Citigroup loans are reported in two categories: consumer and corporate. These categories are classified primarily according to the segment and subsegment that manage the loans. For additional information regarding Citi’s consumer and corporate loans, including related accounting policies, see Note 1 to the Consolidated Financial Statements and Notes 1 and 14 to the Consolidated Financial Statements in Citi’s 2020 Annual Report on Form 10-K.

Consumer Loans

Consumer loans represent loans and leases managed primarily by GCB and Corporate/Other.

Consumer Loans, Delinquencies and Non-Accrual Status at September 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)	$	43,388	$	289	$	275	$	393	$	44,345	$	133	$	347	$	480	$	267
Home equity loans(8)(9)	5,276		48		161		—		5,485		65		210		275		—
Credit cards	123,897		846		783		—		125,526		—		—		—		783
Personal, small business and other	3,150		12		6		11		3,179		—		17		17		—
Total	$	175,711	$	1,195	$	1,225	$	404	$	178,535	$	198	$	574	$	772	$	1,050
In offices outside North America(6)
Residential first mortgages(7)	$	33,993	$	177	$	169	$	—	$	34,339	$	—	$	419	$	419	$	—
Credit cards	17,304		233		226		—		17,763		—		187		187		146
Personal, small business and other	33,362		162		89		—		33,613		—		211		211		26
Total	$	84,659	$	572	$	484	$	—	$	85,715	$	—	$	817	$	817	$	172
Total Citigroup(10)	$	260,370	$	1,767	$	1,709	$	404	$	264,250	$	198	$	1,391	$	1,589	$	1,222

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

(2)Includes $13 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 loans 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 $650 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 September 30, 2021		Three Months Ended September 30, 2020		Nine Months Ended September 30, 2021		Nine Months Ended September 30, 2020
In North America offices(1)
Residential first mortgages	$	3	$	4	$	9	$	11
Home equity loans	2		2		6		6
Credit cards	—		—		—		—
Personal, small business and other	—		—		—		—
Total	$	5	$	6	$	15	$	17
In offices outside North America(1)
Residential first mortgages	$	—	$	—	$	—	$	—
Credit cards	—		—		—		—
Personal, small business and other	—		—		—		—
Total	$	—	$	—	$	—	$	—
Total Citigroup	$	5	$	6	$	15	$	17

(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		324
Personal, small business and other	35,925		319		134		—		36,378		—		212		212		52
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.

During the three and nine months ended September 30, 2021, the Company sold and/or reclassified to HFS $346 million and $1,178 million of consumer loans, respectively. During the three and nine months ended September 30, 2020, the Company sold and/or reclassified to HFS $386 million and $422 million of consumer loans, respectively. Loans held by a business for sale are not included in the above. For additional information regarding Citigroup’s business for sale, see Note 2.

Consumer Credit Scores (FICO)

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)	September 30, 2021
In millions of dollars	Less than 680		680 to 760		Greater than 760		FICO not available		Total loans
Residential first mortgages
2021	$	132	$	2,555	$	5,535
2020	180		2,949		8,046
2019	133		1,369		3,499
2018	207		468		820
2017	249		646		1,272
Prior	1,602		4,164		8,755
Total residential first mortgages	$	2,503	$	12,151	$	27,927	$	1,764	$	44,345
Home equity loans (pre-reset)	$	228	$	877	$	1,399
Home equity loans (post-reset)	678		1,097		1,176
Total home equity loans	$	906	$	1,974	$	2,575	$	30	$	5,485
Credit cards(3)	$	21,579	$	50,734	$	50,451	$	2,237	$	125,001

Personal, small business and other
2021	$	19	$	63	$	114
2020	23		50		77
2019	48		65		82
2018	41		45		47
2017	11		12		13
Prior	120		176		141
Total personal, small business and other	$	262	$	411	$	474	$	2,032	$	3,179
Total	$	25,250	$	65,270	$	81,427	$	6,063	$	178,010


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
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
Credit cards(3)	$	26,227	$	52,778	$	49,767	$	1,041	$	129,813
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 $525 million and $572 million of balances related to Canada for September 30, 2021 and December 31, 2020, respectively.

