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C » Topics » Citibank, N.A. Components of Capital Under Regulatory Guidelines

This excerpt taken from the C 10-Q filed May 2, 2008.

Citibank, N.A. Components of Capital Under Regulatory Guidelines(1)

In billions of dollars
   March 31,
2008(2)(3)
   December 31,
2007(2)
Tier 1 Capital   $ 80.9   $ 82.0
Total Capital (Tier 1 and Tier 2)     121.2     121.6
(1)
The U.S. Banking Agencies granted industry-wide interim capital relief for the impact of adopting SFAS 158.

(2)
The impact of including Citigroup's own credit rating in valuing liabilities for which the fair value option has been selected is excluded from Tier 1 Capital at March 31, 2008 and December 31, 2007, respectively.

(3)
Net deferred tax assets that did not qualify for inclusion in Tier 1 Capital based on the capital guidelines were $1.2 billion at March 31, 2008.

        Citibank, N.A. had a net loss of $0.9 billion for the first quarter of 2008.

        Citibank, N.A. did not issue any additional subordinated notes during the first quarter of 2008. For the full year 2007, Citibank, N.A. issued an additional $5.2 billion of subordinated notes to Citicorp Holdings Inc. that qualify for inclusion in Citibank, N.A.'s Tier 2 Capital. Total subordinated notes issued to Citicorp Holdings Inc. that were outstanding at March 31, 2008 and December 31, 2007, and included in Citibank, N.A.'s Tier 2 Capital, amounted to $28.2 billion.

40

        The following table presents the estimated sensitivity of Citigroup's and Citibank, N.A.'s Capital Ratios to changes of $100 million of Tier 1 or Total Capital (numerator) or changes of $1 billion in risk-adjusted assets or adjusted average assets (denominator). This information is provided solely for the purpose of analyzing the impact that a change in the Company's financial position or results of operations has on these ratios. These sensitivities only consider a single change to either a component of Capital, risk-adjusted assets or adjusted average assets. Accordingly, an event that affects more than one factor may have a larger basis point impact than what is reflected in this table.

 
   Tier 1 Capital Ratio
   Total Capital Ratio
   Leverage Ratio
 
   Impact of $100
million change
in Tier 1 Capital
   Impact of $1
billion change
in risk-adjusted
assets
   Impact of $100
million change
in Total Capital
   Impact of $1
billion change
in risk-adjusted
assets
   Impact of $100
million change
in Tier 1 Capital
   Impact of $1
billion change
in adjusted
average assets
Citigroup   0.8 bps   0.6 bps   0.8 bps   0.9 bps   0.4 bps   0.2 bps
Citibank, N.A.    1.1 bps   0.9 bps   1.1 bps   1.4 bps   0.8 bps   0.5 bps
This excerpt taken from the C 10-K filed Feb 22, 2008.

Citibank, N.A. Components of Capital Under Regulatory Guidelines (1)

 

In billions of dollars at year end

     2007  (2)     2006

Tier 1 Capital

   $ 82.0     $ 59.9

Total Capital (Tier 1 and Tier 2)

     121.6       89.1

 

(1) The U.S. Banking Agencies granted interim capital relief for the impact of adopting SFAS 158.
(2) The impact of including Citigroup’s own credit rating in determining the fair value of derivatives and issued debt carried at fair value upon the adoption of SFAS 157 is excluded from Tier 1 Capital at December 31, 2007.

Citibank, N.A. had net income for 2007 amounting to $2.3 billion. During 2007, Citibank, N.A. received contributions from its parent company of $25.3 billion.

During 2007, Citibank, N.A. issued an additional $5.2 billion of subordinated notes to Citicorp Holdings Inc. that qualify for inclusion in Citibank, N.A.’s Tier 2 Capital. Total subordinated notes issued to Citicorp Holdings Inc. that were outstanding at December 31, 2007 and December 31, 2006, and included in Citibank, N.A.’s Tier 2 Capital, amounted to $28.2 billion and $23.0 billion, respectively.

This excerpt taken from the C 10-Q filed Nov 5, 2007.

