ | (108) | $ | 6,369 | $ | (4,432) | $ | 5,971 | ||||||||||||||||||||||||
Provision (benefit) for income taxes | Provision (benefit) for income taxes | (348) | 165 | 960 | — | 777 | Provision (benefit) for income taxes | (405) | 101 | 1,486 | — | 1,182 | ||||||||||||||||||||||||||||||||||
Income (loss) from continuing operations | Income (loss) from continuing operations | $ | 3,146 | $ | 208 | $ | 3,129 | $ | (3,306) | $ | 3,177 | Income (loss) from continuing operations | $ | 4,547 | $ | (209) | $ | 4,883 | $ | (4,432) | $ | 4,789 | ||||||||||||||||||||||||
Income (loss) from discontinued operations, net of taxes | Income (loss) from discontinued operations, net of taxes | — | — | (7) | — | (7) | Income (loss) from discontinued operations, net of taxes | — | — | (221) | — | (221) | ||||||||||||||||||||||||||||||||||
Net income (loss) before attribution of noncontrolling interests | $ | 3,146 | $ | 208 | $ | 3,122 | $ | (3,306) | $ | 3,170 | ||||||||||||||||||||||||||||||||||||
Net income before attribution of noncontrolling interests | Net income before attribution of noncontrolling interests | $ | 4,547 | $ | (209) | $ | 4,662 | $ | (4,432) | $ | 4,568 | |||||||||||||||||||||||||||||||||||
Noncontrolling interests | Noncontrolling interests | — | — | 24 | — | 24 | Noncontrolling interests | — | — | 21 | — | 21 | ||||||||||||||||||||||||||||||||||
Net income (loss) | Net income (loss) | $ | 3,146 | $ | 208 | $ | 3,098 | $ | (3,306) | $ | 3,146 | Net income (loss) | $ | 4,547 | $ | (209) | $ | 4,641 | $ | (4,432) | $ | 4,547 | ||||||||||||||||||||||||
Comprehensive income | Comprehensive income | Comprehensive income | ||||||||||||||||||||||||||||||||||||||||||||
Add: Other comprehensive income (loss) | Add: Other comprehensive income (loss) | $ | 280 | $ | (51) | $ | (2,178) | $ | 2,229 | $ | 280 | Add: Other comprehensive income (loss) | $ | (1,910) | $ | 647 | $ | 889 | $ | (1,536) | $ | (1,910) | ||||||||||||||||||||||||
Total Citigroup comprehensive income (loss) | Total Citigroup comprehensive income (loss) | $ | 3,426 | $ | 157 | $ | 920 | $ | (1,077) | $ | 3,426 | Total Citigroup comprehensive income (loss) | $ | 2,637 | $ | 438 | $ | 5,530 | $ | (5,968) | $ | 2,637 | ||||||||||||||||||||||||
Add: Other comprehensive income attributable to noncontrolling interests | Add: Other comprehensive income attributable to noncontrolling interests | $ | — | $ | — | $ | 19 | $ | — | $ | 19 | Add: Other comprehensive income attributable to noncontrolling interests | $ | — | $ | — | $ | (53) | $ | — | $ | (53) | ||||||||||||||||||||||||
Add: Net income attributable to noncontrolling interests | Add: Net income attributable to noncontrolling interests | — | — | 24 | — | 24 | Add: Net income attributable to noncontrolling interests | — | — | 21 | — | 21 | ||||||||||||||||||||||||||||||||||
Total comprehensive income (loss) | Total comprehensive income (loss) | $ | 3,426 | $ | 157 | $ | 963 | $ | (1,077) | $ | 3,469 | Total comprehensive income (loss) | $ | 2,637 | $ | 438 | $ | 5,498 | $ | (5,968) | $ | 2,605 |
Condensed Consolidating Statements of Income and Comprehensive Income | |||||||||||||||||||||||||||||
Nine Months Ended September 30, 2020 | |||||||||||||||||||||||||||||
In millions of dollars | Citigroup parent company | CGMHI | Other Citigroup subsidiaries and eliminations | Consolidating adjustments | Citigroup consolidated | ||||||||||||||||||||||||
Revenues | |||||||||||||||||||||||||||||
Dividends from subsidiaries | $ | 2,355 | $ | — | $ | — | $ | (2,355) | $ | — | |||||||||||||||||||
Interest revenue | — | 4,340 | 40,702 | — | 45,042 | ||||||||||||||||||||||||
Interest revenue—intercompany | 3,202 | 776 | (3,978) | — | — | ||||||||||||||||||||||||
Interest expense | 3,675 | 1,795 | 6,507 | — | 11,977 | ||||||||||||||||||||||||
Interest expense—intercompany | 451 | 1,819 | (2,270) | — | — | ||||||||||||||||||||||||
Net interest revenue | $ | (924) | $ | 1,502 | $ | 32,487 | $ | — | $ | 33,065 | |||||||||||||||||||
Commissions and fees | $ | — | $ | 4,815 | $ | 3,892 | $ | — | $ | 8,707 | |||||||||||||||||||
Commissions and fees—intercompany | (19) | 267 | (248) | — | — | ||||||||||||||||||||||||
Principal transactions | (1,099) | (518) | 13,543 | — | 11,926 | ||||||||||||||||||||||||
Principal transactions—intercompany | 606 | 4,849 | (5,455) | — | — | ||||||||||||||||||||||||
Other revenue | (24) | 468 | 3,657 | — | 4,101 | ||||||||||||||||||||||||
Other revenue—intercompany | 16 | 38 | (54) | — | — | ||||||||||||||||||||||||
Total non-interest revenues | $ | (520) | $ | 9,919 | $ | 15,335 | $ | — | $ | 24,734 | |||||||||||||||||||
Total revenues, net of interest expense | $ | 911 | $ | 11,421 | $ | 47,822 | $ | (2,355) | $ | 57,799 | |||||||||||||||||||
Provisions for credit losses and for benefits and claims | $ | — | $ | (1) | $ | 17,542 | $ | — | $ | 17,541 | |||||||||||||||||||
Operating expenses | |||||||||||||||||||||||||||||
Compensation and benefits | $ | 112 | $ | 3,806 | $ | 12,955 | $ | — | $ | 16,873 | |||||||||||||||||||
Compensation and benefits—intercompany | 119 | — | (119) | — | — | ||||||||||||||||||||||||
Other operating | 37 | 1,789 | 13,368 | — | 15,194 | ||||||||||||||||||||||||
Other operating—intercompany | 12 | 1,629 | (1,641) | — | — | ||||||||||||||||||||||||
Total operating expenses | $ | 280 | $ | 7,224 | $ | 24,563 | $ | — | $ | 32,067 | |||||||||||||||||||
Equity in undistributed income of subsidiaries | $ | 5,285 | $ | — | $ | — | $ | (5,285) | $ | — | |||||||||||||||||||
Income (loss) from continuing operations before income taxes | $ | 5,916 | $ | 4,198 | $ | 5,717 | $ | (7,640) | $ | 8,191 | |||||||||||||||||||
Provision (benefit) for income taxes | (822) | 1,217 | 1,014 | — | 1,409 | ||||||||||||||||||||||||
Income (loss) from continuing operations | $ | 6,738 | $ | 2,981 | $ | 4,703 | $ | (7,640) | $ | 6,782 | |||||||||||||||||||
Income (loss) from discontinued operations, net of taxes | — | — | (26) | — | (26) | ||||||||||||||||||||||||
Net income (loss) before attribution of noncontrolling interests | $ | 6,738 | $ | 2,981 | $ | 4,677 | $ | (7,640) | $ | 6,756 | |||||||||||||||||||
Noncontrolling interests | — | — | 18 | — | 18 | ||||||||||||||||||||||||
Net income (loss) | $ | 6,738 | $ | 2,981 | $ | 4,659 | $ | (7,640) | $ | 6,738 | |||||||||||||||||||
Comprehensive income | |||||||||||||||||||||||||||||
Add: Other comprehensive income (loss) | $ | 3,253 | $ | 277 | $ | 10,058 | $ | (10,335) | $ | 3,253 | |||||||||||||||||||
Total Citigroup comprehensive income (loss) | $ | 9,991 | $ | 3,258 | $ | 14,717 | $ | (17,975) | $ | 9,991 | |||||||||||||||||||
