Citigroup Inc.

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The following table presents non-accrual loan information by Corporate loan type at and for the period ended December 31, 2010 and 2009, respectively:Non-Accrual Corporate LoansIn millions of dollarsRecordedinvestment (1)PrincipalbalanceAt and for the period ended Dec. 31, 2010 Dec. 31, 2009RelatedspecificallowanceAveragecarryingvalue (2)InterestincomerecognizedRecordedinvestment (1)Non-accrual Corporate loansCommercial and industrial $ 5,125 $ 8,021 $ 843 $ 6,016 $28 $ 6,347Loans to financial institutions 1,258 1,835 259 883 1 1,794Mortgage and real estate 1,782 2,328 369 2,474 7 4,051Lease financing 45 71 — 55 4 —Other 400 948 218 1,205 25 1,287Total non-accrual Corporate loans $ 8,610 $ 13,203 $ 1,689 $10,633 $65 $13,479At and for the period endedIn millions of dollarsDec. 31,2009Dec. 31,2008Average carrying value (2) $12,990 $4,157Interest income recognized 21 49In millions of dollarsRecordedinvestment (1)December 31, 2010 December 31, 2009Related specificallowanceNon-accrual Corporate loans with valuation allowancesCommercial and industrial $ 4,257 $ 843Loans to financial institutions 818 259Mortgage and real estate 1,008 369Lease financing — —Other 241 218Recordedinvestment (1)Related specificallowanceTotal non-accrual Corporate loans with specific allowance $ 6,324 $ 1,689 $ 8,578 $ 2,480Non-accrual Corporate loans without specific allowanceCommercial and industrial $ 868Loans to financial institutions 440Mortgage and real estate 774Lease financing 45Other 159Total non-accrual Corporate loans without specific allowance $ 2,286 N/A $ 4,901 N/A(1) Recorded investment in a loan includes accrued interest, net deferred loan fees and costs, unamortized premium or discount, less any direct write-downs.(2) Average carrying value does not include related specific allowance.N/A Not Applicable220
Included in the Corporate and Consumer loan tables above are purchaseddistressed loans, which are loans that have evidenced significant creditdeterioration subsequent to origination but prior to acquisition by Citigroup.In accordance with SOP 03-3, the difference between the total expected cashflows for these loans and the initial recorded investments is recognized inincome over the life of the loans using a level yield. Accordingly, these loanshave been excluded from the impaired loan information presented above.In addition, per SOP 03-3, subsequent decreases to the expected cash flowsfor a purchased distressed loan require a build of an allowance so the loanretains its level yield. However, increases in the expected cash flows are firstrecognized as a reduction of any previously established allowance and thenrecognized as income prospectively over the remaining life of the loan byincreasing the loan’s level yield. Where the expected cash flows cannot bereliably estimated, the purchased distressed loan is accounted for under thecost recovery method.The carrying amount of the Company’s purchased distressed loanportfolio at December 31, 2010 was $392 million, net of an allowance of$77 million as of December 31, 2010.The changes in the accretable yield, related allowance and carrying amount net of accretable yield for 2010 are as follows:In millions of dollarsAccretableyieldCarryingamount of loanreceivableAllowanceBeginning balance $ 27 $ 920 $ 95Purchases (1) 1 130 —Disposals/payments received (11) (594) —Accretion (44) 44 —Builds (reductions) to the allowance 128 — (18)Increase to expected cash flows (2) 19 —FX/other 17 (50) —Balance at December 31, 2010 (2) $116 $ 469 $ 77(1) The balance reported in the column “Carrying amount of loan receivable” consists of $130 million of purchased loans accounted for under the level-yield method and $0 under the cost-recovery method. Thesebalances represent the fair value of these loans at their acquisition date. The related total expected cash flows for the level-yield loans were $131 million at their acquisition dates.(2) The balance reported in the column “Carrying amount of loan receivable” consists of $315 million of loans accounted for under the level-yield method and $154 million accounted for under the cost-recovery method.221
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UNITED STATESSECURITIES AND EXCHANG
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CITIGROUP’S 2010 ANNUAL REPORT ON
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As described above, Citigroup is ma
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Operating ExpensesCitigroup operati
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FIVE-YEAR SUMMARY OF SELECTED FINAN
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CITIGROUP REVENUESIn millions of do
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REGIONAL CONSUMER BANKINGRegional C
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2009 vs. 2008Revenues, net of inter
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SECURITIES AND BANKINGSecurities an
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TRANSACTION SERVICESTransaction Ser
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BROKERAGE AND ASSET MANAGEMENTBroke
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Japan Consumer FinanceCitigroup con
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The following table provides detail
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CORPORATE/OTHERCorporate/Other incl
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During 2010, average Consumer loans
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SEGMENT BALANCE SHEET AT DECEMBER 3
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Citigroup Regulatory Capital Ratios
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Capital Resources of Citigroup’s
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Regulatory Capital Standards Develo
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DepositsCiti continues to focus on
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Secured financing is primarily cond
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Each of the credit rating agencies
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RISK FACTORSThe ongoing implementat
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The emerging markets in which Citi
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is largely uncertain. However, any
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a short-term Liquidity Coverage Rat
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understanding or cause confusion ac
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MANAGING GLOBAL RISKRISK MANAGEMENT
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CREDIT RISKCredit risk is the poten
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(1) 2010 primarily includes an addi
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Non-Accrual Loans and AssetsThe tab
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Renegotiated LoansThe following tab
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Citi’s first mortgage portfolio i
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Consumer Mortgage FICO and LTVData
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Second Mortgages: December 31, 2010
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Interest Rate Risk Associated with