Citibank, N.A. Components of Capital Under Regulatory Guidelines(1)

In billions of dollars
   Sept. 30,
2007(2)
   June 30,
2007(2)
   Dec. 31,
2006
Tier 1 Capital   $ 73.3   $ 67.0   $ 59.9
Total Capital (Tier 1 and Tier 2)     109.6     99.9     89.1
   
 
 
(1)
The U.S. banking agencies granted interim capital relief for the impact of adopting SFAS 158.

(2)
The impact related to using Citigroup's credit rating under the adoption of SFAS 157 is excluded from Tier 1 Capital at September 30, 2007 and June 30, 2007, respectively.

        Citibank, N.A. had net income for the third quarter of 2007 and for the nine months ended September 30, 2007 of $1.6 billion and $6.8 billion, respectively. During the third quarter of 2007 and for the nine months ended September 30, 2007, Citibank received contributions from parent company of $6.1 billion and $11.8 billion, respectively.

        During the first nine months of 2007 and full year 2006, Citibank issued an additional $4.2 billion and $7.8 billion, respectively, of subordinated notes to Citicorp Holdings Inc. that qualify for inclusion in Citibank, N.A.'s Tier 2 Capital. Total subordinated notes issued to Citicorp Holdings Inc. that were outstanding at September 30, 2007 and December 31, 2006 and included in Citibank, N.A.'s Tier 2 Capital amounted to $27.2 billion and $23.0 billion, respectively.

This excerpt taken from the C 10-Q filed Aug 3, 2007.

Citibank, N.A. Components of Capital Under Regulatory Guidelines(1)

In billions of dollars

 

June 30,
2007(2)

 

March 31,
2007(2)

 

December 31,
2006

 

Tier 1 Capital

 

$

67.0

 

$

62.2

 

$

59.9

 

Total Capital (Tier 1 and Tier 2)

 

99.9

 

92.2

 

89.1

 

(1)          The U.S. banking agencies granted interim capital relief for the impact of adopting SFAS 158.

(2)          The impact related to using Citigroup’s credit rating under the adoption of SFAS 157 is excluded from Tier 1 Capital at June 30, 2007 and March 31, 2007, respectively.

Citibank, N.A. had net income for the second quarter of 2007 and for the six months ended June 30, 2007 of $3.0 billion and $5.2 billion, respectively.  During the second quarter of 2007 and for the six months ended June 30, 2007, Citibank received contributions from parent company of $3.7 billion and $5.7 billion, respectively.

During the first six months of 2007 and full year 2006, Citibank issued an additional $2.4 billion and $7.8 billion, respectively, of subordinated notes to Citicorp Holdings Inc. that qualify for inclusion in Citibank, N.A.’s Tier 2 Capital.  Total subordinated notes issued to Citicorp Holdings Inc. that were outstanding at June 30, 2007 and December 31, 2006 and included in Citibank, N.A.’s Tier 2 Capital amounted to $25.4 billion and $23.0 billion, respectively.

This excerpt taken from the C 10-Q filed May 4, 2007.

Citibank, N.A. Components of Capital Under Regulatory Guidelines(1)

In billions of dollars

   Mar. 31, 2007(2)
   Dec. 31, 2006
Tier 1 Capital   $ 62.2   $ 59.9
Total Capital (Tier 1 and Tier 2)     92.2     89.1
   
 
(1)
The U.S. Banking Agencies granted interim capital relief for the impact of adopting SFAS 158.

(2)
The impact related to using Citigroup's credit rating under the adoption of SFAS 157 is excluded from Tier 1 Capital at March 31, 2007.

        Citibank, N.A. had net income for the first three months ended March 31, 2007 amounting to $2.2 billion.

        Citibank, N.A. did not issue any additional subordinated notes during the first quarter of 2007. For the full year 2006, Citibank, N.A. issued an additional $7.8 billion of subordinated notes that qualify for inclusion in Citibank, N.A.'s Tier 2 Capital. Total subordinated notes that were outstanding at March 31, 2007 and December 31, 2006 and included in Citibank, N.A.'s Tier 2 Capital amounted to $23.0 billion.

This excerpt taken from the C 10-K filed Feb 23, 2007.

Citibank, N.A. Components of Capital Under Regulatory Guidelines

 

In billions of dollars at year end   2006

Tier 1 Capital (1)

   $ 59.9

Total Capital (Tier 1 and Tier 2) (1)

     89.1

 

(1) The U.S. Banking Agencies granted interim capital relief for the impact of adopting SFAS 158 at December 31, 2006.

