LOANS (Tables)

3 Months Ended

Mar. 31, 2013

Consumer

Loans receivable

Schedule of loans

In millions of dollars	March 31, 2013			December 31, 2012
Consumer loans
In U.S. offices
Mortgage and real estate(1)	$	120,768		$	125,946
Installment, revolving credit, and other		12,955			14,070
Cards		104,535			111,403
Commercial and industrial		5,386			5,344
	$	243,644		$	256,763
In offices outside the U.S.
Mortgage and real estate(1)	$	54,717		$	54,709
Installment, revolving credit, and other		34,020			33,958
Cards		39,522			40,653
Commercial and industrial		22,906			22,225
Lease financing		745			781
	$	151,910		$	152,326
Total Consumer loans	$	395,554		$	409,089
Net unearned income		(378	)		(418	)
Consumer loans, net of unearned income	$	395,176		$	408,671

(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, 2013

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	$	73,495	$	2,567	$	2,667	$	5,624	$	84,353	$	4,098	$	4,465
Home equity loans(5)		34,329		528		742		—		35,599		1,626		—
Credit cards		102,339		1,378		1,395		—		105,112		—		1,395
Installment and other		12,360		195		248		—		12,803		252		5
Commercial market loans		8,115		43		22		—		8,180		161		9
Total	$	230,638	$	4,711	$	5,074	$	5,624	$	246,047	$	6,137	$	5,874
In offices outside North America
Residential first mortgages	$	45,371	$	567	$	449	$	—	$	46,387	$	709	$	—
Home equity loans(5)		3		—		2		—		5		2		—
Credit cards		37,653		949		774		—		39,376		508		467
Installment and other		29,706		463		172		—		30,341		241		—
Commercial market loans		32,219		106		148		—		32,473		477		—
Total	$	144,952	$	2,085	$	1,545	$	—	$	148,582	$	1,937	$	467
Total GCB and LCL	$	375,590	$	6,796	$	6,619	$	5,624	$	394,629	$	8,074	$	6,341
Special Asset Pool (SAP)		504		18		25		—		547		75		—
Total Citigroup	$	376,094	$	6,814	$	6,644	$	5,624	$	395,176	$	8,149	$	6,341

(1)

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

(2)

Includes $1.2 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 $1.2 billion and ³ 90 days past due of $4.4 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, 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	$	75,791	$	3,074	$	3,339	$	6,000	$	88,204	$	4,922	$	4,695
Home equity loans(5)		35,740		642		843		—		37,225		1,797		—
Credit cards		108,892		1,582		1,527		—		112,001		—		1,527
Installment and other		13,319		288		325		—		13,932		179		8
Commercial market loans		7,874		32		19		—		7,925		210		11
Total	$	241,616	$	5,618	$	6,053	$	6,000	$	259,287	$	7,108	$	6,241
In offices outside North America
Residential first mortgages	$	45,496	$	547	$	485	$	—	$	46,528	$	807	$	—
Home equity loans(5)		4		—		2		—		6		2		—
Credit cards		38,920		970		805		—		40,695		516		508
Installment and other		29,350		496		167		—		30,013		254		—
Commercial market loans		31,263		106		181		—		31,550		428		—
Total	$	145,033	$	2,119	$	1,640	$	—	$	148,792	$	2,007	$	508
Total GCB and LCL	$	386,649	$	7,737	$	7,693	$	6,000	$	408,079	$	9,115	$	6,749
Special Asset Pool (SAP)		545		18		29		—		592		81		—
Total Citigroup	$	387,194	$	7,755	$	7,722	$	6,000	$	408,671	$	9,196	$	6,749

(1)

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

(2)

Includes $1.2 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 $4.7 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, 2013
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	$	15,035	$	7,445	$	49,731
Home equity loans		4,929		3,104		25,847
Credit cards		7,608		9,928		83,619
Installment and other		3,803		2,249		5,118
Total	$	31,375	$	22,726	$	164,315

(1)

Excludes loans guaranteed by U.S. government entities, loans subject to long-term standby commitments (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, 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	$	16,754	$	8,013	$	50,833
Home equity loans		5,439		3,208		26,820
Credit cards		7,833		10,304		90,248
Installment and other		4,414		2,417		5,365
Total	$	34,440	$	23,942	$	173,266

(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, 2013								Three Months Ended Mar. 31, 2013		Three Months Ended Mar. 31, 2012
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	$	19,268	$	20,220	$	3,199	$	20,004	$	217	$	215
Home equity loans		2,057		2,653		529		1,999		21		15
Credit cards		4,279		4,341		1,596		4,849		65		87
Installment and other
Individual installment and other		1,093		1,130		657		1,679		49		69
Commercial market loans		442		720		61		473		4		4
Total(7)	$	27,139	$	29,064	$	6,042	$	29,004	$	356	$	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)

$2,240 million of residential first mortgages, $423 million of home equity loans and $184 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 the last four quarters and does not include the 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 where it was determined that a concession was granted to the borrower. Smaller-balance consumer loans modified since January 1, 2008 amounted to $26.7 billion at March 31, 2013. However, information derived from Citi's risk management systems indicates that the amounts of outstanding modified loans, including those modified prior to 2008, approximated $27.6 billion at March 31, 2013.

