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LOANS (Tables)

6 Months Ended

Jun. 30, 2021

Financing Receivable, Credit Quality Indicator [Line Items]

Schedule of loan delinquency and non-accrual details

Consumer Loans, Delinquencies and Non-Accrual Status at June 30, 2021


In millions of dollars	Total current(1)(2)		30–89 days past due(3)(4)		≥ 90 days past due(3)(4)		Past due government guaranteed(5)		Total loans		Non-accrual loans for which there is no ACLL		Non-accrual loans for which there is an ACLL		Total non-accrual		90 days past due and accruing
In North America offices(6)
Residential first mortgages(7)	$	43,811	$	315	$	307	$	402	$	44,835	$	133	$	407	$	540	$	257
Home equity loans(8)(9)	5,937		51		180		—		6,168		68		253		321		—
Credit cards	123,133		770		920		—		124,823		—		—		—		920
Personal, small business and other	3,655		13		8		—		3,676		—		18		18		—
Total	$	176,536	$	1,149	$	1,415	$	402	$	179,502	$	201	$	678	$	879	$	1,177
In offices outside North America(6)
Residential first mortgages(7)	$	39,964	$	184	$	196	$	—	$	40,344	$	—	$	476	$	476	$	—
Credit cards	20,162		304		310		—		20,776		—		233		233		232
Personal, small business and other	34,910		235		128		—		35,273		—		218		218		—
Total	$	95,036	$	723	$	634	$	—	$	96,393	$	—	$	927	$	927	$	232
Total Citigroup(10)	$	271,572	$	1,872	$	2,049	$	402	$	275,895	$	201	$	1,605	$	1,806	$	1,409

(1)Loans less than 30 days past due are presented as current.

(2)Includes $14 million of residential first mortgages recorded at fair value.

(3)Excludes loans guaranteed by U.S. government-sponsored agencies.

(4)Loans modified under Citi’s consumer relief programs continue to be reported in the same delinquency bucket they were in at the time of modification. Most modified loans in North America would not be reported as 30–89 or 90+ days past due for the duration of the programs (which have various durations, and certain of which may be renewed by the customer). Consumer relief programs in Asia and Mexico largely expired during the fourth quarter of 2020 and began to age at that time.

(5)Consists of residential first mortgages that are guaranteed by U.S. government-sponsored agencies that are 30–89 days past due of $0.1 billion and 90 days or more past due of $0.3 billion.

(6)North America includes the U.S., Canada and Puerto Rico. Mexico is included in offices outside North America.

(7)Includes approximately $0.1 billion of residential first mortgage loans in process of foreclosure.

(8)Includes approximately $0.1 billion of home equity loans in process of foreclosure.

(9)Fixed-rate home equity loans and loans extended under home equity lines of credit, which are typically in junior lien positions.

(10)Consumer loans are net of unearned income of $676 million. Unearned income on consumer loans primarily represents unamortized origination fees and costs, premiums and discounts.

Interest Income Recognized for Non-Accrual Consumer Loans


In millions of dollars	Three Months Ended June 30, 2021		Three Months Ended June 30, 2020		Six Months Ended June 30, 2021		Six Months Ended June 30, 2020
In North America offices(1)
Residential first mortgages	$	3	$	4	$	6	$	7
Home equity loans	2		2		4		4
Credit cards	—		—		—		—
Personal, small business and other	—		—		—		—
Total	$	5	$	6	$	10	$	11
In offices outside North America(1)
Residential first mortgages	$	—	$	—	$	—	$	—
Credit cards	—		—		—		—
Personal, small business and other	—		—		—		—
Total	$	—	$	—	$	—	$	—
Total Citigroup	$	5	$	6	$	10	$	11

(1)North America includes the U.S., Canada and Puerto Rico. Mexico is included in offices outside North America.

