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LOANS (Tables)

6 Months Ended

Jun. 30, 2019

The following table provides Citi’s consumer loans by loan type:

Consumer Loans, Delinquencies and Non-Accrual Details at June 30, 2019



In millions of dollars	Total current⁽¹⁾⁽²⁾		30–89 days past due⁽³⁾		≥ 90 days past due⁽³⁾		Past due government guaranteed⁽⁴⁾		Total loans⁽²⁾		Total non-accrual		90 days past due and accruing
In North America offices⁽⁵⁾
Residential first mortgages⁽⁶⁾	$	44,122	$	480	$	224	$	648	$	45,474	$	582	$	407
Home equity loans⁽⁷⁾⁽⁸⁾	10,028		153		223		—		10,404		476		—
Credit cards	137,091		1,536		1,639		—		140,266		—		1,639
Installment and other	3,193		40		12		—		3,245		19		—
Commercial banking loans	10,655		22		13		—		10,690		139		—
Total	$	205,089	$	2,231	$	2,111	$	648	$	210,079	$	1,216	$	2,046
In offices outside North America⁽⁵⁾
Residential first mortgages⁽⁶⁾	$	36,226	$	207	$	147	$	—	$	36,580	$	405	$	—
Credit cards	24,188		416		371		—		24,975		302		238
Installment and other	26,970		241		110		—		27,321		146		—
Commercial banking loans	26,926		60		54		—		27,040		159		—
Total	$	114,310	$	924	$	682	$	—	$	115,916	$	1,012	$	238
Total Citigroup⁽⁹⁾	$	319,399	$	3,155	$	2,793	$	648	$	325,995	$	2,228	$	2,284


(1)	Loans less than 30 days past due are presented as current.


(2)	Includes $20 million of residential first mortgages recorded at fair value.


(3)	Excludes loans guaranteed by U.S. government-sponsored entities.


(4)	Consists of residential first mortgages that are guaranteed by U.S. government-sponsored entities that are 30–89 days past due of $0.2 billion and 90 days or more past due of $0.4 billion.


(5)	North America includes the U.S., Canada and Puerto Rico. Mexico is included in offices outside North America.


(6)	Includes approximately $0.1 billion of residential first mortgage loans in process of foreclosure.


(7)	Includes approximately $0.1 billion of home equity loans in process of foreclosure.


(8)	Fixed-rate home equity loans and loans extended under home equity lines of credit, which are typically in junior lien positions.

(9)

Consumer loans are net of unearned income of $713 million. Unearned income on consumer loans primarily represents unamortized origination fees and costs, premiums and discounts.

Consumer Loans, Delinquencies and Non-Accrual Details at December 31, 2018



In millions of dollars	Total current⁽¹⁾⁽²⁾		30–89 days past due⁽³⁾		≥ 90 days past due⁽³⁾		Past due government guaranteed⁽⁴⁾		Total loans⁽²⁾		Total non-accrual		90 days past due and accruing
In North America offices⁽⁵⁾
Residential first mortgages⁽⁶⁾	$	45,953	$	420	$	253	$	786	$	47,412	$	583	$	549
Home equity loans⁽⁷⁾⁽⁸⁾	11,135		161		247		—		11,543		527		—
Credit cards	141,106		1,687		1,764		—		144,557		—		1,764
Installment and other	3,395		43		16		—		3,454		22		—
Commercial banking loans	9,662		20		46		—		9,728		109		—
Total	$	211,251	$	2,331	$	2,326	$	786	$	216,694	$	1,241	$	2,313
In offices outside North America⁽⁵⁾
Residential first mortgages⁽⁶⁾	$	35,624	$	203	$	145	$	—	$	35,972	$	383	$	—
Credit cards	24,131		425		370		—		24,926		312		235
Installment and other	25,773		254		107		—		26,134		152		—
Commercial banking loans	26,657		51		53		—		26,761		138		—
Total	$	112,185	$	933	$	675	$	—	$	113,793	$	985	$	235
Total Citigroup⁽⁹⁾	$	323,436	$	3,264	$	3,001	$	786	$	330,487	$	2,226	$	2,548


(1)	Loans less than 30 days past due are presented as current.


(2)	Includes $20 million of residential first mortgages recorded at fair value.


(3)	Excludes loans guaranteed by U.S. government-sponsored entities.


