GUARANTEES, LEASES AND COMMITMENTS (Tables)

9 Months Ended

Sep. 30, 2020

Guarantees, Leases And Commitments [Abstract]

Schedule of guarantor obligations

The following tables present information about Citi’s guarantees at September 30, 2020 and December 31, 2019:

	Maximum potential amount of future payments
In billions of dollars at September 30, 2020	Expire within 1 year		Expire after 1 year		Total amount outstanding		Carrying value  (in millions of dollars)
Financial standby letters of credit	$	23.8	$	67.7	$	91.5	$	1,201
Performance guarantees	7.1		5.8		12.9		88
Derivative instruments considered to be guarantees	20.2		53.7		73.9		925
Loans sold with recourse	—		1.2		1.2		6
Securities lending indemnifications(1)	102.0		—		102.0		—
Credit card merchant processing(1)(2)	96.6		—		96.6		4
Credit card arrangements with partners	—		1.1		1.1		7
Custody indemnifications and other	—		34.7		34.7		40
Total	$	249.7	$	164.2	$	413.9	$	2,271

	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	$	61.4	$	93.3	$	581
Performance guarantees	6.9		5.5		12.4		36
Derivative instruments considered to be guarantees	35.2		60.8		96.0		474
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	$	253.6	$	163.0	$	416.6	$	1,162

(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, 2020 and December 31, 2019, this maximum potential exposure was estimated to be $97 billion and $92 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 on 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, 2020	Investment grade		Non-investment grade		Not rated		Total
Financial standby letters of credit	$	76.3	$	14.9	$	0.3	$	91.5
Performance guarantees	9.2		3.3		0.4		12.9
Derivative instruments deemed to be guarantees	—		—		73.9		73.9
Loans sold with recourse	—		—		1.2		1.2
Securities lending indemnifications	—		—		102.0		102.0
Credit card merchant processing	—		—		96.6		96.6
Credit card arrangements with partners	—		—		1.1		1.1
Custody indemnifications and other	22.4		12.3		—		34.7
Total	$	107.9	$	30.5	$	275.5	$	413.9

	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	$	81.2	$	11.6	$	0.5	$	93.3
Performance guarantees	9.7		2.3		0.4		12.4
Derivative instruments deemed to be guarantees	—		—		96.0		96.0
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	$	112.2	$	26.3	$	278.1	$	416.6

Schedule of credit commitments

The table below summarizes Citigroup’s credit commitments:

In millions of dollars	U.S.		Outside of  U.S.		September 30, 2020		December 31, 2019
Commercial and similar letters of credit	$	643	$	3,933	$	4,576	$	4,533
One- to four-family residential mortgages	3,298		2,106		5,404		3,721
Revolving open-end loans secured by one- to four-family residential properties	8,622		1,286		9,908		10,799
Commercial real estate, construction and land development	12,126		1,664		13,790		12,981
Credit card lines	612,777		99,085		711,862		708,023
Commercial and other consumer loan commitments	201,036		113,013		314,049		324,359
Other commitments and contingencies	2,270		602		2,872		1,948
Total	$	840,772	$	221,689	$	1,062,461	$	1,066,364

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, 2020		December 31, 2019
Cash and due from banks	$	3,055	$	3,758
Deposits with banks, net of allowance	12,233		26,493
Total	$	15,288	$	30,251