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LOANS (Tables)

12 Months Ended

Dec. 31, 2023

Schedule of loan delinquency and non-accrual details

Consumer Loans, Delinquencies and Non-Accrual Status at December 31, 2023


In millions of dollars	Total current(1)(2)		30–89 days past due(3)		≥ 90 days past due(3)		Past due government guaranteed(4)		Total loans		Non-accrual loans for which there is no ACLL		Non-accrual loans for which there is an ACLL		Total non-accrual		90 days past due and accruing
In North America offices(5)
Residential first mortgages(6)	$	107,720	$	462	$	294	$	235	$	108,711	$	105	$	384	$	489	$	120
Home equity loans(7)(8)	3,471		36		85		—		3,592		48		126		174		—
Credit cards	159,966		2,293		2,461		—		164,720		—		—		—		2,461
Personal, small business and other(9)	35,970		104		57		4		36,135		6		59		65		5
Total	$	307,127	$	2,895	$	2,897	$	239	$	313,158	$	159	$	569	$	728	$	2,586
In offices outside North America(5)
Residential mortgages(6)	$	26,309	$	48	$	69	$	—	$	26,426	$	—	$	243	$	243	$	—
Credit cards	13,797		209		227		—		14,233		—		211		211		88
Personal, small business and other(9)	35,233		107		40		—		35,380		—		133		133		—
Total	$	75,339	$	364	$	336	$	—	$	76,039	$	—	$	587	$	587	$	88
Total Citigroup(10)(11)	$	382,466	$	3,259	$	3,233	$	239	$	389,197	$	159	$	1,156	$	1,315	$	2,674

Consumer Loans, Delinquencies and Non-Accrual Status at December 31, 2022


In millions of dollars	Total current(1)(2)		30–89 days past due(3)		≥ 90 days past due(3)		Past due government guaranteed(4)		Total loans		Non-accrual loans for which there is no ACLL		Non-accrual loans for which there is an ACLL		Total non-accrual		90 days past due and accruing
In North America offices(5)
Residential first mortgages(6)	$	95,023	$	421	$	316	$	279	$	96,039	$	86	$	434	$	520	$	163
Home equity loans(7)(8)	4,407		38		135		—		4,580		51		151		202		—
Credit cards	147,717		1,511		1,415		—		150,643		—		—		—		1,415
Personal, small business and other(9)	37,635		88		22		7		37,752		3		23		26		11
Total	$	284,782	$	2,058	$	1,888	$	286	$	289,014	$	140	$	608	$	748	$	1,589
In offices outside North America(5)
Residential mortgages(6)	$	27,946	$	62	$	106	$	—	$	28,114	$	—	$	305	$	305	$	13
Credit cards	12,659		147		149		—		12,955		—		127		127		56
Personal, small business and other(9)	37,869		105		10		—		37,984		—		137		137		—
Total	$	78,474	$	314	$	265	$	—	$	79,053	$	—	$	569	$	569	$	69
Total Citigroup(10)(11)	$	363,256	$	2,372	$	2,153	$	286	$	368,067	$	140	$	1,177	$	1,317	$	1,658

(1)Loans less than 30 days past due are presented as current.

(2)Includes $313 million and $237 million at December 31, 2023 and 2022, respectively, of residential first mortgages recorded at fair value.

(3)Excludes loans guaranteed by U.S. government-sponsored agencies. Excludes delinquencies on $29.2 billion and $17.0 billion of classifiably managed Private Bank loans in North America and outside North America, respectively, at December 31, 2023. Excludes delinquencies on $31.5 billion and $17.8 billion of classifiably managed Private Bank loans in North America and outside North America, respectively, at December 31, 2022.

(4)Consists of loans that are guaranteed by U.S. government-sponsored agencies that are 30–89 days past due of $0.1 billion and $0.1 billion and 90 days or more past due of $0.1 billion and $0.2 billion at December 31, 2023 and 2022, respectively.

(5)North America includes the U.S., Canada and Puerto Rico. Mexico is included in offices outside North America.

(6)Includes approximately $0.1 billion and $0.0 billion of residential first mortgage loans in process of foreclosure in North America and outside North America, respectively, and $19.9 billion of residential mortgages outside North America related to Wealth at December 31, 2023. Includes approximately $0.1 billion and $0.0 billion of residential first mortgage loans in process of foreclosure in North America and outside North America, respectively, and $19.8 billion of residential mortgages outside North America related to Wealth at December 31, 2022.

(7)Includes approximately $0.0 billion and $0.1 billion at December 31, 2023 and 2022, respectively, of home equity loans in process of foreclosure.

(8)Fixed-rate home equity loans and loans extended under home equity lines of credit, which are typically in junior lien positions.