Consumer Loans, Delinquencies and Non-Accrual Status at December 31, 2020


In millions of dollars	Total current(1)(2)		30–89 days past due(3)(4)		≥ 90 days past due(3)(4)		Past due government guaranteed(5)		Total loans		Non-accrual loans for which there is no ACLL		Non-accrual loans for which there is an ACLL		Total non-accrual		90 days past due and accruing
In North America offices(6)
Residential first mortgages(7)	$	46,471	$	402	$	381	$	524	$	47,778	$	136	$	509	$	645	$	332
Home equity loans(8)(9)	6,829		78		221		—		7,128		72		307		379		—
Credit cards	127,827		1,228		1,330		—		130,385		—		—		—		1,330
Personal, small business and other	4,472		27		10		—		4,509		2		33		35		—
Total	$	185,599	$	1,735	$	1,942	$	524	$	189,800	$	210	$	849	$	1,059	$	1,662
In offices outside North America(6)
Residential first mortgages(7)	$	39,557	$	213	$	199	$	—	$	39,969	$	—	$	486	$	486	$	—
Credit cards	21,718		429		545		—		22,692		—		384		384		376
Personal, small business and other	35,925		319		134		—		36,378		—		212		212		—
Total	$	97,200	$	961	$	878	$	—	$	99,039	$	—	$	1,082	$	1,082	$	376
Total Citigroup(10)	$	282,799	$	2,696	$	2,820	$	524	$	288,839	$	210	$	1,931	$	2,141	$	2,038

(1)Loans less than 30 days past due are presented as current.

(2)Includes $14 million of residential first mortgages recorded at fair value.

(3)Excludes loans guaranteed by U.S. government-sponsored agencies.

(4)Loans modified under Citi’s consumer relief programs continue to be reported in the same delinquency bucket they were in at the time of modification, and thus almost all would not be reported as 30–89 or 90+ days past due for the duration of the programs (which have various durations, and certain of which may be renewed by the customer).

(5)Consists of residential first mortgages that are guaranteed by U.S. government-sponsored agencies that are 30–89 days past due of $0.2 billion and 90 days or more past due of $0.3 billion.

(6)North America includes the U.S., Canada and Puerto Rico. Mexico is included in offices outside North America.

(7)Includes approximately $0.1 billion of residential first mortgage loans in process of foreclosure.

(8)Includes approximately $0.1 billion of home equity loans in process of foreclosure.

(9)Fixed-rate home equity loans and loans extended under home equity lines of credit, which are typically in junior lien positions.

(10)Consumer loans are net of unearned income of $749 million. Unearned income on consumer loans primarily represents unamortized origination fees and costs, premiums and discounts.

Schedule of loans credit quality indicators

The following tables provide details on the Fair Isaac Corporation (FICO) scores for Citi’s U.S. consumer loan portfolio based on end-of-period receivables by year of origination. FICO scores are updated monthly for substantially all of the portfolio or, otherwise, on a quarterly basis for the remaining portfolio.


FICO score distribution in U.S. portfolio(1)(2)	June 30, 2021
In millions of dollars	Less than 680		680 to 760		Greater than 760		FICO not available		Total loans
Residential first mortgages
2021	$	40	$	1,465	$	3,637
2020	213		3,175		8,605
2019	127		1,527		4,063
2018	208		533		919
2017	257		697		1,403
Prior	1,707		4,593		9,816
Total residential first mortgages	$	2,552	$	11,990	$	28,443	$	1,850	$	44,835
Credit cards(3)	$	21,014	$	50,253	$	50,827	$	2,201	$	124,295

Home equity loans (pre-reset)	$	237	$	932	$	1,470
Home equity loans (post-reset)	846		1,347		1,327
Total home equity loans	$	1,083	$	2,279	$	2,797	$	9	$	6,168
Personal, small business and other
2021	$	8	$	35	$	68
2020	24		56		95
2019	55		77		99
2018	51		55		58
2017	14		16		18
Prior	122		177		142
Total personal, small business and other	$	274	$	416	$	480	$	2,506	$	3,676
Total	$	24,923	$	64,938	$	82,547	$	6,566	$	178,974


FICO score distribution in U.S. portfolio(1)(2)	December 31, 2020
In millions of dollars	Less than 680		680 to 760		Greater than 760		FICO not available		Total loans
Residential first mortgages
2020	$	187	$	3,741	$	9,052
2019	150		1,857		5,384
2018	246		655		1,227
2017	298		846		1,829
2016	323		1,368		3,799
Prior	1,708		4,133		9,105
Total residential first mortgages	$	2,912	$	12,600	$	30,396	$	1,870	$	47,778
Credit cards(3)	$	26,227	$	52,778	$	49,767	$	1,041	$	129,813
Home equity loans (pre-reset)	$	292	$	1,014	$	1,657
Home equity loans (post-reset)	1,055		1,569		1,524
Total home equity loans	$	1,347	$	2,583	$	3,181	$	17	$	7,128
Personal, small business and other
2020	$	23	$	58	$	95
2019	79		106		134
2018	82		80		84
2017	26		27		30
2016	10		9		8
Prior	214		393		529
Total personal, small business and other	$	434	$	673	$	880	$	2,522	$	4,509
Total	$	30,920	$	68,634	$	84,224	$	5,450	$	189,228

(1)The FICO bands in the tables are consistent with general industry peer presentations.

