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

9 Months Ended

Sep. 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 September 30, 2021								Nine Months Ended September 30, 2021
In millions of dollars	ICG		GCB		Corporate/Other		Total		ICG		GCB		Corporate/Other		Total
Investment banking	$	1,493	$	—	$	—	$	1,493	$	4,503	$	—	$	—	$	4,503
Brokerage commissions	483		290		—		773		1,626		910		—		2,536
Credit- and bank-card income
Interchange fees	225		2,317		—		2,542		580		6,496		—		7,076
Card-related loan fees	7		164		—		171		19		511		—		530
Card rewards and partner payments(1)	(119)		(2,541)		—		(2,660)		(298)		(7,048)		—		(7,346)
Deposit-related fees(2)	270		69		—		339		774		219		—		993
Transactional service fees	257		24		—		281		749		74		—		823
Corporate finance(3)	214		—		—		214		552		—		—		552
Insurance distribution revenue	3		114		—		117		9		356		—		365
Insurance premiums	—		25		—		25		—		75		—		75
Loan servicing	10		11		3		24		32		28		11		71
Other	19		61		—		80		87		175		3		265
Total commissions and fees(4)	$	2,862	$	534	$	3	$	3,399	$	8,633	$	1,796	$	14	$	10,443

	Three Months Ended September 30, 2020								Nine Months Ended September 30, 2020
In millions of dollars	ICG		GCB		Corporate/Other		Total		ICG		GCB		Corporate/Other		Total
Investment banking	$	1,076	$	—	$	—	$	1,076	$	3,474	$	—	$	—	$	3,474
Brokerage commissions	486		260		—		746		1,545		713		—		2,258
Credit- and bank-card income
Interchange fees	158		1,842		—		2,000		542		5,264		—		5,806
Card-related loan fees	4		157		—		161		18		455		—		473
Card rewards and partner payments(1)	(73)		(2,073)		—		(2,146)		(292)		(5,911)		—		(6,203)
Deposit-related fees(2)	246		79		—		325		699		279		—		978
Transactional service fees	217		20		—		237		659		64		—		723
Corporate finance(3)	77		—		—		77		372		—		—		372
Insurance distribution revenue	4		129		—		133		9		367		—		376
Insurance premiums	—		25		—		25		—		99		—		99
Loan servicing	16		4		10		30		54		26		20		100
Other	34		55		—		89		91		157		3		251
Total commissions and fees(4)	$	2,245	$	498	$	10	$	2,753	$	7,171	$	1,513	$	23	$	8,707

(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 $28 million and $23 million for the three months ended September 30, 2021 and 2020, respectively, and $75 million and $74 million for the nine months ended September 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 include $(2,208) million and $(1,816) million not accounted for under ASC 606, Revenue from Contracts with Customers, for the three months ended September 30, 2021 and 2020, respectively, and $(6,031) million and $(5,044) million for the nine months ended September 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 September 30, 2021								Nine Months Ended September 30, 2021
In millions of dollars	ICG		GCB		Corporate/Other		Total		ICG		GCB		Corporate/Other		Total
Custody fees	$	471	$	7	$	1	$	479	$	1,419	$	19	$	1	$	1,439
Fiduciary fees	204		175		3		382		596		511		6		1,113
Guarantee fees	144		1		1		146		429		5		4		438
Total administration and other fiduciary fees(1)	$	819	$	183	$	5	$	1,007	$	2,444	$	535	$	11	$	2,990

	Three Months Ended September 30, 2020								Nine Months Ended September 30, 2020
In millions of dollars	ICG		GCB		Corporate/Other		Total		ICG		GCB		Corporate/Other		Total
Custody fees	$	427	$	8	$	2	$	437	$	1,165	$	22	$	38	$	1,225
Fiduciary fees	167		153		—		320		497		441		—		938
Guarantee fees	132		2		1		135		393		5		4		402
Total administration and other fiduciary fees(1)	$	726	$	163	$	3	$	892	$	2,055	$	468	$	42	$	2,565

(1)    Administration and other fiduciary fees include $146 million and $135 million for the three months ended September 30, 2021 and 2020, respectively, and $438 million and $402 million for the nine months ended September 30, 2021 and 2020, respectively, that are not accounted for under ASC 606, Revenue from Contracts with Customers. These generally include guarantee fees.