PRINCIPAL TRANSACTIONS (Tables)

6 Months Ended

Jun. 30, 2024

Principal Transactions Revenue, Net [Abstract]

Principal transactions revenue

The following table presents Principal transactions revenue:

	Three Months Ended June 30,				Six Months Ended June 30,
In millions of dollars	2024		2023		2024		2023
Interest rate risks(1)	$	517	$	572	$	1,453	$	1,969
Foreign exchange risks(2)	1,187		1,353		2,440		2,831
Equity risks(3)(4)	686		206		1,300		839
Commodity and other risks(5)	321		469		624		967
Credit products and risks(6)	163		(72)		331		(139)
Total	$	2,874	$	2,528	$	6,148	$	6,467

(1)    Includes revenues from government securities, municipal securities, mortgage securities and other debt instruments. Also includes spot and forward trading of currencies and exchange-traded and over-the-counter (OTC) currency options, options on fixed income securities, interest rate swaps, currency swaps, swap options, caps and floors, financial futures, OTC options and forward contracts on fixed income securities.

(2)    Includes revenues from foreign exchange spot, forward, option and swap contracts, as well as foreign currency translation (FX translation) gains and losses.

(3)    Includes revenues from common, preferred and convertible preferred stock, convertible corporate debt, equity-linked notes and exchange-traded and OTC equity options and warrants.

(4)    The three and six months ended June 30, 2024 include an approximate $400 million episodic gain related to the Visa B exchange.

(5)    Primarily includes revenues from crude oil, refined oil products, natural gas and other commodities trades.

(6)    Includes revenues from corporate debt, secondary trading loans, mortgage securities, single name and index credit default swaps, and structured credit products.