(2)FICO scores are updated on either a monthly or quarterly basis. For updates that are made only quarterly, certain current-period loans by year of origination are greater than those disclosed in the prior periods. Loans that did not have FICO scores as of the prior period have been updated with FICO scores as they become available.

(3)Excludes $528 million and $572 million of balances related to Canada for June 30, 2021 and December 31, 2020, respectively.

The following tables provide details on the LTV ratios for Citi’s U.S. consumer mortgage portfolios by year of origination. LTV ratios are updated monthly using the most recent Core Logic Home Price Index data available for substantially all of the portfolio applied at the Metropolitan Statistical Area level, if available, or the state level if not. The remainder of the portfolio is updated in a similar manner using the Federal Housing Finance Agency indices.


LTV distribution in U.S. portfolio	June 30, 2021
In millions of dollars	Less than or equal to 80%		> 80% but less than or equal to 100%		Greater than 100%		LTV not available		Total
Residential first mortgages
2021	$	4,698	$	454	$	—
2020	11,573		430		—
2019	5,513		211		3
2018	1,398		262		7
2017	2,232		130		3
Prior	16,129		73		13
Total residential first mortgages	$	41,543	$	1,560	$	26	$	1,706	$	44,835
Home equity loans (pre-reset)	$	2,562	$	42	$	14
Home equity loans (post-reset)	3,324		145		35
Total home equity loans	$	5,886	$	187	$	49	$	46	$	6,168
Total	$	47,429	$	1,747	$	75	$	1,752	$	51,003


LTV distribution in U.S. portfolio	December 31, 2020
In millions of dollars	Less than or equal to 80%		> 80% but less than or equal to 100%		Greater than 100%		LTV not available		Total
Residential first mortgages
2020	$	11,447	$	1,543	$	—
2019	7,029		376		2
2018	1,617		507		11
2017	2,711		269		4
2016	5,423		84		2
Prior	14,966		66		16
Total residential first mortgages	$	43,193	$	2,845	$	35	$	1,705	$	47,778
Home equity loans (pre-reset)	$	2,876	$	50	$	16
Home equity loans (post-reset)	3,782		290		58
Total home equity loans	$	6,658	$	340	$	74	$	56	$	7,128
Total	$	49,851	$	3,185	$	109	$	1,761	$	54,906

Schedule of impaired loans

The following tables present information about impaired consumer loans and interest income recognized on impaired consumer loans:


									Three Months Ended June 30,				Six Months Ended June 30,
	Balance at June 30, 2021								2021		2020		2021		2020
In millions of dollars	Recorded investment(1)(2)		Unpaid principal balance		Related specific allowance(3)		Average carrying value(4)		Interest income recognized(5)		Interest income recognized(5)		Interest income recognized(5)		Interest income recognized(5)
Mortgage and real estate
Residential first mortgages	$	1,606	$	1,768	$	122	$	1,689	$	21	$	15	$	42	$	29
Home equity loans	433		587		33		468		3		4		6		7
Credit cards	1,906		1,942		770		1,951		33		25		68		51
Personal, small business and other	524		675		159		524		15		16		27		32
Total	$	4,469	$	4,972	$	1,084	$	4,632	$	72	$	60	$	143	$	119


	Balance at December 31, 2020
In millions of dollars	Recorded investment(1)(2)		Unpaid principal balance		Related specific allowance(3)		Average carrying value(4)
Mortgage and real estate
Residential first mortgages	$	1,787	$	1,962	$	157	$	1,661
Home equity loans	478		651		60		527
Credit cards	1,982		2,135		918		1,926
Personal, small business and other	552		552		210		463
Total	$	4,799	$	5,300	$	1,345	$	4,577

(1)Recorded investment in a loan includes net deferred loan fees and costs, unamortized premium or discount and direct write-downs and includes accrued interest only on credit card loans.

