Consumer Loan Balances, Net of Unearned Income for Citigroup (C)

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C » Topics » Consumer Loan Balances, Net of Unearned Income

This excerpt taken from the C 10-Q filed May 11, 2009.

Consumer Loan Balances, Net of Unearned Income

	End of Period						Average

In billions of dollars	Mar. 31, 2009		Dec. 31,(1) 2008		Mar. 31,(1) 2008		1st Qtr. 2009		4th Qtr.(1) 2008		1st Qtr.(1) 2008
On-balance sheet(2)	$	488.9	$	515.7	$	561.6	$	502.2	$	521.0	$	564.6
Securitized receivables (all in U.S. Cards)		106.0		105.9		109.5		102.6		105.6		105.8
Credit card receivables held-for-sale(3)		—		—		0.9		—		—		1.0

Total managed(4)	$	594.9	$	621.6	$	672.0	$	604.8	$	626.6	$	671.4

(1): Reclassified to conform to current period's presentation.
(2): Total loans and total average loans exclude certain interest and fees on credit cards of approximately $3 billion and $3 billion for the first quarter of 2009, approximately $3 billion and $3 billion for the fourth quarter of 2008 and approximately $2 billion and $2 billion for the first quarter of 2008, respectively, which are included in Consumer loans on the Consolidated Balance Sheet.
(3): Included in Other assets on the Consolidated Balance Sheet.
(4): This table presents loan information on a held basis and shows the impact of securitizations to reconcile to a managed basis. Although a managed-basis presentation is not in conformity with GAAP, the Company believes managed credit statistics provide a representation of performance and key indicators of the credit card business that are consistent with the way management reviews operating performance and allocates resources. Held-basis reporting is the related GAAP measure.

Citigroup's total Allowance for loans, leases and unfunded lending commitments of $32.650 billion is available to absorb probable credit losses inherent in the entire portfolio. For analytical purposes only, the portion of Citigroup's allowance for loan losses attributed to the Consumer portfolio was $24.281 billion at March 31, 2009, $22.366 billion at December 31, 2008 and $14.368 billion at March 31, 2008. The increase in the Allowance for loan losses from March 31, 2008 of $9.913 billion included net builds of $11.619 billion.

The builds consisted of $11.287 billion in Global Cards and Consumer Banking ($8.514 billion in North America and $2.773 billion in regions outside North America) and $332 million in Global Wealth Management.

The build of $8.514 billion in North America primarily reflected an increase in the estimate of losses across all portfolios based on weakening leading credit indicators, including increased delinquencies on first and second mortgages, unsecured personal loans, credit cards and auto loans. The build also reflected trends in the U.S. macroeconomic environment, including the housing market downturn, rising unemployment and portfolio growth. The build of $2.773 billion in regions outside North America primarily reflected credit deterioration in Mexico, the U.K., Spain, Greece, and India.

On-balance-sheet consumer loans of $488.9 billion decreased $72.7 billion, or 13%, from March 31, 2008, primarily driven by a decrease in residential real estate lending in Consumer Banking North America as well as the impact of FX translation across Global Cards, Consumer Banking and GWM.

Table of Contents

These excerpts taken from the C 10-K filed Feb 27, 2009.

Consumer Loan Balances, Net of Unearned Income


	End of period						Average
In billions of dollars	2008		2007		2006		2008		2007		2006
On-balance-sheet ⁽¹⁾	$	515.7	$	557.8	$	478.2	$	548.8	$	516.4	$	446.2
Securitized receivables (all in NA Cards)		105.9		108.1		99.6		106.9		98.9		96.4
Credit card receivables held-for-sale ⁽²⁾		—		1.0		—		0.5		3.0		0.3
Total managed ⁽³⁾	$	621.6	$	666.9	$	577.8	$	656.2	$	618.3	$	542.9

(1)

Total loans and total average loans exclude certain interest and fees on credit cards of approximately $3 billion and $2 billion, respectively, for 2008, $3 billion and $2 billion, respectively, for 2007, and $2 billion and $3 billion, respectively, for 2006, which are included in Consumer loans on the Consolidated Balance Sheet.

(2)	Included in Other assets on the Consolidated Balance Sheet.

(3)	This table presents loan information on a held basis and shows the impact of securitization to reconcile to a managed basis. Managed-basis reporting is a non-GAAP measure. Held-basis reporting is the related GAAP measure. See a discussion of managed-basis reporting on page 178 and 108.

