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As Of Filer Filing For·On·As Docs:Size 5/06/21 Citigroup Inc. 10-Q 3/31/21 166:61M |
Document/Exhibit Description Pages Size
1: 10-Q Quarterly Report HTML 6.59M
2: EX-10.01 Material Contract HTML 123K
3: EX-10.02 Material Contract HTML 61K
4: EX-10.03 Material Contract HTML 159K
8: EX-99.01 Miscellaneous Exhibit HTML 59K
5: EX-31.01 Certification -- §302 - SOA'02 HTML 48K
6: EX-31.02 Certification -- §302 - SOA'02 HTML 48K
7: EX-32.01 Certification -- §906 - SOA'02 HTML 46K
15: R1 Cover Page HTML 124K
16: R2 Consolidated Statement of Income (Unaudited) HTML 200K
17: R3 Consolidated Statement of Comprehensive Income HTML 90K
(Unaudited)
18: R4 Consolidated Balance Sheet HTML 176K
19: R5 Consolidated Balance Sheet (Parenthetical) HTML 101K
20: R6 Consolidated Statement of Changes in Stockholders' HTML 110K
Equity (Unaudited)
21: R7 Consolidated Statement of Changes in Stockholders' HTML 46K
Equity (Unaudited) (Parenthetical)
22: R8 Consolidated Statement of Cash Flows (Unaudited) HTML 179K
23: R9 Basis of Presentation, Updated Accounting Policies HTML 69K
and Accounting Changes
24: R10 Discontinued Operations and Significant Disposals HTML 59K
25: R11 Business Segments HTML 82K
26: R12 Interest Revenue and Expense HTML 74K
27: R13 Commissions and Fees; Administration and Other HTML 141K
Fiduciary Fees
28: R14 Principal Transactions HTML 61K
29: R15 Incentive Plans HTML 46K
30: R16 Retirement Benefits HTML 247K
31: R17 Earnings Per Share HTML 86K
32: R18 Securities Borrowed, Loaned and Subject to HTML 177K
Repurchase Agreements
33: R19 Brokerage Receivables and Brokerage Payables HTML 57K
34: R20 Investments HTML 556K
35: R21 Loans HTML 861K
36: R22 Allowance for Credit Losses HTML 303K
37: R23 Goodwill and Intangible Assets HTML 127K
38: R24 Debt HTML 85K
39: R25 Changes in Accumulated Other Comprehensive Income HTML 187K
(Loss) (Aoci)
40: R26 Securitizations and Variable Interest Entities HTML 369K
41: R27 Derivatives HTML 399K
42: R28 Fair Value Measurement HTML 1.27M
43: R29 Fair Value Elections HTML 132K
44: R30 Guarantees, Leases and Commitments HTML 186K
45: R31 Contingencies HTML 62K
46: R32 Condensed Consolidating Financial Statements HTML 698K
47: R33 Basis of Presentation, Updated Accounting Policies HTML 65K
and Accounting Changes (Policies)
48: R34 Discontinued Operations and Significant Disposals HTML 59K
(Tables)
49: R35 Business Segments (Tables) HTML 76K
50: R36 Interest Revenue and Expense (Tables) HTML 73K
51: R37 Commissions and Fees; Administration and Other HTML 140K
Fiduciary Fees (Tables)
52: R38 Principal Transactions (Tables) HTML 58K
53: R39 Retirement Benefits (Tables) HTML 253K
54: R40 Earnings Per Share (Tables) HTML 86K
55: R41 Securities Borrowed, Loaned and Subject to HTML 238K
Repurchase Agreements (Tables)
56: R42 Brokerage Receivables and Brokerage Payables HTML 57K
(Tables)
57: R43 Investments (Tables) HTML 557K
58: R44 Loans (Tables) HTML 872K
59: R45 Allowance for Credit Losses (Tables) HTML 307K
60: R46 Goodwill and Intangible Assets (Tables) HTML 268K
61: R47 Debt (Tables) HTML 90K
62: R48 Changes in Accumulated Other Comprehensive Income HTML 190K
(Loss) (Aoci) (Tables)
63: R49 Securitizations and Variable Interest Entities HTML 377K
(Tables)
64: R50 Derivatives (Tables) HTML 397K
65: R51 Fair Value Measurement (Tables) HTML 1.28M
66: R52 Fair Value Elections (Tables) HTML 117K
67: R53 Guarantees, Leases and Commitments (Tables) HTML 167K
68: R54 Condensed Consolidating Financial Statements HTML 699K
(Tables)
69: R55 BASIS OF PRESENTATION, UPDATED ACCOUNTING POLICIES HTML 84K
AND ACCOUNTING CHANGES - Accounting Changes
(Details)
70: R56 DISCONTINUED OPERATIONS AND SIGNIFICANT DISPOSALS HTML 60K
- Discontinued Operations (Details)
71: R57 Business Segments (Details) HTML 88K
72: R58 Interest Revenue and Expense (Details) HTML 83K
73: R59 COMMISSIONS AND FEES; ADMINISTRATION AND OTHER HTML 119K
FIDUCIARY FEES - Commissions and Fees Revenue
(Details)
74: R60 COMMISSIONS AND FEES; ADMINISTRATION AND OTHER HTML 71K
FIDUCIARY FEES - Administration and Other
Fiduciary Fees (Details)
75: R61 Principal Transactions (Details) HTML 57K
76: R62 RETIREMENT BENEFITS - Net (Benefit) Expense HTML 79K
(Details)
77: R63 RETIREMENT BENEFITS - Funded Status and HTML 166K
Accumulated Other Comprehensive Income (Details)
78: R64 RETIREMENT BENEFITS - Accumulated Other HTML 78K
Comprehensive Income (Loss) (Details)
79: R65 RETIREMENT BENEFITS - Assumptions Used (Details) HTML 73K
80: R66 RETIREMENT BENEFITS - Sensitivities of Certain Key HTML 57K
Assumptions (Details)
81: R67 RETIREMENT BENEFITS - Contributions (Details) HTML 61K
82: R68 RETIREMENT BENEFITS - Defined Contribution Plans HTML 58K
and Postemployment Plans (Details)
83: R69 Earnings Per Share (Details) HTML 175K
84: R70 SECURITIES BORROWED, LOANED AND SUBJECT TO HTML 68K
REPURCHASE AGREEMENTS - Securities (Details)
85: R71 SECURITIES BORROWED, LOANED AND SUBJECT TO HTML 126K
REPURCHASE AGREEMENTS - Offsetting (Details)
86: R72 SECURITIES BORROWED, LOANED AND SUBJECT TO HTML 89K
REPURCHASE AGREEMENTS - Repurchase Agreements
(Details)
87: R73 Brokerage Receivables and Brokerage Payables HTML 57K
(Details)
88: R74 INVESTMENTS - Overview (Details) HTML 142K
89: R75 INVESTMENTS - Fair Value of AFS Securities HTML 115K
(Details)
90: R76 INVESTMENTS - Fair Value of AFS Debt Securities by HTML 102K
Contractual Maturity Date (Details)
91: R77 INVESTMENTS - Debt Securities Held-to-Maturity HTML 95K
(Details)
92: R78 INVESTMENTS - Carrying Value and Fair Value of HTM HTML 110K
Debt Securities by Contractual Maturity Dates
(Details)
93: R79 INVESTMENTS - Recognition and Measurement of HTML 64K
Impairment (Details)
94: R80 INVESTMENTS - Schedule of Allowance for Credit HTML 76K
Losses for AFS Debt Securities (Details)
95: R81 INVESTMENTS - Carrying Value of Non-marketable HTML 64K
Equity Securities Measured Using the Measurement
Alternative (Details)
96: R82 INVESTMENTS - Alternative Investment Funds HTML 60K
(Details)
97: R83 LOANS - Consumer Loans, Delinquencies and HTML 160K
Non-Accrual Details (Details)
98: R84 LOANS - Schedule of Interest Income Recognized for HTML 64K
Non-Accrual Consumer Loans (Details)
99: R85 LOANS - Credit Quality Indicators (Details) HTML 157K
100: R86 LOANS - Impaired Consumer Loans (Details) HTML 78K
101: R87 LOANS - Consumer Troubled Debt Restructurings HTML 123K
(Details)
102: R88 LOANS - Schedule of Purchased Credit Deteriorated HTML 62K
Assets (Details)
103: R89 LOANS - Corporate Loans (Details) HTML 83K
104: R90 LOANS - Corporate Loan Delinquency (Details) HTML 92K
105: R91 LOANS - Corporate Loans Credit Quality Indicators HTML 148K
(Details)
106: R92 LOANS - Non-accrual Corporate Loans (Details) HTML 84K
107: R93 LOANS - Corporate Troubled Debt Restructurings HTML 85K
(Details)
108: R94 ALLOWANCE FOR CREDIT LOSSES - Allowance for Loan HTML 120K
Losses Roll Forward (Details)
109: R95 ALLOWANCE FOR CREDIT LOSSES - Allowance for Loan HTML 119K
Losses Roll Forward by Segment (Details)
110: R96 ALLOWANCE FOR CREDIT LOSSES - Schedule of HTML 94K
Allowance for Credit Losses for HTM Debt
Securities (Details)
111: R97 ALLOWANCE FOR CREDIT LOSSES - Schedule of HTML 83K
Allowance for Credit Losses for Other Assets
(Details)
112: R98 GOODWILL AND INTANGIBLE ASSETS - Changes in HTML 54K
Goodwill (Details)
113: R99 GOODWILL AND INTANGIBLE ASSETS - Additional HTML 49K
Information (Details)
114: R100 GOODWILL AND INTANGIBLE ASSETS - Components of HTML 88K
Intangible Assets (Details)
115: R101 GOODWILL AND INTANGIBLE ASSETS - Changes in HTML 94K
Intangible Assets (Details)
116: R102 DEBT - Short-Term Borrowings (Details) HTML 58K
117: R103 DEBT - Long-Term Debt (Details) HTML 59K
118: R104 DEBT - Trust Preferred Securities (Details) HTML 66K
119: R105 Changes in Accumulated Other Comprehensive Income HTML 90K
(Loss) (AOCI) - Change in Each Component of AOCI
(Details)
120: R106 Changes in Accumulated Other Comprehensive Income HTML 106K
(Loss) (AOCI) - Schedule of Pre-Tax and After-Tax
(Details)
121: R107 Changes in Accumulated Other Comprehensive Income HTML 111K
(Loss) (AOCI) - Reclassification out of AOCI
(Details)
122: R108 SECURITIZATIONS AND VARIABLE INTEREST ENTITIES - HTML 141K
Schedule of Variable Interest Entities (Details)
123: R109 SECURITIZATIONS AND VARIABLE INTEREST ENTITIES - HTML 70K
Funding Commitments (Details)
124: R110 SECURITIZATIONS AND VARIABLE INTEREST ENTITIES - HTML 64K
Carrying Amounts and Classifications of
Consolidated Assets (Details)
125: R111 SECURITIZATIONS AND VARIABLE INTEREST ENTITIES - HTML 64K
Credit Card Securitizations (Details)
126: R112 SECURITIZATIONS AND VARIABLE INTEREST ENTITIES - HTML 56K
Funding, Liquidity Facilities and Subordinated
Interests (Details)
127: R113 SECURITIZATIONS AND VARIABLE INTEREST ENTITIES - HTML 133K
Mortgage Securitizations (Details)
128: R114 SECURITIZATIONS AND VARIABLE INTEREST ENTITIES - HTML 63K
Loan Delinquencies and Liquidation Losses
(Details)
129: R115 SECURITIZATIONS AND VARIABLE INTEREST ENTITIES - HTML 89K
Mortgage Servicing Rights (Details)
130: R116 SECURITIZATIONS AND VARIABLE INTEREST ENTITIES - HTML 66K
Asset-Backed Commercial Paper Conduits (Details)
131: R117 SECURITIZATIONS AND VARIABLE INTEREST ENTITIES - HTML 48K
Collateralized Loan Obligations (Details)
132: R118 SECURITIZATIONS AND VARIABLE INTEREST ENTITIES - HTML 60K
Asset Based Financing (Details)
133: R119 SECURITIZATIONS AND VARIABLE INTEREST ENTITIES - HTML 55K
Municipal Securities Tender Option Bond Trusts
(Details)
134: R120 DERIVATIVES - Derivative Notionals (Details) HTML 124K
135: R121 DERIVATIVES - Derivative Mark-to-Market (MTM) HTML 175K
Receivables/Payables (Details)
136: R122 DERIVATIVES - Gains (Losses) Included in Other HTML 52K
Revenue (Details)
137: R123 DERIVATIVES - Fair Value Hedges (Details) HTML 74K
138: R124 DERIVATIVES - Cumulative Basis Adjustment HTML 66K
(Details)
139: R125 DERIVATIVES - Cash Flow Hedges (Details) HTML 71K
140: R126 DERIVATIVES - Net Investment Hedges (Details) HTML 50K
141: R127 DERIVATIVES - Credit Derivatives (Details) HTML 119K
142: R128 FAIR VALUE MEASUREMENT - Market Valuation HTML 69K
Adjustments (Details)
143: R129 FAIR VALUE MEASUREMENT - Items Measured at Fair HTML 342K
Value on a Recurring Basis (Details)
144: R130 FAIR VALUE MEASUREMENT - Level 3 Fair Value HTML 369K
Rollforward (Details)
145: R131 FAIR VALUE MEASUREMENT - Level 3 Fair Value HTML 61K
Rollforward Narrative (Details)
146: R132 FAIR VALUE MEASUREMENT - Valuation Techniques and HTML 317K
Inputs for Level 3 Fair Value Measurements
(Details)
147: R133 FAIR VALUE MEASUREMENT - Items Measured at Fair HTML 65K
Value on a Nonrecurring Basis (Details)
148: R134 FAIR VALUE MEASUREMENT - Valuation Techniques and HTML 105K
Inputs for Level 3 Nonrecurring Fair Value
Measurements (Details)
149: R135 FAIR VALUE MEASUREMENT - Estimate Fair Value of HTML 108K
Financial Instruments Not Carried at Fair Value
(Details)
150: R136 FAIR VALUE ELECTIONS - Changes in Fair Value Gains HTML 81K
(Losses) (Details)
151: R137 FAIR VALUE ELECTIONS - Valuation Adjustments, Fair HTML 90K
Value Option for Financial Assets and Financial
Liabilities (Details)
152: R138 FAIR VALUE ELECTIONS - Certain Structured and HTML 70K
Non-Structured Liabilities (Details)
153: R139 GUARANTEES, LEASES AND COMMITMENTS - Guarantees HTML 91K
(Details)
154: R140 GUARANTEES, LEASES AND COMMITMENTS - Performance HTML 96K
Risk (Details)
155: R141 GUARANTEES, LEASES AND COMMITMENTS - Leases HTML 52K
(Details)
156: R142 GUARANTEES, LEASES AND COMMITMENTS - Credit HTML 83K
Commitments and Lines of Credit (Details)
157: R143 GUARANTEES, LEASES AND COMMITMENTS - Restricted HTML 51K
Cash (Details)
158: R144 Contingencies (Details) HTML 46K
159: R145 CONDENSED CONSOLIDATING FINANCIAL STATEMENTS - HTML 214K
Condensed Consolidating Statements of Income and
Comprehensive Income (Details)
160: R146 CONDENSED CONSOLIDATING FINANCIAL STATEMENTS - HTML 204K
Condensed Consolidating Balance Sheets (Details)
161: R147 CONDENSED CONSOLIDATING FINANCIAL STATEMENTS - HTML 216K
Condensed Consolidating Statement of Cash Flows
(Details)
162: R9999 Uncategorized Items - _IXDS HTML 56K
164: XML IDEA XML File -- Filing Summary XML 322K
14: XML XBRL Instance -- c-20210331_htm XML 23.42M
163: EXCEL IDEA Workbook of Financial Reports XLSX 370K
10: EX-101.CAL XBRL Calculations -- c-20210331_cal XML 812K
11: EX-101.DEF XBRL Definitions -- c-20210331_def XML 3.00M
12: EX-101.LAB XBRL Labels -- c-20210331_lab XML 5.14M
13: EX-101.PRE XBRL Presentations -- c-20210331_pre XML 3.57M
9: EX-101.SCH XBRL Schema -- c-20210331 XSD 594K
165: JSON XBRL Instance as JSON Data -- MetaLinks 1,003± 1.63M
166: ZIP XBRL Zipped Folder -- 0000831001-21-000066-xbrl Zip 1.75M
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| c-20210331 |
| i ☒ | QUARTERLY
REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 | ||||
| i ☐ | TRANSITION
REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 | ||||
| i Delaware | i 52-1568099 | |||||||||||||
| (State or other jurisdiction of incorporation or organization) | (I.R.S. Employer Identification No.) | |||||||||||||
| i 388 Greenwich Street, | i New York | i NY | i 10013 | |||||||||||
| (Address of principal executive offices) | (Zip code) | |||||||||||||
| i Large accelerated filer | ☒ | Accelerated filer | ☐ | Non-accelerated filer | ☐ | Smaller reporting company | i ☐ | ||||||||||||||||
| Emerging growth company | i ☐ | ||||||||||||||||||||||
| OVERVIEW | |||||
| MANAGEMENT’S
DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS | |||||
Executive Summary | |||||
| Citi’s Consent Order Compliance | 5 | ||||
Summary of Selected Financial Data | |||||
| SEGMENT
AND BUSINESS—INCOME (LOSS) AND REVENUES | |||||
| SEGMENT BALANCE SHEET | |||||
Global Consumer Banking (GCB) | |||||
North America GCB | |||||
Latin
America GCB | |||||
Asia GCB | |||||
Institutional Clients Group | |||||
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 | |||||
| CITIGROUP SEGMENTS | |||||||||||||||||||||||
| Global
Consumer Banking (GCB) | Institutional Clients Group (ICG) | Corporate/ Other | |||||||||||||||||||||
•North America •Latin America(1) •Asia(2) Consisting of: •Retail banking and wealth management, including –Residential real estate –Small
business banking •Citi-branded cards in all regions •Citi retail services in North America | •Banking –Investment banking –Treasury and trade solutions –Corporate lending –Private bank •Markets and securities
services –Fixed income markets –Equity markets –Securities services | •Corporate Treasury •Operations and technology •Global staff functions and other corporate expenses •Legacy non-core assets: –Consumer loans –Certain portfolios of securities, loans and other assets •Discontinued
operations | |||||||||||||||||||||
CITIGROUP
REGIONS(3) | |||||||||||||||||||||||||||||||||||
| North America | Europe, Middle
East and Africa (EMEA) | Latin America | Asia | ||||||||||||||||||||||||||||||||
| First Quarter | ||||||||||||||||||||
| In millions of dollars, except per share amounts | 2021 | 2020(1) | % Change | |||||||||||||||||
| Net interest revenue | $ | 10,166 | $ | 11,492 | (12) | % | ||||||||||||||
| Non-interest revenue | 9,161 | 9,239 | (1) | |||||||||||||||||
| Revenues, net of interest expense | $ | 19,327 | $ | 20,731 | (7) | % | ||||||||||||||
| Operating expenses | 11,073 | 10,643 | 4 | |||||||||||||||||
| Provisions for credit losses and for benefits and claims | (2,055) | 6,960 | NM | |||||||||||||||||
| Income from continuing operations before income taxes | $ | 10,309 | $ | 3,128 | NM | |||||||||||||||
| Income taxes | 2,332 | 580 | NM | |||||||||||||||||
| Income from continuing operations | $ | 7,977 | $ | 2,548 | NM | |||||||||||||||
| Income (loss) from discontinued operations, net of taxes | (2) | (18) | 89 | % | ||||||||||||||||
| Net income before attribution of noncontrolling interests | $ | 7,975 | $ | 2,530 | NM | |||||||||||||||
| Net income attributable to noncontrolling interests | 33 | (6) | NM | |||||||||||||||||
| Citigroup’s net income | $ | 7,942 | $ | 2,536 | NM | |||||||||||||||
| Earnings per share | ||||||||||||||||||||
| Basic | ||||||||||||||||||||
| Income from continuing operations | $ | 3.64 | $ | 1.07 | NM | |||||||||||||||
| Net income | 3.64 | 1.06 | NM | |||||||||||||||||
| Diluted | ||||||||||||||||||||
| Income from continuing operations | $ | 3.62 | $ | 1.06 | NM | |||||||||||||||
| Net income | 3.62 | 1.06 | NM | |||||||||||||||||
| Dividends declared per common share | 0.51 | 0.51 | — | % | ||||||||||||||||
| Common dividends | $ | 1,074 | $ | 1,081 | (1) | % | ||||||||||||||
Preferred
dividends(2) | 292 | 291 | — | |||||||||||||||||
| Common share repurchases | 1,600 | 2,925 | (45) | |||||||||||||||||
| In millions of dollars, except per share amounts,
ratios and direct staff | First Quarter | |||||||||||||||||||
| 2021 | 2020(1) | % Change | ||||||||||||||||||
| At March 31: | ||||||||||||||||||||
| Total assets | $ | 2,314,266 | $ | 2,220,114 | 4 | % | ||||||||||||||
| Total deposits | 1,300,975 | 1,184,911 | 10 | |||||||||||||||||
| Long-term debt | 256,335 | 266,098 | (4) | |||||||||||||||||
| Citigroup common stockholders’ equity | 182,269 | 174,695 | 4 | |||||||||||||||||
| Total Citigroup stockholders’ equity | 202,549 | 192,675 | 5 | |||||||||||||||||
| Average assets | 2,316,793 | 2,080,054 | 11 | |||||||||||||||||
Direct staff (in thousands) | 211 | 201 | 5 | % | ||||||||||||||||
| Performance metrics | ||||||||||||||||||||
| Return on average assets | 1.39 | % | 0.49 | % | ||||||||||||||||
Return on average common stockholders’ equity(3) | 17.2 | 5.2 | ||||||||||||||||||
Return
on average total stockholders’ equity(3) | 16.1 | 5.3 | ||||||||||||||||||
Return on tangible common equity (RoTCE)(4) | 20.1 | 6.1 | ||||||||||||||||||
| Efficiency ratio (total operating expenses/total revenues, net) | 57.3 | 51.3 | ||||||||||||||||||
| Basel III ratios | ||||||||||||||||||||
Common Equity Tier 1 Capital(5) | 11.78 | % | 11.11 | % | ||||||||||||||||
Tier 1 Capital(5) | 13.49 | 12.54 | ||||||||||||||||||
Total
Capital(5) | 15.64 | 14.97 | ||||||||||||||||||
| Supplementary Leverage ratio | 6.96 | 5.96 | ||||||||||||||||||
| Citigroup common stockholders’ equity to assets | 7.88 | % | 7.87 | % | ||||||||||||||||
| Total Citigroup stockholders’ equity to assets | 8.75 | 8.68 | ||||||||||||||||||
Dividend payout ratio(6) | 14 | 48 | ||||||||||||||||||
Total payout ratio(7) | 35 | 178 | ||||||||||||||||||
| Book value per common share | $ | 88.18 | $ | 83.92 | 5 | % | ||||||||||||||
Tangible book value (TBV) per share(4) | 75.50 | 71.69 | 5 | |||||||||||||||||
| First Quarter | ||||||||||||||||||||
| In millions of dollars | 2021 | 2020 | % Change | |||||||||||||||||
| Income (loss) from continuing operations | ||||||||||||||||||||
| Global Consumer Banking | ||||||||||||||||||||
| North America | $ | 1,857 | $ | (916) | NM | |||||||||||||||
| Latin America | 53 | (29) | NM | |||||||||||||||||
Asia(1) | 264 | 204 | 29 | % | ||||||||||||||||
| Total | $ | 2,174 | $ | (741) | NM | |||||||||||||||
| Institutional Clients Group | ||||||||||||||||||||
| North America | $ | 2,798 | $ | 896 | NM | |||||||||||||||
| EMEA | 1,476 | 1,035 | 43 | % | ||||||||||||||||
| Latin America | 646 | 526 | 23 | |||||||||||||||||
| Asia | 1,052 | 1,169 | (10) | |||||||||||||||||
| Total | $ | 5,972 | $ | 3,626 | 65 | % | ||||||||||||||
| Corporate/Other | (169) | (337) | 50 | |||||||||||||||||
| Income from continuing operations | $ | 7,977 | $ | 2,548 | NM | |||||||||||||||
| Discontinued operations | $ | (2) | $ | (18) | 89 | % | ||||||||||||||
| Less: Net income attributable to noncontrolling interests | 33 | (6) | NM | |||||||||||||||||
| Citigroup’s net income | $ | 7,942 | $ | 2,536 | NM | |||||||||||||||
| First Quarter | ||||||||||||||||||||
| In millions of dollars | 2021 | 2020 | % Change | |||||||||||||||||
| Global Consumer Banking | ||||||||||||||||||||
| North America | $ | 4,428 | $ | 5,224 | (15) | % | ||||||||||||||
| Latin America | 1,008 | 1,199 | (16) | |||||||||||||||||
Asia(1) | 1,601 | 1,751 | (9) | |||||||||||||||||
| Total | $ | 7,037 | $ | 8,174 | (14) | % | ||||||||||||||
| Institutional Clients Group | ||||||||||||||||||||
| North America | $ | 4,898 | $ | 4,947 | (1) | % | ||||||||||||||
| EMEA | 3,713 | 3,470 | 7 | |||||||||||||||||
| Latin America | 1,136 | 1,418 | (20) | |||||||||||||||||
| Asia | 2,473 | 2,649 | (7) | |||||||||||||||||
| Total | $ | 12,220 | $ | 12,484 | (2) | % | ||||||||||||||
| Corporate/Other | 70 | 73 | (4) | |||||||||||||||||
| Total Citigroup net revenues | $ | 19,327 | $ | 20,731 | (7) | % | ||||||||||||||
| 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 | ||||||||||||
| Assets | |||||||||||||||||
| Cash and deposits with banks, net of allowance | $ | 7,403 | $ | 82,109 | $ | 235,170 | $ | — | $ | 324,682 | |||||||
| Securities borrowed and purchased under agreements to resell, net of allowance | 235 | 314,639 | 198 | — | 315,072 | ||||||||||||
| Trading account assets | 1,828 | 345,604 | 13,227 | — | 360,659 | ||||||||||||
| Investments, net of allowance | 1,239 | 129,331 | 342,389 | — | 472,959 | ||||||||||||
| Loans,
net of unearned income and allowance for credit losses on loans | 250,566 | 387,916 | 5,868 | — | 644,350 | ||||||||||||
| Other assets, net of allowance | 39,902 | 114,004 | 42,638 | — | 196,544 | ||||||||||||
Net
inter-segment liquid assets(4) | 137,666 | 402,604 | (540,270) | — | — | ||||||||||||
| Total assets | $ | 438,839 | $ | 1,776,207 | $ | 99,220 | $ | — | $ | 2,314,266 | |||||||
| Liabilities and equity | |||||||||||||||||
| Total deposits | $ | 353,423 | $ | 938,292 | $ | 9,260 | $ | — | $ | 1,300,975 | |||||||
| Securities
loaned and sold under agreements to repurchase | 2,095 | 217,071 | 2 | — | 219,168 | ||||||||||||
| Trading account liabilities | 1,208 | 177,139 | 770 | — | 179,117 | ||||||||||||
| Short-term borrowings | — | 28,078 | 4,009 | — | 32,087 | ||||||||||||
Long-term debt(3) | 1,174 | 74,804 | 16,258 | 164,099 | 256,335 | ||||||||||||
| Other liabilities, net of allowance | 19,267 | 82,471 | 21,573 | — | 123,311 | ||||||||||||
Net inter-segment funding (lending)(3) | 61,672 | 258,352 | 46,624 | (366,648) | — | ||||||||||||
| Total liabilities | $ | 438,839 | $ | 1,776,207 | $ | 98,496 | $ | (202,549) | $ | 2,110,993 | |||||||
Total stockholders’ equity(5) | — | — | 724 | 202,549 | 203,273 | ||||||||||||
| Total liabilities and equity | $ | 438,839 | $ | 1,776,207 | $ | 99,220 | $ | — | $ | 2,314,266 | |||||||
| First Quarter | ||||||||||||||||||||
| In millions of dollars, except as otherwise noted | 2021 | 2020 | % Change | |||||||||||||||||
| Net interest revenue | $ | 5,953 | $ | 7,072 | (16) | % | ||||||||||||||
| Non-interest revenue | 1,084 | 1,102 | (2) | |||||||||||||||||
| Total revenues, net of interest expense | $ | 7,037 | $ | 8,174 | (14) | % | ||||||||||||||
| Total operating expenses | $ | 4,396 | $ | 4,417 | — | % | ||||||||||||||
| Net credit losses on loans | $ | 1,580 | $ | 1,934 | (18) | % | ||||||||||||||
| Credit reserve build (release) for loans | (1,806) | 2,811 | NM | |||||||||||||||||
| Provision (release) for credit losses on unfunded lending commitments | — | (1) | 100 | |||||||||||||||||
| Provisions for benefits and claims, HTM debt securities and other assets | 35 | 20 | 75 | |||||||||||||||||
| Provisions (releases) for credit losses and for benefits and claims (PBC) | $ | (191) | $ | 4,764 | NM | |||||||||||||||
| Income (loss) from continuing operations before taxes | $ | 2,832 | $ | (1,007) | NM | |||||||||||||||
| Income taxes (benefits) | 658 | (266) | NM | |||||||||||||||||
| Income (loss) from continuing operations | $ | 2,174 | $ | (741) | NM | |||||||||||||||
| Noncontrolling interests | (3) | (1) | NM | |||||||||||||||||
| Net income (loss) | $ | 2,177 | $ | (740) | NM | |||||||||||||||
Balance Sheet data and ratios | ||||||||||||||||||||
EOP assets (in billions of dollars) | $ | 439 | $ | 403 | 9 | % | ||||||||||||||
Average
assets (in billions of dollars) | 439 | 406 | 8 | |||||||||||||||||
| Return on average assets | 2.01 | % | (0.73) | % | ||||||||||||||||
| Efficiency ratio | 62 | 54 | ||||||||||||||||||
Average
retail banking deposits (in billions of dollars) | $ | 345 | $ | 290 | 19 | |||||||||||||||
| Net credit losses as a percentage of average loans | 2.36 | % | 2.68 | % | ||||||||||||||||
| Revenue by business | ||||||||||||||||||||
| Retail banking | $ | 2,844 | $ | 3,046 | (7) | % | ||||||||||||||
Cards(1) | 4,193 | 5,128 | (18) | |||||||||||||||||
| Total | $ | 7,037 | $ | 8,174 | (14) | % | ||||||||||||||
| Income (loss) from continuing operations by business | ||||||||||||||||||||
| Retail banking | $ | 261 | $ | 127 | NM | |||||||||||||||
Cards(1) | 1,913 | (868) | NM | |||||||||||||||||
| Total | $ | 2,174 | $ | (741) | NM | |||||||||||||||
| Foreign currency (FX) translation impact | ||||||||||||||||||||
| Total revenue—as reported | $ | 7,037 | $ | 8,174 | (14) | % | ||||||||||||||
Impact
of FX translation(2) | — | 69 | ||||||||||||||||||
Total revenues—ex-FX(3) | $ | 7,037 | $ | 8,243 | (15) | % | ||||||||||||||
| Total operating expenses—as reported | $ | 4,396 | $ | 4,417 | — | % | ||||||||||||||
Impact of FX translation(2) | — | 44 | ||||||||||||||||||
Total
operating expenses—ex-FX(3) | $ | 4,396 | $ | 4,461 | (1) | % | ||||||||||||||
| Total provisions for credit losses and PBC—as reported | $ | (191) | $ | 4,764 | NM | |||||||||||||||
Impact
of FX translation(2) | — | 20 | ||||||||||||||||||
Total provisions for credit losses and PBC—ex-FX(3) | $ | (191) | $ | 4,784 | NM | |||||||||||||||
| Net income—as reported | $ | 2,177 | $ | (740) | NM | |||||||||||||||
Impact
of FX translation(2) | — | 3 | ||||||||||||||||||
Net income—ex-FX(3) | $ | 2,177 | $ | (737) | NM | |||||||||||||||
| First Quarter | ||||||||||||||||||||
| In millions of dollars, except as otherwise noted | 2021 | 2020 | % Change | |||||||||||||||||
| Net interest revenue | $ | 4,307 | $ | 5,036 | (14) | % | ||||||||||||||
| Non-interest revenue | 121 | 188 | (36) | |||||||||||||||||
| Total revenues, net of interest expense | $ | 4,428 | $ | 5,224 | (15) | % | ||||||||||||||
| Total operating expenses | $ | 2,478 | $ | 2,572 | (4) | % | ||||||||||||||
| Net credit losses on loans | $ | 950 | $ | 1,490 | (36) | % | ||||||||||||||
| Credit reserve build (release) for loans | (1,417) | 2,371 | NM | |||||||||||||||||
| Provision (release) for credit losses on unfunded lending commitments | — | (1) | 100 | |||||||||||||||||
| Provisions for benefits and claims, HTM debt securities and other assets | 2 | 5 | (60) | |||||||||||||||||
| Provisions (releases) for credit losses and for benefits and claims | $ | (465) | $ | 3,865 | NM | |||||||||||||||
| Income (loss) from continuing operations before taxes | $ | 2,415 | $ | (1,213) | NM | |||||||||||||||
| Income taxes (benefits) | 558 | (297) | NM | |||||||||||||||||
| Income (loss) from continuing operations | $ | 1,857 | $ | (916) | NM | |||||||||||||||
| Noncontrolling interests | — | — | — | % | ||||||||||||||||
| Net income (loss) | $ | 1,857 | $ | (916) | NM | |||||||||||||||
Balance
Sheet data and ratios | ||||||||||||||||||||
Average assets (in billions of dollars) | $ | 265 | $ | 246 | 8 | % | ||||||||||||||
| Return on average assets | 2.84 | % | (1.50) | % | ||||||||||||||||
| Efficiency ratio | 56 | 49 | ||||||||||||||||||
Average retail banking deposits (in billions of dollars) | $ | 197 | $ | 161 | 22 | |||||||||||||||
| Net credit losses as a percentage of average loans | 2.21 | % | 3.10 | % | ||||||||||||||||
| Revenue by business | ||||||||||||||||||||
| Retail banking | $ | 1,041 | $ | 1,130 | (8) | % | ||||||||||||||
| Citi-branded cards | 2,091 | 2,347 | (11) | |||||||||||||||||
| Citi retail services | 1,296 | 1,747 | (26) | |||||||||||||||||
| Total | $ | 4,428 | $ | 5,224 | (15) | % | ||||||||||||||
| Income (loss) from continuing operations by business | ||||||||||||||||||||
| Retail banking | $ | 3 | $ | (73) | NM | |||||||||||||||
| Citi-branded cards | 1,119 | (523) | NM | |||||||||||||||||
| Citi retail services | 735 | (320) | NM | |||||||||||||||||
| Total | $ | 1,857 | $ | (916) | NM | |||||||||||||||
| First Quarter | ||||||||||||||||||||
| In millions of dollars, except as otherwise noted | 2021 | 2020 | % Change | |||||||||||||||||
| Net interest revenue | $ | 658 | $ | 887 | (26) | % | ||||||||||||||
| Non-interest revenue | 350 | 312 | 12 | |||||||||||||||||
| Total revenues, net of interest expense | $ | 1,008 | $ | 1,199 | (16) | % | ||||||||||||||
| Total operating expenses | $ | 701 | $ | 705 | (1) | % | ||||||||||||||
| Net credit losses on loans | $ | 365 | $ | 271 | 35 | % | ||||||||||||||
| Credit reserve build (release) for loans | (163) | 256 | NM | |||||||||||||||||
| Provision for credit losses on unfunded lending commitments | — | — | — | |||||||||||||||||
| Provisions for benefits and claims, HTM debt securities and other assets | 29 | 15 | 93 | |||||||||||||||||
| Provisions for credit losses and for benefits and claims (PBC) | $ | 231 | $ | 542 | (57) | % | ||||||||||||||
| Income (loss) from continuing operations before taxes | $ | 76 | $ | (48) | NM | |||||||||||||||
| Income taxes (benefits) | 23 | (19) | NM | |||||||||||||||||
| Income (loss) from continuing operations | $ | 53 | $ | (29) | NM | |||||||||||||||
| Net income (loss) | $ | 53 | $ | (29) | NM | |||||||||||||||
Balance Sheet data and ratios | ||||||||||||||||||||
Average assets (in billions of dollars) | $ | 34 | $ | 35 | (3) | % | ||||||||||||||
| Return on average assets | 0.63 | % | (0.33) | % | ||||||||||||||||
| Efficiency ratio | 70 | 59 | ||||||||||||||||||
Average deposits (in billions of dollars) | $ | 25 | $ | 23 | 9 | |||||||||||||||
| Net credit losses as a percentage of average loans | 10.65 | % | 6.53 | % | ||||||||||||||||
| Revenue by business | ||||||||||||||||||||
| Retail banking | $ | 723 | $ | 783 | (8) | % | ||||||||||||||
| Citi-branded cards | 285 | 416 | (31) | |||||||||||||||||
| Total | $ | 1,008 | $ | 1,199 | (16) | % | ||||||||||||||
| Income (loss) from continuing operations by business | ||||||||||||||||||||
| Retail banking | $ | 41 | $ | (20) | NM | |||||||||||||||
| Citi-branded cards | 12 | (9) | NM | |||||||||||||||||
| Total | $ | 53 | $ | (29) | NM | |||||||||||||||
| FX translation impact | ||||||||||||||||||||
| Total revenues—as reported | $ | 1,008 | $ | 1,199 | (16) | % | ||||||||||||||
Impact of FX translation(1) | — | 2 | ||||||||||||||||||
Total
revenues—ex-FX(2) | $ | 1,008 | $ | 1,201 | (16) | % | ||||||||||||||
| Total operating expenses—as reported | $ | 701 | $ | 705 | (1) | % | ||||||||||||||
Impact
of FX translation(1) | — | 1 | ||||||||||||||||||
Total operating expenses—ex-FX(2) | $ | 701 | $ | 706 | (1) | % | ||||||||||||||
| Provisions for credit losses and PBC—as reported | $ | 231 | $ | 542 | (57) | % | ||||||||||||||
Impact of FX translation(1) | — | 1 | ||||||||||||||||||
Provisions
for credit losses and PBC—ex-FX(2) | $ | 231 | $ | 543 | (57) | % | ||||||||||||||
| Net income (loss)—as reported | $ | 53 | $ | (29) | NM | |||||||||||||||
Impact
of FX translation(1) | — | — | ||||||||||||||||||
Net income (loss)—ex-FX(2) | $ | 53 | $ | (29) | NM | |||||||||||||||
| First Quarter | ||||||||||||||||||||
In millions of dollars, except as otherwise noted(1) | 2021 | 2020 | % Change | |||||||||||||||||
| Net interest revenue | $ | 988 | $ | 1,149 | (14) | % | ||||||||||||||
| Non-interest revenue | 613 | 602 | 2 | |||||||||||||||||
| Total revenues, net of interest expense | $ | 1,601 | $ | 1,751 | (9) | % | ||||||||||||||
| Total operating expenses | $ | 1,217 | $ | 1,140 | 7 | % | ||||||||||||||
| Net credit losses on loans | $ | 265 | $ | 173 | 53 | % | ||||||||||||||
| Credit reserve build (release) for loans | (226) | 184 | NM | |||||||||||||||||
| Provisions for HTM debt securities and other assets | 4 | — | 100 | |||||||||||||||||
| Provisions for credit losses | $ | 43 | $ | 357 | (88) | % | ||||||||||||||
| Income from continuing operations before taxes | $ | 341 | $ | 254 | 34 | % | ||||||||||||||
| Income taxes | 77 | 50 | 54 | |||||||||||||||||
| Income from continuing operations | $ | 264 | $ | 204 | 29 | % | ||||||||||||||
| Noncontrolling interests | (3) | (1) | NM | |||||||||||||||||
| Net income | $ | 267 | $ | 205 | 30 | % | ||||||||||||||
Balance
Sheet data and ratios | ||||||||||||||||||||
Average assets (in billions of dollars) | $ | 140 | $ | 125 | 12 | % | ||||||||||||||
| Return on average assets | 0.77 | % | 0.66 | % | ||||||||||||||||
| Efficiency ratio | 76 | 65 | ||||||||||||||||||
Average deposits (in billions of dollars) | $ | 124 | $ | 106 | 17 | |||||||||||||||
| Net credit losses as a percentage of average loans | 1.29 | % | 0.87 | % | ||||||||||||||||
| Revenue by business | ||||||||||||||||||||
| Retail banking | $ | 1,080 | $ | 1,133 | (5) | % | ||||||||||||||
| Citi-branded cards | 521 | 618 | (16) | |||||||||||||||||
| Total | $ | 1,601 | $ | 1,751 | (9) | % | ||||||||||||||
| Income (loss) from continuing operations by business | ||||||||||||||||||||
| Retail banking | $ | 217 | $ | 220 | (1) | % | ||||||||||||||
| Citi-branded cards | 47 | (16) | NM | |||||||||||||||||
| Total | $ | 264 | $ | 204 | 29 | % | ||||||||||||||
| FX translation impact | ||||||||||||||||||||
| Total revenues—as reported | $ | 1,601 | $ | 1,751 | (9) | % | ||||||||||||||
Impact of FX translation(2) | — | 67 | ||||||||||||||||||
Total
revenues—ex-FX(3) | $ | 1,601 | $ | 1,818 | (12) | % | ||||||||||||||
| Total operating expenses—as reported | $ | 1,217 | $ | 1,140 | 7 | % | ||||||||||||||
Impact
of FX translation(2) | — | 43 | ||||||||||||||||||
Total operating expenses—ex-FX(3) | $ | 1,217 | $ | 1,183 | 3 | % | ||||||||||||||
| Provisions for credit losses—as reported | $ | 43 | $ | 357 | (88) | % | ||||||||||||||
Impact of FX translation(2) | — | 19 | ||||||||||||||||||
Provisions for
credit losses—ex-FX(3) | $ | 43 | $ | 376 | (89) | % | ||||||||||||||
| Net income—as reported | $ | 267 | $ | 205 | 30 | % | ||||||||||||||
Impact
of FX translation(2) | — | 3 | ||||||||||||||||||
Net income—ex-FX(3) | $ | 267 | $ | 208 | 28 | % | ||||||||||||||
| First Quarter | ||||||||||||||||||||
| In millions of dollars, except as otherwise noted | 2021 | 2020 | % Change | |||||||||||||||||
| Commissions and fees | $ | 1,252 | $ | 1,222 | 2 | % | ||||||||||||||
| Administration and other fiduciary fees | 814 | 691 | 18 | |||||||||||||||||
| Investment banking | 1,800 | 1,231 | 46 | |||||||||||||||||
| Principal transactions | 3,842 | 5,359 | (28) | |||||||||||||||||
| Other | 360 | (114) | NM | |||||||||||||||||
| Total non-interest revenue | $ | 8,068 | $ | 8,389 | (4) | % | ||||||||||||||
| Net interest revenue (including dividends) | 4,152 | 4,095 | 1 | |||||||||||||||||
| Total revenues, net of interest expense | $ | 12,220 | $ | 12,484 | (2) | % | ||||||||||||||
| Total operating expenses | $ | 6,264 | $ | 5,810 | 8 | % | ||||||||||||||
| Net credit losses on loans | $ | 186 | $ | 127 | 46 | % | ||||||||||||||
| Credit reserve build (release) for loans | (1,312) | 1,316 | NM | |||||||||||||||||
| Provision (release) for credit losses on unfunded lending commitments | (621) | 553 | NM | |||||||||||||||||
| Provisions (releases) for credit losses on HTM debt securities and other assets | (5) | 8 | NM | |||||||||||||||||
| Provisions (releases) for credit losses | $ | (1,752) | $ | 2,004 | NM | |||||||||||||||
| Income from continuing operations before taxes | $ | 7,708 | $ | 4,670 | 65 | % | ||||||||||||||
| Income taxes | 1,736 | 1,044 | 66 | |||||||||||||||||
| Income from continuing operations | $ | 5,972 | $ | 3,626 | 65 | % | ||||||||||||||
| Noncontrolling interests | 37 | (1) | NM | |||||||||||||||||
| Net income | $ | 5,935 | $ | 3,627 | 64 | % | ||||||||||||||
Balance
Sheet data and ratios (in billions of dollars) | ||||||||||||||||||||
EOP assets (in billions of dollars) | $ | 1,776 | $ | 1,723 | 3 | % | ||||||||||||||
Average assets (in
billions of dollars) | 1,787 | 1,580 | 13 | |||||||||||||||||
| Return on average assets | 1.35 | % | 0.92 | % | ||||||||||||||||
| Efficiency ratio | 51 | 47 | ||||||||||||||||||
| Revenues by region | ||||||||||||||||||||
| North America | $ | 4,898 | $ | 4,947 | (1) | % | ||||||||||||||
| EMEA | 3,713 | 3,470 | 7 | |||||||||||||||||
| Latin America | 1,136 | 1,418 | (20) | |||||||||||||||||
| Asia | 2,473 | 2,649 | (7) | |||||||||||||||||
| Total | $ | 12,220 | $ | 12,484 | (2) | % | ||||||||||||||
| Income from continuing operations by region | ||||||||||||||||||||
| North America | $ | 2,798 | $ | 896 | NM | |||||||||||||||
| EMEA | 1,476 | 1,035 | 43 | % | ||||||||||||||||
| Latin America | 646 | 526 | 23 | |||||||||||||||||
| Asia | 1,052 | 1,169 | (10) | |||||||||||||||||
| Total | $ | 5,972 | $ | 3,626 | 65 | % | ||||||||||||||
Average
loans by region (in billions of dollars) | ||||||||||||||||||||
| North America | $ | 195 | $ | 196 | (1) | % | ||||||||||||||
| EMEA | 89 | 88 | 1 | |||||||||||||||||
| Latin America | 32 | 38 | (16) | |||||||||||||||||
| Asia | 71 | 73 | (3) | |||||||||||||||||
| Total | $ | 387 | $ | 395 | (2) | % | ||||||||||||||
EOP
deposits by business (in billions of dollars) | ||||||||||||||||||||
| Treasury and trade solutions | $ | 649 | $ | 622 | 4 | % | ||||||||||||||
All other ICG businesses | 289 | 256 | 13 | |||||||||||||||||
| Total | $ | 938 | $ | 878 | 7 | % | ||||||||||||||
| First Quarter | ||||||||||||||||||||
| In millions of dollars | 2021 | 2020 | % Change | |||||||||||||||||
Investment
banking revenue details | ||||||||||||||||||||
| Advisory | $ | 281 | $ | 386 | (27) | % | ||||||||||||||
| Equity underwriting | 876 | 180 | NM | |||||||||||||||||
| Debt underwriting | 816 | 788 | 4 | |||||||||||||||||
| Total investment banking | $ | 1,973 | $ | 1,354 | 46 | % | ||||||||||||||
| Treasury and trade solutions | 2,165 | 2,423 | (11) | |||||||||||||||||
Corporate lending—excluding gains (losses) on loan hedges(1) | 483 | 448 | 8 | |||||||||||||||||
Private bank—excluding
gains (losses) on loan hedges(1) | 1,027 | 949 | 8 | |||||||||||||||||
Total Banking revenues (ex-gains (losses) on loan hedges) | $ | 5,648 | $ | 5,174 | 9 | % | ||||||||||||||
Gains
(losses) on loan hedges(1) | $ | (81) | $ | 816 | NM | |||||||||||||||
Total Banking revenues (including gains (losses) on loan hedges), net of interest expense | $ | 5,567 | $ | 5,990 | (7) | % | ||||||||||||||
| Fixed income markets | $ | 4,550 | $ | 4,786 | (5) | % | ||||||||||||||
| Equity markets | 1,476 | 1,169 | 26 | |||||||||||||||||
| Securities services | 653 | 645 | 1 | |||||||||||||||||
| Other | (26) | (106) | 75 | |||||||||||||||||
Total
Markets and securities services revenues, net of interest expense | $ | 6,653 | $ | 6,494 | 2 | % | ||||||||||||||
| Total revenues, net of interest expense | $ | 12,220 | $ | 12,484 | (2) | % | ||||||||||||||
| Commissions and fees | $ | 200 | $ | 189 | 6 | % | ||||||||||||||
Principal transactions(2) | 2,930 | 3,549 | (17) | |||||||||||||||||
| Other | 356 | (63) | NM | |||||||||||||||||
| Total non-interest revenue | $ | 3,486 | $ | 3,675 | (5) | % | ||||||||||||||
| Net interest revenue | 1,064 | 1,111 | (4) | |||||||||||||||||
Total fixed income
markets(3) | $ | 4,550 | $ | 4,786 | (5) | % | ||||||||||||||
| Rates and currencies | $ | 3,039 | $ | 4,034 | (25) | % | ||||||||||||||
| Spread products/other fixed income | 1,511 | 752 | NM | |||||||||||||||||
| Total fixed income markets | $ | 4,550 | $ | 4,786 | (5) | % | ||||||||||||||
| Commissions and fees | $ | 392 | $ | 362 | 8 | % | ||||||||||||||
Principal
transactions(2) | 835 | 774 | 8 | |||||||||||||||||
| Other | 32 | 8 | NM | |||||||||||||||||
| Total non-interest revenue | $ | 1,259 | $ | 1,144 | 10 | % | ||||||||||||||
| Net interest revenue | 217 | 25 | NM | |||||||||||||||||
Total equity markets(3) | $ | 1,476 | $ | 1,169 | 26 | % | ||||||||||||||
| First Quarter | ||||||||||||||||||||
| In millions of dollars | 2021 | 2020 | % Change | |||||||||||||||||
| Net interest revenue | $ | 61 | $ | 325 | (81) | % | ||||||||||||||
| Non-interest revenue | 9 | (252) | NM | |||||||||||||||||
| Total revenues, net of interest expense | $ | 70 | $ | 73 | (4) | % | ||||||||||||||
| Total operating expenses | $ | 413 | $ | 416 | (1) | % | ||||||||||||||
