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ALLOWANCE FOR CREDIT LOSSES (Tables)
 12 Months Ended
Dec. 31, 2014
Loans and Leases Receivable, Allowance [Abstract]  
Allowance for credit losses
In millions of dollars
2014
2013
2012
Allowance for loan losses at beginning of period
$
19,648

$
25,455

$
30,115

Gross credit losses
(11,108
)
(12,769
)
(17,005
)
Gross recoveries (1)(2)(3)
2,135

2,306

2,774

Net credit losses (NCLs)
$
(8,973
)
$
(10,463
)
$
(14,231
)
NCLs
$
8,973

$
10,463

$
14,231

Net reserve releases
(1,879
)
(1,961
)
(1,908
)
Net specific reserve releases
(266
)
(898
)
(1,865
)
Total provision for credit losses
$
6,828

$
7,604

$
10,458

Other, net (4)
(1,509
)
(2,948
)
(887
)
Allowance for loan losses at end of period
$
15,994

$
19,648

$
25,455

Allowance for credit losses on unfunded lending commitments at beginning of period (5)
$
1,229

$
1,119

$
1,136

Provision (release) for unfunded lending commitments
(162
)
80

(16
)
Other, net
(4
)
30

(1
)
Allowance for credit losses on unfunded lending commitments at end of period (5)
$
1,063

$
1,229

$
1,119

Total allowance for loans, leases, and unfunded lending commitments
$
17,057

$
20,877

$
26,574


(1)
Recoveries have been reduced by certain collection costs that are incurred only if collection efforts are successful.
(2)
2012 includes approximately $635 million of incremental charge-offs related to OCC guidance issued in the third quarter of 2012 (see Note 1 to the Consolidated Financial Statements). There was a corresponding approximately $600 million release in the third quarter of 2012 allowance for loan losses related to these charge-offs. 2012 also includes a benefit to charge-offs of approximately $40 million related to finalizing the impact of this OCC guidance in the fourth quarter of 2012.
(3)
2012 includes approximately $370 million of incremental charge-offs related to previously deferred principal balances on modified loans in the first quarter of 2012. These charge-offs were related to anticipated forgiveness of principal in connection with the national mortgage settlement. There was a corresponding approximately $350 million reserve release in the first quarter of 2012 related to these charge-offs.
(4)
2014 includes reductions of approximately $1.1 billion related to the sale or transfer to held-for-sale (HFS) of various loan portfolios, which includes approximately $411 million related to the transfer of various real estate loan portfolios to HFS, approximately $204 million related to the transfer to HFS of a business in Greece, approximately $177 million related to the transfer to HFS of a business in Spain, approximately $29 million related to the transfer to HFS of a business in Honduras, and approximately $108 million related to the transfer to HFS of various EMEA loan portfolios. Additionally, 2014 includes a reduction of approximately $463 million related to foreign currency translation. 2013 includes reductions of approximately $2.4 billion related to the sale or transfer to held-for-sale of various loan portfolios, which includes approximately $360 million related to the sale of Credicard and approximately $255 million related to a transfer to held-for-sale of a loan portfolio in Greece, approximately $230 million related to a non-provision transfer of reserves associated with deferred interest to other assets which includes deferred interest and approximately $220 million related to foreign currency translation. 2012 includes reductions of approximately $875 million related to the sale or transfer to held-for-sale of various U.S. loan portfolios.
(5)
Represents additional credit loss reserves for unfunded lending commitments and letters of credit recorded in Other liabilities on the Consolidated Balance Sheet.
Schedule of allowance for credit losses and investment in loans by portfolio segment
Allowance for Credit Losses and Investment in Loans at December 31, 2014
In millions of dollars
Corporate
Consumer
Total
Allowance for loan losses at beginning of period
$
2,584

$
17,064

$
19,648

Charge-offs
(427
)
(10,681
)
(11,108
)
Recoveries
139

1,996

2,135

Replenishment of net charge-offs
288

8,685

8,973

Net reserve releases
(133
)
(1,746
)
(1,879
)
Net specific reserve releases
(20
)
(246
)
(266
)
Other
(42
)
(1,467
)
(1,509
)
Ending balance
$
2,389

$
13,605

$
15,994

Allowance for loan losses
 

 

 

Determined in accordance with ASC 450
$
2,110

$
9,673

$
11,783

Determined in accordance with ASC 310-10-35
235

3,917

4,152

Determined in accordance with ASC 310-30
44

15

59

Total allowance for loan losses
$
2,389

$
13,605

$
15,994

Loans, net of unearned income






Loans collectively evaluated for impairment in accordance with ASC 450
$
267,271

$
350,199

$
617,470

Loans individually evaluated for impairment in accordance with ASC 310-10-35
1,485

19,358

20,843

Loans acquired with deteriorated credit quality in accordance with ASC 310-30
51

370

421

Loans held at fair value
5,858

43

5,901

Total loans, net of unearned income
$
274,665

$
369,970

$
644,635


Allowance for Credit Losses and Investment in Loans at December 31, 2013

In millions of dollars
Corporate
Consumer
Total
Allowance for loan losses at beginning of period
$
2,776

$
22,679

$
25,455

Charge-offs
(369
)
(12,400
)
(12,769
)
Recoveries
168

2,138

2,306

Replenishment of net charge-offs
201

10,262

10,463

Net reserve releases
(199
)
(1,762
)
(1,961
)
Net specific reserve releases
(1
)
(897
)
(898
)
Other
8

(2,956
)
(2,948
)
Ending balance
$
2,584

$
17,064

$
19,648

Allowance for loan losses
 

 

 

Determined in accordance with ASC 450
$
2,232

$
12,402

$
14,634

Determined in accordance with ASC 310-10-35
268

4,633

4,901

Determined in accordance with ASC 310-30
84

29

113

Total allowance for loan losses
$
2,584

$
17,064

$
19,648

Loans, net of unearned income






Loans collectively evaluated for impairment in accordance with ASC 450
$
265,230

$
368,449

$
633,679

Loans individually evaluated for impairment in accordance with ASC 310-10-35
2,222

23,793

26,015

Loans acquired with deteriorated credit quality in accordance with ASC 310-30
117

632

749

Loans held at fair value
4,072

957

5,029

Total loans, net of unearned income
$
271,641

$
393,831

$
665,472


Allowance for Credit Losses at December 31, 2012

In millions of dollars
Corporate
Consumer
Total
Allowance for loan losses at beginning of period
$
2,879

$
27,236

$
30,115

Charge-offs
(640
)
(16,365
)
(17,005
)
Recoveries
417

2,357

2,774

Replenishment of net charge-offs
223

14,008

14,231

Net reserve build (releases)
2

(1,910
)
(1,908
)
Net specific reserve releases
(138
)
(1,727
)
(1,865
)
Other
33

(920
)
(887
)
Ending balance
$
2,776

$
22,679

$
25,455