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LOANS (Tables)
 6 Months Ended
Jun. 30, 2023
Corporate  
Financing Receivable, Credit Quality Indicator [Line Items]  
Schedule of loan delinquency and non-accrual details
Corporate Loan Delinquencies and Non-Accrual Details at June 30, 2023

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$500 $197 $697 $856 $151,038 $152,591 
Financial institutions10 11 21 93 57,480 57,594 
Mortgage and real estate6 24 30 291 23,180 23,501 
Lease financing— — — — 273 273 
Other56 35 91 21 46,421 46,533 
Loans at fair value5,529 
Total$572 $267 $839 $1,261 $278,392 $286,021 

Corporate Loan Delinquencies and Non-Accrual Details at December 31, 2022

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$763 $594 $1,357 $860 $145,586 $147,803 
Financial institutions233 102 335 152 64,420 64,907 
Mortgage and real estate30 12 42 33 21,874 21,949 
Lease financing— 1 1 10 343 354 
Other145 18 163 67 48,788 49,018 
Loans at fair value5,123 
Total$1,171 $727 $1,898 $1,122 $281,011 $289,154 

(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 or more past due or those loans for which Citi believes, based on actual experience and a forward-looking assessment of the collectibility of the loan in full, that the payment of interest and/or principal is doubtful.
(3)Loans less than 30 days past due are presented as current.
(4)The Total loans column includes loans at fair value, which are not included in the various delinquency columns, and therefore the tables’ total rows will not cross-foot.
Schedule of loans credit quality indicators
Corporate Loans Credit Quality Indicators

 
Recorded investment in loans(1)
Term loans by year of origination
Revolving line
of credit arrangements(2)
June 30, 2023
In millions of dollars20232022202120202019Prior
Investment grade(3)
 
Commercial and industrial(4)
$40,041 $8,089 $5,285 $2,809 $3,151 $8,415 $37,929 $105,719 
Financial institutions(4)
6,390 4,490 3,816 572 708 2,087 30,865 48,928 
Mortgage and real estate1,731 4,803 3,752 3,639 1,791 2,259 131 18,106 
Other(5)
2,174 6,621 1,335 958 734 4,797 26,251 42,870 
Total investment grade$50,336 $24,003 $14,188 $7,978 $6,384 $17,558 $95,176 $215,623 
Non-investment grade(3)
 
Accrual 
Commercial and industrial(4)
$14,071 $6,408 $2,351 $1,666 $907 $3,657 $16,956 $46,016 
Financial institutions(4)
3,421 1,552 892 23 437 176 2,072 8,573 
Mortgage and real estate608 544 782 510 725 1,419 516 5,104 
Other(5)
559 756 478 372 497 108 1,145 3,915 
Non-accrual
Commercial and industrial(4)
5 81 59 9 52 159 491 856 
Financial institutions— 3 35 — 8 — 47 93 
Mortgage and real estate3 — 38 8 103 86 53 291 
Other(5)
1 4 1 — — 11 4 21 
Total non-investment grade$18,668 $9,348 $4,636 $2,588 $2,729 $5,616 $21,284 $64,869 
Loans at fair value(6)
$5,529 
Corporate loans, net of unearned income$69,004 $33,351 $18,824 $10,566 $9,113 $23,174 $116,460 $286,021 
 
Recorded investment in loans(1)
Term loans by year of origination(7)
Revolving line
of credit arrangements(2)
December 31, 2022
In millions of dollars20222021202020192018Prior
Investment grade(3)
 
Commercial and industrial(4)
$40,639 $6,124 $3,620 $3,458 $2,617 $7,048 $38,358 $101,864 
Financial institutions(4)
11,850 3,877 835 922 333 1,327 37,462 56,606 
Mortgage and real estate4,436 3,236 4,010 2,619 1,127 1,706 152 17,286 
Other(5)
7,649 2,687 1,439 643 2,119 3,832 26,805 45,174 
Total investment grade$64,574 $15,924 $9,904 $7,642 $6,196 $13,913 $102,777 $220,930 
Non-investment grade(3)
 
Accrual 
Commercial and industrial(4)
$17,278 $3,139 $1,973 $1,331 $965 $3,546 $16,848 $45,080 
Financial institutions(4)
4,708 630 197 254 47 240 2,073 8,149 
Mortgage and real estate582 835 429 729 783 801 472 4,631 
Other(5)
1,244 559 391 413 1 219 1,292 4,119 
Non-accrual
Commercial and industrial(4)
1 12 99 115 49 105 479 860 
Financial institutions41 34 — — — — 77 152 
Mortgage and real estate10 4 — — — 19 — 33 
Other(5)
6 — 26 8 10 11 16 77 
Total non-investment grade$23,870 $5,213 $3,115 $2,850 $1,855 $4,941 $21,257 $63,101 
Loans at fair value(6)
$5,123 
Corporate loans, net of unearned income$88,444 $21,137 $13,019 $10,492 $8,051 $18,854 $124,034 $289,154 