(9)As of December 31, 2023, Wealth in North America includes $31.6 billion of loans, of which $29.2 billion are classifiably managed with 92% rated investment grade, and Wealth outside North America includes $24.9 billion of loans, of which $17.0 billion are classifiably managed with 74% rated investment grade. As of December 31, 2022, Wealth in North America includes $34.0 billion of loans, of which $31.5 billion are classifiably managed with 98% rated investment grade, and Wealth outside North America includes $26.6 billion of loans, of which $17.8 billion are classifiably managed with 94% rated investment grade. Such loans are presented as “current” above.

(10)Consumer loans were net of unearned income of $802 million and $712 million at December 31, 2023 and 2022, respectively. Unearned income on consumer loans primarily represents unamortized origination fees and costs, premiums and discounts.

(11)Not included in the balances above is approximately $1 billion and $1 billion of accrued interest receivable at December 31, 2023 and 2022, respectively, which is included in Other assets on the Consolidated Balance Sheet, except for credit card loans (which include accrued interest and fees). During the years ended December 31, 2023 and 2022, the Company reversed accrued interest (primarily related to credit cards) of approximately $1.1 billion and $0.6 billion, respectively. These reversals of accrued interest are reflected as a reduction to Interest income in the Consolidated Statement of Income.

Interest Income Recognized for Non-Accrual Consumer Loans


	For the years ended December 31,
In millions of dollars	2023		2022
In North America offices(1)
Residential first mortgages	$	11	$	12
Home equity loans	6		5

Personal, small business and other	3		2
Total	$	20	$	19
In offices outside North America(1)
Residential mortgages	$	10	$	4

Personal, small business and other	—		4
Total	$	10	$	8
Total Citigroup	$	30	$	27

(1)North America includes the U.S., Canada and Puerto Rico. Mexico is included in offices outside North America.

Schedule of loans credit quality indicators

The following tables provide details on the FICO scores for Citi’s U.S. consumer loan portfolio based on end-of-period receivables by year of origination. FICO scores are updated monthly for substantially all of the portfolio or, otherwise, on a quarterly basis for the remaining portfolio. Loans that did not have FICO scores as of the prior period have been updated with FICO scores as they become available.

With respect to Citi’s consumer loan portfolio outside of the U.S. as of December 31, 2023 and 2022 ($77.5 billion and $80.5 billion, respectively), various country-specific or regional credit risk metrics and acquisition and behavior scoring models are leveraged as one of the factors to evaluate the credit quality of customers (see “Consumer Loans and Ratios Outside of North America” below). As a result, details of relevant credit quality indicators for those loans are not comparable to the below FICO score distribution for the U.S. portfolio.


FICO score distribution—U.S. portfolio(1)	December 31, 2023
In millions of dollars	Less than 680		680 to 760		Greater than 760		Classifiably managed(2)		FICO not available(3)		Total loans
Residential first mortgages
2023	$	373	$	5,396	$	11,461
2022	655		5,976		13,965
2021	560		5,430		12,481
2020	376		3,945		10,881
2019	296		2,214		5,276
Prior	1,934		6,406		13,323
Total residential first mortgages	$	4,194	$	29,367	$	67,387			$	7,763	$	108,711
Home equity line of credit (pre-reset)	$	425	$	1,174	$	1,479
Home equity line of credit (post-reset)	79		75		52
Home equity term loans	80		124		99
2023	—		—		—
2022	—		—		—
2021	—		—		1
2020	1		2		2
2019	1		1		1
Prior	78		121		95
Total home equity loans	$	584	$	1,373	$	1,630			$	5	$	3,592
Credit cards	$	32,500	$	63,334	$	64,712
Revolving loans converted to term loans(4)	1,154		401		54
Total credit cards(5)	$	33,654	$	63,735	$	64,766			$	1,955	$	164,110
Personal, small business and other
2023	$	138	$	438	$	851
2022	279		375		484
2021	69		88		106
2020	8		9		12
2019	7		6		7
Prior	132		175		126
Total personal, small business and other(6)(7)	$	633	$	1,091	$	1,586	$	29,209	$	2,739	$	35,258
Total	$	39,065	$	95,566	$	135,369	$	29,209	$	12,462	$	311,671


FICO score distribution—U.S. portfolio(1)	December 31, 2022
In millions of dollars	Less than 680		680 to 760		Greater than 760		Classifiably managed(2)		FICO not available(3)		Total loans
Residential first mortgages
2022	$	691	$	7,530	$	12,928
2021	639		5,933		12,672
2020	431		4,621		10,936
2019	321		2,505		5,445
2018	302		1,072		1,899
Prior	2,020		6,551		12,649
Total residential first mortgages	$	4,404	$	28,212	$	56,529			$	6,894	$	96,039
Home equity line of credit (pre-reset)	$	552	$	1,536	$	1,876
Home equity line of credit (post-reset)	62		65		40
Home equity term loans	106		151		117
2022	—		—		—
2021	—		1		1
2020	1		2		2
2019	1		2		2
2018	1		2		1
Prior	103		144		111
Total home equity loans	$	720	$	1,752	$	2,033			$	75	$	4,580
Credit cards	$	27,901	$	58,213	$	60,896
Revolving loans converted to term loans(4)	766		354		54
Total credit cards(5)	$	28,667	$	58,567	$	60,950			$	1,914	$	150,098
Personal, small business and other
2022	$	247	$	546	$	800
2021	96		170		210
2020	15		20		30
2019	21		23		28
2018	10		10		9
Prior	126		190		144
Total personal, small business and other(6)(7)	$	515	$	959	$	1,221	$	31,478	$	2,639	$	36,812
Total	$	34,306	$	89,490	$	120,733	$	31,478	$	11,522	$	287,529

