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LOANS (Tables)
 9 Months Ended
Sep. 30, 2012
Consumer
  
Loans receivable  
Schedule of loans

 

 

In millions of dollars   September 30,
2012 		  December 31,
2011 		 

Consumer loans

              

In U.S. offices

              

Mortgage and real estate(1)

   $ 128,737   $ 139,177  

Installment, revolving credit, and other

     14,210     15,616  

Cards

     108,819     117,908  

Commercial and industrial

     5,042     4,766  

Lease financing

     —     1  
           

 

   $ 256,808   $ 277,468  
           

In offices outside the U.S.

              

Mortgage and real estate(1)

   $ 54,529   $ 52,052  

Installment, revolving credit, and other

     36,290     34,613  

Cards

     39,671     38,926  

Commercial and industrial

     20,070     19,975  

Lease financing

     742     711  
           

 

   $ 151,302   $ 146,277  
           

Total Consumer loans

   $ 408,110   $ 423,745  

Net unearned income

     (358 )   (405 )
           

Consumer loans, net of unearned income

   $ 407,752   $ 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 September 30, 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(5) 		  90 days past due
and accruing 		 

In North America offices

                                            

Residential first mortgages

   $ 76,311   $ 3,495   $ 3,684   $ 6,235   $ 89,725   $ 5,295   $ 4,842  

Home equity loans(6)

     37,071     703     853     —     38,627     1,889     —  

Credit cards

     106,261     1,590     1,496     —     109,347     —     1,496  

Installment and other

     13,656     297     327     —     14,280     318     10  

Commercial market loans

     7,379     29     15     —     7,423     149     9  
                               

Total

   $ 240,678   $ 6,114   $ 6,375   $ 6,235   $ 259,402   $ 7,651   $ 6,357  
                               

In offices outside North America

                                            

Residential first mortgages

   $ 45,305   $ 606   $ 479   $ —   $ 46,390   $ 778   $ —  

Home equity loans(6)

     4     —     2     —     6     2     —  

Credit cards

     37,967     959     778     —     39,704     513     487  

Installment and other

     29,180     508     197     —     29,885     260     —  

Commercial market loans

     31,435     105     167     —     31,707     466     —  
                               

Total

   $ 143,891   $ 2,178   $ 1,623   $ —   $ 147,692   $ 2,019   $ 487  
                               

Total GCB and LCL

   $ 384,569   $ 8,292   $ 7,998   $ 6,235   $ 407,094   $ 9,670   $ 6,844  

Special Asset Pool (SAP)

   $ 594   $ 31   $ 33   $ —   $ 658   $ 91     —  
                               

Total Citigroup

   $ 385,163   $ 8,323   $ 8,031   $ 6,235   $ 407,752   $ 9,761   $ 6,844  
                               
(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 $1.4 billion and ³ 90 days past due of $4.8 billion.

(5)
Includes $1.5 billion of loans ($1.2 billion of residential first mortgages and $0.3 billion of home equity loans) in North America that were reclassified to non-accrual as a result of new OCC guidance with respect to the treatment of mortgage loans where the borrower has gone through Chapter 7 bankruptcy. (See Note 1 to the Consolidated Financial Statements.) Of the $1.5 billion of such non-accrual loans, $1.3 billion was current as of September 30, 2012.

(6)
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

   $ 81,081   $ 3,550   $ 4,121   $ 6,686   $ 95,438   $ 4,176   $ 5,054  

Home equity loans(5)

     41,585     868     1,022     —     43,475     982     —  

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

   $ 258,546   $ 7,117   $ 7,630   $ 6,686   $ 279,979   $ 5,816   $ 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

   $ 396,942   $ 9,220   $ 9,223   $ 6,686   $ 422,071   $ 7,717   $ 7,626  

Special Asset Pool (SAP)

     1,193     29     47     —     1,269     115     —  
                               

Total Citigroup

   $ 398,135   $ 9,249   $ 9,270   $ 6,686   $ 423,340   $ 7,832   $ 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

 

 

 
   September 30, 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

   $ 17,497   $ 8,270   $ 51,322  

Home equity loans

     5,646     3,295     27,820  

Credit cards

     7,790     10,128     87,334  

Installment and other

     4,422     2,459     5,457  
               

Total

   $ 35,355   $ 24,152   $ 171,933  
               
(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

     6,783     3,703     30,884  

Credit cards

     9,621     10,905     93,234  

Installment and other

     3,789     2,858     6,704  
               

Total

   $ 40,563   $ 26,281   $ 183,661  
               
(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

 

