GUARANTEES AND COMMITMENTS (Tables)

3 Months Ended

Mar. 31, 2023

Guarantees, Leases And Commitments [Abstract]

Schedule of guarantor obligations

The following tables present information about Citi’s guarantees at March 31, 2023 and December 31, 2022:

	Maximum potential amount of future payments
In billions of dollars at March 31, 2023	Expire within 1 year		Expire after 1 year		Total amount outstanding		Carrying value (in millions of dollars)
Financial standby letters of credit	$	23.3	$	67.2	$	90.5	$	805
Performance guarantees	4.8		5.7		10.5		52
Derivative instruments considered to be guarantees	22.9		29.3		52.2		372
Loans sold with recourse	—		1.7		1.7		13
Securities lending indemnifications(1)	108.7		—		108.7		—
Credit card merchant processing(2)	121.7		—		121.7		1
Credit card arrangements with partners	0.1		0.4		0.5		7
Other	0.2		8.4		8.6		41
Total	$	281.7	$	112.7	$	394.4	$	1,291

	Maximum potential amount of future payments
In billions of dollars at December 31, 2022	Expire within 1 year		Expire after 1 year		Total amount outstanding		Carrying value (in millions of dollars)
Financial standby letters of credit	$	31.3	$	58.3	$	89.6	$	905
Performance guarantees	6.1		5.6		11.7		65
Derivative instruments considered to be guarantees	18.5		30.0		48.5		353
Loans sold with recourse	—		1.7		1.7		13
Securities lending indemnifications(1)	95.9		—		95.9		—
Credit card merchant processing(2)	129.6		—		129.6		1
Credit card arrangements with partners	—		0.6		0.6		7
Other	0.1		8.4		8.5		32
Total	$	281.5	$	104.6	$	386.1	$	1,376

(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 March 31, 2023 and December 31, 2022, this maximum potential exposure was estimated to be approximately $122 billion and $130 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 March 31, 2023	Investment grade		Non-investment grade		Not rated		Total
Financial standby letters of credit	$	78.0	$	10.2	$	2.3	$	90.5
Loans sold with recourse	—		—		1.7		1.7
Credit card arrangements with partners	—		—		0.5		0.5
Other	—		8.6		—		8.6
Total	$	78.0	$	18.8	$	4.5	$	101.3

	Maximum potential amount of future payments
In billions of dollars at December 31, 2022	Investment grade		Non-investment grade		Not rated		Total
Financial standby letters of credit	$	77.9	$	10.4	$	1.3	$	89.6
Loans sold with recourse	—		—		1.7		1.7
Credit card arrangements with partners	—		—		0.6		0.6
Other	—		8.5		—		8.5
Total	$	77.9	$	18.9	$	3.6	$	100.4

Schedule of credit commitments

The table below summarizes Citigroup’s credit commitments:

In millions of dollars	U.S.		Outside of  U.S.(1)		March 31, 2023		December 31, 2022
Commercial and similar letters of credit	$	663	$	5,333	$	5,996	$	5,316
One- to four-family residential mortgages	1,200		1,179		2,379		2,394
Revolving open-end loans secured by one- to four-family residential properties	5,772		686		6,458		6,380
Commercial real estate, construction and land development	12,552		1,602		14,154		15,170
Credit card lines	612,236		76,103		688,339		683,232
Commercial and other consumer loan commitments	187,295		106,002		293,297		297,399
Other commitments and contingencies	5,312		178		5,490		5,673
Total	$	825,030	$	191,083	$	1,016,113	$	1,015,564

(1)Consumer commitments related to the business HFS countries under sales agreements are reflected in their original categories until the respective sales are completed.

Schedule of restricted cash

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

In millions of dollars	March 31, 2023		December 31, 2022
Cash and due from banks	$	4,211	$	4,820
Deposits with banks, net of allowance	12,394		12,156
Total	$	16,605	$	16,976