GUARANTEES, LEASES AND COMMITMENTS (Tables)

9 Months Ended

Sep. 30, 2021

Guarantees, Leases And Commitments [Abstract]

Schedule of guarantor obligations

The following tables present information about Citi’s guarantees at September 30, 2021 and December 31, 2020:

	Maximum potential amount of future payments
In billions of dollars at September 30, 2021	Expire within 1 year		Expire after 1 year		Total amount outstanding		Carrying value  (in millions of dollars)
Financial standby letters of credit	$	27.6	$	64.9	$	92.5	$	937
Performance guarantees	6.5		6.1		12.6		46
Derivative instruments considered to be guarantees	17.0		54.9		71.9		360
Loans sold with recourse	—		1.7		1.7		15
Securities lending indemnifications(1)	131.7		—		131.7		—
Credit card merchant processing(2)	114.6		—		114.6		1
Credit card arrangements with partners	—		0.8		0.8		7
Custody indemnifications and other	—		24.5		24.5		37
Total	$	297.4	$	152.9	$	450.3	$	1,403

	Maximum potential amount of future payments
In billions of dollars at December 31, 2020	Expire within 1 year		Expire after 1 year		Total amount outstanding		Carrying value  (in millions of dollars)
Financial standby letters of credit	$	25.3	$	68.4	$	93.7	$	1,407
Performance guarantees	7.3		6.0		13.3		72
Derivative instruments considered to be guarantees	20.0		60.9		80.9		671
Loans sold with recourse	—		1.2		1.2		9
Securities lending indemnifications(1)	112.2		—		112.2		—
Credit card merchant processing(2)	101.9		—		101.9		3
Credit card arrangements with partners	0.2		0.8		1.0		7
Custody indemnifications and other	—		37.3		37.3		35
Total	$	266.9	$	174.6	$	441.5	$	2,204

(1)The carrying values of securities lending indemnifications were not material for either period presented, as the probability of potential liabilities arising from these guarantees is minimal.

(2)At September 30, 2021 and December 31, 2020, this maximum potential exposure was estimated to be $115 billion and $102 billion, respectively. However, Citi believes that the maximum exposure is not representative of the actual potential loss exposure based on its historical experience. This contingent liability is unlikely to arise, as most products and services are delivered when purchased and amounts are refunded when items are returned to merchants.

Schedule of guarantor obligations by credit ratings

Presented in the tables below are the maximum potential amounts of future payments that are classified based on internal and external credit ratings. The determination of the maximum potential future payments is based on the notional amount of the guarantees without consideration of possible recoveries under recourse provisions or from collateral held or pledged. As such, Citi believes such amounts bear no relationship to the anticipated losses, if any, on these guarantees.

	Maximum potential amount of future payments
In billions of dollars at September 30, 2021	Investment grade		Non-investment grade		Not rated		Total
Financial standby letters of credit	$	80.1	$	12.2	$	0.2	$	92.5
Performance guarantees	10.0		2.6		—		12.6
Derivative instruments deemed to be guarantees	—		—		71.9		71.9
Loans sold with recourse	—		—		1.7		1.7
Securities lending indemnifications	—		—		131.7		131.7
Credit card merchant processing	—		—		114.6		114.6
Credit card arrangements with partners	—		—		0.8		0.8
Custody indemnifications and other	11.8		12.7		—		24.5
Total	$	101.9	$	27.5	$	320.9	$	450.3

	Maximum potential amount of future payments
In billions of dollars at December 31, 2020	Investment grade		Non-investment grade		Not rated		Total
Financial standby letters of credit	$	78.5	$	14.6	$	0.6	$	93.7
Performance guarantees	9.8		3.0		0.5		13.3
Derivative instruments deemed to be guarantees	—		—		80.9		80.9
Loans sold with recourse	—		—		1.2		1.2
Securities lending indemnifications	—		—		112.2		112.2
Credit card merchant processing	—		—		101.9		101.9
Credit card arrangements with partners	—		—		1.0		1.0
Custody indemnifications and other	24.9		12.4		—		37.3
Total	$	113.2	$	30.0	$	298.3	$	441.5

Schedule of credit commitments

The table below summarizes Citigroup’s credit commitments:

In millions of dollars	U.S.		Outside of  U.S.		September 30, 2021		December 31, 2020
Commercial and similar letters of credit	$	696	$	5,713	$	6,409	$	5,221
One- to four-family residential mortgages	1,735		2,756		4,491		5,002
Revolving open-end loans secured by one- to four-family residential properties	7,225		1,130		8,355		9,626
Commercial real estate, construction and land development	14,267		2,733		17,000		12,867
Credit card lines	604,350		100,607		704,957		710,399
Commercial and other consumer loan commitments	214,515		118,283		332,798		322,458
Other commitments and contingencies	5,437		212		5,649		5,715
Total	$	848,225	$	231,434	$	1,079,659	$	1,071,288

Schedule of restricted cash

Restricted cash is included on the Consolidated Balance Sheet within the following balance sheet lines:

In millions of dollars	September 30, 2021		December 31, 2020
Cash and due from banks	$	2,733	$	3,774
Deposits with banks, net of allowance	13,900		14,203
Total	$	16,633	$	17,977