GUARANTEES AND COMMITMENTS (Tables)

6 Months Ended

Jun. 30, 2018

Pledged Assets, Collateral, Guarantees and Commitments [Abstract]

The following tables present information about Citi’s guarantees at June 30, 2018 and December 31, 2017:



	Maximum potential amount of future payments
In billions of dollars at June 30, 2018 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	$	30.1	$	64.2	$	94.3	$	149
Performance guarantees	7.7		4.2		11.9		29
Derivative instruments considered to be guarantees	15.5		84.1		99.6		396
Loans sold with recourse	—		0.3		0.3		9
Securities lending indemnifications⁽¹⁾	121.5		—		121.5		—
Credit card merchant processing⁽¹⁾⁽²⁾	94.2		—		94.2		—
Credit card arrangements with partners	0.1		1.1		1.2		162
Custody indemnifications and other	—		37.1		37.1		128
Total	$	269.1	$	191.0	$	460.1	$	873



	Maximum potential amount of future payments
In billions of dollars at December 31, 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	$	27.9	$	65.9	$	93.8	$	93
Performance guarantees	7.2		4.1		11.3		20
Derivative instruments considered to be guarantees	11.0		84.9		95.9		423
Loans sold with recourse	—		0.2		0.2		9
Securities lending indemnifications⁽¹⁾	103.7		—		103.7		—
Credit card merchant processing⁽¹⁾⁽²⁾	85.5		—		85.5		—
Credit card arrangements with partners	0.3		1.1		1.4		205
Custody indemnifications and other	—		36.0		36.0		59
Total	$	235.6	$	192.2	$	427.8	$	809


(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 June 30, 2018 and December 31, 2017, this maximum potential exposure was estimated to be $94 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 June 30, 2018	Investment grade		Non-investment grade		Not rated		Total
Financial standby letters of credit	$	64.9	$	12.3	$	17.1	$	94.3
Performance guarantees	8.7		2.1		1.1		11.9
Derivative instruments deemed to be guarantees	—		—		99.6		99.6
Loans sold with recourse	—		—		0.3		0.3
Securities lending indemnifications	—		—		121.5		121.5
Credit card merchant processing	—		—		94.2		94.2
Credit card arrangements with partners	—		—		1.2		1.2
Custody indemnifications and other	24.3		12.8		—		37.1
Total	$	97.9	$	27.2	$	335.0	$	460.1



	Maximum potential amount of future payments
In billions of dollars at December 31, 2017	Investment grade		Non-investment grade		Not rated		Total
Financial standby letters of credit	$	68.1	$	10.9	$	14.8	$	93.8
Performance guarantees	7.9		2.4		1.0		11.3
Derivative instruments deemed to be guarantees	—		—		95.9		95.9
Loans sold with recourse	—		—		0.2		0.2
Securities lending indemnifications	—		—		103.7		103.7
Credit card merchant processing	—		—		85.5		85.5
Credit card arrangements with partners	—		—		1.4		1.4
Custody indemnifications and other	23.7		12.3		—		36.0
Total	$	99.7	$	25.6	$	302.5	$	427.8

Schedule of credit commitments

The table below summarizes Citigroup’s credit commitments:



In millions of dollars	U.S.		Outside of U.S.		June 30, 2018		December 31, 2017
Commercial and similar letters of credit	$	865	$	4,691	$	5,556	$	5,000
One- to four-family residential mortgages	1,561		1,799		3,360		2,674
Revolving open-end loans secured by one- to four-family residential properties	10,308		1,417		11,725		12,323
Commercial real estate, construction and land development	10,927		2,388		13,315		11,151
Credit card lines	600,259		93,036		693,295		678,300
Commercial and other consumer loan commitments	198,912		102,096		301,008		272,655
Other commitments and contingencies	2,211		810		3,021		3,071
Total	$	825,043	$	206,237	$	1,031,280	$	985,174

Schedule of restricted cash



In millions of dollars	June 30, 2018		December 31, 2017
Cash and due from banks	$	2,855	$	3,151
Deposits with banks	27,624		27,664
Total	$	30,479	$	30,815