XML 92 R52.htm IDEA: XBRL DOCUMENT v3.8.0.1
LOANS (Tables)
12 Months Ended
Dec. 31, 2017
Consumer  
Loans receivable  
Schedule of loans
The following table provides Citi’s consumer loans by loan type:
 
December 31,
In millions of dollars
2017
2016
In U.S. offices
 
 
Mortgage and real estate(1)
$
65,467

$
72,957

Installment, revolving credit and other
3,398

3,395

Cards
139,006

132,654

Commercial and industrial
7,840

7,159

 
$
215,711

$
216,165

In offices outside the U.S.
 
 
Mortgage and real estate(1)
$
44,081

$
42,803

Installment, revolving credit and other
26,556

24,887

Cards
26,257

23,783

Commercial and industrial
20,238

16,568

Lease financing
76

81

 
$
117,208

$
108,122

Total consumer loans
$
332,919

$
324,287

Net unearned income
$
737

$
776

Consumer loans, net of unearned income
$
333,656

$
325,063

(1)
Loans secured primarily by real estate.

Schedule of loan delinquency and non-accrual details
Consumer Loan Delinquency and Non-Accrual Details at December 31, 2017
In millions of dollars
Total
current(1)(2)
30–89 days
past due(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(5)
$
47,366

$
505

$
280

$
1,225

$
49,376

$
665

$
941

Home equity loans(6)(7)
14,268

207

352


14,827

750


Credit cards
136,588

1,528

1,613


139,729


1,596

Installment and other
3,395

45

16


3,456

22

1

Commercial market loans
9,395

51

65


9,511

213

15

Total
$
211,012

$
2,336

$
2,326

$
1,225

$
216,899

$
1,650

$
2,553

In offices outside North America
 
 
 
 
 
 
 
Residential first mortgages(5)
$
37,062

$
209

$
148

$

$
37,419

$
400

$

Credit cards
24,934

427

366


25,727

323

259

Installment and other
25,634

275

123


26,032

157


Commercial market loans
27,449

57

72


27,578

160


Total
$
115,079

$
968

$
709

$

$
116,756

$
1,040

$
259

Total GCB and Corporate/Other—consumer
$
326,091

$
3,304

$
3,035

$
1,225

$
333,655

$
2,690

$
2,812

Other(8)
1




1



Total Citigroup
$
326,092

$
3,304

$
3,035

$
1,225

$
333,656

$
2,690

$
2,812

(1)
Loans less than 30 days past due are presented as current.
(2)
Includes $25 million of residential first mortgages recorded at fair value.
(3)
Excludes loans guaranteed by U.S. government-sponsored entities.
(4)
Consists of residential first mortgages that are guaranteed by U.S. government-sponsored entities that are 30–89 days past due of $0.2 billion and 90 days or more past due of $1.0 billion.
(5)
Includes approximately $0.1 billion of residential first mortgage loans in process of foreclosure.
(6)
Includes approximately $0.1 billion of home equity loans in process of foreclosure.
(7)
Fixed-rate home equity loans and loans extended under home equity lines of credit, which are typically in junior lien positions.
(8)
Represents loans classified as consumer loans on the Consolidated Balance Sheet that are not included in GCB or Corporate/Other consumer credit metrics.
Consumer Loan Delinquency and Non-Accrual Details at December 31, 2016
In millions of dollars
Total
current(1)(2)
30–89 days
past due(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(5)
$
50,766

$
522

$
371

$
1,474

$
53,133

$
848

$
1,227

Home equity loans(6)(7)
18,767

249

438


19,454

914


Credit cards
130,327

1,465

1,509


133,301


1,509

Installment and other
4,486

106

38


4,630

70

2

Commercial market loans
8,876

23

74


8,973

328

14

Total
$
213,222

$
2,365

$
2,430

$
1,474

$
219,491

$
2,160

$
2,752

In offices outside North America
 
 
 
 
 
 
 
