DEBT

9 Months Ended

Sep. 30, 2020

For additional information regarding Citi’s short-term borrowings and long-term debt, see Note 17 to the Consolidated Financial Statements in Citi’s 2019 Annual Report on Form 10-K.

Short-Term Borrowings


In millions of dollars	September 30, 2020		December 31, 2019
Commercial paper
Bank(1)	$	11,382	$	10,155
Broker-dealer and other(2)	7,969		6,321
Total commercial paper	$	19,351	$	16,476
Other borrowings(3)	18,088		28,573
Total	$	37,439	$	45,049

(1)Represents Citibank entities as well as other bank entities.

(2)Represents broker-dealer and other non-bank subsidiaries that are consolidated into Citigroup Inc., the parent holding company.

(3)Includes borrowings from Federal Home Loan Banks and other market participants. At September 30, 2020 and December 31, 2019, collateralized short-term advances from the Federal Home Loan Banks were $9.8 billion and $17.6 billion, respectively.

Long-Term Debt


In millions of dollars	September 30, 2020		December 31, 2019
Citigroup Inc.(1)	$	168,712	$	150,477
Bank(2)	48,786		53,340
Broker-dealer and other(3)	55,756		44,943
Total	$	273,254	$	248,760

(1)Represents the parent holding company.

(2)Represents Citibank entities as well as other bank entities. At September 30, 2020 and December 31, 2019, collateralized long-term advances from the Federal Home Loan Banks were $14.7 billion and $5.5 billion, respectively.

(3)Represents broker-dealer and other non-bank subsidiaries that are consolidated into Citigroup Inc., the parent holding company. Certain Citigroup consolidated hedging activities are also included in this line.

Long-term debt outstanding includes trust preferred securities with a balance sheet carrying value of $1.7 billion at both September 30, 2020 and December 31, 2019.

The following table summarizes Citi’s outstanding trust preferred securities at September 30, 2020:


								Junior subordinated debentures owned by trust
Trust	Issuance date	Securities issued	Liquidation value(1)		Coupon rate(2)		Common shares issued to parent	Amount		Maturity	Redeemable by issuer beginning
In millions of dollars, except securities and share amounts
Citigroup Capital III	Dec. 1996	194,053	$	194	7.625	%	6,003	$	200	Dec. 1, 2036	Not redeemable
Citigroup Capital XIII	Sept. 2010	89,840,000	2,246		3 mo. LIBOR + 637 bps		1,000	2,246		Oct. 30, 2040	Oct. 30, 2015
Citigroup Capital XVIII	Jun. 2007	99,901	129		3 mo. Sterling LIBOR + 88.75 bps		50	129		Jun. 28, 2067	Jun. 28, 2017
Total obligated			$	2,569				$	2,575

Note: Distributions on the trust preferred securities and interest on the subordinated debentures are payable semiannually for Citigroup Capital III and Citigroup Capital XVIII and quarterly for Citigroup Capital XIII.

(1)Represents the notional value received by outside investors from the trusts at the time of issuance. This differs from Citi’s balance sheet carrying value due primarily to unamortized discount and issuance costs.

(2)In each case, the coupon rate on the subordinated debentures is the same as that on the trust preferred securities.