Impaired Consumer Loans

 
   Sept. 30, 2012   Three Months
Ended
Sept. 30, 2012 		  Three Months
Ended
Sept. 30, 2011 		  Nine Months
Ended
Sept. 30, 2012 		  Nine Months
Ended
Sept.30, 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) 		  Interest
income
recognized(5)(6) 		  Interest
income
recognized(5)(6) 		 

Mortgage and real estate

                                                  

Residential first mortgages

   $ 21,169   $ 22,444   $ 2,809   $ 19,643   $ 251   $ 220   $ 674   $ 674  

Home equity loans

     2,134     2,319     1,248     1,820     31     21     64     51  

Credit cards

     5,014     5,071     2,032     5,800     75     98     240     296  

Installment and other

                                                  

Individual installment and other

     2,013     2,018     858     2,121     88     75     218     228  

Commercial market loans

     519     700     74     514     5     3     18     19  
                                   

Total(7)

   $ 30,849   $ 32,552   $ 7,021   $ 29,898   $ 450   $ 417   $ 1,214   $ 1,268  
                                   
(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)
$2,517 million of residential first mortgages, $438 million of home equity loans and $186 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 September 30, 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 $31.3 billion at September 30, 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(5)

   $ 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)
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

 

Three months ended September 30, 2012:

In millions of dollars except number of loans modified   Number of
loans modified 		  Post-modification
recorded
investment(1)(2) 		  Chapter 7
bankruptcy(2) 		  Deferred
principal(3) 		  Contingent
principal
forgiveness(4) 		  Principal
forgiveness 		  Average
interest rate
reduction 		 

North America

                                            

Residential first mortgages

     33,751   $ 3,905   $ 181   $ 2   $ —   $ 66     1 %

Home equity loans

     23,728     507     454     1     —     8     —  

Credit cards

     46,178     229     —     —     —     —     16  

Installment and other revolving

     14,759     106     —     —     —     —     6  

Commercial markets(5)

     42     7     —     —     —     —     —  
                               

Total

     118,458   $ 4,754   $ 635   $ 3   $ —   $ 74        
                               

International

                                            

Residential first mortgages

     1,078   $ 55   $ —   $ —   $ —   $ 1     1 %

Home equity loans

     9     1     —     —     —     —     —  

Credit cards

     51,149     162     —     —     —     —     28  

Installment and other revolving

     10,807     61     —     —     —     —     34  

Commercial markets(5)

     58     73     —     —     —     —     —  
                               

Total

     63,101   $ 352     —     —     —   $ 1        
                               

Three months ended September 30, 2011:

In millions of dollars except number of loans modified   Number of
loans modified 		  Post-modification
recorded
investment(1) 		  Deferred
principal(3) 		  Contingent
principal
forgiveness(4) 		  Principal
forgiveness 		  Average
interest rate
reduction 		 

North America

                                      

Residential first mortgages

     7,448   $ 1,187   $ —   $ 10   $ —     2 %

Home equity loans

     3,770     195     —     —     —     4  

Credit cards

     146,783     853     —     —     —     19  

Installment and other revolving

     23,289     173     —     —     —     4  

Commercial markets(5)

     54     6     —     —     —     —  
                           

Total

     181,344   $ 2,414   $ —   $ 10   $ —        
                           

International

                                      

Residential first mortgages

     2,283   $ 78   $ —   $ —   $ 1     1 %

Home equity loans

     10     1     —     —     —     —  

Credit cards

     48,800     142     —     —     —     26  

Installment and other revolving

     32,716     128     —     —     1     12  

Commercial markets(5)

     34     30     —     —     —     —  
                           

Total

     83,843   $ 379   $ —   $ —   $ 2        
                           
(1)
Post-modification balances include past due amounts that are capitalized at modification date.

(2)
Post-modification balances in North America include $2,797 million of residential first mortgages and $473 million of home equity loans to borrowers that have gone through Chapter 7 bankruptcy. These amounts include $1,327 million of residential first mortgages and $387 million of home equity loans that are now classified as TDRs as a result of new OCC guidance. Chapter 7 bankruptcy column amounts are the incremental charge-offs that were recorded in the third quarter of 2012 as a result of this new OCC guidance.

