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FAIR VALUE ELECTIONS (Tables)
 12 Months Ended
Dec. 31, 2020
Fair Value, Option, Aggregate Differences [Abstract]  
Schedule of financial instruments selected for changes in fair value gains and losses
The following table presents the changes in fair value of those items for which the fair value option has been elected:
Changes in fair value—gains (losses)
for the years ended December 31,
 
In millions of dollars20202019
Assets
Securities borrowed and purchased under agreements to resell $— $6 
Trading account assets(136)77 
Investments— — 
Loans
Certain corporate loans
2,486 (222)
Certain consumer loans1 — 
Total loans$2,487 $(222)
Other assets
MSRs$(204)$(84)
Certain mortgage loans HFS(1)
299 91 
Total other assets$95 $7 
Total assets$2,446 $(132)
Liabilities
Interest-bearing deposits$(154)$(205)
Securities loaned and sold under agreements to repurchase (559)386 
Trading account liabilities(1)27 
Short-term borrowings(2)
802 (78)
Long-term debt(2)
(2,700)(5,174)
Total liabilities$(2,612)$(5,044)
(1)    Includes gains (losses) associated with interest rate lock commitments for those loans that have been originated and elected under the fair value option.
(2)     Includes DVA that is included in AOCI. See Notes 19 and 24 to the Consolidated Financial Statements.
Schedule of fair value of loans and other disclosures for certain credit related products
The following table provides information about certain credit products carried at fair value:
 December 31, 2020December 31, 2019
In millions of dollarsTrading assetsLoansTrading assetsLoans
Carrying amount reported on the Consolidated Balance Sheet$8,063 $6,854 $8,320 $4,086 
Aggregate unpaid principal balance in excess of (less than) fair value(915)(14)410 315 
Balance of non-accrual loans or loans more than 90 days past due— 4 — 1 
Aggregate unpaid principal balance in excess of (less than) fair value for non-accrual loans or loans more than 90 days past due— — — — 
Schedule of fair value of loans and other disclosures for certain mortgage loans
The following table provides information about certain mortgage loans HFS carried at fair value:
In millions of dollarsDecember 31,
2020		December 31, 2019
Carrying amount reported on the Consolidated Balance Sheet$1,742 $1,254 
Aggregate fair value in excess of (less than) unpaid principal balance91 (31)
Balance of non-accrual loans or loans more than 90 days past due— 1 
Aggregate unpaid principal balance in excess of fair value for non-accrual loans or loans more than 90 days past due— — 
Schedule of carrying value of structured notes, disaggregated by type of embedded derivative instrument
The following table provides information about the carrying value of structured notes, disaggregated by type of embedded derivative instrument:
In billions of dollarsDecember 31, 2020December 31, 2019
Interest rate linked$16.0 $22.6 
Foreign exchange linked1.2 0.7 
Equity linked27.3 23.7 
Commodity linked1.4 1.8 
Credit linked2.6 0.9 
Total$48.5 $49.7 
Schedule of long-term debt carried at fair value, excluding debt issued by consolidated VIEs
The following table provides information about long-term debt carried at fair value:
In millions of dollarsDecember 31, 2020December 31, 2019
Carrying amount reported on the Consolidated Balance Sheet$67,063 $55,783 
Aggregate unpaid principal balance in excess of (less than) fair value(5,130)(2,967)
Schedule of short-term borrowings carried at fair value
The following table provides information about short-term borrowings carried at fair value:
In millions of dollarsDecember 31, 2020December 31, 2019
Carrying amount reported on the Consolidated Balance Sheet$4,683 $4,946 
Aggregate unpaid principal balance in excess of (less than) fair value68 1,411