	December 31, 2012
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	$	20,870	$	22,062	$	3,585	$	19,956
Home equity loans		2,135		2,727		636		1,911
Credit cards		4,584		4,639		1,800		5,272
Installment and other
Individual installment and other		1,612		1,618		860		1,958
Commercial market loans		439		737		60		495
Total(5)	$	29,640	$	31,783	$	6,941	$	29,592

(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)

$2,344 million of residential first mortgages, $378 million of home equity loans and $183 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 where it was determined that a concession was granted to the borrower. Smaller-balance consumer loans modified since January 1, 2008 amounted to $29.2 billion at December 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 $30.1 billion at December 31, 2012.

Schedule of troubled debt restructurings

	For the three months ended March 31, 2013
In millions of dollars except number of loans modified	Number of loans modified		Post-modification recorded investment(1)(2)		Deferred principal(3)		Contingent principal forgiveness(4)		Principal forgiveness(5)		Average interest rate reduction
North America
Residential first mortgages		9,304	$	1,244	$	5	$	—	$	54		2	%
Home equity loans		3,093		87		—		—		27		2
Credit cards		39,469		205		—		—		—		16
Installment and other revolving		13,595		98		—		—		—		6
Commercial markets(6)		57		14		—		—		—		—
Total		65,518	$	1,648	$	5	$	—	$	81
International
Residential first mortgages		1,594	$	60	$	—	$	—	$	1		1	%
Home equity loans		4		—		—		—		—		—
Credit cards		49,339		159		—		—		2		35
Installment and other revolving		11,761		80		—		—		—		19
Commercial markets(6)		86		10		—		—		—		—
Total		62,784	$	309	$	—	$	—	$	3

	For the three months ended March 31, 2012
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(5)		Average interest rate reduction
North America
Residential first mortgages		6,201	$	828	$	4	$	2	$	21		2	%
Home equity loans		2,645		106		2		—		2		4
Credit cards		65,236		345		—		—		—		17
Installment and other revolving		19,978		146		—		—		—		5
Commercial markets(6)		35		—		—		—		—		—
Total		94,095	$	1,425	$	6	$	2	$	23
International
Residential first mortgages		1,454	$	51	$	—	$	—	$	1		1	%
Home equity loans		2		—		—		—		—		—
Credit cards		53,592		153		—		—		—		29
Installment and other revolving		13,754		94		—		—		—		15
Commercial markets(6)		20		—		—		—		1		—
Total		68,822	$	298	$	—	$	—	$	2

(1)

Post-modification balances include past due amounts that are capitalized at modification date.

(2)

Post-modification balances in North America in the first quarter of 2013 include $123 million of residential first mortgages and $20 million of home equity loans to borrowers that have gone through Chapter 7 bankruptcy. These amounts include $97 million of residential first mortgages and $16 million of home equity loans that are newly classified as TDRs as a result of OCC guidance received in the third quarter of 2012, as described above.

(3)

Represents portion of contractual loan principal that is non-interest bearing but still due from borrower. Such deferred principal is charged-off at the time of permanent modification to the extent that the related loan balance exceeds the underlying collateral value.

(4)

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

(5)

Represents portion of contractual loan principal that is forgiven at the time of permanent modification.

(6)

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, 2013(1)		March 31, 2012(1)
North America
Residential first mortgages	$	236	$	439
Home equity loans		42		30
Credit cards		62		165
Installment and other revolving		19		34
Commercial markets		—		—
Total	$	359	$	668
International
Residential first mortgages	$	16	$	15
Home equity loans		—
Credit cards		57		53
Installment and other revolving		32		36
Commercial markets		2		—
Total	$	107	$	104

(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	March 31, 2013			December 31, 2012
Corporate
In U.S. offices
Commercial and industrial	$	28,558		$	26,985
Financial institutions		16,500			18,159
Mortgage and real estate(1)		25,576			24,705
Installment, revolving credit and other		33,621			32,446
Lease financing		1,369			1,410
	$	105,624		$	103,705
In offices outside the U.S.
Commercial and industrial	$	85,258		$	82,939
Installment, revolving credit and other		14,733			14,958
Mortgage and real estate(1)		6,231			6,485
Financial institutions		38,332			37,739
Lease financing		593			605
Governments and official institutions		1,265			1,159
	$	146,412		$	143,885
Total Corporate loans	$	252,036		$	247,590
Net unearned income (loss)		(848	)		(797	)
Corporate loans, net of unearned income	$	251,188		$	246,793