(1)Recorded investment in a loan includes net deferred loan fees and costs, unamortized premium or discount, less any direct write-downs.
(2)There were no significant revolving line of credit arrangements that converted to term loans during the quarter.
(3)Held-for-investment loans are accounted for on an amortized cost basis.
(4)Includes certain short-term loans with less than one year in tenor.
(5)Other includes installment and other, lease financing and loans to government and official institutions.
(6)Loans at fair value include loans to commercial and industrial, financial institutions, mortgage and real estate and other.
(7)In the first quarter of 2023, Citi identified that at December 31, 2022 certain loans originated prior to 2022 were disclosed as originating in 2022. The table above has been revised to reflect the correct origination year. Citi evaluated the effect of the revision, both qualitatively and quantitatively, and concluded that the impact of the revision was not material. The impact of the revision increased (decreased) the year of origination amounts as follows: $(24.9) billion, $2.0 billion, $3.2 billion, $4.6 billion, $4.1 billion and $11.0 billion for 2022, 2021, 2020, 2019, 2018 and prior, respectively.
The table below details gross credit losses recognized during the six months ended June 30, 2023, by year of loan origination:

 For the Six Months Ended June 30, 2023
In millions of dollars20232022202120202019Prior Revolving line of credit arrangementTotal
Commercial and industrial$8 $— $— $1 $— $2 $48 $59 
Financial institutions— — — — — — 33 33 
Mortgage and real estate— — — 1 — 2 — 3 
Other(1)
— — — — — — 30 30 
Total$8 $— $— $2 $— $4 $111 $125 

(1)    Other includes installment and other, lease financing and loans to government and official institutions.
Schedule of impaired loans
Non-Accrual Corporate Loans

 June 30, 2023December 31, 2022
In millions of dollars
Recorded
investment(1)(2)
Related specific
allowance
Recorded
investment(1)(2)
Related specific
allowance
Non-accrual corporate loans with specific allowances    
Commercial and industrial$528 $221 $583 $268 
Financial institutions87 48 149 51 
Mortgage and real estate153 25 33 4 
Other1 1 — — 
Total non-accrual corporate loans with specific allowances$769 $295 $765 $323 
Non-accrual corporate loans without specific allowances  
Commercial and industrial$328 N/A$277 N/A
Financial institutions6 N/A3 N/A
Mortgage and real estate138 N/A— N/A
Lease financing— N/A10 N/A
Other20 N/A67 N/A
Total non-accrual corporate loans without specific allowances$492 N/A$357 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)Interest income recognized for the three and six months ended June 30, 2023 was $13 million and $24 million, respectively, and for the three and six months ended June 30, 2022 was $11 million and $23 million, respectively.
N/A Not applicable
Schedule of modifications and troubled debt restructurings The following table details corporate loan modifications granted during the three and six months ended June 30, 2023 to borrowers experiencing financial difficulty by type of modification granted and the financial effect of those modifications. Citi defines a corporate loan modification to a borrower experiencing financial difficulty as a modification of a loan classified as substandard or worse at the time of modification.
For the Three and Six Months Ended June 30, 2023
In millions of dollars, except for weighted average term extension
Total modifications balance at June 30,
2023(1)(2)(3)
Term
extension
Combination:
Term extension and payment delay(5)
Weighted average term extension
(months)
Three Months Ended June 30, 2023
Commercial and industrial$66 $65 $1 22
Financial institutions— — — — 
Mortgage and real estate47 46 1 24
Other(4)
— — — — 
Total$113 $111 $2 
Six Months Ended June 30, 2023
Commercial and industrial$121 $95 $26 21
Financial institutions— — — — 
Mortgage and real estate49 48 1 23
Other(4)
— — — — 
Total $170 $143 $27 

(1)The above table reflects activity for loans outstanding as of the end of the reporting period. The balances are not significant as a percentage of the total carrying values of loans by class of receivable as of June 30, 2023.
(2)Commitments to lend to borrowers experiencing financial difficulty that were granted modifications totaled $492 million as of June 30, 2023.
(3)The allowance for corporate loans, including modified loans, is based on the borrower’s overall financial performance. Charge-offs for amounts deemed uncollectible may be recorded at the time of the modification or may have already been recorded in prior periods such that no charge-off is required at the time of modification.
(4)Other includes installment and other, lease financing and loans to government and official institutions.
(5)Payment delays either for principal or interest payments had an immaterial financial impact.

The following table presents the Company’s three and six months ended June 30, 2022 corporate troubled debt restructurings (TDRs), under previous GAAP, prior to the Company’s adoption of ASU No. 2022-02 on January 1, 2023:

For the Three and Six Months Ended June 30, 2022
In millions of dollarsCarrying value of TDRs modified during the period
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
Three Months Ended June 30, 2022
Commercial and industrial$3 $— $— $3 
Other(3)
23 — — 23 
Total$26 $— $— $26 
Six Months Ended June 30, 2022
Commercial and industrial$15 $— $— $15 
Other(3)
23 1 — 22 
Total$38 $1 $— $37 

(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 uncollectible 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.
(3)    Other includes installment and other, lease financing and loans to government and official institutions.
The following table presents the delinquencies of modified corporate loans to borrowers experiencing financial difficulty. It includes loans that were modified during the six months ended June 30, 2023:

 
As of June 30, 2023(1)
In millions of dollarsTotal Current
30–89 days
past due
90+ days
past due
Commercial and industrial$121 $121 $— $— 
Financial institutions— — — — 
Mortgage and real estate49 49 — — 
Other(2)
— — — — 
Total$170 $170 $— $— 