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North America Cards—FICO Informat
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CONSUMER LOAN DETAILSConsumer Loan
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Consumer Loan Modification Programs
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North America CardsNorth America ca
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Payment deferrals that do not conti
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Repurchase ReserveCiti has recorded
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Securities and Banking-Sponsored Pr
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The following table presents the co
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MARKET RISKMarket risk encompasses
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Trading PortfoliosPrice risk in tra
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INTEREST REVENUE/EXPENSE AND YIELDS
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AVERAGE BALANCES AND INTEREST RATES
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ANALYSIS OF CHANGES IN INTEREST EXP
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[This page intentionally left blank
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As required by SEC rules, the table
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The credit valuation adjustment amo
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The fair values shown are prior to
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Key Controls over Fair Value Measur
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The following table reflects the in
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The results of the July 1, 2010 tes
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As a result of the losses incurred
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MANAGEMENT’S ANNUAL REPORT ON INT
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• an “ownership change” under
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REPORT OF INDEPENDENT REGISTERED PU
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FINANCIAL STATEMENTS AND NOTES TABL
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CONSOLIDATED FINANCIAL STATEMENTSCO
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CONSOLIDATED BALANCE SHEET(Continue
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CONSOLIDATED STATEMENT OF CHANGES I
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CITIBANK CONSOLIDATED BALANCE SHEET
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NOTES TO CONSOLIDATED FINANCIAL STA
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Repurchase and Resale AgreementsSec
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ecoveries are added. Securities rec
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Consumer Mortgage Representations a
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Transfers of Financial AssetsFor a
Page 149 and 150: ACCOUNTING CHANGESChange in Account
Page 151 and 152: The following table reflects the in
Page 153 and 154: Measuring Liabilities at Fair Value
Page 155 and 156: Revisions to the Earnings-per-Share
Page 157 and 158: FUTURE APPLICATION OF ACCOUNTING ST
Page 159 and 160: 3. DISCONTINUED OPERATIONSSale of T
Page 161 and 162: CitiCapitalOn July 31, 2008, Citigr
Page 163 and 164: 5. INTEREST REVENUE AND EXPENSEFor
Page 165 and 166: Stock Award ProgramsCitigroup issue
Page 167 and 168: In January 2009, members of the Man
Page 169 and 170: Information with respect to stock o
Page 171 and 172: 9. RETIREMENT BENEFITSThe Company h
Page 173 and 174: The following table shows the chang
Page 175 and 176: A one-percentage-point change in th
Page 177 and 178: Level 3 Roll ForwardThe reconciliat
Page 179 and 180: 10. INCOME TAXESIn millions of doll
Page 181 and 182: The Company is currently under audi
Page 183 and 184: 11. EARNINGS PER SHAREThe following
Page 185 and 186: 13. BROKERAGE RECEIVABLES AND BROKE
Page 187 and 188: The table below shows the fair valu
Page 189 and 190: Debt Securities Held-to-MaturityThe
Page 191 and 192: Evaluating Investments for Other-Th
Page 193 and 194: The following is a 12-month roll-fo
Page 195 and 196: 16. LOANSCitigroup loans are report
Page 197 and 198: Residential Mortgage Loan to Values
Page 199: The following table presents Corpor
Page 203 and 204: 18. GOODWILL AND INTANGIBLE ASSETSG
Page 205 and 206: Intangible AssetsThe components of
Page 207 and 208: CGMHI has committed long-term finan
Page 209 and 210: 20. Regulatory CapitalCitigroup is
Page 211 and 212: 22. SECURITIZATIONS AND VARIABLE IN
Page 213 and 214: In millions of dollars As of Decemb
Page 215 and 216: Funding Commitments for Significant
Page 217 and 218: Credit Card SecuritizationsThe Comp
Page 219 and 220: Managed Loans—Citi HoldingsThe fo
Page 221 and 222: Key assumptions used in measuring t
Page 223 and 224: Mortgage Servicing RightsIn connect
Page 225 and 226: The Company administers one conduit
Page 227 and 228: Key Assumptions and Retained Intere
Page 229 and 230: Municipal InvestmentsMunicipal inve
Page 231 and 232: Derivative NotionalsIn millions of
Page 233 and 234: activities together with gains and
Page 235 and 236: Cash Flow HedgesHedging of benchmar
Page 237 and 238: The range of credit derivatives sol
Page 239 and 240: 24. CONCENTRATIONS OF CREDIT RISKCo
Page 241 and 242: Trading account assets and liabilit
Page 243 and 244: The internal valuation techniques u
Page 245 and 246: In millions of dollars at December
Page 247 and 248: Changes in Level 3 Fair Value Categ
Page 249 and 250: In millions of dollarsDecember 31,2
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26. FAIR VALUE ELECTIONSThe Company
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The following table provides inform
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Certain structured liabilitiesThe C
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28. PLEDGED SECURITIES, COLLATERAL,
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The repurchase reserve estimation p
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CollateralCash collateral available
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29. CONTINGENCIESOverviewIn additio
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pursuant to which Citigroup agreed
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court filings under docket number 0
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30. CITIBANK, N.A. STOCKHOLDER’S
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Condensed Consolidating Statements
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Condensed Consolidating Balance She
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33. SELECTED QUARTERLY FINANCIAL DA
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SUPERVISION AND REGULATIONCitigroup
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Citigroup continues to evaluate its
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CORPORATE INFORMATIONCITIGROUP EXEC
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SignaturesPursuant to the requireme
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Citigroup Inc.

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