Add: Other comprehensive income attributable to noncontrolling interests | $ | — | $ | — | $ | 7 | $ | — | $ | 7 | |||||||||||||||||||
Add: Net income attributable to noncontrolling interests | — | — | 18 | — | 18 | ||||||||||||||||||||||||
Total comprehensive income (loss) | $ | 9,991 | $ | 3,258 | $ | 14,742 | $ | (17,975) | $ | 10,016 |
Condensed Consolidating Statements of Income and Comprehensive Income | |||||||||||||||||
Six Months Ended June 30, 2022 | |||||||||||||||||
In millions of dollars | Citigroup parent company | CGMHI | Other Citigroup subsidiaries and eliminations | Consolidating adjustments | Citigroup consolidated | ||||||||||||
Revenues | |||||||||||||||||
Dividends from subsidiaries | $ | 2,050 | $ | — | $ | — | $ | (2,050) | $ | — | |||||||
Interest revenue | 1 | 2,355 | 26,425 | — | 28,781 | ||||||||||||
Interest revenue—intercompany | 1,933 | 432 | (2,365) | — | — | ||||||||||||
Interest expense | 2,477 | 896 | 2,573 | — | 5,946 | ||||||||||||
Interest expense—intercompany | 240 | 1,036 | (1,276) | — | — | ||||||||||||
Net interest income | $ | (783) | $ | 855 | $ | 22,763 | $ | — | $ | 22,835 | |||||||
Commissions and fees | $ | — | $ | 2,589 | $ | 2,431 | $ | — | $ | 5,020 | |||||||
Commissions and fees—intercompany | (1) | 126 | (125) | — | — | ||||||||||||
Principal transactions | 3,894 | 9,810 | (4,589) | — | 9,115 | ||||||||||||
Principal transactions—intercompany | (3,959) | (7,437) | 11,396 | — | — | ||||||||||||
Other revenue | 388 | 264 | 1,202 | — | 1,854 | ||||||||||||
Other revenue—intercompany | (181) | (35) | 216 | — | — | ||||||||||||
Total non-interest revenues | $ | 141 | $ | 5,317 | $ | 10,531 | $ | — | $ | 15,989 | |||||||
Total revenues, net of interest expense | $ | 1,408 | $ | 6,172 | $ | 33,294 | $ | (2,050) | $ | 38,824 | |||||||
Provisions for credit losses and for benefits and claims | $ | — | $ | 1 | $ | 2,028 | $ | — | $ | 2,029 | |||||||
Operating expenses | |||||||||||||||||
Compensation and benefits | $ | (2) | $ | 2,835 | $ | 10,459 | $ | — | $ | 13,292 | |||||||
Compensation and benefits—intercompany | 11 | — | (11) | — | — | ||||||||||||
Other operating | 12 | 1,546 | 10,708 | — | 12,266 | ||||||||||||
Other operating—intercompany | 7 | 1,372 | (1,379) | — | — | ||||||||||||
Total operating expenses | $ | 28 | $ | 5,753 | $ | 19,777 | $ | — | $ | 25,558 | |||||||
Equity in undistributed income of subsidiaries | $ | 6,766 | $ | — | $ | — | $ | (6,766) | $ | — | |||||||
Income (loss) from continuing operations before income taxes | $ | 8,146 | $ | 418 | $ | 11,489 | $ | (8,816) | $ | 11,237 | |||||||
Provision (benefit) for income taxes | (707) | (115) | 2,945 | — | 2,123 | ||||||||||||
Income (loss) from continuing operations | $ | 8,853 | $ | 533 | $ | 8,544 | $ | (8,816) | $ | 9,114 | |||||||
Income (loss) from discontinued operations, net of taxes | — | — | (223) | — | (223) | ||||||||||||
Net income before attribution of noncontrolling interests | $ | 8,853 | $ | 533 | $ | 8,321 | $ | (8,816) | $ | 8,891 | |||||||
Noncontrolling interests | — | — | 38 | — | 38 | ||||||||||||
Net income (loss) | $ | 8,853 | $ | 533 | $ | 8,283 | $ | (8,816) | $ | 8,853 | |||||||
Comprehensive income | |||||||||||||||||
Add: Other comprehensive income (loss) | $ | (6,730) | $ | 1,096 | $ | (5,269) | $ | 4,173 | $ | (6,730) | |||||||
Total Citigroup comprehensive income (loss) | $ | 2,123 | $ | 1,629 | $ | 3,014 | $ | (4,643) | $ | 2,123 | |||||||
Add: Other comprehensive income attributable to noncontrolling interests | $ | — | $ | — | $ | (82) | $ | — | $ | (82) | |||||||
Add: Net income attributable to noncontrolling interests | — | — | 38 | — | 38 | ||||||||||||
Total comprehensive income (loss) | $ | 2,123 | $ | 1,629 | $ | 2,970 | $ | (4,643) | $ | 2,079 | |||||||
Three Months Ended June 30, 2021 | |||||||||||||||||
In millions of dollars | Citigroup parent company | CGMHI | Other Citigroup subsidiaries and eliminations | Consolidating adjustments | Citigroup consolidated | ||||||||||||
Revenues | |||||||||||||||||
Dividends from subsidiaries | $ | 3,700 | $ | — | $ | — | $ | (3,700) | $ | — | |||||||
Interest revenue | — | 1,014 | 11,449 | — | 12,463 | ||||||||||||
Interest revenue—intercompany | 954 | 136 | (1,090) | — | — | ||||||||||||
Interest expense | 1,209 | 221 | 555 | — | 1,985 | ||||||||||||
Interest expense—intercompany | 94 | 330 | (424) | — | — | ||||||||||||
Net interest income | $ | (349) | $ | 599 | $ | 10,228 | $ | — | $ | 10,478 | |||||||
Commissions and fees | $ | — | $ | 1,836 | $ | 1,538 | $ | — | $ | 3,374 | |||||||
Commissions and fees—intercompany | (1) | 88 | (87) | — | — | ||||||||||||
Principal transactions | (892) | 919 | 2,277 | — | 2,304 | ||||||||||||
Principal transactions—intercompany | 910 | (110) | (800) | — | — | ||||||||||||
Other revenue | (4) | 139 | 1,462 | — | 1,597 | ||||||||||||
Other revenue—intercompany | 3 | (8) | 5 | — | — | ||||||||||||
Total non-interest revenues | $ | 16 | $ | 2,864 | $ | 4,395 | $ | — | $ | 7,275 | |||||||
Total revenues, net of interest expense | $ | 3,367 | $ | 3,463 | $ | 14,623 | $ | (3,700) | $ | 17,753 | |||||||
Provisions for credit losses and for benefits and claims | $ | 2 | $ | 3 | $ | (1,071) | $ | — | $ | (1,066) | |||||||
Operating expenses | |||||||||||||||||
Compensation and benefits | $ | — | $ | 1,303 | $ | 4,679 | $ | — | $ | 5,982 | |||||||
Compensation and benefits—intercompany | 24 | — | (24) | — | — | ||||||||||||
Other operating | 14 | 680 | 4,795 | — | 5,489 | ||||||||||||
Other operating—intercompany | 3 | 808 | (811) | — | — | ||||||||||||
Total operating expenses | $ | 41 | $ | 2,791 | $ | 8,639 | $ | — | $ | 11,471 | |||||||
Equity in undistributed income of subsidiaries | $ | 2,567 | $ | — | $ | — | $ | (2,567) | $ | — | |||||||
Income (loss) from continuing operations before income taxes | $ | 5,891 | $ | 669 | $ | 7,055 | $ | (6,267) | $ | 7,348 | |||||||
Provision (benefit) for income taxes | (302) | (119) | 1,576 | — | 1,155 | ||||||||||||
Income (loss) from continuing operations | $ | 6,193 | $ | 788 | $ | 5,479 | $ | (6,267) | $ | 6,193 | |||||||
Income (loss) from discontinued operations, net of taxes | — | — | 10 | — | 10 | ||||||||||||
Net income (loss) before attribution of noncontrolling interests | $ | 6,193 | $ | 788 | $ | 5,489 | $ | (6,267) | $ | 6,203 | |||||||
Noncontrolling interests | — | — | 10 | — | 10 | ||||||||||||
Net income (loss) | $ | 6,193 | $ | 788 | $ | 5,479 | $ | (6,267) | $ | 6,193 | |||||||
Comprehensive income | |||||||||||||||||
Add: Other comprehensive income (loss) | $ | (109) | $ | 7 | $ | (1,966) | $ | 1,959 | $ | (109) | |||||||
