7.3 billion - Citigroup

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The following charts detail the quarterly trends in delinquencies and net credit losses for Citi‘s home equity loan portfolio inNorth America. Similar to Citi‘s residential first mortgage portfolio, the majority of Citi‘s home equity loan exposure arises from itsportfolio within Citi Holdings—LCL.North America Home Equity Loans - Citigroupin billions of dollarsNCLs90+DPD$1.38$1.35 $1.32$1.19$0.86 $0.80 $0.78 $0.72$1.05 $1.03 $1.02$0.92$0.63(1)$0.55 $0.54 $0.572Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12EOP Loans: 1Q11-$48.2 4Q11-$43.5 1Q12-$42.0North America Home Equity Loans - Citi Holdingsin billions of dollarsNCLs90+DPD$1.37$1.34 $1.31$1.18$1.04 $1.01 $1.01$0.91$0.86 $0.80 $0.77$0.71$0.63(1)$0.54 $0.53 $0.562Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12EOP Loans: 1Q11-$44.4 4Q11-$40.0 1Q12-$38.6(1) The first quarter of 2012 includes approximately $55 million of incremental charge-offs related to previously deferred principal balances on modified mortgages.See note 1 to the ―Details of Credit Loss Experience‖ table above. Excluding the impact of these charge-offs, net credit losses would have decreased to $0.51 and$0.50 for the Citigroup and Citi Holdings portfolios, respectively.53CITIGROUP – 2012 FIRST QUARTER 10-Q
Note: For each of the tables above, days past due exclude (i) U.S. mortgage loans that are guaranteed by U.S. government-sponsored entities because the potential losspredominantly resides with the U.S. entities, and (ii) loans are recorded at fair value.Totals may not sum due to rounding.As evidenced by the tables above, there continued to beimprovement in home equity loan delinquencies and net creditlosses in the first quarter of 2012 (excluding the deferredprincipal net credit losses described in note 1 to the tablesabove). Given the lack of market in which to sell delinquenthome equity loans, as well as the relatively smaller number ofhome equity loan modifications and modification programs,Citi‘s ability to offset increased delinquencies and net creditlosses in its home equity loan portfolio in Citi Holdings,whether pursuant to deterioration of the underlying creditperformance of these loans or otherwise, continues to be morelimited as compared to residential first mortgages as discussedabove. Accordingly, Citi could begin to experience increaseddelinquencies and thus increased net credit losses in thisportfolio going forward. Citi has taken these trends anduncertainties into consideration in determining its loan lossreserves. See ―North America Consumer Mortgages—Loan LossReserve Coverage‖ below.54CITIGROUP – 2012 FIRST QUARTER 10-Q
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UNITED STATESSECURITIES AND EXCHANG
Page 3 and 4: CITIGROUP INCFIRST QUARTER 2012 - F
Page 5 and 6: As described above, Citigroup is ma
Page 7 and 8: The Consumer allowance for loan los
Page 9 and 10: SUMMARY OF SELECTED FINANCIAL DATA
Page 11 and 12: CITIGROUP REVENUESFirst QuarterIn m
Page 13 and 14: GLOBAL CONSUMER BANKINGGlobal Consu
Page 15 and 16: EMEA REGIONAL CONSUMER BANKINGEMEA
Page 17 and 18: ASIA REGIONAL CONSUMER BANKINGAsia
Page 19 and 20: [THIS PAGE INTENTIONALLY LEFT BLANK
Page 21 and 22: 1Q12 vs. 1Q11Net income of $1.2 bil
Page 23 and 24: CITI HOLDINGSCiti Holdings contains
Page 25 and 26: LOCAL CONSUMER LENDINGLocal Consume
Page 27 and 28: SPECIAL ASSET POOLSpecial Asset Poo
Page 29 and 30: BALANCE SHEET REVIEWThe following s
Page 31 and 32: transactions, see ―Capital Resour
Page 33 and 34: CAPITAL RESOURCES AND LIQUIDITYCAPI
Page 35 and 36: Common Stockholders’ EquityCitigr
Page 37 and 38: FUNDING AND LIQUIDITYOverviewCiti
Page 39 and 40: The table below details the long-te
Page 41 and 42: Credit RatingsCitigroup‘s funding
Page 43 and 44: OFF-BALANCE-SHEET ARRANGEMENTSCitig
Page 45 and 46: Details of Credit Loss Experience1s
Page 47 and 48: Non-Accrual LoansIn millions of dol
Page 49 and 50: Renegotiated LoansThe following tab
Page 51 and 52: North America Residential First Mor
Page 53: loans exiting foreclosure inventory
Page 57 and 58: Citi will account for the refinanci
Page 59 and 60: Legacy S&B Securitizations (princip
Page 61 and 62: In addition to the amounts set fort
Page 63 and 64: North America Citi Retail Services
Page 65 and 66: Consumer Loan Net Credit Losses and
Page 67 and 68: CORPORATE LOAN DETAILSFor corporate
Page 69 and 70: EXPOSURE TO COMMERCIAL REAL ESTATET
Page 71 and 72: Value at Risk for Trading Portfolio
Page 73 and 74: AVERAGE BALANCES AND INTEREST RATES
Page 75 and 76: (10) Excludes hybrid financial inst
Page 77 and 78: ANALYSIS OF CHANGES IN INTEREST EXP
Page 79 and 80: GIIPSGross funded credit exposure t
Page 81 and 82: Credit Default SwapsCiti buys and s
Page 84 and 85: CREDIT DERIVATIVESCitigroup makes m
