LOANS (Tables)

3 Months Ended

Mar. 31, 2012

Consumer

Loans receivable

Schedule of loans

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

(1)

Loans secured primarily by real estate.

Schedule of loan delinquency and non-accrual details

Consumer Loan Delinquency and Non-Accrual Details at March 31, 2012

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

(1)

Loans less than 30 days past due are presented as current.

(2)

Includes $1.3 billion of residential first mortgages recorded at fair value.

(3)

Excludes loans guaranteed by U.S. government entities.

(4)

Consists of residential first mortgages that are guaranteed by U.S. government entities that are 30-89 days past due of $1.3 billion and ³ 90 days past due of $5.1 billion.

(5)

Fixed rate home equity loans and loans extended under home equity lines of credit which are typically in junior lien positions.

Consumer Loan Delinquency and Non-Accrual Details at 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	$	80,929	$	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

(1)

Loans less than 30 days past due are presented as current.

(2)

Includes $1.3 billion of residential first mortgages recorded at fair value.

(3)

Excludes loans guaranteed by U.S. government entities.

(4)

Consists of residential first mortgages that are guaranteed by U.S. government entities that are 30-89 days past due of $1.6 billion and ³ 90 days past due of $5.1 billion.

(5)

Fixed rate home equity loans and loans extended under home equity lines of credit which are typically in junior lien positions.

Schedule of loans credit quality indicators

	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

(1)

Excludes loans guaranteed by U.S. government entities, loans subject to LTSCs with U.S. government-sponsored entities and loans recorded at fair value.

(2)

Excludes balances where FICO was not available. Such amounts are not material.

	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

(1)

Excludes loans guaranteed by U.S. government entities, loans subject to LTSCs with U.S. government-sponsored entities and loans recorded at fair value.

(2)

Excludes balances where FICO was not available. Such amounts are not material.

Schedule of 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.

Schedule of troubled debt restructurings

March 31, 2012:

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

March 31, 2011:

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

Schedule of troubled debt restructuring loans that defaulted

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

(1)

Default is defined as 60 days past due, except for classifiably managed commercial markets loans, where default is defined as 90 days.

Corporate

Loans receivable

Schedule of loans

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

(1)

Loans secured primarily by real estate.

Schedule of loan delinquency and non-accrual details

Corporate Loan Delinquency and Non-Accrual Details at March 31, 2012

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.

Corporate Loan Delinquency and Non-Accrual Details at 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	$	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. Non-Accrual Corporate Loans

	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

In millions of dollars	Three Months Ended Mar. 31, 2011
Interest income recognized	$	13

	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

(1)

Recorded investment in a loan includes net deferred loan fees and costs, unamortized premium or discount, less any direct write-downs.

(2)

Average carrying value represents the average recorded investment balance and does not include related specific allowance.

(3)

Average carrying value does not include related specific allowance.

N/A Not Applicable

Schedule of loans credit quality indicators

	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

(1)

Recorded investment in a loan includes net deferred loan fees and costs, unamortized premium or discount, less any direct write-downs.

(2)

Held-for-investment loans accounted for on an amortized cost basis.

Schedule of troubled debt restructurings

        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

(1)

TDRs involving changes in the amount or timing of principal payments may involve principal forgiveness or deferral of periodic and/or final principal payments.

(2)

TDRs involving changes in the amount or timing of interest payments may involve a below-market interest rate.

(3)

Balances reflect charge-offs and reserves recorded during the three months ended March 31, 2012 on loans subject to a TDR during the period then ended.

        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

(1)

TDRs involving changes in the amount or timing of principal payments may involve principal forgiveness or deferral of periodic and/or final principal payments.

(2)

TDRs involving changes in the amount or timing of interest payments may involve a below-market interest rate.

(3)

Balances reflect charge-offs and reserves recorded during the three months ended March 31, 2011 on loans subject to a TDR during the period then ended.

Schedule of troubled debt restructuring loans that defaulted

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	$	—

(1)

Payment default constitutes failure to pay principal or interest when due per the contractual terms of the loan.

Mortgage and real estate

Loans receivable

Schedule of loans credit quality indicators

	March 31, 2012
LTV distribution in U.S. portfolio(1)(2) In millions of dollars	Less than or equal to 80%		> 80% but less than or equal to 100%		Greater than 100%
Residential first mortgages	$	35,583	$	20,160	$	25,293
Home equity loans		11,816		9,426		18,464
Total	$	47,399	$	29,586	$	43,757

(1)

Excludes loans guaranteed by U.S. government entities, loans subject to LTSCs with U.S. government-sponsored entities and loans recorded at fair value.

(2)

Excludes balances where LTV was not available. Such amounts are not material.

	December 31, 2011
LTV distribution in U.S. portfolio(1)(2) In millions of dollars	Less than or equal to 80%		> 80% but less than or equal to 100%		Greater than 100%
Residential first mortgages	$	36,422	$	21,146	$	24,425
Home equity loans		12,724		10,232		18,226
Total	$	49,146	$	31,378	$	42,651

(1)

Excludes loans guaranteed by U.S. government entities, loans subject to LTSCs with U.S. government-sponsored entities and loans recorded at fair value.

(2)

Excludes balances where LTV was not available. Such amounts are not material.