(4)	Consists of residential first mortgages that are guaranteed by U.S. government-sponsored entities that are 30–89 days past due of $0.2 billion and 90 days or more past due of $0.6 billion.


(5)	North America includes the U.S., Canada and Puerto Rico. Mexico is included in offices outside North America.


(6)	Includes approximately $0.1 billion of residential first mortgage loans in process of foreclosure.


(7)	Includes approximately $0.1 billion of home equity loans in process of foreclosure.


(8)	Fixed-rate home equity loans and loans extended under home equity lines of credit, which are typically in junior lien positions.

(9)

Consumer loans are net of unearned income of $708 million. Unearned income on consumer loans primarily represents unamortized origination fees and costs, premiums and discounts.

Schedule of loan delinquency and non-accrual details

The following table provides Citi’s consumer loans by loan type:

Consumer Loans, Delinquencies and Non-Accrual Details at June 30, 2019



In millions of dollars	Total current⁽¹⁾⁽²⁾		30–89 days past due⁽³⁾		≥ 90 days past due⁽³⁾		Past due government guaranteed⁽⁴⁾		Total loans⁽²⁾		Total non-accrual		90 days past due and accruing
In North America offices⁽⁵⁾
Residential first mortgages⁽⁶⁾	$	44,122	$	480	$	224	$	648	$	45,474	$	582	$	407
Home equity loans⁽⁷⁾⁽⁸⁾	10,028		153		223		—		10,404		476		—
Credit cards	137,091		1,536		1,639		—		140,266		—		1,639
Installment and other	3,193		40		12		—		3,245		19		—
Commercial banking loans	10,655		22		13		—		10,690		139		—
Total	$	205,089	$	2,231	$	2,111	$	648	$	210,079	$	1,216	$	2,046
In offices outside North America⁽⁵⁾
Residential first mortgages⁽⁶⁾	$	36,226	$	207	$	147	$	—	$	36,580	$	405	$	—
Credit cards	24,188		416		371		—		24,975		302		238
Installment and other	26,970		241		110		—		27,321		146		—
Commercial banking loans	26,926		60		54		—		27,040		159		—
Total	$	114,310	$	924	$	682	$	—	$	115,916	$	1,012	$	238
Total Citigroup⁽⁹⁾	$	319,399	$	3,155	$	2,793	$	648	$	325,995	$	2,228	$	2,284


(1)	Loans less than 30 days past due are presented as current.


(2)	Includes $20 million of residential first mortgages recorded at fair value.


(3)	Excludes loans guaranteed by U.S. government-sponsored entities.


(4)	Consists of residential first mortgages that are guaranteed by U.S. government-sponsored entities that are 30–89 days past due of $0.2 billion and 90 days or more past due of $0.4 billion.


(5)	North America includes the U.S., Canada and Puerto Rico. Mexico is included in offices outside North America.


(6)	Includes approximately $0.1 billion of residential first mortgage loans in process of foreclosure.


(7)	Includes approximately $0.1 billion of home equity loans in process of foreclosure.


(8)	Fixed-rate home equity loans and loans extended under home equity lines of credit, which are typically in junior lien positions.

(9)

Consumer loans are net of unearned income of $713 million. Unearned income on consumer loans primarily represents unamortized origination fees and costs, premiums and discounts.

Consumer

Loans receivable

Schedule of loan delinquency and non-accrual details

Consumer Loans, Delinquencies and Non-Accrual Details at December 31, 2018



In millions of dollars	Total current⁽¹⁾⁽²⁾		30–89 days past due⁽³⁾		≥ 90 days past due⁽³⁾		Past due government guaranteed⁽⁴⁾		Total loans⁽²⁾		Total non-accrual		90 days past due and accruing
In North America offices⁽⁵⁾
Residential first mortgages⁽⁶⁾	$	45,953	$	420	$	253	$	786	$	47,412	$	583	$	549
Home equity loans⁽⁷⁾⁽⁸⁾	11,135		161		247		—		11,543		527		—
Credit cards	141,106		1,687		1,764		—		144,557		—		1,764
Installment and other	3,395		43		16		—		3,454		22		—
Commercial banking loans	9,662		20		46		—		9,728		109		—
Total	$	211,251	$	2,331	$	2,326	$	786	$	216,694	$	1,241	$	2,313
In offices outside North America⁽⁵⁾
Residential first mortgages⁽⁶⁾	$	35,624	$	203	$	145	$	—	$	35,972	$	383	$	—
Credit cards	24,131		425		370		—		24,926		312		235
Installment and other	25,773		254		107		—		26,134		152		—
Commercial banking loans	26,657		51		53		—		26,761		138		—
Total	$	112,185	$	933	$	675	$	—	$	113,793	$	985	$	235
Total Citigroup⁽⁹⁾	$	323,436	$	3,264	$	3,001	$	786	$	330,487	$	2,226	$	2,548


