Citigroup loans are reported in two categories—Consumer and Corporate. These categories are classified primarily according to the segment and subsegment that manages the loans.

Consumer loans represent loans and leases managed primarily by the Global Consumer Banking and Local Consumer Lending businesses. The following table provides information by loan type:

*In millions of dollars*	Mar. 31, 2012			Dec. 31, 2011

Consumer loans
In U.S. offices
Mortgage and real estate(1)	$	136,325		$	139,177
Installment, revolving credit, and other		14,942			15,616
Cards		110,049			117,908
Commercial and industrial		4,796			4,766
Lease financing		—			1

	$	266,112		$	277,468

In offices outside the U.S.
Mortgage and real estate(1)	$	53,652		$	52,052
Installment, revolving credit, and other		35,813			34,613
Cards		39,319			38,926
Commercial and industrial		20,830			19,975
Lease financing		757			711

	$	150,371		$	146,277

Total Consumer loans	$	416,483		$	423,745
Net unearned income (loss)		(380	)		(405	)

Consumer loans, net of unearned income	$	416,103		$	423,340

During the three months ended March 31, 2012 and March 31, 2011, the Company sold and/or reclassified (to held-for-sale) $0.6 billion and $6.9 billion, respectively, of Consumer loans. The Company did not have significant purchases of Consumer loans during the three months ended March 31, 2012 or March 31, 2011.

Citigroup has a comprehensive risk management process to monitor, evaluate and manage the principal risks associated with its Consumer loan portfolio. Included in the loan table above are lending products whose terms may give rise to additional credit issues.

Credit cards with below-market introductory interest rates and interest-only loans are examples of such products. However, these products are closely managed using appropriate credit techniques that mitigate their additional inherent risk. Credit quality indicators that are actively monitored include delinquency status, consumer credit scores (FICO), and loan to value (LTV) ratios, each as discussed in more detail below.

Delinquency status is carefully monitored and considered a key indicator of credit quality. Substantially all of the U.S. residential first mortgage loans use the MBA method of reporting delinquencies, which considers a loan delinquent if a monthly payment has not been received by the end of the day immediately preceding the loan's next due date. All other loans use the OTS method of reporting delinquencies, which considers a loan delinquent if a monthly payment has not been received by the close of business on the loan's next due date. As a general rule, residential first mortgages, home equity loans and installment loans are classified as non-accrual when loan payments are 90 days contractually past due. Credit cards and unsecured revolving loans generally accrue interest until payments are 180 days past due. Commercial market loans are placed on a cash (non-accrual) basis when it is determined, based on actual experience and a forward-looking assessment of the collectability of the loan in full, that the payment of interest or principal is doubtful or when interest or principal is 90 days past due.

The policy for re-aging modified U.S. Consumer loans to current status varies by product. Generally, one of the conditions to qualify for these modifications is that a minimum number of payments (typically ranging from one to three) be made. Upon modification, the loan is re-aged to current status. However, re-aging practices for certain open-ended Consumer loans, such as credit cards, are governed by Federal Financial Institutions Examination Council (FFIEC) guidelines. For open-ended Consumer loans subject to FFIEC guidelines, one of the conditions for the loan to be re-aged to current status is that at least three consecutive minimum monthly payments, or the equivalent amount, must be received. In addition, under FFIEC guidelines, the number of times that such a loan can be re-aged is subject to limitations (generally once in 12 months and twice in five years). Furthermore, Federal Housing Administration (FHA) and Department of Veterans Affairs (VA) loans are modified under those respective agencies' guidelines, and payments are not always required in order to re-age a modified loan to current.

