DEBT (Tables)
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12 Months Ended |
Dec. 31, 2016 |
Debt Disclosure [Abstract] |
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Schedule of short-term borrowings |
Short-Term Borrowings | | | | | | | | | | | |
| 2016 | 2015 | In millions of dollars | Balance | Weighted average coupon | Balance | Weighted average coupon | Commercial paper | $ | 9,989 |
| 0.79 | % | $ | 9,995 |
| 0.22 | % | Other borrowings(1) | 20,712 |
| 1.39 |
| 11,084 |
| 1.5 |
| Total | $ | 30,701 |
| | $ | 21,079 |
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| | (1) | Includes borrowings from the Federal Home Loan Banks and other market participants. At December 31, 2016, collateralized short-term advances from the Federal Home Loan Banks were $12.0 billion. At December 31, 2015, no amounts were outstanding. |
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Schedule of long-term debt |
Long-Term Debt | | | | | | | | | | |
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| Balances at December 31, | In millions of dollars | Weighted average coupon | Maturities | 2016 | 2015 | Citigroup Inc.(1) |
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| Senior debt | 4.00 | % | 2017-2098 | $ | 118,881 |
| $ | 113,569 |
| Subordinated debt(2) | 4.48 |
| 2017-2046 | 26,758 |
| 26,875 |
| Trust preferred securities | 6.90 |
| 2036-2067 | 1,694 |
| 1,713 |
| Bank(3) | | | | | Senior debt | 1.88 |
| 2017-2038 | 49,454 |
| 55,131 |
| Broker-dealer(4) | | | | | Senior debt | 2.08 |
| 2017-2047 | 9,387 |
| 3,968 |
| Subordinated debt(2) | 0.95 |
| 2033-2037 | 4 |
| 19 |
| Total | 3.49 | % | | $ | 206,178 |
| $ | 201,275 |
| Senior debt | | | $ | 177,722 |
| $ | 172,668 |
| Subordinated debt(2) | | | 26,762 |
| 26,894 |
| Trust preferred securities | | | 1,694 |
| 1,713 |
| Total | | | $ | 206,178 |
| $ | 201,275 |
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| | (1) | Parent holding company, Citigroup Inc. |
| | (2) | Includes notes that are subordinated within certain countries, regions or subsidiaries. |
| | (3) | Represents Citibank entities as well as other bank entities. At December 31, 2016 and December 31, 2015, collateralized long-term advances from the Federal Home Loan Banks were $21.6 billion and $17.8 billion, respectively. |
| | (4) | Represents broker-dealer subsidiaries that are consolidated into Citigroup Inc., the parent holding company. |
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Aggregate annual maturities of long-term debt obligations |
Aggregate annual maturities of long-term debt obligations (based on final maturity dates) including trust preferred securities are as follows: | | | | | | | | | | | | | | | | | | | | | | | In millions of dollars | 2017 |
| 2018 |
| 2019 |
| 2020 |
| 2021 |
| Thereafter |
| Total |
| Bank | $ | 15,046 |
| $ | 24,128 |
| $ | 4,865 |
| $ | 445 |
| $ | 3,903 |
| $ | 1,067 |
| $ | 49,454 |
| Broker-dealer | 2,637 |
| 1,388 |
| 283 |
| 1,103 |
| 168 |
| 3,812 |
| 9,391 |
| Citigroup Inc. | 18,442 |
| 20,573 |
| 16,865 |
| 8,627 |
| 15,060 |
| 67,766 |
| 147,333 |
| Total | $ | 36,125 |
| $ | 46,089 |
| $ | 22,013 |
| $ | 10,175 |
| $ | 19,131 |
| $ | 72,645 |
| $ | 206,178 |
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Summary of outstanding trust preferred securities |
The following table summarizes the Company’s outstanding trust preferred securities at December 31, 2016: | | | | | | | | | | | | | | | | | | | | | | | Junior subordinated debentures owned by trust | Trust | Issuance date | Securities issued | Liquidation value(1) | Coupon rate(2) | Common shares issued to parent | Amount | Maturity | Redeemable by issuer beginning | In millions of dollars, except share amounts |
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| Citigroup Capital III | Dec. 1996 | 194,053 |
| $ | 194 |
| 7.625 | % | 6,003 |
| $ | 200 |
| Dec. 1, 2036 | Not redeemable | Citigroup Capital XIII | Sept. 2010 | 89,840,000 |
| 2,246 |
| 3 mo LIBOR + 637 bps |
| 1,000 |
| 2,246 |
| Oct. 30, 2040 | Oct. 30, 2015 | Citigroup Capital XVIII | June 2007 | 99,901 |
| 123 |
| 6.829 |
| 50 |
| 124 |
| June 28, 2067 | June 28, 2017 | Total obligated | | |
| $ | 2,563 |
| | | $ | 2,570 |
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Note: Distributions on the trust preferred securities and interest on the subordinated debentures are payable semi-annually for Citigroup Capital III and Citigroup Capital XVIII and quarterly for Citigroup Capital XIII. | | (1) | Represents the notional value received by investors from the trusts at the time of issuance. |
| | (2) | In each case, the coupon rate on the subordinated debentures is the same as that on the trust preferred securities. |
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