(1)	Loans less than 30 days past due are presented as current.


(2)	Includes $20 million of residential first mortgages recorded at fair value.


(3)	Excludes loans guaranteed by U.S. government-sponsored entities.


(4)	Consists of residential first mortgages that are guaranteed by U.S. government-sponsored entities that are 30–89 days past due of $0.2 billion and 90 days or more past due of $0.6 billion.


(5)	North America includes the U.S., Canada and Puerto Rico. Mexico is included in offices outside North America.


(6)	Includes approximately $0.1 billion of residential first mortgage loans in process of foreclosure.


(7)	Includes approximately $0.1 billion of home equity loans in process of foreclosure.


(8)	Fixed-rate home equity loans and loans extended under home equity lines of credit, which are typically in junior lien positions.


(9)	Consumer loans are net of unearned income of $708 million. Unearned income on consumer loans primarily represents unamortized origination fees and costs, premiums and discounts.

Schedule of loans credit quality indicators

The following tables provide details on the LTV ratios for Citi’s U.S. consumer mortgage portfolios. LTV ratios are updated monthly using the most recent Core Logic Home Price Index data available for substantially all of the portfolio applied at the Metropolitan Statistical Area level, if available, or the state level if not. The remainder of the portfolio is updated in a similar manner using the Federal Housing Finance Agency indices.



LTV distribution in U.S. portfolio⁽¹⁾⁽²⁾	June 30, 2019
In millions of dollars	Less than or equal to 80%		> 80% but less than or equal to 100%		Greater than 100%
Residential first mortgages	$	40,482	$	2,577	$	168
Home equity loans	8,635		1,079		332
Total	$	49,117	$	3,656	$	500



LTV distribution in U.S. portfolio⁽¹⁾⁽²⁾	December 31, 2018
In millions of dollars	Less than or equal to 80%		> 80% but less than or equal to 100%		Greater than 100%
Residential first mortgages	$	42,379	$	2,474	$	197
Home equity loans	9,465		1,287		390
Total	$	51,844	$	3,761	$	587


(1)	Excludes loans guaranteed by U.S. government entities, loans subject to LTSCs with U.S. government-sponsored entities and loans recorded at fair value.

(2)

Excludes balances where LTV was not available. Such amounts are not material.

The following tables provide details on the FICO scores for Citi’s U.S. consumer loan portfolio based on end-of-period receivables (commercial banking loans are excluded from the table since they are business based and FICO scores are not a primary driver in their credit evaluation). FICO scores are updated monthly for substantially all of the portfolio or, otherwise, on a quarterly basis for the remaining portfolio.



FICO score distribution in U.S. portfolio⁽¹⁾⁽²⁾	June 30, 2019
In millions of dollars	Less than 680		680 to 760		Greater than 760
Residential first mortgages	$	3,803	$	12,699	$	26,618
Home equity loans	2,172		3,920		3,994
Credit cards	31,445		57,173		49,715
Installment and other	602		967		1,078
Total	$	38,022	$	74,759	$	81,405



FICO score distribution in U.S. portfolio⁽¹⁾⁽²⁾	December 31, 2018
In millions of dollars	Less than 680		680 to 760		Greater than 760
Residential first mortgages	$	4,530	$	13,848	$	26,546
Home equity loans	2,438		4,296		4,471
Credit cards	32,686		58,722		51,299
Installment and other	625		1,097		1,121
Total	$	40,279	$	77,963	$	83,437


(1)	Excludes loans guaranteed by U.S. government entities, loans subject to long-term standby commitments (LTSC) with U.S. government-sponsored entities and loans recorded at fair value.

(2)

Excludes balances where FICO was not available. Such amounts are not material.