(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, 2013

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	$	61	$	5	$	66	$	1,171	$	111,400	$	112,637
Financial institutions		5		—		5		449		52,885		53,339
Mortgage and real estate		234		105		339		630		30,717		31,686
Leases		2		1		3		189		1,770		1,962
Other		135		5		140		65		47,573		47,778
Loans at fair value												3,786
Total	$	437	$	116	$	553	$	2,504	$	244,345	$	251,188

(1)

Corporate loans that are ³ 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, 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	$	38	$	10	$	48	$	1,078	$	107,650	$	108,776
Financial institutions		5		—		5		454		53,858		54,317
Mortgage and real estate		224		109		333		680		30,057		31,070
Leases		7		—		7		52		1,956		2,015
Other		70		6		76		69		46,414		46,559
Loans at fair value												4,056
Total	$	344	$	125	$	469	$	2,333	$	239,935	$	246,793

(1)

Corporate loans that are ³ 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.

Schedule of loans credit quality indicators

	Recorded investment in loans(1)
In millions of dollars	March 31, 2013		December 31, 2012
Investment grade(2)
Commercial and industrial	$	76,662	$	73,822
Financial institutions		42,974		43,895
Mortgage and real estate		12,764		12,587
Leases		1,363		1,404
Other		43,817		42,575
Total investment grade	$	177,580	$	174,283
Non-investment grade(2)
Accrual
Commercial and industrial	$	34,804	$	33,876
Financial institutions		9,916		9,968
Mortgage and real estate		3,069		2,858
Leases		410		559
Other		3,896		3,915
Non-accrual
Commercial and industrial		1,171		1,078
Financial institutions		449		454
Mortgage and real estate		630		680
Leases		189		52
Other		65		69
Total non-investment grade	$	54,599	$	53,509
Private Banking loans managed on a delinquency basis(2)	$	15,223	$	14,945
Loans at fair value		3,786		4,056
Corporate loans, net of unearned income	$	251,188	$	246,793

(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 non-accrual corporate loans with and without specific allowance

	At and for the three months ended March 31, 2013
In millions of dollars	Recorded investment(1)		Unpaid principal balance		Related specific allowance		Average carrying value(2)		Interest income recognized(4)
Non-accrual Corporate loans
Commercial and industrial	$	1,171	$	1,416	$	146	$	1,061	$	7
Financial institutions		449		499		14		476		—
Mortgage and real estate		630		737		69		732		1
Lease financing		189		210		72		64		—
Other		65		237		23		126		—
Total non-accrual Corporate loans	$	2,504	$	3,099	$	324	$	2,459	$	8

	At and for the three months ended December 31, 2012
In millions of dollars	Recorded investment(1)		Unpaid principal balance		Related specific allowance		Average carrying value(3)
Non-accrual Corporate loans
Commercial and industrial	$	1,078	$	1,368	$	155	$	1,076
Loans to financial institutions		454		504		14		518
Mortgage and real estate		680		810		74		811
Lease financing		52		61		16		19
Other		69		245		25		154
Total non-accrual Corporate loans	$	2,333	$	2,988	$	284	$	2,578

	March 31, 2013				December 31, 2012
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	$	539	$	146	$	608	$	155
Financial institutions		21		14		41		14
Mortgage and real estate		324		69		345		74
Lease financing		102		72		47		16
Other		57		23		59		25
Total non-accrual Corporate loans with specific allowance	$	1,043	$	324	$	1,100	$	284
Non-accrual Corporate loans without specific allowance
Commercial and industrial	$	632			$	470
Financial institutions		428				413
Mortgage and real estate		306				335
Lease financing		87				5
Other		8				10
Total non-accrual Corporate loans without specific allowance	$	1,461		N/A	$	1,233		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.

(4)

Interest income recognized for the three months ended March 31, 2012 was $26 million.

N/A Not Applicable

Schedule of troubled debt restructurings

The following table presents TDRs occurring during the three-month period ended March 31, 2013.

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	$	41	$	—	$	6	$	—	$	—
Financial institutions		—		—		—		—		—		—
Mortgage and real estate		14		—		14		—		—		—
Other		4		—		—		4		—		—
Total	$	65	$	41	$	14	$	10	$	—	$	—

(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, 2013 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, 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.

Schedule of troubled debt restructuring loans that defaulted

In millions of dollars	TDR Balances at March 31, 2013		TDRs in payment default during the year ended March 31, 2013(1)		TDR Balances at March 31, 2012		TDRs in payment default during the year ended March 31, 2012(1)
Commercial and industrial	$	311	$	15	$	272	$	—
Financial institutions		17		—		551		—
Mortgage and real estate		136		—		120		—
Other		437		—		20		—
Total	$	901	$	15	$	963	$	—

(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, 2013
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	$	41,377	$	17,908	$	12,797
Home equity loans		12,050		8,897		12,373
Total	$	53,427	$	26,805	$	25,170

(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, 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	$	41,555	$	19,070	$	14,995
Home equity loans		12,611		9,529		13,153
Total	$	54,166	$	28,599	$	28,148

(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.