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ALLOWANCE FOR CREDIT LOSSES
 9 Months Ended
Sep. 30, 2023
Credit Loss [Abstract]  
ALLOWANCE FOR CREDIT LOSSES ALLOWANCE FOR CREDIT LOSSES
Three Months Ended September 30,Nine Months Ended September 30,
In millions of dollars2023202220232022
Allowance for credit losses on loans (ACLL) at beginning of period$17,496 $15,952 $16,974 $16,455 
Adjustments to opening balance(1)
Financial instruments—TDRs and vintage disclosures(1)
$— $— $(352)$— 
Adjusted ACLL at beginning of period$17,496 $15,952 $16,622 $16,455 
Gross credit losses on loans$(2,000)$(1,237)$(5,513)$(3,689)
Gross recoveries on loans363 350 1,070 1,080 
Net credit losses on loans (NCLs) $(1,637)$(887)$(4,443)$(2,609)
Replenishment of NCLs$1,637 $887 $4,443 $2,609 
Net reserve builds (releases) for loans100 519 787 259 
Net specific reserve builds (releases) for loans79 (78)84 104 
Total provision for credit losses on loans (PCLL)$1,816 $1,328 $5,314 $2,972 
Other, net (see table below)(46)(84)136 (509)
ACLL at end of period$17,629 $16,309 $17,629 $16,309 
Allowance for credit losses on unfunded lending commitments (ACLUC) at beginning of period(2)
$1,862 $2,193 $2,151 $1,871 
Provision (release) for credit losses on unfunded lending commitments(54)(71)(344)244 
Other, net
(2)(33)(1)(26)
ACLUC at end of period(2)
$1,806 $2,089 $1,806 $2,089 
Total allowance for credit losses on loans, leases and unfunded lending commitments(3)
$19,435 $18,398 $19,435 $18,398 

Other, net detailsThree Months Ended September 30,Nine Months Ended September 30,
In millions of dollars2023202220232022
Reclasses of consumer ACLL to HFS(4)
$— $— $— $(350)
FX translation and other(46)(84)136 (159)
Other, net$(46)$(84)$136 $(509)

(1)    See Note 1 in Citi’s First Quarter of 2023 Form 10-Q for a description of the impact of adopting ASU 2022-02 on the ACL.
(2)    Represents additional credit loss reserves for unfunded lending commitments and letters of credit recorded in Other liabilities on the Consolidated Balance Sheet.
(3)    This line does not include $95 million and $698 million, and $115 million and $141 million, of ACL on HTM debt securities and Other assets at September 30, 2023 and 2022, respectively. See below for additional information.
(4)    See Note 2.
Allowance for Credit Losses on Loans and End-of-Period Loans

Three Months Ended
September 30, 2023September 30, 2022
In millions of dollarsCorporateConsumerTotalCorporateConsumerTotal
ACLL at beginning of period$2,630 $14,866 $17,496 $2,969 $12,983 $15,952 
Charge-offs(72)(1,928)(2,000)(43)(1,194)(1,237)
Recoveries14 349 363 37 313 350 
Replenishment of NCLs58 1,579 1,637 6 881 887 
Net reserve builds (releases)25 75 100 145 374 519 
Net specific reserve builds (releases)77 2 79 (104)26 (78)
Other(15)(31)(46)(62)(22)(84)
Ending balance$2,717 $14,912 $17,629 $2,948 $13,361 $16,309 
Nine Months Ended
September 30, 2023September 30, 2022
In millions of dollarsCorporateConsumerTotalCorporateConsumerTotal
ACLL at beginning of period$2,855 $14,119 $16,974 $2,415 $14,040 $16,455 
Adjustments to opening balance:
Financial instruments—TDRs and vintage disclosures(1)
— (352)(352)— — — 
Adjusted ACLL at beginning of period$2,855 $13,767 $16,622 $2,415 $14,040 $16,455 
Charge-offs$(197)$(5,316)$(5,513)$(148)$(3,541)$(3,689)
Recoveries42 1,028 1,070 88 992 1,080 
Replenishment of NCLs155 4,288 4,443 60 2,549 2,609 
Net reserve builds (releases)(184)971 787 394 (135)259 
Net specific reserve builds (releases)49 35 84 169 (65)104 
Other(3)139 136 (30)(479)(509)
Ending balance$2,717 $14,912 $17,629 $2,948 $13,361 $16,309 

September 30, 2023December 31, 2022
In millions of dollarsCorporateConsumerTotalCorporateConsumerTotal
ACLL   
Collectively evaluated(1)
$2,347 $14,872 $17,219 $2,532 $13,521 $16,053 
Individually evaluated 370 40 410 323 596 919 
Purchased credit deteriorated— — — — 2 2 
Total ACLL$2,717 $14,912 $17,629 $2,855 $14,119 $16,974 
Loans, net of unearned income
Collectively evaluated(1)
$279,470 $377,320 $656,790 $282,909 $364,795 $647,704 
Individually evaluated 1,975 58 2,033 1,122 2,921 4,043 
Purchased credit deteriorated— 114 114 — 114 114 
Held at fair value7,189 222 7,411 5,123 237 5,360 
Total loans, net of unearned income$288,634 $377,714 $666,348 $289,154 $368,067 $657,221 