Schedule of impaired loans

The following tables present information about impaired consumer loans and interest income recognized on impaired consumer loans:



									Three Months Ended June 30,				Six Months Ended June 30,
	Balance at June 30, 2019								2019		2018		2019		2018
In millions of dollars	Recorded investment⁽¹⁾⁽²⁾		Unpaid principal balance		Related specific allowance⁽³⁾		Average carrying value⁽⁴⁾		Interest income recognized⁽⁵⁾		Interest income recognized⁽⁵⁾		Interest income recognized⁽⁵⁾		Interest income recognized⁽⁵⁾
Mortgage and real estate
Residential first mortgages	$	2,022	$	2,222	$	219	$	2,133	$	18	$	21	$	35	$	42
Home equity loans	652		914		124		678		2		2		4		8
Credit cards	1,873		1,892		711		1,838		26		25		52		55
Installment and other
Individual installment and other	400		431		142		401		6		6		11		12
Commercial banking	365		534		35		316		7		5		10		8
Total	$	5,312	$	5,993	$	1,231	$	5,366	$	59	$	59	$	112	$	125


(1)	Recorded investment in a loan includes net deferred loan fees and costs, unamortized premium or discount and direct write-downs and includes accrued interest only on credit card loans.


(2)	$414 million of residential first mortgages, $245 million of home equity loans and $9 million of commercial market loans do not have a specific allowance.

(3) Included in the Allowance for loan losses.


(4)	Average carrying value represents the average recorded investment ending balance for the last four quarters and does not include the related specific allowance.

(5) Includes amounts recognized on both an accrual and cash basis.



	Balance at December 31, 2018
In millions of dollars	Recorded investment⁽¹⁾⁽²⁾		Unpaid principal balance		Related specific allowance⁽³⁾		Average carrying value⁽⁴⁾
Mortgage and real estate
Residential first mortgages	$	2,130	$	2,329	$	178	$	2,483
Home equity loans	684		946		122		698
Credit cards	1,818		1,842		677		1,815
Installment and other
Individual installment and other	400		434		146		414
Commercial banking	252		432		55		286
Total	$	5,284	$	5,983	$	1,178	$	5,696


(1)	Recorded investment in a loan includes net deferred loan fees and costs, unamortized premium or discount and direct write-downs and includes accrued interest only on credit card loans.


(2)	$484 million of residential first mortgages, $263 million of home equity loans and $2 million of commercial market loans do not have a specific allowance.


(3)	Included in the Allowance for loan losses.

(4)

Average carrying value represents the average recorded investment ending balance for the last four quarters and does not include the related specific allowance.

Schedule of troubled debt restructurings

Consumer Troubled Debt Restructurings



	For the Three Months Ended June 30, 2019
In millions of dollars, except number of loans modified	Number of loans modified	Post- modification recorded investment⁽¹⁾⁽²⁾		Deferred principal⁽³⁾		Contingent principal forgiveness⁽⁴⁾		Principal forgiveness⁽⁵⁾		Average interest rate reduction
North America
Residential first mortgages	137	$	21	$	—	$	—	$	—	—	%
Home equity loans	188	22		1		—		—		1
Credit cards	63,281	273		—		—		—		17
Installment and other revolving	340	3		—		—		—		6
Commercial banking⁽⁶⁾	12	10		—		—		—		—
Total⁽⁸⁾	63,958	$	329	$	1	$	—	$	—
International
Residential first mortgages	638	$	17	$	—	$	—	$	—	—	%
Credit cards	18,453	73		—		—		3		16
Installment and other revolving	7,073	44		—		—		2		10
Commercial banking⁽⁶⁾	89	9		—		—		—		—
Total⁽⁸⁾	26,253	$	143	$	—	$	—	$	5



	For the Three Months Ended June 30, 2018
In millions of dollars, except number of loans modified	Number of loans modified	Post- modification recorded investment⁽¹⁾⁽⁷⁾		Deferred principal⁽³⁾		Contingent principal forgiveness⁽⁴⁾		Principal forgiveness⁽⁵⁾		Average interest rate reduction
North America
Residential first mortgages	495	$	77	$	1	$	—	$	—	—	%
Home equity loans	380	37		1		—		—		1
Credit cards	55,459	220		—		—		—		17
Installment and other revolving	292	2		—		—		—		5
Commercial banking⁽⁶⁾	17	1		—		—		—		—
Total⁽⁸⁾	56,643	$	337	$	2	$	—	$	—
International
Residential first mortgages	624	$	22	$	—	$	—	$	—	—	%
Credit cards	17,782	78		—		—		2		16
Installment and other revolving	7,172	43		—		—		2		11
Commercial banking⁽⁶⁾	157	22		—		—		—		—
Total⁽⁸⁾	25,735	$	165	$	—	$	—	$	4


(1)	Post-modification balances include past due amounts that are capitalized at the modification date.