| Net credit losses (recoveries) on loans | $ | (18) | $ | (2) | NM | |||||||||||||||
| Credit reserve build (release) for loans | (109) | 191 | NM | |||||||||||||||||
| Provision (release) for credit losses on unfunded lending commitments | (5) | 5 | NM | |||||||||||||||||
| Provisions (releases) for benefits and claims, HTM debt securities and other assets | 20 | (2) | NM | |||||||||||||||||
| Provisions (release) for credit losses and for benefits and claims | $ | (112) | $ | 192 | NM | |||||||||||||||
| Income (loss) from continuing operations before taxes | $ | (231) | $ | (535) | 57 | % | ||||||||||||||
| Income taxes (benefits) | (62) | (198) | 69 | |||||||||||||||||
| Income (loss) from continuing operations | $ | (169) | $ | (337) | 50 | % | ||||||||||||||
| Income (loss) from discontinued operations, net of taxes | (2) | (18) | 89 | |||||||||||||||||
| Net income (loss) before attribution of noncontrolling interests | $ | (171) | $ | (355) | 52 | % | ||||||||||||||
| Noncontrolling interests | (1) | (4) | 75 | |||||||||||||||||
| Net income (loss) | $ | (170) | $ | (351) | 52 | % | ||||||||||||||
| Advanced Approaches | Standardized Approach | ||||||||||||||||
In millions of dollars, except ratios | Effective Minimum
Requirement(1) | March 31, 2021 | December 31, 2020 | March 31, 2021 | December 31, 2020 | ||||||||||||
Common Equity Tier 1 Capital(2) | $ | 148,944 | $ | 147,274 | $ | 148,944 | $ | 147,274 | |||||||||
Tier
1 Capital | 170,484 | 167,053 | 170,484 | 167,053 | |||||||||||||
Total Capital (Tier 1 Capital + Tier 2 Capital)(2) | 197,700 | 195,959 | 206,971 | 204,849 | |||||||||||||
Total
Risk-Weighted Assets | 1,263,926 | 1,255,284 | 1,260,080 | 1,221,576 | |||||||||||||
Credit Risk(2) | $ | 845,718 | $ | 844,374 | $ | 1,143,975 | $ | 1,109,435 | |||||||||
Market
Risk | 112,592 | 107,812 | 116,105 | 112,141 | |||||||||||||
Operational Risk | 305,616 | 303,098 | — | — | |||||||||||||
Common
Equity Tier 1 Capital ratio(3) | 10.0 | % | 11.78 | % | 11.73 | % | 11.82 | % | 12.06 | % | |||||||
Tier 1 Capital ratio(3) | 11.5 | 13.49 | 13.31 | 13.53 | 13.68 | ||||||||||||
Total
Capital ratio(3) | 13.5 | 15.64 | 15.61 | 16.43 | 16.77 | ||||||||||||
In millions of dollars, except ratios | Effective Minimum Requirement | March 31, 2021 | December 31, 2020 | ||||||||
Quarterly Adjusted Average Total Assets(2)(4) | $ | 2,282,935 | $ | 2,265,615 | |||||||
Total Leverage Exposure(2)(5) | 2,450,412 | 2,386,881 | |||||||||
Tier
1 Leverage ratio | 4.0 | % | 7.47 | % | 7.37 | % | |||||
Supplementary Leverage ratio | 5.0 | 6.96 | 7.00 | ||||||||
In millions of dollars | March 31, 2021 | December
31, 2020 | ||||||
Common Equity Tier 1 Capital | ||||||||
Citigroup common stockholders’ equity(1) | $ | 182,402 | $ | 180,118 | ||||
Add: Qualifying noncontrolling interests | 132 | 141 | ||||||
Regulatory
capital adjustments and deductions: | ||||||||
Add: CECL transition and 25% provision deferral(2) | 4,359 | 5,348 | ||||||
Less: Accumulated net unrealized gains (losses) on cash flow hedges, net of tax | 1,037 | 1,593 | ||||||
Less: Cumulative unrealized net gain (loss) related to changes in fair value of financial
liabilities attributable to own creditworthiness, net of tax | (1,172) | (1,109) | ||||||
Less: Intangible assets: | ||||||||
Goodwill, net of related DTLs(3) | 20,854 | 21,124 | ||||||
Identifiable intangible assets other than MSRs, net of related DTLs | 4,054 | 4,166 | ||||||
Less:
Defined benefit pension plan net assets | 1,485 | 921 | ||||||
Less: DTAs arising from net operating loss, foreign tax credit and general business credit carry-forwards(4) | 11,691 | 11,638 | ||||||
Total Common Equity Tier 1 Capital (Advanced Approaches and Standardized Approach) | $ | 148,944 | $ | 147,274 | ||||
Additional
Tier 1 Capital | ||||||||
Qualifying noncumulative perpetual preferred stock(1) | $ | 20,147 | $ | 19,324 | ||||
Qualifying trust preferred securities(5) | 1,395 | 1,393 | ||||||
Qualifying noncontrolling interests | 33 | 35 | ||||||
Regulatory
capital deductions: | ||||||||
Less: Permitted ownership interests in covered funds(6) | — | 917 | ||||||
Less: Other | 35 | 56 | ||||||
Total Additional Tier 1 Capital (Advanced Approaches and Standardized Approach) | $ | 21,540 | $ | 19,779 | ||||
Total
Tier 1 Capital (Common Equity Tier 1 Capital + Additional Tier 1 Capital) (Advanced Approaches and Standardized Approach) | $ | 170,484 | $ | 167,053 | ||||
Tier 2 Capital | ||||||||
Qualifying subordinated debt | $ | 21,890 | $ | 23,481 | ||||
Qualifying
trust preferred securities(7) | 248 | 331 | ||||||
Qualifying noncontrolling interests | 39 | 41 | ||||||
Excess of eligible credit reserves over expected credit losses(2)(8) | 5,081 | 5,084 | ||||||
Regulatory
capital deduction: | ||||||||
Less: Other | 42 | 31 | ||||||
Total Tier 2 Capital (Advanced Approaches) | $ | 27,216 | $ | 28,906 | ||||
Total Capital (Tier 1 Capital + Tier 2 Capital) (Advanced Approaches) | $ | 197,700 | $ | 195,959 | ||||
Adjustment
for eligible allowance for credit losses(2)(8) | $ | 9,271 | $ | 8,890 | ||||
Total Tier 2 Capital (Standardized Approach) | $ | 36,487 | $ | 37,796 | ||||
Total Capital (Tier 1 Capital + Tier 2 Capital) (Standardized Approach) | $ | 206,971 | $ | 204,849 | ||||
In millions of dollars | Three Months Ended March 31, 2021 | ||||
Common Equity Tier 1 Capital, beginning of period | $ | 147,274 | |||
Net
income | 7,942 | ||||
Common and preferred dividends declared | (1,366) | ||||
Net increase in treasury stock | (1,132) | ||||
Net decrease in common stock and additional paid-in capital | (175) | ||||
Net change in foreign currency translation adjustment net of hedges, net of tax | (1,274) | ||||
Net
increase in unrealized gains (losses) on debt securities AFS, net of tax | (1,785) | ||||
Net decrease in defined benefit plans liability adjustment, net of tax | 714 | ||||
Net change in adjustment related to change in fair value of financial liabilities attributable to own creditworthiness, net of tax | 21 | ||||
Net increase in excluded component of fair value hedges | (10) | ||||
Net
decrease in goodwill, net of related DTLs | 270 | ||||
Net decrease in identifiable intangible assets other than MSRs, net of related DTLs | 112 | ||||
Net increase in defined benefit pension plan net assets | (564) | ||||
Net increase in DTAs arising from net operating loss, foreign tax credit and general business credit carry-forwards | (53) | ||||
Net
decrease in CECL 25% provision deferral | (989) | ||||
Other | (41) | ||||
Net increase in Common Equity Tier 1 Capital | $ | 1,670 | |||
Common Equity Tier 1 Capital, end of period (Advanced Approaches and Standardized Approach) | $ | 148,944 | |||
Additional
Tier 1 Capital, beginning of period | $ | 19,779 | |||
Net increase in qualifying perpetual preferred stock | 823 | ||||
Net increase in qualifying trust preferred securities | 2 | ||||
Net decrease in permitted ownership interests in covered funds | 917 | ||||
Other | 19 | ||||
Net
increase in Additional Tier 1 Capital | $ | 1,761 | |||
Tier 1 Capital, end of period (Advanced Approaches and Standardized Approach) | $ | 170,484 | |||
Tier 2 Capital, beginning of period (Advanced Approaches) | $ | 28,906 | |||
Net decrease in qualifying subordinated debt | (1,591) | ||||
Net
decrease in excess of eligible credit reserves over expected credit losses | (3) | ||||
Other | (96) | ||||
Net decrease in Tier 2 Capital (Advanced Approaches) | $ | (1,690) | |||
Tier 2 Capital, end of period (Advanced Approaches) | $ | 27,216 | |||
Total Capital, end of period (Advanced Approaches) | $ | 197,700 | |||
Tier
2 Capital, beginning of period (Standardized Approach) | $ | 37,796 | |||
Net decrease in qualifying subordinated debt | (1,591) | ||||
Net increase in eligible allowance for credit losses | 378 | ||||
Other | (96) | ||||
Net decrease in Tier 2 Capital (Standardized Approach) | $ | (1,309) | |||
Tier
2 Capital, end of period (Standardized Approach) | $ | 36,487 | |||
Total Capital, end of period (Standardized Approach) | $ | 206,971 | |||
In
millions of dollars | Three Months Ended March 31, 2021 | ||||
| Total Risk-Weighted Assets, beginning of period | $ | 1,255,284 | |||
Changes in Credit Risk-Weighted Assets | |||||
Retail exposures(1) | (10,755) | ||||
Wholesale exposures(2) | 9,420 | ||||
Repo-style
transactions | (2,786) | ||||
Securitization exposures(3) | 3,729 | ||||
Equity exposures | (586) | ||||
Over-the-counter (OTC) derivatives(4) | 7,824 | ||||
Derivatives CVA(5) | (7,779) | ||||
Other
exposures(6) | 1,866 | ||||
Supervisory 6% multiplier | 411 | ||||
Net increase in Credit Risk-Weighted Assets | $ | 1,344 | |||
Changes in Market Risk-Weighted Assets | |||||
Risk levels(7) | $ | 4,222 | |||
| Model and methodology updates | 558 | ||||
Net increase in Market Risk-Weighted Assets | $ | 4,780 | |||
Net change in Operational Risk-Weighted Assets(8) | $ | 2,518 | |||
Total Risk-Weighted Assets, end of period | $ | 1,263,926 | |||
In millions of dollars | Three Months Ended March 31, 2021 | ||||
| Total Risk-Weighted Assets, beginning of period | $ | 1,221,576 | |||
Changes in Credit Risk-Weighted Assets | |||||
General credit risk exposures(1) | (12,940) | ||||
Repo-style transactions(2) | 3,038 | ||||
Securitization exposures(3) | 3,647 | ||||
Equity
exposures | (579) | ||||
Over-the-counter (OTC) derivatives(4) | 19,628 | ||||
Other exposures(5) | 11,306 | ||||
Off-balance sheet exposures(6) | 10,440 | ||||
Net change in Credit Risk-Weighted Assets | $ | 34,540 | |||
Changes
in Market Risk-Weighted Assets | |||||
Risk levels(7) | $ | 3,406 | |||
| Model and methodology updates | 558 | ||||
Net increase in Market Risk-Weighted Assets | $ | 3,964 | |||
Total Risk-Weighted Assets, end of period | $ | 1,260,080 | |||
| In millions of dollars, except ratios | March 31, 2021 | December 31, 2020 | ||||||
| Tier 1 Capital | $ | 170,484 | $ | 167,053 | ||||
| Total Leverage Exposure | ||||||||
On-balance sheet assets(1)(2)(3) | $ | 1,906,422 | $ | 1,864,374 | ||||
Certain
off-balance sheet exposures:(4) | ||||||||
| Potential future exposure on derivative contracts | 201,735 | 183,604 | ||||||
Effective notional of sold credit derivatives, net(5) | 27,164 | 32,640 | ||||||
Counterparty credit risk for repo-style
transactions(6) | 21,805 | 20,168 | ||||||
| Unconditionally cancellable commitments | 71,293 | 71,163 | ||||||
| Other off-balance sheet exposures | 260,112 | 253,754 | ||||||
| Total of certain off-balance sheet exposures | $ | 582,109 | $ | 561,329 | ||||
| Less: Tier 1 Capital deductions | 38,119 | 38,822 | ||||||
Total Leverage Exposure(3) | $ | 2,450,412 | $ | 2,386,881 | ||||
| Supplementary Leverage ratio | 6.96 | % | 7.00 | % | ||||
| Advanced Approaches | Standardized Approach | ||||||||||||||||
In millions of dollars, except ratios | Effective Minimum Requirement(1) | March 31, 2021 | December 31, 2020 | March 31, 2021 | December 31, 2020 | ||||||||||||
Common Equity Tier 1 Capital(2) | $ | 146,359 | $ | 142,854 | $ | 146,359 | $ | 142,854 | |||||||||
Tier
1 Capital | 148,487 | 144,962 | 148,487 | 144,962 | |||||||||||||
Total Capital (Tier 1 Capital + Tier 2 Capital)(2)(3) | 164,921 | 161,319 | 173,212 | 169,303 | |||||||||||||
Total
Risk-Weighted Assets(4) | 1,043,858 | 1,021,479 | 1,069,933 | 1,038,031 | |||||||||||||
Credit Risk(2) | $ | 731,159 | $ | 716,513 | $ | 1,011,308 | $ | 977,366 | |||||||||
Market
Risk | 57,808 | 59,815 | 58,625 | 60,665 | |||||||||||||
Operational Risk | 254,891 | 245,151 | — | — | |||||||||||||
Common Equity
Tier 1 Capital ratio(4)(5) | 7.0 | % | 14.02 | % | 13.99 | % | 13.68 | % | 13.76 | % | |||||||
Tier 1 Capital ratio(4)(5) | 8.5 | 14.22 | 14.19 | 13.88 | 13.97 | ||||||||||||
Total
Capital ratio(4)(5) | 10.5 | 15.80 | 15.79 | 16.19 | 16.31 | ||||||||||||
In millions of dollars, except ratios | Effective Minimum Requirement | March 31, 2021 | December 31, 2020 | ||||||||
Quarterly Adjusted Average Total Assets(2)(6) | $ | 1,665,791 | $ | 1,680,026 | |||||||
Total Leverage Exposure(2)(7) | 2,182,668 | 2,180,821 | |||||||||
Tier
1 Leverage ratio(5) | 5.0 | % | 8.91 | % | 8.63 | % | |||||
Supplementary Leverage ratio(5) | 6.0 | 6.80 | 6.65 | ||||||||
Common
Equity Tier 1 Capital ratio | Tier 1 Capital ratio | Total Capital ratio | ||||||||||||||||||
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 | ||||||||||||||||||||
Advanced
Approaches | 0.8 | 0.9 | 0.8 | 1.1 | 0.8 | 1.2 | ||||||||||||||
Standardized Approach | 0.8 | 0.9 | 0.8 | 1.1 | 0.8 | 1.3 | ||||||||||||||
Citibank | ||||||||||||||||||||
Advanced
Approaches | 1.0 | 1.3 | 1.0 | 1.4 | 1.0 | 1.5 | ||||||||||||||
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 | 0.4 | 0.3 | ||||||||||
Citibank | 0.6 | 0.5 | 0.5 | 0.3 | ||||||||||
| March 31, 2021 | ||||||||
| In billions of dollars, except ratios | External TLAC | LTD | ||||||
| Total eligible amount | $ | 313 | $ | 138 | ||||
| %
of Advanced Approaches risk- weighted assets | 24.8 | % | 10.9 | % | ||||
Effective minimum requirement(1)(2) | 22.5 | % | 9.0 | % | ||||
| Surplus amount | $ | 29 | $ | 24 | ||||
%
of Total Leverage Exposure(3) | 12.8 | % | 5.6 | % | ||||
| Effective minimum requirement | 9.5 | % | 4.5 | % | ||||
| Surplus amount | $ | 81 | $ | 28 | ||||
| Citigroup | Citibank | |||||||||||||||||||
| Effective Minimum Requirement | Advanced Approaches | Standardized Approach | Effective Minimum Requirement | Advanced Approaches | Standardized Approach | |||||||||||||||
Common Equity Tier 1 Capital ratio | 10.0 | % | 11.46 | % | 11.50 | % | 7.0 | % | 13.67 | % | 13.33 | % | ||||||||
Tier
1 Capital ratio | 11.5 | 13.17 | 13.21 | 8.5 | 13.87 | 13.53 | ||||||||||||||
| Total Capital ratio | 13.5 | 15.33 | 16.12 | 10.5 | 15.45 | 15.85 | ||||||||||||||
| Effective Minimum Requirement | Citigroup | Effective Minimum Requirement | Citibank | |||||||||||||||||
Tier 1 Leverage ratio | 4.0 | % | 7.29 | % | 5.0 | % | 8.69 | % | ||||||||||||
Supplementary Leverage ratio(1) | 5.0 | 5.80 | 6.0 | 6.63 | ||||||||||||||||
In
millions of dollars or shares, except per share amounts | March 31, 2021 | December 31, 2020 | ||||||
Total Citigroup stockholders’ equity | $ | 202,549 | $ | 199,442 | ||||
Less: Preferred stock | 20,280 | 19,480 | ||||||
Common
stockholders’ equity | $ | 182,269 | $ | 179,962 | ||||
Less: | ||||||||
Goodwill | 21,905 | 22,162 | ||||||
Identifiable intangible assets (other than MSRs) | 4,308 | 4,411 | ||||||
Tangible
common equity (TCE) | $ | 156,056 | $ | 153,389 | ||||
Common shares outstanding (CSO) | 2,067.0 | 2,082.1 | ||||||
Book value per share (common equity/CSO) | $ | 88.18 | $ | 86.43 | ||||
Tangible
book value per share (TCE/CSO) | 75.50 | 73.67 | ||||||
| Three Months Ended March 31, | ||||||||||||||
In millions of dollars | 2021 | 2020 | ||||||||||||
Net
income available to common shareholders | $ | 7,650 | $ | 2,245 | ||||||||||
Average common stockholders’ equity | 180,421 | 174,468 | ||||||||||||
Average TCE | 154,723 | 149,024 | ||||||||||||
Return
on average common stockholders’ equity | 17.2 | % | 5.2 | % | ||||||||||
Return on average TCE (RoTCE)(1) | 20.1 | 6.1 | ||||||||||||
| MANAGING GLOBAL RISK | ||||||||
CREDIT RISK(1) | ||||||||
| Consumer Credit | ||||||||
| Corporate Credit | ||||||||
| Additional Consumer and Corporate Credit Details | ||||||||
Loans Outstanding | ||||||||
Details of Credit Loss Experience | ||||||||
| Allowance for Credit Losses on Loans (ACLL) | 52 | |||||||
| Non-Accrual Loans and Assets and Renegotiated Loans | ||||||||
| LIQUIDITY RISK | ||||||||
| High-Quality Liquid Assets (HQLA) | ||||||||
| Liquidity Coverage Ratio (LCR) | ||||||||
| Loans | 58 | |||||||
| Deposits | 58 | |||||||
| Long-Term Debt | 59 | |||||||
| Secured Funding Transactions and Short-Term Borrowings | 61 | |||||||
| Credit Ratings | 62 | |||||||
MARKET
RISK(1) | ||||||||
| Market Risk of Non-Trading Portfolios | ||||||||
| Market Risk of Trading Portfolios | ||||||||
| STRATEGIC RISK | ||||||||
| LIBOR Transition Risk | ||||||||
| Country Risk | ||||||||
| Argentina | ||||||||
| In billions of dollars | 1Q’20 | 2Q’20 | 3Q’20 | 4Q’20 | 1Q’21 | |||||||||||||||
| Retail banking: | ||||||||||||||||||||
| Mortgages | $ | 83.6 | $ | 86.0 | $ | 87.5 | $ | 88.9 | $ | 86.7 | ||||||||||
| Personal, small business and other | 36.6 | 37.6 | 38.3 | 40.1 | 39.1 | |||||||||||||||
| Total retail banking | $ | 120.2 | $ | 123.6 | $ | 125.8 | $ | 129.0 | $ | 125.8 | ||||||||||
| Cards: | ||||||||||||||||||||
| Citi-branded cards | $ | 110.2 | $ | 103.6 | $ | 102.2 | $ | 106.7 | $ | 99.6 | ||||||||||
| Citi retail services | 48.9 | 45.4 | 44.4 | 46.4 | 42.5 | |||||||||||||||
| Total cards | $ | 159.1 | $ | 149.0 | $ | 146.6 | $ | 153.1 | $ | 142.1 | ||||||||||
Total GCB | $ | 279.3 | $ | 272.6 | $ | 272.4 | $ | 282.1 | $ | 267.9 | ||||||||||
GCB
regional distribution: | ||||||||||||||||||||
| North America | 67 | % | 66 | % | 66 | % | 65 | % | 64 | % | ||||||||||
| Latin America | 5 | 5 | 5 | 5 | 5 | |||||||||||||||
Asia(2) | 28 | 29 | 29 | 30 | 31 | |||||||||||||||
Total
GCB | 100 | % | 100 | % | 100 | % | 100 | % | 100 | % | ||||||||||
Corporate/Other(3) | $ | 9.1 | $ | 8.5 | $ | 7.6 | $ | 6.7 | $ | 6.1 | ||||||||||
| Total consumer loans | $ | 288.4 | $ | 281.1 | $ | 280.0 | $ | 288.8 | $ | 274.0 | ||||||||||
| Global Consumer Banking | ||
| North America GCB | ||
| Latin America GCB | ||
Asia(1)
GCB | ||
| Global Cards | ||
| North America Citi-Branded Cards | ||
| North America Citi Retail Services | ||
| Latin America Citi-Branded Cards | ||
Asia Citi-Branded Cards(1) | ||
FICO
distribution(1) | March 31, 2021 | December 31, 2020 | March 31, 2020 | ||||||||
| > 760 | 46 | % | 46 | % | 39 | % | |||||
| 680–760 | 40 | 39 | 42 | ||||||||
| < 680 | 14 | 15 | 19 | ||||||||
| Total | 100 | % | 100 | % | 100 | % | |||||
FICO
distribution(1) | March 31, 2021 | December 31, 2020 | March 31, 2020 | ||||||||
| > 760 | 26 | % | 27 | % | 23 | % | |||||
| 680–760 | 45 | 44 | 42 | ||||||||
| < 680 | 29 | 29 | 35 | ||||||||
| Total | 100 | % | 100 | % | 100 | % | |||||
EOP loans(2) | 90+ days past due(3) | 30–89 days past due(3) | |||||||||||||||||||||
| In
millions of dollars, except EOP loan amounts in billions | March 31, 2021 | March 31, 2021 | December 31, 2020 | March 31, 2020 | March 31, 2021 | December 31, 2020 | March 31, 2020 | ||||||||||||||||
Global
Consumer Banking(4)(5) | |||||||||||||||||||||||
| Total | $ | 267.9 | $ | 2,175 | $ | 2,507 | $ | 2,603 | $ | 2,003 | $ | 2,517 | $ | 2,870 | |||||||||
| Ratio | 0.81 | % | 0.89 | % | 0.93 | % | 0.75 | % | 0.89 | % | 0.90 | % | |||||||||||
| Retail banking | |||||||||||||||||||||||
| Total | $ | 125.8 | $ | 598 | $ | 632 | $ | 429 | $ | 662 | $ | 860 | $ | 794 | |||||||||
| Ratio | 0.48 | % | 0.49 | % | 0.36 | % | 0.53 | % | 0.67 | % | 0.66 | % | |||||||||||
| North America | 50.9 | 263 | 299 | 161 | 220 | 328 | 298 | ||||||||||||||||
| Ratio | 0.52 | % | 0.58 | % | 0.32 | % | 0.44 | % | 0.63 | % | 0.59 | % | |||||||||||
| Latin America | 9.1 | 142 | 130 | 90 | 164 | 220 | 140 | ||||||||||||||||
| Ratio | 1.56 | % | 1.33 | % | 0.98 | % | 1.80 | % | 2.24 | % | 1.52 | % | |||||||||||
Asia(6) | 65.8 | 193 | 203 | 178 | 278 | 312 | 356 | ||||||||||||||||
| Ratio | 0.29 | % | 0.31 | % | 0.30 | % | 0.42 | % | 0.47 | % | 0.59 | % | |||||||||||
| Cards | |||||||||||||||||||||||
| Total | $ | 142.1 | $ | 1,577 | $ | 1,875 | $ | 2,174 | $ | 1,341 | $ | 1,657 | $ | 2,076 | |||||||||
| Ratio | 1.11 | % | 1.22 | % | 1.37 | % | 0.94 | % | 1.08 | % | 1.30 | % | |||||||||||
North
America—Citi-branded | 78.5 | 590 | 686 | 891 | 484 | 589 | 770 | ||||||||||||||||
| Ratio | 0.75 | % | 0.82 | % | 1.01 | % | 0.62 | % | 0.70 | % | 0.87 | % | |||||||||||
North
America—Citi retail services | 42.5 | 591 | 644 | 958 | 513 | 639 | 903 | ||||||||||||||||
| Ratio | 1.39 | % | 1.39 | % | 1.96 | % | 1.21 | % | 1.38 | % | 1.85 | % | |||||||||||
| Latin America | 4.3 | 173 | 233 | 121 | 115 | 170 | 132 | ||||||||||||||||
| Ratio | 4.02 | % | 4.85 | % | 2.69 | % | 2.67 | % | 3.54 | % | 2.93 | % | |||||||||||
Asia(6) | 16.8 | 223 | 312 | 204 | 229 | 259 | 271 | ||||||||||||||||
| Ratio | 1.33 | % | 1.74 | % | 1.18 | % | 1.36 | % | 1.45 | % | 1.57 | % | |||||||||||
Corporate/Other—Consumer(7) | |||||||||||||||||||||||
| Total | $ | 6.1 | $ | 277 | $ | 313 | $ | 281 | $ | 138 | $ | 179 | $ | 252 | |||||||||
| Ratio | 4.86 | % | 5.13 | % | 3.23 | % | 2.42 | % | 2.93 | % | 2.90 | % | |||||||||||
| Total Citigroup | $ | 274.0 | $ | 2,452 | $ | 2,820 | $ | 2,884 | $ | 2,141 | $ | 2,696 | $ | 3,122 | |||||||||
| Ratio | 0.90 | % | 0.98 | % | 1.00 | % | 0.78 | % | 0.94 | % | 1.09 | % | |||||||||||
Average loans(1) | Net
credit losses(2) | |||||||||||||
| In millions of dollars, except average loan amounts in billions | 1Q21 | 1Q21 | 4Q20 | 1Q20 | ||||||||||
| Global Consumer Banking | ||||||||||||||
| Total | $ | 271.7 | $ | 1,580 | $ | 1,272 | $ | 1,934 | ||||||
| Ratio | 2.36 | % | 1.83 | % | 2.68 | % | ||||||||
| Retail banking | ||||||||||||||
| Total | $ | 127.4 | $ | 274 | $ | 185 | $ | 230 | ||||||
| Ratio | 0.87 | % | 0.58 | % | 0.75 | % | ||||||||
| North America | 51.9 | 26 | 31 | 37 | ||||||||||
| Ratio | 0.20 | % | 0.23 | % | 0.29 | % | ||||||||
| Latin America | 9.4 | 168 | 68 | 127 | ||||||||||
| Ratio | 7.25 | % | 2.82 | % | 4.60 | % | ||||||||
Asia(3) | 66.1 | 80 | 86 | 66 | ||||||||||
| Ratio | 0.49 | % | 0.52 | % | 0.43 | % | ||||||||
| Cards | ||||||||||||||
| Total | $ | 144.3 | $ | 1,306 | $ | 1,087 | $ | 1,704 | ||||||
| Ratio | 3.67 | % | 2.91 | % | 4.10 | % | ||||||||
North
America—Citi-branded | 78.7 | 551 | 500 | 781 | ||||||||||
| Ratio | 2.84 | % | 2.43 | % | 3.40 | % | ||||||||
North America—Citi retail services | 43.8 | 373 | 339 | 672 | ||||||||||
| Ratio | 3.45 | % | 3.00 | % | 5.35 | % | ||||||||
| Latin America | 4.5 | 197 | 94 | 144 | ||||||||||
| Ratio | 17.75 | % | 7.96 | % | 10.34 | % | ||||||||
Asia(3) | 17.3 | 185 | 154 | 107 | ||||||||||
| Ratio | 4.34 | % | 3.56 | % | 2.29 | % | ||||||||
Corporate/Other—Consumer | ||||||||||||||
| Total | $ | 6.4 | $ | (18) | $ | (10) | $ | (2) | ||||||
| Ratio | (1.14) | % | (0.54) | % | (0.09) | % | ||||||||
| Total Citigroup | $ | 278.1 | $ | 1,562 | $ | 1,262 | $ | 1,932 | ||||||
| Ratio | 2.28 | % | 1.77 | % | 2.59 | % | ||||||||
| March 31, 2021 | December 31, 2020 | March 31, 2020 | ||||||||||||||||||||||||||||||||||||
| 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) | $ | 182 | $ | 142 | $ | 22 | $ | 346 | $ | 177 | $ | 142 | $ | 25 | $ | 344 | $ | 195 | $ | 175 | $ | 24 | $ | 394 | ||||||||||||||
Unfunded
lending commitments (off-balance sheet)(2) | 170 | 284 | 12 | 466 | 158 | 272 | 11 | 441 | 152 | 231 | 11 | 394 | ||||||||||||||||||||||||||
| Total exposure | $ | 352 | $ | 426 | $ | 34 | $ | 812 | $ | 335 | $ | 414 | $ | 36 | $ | 785 | $ | 347 | $ | 406 | $ | 35 | $ | 788 | ||||||||||||||
| March
31, 2021 | December 31, 2020 | March 31, 2020 | |||||||||
| North America | 57 | % | 56 | % | 57 | % | |||||
| EMEA | 25 | 25 | 25 | ||||||||
| Asia | 13 | 13 | 12 | ||||||||
| Latin America | 5 | 6 | 6 | ||||||||
| Total | 100 | % | 100 | % | 100 | % | |||||
| Total exposure | |||||||||||
| March 31, 2021 | December 31, 2020 | March 31, 2020 | |||||||||
| AAA/AA/A | 50 | % | 49 | % | 48 | % | |||||
| BBB | 31 | 31 | 33 | ||||||||
| BB/B | 16 | 17 | 17 | ||||||||
| CCC or below | 3 | 3 | 2 | ||||||||
| Total | 100 | % | 100 | % | 100 | % | |||||
| Total exposure | |||||||||||
| March 31, 2021 | December 31, 2020 | March 31, 2020 | |||||||||
| Transportation and industrials | 19 | % | 19 | % | 19 | % | |||||
| Private bank | 14 | 14 | 13 | ||||||||
| Consumer retail | 10 | 10 | 11 | ||||||||
| Technology, media and telecom | 11 | 11 | 10 | ||||||||
| Real estate | 8 | 8 | 7 | ||||||||
| Power, chemicals, metals and mining | 8 | 8 | 9 | ||||||||
| Banks and finance companies | 7 | 7 | 8 | ||||||||
| Energy and commodities | 6 | 6 | 7 | ||||||||
| Health | 5 | 5 | 4 | ||||||||
| Public sector | 3 | 3 | 3 | ||||||||
| Insurance | 3 | 3 | 3 | ||||||||
| Asset managers and funds | 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 | $ | 149,737 | $ | 57,653 | $ | 92,084 | $ | 109,655 | $ | 19,267 | $ | 19,083 | $ | 1,732 | $ | 209 | $ | 75 | $ | (8,628) | |||||||||||||||
Autos(6) | 51,939 | 23,993 | 27,946 | 41,823 | 4,895 | 5,018 | 203 | 50 | 1 | (3,521) | |||||||||||||||||||||||||
| Transportation | 31,387 | 13,436 | 17,951 | 20,581 | 3,354 | 6,064 | 1,388 | 16 | 57 | (1,140) | |||||||||||||||||||||||||
| Industrials | 66,411 | 20,224 | 46,187 | 47,251 | 11,018 | 8,001 | 141 | 143 | 17 | (3,967) | |||||||||||||||||||||||||
| Private bank | 116,606 | 78,556 | 38,050 | 111,784 | 2,243 | 2,364 | 215 | 898 | (1) | (1,080) | |||||||||||||||||||||||||
| Consumer retail | 79,201 | 33,424 | 45,777 | 59,944 | 11,452 | 7,129 | 676 | 148 | 9 | (5,394) | |||||||||||||||||||||||||
| Technology, media and telecom | 89,307 | 29,314 | 59,993 | 69,458 | 14,801 | 4,785 | 263 | 72 | 1 | (6,929) | |||||||||||||||||||||||||
| Real estate | 66,712 | 43,938 | 22,774 | 55,302 | 5,929 | 5,141 | 340 | 90 | 13 | (597) | |||||||||||||||||||||||||
| Power, chemicals, metals and mining | 64,069 | 21,086 | 42,983 | 49,505 | 10,474 | 3,837 | 253 | 102 | 51 | (5,426) | |||||||||||||||||||||||||
| Power | 26,922 | 6,278 | 20,644 | 23,055 | 3,036 | 626 | 205 | 7 | 47 | (2,624) | |||||||||||||||||||||||||
| Chemicals | 22,962 | 8,499 | 14,463 | 16,838 | 4,429 | 1,685 | 10 | 9 | 4 | (2,170) | |||||||||||||||||||||||||
| Metals and mining | 14,185 | 6,309 | 7,876 | 9,612 | 3,009 | 1,526 | 38 | 86 | — | (632) | |||||||||||||||||||||||||
| Banks and finance companies | 56,327 | 32,840 | 23,487 | 46,764 | 4,775 | 4,760 | 28 | 90 | — | (867) | |||||||||||||||||||||||||
Energy
and commodities(7) | 47,741 | 14,024 | 33,717 | 33,749 | 7,465 | 5,899 | 628 | 101 | 33 | (3,934) | |||||||||||||||||||||||||
| Health | 39,384 | 8,126 | 31,258 | 29,701 | 7,403 | 2,093 | 187 | 43 | — | (2,059) | |||||||||||||||||||||||||
| Public sector | 27,699 | 14,522 | 13,177 | 22,939 | 2,090 | 2,654 | 16 | 27 | (3) | (1,146) | |||||||||||||||||||||||||
| Insurance | 27,869 | 2,517 | 25,352 | 27,055 | 712 | 102 | — | — | — | (2,541) | |||||||||||||||||||||||||
| Asset managers and funds | 20,158 | 4,793 | 15,365 | 18,358 | 1,228 | 572 | — | 1 | — | (82) | |||||||||||||||||||||||||
| Financial markets infrastructure | 15,531 | 853 | 14,678 | 15,504 | 27 | — | — | — | — | (8) | |||||||||||||||||||||||||
| Securities firms | 1,422 | 227 | 1,195 | 762 | 563 | 89 | 8 | 12 | — | (6) | |||||||||||||||||||||||||
| Other industries | 10,319 | 4,597 | 5,722 | 5,523 | 2,431 | 2,077 | 288 | 22 | 6 | (94) | |||||||||||||||||||||||||
| Total | $ | 812,082 | $ | 346,470 | $ | 465,612 | $ | 656,003 | $ | 90,860 | $ | 60,585 | $ | 4,634 | $ | 1,815 | $ | 184 | $ | (38,791) | |||||||||||||||
| 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) | |||||||||||||||
| March
31, 2021 | December 31, 2020 | March 31, 2020 | |||||||||
| AAA/AA/A | 32 | % | 30 | % | 32 | % | |||||
| BBB | 47 | 48 | 52 | ||||||||
| BB/B | 18 | 19 | 14 | ||||||||
| CCC or below | 3 | 3 | 2 | ||||||||
| Total | 100 | % | 100 | % | 100 | % | |||||
| 1st Qtr. | 4th Qtr. | 3rd Qtr. | 2nd Qtr. | 1st Qtr. | |||||||||||||
| In millions of dollars | 2021 | 2020 | 2020 | 2020 | 2020 | ||||||||||||
| Consumer loans | |||||||||||||||||
In North America offices(1) | |||||||||||||||||
Residential first mortgages(2) | $ | 45,739 | $ | 47,778 | $ | 48,370 | $ | 48,167 | $ | 47,260 | |||||||
Home
equity loans(2) | 6,638 | 7,128 | 7,625 | 8,524 | 8,936 | ||||||||||||
| Credit cards | 121,048 | 130,385 | 125,485 | 128,032 | 137,316 | ||||||||||||
| Personal, small business and other | 4,600 | 4,509 | 4,689 | 4,859 | 3,675 | ||||||||||||
| Total | $ | 178,025 | $ | 189,800 | $ | 186,169 | $ | 189,582 | $ | 197,187 | |||||||
In
offices outside North America(1) | |||||||||||||||||
Residential first mortgages(2) | $ | 39,833 | $ | 39,969 | $ | 38,507 | $ | 37,194 | $ | 35,744 | |||||||
| Credit cards | 21,137 | 22,692 | 21,108 | 20,966 | 21,801 | ||||||||||||
| Personal, small business and other | 35,039 | 36,378 | 34,241 | 33,371 | 33,698 | ||||||||||||
| Total | $ | 96,009 | $ | 99,039 | $ | 93,856 | $ | 91,531 | $ | 91,243 | |||||||
Consumer
loans, net of unearned income(3) | $ | 274,034 | $ | 288,839 | $ | 280,025 | $ | 281,113 | $ | 288,430 | |||||||
| Corporate loans | |||||||||||||||||
In North America
offices(1) | |||||||||||||||||
| Commercial and industrial | $ | 55,497 | $ | 57,731 | $ | 59,921 | $ | 70,755 | $ | 81,231 | |||||||
| Financial institutions | 57,009 | 55,809 | 52,884 | 53,860 | 60,653 | ||||||||||||
Mortgage
and real estate(2) | 60,976 | 60,675 | 59,340 | 57,821 | 55,428 | ||||||||||||
| Installment and other | 29,186 | 26,744 | 26,858 | 25,602 | 30,591 | ||||||||||||
| Lease financing | 539 | 673 | 704 | 869 | 988 | ||||||||||||
| Total | $ | 203,207 | $ | 201,632 | $ | 199,707 | $ | 208,907 | $ | 228,891 | |||||||
In
offices outside North America(1) | |||||||||||||||||
| Commercial and industrial | $ | 102,666 | $ | 104,072 | $ | 108,551 | $ | 115,471 | $ | 121,703 | |||||||
| Financial institutions | 34,729 | 32,334 | 32,583 | 35,173 | 37,003 | ||||||||||||
Mortgage and real estate(2) | 11,166 | 11,371 | 10,424 | 10,332 | 9,639 | ||||||||||||
| Installment and other | 35,347 | 33,759 | 32,323 | 30,678 | 31,728 | ||||||||||||
| Lease financing | 56 | 65 | 63 | 66 | 72 | ||||||||||||
| Governments and official institutions | 4,783 | 3,811 | 3,235 | 3,552 | 3,554 | ||||||||||||
| Total | $ | 188,747 | $ | 185,412 | $ | 187,179 | $ | 195,272 | $ | 203,699 | |||||||
Corporate
loans, net of unearned income(4) | $ | 391,954 | $ | 387,044 | $ | 386,886 | $ | 404,179 | $ | 432,590 | |||||||
| Total loans—net of unearned income | $ | 665,988 | $ | 675,883 | $ | 666,911 | $ | 685,292 | $ | 721,020 | |||||||
| Allowance for credit losses on loans (ACLL) | (21,638) | (24,956) | (26,426) | (26,420) | (20,841) | ||||||||||||
| Total loans—net of unearned income and ACLL | $ | 644,350 | $ | 650,927 | $ | 640,485 | $ | 658,872 | $ | 700,179 | |||||||
ACLL
as a percentage of total loans— net of unearned income(5) | 3.29 | % | 3.73 | % | 4.00 | % | 3.87 | % | 2.84 | % | |||||||
ACLL for consumer loan losses as a percentage of total consumer loans—net of unearned income(5) | 6.41 | % | 6.77 | % | 6.96 | % | 6.93 | % | 5.87 | % | |||||||
ACLL
for corporate loan losses as a percentage of total corporate loans—net of unearned income(5) | 1.06 | % | 1.42 | % | 1.82 | % | 1.71 | % | 0.81 | % | |||||||
| 1st Qtr. | 4th Qtr. | 3rd Qtr. | 2nd Qtr. | 1st Qtr. | |||||||||||||
| In millions of dollars | 2021 | 2020 | 2020 | 2020 | 2020 | ||||||||||||
| Allowance for credit losses on loans (ACLL) at beginning of period | $ | 24,956 | $ | 26,426 | $ | 26,298 | $ | 20,380 | $ | 12,783 | |||||||
| Adjustment to opening balance: | |||||||||||||||||
Financial instruments—credit losses (CECL)(1) | — | — | — | — | 4,201 | ||||||||||||
Variable post-charge-off third-party collection costs(2) | — | — | — | — | (443) | ||||||||||||
| Adjusted ACLL at beginning of period | $ | 24,956 | $ | 26,426 | $ | 26,298 | $ | 20,380 | $ | 16,541 | |||||||
| Provision for credit losses on loans (PCLL) | |||||||||||||||||
Consumer(2) | $ | (354) | $ | 1,034 | $ | 1,500 | $ | 4,297 | $ | 4,934 | |||||||
| Corporate | (1,125) | (1,410) | 431 | 3,693 | 1,443 | ||||||||||||
| Total | $ | (1,479) | $ | (376) | $ | 1,931 | $ | 7,990 | $ | 6,377 | |||||||
| Gross credit losses on loans | |||||||||||||||||
| Consumer | |||||||||||||||||
| In U.S. offices | $ | 1,247 | $ | 1,130 | $ | 1,479 | $ | 1,675 | $ | 1,763 | |||||||
| In offices outside the U.S. | 758 | 524 | 537 | 506 | 577 | ||||||||||||
| Corporate | |||||||||||||||||
| In U.S. offices | 156 | 159 | 194 | 177 | 117 | ||||||||||||
| In offices outside the U.S. | 47 | 76 | 157 | 170 | 22 | ||||||||||||
| Total | $ | 2,208 | $ | 1,889 | $ | 2,367 | $ | 2,528 | $ | 2,479 | |||||||
Credit
recoveries on loans(2) | |||||||||||||||||
| Consumer | |||||||||||||||||
| In U.S. offices | $ | 316 | $ | 270 | $ | 304 | $ | 235 | $ | 274 | |||||||
| In offices outside the U.S. | 127 | 122 | 118 | 109 | 134 | ||||||||||||
| Corporate | |||||||||||||||||
| In U.S. offices | 10 | 16 | 8 | 12 | 7 | ||||||||||||
| In offices outside the U.S. | 7 | 9 | 18 | 11 | 5 | ||||||||||||
| Total | $ | 460 | $ | 417 | $ | 448 | $ | 367 | $ | 420 | |||||||
| Net credit losses on loans (NCLs) | |||||||||||||||||
| In U.S. offices | $ | 1,077 | $ | 980 | $ | 1,361 | $ | 1,605 | $ | 1,599 | |||||||
| In offices outside the U.S. | 671 | 492 | 558 | 556 | 460 | ||||||||||||
| Total | $ | 1,748 | $ | 1,472 | $ | 1,919 | $ | 2,161 | $ | 2,059 | |||||||
Other—net(3)(4)(5)(6)(7)(8) | $ | (91) | $ | 378 | $ | 116 | $ | 89 | $ | (479) | |||||||
| Allowance for credit losses on loans (ACLL) at end of period | $ | 21,638 | $ | 24,956 | $ | 26,426 | $ | 26,298 | $ | 20,380 | |||||||
ACLL as a percentage of EOP loans(9) | 3.29 | % | 3.73 | % | 4.00 | % | 3.87 | % | 2.84 | % | |||||||
Allowance
for credit losses on unfunded lending commitments (ACLUC)(10)(11) | $ | 2,012 | $ | 2,655 | $ | 2,299 | $ | 1,859 | $ | 1,813 | |||||||
| Total ACLL and ACLUC | $ | 23,650 | $ | 27,611 | $ | 28,725 | $ | 28,157 | $ | 22,193 | |||||||
| Net consumer credit losses on loans | $ | 1,562 | $ | 1,262 | $ | 1,594 | $ | 1,837 | $ | 1,932 | |||||||
| As a percentage of average consumer loans | 2.28 | % | 1.77 | % | 2.26 | % | 2.63 | % | 2.59 | % | |||||||
| Net corporate credit losses on loans | $ | 186 | $ | 210 | $ | 325 | $ | 324 | $ | 127 | |||||||
| As a percentage of average corporate loans | 0.20 | % | 0.22 | % | 0.33 | % | 0.31 | % | 0.13 | % | |||||||
ACLL
by type at end of period(12) | |||||||||||||||||
| Consumer | $ | 17,554 | $ | 19,554 | $ | 19,488 | $ | 19,474 | $ | 16,929 | |||||||
| Corporate | 4,084 | 5,402 | 6,938 | 6,824 | 3,451 | ||||||||||||
| Total | $ | 21,638 | $ | 24,956 | $ | 26,426 | $ | 26,298 | $ | 20,380 | |||||||
| March 31, 2021 | |||||||||||
| In billions of dollars | ACLL | EOP loans, net of unearned income | ACLL as a percentage of EOP loans(1) | ||||||||
North America cards(2) | $ | 13.3 | $ | 121.0 | 11.0 | % | |||||
North
America mortgages(3) | 0.5 | 52.4 | 1.0 | ||||||||
North America other | 0.3 | 4.6 | 6.5 | ||||||||
| International cards | 1.8 | 21.1 | 8.5 | ||||||||
International
other(4) | 1.6 | 74.9 | 2.1 | ||||||||
| Total consumer | $ | 17.5 | $ | 274.0 | 6.4 | % | |||||
| Total corporate | 4.1 | 392.0 | 1.1 | ||||||||
| Total Citigroup | $ | 21.6 | $ | 666.0 | 3.3 | % | |||||
| 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 | % | |||||
| March 31, 2021 | |||||||||||
| In millions of dollars, except percentages | Funded exposure(1) | ACLL(2)(3) | ACLL as a % of funded exposure | ||||||||
| Transportation and industrials | $ | 55,775 | $ | 1,075 | 1.9 | % | |||||
| Private bank | 78,556 | 228 | 0.3 | ||||||||
| Consumer retail | 33,415 | 414 | 1.2 | ||||||||
| Technology, media and telecom | 28,288 | 275 | 1.0 | ||||||||
| Real estate | 42,977 | 594 | 1.4 | ||||||||
| Power, chemicals, metals and mining | 20,148 | 202 | 1.0 | ||||||||
| Banks and finance companies | 32,581 | 85 | 0.3 | ||||||||
| Energy and commodities | 13,844 | 446 | 3.2 | ||||||||
| Health | 8,063 | 102 | 1.3 | ||||||||
| Public sector | 14,353 | 229 | 1.6 | ||||||||
| Insurance | 2,517 | 9 | 0.4 | ||||||||
| Asset managers and funds | 4,793 | 21 | 0.4 | ||||||||
| Financial markets infrastructure | 853 | 1 | 0.1 | ||||||||
| Securities firms | 227 | 5 | 2.2 | ||||||||
| Other industries | 2,570 | 85 | 3.3 | ||||||||
| Total | $ | 338,960 | $ | 3,771 | 1.1 | % | |||||
| Mar. 31, | Dec. 31, | Sept. 30, | Jun. 30, | Mar. 31, | |||||||||||||
| In millions of dollars | 2021 | 2020 | 2020 | 2020 | 2020 | ||||||||||||
Corporate
non-accrual loans(1)(2) | |||||||||||||||||
| North America | $ | 1,566 | $ | 1,928 | $ | 2,018 | $ | 2,466 | $ | 1,138 | |||||||
| EMEA | 591 | 661 | 720 | 812 | 720 | ||||||||||||
| Latin America | 739 | 719 | 609 | 585 | 447 | ||||||||||||
| Asia | 210 | 219 | 237 | 153 | 179 | ||||||||||||
| Total corporate non-accrual loans | $ | 3,106 | $ | 3,527 | $ | 3,584 | $ | 4,016 | $ | 2,484 | |||||||
| Consumer non-accrual loans | |||||||||||||||||
| North America | $ | 961 | $ | 1,059 | $ | 934 | $ | 928 | $ | 926 | |||||||
| Latin America | 720 | 774 | 493 | 608 | 489 | ||||||||||||
Asia(3) | 303 | 308 | 263 | 293 | 284 | ||||||||||||
| Total consumer non-accrual loans | $ | 1,984 | $ | 2,141 | $ | 1,690 | $ | 1,829 | $ | 1,699 | |||||||
| Total non-accrual loans | $ | 5,090 | $ | 5,668 | $ | 5,274 | $ | 5,845 | $ | 4,183 | |||||||
| Three Months Ended | Three Months Ended | |||||||||||||||||||
| March 31, 2021 | March 31, 2020 | |||||||||||||||||||
| In millions of dollars | Corporate | Consumer | Total | Corporate | Consumer | Total | ||||||||||||||
| Non-accrual loans at beginning of period | $ | 3,527 | $ | 2,141 | $ | 5,668 | $ | 2,188 | $ | 1,816 | $ | 4,004 | ||||||||
| Additions | 491 | 682 | 1,173 | 816 | 952 | 1,768 | ||||||||||||||
| Sales and transfers to HFS | (1) | (58) | (59) | (1) | (20) | (21) | ||||||||||||||
| Returned to performing | (46) | (189) | (235) | (48) | (91) | (139) | ||||||||||||||
| Paydowns/settlements | (773) | (120) | (893) | (354) | (324) | (678) | ||||||||||||||
| Charge-offs | (75) | (445) | (520) | (91) | (327) | (418) | ||||||||||||||
| Other | (17) | (27) | (44) | (26) | (307) | (333) | ||||||||||||||
| Ending balance | $ | 3,106 | $ | 1,984 | $ | 5,090 | $ | 2,484 | $ | 1,699 | $ | 4,183 | ||||||||
| Mar. 31, | Dec. 31, | Sept. 30, | Jun. 30, | Mar. 31, | |||||||||||||
| In millions of dollars | 2021 | 2020 | 2020 | 2020 | 2020 | ||||||||||||
| OREO | |||||||||||||||||
| North America | $ | 14 | $ | 19 | $ | 22 | $ | 32 | $ | 35 | |||||||
| EMEA | — | — | — | — | 1 | ||||||||||||
| Latin America | 10 | 7 | 8 | 6 | 6 | ||||||||||||
| Asia | 19 | 17 | 12 | 6 | 8 | ||||||||||||
| Total OREO | $ | 43 | $ | 43 | $ | 42 | $ | 44 | $ | 50 | |||||||
| Non-accrual assets | |||||||||||||||||
| Corporate non-accrual loans | $ | 3,106 | $ | 3,527 | $ | 3,584 | $ | 4,016 | $ | 2,484 | |||||||
| Consumer non-accrual loans | 1,984 | 2,141 | 1,690 | 1,829 | 1,699 | ||||||||||||
| Non-accrual loans (NAL) | $ | 5,090 | $ | 5,668 | $ | 5,274 | $ | 5,845 | $ | 4,183 | |||||||
| OREO | $ | 43 | $ | 43 | $ | 42 | $ | 44 | $ | 50 | |||||||
| Non-accrual assets (NAA) | $ | 5,133 | $ | 5,711 | $ | 5,316 | $ | 5,889 | $ | 4,233 | |||||||
| NAL as a percentage of total loans | 0.76 | % | 0.84 | % | 0.79 | % | 0.85 | % | 0.58 | % | |||||||
| NAA as a percentage of total assets | 0.22 | 0.25 | 0.24 | 0.26 | 0.19 | ||||||||||||
ACLL as a percentage of NAL(1) | 425 | % | 440 | % | 501 | % | 450 | % | 487 | % | |||||||
| In millions of dollars | Mar. 31, 2021 | Dec. 31, 2020 | ||||||
Corporate renegotiated loans(1) | ||||||||
| In U.S. offices | ||||||||
Commercial and industrial(2) | $ | 175 | $ | 193 | ||||
| Mortgage and real estate | 56 | 60 | ||||||
| Financial institutions | — | — | ||||||
| Other | 31 | 30 | ||||||
| Total | $ | 262 | $ | 283 | ||||
| In offices outside the U.S. | ||||||||
Commercial
and industrial(2) | $ | 108 | $ | 132 | ||||
| Mortgage and real estate | 27 | 32 | ||||||
| Financial institutions | — | — | ||||||
| Other | 4 | 3 | ||||||
| Total | $ | 139 | $ | 167 | ||||
| Total corporate renegotiated loans | $ | 401 | $ | 450 | ||||
Consumer renegotiated loans(3) | ||||||||
| In U.S. offices | ||||||||
| Mortgage and real estate | $ | 1,808 | $ | 1,904 | ||||
| Cards | 1,483 | 1,449 | ||||||
| Installment and other | 34 | 33 | ||||||
| Total | $ | 3,325 | $ | 3,386 | ||||
| In offices outside the U.S. | ||||||||
| Mortgage and real estate | $ | 357 | $ | 361 | ||||
| Cards | 509 | 533 | ||||||
| Installment and other | 542 | 519 | ||||||
| Total | $ | 1,408 | $ | 1,413 | ||||
| Total consumer renegotiated loans | $ | 4,733 | $ | 4,799 | ||||
| Citibank | Citi non-bank and other entities | Total | |||||||||||||||||||||||||||
| In billions of dollars | Mar. 31, 2021 | Dec. 31, 2020 | Mar. 31, 2020 | Mar. 31, 2021 | Dec. 31, 2020 | Mar. 31, 2020 | Mar. 31, 2021 | Dec. 31, 2020 | Mar. 31, 2020 | ||||||||||||||||||||
| Available cash | $ | 276.6 | $ | 304.3 | $ | 170.9 | $ | 3.0 | $ | 2.1 | $ | 3.1 | $ | 279.6 | $ | 306.4 | $ | 174.0 | |||||||||||
U.S.