(1)The FICO bands in the tables are consistent with general industry peer presentations.

(2)These personal, small business and other loans without a FICO score available include $29.2 billion and $31.5 billion of Private Bank loans as of December 31, 2023 and 2022, respectively, which are classifiably managed within Wealth and are primarily evaluated for credit risk based on their internal risk ratings. As of December 31, 2023 and 2022, approximately 92% and 98% of these loans, respectively, were rated investment grade.

(3)FICO scores not available related to loans guaranteed by government-sponsored enterprises for which FICO scores are generally not utilized.

(4)Not included in the tables above are $51 million and $75 million of revolving credit card loans outside of the U.S. that were converted to term loans as of December 31, 2023 and 2022, respectively.

(5)Excludes $610 million and $545 million of balances related to Canada for December 31, 2023 and 2022, respectively.

(6)Excludes $877 million and $940 million of balances related to Canada for December 31, 2023 and 2022, respectively.

(7)Includes approximately $37 million and $67 million of personal revolving loans that were converted to term loans for December 31, 2023 and 2022, respectively.

The following table provides details on gross credit losses recognized during the year ended December 31, 2023, by year of loan origination:


In millions of dollars	For the year ended December 31, 2023
Residential first mortgages
2023	$	—
2022	2
2021	1
2020	1
2019	5
Prior	41
Total residential first mortgages	$	50
Home equity line of credit (pre-reset)	$	3
Home equity line of credit (post-reset)	—
Home equity term loans	4






Total home equity loans	$	7
Credit cards	$	6,575
Revolving loans converted to term loans	184
Total credit cards	$	6,759

Personal, small business and other
2023	$	162
2022	202
2021	106
2020	44
2019	51
Prior	172
Total personal, small business and other	$	737
Total Citigroup	$	7,553


LTV distribution—U.S. portfolio	December 31, 2023
In millions of dollars	Less than or equal to 80%		> 80% but less than or equal to 100%		Greater than 100%		LTV not available(1)		Total
Residential first mortgages
2023	$	13,907	$	3,769	$	3
2022	17,736		3,900		52
2021	18,795		728		33
2020	16,094		306		1
2019	8,198		191		26
Prior	23,120		191		23
Total residential first mortgages	$	97,850	$	9,085	$	138	$	1,638	$	108,711
Home equity loans (pre-reset)	$	2,964	$	29	$	57
Home equity loans (post-reset)	476		5		12
Total home equity loans	$	3,440	$	34	$	69	$	49	$	3,592
Total	$	101,290	$	9,119	$	207	$	1,687	$	112,303


LTV distribution—U.S. portfolio	December 31, 2022
In millions of dollars	Less than or equal to 80%		> 80% but less than or equal to 100%		Greater than 100%		LTV not available(1)		Total
Residential first mortgages
2022	$	15,644	$	6,497	$	40
2021	19,104		1,227		33
2020	16,935		267		1
2019	8,789		140		23
2018	3,598		74		9
Prior	22,367		132		74
Total residential first mortgages	$	86,437	$	8,337	$	180	$	1,085	$	96,039
Home equity loans (pre-reset)	$	3,677	$	36	$	56
Home equity loans (post-reset)	627		12		27
Total home equity loans	$	4,304	$	48	$	83	$	145	$	4,580
Total	$	90,741	$	8,385	$	263	$	1,230	$	100,619

(1)Residential first mortgages with no LTV information available include government-guaranteed loans that do not require LTV information for credit risk assessment and fair value loans.

The following tables provide details on the LTV ratios for Citi’s consumer mortgage portfolio outside of the U.S. by year of origination:


LTV distribution—outside of U.S. portfolio(1)	December 31, 2023
In millions of dollars	Less than or equal to 80%		> 80% but less than or equal to 100%		Greater than 100%		LTV not available		Total
Residential mortgages
2023	$	2,756	$	1,007	$	112
2022	3,229		807		439
2021	3,257		754		382
2020	2,286		454		62
2019	2,525		84		2
Prior	8,000		84		3
Total	$	22,053	$	3,190	$	1,000	$	183	$	26,426


LTV distribution—outside of U.S. portfolio(1)	December 31, 2022
In millions of dollars	Less than or equal to 80%		> 80% but less than or equal to 100%		Greater than 100%		LTV not available		Total
Residential mortgages
2022	$	3,106	$	975	$	294
2021	4,144		964		273
2020	3,293		502		25
2019	3,048		92		1
2018	2,074		48		—
Prior	9,201		36		7
Total	$	24,866	$	2,617	$	600	$	31	$	28,114

(1)Mortgage portfolios outside of the U.S. are primarily in Wealth. As of December 31, 2023 and 2022, mortgage portfolios outside of the U.S. have an average LTV of approximately 55% and 51%, respectively.

