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GUARANTEES AND COMMITMENTS (Tables)

9 Months Ended

Sep. 30, 2024

Guarantees and Commitments [Abstract]


	Maximum potential amount of future payments
In billions of dollars at September 30, 2024	Expire within 1 year		Expire after 1 year		Total amount outstanding		Carrying value (in millions of dollars)
Financial standby letters of credit	$	17.6	$	61.5	$	79.1	$	653
Performance guarantees	4.4		5.7		10.1		33
Derivative instruments considered to be guarantees	45.7		22.5		68.2		306
Loans sold with recourse	—		1.0		1.0		—
Securities lending indemnifications(1)	108.1		—		108.1		—
Card merchant processing(2)	123.8		—		123.8		—
Credit card arrangements with partners	0.2		0.1		0.3		4
Guarantees under the Fixed Income Clearing Corporation sponsored member repo program	135.3		—		135.3		—
Other	0.1		7.7		7.8		44
Total	$	435.2	$	98.5	$	533.7	$	1,040


	Maximum potential amount of future payments
In billions of dollars at December 31, 2023	Expire within 1 year		Expire after 1 year		Total amount outstanding		Carrying value (in millions of dollars)
Financial standby letters of credit	$	17.8	$	63.5	$	81.3	$	674
Performance guarantees	4.8		5.8		10.6		49
Derivative instruments considered to be guarantees	24.2		16.3		40.5		362
Loans sold with recourse	0.6		1.2		1.8		16
Securities lending indemnifications(1)	104.1		—		104.1		—
Card merchant processing(2)	138.0		—		138.0		—
Credit card arrangements with partners	0.2		0.2		0.4		5
Guarantees under the Fixed Income Clearing Corporation sponsored member repo program	27.7		—		27.7		—
Other	—		7.7		7.7		50
Total	$	317.4	$	94.7	$	412.1	$	1,156

(1)The carrying values of securities lending indemnifications were not material for either period presented, as the probability of potential liabilities arising from these guarantees is minimal.

(2)At September 30, 2024 and December 31, 2023, this maximum potential exposure was estimated to be approximately $124 billion and $138 billion, respectively. However, Citi believes that the maximum exposure is not representative of the actual potential loss exposure based on its historical experience. This contingent liability is unlikely to arise, as most products and services are delivered when purchased and amounts are refunded when items are returned to merchants.

Schedule of guarantor obligations by credit ratings

Presented in the tables below are the maximum potential amounts of future payments that are classified based on internal and external credit ratings. The determination of the maximum potential future payments is based on the notional amount of the guarantees without consideration of possible recoveries under recourse provisions or from collateral held or pledged. As such, Citi believes such amounts bear no relationship to the anticipated losses, if any, on these guarantees.


	Maximum potential amount of future payments
In billions of dollars at September 30, 2024	Investment grade		Non-investment grade		Not rated		Total
Financial standby letters of credit	$	67.4	$	11.7	$	—	$	79.1
Loans sold with recourse	—		—		1.0		1.0
Other	—		7.7		—		7.7
Total	$	67.4	$	19.4	$	1.0	$	87.8


	Maximum potential amount of future payments
In billions of dollars at December 31, 2023	Investment grade		Non-investment grade		Not rated		Total
Financial standby letters of credit	$	70.5	$	10.8	$	—	$	81.3
Loans sold with recourse	—		—		1.8		1.8
Other	—		7.7		—		7.7
Total	$	70.5	$	18.5	$	1.8	$	90.8

Schedule of credit commitments

The table below summarizes Citigroup’s credit commitments:


In millions of dollars	U.S.		Outside of U.S.(1)		September 30, 2024		December 31, 2023
Commercial and similar letters of credit	$	779	$	3,349	$	4,128	$	5,345
One- to four-family residential mortgages	592		499		1,091		1,245
Revolving open-end loans secured by one- to four-family residential properties	5,287		16		5,303		5,495
Commercial real estate, construction and land development	11,458		1,629		13,087		15,266
Credit card lines	621,106		61,276		682,382		677,005
Commercial and other consumer loan commitments	225,558		112,186		337,744		312,300
Other commitments and contingencies(2)	4,911		201		5,112		5,146
Total	$	869,691	$	179,156	$	1,048,847	$	1,021,802

(1)Consumer commitments related to the business HFS countries under sales agreements are reflected in their original categories until the respective sales are completed.

(2)Other commitments and contingencies include commitments to purchase certain debt and equity securities.

Schedule of restricted cash

Restricted cash is included on the Consolidated Balance Sheet within the following balance sheet lines:


In millions of dollars	September 30, 2024		December 31, 2023
Cash and due from banks	$	3,778	$	3,479
Deposits with banks, net of allowance	16,293		15,538
Total	$	20,071	$	19,017