sovereign | 85.0 | 77.8 | 92.1 | 67.7 | 64.8 | 34.7 | 152.7 | 142.6 | 126.8 | ||||||||||||||||||||
U.S. agency/agency MBS | 37.0 | 31.8 | 52.4 | 6.3 | 6.5 | 7.2 | 43.3 | 38.3 | 59.6 | ||||||||||||||||||||
Foreign
government debt(1) | 43.6 | 39.6 | 66.3 | 13.7 | 16.2 | 12.7 | 57.3 | 55.8 | 78.9 | ||||||||||||||||||||
Other investment grade | 1.4 | 1.2 | 1.5 | 0.6 | 0.5 | 1.1 | 2.0 | 1.7 | 2.7 | ||||||||||||||||||||
| Total HQLA (AVG) | $ | 443.6 | $ | 454.7 | $ | 383.2 | $ | 91.3 | $ | 90.1 | $ | 58.8 | $ | 534.8 | $ | 544.8 | $ | 442.0 | |||||||||||
| In billions of dollars | Mar. 31, 2021 | Dec. 31, 2020 | Mar. 31, 2020 | ||||||||
| HQLA | $ | 534.8 | $ | 544.8 | $ | 442.0 | |||||
| Net outflows | 463.7 | 460.7 | 385.8 | ||||||||
| LCR | 115 | % | 118 | % | 115 | % | |||||
| HQLA in excess of net outflows | $ | 71.1 | $ | 84.1 | $ | 56.2 | |||||
| In billions of dollars | Mar. 31, 2021 | Dec. 31, 2020 | Mar. 31, 2020 | ||||||||
| Global Consumer Banking | |||||||||||
| North America | $ | 174.4 | $ | 179.4 | $ | 193.3 | |||||
| Latin America | 13.9 | 14.3 | 16.7 | ||||||||
Asia(1) | 83.4 | 82.4 | 80.3 | ||||||||
| Total | $ | 271.7 | $ | 276.1 | $ | 290.3 | |||||
| Institutional Clients Group | |||||||||||
| Corporate lending | $ | 138.0 | $ | 146.2 | $ | 159.9 | |||||
| Treasury and trade solutions (TTS) | 67.9 | 67.1 | 73.1 | ||||||||
| Private bank | 119.8 | 113.3 | 109.9 | ||||||||
Markets and securities services and other | 61.7 | 56.1 | 52.1 | ||||||||
| Total | $ | 387.4 | $ | 382.7 | $ | 395.0 | |||||
Total
Corporate/Other | $ | 6.9 | $ | 7.4 | $ | 9.4 | |||||
| Total Citigroup loans (AVG) | $ | 666.0 | $ | 666.2 | $ | 694.7 | |||||
| Total Citigroup loans (EOP) | $ | 666.0 | $ | 676.1 | $ | 721.0 | |||||
| In billions of dollars | Mar. 31, 2021 | Dec. 31, 2020 | Mar. 31, 2020 | ||||||||
Global Consumer Banking(1) | |||||||||||
| North America | $ | 197.0 | $ | 188.9 | $ | 161.3 | |||||
| Latin America | 24.5 | 24.3 | 22.9 | ||||||||
Asia(2) | 123.8 | 120.0 | 105.9 | ||||||||
| Total | $ | 345.3 | $ | 333.2 | $ | 290.1 | |||||
| Institutional Clients Group | |||||||||||
| Treasury and trade solutions (TTS) | $ | 661.4 | $ | 686.5 | $ | 571.3 | |||||
Banking ex-TTS | 165.6 | 163.2 | 140.1 | ||||||||
| Markets and securities services | 120.2 | 109.3 | 100.1 | ||||||||
| Total | $ | 947.3 | $ | 959.0 | $ | 811.5 | |||||
| Corporate/Other | $ | 11.4 | $ | 13.1 | $ | 12.9 | |||||
| Total Citigroup deposits (AVG) | $ | 1,304.0 | $ | 1,305.3 | $ | 1,114.5 | |||||
| Total Citigroup deposits (EOP) | $ | 1,301.0 | $ | 1,280.7 | $ | 1,184.9 | |||||
| In billions of dollars | Mar. 31, 2021 | Dec. 31, 2020 | Mar. 31, 2020 | ||||||||
Non-bank(1) | |||||||||||
| Benchmark debt: | |||||||||||
Senior debt | $ | 120.1 | $ | 126.2 | $ | 115.5 | |||||
Subordinated debt | 25.9 | 27.1 | 27.5 | ||||||||
Trust
preferred | 1.7 | 1.7 | 1.7 | ||||||||
| Customer-related debt | 66.2 | 65.2 | 51.7 | ||||||||
Local country and other(2) | 5.9 | 6.7 | 7.3 | ||||||||
| Total non-bank | $ | 219.8 | $ | 226.9 | $ | 203.7 | |||||
| Bank | |||||||||||
| FHLB borrowings | $ | 10.9 | $ | 10.9 | $ | 16.0 | |||||
Securitizations(3) | 12.8 | 16.6 | 20.8 | ||||||||
| Citibank benchmark senior debt | 9.2 | 13.6 | 22.2 | ||||||||
Local country and other(2) | 3.6 | 3.7 | 3.4 | ||||||||
| Total bank | $ | 36.5 | $ | 44.8 | $ | 62.4 | |||||
| Total long-term debt | $ | 256.3 | $ | 271.7 | $ | 266.1 | |||||
| 1Q21 | 4Q20 | 1Q20 | ||||||||||||||||||
| In billions of dollars | Maturities | Issuances | Maturities | Issuances | Maturities | Issuances | ||||||||||||||
| Non-bank | ||||||||||||||||||||
| Benchmark debt: | ||||||||||||||||||||
Senior
debt | $ | 4.3 | $ | 2.5 | $ | 3.0 | $ | 2.5 | $ | 2.1 | $ | 7.6 | ||||||||
Subordinated debt | — | — | — | — | — | — | ||||||||||||||
Trust
preferred | — | — | — | — | — | — | ||||||||||||||
| Customer-related debt | 8.6 | 12.2 | 6.3 | 7.4 | 6.4 | 7.9 | ||||||||||||||
| Local country and other | 1.4 | 0.5 | 1.6 | 0.2 | 0.4 | 0.2 | ||||||||||||||
| Total non-bank | $ | 14.3 | $ | 15.2 | $ | 10.9 | $ | 10.1 | $ | 8.9 | $ | 15.7 | ||||||||
| Bank | ||||||||||||||||||||
| FHLB borrowings | $ | — | $ | — | $ | 3.8 | $ | — | $ | 2.4 | $ | 12.9 | ||||||||
| Securitizations | 3.7 | — | 0.1 | 0.3 | 0.1 | — | ||||||||||||||
| Citibank benchmark senior debt | 4.3 | — | 0.7 | — | 1.0 | — | ||||||||||||||
| Local country and other | 0.1 | 0.3 | 0.4 | 0.5 | 0.7 | 0.3 | ||||||||||||||
| Total bank | $ | 8.1 | $ | 0.3 | $ | 5.0 | $ | 0.8 | $ | 4.2 | $ | 13.2 | ||||||||
| Total | $ | 22.4 | $ | 15.5 | $ | 15.9 | $ | 10.9 | $ | 13.1 | $ | 28.9 | ||||||||
| 1Q21 | Maturities | ||||||||||||||||||||||||||||
| In billions of dollars | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Thereafter | Total | |||||||||||||||||||||
| Non-bank | |||||||||||||||||||||||||||||
| Benchmark debt: | |||||||||||||||||||||||||||||
Senior
debt | $ | 4.3 | $ | 10.2 | $ | 11.5 | $ | 12.8 | $ | 11.2 | $ | 7.3 | $ | 18.8 | $ | 48.2 | $ | 120.1 | |||||||||||
Subordinated
debt | — | — | 0.8 | 1.3 | 1.1 | 5.2 | 2.6 | 15.0 | 25.9 | ||||||||||||||||||||
Trust preferred | — | — | — | — | — | — | — | 1.7 | 1.7 | ||||||||||||||||||||
| Customer-related debt | 8.6 | 5.9 | 9.6 | 7.5 | 4.9 | 4.8 | 2.9 | 30.6 | 66.2 | ||||||||||||||||||||
| Local country and other | 1.4 | 0.7 | 1.5 | 2.3 | — | 0.1 | 0.7 | 0.7 | 5.9 | ||||||||||||||||||||
| Total non-bank | $ | 14.3 | $ | 16.8 | $ | 23.4 | $ | 23.9 | $ | 17.2 | $ | 17.4 | $ | 25.0 | $ | 96.2 | $ | 219.8 | |||||||||||
| Bank | |||||||||||||||||||||||||||||
| FHLB borrowings | $ | — | $ | 5.7 | $ | 5.3 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 10.9 | |||||||||||
| Securitizations | 3.7 | 3.4 | 2.1 | 2.4 | 1.3 | 0.4 | — | 3.2 | 12.8 | ||||||||||||||||||||
| Citibank benchmark senior debt | 4.3 | — | 2.5 | 4.0 | — | 2.7 | — | — | 9.2 | ||||||||||||||||||||
| Local country and other | 0.1 | 0.8 | 1.4 | 0.2 | 0.6 | 0.1 | 0.1 | 0.3 | 3.6 | ||||||||||||||||||||
| Total bank | $ | 8.1 | $ | 9.9 | $ | 11.3 | $ | 6.6 | $ | 1.9 | $ | 3.2 | $ | 0.1 | $ | 3.5 | $ | 36.5 | |||||||||||
| Total long-term debt | $ | 22.4 | $ | 26.7 | $ | 34.7 | $ | 30.5 | $ | 19.1 | $ | 20.6 | $ | 25.1 | $ | 99.7 | $ | 256.3 | |||||||||||
| Citigroup Inc. | Citibank, N.A. | |||||||||||||||||||
| Senior debt | Commercial paper | Outlook | Long- term | Short- term | Outlook | |||||||||||||||
| Fitch Ratings (Fitch) | A | F1 | Negative | A+ | F1 | Negative | ||||||||||||||
| Moody’s Investors Service (Moody’s) | A3 | P-2 | Stable | Aa3 | P-1 | Stable | ||||||||||||||
| Standard & Poor’s (S&P) | BBB+ | A-2 | Stable | A+ | A-1 | Stable | ||||||||||||||
| In millions of dollars, except as otherwise noted | Mar. 31, 2021 | Dec. 31, 2020 | Mar. 31, 2020 | ||||||||
| Estimated annualized impact to net interest revenue | |||||||||||
U.S.
dollar(1) | $ | 102 | $ | 373 | $ | (142) | |||||
| All other currencies | 636 | 683 | 660 | ||||||||
| Total | $ | 738 | $ | 1,056 | $ | 518 | |||||
| As a percentage of average interest-earning assets | 0.03 | % | 0.05 | % | 0.03 | % | |||||
Estimated initial negative impact to AOCI (after-tax)(2) | $ | (5,395) | $ | (5,645) | $ | (5,746) | |||||
| Estimated initial impact on Common Equity Tier 1 Capital ratio (bps) | (32) | (34) | (34) | ||||||||
| 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 | $ | 102 | $ | 167 | $ | 64 | $ | (264) | $ | (549) | |||||||
| All other currencies | 636 | 594 | 37 | (37) | (391) | ||||||||||||
| Total | $ | 738 | $ | 761 | $ | 101 | $ | (301) | $ | (940) | |||||||
Estimated
initial impact to AOCI (after-tax)(1) | $ | (5,395) | $ | (3,356) | $ | (2,361) | $ | 1,843 | $ | 3,301 | |||||||
| Estimated initial impact to Common Equity Tier 1 Capital ratio (bps) | (32) | (20) | (15) | 11 | 16 | ||||||||||||
| For the quarter ended | |||||||||||
| In millions of dollars, except as otherwise noted | Mar. 31, 2021 | Dec. 31, 2020 | Mar. 31, 2020 | ||||||||
Change in FX spot rate(1) | (2.3) | % | 5.5 | % | (9.2) | % | |||||
| Change in TCE due to FX translation, net of hedges | $ | (1,030) | $ | 1,829 | $ | (3,201) | |||||
| As a percentage of TCE | (0.7) | % | 1.2 | % | (2.1) | % | |||||
| 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) | 2 | (5) | ||||||||
| 1st Qtr. | 4th Qtr. | 1st Qtr. | Change | |||||||||||||||||||||||
| In millions of dollars, except as otherwise noted | 2021 | 2020 | 2020 | 1Q21 vs. 1Q20 | ||||||||||||||||||||||
Interest revenue(1) | $ | 12,587 | $ | 13,095 | $ | 17,185 | (27) | % | ||||||||||||||||||
Interest
expense(2) | 2,368 | 2,564 | 5,647 | (58) | ||||||||||||||||||||||
| Net interest revenue, taxable equivalent basis | $ | 10,219 | $ | 10,531 | $ | 11,538 | (11) | % | ||||||||||||||||||
Interest
revenue—average rate(3) | 2.41 | % | 2.48 | % | 3.69 | % | (128) | bps | ||||||||||||||||||
| Interest expense—average rate | 0.56 | 0.60 | 1.49 | (93) | bps | |||||||||||||||||||||
Net
interest margin(3)(4) | 1.95 | 2.00 | 2.48 | (53) | bps | |||||||||||||||||||||
| Interest-rate benchmarks | ||||||||||||||||||||||||||
| Two-year U.S. Treasury note—average rate | 0.13 | % | 0.15 | % | 1.08 | % | (95) | bps | ||||||||||||||||||
| 10-year U.S. Treasury note—average rate | 1.34 | 0.86 | 1.37 | (3) | bps | |||||||||||||||||||||
| 10-year vs. two-year spread | 121 | bps | 71 | bps | 29 | bps | ||||||||||||||||||||
| 1st Qtr. | 4th Qtr. | 1st Qtr. | Change | ||||||||||||||||||||
In millions of dollars | 2021 | 2020 | 2020 | 1Q21 vs. 1Q20 | |||||||||||||||||||
Net interest revenue (NIR)—taxable equivalent basis(1) per above | $ | 10,219 | $ | 10,531 | $ | 11,538 | (11) | % | |||||||||||||||
ICG
Markets NIR—taxable equivalent basis(1) | 1,334 | 1,348 | 1,182 | 13 | |||||||||||||||||||
Non-ICG Markets NIR—taxable equivalent basis(1) | $ | 8,885 | $ | 9,183 | $ | 10,356 | (14) | % | |||||||||||||||
| Quarterly—Assets | Average volume | Interest revenue | % Average rate | ||||||||||||||||||||||||||
| 1st Qtr. | 4th Qtr. | 1st Qtr. | 1st Qtr. | 4th Qtr. | 1st Qtr. | 1st Qtr. | 4th Qtr. | 1st Qtr. | |||||||||||||||||||||
| In millions of dollars, except rates | 2021 | 2020 | 2020 | 2021 | 2020 | 2020 | 2021 | 2020 | 2020 | ||||||||||||||||||||
Deposits
with banks(4) | $ | 307,340 | $ | 334,056 | $ | 207,130 | $ | 145 | $ | 126 | $ | 527 | 0.19 | % | 0.15 | % | 1.02 | % | |||||||||||
Securities
borrowed and purchased under agreements to resell(5) | |||||||||||||||||||||||||||||
| In U.S. offices | $ | 163,790 | $ | 158,013 | $ | 141,351 | $ | 117 | $ | 126 | $ | 749 | 0.29 | % | 0.32 | % | 2.13 | % | |||||||||||
In
offices outside the U.S.(4) | 142,591 | 140,628 | 127,549 | 177 | 196 | 459 | 0.50 | 0.55 | 1.45 | ||||||||||||||||||||
| Total | $ | 306,381 | $ | 298,641 | $ | 268,900 | $ | 294 | $ | 322 | $ | 1,208 | 0.39 | % | 0.43 | % | 1.81 | % | |||||||||||
Trading
account assets(6)(7) | |||||||||||||||||||||||||||||
| In U.S. offices | $ | 154,798 | $ | 147,080 | $ | 130,138 | $ | 752 | $ | 835 | $ | 975 | 1.97 | % | 2.26 | % | 3.01 | % | |||||||||||
In
offices outside the U.S.(4) | 153,019 | 148,317 | 122,320 | 586 | 571 | 619 | 1.55 | 1.53 | 2.04 | ||||||||||||||||||||
| Total | $ | 307,817 | $ | 295,397 | $ | 252,458 | $ | 1,338 | $ | 1,406 | $ | 1,594 | 1.76 | % | 1.89 | % | 2.54 | % | |||||||||||
| Investments | |||||||||||||||||||||||||||||
| In U.S. offices | |||||||||||||||||||||||||||||
| Taxable | $ | 295,570 | $ | 282,847 | $ | 238,298 | $ | 806 | $ | 801 | $ | 1,158 | 1.11 | % | 1.13 | % | 1.95 | % | |||||||||||
| Exempt from U.S. income tax | 12,902 | 13,300 | 14,170 | 118 | 91 | 109 | 3.71 | 2.72 | 3.09 | ||||||||||||||||||||
In offices outside the U.S.(4) | 149,477 | 146,221 | 128,867 | 856 | 873 | 1,038 | 2.32 | 2.38 | 3.24 | ||||||||||||||||||||
| Total | $ | 457,949 | $ | 442,368 | $ | 381,335 | $ | 1,780 | $ | 1,765 | $ | 2,305 | 1.58 | % | 1.59 | % | 2.43 | % | |||||||||||
Loans (net of unearned income)(8) | |||||||||||||||||||||||||||||
| In U.S. offices | $ | 379,956 | $ | 383,623 | $ | 403,558 | $ | 6,042 | $ | 6,334 | $ | 7,318 | 6.45 | % | 6.57 | % | 7.29 | % | |||||||||||
In
offices outside the U.S.(4) | 286,014 | 282,606 | 291,117 | 2,891 | 3,055 | 3,950 | 4.10 | 4.30 | 5.46 | ||||||||||||||||||||
| Total | $ | 665,970 | $ | 666,229 | $ | 694,675 | $ | 8,933 | $ | 9,389 | $ | 11,268 | 5.44 | % | 5.61 | % | 6.52 | % | |||||||||||
Other
interest-earning assets(9) | $ | 76,091 | $ | 62,587 | $ | 68,737 | $ | 97 | $ | 87 | $ | 283 | 0.52 | % | 0.55 | % | 1.66 | % | |||||||||||
| Total interest-earning assets | $ | 2,121,548 | $ | 2,099,278 | $ | 1,873,235 | $ | 12,587 | $ | 13,095 | $ | 17,185 | 2.41 | % | 2.48 | % | 3.69 | % | |||||||||||
Non-interest-earning assets(6) | $ | 195,245 | $ | 200,002 | $ | 206,819 | |||||||||||||||||||||||
| Total assets | $ | 2,316,793 | $ | 2,299,280 | $ | 2,080,054 | |||||||||||||||||||||||
| Quarterly—Liabilities | Average volume | Interest expense | % Average rate | ||||||||||||||||||||||||||
| 1st Qtr. | 4th Qtr. | 1st Qtr. | 1st Qtr. | 4th Qtr. | 1st Qtr. | 1st Qtr. | 4th Qtr. | 1st Qtr. | |||||||||||||||||||||
| In millions of dollars, except rates | 2021 | 2020 | 2020 | 2021 | 2020 | 2020 | 2021 | 2020 | 2020 | ||||||||||||||||||||
| Deposits | |||||||||||||||||||||||||||||
In
U.S. offices(4) | $ | 505,694 | $ | 516,844 | $ | 427,957 | $ | 531 | $ | 606 | $ | 1,360 | 0.43 | % | 0.47 | % | 1.28 | % | |||||||||||
In
offices outside the U.S.(5) | 568,133 | 564,257 | 506,494 | 521 | 555 | 1,254 | 0.37 | 0.39 | 1.00 | ||||||||||||||||||||
| Total | $ | 1,073,827 | $ | 1,081,101 | $ | 934,451 | $ | 1,052 | $ | 1,161 | $ | 2,614 | 0.40 | % | 0.43 | % | 1.13 | % | |||||||||||
Securities
loaned and sold under agreements to repurchase(6) | |||||||||||||||||||||||||||||
| In U.S. offices | $ | 146,942 | $ | 138,118 | $ | 128,499 | $ | 171 | $ | 166 | $ | 718 | 0.47 | % | 0.48 | % | 2.25 | % | |||||||||||
In
offices outside the U.S.(5) | 88,321 | 89,139 | 70,011 | 82 | 81 | 367 | 0.38 | 0.36 | 2.11 | ||||||||||||||||||||
| Total | $ | 235,263 | $ | 227,257 | $ | 198,510 | $ | 253 | $ | 247 | $ | 1,085 | 0.44 | % | 0.43 | % | 2.20 | % | |||||||||||
Trading
account liabilities(7)(8) | |||||||||||||||||||||||||||||
| In U.S. offices | $ | 51,797 | $ | 41,271 | $ | 36,453 | $ | 22 | $ | 44 | $ | 138 | 0.17 | % | 0.42 | % | 1.52 | % | |||||||||||
In
offices outside the U.S.(5) | 65,567 | 54,204 | 48,047 | 92 | 78 | 101 | 0.57 | 0.57 | 0.85 | ||||||||||||||||||||
| Total | $ | 117,364 | $ | 95,475 | $ | 84,500 | $ | 114 | $ | 122 | $ | 239 | 0.39 | % | 0.51 | % | 1.14 | % | |||||||||||
Short-term
borrowings and other interest-bearing liabilities(9) | |||||||||||||||||||||||||||||
| In U.S. offices | $ | 72,414 | $ | 69,785 | $ | 86,710 | $ | — | $ | 6 | $ | 326 | — | % | 0.03 | % | 1.51 | % | |||||||||||
In
offices outside the U.S.(5) | 20,930 | 18,768 | 19,850 | 31 | 12 | 58 | 0.60 | 0.25 | 1.18 | ||||||||||||||||||||
| Total | $ | 93,344 | $ | 88,553 | $ | 106,560 | $ | 31 | $ | 18 | $ | 384 | 0.13 | % | 0.08 | % | 1.45 | % | |||||||||||
Long-term
debt(10) | |||||||||||||||||||||||||||||
| In U.S. offices | $ | 201,491 | $ | 217,148 | $ | 198,006 | $ | 905 | $ | 1,016 | $ | 1,318 | 1.82 | % | 1.86 | % | 2.68 | % | |||||||||||
In
offices outside the U.S.(5) | 4,773 | 3,810 | 4,186 | 13 | — | 7 | 1.10 | — | 0.67 | ||||||||||||||||||||
| Total | $ | 206,264 | $ | 220,958 | $ | 202,192 | $ | 918 | $ | 1,016 | $ | 1,325 | 1.80 | % | 1.83 | % | 2.64 | % | |||||||||||
| Total interest-bearing liabilities | $ | 1,726,062 | $ | 1,713,344 | $ | 1,526,213 | $ | 2,368 | $ | 2,564 | $ | 5,647 | 0.56 | % | 0.60 | % | 1.49 | % | |||||||||||
| Demand deposits in U.S. offices | $ | 56,632 | $ | 33,739 | $ | 26,709 | |||||||||||||||||||||||
Other non-interest-bearing liabilities(7) | 333,113 | 355,944 | 333,293 | ||||||||||||||||||||||||||
| Total liabilities | $ | 2,115,807 | $ | 2,103,027 | $ | 1,886,215 | |||||||||||||||||||||||
| Citigroup stockholders’ equity | $ | 200,301 | $ | 195,584 | $ | 193,198 | |||||||||||||||||||||||
| Noncontrolling interests | 685 | 669 | 641 | ||||||||||||||||||||||||||
| Total equity | $ | 200,986 | $ | 196,253 | $ | 193,839 | |||||||||||||||||||||||
| Total liabilities and stockholders’ equity | $ | 2,316,793 | $ | 2,299,280 | $ | 2,080,054 | |||||||||||||||||||||||
Net interest revenue as a percentage of average interest-earning assets(11) | |||||||||||||||||||||||||||||
| In U.S. offices | $ | 1,231,795 | $ | 1,231,902 | $ | 1,077,873 | $ | 6,335 | $ | 6,477 | $ | 7,001 | 2.09 | % | 2.09 | % | 2.61 | % | |||||||||||
In
offices outside the U.S.(6) | 889,753 | 867,376 | 795,362 | 3,884 | 4,054 | 4,537 | 1.77 | 1.86 | 2.29 | ||||||||||||||||||||
| Total | $ | 2,121,548 | $ | 2,099,278 | $ | 1,873,235 | $ | 10,219 | $ | 10,531 | $ | 11,538 | 1.95 | % | 2.00 | % | 2.48 | % | |||||||||||
| 1Q21 vs. 4Q20 | 1Q21 vs. 1Q20 | |||||||||||||||||||
| 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 with banks(3) | $ | (11) | $ | 30 | $ | 19 | $ | 178 | $ | (560) | $ | (382) | ||||||||
| Securities borrowed and purchased under agreements to resell | ||||||||||||||||||||
| In U.S. offices | $ | 4 | $ | (13) | $ | (9) | $ | 103 | $ | (735) | $ | (632) | ||||||||
In
offices outside the U.S.(3) | 3 | (22) | (19) | 49 | (331) | (282) | ||||||||||||||
| Total | $ | 7 | $ | (35) | $ | (28) | $ | 152 | $ | (1,066) | $ | (914) | ||||||||
Trading
account assets(4) | ||||||||||||||||||||
| In U.S. offices | $ | 42 | $ | (125) | $ | (83) | $ | 162 | $ | (385) | $ | (223) | ||||||||
In
offices outside the U.S.(3) | 18 | (3) | 15 | 136 | (169) | (33) | ||||||||||||||
| Total | $ | 60 | $ | (128) | $ | (68) | $ | 298 | $ | (554) | $ | (256) | ||||||||
Investments(1) | ||||||||||||||||||||
| In U.S. offices | $ | 37 | $ | (5) | $ | 32 | $ | 241 | $ | (584) | $ | (343) | ||||||||
In offices outside the U.S.(3) | 19 | (36) | (17) | 149 | (331) | (182) | ||||||||||||||
| Total | $ | 56 | $ | (41) | $ | 15 | $ | 390 | $ | (915) | $ | (525) | ||||||||
Loans
(net of unearned income)(5) | ||||||||||||||||||||
| In U.S. offices | $ | (60) | $ | (232) | $ | (292) | $ | (411) | $ | (865) | $ | (1,276) | ||||||||
In
offices outside the U.S.(3) | 36 | (200) | (164) | (68) | (991) | (1,059) | ||||||||||||||
| Total | $ | (24) | $ | (432) | $ | (456) | $ | (479) | $ | (1,856) | $ | (2,335) | ||||||||
Other
interest-earning assets(6) | $ | 18 | $ | (8) | $ | 10 | $ | 27 | $ | (213) | $ | (186) | ||||||||
| Total interest revenue | $ | 106 | $ | (614) | $ | (508) | $ | 566 | $ | (5,164) | $ | (4,598) | ||||||||
| 1Q21 vs. 4Q20 | 1Q21 vs. 1Q20 | |||||||||||||||||||
| 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 | $ | (13) | $ | (62) | $ | (75) | $ | 212 | $ | (1,041) | $ | (829) | ||||||||
In offices outside the U.S.(3) | 4 | (38) | (34) | 137 | (870) | (733) | ||||||||||||||
| Total | $ | (9) | $ | (100) | $ | (109) | $ | 349 | $ | (1,911) | $ | (1,562) | ||||||||
| Securities loaned and sold under agreements to repurchase | ||||||||||||||||||||
| In U.S. offices | $ | 11 | $ | (6) | $ | 5 | $ | 90 | $ | (637) | $ | (547) | ||||||||
In
offices outside the U.S.(3) | (1) | 2 | 1 | 77 | (362) | (285) | ||||||||||||||
| Total | $ | 10 | $ | (4) | $ | 6 | $ | 167 | $ | (999) | $ | (832) | ||||||||
Trading
account liabilities(4) | ||||||||||||||||||||
| In U.S. offices | $ | 9 | $ | (31) | $ | (22) | $ | 42 | $ | (158) | $ | (116) | ||||||||
In
offices outside the U.S.(3) | 16 | (2) | 14 | 30 | (39) | (9) | ||||||||||||||
| Total | $ | 25 | $ | (33) | $ | (8) | $ | 72 | $ | (197) | $ | (125) | ||||||||
Short-term
borrowings and other interest-bearing liabilities(5) | ||||||||||||||||||||
| In U.S. offices | $ | — | $ | (6) | $ | (6) | $ | (46) | $ | (280) | $ | (326) | ||||||||
In
offices outside the U.S.(3) | 2 | 17 | 19 | 3 | (30) | (27) | ||||||||||||||
| Total | $ | 2 | $ | 11 | $ | 13 | $ | (43) | $ | (310) | $ | (353) | ||||||||
| Long-term debt | ||||||||||||||||||||
| In U.S. offices | $ | (71) | $ | (40) | $ | (111) | $ | 23 | $ | (436) | $ | (413) | ||||||||
In
offices outside the U.S.(3) | — | 13 | 13 | 1 | 5 | 6 | ||||||||||||||
| Total | $ | (71) | $ | (27) | $ | (98) | $ | 24 | $ | (431) | $ | (407) | ||||||||
| Total interest expense | $ | (43) | $ | (153) | $ | (196) | $ | 569 | $ | (3,848) | $ | (3,279) | ||||||||
| Net interest revenue | $ | 151 | $ | (463) | $ | (312) | $ | (3) | $ | (1,316) | $ | (1,319) | ||||||||
| First Quarter | Fourth Quarter | First Quarter | ||||||||||||||||||
| In millions of dollars | March 31, 2021 | 2021 Average | Dec. 31, 2020 | 2020 Average | March 31, 2020 | 2020 Average | ||||||||||||||
| Interest rate | $ | 68 | $ | 66 | $ | 72 | $ | 64 | $ | 78 | $ | 38 | ||||||||
| Credit spread | 67 | 72 | 70 | 73 | 157 | 55 | ||||||||||||||
Covariance adjustment(1) | (43) | (43) | (51) | (47) | (55) | (26) | ||||||||||||||
Fully
diversified interest rate and credit spread(2) | $ | 92 | $ | 95 | $ | 91 | $ | 90 | $ | 180 | $ | 67 | ||||||||
| Foreign exchange | 45 | 45 | 40 | 33 | 29 | 21 | ||||||||||||||
| Equity | 37 | 30 | 31 | 32 | 92 | 37 | ||||||||||||||
| Commodity | 30 | 29 | 17 | 21 | 45 | 16 | ||||||||||||||
Covariance
adjustment(1) | (105) | (97) | (85) | (83) | (155) | (66) | ||||||||||||||
Total trading VAR—all market risk factors, including general and specific risk (excluding credit portfolios)(2) | $ | 99 | $ | 102 | $ | 94 | $ | 93 | $ | 191 | $ | 75 | ||||||||
Specific
risk-only component(3) | $ | (2) | $ | 5 | $ | (1) | $ | 3 | $ | (16) | $ | 7 | ||||||||
| Total trading VAR—general market risk factors only (excluding credit portfolios) | $ | 101 | $ | 97 | $ | 95 | $ | 90 | $ | 207 | $ | 68 | ||||||||
Incremental
impact of the credit portfolio(4) | $ | 28 | $ | 21 | $ | 29 | $ | 33 | $ | 217 | $ | 44 | ||||||||
| Total trading and credit portfolio VAR | $ | 127 | $ | 123 | $ | 123 | $ | 126 | $ | 408 | $ | 119 | ||||||||
| First Quarter | Fourth Quarter | First Quarter | ||||||||||||||||||
| 2021 | 2020 | 2020 | ||||||||||||||||||
| In millions of dollars | Low | High | Low | High | Low | High | ||||||||||||||
| Interest rate | $ | 51 | $ | 84 | $ | 40 | $ | 89 | $ | 28 | $ | 78 | ||||||||
| Credit spread | 63 | 82 | 63 | 78 | 36 | 162 | ||||||||||||||
| Fully diversified interest rate and credit spread | $ | 86 | $ | 106 | $ | 80 | $ | 106 | $ | 44 | $ | 180 | ||||||||
| Foreign exchange | 41 | 49 | 27 | 40 | 14 | 32 | ||||||||||||||
| Equity | 21 | 37 | 26 | 41 | 13 | 141 | ||||||||||||||
| Commodity | 17 | 42 | 15 | 29 | 12 | 45 | ||||||||||||||
| Total trading | $ | 89 | $ | 120 | $ | 77 | $ | 112 | $ | 47 | $ | 191 | ||||||||
| Total trading and credit portfolio | 108 | 139 | 115 | 135 | 58 | 414 | ||||||||||||||
| In millions of dollars | Mar. 31, 2021 | ||||
| Total—all market risk factors, including general and specific risk | |||||
| Average—during quarter | $ | 104 | |||
| High—during quarter | 123 | ||||
| Low—during quarter | 90 | ||||
| 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 1Q21 | Total as of 4Q20 | Total as of 1Q20 | Total as a % of Citi as of 1Q21 | ||||||||||||||||||||||||||
| United Kingdom | $ | 45.4 | $ | — | $ | 1.7 | $ | 54.9 | $ | 16.7 | $ | (6.4) | $ | 4.7 | $ | (1.7) | $ | 115.3 | $ | 115.2 | $ | 118.9 | 6.5 | % | ||||||||||||||
| Mexico | 13.9 | 13.4 | 0.3 | 8.2 | 3.9 | (0.9) | 19.1 | 4.3 | 62.2 | 64.5 | 56.9 | 3.5 | ||||||||||||||||||||||||||
| Hong Kong | 20.4 | 13.5 | 0.3 | 7.2 | 2.5 | (6.5) | 8.7 | 1.7 | 47.8 | 49.0 | 49.3 | 2.7 | ||||||||||||||||||||||||||
| Ireland | 12.3 | — | 0.7 | 30.0 | 0.5 | (0.1) | — | 0.7 | 44.1 | 43.9 | 40.5 | 2.5 | ||||||||||||||||||||||||||
| Singapore | 14.5 | 13.6 | 0.1 | 6.2 | 1.9 | (3.5) | 7.0 | 1.7 | 41.5 | 45.8 | 44.6 | 2.4 | ||||||||||||||||||||||||||
| South Korea | 3.3 | 17.8 | 0.1 | 2.4 | 1.3 | (0.8) | 10.6 | 0.3 | 35.0 | 35.8 | 33.5 | 2.0 | ||||||||||||||||||||||||||
| India | 6.9 | 4.1 | 1.0 | 6.3 | 2.2 | (0.5) | 9.1 | 0.5 | 29.6 | 31.4 | 30.2 | 1.7 | ||||||||||||||||||||||||||
| Germany | 0.3 | — | 0.2 | 6.2 | 5.0 | (3.9) | 9.9 | 8.1 | 25.8 | 24.4 | 21.5 | 1.5 | ||||||||||||||||||||||||||
| Brazil | 11.0 | — | — | 2.8 | 3.4 | (0.6) | 4.1 | 3.0 | 23.7 | 26.2 | 26.2 | 1.3 | ||||||||||||||||||||||||||
| Australia | 4.8 | 9.3 | — | 6.7 | 1.5 | (0.7) | 1.4 | 0.1 | 23.1 | 21.7 | 22.6 | 1.3 | ||||||||||||||||||||||||||
| China | 8.5 | 3.5 | 0.6 | 3.7 | 1.1 | (0.5) | 5.5 | (1.3) | 21.1 | 21.8 | 21.5 | 1.2 | ||||||||||||||||||||||||||
| Japan | 2.0 | — | 0.1 | 3.2 | 4.8 | (1.9) | 5.4 | 5.3 | 18.9 | 21.8 | 20.5 | 1.1 | ||||||||||||||||||||||||||
| Taiwan | 5.5 | 8.3 | 0.2 | 1.2 | 0.7 | (0.1) | 0.2 | 1.0 | 17.0 | 17.3 | 16.6 | 1.0 | ||||||||||||||||||||||||||
| Canada | 2.0 | 0.5 | 0.1 | 7.6 | 2.4 | (1.1) | 4.2 | 0.4 | 16.1 | 17.8 | 18.2 | 0.9 | ||||||||||||||||||||||||||
| Jersey | 7.1 | — | 0.1 | 7.2 | — | (0.4) | — | — | 14.0 | 13.4 | 11.7 | 0.8 | ||||||||||||||||||||||||||
| United Arab Emirates | 7.0 | 1.3 | — | 3.7 | 0.3 | (0.4) | 1.7 | (0.1) | 13.5 | 12.4 | 14.2 | 0.8 | ||||||||||||||||||||||||||
| Poland | 3.6 | 1.8 | — | 2.7 | 0.2 | (0.1) | 2.6 | 0.6 | 11.4 | 15.0 | 14.7 | 0.6 | ||||||||||||||||||||||||||
| Malaysia | 1.5 | 3.6 | 0.1 | 0.8 | 0.2 | — | 1.6 | 0.6 | 8.4 | 8.3 | 8.6 | 0.5 | ||||||||||||||||||||||||||
| Thailand | 0.9 | 2.8 | — | 2.2 | — | — | 1.5 | — | 7.4 | 8.0 | 7.3 | 0.4 | ||||||||||||||||||||||||||
| Indonesia | 2.1 | 0.6 | — | 1.3 | 0.3 | (0.1) | 1.7 | 0.2 | 6.1 | 6.0 | 5.3 | 0.3 | ||||||||||||||||||||||||||
| Luxembourg | 0.8 | — | — | — | 0.5 | (1.0) | 5.0 | 0.2 | 5.5 | 5.1 | 6.1 | 0.3 | ||||||||||||||||||||||||||
| Cayman Islands | — | — | — | — | 0.1 | (0.8) | 5.1 | 0.7 | 5.1 | 2.1 | 3.1 | 0.3 | ||||||||||||||||||||||||||
| Russia | 2.0 | 0.8 | — | 0.9 | 0.1 | (0.1) | 1.5 | (0.1) | 5.1 | 5.2 | 5.1 | 0.3 | ||||||||||||||||||||||||||
| Czech Republic | 0.8 | — | — | 0.7 | 2.2 | — | 0.7 | 0.1 | 4.5 | 4.3 | 3.3 | 0.3 | ||||||||||||||||||||||||||
| Philippines | 0.7 | 1.3 | 0.1 | 0.5 | — | — | 1.7 | (0.2) | 4.1 | 4.5 | 5.0 | 0.2 | ||||||||||||||||||||||||||
| Total as a % of Citi’s total exposure | 34.4 | % | ||||||||||||||||||||||||||||||||||||
| Total as a % of Citi’s non-U.S. total exposure | 91.2 | % | ||||||||||||||||||||||||||||||||||||
| ACL | |||||||||||||||||||||||||||||||||||
| In millions of dollars | Balance Dec. 31, 2020 | 1Q21 build (release) | 1Q21 FX/Other | Balance Mar. 31, 2021 | ACLL/EOP loans Mar. 31, 2021(1) | ||||||||||||||||||||||||||||||
Cards(1) | $ | 16,805 | $ | (1,523) | $ | (42) | $ | 15,240 | 10.72 | % | |||||||||||||||||||||||||
All
other GCB | 2,419 | (283) | (42) | 2,094 | |||||||||||||||||||||||||||||||
| Global Consumer Banking | $ | 19,224 | $ | (1,806) | $ | (84) | $ | 17,334 | 6.47 | % | |||||||||||||||||||||||||
| Institutional Clients Group | 5,402 | (1,312) | (6) | 4,084 | 1.06 | ||||||||||||||||||||||||||||||
| Corporate/Other | 330 | (109) | (1) | 220 | |||||||||||||||||||||||||||||||
| Allowance for credit losses on loans (ACLL) | $ | 24,956 | $ | (3,227) | $ | (91) | $ | 21,638 | 3.29 | % | |||||||||||||||||||||||||
| Allowance for credit losses on unfunded lending commitments (ACLUC) | 2,655 | (626) | (17) | 2,012 | |||||||||||||||||||||||||||||||
| Other | 146 | 1 | (1) | 146 | |||||||||||||||||||||||||||||||
| Total ACL | $ | 27,757 | $ | (3,852) | $ | (109) | $ | 23,796 | |||||||||||||||||||||||||||
| Quarterly average | ||||||||||||||
| U.S. unemployment | 2Q21 | 4Q21 | 2Q22 | 13-quarter average(1) | ||||||||||
| Citi forecast at 1Q20 | 6.7 | % | 6.5 | % | 6.1 | % | 6.1 | % | ||||||
| Citi forecast at 2Q20 | 7.2 | 5.9 | 5.7 | 7.2 | ||||||||||
| Citi forecast at 3Q20 | 7.6 | 6.4 | 6.1 | 6.6 | ||||||||||
| Citi forecast at 4Q20 | 7.0 | 6.3 | 6.1 | 6.1 | ||||||||||
| Citi forecast at 1Q21 | 5.6 | 4.9 | 4.1 | 4.3 | ||||||||||
Year-over-year growth rate(1) | |||||||||||
| Full year | |||||||||||
| U.S. Real GDP | 2021 | 2022 | 2023 | ||||||||
| Citi forecast at 1Q20 | 1.5 | % | 1.9 | % | 1.9 | % | |||||
| Citi forecast at 2Q20 | 5.5 | 3.3 | 2.1 | ||||||||
| 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 | ||||||||
| Jurisdiction/Component | DTAs balance | ||||||||||
| In billions of dollars | March 31, 2021 | December 31, 2020 | |||||||||
| Total U.S. | $ | 21.4 | $ | 22.2 | |||||||
| Total foreign | 2.8 | 2.6 | |||||||||
| Total | $ | 24.2 | $ | 24.8 | |||||||
| CONSOLIDATED FINANCIAL STATEMENTS | |||||
Consolidated Statement of Income (Unaudited)— For the Three Months Ended March 31, 2021 and 2020 | |||||
Consolidated Statement of Comprehensive Income (Unaudited)—For the Three Months Ended March 31, 2021 and 2020 | |||||
Consolidated Balance Sheet—March 31, 2021 (Unaudited) and December 31, 2020 | |||||
Consolidated
Statement of Changes in Stockholders’ Equity (Unaudited)—For the Three Months Ended March 31, 2021 and 2020 | |||||
Consolidated Statement of Cash Flows (Unaudited)— For the Three Months Ended March 31, 2021 and 2020 | |||||
NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) | |||||
| Note 1—Basis of Presentation, Updated Accounting Policies and Accounting Changes | |||||
| Note 2—Discontinued Operations and Significant Disposals | |||||
| Note 3—Business Segments | |||||
| 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 March 31, | ||||||||||||||
| In millions of dollars, except per share amounts | 2021 | 2020 | ||||||||||||
| Revenues | ||||||||||||||
| Interest revenue | $ | i 12,534 | $ | i 17,139 | ||||||||||
| Interest expense | i 2,368 | i 5,647 | ||||||||||||
| Net interest revenue | $ | i 10,166 | $ | i 11,492 | ||||||||||
| Commissions and fees | $ | i 3,670 | $ | i 3,021 | ||||||||||
| Principal transactions | i 3,913 | i 5,261 | ||||||||||||
| Administration and other fiduciary fees | i 961 | i 854 | ||||||||||||
| Realized gains on sales of investments, net | i 401 | i 432 | ||||||||||||
| Impairment losses on investments: | ||||||||||||||
| Impairment losses on investments and other assets | ( i 69) | ( i 55) | ||||||||||||
Provision
for credit losses on AFS debt securities(1) | i — | i — | ||||||||||||
| Net impairment losses recognized in earnings | $ | ( i 69) | $ | ( i 55) | ||||||||||
| Other revenue (loss) | $ | i 285 | $ | ( i 274) | ||||||||||
| Total non-interest revenues | $ | i 9,161 | $ | i 9,239 | ||||||||||
| Total revenues, net of interest expense | $ | i 19,327 | $ | i 20,731 | ||||||||||
| Provisions for credit losses and for benefits and claims | ||||||||||||||
| Provision for credit losses on loans | $ | ( i 1,479) | $ | i 6,377 | ||||||||||
| Provision for credit losses on held-to-maturity (HTM) debt securities | ( i 11) | i 6 | ||||||||||||
| Provision for credit losses on other assets | i 9 | ( i 4) | ||||||||||||
| Policyholder benefits and claims | i 52 | i 24 | ||||||||||||
| Provision for credit losses on unfunded lending commitments | ( i 626) | i 557 | ||||||||||||
| Total provisions for credit losses and for benefits and claims | $ | ( i 2,055) | $ | i 6,960 | ||||||||||
| Operating expenses | ||||||||||||||
| Compensation and benefits | $ | i 6,001 | $ | i 5,654 | ||||||||||
| Premises and equipment | i 576 | i 565 | ||||||||||||
| Technology/communication | i 1,852 | i 1,723 | ||||||||||||
| Advertising and marketing | i 270 | i 328 | ||||||||||||
| Other operating | i 2,374 | i 2,373 | ||||||||||||
| Total operating expenses | $ | i 11,073 | $ | i 10,643 | ||||||||||
| Income from continuing operations before income taxes | $ | i 10,309 | $ | i 3,128 | ||||||||||
| Provision for income taxes | i 2,332 | i 580 | ||||||||||||
| Income from continuing operations | $ | i 7,977 | $ | i 2,548 | ||||||||||
| Discontinued operations | ||||||||||||||
| Loss from discontinued operations | $ | ( i 2) | $ | ( i 18) | ||||||||||
| Benefit for income taxes | i — | i — | ||||||||||||
| Income (loss) from discontinued operations, net of taxes | $ | ( i 2) | $ | ( i 18) | ||||||||||
| Net income before attribution of noncontrolling interests | $ | i 7,975 | $ | i 2,530 | ||||||||||
| Noncontrolling interests | i 33 | ( i 6) | ||||||||||||
| Citigroup’s net income | $ | i 7,942 | $ | i 2,536 | ||||||||||
Basic
earnings per share(2) | ||||||||||||||
| Income from continuing operations | $ | i 3.64 | $ | i 1.07 | ||||||||||
| Income from discontinued operations, net of taxes | i — | ( i 0.01) | ||||||||||||
| Net income | $ | i 3.64 | $ | i 1.06 | ||||||||||
Weighted
average common shares outstanding (in millions) | i 2,082.0 | i 2,097.9 | ||||||||||||
Diluted
earnings per share(2) | ||||||||||||||
| Income from continuing operations | $ | i 3.62 | $ | i 1.06 | ||||||||||
| Income (loss) from discontinued operations, net of taxes | i — | ( i 0.01) | ||||||||||||
| Net income | $ | i 3.62 | $ | i 1.06 | ||||||||||
Adjusted
weighted average common shares outstanding (in millions) | i 2,096.6 | i 2,113.7 | ||||||||||||
| CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME | Citigroup Inc. and Subsidiaries | |||||||
| (UNAUDITED) | ||||||||
| Three Months Ended March 31, | ||||||||||||||
| In millions of dollars | 2021 | 2020 | ||||||||||||
| Citigroup’s net income | $ | i 7,942 | $ | i 2,536 | ||||||||||
Add:
Citigroup’s other comprehensive income(1) | ||||||||||||||
Net change in unrealized gains and losses on debt securities, net of taxes(1) | $ | ( i 1,785) | $ | i 3,128 | ||||||||||
Net
change in debt valuation adjustment (DVA), net of taxes(2) | ( i 42) | i 3,140 | ||||||||||||
| Net change in cash flow hedges, net of taxes | ( i 556) | i 1,897 | ||||||||||||
| Benefit plans liability adjustment, net of taxes | i 714 | ( i 286) | ||||||||||||
| Net change in foreign currency translation adjustment, net of taxes and hedges | ( i 1,274) | ( i 4,109) | ||||||||||||
| Net change in excluded component of fair value hedges, net of taxes | ( i 10) | i 27 | ||||||||||||
| Citigroup’s total other comprehensive income (loss) | $ | ( i 2,953) | $ | i 3,797 | ||||||||||
| Citigroup’s total comprehensive income | $ | i 4,989 | $ | i 6,333 | ||||||||||
| Add:
Other comprehensive loss attributable to noncontrolling interests | $ | ( i 58) | $ | ( i 51) | ||||||||||
| Add: Net income (loss) attributable to noncontrolling interests | i 33 | ( i 6) | ||||||||||||
| Total comprehensive income | $ | i 4,964 | $ | i 6,276 | ||||||||||
| CONSOLIDATED BALANCE SHEET | Citigroup Inc. and Subsidiaries | |||||||
| March 31, | ||||||||
| 2021 | December 31, | |||||||
| In millions of dollars | (Unaudited) | 2020 | ||||||
| Assets | ||||||||
| Cash and due from banks (including segregated cash and other deposits) | $ | i 26,204 | $ | i 26,349 | ||||
| Deposits with banks, net of allowance | i 298,478 | i 283,266 | ||||||
Securities
borrowed and purchased under agreements to resell (including $ i 198,908 and $ i 185,204
as of March 31, 2021 and December 31, 2020, respectively, at fair value), net of allowance | i 315,072 | i 294,712 | ||||||
| Brokerage receivables, net of allowance | i 60,465 | i 44,806 | ||||||
Trading
account assets (including $ i 175,125 and $ i 168,967 pledged to creditors at March 31, 2021 and December 31,
2020, respectively) | i 360,659 | i 375,079 | ||||||
Investments: | ||||||||
Available-for-sale
debt securities (including $ i 6,740 and $ i 5,921 pledged to creditors as of March 31,
2021 and December 31, 2020, respectively), net of allowance | i 304,036 | i 335,084 | ||||||
Held-to-maturity
debt securities (including $ i 1,031 and $ i 547 pledged to creditors as of March 31, 2021 and December 31,
2020, respectively), net of allowance | i 161,742 | i 104,943 | ||||||
Equity
securities (including $ i 784 and $ i 1,066 at fair value as of March 31, 2021 and December 31, 2020, respectively) | i 7,181 | i 7,332 | ||||||
Total
investments | $ | i 472,959 | $ | i 447,359 | ||||
| Loans: | ||||||||
Consumer
(including $ i 15 and $ i 14 as of March 31, 2021 and December 31, 2020, respectively, at fair value) | i 274,034 | i 288,839 | ||||||
Corporate
(including $ i 7,510 and $ i 6,840 as of March 31, 2021 and December 31, 2020, respectively, at fair value) | i 391,954 | i 387,044 | ||||||
| Loans, net of unearned income | $ | i 665,988 | $ | i 675,883 | ||||
| Allowance for credit losses on loans (ACLL) | ( i 21,638) | ( i 24,956) | ||||||
| Total loans, net | $ | i 644,350 | $ | i 650,927 | ||||
| Goodwill | i 21,905 | i 22,162 | ||||||
Intangible
assets (including MSRs of $ i 433 and $ i 336 as of March 31, 2021 and December 31, 2020, respectively,
at fair value) | i 4,741 | i 4,747 | ||||||
Other
assets (including $ i 10,175 and $ i 14,613 as of March 31, 2021 and December 31, 2020, respectively, at fair value), net of allowance | i 109,433 | i 110,683 | ||||||
| Total assets | $ | i 2,314,266 | $ | i 2,260,090 | ||||
| March 31, | ||||||||
| 2021 | December 31, | |||||||
| In millions of dollars | (Unaudited) | 2020 | ||||||
| Assets of consolidated VIEs to be used to settle obligations of consolidated VIEs | ||||||||
| Cash and due from banks | $ | i 156 | $ | i 281 | ||||
| Trading account assets | i 7,659 | i 8,104 | ||||||
| Investments | i 903 | i 837 | ||||||
| Loans, net of unearned income | ||||||||
Consumer | i 34,514 | i 37,561 | ||||||
Corporate | i 16,789 | i 17,027 | ||||||
| Loans, net of unearned income | $ | i 51,303 | $ | i 54,588 | ||||
| Allowance for credit losses on loans (ACLL) | ( i 3,416) | ( i 3,794) | ||||||
| Total loans, net | $ | i 47,887 | $ | i 50,794 | ||||
| Other assets | i 51 | i 43 | ||||||
| Total assets of consolidated VIEs to be used to settle obligations of consolidated VIEs | $ | i 56,656 | $ | i 60,059 | ||||
| March 31, | ||||||||
| 2021 | December 31, | |||||||
| In millions of dollars, except shares and per share amounts | (Unaudited) | 2020 | ||||||
| Liabilities | ||||||||
| Non-interest-bearing deposits in U.S. offices | $ | i 138,192 | $ | i 126,942 | ||||
Interest-bearing
deposits in U.S. offices (including $ i 962 and $ i 879 as of March 31, 2021 and December 31, 2020,
respectively, at fair value) | i 497,335 | i 503,213 | ||||||
| Non-interest-bearing deposits in offices outside the U.S. | i 101,662 | i 100,543 | ||||||
Interest-bearing
deposits in offices outside the U.S. (including $ i 2,178 and $ i 1,079 as of March 31,
2021 and December 31, 2020, respectively, at fair value) | i 563,786 | i 549,973 | ||||||
| Total deposits | $ | i 1,300,975 | $ | i 1,280,671 | ||||
Securities
loaned and sold under agreements to repurchase (including $ i 68,713 and $ i 60,206
as of March 31, 2021 and December 31, 2020, respectively, at fair value) | i 219,168 | i 199,525 | ||||||
| Brokerage payables | i 60,907 | i 50,484 | ||||||
| Trading account liabilities | i 179,117 | i 168,027 | ||||||
Short-term
borrowings (including $ i 7,406 and $ i 4,683 as of March 31, 2021 and December 31, 2020, respectively, at fair value) | i 32,087 | i 29,514 | ||||||
Long-term
debt (including $ i 68,071 and $ i 67,063 as of March 31, 2021 and December 31, 2020, respectively, at fair value) | i 256,335 | i 271,686 | ||||||
Other
liabilities (including $ i 2,675 and $ i 6,835 as of March 31, 2021 and December 31, 2020, respectively, at fair value), including allowance | i 62,404 | i 59,983 | ||||||
| Total liabilities | $ | i 2,110,993 | $ | i 2,059,890 | ||||
| Stockholders’ equity | ||||||||
Preferred stock ($ i i 1.00 /
par value; authorized shares: i i 30 /
million), issued shares: as of March 31, 2021— i 811,200 and as of December 31, 2020— i 779,200,
at aggregate liquidation value | $ | i 20,280 | $ | i 19,480 | ||||
Common
stock ($ i i 0.01 / par value; authorized shares: i i 6 /
billion), issued shares: as of March 31, 2021— i 3,099,690,888 and as of December 31, 2020— i 3,099,763,661 | i 31 | i 31 | ||||||
| Additional paid-in capital | i 107,694 | i 107,846 | ||||||
| Retained earnings | i 174,816 | i 168,272 | ||||||
Treasury
stock, at cost: March 31, 2021— i 1,032,643,369 shares and December 31, 2020— i 1,017,674,452 shares | ( i 65,261) | ( i 64,129) | ||||||
Accumulated
other comprehensive income (loss) (AOCI) | ( i 35,011) | ( i 32,058) | ||||||
| Total Citigroup stockholders’ equity | $ | i 202,549 | $ | i 199,442 | ||||
| Noncontrolling interests | i 724 | i 758 | ||||||
| Total equity | $ | i 203,273 | $ | i 200,200 | ||||
| Total liabilities and equity | $ | i 2,314,266 | $ | i 2,260,090 | ||||
| March 31, | ||||||||
| 2021 | December 31, | |||||||
| In millions of dollars | (Unaudited) | 2020 | ||||||
| Liabilities
of consolidated VIEs for which creditors or beneficial interest holders do not have recourse to the general credit of Citigroup | ||||||||