(2)For June 30, 2021, $202 million of residential first mortgages and $127 million of home equity loans do not have a specific allowance. For December 31, 2020, $211 million of residential first mortgages and $147 million of home equity loans do not have a specific allowance.

(3)Included in the Allowance for credit losses on loans.

(4)Average carrying value represents the average recorded investment ending balance for the last four quarters and does not include the related specific allowance.

(5)Includes amounts recognized on both accrual and cash basis.

Schedule of troubled debt restructurings

Consumer Troubled Debt Restructurings(1)


	For the Three Months Ended June 30, 2021
In millions of dollars, except number of loans modified	Number of loans modified	Post- modification recorded investment(2)(3)		Deferred principal(4)		Contingent principal forgiveness(5)		Principal forgiveness(6)		Average interest rate reduction
North America
Residential first mortgages	326	$	57	$	—	$	—	$	—	—	%
Home equity loans	50	4		—		—		—		—
Credit cards	36,337	181		—		—		—		17
Personal, small business and other	225	3		—		—		—		3
Total(7)	36,938	$	245	$	—	$	—	$	—
International
Residential first mortgages	530	$	28	$	—	$	—	$	—	1	%
Credit cards	18,297	94		—		—		1		12
Personal, small business and other	6,780	57		—		—		2		10
Total(7)	25,607	$	179	$	—	$	—	$	3


	For the Three Months Ended June 30, 2020
In millions of dollars, except number of loans modified	Number of loans modified	Post- modification recorded investment(2)(8)		Deferred principal(4)		Contingent principal forgiveness(5)		Principal forgiveness(6)		Average interest rate reduction
North America
Residential first mortgages	298	$	51	$	—	$	—	$	—	—	%
Home equity loans	83	8		—		—		—		—
Credit cards	50,891	220		—		—		—		17
Personal, small business and other	343	3		—		—		—		4
Total(7)	51,615	$	282	$	—	$	—	$	—
International
Residential first mortgages	642	$	44	$	—	$	—	$	—	4	%
Credit cards	21,276	94		—		—		3		16
Personal, small business and other	11,284	77		—		—		2		10
Total(7)	33,202	$	215	$	—	$	—	$	5

(1)The above tables do not include loan modifications that meet the TDR relief criteria in the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) or the interagency guidance.

(2)Post-modification balances include past-due amounts that are capitalized at the modification date.

(3)Post-modification balances in North America include $4 million of residential first mortgages and $0.3 million of home equity loans to borrowers who have gone through Chapter 7 bankruptcy in the three months ended June 30, 2021. These amounts include $1 million of residential first mortgages and $0.3 million of home equity loans that were newly classified as TDRs in the three months ended June 30, 2021, based on previously received OCC guidance.

(4)Represents portion of contractual loan principal that is non-interest bearing, but still due from the borrower. Such deferred principal is charged off at the time of permanent modification to the extent that the related loan balance exceeds the underlying collateral value.

(5)Represents portion of contractual loan principal that is non-interest bearing and, depending upon borrower performance, eligible for forgiveness.

(6)Represents portion of contractual loan principal that was forgiven at the time of permanent modification.

(7) The above tables reflect activity for restructured loans that were considered TDRs during the reporting period.

(8) Post-modification balances in North America include $3 million of residential first mortgages and $1 million of home equity loans to borrowers who have gone through Chapter 7 bankruptcy in the three months ended June 30, 2020. These amounts include $2 million of residential first mortgages and $1 million of home equity loans that were newly classified as TDRs in the three months ended June 30, 2020, based on previously received OCC guidance.

Consumer Troubled Debt Restructurings(1)


	For the Six Months Ended June 30, 2021
In millions of dollars, except number of loans modified	Number of loans modified	Post- modification recorded investment(2)(3)		Deferred principal(4)		Contingent principal forgiveness(5)		Principal forgiveness(6)		Average interest rate reduction
North America
Residential first mortgages	661	$	115	$	—	$	—	$	—	—	%
Home equity loans	107	8		—		—		—		—
Credit cards	95,383	481		—		—		—		17
Personal, small business and other	686	10		—		—		—		3
Total(7)	96,837	$	614	$	—	$	—	$	—
International
Residential first mortgages	997	$	52	$	—	$	—	$	—	1	%
Credit cards	42,896	196		—		—		9		14
Personal, small business and other	14,317	114		—		—		4		10
Total(7)	58,210	$	362	$	—	$	—	$	13