Loan to Value (LTV) Ratios

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	September 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	$	7,875	$	355	$	—
2020	11,049		137		—
2019	4,913		96		1
2018	1,378		117		6
2017	2,117		56		2
Prior	14,556		44		10
Total residential first mortgages	$	41,888	$	805	$	19	$	1,633	$	44,345
Home equity loans (pre-reset)	$	2,441	$	34	$	10
Home equity loans (post-reset)	2,839		69		28
Total home equity loans	$	5,280	$	103	$	38	$	64	$	5,485
Total	$	47,168	$	908	$	57	$	1,697	$	49,830


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

Impaired Consumer Loans

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


									Three Months Ended September 30,				Nine Months Ended September 30,
	Balance at September 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	$	1,422	$	1,566	$	103	$	1,632	$	23	$	16	$	65	$	44
Home equity loans	262		355		4		408		2		3		8		10
Credit cards	1,701		1,702		661		1,895		24		26		92		77
Personal, small business and other	467		787		123		529		14		18		41		50
Total	$	3,852	$	4,410	$	891	$	4,464	$	63	$	63	$	206	$	181


	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 September 30, 2021, $191 million of residential first mortgages and $119 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.

Consumer Troubled Debt Restructurings(1)


	For the Three Months Ended September 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	281	$	48	$	—	$	—	$	—	1	%
Home equity loans	31	1		—		—		—		1
Credit cards	33,746	159		—		—		—		18
Personal, small business and other	169	1		—		—		—		4
Total(7)	34,227	$	209	$	—	$	—	$	—
International
Residential first mortgages	451	$	22	$	—	$	—	$	—	—	%
Credit cards	16,082	71		—		—		2		15
Personal, small business and other	7,336	49		—		—		2		9
Total(7)	23,869	$	142	$	—	$	—	$	4


	For the Three Months Ended September 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	237	$	42	$	—	$	—	$	—	—	%
Home equity loans	62	5		—		—		—		—
Credit cards	48,909	261		—		—		—		17
Personal, small business and other	1,040	12		—		—		—		6
Total(7)	50,248	$	320	$	—	$	—	$	—
International
Residential first mortgages	696	$	21	$	—	$	—	$	—	1	%
Credit cards	25,147	122		—		—		2		14
Personal, small business and other	12,652	106		—		—		2		10
Total(7)	38,495	$	249	$	—	$	—	$	4

(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 to borrowers who have gone through Chapter 7 bankruptcy in the three months ended September 30, 2021. These amounts include $2 million of residential first mortgages that were newly classified as TDRs in the three months ended September 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 $2 million of residential first mortgages to borrowers who have gone through Chapter 7 bankruptcy in the three months ended September 30, 2020. These amounts include $1 million of residential first mortgages that were newly classified as TDRs in the three months ended September 30, 2020, based on previously received OCC guidance.

Consumer Troubled Debt Restructurings(1)


	For the Nine Months Ended September 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	942	$	163	$	—	$	—	$	—	—	%
Home equity loans	138	9		—		—		—		—
Credit cards	129,129	639		—		—		—		17
Personal, small business and other	855	12		—		—		—		3
Total(7)	131,064	$	823	$	—	$	—	$	—
International
Residential first mortgages	1,448	$	74	$	—	$	—	$	—	—	%
Credit cards	58,978	267		—		—		10		14
Personal, small business and other	21,653	162		—		—		5		9
Total(7)	82,079	$	503	$	—	$	—	$	15


	For the Nine Months Ended September 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	812	$	137	$	—	$	—	$	—	—	%
Home equity loans	227	22		—		—		—		1
Credit cards	167,082	786		—		—		—		13
Personal, small business and other	1,816	19		—		—		—		4
Total(7)	169,937	$	964	$	—	$	—	$	—
International
Residential first mortgages	1,874	$	80	$	—	$	—	$	—	4	%
Credit cards	65,738	289		—		—		7		16
Personal, small business and other	31,590	234		—		—		6		10
Total(7)	99,202	$	603	$	—	$	—	$	13

(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 $11 million of residential first mortgages to borrowers who have gone through Chapter 7 bankruptcy in the nine months ended September 30, 2021. These amounts include $4 million of residential first mortgages that were newly classified as TDRs in the nine months ended September 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 $10 million of residential first mortgages to borrowers who have gone through Chapter 7 bankruptcy in the nine months ended September 30, 2020. These amounts include $7 million of residential first mortgages that were newly classified as TDRs in the nine months ended September 30, 2020, based on previously received OCC guidance.

