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

3 Months Ended

Mar. 31, 2021

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 March 31,
	2021
In millions of dollars	ICG		GCB		Corporate/Other		Total
Investment banking	$	1,624	$	—	$	—	$	1,624
Brokerage commissions	615		327		—		942
Credit- and bank-card income
Interchange fees	158		1,906		—		2,064
Card-related loan fees	5		177		—		182
Card rewards and partner payments(1)	(75)		(2,096)		—		(2,171)
Deposit-related fees(2)	244		85		—		329
Transactional service fees	241		24		—		265
Corporate finance(3)	158		—		—		158
Insurance distribution revenue	5		130		—		135
Insurance premiums	—		20		—		20
Loan servicing	12		7		4		23
Other	41		58		—		99
Total commissions and fees(4)	$	3,028	$	638	$	4	$	3,670

	Three Months Ended March 31,
	2020
In millions of dollars	ICG		GCB		Corporate/Other		Total
Investment banking	$	1,040	$	—	$	—	$	1,040
Brokerage commissions	577		249		—		826
Credit- and bank-card income
Interchange fees	261		1,917		—		2,178
Card-related loan fees	11		166		—		177
Card rewards and partner payments(1)	(149)		(2,093)		—		(2,242)
Deposit-related fees(2)	233		115		—		348
Transactional service fees	227		24		—		251
Corporate finance(3)	146		—		—		146
Insurance distribution revenue	4		125		—		129
Insurance premiums	—		43		—		43
Loan servicing	20		11		8		39
Other	30		56		—		86
Total commissions and fees(4)	$	2,400	$	613	$	8	$	3,021

(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 $24 million and $31 million for the three months ended March 31, 2021 and 2020, 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 $(1,749) million and $(1,802) million not accounted for under ASC 606, Revenue from Contracts with Customers, for the three months ended March 31, 2021 and 2020, 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 March 31,
	2021
In millions of dollars	ICG		GCB		Corporate/Other		Total
Custody fees	$	451	$	6	$	—	$	457
Fiduciary fees	192		167		—		359
Guarantee fees	142		2		1		145
Total administration and other fiduciary fees(1)	$	785	$	175	$	1	$	961

	Three Months Ended March 31,
	2020
In millions of dollars	ICG		GCB		Corporate/Other		Total
Custody fees	$	366	$	8	$	15	$	389
Fiduciary fees	172		156		—		328
Guarantee fees	134		2		1		137
Total administration and other fiduciary fees(1)	$	672	$	166	$	16	$	854

(1)    Administration and other fiduciary fees includes $145 million and $136 million for the three months ended March 31, 2021 and 2020, respectively, that are not accounted for under ASC 606, Revenue from Contracts with Customers. These amounts include guarantee fees.