The following tables provide details on Citigroup's Consumer loan delinquency and non-accrual loans as of March 31, 2012 and December 31, 2011:

*In millions of dollars*	Total current(1)(2)		30-89 days past due(3)		³ 90 days past due(3)		Past due Government guaranteed(4)		Total loans(2)		Total non-accrual		90 days past due and accruing

In North America offices
Residential first mortgages	$	80,290	$	3,166	$	4,269	$	6,565	$	94,290	$	4,321	$	5,120
Home equity loans(5)		40,224		750		928		—		41,902		1,713		—
Credit cards		106,724		1,940		1,890		—		110,554		—		1,890
Installment and other		14,571		279		227		—		15,077		411		8
Commercial market loans		6,969		9		174		—		7,152		189		11

Total	$	248,778	$	6,144	$	7,488	$	6,565	$	268,975	$	6,634	$	7,029

In offices outside North America
Residential first mortgages	$	44,972	$	581	$	502		—	$	46,055	$	780	$	—
Home equity loans(5)		6		—		2		—		8		2		—
Credit cards		37,643		971		801		—		39,415		501		516
Installment and other		28,311		553		203		—		29,067		281		—
Commercial market loans		31,580		75		143		—		31,798		441		—

Total	$	142,512	$	2,180	$	1,651		—	$	146,343	$	2,005	$	516

Total *GCB* and *LCL*	$	391,290	$	8,324	$	9,139	$	6,565	$	415,318	$	8,639	$	7,545
Special Asset Pool (SAP)		730		10		45		—		785		110		—

Total Citigroup	$	392,020	$	8,334	$	9,184	$	6,565	$	416,103	$	8,749	$	7,545

*In millions of dollars*	Total current(1)(2)		30-89 days past due(3)		³ 90 days past due(3)		Past due Government guaranteed(4)		Total loans(2)		Total non-accrual		90 days past due and accruing

In North America offices
Residential first mortgages	$	80,929	$	3,550	$	4,273	$	6,686	$	95,438	$	4,328	$	5,054
Home equity loans(5)		41,579		868		1,028		—		43,475		988		—
Credit cards		114,022		2,344		2,058		—		118,424		—		2,058
Installment and other		15,215		340		222		—		15,777		438		10
Commercial market loans		6,643		15		207		—		6,865		220		14

Total	$	258,388	$	7,117	$	7,788	$	6,686	$	279,979	$	5,974	$	7,136

In offices outside North America
Residential first mortgages	$	43,310	$	566	$	482	$	—	$	44,358	$	744	$	—
Home equity loans(5)		6		—		2		—		8		2		—
Credit cards		38,289		930		785		—		40,004		496		490
Installment and other		26,300		528		197		—		27,025		258		—
Commercial market loans		30,491		79		127		—		30,697		401		—

Total	$	138,396	$	2,103	$	1,593	$	—	$	142,092	$	1,901	$	490

Total *GCB* and *LCL*	$	396,784	$	9,220	$	9,381	$	6,686	$	422,071	$	7,875	$	7,626
Special Asset Pool (SAP)		1,193		29		47		—		1,269		115		—

Total Citigroup	$	397,977	$	9,249	$	9,428	$	6,686	$	423,340	$	7,990	$	7,626

In the U.S., independent credit agencies rate an individual's risk for assuming debt based on the individual's credit history and assign every consumer a credit score. These scores are often called "FICO scores" because most credit bureau scores used in the U.S. are produced from software developed by Fair Isaac Corporation. Scores range from a high of 900 (which indicates high credit quality) to 300. These scores are continually updated by the agencies based upon an individual's credit actions (e.g., taking out a loan or missed or late payments).

The following table provides details on the FICO scores attributable to Citi's U.S. Consumer loan portfolio as of March 31, 2012 and December 31, 2011 (commercial market loans are not included in the table since they are business-based and FICO scores are not a primary driver in their credit evaluation). FICO scores are updated monthly for substantially all of the portfolio or, otherwise, on a quarterly basis.

	March 31, 2012

FICO score distribution in U.S. portfolio(1)(2) *In millions of dollars*	Less than 620		³ 620 but less than 660		Equal to or greater than 660
Residential first mortgages	$	19,723	$	8,604	$	52,727
Home equity loans		6,529		3,628		29,717
Credit cards		9,120		10,582		86,349
Installment and other		4,631		2,473		5,585

Total	$	40,003	$	25,287	$	174,378

	December 31, 2011

FICO score distribution in U.S. portfolio(1)(2) *In millions of dollars*	Less than 620		³ 620 but less than 660		Equal to or greater than 660
Residential first mortgages	$	20,370	$	8,815	$	52,839
Home equity loans		6,385		3,596		31,389
Credit cards		9,621		10,905		93,234
Installment and other		3,789		2,858		6,704

Total	$	40,165	$	26,174	$	184,166

Loan to value (LTV) ratios (loan balance divided by appraised value) are calculated at origination and updated by applying market price data.