| Short-term borrowings | $ | i 9,344 | $ | i 9,278 | ||||
Long-term
debt | i 15,699 | i 20,405 | ||||||
| Other liabilities | i 384 | i 463 | ||||||
| Total liabilities of consolidated VIEs for which creditors
or beneficial interest holders do not have recourse to the general credit of Citigroup | $ | i 25,427 | $ | i 30,146 | ||||
| CONSOLIDATED STATEMENT OF CHANGES IN STOCKHOLDERS’ EQUITY (UNAUDITED) | Citigroup Inc. and Subsidiaries | |||||||
| Three Months Ended March 31, | ||||||||||||||
| In millions of dollars | 2021 | 2020 | ||||||||||||
| Preferred stock at aggregate liquidation value | ||||||||||||||
| Balance, beginning of period | $ | i 19,480 | $ | i 17,980 | ||||||||||
| Issuance of new preferred stock | i 2,300 | i 1,500 | ||||||||||||
| Redemption of preferred stock | ( i 1,500) | ( i 1,500) | ||||||||||||
| Balance, end of period | $ | i 20,280 | $ | i 17,980 | ||||||||||
| Common stock and additional paid-in capital (APIC) | ||||||||||||||
| Balance, beginning of period | $ | i 107,877 | $ | i 107,871 | ||||||||||
| Employee benefit plans | ( i 175) | ( i 292) | ||||||||||||
| Preferred stock issuance costs (new issuances, net of reclassifications to retained earnings for redemptions) | i 23 | i 2 | ||||||||||||
| Other | — | — | ||||||||||||
| Balance, end of period | $ | i 107,725 | $ | i 107,581 | ||||||||||
| Retained earnings | ||||||||||||||
| Balance, beginning of period | $ | i 168,272 | $ | i 165,369 | ||||||||||
Adjustments
to opening balance, net of taxes(1) | ||||||||||||||
| Financial instruments—credit losses (CECL adoption) | — | ( i 3,076) | ||||||||||||
| Variable post-charge-off third-party collection costs | — | i 330 | ||||||||||||
| Adjusted balance, beginning of period | $ | i 168,272 | $ | i 162,623 | ||||||||||
| Citigroup’s net income | i 7,942 | i 2,536 | ||||||||||||
Common
dividends(2) | ( i 1,074) | ( i 1,081) | ||||||||||||
| Preferred dividends | ( i 292) | ( i 291) | ||||||||||||
| Other (primarily reclassifications from APIC for preferred issuance costs on redemptions) | ( i 32) | ( i 5) | ||||||||||||
| Balance, end of period | $ | i 174,816 | $ | i 163,782 | ||||||||||
| Treasury stock, at cost | ||||||||||||||
| Balance, beginning of period | $ | ( i 64,129) | $ | ( i 61,660) | ||||||||||
Employee
benefit plans(3) | i 468 | i 438 | ||||||||||||
Treasury
stock acquired(4) | ( i 1,600) | ( i 2,925) | ||||||||||||
| Balance, end of period | $ | ( i 65,261) | $ | ( i 64,147) | ||||||||||
| Citigroup’s accumulated other comprehensive income (loss) | ||||||||||||||
| Balance, beginning of period | $ | ( i 32,058) | $ | ( i 36,318) | ||||||||||
| Citigroup’s total other comprehensive income | ( i 2,953) | i 3,797 | ||||||||||||
| Balance, end of period | $ | ( i 35,011) | $ | ( i 32,521) | ||||||||||
| Total Citigroup common stockholders’ equity | $ | i 182,269 | $ | i 174,695 | ||||||||||
| Total Citigroup stockholders’ equity | $ | i 202,549 | $ | i 192,675 | ||||||||||
| Noncontrolling interests | ||||||||||||||
| Balance, beginning of period | $ | i 758 | $ | i 704 | ||||||||||
Transactions
between noncontrolling-interest shareholders and the related consolidated subsidiary | — | ( i 6) | ||||||||||||
Transactions between Citigroup and the noncontrolling-interest
shareholders | — | — | ||||||||||||
Net income attributable to noncontrolling-interest shareholders | i 33 | ( i 6) | ||||||||||||
| Distributions paid to noncontrolling-interest shareholders | — | — | ||||||||||||
Other comprehensive income (loss) attributable to noncontrolling-interest shareholders | ( i 58) | ( i 51) | ||||||||||||
| Other | ( i 9) | i 10 | ||||||||||||
| Net change in noncontrolling interests | $ | ( i 34) | $ | ( i 53) | ||||||||||
| Balance, end of period | $ | i 724 | $ | i 651 | ||||||||||
| Total equity | $ | i 203,273 | $ | i 193,326 | ||||||||||
CONSOLIDATED
STATEMENT OF CASH FLOWS | Citigroup Inc. and Subsidiaries | |||||||
| (UNAUDITED) | ||||||||
| Three Months Ended March 31, | ||||||||
| In millions of dollars | 2021 | 2020 | ||||||
| Cash flows from operating activities of continuing operations | ||||||||
| Net income before attribution of noncontrolling interests | $ | i 7,975 | $ | i 2,530 | ||||
| Net income attributable to noncontrolling interests | i 33 | ( i 6) | ||||||
| Citigroup’s net income | $ | i 7,942 | $ | i 2,536 | ||||
| Loss from discontinued operations, net of taxes | ( i 2) | ( i 18) | ||||||
| Income from continuing operations—excluding noncontrolling interests | $ | i 7,944 | $ | i 2,554 | ||||
| Adjustments to reconcile net income to net cash provided by (used in) operating activities of continuing operations | ||||||||
| Depreciation and amortization | i 962 | i 927 | ||||||
| Provisions for credit losses on loans and unfunded lending commitments | ( i 2,105) | i 6,934 | ||||||
| Realized gains from sales of investments | ( i 401) | ( i 432) | ||||||
| Impairment losses on investments and other assets | i 69 | i 55 | ||||||
| Change in trading account assets | i 14,405 | ( i 88,875) | ||||||
| Change in trading account liabilities | i 11,090 | i 44,101 | ||||||
| Change in brokerage receivables net of brokerage payables | ( i 5,236) | ( i 2,931) | ||||||
| Change in loans HFS | i 1,561 | ( i 1,393) | ||||||
| Change in other assets | ( i 383) | ( i 3,123) | ||||||
| Change in other liabilities | i 3,047 | i 1,605 | ||||||
| Other, net | ( i 7,755) | i 15,045 | ||||||
| Total adjustments | $ | i 15,254 | $ | ( i 28,087) | ||||
| Net cash provided by (used in) operating activities of continuing operations | $ | i 23,198 | $ | ( i 25,533) | ||||
| Cash flows from investing activities of continuing operations | ||||||||
Change in securities borrowed and purchased under agreements to resell | $ | ( i 20,360) | $ | ( i 11,214) | ||||
| Change in loans | i 9,933 | ( i 26,743) | ||||||
| Proceeds from sales and securitizations of loans | i 323 | i 596 | ||||||
| Purchases of investments | ( i 111,187) | ( i 108,658) | ||||||
| Proceeds from sales of investments | i 46,049 | i 44,399 | ||||||
| Proceeds from maturities of investments | i 35,088 | i 29,203 | ||||||
| Capital expenditures on premises and equipment and capitalized software | ( i 830) | ( i 460) | ||||||
| Proceeds
from sales of premises and equipment, subsidiaries and affiliates and repossessed assets | i 10 | i 2 | ||||||
Other,
net | i 40 | i 18 | ||||||
| Net cash used in investing activities of continuing operations | $ | ( i 40,934) | $ | ( i 72,857) | ||||
| Cash flows from financing activities of continuing operations | ||||||||
| Dividends paid | $ | ( i 1,356) | $ | ( i 1,365) | ||||
| Issuance of preferred stock | i 2,300 | i 1,500 | ||||||
| Redemption of preferred stock | ( i 1,500) | ( i 1,500) | ||||||
Treasury
stock acquired | ( i 1,481) | ( i 2,925) | ||||||
| Stock tendered for payment of withholding taxes | ( i 312) | ( i 406) | ||||||
Change
in securities loaned and sold under agreements to repurchase | i 19,643 | i 55,985 | ||||||
| Issuance of long-term debt | i 15,516 | i 28,927 | ||||||
| Payments and redemptions of long-term debt | ( i 22,432) | ( i 13,081) | ||||||
| Change in deposits | i 20,304 | i 114,321 | ||||||
| Change in short-term borrowings | i 2,573 | i 9,902 | ||||||
| CONSOLIDATED STATEMENT OF CASH FLOWS | ||||||||
| (UNAUDITED) (Continued) | ||||||||
| Three Months Ended March 31, | ||||||||
| In millions of dollars | 2021 | 2020 | ||||||
| Net cash provided by financing activities of continuing operations | $ | i 33,255 | $ | i 191,358 | ||||
| Effect of exchange rate changes on cash and due from banks | $ | ( i 452) | $ | ( i 967) | ||||
| Change in cash, due from banks and deposits with banks | i 15,067 | i 92,001 | ||||||
| Cash, due from banks and deposits with banks at beginning of period | i 309,615 | i 193,919 | ||||||
| Cash, due from banks and deposits with banks at end of period | $ | i 324,682 | $ | i 285,920 | ||||
| Cash and due from banks (including segregated cash and other deposits) | $ | i 26,204 | $ | i 23,755 | ||||
| Deposits with banks, net of allowance | i 298,478 | i 262,165 | ||||||
| Cash, due from banks and deposits with banks at end of period | $ | i 324,682 | $ | i 285,920 | ||||
| Supplemental disclosure of cash flow information for continuing operations | ||||||||
| Cash paid during the period for income taxes | $ | i 950 | $ | i 1,441 | ||||
| Cash paid during the period for interest | i 1,729 | i 5,424 | ||||||
Non-cash
investing activities(1) | ||||||||
Transfers to loans HFS (Other assets) from loans | $ | i 636 | $ | i 224 | ||||
| Three Months Ended March 31, | ||||||||||||||||||||||||||
| In millions of dollars | 2021 | 2020 | ||||||||||||||||||||||||
Total
revenues, net of interest expense | $ | i — | $ | i — | ||||||||||||||||||||||
Loss
from discontinued operations(1) | $ | ( i 2) | $ | ( i 18) | ||||||||||||||||||||||
| Benefit for income taxes | i — | i — | ||||||||||||||||||||||||
| Income (loss) from discontinued operations, net of taxes | $ | ( i 2) | $ | ( i 18) | ||||||||||||||||||||||
| Three Months Ended March 31, | ||||||||||||||||||||||||||
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 | March
31, 2021 | December 31, 2020 | ||||||||||||||||||
| Global Consumer Banking | $ | i 7,037 | $ | i 8,174 | $ | i 658 | $ | ( i 266) | $ | i 2,174 | $ | ( i 741) | $ | i 439 | $ | i 434 | ||||||||||
| Institutional Clients Group | i 12,220 | i 12,484 | i 1,736 | i 1,044 | i 5,972 | i 3,626 | i 1,776 | i 1,730 | ||||||||||||||||||
| Corporate/Other | i 70 | i 73 | ( i 62) | ( i 198) | ( i 169) | ( i 337) | i 99 | i 96 | ||||||||||||||||||
| Total | $ | i 19,327 | $ | i 20,731 | $ | i 2,332 | $ | i 580 | $ | i 7,977 | $ | i 2,548 | $ | i 2,314 | $ | i 2,260 | ||||||||||
| Three Months Ended March 31, | |||||||||||||||||
| In millions of dollars | 2021 | 2020 | |||||||||||||||
| Interest revenue | |||||||||||||||||
| Loan interest, including fees | $ | i 8,909 | $ | i 11,250 | |||||||||||||
| Deposits with banks | i 145 | i 527 | |||||||||||||||
| Securities borrowed and purchased under agreements to resell | i 294 | i 1,208 | |||||||||||||||
| Investments, including dividends | i 1,752 | i 2,281 | |||||||||||||||
Trading
account assets(1) | i 1,337 | i 1,590 | |||||||||||||||
| Other interest-bearing assets | i 97 | i 283 | |||||||||||||||
| Total interest revenue | $ | i 12,534 | $ | i 17,139 | |||||||||||||
| Interest expense | |||||||||||||||||
Deposits(2) | $ | i 1,052 | $ | i 2,614 | |||||||||||||
| Securities loaned and sold under agreements to repurchase | i 253 | i 1,085 | |||||||||||||||
Trading
account liabilities(1) | i 114 | i 239 | |||||||||||||||
| Short-term borrowings and other interest-bearing liabilities | i 31 | i 384 | |||||||||||||||
| Long-term debt | i 918 | i 1,325 | |||||||||||||||
| Total interest expense | $ | i 2,368 | $ | i 5,647 | |||||||||||||
| Net interest revenue | $ | i 10,166 | $ | i 11,492 | |||||||||||||
| Provision for credit losses on loans | ( i 1,479) | i 6,377 | |||||||||||||||
| Net interest revenue after provision for credit losses on loans | $ | i 11,645 | $ | i 5,115 | |||||||||||||
| Three Months Ended March 31, | ||||||||||||||||||||||||||
| 2021 | ||||||||||||||||||||||||||
| In millions of dollars | ICG | GCB | Corporate/Other | Total | ||||||||||||||||||||||
| Investment banking | $ | i 1,624 | $ | i — | $ | i — | $ | i 1,624 | ||||||||||||||||||
| Brokerage commissions | i 615 | i 327 | i — | i 942 | ||||||||||||||||||||||
| Credit- and bank-card income | ||||||||||||||||||||||||||
| Interchange fees | i 158 | i 1,906 | i — | i 2,064 | ||||||||||||||||||||||
| Card-related loan fees | i 5 | i 177 | i — | i 182 | ||||||||||||||||||||||
Card
rewards and partner payments(1) | ( i 75) | ( i 2,096) | i — | ( i 2,171) | ||||||||||||||||||||||
Deposit-related
fees(2) | i 244 | i 85 | i — | i 329 | ||||||||||||||||||||||
| Transactional service fees | i 241 | i 24 | i — | i 265 | ||||||||||||||||||||||
Corporate
finance(3) | i 158 | i — | i — | i 158 | ||||||||||||||||||||||
| Insurance distribution revenue | i 5 | i 130 | i — | i 135 | ||||||||||||||||||||||
| Insurance premiums | i — | i 20 | i — | i 20 | ||||||||||||||||||||||
| Loan servicing | i 12 | i 7 | i 4 | i 23 | ||||||||||||||||||||||
| Other | i 41 | i 58 | i — | i 99 | ||||||||||||||||||||||
Total
commissions and fees(4) | $ | i 3,028 | $ | i 638 | $ | i 4 | $ | i 3,670 | ||||||||||||||||||
| Three Months Ended March 31, | ||||||||||||||||||||||||||
| 2020 | ||||||||||||||||||||||||||
| In millions of dollars | ICG | GCB | Corporate/Other | Total | ||||||||||||||||||||||
| Investment banking | $ | i 1,040 | $ | i — | $ | i — | $ | i 1,040 | ||||||||||||||||||
| Brokerage commissions | i 577 | i 249 | i — | i 826 | ||||||||||||||||||||||
| Credit- and bank-card income | ||||||||||||||||||||||||||
| Interchange fees | i 261 | i 1,917 | i — | i 2,178 | ||||||||||||||||||||||
| Card-related loan fees | i 11 | i 166 | i — | i 177 | ||||||||||||||||||||||
Card
rewards and partner payments(1) | ( i 149) | ( i 2,093) | i — | ( i 2,242) | ||||||||||||||||||||||
Deposit-related
fees(2) | i 233 | i 115 | i — | i 348 | ||||||||||||||||||||||
| Transactional service fees | i 227 | i 24 | i — | i 251 | ||||||||||||||||||||||
Corporate
finance(3) | i 146 | i — | i — | i 146 | ||||||||||||||||||||||
| Insurance distribution revenue | i 4 | i 125 | i — | i 129 | ||||||||||||||||||||||
| Insurance premiums | i — | i 43 | i — | i 43 | ||||||||||||||||||||||
| Loan servicing | i 20 | i 11 | i 8 | i 39 | ||||||||||||||||||||||
| Other | i 30 | i 56 | i — | i 86 | ||||||||||||||||||||||
Total
commissions and fees(4) | $ | i 2,400 | $ | i 613 | $ | i 8 | $ | i 3,021 | ||||||||||||||||||
| Three Months Ended March 31, | ||||||||||||||||||||||||||
| 2021 | ||||||||||||||||||||||||||
| In millions of dollars | ICG | GCB | Corporate/Other | Total | ||||||||||||||||||||||
| Custody fees | $ | i 451 | $ | i 6 | $ | i — | $ | i 457 | ||||||||||||||||||
| Fiduciary fees | i 192 | i 167 | i — | i 359 | ||||||||||||||||||||||
| Guarantee fees | i 142 | i 2 | i 1 | i 145 | ||||||||||||||||||||||
Total
administration and other fiduciary fees(1) | $ | i 785 | $ | i 175 | $ | i 1 | $ | i 961 | ||||||||||||||||||
| Three Months Ended March 31, | ||||||||||||||||||||||||||
| 2020 | ||||||||||||||||||||||||||
| In millions of dollars | ICG | GCB | Corporate/Other | Total | ||||||||||||||||||||||
| Custody fees | $ | i 366 | $ | i 8 | $ | i 15 | $ | i 389 | ||||||||||||||||||
| Fiduciary fees | i 172 | i 156 | i — | i 328 | ||||||||||||||||||||||
| Guarantee fees | i 134 | i 2 | i 1 | i 137 | ||||||||||||||||||||||
Total
administration and other fiduciary fees(1) | $ | i 672 | $ | i 166 | $ | i 16 | $ | i 854 | ||||||||||||||||||
| Three Months Ended March 31, | ||||||||||||||
| In millions of dollars | 2021 | 2020 | ||||||||||||
Interest rate risks(1) | $ | i 1,433 | $ | i 1,838 | ||||||||||
Foreign
exchange risks(2) | i 962 | i 1,066 | ||||||||||||
Equity
risks(3) | i 845 | i 819 | ||||||||||||
Commodity
and other risks(4) | i 200 | i 395 | ||||||||||||
Credit
products and risks(5) | i 473 | i 1,143 | ||||||||||||
| Total | $ | i 3,913 | $ | i 5,261 | ||||||||||
| Three Months Ended March 31, | ||||||||||||||||||||||||||||||||||||||
| Pension plans | Postretirement benefit plans | |||||||||||||||||||||||||||||||||||||
| U.S. plans | Non-U.S. plans | U.S. plans | Non-U.S. plans | |||||||||||||||||||||||||||||||||||
| In millions of dollars | 2021 | 2020 | 2021 | 2020 | 2021 | 2020 | 2021 | 2020 | ||||||||||||||||||||||||||||||
| Benefits earned during the period | $ | i — | $ | i — | $ | i 39 | $ | i 37 | $ | i — | $ | i — | $ | i 2 | $ | i 2 | ||||||||||||||||||||||
| Interest cost on benefit obligation | i 82 | i 106 | i 62 | i 64 | i 3 | i 5 | i 25 | i 24 | ||||||||||||||||||||||||||||||
| Expected return on assets | ( i 182) | ( i 208) | ( i 61) | ( i 65) | ( i 4) | ( i 5) | ( i 22) | ( i 20) | ||||||||||||||||||||||||||||||
| Amortization of unrecognized: | ||||||||||||||||||||||||||||||||||||||
| Prior service cost (benefit) | i 1 | i 1 | ( i 1) | ( i 1) | ( i 2) | i — | ( i 2) | ( i 2) | ||||||||||||||||||||||||||||||
| Net actuarial loss | i 62 | i 56 | i 18 | i 17 | i — | i — | i 5 | i 5 | ||||||||||||||||||||||||||||||
| Total net (benefit) expense | $ | ( i 37) | $ | ( i 45) | $ | i 57 | $ | i 52 | $ | ( i 3) | $ | i — | $ | i 8 | $ | i 9 | ||||||||||||||||||||||
| Three Months Ended March 31, 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 | $ | i 13,815 | $ | i 8,629 | $ | i 559 | $ | i 1,390 | ||||||
| Plans measured annually | ( i 25) | ( i 2,248) | i — | ( i 277) | ||||||||||
Projected
benefit obligation at beginning of year—Significant Plans | $ | i 13,790 | $ | i 6,381 | $ | i 559 | $ | i 1,113 | ||||||
| Benefits earned during the period | i — | i 23 | i — | i 1 | ||||||||||
| Interest cost on benefit obligation | $ | i 82 | $ | i 52 | i 3 | i 22 | ||||||||
Actuarial
gain(1) | ( i 849) | ( i 428) | ( i 31) | ( i 123) | ||||||||||
| Benefits paid, net of participants’ contributions and government subsidy | $ | ( i 216) | $ | ( i 84) | ( i 9) | ( i 18) | ||||||||
| Foreign exchange impact and other | i — | ( i 135) | i — | ( i 28) | ||||||||||
| Projected benefit obligation at period end—Significant Plans | $ | i 12,807 | $ | i 5,809 | $ | i 522 | $ | i 967 | ||||||
| Change in plan assets | ||||||||||||||
| Plan assets at fair value at beginning of year | $ | i 13,309 | $ | i 7,831 | $ | i 331 | $ | i 1,146 | ||||||
| Plans measured annually | i — | ( i 1,500) | i — | ( i 8) | ||||||||||
Plan
assets at fair value at beginning of year—Significant Plans | $ | i 13,309 | $ | i 6,331 | $ | i 331 | $ | i 1,138 | ||||||
| Actual return on plan assets | ( i 232) | ( i 230) | ( i 4) | i 4 | ||||||||||
| Company contributions, net of reimbursements | i 13 | i 18 | i 5 | i — | ||||||||||
| Benefits paid, net of participants’ contributions and government subsidy | ( i 216) | ( i 84) | ( i 9) | ( i 18) | ||||||||||
| Foreign exchange impact and other | i — | ( i 108) | i — | ( i 30) | ||||||||||
Plan
assets at fair value at period end—Significant Plans | $ | i 12,874 | $ | i 5,927 | $ | i 323 | $ | i 1,094 | ||||||
| Funded status of the Significant Plans | ||||||||||||||
Qualified plans(2) | $ | i 730 | $ | i 118 | $ | ( i 199) | $ | i 127 | ||||||
Nonqualified
plans(3) | ( i 663) | i — | i — | i — | ||||||||||
Funded
status of the plans at period end—Significant Plans | $ | i 67 | $ | i 118 | $ | ( i 199) | $ | i 127 | ||||||
| Net amount recognized at period end | ||||||||||||||
| Benefit asset | $ | i 730 | $ | i 705 | $ | i — | $ | i 127 | ||||||
| Benefit liability | ( i 663) | ( i 587) | ( i 199) | i — | ||||||||||
Net
amount recognized on the balance sheet—Significant Plans | $ | i 67 | $ | i 118 | $ | ( i 199) | $ | i 127 | ||||||
Amounts
recognized in AOCI at period end | ||||||||||||||
| Prior service benefit | $ | i — | $ | i 1 | $ | i 99 | $ | i 55 | ||||||
| Net actuarial (loss) gain | ( i 6,627) | ( i 1,043) | i 78 | ( i 221) | ||||||||||
Net
amount recognized in equity (pretax)—Significant Plans | $ | ( i 6,627) | $ | ( i 1,042) | $ | i 177 | $ | ( i 166) | ||||||
Accumulated
benefit obligation at period end—Significant Plans | $ | i 12,804 | $ | i 5,211 | $ | i 522 | $ | i 967 | ||||||
| In millions of dollars | Three Months Ended March 31, 2021 | For Year Ended December 31, 2020 | |||||||||
Beginning
of period balance, net of tax(1)(2) | $ | ( i 6,864) | $ | ( i 6,809) | |||||||
| Actuarial assumptions changes and plan experience | i 1,430 | ( i 1,464) | |||||||||
| Net asset (loss) gain due to difference between actual and expected returns | ( i 718) | i 1,076 | |||||||||
| Net amortization | i 81 | i 318 | |||||||||
| Prior service credit | i — | i 108 | |||||||||
Curtailment/settlement
loss(3) | i — | ( i 8) | |||||||||
| Foreign exchange impact and other | i 114 | ( i 108) | |||||||||
| Change in deferred taxes, net | ( i 193) | i 23 | |||||||||
| Change, net of tax | $ | i 714 | $ | ( i 55) | |||||||
End
of period balance, net of tax(1)(2) | $ | ( i 6,150) | $ | ( i 6,864) | |||||||
| Net (benefit) expense assumed discount rates during the period | Three Months Ended | ||||||||||
| Mar. 31, 2021 | Dec. 31, 2020 | ||||||||||
| U.S. plans | |||||||||||
| Qualified pension | i 2.45 | % | i 2.55 | % | |||||||
| Nonqualified pension | i 2.35 | i 2.50 | |||||||||
| Postretirement | i 2.20 | i 2.35 | |||||||||
| Non-U.S. plans | |||||||||||
| Pension | i 0.05- i 8.15 | i 0.05- i 8.55 | |||||||||
| Weighted average | i 3.60 | i 3.74 | |||||||||
| Postretirement | i 8.55 | i 9.00 | |||||||||
| Plan obligations assumed discount rates at period ended | Mar. 31, 2021 | Dec. 31, 2020 | Mar. 31, 2020 | |||||||||||
| U.S. plans | ||||||||||||||
| Qualified pension | i 3.10 | % | i 2.45 | % | i 3.20 | % | ||||||||
| Nonqualified pension | i 3.00 | i 2.35 | i 3.25 | |||||||||||
| Postretirement | i 2.85 | i 2.20 | i 3.20 | |||||||||||
| Non-U.S. plans | ||||||||||||||
| Pension | i 0.25- i 9.30 | i 0.05- i 8.15 | i 0.45- i 9.45 | |||||||||||
| Weighted average | i 3.59 | i 3.60 | i 4.38 | |||||||||||
| Postretirement | i 9.70 | i 8.55 | i 9.75 | |||||||||||
| Three Months Ended March 31, 2021 | ||||||||||||||
| In millions of dollars | One-percentage-point increase | One-percentage-point decrease | ||||||||||||
| Pension | ||||||||||||||
| U.S. plans | $ | i 9 | $ | ( i 15) | ||||||||||
| Non-U.S. plans | i — | i 5 | ||||||||||||
| Postretirement | ||||||||||||||
| U.S. plans | i — | ( i 1) | ||||||||||||
| Non-U.S. plans | ( i 3) | i 3 | ||||||||||||
| 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 three months ended March 31 | $ | i 14 | $ | i 14 | $ | i 37 | $ | i 37 | $ | i 5 | $ | i — | $ | i 2 | $ | i 2 | ||||||||||||||||||||||
| Company
contributions (reimbursements) made during the remainder of the year | — | i 42 | — | i 121 | — | ( i 15) | — | i 7 | ||||||||||||||||||||||||||||||
| Company
contributions expected to be made during the remainder of the year | i 43 | — | i 114 | — | i 5 | — | i 6 | — | ||||||||||||||||||||||||||||||
| Three Months Ended March 31, | ||||||||
| In millions of dollars | 2021 | 2020 | ||||||
| U.S. plans | $ | i 105 | $ | i 101 | ||||
| Non-U.S. plans | i 92 | i 76 | ||||||
| Three Months Ended March 31, | ||||||||
| In millions of dollars | 2021 | 2020 | ||||||
| Non-service-related expense | $ | i 5 | $ | i 5 | ||||
| Total net expense | $ | i 5 | $ | i 5 | ||||
| Three Months Ended March 31, | ||||||||||||||
| In millions of dollars, except per share amounts | 2021 | 2020 | ||||||||||||
| Earnings per common share | ||||||||||||||
| Income from continuing operations before attribution of noncontrolling interests | $ | i 7,977 | $ | i 2,548 | ||||||||||
| Less: Noncontrolling interests from continuing operations | i 33 | ( i 6) | ||||||||||||
| Net income from continuing operations (for EPS purposes) | $ | i 7,944 | $ | i 2,554 | ||||||||||
| Loss from discontinued operations, net of taxes | ( i 2) | ( i 18) | ||||||||||||
| Citigroup’s net income | $ | i 7,942 | $ | i 2,536 | ||||||||||
Less:
Preferred dividends(1) | i 292 | i 291 | ||||||||||||
| Net income available to common shareholders | $ | i 7,650 | $ | i 2,245 | ||||||||||
| Less: Dividends and undistributed earnings allocated to employee restricted and deferred shares with rights to dividends, applicable to basic EPS | i 66 | i 21 | ||||||||||||
| Net income allocated to common shareholders for basic EPS | $ | i 7,584 | $ | i 2,224 | ||||||||||
Weighted-average
common shares outstanding applicable to basic EPS (in millions) | i 2,082.0 | i 2,097.9 | ||||||||||||
Basic
earnings per share(2) | ||||||||||||||
| Income from continuing operations | $ | i 3.64 | $ | i 1.07 | ||||||||||
| Discontinued operations | i — | ( i 0.01) | ||||||||||||
| Net income per share—basic | $ | i 3.64 | $ | i 1.06 | ||||||||||
| Diluted earnings per share | ||||||||||||||
| Net income allocated to common shareholders for basic EPS | $ | i 7,584 | $ | i 2,224 | ||||||||||
| Add back: Dividends allocated to employee restricted and deferred shares with rights to dividends that are forfeitable | i 7 | i 7 | ||||||||||||
| Net income allocated to common shareholders for diluted EPS | $ | i 7,591 | $ | i 2,231 | ||||||||||
Weighted-average
common shares outstanding applicable to basic EPS (in millions) | i 2,082.0 | i 2,097.9 | ||||||||||||
| Effect of dilutive securities | ||||||||||||||
Options(3) | i 0.1 | i 0.1 | ||||||||||||
| Other employee plans | i 14.5 | i 15.7 | ||||||||||||
Adjusted
weighted-average common shares outstanding applicable to diluted EPS (in millions)(4) | i 2,096.6 | i 2,113.7 | ||||||||||||
Diluted
earnings per share(2) | ||||||||||||||
| Income from continuing operations | $ | i 3.62 | $ | i 1.06 | ||||||||||
| Discontinued operations | i — | ( i 0.01) | ||||||||||||
| Net income per share—diluted | $ | i 3.62 | $ | i 1.06 | ||||||||||
| In millions of dollars | March 31, 2021 | December 31, 2020 | ||||||
| Securities purchased under agreements to resell | $ | i 220,276 | $ | i 204,655 | ||||
| Deposits paid for securities borrowed | i 94,801 | i 90,067 | ||||||
Total,
net(1) | $ | i 315,077 | $ | i 294,722 | ||||
Allowance
for credit losses on securities purchased and borrowed(2) | ( i 5) | ( i 10) | ||||||
| Total, net of allowance | $ | i 315,072 | $ | i 294,712 | ||||
| In millions of dollars | March 31, 2021 | December 31, 2020 | ||||||
| Securities sold under agreements to repurchase | $ | i 198,029 | $ | i 181,194 | ||||
| Deposits received for securities loaned | i 21,139 | i 18,331 | ||||||
Total,
net(1) | $ | i 219,168 | $ | i 199,525 | ||||
| As of March 31, 2021 | |||||||||||||||||
| 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 | $ | i 336,164 | $ | i 115,888 | $ | i 220,276 | $ | i 184,850 | $ | i 35,426 | |||||||
| Deposits paid for securities borrowed | i 106,008 | i 11,207 | i 94,801 | i 20,754 | i 74,047 | ||||||||||||
| Total | $ | i 442,172 | $ | i 127,095 | $ | i 315,077 | $ | i 205,604 | $ | i 109,473 | |||||||
| 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 | $ | i 313,917 | $ | i 115,888 | $ | i 198,029 | $ | i 102,256 | $ | i 95,773 | |||||||
| Deposits received for securities loaned | i 32,346 | i 11,207 | i 21,139 | i 11,085 | i 10,054 | ||||||||||||
| Total | $ | i 346,263 | $ | i 127,095 | $ | i 219,168 | $ | i 113,341 | $ | i 105,827 | |||||||
| As of December 31, 2020 | ||||||||||||||||||||
| 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 | $ | i 362,025 | $ | i 157,370 | $ | i 204,655 | $ | i 159,232 | $ | i 45,423 | ||||||||||
| Deposits paid for securities borrowed | i 96,425 | i 6,358 | i 90,067 | i 13,474 | i 76,593 | |||||||||||||||
| Total | $ | i 458,450 | $ | i 163,728 | $ | i 294,722 | $ | i 172,706 | $ | i 122,016 | ||||||||||
| 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 | $ | i 338,564 | $ | i 157,370 | $ | i 181,194 | $ | i 95,563 | $ | i 85,631 | |||||||
| Deposits received for securities loaned | i 24,689 | i 6,358 | i 18,331 | i 7,982 | i 10,349 | ||||||||||||
| Total | $ | i 363,253 | $ | i 163,728 | $ | i 199,525 | $ | i 103,545 | $ | i 95,980 | |||||||
| As of March 31, 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 | $ | i 154,646 | $ | i 74,302 | $ | i 39,859 | $ | i 45,110 | $ | i 313,917 | |||||||
| Deposits received for securities loaned | i 22,498 | i 1,265 | i 2,730 | i 5,853 | i 32,346 | ||||||||||||
| Total | $ | i 177,144 | $ | i 75,567 | $ | i 42,589 | $ | i 50,963 | $ | i 346,263 | |||||||
| As of December 31, 2020 | |||||||||||||||||
| 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 | $ | i 160,754 | $ | i 98,226 | $ | i 41,679 | $ | i 37,905 | $ | i 338,564 | |||||||
| Deposits received for securities loaned | i 17,038 | i 3 | i 2,770 | i 4,878 | i 24,689 | ||||||||||||
| Total | $ | i 177,792 | $ | i 98,229 | $ | i 44,449 | $ | i 42,783 | $ | i 363,253 | |||||||
| As of March 31, 2021 | |||||||||||
| In millions of dollars | Repurchase agreements | Securities lending agreements | Total | ||||||||
| U.S. Treasury and federal agency securities | $ | i 106,286 | $ | i — | $ | i 106,286 | |||||
| State and municipal securities | i 636 | i — | i 636 | ||||||||
| Foreign government securities | i 118,501 | i 1,909 | i 120,410 | ||||||||
| Corporate bonds | i 21,778 | i 148 | i 21,926 | ||||||||
| Equity securities | i 22,651 | i 30,136 | i 52,787 | ||||||||
| Mortgage-backed securities | i 36,336 | i — | i 36,336 | ||||||||
| Asset-backed securities | i 2,501 | i — | i 2,501 | ||||||||
| Other | i 5,228 | i 153 | i 5,381 | ||||||||
| Total | $ | i 313,917 | $ | i 32,346 | $ | i 346,263 | |||||
| As of December 31, 2020 | |||||||||||
| In millions of dollars | Repurchase agreements | Securities lending agreements | Total | ||||||||
| U.S. Treasury and federal agency securities | $ | i 112,437 | $ | i — | $ | i 112,437 | |||||
| State and municipal securities | i 664 | i 2 | i 666 | ||||||||
| Foreign government securities | i 130,017 | i 194 | i 130,211 | ||||||||
| Corporate bonds | i 20,149 | i 78 | i 20,227 | ||||||||
| Equity securities | i 21,497 | i 24,149 | i 45,646 | ||||||||
| Mortgage-backed securities | i 45,566 | i — | i 45,566 | ||||||||
| Asset-backed securities | i 3,307 | i — | i 3,307 | ||||||||
| Other | i 4,927 | i 266 | i 5,193 | ||||||||
| Total | $ | i 338,564 | $ | i 24,689 | $ | i 363,253 | |||||
| In millions of dollars | March 31, 2021 | December 31, 2020 | ||||||
| Receivables from customers | $ | i 25,661 | $ | i 18,097 | ||||
| Receivables from brokers, dealers and clearing organizations | i 34,804 | i 26,709 | ||||||
Total
brokerage receivables(1) | $ | i 60,465 | $ | i 44,806 | ||||
| Payables to customers | $ | i 45,065 | $ | i 39,319 | ||||
| Payables to brokers, dealers and clearing organizations | i 15,842 | i 11,165 | ||||||
Total
brokerage payables(1) | $ | i 60,907 | $ | i 50,484 | ||||
| In millions of dollars | March 31, 2021 | December 31, 2020 | |||||||||
| Debt securities available-for-sale (AFS) | $ | i 304,036 | $ | i 335,084 | |||||||
Debt
securities held-to-maturity (HTM)(1) | i 161,742 | i 104,943 | |||||||||
Marketable
equity securities carried at fair value(2) | i 249 | i 515 | |||||||||
Non-marketable
equity securities carried at fair value(2) | i 535 | i 551 | |||||||||
Non-marketable
equity securities measured using the measurement alternative(3) | i 1,079 | i 962 | |||||||||
Non-marketable
equity securities carried at cost(4) | i 5,318 | i 5,304 | |||||||||
| Total investments | $ | i 472,959 | $ | i 447,359 | |||||||
| Three Months Ended March 31, | ||||||||||||||
| In millions of dollars | 2021 | 2020 | ||||||||||||
| Taxable interest | $ | i 1,652 | $ | i 2,179 | ||||||||||
| Interest exempt from U.S. federal income tax | i 66 | i 76 | ||||||||||||
| Dividend income | i 34 | i 26 | ||||||||||||
| Total interest and dividend income on investments | $ | i 1,752 | $ | i 2,281 | ||||||||||
| Three Months Ended March 31, | ||||||||||||||
| In millions of dollars | 2021 | 2020 | ||||||||||||
| Gross realized investment gains | $ | i 460 | $ | i 461 | ||||||||||
| Gross realized investment losses | ( i 59) | ( i 29) | ||||||||||||
| Net realized gains on sales of investments | $ | i 401 | $ | i 432 | ||||||||||
| March 31, 2021 | December 31, 2020 | |||||||||||||||||||||||||||||||
| 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 | ||||||||||||||||||||||||||||||||
Mortgage-backed securities(1) | ||||||||||||||||||||||||||||||||
| U.S. government-sponsored agency guaranteed | $ | i 42,058 | $ | i 894 | $ | i 249 | $ | i — | $ | i 42,703 | $ | i 42,836 | $ | i 1,134 | $ | i 52 | $ | i — | $ | i 43,918 | ||||||||||||
| Non-U.S. residential | i 435 | i 2 | i — | i — | i 437 | i 568 | i 3 | i — | i — | i 571 | ||||||||||||||||||||||
| Commercial | i 44 | i 1 | i — | i — | i 45 | i 49 | i 1 | i — | i — | i 50 | ||||||||||||||||||||||
| Total mortgage-backed securities | $ | i 42,537 | $ | i 897 | $ | i 249 | $ | i — | $ | i 43,185 | $ | i 43,453 | $ | i 1,138 | $ | i 52 | $ | i — | $ | i 44,539 | ||||||||||||
| U.S. Treasury and federal agency securities | ||||||||||||||||||||||||||||||||
| U.S. Treasury | $ | i 121,573 | $ | i 1,532 | $ | i 455 | $ | i — | $ | i 122,650 | $ | i 144,094 | $ | i 2,108 | $ | i 49 | $ | i — | $ | i 146,153 | ||||||||||||
| Agency obligations | i 50 | i — | i — | i — | i 50 | i 50 | i 1 | i — | i — | i 51 | ||||||||||||||||||||||
| Total U.S. Treasury and federal agency securities | $ | i 121,623 | $ | i 1,532 | $ | i 455 | $ | i — | $ | i 122,700 | $ | i 144,144 | $ | i 2,109 | $ | i 49 | $ | i — | $ | i 146,204 | ||||||||||||
| State and municipal | $ | i 3,283 | $ | i 87 | $ | i 119 | $ | i — | $ | i 3,251 | $ | i 3,753 | $ | i 123 | $ | i 157 | $ | i — | $ | i 3,719 | ||||||||||||
| Foreign government | i 119,126 | i 979 | i 491 | i — | i 119,614 | i 123,467 | i 1,623 | i 122 | i — | i 124,968 | ||||||||||||||||||||||
| Corporate | i 10,274 | i 97 | i 118 | i 5 | i 10,248 | i 10,444 | i 152 | i 91 | i 5 | i 10,500 | ||||||||||||||||||||||
Asset-backed
securities(1) | i 272 | i 2 | i — | i — | i 274 | i 277 | i 5 | i 4 | i — | i 278 | ||||||||||||||||||||||
| Other debt securities | i 4,758 | i 6 | i — | i — | i 4,764 | i 4,871 | i 5 | i — | i — | i 4,876 | ||||||||||||||||||||||
| Total debt securities AFS | $ | i 301,873 | $ | i 3,600 | $ | i 1,432 | $ | i 5 | $ | i 304,036 | $ | i 330,409 | $ | i 5,155 | $ | i 475 | $ | i 5 | $ | i 335,084 | ||||||||||||
| Less than 12 months | 12 months or longer | Total | ||||||||||||||||||
| In millions of dollars | Fair value | Gross unrealized losses | Fair value | Gross unrealized losses | Fair value | Gross unrealized losses | ||||||||||||||
| March 31, 2021 | ||||||||||||||||||||
| Debt securities AFS | ||||||||||||||||||||
| Mortgage-backed securities | ||||||||||||||||||||
| U.S. government-sponsored agency guaranteed | $ | i 17,053 | $ | i 227 | $ | i 262 | $ | i 22 | $ | i 17,315 | $ | i 249 | ||||||||
| Non-U.S. residential | i 15 | i — | i 1 | i — | i 16 | i — | ||||||||||||||
| Commercial | i 1 | i — | i — | i — | i 1 | i — | ||||||||||||||
| Total mortgage-backed securities | $ | i 17,069 | $ | i 227 | $ | i 263 | $ | i 22 | $ | i 17,332 | $ | i 249 | ||||||||
| U.S. Treasury | $ | i 40,386 | $ | i 455 | $ | i — | $ | i — | $ | i 40,386 | $ | i 455 | ||||||||
| State and municipal | i 191 | i 5 | i 1,215 | i 114 | i 1,406 | i 119 | ||||||||||||||
| Foreign government | i 46,138 | i 389 | i 4,629 | i 102 | i 50,767 | i 491 | ||||||||||||||
| Corporate | i 3,017 | i 116 | i 39 | i 2 | i 3,056 | i 118 | ||||||||||||||
| Asset-backed securities | i 3 | i — | i — | i — | i 3 | i — | ||||||||||||||
| Other debt securities | i 1,079 | i — | i — | i — | i 1,079 | i — | ||||||||||||||
| Total debt securities AFS | $ | i 107,883 | $ | i 1,192 | $ | i 6,146 | $ | i 240 | $ | i 114,029 | $ | i 1,432 | ||||||||
| December 31, 2020 | ||||||||||||||||||||
| Debt securities AFS | ||||||||||||||||||||
| Mortgage-backed securities | ||||||||||||||||||||
| U.S. government-sponsored agency guaranteed | $ | i 3,588 | $ | i 30 | $ | i 298 | $ | i 22 | $ | i 3,886 | $ | i 52 | ||||||||
| Non-U.S. residential | i 1 | i — | i — | i — | i 1 | i — | ||||||||||||||
| Commercial | i 7 | i — | i 4 | i — | i 11 | i — | ||||||||||||||
| Total mortgage-backed securities | $ | i 3,596 | $ | i 30 | $ | i 302 | $ | i 22 | $ | i 3,898 | $ | i 52 | ||||||||
| U.S. Treasury and federal agency securities | ||||||||||||||||||||
| U.S. Treasury | $ | i 25,031 | $ | i 49 | $ | i — | $ | i — | $ | i 25,031 | $ | i 49 | ||||||||
| Agency obligations | i 50 | i — | i — | i — | i 50 | i — | ||||||||||||||
| Total U.S. Treasury and federal agency securities | $ | i 25,081 | $ | i 49 | $ | i — | $ | i — | $ | i 25,081 | $ | i 49 | ||||||||
| State and municipal | $ | i 836 | $ | i 34 | $ | i 893 | $ | i 123 | $ | i 1,729 | $ | i 157 | ||||||||
| Foreign government | i 29,344 | i 61 | i 3,502 | i 61 | i 32,846 | i 122 | ||||||||||||||
| Corporate | i 1,083 | i 90 | i 24 | i 1 | i 1,107 | i 91 | ||||||||||||||
| Asset-backed securities | i 194 | i 3 | i 39 | i 1 | i 233 | i 4 | ||||||||||||||
| Other debt securities | i 182 | i — | i — | i — | i 182 | i — | ||||||||||||||
| Total debt securities AFS | $ | i 60,316 | $ | i 267 | $ | i 4,760 | $ | i 208 | $ | i 65,076 | $ | i 475 | ||||||||
| March 31, 2021 | December 31, 2020 | |||||||||||||
| In millions of dollars | Amortized cost | Fair value | Amortized cost | Fair value | ||||||||||
Mortgage-backed
securities(1) | ||||||||||||||
| Due within 1 year | $ | i 70 | $ | i 70 | $ | i 27 | $ | i 27 | ||||||
| After 1 but within 5 years | i 387 | i 389 | i 567 | i 571 | ||||||||||
| After 5 but within 10 years | i 819 | i 876 | i 688 | i 757 | ||||||||||
After
10 years(2) | i 41,261 | i 41,850 | i 42,171 | i 43,184 | ||||||||||
| Total | $ | i 42,537 | $ | i 43,185 | $ | i 43,453 | $ | i 44,539 | ||||||
| U.S. Treasury and federal agency securities | ||||||||||||||
| Due within 1 year | $ | i 29,917 | $ | i 30,048 | $ | i 34,834 | $ | i 34,951 | ||||||
| After 1 but within 5 years | i 90,482 | i 91,455 | i 108,160 | i 110,091 | ||||||||||
| After 5 but within 10 years | i 1,222 | i 1,195 | i 1,150 | i 1,162 | ||||||||||
After
10 years(2) | i 2 | i 2 | i — | i — | ||||||||||
| Total | $ | i 121,623 | $ | i 122,700 | $ | i 144,144 | $ | i 146,204 | ||||||
| State and municipal | ||||||||||||||
| Due within 1 year | $ | i 408 | $ | i 408 | $ | i 427 | $ | i 428 | ||||||
| After 1 but within 5 years | i 117 | i 118 | i 189 | i 198 | ||||||||||
| After 5 but within 10 years | i 240 | i 239 | i 276 | i 267 | ||||||||||
After
10 years(2) | i 2,518 | i 2,486 | i 2,861 | i 2,826 | ||||||||||
| Total | $ | i 3,283 | $ | i 3,251 | $ | i 3,753 | $ | i 3,719 | ||||||
| Foreign government | ||||||||||||||
| Due within 1 year | $ | i 48,334 | $ | i 48,426 | $ | i 48,133 | $ | i 48,258 | ||||||
| After 1 but within 5 years | i 63,516 | i 63,789 | i 67,365 | i 68,586 | ||||||||||
| After 5 but within 10 years | i 5,562 | i 5,599 | i 5,908 | i 6,011 | ||||||||||
After
10 years(2) | i 1,714 | i 1,800 | i 2,061 | i 2,113 | ||||||||||
| Total | $ | i 119,126 | $ | i 119,614 | $ | i 123,467 | $ | i 124,968 | ||||||
All
other(3) | ||||||||||||||
| Due within 1 year | $ | i 6,332 | $ | i 6,338 | $ | i 6,661 | $ | i 6,665 | ||||||
| After 1 but within 5 years | i 7,886 | i 7,898 | i 7,814 | i 7,891 | ||||||||||
| After 5 but within 10 years | i 992 | i 979 | i 1,018 | i 1,034 | ||||||||||
After
10 years(2) | i 94 | i 71 | i 99 | i 64 | ||||||||||
| Total | $ | i 15,304 | $ | i 15,286 | $ | i 15,592 | $ | i 15,654 | ||||||
| Total debt securities AFS | $ | i 301,873 | $ | i 304,036 | $ | i 330,409 | $ | i 335,084 | ||||||
| In millions of dollars | Amortized cost,
net(1) | Gross unrealized gains | Gross unrealized losses | Fair value | ||||||||||||||||
| March 31, 2021 | ||||||||||||||||||||
| Debt securities HTM | ||||||||||||||||||||
Mortgage-backed
securities(2) | ||||||||||||||||||||
| U.S. government-sponsored agency guaranteed | $ | i 63,783 | $ | i 1,643 | $ | i 718 | $ | i 64,708 | ||||||||||||
| Non-U.S. residential | i 1,107 | i 3 | i 1 | i 1,109 | ||||||||||||||||
| Commercial | i 887 | i 2 | i 1 | i 888 | ||||||||||||||||
| Total mortgage-backed securities | $ | i 65,777 | $ | i 1,648 | $ | i 720 | $ | i 66,705 | ||||||||||||
| U.S. Treasury securities | $ | i 58,380 | $ | i — | $ | i 925 | $ | i 57,455 | ||||||||||||
State
and municipal(3) | i 9,446 | i 631 | i 17 | i 10,060 | ||||||||||||||||
| Foreign government | i 1,877 | i 45 | i 8 | i 1,914 | ||||||||||||||||
Asset-backed
securities(2) | i 26,262 | i 10 | i 31 | i 26,241 | ||||||||||||||||
| Total debt securities HTM, net | $ | i 161,742 | $ | i 2,334 | $ | i 1,701 | $ | i 162,375 | ||||||||||||
| December 31, 2020 | ||||||||||||||||||||
| Debt securities HTM | ||||||||||||||||||||
Mortgage-backed securities(2) | ||||||||||||||||||||
| U.S. government-sponsored agency guaranteed | $ | i 49,004 | $ | i 2,162 | $ | i 15 | $ | i 51,151 | ||||||||||||
| Non-U.S. residential | i 1,124 | i 3 | i 1 | i 1,126 | ||||||||||||||||
| Commercial | i 825 | i 1 | i 1 | i 825 | ||||||||||||||||
| Total mortgage-backed securities | $ | i 50,953 | $ | i 2,166 | $ | i 17 | $ | i 53,102 | ||||||||||||
U.S.