Residential first mortgages(5)
$
35,862

$
206

$
135

$

$
36,203

$
360

$

Credit cards
22,363

368

324


23,055

258

239

Installment and other
22,683

264

126


23,073

163


Commercial market loans
23,054

72

112


23,238

217


Total
$
103,962

$
910

$
697

$

$
105,569

$
998

$
239

Total GCB and Corporate/Other—consumer
$
317,184

$
3,275

$
3,127

$
1,474

$
325,060

$
3,158

$
2,991

Other(9)
3




3



Total Citigroup
$
317,187

$
3,275

$
3,127

$
1,474

$
325,063

$
3,158

$
2,991

(1)
Loans less than 30 days past due are presented as current.
(2)
Includes $29 million of residential first mortgages recorded at fair value.
(3)
Excludes loans guaranteed by U.S. government-sponsored entities.
(4)
Consists of residential first mortgages that are guaranteed by U.S. government-sponsored entities that are 30–89 days past due of $0.2 billion and 90 days or more past due of $1.3 billion.
(5)
Includes approximately $0.1 billion of residential first mortgage loans in process of foreclosure.
(6)
Includes approximately $0.1 billion of home equity loans in process of foreclosure.
(7)
Fixed-rate home equity loans and loans extended under home equity lines of credit, which are typically in junior lien positions.
(8)
Represents loans classified as consumer loans on the Consolidated Balance Sheet that are not included in the Corporate/Other consumer credit metrics.
Schedule of loans credit quality indicators
The following tables provide details on the LTV ratios for Citi’s U.S. consumer mortgage portfolios. LTV ratios are updated monthly using the most recent Core Logic Home Price Index data available for substantially all of the portfolio applied at the Metropolitan Statistical Area level, if available, or the state level if not. The remainder of the portfolio is updated in a similar manner using the Federal Housing Finance Agency indices.
LTV distribution in U.S. portfolio(1)(2)
December 31, 2017
In millions of dollars
Less than or
equal to 80%
> 80% but less
than or equal to
100%
Greater
than
100%
Residential first mortgages
$
43,626

$
2,578

$
247

Home equity loans
11,403

2,147

800

Total
$
55,029

$
4,725

$
1,047

LTV distribution in U.S. portfolio(1)(2)
December 31, 2016
In millions of dollars
Less than or
equal to 80%
> 80% but less
than or equal to
100%
Greater
than
100%
Residential first mortgages
$
45,849

$
3,467

$
324

Home equity loans
12,869

3,653

1,305

Total
$
58,718

$
7,120

$
1,629

(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.
The following tables provide details on the FICO scores for Citi’s U.S. consumer loan portfolio based on end-of-period receivables (commercial market loans are excluded from the table since they are business based and FICO scores are not a primary driver in their credit evaluation). FICO scores are updated monthly for substantially all of the portfolio or, otherwise, on a quarterly basis for the remaining portfolio.

FICO score distribution in U.S. portfolio(1)(2)
December 31, 2017
In millions of dollars
Less than
620
≥ 620 but less
than 660
Equal to or
greater
than 660
Residential first mortgages
$
2,100

$
1,932

$
42,265

Home equity loans
1,379

1,081

11,976

Credit cards
9,079

11,651

115,577

Installment and other
276

250

2,485

Total
$
12,834

$
14,914

$
172,303


FICO score distribution in U.S. portfolio(1)(2)
December 31, 2016

In millions of dollars
Less than
620
≥ 620 but less
than 660
Equal to or
greater
than 660
Residential first mortgages
$
2,744

$
2,422

$
44,279

Home equity loans
1,750

1,418

14,743

Credit cards
8,310

11,320

110,522

Installment and other
284

271

2,601

Total
$
13,088

$
15,431

$
172,145

(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.
Schedule of impaired loans
The following tables present information about impaired consumer loans and interest income recognized on impaired consumer loans:



 
At and for the year ended December 31, 2017
In millions of dollars
Recorded
investment(1)(2)
Unpaid
principal balance
Related
specific allowance(3)
Average
carrying value(4)
Interest income
recognized(5)
Mortgage and real estate
 
 
 
 
 
Residential first mortgages
$
2,877

$
3,121

$
278

$
3,155

$
119

Home equity loans
1,151

1,590

216

1,181

28

Credit cards
1,787

1,819

614

1,803

150

Installment and other
 
 
 
 
 
Individual installment and other
431

460

175

415

25

Commercial market loans
334

541

51

429

20

Total
$
6,580

$
7,531

$
1,334

$
6,983

$
342

(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)
$607 million of residential first mortgages, $370 million of home equity loans and $10 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.