The following tables provide details on the LTV ratios attributable to Citi's U.S. Consumer mortgage portfolios as of March 31, 2012 and December 31, 2011. LTV ratios are updated monthly using the most recent Core Logic HPI data available for substantially all of the portfolio applied at the Metropolitan Statistical Area level, if available; otherwise, at the state level. The remainder of the portfolio is updated in a similar manner using the Office of Federal Housing Enterprise Oversight indices.

Impaired loans are those for which Citigroup believes it is probable that it will not collect all amounts due according to the original contractual terms of the loan. Impaired Consumer loans include non-accrual commercial market loans as well as smaller-balance homogeneous loans whose terms have been modified due to the borrower's financial difficulties and Citigroup has granted a concession to the borrower. These modifications may include interest rate reductions and/or principal forgiveness. Impaired Consumer loans exclude smaller-balance homogeneous loans that have not been modified and are carried on a non-accrual basis. In addition, impaired Consumer loans exclude substantially all loans modified pursuant to Citi's short-term modification programs (i.e., for periods of 12 months or less) that were modified prior to January 1, 2011.

Effective in the third quarter of 2011, as a result of adopting ASU 2011-02, certain loans modified under short-term programs since January 1, 2011 that were previously measured for impairment under ASC 450 are now measured for impairment under ASC 310-10-35. At the end of the first interim period of adoption (September 30, 2011), the recorded investment in receivables previously measured under ASC 450 was $1,170 million and the allowance for credit losses associated with those loans was $467 million. See Note 1 to the Consolidated Financial Statements for a discussion of this change.

The following tables present information about total impaired Consumer loans at and for the periods ending March 31, 2012 and December 31, 2011, respectively, and for the three-month periods ended March 31, 2012 and March 31, 2011 for interest income recognized on impaired Consumer loans:

	March 31, 2012								Three Months Ended Mar. 31, 2012		Three Months Ended Mar. 31, 2011

*In millions of dollars*	Recorded investment(1)(2)		Unpaid principal balance		Related specific allowance(3)		Average carrying value(4)		Interest income recognized(5)(6)		Interest income recognized(5)(6)
Mortgage and real estate
Residential first mortgages	$	19,076	$	20,561	$	2,995	$	19,087	$	215	$	201
Home equity loans		1,706		1,821		1,149		1,763		15		12
Credit cards		5,971		6,031		2,788		6,465		87		97
Installment and other
Individual installment and other		2,208		2,209		937		2,472		69		71
Commercial market loans		531		769		71		523		4		9

Total(7)	$	29,492	$	31,391	$	7,940	$	30,310	$	390	$	390

(1): Recorded investment in a loan includes net deferred loan fees and costs, unamortized premium or discount and direct write-downs and includes accrued interest only on credit card loans.
(2): $929 million of residential first mortgages, $61 million of home equity loans and $203 million of commercial market loans do not have a specific allowance.
(3): Included in the Allowance for loan losses.
(4): Average carrying value represents the average recorded investment ending balance for last four quarters and does not include related specific allowance.
(5): Includes amounts recognized on both an accrual and cash basis.
(6): Cash interest receipts on smaller-balance homogeneous loans are generally recorded as revenue. The interest recognition policy for commercial market loans is identical to that for Corporate loans, as described below.
(7): Prior to 2008, the Company's financial accounting systems did not separately track impaired smaller-balance, homogeneous Consumer loans whose terms were modified due to the borrowers' financial difficulties and it was determined that a concession was granted to the borrower. Smaller-balance consumer loans modified since January 1, 2008 amounted to $29.0 billion at March 31, 2012. However, information derived from Citi's risk management systems indicates that the amounts of outstanding modified loans, including those modified prior to 2008, approximated $30.0 billion at March 31, 2012.

