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

6 Months Ended

Jun. 30, 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 June 30, 2021								Six Months Ended June 30, 2021
In millions of dollars	ICG		GCB		Corporate/Other		Total		ICG		GCB		Corporate/Other		Total
Investment banking	$	1,386	$	—	$	—	$	1,386	$	3,010	$	—	$	—	$	3,010
Brokerage commissions	528		293		—		821		1,143		620		—		1,763
Credit- and bank-card income
Interchange fees	197		2,273		—		2,470		355		4,179		—		4,534
Card-related loan fees	7		170		—		177		12		347		—		359
Card rewards and partner payments(1)	(104)		(2,411)		—		(2,515)		(179)		(4,507)		—		(4,686)
Deposit-related fees(2)	260		65		—		325		504		150		—		654
Transactional service fees	251		26		—		277		492		50		—		542
Corporate finance(3)	180		—		—		180		338		—		—		338
Insurance distribution revenue	1		112		—		113		6		242		—		248
Insurance premiums	—		30		—		30		—		50		—		50
Loan servicing	10		10		4		24		22		17		8		47
Other	27		56		3		86		68		114		3		185
Total commissions and fees(4)	$	2,743	$	624	$	7	$	3,374	$	5,771	$	1,262	$	11	$	7,044

	Three Months Ended June 30, 2020								Six Months Ended June 30, 2020
In millions of dollars	ICG		GCB		Corporate/Other		Total		ICG		GCB		Corporate/Other		Total
Investment banking	$	1,358	$	—	$	—	$	1,358	$	2,398	$	—	$	—	$	2,398
Brokerage commissions	482		204		—		686		1,059		453		—		1,512
Credit- and bank-card income
Interchange fees	123		1,505		—		1,628		384		3,422		—		3,806
Card-related loan fees	3		132		—		135		14		298		—		312
Card rewards and partner payments(1)	(70)		(1,745)		—		(1,815)		(219)		(3,838)		—		(4,057)
Deposit-related fees(2)	220		85		—		305		453		200		—		653
Transactional service fees	215		20		—		235		442		44		—		486
Corporate finance(3)	149		—		—		149		295		—		—		295
Insurance distribution revenue	1		113		—		114		5		238		—		243
Insurance premiums	—		31		—		31		—		74		—		74
Loan servicing	18		11		2		31		38		22		10		70
Other	27		46		3		76		57		102		3		162
Total commissions and fees(4)	$	2,526	$	402	$	5	$	2,933	$	4,926	$	1,015	$	13	$	5,954

(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 $20 million for the three months ended June 30, 2021 and 2020, respectively, and $47 million and $51 million for the six months ended June 30, 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 $(2,073) million and $(1,426) million not accounted for under ASC 606, Revenue from Contracts with Customers, for the three months ended June 30, 2021 and 2020, respectively, and $(3,822) million and $(3,228) million for the six months ended June 30, 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 tables present Administration and other fiduciary fees revenue:

	Three Months Ended June 30, 2021								Six Months Ended June 30, 2021
In millions of dollars	ICG		GCB		Corporate/Other		Total		ICG		GCB		Corporate/Other		Total
Custody fees	$	497	$	6	$	—	$	503	$	948	$	12	$	—	$	960
Fiduciary fees	200		169		3		372		392		336		3		731
Guarantee fees	143		2		2		147		285		4		3		292
Total administration and other fiduciary fees(1)	$	840	$	177	$	5	$	1,022	$	1,625	$	352	$	6	$	1,983

	Three Months Ended June 30, 2020								Six Months Ended June 30, 2020
In millions of dollars	ICG		GCB		Corporate/Other		Total		ICG		GCB		Corporate/Other		Total
Custody fees	$	372	$	6	$	21	$	399	$	738	$	14	$	36	$	788
Fiduciary fees	158		132		—		290		330		288		—		618
Guarantee fees	127		1		2		130		261		3		3		267
Total administration and other fiduciary fees(1)	$	657	$	139	$	23	$	819	$	1,329	$	305	$	39	$	1,673

(1)    Administration and other fiduciary fees includes $147 million and $130 million for the three months ended June 30, 2021 and 2020, respectively, and $292 million and $267 million for the six months ended June 30, 2021 and 2020, respectively, that are not accounted for under ASC 606, Revenue from Contracts with Customers. These generally include guarantee fees.