Total Citigroup comprehensive income (loss) | $ | 6,084 | $ | 795 | $ | 3,513 | $ | (4,308) | $ | 6,084 | |||||||
Add: Other comprehensive income attributable to noncontrolling interests | $ | — | $ | — | $ | 18 | $ | — | $ | 18 | |||||||
Add: Net income attributable to noncontrolling interests | — | — | 10 | — | 10 | ||||||||||||
Total comprehensive income (loss) | $ | 6,084 | $ | 795 | $ | 3,541 | $ | (4,308) | $ | 6,112 | |||||||
Condensed Consolidating Statements of Income and Comprehensive Income | |||||||||||||||||
Six Months Ended June 30, 2021 | |||||||||||||||||
In millions of dollars | Citigroup parent company | CGMHI | Other Citigroup subsidiaries and eliminations | Consolidating adjustments | Citigroup consolidated | ||||||||||||
Revenues | |||||||||||||||||
Dividends from subsidiaries | $ | 3,800 | $ | — | $ | — | $ | (3,800) | $ | — | |||||||
Interest revenue | — | 1,985 | 23,012 | — | 24,997 | ||||||||||||
Interest revenue—intercompany | 1,912 | 281 | (2,193) | — | — | ||||||||||||
Interest expense | 2,421 | 444 | 1,148 | — | 4,013 | ||||||||||||
Interest expense—intercompany | 178 | 659 | (837) | — | — | ||||||||||||
Net interest income | $ | (687) | $ | 1,163 | $ | 20,508 | $ | — | $ | 20,984 | |||||||
Commissions and fees | $ | — | $ | 3,997 | $ | 3,047 | $ | — | $ | 7,044 | |||||||
Commissions and fees—intercompany | (27) | 135 | (108) | — | — | ||||||||||||
Principal transactions | 877 | 6,577 | (1,237) | — | 6,217 | ||||||||||||
Principal transactions—intercompany | (968) | (4,348) | 5,316 | — | — | ||||||||||||
Other revenue | 51 | 242 | 2,882 | — | 3,175 | ||||||||||||
Other revenue—intercompany | (61) | (28) | 89 | — | — | ||||||||||||
Total non-interest revenues | $ | (128) | $ | 6,575 | $ | 9,989 | $ | — | $ | 16,436 | |||||||
Total revenues, net of interest expense | $ | 2,985 | $ | 7,738 | $ | 30,497 | $ | (3,800) | $ | 37,420 | |||||||
Provisions for credit losses and for benefits and claims | $ | 2 | $ | 7 | $ | (3,130) | $ | — | $ | (3,121) | |||||||
Operating expenses | |||||||||||||||||
Compensation and benefits | $ | 28 | $ | 2,637 | $ | 9,318 | $ | — | $ | 11,983 | |||||||
Compensation and benefits—intercompany | 48 | — | (48) | — | — | ||||||||||||
Other operating | 25 | 1,322 | 9,554 | — | 10,901 | ||||||||||||
Other operating—intercompany | 6 | 1,488 | (1,494) | — | — | ||||||||||||
Total operating expenses | $ | 107 | $ | 5,447 | $ | 17,330 | $ | — | $ | 22,884 | |||||||
Equity in undistributed income of subsidiaries | $ | 10,740 | $ | — | $ | — | $ | (10,740) | $ | — | |||||||
Income (loss) from continuing operations before income taxes | $ | 13,616 | $ | 2,284 | $ | 16,297 | $ | (14,540) | $ | 17,657 | |||||||
Provision (benefit) for income taxes | (519) | 333 | 3,673 | — | 3,487 | ||||||||||||
Income (loss) from continuing operations | $ | 14,135 | $ | 1,951 | $ | 12,624 | $ | (14,540) | $ | 14,170 | |||||||
Income (loss) from discontinued operations, net of taxes | — | — | 8 | — | 8 | ||||||||||||
Net income (loss) before attribution of noncontrolling interests | $ | 14,135 | $ | 1,951 | $ | 12,632 | $ | (14,540) | $ | 14,178 | |||||||
Noncontrolling interests | — | — | 43 | — | 43 | ||||||||||||
Net income (loss) | $ | 14,135 | $ | 1,951 | $ | 12,589 | $ | (14,540) | $ | 14,135 | |||||||
Comprehensive income | |||||||||||||||||
Add: Other comprehensive income (loss) | $ | (3,062) | $ | (43) | $ | (1,429) | $ | 1,472 | $ | (3,062) | |||||||
Total Citigroup comprehensive income (loss) | $ | 11,073 | $ | 1,908 | $ | 11,160 | $ | (13,068) | $ | 11,073 | |||||||
Add: Other comprehensive income attributable to noncontrolling interests | $ | — | $ | — | $ | (40) | $ | — | $ | (40) | |||||||
Add: Net income attributable to noncontrolling interests | — | — | 43 | — | 43 | ||||||||||||
Total comprehensive income (loss) | $ | 11,073 | $ | 1,908 | $ | 11,163 | $ | (13,068) | $ | 11,076 |
September 30, 2021 | June 30, 2022 | |||||||||||||||||||||||||||||||||||||||||||||
In millions of dollars | In millions of dollars | Citigroup parent company | CGMHI | Other Citigroup subsidiaries and eliminations | Consolidating adjustments | Citigroup consolidated | In millions of dollars | Citigroup parent company | CGMHI | Other Citigroup subsidiaries and eliminations | Consolidating adjustments | Citigroup consolidated | ||||||||||||||||||||||||||||||||||
Assets | Assets | Assets | ||||||||||||||||||||||||||||||||||||||||||||
Cash and due from banks | Cash and due from banks | $ | — | $ | 965 | $ | 27,941 | $ | — | $ | 28,906 | Cash and due from banks | $ | — | $ | 1,103 | $ | 23,799 | $ | — | $ | 24,902 | ||||||||||||||||||||||||
Cash and due from banks—intercompany | Cash and due from banks—intercompany | 8 | 6,033 | (6,041) | — | — | Cash and due from banks—intercompany | 14 | 5,357 | (5,371) | — | — | ||||||||||||||||||||||||||||||||||
Deposits with banks, net of allowance | Deposits with banks, net of allowance | — | 5,763 | 289,139 | — | 294,902 | Deposits with banks, net of allowance | — | 8,105 | 251,023 | — | 259,128 | ||||||||||||||||||||||||||||||||||
Deposits with banks—intercompany | Deposits with banks—intercompany | 4,000 | 9,200 | (13,200) | — | — | Deposits with banks—intercompany | 3,500 | 10,417 | (13,917) | — | — | ||||||||||||||||||||||||||||||||||
Securities borrowed and purchased under resale agreements | Securities borrowed and purchased under resale agreements | — | 277,955 | 59,741 | — | 337,696 | Securities borrowed and purchased under resale agreements | — | 301,364 | 59,970 | — | 361,334 | ||||||||||||||||||||||||||||||||||
Securities borrowed and purchased under resale agreements—intercompany | Securities borrowed and purchased under resale agreements—intercompany | — | 25,137 | (25,137) | — | — | Securities borrowed and purchased under resale agreements—intercompany | — | 19,070 | (19,070) | — | — | ||||||||||||||||||||||||||||||||||
Trading account assets | Trading account assets | 249 | 204,591 | 138,074 | — | 342,914 | Trading account assets | 193 | 191,486 | 149,196 | — | 340,875 | ||||||||||||||||||||||||||||||||||
Trading account assets—intercompany | Trading account assets—intercompany | 1,001 | 5,043 | (6,044) | — | — | Trading account assets—intercompany | 908 | 2,991 | (3,899) | — | — | ||||||||||||||||||||||||||||||||||
Investments, net of allowance | Investments, net of allowance | 1 | 266 | 500,582 | — | 500,849 | Investments, net of allowance | 1 | 234 | 513,643 | — | 513,878 | ||||||||||||||||||||||||||||||||||
Loans, net of unearned income | Loans, net of unearned income | — | 3,018 | 661,746 | — | 664,764 | Loans, net of unearned income | — | 1,862 | 655,471 | — | 657,333 | ||||||||||||||||||||||||||||||||||
