GUARANTEES AND COMMITMENTS (Tables)

9 Months Ended

Sep. 30, 2017

Pledged Assets, Collateral, Guarantees and Commitments [Abstract]

The following tables present information about Citi’s guarantees at September 30, 2017 and December 31, 2016:



	Maximum potential amount of future payments
In billions of dollars at September 30, 2017 except carrying value in millions	Expire within 1 year		Expire after 1 year		Total amount outstanding		Carrying value (in millions of dollars)
Financial standby letters of credit	$	27.0	$	66.2	$	93.2	$	166
Performance guarantees	8.0		3.0		11.0		20
Derivative instruments considered to be guarantees	13.8		86.7		100.5		676
Loans sold with recourse	—		0.2		0.2		9
Securities lending indemnifications⁽¹⁾	106.4		—		106.4		—
Credit card merchant processing⁽¹⁾⁽²⁾	82.6		—		82.6		—
Credit card arrangements with partners	0.1		1.3		1.4		205
Custody indemnifications and other	—		54.6		54.6		59
Total	$	237.9	$	212.0	$	449.9	$	1,135



	Maximum potential amount of future payments
In billions of dollars at December 31, 2016 except carrying value in millions	Expire within 1 year		Expire after 1 year		Total amount outstanding		Carrying value (in millions of dollars)
Financial standby letters of credit	$	26.0	$	67.1	$	93.1	$	141
Performance guarantees	7.5		3.6		11.1		19
Derivative instruments considered to be guarantees	7.2		80.0		87.2		747
Loans sold with recourse	—		0.2		0.2		12
Securities lending indemnifications⁽¹⁾	80.3		—		80.3		—
Credit card merchant processing⁽¹⁾⁽²⁾	86.4		—		86.4		—
Credit card arrangements with partners	—		1.5		1.5		206
Custody indemnifications and other	—		45.4		45.4		58
Total	$	207.4	$	197.8	$	405.2	$	1,183


(1)	The carrying values of securities lending indemnifications and credit card merchant processing were not material for either period presented, as the probability of potential liabilities arising from these guarantees is minimal.

(2)

At September 30, 2017 and December 31, 2016, this maximum potential exposure was estimated to be $83 billion and $86 billion, respectively. However, Citi believes that the maximum exposure is not representative of the actual potential loss exposure based on its historical experience. This contingent liability is unlikely to arise, as most products and services are delivered when purchased and amounts are refunded when items are returned to merchants.

Schedule of guarantor obligations by credit ratings

Presented in the tables below are the maximum potential amounts of future payments that are classified based upon internal and external credit ratings. The determination of the maximum potential future payments is based on the notional amount of the guarantees without consideration of possible recoveries under recourse provisions or from collateral held or pledged. As such, Citi believes such amounts bear no relationship to the anticipated losses, if any, on these guarantees.



	Maximum potential amount of future payments
In billions of dollars at September 30, 2017	Investment grade		Non-investment grade		Not rated		Total
Financial standby letters of credit	$	65.9	$	13.2	$	14.1	$	93.2
Performance guarantees	7.2		3.0		0.8		11.0
Derivative instruments deemed to be guarantees	—		—		100.5		100.5
Loans sold with recourse	—		—		0.2		0.2
Securities lending indemnifications	—		—		106.4		106.4
Credit card merchant processing	—		—		82.6		82.6
Credit card arrangements with partners	—		—		1.4		1.4
Custody indemnifications and other	54.3		0.3		—		54.6
Total	$	127.4	$	16.5	$	306.0	$	449.9



	Maximum potential amount of future payments
In billions of dollars at December 31, 2016	Investment grade		Non-investment grade		Not rated		Total
Financial standby letters of credit	$	66.8	$	13.4	$	12.9	$	93.1
Performance guarantees	6.3		4.0		0.8		11.1
Derivative instruments deemed to be guarantees	—		—		87.2		87.2
Loans sold with recourse	—		—		0.2		0.2
Securities lending indemnifications	—		—		80.3		80.3
Credit card merchant processing	—		—		86.4		86.4
Credit card arrangements with partners	—		—		1.5		1.5
Custody indemnifications and other	45.3		0.1		—		45.4
Total	$	118.4	$	17.5	$	269.3	$	405.2

Schedule of credit commitments

The table below summarizes Citigroup’s credit commitments:



In millions of dollars	U.S.		Outside of U.S.		September 30, 2017		December 31, 2016
Commercial and similar letters of credit	$	756	$	4,297	$	5,053	$	5,736
One- to four-family residential mortgages	1,352		1,831		3,183		2,838
Revolving open-end loans secured by one- to four-family residential properties	11,137		1,508		12,645		13,405
Commercial real estate, construction and land development	9,166		1,973		11,139		10,781
Credit card lines	579,285		100,624		679,909		664,335
Commercial and other consumer loan commitments	167,736		95,939		263,675		259,934
Other commitments and contingencies	2,115		1,325		3,440		3,202
Total	$	771,547	$	207,497	$	979,044	$	960,231