	For the Six Months Ended June 30, 2020
In millions of dollars, except number of loans modified	Number of loans modified	Post- modification recorded investment(2)(8)		Deferred principal(4)		Contingent principal forgiveness(5)		Principal forgiveness(6)		Average interest rate reduction
North America
Residential first mortgages	575	$	95	$	—	$	—	$	—	—	%
Home equity loans	165	16		—		—		—		1
Credit cards	118,173	525		—		—		—		17
Personal, small business and other	776	7		—		—		—		3
Total(7)	119,689	$	643	$	—	$	—	$	—
International
Residential first mortgages	1,178	$	58	$	—	$	—	$	—	4	%
Credit cards	40,591	167		—		—		5		16
Personal, small business and other	18,938	128		—		—		4		10
Total(7)	60,707	$	353	$	—	$	—	$	9

(1)The above tables do not include loan modifications that meet the TDR relief criteria in the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) or the interagency guidance.

(2)Post-modification balances include past-due amounts that are capitalized at the modification date.

(3)Post-modification balances in North America include $7 million of residential first mortgages and $0.4 million of home equity loans to borrowers who have gone through Chapter 7 bankruptcy in the six months ended June 30, 2021. These amounts include $2 million of residential first mortgages and $0.3 million of home equity loans that were newly classified as TDRs in the six months ended June 30, 2021, based on previously received OCC guidance.

(5)Represents portion of contractual loan principal that is non-interest bearing and, depending on borrower performance, eligible for forgiveness.

(6)Represents portion of contractual loan principal that was forgiven at the time of permanent modification.

(7) The above tables reflect activity for restructured loans that were considered TDRs during the reporting period.

(8) Post-modification balances in North America include $7 million of residential first mortgages and $2 million of home equity loans to borrowers who have gone through Chapter 7 bankruptcy in the six months ended June 30, 2020. These amounts include $5 million of residential first mortgages and $1 million of home equity loans that were newly classified as TDRs in the six months ended June 30, 2020, based on previously received OCC guidance.

Schedule of troubled debt restructuring loans that defaulted

The following table presents consumer TDRs that defaulted for which the payment default occurred within one year of a permanent modification. Default is defined as 60 days past due.


	Three Months Ended June 30,				Six Months Ended June 30,
In millions of dollars	2021		2020		2021		2020
North America
Residential first mortgages	$	15	$	21	$	33	$	35
Home equity loans	3		4		7		6
Credit cards	73		92		136		182
Personal, small business and other	1		1		2		3
Total	$	92	$	118	$	178	$	226
International
Residential first mortgages	$	10	$	5	$	22	$	11
Credit cards	45		38		97		71
Personal, small business and other	37		18		58		35
Total	$	92	$	61	$	177	$	117

Purchased Credit-Deteriorated Assets


	Three Months Ended June 30, 2021						Three Months Ended December 31, 2020						Three Months Ended June 30, 2020
In millions of dollars	Credit cards		Mortgages(1)		Installment and other		Credit cards		Mortgages(1)		Installment and other		Credit cards		Mortgages(1)		Installment and other
Purchase price	$	—	$	10	$	—	$	—	$	12	$	—	$	—	$	3	$	—
Allowance for credit losses at acquisition date	—		—		—		—		—		—		—		—		—
Discount or premium attributable to non-credit factors	—		—		—		—		—		—		—		—		—
Par value (amortized cost basis)	$	—	$	10	$	—	$	—	$	12	$	—	$	—	$	3	$	—

(1) Includes loans sold to agencies that were bought back at par due to repurchase agreements.

