GUARANTEES AND COMMITMENTS (Tables)

9 Months Ended

Sep. 30, 2018

Pledged Assets, Collateral, Guarantees and Commitments [Abstract]

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



	Maximum potential amount of future payments
In billions of dollars at September 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	$	29.9	$	65.5	$	95.4	$	165
Performance guarantees	7.8		4.0		11.8		30
Derivative instruments considered to be guarantees	21.2		84.5		105.7		307
Loans sold with recourse	—		1.4		1.4		9
Securities lending indemnifications⁽¹⁾	120.5		—		120.5		—
Credit card merchant processing⁽¹⁾⁽²⁾	95.5		—		95.5		—
Credit card arrangements with partners	—		1.1		1.1		162
Custody indemnifications and other	—		38.6		38.6		62
Total	$	274.9	$	195.1	$	470.0	$	735



	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	—		1.4		1.4		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	$	193.4	$	429.0	$	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 September 30, 2018 and December 31, 2017, this maximum potential exposure was estimated to be $96 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, 2018	Investment grade		Non-investment grade		Not rated		Total
Financial standby letters of credit	$	68.0	$	11.4	$	16.0	$	95.4
Performance guarantees	8.6		2.2		1.0		11.8
Derivative instruments deemed to be guarantees	—		—		105.7		105.7
Loans sold with recourse	—		—		1.4		1.4
Securities lending indemnifications	—		—		120.5		120.5
Credit card merchant processing	—		—		95.5		95.5
Credit card arrangements with partners	—		—		1.1		1.1
Custody indemnifications and other	25.7		12.9		—		38.6
Total	$	102.3	$	26.5	$	341.2	$	470.0



	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	—		—		1.4		1.4
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	$	303.7	$	429.0

Schedule of credit commitments

The table below summarizes Citigroup’s credit commitments:



In millions of dollars	U.S.		Outside of U.S.		September 30, 2018		December 31, 2017
Commercial and similar letters of credit	$	798	$	4,290	$	5,088	$	5,000
One- to four-family residential mortgages	1,199		1,709		2,908		2,674
Revolving open-end loans secured by one- to four-family residential properties	10,212		1,391		11,603		12,323
Commercial real estate, construction and land development	12,175		1,971		14,146		11,151
Credit card lines	605,614		94,646		700,260		678,300
Commercial and other consumer loan commitments	199,722		107,517		307,239		272,655
Other commitments and contingencies	3,165		516		3,681		3,071
Total	$	832,885	$	212,040	$	1,044,925	$	985,174

Schedule of restricted cash

Restricted cash is included on the Consolidated Balance Sheet within the following balance sheet lines:



In millions of dollars	September 30, 2018		December 31, 2017
Cash and due from banks	$	3,488	$	3,151
Deposits with banks	24,106		27,664
Total	$	27,594	$	30,815