DEBT

Short-Term Borrowings



In millions of dollars	September 30, 2014		December 31, 2013
Commercial paper
Significant Citibank Entities⁽¹⁾	$	17,600	$	17,677
Parent⁽²⁾	163		201
Total Commercial paper	$	17,763	$	17,878
Other borrowings ⁽³⁾	47,075		41,066
Total	$	64,838	$	58,944


(1)	Significant Citibank Entities consist of Citibank, N.A. units domiciled in the U.S., Western Europe, Hong Kong and Singapore.


(2)	Parent includes the parent holding company (Citigroup Inc.) and Citi’s broker-dealer subsidiaries that are consolidated into Citigroup.


(3)	At both September 30, 2014 and December 31, 2013, collateralized short-term advances from the Federal Home Loan Banks were $11 billion.

Borrowings under bank lines of credit may be at interest rates based on LIBOR, CD rates, the prime rate or bids submitted by the banks. Citigroup pays commitment fees for its lines of credit.

Some of Citigroup’s non-bank subsidiaries have credit facilities with Citigroup’s subsidiary depository institutions, including Citibank, N.A. Borrowings under these facilities are secured in accordance with Section 23A of the Federal Reserve Act.

Citigroup Global Markets Holdings Inc. (CGMHI) has borrowing agreements consisting of facilities that CGMHI has been advised are available, but where no contractual lending obligation exists. These arrangements are reviewed on an ongoing basis to ensure flexibility in meeting CGMHI’s short-term requirements.

Long-Term Debt



In millions of dollars	September 30, 2014		December 31, 2013
Citigroup Inc.⁽¹⁾	$	147,892	$	156,804
Bank⁽²⁾	67,908		56,457
Broker-dealer⁽³⁾	8,042		7,855
Total⁽⁴⁾	$	223,842	$	221,116


(1)	Parent holding company, Citigroup Inc.


(2)	Represents the Significant Citibank Entities as well as other Citibank and Banamex entities. At September 30, 2014 and December 31, 2013, collateralized long-term advances from the Federal Home Loan Banks were $23.3 billion and $14.0 billion, respectively.


(3)	Represents broker-dealer subsidiaries that are consolidated into Citigroup Inc., the parent holding company.


(4)	Includes senior notes with carrying values of $87 million issued to outstanding Safety First Trusts at December 31, 2013. As of September 30, 2014, no amounts were outstanding to these trusts.

Long-term debt outstanding includes trust preferred securities with a balance sheet carrying value of $1.7 billion and $3.9 billion at September 30, 2014 and December 31, 2013, respectively (for the structure and terms of Citi’s trust preferred securities, see Note 18 to the Consolidated Financial Statements in the 2013 Annual Report on Form 10-K).

The following table summarizes the Company’s outstanding trust preferred securities at September 30, 2014:



							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 share amounts
Citigroup Capital III	Dec. 1996	194,053	$	194	7.625%	6,003	$	200	Dec. 1, 2036	Not redeemable
Citigroup Capital XIII	Sept. 2010	89,840,000	2,246		7.875%	1,000	2,246		Oct. 30, 2040	Oct. 30, 2015
Citigroup Capital XVIII	Jun. 2007	99,901	162		6.829%	50	162		June 28, 2067	June 28, 2017
Total obligated			$	2,602			$	2,608

Note: Distributions on the trust preferred securities and interest on the subordinated debentures are payable semiannually for Citigroup Capital III and Citigroup Capital XVIII and quarterly for Citigroup Capital XIII.


(1)	Represents the notional value received by investors from the trusts at the time of issuance.


(2)	In each case, the coupon rate on the subordinated debentures is the same as that on the trust preferred securities.