Loans, net of unearned income—intercompany | Loans, net of unearned income—intercompany | — | — | — | — | — | Loans, net of unearned income—intercompany | — | — | — | — | — | ||||||||||||||||||||||||||||||||||
Allowance for credit losses on loans (ACLL) | Allowance for credit losses on loans (ACLL) | — | — | (17,715) | — | (17,715) | Allowance for credit losses on loans (ACLL) | — | — | (15,952) | — | (15,952) | ||||||||||||||||||||||||||||||||||
Total loans, net | Total loans, net | $ | — | $ | 3,018 | $ | 644,031 | $ | — | $ | 647,049 | Total loans, net | $ | — | $ | 1,862 | $ | 639,519 | $ | — | $ | 641,381 | ||||||||||||||||||||||||
Advances to subsidiaries | Advances to subsidiaries | $ | 147,338 | $ | — | $ | (147,338) | $ | — | $ | — | Advances to subsidiaries | $ | 142,832 | $ | — | $ | (142,832) | $ | — | $ | — | ||||||||||||||||||||||||
Investments in subsidiaries | Investments in subsidiaries | 222,021 | — | — | (222,021) | — | Investments in subsidiaries | 222,196 | — | — | (222,196) | — | ||||||||||||||||||||||||||||||||||
Other assets, net of allowance(1) | Other assets, net of allowance(1) | 11,043 | 74,168 | 124,349 | — | 209,560 | Other assets, net of allowance(1) | 11,177 | 90,338 | 137,891 | — | 239,406 | ||||||||||||||||||||||||||||||||||
Other assets—intercompany | Other assets—intercompany | 2,867 | 62,048 | (64,915) | — | — | Other assets—intercompany | 3,857 | 77,889 | (81,746) | — | — | ||||||||||||||||||||||||||||||||||
Total assets | Total assets | $ | 388,528 | $ | 674,187 | $ | 1,521,182 | $ | (222,021) | $ | 2,361,876 | Total assets | $ | 384,678 | $ | 710,216 | $ | 1,508,206 | $ | (222,196) | $ | 2,380,904 | ||||||||||||||||||||||||
Liabilities and equity | Liabilities and equity | Liabilities and equity | ||||||||||||||||||||||||||||||||||||||||||||
Deposits | Deposits | $ | — | $ | — | $ | 1,347,528 | $ | — | $ | 1,347,528 | Deposits | $ | — | $ | — | $ | 1,321,848 | $ | — | $ | 1,321,848 | ||||||||||||||||||||||||
Deposits—intercompany | Deposits—intercompany | — | — | — | — | — | Deposits—intercompany | — | — | — | — | — | ||||||||||||||||||||||||||||||||||
Securities loaned and sold under repurchase agreements | Securities loaned and sold under repurchase agreements | — | 192,276 | 16,908 | — | 209,184 | Securities loaned and sold under repurchase agreements | — | 179,917 | 18,555 | — | 198,472 | ||||||||||||||||||||||||||||||||||
Securities loaned and sold under repurchase agreements—intercompany | Securities loaned and sold under repurchase agreements—intercompany | — | 66,703 | (66,703) | — | — | Securities loaned and sold under repurchase agreements—intercompany | — | 63,380 | (63,380) | — | — | ||||||||||||||||||||||||||||||||||
Trading account liabilities | Trading account liabilities | 32 | 131,565 | 47,689 | — | 179,286 | Trading account liabilities | 29 | 114,029 | 66,395 | — | 180,453 | ||||||||||||||||||||||||||||||||||
Trading account liabilities—intercompany | Trading account liabilities—intercompany | 632 | 4,565 | (5,197) | — | — | Trading account liabilities—intercompany | 141 | 2,624 | (2,765) | — | — | ||||||||||||||||||||||||||||||||||
Short-term borrowings | Short-term borrowings | — | 14,547 | 15,136 | — | 29,683 | Short-term borrowings | — | 18,372 | 21,682 | — | 40,054 | ||||||||||||||||||||||||||||||||||
Short-term borrowings—intercompany | Short-term borrowings—intercompany | — | 16,400 | (16,400) | — | — | Short-term borrowings—intercompany | — | 19,557 | (19,557) | — | — | ||||||||||||||||||||||||||||||||||
Long-term debt | Long-term debt | 170,104 | 57,826 | 30,344 | — | 258,274 | Long-term debt | 167,874 | 71,603 | 17,948 | — | 257,425 | ||||||||||||||||||||||||||||||||||
Long-term debt—intercompany | Long-term debt—intercompany | — | 74,016 | (74,016) | — | — | Long-term debt—intercompany | — | 86,144 | (86,144) | — | — | ||||||||||||||||||||||||||||||||||
Advances from subsidiaries | Advances from subsidiaries | 14,049 | — | (14,049) | — | — | Advances from subsidiaries | 14,834 | — | (14,834) | — | — | ||||||||||||||||||||||||||||||||||
Other liabilities, including allowance | 2,780 | 66,345 | 67,186 | — | 136,311 | |||||||||||||||||||||||||||||||||||||||||
Other liabilities | Other liabilities | 2,639 | 97,035 | 83,352 | — | 183,026 | ||||||||||||||||||||||||||||||||||||||||
Other liabilities—intercompany | Other liabilities—intercompany | 56 | 12,466 | (12,522) | — | — | Other liabilities—intercompany | 147 | 17,915 | (18,062) | — | — | ||||||||||||||||||||||||||||||||||
Stockholders’ equity | Stockholders’ equity | 200,875 | 37,478 | 185,278 | (222,021) | 201,610 | Stockholders’ equity | 199,014 | 39,640 | 183,168 | (222,196) | 199,626 | ||||||||||||||||||||||||||||||||||
Total liabilities and equity | Total liabilities and equity | $ | 388,528 | $ | 674,187 | $ | 1,521,182 | $ | (222,021) | $ | 2,361,876 | Total liabilities and equity | $ | 384,678 | $ | 710,216 | $ | 1,508,206 | $ | (222,196) | $ | 2,380,904 |
December 31, 2021 | |||||||||||||||||
In millions of dollars | Citigroup parent company | CGMHI | Other Citigroup subsidiaries and eliminations | Consolidating adjustments | Citigroup consolidated | ||||||||||||
Assets | |||||||||||||||||
Cash and due from banks | $ | — | $ | 834 | $ | 26,681 | $ | — | $ | 27,515 | |||||||
Cash and due from banks—intercompany | 17 | 6,890 | (6,907) | — | — | ||||||||||||
Deposits with banks, net of allowance | — | 7,936 | 226,582 | — | 234,518 | ||||||||||||
Deposits with banks—intercompany | 3,500 | 11,005 | (14,505) | — | — | ||||||||||||
Securities borrowed and purchased under resale agreements | — | 269,608 | 57,680 | — | 327,288 | ||||||||||||
Securities borrowed and purchased under resale agreements—intercompany | — | 23,362 | (23,362) | — | — | ||||||||||||
Trading account assets | 248 | 189,841 | 141,856 | — | 331,945 | ||||||||||||
Trading account assets—intercompany | 1,215 | 1,438 | (2,653) | — | — | ||||||||||||
Investments, net of allowance | 1 | 224 | 512,597 | — | 512,822 | ||||||||||||
Loans, net of unearned income | — | 2,293 | 665,474 | — | 667,767 | ||||||||||||
Loans, net of unearned income—intercompany | — | — | — | — | — | ||||||||||||
Allowance for credit losses on loans (ACLL) | — | — | (16,455) | — | (16,455) | ||||||||||||
Total loans, net | $ | — | $ | 2,293 | $ | 649,019 | $ | — | $ | 651,312 | |||||||
Advances to subsidiaries | $ | 142,144 | $ | — | $ | (142,144) | $ | — | $ | — | |||||||
Investments in subsidiaries | 223,303 | — | — | (223,303) | — | ||||||||||||
Other assets, net of allowance(1) | 10,589 | 69,312 | 126,112 | — | 206,013 | ||||||||||||
