The table below sets forth Citigroup's Commissions and fees revenue for the three and six months ended June 30, 2011 and 2010, respectively. The primary components of Commissions and fees revenue for the three months ended June 30, 2011 were credit card and bank card fees, investment banking fees and trading-related fees.

Credit card and bank card fees are substantially composed of interchange revenue, and certain card fees, including annual fees, reduced by reward program costs. Interchange revenue and fees are recognized when earned, except for annual card fees, which are deferred and amortized on a straight-line basis over a 12-month period. Reward costs are recognized when points are earned by the customers.

Investment banking fees are substantially composed of underwriting and advisory revenues. Investment banking fees are recognized when Citi's performance under the terms of the contractual arrangements is completed, which is typically at the closing of the transaction. Underwriting revenue is recorded in Commissions and fees net of both reimbursable and non-reimbursable expenses, consistent with the AICPA Audit and Accounting Guide for Brokers and Dealers in Securities (codified in ASC 940-605-05-1). Expenses associated with advisory transactions are recorded in Other operating expenses, net of client reimbursements. Out-of-pocket expenses are deferred and recognized at the time the related revenue is recognized. In general, expenses incurred related to investment banking transactions that fail to close (are not consummated) are recorded gross in Other operating expenses.

Trading-related fees generally include commissions and fees from the following: executing transactions for clients on exchanges and over-the-counter markets; sale of mutual funds, insurance and other annuity products; and assisting clients in clearing transactions, providing brokerage services and other such activities. Trading-related fees are recognized when earned in Commissions and fees. Gains or losses, if any, on these transactions are included in Principal transactions.

The following table presents commissions and fees revenue for the three and six months ended June 30, 2011 and 2010:

	Three Months Ended June 30,					Six Months Ended June 30,

*In millions of dollars*	2011		2010			2011		2010
Credit cards and bank cards	$	944	$	999		$	1,809	$	1,964
Investment banking		812		473			1,459		1,318
Trading-related		667		621			1,358		1,220
Transaction services		387		364			761		711
Checking-related		246		260			471		533
Other Consumer		213		293			430		605
Primerica		—		—			—		91
Corporate finance(1)		171		87			299		183
Loan servicing		104		143			250		282
Other		13		(11	)		88		(33	)

Total commissions and fees	$	3,557	$	3,229		$	6,925	$	6,874