Page 87 and 88: DISCLOSURE CONTROLS ANDPROCEDURESCi
Page 89 and 90: FINANCIAL STATEMENTS AND NOTES TABL
Page 91 and 92: CONSOLIDATED STATEMENT OF COMPREHEN
Page 93 and 94: CONSOLIDATED BALANCE SHEET(Continue
Page 95 and 96: CONSOLIDATED STATEMENT OF CASH FLOW
Page 97 and 98: ACCOUNTING CHANGESPresentation of C
Page 99 and 100: 2. DISCONTINUED OPERATIONSSale of E
Page 101 and 102: 4. INTEREST REVENUE AND EXPENSEFor
Page 103 and 104: period. The 2012 deferred cash awar
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9. EARNINGS PER SHAREThe following
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11. INVESTMENTSOverviewIn millions
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The following table presents the am
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During the first quarter of 2011, t
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Evaluating Investments for Other-Th
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Recognition and Measurement of OTTI
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12. LOANSCitigroup loans are report
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Consumer Credit Scores (FICO)In the
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In millions of dollarsRecordedinves
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Corporate LoansCorporate loans repr
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Corporate Loans Credit Quality Indi
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Corporate Troubled Debt Restructuri
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14. GOODWILL AND INTANGIBLE ASSETSG
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15. DEBTShort-Term BorrowingsShort-
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16. CHANGES IN ACCUMULATED OTHER CO
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In millions of dollars As of Decemb
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Funding Commitments for Significant
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Credit Card Securitizations—Citic
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The range in the key assumptions is
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The market for MSRs is not sufficie
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investors in the form of funded not
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are tendered and the Company (in it
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18. DERIVATIVES ACTIVITIESIn the or
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Derivative Mark-to-Market (MTM) Rec
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Key aspects of achieving ASC 815 he
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Credit DerivativesA credit derivati
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19. FAIR VALUE MEASUREMENTASC 820-1
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The key inputs depend upon the type
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Items Measured at Fair Value on a R
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In millions of dollars at December
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Changes in Level 3 Fair Value Categ
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Net realized/unrealizedgains (losse
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— Purchases of Corporate debt tra
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Fair Value(in millions) Methodology
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Items Measured at Fair Value on a N
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20. FAIR VALUE ELECTIONSThe Company
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The following table provides inform
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The following table provides inform
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Financial standby letters of credit
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Value-Transfer NetworksThe Company
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Credit Commitments and Lines of Cre
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Mortgage-Backed Securities and CDO
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Condensed Consolidating Statements
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Condensed Consolidating Balance She
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Condensed Consolidating Statements
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LEGAL PROCEEDINGSFor a discussion o
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Item 6. ExhibitsSee Exhibit Index.1
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EXHIBIT INDEX3.01.1 Restated Certif
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7.3 billion - Citigroup

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