(2)

Post-modification balances in North America include $5 million of residential first mortgages and $2 million of home equity loans to borrowers who have gone through Chapter 7 bankruptcy in the three months ended June 30, 2019. These amounts include $3 million of residential first mortgages and $1 million of home equity loans that were newly classified as TDRs in the three months ended June 30, 2019, based on previously received OCC guidance.


(3)	Represents portion of contractual loan principal that is non-interest bearing, but still due from the borrower. Such deferred principal is charged off at the time of permanent modification to the extent that the related loan balance exceeds the underlying collateral value.


(4)	Represents portion of contractual loan principal that is non-interest bearing and, depending upon borrower performance, eligible for forgiveness.


(5)	Represents portion of contractual loan principal that was forgiven at the time of permanent modification.


(6)	Commercial banking loans are generally borrower-specific modifications and incorporate changes in the amount and/or timing of principal and/or interest.

(7)

Post-modification balances in North America include $8 million of residential first mortgages and $3 million of home equity loans to borrowers who have gone through Chapter 7 bankruptcy in the three months ended June 30, 2018. These amounts include $5 million of residential first mortgages and $3 million of home equity loans that were newly classified as TDRs in the three months ended June 30, 2018, based on previously received OCC guidance.


(8)	The above tables reflect activity for loans outstanding that were considered TDRs as of the end of the reporting period.



	For the Six Months Ended June 30, 2019
In millions of dollars, except number of loans modified	Number of loans modified	Post- modification recorded investment⁽¹⁾⁽²⁾		Deferred principal⁽³⁾		Contingent principal forgiveness⁽⁴⁾		Principal forgiveness⁽⁵⁾		Average interest rate reduction
North America
Residential first mortgages	630	$	95	$	—	$	—	$	—	—	%
Home equity loans	394	42		2		—		—		1
Credit cards	135,528	578		—		—		—		17
Installment and other revolving	691	6		—		—		—		6
Commercial banking⁽⁶⁾	27	48		—		—		—		—
Total⁽⁸⁾	137,270	$	769	$	2	$	—	$	—
International
Residential first mortgages	1,363	$	37	$	—	$	—	$	—	—	%
Credit cards	36,946	148		—		—		6		16
Installment and other revolving	14,625	88		—		—		3		10
Commercial banking⁽⁶⁾	188	41		—		—		—		—
Total⁽⁸⁾	53,122	$	314	$	—	$	—	$	9



	For the Six Months Ended June 30, 2018
In millions of dollars, except number of loans modified	Number of loans modified	Post- modification recorded investment⁽¹⁾⁽⁷⁾		Deferred principal⁽³⁾		Contingent principal forgiveness⁽⁴⁾		Principal forgiveness⁽⁵⁾		Average interest rate reduction
North America
Residential first mortgages	1,083	$	166	$	1	$	—	$	—	—	%
Home equity loans	836	78		3		—		—		1
Credit cards	118,662	464		—		—		—		17
Installment and other revolving	634	5		—		—		—		5
Commercial banking⁽⁶⁾	26	2		—		—		—		—
Total⁽⁸⁾	121,241	$	715	$	4	$	—	$	—
International
Residential first mortgages	1,173	$	41	$	—	$	—	$	—	—	%
Credit cards	41,176	173		—		—		5		16
Installment and other revolving	16,497	102		—		—		4		10
Commercial banking⁽⁶⁾	302	50		—		—		—		1
Total⁽⁸⁾	59,148	$	366	$	—	$	—	$	9


(1)	Post-modification balances include past due amounts that are capitalized at the modification date.

