PRINCIPAL TRANSACTIONS

Citi’s Principal transactions revenue consists of realized and unrealized gains and losses from trading activities. For additional information regarding Principal transactions revenue, see Note 6 to the Consolidated Financial Statements in Citi’s 2015 Annual Report on Form 10-K.

The following table presents Principal transactions revenue:



	Three Months Ended September 30,						Nine Months Ended September 30,
In millions of dollars	2016			2015			2016			2015
Global Consumer Banking	$	163		$	144		$	473		$	444
Institutional Clients Group	2,063			1,209			5,548			5,199
Corporate/Other	(37		)	(26		)	(183		)	(265		)
Subtotal Citicorp	$	2,189		$	1,327		$	5,838		$	5,378
Citi Holdings	49			—			56			93
Total Citigroup	$	2,238		$	1,327		$	5,894		$	5,471
Interest rate risks⁽¹⁾	$	1,282		$	907		$	3,229		$	3,497
Foreign exchange risks⁽²⁾	466			432			1,481			1,236
Equity risks⁽³⁾	81			(183		)	76			(254		)
Commodity and other risks⁽⁴⁾	171			180			436			614
Credit products and risks⁽⁵⁾	238			(9		)	672			378
Total	$	2,238		$	1,327		$	5,894		$	5,471

(1)

Includes revenues from government securities and corporate debt, municipal securities, mortgage securities and other debt instruments. Also includes spot and forward trading of currencies and exchange-traded and over-the-counter (OTC) currency options, options on fixed income securities, interest rate swaps, currency swaps, swap options, caps and floors, financial futures, OTC options and forward contracts on fixed income securities.


(2)	Includes revenues from foreign exchange spot, forward, option and swap contracts, as well as foreign currency translation (FX translation) gains and losses.


(3)	Includes revenues from common, preferred and convertible preferred stock, convertible corporate debt, equity-linked notes and exchange-traded and OTC equity options and warrants.


(4)	Primarily includes revenues from crude oil, refined oil products, natural gas and other commodities trades.


(5)	Includes revenues from structured credit products.