Other assets—intercompany | 2,737 | 60,567 | (63,304) | — | — | ||||||||||||
Total assets | $ | 383,754 | $ | 643,310 | $ | 1,487,652 | $ | (223,303) | $ | 2,291,413 | |||||||
Liabilities and equity | |||||||||||||||||
Deposits | $ | — | $ | — | $ | 1,317,230 | $ | — | $ | 1,317,230 | |||||||
Deposits—intercompany | — | — | — | — | — | ||||||||||||
Securities loaned and sold under repurchase agreements | — | 171,818 | 19,467 | — | 191,285 | ||||||||||||
Securities loaned and sold under repurchase agreements—intercompany | — | 62,197 | (62,197) | — | — | ||||||||||||
Trading account liabilities | 17 | 122,383 | 39,129 | — | 161,529 | ||||||||||||
Trading account liabilities—intercompany | 777 | 500 | (1,277) | — | — | ||||||||||||
Short-term borrowings | — | 13,425 | 14,548 | — | 27,973 | ||||||||||||
Short-term borrowings—intercompany | — | 17,230 | (17,230) | — | — | ||||||||||||
Long-term debt | 164,945 | 61,416 | 28,013 | — | 254,374 | ||||||||||||
Long-term debt—intercompany | — | 76,335 | (76,335) | — | — | ||||||||||||
Advances from subsidiaries | 13,469 | — | (13,469) | — | — | ||||||||||||
Other liabilities | 2,574 | 68,206 | 65,570 | — | 136,350 | ||||||||||||
Other liabilities—intercompany | — | 11,774 | (11,774) | — | — | ||||||||||||
Stockholders’ equity | 201,972 | 38,026 | 185,977 | (223,303) | 202,672 | ||||||||||||
Total liabilities and equity | $ | 383,754 | $ | 643,310 | $ | 1,487,652 | $ | (223,303) | $ | 2,291,413 |
December 31, 2020 | |||||||||||||||||||||||||||||
In millions of dollars | Citigroup parent company | CGMHI | Other Citigroup subsidiaries and eliminations | Consolidating adjustments | Citigroup consolidated | ||||||||||||||||||||||||
Assets | |||||||||||||||||||||||||||||
Cash and due from banks | $ | — | $ | 628 | $ | 25,721 | $ | — | $ | 26,349 | |||||||||||||||||||
Cash and due from banks—intercompany | 16 | 6,081 | (6,097) | — | — | ||||||||||||||||||||||||
Deposits with banks, net of allowance | — | 5,224 | 278,042 | — | 283,266 | ||||||||||||||||||||||||
Deposits with banks—intercompany | 4,500 | 8,179 | (12,679) | — | — | ||||||||||||||||||||||||
Securities borrowed and purchased under resale agreements | — | 238,718 | 55,994 | — | 294,712 | ||||||||||||||||||||||||
Securities borrowed and purchased under resale agreements—intercompany | — | 24,309 | (24,309) | — | — | ||||||||||||||||||||||||
Trading account assets | 307 | 222,278 | 152,494 | — | 375,079 | ||||||||||||||||||||||||
Trading account assets—intercompany | 723 | 9,400 | (10,123) | — | — | ||||||||||||||||||||||||
Investments, net of allowance | 1 | 374 | 446,984 | — | 447,359 | ||||||||||||||||||||||||
Loans, net of unearned income | — | 2,524 | 673,359 | — | 675,883 | ||||||||||||||||||||||||
Loans, net of unearned income—intercompany | — | — | — | — | — | ||||||||||||||||||||||||
Allowance for credit losses on loans (ACLL) | — | — | (24,956) | — | (24,956) | ||||||||||||||||||||||||
Total loans, net | $ | — | $ | 2,524 | $ | 648,403 | $ | — | $ | 650,927 | |||||||||||||||||||
Advances to subsidiaries | $ | 152,383 | $ | — | $ | (152,383) | $ | — | $ | — | |||||||||||||||||||
Investments in subsidiaries | 213,267 | — | — | (213,267) | — | ||||||||||||||||||||||||
Other assets, net of allowance(1) | 12,156 | 60,273 | 109,969 | — | 182,398 | ||||||||||||||||||||||||
Other assets—intercompany | 2,781 | 51,489 | (54,270) | — | — | ||||||||||||||||||||||||
Total assets | $ | 386,134 | $ | 629,477 | $ | 1,457,746 | $ | (213,267) | $ | 2,260,090 | |||||||||||||||||||
Liabilities and equity | |||||||||||||||||||||||||||||
Deposits | $ | — | $ | — | $ | 1,280,671 | $ | — | $ | 1,280,671 | |||||||||||||||||||
Deposits—intercompany | — | — | — | — | — | ||||||||||||||||||||||||
Securities loaned and sold under repurchase agreements | — | 184,786 | 14,739 | — | 199,525 | ||||||||||||||||||||||||
Securities loaned and sold under repurchase agreements—intercompany | — | 76,590 | (76,590) | — | — | ||||||||||||||||||||||||
Trading account liabilities | — | 113,100 | 54,927 | — | 168,027 | ||||||||||||||||||||||||
Trading account liabilities—intercompany | 397 | 8,591 | (8,988) | — | — | ||||||||||||||||||||||||
Short-term borrowings | — | 12,323 | 17,191 | — | 29,514 | ||||||||||||||||||||||||
Short-term borrowings—intercompany | — | 12,757 | (12,757) | — | — | ||||||||||||||||||||||||
Long-term debt | 170,563 | 47,732 | 53,391 | — | 271,686 | ||||||||||||||||||||||||
Long-term debt—intercompany | — | 67,322 | (67,322) | — | — | ||||||||||||||||||||||||
Advances from subsidiaries | 12,975 | — | (12,975) | — | — | ||||||||||||||||||||||||
Other liabilities, including allowance | 2,692 | 55,217 | 52,558 | — | 110,467 | ||||||||||||||||||||||||
Other liabilities—intercompany | 65 | 15,378 | (15,443) | — | — | ||||||||||||||||||||||||
Stockholders’ equity | 199,442 | 35,681 | 178,344 | (213,267) | 200,200 | ||||||||||||||||||||||||
Total liabilities and equity | $ | 386,134 | $ | 629,477 | $ | 1,457,746 | $ | (213,267) | $ | 2,260,090 |
Nine Months Ended September 30, 2021 | Six Months Ended June 30, 2022 | |||||||||||||||||||||||||||||||||||||||||||||
In millions of dollars | In millions of dollars | Citigroup parent company | CGMHI | Other Citigroup subsidiaries and eliminations | Consolidating adjustments | Citigroup consolidated | In millions of dollars | Citigroup parent company | CGMHI | Other Citigroup subsidiaries and eliminations | Consolidating adjustments | Citigroup consolidated | ||||||||||||||||||||||||||||||||||
Net cash provided by operating activities of continuing operations | $ | 3,604 | $ | 30,413 | $ | 25,168 | $ | — | $ | 59,185 | ||||||||||||||||||||||||||||||||||||
Net cash provided by (used in) operating activities of continuing operations | Net cash provided by (used in) operating activities of continuing operations | $ | (6,787) | $ | (5,447) | $ | 8,965 | $ | — | $ | (3,269) | |||||||||||||||||||||||||||||||||||
Cash flows from investing activities of continuing operations | Cash flows from investing activities of continuing operations | Cash flows from investing activities of continuing operations | ||||||||||||||||||||||||||||||||||||||||||||
Available-for-sale debt securities: | Available-for-sale debt securities: | |||||||||||||||||||||||||||||||||||||||||||||
Purchases of investments | Purchases of investments | $ | — | $ | — | $ | (277,874) | $ | — | $ | (277,874) | Purchases of investments | $ | — | $ | — | $ | (123,528) | $ | — | $ | (123,528) | ||||||||||||||||||||||||
Proceeds from sales of investments | Proceeds from sales of investments | — | — | 96,203 | — | 96,203 | Proceeds from sales of investments | — | — | 79,952 | — | 79,952 | ||||||||||||||||||||||||||||||||||