Consumer Loans and Ratios Outside of North America


					Delinquency-managed loans and ratios
In millions of dollars at December 31, 2023	Total loans outside of North America(1)		Classifiably managed loans(2)		Delinquency-managed loans		30–89 days past due ratio		≥ 90 days past due ratio		4Q23 NCL ratio
Residential mortgages(3)	$	26,426	$	—	$	26,426	0.18	%	0.26	%	0.06	%
Credit cards	14,233		—		14,233		1.47		1.59		5.87
Personal, small business and other(4)	35,380		17,007		18,373		0.58		0.22		1.03
Total	$	76,039	$	17,007	$	59,032	0.62	%	0.57	%	1.58	%

					Delinquency-managed loans and ratios
In millions of dollars at December 31, 2022	Total loans outside of North America(1)		Classifiably managed loans(2)		Delinquency-managed loans		30–89 days past due ratio		≥ 90 days past due ratio		4Q22 NCL ratio
Residential mortgages(3)	$	28,114	$	—	$	28,114	0.22	%	0.38	%	0.10	%
Credit cards	12,955		—		12,955		1.13		1.15		3.18
Personal, small business and other(4)	37,984		17,762		20,222		0.52		0.05		0.76
Total	$	79,053	$	17,762	$	61,291	0.51	%	0.43	%	0.91	%

(1) Mexico is included in offices outside of North America.

(2) Classifiably managed loans are primarily evaluated for credit risk based on their internal risk classification. As of December 31, 2023 and 2022, approximately 74% and 94% of these loans, respectively, were rated investment grade.

(3) Includes $19.9 billion and $19.8 billion as of December 31, 2023 and 2022, respectively, of residential mortgages related to Wealth.

(4) Includes $24.9 billion and $26.6 billion as of December 31, 2023 and 2022, respectively, of loans related to Wealth.

Schedule of loan modifications

The following table provides details on permanent consumer loan modifications granted during the year ended December 31, 2023 to borrowers experiencing financial difficulty by type of modification granted and the financial effect of those modifications:


					For the year ended December 31, 2023
In millions of dollars, except weighted averages	Modifications as % of loans		Total modifications balance at December 31, 2023(1)(2)(3)		Interest rate reduction		Term extension		Payment delay		Combination: interest rate reduction and term extension		Combination: term extension and payment delay		Weighted- average interest rate reduction %		Weighted- average term extension (months)	Weighted- average delay in payments (months)
In North America offices(4)
Residential first mortgages(5)	0.15	%	$	164	$	3	$	63	$	89	$	9	$	—	1	%	202	9
Home equity loans	0.58		21		—		—		9		12		—		2		121	9
Credit cards	0.63		1,039		1,039		—		—		—		—		23		—	—
Personal, small business and other	0.04		14		2		—		—		12		—		6		15	—
Total	0.40	%	$	1,238	$	1,044	$	63	$	98	$	33	$	—
In offices outside North America(4)
Residential mortgages	1.26	%	$	334	$	—	$	—	$	33	$	2	$	299	2	%	4	4
Credit cards	0.30		43		42		—		—		1		—		18		37	—
Personal, small business and other	0.08		27		5		7		—		15		—		7		19	—
Total	0.53	%	$	404	$	47	$	7	$	33	$	18	$	299

(1) The above table reflects activity for loans outstanding as of the end of the reporting period. During the year ended December 31, 2023, Citi granted forgiveness of $50 million in credit card loans and $2 million in personal, small business and other loans. As a result, there were no outstanding balances as of December 31, 2023.

(2) Commitments to lend to borrowers experiencing financial difficulty that were granted modifications included in the table above were immaterial at December 31, 2023.

(3) For major consumer portfolios, the ACLL is based on macroeconomic-sensitive models that rely on historical performance and macroeconomic scenarios to forecast expected credit losses. Modifications of consumer loans impact expected credit losses by affecting the likelihood of default..

(4) North America includes the U.S., Canada and Puerto Rico. Mexico is included in offices outside North America.

(5) Excludes residential first mortgages discharged in Chapter 7 bankruptcy in the year ended December 31, 2023.