Treasury securities(4) | $ | i 21,293 | $ | i 4 | $ | i 55 | $ | i 21,242 | ||||||||||||
| State and municipal | i 9,185 | i 755 | i 11 | i 9,929 | ||||||||||||||||
| Foreign government | i 1,931 | i 91 | i — | i 2,022 | ||||||||||||||||
Asset-backed
securities(2) | i 21,581 | i 6 | i 92 | i 21,495 | ||||||||||||||||
| Total debt securities HTM, net | $ | i 104,943 | $ | i 3,022 | $ | i 175 | $ | i 107,790 | ||||||||||||
| March 31, 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 | $ | i 244 | $ | i 399 | $ | i 81 | $ | i 81 | ||||||
| After 1 but within 5 years | i 596 | i 626 | i 463 | i 477 | ||||||||||
| After 5 but within 10 years | i 1,641 | i 1,749 | i 1,699 | i 1,873 | ||||||||||
After
10 years(2) | i 63,296 | i 63,931 | i 48,710 | i 50,671 | ||||||||||
| Total | $ | i 65,777 | $ | i 66,705 | $ | i 50,953 | $ | i 53,102 | ||||||
| U.S. Treasury securities | ||||||||||||||
| Due within 1 year | $ | i — | $ | i — | $ | i — | $ | i — | ||||||
| After 1 but within 5 years | i 28,176 | i 27,697 | i 18,955 | i 19,127 | ||||||||||
| After 5 but within 10 years | i 30,204 | i 29,758 | i 2,338 | i 2,115 | ||||||||||
After
10 years(2) | i — | i — | i — | i — | ||||||||||
| Total | $ | i 58,380 | $ | i 57,455 | $ | i 21,293 | $ | i 21,242 | ||||||
| State and municipal | ||||||||||||||
| Due within 1 year | $ | i 8 | $ | i 7 | $ | i 6 | $ | i 6 | ||||||
| After 1 but within 5 years | i 172 | i 176 | i 139 | i 142 | ||||||||||
| After 5 but within 10 years | i 848 | i 887 | i 818 | i 869 | ||||||||||
After
10 years(2) | i 8,418 | i 8,990 | i 8,222 | i 8,912 | ||||||||||
| Total | $ | i 9,446 | $ | i 10,060 | $ | i 9,185 | $ | i 9,929 | ||||||
| Foreign government | ||||||||||||||
| Due within 1 year | $ | i 352 | $ | i 349 | $ | i 361 | $ | i 360 | ||||||
| After 1 but within 5 years | i 1,525 | i 1,565 | i 1,570 | i 1,662 | ||||||||||
| After 5 but within 10 years | i — | i — | i — | i — | ||||||||||
After
10 years(2) | i — | i — | i — | i — | ||||||||||
| Total | $ | i 1,877 | $ | i 1,914 | $ | i 1,931 | $ | i 2,022 | ||||||
All
other(3) | ||||||||||||||
| Due within 1 year | $ | i — | $ | i — | $ | i — | $ | i — | ||||||
| After 1 but within 5 years | i — | i — | i — | i — | ||||||||||
| After 5 but within 10 years | i 13,973 | i 13,956 | i 11,795 | i 15,020 | ||||||||||
After
10 years(2) | i 12,289 | i 12,285 | i 9,786 | i 6,475 | ||||||||||
| Total | $ | i 26,262 | $ | i 26,241 | $ | i 21,581 | $ | i 21,495 | ||||||
| Total debt securities HTM | $ | i 161,742 | $ | i 162,375 | $ | i 104,943 | $ | i 107,790 | ||||||
| Three Months Ended March 31, 2021 | Three Months Ended March 31, 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 | $ | i — | $ | i — | $ | i — | $ | i — | $ | i — | $ | i — | |||||||||||
Less:
portion of impairment loss recognized in AOCI (before taxes) | i — | i — | i — | i — | i — | i — | |||||||||||||||||
| Net impairment losses recognized in earnings for debt securities that the Company does not intend to sell nor will likely be required to sell | $ | i — | $ | i — | $ | i — | $ | i — | $ | i — | $ | i — | |||||||||||
| 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 | i 69 | i — | i 69 | i 52 | i — | i 52 | |||||||||||||||||
| Total impairment losses recognized in earnings | $ | i 69 | $ | i — | $ | i 69 | $ | i 52 | $ | i — | $ | i 52 | |||||||||||
| Three Months Ended March 31, 2021 | ||||||||||||||||||||||||||
| In millions of dollars | Foreign government | Corporate | Total AFS | |||||||||||||||||||||||
| Allowance for credit losses at beginning of period | $ | i — | $ | i 5 | $ | i 5 | ||||||||||||||||||||
| Less: Write-offs | i — | i — | i — | |||||||||||||||||||||||
| Recoveries of amounts written-off | i — | i — | i — | |||||||||||||||||||||||
| Net credit losses (NCLs) | $ | i — | $ | i — | $ | i — | ||||||||||||||||||||
| NCLs | $ | i — | $ | i — | $ | i — | ||||||||||||||||||||
| Credit losses on securities without previous credit losses | i — | i — | i — | |||||||||||||||||||||||
| Net reserve builds (releases) on securities with previous credit losses | i — | i — | i — | |||||||||||||||||||||||
| Total provision for credit losses | $ | i — | $ | i — | $ | i — | ||||||||||||||||||||
| Initial allowance on newly purchased credit-deteriorated securities during the period | i — | i — | i — | |||||||||||||||||||||||
| Allowance for credit losses at end of period | $ | i — | $ | i 5 | $ | i 5 | ||||||||||||||||||||
| In millions of dollars | March 31, 2021 | December 31, 2020 | ||||||
| Measurement alternative: | ||||||||
| Carrying value | $ | i 1,079 | $ | i 962 | ||||
| Three Months Ended March 31, | ||||||||||||||
| In millions of dollars | 2021 | 2020 | ||||||||||||
Measurement alternative(1): | ||||||||||||||
| Impairment losses | $ | i — | $ | i 3 | ||||||||||
| Downward changes for observable prices | i — | i — | ||||||||||||
| Upward changes for observable prices | i 81 | i 25 | ||||||||||||
| Life-to-date amounts on securities still held | |||||
| In millions of dollars | March 31, 2021 | ||||
| Measurement alternative: | |||||
| Impairment losses | $ | i 68 | |||
| Downward changes for observable prices | i 53 | ||||
| Upward changes for observable prices | i 567 | ||||
| Fair value | Unfunded commitments | Redemption frequency (if currently eligible) monthly, quarterly, annually | Redemption notice period | |||||||||||||||||
| In millions of dollars | March 31, 2021 | December 31, 2020 | March 31, 2021 | December 31, 2020 | ||||||||||||||||
Private
equity funds(1)(2) | $ | i 116 | $ | i 123 | $ | i 60 | $ | i 62 | — | — | ||||||||||
Real
estate funds(2)(3) | i 4 | i 9 | i 2 | i 20 | — | — | ||||||||||||||
| Mutual/collective investment funds | i 19 | i 20 | i — | i — | — | — | ||||||||||||||
| Total | $ | i 139 | $ | i 152 | $ | i 62 | $ | i 82 | — | — | ||||||||||
| 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) | $ | i 44,638 | $ | i 272 | $ | i 344 | $ | i 485 | $ | i 45,739 | $ | i 128 | $ | i 460 | $ | i 588 | $ | i 325 | |||||||||||
Home
equity loans(8)(9) | i 6,391 | i 61 | i 186 | i — | i 6,638 | i 69 | i 268 | i 337 | i — | ||||||||||||||||||||
| Credit cards | i 118,870 | i 997 | i 1,181 | i — | i 121,048 | i — | i — | i — | i 1,181 | ||||||||||||||||||||
| Personal, small business and other | i 4,565 | i 25 | i 10 | i — | i 4,600 | i 2 | i 34 | i 36 | i — | ||||||||||||||||||||
| Total | $ | i 174,464 | $ | i 1,355 | $ | i 1,721 | $ | i 485 | $ | i 178,025 | $ | i 199 | $ | i 762 | $ | i 961 | $ | i 1,506 | |||||||||||
In
offices outside North America(6) | |||||||||||||||||||||||||||||
Residential first mortgages(7) | $ | i 39,426 | $ | i 205 | $ | i 202 | $ | i — | $ | i 39,833 | $ | i — | $ | i 479 | $ | i 479 | $ | i — | |||||||||||
| Credit cards | i 20,397 | i 344 | i 396 | i — | i 21,137 | i — | i 281 | i 281 | i 269 | ||||||||||||||||||||
| Personal, small business and other | i 34,669 | i 237 | i 133 | i — | i 35,039 | i — | i 263 | i 263 | i — | ||||||||||||||||||||
| Total | $ | i 94,492 | $ | i 786 | $ | i 731 | $ | i — | $ | i 96,009 | $ | i — | $ | i 1,023 | $ | i 1,023 | $ | i 269 | |||||||||||
Total
Citigroup(10) | $ | i 268,956 | $ | i 2,141 | $ | i 2,452 | $ | i 485 | $ | i 274,034 | $ | i 199 | $ | i 1,785 | $ | i 1,984 | $ | i 1,775 | |||||||||||
| Interest income | ||||||||
| In millions of dollars | Three Months Ended March 31, 2021 | Three Months Ended March 31, 2020 | ||||||
In North America offices(1) | ||||||||
| Residential first mortgages | $ | i 3 | $ | i 3 | ||||
| Home equity loans | i 2 | i 2 | ||||||
| Credit cards | i — | i — | ||||||
| Personal, small business and other | i — | i — | ||||||
| Total | $ | i 5 | $ | i 5 | ||||
In
offices outside North America(1) | ||||||||
| Residential first mortgages | $ | i — | $ | i — | ||||
| Credit cards | i — | i — | ||||||
| Personal, small business and other | i — | i — | ||||||
| Total | $ | i — | $ | i — | ||||
| Total Citigroup | $ | i 5 | $ | i 5 | ||||
| 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) | $ | i 46,471 | $ | i 402 | $ | i 381 | $ | i 524 | $ | i 47,778 | $ | i 136 | $ | i 509 | $ | i 645 | $ | i 332 | |||||||||||
Home
equity loans(8)(9) | i 6,829 | i 78 | i 221 | i — | i 7,128 | i 72 | i 307 | i 379 | i — | ||||||||||||||||||||
| Credit cards | i 127,827 | i 1,228 | i 1,330 | i — | i 130,385 | i — | i — | i — | i 1,330 | ||||||||||||||||||||
| Personal, small business and other | i 4,472 | i 27 | i 10 | i — | i 4,509 | i 2 | i 33 | i 35 | i — | ||||||||||||||||||||
| Total | $ | i 185,599 | $ | i 1,735 | $ | i 1,942 | $ | i 524 | $ | i 189,800 | $ | i 210 | $ | i 849 | $ | i 1,059 | $ | i 1,662 | |||||||||||
In
offices outside North America(6) | |||||||||||||||||||||||||||||
Residential first mortgages(7) | $ | i 39,557 | $ | i 213 | $ | i 199 | $ | i — | $ | i 39,969 | $ | i — | $ | i 486 | $ | i 486 | $ | i — | |||||||||||
| Credit cards | i 21,718 | i 429 | i 545 | i — | i 22,692 | i — | i 384 | i 384 | i 376 | ||||||||||||||||||||
| Personal, small business and other | i 35,925 | i 319 | i 134 | i — | i 36,378 | i — | i 212 | i 212 | i — | ||||||||||||||||||||
| Total | $ | i 97,200 | $ | i 961 | $ | i 878 | $ | i — | $ | i 99,039 | $ | i — | $ | i 1,082 | $ | i 1,082 | $ | i 376 | |||||||||||
Total
Citigroup(10) | $ | i 282,799 | $ | i 2,696 | $ | i 2,820 | $ | i 524 | $ | i 288,839 | $ | i 210 | $ | i 1,931 | $ | i 2,141 | $ | i 2,038 | |||||||||||
FICO score distribution in U.S. portfolio(1)(2) | March 31, 2021 | ||||||||||||||||
| In millions of dollars | Less than 680 | 680 to 760 | Greater than 760 | FICO not available | Total loans | ||||||||||||
| Residential first mortgages | |||||||||||||||||
| 2021 | $ | i 21 | $ | i 730 | $ | i 1,650 | |||||||||||
| 2020 | i 195 | i 3,418 | i 8,962 | ||||||||||||||
| 2019 | i 131 | i 1,639 | i 4,700 | ||||||||||||||
| 2018 | i 233 | i 547 | i 1,089 | ||||||||||||||
| 2017 | i 286 | i 740 | i 1,612 | ||||||||||||||
| Prior | i 1,905 | i 4,880 | i 11,365 | ||||||||||||||
| Total residential first mortgages | $ | i 2,771 | $ | i 11,954 | $ | i 29,378 | $ | i 1,636 | $ | i 45,739 | |||||||
Credit
cards(3) | $ | i 22,931 | $ | i 49,139 | $ | i 46,084 | $ | i 2,364 | $ | i 120,518 | |||||||
| Home equity loans (pre-reset) | $ | i 272 | $ | i 929 | $ | i 1,568 | |||||||||||
| Home equity loans (post-reset) | i 965 | i 1,439 | i 1,455 | ||||||||||||||
| Total home equity loans | $ | i 1,237 | $ | i 2,368 | $ | i 3,023 | $ | i 10 | $ | i 6,638 | |||||||
| Installment and other | |||||||||||||||||
| 2021 | $ | i 1 | $ | i 6 | $ | i 13 | |||||||||||
| 2020 | i 26 | i 65 | i 112 | ||||||||||||||
| 2019 | i 70 | i 90 | i 114 | ||||||||||||||
| 2018 | i 67 | i 66 | i 70 | ||||||||||||||
| 2017 | i 20 | i 21 | i 23 | ||||||||||||||
| Prior | i 201 | i 374 | i 501 | ||||||||||||||
| Personal, small business and other | $ | i 385 | $ | i 622 | $ | i 833 | $ | i 2,760 | $ | i 4,600 | |||||||
| Total | $ | i 27,324 | $ | i 64,083 | $ | i 79,318 | $ | i 6,770 | $ | i 177,495 | |||||||
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 | $ | i 187 | $ | i 3,741 | $ | i 9,052 | |||||||||||
| 2019 | i 150 | i 1,857 | i 5,384 | ||||||||||||||
| 2018 | i 246 | i 655 | i 1,227 | ||||||||||||||
| 2017 | i 298 | i 846 | i 1,829 | ||||||||||||||
| 2016 | i 323 | i 1,368 | i 3,799 | ||||||||||||||
| Prior | i 1,708 | i 4,133 | i 9,105 | ||||||||||||||
| Total residential first mortgages | $ | i 2,912 | $ | i 12,600 | $ | i 30,396 | $ | i 1,870 | $ | i 47,778 | |||||||
Credit
cards(3) | $ | i 26,227 | $ | i 52,778 | $ | i 49,767 | $ | i 1,041 | $ | i 129,813 | |||||||
| Home equity loans (pre-reset) | $ | i 292 | $ | i 1,014 | $ | i 1,657 | |||||||||||
| Home equity loans (post-reset) | i 1,055 | i 1,569 | i 1,524 | ||||||||||||||
| Total home equity loans | $ | i 1,347 | $ | i 2,583 | $ | i 3,181 | $ | i 17 | $ | i 7,128 | |||||||
| Installment and other | |||||||||||||||||
| 2020 | $ | i 23 | $ | i 58 | $ | i 95 | |||||||||||
| 2019 | i 79 | i 106 | i 134 | ||||||||||||||
| 2018 | i 82 | i 80 | i 84 | ||||||||||||||
| 2017 | i 26 | i 27 | i 30 | ||||||||||||||
| 2016 | i 10 | i 9 | i 8 | ||||||||||||||
| Prior | i 214 | i 393 | i 529 | ||||||||||||||
| Personal, small business and other | $ | i 434 | $ | i 673 | $ | i 880 | $ | i 2,522 | $ | i 4,509 | |||||||
| Total | $ | i 30,920 | $ | i 68,634 | $ | i 84,224 | $ | i 5,450 | $ | i 189,228 | |||||||
| LTV distribution in U.S. portfolio | March 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 | $ | i 1,958 | $ | i 443 | $ | i — | |||||||||||
| 2020 | i 11,401 | i 1,184 | i — | ||||||||||||||
| 2019 | i 6,093 | i 377 | i 3 | ||||||||||||||
| 2018 | i 1,474 | i 392 | i 8 | ||||||||||||||
| 2017 | i 2,449 | i 192 | i 3 | ||||||||||||||
| Prior | i 18,084 | i 98 | i 17 | ||||||||||||||
| Total residential first mortgages | $ | i 41,459 | $ | i 2,686 | $ | i 31 | $ | i 1,563 | $ | i 45,739 | |||||||
| Home equity loans (pre-reset) | $ | i 2,684 | $ | i 50 | $ | i 15 | |||||||||||
| Home equity loans (post-reset) | i 3,586 | i 211 | i 45 | ||||||||||||||
| Total home equity loans | $ | i 6,270 | $ | i 261 | $ | i 60 | $ | i 47 | $ | i 6,638 | |||||||
| Total | $ | i 47,729 | $ | i 2,947 | $ | i 91 | $ | i 1,610 | $ | i 52,377 | |||||||
| 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 | $ | i 11,447 | $ | i 1,543 | $ | i — | |||||||||||
| 2019 | i 7,029 | i 376 | i 2 | ||||||||||||||
| 2018 | i 1,617 | i 507 | i 11 | ||||||||||||||
| 2017 | i 2,711 | i 269 | i 4 | ||||||||||||||
| 2016 | i 5,423 | i 84 | i 2 | ||||||||||||||
| Prior | i 14,966 | i 66 | i 16 | ||||||||||||||
| Total residential first mortgages | $ | i 43,193 | $ | i 2,845 | $ | i 35 | $ | i 1,705 | $ | i 47,778 | |||||||
| Home equity loans (pre-reset) | $ | i 2,876 | $ | i 50 | $ | i 16 | |||||||||||
| Home equity loans (post-reset) | i 3,782 | i 290 | i 58 | ||||||||||||||
| Total home equity loans | $ | i 6,658 | $ | i 340 | $ | i 74 | $ | i 56 | $ | i 7,128 | |||||||
| Total | $ | i 49,851 | $ | i 3,185 | $ | i 109 | $ | i 1,761 | $ | i 54,906 | |||||||
| Three
Months Ended March 31, | ||||||||||||||||||||||||||||||||
| Balance at March 31, 2021 | 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) | ||||||||||||||||||||||||||
| Mortgage and real estate | ||||||||||||||||||||||||||||||||
| Residential first mortgages | $ | i 1,708 | $ | i 1,850 | $ | i 144 | $ | i 1,695 | $ | i 21 | $ | i 14 | ||||||||||||||||||||
| Home equity loans | i 457 | i 645 | i 45 | i 498 | i 3 | i 3 | ||||||||||||||||||||||||||
| Credit cards | i 1,992 | i 2,593 | i 844 | i 1,946 | i 35 | i 26 | ||||||||||||||||||||||||||
| Personal, small business and other | i 576 | i 577 | i 181 | i 502 | i 12 | i 15 | ||||||||||||||||||||||||||
| Total | $ | i 4,733 | $ | i 5,665 | $ | i i 1,214 / | $ | i 4,641 | $ | i 71 | $ | i 58 | ||||||||||||||||||||
| 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 | $ | i 1,787 | $ | i 1,962 | $ | i 157 | $ | i 1,661 | |||||||||
| Home equity loans | i 478 | i 651 | i 60 | i 527 | |||||||||||||
| Credit cards | i 1,982 | i 2,135 | i 918 | i 1,926 | |||||||||||||
| Personal, small business and other | i 552 | i 552 | i 210 | i 463 | |||||||||||||
| Total | $ | i 4,799 | $ | i 5,300 | $ | i 1,345 | $ | i 4,577 | |||||||||
For
the Three Months Ended March 31, 2021(1) | ||||||||||||||||||||
| 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 | i 331 | $ | i 57 | $ | i — | $ | i — | $ | i — | i — | % | |||||||||
| Home equity loans | i 50 | i 4 | i — | i — | i — | i — | ||||||||||||||
| Credit cards | i 59,046 | i 300 | i — | i — | i — | i 17 | ||||||||||||||
| Personal, small business and other | i 461 | i 7 | i — | i — | i — | i 4 | ||||||||||||||
Total(7) | i 59,888 | $ | i 368 | $ | i — | $ | i — | $ | i — | |||||||||||
| International | ||||||||||||||||||||
| Residential first mortgages | i 467 | $ | i 24 | $ | i — | $ | i — | $ | i — | i 1 | % | |||||||||
| Credit cards | i 24,599 | i 102 | i — | i — | i 7 | i 15 | ||||||||||||||
| Personal, small business and other | i 7,537 | i 57 | i — | i — | i 2 | i 11 | ||||||||||||||
Total(7) | i 32,603 | $ | i 183 | $ | i — | $ | i — | $ | i 9 | |||||||||||
For
the Three Months Ended March 31, 2020(1) | ||||||||||||||||||||
| 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 | i 277 | $ | i 44 | $ | i — | $ | i — | $ | i — | i — | % | |||||||||
| Home equity loans | i 82 | i 8 | i — | i — | i — | i 2 | ||||||||||||||
| Credit cards | i 67,282 | i 305 | i — | i — | i — | i 17 | ||||||||||||||
| Personal, small business and other | i 433 | i 4 | i — | i — | i — | i 6 | ||||||||||||||
Total(7) | i 68,074 | $ | i 361 | $ | i — | $ | i — | $ | i — | |||||||||||
| International | ||||||||||||||||||||
| Residential first mortgages | i 536 | $ | i 14 | $ | i — | $ | i — | $ | i — | i 5 | % | |||||||||
| Credit cards | i 19,315 | i 73 | i — | i — | i 3 | i 16 | ||||||||||||||
| Personal, small business and other | i 7,654 | i 52 | i — | i — | i 2 | i 11 | ||||||||||||||
Total(7) | i 27,505 | $ | i 139 | $ | i — | $ | i — | $ | i 5 | |||||||||||
| Three Months Ended March 31, | ||||||||||||||
| In millions of dollars | 2021 | 2020 | ||||||||||||
| North America | ||||||||||||||
| Residential first mortgages | $ | i 18 | $ | i 14 | ||||||||||
| Home equity loans | i 4 | i 2 | ||||||||||||
| Credit cards | i 63 | i 90 | ||||||||||||
| Personal, small business and other | i 1 | i 1 | ||||||||||||
| Total | $ | i 86 | $ | i 107 | ||||||||||
| International | ||||||||||||||
| Residential first mortgages | $ | i 12 | $ | i 6 | ||||||||||
| Credit cards | i 52 | i 33 | ||||||||||||
| Personal, small business and other | i 23 | i 17 | ||||||||||||
| Total | $ | i 87 | $ | i 56 | ||||||||||
| Three Months Ended March 31, 2021 | Three Months Ended December 31, 2020 | Three Months Ended March 31, 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 | $ | i — | $ | i 3 | $ | i — | $ | i — | $ | i 12 | $ | i — | $ | i 4 | $ | i 9 | $ | i — | |||||||||||
| Allowance for credit losses at acquisition date | i — | i — | i — | i — | i — | i — | i 4 | i — | i — | ||||||||||||||||||||
| Discount or premium attributable to non-credit factors | i — | i — | i — | i — | i — | i — | i — | i — | i — | ||||||||||||||||||||
| Par value (amortized cost basis) | $ | i — | $ | i 3 | $ | i — | $ | i — | $ | i 12 | $ | i — | $ | i 8 | $ | i 9 | $ | i — | |||||||||||
| In millions of dollars | March 31, 2021 | December 31, 2020 | ||||||
In North America offices(1) | ||||||||
| Commercial and industrial | $ | i 55,497 | $ | i 57,731 | ||||
| Financial institutions | i 57,009 | i 55,809 | ||||||
Mortgage
and real estate(2) | i 60,976 | i 60,675 | ||||||
| Installment and other | i 29,186 | i 26,744 | ||||||
| Lease financing | i 539 | i 673 | ||||||
| Total | $ | i 203,207 | $ | i 201,632 | ||||
In
offices outside North America(1) | ||||||||
| Commercial and industrial | $ | i 102,666 | $ | i 104,072 | ||||
| Financial institutions | i 34,729 | i 32,334 | ||||||
Mortgage
and real estate(2) | i 11,166 | i 11,371 | ||||||
| Installment and other | i 35,347 | i 33,759 | ||||||
| Lease financing | i 56 | i 65 | ||||||
| Governments and official institutions | i 4,783 | i 3,811 | ||||||
| Total | $ | i 188,747 | $ | i 185,412 | ||||
Corporate
loans, net of unearned income(3) | $ | i 391,954 | $ | i 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 | $ | i 582 | $ | i 118 | $ | i 700 | $ | i 2,465 | $ | i 148,635 | $ | i 151,800 | ||||||||
| Financial institutions | i 969 | i 174 | i 1,143 | i 36 | i 90,339 | i 91,518 | ||||||||||||||
| Mortgage and real estate | i 189 | i 84 | i 273 | i 496 | i 71,373 | i 72,142 | ||||||||||||||
| Lease financing | i 28 | i — | i 28 | i 27 | i 540 | i 595 | ||||||||||||||
| Other | i 70 | i 12 | i 82 | i 82 | i 68,225 | i 68,389 | ||||||||||||||
| Loans at fair value | i 7,510 | |||||||||||||||||||
| Total | $ | i 1,838 | $ | i 388 | $ | i 2,226 | $ | i 3,106 | $ | i 379,112 | $ | i 391,954 | ||||||||
| 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 | $ | i 400 | $ | i 109 | $ | i 509 | $ | i 2,795 | $ | i 153,036 | $ | i 156,340 | ||||||||
| Financial institutions | i 668 | i 65 | i 733 | i 92 | i 86,864 | i 87,689 | ||||||||||||||
| Mortgage and real estate | i 450 | i 247 | i 697 | i 505 | i 70,836 | i 72,038 | ||||||||||||||
| Lease financing | i 62 | i 12 | i 74 | i 24 | i 640 | i 738 | ||||||||||||||
| Other | i 112 | i 19 | i 131 | i 111 | i 63,157 | i 63,399 | ||||||||||||||
| Loans at fair value | i 6,840 | |||||||||||||||||||
| Total | $ | i 1,692 | $ | i 452 | $ | i 2,144 | $ | i 3,527 | $ | i 374,533 | $ | i 387,044 | ||||||||
Recorded
investment in loans(1) | ||||||||||||||||||||||||||||||||
| Term loans by year of origination | Revolving line of credit arrangements(2) | March 31, 2021 | ||||||||||||||||||||||||||||||
| In millions of dollars | 2021 | 2020 | 2019 | 2018 | 2017 | Prior | ||||||||||||||||||||||||||
Investment
grade(3) | ||||||||||||||||||||||||||||||||
Commercial and industrial(4) | $ | i 29,070 | $ | i 11,833 | $ | i 6,534 | $ | i 5,311 | $ | i 3,416 | $ | i 10,120 | $ | i 26,712 | $ | i 92,996 | ||||||||||||||||
Financial
institutions(4) | i 10,473 | i 5,551 | i 2,242 | i 1,582 | i 1,025 | i 2,254 | i 58,910 | i 82,037 | ||||||||||||||||||||||||
| Mortgage and real estate | i 2,473 | i 5,494 | i 5,820 | i 4,827 | i 2,205 | i 2,847 | i 1,728 | i 25,394 | ||||||||||||||||||||||||
Other(5) | i 8,994 | i 6,575 | i 2,392 | i 4,588 | i 606 | i 6,744 | i 32,683 | i 62,582 | ||||||||||||||||||||||||
| Total investment grade | $ | i 51,010 | $ | i 29,453 | $ | i 16,988 | $ | i 16,308 | $ | i 7,252 | $ | i 21,965 | $ | i 120,033 | $ | i 263,009 | ||||||||||||||||
Non-investment
grade(3) | ||||||||||||||||||||||||||||||||
| Accrual | ||||||||||||||||||||||||||||||||
Commercial and industrial(4) | $ | i 12,897 | $ | i 6,422 | $ | i 4,266 | $ | i 3,991 | $ | i 2,850 | $ | i 4,167 | $ | i 21,746 | $ | i 56,339 | ||||||||||||||||
Financial
institutions(4) | i 3,196 | i 2,395 | i 629 | i 555 | i 98 | i 274 | i 2,298 | i 9,445 | ||||||||||||||||||||||||
| Mortgage and real estate | i 944 | i 1,319 | i 2,117 | i 1,755 | i 1,415 | i 1,376 | i 578 | i 9,504 | ||||||||||||||||||||||||
Other(5) | i 1,384 | i 528 | i 682 | i 541 | i 299 | i 591 | i 2,268 | i 6,293 | ||||||||||||||||||||||||
| Non-accrual | ||||||||||||||||||||||||||||||||
Commercial
and industrial(4) | i 81 | i 197 | i 227 | i 86 | i 106 | i 286 | i 1,482 | i 2,465 | ||||||||||||||||||||||||
| Financial institutions | i — | i — | i — | i — | i — | i — | i 36 | i 36 | ||||||||||||||||||||||||
| Mortgage and real estate | i — | i 12 | i 8 | i 55 | i 18 | i 30 | i 373 | i 496 | ||||||||||||||||||||||||
Other(5) | i 7 | i 4 | i 24 | i 38 | i 10 | i 26 | i — | i 109 | ||||||||||||||||||||||||
| Total non-investment grade | $ | i 18,509 | $ | i 10,877 | $ | i 7,953 | $ | i 7,021 | $ | i 4,796 | $ | i 6,750 | $ | i 28,781 | $ | i 84,687 | ||||||||||||||||
Non-rated
private bank loans managed on a delinquency basis(3)(6) | $ | i 2,313 | $ | i 9,755 | $ | i 6,839 | $ | i 3,359 | $ | i 3,488 | $ | i 10,994 | $ | i — | $ | i 36,748 | ||||||||||||||||
Loans
at fair value(7) | i 7,510 | |||||||||||||||||||||||||||||||
| Corporate loans, net of unearned income | $ | i 71,832 | $ | i 50,085 | $ | i 31,780 | $ | i 26,688 | $ | i 15,536 | $ | i 39,709 | $ | i 148,814 | $ | i 391,954 | ||||||||||||||||
Recorded
investment in loans(1) | ||||||||||||||||||||||||||||||||
| Term loans by year of origination | Revolving line of credit arrangements(2) | December 31, 2020 | ||||||||||||||||||||||||||||||
| In millions of dollars | 2020 | 2019 | 2018 | 2017 | 2016 | Prior | ||||||||||||||||||||||||||
Investment
grade(3) | ||||||||||||||||||||||||||||||||
Commercial and industrial(4) | $ | i 38,398 | $ | i 7,607 | $ | i 5,929 | $ | i 3,909 | $ | i 2,094 | $ | i 8,670 | $ | i 25,819 | $ | i 92,426 | ||||||||||||||||
Financial
institutions(4) | i 10,560 | i 2,964 | i 2,106 | i 782 | i 681 | i 2,030 | i 56,239 | i 75,362 | ||||||||||||||||||||||||
| Mortgage and real estate | i 6,793 | i 6,714 | i 5,174 | i 2,568 | i 1,212 | i 1,719 | i 1,557 | i 25,737 | ||||||||||||||||||||||||
Other(5) | i 10,874 | i 3,566 | i 4,597 | i 952 | i 780 | i 5,290 | i 31,696 | i 57,755 | ||||||||||||||||||||||||
| Total investment grade | $ | i 66,625 | $ | i 20,851 | $ | i 17,806 | $ | i 8,211 | $ | i 4,767 | $ | i 17,709 | $ | i 115,311 | $ | i 251,280 | ||||||||||||||||
Non-investment
grade(3) | ||||||||||||||||||||||||||||||||
| Accrual | ||||||||||||||||||||||||||||||||
Commercial and industrial(4) | $ | i 19,683 | $ | i 4,794 | $ | i 4,645 | $ | i 2,883 | $ | i 1,182 | $ | i 4,533 | $ | i 23,400 | $ | i 61,120 | ||||||||||||||||
Financial
institutions(4) | i 7,413 | i 700 | i 654 | i 274 | i 141 | i 197 | i 2,855 | i 12,234 | ||||||||||||||||||||||||
| Mortgage and real estate | i 1,882 | i 1,919 | i 2,058 | i 1,457 | i 697 | i 837 | i 551 | i 9,401 | ||||||||||||||||||||||||
Other(5) | i 1,407 | i 918 | i 725 | i 370 | i 186 | i 657 | i 1,986 | i 6,249 | ||||||||||||||||||||||||
| Non-accrual | ||||||||||||||||||||||||||||||||
Commercial
and industrial(4) | i 260 | i 203 | i 192 | i 143 | i 57 | i 223 | i 1,717 | i 2,795 | ||||||||||||||||||||||||
| Financial institutions | i 1 | i — | i — | i — | i — | i — | i 91 | i 92 | ||||||||||||||||||||||||
| Mortgage and real estate | i 13 | i 4 | i 3 | i 18 | i 8 | i 32 | i 427 | i 505 | ||||||||||||||||||||||||
Other(5) | i 15 | i 3 | i 12 | i 29 | i 2 | i 65 | i 9 | i 135 | ||||||||||||||||||||||||
| Total non-investment grade | $ | i 30,674 | $ | i 8,541 | $ | i 8,289 | $ | i 5,174 | $ | i 2,273 | $ | i 6,544 | $ | i 31,036 | $ | i 92,531 | ||||||||||||||||
Non-rated
private bank loans managed on a delinquency basis(3)(6) | $ | i 9,823 | $ | i 7,121 | $ | i 3,533 | $ | i 3,674 | $ | i 4,300 | $ | i 7,942 | $ | i — | $ | i 36,393 | ||||||||||||||||
Loans
at fair value(7) | i 6,840 | |||||||||||||||||||||||||||||||
| Corporate loans, net of unearned income | $ | i 107,122 | $ | i 36,513 | $ | i 29,628 | $ | i 17,059 | $ | i 11,340 | $ | i 32,195 | $ | i 146,347 | $ | i 387,044 | ||||||||||||||||
| March 31, 2021 | Three Months Ended March 31, 2021 | Three Months Ended March 31, 2020 | |||||||||||||||||||||
| In millions of dollars | Recorded investment(1) | Unpaid principal balance | Related specific allowance | Average carrying value(2) | Interest income recognized | Interest income recognized | |||||||||||||||||
| Non-accrual corporate loans | |||||||||||||||||||||||
| Commercial and industrial | $ | i 2,465 | $ | i 3,069 | $ | i 435 | $ | i 2,812 | $ | i 10 | $ | i 2 | |||||||||||
| Financial institutions | i 36 | i 120 | i 6 | i 134 | i — | i — | |||||||||||||||||
| Mortgage and real estate | i 496 | i 798 | i 38 | i 486 | i — | i — | |||||||||||||||||
| Lease financing | i 27 | i 27 | i — | i 31 | i — | i — | |||||||||||||||||
| Other | i 82 | i 205 | i 10 | i 96 | i 6 | i 13 | |||||||||||||||||
| Total non-accrual corporate loans | $ | i i 3,106 / | $ | i 4,219 | $ | i i 489 / | $ | i 3,559 | $ | i 16 | $ | i 15 | |||||||||||
| December 31, 2020 | ||||||||||||||||||||
| In millions of dollars | Recorded investment(1) | Unpaid principal balance | Related specific allowance | Average carrying value(2) | ||||||||||||||||
| Non-accrual corporate loans | ||||||||||||||||||||
| Commercial and industrial | $ | i 2,795 | $ | i 3,664 | $ | i 442 | $ | i 2,649 | ||||||||||||
| Financial institutions | i 92 | i 181 | i 17 | i 132 | ||||||||||||||||
| Mortgage and real estate | i 505 | i 803 | i 38 | i 413 | ||||||||||||||||
| Lease financing | i 24 | i 24 | i — | i 34 | ||||||||||||||||
| Other | i 111 | i 235 | i 18 | i 174 | ||||||||||||||||
| Total non-accrual corporate loans | $ | i 3,527 | $ | i 4,907 | $ | i 515 | $ | i 3,402 | ||||||||||||
| March 31, 2021 | December 31, 2020 | |||||||||||||
| 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 | $ | i 1,984 | $ | i 435 | $ | i 1,523 | $ | i 442 | ||||||
| Financial institutions | i 34 | i 6 | i 90 | i 17 | ||||||||||
| Mortgage and real estate | i 236 | i 38 | i 246 | i 38 | ||||||||||
| Lease financing | i 23 | i — | i — | i — | ||||||||||
| Other | i 30 | i 10 | i 68 | i 18 | ||||||||||
| Total non-accrual corporate loans with specific allowances | $ | i 2,307 | $ | i 489 | $ | i 1,927 | $ | i 515 | ||||||
| Non-accrual corporate loans without specific allowances | ||||||||||||||
| Commercial and industrial | $ | i 481 | $ | i 1,272 | ||||||||||
| Financial institutions | i 2 | i 2 | ||||||||||||
| Mortgage and real estate | i 260 | i 259 | ||||||||||||
| Lease financing | i 4 | i 24 | ||||||||||||
| Other | i 52 | i 43 | ||||||||||||
| Total non-accrual corporate loans without specific allowances | $ | i 799 | N/A | $ | i 1,600 | 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 | ||||||||||||||||
| Commercial and industrial | $ | i 21 | $ | i — | $ | i — | $ | i 21 | ||||||||||||
| Mortgage and real estate | i 1 | i — | i — | i 1 | ||||||||||||||||
| Other | i 1 | i 1 | i — | i — | ||||||||||||||||
| Total | $ | i 23 | $ | i 1 | $ | i — | $ | i 22 | ||||||||||||
| In millions of dollars | Carrying value of TDRs modified during the period | TDRs involving changes in the amount and/or timing of principal payments(3) | 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 | ||||||||||||||||
| Commercial and industrial | $ | i 94 | $ | i — | $ | i — | $ | i 94 | ||||||||||||
| Mortgage and real estate | i 4 | i — | i — | i 4 | ||||||||||||||||
| Total | $ | i 98 | $ | i — | $ | i — | $ | i 98 | ||||||||||||
| In millions of dollars | TDR balances at March 31, 2021 | TDR loans that re-defaulted in 2021 within one year of modification | TDR balances at March 31, 2020 | TDR loans that re-defaulted in 2020 within one year of modification | ||||||||||||||||
| Commercial and industrial | $ | i 283 | $ | i — | $ | i 685 | $ | i — | ||||||||||||
| Mortgage and real estate | i 83 | i — | i 77 | i — | ||||||||||||||||
| Other | i 35 | i — | i 15 | i — | ||||||||||||||||
Total(1) | $ | i 401 | $ | i — | $ | i 777 | $ | i — | ||||||||||||
| Three Months Ended March 31, | ||||||||||||||
| In millions of dollars | 2021 | 2020 | ||||||||||||
| Allowance for credit losses on loans (ACLL) at beginning of period | $ | i 24,956 | $ | i 12,783 | ||||||||||
Adjustments
to opening balance:(1) | ||||||||||||||
Financial instruments—credit losses (CECL)(1) | i — | i 4,201 | ||||||||||||
Variable
post-charge-off third-party collection costs(1) | i — | ( i 443) | ||||||||||||
| Adjusted ACLL at beginning of period | $ | i 24,956 | $ | i 16,541 | ||||||||||
| Gross credit losses on loans | $ | ( i 2,208) | $ | ( i 2,479) | ||||||||||
| Gross recoveries on loans | i 460 | i 420 | ||||||||||||
| Net credit losses on loans (NCLs) | $ | ( i 1,748) | $ | ( i 2,059) | ||||||||||
| Replenishment of NCLs | $ | i 1,748 | $ | i 2,059 | ||||||||||
| Net reserve builds (releases) for loans | ( i 3,068) | i 4,094 | ||||||||||||
| Net specific reserve builds (releases) for loans | ( i 159) | i 224 | ||||||||||||
| Total provision for credit losses on loans (PCLL) | $ | ( i 1,479) | $ | i 6,377 | ||||||||||
| Initial allowance for credit losses on newly purchased credit deteriorated assets during the period | i — | i 4 | ||||||||||||
| Other, net (see table below) | ( i 91) | ( i 483) | ||||||||||||
| ACLL at end of period | $ | i 21,638 | $ | i 20,380 | ||||||||||
Allowance
for credit losses on unfunded lending commitments (ACLUC) at beginning of period(2) | $ | i 2,655 | $ | i 1,456 | ||||||||||
Adjustment
to opening balance for CECL adoption(1) | i — | ( i 194) | ||||||||||||
| Provision (release) for credit losses on unfunded lending commitments | ( i 626) | i 557 | ||||||||||||
Other,
net | ( i 17) | ( i 6) | ||||||||||||
ACLUC
at end of period(2) | $ | i 2,012 | $ | i 1,813 | ||||||||||
| Total allowance for credit losses on loans, leases and unfunded lending commitments | $ | i 23,650 | $ | i 22,193 | ||||||||||
| Other, net details | Three Months Ended March 31, | |||||||||||||
| In millions of dollars | 2021 | 2020 | ||||||||||||
| Sales or transfers of various consumer loan portfolios to HFS | $ | i — | $ | ( i 3) | ||||||||||
| FX translation | ( i 108) | ( i 483) | ||||||||||||
| Other | i 17 | i 3 | ||||||||||||
| Other, net | $ | ( i 91) | $ | ( i 483) | ||||||||||
| Three Months Ended | ||||||||||||||||||||
| March 31, 2021 | March 31, 2020 | |||||||||||||||||||
| In millions of dollars | Corporate | Consumer | Total | Corporate | Consumer | Total | ||||||||||||||
| ACLL at beginning of period | $ | i 5,402 | $ | i 19,554 | $ | i 24,956 | $ | i 2,886 | $ | i 9,897 | $ | i 12,783 | ||||||||
Adjustments
to opening balance(1) | ||||||||||||||||||||
| Financial instruments—credit losses (CECL) | i — | i — | i — | ( i 721) | i 4,922 | i 4,201 | ||||||||||||||
| Variable post-charge-off third-party collection costs | i — | i — | i — | i — | ( i 443) | ( i 443) | ||||||||||||||
| Adjusted ACLL at beginning of period | $ | i 5,402 | $ | i 19,554 | $ | i 24,956 | $ | i 2,165 | $ | i 14,376 | $ | i 16,541 | ||||||||
| Charge-offs | ( i 203) | ( i 2,005) | ( i 2,208) | ( i 139) | ( i 2,340) | ( i 2,479) | ||||||||||||||
| Recoveries | i 17 | i 443 | i 460 | i 12 | i 408 | i 420 | ||||||||||||||
| Replenishment of net charge-offs | i 186 | i 1,562 | i 1,748 | i 127 | i 1,932 | i 2,059 | ||||||||||||||
| Net reserve builds (releases) | ( i 1,273) | ( i 1,795) | ( i 3,068) | i 1,268 | i 2,826 | i 4,094 | ||||||||||||||
| Net specific reserve builds (releases) | ( i 38) | ( i 121) | ( i 159) | i 48 | i 176 | i 224 | ||||||||||||||
| Initial allowance for credit losses on newly purchased credit-deteriorated assets during the period | i — | i — | i — | i — | i 4 | i 4 | ||||||||||||||
| Other | ( i 7) | ( i 84) | ( i 91) | ( i 30) | ( i 453) | ( i 483) | ||||||||||||||
| Ending balance | $ | i 4,084 | $ | i 17,554 | $ | i 21,638 | $ | i 3,451 | $ | i 16,929 | $ | i 20,380 | ||||||||
| March 31, 2021 | December 31, 2020 | |||||||||||||||||||
| In millions of dollars | Corporate | Consumer | Total | Corporate | Consumer | Total | ||||||||||||||
| Allowance for credit losses on loans | ||||||||||||||||||||
| Collectively evaluated | $ | i 3,595 | $ | i 16,339 | $ | i 19,934 | $ | i 4,887 | $ | i 18,207 | $ | i 23,094 | ||||||||
| Individually evaluated | i i 489 / | i i 1,214 / | i 1,703 | i 515 | i 1,345 | i 1,860 | ||||||||||||||
| Purchased credit deteriorated | i — | i 1 | i 1 | i — | i 2 | i 2 | ||||||||||||||
| Total allowance for credit losses on loans | $ | i 4,084 | $ | i 17,554 | $ | i 21,638 | $ | i 5,402 | $ | i 19,554 | $ | i 24,956 | ||||||||
| Loans, net of unearned income | ||||||||||||||||||||
| Collectively evaluated | $ | i 381,338 | $ | i 269,151 | $ | i 650,489 | $ | i 376,677 | $ | i 283,885 | $ | i 660,562 | ||||||||
| Individually evaluated | i i 3,106 / | i 4,733 | i 7,839 | i 3,527 | i 4,799 | i 8,326 | ||||||||||||||
| Purchased credit deteriorated | i — | i 135 | i 135 | i — | i 141 | i 141 | ||||||||||||||
| Held at fair value | i 7,510 | i 15 | i 7,525 | i 6,840 | i 14 | i 6,854 | ||||||||||||||
| Total loans, net of unearned income | $ | i 391,954 | $ | i 274,034 | $ | i 665,988 | $ | i 387,044 | $ | i 288,839 | $ | i 675,883 | ||||||||
| Three Months Ended March 31, 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 period | $ | i 3 | $ | i 74 | $ | i 6 | $ | i 3 | $ | i 86 | ||||||||||||||||
| Gross credit losses | i — | i — | i — | i — | i — | |||||||||||||||||||||
| Gross recoveries | i 3 | i — | i — | i — | i 3 | |||||||||||||||||||||
| Net credit losses (NCLs) | $ | i 3 | $ | i — | $ | i — | $ | i — | $ | i 3 | ||||||||||||||||
| NCLs | $ | ( i 3) | $ | i — | $ | i — | $ | i — | $ | ( i 3) | ||||||||||||||||
| Net reserve builds (releases) | i 1 | ( i 5) | ( i 1) | ( i 3) | ( i 8) | |||||||||||||||||||||
| Net specific reserve builds (releases) | i — | i — | i — | i — | i — | |||||||||||||||||||||
| Total provision for credit losses on HTM debt securities | $ | ( i 2) | $ | ( i 5) | $ | ( i 1) | $ | ( i 3) | $ | ( i 11) | ||||||||||||||||
| Other, net | $ | i — | $ | i — | $ | i — | $ | i — | $ | i — | ||||||||||||||||
| Initial allowance for credit losses on newly purchased credit-deteriorated securities during the period | i — | i — | i — | i — | i — | |||||||||||||||||||||
| Allowance for credit losses on HTM debt securities at end of period | $ | i 4 | $ | i 69 | $ | i 5 | $ | i — | $ | i 78 | ||||||||||||||||
| Three Months Ended March 31, 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 period | $ | i — | $ | i — | $ | i — | $ | i — | $ | i — | ||||||||||||||||
| Adjustment to opening balance for CECL adoption | i — | i 61 | i 4 | i 5 | i 70 | |||||||||||||||||||||
| Net credit losses (NCLs) | $ | i — | $ | i — | $ | i — | $ | i — | $ | i — | ||||||||||||||||
| NCLs | $ | i — | $ | i — | $ | i — | $ | i — | $ | i — | ||||||||||||||||
| Net reserve builds (releases) | i — | i 5 | i — | i 1 | i 6 | |||||||||||||||||||||
| Net specific reserve builds (releases) | i — | i — | i — | i — | i — | |||||||||||||||||||||
| Total provision for credit losses on HTM debt securities | $ | i — | $ | i 5 | $ | i — | $ | i 1 | $ | i 6 | ||||||||||||||||
| Other, net | $ | i — | $ | i — | $ | i — | $ | i — | $ | i — | ||||||||||||||||
| Initial allowance for credit losses on newly purchased credit-deteriorated securities during the period | i — | i — | i — | i — | i — | |||||||||||||||||||||
| Allowance for credit losses on HTM debt securities at end of period | $ | i — | $ | i 66 | $ | i 4 | $ | i 6 | $ | i 76 | ||||||||||||||||
| Three Months Ended March 31, 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 at beginning of period | $ | i — | $ | i 20 | $ | i 10 | $ | i — | $ | i 25 | $ | i 55 | ||||||||||||||