 
At and for the year ended December 31, 2016
In millions of dollars
Recorded
investment(1)(2)
Unpaid
principal balance
Related
specific allowance(3)
Average
carrying 
value(4)
Interest income
recognized
(5)(6)
Mortgage and real estate
 
 
 
 

Residential first mortgages
$
3,786

$
4,157

$
540

$
4,632

$
170

Home equity loans
1,298

1,824

189

1,326

35

Credit cards
1,747

1,781

566

1,831

158

Installment and other
 
 
 
 
 
Individual installment and other
455

481

215

475

27

Commercial market loans
513

744

98

538

12

Total
$
7,799

$
8,987

$
1,608

$
8,802

$
402

(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)
$740 million of residential first mortgages, $406 million of home equity loans and $97 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) Interest income recognized for the year ended December 31, 2015 was $728 million.
Schedule of troubled debt restructurings
 
At and for the year ended December 31, 2017
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
4,063

$
580

$
6

$

$
2

1
%
Home equity loans
2,807

247

16


1

1

Credit cards
230,042

880




17

Installment and other revolving
1,088

8




5

Commercial banking(6)
112

117





Total(8)
238,112

$
1,832

$
22

$

$
3

 
International
 
 
 
 
 
 
Residential first mortgages
4,477

$
123

$

$

$

%
Credit cards
115,941

399



7

11

Installment and other revolving
44,880

254



11

9

Commercial banking(6)
370

50





Total(8)
165,668

$
826

$

$

$
18

 


 
At and for the year ended December 31, 2016
In millions of dollars except number of loans modified
Number of
loans modified
Post-
modification
recorded
investment(1)(7)
Deferred
principal(3)
Contingent
principal
forgiveness(4)
Principal
forgiveness(5)
Average
interest rate
reduction
North America
 
 
 
 
 
 
Residential first mortgages
5,023

$
726

$
6

$

$
3

1
%
Home equity loans
4,100

200

6


1

2

Credit cards
196,004

762




17

Installment and other revolving
5,649

47




14

Commercial banking(6)
132

91





Total(8)
210,908

$
1,826

$
12

$

$
4

 
International
 
 
 
 
 
 
Residential first mortgages
2,722

$
80

$

$

$

%
Credit cards
137,466

385



9

12

Installment and other revolving
60,094

276



7

7

Commercial banking(6)
162

109





Total(8)
200,444

$
850

$

$

$
16

 


(1)
Post-modification balances include past due amounts that are capitalized at the modification date.
(2)
Post-modification balances in North America include $53 million of residential first mortgages and $21 million of home equity loans to borrowers who have gone through Chapter 7 bankruptcy in the year ended December 31, 2017. These amounts include $36 million of residential first mortgages and $18 million of home equity loans that were newly classified as TDRs during 2017, based on previously received OCC guidance.
(3)
Represents portion of contractual loan principal that is non-interest bearing, but still due from the 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 was forgiven at the time of permanent modification.
(6) Commercial banking loans are generally borrower-specific modifications and incorporate changes in the amount and/or timing of principal and/or interest.
(7) Post-modification balances in North America include $74 million of residential first mortgages and $22 million of home equity loans to borrowers who have gone through Chapter 7 bankruptcy in the year ended December 31, 2016. These amounts include $48 million of residential first mortgages and $20 million of home equity loans that were newly classified as TDRs during 2016, based on previously received OCC guidance.
(8) The above tables reflect activity for loans outstanding as of the end of the reporting period that were considered TDRs.
Schedule of troubled debt restructuring loans that defaulted


The following table presents consumer TDRs that defaulted, for which the payment default occurred within one year of a permanent modification. Default is defined as 60 days past due, except for classifiably managed commercial banking loans, where default is defined as 90 days past due.
In millions of dollars
2017
2016
North America
 