(1)Corporate loans are generally not modified as a result of their delinquency status; rather, they are modified because of events that have impacted the overall financial performance of the borrower. Corporate loans, if past due, are re-aged to current status upon modification.
(2)Other includes installment and other, lease financing and loans to government and official institutions.
The following table presents the Company’s three and six months ended June 30, 2022 corporate TDRs, under previous GAAP, prior to the Company’s adoption of ASU No. 2022-02 on January 1, 2023, that defaulted for which the payment default occurred within one year of a permanent modification. Default is defined as 60 days past due:

TDR loans that re-defaulted within one year of modification during the
In millions of dollarsTDR balances at June 30, 2022Three Months Ended
June 30, 2022		Six Months Ended
June 30, 2022
Commercial and industrial$148 $— $— 
Mortgage and real estate16 — — 
Other(1)
39 — — 
Total(2)
$203 $— $— 

(1)    Other includes installment and other, lease financing and loans to government and official institutions.
(2)    The above table reflects activity for loans outstanding that were considered TDRs as of the end of the reporting period.
Schedule of corporate loans by type The following table presents information by corporate loan type:
In millions of dollarsJune 30,
2023		December 31,
2022
In North America offices(1)
  
Commercial and industrial$59,790 $56,176 
Financial institutions36,268 43,399 
Mortgage and real estate(2)
17,495 17,829 
Installment and other22,153 23,767 
Lease financing224 308 
Total$135,930 $141,479 
In offices outside North America(1)
  
Commercial and industrial$95,836 $93,967 
Financial institutions21,701 21,931 
Mortgage and real estate(2)
6,076 4,179 
Installment and other23,395 23,347 
Lease financing49 46 
Governments and official institutions3,034 4,205 
Total$150,091 $147,675 
Corporate loans, net of unearned income(3)(4)(5)
$286,021 $289,154 

(1)North America includes the U.S., Canada and Puerto Rico. Mexico is included in offices outside North America. The classification between offices in North America and outside North America is based on the domicile of the booking unit. The difference between the domicile of the booking unit and the domicile of the managing unit is not material.
(2)Loans secured primarily by real estate.
(3)Corporate loans are net of unearned income of ($795) million and ($797) million at June 30, 2023 and December 31, 2022, respectively. Unearned income on corporate loans primarily represents interest received in advance, but not yet earned, on loans originated on a discounted basis.
(4)Not included in the balances above is approximately $2 billion of accrued interest receivable at June 30, 2023 and December 31, 2022, which is included in Other assets on the Consolidated Balance Sheet.
(5)Accrued interest receivable considered to be uncollectible is reversed through interest income. Amounts reversed were not material for the three months ended June 30, 2023 and 2022.
Consumer  
Financing Receivable, Credit Quality Indicator [Line Items]  
Schedule of loan delinquency and non-accrual details
Consumer Loans, Delinquencies and Non-Accrual Status at June 30, 2023

In millions of dollars
Total
current(1)(2)
30–89 
days past
 due(3)(4)
≥ 90 days
past
 due(3)(4)
Past due
government
guaranteed(5)
Total loansNon-accrual loans for which there is no ACLLNon-accrual loans for which there is an ACLLTotal
non-accrual		90 days 
past due
and accruing
In North America offices(6)
        
Residential first mortgages(7)
$101,780 $371 $285 $244 $102,680 $101 $380 $481 $139 
Home equity loans(8)(9)
3,869 35 96 — 4,000 46 139 185 — 
Credit cards149,487 1,741 1,723 — 152,951 — — — 1,723 
Personal, small business and other(10)
37,038 89 29 5 37,161 4 34 38 7 
Total$292,174 $2,236 $2,133 $249 $296,792 $151 $553 $704 $1,869 
In offices outside North America(6)
      
Residential mortgages(7)
$26,950 $48 $92 $— $27,090 $— $328 $328 $18 
Credit cards13,344 180 190 — 13,714 — 172 172 60 
Personal, small business and other(10)
36,848 108 39 — 36,995 — 117 117 — 
Total$77,142 $336 $321 $— $77,799 $— $617 $617 $78 
Total Citigroup(11)(12)
$369,316 $2,572 $2,454 $249 $374,591 $151 $1,170 $1,321 $1,947 

Consumer Loans, Delinquencies and Non-Accrual Status at December 31, 2022

In millions of dollars
Total
current(1)(2)
30–89 
days past
due(3)(4)
≥ 90 days
past
 due(3)(4)
Past due
government
guaranteed(5)
Total
loans		Non-accrual loans for which there is no ACLLNon-accrual loans for which there is an ACLLTotal
non-accrual		90 days 
past due
and accruing
In North America offices(6)
       
Residential first mortgages(7)
$95,023 $421 $316 $279 $96,039 $86 $434 $520 $163 
Home equity loans(8)(9)
4,407 38 135 — 4,580 51 151 202 — 
Credit cards147,717 1,511 1,415 — 150,643 — — — 1,415 
Personal, small business and other(10)
37,635 88 22 7 37,752 3 23 26 11 
Total$284,782 $2,058 $1,888 $286 $289,014 $140 $608 $748 $1,589 
In offices outside North America(6)
       