(2)

Post-modification balances in North America include $12 million of residential first mortgages and $4 million of home equity loans to borrowers who have gone through Chapter 7 bankruptcy in the six months ended June 30, 2019. These amounts include $7 million of residential first mortgages and $3 million of home equity loans that were newly classified as TDRs in the six months ended June 30, 2019, based on previously received OCC guidance.


(3)	Represents portion of contractual loan principal that is non-interest bearing, but still due from the borrower. Such deferred principal is charged off at the time of permanent modification to the extent that the related loan balance exceeds the underlying collateral value.


(4)	Represents portion of contractual loan principal that is non-interest bearing and, depending upon borrower performance, eligible for forgiveness.


(5)	Represents portion of contractual loan principal that was forgiven at the time of permanent modification.


(6)	Commercial banking loans are generally borrower-specific modifications and incorporate changes in the amount and/or timing of principal and/or interest.

(7)

Post-modification balances in North America include $19 million of residential first mortgages and $7 million of home equity loans to borrowers who have gone through Chapter 7 bankruptcy in the six months ended June 30, 2018. These amounts include $13 million of residential first mortgages and $6 million of home equity loans that were newly classified as TDRs in the six months ended June 30, 2018, based on previously received OCC guidance.

(8)

The above tables reflect activity for loans outstanding that were considered TDRs as of the end of the reporting period.

Schedule of troubled debt restructuring loans that defaulted

The following table presents consumer TDRs that defaulted for which the payment default occurred within one year of a permanent modification. Default is defined as 60 days past due, except for classifiably managed commercial banking loans, where default is defined as 90 days past due.



	Three Months Ended June 30,				Six Months Ended June 30,
In millions of dollars	2019		2018		2019		2018
North America
Residential first mortgages	$	26	$	30	$	50	$	74
Home equity loans	4		6		7		16
Credit cards	73		57		144		116
Installment and other revolving	1		1		2		1
Commercial banking	1		13		1		21
Total	$	105	$	107	$	204	$	228
International
Residential first mortgages	$	4	$	2	$	7	$	4
Credit cards	36		55		75		108
Installment and other revolving	19		20		37		44
Commercial banking	2		9		2		10
Total	$	61	$	86	$	121	$	166

Corporate

Loans receivable

Schedule of loans

The following table presents information by corporate loan type:



In millions of dollars	June 30, 2019		December 31, 2018
In North America offices⁽¹⁾
Commercial and industrial	$	54,519	$	52,063
Financial institutions	47,610		48,447
Mortgage and real estate⁽²⁾	51,321		50,124
Installment, revolving credit and other	33,555		32,425
Lease financing	1,385		1,429
Total	$	188,390	$	184,488
In offices outside North America⁽¹⁾
Commercial and industrial	$	98,351	$	94,701
Financial institutions	37,523		36,837
Mortgage and real estate⁽²⁾	7,577		7,376
Installment, revolving credit and other	27,333		25,684
Lease financing	92		103
Governments and official institutions	3,409		4,520
Total	$	174,285	$	169,221
Corporate loans, net of unearned income⁽³⁾	$	362,675	$	353,709


(1)	North America includes the U.S., Canada and Puerto Rico. Mexico is included in offices outside North America.


(2)	Loans secured primarily by real estate.

(3)

Corporate loans are net of unearned income of ($815) million and ($822) million at June 30, 2019 and December 31, 2018, respectively. Unearned income on corporate loans primarily represents interest received in advance, but not yet earned, on loans originated on a discounted basis.

Schedule of loan delinquency and non-accrual details

Corporate Loan Delinquency and Non-Accrual Details at June 30, 2019



In millions of dollars	30–89 days past due and accruing⁽¹⁾		≥ 90 days past due and accruing⁽¹⁾		Total past due and accruing		Total non-accrual⁽²⁾		Total current⁽³⁾		Total loans⁽⁴⁾
Commercial and industrial	$	473	$	32	$	505	$	1,064	$	149,418	$	150,987
Financial institutions	245		15		260		36		82,983		83,279
Mortgage and real estate	234		4		238		204		58,438		58,880
Lease financing	—		19		19		—		1,458		1,477
Other	159		56		215		106		63,927		64,248
Loans at fair value											3,804
Total	$	1,111	$	126	$	1,237	$	1,410	$	356,224	$	362,675