	For the year ended December 31, 2022
In millions of dollars, except number of loans modified	Number of loans modified	Post- modification recorded investment(2)(3)		Deferred principal(4)		Contingent principal forgiveness(5)		Principal forgiveness(6)		Average interest rate reduction
In North America offices(7)
Residential first mortgages	1,133	$	263	$	—	$	—	$	—	—	%
Home equity loans	451	40		—		—		—		—
Credit cards	176,252	775		—		—		—		18
Personal, small business and other	575	7		—		—		—		5
Total(8)	178,411	$	1,085	$	—	$	—	$	—
In offices outside North America(7)
Residential mortgages	683	$	21	$	—	$	—	$	—	—	%
Credit cards	16,006	68		—		—		1		25
Personal, small business and other	2,432	29		—		—		1		8
Total(8)	19,121	$	118	$	—	$	—	$	2

(1)The above table does not include loan modifications that meet the TDR relief criteria in the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) or the interagency guidance.

(2)Post-modification balances include past-due amounts that are capitalized at the modification date.

(3)Post-modification balances in North America include $5 million of residential first mortgages to borrowers who have gone through Chapter 7 bankruptcy in the year ended December 31, 2022. These amounts include $3.8 million of residential first mortgages that were newly classified as TDRs during 2022, based on previously received OCC guidance. The remaining amounts were already classified as TDRs before being discharged in Chapter 7 bankruptcy.

(4)Represents the portion of contractual loan principal that is non-interest bearing, but still due from the borrower. Such deferred principal is charged off at the time of permanent modification to the extent that the related loan balance exceeds the underlying collateral value.

(5)Represents the portion of contractual loan principal that is non-interest bearing and, depending on borrower performance, eligible for forgiveness.

(6)Represents the portion of contractual loan principal that was forgiven at the time of permanent modification.

(7)North America includes the U.S., Canada and Puerto Rico. Mexico is included in offices outside North America.

(8) The above table reflects activity for restructured loans that were considered TDRs during the year.

The following table presents the delinquencies and gross credit losses of permanently modified consumer loans to borrowers experiencing financial difficulty. It includes loans that were modified during the year ended December 31, 2023:


	As of December 31, 2023
In millions of dollars	Total		Current		30–89 days past due		90+ days past due		Gross credit losses
In North America offices(1)
Residential first mortgages	$	164	$	70	$	22	$	72	$	—
Home equity loans	21		14		1		6		—
Credit cards	1,039		740		179		120		204
Personal, small business and other	14		12		1		1		1
Total(2)(3)	$	1,238	$	836	$	203	$	199	$	205
In offices outside North America(1)
Residential mortgages	$	334	$	331	$	2	$	1	$	—

Credit cards	43		37		3		3		4
Personal, small business and other	27		24		3		—		1
Total(2)(3)	$	404	$	392	$	8	$	4	$	5

(1) North America includes the U.S., Canada and Puerto Rico. Mexico is included in offices outside North America.

(2) Typically, upon modification a loan re-ages to current. However, FFIEC guidelines for re-aging certain loans require that at least three consecutive minimum monthly payments, or the equivalent amount, be received. In these cases, the loan will remain delinquent until the payment criteria for re-aging have been satisfied.

(3) Loans modified under Citi’s COVID-19 consumer relief programs continue to be reported in the same delinquency bucket they were in at the time of modification.

Defaults of Modified Consumer Loans

The following table presents default activity for permanently modified consumer loans to borrowers experiencing financial difficulty by type of modification granted, including loans that were modified and subsequently defaulted during the year ended December 31, 2023. Default is defined as 60 days past due:


			For the year ended December 31, 2023
In millions of dollars	Total(1)(2)		Interest rate reduction		Term extension		Payment delay		Combination: interest rate reduction and term extension		Combination: term extension and payment delay		Combination: interest rate reduction, term extension and payment delay
In North America offices(3)
Residential first mortgages	$	12	$	1	$	10	$	1	$	—	$	—	$	—
Home equity loans	—		—		—		—		—		—		—
Credit cards(4)	134		134		—		—		—		—		—
Personal, small business and other	1		—		—		—		1		—		—
Total	$	147	$	135	$	10	$	1	$	1	$	—	$	—
In offices outside North America(3)
Residential mortgages	$	3	$	—	$	—	$	3	$	—	$	—	$	—
Credit cards(4)	5		5		—		—		—		—		—
Personal, small business and other	3		—		—		—		3		—		—
Total	$	11	$	5	$	—	$	3	$	3	$	—	$	—

(1) The above table reflects activity for loans outstanding as of the end of the reporting period.

(2) Modified residential first mortgages that default are typically liquidated through foreclosure or a similar type of liquidation.

(3) North America includes the U.S., Canada and Puerto Rico. Mexico is included in offices outside North America.

(4) Modified credit card loans that default continue to be charged off in accordance with Citi’s consumer charge-off policy.

