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PLEDGED ASSETS, COLLATERAL, GUARANTEES AND COMMITMENTS (Tables)

12 Months Ended

Dec. 31, 2019

Pledged Assets, Collateral, Guarantees and Commitments [Abstract]

Schedule of carrying value of assets pledged

The approximate carrying values of the significant components of pledged assets recognized on Citi’s Consolidated Balance Sheet included the following:



In millions of dollars	December 31, 2019		December 31, 2018
Investment securities	$	152,352	$	148,756
Loans	236,033		227,840
Trading account assets	132,332		120,292
Total	$	520,717	$	496,888

Summary of restricted cash

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



In millions of dollars	December 31, 2019		December 31, 2018
Cash and due from banks	$	3,758	$	4,000
Deposits with banks	26,493		27,208
Total	$	30,251	$	31,208

Schedule of future minimum rental payments for operating leases after adoption

Citi’s cash outflows related to operating leases were $942 million for the year ended December 31, 2019, while the future lease payments are as follows:



In millions of dollars
2020	$	801
2021	695
2022	572
2023	425
2024	314
Thereafter	935
Total future lease payments	$	3,742
Less imputed interest (based on weighted-average discount rate of 3.6%)	$	(402	)
Lease liability	$	3,340

Schedule of future minimum rental payments for operating leases before adoption

The minimum annual rent commitments under non-cancelable leases, net of sublease income, as of December 31, 2018 prior to the adoption of ASU 2016-02, were as follows:



In millions of dollars
2019	$	925
2020	748
2021	657
2022	525
2023	394
Thereafter	1,890
Total lease commitments	$	5,139

Schedule of guarantor obligations

The following tables present information about Citi’s guarantees:



	Maximum potential amount of future payments
In billions of dollars at December 31, 2019	Expire within 1 year		Expire after 1 year		Total amount outstanding		Carrying value (in millions of dollars)
Financial standby letters of credit	$	31.9	$	62.4	$	94.3	$	140
Performance guarantees	6.9		5.5		12.4		21
Derivative instruments considered to be guarantees	37.5		60.1		97.6		289
Loans sold with recourse	—		1.2		1.2		7
Securities lending indemnifications⁽¹⁾	87.8		—		87.8		—
Credit card merchant processing⁽¹⁾⁽²⁾	91.6		—		91.6		—
Credit card arrangements with partners	0.2		0.4		0.6		23
Custody indemnifications and other	—		33.7		33.7		41
Total	$	255.9	$	163.3	$	419.2	$	521



	Maximum potential amount of future payments
In billions of dollars at December 31, 2018	Expire within 1 year		Expire after 1 year		Total amount outstanding		Carrying value (in millions of dollars)
Financial standby letters of credit	$	32.1	$	67.5	$	99.6	$	131
Performance guarantees	7.7		4.2		11.9		29
Derivative instruments considered to be guarantees	23.5		87.4		110.9		567
Loans sold with recourse	—		1.2		1.2		9
Securities lending indemnifications⁽¹⁾	98.3		—		98.3		—
Credit card merchant processing⁽¹⁾⁽²⁾	94.7		—		94.7		—
Credit card arrangements with partners	0.3		0.8		1.1		162
Custody indemnifications and other	—		35.4		35.4		41
Total	$	256.6	$	196.5	$	453.1	$	939


(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 December 31, 2019 and 2018, this maximum potential exposure was estimated to be $92 billion and $95 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 December 31, 2019	Investment grade		Non-investment grade		Not rated		Total
Financial standby letters of credit	$	66.4	$	12.5	$	15.4	$	94.3
Performance guarantees	9.7		2.3		0.4		12.4
Derivative instruments deemed to be guarantees	—		—		97.6		97.6
Loans sold with recourse	—		—		1.2		1.2
Securities lending indemnifications	—		—		87.8		87.8
Credit card merchant processing	—		—		91.6		91.6
Credit card arrangements with partners	—		—		0.6		0.6
Custody indemnifications and other	21.3		12.4		—		33.7
Total	$	97.4	$	27.2	$	294.6	$	419.2



	Maximum potential amount of future payments
In billions of dollars at December 31, 2018	Investment grade		Non-investment grade		Not rated		Total
Financial standby letters of credit	$	71.3	$	11.9	$	16.4	$	99.6
Performance guarantees	9.2		2.1		0.6		11.9
Derivative instruments deemed to be guarantees	—		—		110.9		110.9
Loans sold with recourse	—		—		1.2		1.2
Securities lending indemnifications	—		—		98.3		98.3
Credit card merchant processing	—		—		94.7		94.7
Credit card arrangements with partners	—		—		1.1		1.1
Custody indemnifications and other	22.2		13.2		—		35.4
Total	$	102.7	$	27.2	$	323.2	$	453.1

Schedule of credit commitments

The table below summarizes Citigroup’s credit commitments:



In millions of dollars	U.S.		Outside of U.S.		December 31, 2019		December 31, 2018
Commercial and similar letters of credit	$	746	$	3,787	$	4,533	$	5,461
One- to four-family residential mortgages	2,088		1,633		3,721		2,671
Revolving open-end loans secured by one- to four-family residential properties	9,511		1,288		10,799		11,374
Commercial real estate, construction and land development	10,623		2,358		12,981		11,293
Credit card lines	609,866		98,157		708,023		696,007
Commercial and other consumer loan commitments	212,569		111,790		324,359		300,115
Other commitments and contingencies	1,852		96		1,948		3,321
Total	$	847,255	$	219,109	$	1,066,364	$	1,030,242