(3)
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.

(4)
Represents portion of loan principal that is non-interest bearing and, depending upon borrower performance, eligible for forgiveness.

(5)
Commercial markets loans are generally borrower-specific modifications and incorporate changes in the amount and/or timing of principal and/or interest.

Nine months ended September 30, 2012:

In millions of dollars except number of loans modified   Number of
loans modified 		  Post-modification
recorded
investment(1)(2) 		  Chapter 7
bankruptcy(2) 		  Deferred
principal(3) 		  Contingent
principal
forgiveness(4) 		  Principal
forgiveness 		  Average
interest rate
reduction 		 

North America

                                            

Residential first mortgages

     47,567   $ 6,365   $ 181   $ 8   $ 2   $ 405     2 %

Home equity loans

     28,584     689     454     4     —     34     2  

Credit cards

     161,577     841     —     —     —     —     17  

Installment and other revolving

     49,991     365     —     —     —     —     6  

Commercial markets(5)

     138     13     —     —     —     —     —  
                               

Total

     287,857   $ 8,273   $ 635   $ 12   $ 2   $ 439        
                               

International

                                            

Residential first mortgages

     4,113   $ 176   $ —   $ —   $ —   $ 2     1 %

Home equity loans

     39     3     —     —     —     —     —  

Credit cards

     156,477     465     —     —     —     1     29  

Installment and other revolving

     34,042     202     —     —     —     1     23  

Commercial markets(5)

     281     129     —     —     1     2     —  
                               

Total

     194,952   $ 975   $ —   $ —   $ 1   $ 6        
                               

Nine months ended September 30, 2011:

In millions of dollars except number of loans modified   Number of
loans modified 		  Post-modification
recorded
investment(1) 		  Deferred
principal(3) 		  Contingent
principal
forgiveness(4) 		  Principal
forgiveness 		  Average
interest rate
reduction 		 

North America

                                      

Residential first mortgages

     26,823   $ 4,224   $ 57   $ 45   $ —     2 %

Home equity loans

     14,521     759     16     1     —     4  

Credit cards

     509,214     2,976     —     —     —     19  

Installment and other revolving

     77,858     586     —     —     —     4  

Commercial markets(5)

     491     49     —     —     1     —  
                           

Total

     628,907   $ 8,594   $ 73   $ 46   $ 1        
                           

International

                                      

Residential first mortgages

     5,987   $ 242   $ —   $ —   $ 5     1 %

Home equity loans

     49     3     —     —     —     —  

Credit cards

     172,582     475     —     —     2     23  

Installment and other revolving

     115,034     459     —     —     8     11  

Commercial markets(5)

     43     48     —     —     —     —  
                           

Total

     293,695   $ 1,227   $ —   $ —   $ 15        
                           
(1)
Post-modification balances include past due amounts that are capitalized at modification date.

(2)
Post-modification balances in North America include $2,797 million of residential first mortgages and $473 million of home equity loans to borrowers that have gone through Chapter 7 bankruptcy. These amounts include $1,327 million of residential first mortgages and $387 million of home equity loans that are now classified as TDRs as a result of new OCC guidance. Chapter 7 bankruptcy column amounts are the incremental charge-offs that were recorded in the third quarter of 2012 as a result of this new OCC guidance.

(3)
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.

(4)
Represents portion of loan principal that is non-interest bearing and, depending upon borrower performance, eligible for forgiveness.

(5)
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   Three Months
Ended
Sept. 30, 2012(1) 		  Three Months
Ended
Sept. 30, 2011(1) 		  Nine Months
Ended
Sept. 30, 2012(1) 		  Nine Months
Ended
Sept.30, 2011(1) 		 

North America

                          

Residential first mortgages

   $ 240   $ 448   $ 893   $ 1,303  

Home equity loans

     21     30     73     82  

Credit cards

     82     284     362     1,077  

Installment and other revolving

     31     35     94     75  

Commercial markets

     —     1     —     2  
                   

Total

   $ 374   $ 798   $ 1,422   $ 2,539  
                   

International

                          