Residential mortgages(7)
$27,946 $62 $106 $— $28,114 $— $305 $305 $13 
Credit cards12,659 147 149 — 12,955 — 127 127 56 
Personal, small business and other(10)
37,869 105 10 — 37,984 — 137 137 — 
Total$78,474 $314 $265 $— $79,053 $— $569 $569 $69 
Total Citigroup(11)(12)
$363,256 $2,372 $2,153 $286 $368,067 $140 $1,177 $1,317 $1,658 

(1)Loans less than 30 days past due are presented as current.
(2)Includes $237 million and $237 million at June 30, 2023 and December 31, 2022, respectively, of residential first mortgages recorded at fair value.
(3)Excludes loans guaranteed by U.S. government-sponsored agencies. Excludes delinquencies on $30.6 billion and $17.9 billion of classifiably managed Private bank loans in North America and outside North America, respectively, at June 30, 2023. Excludes delinquencies on $31.5 billion and $17.8 billion of classifiably managed Private bank loans in North America and outside North America, respectively, at December 31, 2022.
(4)Loans modified under Citi’s COVID-19 consumer relief programs continue to be reported in the same delinquency bucket they were in at the time of modification. Most modified loans in North America would not be reported as 30–89 or 90+ days past due for the duration of the programs (which have various durations, and certain of which may be renewed).
(5)Consists of loans that are guaranteed by U.S. government-sponsored agencies that are 30–89 days past due of $0.1 billion and $0.1 billion and 90 days or more past due of $0.1 billion and $0.2 billion at June 30, 2023 and December 31, 2022, respectively.
(6)North America includes the U.S., Canada and Puerto Rico. Mexico is included in offices outside North America.
(7)Includes approximately $0.2 billion and $0.0 billion of residential first mortgage loans in process of foreclosure in North America and outside North America, respectively, and $20.4 billion of residential mortgages outside North America related to the Global Wealth business at June 30, 2023. Includes approximately $0.1 billion and $0.0 billion of residential first mortgage loans in process of foreclosure in North America and outside North America, respectively, and $19.8 billion of residential mortgages outside North America related to the Global Wealth business at December 31, 2022.
(8)Includes approximately $0.1 billion and $0.1 billion at June 30, 2023 and December 31, 2022, respectively, of home equity loans in process of foreclosure.
(9)Fixed-rate home equity loans and loans extended under home equity lines of credit, which are typically in junior lien positions.
(10)Includes loans related to the Global Wealth business: $33.1 billion in North America, approximately $30.6 billion of which are classifiably managed, and as of June 30, 2023 approximately 99% were rated investment grade; and $26.0 billion outside North America, approximately $17.9 billion of which are classifiably managed, and as of June 30, 2023 approximately 93% were rated investment grade. Includes loans related to the Global Wealth business: $34.0 billion in North America, approximately $31.5 billion of which are classifiably managed, and as of December 31, 2022 approximately 98% were rated investment grade; and $26.6 billion outside North America, approximately $17.8 billion of which are classifiably managed, and as of December 31, 2022 approximately 94% were rated investment grade. The classifiably managed portion of these loans is shown as “current” because the delinquency status is not applicable, since these loans are primarily evaluated for credit risk based on their internal risk classification.
(11)Consumer loans are net of unearned income of $769 million and $712 million at June 30, 2023 and December 31, 2022, respectively. Unearned income on consumer loans primarily represents unamortized origination fees and costs, premiums and discounts.
(12)Not included in the balances above are approximately $1 billion and $1 billion of accrued interest receivable at June 30, 2023 and December 31, 2022, respectively, which are included in Other assets on the Consolidated Balance Sheet, except for credit card loans (which include accrued interest and fees). When a loan becomes non-accrual or, if not subject to a non-accrual policy, is charged off per the Company’s charge-off policy, any accrued interest receivable is also reversed against the interest income. During the three and six months ended June 30, 2023, the Company reversed accrued interest of approximately $0.3 billion and $0.5 billion, respectively, primarily related to credit card loans. During the three and six months ended June 30, 2022, the Company reversed accrued interest of approximately $0.2 billion and $0.3 billion, respectively, primarily related to credit card loans.


Interest Income Recognized for Non-Accrual Consumer Loans

In millions of dollarsThree Months Ended June 30, 2023Three Months Ended June 30, 2022Six Months Ended June 30, 2023Six Months Ended June 30, 2022
In North America offices(1)
Residential first mortgages$3 $3 $6 $6 
Home equity loans1 1 3 2 
Credit cards— — — — 
Personal, small business and other1 1 1 1 
Total$5 $5 $10 $9 
In offices outside North America(1)
Residential mortgages$4 $— $5 $— 
Credit cards— — — — 
Personal, small business and other— — — — 
Total$4 $— $5 $— 
Total Citigroup$9 $5 $15 $9 