Corporate

Financing Receivable, Credit Quality Indicator [Line Items]

Schedule of loan delinquency and non-accrual details

Corporate Loan Delinquencies and Non-Accrual Details at June 30, 2021


In millions of dollars	30–89 days past due and accruing(1)		≥ 90 days past due and accruing(1)		Total past due and accruing		Total non-accrual(2)		Total current(3)		Total loans(4)
Commercial and industrial	$	818	$	121	$	939	$	1,878	$	149,317	$	152,134
Financial institutions	477		324		801		39		100,149		100,989
Mortgage and real estate	210		21		231		458		72,467		73,156
Lease financing	26		—		26		22		554		602
Other	71		237		308		179		65,878		66,365
Loans at fair value											7,693

Total	$	1,602	$	703	$	2,305	$	2,576	$	388,365	$	400,939

Corporate Loan Delinquencies and Non-Accrual Details at December 31, 2020


In millions of dollars	30–89 days past due and accruing(1)		≥ 90 days past due and accruing(1)		Total past due and accruing		Total non-accrual(2)		Total current(3)		Total loans(4)
Commercial and industrial	$	400	$	109	$	509	$	2,795	$	153,036	$	156,340
Financial institutions	668		65		733		92		86,864		87,689
Mortgage and real estate	450		247		697		505		70,836		72,038
Lease financing	62		12		74		24		640		738
Other	112		19		131		111		63,157		63,399
Loans at fair value											6,840

Total	$	1,692	$	452	$	2,144	$	3,527	$	374,533	$	387,044

(1)Corporate loans that are 90 days past due are generally classified as non-accrual. Corporate loans are considered past due when principal or interest is contractually due but unpaid.

(2)Non-accrual loans generally include those loans that are 90 days or more past due or those loans for which Citi believes, based on actual experience and a forward-looking assessment of the collectability of the loan in full, that the payment of interest and/or principal is doubtful.

(3)Loans less than 30 days past due are presented as current.

(4)Total loans include loans at fair value, which are not included in the various delinquency columns.

Schedule of loans credit quality indicators

Corporate Loans Credit Quality Indicators


	Recorded investment in loans(1)
	Term loans by year of origination												Revolving line of credit arrangements(2)		June 30, 2021
In millions of dollars	2021		2020		2019		2018		2017		Prior
Investment grade(3)
Commercial and industrial(4)	$	37,302	$	7,576	$	5,592	$	5,066	$	3,302	$	9,628	$	28,121	$	96,587
Financial institutions(4)	12,951		4,271		1,809		1,409		914		2,615		66,706		90,675
Mortgage and real estate	2,896		5,748		5,845		3,859		2,010		3,204		1,545		25,107
Other(5)	9,815		6,082		2,554		4,315		635		6,629		31,038		61,068
Total investment grade	$	62,964	$	23,677	$	15,800	$	14,649	$	6,861	$	22,076	$	127,410	$	273,437
Non-investment grade(3)
Accrual
Commercial and industrial(4)	$	15,439	$	4,660	$	3,892	$	3,334	$	2,304	$	4,020	$	20,021	$	53,670
Financial institutions(4)	5,008		936		546		334		101		273		3,076		10,274
Mortgage and real estate	1,302		1,314		2,133		1,633		1,045		1,304		672		9,403
Other(5)	1,127		456		644		516		312		647		1,995		5,697
Non-accrual
Commercial and industrial(4)	40		182		201		83		108		172		1,091		1,877
Financial institutions	—		—		—		—		—		11		29		40
Mortgage and real estate	2		13		5		85		10		62		280		457
Other(5)	90		19		5		20		28		20		20		202
Total non-investment grade	$	23,008	$	7,580	$	7,426	$	6,005	$	3,908	$	6,509	$	27,184	$	81,620
Non-rated private bank loans managed on a delinquency basis(3)(6)	$	5,600	$	9,537	$	6,551	$	3,210	$	3,248	$	10,043	$	—	$	38,189
Loans at fair value(7)															7,693
Corporate loans, net of unearned income	$	91,572	$	40,794	$	29,777	$	23,864	$	14,017	$	38,628	$	154,594	$	400,939