Residential first mortgages

   $ 12   $ 27   $ 42   $ 96  

Home equity loans

     —     —     —     2  

Credit cards

     52     70     155     265  

Installment and other revolving

     25     47     90     193  

Commercial markets

     2     8     3     11  
                   

Total

   $ 91   $ 152   $ 290   $ 567  
                   
(1)
Default is defined as 60 days past due, except for classifiably managed commercial markets loans, where default is defined as 90+ days past due.
Corporate
  
Loans receivable  
Schedule of loans

 

 

In millions of dollars   September 30,
2012 		  December 31,
2011 		 

Corporate

              

In U.S. offices

              

Commercial and industrial

   $ 30,056   $ 20,830  

Loans to financial institutions

     17,376     15,113  

Mortgage and real estate(1)

     24,221     21,516  

Installment, revolving credit and other

     32,987     33,182  

Lease financing

     1,394     1,270  
           

 

   $ 106,034   $ 91,911  
           

In offices outside the U.S.

              

Commercial and industrial

   $ 85,854   $ 79,764  

Installment, revolving credit and other

     16,758     14,114  

Mortgage and real estate(1)

     6,214     6,885  

Loans to financial institutions

     35,014     29,794  

Lease financing

     574     568  

Governments and official institutions

     984     1,576  
           

 

   $ 145,398   $ 132,701  
           

Total Corporate loans

   $ 251,432   $ 224,612  

Net unearned income (loss)

     (761 )   (710 )
           

Corporate loans, net of unearned income

   $ 250,671   $ 223,902  
           
(1)
Loans secured primarily by real estate.
Schedule of loan delinquency and non-accrual details

 

 

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

   $ 48   $ 16   $ 64   $ 974   $ 113,854   $ 114,892  

Financial institutions

     —     —     —     465     50,111     50,576  

Mortgage and real estate

     207     109     316     841     29,167     30,324  

Leases

     4     —     4     6     1,958     1,968  

Other

     96     6     102     143     48,563     48,808  

Loans at fair value

                                   4,103  
                           

Total

   $ 355   $ 131   $ 486   $ 2,429   $ 243,653   $ 250,671  
                           
(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   $ 1,134   $ 98,157   $ 99,414  

Financial institutions

     —     2     2     763     42,642     43,407  

Mortgage and real estate

     224     125     349     1,039     26,908     28,296  

Leases

     3     11     14     13     1,811     1,838  

Other

     225     15     240     287     46,481     47,008  

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.

        

 
   September 30, 2012   Three Months Ended
September 30, 2012 		  Nine Months Ended
September 30, 2012 		 
In millions of dollars   Recorded
investment(1) 		  Unpaid
principal balance 		  Related specific
allowance 		  Average
carrying value(2) 		  Interest income
recognized 		  Interest income
recognized 		 

Non-accrual corporate loans

                                      

Commercial and industrial

   $ 974   $ 1,314   $ 152   $ 1,090   $ 22   $ 57  

Loans to financial institutions

     465     509     14     595     —     —  

Mortgage and real estate

     841     1,118     73     900     1     22  

Lease financing

     6     14     —     9     1     2  

Other

     143     478     15     208     1     7  
                           

Total non-accrual Corporate loans

   $ 2,429   $ 3,433   $ 254   $ 2,802   $ 25   $ 88  
                           


 

 
   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

   $ 1,134   $ 1,455   $ 186   $ 1,446  

Loans to financial institutions

     763     1,127     28     1,056  

Mortgage and real estate

     1,039     1,245     151     1,487  

Lease financing

     13     21     —     25  

Other

     287     640     55     420  
                   

Total non-accrual Corporate loans

   $ 3,236   $ 4,488   $ 420   $ 4,434  
                   


 

In millions of dollars   Three Months Ended
September 30, 2011 		  Nine Months Ended
September 30, 2011 		 

Interest income recognized

   $ 31   $ 77  
           


 

 
   September 30, 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

   $ 398   $ 152   $ 501   $ 186  

Loans to financial institutions

     41     14     78     28  

Mortgage and real estate

     369     73     540     151  

Other

     40     15     120     55  
                   

Total non-accrual Corporate loans with specific allowance

   $ 848   $ 254   $ 1,239   $ 420  
                   

Non-accrual Corporate loans without specific allowance

                          