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 September 30,				Nine Months Ended September 30,
In millions of dollars	2021		2020		2021		2020
North America
Residential first mortgages	$	10	$	24	$	43	$	59
Home equity loans	1		6		8		12
Credit cards	60		70		196		251
Personal, small business and other	1		1		3		3
Total	$	72	$	101	$	250	$	325
International
Residential first mortgages	$	9	$	6	$	31	$	17
Credit cards	36		47		133		118
Personal, small business and other	29		20		87		55
Total	$	74	$	73	$	251	$	190

Purchased Credit-Deteriorated Assets


	Three Months Ended September 30, 2021						Three Months Ended December 31, 2020						Three Months Ended September 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	$	—	$	6	$	—	$	—	$	12	$	—	$	—	$	25	$	—
Allowance for credit losses at acquisition date	—		—		—		—		—		—		—		—		—
Discount or premium attributable to non-credit factors	—		—		—		—		—		—		—		—		—
Par value (amortized cost basis)	$	—	$	6	$	—	$	—	$	12	$	—	$	—	$	25	$	—

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

Corporate Loans

Corporate loans represent loans and leases managed by ICG. The following table presents information by corporate loan type:


In millions of dollars	September 30, 2021		December 31, 2020
In North America offices(1)
Commercial and industrial	$	56,496	$	57,731
Financial institutions	62,818		55,809
Mortgage and real estate(2)	63,584		60,675
Installment and other	26,922		26,744
Lease financing	425		673
Total	$	210,245	$	201,632
In offices outside North America(1)
Commercial and industrial	$	105,671	$	104,072
Financial institutions	33,501		32,334
Mortgage and real estate(2)	10,685		11,371
Installment and other	36,054		33,759
Lease financing	47		65
Governments and official institutions	4,311		3,811
Total	$	190,269	$	185,412
Corporate loans, net of unearned income(3)	$	400,514	$	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 ($831) million and ($844) million at September 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.

The Company sold and/or reclassified to held-for-sale $1.0 billion and $4.1 billion of corporate loans during the three and nine months ended September 30, 2021, respectively, and $0.6 billion and $1.7 billion of corporate loans during the three and nine months ended September 30, 2020, respectively. The Company did not have significant purchases of corporate loans classified as held-for-investment for the three and nine months ended September 30, 2021 or 2020.

Corporate Loan Delinquencies and Non-Accrual Details at September 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	$	721	$	237	$	958	$	1,751	$	153,276	$	155,985
Financial institutions	398		174		572		53		95,195		95,820
Mortgage and real estate	189		14		203		418		73,640		74,261
Lease financing	—		—		—		18		454		472
Other	168		55		223		160		66,447		66,830
Loans at fair value											7,146

Total	$	1,476	$	480	$	1,956	$	2,400	$	389,012	$	400,514

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.