(1)    See Note 1 in Citi’s First Quarter of 2023 Form 10-Q for a description of the effect of adopting ASU 2022-02 on the ACL and for Citi’s updated accounting policy for collectively evaluating the ACL for consumer loans formerly considered TDRs.
3Q23 Changes in the ACL
The total allowance for credit losses on loans, leases and unfunded lending commitments as of September 30, 2023 was $19,435 million, a slight increase from $19,125 million at December 31, 2022. The increase in the ACLL was primarily driven by growth in card balances in Branded cards and Retail services and an increase in transfer risk associated with exposures outside the U.S. driven by safety and soundness considerations under U.S. banking law, partially offset by a decrease in the ACLL of $352 million from the adoption of ASU 2022-02 for the recognition and measurement of TDRs (see Note 1) and improved key macroeconomic variable forecasts.

Consumer ACLL
Citi’s total consumer allowance for credit losses on loans (ACLL) as of September 30, 2023 was $14,912 million, an increase from $14,119 million at December 31, 2022. The increase was primarily driven by growth in U.S. cards balances, partially offset by a decrease to the ACLL of $352 million from the adoption of ASU 2022-02 for the recognition and measurement of TDRs.

Corporate ACLL
Citi’s total corporate ACLL as of September 30, 2023 was $2,717 million, a decrease from $2,855 million at December 31, 2022. The decrease was primarily driven by improved key macroeconomic variable forecasts.

ACLUC
As of September 30, 2023, Citi’s total ACLUC, included in Other liabilities, was $1,806 million, a decrease from $2,151 million at December 31, 2022. The decrease was primarily driven by improved key macroeconomic variable forecasts.
Allowance for Credit Losses on HTM Debt Securities
The allowance for credit losses on HTM debt securities, which the Company has the intent and ability to hold, was $95 million and $120 million as of September 30, 2023 and December 31, 2022, respectively.



Allowance for Credit Losses on Other Assets

Three Months Ended September 30, 2023
In millions of dollarsDeposits with banksSecurities borrowed and purchased under agreements
to resell
All other assets(1)
Total
Allowance for credit losses on other assets
at beginning of quarter		$21 $26 $612 $659 
Gross credit losses— — (19)(19)
Gross recoveries— — 6 6 
Net credit losses (NCLs)$— $— $(13)$(13)
Replenishment of NCLs$— $— $13 $13 
Net reserve builds (releases)6 30 7 43 
Total provision for credit losses$6 $30 $20 $56 
Other, net$— $(3)$(1)$(4)
Allowance for credit losses on other assets
at end of quarter		$27 $53 $618 $698 
Nine Months Ended September 30, 2023
In millions of dollarsDeposits with banksSecurities borrowed and purchased under agreements
to resell
All other assets(1)
Total
Allowance for credit losses on other assets
at beginning of year		$51 $36 $36 $123 
Gross credit losses— — (54)(54)
Gross recoveries— — 11 11 
Net credit losses (NCLs)$— $— $(43)$(43)
Replenishment of NCLs$— $— $43 $43 
Net reserve builds (releases)(23)27 583 587 
Total provision for credit losses$(23)$27 $626 $630 
Other, net
$(1)$(10)$(1)$(12)
Allowance for credit losses on other assets
at end of quarter		$27 $53 $618 $698 

(1)Primarily an increase related to transfer risk associated with exposures outside of the U.S. driven by safety and soundness considerations under U.S. banking law.
Three Months Ended September 30, 2022
In millions of dollarsDeposits with banksSecurities borrowed and purchased under agreements
to resell		Brokerage receivables
All other assets(1)
Total
Allowance for credit losses on other assets
at beginning of quarter		$17 $27 $— $30 $74 
Gross credit losses— — — (4)(4)
Gross recoveries— — — — — 
Net credit losses (NCLs)$— $— $— $(4)$(4)
Replenishment of NCLs$— $— $— $4 $4 
Net reserve builds (releases)23 45 — 1 69 
Total provision for credit losses$23 $45 $— $5 $73 
Other, net$— $(3)$— $1 $(2)
Allowance for credit losses on other assets
at end of quarter		$40 $69 $— $32 $141 
Nine Months Ended September 30, 2022
In millions of dollarsDeposits with banksSecurities borrowed and purchased under agreements
to resell		Brokerage receivables
All other assets(1)
Total
Allowance for credit losses on other assets
at beginning of year		$21 $6 $— $26 $53 
Gross credit losses— — — (19)(19)
Gross recoveries— — — 2 2 
Net credit losses (NCLs)$— $— $— $(17)$(17)
Replenishment of NCLs$— $— $— $17 $17 
Net reserve builds (releases)19 35 — 5 59 
Total provision for credit losses$19 $35 $— $22 $76 
Other, net$— $28 $— $1 $29 
Allowance for credit losses on other assets
at end of quarter		$40 $69 $— $32 $141 

(1)    Primarily accounts receivable.
For ACL on AFS debt securities, see Note 12.