Citigroup’s total allowance for loans, leases and unfunded lending commitments of $30.503 billion is available to absorb probable credit losses inherent in the entire portfolio. For analytical purposes only, the portion of Citigroup’s allowance for loan losses attributed to the Consumer portfolio was $22.366 billion at December 31, 2008, $12.393 billion at December 31, 2007 and $6.006 billion at December 31, 2006. The increase in the allowance for loan losses from December 31, 2007 of $9.973 billion included net builds of $11.034 billion.

The builds consisted of $10.785 billion in Global Cards and Consumer Banking ($8.216 billion in North America and $2.569 billion in regions outside North America), and $249 million in Global Wealth Management.

The build of $8.216 billion in North America primarily reflected an increase in the estimate of losses across all portfolios based on weakening leading credit indicators, including increased delinquencies on first and second mortgages, unsecured personal loans, credit cards and auto loans. The build also reflected trends in the U.S. macroeconomic environment, including the housing market downturn, rising unemployment and portfolio growth. The build of $2.569 billion in regions outside North America primarily reflected portfolio growth the impact of recent acquisitions, and credit deterioration in Mexico, Brazil, the U.K., Spain, Greece, India and Colombia.

On-balance-sheet consumer loans of $515.7 billion decreased $42.1 billion, or 8%, from December 31, 2007, primarily driven by a decrease in residential real estate lending in North America Consumer Banking as well as the impact of foreign currency translation across Global Cards, Consumer Banking and GWM.

Consumer Loan Balances, Net of Unearned Income


	End of period						Average
In billions of dollars	2008		2007		2006		2008		2007		2006
On-balance-sheet ⁽¹⁾	$	515.7	$	557.8	$	478.2	$	548.8	$	516.4	$	446.2
Securitized receivables (all in NA Cards)		105.9		108.1		99.6		106.9		98.9		96.4
Credit card receivables held-for-sale ⁽²⁾		—		1.0		—		0.5		3.0		0.3
Total managed ⁽³⁾	$	621.6	$	666.9	$	577.8	$	656.2	$	618.3	$	542.9

(1)

(2)	Included in Other assets on the Consolidated Balance Sheet.

(3)	This table presents loan information on a held basis and shows the impact of securitization to reconcile to a managed basis. Managed-basis reporting is a non-GAAP measure. Held-basis reporting is the related GAAP measure. See a discussion of managed-basis reporting on page 178 and 108.

This excerpt taken from the C 10-Q filed Oct 31, 2008.

Consumer Loan Balances, Net of Unearned Income

	End of Period						Average

*In billions of dollars*	Sept. 30, 2008		Jun. 30,(1) 2008		Sept. 30,(1) 2007		3rd Qtr. 2008		2nd Qtr.(1) 2008		3rd Qtr.(1) 2007
On-balance sheet(2)	$	539.0	$	550.1	$	537.0	$	544.6	$	563.9	$	527.5
Securitized receivables (all in North America Cards)		107.9		111.0		104.0		108.8		107.4		101.1
Credit card receivables held-for-sale(3)		—		—		3.0		—		1.0		3.0

Total managed(4)	$	646.9	$	661.1	$	644.0	$	653.4	$	672.3	$	631.6

(1): Reclassified to conform to the current period's presentation.
(2): Total loans and total average loans exclude certain interest and fees on credit cards of approximately $3 billion and $3 billion for the third quarter of 2008, approximately $3 billion and $2 billion for the second quarter of 2008 and approximately $2 billion and $2 billion for the third quarter of 2007, respectively, which are included in Consumer Loans on the Consolidated Balance Sheet.
(3): Included in Other Assets on the Consolidated Balance Sheet.
(4): This table presents loan information on a held basis and shows the impact of securitizations to reconcile to a managed basis. Although a managed basis presentation is not in conformity with GAAP, the Company believes managed credit statistics provide a representation of performance and key indicators of the credit card business that are consistent with the way management reviews operating performance and allocates resources. Held-basis reporting is the related GAAP measure.