Corporate Loan Delinquency and Non-Accrual Details at December 31, 2018



In millions of dollars	30–89 days past due and accruing⁽¹⁾		≥ 90 days past due and accruing⁽¹⁾		Total past due and accruing		Total non-accrual⁽²⁾		Total current⁽³⁾		Total loans⁽⁴⁾
Commercial and industrial	$	365	$	42	$	407	$	919	$	143,960	$	145,286
Financial institutions	87		7		94		102		83,672		83,868
Mortgage and real estate	128		5		133		215		57,116		57,464
Lease financing	5		10		15		—		1,516		1,531
Other	151		52		203		75		62,079		62,357
Loans at fair value											3,203
Total	$	736	$	116	$	852	$	1,311	$	348,343	$	353,709


(1)	Corporate loans that are 90 days past due are generally classified as non-accrual. Corporate loans are considered past due when principal or interest is contractually due but unpaid.


(2)	Non-accrual loans generally include those loans that are 90 days or more past due or those loans for which Citi believes, based on actual experience and a forward-looking assessment of the collectability of the loan in full, that the payment of interest and/or principal is doubtful.


(3)	Loans less than 30 days past due are presented as current.

(4)

Total loans include loans at fair value, which are not included in the various delinquency columns.

Schedule of loans credit quality indicators

Corporate Loans Credit Quality Indicators



	Recorded investment in loans⁽¹⁾
In millions of dollars	June 30, 2019		December 31, 2018
Investment grade⁽²⁾
Commercial and industrial	$	106,432	$	102,722
Financial institutions	72,625		73,080
Mortgage and real estate	26,569		25,855
Lease financing	945		1,036
Other	56,651		57,299
Total investment grade	$	263,222	$	259,992
Non-investment grade⁽²⁾
Accrual
Commercial and industrial	$	43,491	$	41,645
Financial institutions	10,618		10,686
Mortgage and real estate	3,222		3,793
Lease financing	532		496
Other	7,491		4,981
Non-accrual
Commercial and industrial	1,064		919
Financial institutions	36		102
Mortgage and real estate	204		215
Lease financing	—		—
Other	106		75
Total non-investment grade	$	66,764	$	62,912
Non-rated private bank loans managed on a delinquency basis⁽²⁾	$	28,885	$	27,602
Loans at fair value	3,804		3,203
Corporate loans, net of unearned income	$	362,675	$	353,709


(1)	Recorded investment in a loan includes net deferred loan fees and costs, unamortized premium or discount, less any direct write-downs.

(2)

Held-for-investment loans are accounted for on an amortized cost basis.

Schedule of impaired loans

The following tables present non-accrual loan information by corporate loan type and interest income recognized on non-accrual corporate loans:



	June 30, 2019								Three Months Ended June 30, 2019		Six Months Ended June 30, 2019
In millions of dollars	Recorded investment⁽¹⁾		Unpaid principal balance		Related specific allowance		Average carrying value⁽²⁾		Interest income recognized⁽³⁾		Interest income recognized⁽³⁾
Non-accrual corporate loans
Commercial and industrial	$	1,064	$	1,320	$	138	$	1,071	$	1	$	15
Financial institutions	36		57		9		76		—		—
Mortgage and real estate	204		416		16		215		—		—
Lease financing	—		—		—		—		—		—
Other	106		193		40		74		—		—
Total non-accrual corporate loans	$	1,410	$	1,986	$	203	$	1,436	$	1	$	15



	December 31, 2018
In millions of dollars	Recorded investment⁽¹⁾		Unpaid principal balance		Related specific allowance		Average carrying value⁽²⁾
Non-accrual corporate loans
Commercial and industrial	$	919	$	1,070	$	183	$	1,099
Financial institutions	102		123		35		99
Mortgage and real estate	215		323		39		233
Lease financing	—		28		—		21
Other	75		165		6		83
Total non-accrual corporate loans	$	1,311	$	1,709	$	263	$	1,535



	June 30, 2019				December 31, 2018
In millions of dollars	Recorded investment⁽¹⁾		Related specific allowance		Recorded investment⁽¹⁾		Related specific allowance
Non-accrual corporate loans with valuation allowances
Commercial and industrial	$	452	$	138	$	603	$	183
Financial institutions	10		9		76		35
Mortgage and real estate	81		16		100		39
Lease financing	—		—		—		—
Other	73		40		24		6
Total non-accrual corporate loans with specific allowance	$	616	$	203	$	803	$	263
Non-accrual corporate loans without specific allowance
Commercial and industrial	$	612			$	316
Financial institutions	26				26
Mortgage and real estate	123				115
Lease financing	—				—
Other	33				51
Total non-accrual corporate loans without specific allowance	$	794	N/A		$	508	N/A


(1)	Recorded investment in a loan includes net deferred loan fees and costs, unamortized premium or discount, less any direct write-downs.