Schedule of troubled debt restructuring loans that defaulted


	Year ended December 31,
In millions of dollars	2022
In North America offices(1)
Residential first mortgages	$	35
Home equity loans	4
Credit cards	250
Personal, small business and other	1
Total	$	290
In offices outside North America(1)
Residential mortgages	$	10
Credit cards	12
Personal, small business and other	3
Total	$	25

(1)North America includes the U.S., Canada and Puerto Rico. Mexico is included in offices outside North America.

Corporate

Loans receivable

Schedule of loans

The following table presents information by corporate loan type:


In millions of dollars	December 31, 2023		December 31, 2022
In North America offices(1)
Commercial and industrial	$	61,008	$	56,176
Financial institutions	39,393		43,399
Mortgage and real estate(2)	17,813		17,829
Installment and other	23,335		23,767
Lease financing	227		308
Total	$	141,776	$	141,479
In offices outside North America(1)
Commercial and industrial	$	93,402	$	93,967
Financial institutions	26,143		21,931
Mortgage and real estate(2)	7,197		4,179
Installment and other	27,907		23,347
Lease financing	48		46
Governments and official institutions	3,599		4,205
Total	$	158,296	$	147,675
Corporate loans, net of unearned income, excluding portfolio layer cumulative basis adjustments(3)(4)(5)	$	300,072	$	289,154
Unallocated portfolio layer cumulative basis adjustments(6)	$	93	$	—
Corporate loans, net of unearned income(3)(4)(5)	$	300,165	$	289,154

(1)North America includes the U.S., Canada and Puerto Rico. Mexico is included in offices outside North America. The classification between offices in North America and outside North America is based on the domicile of the booking unit. The difference between the domicile of the booking unit and the domicile of the managing unit is not material.

(2)Loans secured primarily by real estate.

(3)Corporate loans are net of unearned income of ($917) million and ($797) million at December 31, 2023 and 2022, respectively. Unearned income on corporate loans primarily represents loan origination fees, net of certain direct origination costs, that are deferred and recognized as Interest income over the lives of the related loans.

(4)Not included in the balances above is approximately $2 billion of accrued interest receivable at December 31, 2023 and 2022, which is included in Other assets on the Consolidated Balance Sheet.

(5)Accrued interest receivable considered to be uncollectible is reversed through interest income. Amounts reversed were not material for the years ended December 31, 2023 and 2022, respectively.

(6)Represents fair value hedge basis adjustments related to portfolio layer method hedges of mortgage and real estate loans, which are not allocated to individual loans in the portfolio. See Note 24.

Schedule of loan delinquency and non-accrual details

Corporate Loan Delinquencies and Non-Accrual Details at December 31, 2023


In millions of dollars	30–89 days past due and accruing(1)		≥ 90 days past due and accruing(1)		Total past due and accruing		Total non-accrual(2)		Total current(3)		Total loans(4)
Commercial and industrial	$	308	$	118	$	426	$	717	$	150,308	$	151,451
Financial institutions	9		7		16		51		64,993		65,060
Mortgage and real estate	66		3		69		868		24,001		24,938
Lease financing	—		—		—		—		275		275
Other	66		17		83		246		50,738		51,067
Loans at fair value											7,281

Total(5)	$	449	$	145	$	594	$	1,882	$	290,315	$	300,072

Corporate Loan Delinquencies and Non-Accrual Details at December 31, 2022


In millions of dollars	30–89 days past due and accruing(1)		≥ 90 days past due and accruing(1)		Total past due and accruing		Total non-accrual(2)		Total current(3)		Total loans(4)
Commercial and industrial	$	763	$	594	$	1,357	$	860	$	145,586	$	147,803
Financial institutions	233		102		335		152		64,420		64,907
Mortgage and real estate	30		12		42		33		21,874		21,949
Lease financing	—		1		1		10		343		354
Other	145		18		163		67		48,788		49,018
Loans at fair value											5,123

Total	$	1,171	$	727	$	1,898	$	1,122	$	281,011	$	289,154

(1)Corporate loans that are 90 days past due are generally classified as non-accrual. Corporate loans are considered past due when principal or interest is contractually due but unpaid.

(2)Non-accrual loans generally include those loans that are 90 days or more past due or those loans for which Citi believes, based on actual experience and a forward-looking assessment of the collectibility of the loan in full, that the payment of interest and/or principal is doubtful.

(3)Loans less than 30 days past due are presented as current.

(4)The Total loans column includes loans at fair value, which are not included in the various delinquency columns and, therefore, the tables’ total rows will not cross-foot.

(5)Excludes $93 million of unallocated portfolio layer cumulative basis adjustments at December 31, 2023.