| Net credit losses (NCLs) | $ | i — | $ | i — | $ | i — | $ | i — | $ | i — | $ | i — | ||||||||||||||
| NCLs | $ | i — | $ | i — | $ | i — | $ | i — | $ | i — | $ | i — | ||||||||||||||
| Net reserve builds (releases) | i — | i 9 | ( i 5) | i — | i 5 | i 9 | ||||||||||||||||||||
| Total provision for credit losses | $ | i — | $ | i 9 | $ | ( i 5) | $ | i — | $ | i 5 | $ | i 9 | ||||||||||||||
| Other, net | $ | i — | $ | ( i 1) | $ | i — | $ | i — | $ | i — | $ | ( i 1) | ||||||||||||||
| Allowance for credit losses on other assets at end of period | $ | i — | $ | i 28 | $ | i 5 | $ | i — | $ | i 30 | $ | i 63 | ||||||||||||||
| Three Months Ended March 31, 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 period | $ | i — | $ | i — | $ | i — | $ | i — | $ | i — | $ | i — | ||||||||||||||
| Adjustment to opening balance for CECL adoption | i 6 | i 14 | i 2 | i 1 | i 3 | i 26 | ||||||||||||||||||||
| Net credit losses (NCLs) | $ | i — | $ | i — | $ | i — | $ | i — | $ | i — | $ | i — | ||||||||||||||
| NCLs | $ | i — | $ | i — | $ | i — | $ | i — | $ | i — | $ | i — | ||||||||||||||
| Net reserve builds (releases) | ( i 6) | ( i 6) | i 3 | ( i 1) | i 6 | ( i 4) | ||||||||||||||||||||
| Total provision for credit losses | $ | ( i 6) | $ | ( i 6) | $ | i 3 | $ | ( i 1) | $ | i 6 | $ | ( i 4) | ||||||||||||||
| Other, net | $ | i — | $ | i — | $ | i — | $ | i — | $ | i 32 | $ | i 32 | ||||||||||||||
| Allowance for credit losses on other assets at end of period | $ | i — | $ | i 8 | $ | i 5 | $ | i — | $ | i 41 | $ | i 54 | ||||||||||||||
| In millions of dollars | Global Consumer Banking | Institutional Clients Group | Total | ||||||||
| Balance at December 31, 2020 | $ | i 12,142 | $ | i 10,020 | $ | i 22,162 | |||||
| Foreign currency translation | ( i 68) | ( i 189) | ( i 257) | ||||||||
| Balance at March 31, 2021 | $ | i 12,074 | $ | i 9,831 | $ | i 21,905 | |||||
| March 31, 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 | $ | i 5,614 | $ | i 4,239 | $ | i 1,375 | $ | i 5,648 | $ | i 4,229 | $ | i 1,419 | ||||||||
Credit
card contract-related intangibles(1) | i 3,906 | i 1,288 | i 2,618 | i 3,929 | i 1,276 | i 2,653 | ||||||||||||||
| Core deposit intangibles | i 44 | i 44 | i — | i 45 | i 44 | i 1 | ||||||||||||||
| Other customer relationships | i 426 | i 299 | i 127 | i 455 | i 314 | i 141 | ||||||||||||||
| Present value of future profits | i 31 | i 29 | i 2 | i 32 | i 30 | i 2 | ||||||||||||||
| Indefinite-lived intangible assets | i 185 | — | i 185 | i 190 | — | i 190 | ||||||||||||||
| Other | i 61 | i 60 | i 1 | i 72 | i 67 | i 5 | ||||||||||||||
| Intangible assets (excluding MSRs) | $ | i 10,267 | $ | i 5,959 | $ | i 4,308 | $ | i 10,371 | $ | i 5,960 | $ | i 4,411 | ||||||||
Mortgage
servicing rights (MSRs)(2) | i 433 | — | i 433 | i 336 | — | i 336 | ||||||||||||||
| Total intangible assets | $ | i 10,700 | $ | i 5,959 | $ | i 4,741 | $ | i 10,707 | $ | i 5,960 | $ | i 4,747 | ||||||||
| In millions of dollars | Net carrying amount at December 31, 2020 | Acquisitions/renewals/ divestitures | Amortization | Impairments | FX translation and other | Net carrying amount at March 31, 2021 | ||||||||||||||
Purchased credit card relationships(1) | $ | i 1,419 | $ | i — | $ | ( i 43) | $ | i — | $ | ( i 1) | $ | i 1,375 | ||||||||
Credit
card contract-related intangibles(2) | i 2,653 | i — | ( i 35) | i — | i — | i 2,618 | ||||||||||||||
| Core deposit intangibles | i 1 | i — | ( i 1) | i — | i — | i — | ||||||||||||||
| Other customer relationships | i 141 | i — | ( i 6) | i — | ( i 8) | i 127 | ||||||||||||||
| Present value of future profits | i 2 | i — | i — | i — | i — | i 2 | ||||||||||||||
| Indefinite-lived intangible assets | i 190 | i — | i — | i — | ( i 5) | i 185 | ||||||||||||||
| Other | i 5 | i 5 | ( i 10) | i — | i 1 | i 1 | ||||||||||||||
| Intangible assets (excluding MSRs) | $ | i 4,411 | $ | i 5 | $ | ( i 95) | $ | i — | $ | ( i 13) | $ | i 4,308 | ||||||||
Mortgage
servicing rights (MSRs)(3) | i 336 | i 433 | ||||||||||||||||||
| Total intangible assets | $ | i 4,747 | $ | i 4,741 | ||||||||||||||||
| In millions of dollars | March
31, 2021 | December 31, 2020 | |||||||||
| Commercial paper | |||||||||||
Bank(1) | $ | i 10,026 | $ | i 10,022 | |||||||
Broker-dealer
and other(2) | i 6,995 | i 7,988 | |||||||||
| Total commercial paper | $ | i 17,021 | $ | i 18,010 | |||||||
Other
borrowings(3) | i 15,066 | i 11,504 | |||||||||
| Total | $ | i 32,087 | $ | i 29,514 | |||||||
| In millions of dollars | March 31, 2021 | December 31, 2020 | ||||||
Citigroup Inc.(1) | $ | i 164,099 | $ | i 170,563 | ||||
Bank(2) | i 36,488 | i 44,742 | ||||||
Broker-dealer
and other(3) | i 55,748 | i 56,381 | ||||||
| Total | $ | i 256,335 | $ | i 271,686 | ||||
| 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 | i 194,053 | $ | i 194 | i 7.625 | % | i 6,003 | $ | i 200 | Dec. 1, 2036 | Not redeemable | |||||||||||||||
| Citigroup Capital XIII | Sept. 2010 | i 89,840,000 | i 2,246 | 3
mo. LIBOR + i 637 bps | i 1,000 | i 2,246 | Oct. 30, 2040 | Oct. 30, 2015 | ||||||||||||||||||
| Citigroup Capital XVIII | Jun. 2007 | i 99,901 | i 138 | 3
mo. sterling LIBOR + i 88.75 bps | i 50 | i 138 | Jun. 28, 2067 | Jun. 28, 2017 | ||||||||||||||||||
| Total obligated | $ | i 2,578 | $ | i 2,584 | ||||||||||||||||||||||
| 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) | ||||||||||||||||
| Balance, December 31, 2020 | $ | i 3,320 | $ | ( i 1,419) | $ | i 1,593 | $ | ( i 6,864) | $ | ( i 28,641) | $ | ( i 47) | $ | ( i 32,058) | |||||||||
| Other
comprehensive income before reclassifications | ( i 1,519) | ( i 84) | ( i 344) | i 653 | ( i 1,274) | ( i 10) | ( i 2,578) | ||||||||||||||||
Increase
(decrease) due to amounts reclassified from AOCI | ( i 266) | i 42 | ( i 212) | i 61 | i — | i — | ( i 375) | ||||||||||||||||
Change,
net of taxes | $ | ( i 1,785) | $ | ( i 42) | $ | ( i 556) | $ | i 714 | $ | ( i 1,274) | $ | ( i 10) | $ | ( i 2,953) | |||||||||
| Balance at March 31, 2021 | $ | i 1,535 | $ | ( i 1,461) | $ | i 1,037 | $ | ( i 6,150) | $ | ( i 29,915) | $ | ( i 57) | $ | ( i 35,011) | |||||||||
| 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) | ||||||||||||||||
| Balance, December 31, 2019 | $ | ( i 265) | $ | ( i 944) | $ | i 123 | $ | ( i 6,809) | $ | ( i 28,391) | $ | ( i 32) | $ | ( i 36,318) | |||||||||
| Other
comprehensive income before reclassifications | i 3,417 | i 3,116 | i 1,898 | ( i 344) | ( i 4,109) | i 27 | i 4,005 | ||||||||||||||||
Increase
(decrease) due to amounts reclassified from AOCI | ( i 289) | i 24 | ( i 1) | i 58 | i — | i — | ( i 208) | ||||||||||||||||
Change,
net of taxes | $ | i 3,128 | $ | i 3,140 | $ | i 1,897 | $ | ( i 286) | $ | ( i 4,109) | $ | i 27 | $ | i 3,797 | |||||||||
| Balance at March 31, 2020 | $ | i 2,863 | $ | i 2,196 | $ | i 2,020 | $ | ( i 7,095) | $ | ( i 32,500) | $ | ( i 5) | $ | ( i 32,521) | |||||||||
| In millions of dollars | Pretax | Tax effect | After-tax | ||||||||
| Balance, December 31, 2020 | $ | ( i 36,992) | $ | i 4,934 | $ | ( i 32,058) | |||||
| Change in net unrealized gains (losses) on debt securities | ( i 2,427) | i 642 | ( i 1,785) | ||||||||
| Debt valuation adjustment (DVA) | ( i 38) | ( i 4) | ( i 42) | ||||||||
| Cash flow hedges | ( i 729) | i 173 | ( i 556) | ||||||||
| Benefit plans | i 907 | ( i 193) | i 714 | ||||||||
| Foreign currency translation adjustment | ( i 1,339) | i 65 | ( i 1,274) | ||||||||
| Excluded component of fair value hedges | ( i 13) | i 3 | ( i 10) | ||||||||
| Change | $ | ( i 3,639) | $ | i 686 | $ | ( i 2,953) | |||||
| Balance at March 31, 2021 | $ | ( i 40,631) | $ | i 5,620 | $ | ( i 35,011) | |||||
| In millions of dollars | Pretax | Tax effect | After-tax | ||||||||
| Balance, December 31, 2019 | $ | ( i 42,772) | $ | i 6,454 | $ | ( i 36,318) | |||||
| Change in net unrealized gains (losses) on debt securities | i 4,121 | ( i 993) | i 3,128 | ||||||||
| Debt valuation adjustment (DVA) | i 4,188 | ( i 1,048) | i 3,140 | ||||||||
| Cash flow hedges | i 2,484 | ( i 587) | i 1,897 | ||||||||
| Benefit plans | ( i 418) | i 132 | ( i 286) | ||||||||
| Foreign currency translation adjustment | ( i 4,055) | ( i 54) | ( i 4,109) | ||||||||
| Excluded component of fair value hedges | i 33 | ( i 6) | i 27 | ||||||||
| Change | $ | i 6,353 | $ | ( i 2,556) | $ | i 3,797 | |||||
| Balance, March 31, 2020 | $ | ( i 36,419) | $ | i 3,898 | $ | ( i 32,521) | |||||
| Increase (decrease) in AOCI due to amounts reclassified to Consolidated Statement of Income | ||||||||||||||
| Three Months Ended March 31, | ||||||||||||||
| In millions of dollars | 2021 | 2020 | ||||||||||||
| Realized (gains) losses on sales of investments | $ | ( i 401) | $ | ( i 432) | ||||||||||
| Gross impairment losses | i 69 | i 52 | ||||||||||||
| Subtotal, pretax | $ | ( i 332) | $ | ( i 380) | ||||||||||
| Tax effect | i 66 | i 91 | ||||||||||||
Net
realized (gains) losses on investments after-tax(1) | $ | ( i 266) | $ | ( i 289) | ||||||||||
| Realized DVA (gains) losses on fair value option liabilities, pretax | $ | i 56 | $ | i 32 | ||||||||||
| Tax effect | ( i 14) | ( i 8) | ||||||||||||
| Net realized debt valuation adjustment, after-tax | $ | i 42 | $ | i 24 | ||||||||||
| Interest rate contracts | $ | ( i 278) | $ | ( i 3) | ||||||||||
| Foreign exchange contracts | i 1 | i 1 | ||||||||||||
| Subtotal, pretax | $ | ( i 277) | $ | ( i 2) | ||||||||||
| Tax effect | i 65 | i 1 | ||||||||||||
Amortization
of cash flow hedges, after-tax(2) | $ | ( i 212) | $ | ( i 1) | ||||||||||
| Amortization of unrecognized: | ||||||||||||||
| Prior service cost (benefit) | $ | ( i 6) | $ | ( i 3) | ||||||||||
| Net actuarial loss | i 87 | i 79 | ||||||||||||
Curtailment/settlement
impact(3) | i — | i — | ||||||||||||
| Subtotal, pretax | $ | i 81 | $ | i 76 | ||||||||||
| Tax effect | ( i 20) | ( i 18) | ||||||||||||
Amortization
of benefit plans, after-tax(3) | $ | i 61 | $ | i 58 | ||||||||||
| Excluded component of fair value hedges, pretax | $ | i — | $ | i — | ||||||||||
| Tax effect | i — | i — | ||||||||||||
| Excluded component of fair value hedges, after-tax | $ | i — | $ | i — | ||||||||||
| Foreign currency translation adjustment, pretax | $ | i — | $ | i — | ||||||||||
| Tax effect | i — | i — | ||||||||||||
| Foreign currency translation adjustment, after-tax | $ | i — | $ | i — | ||||||||||
Total
amounts reclassified out of AOCI, pretax | $ | ( i 472) | $ | ( i 274) | ||||||||||
| Total tax effect | i 97 | i 66 | ||||||||||||
Total
amounts reclassified out of AOCI, after-tax | $ | ( i 375) | $ | ( i 208) | ||||||||||
| As of March 31, 2021 | ||||||||||||||||||||||||||
Maximum
exposure to loss in significant unconsolidated VIEs(1) | ||||||||||||||||||||||||||
Funded exposures(2) | Unfunded exposures | |||||||||||||||||||||||||
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 | $ | i 29,729 | $ | i 29,729 | $ | i — | $ | i — | $ | i — | $ | i — | $ | i — | $ | i — | ||||||||||
Mortgage
securitizations(4) | ||||||||||||||||||||||||||
U.S. agency-sponsored | i 115,980 | i — | i 115,980 | i 1,645 | i — | i — | i 52 | i 1,697 | ||||||||||||||||||
Non-agency-sponsored | i 56,969 | i 862 | i 56,107 | i 2,724 | i — | i 5 | i 1 | i 2,730 | ||||||||||||||||||
| Citi-administered asset-backed commercial paper conduits | i 16,493 | i 16,493 | i — | i — | i — | i — | i — | i — | ||||||||||||||||||
| Collateralized loan obligations (CLOs) | i 12,126 | i — | i 12,126 | i 4,015 | i — | i — | i — | i 4,015 | ||||||||||||||||||
Asset-based
financing(5) | i 222,306 | i 7,776 | i 214,530 | i 27,004 | i 1,467 | i 10,626 | i — | i 39,097 | ||||||||||||||||||
| Municipal securities tender option bond trusts (TOBs) | i 3,324 | i 910 | i 2,414 | i 7 | i — | i 1,557 | i — | i 1,564 | ||||||||||||||||||
Municipal
investments | i 21,548 | i — | i 21,548 | i 2,663 | i 3,917 | i 3,063 | i — | i 9,643 | ||||||||||||||||||
Client
intermediation | i 1,177 | i 736 | i 441 | i 88 | i — | i — | i 56 | i 144 | ||||||||||||||||||
| Investment funds | i 471 | i 150 | i 321 | i 2 | i — | i 14 | i 2 | i 18 | ||||||||||||||||||
Other | i 469 | i — | i 469 | i 169 | i — | i 50 | i — | i 219 | ||||||||||||||||||
Total | $ | i 480,592 | $ | i 56,656 | $ | i 423,936 | $ | i 38,317 | $ | i 5,384 | $ | i 15,315 | $ | i 111 | $ | i 59,127 | ||||||||||
| As of December 31, 2020 | ||||||||||||||||||||||||||
Maximum exposure to loss in significant unconsolidated VIEs(1) | ||||||||||||||||||||||||||
Funded exposures(2) | Unfunded exposures | |||||||||||||||||||||||||
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 | $ | i 32,420 | $ | i 32,420 | $ | i — | $ | i — | $ | i — | $ | i — | $ | i — | $ | i — | ||||||||||
Mortgage
securitizations(4) | ||||||||||||||||||||||||||
U.S. agency-sponsored | i 123,999 | i — | i 123,999 | i 1,948 | i — | i — | i 61 | i 2,009 | ||||||||||||||||||
Non-agency-sponsored | i 46,132 | i 939 | i 45,193 | i 2,550 | i — | i 2 | i 1 | i 2,553 | ||||||||||||||||||
| Citi-administered asset-backed commercial paper conduits | i 16,730 | i 16,730 | i — | i — | i — | i — | i — | i — | ||||||||||||||||||
| Collateralized loan obligations (CLOs) | i 18,332 | i — | i 18,332 | i 4,273 | i — | i — | i — | i 4,273 | ||||||||||||||||||
Asset-based
financing(5) | i 222,274 | i 8,069 | i 214,205 | i 25,153 | i 1,587 | i 9,114 | i — | i 35,854 | ||||||||||||||||||
| Municipal securities tender option bond trusts (TOBs) | i 3,349 | i 835 | i 2,514 | i — | i — | i 1,611 | i — | i 1,611 | ||||||||||||||||||
Municipal
investments | i 20,335 | i — | i 20,335 | i 2,569 | i 4,056 | i 3,041 | i — | i 9,666 | ||||||||||||||||||
Client
intermediation | i 1,352 | i 910 | i 442 | i 88 | i — | i — | i 56 | i 144 | ||||||||||||||||||
| Investment funds | i 488 | i 153 | i 335 | i — | i — | i 15 | i — | i 15 | ||||||||||||||||||
Other | i — | i — | i — | i — | i — | i — | i — | i — | ||||||||||||||||||
Total | $ | i 485,411 | $ | i 60,056 | $ | i 425,355 | $ | i 36,581 | $ | i 5,643 | $ | i 13,783 | $ | i 118 | $ | i 56,125 | ||||||||||
| March 31, 2021 | December 31, 2020 | |||||||||||||
In millions of dollars | Liquidity facilities | Loan/equity commitments | Liquidity facilities | Loan/equity commitments | ||||||||||
| Non-agency-sponsored mortgage securitizations | $ | i — | $ | i 5 | $ | i — | $ | i 2 | ||||||
Asset-based
financing | i — | i 10,626 | i — | i 9,114 | ||||||||||
Municipal
securities tender option bond trusts (TOBs) | i 1,557 | i — | i 1,611 | i — | ||||||||||
Municipal
investments | i — | i 3,063 | i — | i 3,041 | ||||||||||
Investment
funds | i — | i 14 | i — | i 15 | ||||||||||
Other | i — | i 50 | i — | i — | ||||||||||
Total
funding commitments | $ | i 1,557 | $ | i 13,758 | $ | i 1,611 | $ | i 12,172 | ||||||
In billions of dollars | March 31, 2021 | December 31, 2020 | ||||||
Cash | $ | i — | $ | i — | ||||
Trading
account assets | i 1.8 | i 2.0 | ||||||
Investments | i 10.2 | i 10.6 | ||||||
Total
loans, net of allowance | i 31.3 | i 29.3 | ||||||
Other | i 0.4 | i 0.3 | ||||||
Total
assets | $ | i 43.7 | $ | i 42.2 | ||||
In billions of dollars | March 31, 2021 | December 31, 2020 | ||||||
Ownership interests in principal amount of trust credit card receivables | ||||||||
Sold
to investors via trust-issued securities | $ | i 12.1 | $ | i 15.7 | ||||
Retained
by Citigroup as trust-issued securities | i 7.6 | i 7.9 | ||||||
Retained
by Citigroup via non-certificated interests | i 12.1 | i 11.1 | ||||||
Total
| $ | i 31.8 | $ | i 34.7 | ||||
| Three Months Ended March 31, | ||||||||
In billions of dollars | 2021 | 2020 | ||||||
Proceeds from new securitizations | $ | i — | $ | i — | ||||
Pay
down of maturing notes | ( i 3.6) | i — | ||||||
In billions of dollars | Mar. 31, 2021 | Dec. 31, 2020 | ||||||
Term
notes issued to third parties | $ | i 10.6 | $ | i 13.9 | ||||
| Term notes retained by Citigroup affiliates | i 2.6 | i 2.7 | ||||||
Total
Master Trust liabilities | $ | i 13.2 | $ | i 16.6 | ||||
In billions of dollars | Mar. 31, 2021 | Dec. 31, 2020 | ||||||
Term
notes issued to third parties | $ | i 1.5 | $ | i 1.8 | ||||
| Term notes retained by Citigroup affiliates | i 5.0 | i 5.2 | ||||||
Total
Omni Trust liabilities | $ | i 6.5 | $ | i 7.0 | ||||
| Three Months Ended March 31, | ||||||||||||||
| 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 | $ | i 3.0 | $ | i 11.0 | $ | i 2.0 | $ | i 1.6 | ||||||
Proceeds
from new securitizations | i 3.2 | i 10.6 | i 2.1 | i 2.5 | ||||||||||
Purchases
of previously transferred financial assets | i 0.1 | i — | i — | i — | ||||||||||
| March 31, 2021 | December 31, 2020 | |||||||||||||||||||
Non-agency-sponsored mortgages(1) | Non-agency-sponsored mortgages(1) | |||||||||||||||||||
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) | $ | i 421 | $ | i 2,402 | $ | i 236 | $ | i 315 | $ | i 1,210 | $ | i 145 | ||||||||
| Three Months Ended March 31, 2021 | |||||||||||
Non-agency-sponsored mortgages(1) | |||||||||||
U.S. agency-
sponsored mortgages | Senior interests | Subordinated interests | |||||||||
| Weighted average discount rate | i 8.8 | % | i 0.2 | % | i 3.2 | % | |||||
| Weighted average constant prepayment rate | i 5.8 | % | i — | % | i 12.5 | % | |||||
Weighted
average anticipated net credit losses(2) | NM | i 0.4 | % | i 1.7 | % | ||||||
Weighted
average life | i 7.7 years | i 0.8 years | NM | ||||||||
| Three Months Ended March 31, 2020 | |||||||||||
Non-agency-sponsored mortgages(1) | |||||||||||
| U.S. agency- sponsored mortgages | Senior
interests | Subordinated interests | |||||||||
| Weighted average discount rate | i 8.5 | % | i 1.3 | % | i — | % | |||||
| Weighted average constant prepayment rate | i 25.7 | % | i — | % | i — | % | |||||
Weighted
average anticipated net credit losses(2) | NM | i 1.6 | % | i — | % | ||||||
Weighted
average life | i 5.2 years | i 4.2 years | NM | ||||||||
| March 31, 2021 | |||||||||||
Non-agency-sponsored
mortgages(1) | |||||||||||
| U.S. agency- sponsored mortgages | Senior interests | Subordinated interests | |||||||||
| Weighted average discount rate | i 7.6 | % | i 2.8 | % | i 10.6 | % | |||||
| Weighted average constant prepayment rate | i 11.0 | % | i 4.0 | % | i 4.7 | % | |||||
Weighted
average anticipated net credit losses(2) | NM | i 1.0 | % | i 1.5 | % | ||||||
Weighted
average life | i 5.9 years | i 0.3 years | i 9.6 years | ||||||||
| December 31, 2020 | |||||||||||
Non-agency-sponsored mortgages(1) | |||||||||||
| U.S. agency- sponsored mortgages | Senior interests | Subordinated interests | |||||||||
| Weighted average discount rate | i 5.9 | % | i 7.2 | % | i 4.3 | % | |||||
| Weighted average constant prepayment rate | i 22.7 | % | i 5.3 | % | i 4.7 | % | |||||
Weighted
average anticipated net credit losses(2) | NM | i 1.2 | % | i 1.4 | % | ||||||
Weighted
average life | i 4.5 years | i 5.3 years | i 4.7 years | ||||||||
| March 31, 2021 | |||||||||||
| Non-agency-sponsored mortgages | |||||||||||
In millions of dollars | U.S. agency- sponsored mortgages | Senior interests | Subordinated interests | ||||||||
Discount rate | |||||||||||
Adverse
change of 10% | $ | ( i 12) | $ | i — | $ | i — | |||||
Adverse
change of 20% | ( i 23) | i — | ( i 1) | ||||||||
Constant
prepayment rate | |||||||||||
Adverse change of 10% | ( i 20) | i — | i — | ||||||||
Adverse
change of 20% | ( i 38) | i — | i — | ||||||||
Anticipated
net credit losses | |||||||||||
Adverse change of 10% | NM | i — | i — | ||||||||
Adverse
change of 20% | NM | i — | i — | ||||||||
| December 31, 2020 | |||||||||||
| Non-agency-sponsored mortgages | |||||||||||
In millions of dollars | U.S. agency- sponsored mortgages | Senior interests | Subordinated interests | ||||||||
Discount rate | |||||||||||
Adverse change of 10% | $ | ( i 8) | $ | i — | $ | ( i 1) | |||||
Adverse
change of 20% | ( i 15) | ( i 1) | ( i 1) | ||||||||
Constant
prepayment rate | |||||||||||
Adverse change of 10% | ( i 21) | i — | i — | ||||||||
Adverse
change of 20% | ( i 40) | i — | i — | ||||||||
Anticipated
net credit losses | |||||||||||
Adverse change of 10% | NM | i — | i — | ||||||||
Adverse
change of 20% | NM | i — | i — | ||||||||
| Liquidation losses | ||||||||||||||||||||||||||
| Securitized assets | 90 days past due | Three Months Ended March 31, | ||||||||||||||||||||||||
| In billions of dollars, except liquidation losses in millions | Mar. 31, 2021 | Dec. 31, 2020 | Mar. 31, 2021 | Dec. 31, 2020 | 2021 | 2020 | ||||||||||||||||||||
Securitized
assets | ||||||||||||||||||||||||||
Residential mortgages(1) | $ | i 17.4 | $ | i 16.9 | $ | i 0.4 | $ | i 0.5 | $ | i 1.5 | $ | i 11.0 | ||||||||||||||
Commercial
and other | i 24.6 | i 23.9 | i — | i — | i — | i — | ||||||||||||||||||||
Total | $ | i 42.0 | $ | i 40.8 | $ | i 0.4 | $ | i 0.5 | $ | i 1.5 | $ | i 11.0 | ||||||||||||||
| Three Months Ended March 31, | ||||||||
| In millions of dollars | 2021 | 2020 | ||||||
| Balance, beginning of period | $ | i 336 | $ | i 495 | ||||
| Originations | i 43 | i 32 | ||||||
| Changes in fair value of MSRs due to changes in inputs and assumptions | i 73 | ( i 143) | ||||||
Other
changes(1) | ( i 19) | ( i 17) | ||||||
| Sales of MSRs | i — | i — | ||||||
| Balance, as of March 31 | $ | i 433 | $ | i 367 | ||||
| Three Months Ended March 31, | ||||||||||||||
| In millions of dollars | 2021 | 2020 | ||||||||||||
Servicing fees | $ | i 31 | $ | i 39 | ||||||||||
Late
fees | i 1 | i 2 | ||||||||||||
Ancillary
fees | i — | i — | ||||||||||||
Total
MSR fees | $ | i 32 | $ | i 41 | ||||||||||
In
millions of dollars | Mar. 31, 2021 | Dec. 31, 2020 | ||||||
Carrying value of retained interests | $ | i 1,598 | $ | i 1,611 | ||||
| March 31, 2021 | ||||||||
In millions of dollars | Total unconsolidated VIE assets | Maximum exposure to unconsolidated VIEs | ||||||
Type | ||||||||
| Commercial and other real estate | $ | i 32,535 | $ | i 7,091 | ||||
Corporate
loans | i 15,535 | i 10,742 | ||||||
| Other (including investment funds, airlines and shipping) | i 166,460 | i 21,264 | ||||||
Total | $ | i 214,530 | $ | i 39,097 | ||||
| December 31, 2020 | ||||||||
In millions of dollars | Total unconsolidated VIE assets | Maximum exposure to unconsolidated VIEs | ||||||
Type | ||||||||
| Commercial and other real estate | $ | i 34,570 | $ | i 7,758 | ||||
Corporate
loans | i 12,022 | i 7,654 | ||||||
| Other (including investment funds, airlines and shipping) | i 167,613 | i 20,442 | ||||||
Total | $ | i 214,205 | $ | i 35,854 | ||||
| Hedging instruments under ASC 815 | Trading derivative instruments | |||||||||||||||||||
| In millions of dollars | March 31, 2021 | December 31, 2020 | March
31, 2021 | December 31, 2020 | ||||||||||||||||
| Interest rate contracts | ||||||||||||||||||||
| Swaps | $ | i 292,103 | $ | i 334,351 | $ | i 20,393,789 | $ | i 17,724,147 | ||||||||||||
| Futures and forwards | i — | i — | i 5,605,982 | i 4,142,514 | ||||||||||||||||
| Written options | i — | i — | i 1,596,927 | i 1,573,483 | ||||||||||||||||
| Purchased options | i — | i — | i 1,519,811 | i 1,418,255 | ||||||||||||||||
| Total interest rate contracts | $ | i 292,103 | $ | i 334,351 | $ | i 29,116,509 | $ | i 24,858,399 | ||||||||||||
| Foreign exchange contracts | ||||||||||||||||||||
| Swaps | $ | i 60,364 | $ | i 65,709 | $ | i 6,569,793 | $ | i 6,567,304 | ||||||||||||
| Futures, forwards and spot | i 34,459 | i 37,080 | i 4,632,191 | i 3,945,391 | ||||||||||||||||
| Written options | i 83 | i 47 | i 890,831 | i 907,338 | ||||||||||||||||
| Purchased options | i 92 | i 53 | i 854,323 | i 900,626 | ||||||||||||||||
| Total foreign exchange contracts | $ | i 94,998 | $ | i 102,889 | $ | i 12,947,138 | $ | i 12,320,659 | ||||||||||||
| Equity contracts | ||||||||||||||||||||
| Swaps | $ | i — | $ | i — | $ | i 273,550 | $ | i 274,098 | ||||||||||||
| Futures and forwards | i — | i — | i 87,217 | i 67,025 | ||||||||||||||||
| Written options | i — | i — | i 474,770 | i 441,003 | ||||||||||||||||
| Purchased options | i — | i — | i 381,966 | i 328,202 | ||||||||||||||||
| Total equity contracts | $ | i — | $ | i — | $ | i 1,217,503 | $ | i 1,110,328 | ||||||||||||
| Commodity and other contracts | ||||||||||||||||||||
| Swaps | $ | i — | $ | i — | $ | i 86,953 | $ | i 80,127 | ||||||||||||
| Futures and forwards | i 1,340 | i 924 | i 155,094 | i 143,175 | ||||||||||||||||
| Written options | i — | i — | i 75,989 | i 71,376 | ||||||||||||||||
| Purchased options | i — | i — | i 73,052 | i 67,849 | ||||||||||||||||
| Total commodity and other contracts | $ | i 1,340 | $ | i 924 | $ | i 391,088 | $ | i 362,527 | ||||||||||||
Credit
derivatives(1) | ||||||||||||||||||||
| Protection sold | $ | i — | $ | i — | $ | i 609,231 | $ | i 543,607 | ||||||||||||
| Protection purchased | i — | i — | i 683,503 | i 612,770 | ||||||||||||||||
| Total credit derivatives | $ | i — | $ | i — | $ | i 1,292,734 | $ | i 1,156,377 | ||||||||||||
| Total derivative notionals | $ | i 388,441 | $ | i 438,164 | $ | i 44,964,972 | $ | i 39,808,290 | ||||||||||||
| In millions of dollars at March 31, 2021 | Derivatives classified in Trading account assets/liabilities(1)(2) | |||||||
| Derivatives instruments designated as ASC 815 hedges | Assets | Liabilities | ||||||
| Over-the-counter | $ | i 1,326 | $ | i 44 | ||||
| Cleared | i 5 | i 138 | ||||||
| Interest rate contracts | $ | i 1,331 | $ | i 182 | ||||
| Over-the-counter | $ | i 1,310 | $ | i 1,689 | ||||
| Foreign exchange contracts | $ | i 1,310 | $ | i 1,689 | ||||
| Total derivatives instruments designated as ASC 815 hedges | $ | i 2,641 | $ | i 1,871 | ||||
| Derivatives instruments not designated as ASC 815 hedges | ||||||||
| Over-the-counter | $ | i 177,557 | $ | i 160,611 | ||||
| Cleared | i 12,030 | i 14,425 | ||||||
| Exchange traded | i 65 | i 72 | ||||||
| Interest rate contracts | $ | i 189,652 | $ | i 175,108 | ||||
| Over-the-counter | $ | i 137,979 | $ | i 135,353 | ||||
| Cleared | i 889 | i 746 | ||||||
| Foreign exchange contracts | $ | i 138,868 | $ | i 136,099 | ||||
| Over-the-counter | $ | i 25,396 | $ | i 36,140 | ||||
| Cleared | i 30 | i 15 | ||||||
| Exchange traded | i 18,883 | i 20,016 | ||||||
| Equity contracts | $ | i 44,309 | $ | i 56,171 | ||||
| Over-the-counter | $ | i 15,279 | $ | i 17,285 | ||||
| Exchange traded | i 1,139 | i 1,394 | ||||||
| Commodity and other contracts | $ | i 16,418 | $ | i 18,679 | ||||
| Over-the-counter | $ | i 8,199 | $ | i 7,723 | ||||
| Cleared | i 2,427 | i 2,841 | ||||||
| Credit derivatives | $ | i 10,626 | $ | i 10,564 | ||||
| Total derivatives instruments not designated as ASC 815 hedges | $ | i 399,873 | $ | i 396,621 | ||||
| Total derivatives | $ | i 402,514 | $ | i 398,492 | ||||
Cash
collateral paid/received(3) | $ | i 21,388 | $ | i 22,945 | ||||
Less:
Netting agreements(4) | ( i 307,824) | ( i 307,824) | ||||||
Less:
Netting cash collateral received/paid(5) | ( i 48,248) | ( i 53,215) | ||||||
Net
receivables/payables included on the Consolidated Balance Sheet(6) | $ | i 67,830 | $ | i 60,398 | ||||
| Additional amounts subject to an enforceable master netting agreement, but not offset on the Consolidated Balance Sheet | ||||||||
| Less: Cash collateral received/paid | $ | ( i 871) | $ | ( i 1,587) | ||||
| Less: Non-cash collateral received/paid | ( i 6,466) | ( i 13,911) | ||||||
Total
net receivables/payables(6) | $ | i 60,493 | $ | i 44,900 | ||||
| In millions of dollars at December 31, 2020 | Derivatives classified in Trading account assets/liabilities(1)(2) | |||||||
| Derivatives instruments designated as ASC 815 hedges | Assets | Liabilities | ||||||
| Over-the-counter | $ | i 1,781 | $ | i 161 | ||||
| Cleared | i 74 | i 319 | ||||||
| Interest rate contracts | $ | i 1,855 | $ | i 480 | ||||
| Over-the-counter | $ | i 2,037 | $ | i 2,042 | ||||
| Foreign exchange contracts | $ | i 2,037 | $ | i 2,042 | ||||
| Total derivatives instruments designated as ASC 815 hedges | $ | i 3,892 | $ | i 2,522 | ||||
| Derivatives instruments not designated as ASC 815 hedges | ||||||||
| Over-the-counter | $ | i 228,519 | $ | i 209,330 | ||||
| Cleared | i 11,041 | i 12,563 | ||||||
| Exchange traded | i 46 | i 38 | ||||||
| Interest rate contracts | $ | i 239,606 | $ | i 221,931 | ||||
| Over-the-counter | $ | i 153,791 | $ | i 152,784 | ||||
| Cleared | i 842 | i 1,239 | ||||||
| Exchange traded | i — | i 1 | ||||||
| Foreign exchange contracts | $ | i 154,633 | $ | i 154,024 | ||||
| Over-the-counter | $ | i 29,244 | $ | i 41,036 | ||||
| Cleared | i 1 | i 18 | ||||||
| Exchange traded | i 21,274 | i 22,515 | ||||||
| Equity contracts | $ | i 50,519 | $ | i 63,569 | ||||
| Over-the-counter | $ | i 13,659 | $ | i 17,076 | ||||
| Exchange traded | i 879 | i 1,017 | ||||||
| Commodity and other contracts | $ | i 14,538 | $ | i 18,093 | ||||
| Over-the-counter | $ | i 7,826 | $ | i 7,951 | ||||
| Cleared | i 1,963 | i 2,178 | ||||||
| Credit derivatives | $ | i 9,789 | $ | i 10,129 | ||||
| Total derivatives instruments not designated as ASC 815 hedges | $ | i 469,085 | $ | i 467,746 | ||||
| Total derivatives | $ | i 472,977 | $ | i 470,268 | ||||
Cash
collateral paid/received(3) | $ | i 32,778 | $ | i 8,196 | ||||
Less:
Netting agreements(4) | ( i 364,879) | ( i 364,879) | ||||||
Less:
Netting cash collateral received/paid(5) | ( i 63,915) | ( i 45,628) | ||||||
Net
receivables/payables included on the Consolidated Balance Sheet(6) | $ | i 76,961 | $ | i 67,957 | ||||
| Additional amounts subject to an enforceable master netting agreement, but not offset on the Consolidated Balance Sheet | ||||||||
| Less: Cash collateral received/paid | $ | ( i 1,567) | $ | ( i 473) | ||||
| Less: Non-cash collateral received/paid | ( i 7,408) | ( i 13,087) | ||||||
Total
net receivables/payables(6) | $ | i 67,986 | $ | i 54,397 | ||||
| Gains (losses) included in Other revenue | ||||||||||||||
| Three Months Ended March 31, | ||||||||||||||
| In millions of dollars | 2021 | 2020 | ||||||||||||
| Interest rate contracts | $ | ( i 60) | $ | i 155 | ||||||||||
| Foreign exchange | ( i 21) | i 24 | ||||||||||||
| Total | $ | ( i 81) | $ | i 179 | ||||||||||
Gains (losses) on fair value hedges(1) | ||||||||||||||||||||||||||
| Three Months Ended March 31, | ||||||||||||||||||||||||||
| 2021 | 2020 | |||||||||||||||||||||||||
| In millions of dollars | 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 | $ | i — | $ | ( i 3,935) | $ | i — | $ | i 6,847 | ||||||||||||||||||
| Foreign exchange hedges | ( i 210) | i — | ( i 1,911) | i — | ||||||||||||||||||||||
| Commodity hedges | ( i 289) | i — | i 290 | i — | ||||||||||||||||||||||
| Total gain (loss) on the hedging derivatives included in assessment of the effectiveness of fair value hedges | $ | ( i 499) | $ | ( i 3,935) | $ | ( i 1,621) | $ | i 6,847 | ||||||||||||||||||
| Gain (loss) on the hedged item in designated and qualifying fair value hedges | ||||||||||||||||||||||||||
| Interest rate hedges | $ | i — | $ | i 3,826 | $ | i — | $ | ( i 6,815) | ||||||||||||||||||
| Foreign exchange hedges | i 210 | i — | i 1,911 | i — | ||||||||||||||||||||||
| Commodity hedges | i 289 | i — | ( i 290) | i — | ||||||||||||||||||||||
| Total gain (loss) on the hedged item in designated and qualifying fair value hedges | $ | i 499 | $ | i 3,826 | $ | i 1,621 | $ | ( i 6,815) | ||||||||||||||||||
| Net
gain (loss) on the hedging derivatives excluded from assessment of the effectiveness of fair value hedges | ||||||||||||||||||||||||||
| Interest rate hedges | $ | i — | $ | ( i 4) | $ | i — | $ | ( i 5) | ||||||||||||||||||
Foreign
exchange hedges(2) | i 4 | i — | ( i 58) | i — | ||||||||||||||||||||||
| Commodity hedges | ( i 22) | i — | ( i 25) | i — | ||||||||||||||||||||||
| Total net gain (loss) on the hedging derivatives excluded from assessment of the effectiveness of fair value hedges | $ | ( i 18) | $ | ( i 4) | $ | ( i 83) | $ | ( i 5) | ||||||||||||||||||
| In millions of dollars | |||||||||||
| 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 | ||||||||||
| As of March 31, 2021 | |||||||||||
Debt securities AFS(1)(3) | $ | i 79,663 | $ | ( i 127) | $ | i 61 | |||||
| Long-term debt | i 157,408 | i 1,665 | i 4,400 | ||||||||
| As of December 31, 2020 | |||||||||||
Debt securities AFS(2)(3) | $ | i 81,082 | $ | i 28 | $ | i 342 | |||||
| Long-term debt | i 169,026 | i 5,554 | i 4,989 | ||||||||
| Three Months Ended March 31, | ||||||||||||||||||||||||||
| In millions of dollars | 2021 | 2020 | ||||||||||||||||||||||||
Amount of gain (loss) recognized in AOCI on derivatives | ||||||||||||||||||||||||||
| Interest rate contracts | $ | ( i 455) | $ | i 2,497 | ||||||||||||||||||||||
| Foreign exchange contracts | i 3 | ( i 11) | ||||||||||||||||||||||||
Total
gain (loss) recognized in AOCI | $ | ( i 452) | $ | i 2,486 | ||||||||||||||||||||||
| Other
revenue | Net interest revenue | Other revenue | Net interest revenue | |||||||||||||||||||||||
Amount of gain (loss) reclassified from AOCI to earnings(1) | ||||||||||||||||||||||||||
| Interest rate contracts | $ | i — | $ | i 278 | $ | i — | $ | i 3 | ||||||||||||||||||
| Foreign exchange contracts | ( i 1) | i — | ( i 1) | i — | ||||||||||||||||||||||
Total
gain (loss) reclassified from AOCI into earnings | $ | ( i 1) | $ | i 278 | $ | ( i 1) | $ | i 3 | ||||||||||||||||||
Net
pretax change in cash flow hedges included within AOCI | $ | ( i 729) | $ | i 2,484 | ||||||||||||||||||||||
| Fair values | Notionals | |||||||||||||
| In millions of dollars at March 31, 2021 | Receivable(1) | Payable(2) | Protection purchased | Protection sold | ||||||||||
| By industry of counterparty | ||||||||||||||
| Banks | $ | i 2,886 | $ | i 3,402 | $ | i 126,799 | $ | i 123,430 | ||||||
| Broker-dealers | i 1,913 | i 1,269 | i 48,722 | i 46,866 | ||||||||||
| Non-financial | i 107 | i 95 | i 6,658 | i 2,789 | ||||||||||
| Insurance
and other financial institutions | i 5,720 | i 5,798 | i 501,324 | i 436,146 | ||||||||||
| Total by industry of counterparty | $ | i 10,626 | $ | i 10,564 | $ | i 683,503 | $ | i 609,231 | ||||||
| By instrument | ||||||||||||||
| Credit default swaps and options | $ | i 9,647 | $ | i 10,020 | $ | i 667,075 | $ | i 602,994 | ||||||
| Total return swaps and other | i 979 | i 544 | i 16,428 | i 6,237 | ||||||||||
| Total by instrument | $ | i 10,626 | $ | i 10,564 | $ | i 683,503 | $ | i 609,231 | ||||||
| By rating of reference entity | ||||||||||||||
| Investment grade | $ | i 4,424 | $ | i 4,083 | $ | i 514,482 | $ | i 455,166 | ||||||
| Non-investment grade | i 6,202 | i 6,481 | i 169,021 | i 154,065 | ||||||||||
| Total by rating of reference entity | $ | i 10,626 | $ | i 10,564 | $ | i 683,503 | $ | i 609,231 | ||||||
| By maturity | ||||||||||||||
| Within 1 year | $ | i 1,186 | $ | i 1,237 | $ | i 148,225 | $ | i 133,828 | ||||||
| From 1 to 5 years | i 6,413 | i 6,419 | i 439,990 | i 396,443 | ||||||||||
| After 5 years | i 3,027 | i 2,908 | i 95,288 | i 78,960 | ||||||||||
| Total by maturity | $ | i 10,626 | $ | i 10,564 | $ | i 683,503 | $ | i 609,231 | ||||||
| Fair values | Notionals | |||||||||||||
| In millions of dollars at December 31, 2020 | Receivable(1) | Payable(2) | Protection purchased | Protection sold | ||||||||||
| By industry of counterparty | ||||||||||||||
| Banks | $ | i 2,902 | $ | i 3,187 | $ | i 117,685 | $ | i 120,739 | ||||||
| Broker-dealers | i 1,770 | i 1,215 | i 46,928 | i 44,692 | ||||||||||
| Non-financial | i 109 | i 90 | i 5,740 | i 2,217 | ||||||||||
| Insurance
and other financial institutions | i 5,008 | i 5,637 | i 442,417 | i 375,959 | ||||||||||
| Total by industry of counterparty | $ | i 9,789 | $ | i 10,129 | $ | i 612,770 | $ | i 543,607 | ||||||
| By instrument | ||||||||||||||
| Credit default swaps and options | $ | i 9,254 | $ | i 9,254 | $ | i 599,633 | $ | i 538,426 | ||||||
| Total return swaps and other | i 535 | i 875 | i 13,137 | i 5,181 | ||||||||||
| Total by instrument | $ | i 9,789 | $ | i 10,129 | $ | i 612,770 | $ | i 543,607 | ||||||
| By rating of reference entity | ||||||||||||||
| Investment grade | $ | i 4,136 | $ | i 4,037 | $ | i 478,643 | $ | i 418,147 | ||||||
| Non-investment grade | i 5,653 | i 6,092 | i 134,127 | i 125,460 | ||||||||||
| Total by rating of reference entity | $ | i 9,789 | $ | i 10,129 | $ | i 612,770 | $ | i 543,607 | ||||||
| By maturity | ||||||||||||||
| Within 1 year | $ | i 914 | $ | i 1,355 | $ | i 134,080 | $ | i 125,464 | ||||||
| From 1 to 5 years | i 6,022 | i 5,991 | i 421,682 | i 374,376 | ||||||||||
| After 5 years | i 2,853 | i 2,783 | i 57,008 | i 43,767 | ||||||||||
| Total by maturity | $ | i 9,789 | $ | i 10,129 | $ | i 612,770 | $ | i 543,607 | ||||||
| Credit and funding valuation adjustments contra-liability (contra-asset) | ||||||||
| In millions of dollars | March 31, 2021 | December 31, 2020 | ||||||
| Counterparty CVA | $ | ( i 642) | $ | ( i 800) | ||||
| Asset FVA | ( i 449) | ( i 525) | ||||||
| Citigroup (own credit) CVA | i 376 | i 403 | ||||||
| Liability FVA | i 91 | i 67 | ||||||
| Total CVA—derivative instruments | $ | ( i 624) | $ | ( i 855) | ||||
| Credit/funding/debt
valuation adjustments gain (loss) | ||||||||||||||
| Three Months Ended March 31, | ||||||||||||||
| In millions of dollars | 2021 | 2020 | ||||||||||||
| Counterparty CVA | $ | i 9 | $ | ( i 283) | ||||||||||
| Asset FVA | i 69 | ( i 1,053) | ||||||||||||
| Own credit CVA | ( i 37) | i 533 | ||||||||||||
| Liability FVA | i 24 | i 337 | ||||||||||||
| Total CVA—derivative instruments | $ | i 65 | $ | ( i 466) | ||||||||||
DVA
related to own FVO liabilities(1) | $ | ( i 38) | $ | i 4,188 | ||||||||||
| Total CVA and DVA | $ | i 27 | $ | i 3,722 | ||||||||||
| In millions of dollars at March 31, 2021 | Level 1 | Level 2 | Level 3 | Gross inventory | Netting(1) | Net balance | ||||||||||||||