(1)North America includes the U.S., Canada and Puerto Rico. Mexico is included in offices outside North America.
Schedule of loans credit quality indicators The following tables provide details on the Fair Isaac Corporation (FICO) scores for Citi’s U.S. consumer loan portfolio based on end-of-period receivables by year of origination. FICO scores are updated monthly for substantially all of the portfolio or, otherwise, on a quarterly basis for the remaining portfolio. With respect to Citi’s consumer loan portfolio outside of the U.S. as of June 30, 2023 and December 31, 2022 ($79.3 billion and $80.5 billion, respectively), various country-specific or regional credit risk metrics and acquisition and behavior scoring models are leveraged as one of the factors to evaluate the credit quality of customers (for additional information on loans outside of the U.S., see “Consumer Loans and Ratios Outside of North America” below). As a result, details of relevant credit quality indicators for those loans are not comparable to the below FICO score distribution for the U.S. portfolio.
FICO score distribution—U.S. portfolio(1)(2)
June 30, 2023
In millions of dollarsLess than
680		680
to 760		Greater
than 760
Classifiably managed(3)
FICO not available(4)
Total
loans
Residential first mortgages
2023$151 $2,704 $5,671 
2022717 6,659 13,618 
2021602 5,747 12,540 
2020393 4,360 10,860 
2019312 2,345 5,350 
Prior2,185 7,099 13,907 
Total residential first mortgages$4,360 $28,914 $61,946 $— $7,460 $102,680 
Home equity loans (pre-reset)$490 $1,212 $1,736 
Home equity loans (post-reset)71 76 45 
Home equity term loans92 137 108 
2023— — — 
2022— — — 
2021— 1 1 
20201 2 2 
20191 1 1 
Prior90 133 104 
Total home equity loans$653 $1,425 $1,889 $— $33 $4,000 
Credit cards$29,111 $59,069 $60,712 
Revolving loans converted to term loans(5)
913 357 54 
Total credit cards(6)
$30,024 $59,426 $60,766 $— $2,136 $152,352 
Personal, small business and other
2023$10 $45 $105 
2022268 515 712 
202180 129 151 
202011 14 20 
201913 14 16 
Prior126 181 135 
Total personal, small business and other(7)(8)
$508 $898 $1,139 $30,596 $3,101 $36,242 
Total$35,545 $90,663 $125,740 $30,596 $12,730 $295,274 
FICO score distribution—U.S. portfolio(1)(2)
December 31, 2022
In millions of dollarsLess than
680		680
to 760		Greater
than 760
Classifiably managed(3)
FICO not available(4)
Total
loans
Residential first mortgages
2022$691 $7,530 $12,928 
20216395,93312,672
20204314,62110,936
20193212,5055,445
20183021,0721,899
Prior2,0206,55112,649
Total residential first mortgages$4,404 $28,212 $56,529 $6,894 $96,039 
Home equity line of credit (pre-reset)$552 $1,536 $1,876 
Home equity line of credit (post-reset)62 65 40 
Home equity term loans106 151 117 
2022— — — 
2021— 1 1 
20201 2 2 
20191 2 2 
20181 2 1 
Prior103 144 111 
Total home equity loans$720 $1,752 $2,033 $75 $4,580 
Credit cards$27,901 $58,213 $60,896 
Revolving loans converted to term loans(5)
766 354 54 
Total credit cards(6)
$28,667 $58,567 $60,950 $1,914 $150,098 
Personal, small business and other
2022$247 $546 $800 
202196 170 210 
202015 20 30 
201921 23 28 
201810 10 9 
Prior126 190 144 
Total personal, small business and other(7)(8)
$515 $959 $1,221 $31,478 $2,639 $36,812 
Total$34,306 $89,490 $120,733 $31,478 $11,522 $287,529 

(1)    The FICO bands in the tables are consistent with general industry peer presentations.
(2)    FICO scores are updated on either a monthly or quarterly basis. For updates that are made only quarterly, certain current-period loans by year of origination are greater than those disclosed in the prior periods. Loans that did not have FICO scores as of the prior period have been updated with FICO scores as they become available.
(3)    These personal, small business and other loans without a FICO score available include $30.6 billion and $31.5 billion of Private bank loans as of June 30, 2023 and December 31, 2022, respectively, which are classifiably managed within Global Wealth and are primarily evaluated for credit risk based on their internal risk ratings. As of June 30, 2023 and December 31, 2022, approximately 99% and 98% of these loans, respectively, were rated investment grade.
(4)    FICO scores not available related to loans guaranteed by government-sponsored enterprises for which FICO scores are generally not utilized.
(5)    Not included in the tables above are $63 million and $75 million of revolving credit card loans outside of the U.S. that were converted to term loans as of June 30, 2023 and December 31, 2022, respectively.
(6)    Excludes $599 million and $545 million of balances related to Canada for June 30, 2023 and December 31, 2022, respectively.
(7)    Excludes $919 million and $940 million of balances related to Canada for June 30, 2023 and December 31, 2022, respectively.
(8)    Includes approximately $49 million and $67 million of personal revolving loans that were converted to term loans for June 30, 2023 and December 31, 2022, respectively.
Consumer Gross Credit Losses
The following table provides details on gross credit losses recognized during the six months ended June 30, 2023, by year of loan origination:

In millions of dollarsSix Months Ended June 30, 2023
Residential first mortgages
2023$— 
20221 
2021— 
20201 
20193 
Prior20 
Total residential first mortgages$25 
Home equity line of credit (pre-reset)$2 
Home equity line of credit (post-reset)— 
Home equity term loans1 
Total home equity loans$3 
Credit cards$2,925 
Revolving loans converted to term loans87 
Total credit cards$3,012 
Personal, small business and other
2023$69 
202289 
202156 
202023 
201927 
Prior84 
Total personal, small business and other$348 
Total Citigroup$3,388 
The following tables provide details on the LTV ratios for Citi’s U.S. consumer mortgage portfolios by year of origination. 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—U.S. portfolio
June 30, 2023
In millions of dollarsLess than
 or equal
to 80%		> 80% but less
than or equal to 100%		Greater
than
100%
LTV not available(1)
Total
Residential first mortgages
2023$6,634 $1,975 $6 
202216,146 5,916 43 
202118,846 1,096 33 
202016,451 362 1 
20198,395 226 26 
Prior25,029 318 78 
Total residential first mortgages$91,501 $9,893 $187 $1,099 $102,680 
Home equity loans (pre-reset)$3,167 $28 $9 
Home equity loans (post-reset)491 8 13 
Total home equity loans$3,658 $36 $22 $284 $4,000 
Total$95,159 $9,929 $209 $1,383 $106,680 

LTV distribution—U.S. portfolio
December 31, 2022
In millions of dollarsLess than
 or equal
to 80%		> 80% but less
than or equal to 100%		Greater
than
100%
LTV not available(1)
Total
Residential first mortgages
2022$15,644 $6,497 $40 
202119,104 1,227 33 
202016,935 267 1 
20198,789 140 23 
20183,598 74 9 
Prior22,367 132 74 
Total residential first mortgages$86,437 $8,337 $180 $1,085 $96,039 
Home equity loans (pre-reset)$3,677 $36 $56 
Home equity loans (post-reset)627 12 27 
Total home equity loans$4,304 $48 $83 $145 $4,580 
Total$90,741 $8,385 $263 $1,230 $100,619 

(1)Residential first mortgages with no LTV information available includes government-guaranteed loans that do not require LTV information for credit risk assessment and fair value loans.
The following tables provide details on the LTV ratios for Citi’s consumer mortgage portfolio outside of the U.S. by year of origination:

LTV distribution—outside of U.S. portfolio(1)
June 30, 2023
In millions of dollarsLess than
 or equal
to 80%		> 80% but less
than or equal to 100%		Greater
than
100%		LTV not availableTotal
Residential mortgages
2023$1,847 $620 $— 
20223,356 1,102 33 
20213,713 1,069 44 
20202,845 385 — 
20192,775 63 1 
Prior8,942 44 8 
Total$23,478 $3,283 $86 $243 $27,090 

LTV distribution—outside of U.S. portfolio(1)
December 31, 2022
In millions of dollarsLess than
 or equal
to 80%		> 80% but less
than or equal to 100%		Greater
than
100%		LTV not availableTotal
Residential mortgages
2022$3,106 $975 $294 
20214,144 964 273 
20203,293 502 25 
20193,048 92 1 
20182,074 48 — 
Prior9,201 36 7 
Total$24,866 $2,617 $600 $31 $28,114 

(1)Mortgage portfolios outside of the U.S. are primarily in Global Wealth. As of June 30, 2023 and December 31, 2022, mortgage portfolios outside of the U.S. had an average LTV of approximately 52% and 51%, respectively.
Consumer Loans and Ratios Outside of North America

Delinquency-managed loans and ratios
In millions of dollars at June 30, 2023
Total
loans outside of North America(1)
Classifiably managed loans(2)
Delinquency-managed loans30–89 
days past
 due ratio
≥ 90 days
past
 due ratio
2Q23 NCL ratio2Q22 NCL ratio
Residential mortgages(3)
$27,090 $— $27,090 0.18 %0.34 %(0.01)%0.04 %
Credit cards13,714 — 13,714 1.31 1.39 3.98 3.08 
Personal, small business and other(4)
36,995 17,902 19,093 0.57 0.20 0.91 0.55 
Total$77,799 $17,902 $59,897 0.56 %0.54 %1.12 %0.72 %
Delinquency-managed loans and ratios
In millions of dollars at December 31, 2022
Total
loans outside
of North America(1)
Classifiably managed loans(2)
Delinquency-managed loans30–89 
days past
 due ratio
≥ 90 days
past
 due ratio
Residential mortgages(3)
$28,114 $— $28,114 0.22 %0.38 %
Credit cards12,955 — 12,955 1.13 1.15 
Personal, small business and other(4)
37,984 17,762 20,222 0.52 0.05 
Total$79,053 $17,762 $61,291 0.51 %0.43 %

(1)    Mexico is included in offices outside of North America.
(2)    Classifiably managed loans are primarily evaluated for credit risk based on their internal risk classification. As of June 30, 2023 and December 31, 2022, approximately 93% and 94% of these loans, respectively, were rated investment grade.
(3)    Includes $20.4 billion and $19.8 billion as of June 30, 2023 and December 31, 2022, respectively, of residential mortgages related to the Global Wealth business.
(4)    Includes $26.0 billion and $26.6 billion as of June 30, 2023 and December 31, 2022, respectively, of loans related to the Global Wealth business.
Schedule of modifications and troubled debt restructurings
The following tables provide details on permanent consumer loan modifications granted during the three and six months ended June 30, 2023 to borrowers experiencing financial difficulty by type of modification granted and the financial effect of those modifications:

 
For the Three Months Ended June 30, 2023
In millions of dollars, except weighted averagesModifications as % of loans
Total modifications balance at June 30, 2023(1)(2)(3)
Interest rate reductionTerm extensionPayment delayCombination: interest rate reduction and term extension
 Combination: term extension and payment delay(4)
Weighted average interest rate reduction %Weighted average term extension (months)Weighted average delay in payments (months)
In North America offices(5)
     
Residential first mortgages(6)
0.05 %$47 $1 $15 $29 $2 $— 1 %1916
Home equity loans0.23 9 — — 1 8 — 2 1196
Credit cards0.18 275 275 — — — — 22 — — 
Personal, small business and other0.01 4 — 1 — 3 — 6 13— 
Total0.11 %$335 $276 $16 $30 $13 $— 
In offices outside North America(5)
Residential mortgages1.03 %$278 $3 $— $— $— $275 — %11
Credit cards0.09 12 12 — — — — 18 — — 
Personal, small business and other0.02 7 1 2 — 4 — 9 20— 
Total0.38 %$297 $16 $2 $— $4 $275 

 
For the Six Months Ended June 30, 2023
In millions of dollars, except weighted averagesModifications as % of loans
Total modifications balance at June 30, 2023(1)(2)(3)
Interest rate reductionTerm extensionPayment delayCombination: interest rate reduction and term extension
 Combination: term extension and payment delay(4)
Weighted average interest rate reduction %Weighted average term extension (months)Weighted average delay in payments (months)
In North America offices(5)
     
Residential first mortgages(6)
0.10 %$100 $1 $30 $64 $5 $— 1 %1876
Home equity loans0.48 19 — — 6 13 — 2 1206
Credit cards0.33 499 499 — — — — 22 — — 
Personal, small business and other0.02 6 1 1 — 4 — 6 14— 
Total0.21 %$624 $501 $31 $70 $22 $— 
In offices outside North America(5)
Residential mortgages1.09 %$296 $5 $— $— $1 $290 — %22
Credit cards0.17 23 23 — — — — 18 — — 
Personal, small business and other0.04 16 3 4 — 9 — 8 21— 
Total0.43 %$335 $31 $4 $— $10 $290 

(1)    The above tables reflect activity for loans outstanding as of the end of the reporting period. During the three and six months ended June 30, 2023, Citi granted forgiveness of $16 million and $26 million, respectively, in credit card loans, and $1 million and $1 million, respectively, in personal, small business and other loans that had no outstanding balance at June 30, 2023.
(2)    Commitments to lend to borrowers experiencing financial difficulty that were granted modifications included in the tables above were immaterial at June 30, 2023.
(3)    For major consumer portfolios, the ACLL is based on macroeconomic-sensitive models that rely on historical performance and macroeconomic scenarios to forecast expected credit losses. Modifications of consumer loans impact expected credit losses by affecting the likelihood of default.
(4)    Residential mortgages in offices outside North America were granted four months of payment deferrals during the six months ended December 31, 2022.
(5)    North America includes the U.S., Canada and Puerto Rico. Mexico is included in offices outside North America.
(6)    Excludes residential first mortgages discharged in Chapter 7 bankruptcy in the three and six months ended June 30, 2023.
The following tables present the Company’s three and six months ended June 30, 2022 consumer TDRs, under previous GAAP, prior to the Company’s adoption of ASU No. 2022-02 on January 1, 2023:

Consumer Troubled Debt Restructurings(1)

 
For the Three Months Ended June 30, 2022
In millions of dollars, except number of loans modifiedNumber of
loans modified
Post-
modification
recorded
investment(2)(3)
Deferred
principal(4)
Contingent
principal
forgiveness(5)
Principal
forgiveness(6)
Average
interest rate
reduction
North America      
Residential first mortgages279 $56 $— $— $— — %
Home equity loans103 7 — — — — 
Credit cards36,820 157 — — — 18 
Personal, small business and other105 1 — — — 5 
Total(7)
37,307 $221 $— $— $— 
International
Residential mortgages110 $4 $— $— $— — %
Credit cards3,462 13 — — — 27 
Personal, small business and other595 7 — — — 8 
Total(7)
4,167 $24 $— $— $— 
 
For the Six Months Ended June 30, 2022
In millions of dollars, except number of loans modifiedNumber of
loans modified
Post-
modification
recorded
investment(2)(8)
Deferred
principal(4)
Contingent
principal
forgiveness(5)
Principal
forgiveness(6)
Average
interest rate
reduction
North America      
Residential first mortgages625 $137 $— $— $— — %
Home equity loans207 16 — — — — 
Credit cards77,560 330 — — — 17 
Personal, small business and other251 2 — — — 5 
Total(7)
78,643 $485 $— $— $— 
International
Residential first mortgages293 $10 $— $— $— — %
Credit cards8,462 35 — — 1 23 
Personal, small business and other1,267 16 — — — 8 
Total(7)
10,022 $61 $— $— $1 