Schedule of loans credit quality indicators

Corporate Loans Credit Quality Indicators


	Recorded investment in loans(1)
	Term loans by year of origination												Revolving line of credit arrangements(2)		December 31, 2023
In millions of dollars	2023		2022		2021		2020		2019		Prior
Investment grade(3)
Commercial and industrial(4)	$	47,811	$	7,738	$	3,641	$	2,279	$	2,604	$	6,907	$	34,956	$	105,936
Financial institutions(4)	11,002		2,356		2,834		424		557		1,847		36,715		55,735
Mortgage and real estate	3,628		4,433		3,595		2,544		1,238		1,582		66		17,086
Other(5)	4,653		5,781		1,072		1,029		812		5,302		29,335		47,984
Total investment grade	$	67,094	$	20,308	$	11,142	$	6,276	$	5,211	$	15,638	$	101,072	$	226,741
Non-investment grade(3)
Accrual
Commercial and industrial(4)	$	17,570	$	4,785	$	1,914	$	1,359	$	732	$	2,526	$	15,912	$	44,798
Financial institutions(4)	4,207		748		1,084		56		194		260		2,725		9,274
Mortgage and real estate	1,034		1,234		1,378		947		755		1,016		620		6,984
Other(5)	653		434		248		158		211		155		1,253		3,112
Non-accrual
Commercial and industrial(4)	53		46		84		35		45		93		361		717
Financial institutions	—		—		—		—		—		—		51		51
Mortgage and real estate	118		233		8		38		110		308		53		868
Other(5)	8		—		41		—		55		12		130		246
Total non-investment grade	$	23,643	$	7,480	$	4,757	$	2,593	$	2,102	$	4,370	$	21,105	$	66,050
Loans at fair value(6)															$	7,281
Corporate loans, net of unearned income(7)	$	90,737	$	27,788	$	15,899	$	8,869	$	7,313	$	20,008	$	122,177	$	300,072


	Recorded investment in loans(1)
	Term loans by year of origination												Revolving line of credit arrangements(2)		December 31, 2022
In millions of dollars	2022		2021		2020		2019		2018		Prior
Investment grade(3)
Commercial and industrial(4)	$	40,639	$	6,124	$	3,620	$	3,458	$	2,617	$	7,048	$	38,358	$	101,864
Financial institutions(4)	11,850		3,877		835		922		333		1,327		37,462		56,606
Mortgage and real estate	4,436		3,236		4,010		2,619		1,127		1,706		152		17,286
Other(5)	7,649		2,687		1,439		643		2,119		3,832		26,805		45,174
Total investment grade	$	64,574	$	15,924	$	9,904	$	7,642	$	6,196	$	13,913	$	102,777	$	220,930
Non-investment grade(3)
Accrual
Commercial and industrial(4)	$	17,278	$	3,139	$	1,973	$	1,331	$	965	$	3,546	$	16,848	$	45,080
Financial institutions(4)	4,708		630		197		254		47		240		2,073		8,149
Mortgage and real estate	582		835		429		729		783		801		472		4,631
Other(5)	1,244		559		391		413		1		219		1,292		4,119
Non-accrual
Commercial and industrial	1		12		99		115		49		105		479		860
Financial institutions(4)	41		34		—		—		—		—		77		152
Mortgage and real estate	10		4		—		—		—		19		—		33
Other(5)	6		—		26		8		10		11		16		77
Total non-investment grade	$	23,870	$	5,213	$	3,115	$	2,850	$	1,855	$	4,941	$	21,257	$	63,101
Loans at fair value(6)															$	5,123
Corporate loans, net of unearned income	$	88,444	$	21,137	$	13,019	$	10,492	$	8,051	$	18,854	$	124,034	$	289,154

(1)Recorded investment in a loan includes net deferred loan fees and costs, unamortized premium or discount, less any direct write-downs.

(2)There were no significant revolving line of credit arrangements that converted to term loans during the year.

(3)Held-for-investment loans are accounted for on an amortized cost basis.

(4)Includes certain short-term loans with less than one year in tenor.

(5)Other includes installment and other, lease financing and loans to government and official institutions.

(6)Loans at fair value include loans to commercial and industrial, financial institutions, mortgage and real estate and other.

(7)Excludes $93 million of unallocated portfolio layer cumulative basis adjustments at December 31, 2023.

The table below details gross credit losses recognized during the year ended December 31, 2023, by year of loan origination:


	For the year ended December 31, 2023
In millions of dollars	2023		2022		2021		2020		2019		Prior		Revolving line of credit arrangement		Total
Commercial and industrial	$	27	$	20	$	1	$	1	$	—	$	10	$	130	$	189
Financial institutions	1		1		—		—		—		—		38		40
Mortgage and real estate	—		9		—		15		—		11		5		40
Other(1)	—		—		—		—		—		—		59		59
Total	$	28	$	30	$	1	$	16	$	—	$	21	$	232	$	328

(1) Other includes installment and other, lease financing and loans to government and official institutions.