 
Residential first mortgages
$
253

$
229

Home equity loans
46

25

Credit cards
221

188

Installment and other revolving
2

9

Commercial banking
2

15

Total
$
524

$
466

International
 
 
Residential first mortgages
$
11

$
11

Credit cards
185

148

Installment and other revolving
96

90

Commercial banking
1

37

Total
$
293

$
286

Corporate  
Loans receivable  
Schedule of loans
The following table presents information by corporate loan type:
In millions of dollars
December 31,
2017
December 31,
2016
In U.S. offices
 
 
Commercial and industrial
$
51,319

$
49,586

Financial institutions
39,128

35,517

Mortgage and real estate(1)
44,683

38,691

Installment, revolving credit and other
33,181

34,501

Lease financing
1,470

1,518

 
$
169,781

$
159,813

In offices outside the U.S.
 
 
Commercial and industrial
$
93,750

$
81,882

Financial institutions
35,273

26,886

Mortgage and real estate(1)
7,309

5,363

Installment, revolving credit and other
22,638

19,965

Lease financing
190

251

Governments and official institutions
5,200

5,850

 
$
164,360

$
140,197

Total corporate loans
$
334,141

$
300,010

Net unearned income
$
(763
)
$
(704
)
Corporate loans, net of unearned income
$
333,378

$
299,306

(1)
Loans secured primarily by real estate.
Schedule of loan delinquency and non-accrual details
Corporate Loan Delinquency and Non-Accrual Details at December 31, 2017
In millions of dollars
30–89 days
past due
and accruing(1)
≥ 90 days
past due and
accruing(1)
Total past due
and accruing
Total
non-accrual(2)
Total
current(3)
Total
loans (4)
Commercial and industrial
$
249

$
13

$
262

$
1,506

$
139,554

$
141,322

Financial institutions
93

15

108

92

73,557

73,757

Mortgage and real estate
147

59

206

195

51,563

51,964

Leases
68

8

76

46

1,533

1,655

Other
70

13

83

103

60,145

60,331

Loans at fair value










4,349

Total
$
627

$
108

$
735

$
1,942

$
326,352

$
333,378


Corporate Loan Delinquency and Non-Accrual Details at December 31, 2016
In millions of dollars
30–89 days
past due
and accruing(1)
≥ 90 days
past due and
accruing(1)
Total past due
and accruing
Total
non-accrual(2)
Total
current(3)
Total
loans (4)
Commercial and industrial
$
143

$
52

$
195

$
1,909

$
127,012

$
129,116

Financial institutions
119

2

121

185

61,254

61,560

Mortgage and real estate
148

137

285

139

43,607

44,031

Leases
27

8

35

56

1,678

1,769

Other
349

12

361

132

58,880

59,373

Loans at fair value










3,457

Total
$
786

$
211

$
997

$
2,421

$
292,431

$
299,306

(1)
Corporate loans that are 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)
Non-accrual loans generally include those loans that are ≥ 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)
Loans less than 30 days past due are presented as current.
(4)
Total loans include loans at fair value, which are not included in the various delinquency columns.
Schedule of loans credit quality indicators
Corporate Loans Credit Quality Indicators
 
Recorded investment in loans(1)
In millions of dollars
December 31, 2017
December 31,
2016
Investment grade(2)
 
 
Commercial and industrial
$
101,313

$
87,201

Financial institutions
60,404

50,597

Mortgage and real estate
23,213

18,718

Leases
1,090

1,303

Other
56,306

52,828

Total investment grade
$
242,326

$
210,647

Non-investment grade(2)
 
 
Accrual
 
 
Commercial and industrial
$
38,503

$
39,874

Financial institutions
13,261

10,873

Mortgage and real estate
2,881

1,821

Leases
518

410

Other
3,924

6,450

Non-accrual
 
 
Commercial and industrial
1,506

1,909

Financial institutions
92

185

Mortgage and real estate
195

139

Leases
46

56

Other
103

132

Total non-investment grade
$
61,029

$
61,849

Private bank loans managed on a delinquency basis(2)
$
25,674

$
23,353

Loans at fair value
4,349

3,457

Corporate loans, net of unearned income
$
333,378

$
299,306

(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 are accounted for on an amortized cost basis.
Schedule of impaired loans
The following tables present non-accrual loan information by corporate loan type and interest income recognized on non-accrual corporate loans:
Non-Accrual Corporate Loans
 