Citigroup's total allowance for loans, leases and unfunded lending commitments of $25.0 billion is available to absorb probable credit losses inherent in the entire portfolio. For analytical purposes only, the portion of Citigroup's allowance for loan losses attributed to the Consumer portfolio was $19.1 billion at September 30, 2008, $16.5 billion at June 30, 2008 and $9.2 billion at September 30, 2007. The increase in the allowance for loan losses from September 30, 2007 of $9.9 billion included net builds of $10.9 billion.

The builds consisted of $10.8 billion in Consumer ($8.8 billion in North America and $2.0 billion in regions outside of North America) and $131 million in GWM.

The build of $8.8 billion in North America Consumer primarily reflects an increase in the losses embedded in the portfolio as a result of weakening leading credit indicators, including increased delinquencies on first mortgages, unsecured personal loans, credit cards, and auto loans. Also, the build reflected trends in the U.S. macro-economic environment, including the housing market downturn, rising unemployment rates and portfolio growth. The build of $2.0 billion in regions outside of North America Consumer primarily reflects portfolio growth and the impact of recent acquisitions and credit deterioration in certain countries.

On-balance-sheet consumer loans of $539.0 billion increased $2.0 billion from September 30, 2007, primarily driven by increases in all Global Cards and GWM regions, partially offset by decreases in Consumer Banking. Net credit losses, delinquencies and the related ratios are affected by the credit performance of the portfolios, including bankruptcies, unemployment, global economic conditions, portfolio growth and seasonal factors, as well as macroeconomic and regulatory policies.

EXPOSURE TO U.S. REAL ESTATE IN SECURITIES AND BANKING

This excerpt taken from the C 10-Q filed Aug 1, 2008.

Consumer Loan Balances, Net of Unearned Income

	End of Period						Average
*In billions of dollars*	Jun. 30, 2008		Mar. 31,(1) 2008		Jun. 30,(1) 2007		2nd Qtr. 2008		1st Qtr.(1) 2008		2nd Qtr.(1) 2007
On-balance sheet(2)	$	567.3	$	578.5	$	529.6	$	580.5	$	581.2	$	521.2
Securitized receivables (all in North America Cards)		111.0		109.5		101.1		107.4		105.8		97.5
Credit card receivables held-for-sale(3)		—		0.9		2.9		1.0		1.0		3.3

Total managed(4)	$	678.3	$	688.9	$	633.6	$	688.9	$	688.0	$	622.0

(1): Reclassified to conform to current period's presentation.
(2): Total loans and total average loans exclude certain interest and fees on credit cards of approximately $3 billion and $2 billion for the second quarter of 2008, approximately $2 billion and $2 billion for the first quarter of 2008 and approximately $2 billion and $2 billion for the second quarter of 2007, respectively, which are included in Consumer Loans on the Consolidated Balance Sheet.
(3): Included in Other Assets on the Consolidated Balance Sheet.
(4): This table presents loan information on a held basis and shows the impact of securitizations to reconcile to a managed basis. Although a managed basis presentation is not in conformity with GAAP, the Company believes managed credit statistics provide a representation of performance and key indicators of the credit card business that are consistent with the way management reviews operating performance and allocates resources. Held-basis reporting is the related GAAP measure.

Citigroup's total allowance for loans, leases and unfunded lending commitments of $21.9 billion is available to absorb probable credit losses inherent in the entire portfolio. For analytical purposes only, the portion of Citigroup's allowance for loan losses attributed to the Consumer portfolio was $16.5 billion at June 30, 2008, $14.4 billion at March 31, 2008 and $7.2 billion at June 30, 2007. The increase in the allowance for loan losses from June 30, 2007 of $9.3 billion included net builds of $9.6 billion.

The builds consisted of $9.5 billion in Consumer ($7.8 billion in North America and $1.7 billion in regions outside of North America) and $123 million in Global Wealth Management.

The build of $7.8 billion in North America Consumer primarily reflects an increase in the losses embedded in the portfolio as a result of weakening leading credit indicators, including increased delinquencies on first and second mortgages, unsecured personal loans, credit cards, and auto loans. Also, the build reflected trends in the U.S. macro-economic environment, including the housing market downturn rising, unemployment rates and portfolio growth. The build of $1.7 billion in regions outside of North America Consumer primarily reflects portfolio growth and the impact of recent acquisitions and credit deterioration in certain countries.