Proceeds from maturities of investments | Proceeds from maturities of investments | — | — | 107,361 | — | 107,361 | Proceeds from maturities of investments | — | — | 76,871 | — | 76,871 | ||||||||||||||||||||||||||||||||||
Held-to-maturity debt securities: | Held-to-maturity debt securities: | |||||||||||||||||||||||||||||||||||||||||||||
Purchases of investments | Purchases of investments | — | — | (34,317) | — | (34,317) | ||||||||||||||||||||||||||||||||||||||||
Proceeds from maturities of investments | Proceeds from maturities of investments | — | — | 5,821 | — | 5,821 | ||||||||||||||||||||||||||||||||||||||||
Change in loans | Change in loans | — | — | 6,613 | — | 6,613 | Change in loans | — | — | (14,790) | — | (14,790) | ||||||||||||||||||||||||||||||||||
Proceeds from sales and securitizations of loans | Proceeds from sales and securitizations of loans | — | — | 1,134 | — | 1,134 | Proceeds from sales and securitizations of loans | — | — | 1,562 | — | 1,562 | ||||||||||||||||||||||||||||||||||
Proceeds from divestitures | Proceeds from divestitures | — | — | 1,940 | — | 1,940 | ||||||||||||||||||||||||||||||||||||||||
Change in securities borrowed and purchased under agreements to resell | Change in securities borrowed and purchased under agreements to resell | — | (40,065) | (2,919) | — | (42,984) | Change in securities borrowed and purchased under agreements to resell | — | (27,194) | (6,852) | — | (34,046) | ||||||||||||||||||||||||||||||||||
Changes in investments and advances—intercompany | Changes in investments and advances—intercompany | 3,374 | (9,743) | 6,369 | — | — | Changes in investments and advances—intercompany | (2,951) | (16,450) | 19,401 | — | — | ||||||||||||||||||||||||||||||||||
Other investing activities | Other investing activities | — | (42) | (2,480) | — | (2,522) | Other investing activities | — | (25) | (2,741) | — | (2,766) | ||||||||||||||||||||||||||||||||||
Net cash provided by (used in) investing activities of continuing operations | Net cash provided by (used in) investing activities of continuing operations | $ | 3,374 | $ | (49,850) | $ | (65,593) | $ | — | $ | (112,069) | Net cash provided by (used in) investing activities of continuing operations | $ | (2,951) | $ | (43,669) | $ | 3,319 | $ | — | $ | (43,301) | ||||||||||||||||||||||||
Cash flows from financing activities of continuing operations | Cash flows from financing activities of continuing operations | Cash flows from financing activities of continuing operations | ||||||||||||||||||||||||||||||||||||||||||||
Dividends paid | Dividends paid | $ | (3,959) | $ | (195) | $ | 195 | $ | — | $ | (3,959) | Dividends paid | $ | (2,514) | $ | (266) | $ | 266 | $ | — | $ | (2,514) | ||||||||||||||||||||||||
Issuance of preferred stock | 2,300 | — | — | — | 2,300 | |||||||||||||||||||||||||||||||||||||||||
Redemption of preferred stock | (3,785) | — | — | — | (3,785) | |||||||||||||||||||||||||||||||||||||||||
Treasury stock acquired | Treasury stock acquired | (7,448) | — | — | — | (7,448) | Treasury stock acquired | (3,200) | — | — | — | (3,200) | ||||||||||||||||||||||||||||||||||
Proceeds (repayments) from issuance of long-term debt, net | Proceeds (repayments) from issuance of long-term debt, net | 4,660 | 11,336 | (18,507) | — | (2,511) | Proceeds (repayments) from issuance of long-term debt, net | 14,418 | 21,082 | (3,635) | — | 31,865 | ||||||||||||||||||||||||||||||||||
Proceeds (repayments) from issuance of long-term debt—intercompany, net | Proceeds (repayments) from issuance of long-term debt—intercompany, net | — | 9,084 | (9,084) | — | — | Proceeds (repayments) from issuance of long-term debt—intercompany, net | — | 11,110 | (11,110) | — | — | ||||||||||||||||||||||||||||||||||
Change in deposits | Change in deposits | — | — | 73,769 | — | 73,769 | Change in deposits | — | — | 25,360 | — | 25,360 | ||||||||||||||||||||||||||||||||||
Change in securities loaned and sold under agreements to repurchase | Change in securities loaned and sold under agreements to repurchase | — | (2,397) | 12,056 | — | 9,659 | Change in securities loaned and sold under agreements to repurchase | — | 9,282 | (2,095) | — | 7,187 | ||||||||||||||||||||||||||||||||||
Change in short-term borrowings | Change in short-term borrowings | — | 2,224 | (2,055) | — | 169 | Change in short-term borrowings | — | 4,947 | 7,134 | — | 12,081 | ||||||||||||||||||||||||||||||||||
Net change in short-term borrowings and other advances—intercompany | Net change in short-term borrowings and other advances—intercompany | 1,074 | 1,253 | (2,327) | — | — | Net change in short-term borrowings and other advances—intercompany | 1,365 | 1,027 | (2,392) | — | — | ||||||||||||||||||||||||||||||||||
Capital contributions from (to) parent | Capital contributions from (to) parent | — | — | (19) | 19 | — | — | Capital contributions from (to) parent | — | 250 | (250) | — | — | |||||||||||||||||||||||||||||||||
Other financing activities | Other financing activities | (328) | — | — | — | (328) | Other financing activities | (334) | 1 | (1) | — | (334) | ||||||||||||||||||||||||||||||||||
Net cash provided by (used in) financing activities of continuing operations | Net cash provided by (used in) financing activities of continuing operations | $ | (7,486) | $ | 21,286 | $ | 54,066 | $ | — | $ | 67,866 | Net cash provided by (used in) financing activities of continuing operations | $ | 9,735 | $ | 47,433 | $ | 13,277 | $ | — | $ | 70,445 | ||||||||||||||||||||||||
Effect of exchange rate changes on cash and due from banks | Effect of exchange rate changes on cash and due from banks | $ | — | $ | — | $ | (789) | $ | — | $ | (789) | Effect of exchange rate changes on cash and due from banks | $ | — | $ | — | $ | (1,878) | $ | — | $ | (1,878) | ||||||||||||||||||||||||
Change in cash and due from banks and deposits with banks | Change in cash and due from banks and deposits with banks | $ | (508) | $ | 1,849 | $ | 12,852 | $ | — | $ | 14,193 | Change in cash and due from banks and deposits with banks | $ | (3) | $ | (1,683) | $ | 23,683 | $ | — | $ | 21,997 | ||||||||||||||||||||||||
Cash and due from banks and deposits with banks at beginning of period | Cash and due from banks and deposits with banks at beginning of period | 4,516 | 20,112 | 284,987 | — | 309,615 | Cash and due from banks and deposits with banks at beginning of period | 3,517 | 26,665 | 231,851 | — | 262,033 | ||||||||||||||||||||||||||||||||||