Commercial and industrial

   $ 576         $ 633        

Loans to financial institutions

     424           685        

Mortgage and real estate

     472           499        

Lease financing

     6           13        

Other

     103           167        
                   

Total non-accrual Corporate loans without specific allowance

   $ 1,581     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.
Schedule of loans credit quality indicators

 

 

 
   Recorded investment in loans(1)  
In millions of dollars   September 30,
2012 		  December 31,
2011 		 

Investment grade(2)

              

Commercial and industrial

   $ 78,820   $ 67,282  

Financial institutions

     39,973     35,159  

Mortgage and real estate

     12,176     10,729  

Leases

     1,293     1,161  

Other

     43,903     42,428  
           

Total investment grade

   $ 176,165   $ 156,759  
           

Non-investment grade(2)

              

Accrual

              

Commercial and industrial

   $ 35,098   $ 30,998  

Financial institutions

     10,138     7,485  

Mortgage and real estate

     3,085     3,812  

Leases

     669     664  

Other

     4,762     4,293  

Non-accrual

              

Commercial and industrial

     974     1,134  

Financial institutions

     465     763  

Mortgage and real estate

     841     1,039  

Leases

     6     13  

Other

     143     287  
           

Total non-investment grade

   $ 56,181   $ 50,488  
           

Private Banking loans managed on a

              

delinquency basis(2)

   $ 14,222   $ 12,716  

Loans at fair value

     4,103     3,939  
           

Corporate loans, net of unearned income

   $ 250,671   $ 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

 

 

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

   $ 47   $ 47   $ —   $ —   $ —   $ —  

Loans to financial institutions

     —     —     —     —     —     —  

Mortgage and real estate

     1     —     —     1     —     —  

Other

     —     —     —     —     —     —  
                           

Total

   $ 48   $ 47   $ —   $ 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 September 30, 2012 on loans subject to a TDR during the period then ended.

        The following table presents Corporate TDRs occurring during the three-month period ended September 30, 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

   $ 70   $ —   $ —   $ 70   $ —   $ 15  

Loans to financial institutions

     —     —     —     —     —     —  

Mortgage and real estate

     16     —     14     2     —     —  

Other

     74     —     67     7     —     —  
                           

Total

   $ 160   $ —   $ 81   $ 79   $ —   $ 15  
                           
(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 September 30, 2011 on loans subject to a TDR during the period then ended.

        The following table presents Corporate TDRs occurring during the nine-month period ended September 30, 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

   $ 86   $ 71   $ 4   $ 11   $ —   $ 1  

Loans to financial institutions

     —     —     —     —     —     —  

Mortgage and real estate

     94     60     —     34     —     —  

Other

     —     —     —     —     —     —  
                           

Total

   $ 180   $ 131   $ 4   $ 45   $ —   $ 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 nine months ended September 30, 2012 on loans subject to a TDR during the period then ended.

        The following table presents Corporate TDRs occurring during the nine-month period ended September 30, 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

   $ 110   $ —   $ —   $ 110   $ —   $ 16  

Loans to financial institutions

     —     —     —     —     —     —  

Mortgage and real estate

     244     3     14     227     4     37  

Other

     74     —     67     7     —     —  
                           

Total

   $ 428   $ 3   $ 81   $ 344   $ 4   $ 53  
                           
(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 nine months ended September 30, 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
Sept. 30, 2012 		  TDRs in
payment default
Three Months Ended
Sept. 30, 2012 		  TDRs in
payment default
Nine Months Ended
Sept. 30, 2012 		  TDR Balances at
Sept. 30, 2011 		  TDRs in
payment default
Three Months Ended
Sept. 30, 2011 		  TDRs in
payment default
Nine Months Ended
Sept. 30, 2011 		 

Commercial and industrial

   $ 395   $ 45   $ 52   $ 419   $ 6   $ 7  

Loans to financial institutions

     21     —     —     579     —     —  

Mortgage and real estate

     127     —     —     263     —     —  

Other

     557     —     —     100     —     —  
                           

Total

   $ 1,100   $ 45   $ 52   $ 1,361   $ 6   $ 7  
                           
(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

 

 

 
   September 30, 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

   $ 41,550   $ 19,298   $ 16,243  

Home equity loans

     13,020     9,939     13,621  
               

Total

   $ 54,570   $ 29,237   $ 29,864  
               
(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.