16. DEBT

Short-Term Borrowings

Short-term borrowings consist of commercial paper and other borrowings at September 30, 2013 and December 31, 2012 as follows:

*In millions of dollars*	September 30, 2013		December 31, 2012

Commercial paper
Significant Citibank Entities(1)	$	17,581	$	11,092
Parent(2)		316		378

	$	17,897	$	11,470
Other borrowings(3)		41,007		40,557

Total	$	58,904	$	52,027

(1): Significant Citibank Entities consists of Citibank, N.A. units domiciled in the U.S., Western Europe, Hong Kong and Singapore.
(2): Parent includes the parent holding company (Citigroup Inc.) and Citi's broker-dealer subsidiaries that are consolidated into Citigroup.
(3): At September 30, 2013 and December 31, 2012, collateralized short-term advances from the Federal Home Loan Banks were $11 billion and $4 billion, respectively.

Borrowings under bank lines of credit may be at interest rates based on LIBOR, CD rates, the prime rate, or bids submitted by the banks. Citigroup pays commitment fees for its lines of credit.

Some of Citigroup's parent subsidiaries have credit facilities with Citigroup's subsidiary depository institutions, including Citibank, N.A. Borrowings under these facilities are secured in accordance with Section 23A of the Federal Reserve Act.

Citigroup Global Markets Holdings Inc. (CGMHI) has borrowing agreements consisting of facilities that CGMHI has been advised are available, but where no contractual lending obligation exists. These arrangements are reviewed on an ongoing basis to ensure flexibility in meeting CGMHI's short-term requirements.

Long-Term Debt

*In millions of dollars*	September 30, 2013		December 31, 2012

Citigroup Inc.(1)	$	159,698	$	176,553
Bank(2)		53,004		51,234
Broker-dealer(3)		8,891		11,676

Total(4)	$	221,593	$	239,463

(1): Parent holding company Citigroup Inc.
(2): Represents the Significant Citibank Entities as well as other Citibank and Banamex entities. At September 30, 2013 and December 31, 2012, collateralized long-term advances from the Federal Home Loan Banks were $14.3 billion and $16.3, respectively.
(3): Represents broker-dealer subsidiaries that are consolidated into Citigroup Inc., the parent holding company.
(4): Includes senior notes with carrying values of $124 million issued to outstanding Safety First Trusts at September 30, 2013 and $186 million issued to these trusts at December 31, 2012. Citigroup owns all of the voting securities of the Safety First Trusts. The Safety First Trusts have no assets, operations, revenues or cash flows other than those related to the issuance, administration and repayment of the Safety First Trust securities and the Safety First Trusts' common securities.

Long-term debt outstanding includes trust preferred securities with a balance sheet carrying value of $4.3 billion and $10.1 billion at September 30, 2013 and December 31, 2012, respectively. In issuing these trust preferred securities, Citi formed statutory business trusts under the laws of the State of Delaware. The trusts exist for the exclusive purposes of (i) issuing trust preferred securities representing undivided beneficial interests in the assets of the trust; (ii) investing the gross proceeds of the trust preferred securities in junior subordinated deferrable interest debentures (subordinated debentures) of its parent; and (iii) engaging in only those activities necessary or incidental thereto. Generally, upon receipt of certain regulatory approvals, Citigroup has the right to redeem these securities upon the date specified in the respective security. The respective common securities issued by each trust and held by Citigroup are redeemed concurrently with the redemption of the applicable trust preferred securities.

On September 13, 2013, Citi completed an exchange of $2.225 billion of trust preferred securities under Citigroup Capital XXXIII that were held by the Federal Deposit Insurance Corporation. These securities were exchanged for approximately $2.42 billion of subordinated debt, issued pursuant to two tranches.

The following table summarizes the Company's outstanding trust preferred securities at September 30, 2013:

										Junior subordinated debentures owned by trust

								Common shares issued to parent		Junior subordinated debentures owned by trust
Trust *In millions of dollars, except share amounts*	Issuance date		Securities issued		Liquidation value(1)		Coupon rate	Common shares issued to parent		Amount		Maturity		Redeemable by issuer beginning
Citigroup Capital III		Dec. 1996		194,053	$	194	7.625%		6,003	$	200		Dec. 1, 2036		Not redeemable
Citigroup Capital IX		Feb. 2003		33,874,813		847	6.000%		1,047,675		873		Feb. 14, 2033		Feb. 13, 2008
Citigroup Capital X(2)		Sept. 2003		14,757,823		369	6.100%		456,428		380		Sept. 30, 2033		Sept. 30, 2008
Citigroup Capital XI		Sept. 2004		18,387,128		460	6.000%		568,675		474		Sept. 27, 2034		Sept. 27, 2009
Citigroup Capital XIII		Sept. 2010		89,840,000		2,246	7.875%		1,000		2,246		Oct. 30, 2040		Oct. 30, 2015
Citigroup Capital XVII		Mar. 2007		28,047,927		701	6.350%		20,000		702		Mar. 15, 2067		Mar. 15, 2012
Citigroup Capital XVIII		Jun. 2007		99,901		162	6.829%		50		162		June 28, 2067		June 28, 2017
Adam Capital Trust III		Dec. 2002		17,500		18	3 mo. LIB +335 bp.		542		18		Jan. 7, 2033		Jan. 7, 2008
Adam Statutory Trust III		Dec. 2002		25,000		25	3 mo. LIB +325 bp.		774		26		Dec. 26, 2032		Dec. 26, 2007
Adam Statutory Trust IV		Sept. 2003		40,000		40	3 mo. LIB +295 bp.		1,238		41		Sept. 17, 2033		Sept. 17, 2008
Adam Statutory Trust V		Mar. 2004		35,000		35	3 mo. LIB +279 bp.		1,083		36		Mar. 17, 2034		Mar. 17, 2009

Total obligated					$	5,097				$	5,158

(1): Represents the notional value received by investors from the trusts at the time of issuance.
(2): On August 29, 2013, Citi announced the redemption of Citigroup Capital X. The redemption closed on October 1, 2013.

In each case, the coupon rate on the subordinated debentures is the same as that on the trust preferred securities. Distributions on the trust preferred securities and interest on the subordinated debentures are payable quarterly, except for Citigroup Capital III and Citigroup Capital XVIII on which distributions are payable semiannually.