	Recorded investment in loans(1)
	Term loans by year of origination												Revolving line of credit arrangements(2)		December 31, 2020
In millions of dollars	2020		2019		2018		2017		2016		Prior
Investment grade(3)
Commercial and industrial(4)	$	38,398	$	7,607	$	5,929	$	3,909	$	2,094	$	8,670	$	25,819	$	92,426
Financial institutions(4)	10,560		2,964		2,106		782		681		2,030		56,239		75,362
Mortgage and real estate	6,793		6,714		5,174		2,568		1,212		1,719		1,557		25,737
Other(5)	10,874		3,566		4,597		952		780		5,290		31,696		57,755
Total investment grade	$	66,625	$	20,851	$	17,806	$	8,211	$	4,767	$	17,709	$	115,311	$	251,280
Non-investment grade(3)
Accrual
Commercial and industrial(4)	$	19,683	$	4,794	$	4,645	$	2,883	$	1,182	$	4,533	$	23,400	$	61,120
Financial institutions(4)	7,413		700		654		274		141		197		2,855		12,234
Mortgage and real estate	1,882		1,919		2,058		1,457		697		837		551		9,401
Other(5)	1,407		918		725		370		186		657		1,986		6,249
Non-accrual
Commercial and industrial(4)	260		203		192		143		57		223		1,717		2,795
Financial institutions	1		—		—		—		—		—		91		92
Mortgage and real estate	13		4		3		18		8		32		427		505
Other(5)	15		3		12		29		2		65		9		135
Total non-investment grade	$	30,674	$	8,541	$	8,289	$	5,174	$	2,273	$	6,544	$	31,036	$	92,531
Non-rated private bank loans managed on a delinquency basis(3)(6)	$	9,823	$	7,121	$	3,533	$	3,674	$	4,300	$	7,942	$	—	$	36,393
Loans at fair value(7)															6,840
Corporate loans, net of unearned income	$	107,122	$	36,513	$	29,628	$	17,059	$	11,340	$	32,195	$	146,347	$	387,044

(1)Recorded investment in a loan includes net deferred loan fees and costs, unamortized premium or discount, less any direct write-downs.

(2)There were no significant revolving line of credit arrangements that converted to term loans during the quarter.

(3)Held-for-investment loans are accounted for on an amortized cost basis.

(4)Includes certain short-term loans with less than one year in tenor.

(5)Other includes installment and other, lease financing and loans to government and official institutions.

(6)Non-rated private bank loans mainly include mortgage and real estate loans to private banking clients.

(7)Loans at fair value include loans to commercial and industrial, financial institutions, mortgage and real estate and other.

Schedule of impaired loans

The following tables present non-accrual loan information by corporate loan type and interest income recognized on non-accrual corporate loans:


	June 30, 2021								Three Months Ended June 30, 2021		Six Months Ended June 30, 2021
In millions of dollars	Recorded investment(1)		Unpaid principal balance		Related specific allowance		Average carrying value(2)		Interest income recognized		Interest income recognized(3)
Non-accrual corporate loans
Commercial and industrial	$	1,878	$	2,453	$	314	$	2,481	$	15	$	25
Financial institutions	39		116		—		83		—		—
Mortgage and real estate	458		749		28		486		—		—
Lease financing	22		22		—		28		—		—
Other	179		251		3		121		—		6
Total non-accrual corporate loans	$	2,576	$	3,591	$	345	$	3,199	$	15	$	31


	December 31, 2020
In millions of dollars	Recorded investment(1)		Unpaid principal balance		Related specific allowance		Average carrying value(2)
Non-accrual corporate loans
Commercial and industrial	$	2,795	$	3,664	$	442	$	2,649
Financial institutions	92		181		17		132
Mortgage and real estate	505		803		38		413
Lease financing	24		24		—		34
Other	111		235		18		174
Total non-accrual corporate loans	$	3,527	$	4,907	$	515	$	3,402


	June 30, 2021				December 31, 2020
In millions of dollars	Recorded investment(1)		Related specific allowance		Recorded investment(1)		Related specific allowance
Non-accrual corporate loans with specific allowances
Commercial and industrial	$	1,568	$	314	$	1,523	$	442
Financial institutions	—		—		90		17
Mortgage and real estate	142		28		246		38

Other	58		3		68		18
Total non-accrual corporate loans with specific allowances	$	1,768	$	345	$	1,927	$	515
Non-accrual corporate loans without specific allowances
Commercial and industrial	$	310			$	1,272
Financial institutions	39				2
Mortgage and real estate	316				259
Lease financing	22				24
Other	121				43
Total non-accrual corporate loans without specific allowances	$	808	N/A		$	1,600	N/A

(1)Recorded investment in a loan includes net deferred loan fees and costs, unamortized premium or discount, less any direct write-downs.

(2)Average carrying value represents the average recorded investment balance and does not include related specific allowances.

(3)Interest income recognized for the three and six months ended June 30, 2020 was $4 million and $19 million, respectively.