Corporate Loans Credit Quality Indicators


	Recorded investment in loans(1)
	Term loans by year of origination												Revolving line of credit arrangements(2)		September 30, 2021
In millions of dollars	2021		2020		2019		2018		2017		Prior
Investment grade(3)
Commercial and industrial(4)	$	44,949	$	6,818	$	5,187	$	4,218	$	3,358	$	9,826	$	29,013	$	103,369
Financial institutions(4)	13,440		3,115		1,650		1,147		631		2,439		61,610		84,032
Mortgage and real estate	3,357		5,754		5,970		3,759		2,122		3,312		1,525		25,799
Other(5)	11,488		4,338		1,830		4,146		553		6,451		31,957		60,763
Total investment grade	$	73,234	$	20,025	$	14,637	$	13,270	$	6,664	$	22,028	$	124,105	$	273,963
Non-investment grade(3)
Accrual
Commercial and industrial(4)	$	15,208	$	3,298	$	3,073	$	2,883	$	1,670	$	4,009	$	20,724	$	50,865
Financial institutions(4)	6,467		535		507		193		91		619		3,325		11,737
Mortgage and real estate	1,661		1,339		2,009		1,469		857		1,027		610		8,972
Other(5)	2,416		434		582		433		240		460		1,797		6,362
Non-accrual
Commercial and industrial(4)	11		142		99		104		108		167		1,120		1,751
Financial institutions	—		—		—		—		—		5		46		51
Mortgage and real estate	16		12		4		81		11		26		267		417
Other(5)	21		11		19		19		26		20		61		177
Total non-investment grade	$	25,800	$	5,771	$	6,293	$	5,182	$	3,003	$	6,333	$	27,950	$	80,332
Non-rated private bank loans managed on a delinquency basis(3)(6)	$	8,007	$	9,233	$	6,277	$	3,074	$	3,087	$	9,395	$	—	$	39,073
Loans at fair value(7)															7,146
Corporate loans, net of unearned income	$	107,041	$	35,029	$	27,207	$	21,526	$	12,754	$	37,756	$	152,055	$	400,514


	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.

Non-Accrual Corporate Loans

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


	September 30, 2021								Three Months Ended September 30, 2021		Nine Months Ended September 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	$	1,751	$	2,331	$	293	$	2,222	$	6	$	31
Financial institutions	53		120		4		55		—		—
Mortgage and real estate	418		668		16		469		—		—
Lease financing	18		19		—		23		—		—
Other	160		251		2		133		2		8
Total non-accrual corporate loans	$	2,400	$	3,389	$	315	$	2,902	$	8	$	39


	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


	September 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	$	801	$	293	$	1,523	$	442
Financial institutions	27		4		90		17
Mortgage and real estate	229		16		246		38

Other	9		2		68		18
Total non-accrual corporate loans with specific allowances	$	1,066	$	315	$	1,927	$	515
Non-accrual corporate loans without specific allowances
Commercial and industrial	$	950			$	1,272
Financial institutions	26				2
Mortgage and real estate	189				259
Lease financing	18				24
Other	151				43
Total non-accrual corporate loans without specific allowances	$	1,334	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 nine months ended September 30, 2020 was $5 million and $24 million, respectively.

N/A Not applicable

Corporate Troubled Debt Restructurings(1)

Three and Nine Months Ended September 30, 2021


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 September 30, 2021
Commercial and industrial	$	2	$	—	$	—	$	2


Mortgage and real estate	1		—		—		1

Other	4		—		—		4
Total	$	7	$	—	$	—	$	7
Nine Months Ended September 30, 2021
Commercial and industrial	$	75	$	—	$	—	$	75

Mortgage and real estate	7		—		—		7
Other	5		1		—		4
Total	$	87	$	1	$	—	$	86

Three and Nine Months Ended September 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 September 30, 2020
Commercial and industrial	$	52	$	—	$	—	$	52

Mortgage and real estate	8		—		—		8

Other	1		1		—		—

Total	$	61	$	1	$	—	$	60
Nine Months Ended September 30, 2020
Commercial and industrial	$	200	$	—	$	—	$	200
Mortgage and real estate	16		—		—		16
Other	5		5		—		—

Total	$	221	$	5	$	—	$	216

(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.

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 September 30, 2021		Three Months Ended September 30, 2021		Nine Months Ended September 30, 2021		TDR balances at September 30, 2020		Three Months Ended September 30, 2020		Nine Months Ended September 30, 2020
Commercial and industrial	$	252	$	—	$	—	$	390	$	—	$	—

Mortgage and real estate	65		—		—		98		—		—

Other	51		—		—		22		—		—
Total(1)	$	368	$	—	$	—	$	510	$	—	$	—

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