CONCENTRATIONS OF CREDIT RISK

12 Months Ended

Dec. 31, 2024

Risks and Uncertainties [Abstract]

CONCENTRATIONS OF CREDIT RISK

CONCENTRATIONS OF CREDIT RISK

Concentrations of credit risk exist when changes in economic, industry or geographic factors similarly affect groups of counterparties whose aggregate credit exposure is material in relation to Citigroup’s total credit exposure. Although Citigroup’s portfolio of financial instruments is broadly diversified along industry, product and geographic lines, material transactions are completed with other financial institutions, particularly in the securities trading, derivatives and foreign exchange businesses.

In connection with the Company’s efforts to maintain a diversified portfolio, the Company limits its exposure to any one geographic region, country or individual creditor and monitors this exposure on a continuous basis. At December 31, 2024, Citigroup’s most significant concentration of credit risk was in AFS and HTM securities and Trading-related assets (trading securities) (collectively referred to below as “securities exposure”) with the U.S. government and its agencies, foreign governments, and states and municipalities.

At December 31, 2024 and 2023, the Company’s securities exposure to the U.S. government and its agencies was $493 billion and $517 billion; to foreign governments was $209 billion and $206 billion; and to states and municipalities was $11 billion and $12 billion, respectively.