(1)The above tables do not include loan modifications that meet the TDR relief criteria in the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) or the interagency guidance.
(2)Post-modification balances include past-due amounts that are capitalized at the modification date.
(3)Post-modification balances in North America include $0.4 million of residential first mortgages to borrowers who have gone through Chapter 7 bankruptcy in the three months ended June 30, 2022. These amounts include $0.4 million of residential first mortgages that were newly classified as TDRs in the three months ended June 30, 2022, based on previously received OCC guidance.
(4)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.
(5)Represents portion of contractual loan principal that is non-interest bearing and, depending upon borrower performance, eligible for forgiveness.
(6)Represents portion of contractual loan principal that was forgiven at the time of permanent modification.
(7)    The above tables reflect activity for restructured loans that were considered TDRs during the reporting period.
(8)    Post-modification balances in North America include $2 million of residential first mortgages to borrowers who have gone through Chapter 7 bankruptcy in the six months ended June 30, 2022. These amounts include $2 million of residential first mortgages that were newly classified as TDRs in the six months ended June 30, 2022, based on previously received OCC guidance.
Performance of Modified Consumer Loans
The following table presents the delinquencies and gross credit losses of permanently modified consumer loans to borrowers experiencing financial difficulty. It includes loans that were modified during the six months ended June 30, 2023:

As of June 30, 2023
In millions of dollarsTotal Current
30–89 days
past due
90+ days
past due		Gross
credit losses
In North America offices(1)
Residential first mortgages$100 $36 $20 $44 $— 
Home equity loans19 14 1 4 — 
Credit cards499 319 102 78 57 
Personal, small business and other6 6 — — — 
Total(2)(3)
$624 $375 $123 $126 $57 
In offices outside North America(1)
Residential mortgages$296 $295 $1 $— $— 
Credit cards23 20 2 1 — 
Personal, small business and other16 14 1 1 1 
Total(2)(3)
$335 $329 $4 $2 $1 

(1)    North America includes the U.S., Canada and Puerto Rico. Mexico is included in offices outside North America.
(2)    Typically, upon modification a loan re-ages to current. However, FFIEC guidelines for re-aging certain loans require that at least three consecutive minimum monthly payments, or the equivalent amount, be received. In these cases, the loan will remain delinquent until the payment criteria for re-aging have been satisfied.
(3)    Loans modified under Citi’s COVID-19 consumer relief programs continue to be reported in the same delinquency bucket they were in at the time of modification.

Defaults of Modified Consumer Loans
The following tables present default activity for permanently modified consumer loans to borrowers experiencing financial difficulty by type of modification granted, including loans that were modified and subsequently defaulted during the three and six months ended June 30, 2023. Default is defined as 60 days past due:

 
For the Three Months Ended June 30, 2023
In millions of dollars
Total(1)(2)
Interest rate reductionTerm
extension		Payment
delay		 Combination: interest rate reduction and term extension Combination: term extension and payment delayCombination: interest rate reduction, term extension and payment delay
In North America offices(3)
   
Residential first mortgages$1 $1 $— $— $— $— $— 
Home equity loans— — — — — — — 
Credit cards(4)
50 50 — — — — — 
Personal, small business and other— — — — — — — 
Total$51 $51 $— $— $— $— $— 
In offices outside North America(3)
Residential mortgages$— $— $— $— $— $— $— 
Credit cards(4)
1 1 — — — — — 
Personal, small business and other— — — — — — — 
Total$1 $1 $— $— $— $— $— 
 For the Six Months Ended June 30, 2023
In millions of dollars
Total(1)(2)
Interest rate reductionTerm
extension		Payment
delay		 Combination: interest rate reduction and term extension Combination: term extension and payment delayCombination: interest rate reduction, term extension and payment delay
In North America offices(3)
   
Residential first mortgages$1 $1 $— $— $— $— $— 
Home equity loans— — — — — — — 
Credit cards(4)
55 55 — — — — — 
Personal, small business and other— — — — — — — 
Total$56 $56 $— $— $— $— $— 
In offices outside North America(3)
Residential mortgages$— $— $— $— $— $— $— 
Credit cards(4)
1 1 — — — — — 
Personal, small business and other1 — — — 1 — — 
Total$2 $1 $— $— $1 $— $— 

(1)    The above table reflects activity for loans outstanding as of the end of the reporting period.
(2)    Modified residential first mortgages that default are typically liquidated through foreclosure or a similar type of liquidation.
(3)    North America includes the U.S., Canada and Puerto Rico. Mexico is included in offices outside North America.
(4)    Modified credit card loans that default continue to be charged off in accordance with Citi’s consumer charge-off policy.
The following table presents the Company’s three and six months ended June 30, 2022 consumer TDRs, under previous GAAP, prior to the Company’s adoption of ASU No. 2022-02 on January 1, 2023, that defaulted for which the payment default occurred within one year of a permanent modification. Default is defined as 60 days past due:
Three Months Ended June 30,Six Months Ended June 30,
In millions of dollars20222022
North America
Residential first mortgages$13 $17 
Home equity loans2 2 
Credit cards59 116 
Personal, small business and other— — 
Total$74 $135 
International
Residential mortgages$3 $7 
Credit cards3 7 
Personal, small business and other1 2 
Total$7 $16