	December 31, 2011

*In millions of dollars*	Recorded investment(1)(2)		Unpaid principal balance		Related specific allowance(3)		Average carrying value(4)
Mortgage and real estate
Residential first mortgages	$	19,616	$	20,803	$	3,404	$	18,642
Home equity loans		1,771		1,823		1,252		1,680
Credit cards		6,695		6,743		3,122		6,542
Installment and other
Individual installment and other		2,264		2,267		1,032		2,644
Commercial market loans		517		782		75		572

Total(7)	$	30,863	$	32,418	$	8,885	$	30,080

(1): Recorded investment in a loan includes net deferred loan fees and costs, unamortized premium or discount and direct write-downs and includes accrued interest only on credit card loans.
(2): $858 million of residential first mortgages, $16 million of home equity loans and $182 million of commercial market loans do not have a specific allowance.
(3): Included in the Allowance for loan losses.
(4): Average carrying value represents the average recorded investment ending balance for last four quarters and does not include related specific allowance.
(5): Includes amounts recognized on both an accrual and cash basis.
(6): Cash interest receipts on smaller-balance homogeneous loans are generally recorded as revenue. The interest recognition policy for commercial market loans is identical to that for Corporate loans, as described below.
(7): Prior to 2008, the Company's financial accounting systems did not separately track impaired smaller-balance, homogeneous Consumer loans whose terms were modified due to the borrowers' financial difficulties and it was determined that a concession was granted to the borrower. Smaller-balance consumer loans modified since January 1, 2008 amounted to $30.3 billion at December 31, 2011. However, information derived from Citi's risk management systems indicates that the amounts of outstanding modified loans, including those modified prior to 2008, approximated $31.5 billion at December 31, 2011.

The following tables present TDRs occurring during the three -month periods ended March 31, 2012 and 2011:

In millions of dollars except number of loans modified		Pre-modification recorded investment		Post-modification recorded investment(1)		Deferred principal(2)		Contingent principal forgiveness(3)		Principal forgiveness

North America
Residential first mortgages	5,618	$	744	$	746	$	—	$	—	$	11	3	%
Home equity loans	2,655		109		107		—		—		2	4
Credit cards	65,236		345		345		—		—		—	17
Installment and other revolving	19,817		147		146		—		—		—	6
Commercial markets(4)	35		2		—		—		—		—	—

Total	93,361	$	1,347	$	1,344	$	—	$	—	$	13

International
Residential first mortgages	587	$	35	$	34	$	—	$	—	$	1	1	%
Home equity loans	16		1		1		—		—		—	—
Credit cards	53,171		147		145		—		—		—	30
Installment and other revolving	12,153		77		76		—		—		—	17
Commercial markets(4)	20		15		—		—		—		1	—

Total	65,947	$	275	$	256	$	—	$	—	$	2

(1): Post-modification balances include past due amounts that are capitalized at modification date.
(2): Represents portion of loan principal that is non-interest bearing but still due from borrower. Effective in the first quarter of 2012, such deferred principal is charged off at the time of modification to the extent that the related loan balance exceeds the underlying collateral value. A significant amount of the reported balances have been charged off.
(3): Represents portion of loan principal that is non-interest bearing and, depending upon borrower performance, eligible for forgiveness.
(4): Commercial markets loans are generally borrower-specific modifications and incorporate changes in the amount and/or timing of principal and/or interest.

In millions of dollars except number of loans modified		Pre-modification recorded investment		Post-modification recorded investment(1)		Deferred principal(2)		Contingent principal forgiveness(3)		Principal forgiveness

North America
Residential first mortgages	10,116	$	1,569	$	1,627	$	39	$	13	$	—	2	%
Home equity loans	6,562		361		362		13		—		—	4
Credit cards	211,881		1,258		1,253		—		—		—	19
Installment and other revolving	29,787		230		228		—		—		—	4
Commercial markets(4)	298		21		—		—		—		—	—

Total	258,644	$	3,439	$	3,470	$	52	$	13	$	—

International
Residential first mortgages	1,511	$	76	$	74	$	—	$	—	$	2	1	%
Home equity loans	19		1		1		—		—		—	—
Credit cards	70,962		190		188		—		—		1	20
Installment and other revolving	38,919		177		172		—		—		4	8
Commercial markets(4)	3		3		—		—		—		—	—

