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COMMISSIONS AND FEES; ADMINISTRATION AND OTHER FIDUCIARY FEES
 9 Months Ended
Sep. 30, 2024
Other Income and Expenses [Abstract]  
COMMISSIONS AND FEES; ADMINISTRATION AND OTHER FIDUCIARY FEES COMMISSIONS AND FEES; ADMINISTRATION AND OTHER FIDUCIARY FEES
Commissions and Fees
The primary components of Commissions and fees revenue are investment banking fees, brokerage commissions, credit card and bank card income, deposit-related fees and transactional service fees. See Note 3 for segment results and Note 5 to the Consolidated Financial Statements in Citi’s 2023 Form 10-K for additional information on Citi’s commissions and fees.

The following table presents Commissions and fees revenue:

Three Months Ended September 30,Nine Months Ended September 30,
In millions of dollars2024202320242023
Investment banking(1)
$944 $694 $2,692 $2,018 
Brokerage commissions(2)
653 565 1,895 1,776 
Credit and bank card income(3)
Interchange fees3,052 3,015 9,074 8,944 
Card-related loan fees162 123 439 360 
Card rewards and partner payments(3,187)(3,159)(9,292)(9,284)
Deposit-related fees(4)
324 325 1,005 924 
Transactional service fees(5)
344 327 1,043 978 
Corporate finance(6)
164 89 512 277 
Insurance distribution revenue(7)
76 77 238 257 
Insurance premiums(8)
23 26 72 72 
Loan servicing19 21 54 71 
Other121 92 349 300 
Total(9)
$2,695 $2,195 $8,081 $6,693 

(1)    Investment banking fees are earned primarily by Banking and Markets. For the periods presented, the contract liability amount was negligible.
(2)    Brokerage commissions are earned primarily by Markets and Wealth. The Company recognized $43 million and $129 million of revenue related to variable consideration for the three and nine months ended September 30, 2024, respectively, and $44 million and $158 million for the three and nine months ended September 30, 2023, respectively. These amounts primarily relate to performance obligations satisfied in prior periods.
(3)    Credit card and bank card income is earned primarily by USPB and Services.
(4)    Deposit-related fees are earned primarily by Services.
(5)    Transactional service fees are earned primarily by Services.
(6)    Consists primarily of fees earned from structuring and underwriting loan syndications or related financing activity. This activity is accounted for under ASC 310.
(7)    Insurance distribution revenue is earned primarily by Wealth and Legacy Franchises within All Other.
(8)    Insurance premiums are earned primarily by Legacy Franchises within All Other.
(9)    Commissions and fees include $(2,791) million and $(8,162) million not accounted for under ASC 606, Revenue from Contracts with Customers, for the three and nine months ended September 30, 2024, respectively, and $(2,897) million and $(8,497) million for the three and nine months ended September 30, 2023, respectively. Amounts reported in Commissions and fees accounted for under other guidance primarily include card-related loan fees, card reward programs and certain partner payments, corporate finance fees, insurance premiums and loan servicing fees.

Administration and Other Fiduciary Fees
Administration and other fiduciary fees revenue is primarily composed of custody fees and fiduciary fees. See Note 3 for segment results and Note 5 to the Consolidated Financial Statements in Citi’s 2023 Form 10-K for additional information on Citi’s administration and other fiduciary fees.

The following table presents Administration and other fiduciary fees revenue:

Three Months Ended September 30,Nine Months Ended September 30,
In millions of dollars2024202320242023
Custody fees(1)
$520 $469 $1,562 $1,424 
Fiduciary fees(2)
403 370 1,183 1,024 
Guarantee fees136 132 397 408 
Total administration and other fiduciary fees(3)
$1,059 $971 $3,142 $2,856 

(1)    Custody fees are earned primarily by Services.
(2)    Fiduciary fees are earned primarily by Wealth and Legacy Franchises within All Other.
(3)    Administration and other fiduciary fees include $136 million and $132 million for the three months ended September 30, 2024 and 2023, and $397 million and $408 million for the nine months ended September 30, 2024 and 2023, respectively, that are not accounted for under ASC 606, Revenue from Contracts with Customers. These generally include guarantee fees.