COMMISSIONS AND FEES; ADMINISTRATION AND OTHER FIDUCIARY FEES (Tables)

9 Months Ended

Sep. 30, 2020

Other Income and Expenses [Abstract]

Schedule of commissions, fees, administration and other fiduciary fees revenue

The following tables present Commissions and fees revenue:

	Three Months Ended September 30,								Nine Months Ended September 30,
	2020								2020
In millions of dollars	ICG		GCB		Corporate/Other		Total		ICG		GCB		Corporate/Other		Total
Investment banking	$	1,076	$	—	$	—	$	1,076	$	3,474	$	—	$	—	$	3,474
Brokerage commissions	486		260		—		746		1,545		713		—		2,258
Credit- and bank-card income
Interchange fees	158		1,842		—		2,000		542		5,264		—		5,806
Card-related loan fees	4		157		—		161		18		455		—		473
Card rewards and partner      payments(1)	(73)		(2,073)		—		(2,146)		(292)		(5,911)		—		(6,203)
Deposit-related fees(2)	246		79		—		325		699		279		—		978
Transactional service fees	217		20		—		237		659		64		—		723
Corporate finance(3)	77		—		—		77		372		—		—		372
Insurance distribution revenue	4		129		—		133		9		367		—		376
Insurance premiums	—		25		—		25		—		99		—		99
Loan servicing	16		4		10		30		54		26		20		100
Other	34		55		—		89		91		157		3		251
Total commissions and fees(4)	$	2,245	$	498	$	10	$	2,753	$	7,171	$	1,513	$	23	$	8,707

	Three Months Ended September 30,								Nine Months Ended September 30,
	2019								2019
In millions of dollars	ICG		GCB		Corporate/Other		Total		ICG		GCB		Corporate/Other		Total
Investment banking	$	900	$	—	$	—	$	900	$	2,755	$	—	$	—	$	2,755
Brokerage commissions	456		228		—		684		1,365		625		—		1,990
Credit- and bank-card income
Interchange fees	326		2,179		—		2,505		919		6,359		—		7,278
Card-related loan fees	15		191		—		206		44		534		—		578
Card rewards and partner     payments(1)	(192)		(2,252)		—		(2,444)		(520)		(6,590)		—		(7,110)
Deposit-related fees(2)	272		119		—		391		800		361		—		1,161
Transactional service fees	194		30		—		224		594		90		—		684
Corporate finance(3)	129		—		—		129		459		—		—		459
Insurance distribution revenue	4		137		—		141		10		398		—		408
Insurance premiums	—		41		—		41		—		133		—		133
Loan servicing	1		11		7		19		51		41		16		108
Other	39		70		1		110		69		198		2		269
Total commissions and fees(4)	$	2,144	$	754	$	8	$	2,906	$	6,546	$	2,149	$	18	$	8,713

(1)Citi’s consumer credit card programs have certain partner-sharing agreements that vary by partner. These agreements are subject to contractually based performance thresholds that, if met, would require Citi to make ongoing payments to the partner. The threshold is based on the profitability of a program and is generally calculated based on predefined program revenues less predefined program expenses. In most of Citi’s partner-sharing agreements, program expenses include net credit losses and, to the extent that the increase in net credit losses reduces Citi’s liability for the partners’ share for a given program year, would generally result in lower payments to partners in total for that year and vice versa. Further, in some instances, other partner payments are based on program sales and new account acquisitions.

(2)Includes overdraft fees of $23 million and $33 million for the three months ended September 30, 2020 and 2019, respectively, and $74 million and $94 million for the nine months ended September 30, 2020 and 2019, respectively. Overdraft fees are accounted for under ASC 310.

(3)Consists primarily of fees earned from structuring and underwriting loan syndications or related financing activity. This activity is accounted for under ASC 310.

(4)Commissions and fees includes $(1,816) million and $(2,009) million not accounted for under ASC 606, Revenue from Contracts with Customers, for the three months ended September 30, 2020 and 2019, respectively, and $(5,044) million and $(5,728) million for the nine months ended September 30, 2020 and 2019, respectively. Amounts reported in Commissions and fees accounted for under other guidance primarily include card-related loan fees, card reward programs and certain partner payments, corporate finance fees, insurance premiums and loan servicing fees.

The following table presents Administration and other fiduciary fees revenue:

	Three Months Ended September 30,								Nine Months Ended September 30,
	2020								2020
In millions of dollars	ICG		GCB		Corporate/Other		Total		ICG		GCB		Corporate/Other		Total
Custody fees	$	427	$	8	$	2	$	437	$	1,165	$	22	$	38	$	1,225
Fiduciary fees	167		153		—		320		497		441		—		938
Guarantee fees	132		2		1		135		393		5		4		402
Total administration and other fiduciary fees(1)	$	726	$	163	$	3	$	892	$	2,055	$	468	$	42	$	2,565

	Three Months Ended September 30,								Nine Months Ended September 30,
	2019								2019
In millions of dollars	ICG		GCB		Corporate/Other		Total		ICG		GCB		Corporate/Other		Total
Custody fees	$	370	$	5	$	20	$	395	$	1,117	$	12	$	54	$	1,183
Fiduciary fees	171		160		12		343		485		460		24		969
Guarantee fees	139		2		1		142		425		6		5		436
Total administration and other fiduciary fees(1)	$	680	$	167	$	33	$	880	$	2,027	$	478	$	83	$	2,588

(1)    Administration and other fiduciary fees includes $135 million and $142 million for the three months ended September 30, 2020 and 2019, respectively, and $402 million and $436 million for the nine months ended September 30, 2020 and 2019, respectively, that are not accounted for under ASC 606, Revenue from Contracts with Customers. These amounts include guarantee fees.