Total	111,414	$	447	$	435	$	—	$	—	$	7

(1): Post-modification balances include past due amounts that are capitalized at modification date.
(2): Represents portion of loan principal that is non-interest bearing but still due from borrower. Effective in the first quarter of 2012, such deferred principal is charged off at the time of modification to the extent that the related loan balance exceeds the underlying collateral value. A significant amount of the reported balances have been charged off.
(3): Represents portion of loan principal that is non-interest bearing and, depending upon borrower performance, eligible for forgiveness.
(4): Commercial markets loans are generally borrower-specific modifications and incorporate changes in the amount and/or timing of principal and/or interest.

The following table presents TDR loans that defaulted during the first three months of 2012 and 2011, respectively, and for which the payment default occurred within one year of the modification.


*In millions of dollars*	March 31, 2012(1)		March 31, 2011(1)
North America
Residential first mortgages	$	412	$	437
Home equity loans		29		25
Credit cards		165		469
Installment and other revolving		33		19
Commercial markets(1)		—		—

Total	$	639	$	950

International
Residential first mortgages	$	11	$	36
Home equity loans		—		1
Credit cards		51		116
Installment and other revolving		38		83
Commercial markets(1)		—		—

Total	$	100	$	236

Corporate loans represent loans and leases managed by ICG or the SAP. The following table presents information by Corporate loan type as of March 31, 2012 and December 31, 2011:

*In millions of dollars*	Mar. 31, 2012			Dec. 31, 2011

Corporate
In U.S. offices
Commercial and industrial	$	22,746		$	21,667
Loans to financial institutions		36,303			33,265
Mortgage and real estate(1)		22,270			20,698
Installment, revolving credit and other		9,501			15,011
Lease financing		1,278			1,270

	$	92,098		$	91,911

In offices outside the U.S.
Commercial and industrial	$	83,951		$	79,764
Installment, revolving credit and other		15,341			14,114
Mortgage and real estate(1)		6,974			6,885
Loans to financial institutions		32,280			29,794
Lease financing		566			568
Governments and official institutions		1,497			1,576

	$	140,609		$	132,701

Total Corporate loans	$	232,707		$	224,612
Net unearned income (loss)		(788	)		(710	)

Corporate loans, net of unearned income	$	231,919		$	223,902

During the three months ended March 31, 2012 and 2011, the Company sold and/or reclassified (to held-for-sale) $925 million and $2,145 million, respectively, of held-for-investment Corporate loans. The Company did not have significant purchases of loans classified as held-for-investment for the period ended March 31, 2012.

Corporate loans are identified as impaired and placed on a cash (non-accrual) basis when it is determined, based on actual experience and a forward-looking assessment of the collectability of the loan in full, that the payment of interest or principal is doubtful or when interest or principal is 90 days past due, except when the loan is well collateralized and in the process of collection. Any interest accrued on impaired Corporate loans and leases is reversed at 90 days and charged against current earnings, and interest is thereafter included in earnings only to the extent actually received in cash. When there is doubt regarding the ultimate collectability of principal, all cash receipts are thereafter applied to reduce the recorded investment in the loan. While Corporate loans are generally managed based on their internally assigned risk rating (see further discussion below), the following tables present delinquency information by Corporate loan type as of March 31, 2012 and December 31, 2011:

*In millions of dollars*	30-89 days past due and accruing(1)		³ 90 days past due and accruing(1)		Total past due and accruing		Total non-accrual(2)		Total current(3)		Total loans

Commercial and industrial	$	60	$	9	$	69	$	1,228	$	104,122	$	105,419
Financial institutions		—		—		—		615		66,286		66,901
Mortgage and real estate		202		128		330		942		27,843		29,115
Leases		2		—		2		11		1,831		1,844
Other		110		6		116		177		24,917		25,210
Loans at fair value												3,430

Total	$	374	$	143	$	517	$	2,973	$	224,999	$	231,919

(1): Corporate loans that are greater than 90 days past due are generally classified as non-accrual. Corporate loans are considered past due when principal or interest is contractually due but unpaid.
(2): Citi generally does not manage Corporate loans on a delinquency basis. Non-accrual loans generally include those loans that are ³ 90 days past due or those loans for which Citi believes, based on actual experience and a forward-looking assessment of the collectability of the loan in full that the payment of interest or principal is doubtful.
(3): Corporate loans are past due when principal or interest is contractually due but unpaid. Loans less than 30 days past due are presented as current.