Cash and due from banks and deposits with banks at end of period | Cash and due from banks and deposits with banks at end of period | $ | 4,008 | $ | 21,961 | $ | 297,839 | $ | — | $ | 323,808 | Cash and due from banks and deposits with banks at end of period | $ | 3,514 | $ | 24,982 | $ | 255,534 | $ | — | $ | 284,030 | ||||||||||||||||||||||||
Cash and due from banks | Cash and due from banks | $ | 8 | $ | 6,998 | $ | 21,900 | $ | — | $ | 28,906 | Cash and due from banks | $ | 14 | $ | 6,460 | $ | 18,428 | $ | — | $ | 24,902 | ||||||||||||||||||||||||
Deposits with banks, net of allowance | Deposits with banks, net of allowance | 4,000 | 14,963 | 275,939 | — | 294,902 | Deposits with banks, net of allowance | 3,500 | 18,522 | 237,106 | — | 259,128 | ||||||||||||||||||||||||||||||||||
Cash and due from banks and deposits with banks at end of period | Cash and due from banks and deposits with banks at end of period | $ | 4,008 | $ | 21,961 | $ | 297,839 | $ | — | $ | 323,808 | Cash and due from banks and deposits with banks at end of period | $ | 3,514 | $ | 24,982 | $ | 255,534 | $ | — | $ | 284,030 | ||||||||||||||||||||||||
Supplemental disclosure of cash flow information for continuing operations | Supplemental disclosure of cash flow information for continuing operations | Supplemental disclosure of cash flow information for continuing operations | ||||||||||||||||||||||||||||||||||||||||||||
Cash paid (received) during the period for income taxes | Cash paid (received) during the period for income taxes | $ | (1,757) | $ | 809 | $ | 4,011 | $ | — | $ | 3,063 | Cash paid (received) during the period for income taxes | $ | (15) | $ | (8) | $ | 1,684 | $ | — | $ | 1,661 | ||||||||||||||||||||||||
Cash paid during the period for interest | Cash paid during the period for interest | 2,307 | 1,687 | 2,900 | — | 6,894 | Cash paid during the period for interest | 1,305 | 1,869 | 3,110 | — | 6,284 | ||||||||||||||||||||||||||||||||||
Non-cash investing activities | Non-cash investing activities | Non-cash investing activities | ||||||||||||||||||||||||||||||||||||||||||||
Decrease in net loans associated with significant disposals reclassified to HFS | $ | — | $ | — | $ | 8,291 | $ | — | $ | 8,291 | ||||||||||||||||||||||||||||||||||||
Transfer of investment securities from AFS to HTM | Transfer of investment securities from AFS to HTM | $ | — | $ | — | $ | 21,522 | $ | — | $ | 21,522 | |||||||||||||||||||||||||||||||||||
Decrease in net loans associated with divestitures reclassified to HFS | Decrease in net loans associated with divestitures reclassified to HFS | — | — | 17,758 | — | 17,758 | ||||||||||||||||||||||||||||||||||||||||
Decrease in goodwill associated with divestitures reclassified to HFS | Decrease in goodwill associated with divestitures reclassified to HFS | — | — | 873 | — | 873 | ||||||||||||||||||||||||||||||||||||||||
Transfers to loans HFS from loans | — | — | 5,329 | — | 5,329 | |||||||||||||||||||||||||||||||||||||||||
Transfers to loans HFS (Other assets) from loans | Transfers to loans HFS (Other assets) from loans | — | — | 1,874 | — | 1,874 | ||||||||||||||||||||||||||||||||||||||||
Non-cash financing activities | Non-cash financing activities | Non-cash financing activities | ||||||||||||||||||||||||||||||||||||||||||||
Decrease in long-term debt associated with significant disposals reclassified to HFS | $ | — | $ | — | $ | 521 | $ | — | $ | 521 | ||||||||||||||||||||||||||||||||||||
Decrease in deposits associated with significant disposals reclassified to HFS | — | — | 6,912 | — | 6,912 | |||||||||||||||||||||||||||||||||||||||||
Decrease in deposits associated with divestitures reclassified to HFS | Decrease in deposits associated with divestitures reclassified to HFS | $ | — | $ | — | $ | 20,741 | $ | — | $ | 20,741 |
Nine Months Ended September 30, 2020 | |||||||||||||||||||||||||||||
In millions of dollars | Citigroup parent company | CGMHI | Other Citigroup subsidiaries and eliminations | Consolidating adjustments | Citigroup consolidated | ||||||||||||||||||||||||
Net cash provided by (used in) operating activities of continuing operations | $ | 3,605 | $ | (36,465) | $ | 10,606 | $ | — | $ | (22,254) | |||||||||||||||||||
Cash flows from investing activities of continuing operations | |||||||||||||||||||||||||||||
Purchases of investments | $ | — | $ | — | $ | (276,084) | $ | — | $ | (276,084) | |||||||||||||||||||
Proceeds from sales of investments | — | — | 130,237 | — | 130,237 | ||||||||||||||||||||||||
Proceeds from maturities of investments | — | — | 78,476 | — | 78,476 | ||||||||||||||||||||||||
Change in loans | — | — | 23,488 | — | 23,488 | ||||||||||||||||||||||||
Proceeds from sales and securitizations of loans | — | — | 924 | — | 924 | ||||||||||||||||||||||||
Change in securities borrowed and purchased under agreements to resell | — | (35,332) | (2,704) | — | (38,036) | ||||||||||||||||||||||||
Changes in investments and advances—intercompany | (5,179) | (5,532) | 10,711 | — | — | ||||||||||||||||||||||||
Other investing activities | — | — | (2,205) | — | (2,205) | ||||||||||||||||||||||||
Net cash used in investing activities of continuing operations | $ | (5,179) | $ | (40,864) | $ | (37,157) | $ | — | $ | (83,200) | |||||||||||||||||||
Cash flows from financing activities of continuing operations | |||||||||||||||||||||||||||||
Dividends paid | $ | (4,024) | $ | (168) | $ | 168 | $ | — | $ | (4,024) | |||||||||||||||||||
Issuance of preferred stock | 1,500 | — | — | — | 1,500 | ||||||||||||||||||||||||
Redemption of preferred stock | (1,500) | — | — | — | (1,500) | ||||||||||||||||||||||||
Treasury stock acquired | (2,925) | — | — | — | (2,925) | ||||||||||||||||||||||||
Proceeds (repayments) from issuance of long-term debt, net | 16,136 | 6,606 | (4,664) | — | 18,078 | ||||||||||||||||||||||||
Proceeds (repayments) from issuance of long-term debt—intercompany, net | — | 1,607 | (1,607) | — | — | ||||||||||||||||||||||||
Change in deposits | — | — | 192,033 | — | 192,033 | ||||||||||||||||||||||||
Change in securities loaned and sold under agreements to repurchase | — | 75,977 | (35,089) | — | 40,888 | ||||||||||||||||||||||||
Change in short-term borrowings | — | 788 | (8,398) | — | (7,610) | ||||||||||||||||||||||||
Net change in short-term borrowings and other advances—intercompany | (7,214) | (6,524) | 13,738 | — | — | ||||||||||||||||||||||||
Other financing activities | (408) | — | — | — | (408) | ||||||||||||||||||||||||
Net cash provided by financing activities of continuing operations | $ | 1,565 | $ | 78,286 | $ | 156,181 | $ | — | $ | 236,032 | |||||||||||||||||||
Effect of exchange rate changes on cash and due from banks | $ | — | $ | — | $ | (802) | $ | — | $ | (802) | |||||||||||||||||||