 

Citibank, N.A. had net income for 2006 amounting to $9.3 billion. During 2006, Citibank, N.A. paid dividends of $3.0 billion.

During 2006, Citibank, N.A. issued an additional $7.8 billion of subordinated notes that qualify for inclusion in Citibank, N.A.’s Tier 2 Capital. Total subordinated notes that were outstanding at December 31, 2006 and included in Citibank, N.A.’s Tier 2 Capital amounted to $23.0 billion.

This excerpt taken from the C 10-Q filed Nov 3, 2006.

Citibank, N.A. Components of Capital Under Regulatory Guidelines

In billions of dollars

   Sept. 30,
2006
   June 30,
2006
   Dec. 31,
2005
Tier 1 Capital   $ 50.6   $ 48.7   $ 44.7
Total Capital (Tier 1 and Tier 2)     75.7     73.5     66.8
   
 
 

        Citibank had net income for the third quarter of 2006 and for the nine months ended September 30, 2006 of $2.3 billion and $7.6 billion, respectively. During the third quarter of 2006 and the nine months ended September 30, 2006, Citibank paid dividends of $0.6 billion and $2.6 billion, respectively.

        During the first nine months of 2006 and full year 2005, Citibank issued an additional $2.9 billion and $1.4 billion, respectively, of subordinated notes to Citigroup that qualify for inclusion in Citibank's Tier 2 Capital. Total subordinated notes issued to Citigroup that were outstanding at September 30, 2006 and December 31, 2005 and included in Citibank's Tier 2 capital amounted to $18.1 billion and $15.3 billion, respectively. Following the merger of Citicorp into Citigroup on August 1, 2005, all of Citibank's subordinated debt was assigned to Citigroup. See "Funding" on page 79 for further details of the merger.

*
This is a forward-looking statement within the meaning of the Private Securities Litigation Reform Act. See "Forward-Looking Statements" on page 84.

76

This excerpt taken from the C 10-Q filed Aug 4, 2006.

Citibank, N.A. Components of Capital Under Regulatory Guidelines

In billions of dollars
   June 30,
2006
   March 31,
2006
   December 31,
2005
Tier 1 Capital   $ 48.7   $ 46.5   $ 44.7
Total Capital (Tier 1 and Tier 2)     73.5     69.5     66.8
   
 
 

        Citibank had net income for the second quarter of 2006 and for the six months ended June 30, 2006 of $2.5 billion and $5.3 billion, respectively. During the second quarter of 2006 and the six months ended June 30, 2006, Citibank paid dividends of $0.7 billion and $2.0 billion, respectively.

        During the first six months of 2006 and full year 2005, Citibank issued an additional $2.5 billion and $1.4 billion, respectively, of subordinated notes to Citigroup that qualify for inclusion in Citibank's Tier 2 Capital. Total subordinated notes issued to Citigroup that were outstanding at June 30, 2006 and December 31, 2005 and included in Citibank's Tier 2 capital amounted to $17.8 billion and $15.3 billion, respectively. Following the merger of Citicorp into Citigroup on August 1, 2005, all of Citibank's subordinated debt was assigned to Citigroup. See "Funding" on page 76 for further details of the merger.

        *    This statement is a forward-looking statement within the meaning of the Private Securities Litigation Reform Act. See "Forward-Looking Statements" on page 81.

73

This excerpt taken from the C 10-Q filed May 5, 2006.

Citibank, N.A. Components of Capital Under Regulatory Guidelines

In billions of dollars
   March 31,
2006
   December 31,
2005
Tier 1 Capital   $ 46.5   $ 44.7
Total Capital (Tier 1 and Tier 2)     69.5     66.8
   
 

        Citibank had net income for the three months ended March 31, 2006 amounting to $2.8 billion. During the first quarter of 2006, Citibank paid dividends of $1.3 billion.

        During the first quarter of 2006 and full year 2005, Citibank issued an additional $0.8 billion and $1.4 billion, respectively, of subordinated notes to Citigroup that qualify for inclusion in Citibank's Tier 2 capital. Total subordinated notes issued to Citigroup that were outstanding at March 31, 2006 and December 31, 2005 and included in Citibank's Tier 2 capital amounted to $16.0 billion and $15.3 billion, respectively. Following the merger of Citicorp into Citigroup on August 1, 2005, all of Citibank's subordinated debt was assigned to Citigroup. See "Funding" on page 69 for further details of the merger.