*In millions of dollars*	30-89 days past due and accruing(1)		³ 90 days past due and accruing(1)		Total past due and accruing		Total non-accrual(2)		Total current(3)		Total loans

Commercial and industrial	$	93	$	30	$	123	$	1,144	$	98,968	$	100,235
Financial institutions		—		2		2		779		60,762		61,543
Mortgage and real estate		224		125		349		1,029		26,107		27,485
Leases		3		11		14		13		1,811		1,838
Other		225		15		240		271		28,351		28,862
Loans at fair value												3,939

Total	$	545	$	183	$	728	$	3,236	$	215,999	$	223,902

(1): Corporate loans that are greater than 90 days past due are generally classified as non-accrual. Corporate loans are considered past due when principal or interest is contractually due but unpaid.
(2): Citi generally does not manage Corporate loans on a delinquency basis. Non-accrual loans generally include those loans that are ³ 90 days past due or those loans for which Citi believes, based on actual experience and a forward-looking assessment of the collectability of the loan in full, that the payment of interest or principal is doubtful.
(3): Corporate loans are past due when principal or interest is contractually due but unpaid. Loans less than 30 days past due are presented as current.

Citigroup has established a risk management process to monitor, evaluate and manage the principal risks associated with its Corporate loan portfolio. As part of its risk management process, Citi assigns numeric risk ratings to its Corporate loan facilities based on quantitative and qualitative assessments of the obligor and facility. These risk ratings are reviewed at least annually or more often if material events related to the obligor or facility warrant. Factors considered in assigning the risk ratings include: financial condition of the obligor, qualitative assessment of management and strategy, amount and sources of repayment, amount and type of collateral and guarantee arrangements, amount and type of any contingencies associated with the obligor, and the obligor's industry and geography.

The obligor risk ratings are defined by ranges of default probabilities. The facility risk ratings are defined by ranges of loss norms, which are the product of the probability of default and the loss given default. The investment grade rating categories are similar to the category BBB-/Baa3 and above as defined by S&P and Moody's. Loans classified according to the bank regulatory definitions as special mention, substandard and doubtful will have risk ratings within the non-investment grade categories.

Corporate Loans Credit Quality Indicators at March 31, 2012 and December 31, 2011

	Recorded investment in loans(1)

*In millions of dollars*	March 31, 2012		December 31, 2011
Investment grade(2)
Commercial and industrial	$	69,895	$	67,919
Financial institutions		56,658		53,482
Mortgage and real estate		11,767		10,068
Leases		1,202		1,161
Other		22,591		24,129

Total investment grade	$	162,113	$	156,759

Non-investment grade(2)
Accrual
Commercial and industrial	$	34,296	$	31,172
Financial institutions		9,628		7,282
Mortgage and real estate		3,477		3,672
Leases		631		664
Other		2,442		4,462
Non-accrual
Commercial and industrial		1,228		1,144
Financial institutions		615		779
Mortgage and real estate		942		1,029
Leases		11		13
Other		177		271

Total non-investment grade	$	53,447	$	50,488

Private Banking loans managed on a
delinquency basis(2)	$	12,929	$	12,716
Loans at fair value		3,430		3,939

Corporate loans, net of unearned income	$	231,919	$	223,902

Corporate loans and leases identified as impaired and placed on non-accrual status are written down to the extent that principal is judged to be uncollectible. Impaired collateral-dependent loans and leases, where repayment is expected to be provided solely by the sale of the underlying collateral and there are no other available and reliable sources of repayment, are written down to the lower of cost or collateral value, less cost to sell. Cash-basis loans are returned to an accrual status when all contractual principal and interest amounts are reasonably assured of repayment and there is a sustained period of repayment performance, generally six months, in accordance with the contractual terms of the loan.