N/A Not applicable

Schedule of troubled debt restructurings


In millions of dollars	Carrying value of TDRs modified during the period		TDRs involving changes in the amount and/or timing of principal payments(2)		TDRs involving changes in the amount and/or timing of interest payments(3)		TDRs involving changes in the amount and/or timing of both principal and interest payments
Three Months Ended June 30, 2021
Commercial and industrial	$	52	$	—	$	—	$	52


Mortgage and real estate	5		—		—		5

Other	—		—		—		—
Total	$	57	$	—	$	—	$	57
Six Months Ended June 30, 2021
Commercial and industrial	$	73	$	—	$	—	$	73

Mortgage and real estate	6		—		—		6
Other	1		1		—		—
Total	$	80	$	1	$	—	$	79

Three and Six Months Ended June 30, 2020


In millions of dollars	Carrying value of TDRs modified during the period		TDRs involving changes in the amount and/or timing of principal payments(2)		TDRs involving changes in the amount and/or timing of interest payments(3)		TDRs involving changes in the amount and/or timing of both principal and interest payments
Three Months Ended June 30, 2020
Commercial and industrial	$	86	$	—	$	—	$	86

Mortgage and real estate	4		—		—		4

Other	4		4		—		—

Total	$	94	$	4	$	—	$	90
Six Months Ended June 30, 2020
Commercial and industrial	$	148	$	—	$	—	$	148
Mortgage and real estate	8		—		—		8
Other	4		4		—		—

Total	$	160	$	4	$	—	$	156

(1)The above tables do not include loan modifications that meet the TDR relief criteria in the CARES Act or the interagency guidance.

(2)TDRs involving changes in the amount or timing of principal payments may involve principal forgiveness or deferral of periodic and/or final principal payments. Because forgiveness of principal is rare for corporate loans, modifications typically have little to no impact on the loans’ projected cash flows and thus little to no impact on the allowance established for the loans. Charge-offs for amounts deemed uncollectible may be recorded at the time of the restructuring or may have already been recorded in prior periods such that no charge-off is required at the time of the modification.

(3)TDRs involving changes in the amount or timing of interest payments may involve a below-market interest rate.

Schedule of troubled debt restructuring loans that defaulted

The following table presents total corporate loans modified in a TDR as well as those TDRs that defaulted and for which the payment default occurred within one year of a permanent modification. Default is defined as 60 days past due, except for classifiably managed commercial banking loans, where default is defined as 90 days past due.


			TDR loans that re-defaulted within one year of modification during the						TDR loans that re-defaulted within one year of modification during the
In millions of dollars	TDR balances at June 30, 2021		Three Months Ended June 30, 2021		Six Months Ended June 30, 2021		TDR balances at June 30, 2020		Three Months Ended June 30, 2020		Six Months Ended June 30, 2020
Commercial and industrial	$	298	$	—	$	—	$	406	$	—	$	—

Mortgage and real estate	80		—		—		91		—		—

Other	38		—		—		10		—		—
Total(1)	$	416	$	—	$	—	$	507	$	—	$	—

(1)The above table reflects activity for loans outstanding that were considered TDRs as of the end of the reporting period.

Schedule of corporate loans by type

The following table presents information by corporate loan type:


In millions of dollars	June 30, 2021		December 31, 2020
In North America offices(1)
Commercial and industrial	$	53,549	$	57,731
Financial institutions	65,494		55,809
Mortgage and real estate(2)	62,162		60,675
Installment and other	26,757		26,744
Lease financing	547		673
Total	$	208,509	$	201,632
In offices outside North America(1)
Commercial and industrial	$	105,486	$	104,072
Financial institutions	35,713		32,334
Mortgage and real estate(2)	10,995		11,371
Installment and other	35,787		33,759
Lease financing	54		65
Governments and official institutions	4,395		3,811
Total	$	192,430	$	185,412
Corporate loans, net of unearned income(3)	$	400,939	$	387,044

(1)North America includes the U.S., Canada and Puerto Rico. Mexico is included in offices outside North America. The classification between offices in North America and outside North America is based on the domicile of the booking unit. The difference between the domicile of the booking unit and the domicile of the managing unit is not material.

(2)Loans secured primarily by real estate.

(3)Corporate loans are net of unearned income of ($841) million and ($844) million at June 30, 2021 and December 31, 2020, respectively. Unearned income on corporate loans primarily represents interest received in advance, but not yet earned, on loans originated on a discounted basis.