ALLOWANCE FOR CREDIT LOSSES (Tables)

3 Months Ended

Mar. 31, 2013

ALLOWANCE FOR CREDIT LOSSES

Allowance for credit losses

	Three Months Ended March 31,
In millions of dollars	2013			2012
Allowance for loan losses at beginning of period	$	25,455		$	30,115
Gross credit losses(1)		(3,551	)		(4,771	)
Gross recoveries		590			816
Net credit losses (NCLs)	$	(2,961	)	$	(3,955	)
NCLs replenishments	$	2,961		$	3,955
Net reserve builds (releases)		(308	)		(194	)
Net specific reserve builds (releases)(1)		(358	)		(933	)
Total provision for credit losses	$	2,295		$	2,828
Other, net(2)		(1,062	)		32
Allowance for loan losses at end of period	$	23,727		$	29,020
Allowance for credit losses on unfunded lending commitments at beginning of period(3)	$	1,119		$	1,136
Provision for unfunded lending commitments		14			(38	)
Other, net		(1	)		(1	)
Allowance for credit losses on unfunded lending commitments at end of period(3)	$	1,132		$	1,097
Total allowance for loans, leases, and unfunded lending commitments	$	24,859		$	30,117

(1)

The first quarter of 2012 included approximately $370 million of incremental charge-offs related to previously deferred principal balances on modified mortgages related to anticipated forgiveness of principal in connection with the national mortgage settlement. There was a corresponding approximately $350 million reserve release in the first quarter of 2012 specific to these charge-offs.

(2)

The first quarter of 2013 primarily includes reductions of approximately $855 million related to the sale or transfer to held-for-sale of various U.S. loan portfolios and a reduction of $165 million related to a transfer to held-for-sale of a loan portfolio in Greece. The first quarter of 2012 primarily includes reductions of approximately $145 million related to the sale or transfer to held-for-sale of various U.S. loan portfolios.

(3)

Represents additional credit loss reserves for unfunded lending commitments and letters of credit recorded in Other Liabilities on the Consolidated Balance Sheet.

Schedule of allowance for credit losses and investment in loans by portfolio segment

	Three Months Ended March 31, 2013
In millions of dollars	Corporate			Consumer			Total
Allowance for loan losses at beginning of year	$	2,776		$	22,679		$	25,455
Charge-offs		(60	)		(3,491	)		(3,551	)
Recoveries		15			575			590
Replenishment of net charge-offs		45			2,916			2,961
Net reserve releases		(31	)		(277	)		(308	)
Net specific reserve builds (releases)		42			(400	)		(358	)
Other		(8	)		(1,054	)		(1,062	)
Ending balance	$	2,779		$	20,948		$	23,727

	March 31, 2013						December 31, 2012
In millions of dollars	Corporate		Consumer		Total		Corporate		Consumer		Total
Allowance for loan losses
Determined in accordance with ASC 450-20	$	2,394	$	14,880	$	17,274	$	2,429	$	15,703	$	18,132
Determined in accordance with ASC 310-10-35		324		6,032		6,356		284		6,941		7,225
Determined in accordance with ASC 310-30		61		36		97		63		35		98
Total allowance for loan losses	$	2,779	$	20,948	$	23,727	$	2,776	$	22,679	$	25,455
Loans, net of unearned income
Loans collectively evaluated for impairment in accordance with ASC 450-20	$	244,446	$	366,376	$	610,822	$	239,849	$	377,374	$	617,223
Loans evaluated for impairment in accordance with ASC 310-10-35		2,849		27,139		29,988		2,776		29,640		32,416
Loans acquired with deteriorated credit quality in accordance with ASC 310-30		107		459		566		112		426		538
Loans held at fair value		3,786		1,202		4,988		4,056		1,231		5,287
Total loans, net of unearned income	$	251,188	$	395,176	$	646,364	$	246,793	$	408,671	$	655,464