Schedule of impaired loans

The following table presents non-accrual loan information by corporate loan type and interest income recognized on non-accrual corporate loans:


	December 31, 2023				December 31, 2022
In millions of dollars	Recorded investment(1)(2)		Related specific allowance		Recorded investment(1)(2)		Related specific allowance
Non-accrual corporate loans with specific allowances
Commercial and industrial	$	507	$	168	$	583	$	268
Financial institutions	48		15		149		51
Mortgage and real estate	697		128		33		4
Other	185		51		—		—
Total non-accrual corporate loans with specific allowances	$	1,437	$	362	$	765	$	323
Non-accrual corporate loans without specific allowances
Commercial and industrial	$	210			$	277
Financial institutions	3				3
Mortgage and real estate	171				—
Lease financing	—				10
Other	61				67
Total non-accrual corporate loans without specific allowances	$	445	N/A		$	357	N/A

(1)Recorded investment in a loan includes net deferred loan fees and costs, unamortized premium or discount, less any direct write-downs.

(2)Interest income recognized for the year ended December 31, 2023, 2022 and 2021 was $38 million, $66 million and $54 million, respectively.

N/A Not applicable

Schedule of loan modifications

The following table details corporate loan modifications granted during the year ended December 31, 2023 to borrowers experiencing financial difficulty by type of modification granted and the financial effect of those modifications. Citi defines a corporate loan modification to a borrower experiencing financial difficulty as a modification of a loan classified as substandard or worse at the time of modification.


	For the year ended December 31, 2023
In millions of dollars, except for weighted-average term extension	Total modifications balance at December 31, 2023(1)(2)(3)		Term extension		Combination: Term extension and payment delay(4)		Weighted-average term extension (months)
Commercial and industrial	$	198	$	180	$	18	19
Financial institutions	—		—		—		—
Mortgage and real estate	144		143		1		24
Other(5)	—		—		—		—
Total	$	342	$	323	$	19

(1)The above table reflects activity for loans outstanding as of the end of the reporting period. The balances are not significant as a percentage of the total carrying values of loans by class of receivable as of December 31, 2023.

(2)Commitments to lend to borrowers experiencing financial difficulty that were granted modifications totaled $1.2 billion as of December 31, 2023.

(3)The allowance for corporate loans, including modified loans, is based on the borrower’s overall financial performance. Charge-offs for amounts deemed uncollectible may be recorded at the time of the modification or may have already been recorded in prior periods such that no charge-off is required at the time of modification.

(4)Payment delays either for principal or interest payments had an immaterial financial impact.

(5)Other includes installment and other, lease financing and loans to government and official institutions.

The following table presents the Company’s corporate troubled debt restructurings (TDRs), under previous GAAP, prior to the Company’s adoption of ASU No. 2022-02 on January 1, 2023:


	For the year ended December 31, 2022
In millions of dollars	Carrying value of TDRs modified during the year		TDRs involving changes in the amount and/or timing of principal payments(1)		TDRs involving changes in the amount and/or timing of interest payments(2)		TDRs involving changes in the amount and/or timing of both principal and interest payments
Commercial and industrial	$	61	$	—	$	—	$	61

Mortgage and real estate	2		1		—		1
Other(3)	30		—		—		30

Total	$	93	$	1	$	—	$	92

(1)TDRs involving changes in the amount or timing of principal payments may involve principal forgiveness or deferral of periodic and/or final principal payments. Because forgiveness of principal is rare for corporate loans, modifications typically have little to no impact on the loans’ projected cash flows and thus little to no impact on the allowance established for the loans. Charge-offs for amounts deemed uncollectible may be recorded at the time of the restructuring or may have already been recorded in prior periods such that no charge-off is required at the time of the modification.

(2)TDRs involving changes in the amount or timing of interest payments may involve a below-market interest rate.

(3)Other includes installment and other, lease financing and loans to government and official institutions.

The following table presents the delinquencies of modified corporate loans to borrowers experiencing financial difficulty. It includes loans that were modified during the year ended December 31, 2023:


	As of December 31, 2023(1)
In millions of dollars	Total		Current		30–89 days past due		90+ days past due

Commercial and industrial	$	198	$	198	$	—	$	—
Financial institutions	—		—		—		—
Mortgage and real estate	144		144		—		—
Other(2)	—		—		—		—
Total	$	342	$	342	$	—	$	—

(1)Corporate loans are generally not modified as a result of their delinquency status; rather, they are modified because of events that have impacted the overall financial performance of the borrower. Corporate loans, if past due, are re-aged to current status upon modification.

(2)Other includes installment and other, lease financing and loans to government and official institutions.

Schedule of troubled debt restructuring loans that defaulted


In millions of dollars	TDR balances at December 31, 2022		TDR loans that re-defaulted in 2022 within one year of modification
Commercial and industrial	$	85	$	—
Mortgage and real estate	13		—
Other(1)	12		—
Total(2)	$	110	$	—

(1)Other includes installment and other, lease financing and loans to government and official institutions.

(2)The above table reflects activity for loans outstanding that were considered TDRs as of the end of the

reporting period.