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FAIR VALUE ELECTIONS (Tables)
 9 Months Ended
Sep. 30, 2021
Fair Value, Option, Aggregate Differences [Abstract]  
Schedule of financial instruments selected for changes in fair value gains and losses
The following table presents the changes in fair value of those items for which the fair value option has been elected:
Changes in fair value—gains (losses)
 Three Months Ended September 30,Nine Months Ended September 30,
In millions of dollars2021202020212020
Assets  
Securities borrowed and purchased under agreements to resell$(28)$(27)$(64)$17 
Trading account assets(2)183 151 (278)
Loans 
Certain corporate loans(292)1,003 376 973 
Certain consumer loans— — — — 
Total loans$(292)$1,003 $376 $973 
Other assets 
MSRs$(3)$(22)$49 $(191)
Certain mortgage loans HFS(1)
25 74 69 208 
Total other assets$22 $52 $118 $17 
Total assets$(300)$1,211 $581 $729 
Liabilities 
Interest-bearing deposits$54 $(53)$(39)$(105)
Securities loaned and sold under agreements to repurchase19 482 37 390 
Trading account liabilities5 16 15 (1)
Short-term borrowings(2)
140 (60)332 937 
Long-term debt(2)
975 (1,098)542 865 
Total liabilities$1,193 $(713)$887 $2,086 

(1)Includes gains (losses) associated with interest rate lock commitments for those loans that have been originated and elected under the fair value option.
(2)Includes DVA that is included in AOCI. See Notes 17 and 20 to the Consolidated Financial Statements.
Schedule of fair value of loans and other disclosures for certain credit related products
The following table provides information about certain credit products carried at fair value:

 September 30, 2021December 31, 2020
In millions of dollarsTrading assetsLoansTrading assetsLoans
Carrying amount reported on the Consolidated Balance Sheet$8,382 $7,159 $8,063 $6,854 
Aggregate unpaid principal balance in excess of (less than) fair value(116)(161)(915)(14)
Balance of non-accrual loans or loans more than 90 days past due— 1 — 4 
Aggregate unpaid principal balance in excess of (less than) fair value for non-accrual loans or loans more than 90 days past due— 1 — — 
Schedule of fair value of loans and other disclosures for certain mortgage loans
The following table provides information about certain mortgage loans HFS carried at fair value:
In millions of dollarsSeptember 30,
2021		December 31, 2020
Carrying amount reported on the Consolidated Balance Sheet$2,630 $1,742 
Aggregate fair value in excess of (less than) unpaid principal balance77 91 
Balance of non-accrual loans or loans more than 90 days past due1 — 
Aggregate unpaid principal balance in excess of fair value for non-accrual loans or loans more than 90 days past due— — 
Schedule of carrying value of structured notes, disaggregated by type of embedded derivative instrument
The following table provides information about the carrying value of notes carried at fair value, disaggregated by type of risk:

In billions of dollarsSeptember 30, 2021December 31, 2020
Interest rate linked$38.3 $34.5 
Foreign exchange linked0.2 1.2 
Equity linked32.8 27.3 
Commodity linked4.0 1.4 
Credit linked2.9 2.6 
Total$78.2 $67.0 
Schedule of long-term debt carried at fair value, excluding debt issued by consolidated VIEs
The following table provides information about long-term debt carried at fair value:

In millions of dollarsSeptember 30, 2021December 31, 2020
Carrying amount reported on the Consolidated Balance Sheet$78,178 $67,063 
Aggregate unpaid principal balance in excess of (less than) fair value(3,019)(5,130)
Schedule of short-term borrowings carried at fair value
The following table provides information about short-term borrowings carried at fair value:

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In millions of dollarsSeptember 30, 2021December 31, 2020
Carrying amount reported on the Consolidated Balance Sheet$8,814 $4,683 
Aggregate unpaid principal balance in excess of (less than) fair value— 68