At and for the year ended December 31, 2017
In millions of dollars
Recorded
investment(1)
Unpaid
principal balance
Related specific
allowance
Average
carrying value(2)
Interest income recognized(3)
Non-accrual corporate loans
 
 
 
 
 
Commercial and industrial
$
1,506

$
1,775

$
368

$
1,547

$
23

Financial institutions
92

102

41

212

1

Mortgage and real estate
195

324

11

183

10

Lease financing
46

46

4

59


Other
103

212

2

108

1

Total non-accrual corporate loans
$
1,942

$
2,459

$
426

$
2,109

$
35

 
At and for the year ended December 31, 2016
In millions of dollars
Recorded
investment(1)
Unpaid
principal balance
Related specific
allowance
Average
carrying value(2)
Interest income recognized(3)
Non-accrual corporate loans
 
 
 
 
 
Commercial and industrial
$
1,909

$
2,259

$
362

$
1,919

$
25

Financial institutions
185

192

16

183

3

Mortgage and real estate
139

250

10

174

6

Lease financing
56

56

4

44


Other
132

197


87

6

Total non-accrual corporate loans
$
2,421

$
2,954

$
392

$
2,407

$
40


 
December 31, 2017
December 31, 2016
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
$
1,017

$
368

$
1,343

$
362

Financial institutions
88

41

45

16

Mortgage and real estate
51

11

41

10

Lease financing
46

4

55

4

Other
13

2

1


Total non-accrual corporate loans with specific allowance
$
1,215

$
426

$
1,485

$
392

Non-accrual corporate loans without specific allowance
 
 
 
 
Commercial and industrial
$
489

 

$
566

 

Financial institutions
4

 

140

 

Mortgage and real estate
144

 

98

 

Lease financing

 

1

 

Other
90

 

131

 

Total non-accrual corporate loans without specific allowance
$
727

N/A

$
936

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)
Interest income recognized for the year ended December 31, 2015 was $11 million.
N/A Not applicable
Schedule of troubled debt restructurings
Corporate Troubled Debt Restructurings

The following table presents corporate TDR activity at and for the year ended December 31, 2017:
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
Commercial and industrial
$
509

$
131

$
7

$
371

Financial institutions
15



15

Mortgage and real estate
36



36

Total
$
560

$
131

$
7

$
422



The following table presents corporate TDR activity at and for the year ended December 31, 2016:
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
Commercial and industrial
$
338

$
176

$
34

$
128

Financial institutions
10

10



Mortgage and real estate
15

6


9

Other
142


142


Total
$
505

$
192

$
176

$
137

(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. Because forgiveness of principal is rare for corporate loans, modifications typically have little to no impact on the loans’ projected cash flows and thus little to no impact on the allowance established for the loans.  Charge-offs for amounts deemed uncollectable may be recorded at the time of the restructuring or may have already been recorded in prior periods such that no charge-off is required at the time of the modification.
(2)
TDRs involving changes in the amount or timing of interest payments may involve a below-market interest rate.

Schedule of troubled debt restructuring loans that defaulted



The following table presents total corporate loans modified in a TDR as well as those TDRs that defaulted and for which the payment default occurred within one year of a permanent modification. Default is defined as 60 days past due, except for classifiably managed commercial banking loans, where default is defined as 90 days past due.
In millions of dollars
TDR balances at December 31, 2017
TDR loans in payment default during the year ended December 31, 2017
TDR balances at
December 31, 2016
TDR loans in payment default during the year ended December 31, 2016
Commercial and industrial
$
617

$
72

$
408

$
7

Financial institutions
48


9


Mortgage and real estate
101


87

8

Lease financing
7




Other
45


228


Total(1)
$
818

$
72

$
732

$
15



(1)
The above tables reflect activity for loans outstanding as of the end of the reporting period that were considered TDRs.