(2)	Average carrying value represents the average recorded investment balance and does not include related specific allowance.


(3)	Interest income recognized for the three and six months ended June 30, 2018 was $13 million and $17 million, respectively.

N/A Not applicable

Schedule of troubled debt restructurings

For the three months ended June 30, 2019:



In millions of dollars	Carrying value of TDRs modified during the period		TDRs involving changes in the amount and/or timing of principal payments⁽¹⁾		TDRs involving changes in the amount and/or timing of interest payments⁽²⁾		TDRs involving changes in the amount and/or timing of both principal and interest payments
Commercial and industrial	$	42	$	19	$	—	$	23
Mortgage and real estate	3		—		—		3
Other	6		6		—		—
Total	$	51	$	25	$	—	$	26

For the three months ended June 30, 2018:



In millions of dollars	Carrying value of TDRs modified during the period		TDRs involving changes in the amount and/or timing of principal payments⁽¹⁾		TDRs involving changes in the amount and/or timing of interest payments⁽²⁾		TDRs involving changes in the amount and/or timing of both principal and interest payments
Commercial and industrial	$	39	$	3	$	4	$	32
Mortgage and real estate	2		—		—		2
Total	$	41	$	3	$	4	$	34

For the six months ended June 30, 2019:



In millions of dollars	Carrying value of TDRs modified during the period		TDRs involving changes in the amount and/or timing of principal payments⁽¹⁾		TDRs involving changes in the amount and/or timing of interest payments⁽²⁾		TDRs involving changes in the amount and/or timing of both principal and interest payments
Commercial and industrial	$	58	$	19	$	—	$	39
Mortgage and real estate	7		—		—		7
Other	6		6		—		—
Total	$	71	$	25	$	—	$	46

For the six months ended June 30, 2018:



In millions of dollars	Carrying value of TDRs modified during the period		TDRs involving changes in the amount and/or timing of principal payments⁽¹⁾		TDRs involving changes in the amount and/or timing of interest payments⁽²⁾		TDRs involving changes in the amount and/or timing of both principal and interest payments
Commercial and industrial	$	41	$	3	$	4	$	34
Mortgage and real estate	3		—		—		3
Total	$	44	$	3	$	4	$	37

(1)

TDRs involving changes in the amount or timing of principal payments may involve principal forgiveness or deferral of periodic and/or final principal payments. Because forgiveness of principal is rare for corporate loans, modifications typically have little to no impact on the loans’ projected cash flows and thus little to no impact on the allowance established for the loans. Charge-offs for amounts deemed uncollectable may be recorded at the time of the restructuring or may have already been recorded in prior periods such that no charge-off is required at the time of the modification.

(2)

TDRs involving changes in the amount or timing of interest payments may involve a below-market interest rate.

Schedule of troubled debt restructuring loans that defaulted

The following table presents total corporate loans modified in a TDR as well as those TDRs that defaulted and for which the payment default occurred within one year of a permanent modification. Default is defined as 60 days past due, except for classifiably managed commercial banking loans, where default is defined as 90 days past due.



			TDR loans in payment default						TDR loans in payment default
In millions of dollars	TDR balances at June 30, 2019		Three Months Ended June 30, 2019		Six Months Ended June 30, 2019		TDR balances at June 30, 2018		Three Months Ended June 30, 2018		Six Months Ended June 30, 2018
Commercial and industrial	$	424	$	19	$	19	$	440	$	11	$	70
Financial institutions	10		—		—		34		—		—
Mortgage and real estate	112		—		—		87		—		—
Other	6		—		—		37		—		—
Total⁽¹⁾	$	552	$	19	$	19	$	598	$	11	$	70

(1)

The above table reflects activity for loans outstanding that were considered TDRs as of the end of the reporting period.