Change in cash and due from banks and deposits with banks | $ | (9) | $ | 957 | $ | 128,828 | $ | — | $ | 129,776 | |||||||||||||||||||
Cash and due from banks and deposits with banks at beginning of period | 3,021 | 16,441 | 174,457 | — | 193,919 | ||||||||||||||||||||||||
Cash and due from banks and deposits with banks at end of period | $ | 3,012 | $ | 17,398 | $ | 303,285 | $ | — | $ | 323,695 | |||||||||||||||||||
Cash and due from banks | $ | 12 | $ | 5,960 | $ | 19,336 | $ | — | $ | 25,308 | |||||||||||||||||||
Deposits with banks, net of allowance | 3,000 | 11,438 | 283,949 | — | 298,387 | ||||||||||||||||||||||||
Cash and due from banks and deposits with banks at end of period | $ | 3,012 | $ | 17,398 | $ | 303,285 | $ | — | $ | 323,695 | |||||||||||||||||||
Supplemental disclosure of cash flow information for continuing operations | |||||||||||||||||||||||||||||
Cash paid during the period for income taxes | $ | (1,263) | $ | 1,177 | $ | 3,923 | $ | — | $ | 3,837 | |||||||||||||||||||
Cash paid during the period for interest | 2,507 | 3,988 | 5,007 | — | 11,502 | ||||||||||||||||||||||||
Non-cash investing activities | |||||||||||||||||||||||||||||
Transfers to loans HFS from loans | $ | — | $ | — | $ | 2,122 | $ | — | $ | 2,122 | |||||||||||||||||||
Six Months Ended June 30, 2021 | |||||||||||||||||
In millions of dollars | Citigroup parent company | CGMHI | Other Citigroup subsidiaries and eliminations | Consolidating adjustments | Citigroup consolidated | ||||||||||||
Net cash provided by (used in) operating activities of continuing operations | $ | 1,429 | $ | 5,912 | $ | 16,222 | $ | — | $ | 23,563 | |||||||
Cash flows from investing activities of continuing operations | |||||||||||||||||
Available-for-sale debt securities: | |||||||||||||||||
Purchases of investments | $ | — | $ | — | $ | (114,240) | $ | — | $ | (114,240) | |||||||
Proceeds from sales of investments | — | — | 66,135 | — | 66,135 | ||||||||||||
Proceeds from maturities of investments | — | — | 62,904 | — | 62,904 | ||||||||||||
Held-to-maturity debt securities: | |||||||||||||||||
Purchases of investments | — | — | (87,049) | — | (87,049) | ||||||||||||
Proceeds from maturities of investments | — | — | 12,291 | — | 12,291 | ||||||||||||
Change in loans | — | — | (3,088) | — | (3,088) | ||||||||||||
Proceeds from sales and securitizations of loans | — | — | 869 | — | 869 | ||||||||||||
Change in securities borrowed and purchased under agreements to resell | — | (14,084) | (251) | — | (14,335) | ||||||||||||
Changes in investments and advances—intercompany | (2,424) | (7,360) | 9,784 | — | — | ||||||||||||
Other investing activities | — | (15) | (1,583) | — | (1,598) | ||||||||||||
Net cash provided by (used in) investing activities of continuing operations | $ | (2,424) | $ | (21,459) | $ | (54,228) | $ | — | $ | (78,111) | |||||||
Cash flows from financing activities of continuing operations | |||||||||||||||||
Dividends paid | $ | (2,663) | $ | (187) | $ | 187 | $ | — | $ | (2,663) | |||||||
Issuance of preferred stock | 2,300 | — | — | — | 2,300 | ||||||||||||
Redemption of preferred stock | (3,785) | — | — | — | (3,785) | ||||||||||||
Treasury stock acquired | (4,381) | — | — | — | (4,381) | ||||||||||||
Proceeds (repayments) from issuance of long-term debt, net | 7,576 | 8,446 | (16,405) | — | (383) | ||||||||||||
Proceeds (repayments) from issuance of long-term debt—intercompany, net | — | 11,040 | (11,040) | — | — | ||||||||||||
Change in deposits | — | — | 29,610 | — | 29,610 | ||||||||||||
Change in securities loaned and sold under agreements to repurchase | — | (9,152) | 31,444 | — | 22,292 | ||||||||||||
Change in short-term borrowings | — | 3,358 | (1,410) | — | 1,948 | ||||||||||||
Net change in short-term borrowings and other advances—intercompany | 772 | 4,885 | (5,657) | — | — | ||||||||||||
Other financing activities | (324) | — | — | — | (324) | ||||||||||||
Net cash provided by financing activities of continuing operations | $ | (505) | $ | 18,390 | $ | 26,729 | $ | — | $ | 44,614 | |||||||
Effect of exchange rate changes on cash and due from banks | $ | — | $ | — | $ | (443) | $ | — | $ | (443) | |||||||
Change in cash and due from banks and deposits with banks | $ | (1,500) | $ | 2,843 | $ | (11,720) | $ | — | $ | (10,377) | |||||||
Cash and due from banks and deposits with banks at beginning of period | 4,516 | 20,112 | 284,987 | — | 309,615 | ||||||||||||
Cash and due from banks and deposits with banks at end of period | $ | 3,016 | $ | 22,955 | $ | 273,267 | $ | — | $ | 299,238 | |||||||
Cash and due from banks | $ | 16 | $ | 6,642 | $ | 20,459 | $ | — | $ | 27,117 | |||||||
Deposits with banks, net of allowance | 3,000 | 16,313 | 252,808 | — | 272,121 | ||||||||||||
Cash and due from banks and deposits with banks at end of period | $ | 3,016 | $ | 22,955 | $ | 273,267 | $ | — | $ | 299,238 | |||||||
Supplemental disclosure of cash flow information for continuing operations | |||||||||||||||||
Cash paid during the period for income taxes | $ | (1,437) | $ | 649 | $ | 2,964 | $ | — | $ | 2,176 | |||||||
Cash paid during the period for interest | 1,287 | 1,197 | 1,442 | — | 3,926 | ||||||||||||
Non-cash investing activities | |||||||||||||||||
Transfers to loans HFS from loans | $ | — | $ | — | $ | 961 | $ | — | $ | 961 | |||||||
In millions, except per share amounts | Total shares purchased | Average price paid per share | |||||||||
July 2021 | |||||||||||
Open market repurchases | 6.9 | $ | 68.04 | ||||||||
Employee transactions(1) | — | — | |||||||||
August 2021 | |||||||||||
Open market repurchases | 21.5 | 71.26 | |||||||||
Employee transactions(1) | — | — | |||||||||
September 2021 | |||||||||||
Open market repurchases | 14.3 | 70.08 | |||||||||
Employee transactions(1) | — | — | |||||||||
Total for 3Q21 | 42.7 | $ | 70.34 |
In millions, except per share amounts | Total shares purchased | Average price paid per share | |||||||||
April 2022 | |||||||||||
Open market repurchases | — | $ | — | ||||||||
Employee transactions(1) | — | — | |||||||||
May 2022 | |||||||||||
Open market repurchases | — | — | |||||||||
Employee transactions(1) | — | — | |||||||||
June 2022 | |||||||||||
Open market repurchases | 5.3 | 47.07 | |||||||||
Employee transactions(1) | — | — | |||||||||
Total for 2Q22 | 5.3 | $ | 47.07 |
Exhibit | ||||||||
Number | Description of Exhibit | |||||||
101.01+ | Financial statements from the Quarterly Report on Form 10-Q of Citigroup for the | |||||||
104 | See the cover page of this Quarterly Report on Form 10-Q, formatted in Inline XBRL. |