| Assets | ||||||||||||||||||||
| Securities borrowed and purchased under agreements to resell | $ | i — | $ | i 308,726 | $ | i 262 | $ | i 308,988 | $ | ( i 110,080) | $ | i 198,908 | ||||||||
| Trading non-derivative assets | ||||||||||||||||||||
| Trading mortgage-backed securities | ||||||||||||||||||||
| U.S. government-sponsored agency guaranteed | i — | i 35,846 | i 38 | i 35,884 | i 35,884 | |||||||||||||||
| Residential | i — | i 317 | i 268 | i 585 | i 585 | |||||||||||||||
| Commercial | i — | i 813 | i 59 | i 872 | i 872 | |||||||||||||||
| Total trading mortgage-backed securities | $ | i — | $ | i 36,976 | $ | i 365 | $ | i 37,341 | $ | — | $ | i 37,341 | ||||||||
| U.S. Treasury and federal agency securities | $ | i 59,877 | $ | i 2,325 | $ | i — | $ | i 62,202 | $ | i 62,202 | ||||||||||
| State and municipal | i — | i 1,171 | i 94 | i 1,265 | i 1,265 | |||||||||||||||
| Foreign government | i 76,118 | i 16,226 | i 81 | i 92,425 | i 92,425 | |||||||||||||||
| Corporate | i 1,256 | i 19,209 | i 290 | i 20,755 | i 20,755 | |||||||||||||||
| Equity securities | i 53,461 | i 11,296 | i 89 | i 64,846 | i 64,846 | |||||||||||||||
| Asset-backed securities | i — | i 951 | i 1,208 | i 2,159 | i 2,159 | |||||||||||||||
Other
trading assets(2) | i 12 | i 11,253 | i 571 | i 11,836 | i 11,836 | |||||||||||||||
| Total trading non-derivative assets | $ | i 190,724 | $ | i 99,407 | $ | i 2,698 | $ | i 292,829 | $ | — | $ | i 292,829 | ||||||||
| Trading derivatives | ||||||||||||||||||||
| Interest rate contracts | $ | i 95 | $ | i 187,808 | $ | i 3,080 | $ | i 190,983 | ||||||||||||
| Foreign exchange contracts | i — | i 139,621 | i 557 | i 140,178 | ||||||||||||||||
| Equity contracts | i 141 | i 42,287 | i 1,881 | i 44,309 | ||||||||||||||||
| Commodity contracts | i — | i 14,704 | i 1,714 | i 16,418 | ||||||||||||||||
| Credit derivatives | i — | i 9,459 | i 1,167 | i 10,626 | ||||||||||||||||
| Total trading derivatives | $ | i 236 | $ | i 393,879 | $ | i 8,399 | $ | i 402,514 | ||||||||||||
Cash
collateral paid(3) | $ | i 21,388 | ||||||||||||||||||
| Netting agreements | $ | ( i 307,824) | ||||||||||||||||||
| Netting of cash collateral received | ( i 48,248) | |||||||||||||||||||
| Total trading derivatives | $ | i 236 | $ | i 393,879 | $ | i 8,399 | $ | i 423,902 | $ | ( i 356,072) | $ | i 67,830 | ||||||||
| Investments | ||||||||||||||||||||
| Mortgage-backed securities | ||||||||||||||||||||
| U.S. government-sponsored agency guaranteed | $ | i — | $ | i 42,673 | $ | i 30 | $ | i 42,703 | $ | i 42,703 | ||||||||||
| Residential | i — | i 437 | i — | i 437 | i 437 | |||||||||||||||
| Commercial | i — | i 45 | i — | i 45 | i 45 | |||||||||||||||
| Total investment mortgage-backed securities | $ | i — | $ | i 43,155 | $ | i 30 | $ | i 43,185 | $ | — | $ | i 43,185 | ||||||||
| U.S. Treasury and federal agency securities | $ | i 122,532 | $ | i 168 | $ | i — | $ | i 122,700 | $ | i 122,700 | ||||||||||
| State and municipal | i — | i 2,457 | i 794 | i 3,251 | i 3,251 | |||||||||||||||
| Foreign government | i 73,560 | i 45,531 | i 523 | i 119,614 | i 119,614 | |||||||||||||||
| Corporate | i 6,212 | i 3,980 | i 56 | i 10,248 | i 10,248 | |||||||||||||||
| Marketable equity securities | i 184 | i 65 | i — | i 249 | i 249 | |||||||||||||||
| Asset-backed securities | i — | i 270 | i 4 | i 274 | i 274 | |||||||||||||||
| Other debt securities | i — | i 4,764 | i — | i 4,764 | i 4,764 | |||||||||||||||
Non-marketable
equity securities(4) | i — | i 44 | i 352 | i 396 | i 396 | |||||||||||||||
| Total investments | $ | i 202,488 | $ | i 100,434 | $ | i 1,759 | $ | i 304,681 | $ | — | $ | i 304,681 | ||||||||
| In millions of dollars at March 31, 2021 | Level 1 | Level 2 | Level 3 | Gross inventory | Netting(1) | Net balance | ||||||||||||||
| Loans | $ | i — | $ | i 5,581 | $ | i 1,944 | $ | i 7,525 | $ | i 7,525 | ||||||||||
| Mortgage servicing rights | i — | i — | i 433 | i 433 | i 433 | |||||||||||||||
| Non-trading derivatives and other financial assets measured on a recurring basis | $ | i 2,311 | $ | i 7,864 | $ | i — | $ | i 10,175 | $ | i — | $ | i 10,175 | ||||||||
| Total assets | $ | i 395,759 | $ | i 915,891 | $ | i 15,495 | $ | i 1,348,533 | $ | ( i 466,152) | $ | i 882,381 | ||||||||
Total
as a percentage of gross assets(5) | i 29.8% | i 69.0% | i 1.2% | |||||||||||||||||
| Liabilities | ||||||||||||||||||||
| Interest-bearing deposits | $ | i — | $ | i 2,941 | $ | i 199 | $ | i 3,140 | $ | i 3,140 | ||||||||||
| Securities loaned and sold under agreements to repurchase | i — | i 161,693 | i 977 | i 162,670 | ( i 93,957) | i 68,713 | ||||||||||||||
| Trading account liabilities | ||||||||||||||||||||
| Securities sold, not yet purchased | i 104,802 | i 13,730 | i 167 | i 118,699 | i 118,699 | |||||||||||||||
| Other trading liabilities | i — | i 14 | i 6 | i 20 | i 20 | |||||||||||||||
| Total trading liabilities | $ | i 104,802 | $ | i 13,744 | $ | i 173 | $ | i 118,719 | $ | — | $ | i 118,719 | ||||||||
| Trading derivatives | ||||||||||||||||||||
| Interest rate contracts | $ | i 77 | $ | i 173,362 | $ | i 1,851 | $ | i 175,290 | ||||||||||||
| Foreign exchange contracts | i 1 | i 137,144 | i 643 | i 137,788 | ||||||||||||||||
| Equity contracts | i 56 | i 51,358 | i 4,757 | i 56,171 | ||||||||||||||||
| Commodity contracts | i — | i 17,697 | i 982 | i 18,679 | ||||||||||||||||
| Credit derivatives | i — | i 9,468 | i 1,096 | i 10,564 | ||||||||||||||||
| Total trading derivatives | $ | i 134 | $ | i 389,029 | $ | i 9,329 | $ | i 398,492 | ||||||||||||
Cash
collateral received(6) | $ | i 22,945 | ||||||||||||||||||
| Netting agreements | $ | ( i 307,824) | ||||||||||||||||||
| Netting of cash collateral paid | ( i 53,215) | |||||||||||||||||||
| Total trading derivatives | $ | i 134 | $ | i 389,029 | $ | i 9,329 | $ | i 421,437 | $ | ( i 361,039) | $ | i 60,398 | ||||||||
| Short-term borrowings | $ | i — | $ | i 7,357 | $ | i 49 | $ | i 7,406 | $ | i 7,406 | ||||||||||
| Long-term debt | i — | i 41,734 | i 26,337 | i 68,071 | i 68,071 | |||||||||||||||
| Total non-trading derivatives and other financial liabilities measured on a recurring basis | $ | i 2,619 | $ | i 48 | $ | i 8 | $ | i 2,675 | i | $ | i 2,675 | |||||||||
| Total liabilities | $ | i 107,555 | $ | i 616,546 | $ | i 37,072 | $ | i 784,118 | $ | ( i 454,996) | $ | i 329,122 | ||||||||
Total
as a percentage of gross liabilities(5) | i 14.1 | % | i 81.0 | % | i 4.9 | % | ||||||||||||||
| In millions of dollars at December 31, 2020 | Level 1 | Level 2 | Level 3 | Gross inventory | Netting(1) | Net balance | ||||||||||||||
| Assets | ||||||||||||||||||||
| Securities borrowed and purchased under agreements to resell | $ | i — | $ | i 335,073 | $ | i 320 | $ | i 335,393 | $ | ( i 150,189) | $ | i 185,204 | ||||||||
| Trading non-derivative assets | ||||||||||||||||||||
| Trading mortgage-backed securities | ||||||||||||||||||||
| U.S. government-sponsored agency guaranteed | i — | i 42,903 | i 27 | i 42,930 | — | i 42,930 | ||||||||||||||
| Residential | i — | i 391 | i 340 | i 731 | — | i 731 | ||||||||||||||
| Commercial | i — | i 893 | i 136 | i 1,029 | — | i 1,029 | ||||||||||||||
| Total trading mortgage-backed securities | $ | i — | $ | i 44,187 | $ | i 503 | $ | i 44,690 | $ | — | $ | i 44,690 | ||||||||
| U.S. Treasury and federal agency securities | $ | i 64,529 | $ | i 2,269 | $ | i — | $ | i 66,798 | $ | — | $ | i 66,798 | ||||||||
| State and municipal | i — | i 1,224 | i 94 | i 1,318 | — | i 1,318 | ||||||||||||||
| Foreign government | i 68,195 | i 15,143 | i 51 | i 83,389 | — | i 83,389 | ||||||||||||||
| Corporate | i 1,607 | i 18,840 | i 375 | i 20,822 | — | i 20,822 | ||||||||||||||
| Equity securities | i 54,117 | i 12,289 | i 73 | i 66,479 | — | i 66,479 | ||||||||||||||
| Asset-backed securities | i — | i 776 | i 1,606 | i 2,382 | — | i 2,382 | ||||||||||||||
Other
trading assets(2) | i — | i 11,295 | i 945 | i 12,240 | — | i 12,240 | ||||||||||||||
| Total trading non-derivative assets | $ | i 188,448 | $ | i 106,023 | $ | i 3,647 | $ | i 298,118 | $ | — | $ | i 298,118 | ||||||||
| Trading derivatives | ||||||||||||||||||||
| Interest rate contracts | $ | i 42 | $ | i 238,026 | $ | i 3,393 | $ | i 241,461 | ||||||||||||
| Foreign exchange contracts | i 2 | i 155,994 | i 674 | i 156,670 | ||||||||||||||||
| Equity contracts | i 66 | i 48,362 | i 2,091 | i 50,519 | ||||||||||||||||
| Commodity contracts | i — | i 13,546 | i 992 | i 14,538 | ||||||||||||||||
| Credit derivatives | i — | i 8,634 | i 1,155 | i 9,789 | ||||||||||||||||
| Total trading derivatives | $ | i 110 | $ | i 464,562 | $ | i 8,305 | $ | i 472,977 | ||||||||||||
Cash
collateral paid(3) | $ | i 32,778 | ||||||||||||||||||
| Netting agreements | $ | ( i 364,879) | ||||||||||||||||||
| Netting of cash collateral received | ( i 63,915) | |||||||||||||||||||
| Total trading derivatives | $ | i 110 | $ | i 464,562 | $ | i 8,305 | $ | i 505,755 | $ | ( i 428,794) | $ | i 76,961 | ||||||||
| Investments | ||||||||||||||||||||
| Mortgage-backed securities | ||||||||||||||||||||
| U.S. government-sponsored agency guaranteed | $ | i — | $ | i 43,888 | $ | i 30 | $ | i 43,918 | $ | — | $ | i 43,918 | ||||||||
| Residential | i — | i 571 | i — | i 571 | — | i 571 | ||||||||||||||
| Commercial | i — | i 50 | i — | i 50 | — | i 50 | ||||||||||||||
| Total investment mortgage-backed securities | $ | i — | $ | i 44,509 | $ | i 30 | $ | i 44,539 | $ | — | $ | i 44,539 | ||||||||
| U.S. Treasury and federal agency securities | $ | i 146,032 | $ | i 172 | $ | i — | $ | i 146,204 | $ | — | $ | i 146,204 | ||||||||
| State and municipal | i — | i 2,885 | i 834 | i 3,719 | — | i 3,719 | ||||||||||||||
| Foreign government | i 77,056 | i 47,644 | i 268 | i 124,968 | — | i 124,968 | ||||||||||||||
| Corporate | i 6,326 | i 4,114 | i 60 | i 10,500 | — | i 10,500 | ||||||||||||||
| Marketable equity securities | i 287 | i 228 | i — | i 515 | — | i 515 | ||||||||||||||
| Asset-backed securities | i — | i 277 | i 1 | i 278 | — | i 278 | ||||||||||||||
| Other debt securities | i — | i 4,876 | i — | i 4,876 | — | i 4,876 | ||||||||||||||
Non-marketable
equity securities(4) | i — | i 50 | i 349 | i 399 | — | i 399 | ||||||||||||||
| Total investments | $ | i 229,701 | $ | i 104,755 | $ | i 1,542 | $ | i 335,998 | $ | — | $ | i 335,998 | ||||||||
| In millions of dollars at December 31, 2020 | Level 1 | Level 2 | Level 3 | Gross inventory | Netting(2) | Net balance | ||||||||||||||
| Loans | $ | i — | $ | i 4,869 | $ | i 1,985 | $ | i 6,854 | $ | — | $ | i 6,854 | ||||||||
| Mortgage servicing rights | i — | i — | i 336 | i 336 | — | i 336 | ||||||||||||||
| Non-trading derivatives and other financial assets measured on a recurring basis | $ | i 6,230 | $ | i 8,383 | $ | i — | $ | i 14,613 | $ | i — | $ | i 14,613 | ||||||||
| Total assets | $ | i 424,489 | $ | i 1,023,665 | $ | i 16,135 | $ | i 1,497,067 | $ | ( i 578,983) | $ | i 918,084 | ||||||||
Total
as a percentage of gross assets(5) | i 29.0% | i 69.9% | i 1.1% | |||||||||||||||||
| Liabilities | ||||||||||||||||||||
| Interest-bearing deposits | $ | i — | $ | i 1,752 | $ | i 206 | $ | i 1,958 | $ | — | $ | i 1,958 | ||||||||
| Securities loaned and sold under agreements to repurchase | i — | i 156,644 | i 631 | i 157,275 | ( i 97,069) | i 60,206 | ||||||||||||||
| Trading account liabilities | ||||||||||||||||||||
| Securities sold, not yet purchased | i 85,353 | i 14,477 | i 214 | i 100,044 | — | i 100,044 | ||||||||||||||
| Other trading liabilities | i — | i — | i 26 | i 26 | — | i 26 | ||||||||||||||
| Total trading liabilities | $ | i 85,353 | $ | i 14,477 | $ | i 240 | $ | i 100,070 | $ | — | $ | i 100,070 | ||||||||
| Trading account derivatives | ||||||||||||||||||||
| Interest rate contracts | $ | i 25 | $ | i 220,607 | $ | i 1,779 | $ | i 222,411 | ||||||||||||
| Foreign exchange contracts | i 3 | i 155,441 | i 622 | i 156,066 | ||||||||||||||||
| Equity contracts | i 53 | i 58,212 | i 5,304 | i 63,569 | ||||||||||||||||
| Commodity contracts | i — | i 17,393 | i 700 | i 18,093 | ||||||||||||||||
| Credit derivatives | i — | i 9,022 | i 1,107 | i 10,129 | ||||||||||||||||
| Total trading derivatives | $ | i 81 | $ | i 460,675 | $ | i 9,512 | $ | i 470,268 | ||||||||||||
Cash
collateral received(6) | $ | i 8,196 | ||||||||||||||||||
| Netting agreements | $ | ( i 364,879) | ||||||||||||||||||
| Netting of cash collateral paid | ( i 45,628) | |||||||||||||||||||
| Total trading derivatives | $ | i 81 | $ | i 460,675 | $ | i 9,512 | $ | i 478,464 | $ | ( i 410,507) | $ | i 67,957 | ||||||||
| Short-term borrowings | $ | i — | $ | i 4,464 | $ | i 219 | $ | i 4,683 | $ | — | $ | i 4,683 | ||||||||
| Long-term debt | i — | i 41,853 | i 25,210 | i 67,063 | — | i 67,063 | ||||||||||||||
| Non-trading derivatives and other financial liabilities measured on a recurring basis | $ | i 6,762 | $ | i 72 | $ | i 1 | $ | i 6,835 | $ | i — | $ | i 6,835 | ||||||||
| Total liabilities | $ | i 92,196 | $ | i 679,937 | $ | i 36,019 | $ | i 816,348 | $ | ( i 507,576) | $ | i 308,772 | ||||||||
Total
as a percentage of gross liabilities(5) | i 11.4 | % | i 84.1 | % | i 4.5 | % | ||||||||||||||
Net
realized/unrealized gains (losses) incl. in(1) | Transfers | Unrealized gains (losses) still held(3) | |||||||||||||||||||||||||||||||||
| In millions of dollars | Dec. 31, 2020 | Principal transactions | Other(1)(2) | into Level 3 | out of Level 3 | Purchases | Issuances | Sales | Settlements | Mar. 31, 2021 | |||||||||||||||||||||||||
| Assets | |||||||||||||||||||||||||||||||||||
| Securities borrowed and purchased under agreements to resell | $ | i 320 | $ | ( i 9) | $ | i — | $ | i — | $ | i — | $ | i 233 | $ | i — | $ | i — | $ | ( i 282) | $ | i 262 | $ | i 3 | |||||||||||||
| Trading non-derivative assets | |||||||||||||||||||||||||||||||||||
| Trading mortgage-backed securities | |||||||||||||||||||||||||||||||||||
| U.S. government-sponsored agency guaranteed | i 27 | ( i 1) | i — | i 14 | ( i 1) | i 1 | i — | ( i 2) | i — | i 38 | ( i 1) | ||||||||||||||||||||||||
| Residential | i 340 | i 23 | i — | i 28 | ( i 3) | i 144 | i — | ( i 264) | i — | i 268 | i 7 | ||||||||||||||||||||||||
| Commercial | i 136 | i 5 | i — | i 16 | ( i 33) | i 13 | i — | ( i 78) | i — | i 59 | ( i 7) | ||||||||||||||||||||||||
| Total trading mortgage-backed securities | $ | i 503 | $ | i 27 | $ | i — | $ | i 58 | $ | ( i 37) | $ | i 158 | $ | i — | $ | ( i 344) | $ | i — | $ | i 365 | $ | ( i 1) | |||||||||||||
| U.S. Treasury and federal agency securities | $ | i — | $ | i — | $ | i — | $ | i — | $ | i — | $ | i — | $ | i — | $ | i — | $ | i — | $ | i — | $ | i — | |||||||||||||
| State and municipal | i 94 | i — | i — | i — | i — | i — | i — | i — | i — | i 94 | i 1 | ||||||||||||||||||||||||
| Foreign government | i 51 | i 1 | i — | i 11 | i — | i 57 | i — | ( i 39) | i — | i 81 | ( i 3) | ||||||||||||||||||||||||
| Corporate | i 375 | i 90 | i — | i 6 | ( i 118) | i 67 | i — | ( i 130) | i — | i 290 | i 41 | ||||||||||||||||||||||||
| Marketable equity securities | i 73 | i 45 | i — | i 4 | ( i 2) | i 12 | i — | ( i 43) | i — | i 89 | i 9 | ||||||||||||||||||||||||
| Asset-backed securities | i 1,606 | i 39 | i — | i 18 | ( i 50) | i 582 | i — | ( i 987) | i — | i 1,208 | ( i 79) | ||||||||||||||||||||||||
| Other trading assets | i 945 | ( i 44) | i — | i 30 | ( i 8) | i 147 | i 4 | ( i 499) | ( i 4) | i 571 | i 1 | ||||||||||||||||||||||||
| Total trading non-derivative assets | $ | i 3,647 | $ | i 158 | $ | i — | $ | i 127 | $ | ( i 215) | $ | i 1,023 | $ | i 4 | $ | ( i 2,042) | $ | ( i 4) | $ | i 2,698 | $ | ( i 31) | |||||||||||||
Trading
derivatives, net(4) | |||||||||||||||||||||||||||||||||||
| Interest rate contracts | $ | i 1,614 | $ | ( i 172) | $ | i — | $ | ( i 45) | $ | i — | $ | i — | $ | ( i 84) | $ | i — | $ | ( i 84) | $ | i 1,229 | $ | ( i 85) | |||||||||||||
| Foreign exchange contracts | i 52 | ( i 138) | i — | i 8 | i — | i 23 | i — | ( i 15) | ( i 16) | ( i 86) | ( i 31) | ||||||||||||||||||||||||
| Equity contracts | ( i 3,213) | i 303 | i — | i 36 | i 6 | i 24 | i — | ( i 23) | ( i 9) | ( i 2,876) | i 268 | ||||||||||||||||||||||||
| Commodity contracts | i 292 | i 314 | i — | i 158 | ( i 5) | i 66 | i — | ( i 110) | i 17 | i 732 | i 324 | ||||||||||||||||||||||||
| Credit derivatives | i 48 | ( i 64) | i — | i 67 | i 3 | i — | i — | i — | i 17 | i 71 | ( i 64) | ||||||||||||||||||||||||
Total
trading derivatives, net(4) | $ | ( i 1,207) | $ | i 243 | $ | i — | $ | i 224 | $ | i 4 | $ | i 113 | $ | ( i 84) | $ | ( i 148) | $ | ( i 75) | $ | ( i 930) | $ | i 412 | |||||||||||||
Net
realized/unrealized gains (losses) incl. in(1) | Transfers | Unrealized gains (losses) still held(3) | |||||||||||||||||||||||||||||||||
| In millions of dollars | Dec. 31, 2020 | Principal transactions | Other(1)(2) | into Level 3 | out of Level 3 | Purchases | Issuances | Sales | Settlements | Mar. 31, 2021 | |||||||||||||||||||||||||
| Investments | |||||||||||||||||||||||||||||||||||
| Mortgage-backed securities | |||||||||||||||||||||||||||||||||||
| U.S. government-sponsored agency guaranteed | $ | i 30 | $ | i — | $ | i — | $ | i — | $ | i — | $ | i — | $ | i — | $ | i — | $ | i — | $ | i 30 | $ | i — | |||||||||||||
| Residential | i — | i — | i — | i — | i — | i — | i — | i — | i — | i — | i — | ||||||||||||||||||||||||
| Commercial | i — | i — | i — | i — | i — | i — | i — | i — | i — | i — | i — | ||||||||||||||||||||||||
| Total investment mortgage-backed securities | $ | i 30 | $ | i — | $ | i — | $ | i — | $ | i — | $ | i — | $ | i — | $ | i — | $ | i — | $ | i 30 | $ | i — | |||||||||||||
| U.S. Treasury and federal agency securities | $ | i — | $ | i — | $ | i — | $ | i — | $ | i — | $ | i — | $ | i — | $ | i — | $ | i — | $ | i — | $ | i — | |||||||||||||
| State and municipal | i 834 | i — | ( i 18) | i 4 | i — | i 1 | i — | ( i 27) | i — | i 794 | ( i 16) | ||||||||||||||||||||||||
| Foreign government | i 268 | i — | ( i 2) | i — | i — | i 330 | i — | ( i 73) | i — | i 523 | ( i 11) | ||||||||||||||||||||||||
| Corporate | i 60 | i — | ( i 4) | i — | i — | i — | i — | i — | i — | i 56 | i — | ||||||||||||||||||||||||
| Marketable equity securities | i — | i — | i — | i — | i — | i — | i — | i — | i — | i — | i — | ||||||||||||||||||||||||
| Asset-backed securities | i 1 | i — | i — | i 3 | i — | i — | i — | i — | i — | i 4 | i — | ||||||||||||||||||||||||
| Other debt securities | i — | i — | i — | i — | i — | i — | i — | i — | i — | i — | i — | ||||||||||||||||||||||||
| Non-marketable equity securities | i 349 | i — | i 10 | i 1 | i — | i — | i — | ( i 8) | i — | i 352 | i 4 | ||||||||||||||||||||||||
| Total investments | $ | i 1,542 | $ | i — | $ | ( i 14) | $ | i 8 | $ | i — | $ | i 331 | $ | i — | $ | ( i 108) | $ | i — | $ | i 1,759 | $ | ( i 23) | |||||||||||||
| Loans | $ | i 1,985 | $ | i — | $ | ( i 128) | $ | i 211 | $ | i — | $ | i — | $ | i 1 | $ | i — | $ | ( i 125) | $ | i 1,944 | $ | ( i 125) | |||||||||||||
| Mortgage servicing rights | i 336 | i — | i 73 | i — | i — | i — | i 43 | i — | ( i 19) | i 433 | i 80 | ||||||||||||||||||||||||
| Other financial assets measured on a recurring basis | i — | i — | i — | i — | i — | i — | i — | i — | i — | i — | i — | ||||||||||||||||||||||||
| Liabilities | |||||||||||||||||||||||||||||||||||
| Interest-bearing deposits | $ | i 206 | $ | i — | $ | i 16 | $ | i — | $ | i — | $ | i — | $ | i 9 | $ | i — | $ | i — | $ | i 199 | $ | i 7 | |||||||||||||
| Securities loaned and sold under agreements to repurchase | i 631 | ( i 15) | i — | i — | i — | i 408 | i — | i — | ( i 77) | i 977 | ( i 15) | ||||||||||||||||||||||||
| Trading account liabilities | |||||||||||||||||||||||||||||||||||
| Securities sold, not yet purchased | i 214 | i 54 | i — | i 8 | ( i 4) | i 10 | i — | i — | ( i 7) | i 167 | i 39 | ||||||||||||||||||||||||
| Other trading liabilities | i 26 | i 20 | i — | i — | i — | i — | i — | i — | i — | i 6 | i 21 | ||||||||||||||||||||||||
| Short-term borrowings | i 219 | ( i 1) | i — | i 2 | ( i 12) | i — | i 8 | i — | ( i 169) | i 49 | ( i 1) | ||||||||||||||||||||||||
| Long-term debt | i 25,210 | i 2,622 | i — | i 932 | ( i 2) | i — | i 5,720 | i — | ( i 2,901) | i 26,337 | i 1,962 | ||||||||||||||||||||||||
| Other financial liabilities measured on a recurring basis | i 1 | i — | ( i 3) | i — | i — | i — | i 14 | i — | ( i 10) | i 8 | ( i 3) | ||||||||||||||||||||||||
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 | Mar. 31, 2020 | |||||||||||||||||||||||||
| Assets | |||||||||||||||||||||||||||||||||||
| Securities borrowed or purchased under agreements to resell | $ | i 303 | $ | ( i 20) | $ | i — | $ | i — | $ | i — | $ | i 66 | $ | i — | $ | i — | $ | ( i 49) | $ | i 300 | $ | i 3 | |||||||||||||
| Trading non-derivative assets | |||||||||||||||||||||||||||||||||||
| Trading mortgage-backed securities | |||||||||||||||||||||||||||||||||||
| U.S. government-sponsored agency guaranteed | i 10 | ( i 75) | i — | i 12 | ( i 3) | i 141 | i — | i — | i — | i 85 | i 4 | ||||||||||||||||||||||||
| Residential | i 123 | ( i 8) | i — | i 60 | ( i 4) | i 178 | i — | ( i 45) | i — | i 304 | ( i 11) | ||||||||||||||||||||||||
| Commercial | i 61 | i — | i — | i 3 | ( i 3) | i 27 | i — | ( i 44) | i — | i 44 | ( i 1) | ||||||||||||||||||||||||
| Total trading mortgage-backed securities | $ | i 194 | $ | ( i 83) | $ | i — | $ | i 75 | $ | ( i 10) | $ | i 346 | $ | i — | $ | ( i 89) | $ | i — | $ | i 433 | $ | ( i 8) | |||||||||||||
| U.S. Treasury and federal agency securities | $ | i — | $ | i — | $ | i — | $ | i — | $ | i — | $ | i — | $ | i — | $ | i — | $ | i — | $ | i — | $ | i — | |||||||||||||
| State and municipal | i 64 | i 2 | i — | i 10 | ( i 2) | i 21 | i — | ( i 3) | i — | i 92 | i — | ||||||||||||||||||||||||
| Foreign government | i 52 | ( i 85) | i — | i — | i — | i 86 | i — | ( i 14) | i — | i 39 | i 70 | ||||||||||||||||||||||||
| Corporate | i 313 | i 302 | i — | i 22 | i 8 | i 215 | i — | ( i 448) | i — | i 412 | i 246 | ||||||||||||||||||||||||
| Equity securities | i 100 | i — | i — | i 28 | ( i 3) | i 32 | i — | ( i 14) | i — | i 143 | i 1 | ||||||||||||||||||||||||
| Asset-backed securities | i 1,177 | ( i 169) | i — | i 239 | ( i 4) | i 468 | i — | ( i 150) | i — | i 1,561 | ( i 307) | ||||||||||||||||||||||||
| Other trading assets | i 555 | i 193 | i — | i 28 | ( i 137) | i 105 | i 8 | ( i 103) | ( i 10) | i 639 | i 195 | ||||||||||||||||||||||||
| Total trading non-derivative assets | $ | i 2,455 | $ | i 160 | $ | i — | $ | i 402 | $ | ( i 148) | $ | i 1,273 | $ | i 8 | $ | ( i 821) | $ | ( i 10) | $ | i 3,319 | $ | i 197 | |||||||||||||
Trading
derivatives, net(4) | |||||||||||||||||||||||||||||||||||
| Interest rate contracts | $ | i 1 | $ | i 351 | $ | i — | $ | i 1,383 | $ | ( i 22) | $ | i 1 | $ | i 56 | $ | i 13 | $ | ( i 28) | $ | i 1,755 | $ | i 314 | |||||||||||||
| Foreign exchange contracts | ( i 5) | ( i 15) | i — | ( i 25) | i 9 | i 44 | i — | ( i 8) | i 2 | i 2 | i 19 | ||||||||||||||||||||||||
| Equity contracts | ( i 1,596) | ( i 210) | i — | ( i 287) | i 224 | i 3 | i — | ( i 1) | i 31 | ( i 1,836) | ( i 223) | ||||||||||||||||||||||||
| Commodity contracts | ( i 59) | ( i 459) | i — | i 38 | ( i 56) | i 46 | i — | ( i 34) | ( i 18) | ( i 542) | ( i 441) | ||||||||||||||||||||||||
| Credit derivatives | ( i 56) | i 946 | i — | i 154 | ( i 286) | i — | i — | i — | i 58 | i 816 | i 946 | ||||||||||||||||||||||||
Total
trading derivatives, net(4) | $ | ( i 1,715) | $ | i 613 | $ | i — | $ | i 1,263 | $ | ( i 131) | $ | i 94 | $ | i 56 | $ | ( i 30) | $ | i 45 | $ | i 195 | $ | i 615 | |||||||||||||
| Investments | |||||||||||||||||||||||||||||||||||
| Mortgage-backed securities | |||||||||||||||||||||||||||||||||||
| U.S. government-sponsored agency guaranteed | $ | i 32 | $ | i — | $ | i 14 | $ | i — | $ | i 1 | $ | i — | $ | i — | $ | i — | $ | i — | $ | i 47 | $ | i 34 | |||||||||||||
| Residential | i — | i — | i — | i — | i — | i — | i — | i — | i — | i — | i — | ||||||||||||||||||||||||
| Commercial | i — | i — | i — | i — | i — | i — | i — | i — | i — | i — | i — | ||||||||||||||||||||||||
| Total investment mortgage-backed securities | $ | i 32 | $ | i — | $ | i 14 | $ | i — | $ | i 1 | $ | i — | $ | i — | $ | i — | $ | i — | $ | i 47 | $ | i 34 | |||||||||||||
| U.S. Treasury and federal agency securities | $ | i — | $ | i — | $ | i — | $ | i — | $ | i — | $ | i — | $ | i — | $ | i — | $ | i — | $ | i — | $ | i — | |||||||||||||
| State and municipal | i 623 | i — | ( i 31) | i 138 | i — | i — | i — | ( i 43) | i — | i 687 | ( i 9) | ||||||||||||||||||||||||
| Foreign government | i 96 | i — | ( i 2) | i 27 | i — | i 147 | i — | ( i 43) | i — | i 225 | ( i 16) | ||||||||||||||||||||||||
| Corporate | i 45 | i — | ( i 8) | i 49 | i — | i 152 | i — | i — | i — | i 238 | i — | ||||||||||||||||||||||||
| Equity securities | i — | i — | i — | i — | i — | i — | i — | i — | i — | i — | i — | ||||||||||||||||||||||||
| Asset-backed securities | i 22 | i — | i 5 | i — | i — | i — | i — | ( i 11) | i — | i 16 | i — | ||||||||||||||||||||||||
| Other debt securities | i — | i — | i — | i — | i — | i — | i — | i — | i — | i — | i — | ||||||||||||||||||||||||
| Non-marketable equity securities | i 441 | i — | ( i 74) | i — | i — | i — | i — | ( i 3) | ( i 10) | i 354 | ( i 76) | ||||||||||||||||||||||||
| Total investments | $ | i 1,259 | $ | i — | $ | ( i 96) | $ | i 214 | $ | i 1 | $ | i 299 | $ | i — | $ | ( i 100) | $ | ( i 10) | $ | i 1,567 | $ | ( i 67) | |||||||||||||
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 | Mar. 31, 2020 | |||||||||||||||||||||||||
| Loans | $ | i 402 | $ | i — | $ | ( i 79) | $ | i 217 | $ | ( i 1) | $ | i — | $ | i — | $ | i — | $ | ( i 2) | $ | i 537 | $ | ( i 127) | |||||||||||||
| Mortgage servicing rights | i 495 | i — | ( i 143) | i — | i — | i — | i 32 | i — | ( i 17) | i 367 | ( i 133) | ||||||||||||||||||||||||
| Other financial assets measured on a recurring basis | i 1 | i — | i — | i — | i — | i — | i — | ( i 1) | i — | i — | i — | ||||||||||||||||||||||||
| Liabilities | |||||||||||||||||||||||||||||||||||
| Interest-bearing deposits | $ | i 215 | $ | i — | $ | ( i 6) | $ | i 278 | $ | i — | $ | i — | $ | i — | $ | i — | $ | ( i 8) | $ | i 491 | $ | i — | |||||||||||||
| Securities loaned or sold under agreements to repurchase | i 757 | i 27 | i — | i — | i — | i — | i — | i — | i — | i 730 | ( i 33) | ||||||||||||||||||||||||
| Trading account liabilities | — | ||||||||||||||||||||||||||||||||||
| Securities sold, not yet purchased | i 48 | ( i 167) | i — | i 8 | ( i 10) | i — | i 9 | i — | ( i 22) | i 200 | ( i 240) | ||||||||||||||||||||||||
| Other trading liabilities | i — | i — | i — | i — | i — | i — | i — | i — | i — | i — | i — | ||||||||||||||||||||||||
| Short-term borrowings | i 13 | i 10 | i — | i 11 | i — | i — | i 38 | i — | i — | i 52 | i 10 | ||||||||||||||||||||||||
| Long-term debt | i 17,169 | i 1,311 | i — | i 3,189 | ( i 2,693) | i — | i 4,261 | i — | ( i 1,346) | i 19,269 | i 936 | ||||||||||||||||||||||||
| Other financial liabilities measured on a recurring basis | i — | i — | i — | i — | i — | i — | i 2 | i — | ( i 2) | i — | i — | ||||||||||||||||||||||||
| As of March 31, 2021 | Fair
value(1) (in millions) | Methodology | Input | Low(2)(3) | High(2)(3) | Weighted average(4) | ||||||||||||||
| Assets | ||||||||||||||||||||
| Securities borrowed and purchased under agreements to resell | $ | i 262 | Model-based | Credit spread | i 15 bps | i 15 bps | i 15 bps | |||||||||||||
Interest rate | i 0.34 | % | i 0.40 | % | i 0.37 | % | ||||||||||||||
| Mortgage-backed securities | $ | i 227 | Price-based | Price | $ | i 24.00 | $ | i 114.77 | $ | i 91.51 | ||||||||||
| i 148 | Yield analysis | Yield | i 2.47 | % | i 19.21 | % | i 8.44 | % | ||||||||||||
| State and municipal, foreign government, corporate and other debt securities | $ | i 1,488 | Price-based | Price | $ | i — | $ | i 865.86 | $ | i 89.54 | ||||||||||
| i 778 | Model-based | Credit
spread | i 35 bps | i 375 bps | i 230 bps | |||||||||||||||
Marketable equity securities(5) | $ | i 49 | Price-based | Price | $ | i — | $ | i 70,000 | $ | i 14,868 | ||||||||||
| i 32 | Model-based | Recovery (in
millions) | $ | i 5,733 | $ | i 5,733 | $ | i 5,733 | ||||||||||||
WAL | i 1.23 years | i 1.23 years | i 1.23 years | |||||||||||||||||
| Asset-backed securities | $ | i 789 | Price-based | Price | $ | i 2.07 | $ | i 130.05 | $ | i 70.09 | ||||||||||
| i 422 | Yield analysis | Yield | i 3.04 | % | i 15.54 | % | i 7.71 | % | ||||||||||||
| Non-marketable equities | $ | i 214 | Comparables analysis | Illiquidity discount | i 10.00 | % | i 35.00 | % | i 21.94 | % | ||||||||||
| i 100 | Price-based | PE Ratio | i 12.00x | i 28.40x | i 18.42x | |||||||||||||||
| i 37 | Model-based | Adjustment factor | i 0.11x | i 0.56x | i 0.26x | |||||||||||||||
| Price | $ | i 0.97 | $ | i 1,960.00 | $ | i 1,538.36 | ||||||||||||||
| EBITDA multiples | i 4.20x | i 16.70x | i 11.85x | |||||||||||||||||
| Revenue multiple | i 2.30x | i 28.80x | i 16.13x | |||||||||||||||||
Derivatives—gross(6) | ||||||||||||||||||||
| Interest rate contracts (gross) | $ | i 4,892 | Model-based | Inflation volatility | i 0.26 | % | i 2.90 | % | i 0.78 | % | ||||||||||
| IR normal volatility | i 0.12 | % | i 0.89 | % | i 0.61 | % | ||||||||||||||
| Foreign exchange contracts (gross) | $ | i 1,200 | Model-based | FX volatility | i 0.59 | % | i 13.70 | % | i 11.78 | % | ||||||||||
| Interest rate | i 0.06 | % | i 46.79 | % | i 1.09 | % | ||||||||||||||
| IR normal volatility | i 0.12 | % | i 0.88 | % | i 0.41 | % | ||||||||||||||
Equity
contracts (gross)(7) | $ | i 6,594 | Model-based | Equity volatility | i 5.98 | % | i 94.42 | % | i 42.72 | % | ||||||||||
| Forward price | i 61.90 | % | i 108.04 | % | i 93.54 | % | ||||||||||||||
| Commodity and other contracts (gross) | i 2,672 | Model-based | Commodity correlation | ( i 51.81) | % | i 92.81 | % | i 62.96 | % | |||||||||||
| Commodity volatility | i 0.10 | % | i 65.86 | % | i 24.26 | % | ||||||||||||||
| Forward price | i 9.42 | % | i 383.13 | % | i 94.30 | % | ||||||||||||||
| Credit derivatives (gross) | $ | i 1,848 | Model-based | Credit spread | i 6 bps | i 500 bps | i 88 bps | |||||||||||||
| i 413 | Price-based | Recovery rate | i 25.00 | % | i 60.00 | % | i 39.84 | % | ||||||||||||
| Upfront points | i — | % | i 99.12 | % | i 50.13 | % | ||||||||||||||
| Loans and leases | $ | i 1,893 | Model-based | Equity volatility | i 23.41 | % | i 80.12 | % | i 62.45 | % | ||||||||||
| Mortgage servicing rights | $ | i 354 | Cash flow | Yield | i 3.00 | % | i 16.60 | % | i 7.57 | % | ||||||||||
| As of March 31, 2021 | Fair value(1) (in millions) | Methodology | Input | Low(2)(3) | High(2)(3) | Weighted average(4) | ||||||||||||||
| i 79 | Model-based | WAL | i 3.45 years | i 6.91 years | i 5.86 years | |||||||||||||||
| Liabilities | ||||||||||||||||||||
| Interest-bearing deposits | $ | i 199 | Model-based | IR normal volatility | i 0.12 | % | i 0.89 | % | i 0.68 | % | ||||||||||
| Securities loaned and sold under agreements to repurchase | $ | i 977 | Model-based | Interest rate | i 0.08 | % | i 1.86 | % | i 0.71 | % | ||||||||||
| Trading account liabilities | ||||||||||||||||||||
| Securities sold, not yet purchased and other trading liabilities | $ | i 129 | Model-based | IR lognormal volatility | i 60.74 | % | i 140.02 | % | i 109.00 | % | ||||||||||
| i 45 | Price-based | Price | $ | i — | $ | i 865.86 | $ | i 77.85 | ||||||||||||
| Interest rate | i 0.20 | % | i 39.36 | % | i 7.26 | % | ||||||||||||||
| Short-term borrowings and long-term debt | $ | i 26,380 | Model-based | IR normal volatility | i 0.12 | % | i 0.89 | % | i 0.62 | % | ||||||||||
Forward
price | i 9.42 | % | i 383.13 | % | i 92.82 | % | ||||||||||||||
| As of December 31, 2020 | Fair value(1) (in millions) | Methodology | Input | Low(2)(3) | High(2)(3) | Weighted average(4) | ||||||||||||||
| Assets | ||||||||||||||||||||
| Securities borrowed and purchased under agreements to resell | $ | i 320 | Model-based | Credit spread | i 15 bps | i 15 bps | i 15 bps | |||||||||||||
| Interest rate | i 0.30 | % | i 0.35 | % | i 0.32 | % | ||||||||||||||
| Mortgage-backed securities | $ | i 344 | Price-based | Price | $ | i 30 | $ | i 111 | $ | i 80 | ||||||||||
| i 168 | Yield analysis | Yield | i 2.63 | % | i 21.80 | % | i 10.13 | % | ||||||||||||
| State and municipal, foreign government, corporate and other debt securities | $ | i 1,566 | Price-based | Price | $ | i — | $ | i 2,265 | $ | i 90 | ||||||||||
| i 852 | Model-based | Credit spread | i 35 bps | i 375 bps | i 226 bps | |||||||||||||||
Marketable equity securities(5) | $ | i 36 | Model-based | Price | $ | i — | $ | i 31,000 | $ | i 5,132 | ||||||||||
| i 36 | Price-based | WAL | i 1.48 years | i 1.48 years | i 1.48 years | |||||||||||||||
Recovery (in
millions) | $ | i 5,733 | $ | i 5,733 | $ | i 5,733 | ||||||||||||||
| Asset-backed securities | $ | i 863 | Price-based | Price | $ | i 2 | $ | i 157 | $ | i 59 | ||||||||||
| i 744 | Yield analysis | Yield | i 3.77 | % | i 21.77 | % | i 9.01 | % | ||||||||||||
| Non-marketable equities | $ | i 205 | Comparables analysis | Illiquidity discount | i 10.00 | % | i 45.00 | % | i 25.29 | % | ||||||||||
| PE ratio | i 13.60x | i 28.00x | i 22.83x | |||||||||||||||||
| i 142 | Price-based | Price | $ | i 136 | $ | i 2,041 | $ | i 1,647 | ||||||||||||
| EBITDA multiples | i 3.30x | i 36.70x | i 15.10x | |||||||||||||||||
| Adjustment factor | i 0.20x | i 0.61x | i 0.25x | |||||||||||||||||
Appraised
value (in thousands) | $ | i 287 | $ | i 39,745 | $ | i 21,754 | ||||||||||||||
| Revenue multiple | i 2.70x | i 28.00x | i 8.92x | |||||||||||||||||
Derivatives—gross(6) | ||||||||||||||||||||
| Interest rate contracts (gross) | $ | i 5,143 | Model-based | Inflation volatility | i 0.27 | % | i 2.36 | % | i 0.78 | % | ||||||||||
| IR normal volatility | i 0.11 | % | i 0.73 | % | i 0.52 | % | ||||||||||||||
| Foreign exchange contracts (gross) | $ | i 1,296 | Model-based | FX volatility | i 1.70 | % | i 12.63 | % | i 5.41 | % | ||||||||||
| Contingent event | i 100.00 | % | i 100.00 | % | i 100.00 | % | ||||||||||||||
| Interest rate | i 0.84 | % | i 84.09 | % | i 17.55 | % | ||||||||||||||
| IR normal volatility | i 0.11 | % | i 0.52 | % | i 0.46 | % | ||||||||||||||
| IR-FX correlation | i 40.00 | % | i 60.00 | % | i 50.00 | % | ||||||||||||||
| IR-IR correlation | ( i 21.71) | % | i 40.00 | % | i 38.09 | % | ||||||||||||||
Equity
contracts (gross)(7) | $ | i 7,330 | Model-based | Equity volatility | i 5.00 | % | i 91.43 | % | i 42.74 | % | ||||||||||
| Forward price | i 65.88 | % | i 105.20 | % | i 91.82 | % | ||||||||||||||
| As of December 31, 2020 | Fair value(1) (in millions) | Methodology | Input | Low(2)(3) | High(2)(3) | Weighted average(4) | ||||||||||||||
| Commodity and other contracts (gross) | $ | i 1,636 | Model-based | Commodity correlation | ( i 44.92) | % | i 95.91 | % | i 70.60 | % | ||||||||||
| Commodity volatility | i 0.16 | % | i 80.17 | % | i 23.72 | % | ||||||||||||||
| Forward price | i 15.40 | % | i 262.00 | % | i 98.53 | % | ||||||||||||||
| Credit derivatives (gross) | $ | i 1,854 | Model-based | Credit spread | i 3.50 bps | i 352.35 bps | i 99.89 bps | |||||||||||||
| i 408 | Price-based | Recovery rate | i 20.00 | % | i 60.00 | % | i 41.60 | % | ||||||||||||
| Credit correlation | i 25.00 | % | i 80.00 | % | i 43.36 | % | ||||||||||||||
| Upfront points | i — | % | i 107.20 | % | i 48.10 | % | ||||||||||||||
| Loans and leases | $ | i 1,804 | Model-based | Equity volatility | i 24.65 | % | i 83.09 | % | i 58.23 | % | ||||||||||
| Mortgage servicing rights | $ | i 258 | Cash flow | Yield | i 2.86 | % | i 16.00 | % | i 6.32 | % | ||||||||||
| i 78 | Model-based | WAL | i 2.66 years | i 5.40 years | i 4.46 years | |||||||||||||||
| Liabilities | ||||||||||||||||||||
| Interest-bearing deposits | $ | i 206 | Model-based | IR Normal volatility | i 0.11 | % | i 0.73 | % | i 0.54 | % | ||||||||||
| Securities loaned and sold under agreements to repurchase | $ | i 631 | Model-based | Interest rate | i 0.08 | % | i 1.86 | % | i 0.71 | % | ||||||||||
| Trading account liabilities | ||||||||||||||||||||
| Securities sold, not yet purchased | $ | i 178 | Model-based | IR lognormal volatility | i 52.06 | % | i 128.87 | % | i 89.82 | % | ||||||||||
| i 62 | Price-based | Price | $ | i — | $ | i 866 | $ | i 80 | ||||||||||||
| Interest rate | i 10.03 | % | i 20.07 | % | i 13.70 | % | ||||||||||||||
| Short-term
borrowings and long-term debt | $ | i 24,827 | Model-based | IR Normal volatility | i 0.11 | % | i 0.73 | % | i 0.51 | % | ||||||||||
| Forward price | i 15.40 | % | i 262.00 | % | i 92.48 | % | ||||||||||||||
| In millions of dollars | Fair value | Level 2 | Level 3 | ||||||||
| March 31, 2021 | |||||||||||
Loans
HFS(1) | $ | i 1,859 | $ | i 895 | $ | i 964 | |||||
| Other real estate owned | i 26 | i 6 | i 20 | ||||||||
Loans(2) | i 1,060 | i 646 | i 414 | ||||||||
| Non-marketable equity securities measured using the measurement alternative | i 254 | i 254 | i — | ||||||||
| Total assets at fair value on a nonrecurring basis | $ | i 3,199 | $ | i 1,801 | $ | i 1,398 | |||||
| In millions of dollars | Fair value | Level 2 | Level 3 | ||||||||
| December 31, 2020 | |||||||||||
Loans HFS(1) | $ | i 3,375 | $ | i 478 | $ | i 2,897 | |||||
| Other real estate owned | i 17 | i 4 | i 13 | ||||||||
Loans(2) | i 1,015 | i 679 | i 336 | ||||||||
| Non-marketable equity securities measured using the measurement alternative | i 315 | i 312 | i 3 | ||||||||
