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PREFERRED STOCK (Tables)
6 Months Ended
Jun. 30, 2013
PREFERRED STOCK  
Summary of preferred stock outstanding
   
   
   
  Carrying value
in millions of dollars
 
 
  Dividend
rate
  Redemption
price per depositary
share / preference share
  Number of
depositary
shares
  June 30,
2013
  December 31,
2012
 

Series AA(1)

    8.125 % $ 25     3,870,330   $ 97   $ 97  

Series A(2)

    5.950 %   1,000     1,500,000     1,500     1,500  

Series B(3)

    5.900 %   1,000     750,000     750     750  

Series C(4)

    5.800 %   25     23,000,000     575      

Series D(5)

    5.350 %   1,000     1,250,000     1,250      

Series E(6)

    8.400 %   1,000     121,254     121     121  

Series F(7)

    8.500 %   25     2,863,369         71  

Series T(8)

    6.500 %   50     453,981         23  
                             

 

                    $ 4,293   $ 2,562  
                             

(1)
Issued on January 25, 2008 as depositary shares, each representing a 1/1,000th interest in a share of the corresponding series of non-cumulative preferred stock. Redeemable in whole or in part on or after February 15, 2018. The dividend of $0.51 per depositary share is payable quarterly when, as and if declared by the Company's Board of Directors. Redemption is subject to a capital replacement covenant.

(2)
Issued on October 29, 2012 as depositary shares, each representing a 1/25th interest in a share of perpetual 5.950% fixed rate/floating rate non-cumulative preferred stock. Redeemable in whole or in part on or after January 30, 2023. The first dividend date was July 30, 2013. The dividend is paid semi-annually, when, as and if declared by Citi's Board of Directors, on January 30 and July 30. Redemption is subject to a capital replacement covenant.

(3)
Issued on December 13, 2012 as depositary shares, each representing a 1/25th interest in a share of perpetual 5.90% fixed rate/floating rate non-cumulative preferred stock. Redeemable in whole or in part on or after February 15, 2023. The first dividend date, if declared by Citigroup's Board of Directors, is August 15, 2013. The dividend is paid semi-annually when, as and if declared by Citi's Board of Directors, on February 15 and August 15. Redemption is subject to a capital replacement covenant.

(4)
Issued on March 26, 2013 as depositary shares, each representing a 1/1,000th interest in a share of perpetual 5.80% non-cumulative preferred stock. Redeemable (i) in whole or in part, from time to time, on any dividend payment date on or after April 22, 2018, or (ii) in whole but not in part at any time within 90 days following a regulatory capital event. The first dividend date was July 22, 2013. The dividend is paid quarterly in arrears, when, as and if declared by Citi's Board of Directors, on each January 22, April 22, July 22 and October 22.

(5)
Issued on April 30, 2013 as depositary shares, each representing a 1/25th interest in a share of perpetual 5.35% fixed rate/floating rate non-cumulative preferred stock. Redeemable (i) in whole or in part, from time to time, on any dividend payment date on or after May 15, 2023, or (ii) in whole but not in part at any time within 90 days following a regulatory capital event. The first dividend date, if declared by Citigroup's Board of Directors, is November 15, 2013. The dividend is paid semi-annually, when, as and if declared by Citi's Board of Directors, on May 15 and November 15.

(6)
Issued on April 28, 2008 as depositary shares, each representing a 1/25th interest in a share of the corresponding series of fixed rate/floating rate non-cumulative preferred stock. Redeemable in whole or in part on or after April 30, 2018. Dividends are payable semi-annually for the first 10 years until April 30, 2018 at $42.70 per depositary share and thereafter quarterly at a floating rate when, as and if declared by the Company's Board of Directors.

(7)
The Series F preferred stock was redeemed in full on June 15, 2013.

(8)
The Series T preferred stock was redeemed in full on June 17, 2013.