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FAIR VALUE ELECTIONS (Tables)
 9 Months Ended
Sep. 30, 2024
Fair Value, Option, Aggregate Differences [Abstract]  
Schedule of financial instruments selected for changes in fair value gains and losses
The following table presents the changes in fair value of those items for which the fair value option has been elected:

Changes in fair value—gains (losses)
 
Three Months Ended September 30,
Nine Months Ended September 30,
In millions of dollars2024202320242023
Assets  
Securities borrowed and purchased under agreements to resell$223 $69 $164 $59 
Trading account assets8 (14)10 65 
Loans
Certain corporate loans(143)1,036 1,235 1,362 
Certain consumer loans14 (10)4 (9)
Total loans$(129)$1,026 $1,239 $1,353 
Other assets 
MSRs$(40)$42 $(23)$61 
Certain mortgage loans HFS(1)
43 (28)48 (38)
Total other assets$3 $14 $25 $23 
Total assets$105 $1,095 $1,438 $1,500 
Liabilities 
Interest-bearing deposits$(43)$18 $(106)$(34)
Securities loaned and sold under agreements to repurchase(70)(63)(44)(82)
Trading account liabilities(17)(151)(241)1 
Short-term borrowings(2)
(200)144 (581)232 
Long-term debt(2)
(6,216)2,443 (8,338)(4,053)
Total liabilities$(6,546)$2,391 $(9,310)$(3,936)

(1)Includes gains (losses) associated with interest rate lock commitments for originated loans for which the Company has elected the fair value option.
(2)Includes DVA that is included in AOCI. See Notes 19 and 23.
Schedule of fair value of loans and other disclosures for certain credit related products
The following table provides information about certain credit products carried at fair value:

 September 30, 2024December 31, 2023
In millions of dollarsTrading assetsLoansTrading assetsLoans
Carrying amount reported on the Consolidated Balance Sheet$4,059 $8,106 $4,518 $7,594 
Aggregate unpaid principal balance in excess of (less than) fair value109 (71)88 10 
Balance of non-accrual loans or loans more than 90 days past due— 2 — 1 
Aggregate unpaid principal balance in excess of (less than) fair value for non-accrual loans or loans more than 90 days past due— 1 — 1 
Schedule of fair value of loans and other disclosures for certain mortgage loans
The following table provides information about certain mortgage loans HFS carried at fair value:

In millions of dollarsSeptember 30, 2024December 31, 2023
Carrying amount reported on the Consolidated Balance Sheet$948 $571 
Aggregate fair value in excess of (less than) unpaid principal balance29 17 
Balance of non-accrual loans or loans more than 90 days past due1 3 
Aggregate unpaid principal balance in excess of fair value for non-accrual loans
or loans more than 90 days past due		— — 
Schedule of carrying value of structured notes, disaggregated by type of embedded derivative instrument
The following table provides information about the carrying value of notes carried at fair value, disaggregated by type of risk:

In billions of dollarsSeptember 30, 2024December 31, 2023
Interest rate linked$60.3 $60.4 
Foreign exchange linked0.2 — 
Equity linked44.1 45.9 
Commodity linked6.4 5.3 
Credit linked6.3 4.7 
Total$117.3 $116.3 
Schedule of long-term debt carried at fair value, excluding debt issued by consolidated VIEs
The following table provides information about long-term debt and short-term borrowings carried at fair value:

In millions of dollarsSeptember 30, 2024December 31, 2023
Long-term debt
Carrying amount reported on the Consolidated Balance Sheet$117,286 $116,338 
Aggregate unpaid principal balance in excess of (less than) fair value(2,281)(2,842)
Short-term borrowings
Carrying amount reported on the Consolidated Balance Sheet$11,896 $6,545 
Aggregate unpaid principal balance in excess of (less than) fair value(330)(60)
Schedule of short-term borrowings carried at fair value