67

This excerpt taken from the C 10-K filed Feb 24, 2006.

Citibank, N.A. Components of Capital Under Regulatory Guidelines

 
   2005
   2004
 
   In billions of dollars at year end
Tier 1 Capital   $ 44.7   $ 41.7
Total Capital (Tier 1 and Tier 2)     66.8     62.0
   
 

        Citibank had net income for 2005 amounting to $8.8 billion. During 2005, Citibank paid dividends of $4.1 billion.

        During 2005, Citibank issued an additional $1.4 billion of subordinated notes to Citigroup that qualify for inclusion in Citibank's Tier 2 capital. Total subordinated notes issued to Citigroup that were outstanding at December 31, 2005 and December 31, 2004 and included in Citibank's Tier 2 capital amounted to $15.3 billion and $13.9 billion, respectively. Following the merger of Citicorp into Citigroup on August 1, 2005, all of Citibank's subordinated debt was assigned to Citigroup. See "Funding" on page 87 for further details of the merger.

84

This excerpt taken from the C 10-Q filed Nov 4, 2005.

Citibank, N.A. Components of Capital Under Regulatory Guidelines

In billions of dollars
   September 30,
2005
   June 30,
2005
   December 31, 2004
Tier 1 Capital   $ 43.4   $ 42.8   $ 41.7
Total Capital (Tier 1 and Tier 2)   $ 65.0   $ 64.3   $ 62.0
   
 
 

        Citibank's net income for the third quarter of 2005 and for the nine months ended September 30, 2005 amounted to $2.4 billion and $6.8 billion, respectively. During the third quarter of 2005 and the nine months ended September 30, 2005, Citibank paid dividends of $1.8 billion and $4.0 billion, respectively.

        During the first nine months of 2005 and the full year 2004, Citibank issued an additional $1.1 billion and $1.6 billion, respectively, of subordinated notes to Citigroup that qualify for inclusion in Citibank's Tier 2 capital. Total subordinated notes issued to Citigroup that were outstanding at September 30, 2005 and December 31, 2004 and included in Citibank's Tier 2 capital amounted to $15.0 billion and $13.9 billion, respectively. Following the merger of Citicorp into Citigroup on August 1, 2005, all of Citibank's subordinated debt was assigned to Citigroup. See "Funding" on page 61 for further details of the merger.

This excerpt taken from the C 10-Q filed Aug 4, 2005.

Citibank, N.A. Components of Capital Under Regulatory Guidelines

In billions of dollars
   June 30,
2005
   March 31,
2005
   December 31,
2004
Tier 1 Capital   $ 42.8   $ 42.7   $ 41.7
Total Capital (Tier 1 and Tier 2)   $ 64.3   $ 64.0   $ 62.0
   
 
 

        Citibank's net income for the second quarter of 2005 and for the six months ended June 30, 2005 amounted to $2.1 billion and $4.4 billion, respectively. During the second quarter of 2005 and the six months ended June 30, 2005, Citibank paid dividends of $1.6 billion and $2.2 billion, respectively.

        During the first six months of 2005 and the full year 2004, Citibank issued an additional $1.1 billion and $1.6 billion, respectively, of subordinated notes to Citicorp that qualify for inclusion in Citibank's Tier 2 capital. Total subordinated notes issued to Citicorp that were outstanding at June 30, 2005 and December 31, 2004 and included in Citibank's Tier 2 capital amounted to $15.0 billion and $13.9 billion, respectively. Following the merger of Citicorp into Citigroup on August 1, 2005, all of Citibank's subordinated debt will be assigned to Citigroup. See "Funding" on page 56 for further details of the merger.

EXCERPTS ON THIS PAGE:

10-Q
May 2, 2008
10-K
Feb 22, 2008
10-Q
Nov 5, 2007
10-Q
Aug 3, 2007
10-Q
May 4, 2007
10-K
Feb 23, 2007
10-Q
Nov 3, 2006
10-Q
Aug 4, 2006
10-Q
May 5, 2006
10-K
Feb 24, 2006
10-Q
Nov 4, 2005
10-Q
Aug 4, 2005

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