| Total assets at fair value on a nonrecurring basis | $ | i 4,722 | $ | i 1,473 | $ | i 3,249 | |||||
| As of March 31, 2021 | Fair value(1) (in millions) | Methodology | Input | Low(2) | High | Weighted average(3) | ||||||||||||||
| Loans held-for-sale | $ | i 964 | Price-based | Price | $ | i 74.33 | $ | i 100.00 | $ | i 98.00 | ||||||||||
| Other real estate owned | $ | i 17 | Recovery analysis | Appraised value(4) | $ | i 186,431 | $ | i 4,328,299 | $ | i 3,682,631 | ||||||||||
| i i 3 / | Price-based | Price | i 53.30 | i 53.30 | i 53.30 | |||||||||||||||
Loans(5) | $ | i 377 | Price-based | Price | $ | i 2.50 | $ | i 50.00 | $ | i 25.06 | ||||||||||
| i 37 | Recovery analysis | Appraised value(4) | i 95 | i 43,646,426 | i 15,277,236 | |||||||||||||||
| As of December 31, 2020 | Fair value(1) (in millions) | Methodology | Input | Low(2) | High | Weighted average(3) | ||||||||||||||
| Loans held-for-sale | $ | i 2,683 | Price-based | Price | $ | i 79 | $ | i 100 | $ | i 98 | ||||||||||
| Other real estate owned | $ | i 7 | Price-based | Appraised value(4) | $ | i 3,110,711 | $ | i 4,241,357 | $ | i 3,586,975 | ||||||||||
| i 4 | Recovery analysis | Price | i 51 | i 51 | i 51 | |||||||||||||||
Loans(5) | $ | i 147 | Price-based | Price | $ | i 2 | $ | i 49 | $ | i 23 | ||||||||||
| i 73 | Recovery analysis | Recovery rate | i 0.99 | % | i 78.00 | % | i 13.37 | % | ||||||||||||
Appraised
value(4) | $ | i 34 | $ | i 43,646,426 | $ | i 17,762,950 | ||||||||||||||
| Three Months Ended March 31, | ||||||||
| In millions of dollars | 2021 | 2020 | ||||||
| Loans HFS | $ | ( i 4) | $ | ( i 391) | ||||
| Other real estate owned | i — | i — | ||||||
Loans(1) | i 1 | ( i 44) | ||||||
| Non-marketable equity securities measured using the measurement alternative | i 81 | i 22 | ||||||
| Total nonrecurring fair value gains (losses) | $ | i 78 | $ | ( i 413) | ||||
| March 31, 2021 | Estimated fair value | ||||||||||||||||
| Carrying value | Estimated fair value | ||||||||||||||||
| In billions of dollars | Level 1 | Level 2 | Level 3 | ||||||||||||||
| Assets | |||||||||||||||||
| Investments | $ | i 167.1 | $ | i 167.3 | $ | i 59.4 | $ | i 105.4 | $ | i 2.5 | |||||||
| Securities borrowed and purchased under agreements to resell | i 116.2 | i 116.2 | i — | i 116.2 | i — | ||||||||||||
Loans(1)(2) | i 636.2 | i 653.1 | i — | i 0.9 | i 652.2 | ||||||||||||
Other
financial assets(2)(3) | i 415.8 | i 415.8 | i 305.5 | i 19.2 | i 91.1 | ||||||||||||
| Liabilities | |||||||||||||||||
| Deposits | $ | i 1,297.8 | $ | i 1,298.6 | $ | i — | $ | i 1,125.7 | $ | i 172.9 | |||||||
| Securities loaned and sold under agreements to repurchase | i 150.5 | i 150.5 | i — | i 150.5 | i — | ||||||||||||
Long-term
debt(4) | i 188.3 | i 201.4 | i — | i 181.0 | i 20.4 | ||||||||||||
Other
financial liabilities(5) | i 117.6 | i 117.6 | i — | i 18.3 | i 99.3 | ||||||||||||
| December 31, 2020 | Estimated fair value | ||||||||||||||||
| Carrying value | Estimated fair value | ||||||||||||||||
| In billions of dollars | Level 1 | Level 2 | Level 3 | ||||||||||||||
| Assets | |||||||||||||||||
| Investments | $ | i 110.3 | $ | i 113.2 | $ | i 23.3 | $ | i 87.0 | $ | i 2.9 | |||||||
| Securities borrowed and purchased under agreements to resell | i 109.5 | i 109.5 | i — | i 109.5 | i — | ||||||||||||
Loans(1)(2) | i 643.3 | i 663.9 | i — | i 0.6 | i 663.3 | ||||||||||||
Other
financial assets(2)(3) | i 383.2 | i 383.2 | i 291.5 | i 18.1 | i 73.6 | ||||||||||||
| Liabilities | |||||||||||||||||
| Deposits | $ | i 1,278.7 | $ | i 1,278.8 | $ | i — | $ | i 1,093.3 | $ | i 185.5 | |||||||
| Securities loaned and sold under agreements to repurchase | i 139.3 | i 139.3 | i — | i 139.3 | i — | ||||||||||||
Long-term
debt(4) | i 204.6 | i 221.2 | i — | i 197.8 | i 23.4 | ||||||||||||
Other
financial liabilities(5) | i 102.4 | i 102.4 | i — | i 19.2 | i 83.2 | ||||||||||||
| Changes in fair value—gains (losses) | ||||||||||||||
| Three Months Ended March 31, | ||||||||||||||
| In millions of dollars | 2021 | 2020 | ||||||||||||
| Assets | ||||||||||||||
| Securities borrowed and purchased under agreements to resell | $ | ( i 28) | $ | i 92 | ||||||||||
| Trading account assets | i 101 | ( i 834) | ||||||||||||
| Investments | i — | i — | ||||||||||||
| Loans | ||||||||||||||
| Certain corporate loans | i 129 | ( i 863) | ||||||||||||
| Certain consumer loans | i — | i 1 | ||||||||||||
| Total loans | $ | i 129 | $ | ( i 862) | ||||||||||
| Other assets | ||||||||||||||
| MSRs | $ | i 73 | $ | ( i 143) | ||||||||||
Certain
mortgage loans HFS(1) | ( i 3) | i 62 | ||||||||||||
| Total other assets | $ | i 70 | $ | ( i 81) | ||||||||||
| Total assets | $ | i 272 | $ | ( i 1,685) | ||||||||||
| Liabilities | ||||||||||||||
| Interest-bearing deposits | $ | i 37 | $ | i 112 | ||||||||||
| Securities loaned and sold under agreements to repurchase | i 13 | ( i 288) | ||||||||||||
| Trading account liabilities | i 2 | ( i 61) | ||||||||||||
Short-term
borrowings(2) | ( i 135) | i 1,256 | ||||||||||||
Long-term
debt(2) | i 2,008 | i 7,365 | ||||||||||||
| Total liabilities | $ | i 1,925 | $ | i 8,384 | ||||||||||
| March 31, 2021 | December 31, 2020 | |||||||||||||
| In millions of dollars | Trading assets | Loans | Trading assets | Loans | ||||||||||
| Carrying amount reported on the Consolidated Balance Sheet | $ | i 7,147 | $ | i 7,525 | $ | i 8,063 | $ | i 6,854 | ||||||
| Aggregate unpaid principal balance in excess of (less than) fair value | ( i 112) | ( i 229) | ( i 915) | ( i 14) | ||||||||||
| Balance of non-accrual loans or loans more than 90 days past due | i — | i 4 | i — | i 4 | ||||||||||
| Aggregate unpaid principal balance in excess of (less than) fair value for non-accrual loans or loans more than 90 days past due | i — | i — | i — | i — | ||||||||||
| In millions of dollars | March 31, 2021 | December 31, 2020 | ||||||
| Carrying amount reported on the Consolidated Balance Sheet | $ | i 1,434 | $ | i 1,742 | ||||
| Aggregate fair value in excess of (less than) unpaid principal balance | ( i 276) | i 91 | ||||||
| Balance of non-accrual loans or loans more than 90 days past due | i — | i — | ||||||
| Aggregate unpaid principal balance in excess of fair value for non-accrual loans or loans more than 90 days past due | i — | i — | ||||||
| In billions of dollars | March 31, 2021 | December 31, 2020 | ||||||
| Interest rate linked | $ | i 24.7 | $ | i 16.0 | ||||
| Foreign exchange linked | i 0.8 | i 1.2 | ||||||
| Equity linked | i 29.5 | i 27.3 | ||||||
| Commodity linked | i 1.4 | i 1.4 | ||||||
| Credit linked | i 2.6 | i 2.6 | ||||||
| Total | $ | i 59.0 | $ | i 48.5 | ||||
| In millions of dollars | March 31, 2021 | December 31, 2020 | ||||||
| Carrying amount reported on the Consolidated Balance Sheet | $ | i 68,071 | $ | i 67,063 | ||||
| Aggregate unpaid principal balance in excess of (less than) fair value | ( i 3,433) | ( i 5,130) | ||||||
| In millions of dollars | March 31, 2021 | December 31, 2020 | ||||||
| Carrying amount reported on the Consolidated Balance Sheet | $ | i 7,406 | $ | i 4,683 | ||||
| Aggregate unpaid principal balance in excess of (less than) fair value | i — | i 68 | ||||||
| Maximum potential amount of future payments | ||||||||||||||
| In billions of dollars at March 31, 2021 | Expire within 1 year | Expire
after 1 year | Total amount outstanding | Carrying value (in millions of dollars) | ||||||||||
| Financial standby letters of credit | $ | i 23.3 | $ | i 70.8 | $ | i 94.1 | $ | i 1,123 | ||||||
| Performance guarantees | i 6.6 | i 6.2 | i 12.8 | i 63 | ||||||||||
| Derivative instruments considered to be guarantees | i 12.2 | i 57.2 | i 69.4 | i 458 | ||||||||||
| Loans sold with recourse | i — | i 1.2 | i 1.2 | i 8 | ||||||||||
Securities
lending indemnifications(1) | i 132.1 | i — | i 132.1 | i — | ||||||||||
Credit
card merchant processing(2) | i 96.4 | i — | i 96.4 | i 3 | ||||||||||
| Credit card arrangements with partners | i — | i 0.8 | i 0.8 | i 7 | ||||||||||
| Custody indemnifications and other | i — | i 23.1 | i 23.1 | i 33 | ||||||||||
| Total | $ | i 270.6 | $ | i 159.3 | $ | i 429.9 | $ | i 1,695 | ||||||
| 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 | $ | i 25.3 | $ | i 68.4 | $ | i 93.7 | $ | i 1,407 | ||||||
| Performance guarantees | i 7.3 | i 6.0 | i 13.3 | i 72 | ||||||||||
| Derivative instruments considered to be guarantees | i 20.0 | i 60.9 | i 80.9 | i 671 | ||||||||||
| Loans sold with recourse | i — | i 1.2 | i 1.2 | i 9 | ||||||||||
Securities
lending indemnifications(1) | i 112.2 | i — | i 112.2 | i — | ||||||||||
Credit
card merchant processing(2) | i 101.9 | i — | i 101.9 | i 3 | ||||||||||
| Credit card arrangements with partners | i 0.2 | i 0.8 | i 1.0 | i 7 | ||||||||||
| Custody indemnifications and other | i — | i 37.3 | i 37.3 | i 35 | ||||||||||
| Total | $ | i 266.9 | $ | i 174.6 | $ | i 441.5 | $ | i 2,204 | ||||||
| Maximum potential amount of future payments | ||||||||||||||
| In billions of dollars at March 31, 2021 | Investment grade | Non-investment grade | Not rated | Total | ||||||||||
| Financial standby letters of credit | $ | i 78.2 | $ | i 15.6 | $ | i 0.3 | $ | i 94.1 | ||||||
| Performance guarantees | i 9.7 | i 3.1 | i — | i 12.8 | ||||||||||
| Derivative instruments deemed to be guarantees | i — | i — | i 69.4 | i 69.4 | ||||||||||
| Loans sold with recourse | i — | i — | i 1.2 | i 1.2 | ||||||||||
| Securities lending indemnifications | i — | i — | i 132.1 | i 132.1 | ||||||||||
| Credit card merchant processing | i — | i — | i 96.4 | i 96.4 | ||||||||||
| Credit card arrangements with partners | i — | i — | i 0.8 | i 0.8 | ||||||||||
| Custody indemnifications and other | i 10.6 | i 12.5 | i — | i 23.1 | ||||||||||
| Total | $ | i 98.5 | $ | i 31.2 | $ | i 300.2 | $ | i 429.9 | ||||||
| Maximum potential amount of future payments | ||||||||||||||
| In billions of dollars at December 31, 2020 | Investment grade | Non-investment grade | Not rated | Total | ||||||||||
| Financial standby letters of credit | $ | i 78.5 | $ | i 14.6 | $ | i 0.6 | $ | i 93.7 | ||||||
| Performance guarantees | i 9.8 | i 3.0 | i 0.5 | i 13.3 | ||||||||||
| Derivative instruments deemed to be guarantees | i — | i — | i 80.9 | i 80.9 | ||||||||||
| Loans sold with recourse | i — | i — | i 1.2 | i 1.2 | ||||||||||
| Securities lending indemnifications | i — | i — | i 112.2 | i 112.2 | ||||||||||
| Credit card merchant processing | i — | i — | i 101.9 | i 101.9 | ||||||||||
| Credit card arrangements with partners | i — | i — | i 1.0 | i 1.0 | ||||||||||
| Custody indemnifications and other | i 24.9 | i 12.4 | i — | i 37.3 | ||||||||||
| Total | $ | i 113.2 | $ | i 30.0 | $ | i 298.3 | $ | i 441.5 | ||||||
| In millions of dollars | U.S. | Outside
of U.S. | March 31, 2021 | December 31, 2020 | ||||||||||
| Commercial and similar letters of credit | $ | i 783 | $ | i 5,092 | $ | i 5,875 | $ | i 5,221 | ||||||
| One- to four-family residential mortgages | i 3,393 | i 2,387 | i 5,780 | i 5,002 | ||||||||||
| Revolving open-end loans secured by one- to four-family residential properties | i 8,105 | i 1,204 | i 9,309 | i 9,626 | ||||||||||
| Commercial real estate, construction and land development | i 13,980 | i 2,356 | i 16,336 | i 12,867 | ||||||||||
| Credit card lines | i 609,591 | i 100,961 | i 710,552 | i 710,399 | ||||||||||
| Commercial and other consumer loan commitments | i 217,804 | i 123,196 | i 341,000 | i 322,458 | ||||||||||
| Other commitments and contingencies | i 5,302 | i 1,299 | i 6,601 | i 5,715 | ||||||||||
| Total | $ | i 858,958 | $ | i 236,495 | $ | i 1,095,453 | $ | i 1,071,288 | ||||||
| In millions of dollars | March
31, 2021 | December 31, 2020 | ||||||
| Cash and due from banks | $ | i 3,884 | $ | i 3,774 | ||||
| Deposits with banks, net of allowance | i 12,006 | i 14,203 | ||||||
| Total | $ | i 15,890 | $ | i 17,977 | ||||
| Three Months Ended March 31, 2021 | |||||||||||||||||||||||||||||
| In millions of dollars | Citigroup parent company | CGMHI | Other Citigroup subsidiaries and eliminations | Consolidating adjustments | Citigroup consolidated | ||||||||||||||||||||||||
| Revenues | |||||||||||||||||||||||||||||
| Dividends from subsidiaries | $ | i 100 | $ | i — | $ | i — | $ | ( i 100) | $ | i — | |||||||||||||||||||
| Interest revenue | i — | i 971 | i 11,563 | i — | i 12,534 | ||||||||||||||||||||||||
| Interest revenue—intercompany | i 958 | i 145 | ( i 1,103) | i — | i — | ||||||||||||||||||||||||
| Interest expense | i 1,212 | i 223 | i 933 | i — | i 2,368 | ||||||||||||||||||||||||
| Interest expense—intercompany | i 84 | i 329 | ( i 413) | i — | i — | ||||||||||||||||||||||||
| Net interest revenue | $ | ( i 338) | $ | i 564 | $ | i 9,940 | $ | i — | $ | i 10,166 | |||||||||||||||||||
| Commissions and fees | $ | i — | $ | i 2,161 | $ | i 1,509 | $ | i — | $ | i 3,670 | |||||||||||||||||||
| Commissions and fees—intercompany | ( i 26) | i 47 | ( i 21) | i — | i — | ||||||||||||||||||||||||
| Principal transactions | i 1,769 | i 5,658 | ( i 3,514) | i — | i 3,913 | ||||||||||||||||||||||||
| Principal transactions—intercompany | ( i 1,878) | ( i 4,238) | i 6,116 | i — | i — | ||||||||||||||||||||||||
| Other revenue | i 55 | i 103 | i 1,420 | i — | i 1,578 | ||||||||||||||||||||||||
| Other revenue—intercompany | ( i 64) | ( i 20) | i 84 | i — | i — | ||||||||||||||||||||||||
| Total non-interest revenues | $ | ( i 144) | $ | i 3,711 | $ | i 5,594 | $ | i — | $ | i 9,161 | |||||||||||||||||||
| Total revenues, net of interest expense | $ | ( i 382) | $ | i 4,275 | $ | i 15,534 | $ | ( i 100) | $ | i 19,327 | |||||||||||||||||||
| Provisions for credit losses and for benefits and claims | $ | i — | $ | i 4 | $ | ( i 2,059) | $ | i — | $ | ( i 2,055) | |||||||||||||||||||
| Operating expenses | |||||||||||||||||||||||||||||
| Compensation and benefits | $ | i 28 | $ | i 1,334 | $ | i 4,639 | $ | i — | $ | i 6,001 | |||||||||||||||||||
| Compensation and benefits—intercompany | i 24 | i — | ( i 24) | i — | i — | ||||||||||||||||||||||||
| Other operating | i 11 | i 642 | i 4,419 | i — | i 5,072 | ||||||||||||||||||||||||
| Other operating—intercompany | i 3 | i 680 | ( i 683) | i — | i — | ||||||||||||||||||||||||
| Total operating expenses | $ | i 66 | $ | i 2,656 | $ | i 8,351 | $ | i — | $ | i 11,073 | |||||||||||||||||||
| Equity in undistributed income of subsidiaries | $ | i 8,173 | $ | i — | $ | i — | $ | ( i 8,173) | $ | i — | |||||||||||||||||||
| Income (loss) from continuing operations before income taxes | $ | i 7,725 | $ | i 1,615 | $ | i 9,242 | $ | ( i 8,273) | $ | i 10,309 | |||||||||||||||||||
| Provision (benefit) for income taxes | ( i 217) | i 452 | i 2,097 | i — | i 2,332 | ||||||||||||||||||||||||
| Income (loss) from continuing operations | $ | i 7,942 | $ | i 1,163 | $ | i 7,145 | $ | ( i 8,273) | $ | i 7,977 | |||||||||||||||||||
| Income (loss) from discontinued operations, net of taxes | i — | i — | ( i 2) | i — | ( i 2) | ||||||||||||||||||||||||
| Net income before attribution of noncontrolling interests | $ | i 7,942 | $ | i 1,163 | $ | i 7,143 | $ | ( i 8,273) | $ | i 7,975 | |||||||||||||||||||
| Noncontrolling interests | i — | i — | i 33 | i — | i 33 | ||||||||||||||||||||||||
| Net income (loss) | $ | i 7,942 | $ | i 1,163 | $ | i 7,110 | $ | ( i 8,273) | $ | i 7,942 | |||||||||||||||||||
| Comprehensive income | |||||||||||||||||||||||||||||
| Add: Other comprehensive income (loss) | $ | ( i 2,953) | $ | ( i 50) | $ | i 537 | $ | ( i 487) | $ | ( i 2,953) | |||||||||||||||||||
| Total Citigroup comprehensive income (loss) | $ | i 4,989 | $ | i 1,113 | $ | i 7,647 | $ | ( i 8,760) | $ | i 4,989 | |||||||||||||||||||
| Add: Other comprehensive income attributable to noncontrolling interests | $ | i — | $ | i — | $ | ( i 58) | $ | i — | $ | ( i 58) | |||||||||||||||||||
| Add: Net income attributable to noncontrolling interests | i — | i — | i 33 | i — | i 33 | ||||||||||||||||||||||||
| Total comprehensive income (loss) | $ | i 4,989 | $ | i 1,113 | $ | i 7,622 | $ | ( i 8,760) | $ | i 4,964 | |||||||||||||||||||
| Three Months Ended March 31, 2020 | |||||||||||||||||||||||||||||
| In millions of dollars | Citigroup parent company | CGMHI | Other Citigroup subsidiaries and eliminations | Consolidating adjustments | Citigroup consolidated | ||||||||||||||||||||||||
| Revenues | |||||||||||||||||||||||||||||
| Dividends from subsidiaries | $ | i 105 | $ | i — | $ | i — | $ | ( i 105) | $ | i — | |||||||||||||||||||
| Interest revenue | i — | i 1,903 | i 15,236 | i — | i 17,139 | ||||||||||||||||||||||||
| Interest revenue—intercompany | i 1,144 | i 341 | ( i 1,485) | i — | i — | ||||||||||||||||||||||||
| Interest expense | i 1,143 | i 1,141 | i 3,363 | i — | i 5,647 | ||||||||||||||||||||||||
| Interest expense—intercompany | i 248 | i 782 | ( i 1,030) | i — | i — | ||||||||||||||||||||||||
| Net interest revenue | $ | ( i 247) | $ | i 321 | $ | i 11,418 | $ | i — | $ | i 11,492 | |||||||||||||||||||
| Commissions and fees | $ | i — | $ | i 1,550 | $ | i 1,471 | $ | i — | $ | i 3,021 | |||||||||||||||||||
| Commissions and fees—intercompany | ( i 19) | i 164 | ( i 145) | i — | i — | ||||||||||||||||||||||||
| Principal transactions | ( i 672) | i 6,254 | ( i 321) | i — | i 5,261 | ||||||||||||||||||||||||
| Principal transactions—intercompany | i 502 | ( i 4,391) | i 3,889 | i — | i — | ||||||||||||||||||||||||
| Other revenue | i 80 | i 49 | i 828 | i — | i 957 | ||||||||||||||||||||||||
| Other revenue—intercompany | ( i 70) | i 13 | i 57 | i — | i — | ||||||||||||||||||||||||
| Total non-interest revenues | $ | ( i 179) | $ | i 3,639 | $ | i 5,779 | $ | i — | $ | i 9,239 | |||||||||||||||||||
| Total revenues, net of interest expense | $ | ( i 321) | $ | i 3,960 | $ | i 17,197 | $ | ( i 105) | $ | i 20,731 | |||||||||||||||||||
| Provisions for credit losses and for benefits and claims | $ | i — | $ | ( i 1) | $ | i 6,961 | $ | i — | $ | i 6,960 | |||||||||||||||||||
| Operating expenses | |||||||||||||||||||||||||||||
| Compensation and benefits | $ | i 28 | $ | i 1,296 | $ | i 4,330 | $ | i — | $ | i 5,654 | |||||||||||||||||||
| Compensation and benefits—intercompany | i 74 | i — | ( i 74) | i — | i — | ||||||||||||||||||||||||
| Other operating | i 23 | i 598 | i 4,368 | i — | i 4,989 | ||||||||||||||||||||||||
| Other operating—intercompany | i 4 | i 482 | ( i 486) | i — | i — | ||||||||||||||||||||||||
| Total operating expenses | $ | i 129 | $ | i 2,376 | $ | i 8,138 | $ | i — | $ | i 10,643 | |||||||||||||||||||
| Equity in undistributed income of subsidiaries | $ | i 2,382 | $ | i — | $ | i — | $ | ( i 2,382) | $ | i — | |||||||||||||||||||
| Income
(loss) from continuing operations before income taxes | $ | i 1,932 | $ | i 1,585 | $ | i 2,098 | $ | ( i 2,487) | $ | i 3,128 | |||||||||||||||||||
| Provision (benefit) for income taxes | ( i 604) | i 337 | i 847 | i — | i 580 | ||||||||||||||||||||||||
| Income (loss) from continuing operations | $ | i 2,536 | $ | i 1,248 | $ | i 1,251 | $ | ( i 2,487) | $ | i 2,548 | |||||||||||||||||||
| Income (loss) from discontinued operations, net of taxes | i — | i — | ( i 18) | i — | ( i 18) | ||||||||||||||||||||||||
| Net income (loss) before attribution of noncontrolling interests | $ | i 2,536 | $ | i 1,248 | $ | i 1,233 | $ | ( i 2,487) | $ | i 2,530 | |||||||||||||||||||
| Noncontrolling interests | i — | i — | ( i 6) | i — | ( i 6) | ||||||||||||||||||||||||
| Net income (loss) | $ | i 2,536 | $ | i 1,248 | $ | i 1,239 | $ | ( i 2,487) | $ | i 2,536 | |||||||||||||||||||
| Comprehensive income | |||||||||||||||||||||||||||||
| Add: Other comprehensive income (loss) | $ | i 3,797 | $ | i 1,757 | $ | i 13,459 | $ | ( i 15,216) | $ | i 3,797 | |||||||||||||||||||
| Total Citigroup comprehensive income (loss) | $ | i 6,333 | $ | i 3,005 | $ | i 14,698 | $ | ( i 17,703) | $ | i 6,333 | |||||||||||||||||||
| Add: Other comprehensive income attributable to noncontrolling interests | $ | i — | $ | i — | $ | ( i 51) | $ | i — | $ | ( i 51) | |||||||||||||||||||
| Add: Net income attributable to noncontrolling interests | i — | i — | ( i 6) | i — | ( i 6) | ||||||||||||||||||||||||
| Total comprehensive income (loss) | $ | i 6,333 | $ | i 3,005 | $ | i 14,641 | $ | ( i 17,703) | $ | i 6,276 | |||||||||||||||||||
| March 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 | $ | i — | $ | i 676 | $ | i 25,528 | $ | i — | $ | i 26,204 | |||||||||||||||||||
| Cash and due from banks—intercompany | i 11 | i 5,929 | ( i 5,940) | i — | i — | ||||||||||||||||||||||||
| Deposits with banks, net of allowance | i — | i 5,408 | i 293,070 | i — | i 298,478 | ||||||||||||||||||||||||
| Deposits with banks—intercompany | i 3,000 | i 8,833 | ( i 11,833) | i — | i — | ||||||||||||||||||||||||
| Securities borrowed and purchased under resale agreements | i — | i 258,976 | i 56,096 | i — | i 315,072 | ||||||||||||||||||||||||
| Securities borrowed and purchased under resale agreements—intercompany | i — | i 25,598 | ( i 25,598) | i — | i — | ||||||||||||||||||||||||
| Trading account assets | i 265 | i 222,114 | i 138,280 | i — | i 360,659 | ||||||||||||||||||||||||
| Trading account assets—intercompany | i 1,202 | i 11,732 | ( i 12,934) | i — | i — | ||||||||||||||||||||||||
| Investments, net of allowance | i 1 | i 235 | i 472,723 | i — | i 472,959 | ||||||||||||||||||||||||
| Loans, net of unearned income | i — | i 3,442 | i 662,546 | i — | i 665,988 | ||||||||||||||||||||||||
| Loans, net of unearned income—intercompany | i — | i — | i — | i — | i — | ||||||||||||||||||||||||
| Allowance for credit losses on loans (ACLL) | i — | i — | ( i 21,638) | i — | ( i 21,638) | ||||||||||||||||||||||||
| Total loans, net | $ | i — | $ | i 3,442 | $ | i 640,908 | $ | i — | $ | i 644,350 | |||||||||||||||||||
| Advances to subsidiaries | $ | i 149,378 | $ | i — | $ | ( i 149,378) | $ | i — | $ | i — | |||||||||||||||||||
| Investments in subsidiaries | i 218,488 | i — | i — | ( i 218,488) | i — | ||||||||||||||||||||||||
Other
assets, net of allowance(1) | i 12,591 | i 72,333 | i 111,620 | i — | i 196,544 | ||||||||||||||||||||||||
| Other assets—intercompany | i 3,445 | i 54,272 | ( i 57,717) | i — | i — | ||||||||||||||||||||||||
| Total assets | $ | i 388,381 | $ | i 669,548 | $ | i 1,474,825 | $ | ( i 218,488) | $ | i 2,314,266 | |||||||||||||||||||
| Liabilities and equity | |||||||||||||||||||||||||||||
| Deposits | $ | i — | $ | i — | $ | i 1,300,975 | $ | i — | $ | i 1,300,975 | |||||||||||||||||||
| Deposits—intercompany | i — | i — | i — | i — | i — | ||||||||||||||||||||||||
| Securities loaned and sold under repurchase agreements | i — | i 201,562 | i 17,606 | i — | i 219,168 | ||||||||||||||||||||||||
| Securities loaned and sold under repurchase agreements—intercompany | i — | i 63,566 | ( i 63,566) | i — | i — | ||||||||||||||||||||||||
| Trading account liabilities | i 32 | i 129,449 | i 49,636 | i — | i 179,117 | ||||||||||||||||||||||||
| Trading account liabilities—intercompany | i 1,000 | i 11,181 | ( i 12,181) | i — | i — | ||||||||||||||||||||||||
| Short-term borrowings | i — | i 12,874 | i 19,213 | i — | i 32,087 | ||||||||||||||||||||||||
| Short-term borrowings—intercompany | i — | i 12,942 | ( i 12,942) | i — | i — | ||||||||||||||||||||||||
| Long-term debt | i 164,099 | i 50,267 | i 41,969 | i — | i 256,335 | ||||||||||||||||||||||||
| Long-term debt—intercompany | i — | i 72,433 | ( i 72,433) | i — | i — | ||||||||||||||||||||||||
| Advances from subsidiaries | i 17,937 | i — | ( i 17,937) | i — | i — | ||||||||||||||||||||||||
| Other liabilities, including allowance | i 2,695 | i 60,243 | i 60,373 | i — | i 123,311 | ||||||||||||||||||||||||
| Other liabilities—intercompany | i 69 | i 18,352 | ( i 18,421) | i — | i — | ||||||||||||||||||||||||
| Stockholders’ equity | i 202,549 | i 36,679 | i 182,533 | ( i 218,488) | i 203,273 | ||||||||||||||||||||||||
| Total liabilities and equity | $ | i 388,381 | $ | i 669,548 | $ | i 1,474,825 | $ | ( i 218,488) | $ | i 2,314,266 | |||||||||||||||||||
| 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 | $ | i — | $ | i 628 | $ | i 25,721 | $ | i — | $ | i 26,349 | |||||||||||||||||||
| Cash and due from banks—intercompany | i 16 | i 6,081 | ( i 6,097) | i — | i — | ||||||||||||||||||||||||
| Deposits with banks, net of allowance | i — | i 5,224 | i 278,042 | i — | i 283,266 | ||||||||||||||||||||||||
| Deposits with banks—intercompany | i 4,500 | i 8,179 | ( i 12,679) | i — | i — | ||||||||||||||||||||||||
| Securities borrowed and purchased under resale agreements | i — | i 238,718 | i 55,994 | i — | i 294,712 | ||||||||||||||||||||||||
| Securities borrowed and purchased under resale agreements—intercompany | i — | i 24,309 | ( i 24,309) | i — | i — | ||||||||||||||||||||||||
| Trading account assets | i 307 | i 222,278 | i 152,494 | i — | i 375,079 | ||||||||||||||||||||||||
| Trading account assets—intercompany | i 723 | i 9,400 | ( i 10,123) | i — | i — | ||||||||||||||||||||||||
| Investments, net of allowance | i 1 | i 374 | i 446,984 | i — | i 447,359 | ||||||||||||||||||||||||
| Loans, net of unearned income | i — | i 2,524 | i 673,359 | i — | i 675,883 | ||||||||||||||||||||||||
| Loans, net of unearned income—intercompany | i — | i — | i — | i — | i — | ||||||||||||||||||||||||
| Allowance for credit losses on loans (ACLL) | i — | i — | ( i 24,956) | i — | ( i 24,956) | ||||||||||||||||||||||||
| Total loans, net | $ | i — | $ | i 2,524 | $ | i 648,403 | $ | i — | $ | i 650,927 | |||||||||||||||||||
| Advances to subsidiaries | $ | i 152,383 | $ | i — | $ | ( i 152,383) | $ | i — | $ | i — | |||||||||||||||||||
| Investments in subsidiaries | i 213,267 | i — | i — | ( i 213,267) | i — | ||||||||||||||||||||||||
Other
assets, net of allowance(1) | i 12,156 | i 60,273 | i 109,969 | i — | i 182,398 | ||||||||||||||||||||||||
| Other assets—intercompany | i 2,781 | i 51,489 | ( i 54,270) | i — | i — | ||||||||||||||||||||||||
| Total assets | $ | i 386,134 | $ | i 629,477 | $ | i 1,457,746 | $ | ( i 213,267) | $ | i 2,260,090 | |||||||||||||||||||
| Liabilities and equity | |||||||||||||||||||||||||||||
| Deposits | $ | i — | $ | i — | $ | i 1,280,671 | $ | i — | $ | i 1,280,671 | |||||||||||||||||||
| Deposits—intercompany | i — | i — | i — | i — | i — | ||||||||||||||||||||||||
| Securities loaned and sold under repurchase agreements | i — | i 184,786 | i 14,739 | i — | i 199,525 | ||||||||||||||||||||||||
| Securities loaned and sold under repurchase agreements—intercompany | i — | i 76,590 | ( i 76,590) | i — | i — | ||||||||||||||||||||||||
| Trading account liabilities | i — | i 113,100 | i 54,927 | i — | i 168,027 | ||||||||||||||||||||||||
| Trading account liabilities—intercompany | i 397 | i 8,591 | ( i 8,988) | i — | i — | ||||||||||||||||||||||||
| Short-term borrowings | i — | i 12,323 | i 17,191 | i — | i 29,514 | ||||||||||||||||||||||||
| Short-term borrowings—intercompany | i — | i 12,757 | ( i 12,757) | i — | i — | ||||||||||||||||||||||||
| Long-term debt | i 170,563 | i 47,732 | i 53,391 | i — | i 271,686 | ||||||||||||||||||||||||
| Long-term debt—intercompany | i — | i 67,322 | ( i 67,322) | i — | i — | ||||||||||||||||||||||||
| Advances from subsidiaries | i 12,975 | i — | ( i 12,975) | i — | i — | ||||||||||||||||||||||||
| Other liabilities, including allowance | i 2,692 | i 55,217 | i 52,558 | i — | i 110,467 | ||||||||||||||||||||||||
| Other liabilities—intercompany | i 65 | i 15,378 | ( i 15,443) | i — | i — | ||||||||||||||||||||||||
| Stockholders’ equity | i 199,442 | i 35,681 | i 178,344 | ( i 213,267) | i 200,200 | ||||||||||||||||||||||||
| Total liabilities and equity | $ | i 386,134 | $ | i 629,477 | $ | i 1,457,746 | $ | ( i 213,267) | $ | i 2,260,090 | |||||||||||||||||||
| Three Months Ended March 31, 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 | $ | ( i 4,966) | $ | i 12,638 | $ | i 15,526 | $ | i — | $ | i 23,198 | |||||||||||||||||||
| Cash flows from investing activities of continuing operations | |||||||||||||||||||||||||||||
| Purchases of investments | $ | i — | $ | i — | $ | ( i 111,187) | $ | i — | $ | ( i 111,187) | |||||||||||||||||||
| Proceeds from sales of investments | i — | i — | i 46,049 | i — | i 46,049 | ||||||||||||||||||||||||
| Proceeds from maturities of investments | i — | i — | i 35,088 | i — | i 35,088 | ||||||||||||||||||||||||
| Change in loans | i — | i — | i 9,933 | i — | i 9,933 | ||||||||||||||||||||||||
| Proceeds from sales and securitizations of loans | i — | i — | i 323 | i — | i 323 | ||||||||||||||||||||||||
| Change in securities borrowed and purchased under agreements to resell | i — | ( i 21,547) | i 1,187 | i — | ( i 20,360) | ||||||||||||||||||||||||
| Changes in investments and advances—intercompany | i 1,887 | ( i 2,991) | i 1,104 | i — | i — | ||||||||||||||||||||||||
Other
investing activities | i — | ( i 23) | ( i 757) | i — | ( i 780) | ||||||||||||||||||||||||
| Net cash provided by (used in) investing activities of continuing operations | $ | i 1,887 | $ | ( i 24,561) | $ | ( i 18,260) | $ | i — | $ | ( i 40,934) | |||||||||||||||||||
| Cash flows from financing activities of continuing operations | |||||||||||||||||||||||||||||
| Dividends paid | $ | ( i 1,356) | $ | ( i 115) | $ | i 115 | $ | i — | $ | ( i 1,356) | |||||||||||||||||||
Issuance
of preferred stock | i 2,300 | i — | i — | i — | i 2,300 | ||||||||||||||||||||||||
Redemption
of preferred stock | ( i 1,500) | i — | i — | i — | ( i 1,500) | ||||||||||||||||||||||||
| Treasury stock acquired | ( i 1,481) | i — | i — | i — | ( i 1,481) | ||||||||||||||||||||||||
| Proceeds (repayments) from issuance of long-term debt, net | ( i 1,039) | i 3,172 | ( i 9,049) | i — | ( i 6,916) | ||||||||||||||||||||||||
| Proceeds (repayments) from issuance of long-term debt—intercompany, net | i — | i 5,702 | ( i 5,702) | i — | i — | ||||||||||||||||||||||||
| Change in deposits | i — | i — | i 20,304 | i — | i 20,304 | ||||||||||||||||||||||||
| Change in securities loaned and sold under agreements to repurchase | i — | i 3,752 | i 15,891 | i — | i 19,643 | ||||||||||||||||||||||||
| Change in short-term borrowings | i — | i 551 | i 2,022 | i — | i 2,573 | ||||||||||||||||||||||||
| Net change in short-term borrowings and other advances—intercompany | i 4,962 | ( i 405) | ( i 4,557) | i — | i — | ||||||||||||||||||||||||
| Other financing activities | ( i 312) | i — | i — | i — | ( i 312) | ||||||||||||||||||||||||
| Net cash provided by financing activities of continuing operations | $ | i 1,574 | $ | i 12,657 | $ | i 19,024 | $ | i — | $ | i 33,255 | |||||||||||||||||||
| Effect of exchange rate changes on cash and due from banks | $ | i — | $ | i — | $ | ( i 452) | $ | i — | $ | ( i 452) | |||||||||||||||||||
| Change in cash and due from banks and deposits with banks | $ | ( i 1,505) | $ | i 734 | $ | i 15,838 | $ | i — | $ | i 15,067 | |||||||||||||||||||
| Cash and due from banks and deposits with banks at beginning of period | i 4,516 | i 20,112 | i 284,987 | i — | i 309,615 | ||||||||||||||||||||||||
| Cash and due from banks and deposits with banks at end of period | $ | i 3,011 | $ | i 20,846 | $ | i 300,825 | $ | i — | $ | i 324,682 | |||||||||||||||||||
| Cash and due from banks | $ | i 11 | $ | i 6,605 | $ | i 19,588 | $ | i — | $ | i 26,204 | |||||||||||||||||||
| Deposits with banks, net of allowance | i 3,000 | i 14,241 | i 281,237 | i — | i 298,478 | ||||||||||||||||||||||||
| Cash and due from banks and deposits with banks at end of period | $ | i 3,011 | $ | i 20,846 | $ | i 300,825 | $ | i — | $ | i 324,682 | |||||||||||||||||||
| Supplemental disclosure of cash flow information for continuing operations | |||||||||||||||||||||||||||||
| Cash paid during the period for income taxes | $ | i 99 | $ | i 31 | $ | i 820 | $ | i — | $ | i 950 | |||||||||||||||||||
Cash
paid during the period for interest | i 126 | i 634 | i 969 | i — | i 1,729 | ||||||||||||||||||||||||
Non-cash
investing activities | |||||||||||||||||||||||||||||
Transfers
to loans HFS from loans | $ | i — | $ | i — | $ | i 636 | $ | i — | $ | i 636 | |||||||||||||||||||
| Three Months Ended March 31, 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 | $ | i 4,334 | $ | ( i 38,869) | $ | i 9,002 | $ | i — | $ | ( i 25,533) | |||||||||||||||||||
| Cash flows from investing activities of continuing operations | |||||||||||||||||||||||||||||
| Purchases of investments | $ | i — | $ | i — | $ | ( i 108,658) | $ | i — | $ | ( i 108,658) | |||||||||||||||||||
| Proceeds from sales of investments | i — | i — | i 44,399 | i — | i 44,399 | ||||||||||||||||||||||||
| Proceeds from maturities of investments | i — | i — | i 29,203 | i — | i 29,203 | ||||||||||||||||||||||||
| Change in loans | i — | i — | ( i 26,743) | i — | ( i 26,743) | ||||||||||||||||||||||||
| Proceeds from sales and securitizations of loans | i — | i — | i 596 | i — | i 596 | ||||||||||||||||||||||||
| Change in securities borrowed and purchased under agreements to resell | i — | ( i 8,421) | ( i 2,793) | i — | ( i 11,214) | ||||||||||||||||||||||||
| Changes in investments and advances—intercompany | i 1,121 | ( i 9,442) | i 8,321 | i — | i — | ||||||||||||||||||||||||
| Other investing activities | i — | i — | ( i 440) | i — | ( i 440) | ||||||||||||||||||||||||
| Net cash provided by (used in) investing activities of continuing operations | $ | i 1,121 | $ | ( i 17,863) | $ | ( i 56,115) | $ | i — | $ | ( i 72,857) | |||||||||||||||||||
| Cash flows from financing activities of continuing operations | |||||||||||||||||||||||||||||
| Dividends paid | $ | ( i 1,365) | $ | i — | $ | i — | $ | i — | $ | ( i 1,365) | |||||||||||||||||||
| Issuance of preferred stock | i 1,500 | i — | i — | i — | i 1,500 | ||||||||||||||||||||||||
| Redemption of preferred stock | ( i 1,500) | i — | i — | i — | ( i 1,500) | ||||||||||||||||||||||||
| Treasury stock acquired | ( i 2,925) | i — | i — | i — | ( i 2,925) | ||||||||||||||||||||||||
| Proceeds (repayments) from issuance of long-term debt, net | i 5,742 | i 72 | i 10,032 | i — | i 15,846 | ||||||||||||||||||||||||
| Proceeds (repayments) from issuance of long-term debt—intercompany, net | i — | i 554 | ( i 554) | i — | i — | ||||||||||||||||||||||||
| Change in deposits | i — | i — | i 114,321 | i — | i 114,321 | ||||||||||||||||||||||||
| Change in securities loaned and sold under agreements to repurchase | i — | i 49,341 | i 6,644 | i — | i 55,985 | ||||||||||||||||||||||||
| Change in short-term borrowings | i — | i 2,901 | i 7,001 | i — | i 9,902 | ||||||||||||||||||||||||
| Net change in short-term borrowings and other advances—intercompany | ( i 6,507) | i 7,040 | ( i 533) | i — | i — | ||||||||||||||||||||||||
| Other financing activities | ( i 406) | ( i 119) | i 119 | i — | ( i 406) | ||||||||||||||||||||||||
| Net cash provided by (used in) financing activities of continuing operations | $ | ( i 5,461) | $ | i 59,789 | $ | i 137,030 | $ | i — | $ | i 191,358 | |||||||||||||||||||
| Effect of exchange rate changes on cash and due from banks | $ | i — | $ | i — | $ | ( i 967) | $ | i — | $ | ( i 967) | |||||||||||||||||||
| Change in cash and due from banks and deposits with banks | $ | ( i 6) | $ | i 3,057 | $ | i 88,950 | $ | i — | $ | i 92,001 | |||||||||||||||||||
| Cash and due from banks and deposits with banks at beginning of period | i 3,021 | i 16,441 | i 174,457 | i — | i 193,919 | ||||||||||||||||||||||||
| Cash and due from banks and deposits with banks at end of period | $ | i 3,015 | $ | i 19,498 | $ | i 263,407 | $ | i — | $ | i 285,920 | |||||||||||||||||||
| Cash and due from banks | $ | i 15 | $ | i 4,525 | $ | i 19,215 | $ | i — | $ | i 23,755 | |||||||||||||||||||
| Deposits with banks, net of allowance | i 3,000 | i 14,973 | i 244,192 | i — | i 262,165 | ||||||||||||||||||||||||
| Cash and due from banks and deposits with banks at end of period | $ | i 3,015 | $ | i 19,498 | $ | i 263,407 | $ | i — | $ | i 285,920 | |||||||||||||||||||
| Supplemental disclosure of cash flow information for continuing operations | |||||||||||||||||||||||||||||
| Cash paid during the period for income taxes | $ | i 16 | $ | i 78 | $ | i 1,347 | $ | i — | $ | i 1,441 | |||||||||||||||||||
| Cash paid during the period for interest | i 998 | i 1,983 | i 2,443 | i — | i 5,424 | ||||||||||||||||||||||||
| Non-cash investing activities | |||||||||||||||||||||||||||||
| Transfers to loans HFS from loans | $ | i — | $ | i — | $ | i 224 | $ | i — | $ | i 224 | |||||||||||||||||||
| In millions, except per share amounts | Total shares purchased | Average price paid per share | |||||||||
| January 2021 | |||||||||||
| Open market repurchases | — | $ | — | ||||||||
Employee transactions(1) | — | — | |||||||||
| February 2021 | |||||||||||
| Open market repurchases | 3.5 | 67.22 | |||||||||
Employee transactions(1) | — | — | |||||||||
| March 2021 | |||||||||||
| Open market repurchases | 19.0 | 72.01 | |||||||||
Employee transactions(1) | — | — | |||||||||
| Total for 1Q21 | 22.5 | $ | 71.26 | ||||||||
| Exhibit | ||||||||
| Number | Description of Exhibit | |||||||
Financial
statements from the Quarterly Report on Form 10-Q of Citigroup for the quarter ended March 31, 2021, filed on May
5, 2021, formatted in Inline XBRL: (i) the Consolidated Statement of Income, (ii) the Consolidated Balance Sheet, (iii) the Consolidated Statement of Changes in Shareholders’ Equity, (iv) the Consolidated Statement of Cash Flows and (v) the Notes to the Consolidated Financial Statements. | ||||||||
| 104 | See the cover page of this Quarterly Report on Form 10-Q, formatted in Inline XBRL. | |||||||
As Of Filer Filing For·On·As Docs:Size Issuer Filing Agent 2/26/21 Citigroup Inc. 10-K 12/31/20 218:84M |