The following tables present non-accrual loan information by Corporate loan type at March 31, 2012 and December 31, 2011, respectively, and interest income recognized on non-accrual Corporate loans for the three-month periods ended March 31, 2012 and 2011, respectively:

	At and for the three months ended March 31, 2012

*In millions of dollars*	Recorded investment(1)		Unpaid principal balance		Related specific allowance		Average carrying value(2)		Interest income recognized
Non-accrual Corporate loans
Commercial and industrial	$	1,228	$	1,571	$	182	$	1,267	$	7
Loans to financial institutions		615		807		25		940		—
Mortgage and real estate		942		1,312		158		1,264		18
Lease financing		11		19		—		17		—
Other		177		369		54		316		1

Total non-accrual Corporate loans	$	2,973	$	4,078	$	419	$	3,804	$	26

	At and for the three months ended December 31, 2011

*In millions of dollars*	Recorded investment(1)		Unpaid principal balance		Related specific allowance		Average carrying value(3)
Non-accrual Corporate loans
Commercial and industrial	$	1,144	$	1,538	$	186	$	1,448
Loans to financial institutions		779		1,213		20		1,060
Mortgage and real estate		1,029		1,240		151		1,485
Lease financing		13		21		—		25
Other		271		476		63		416

Total non-accrual Corporate loans	$	3,236	$	4,488	$	420	$	4,434

	March 31, 2012				December 31, 2011

*In millions of dollars*	Recorded investment(1)		Related specific allowance		Recorded investment(1)		Related specific allowance
Non-accrual Corporate loans with valuation allowances
Commercial and industrial	$	500	$	182	$	501	$	186
Loans to financial institutions		56		25		68		20
Mortgage and real estate		548		158		540		151
Other		124		54		130		63

Total non-accrual Corporate loans with specific allowance	$	1,228	$	419	$	1,239	$	420

Non-accrual Corporate loans without specific allowance
Commercial and industrial	$	728			$	643
Loans to financial institutions		559				711
Mortgage and real estate		394				489
Lease financing		11				13
Other		53				141

Total non-accrual Corporate loans without specific allowance	$	1,745		N/A	$	1,997		N/A

The following tables provide details on TDR activity and default information as of and for the three-month periods ended March 31, 2012 and 2011.

The following table presents TDRs occurring during the three-month period ended March 31, 2012.

*In millions of dollars*	Carrying Value		TDRs involving changes in the amount and/or timing of principal payments(1)		TDRs involving changes in the amount and/or timing of interest payments(2)		TDRs involving changes in the amount and/or timing of both principal and interest payments		Balance of principal forgiven or deferred		Net P&L impact(3)

Commercial and industrial	$	17	$	17	$	—	$	—	$	—	$	1
Loans to financial institutions		—		—		—		—		—		—
Mortgage and real estate		61		60		—		1		—		—
Other		—		—		—		—		—		—

Total	$	78	$	77	$	—	$	1	$	—	$	1

The following table presents TDRs occurring during the three-month period ended March 31, 2011.

*In millions of dollars*	Carrying Value		TDRs involving changes in the amount and/or timing of principal payments(1)		TDRs involving changes in the amount and/or timing of interest payments(2)		TDRs involving changes in the amount and/or timing of both principal and interest payments		Balance of principal forgiven or deferred		Net P&L impact(3)

Commercial and industrial	$	—	$	—	$	—	$	—	$	—	$	—
Loans to financial institutions		—		—		—		—		—		—
Mortgage and real estate		227		2		—		225		3		37
Other		—		—		—		—		—		—

Total	$	227	$	2	$	—	$	225	$	3	$	37

The following table presents total corporate loans modified in a troubled debt restructuring at March 31, 2012 and 2011, and for which the payment default occurred within one year of the modification.

*In millions of dollars*	TDR Balances at March 31, 2012		TDR Loans in payment default Three Months Ended March 31, 2012(1)		TDR Balances at March 31, 2011		TDR Loans in payment default Three Months Ended March 31, 2011(1)

Commercial and industrial	$	272	$	—	$	412	$	—
Loans to financial institutions		551		—		375		—
Mortgage and real estate		120		—		583		—
Other		20		—		33		—

Total Corporate Loans modified in TDRs	$	963	$	—	$	1,403	$	—