On-balance-sheet consumer loans of $567.3 billion increased $37.7 billion, or 7%, from June 30, 2007, primarily driven by EMEA, Latin America and Asia Cards, Consumer Banking and Global Wealth Management. Net credit losses, delinquencies and the related ratios are affected by the credit performance of the portfolios, including bankruptcies, unemployment, global economic conditions, portfolio growth and seasonal factors, as well as macroeconomic and regulatory policies.

EXPOSURE TO U.S. RESIDENTIAL REAL ESTATE IN SECURITIES AND BANKING

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

Consumer Loan Balances, Net of Unearned Income

	End of Period						Average
*In billions of dollars*	Mar. 31, 2008		Dec. 31,(1) 2007		Mar. 31,(1) 2007		1st Qtr. 2008		4th Qtr.(1) 2007		1st Qtr.(1) 2007
On-balance sheet(2)	$	593.0	$	587.7	$	512.2	$	595.6	$	585.2	$	507.9
Securitized receivables (all in U.S. Cards)		109.3		108.1		98.6		105.6		99.6		97.3
Credit card receivables held-for-sale(3)		0.9		1.0		3.0		1.0		2.7		3.0

Total managed(4)	$	703.2	$	696.8	$	613.8	$	702.2	$	687.5	$	608.2

(1): Reclassified to conform to current period's presentation.
(2): Total loans and total average loans exclude certain interest and fees on credit cards of approximately $2 billion and $2 billion for the first quarter of 2008, approximately $3 billion and $3 billion for the fourth quarter of 2007 and approximately $2 billion and $2 billion for the first quarter of 2007, respectively, which are included in Consumer Loans on the Consolidated Balance Sheet.
(3): Included in Other Assets on the Consolidated Balance Sheet.
(4): This table presents loan information on a held basis and shows the impact of securitizations to reconcile to a managed basis. Although a managed basis presentation is not in conformity with GAAP, the Company believes managed credit statistics provide a representation of performance and key indicators of the credit card business that are consistent with the way management reviews operating performance and allocates resources. Held-basis reporting is the related GAAP measure.

Citigroup's total allowance for loans, leases and unfunded lending commitments of $19.5 billion is available to absorb probable credit losses inherent in the entire portfolio. For analytical purposes only, the portion of Citigroup's allowance for loan losses attributed to the Consumer portfolio was $14.4 billion at March 31, 2008, $12.4 billion at December 31, 2007 and $6.3 billion at March 31, 2007. The increase in the allowance for loan losses from March 31, 2007 of $8.1 billion included net builds of $7.9 billion.

The builds consisted of $7.8 billion in Global Consumer ($6.2 billion in U.S. Consumer and $1.6 billion in International Consumer), and $93 million in Global Wealth Management.

The build of $6.2 billion in U.S. Consumer primarily reflected an increase in the losses embedded in the portfolio based on weakening leading credit indicators, including increased delinquencies on first and second mortgages, unsecured personal loans, credit cards, and auto loans. Also, the build reflected trends in the U.S. macroeconomic environment, including the housing market downturn, rising unemployment rates and portfolio growth. The build of $1.6 billion in International Consumer primarily reflected portfolio growth and the impact of recent acquisitions and credit deterioration in certain countries.

On-balance-sheet consumer loans of $593.0 billion increased $80.8 billion, or 16%, from March 31, 2007, primarily driven by U.S. Consumer Lending, U.S. Retail Distribution, International Cards, International Retail Banking and Private Bank. Net credit losses, delinquencies and the related ratios are affected by the credit performance of the portfolios, including bankruptcies, unemployment, global economic conditions, portfolio growth and seasonal factors, as well as macro-economic and regulatory policies.

This excerpt taken from the C 10-K filed Feb 22, 2008.

Consumer Loan Balances, Net of Unearned Income


	End of period						Average
In billions of dollars	2007		2006		2005		2007		2006		2005
On-balance-sheet ⁽¹⁾	$	593.3	$	510.8	$	450.6	$	550.1	$	477.4	$	432.8
Securitized receivables (all in U.S. Cards)		108.1		99.5		96.2		98.9		96.4		89.2
Credit card receivables held-for-sale ⁽²⁾		1.0		—		—		3.0		0.3		0.4
Total managed ⁽³⁾	$	702.4	$	610.3	$	546.8	$	652.0	$	574.1	$	522.4

(1)

Total loans and total average loans exclude certain interest and fees on credit cards of approximately $3 billion and $2 billion, respectively, for 2007, $2 billion and $3 billion, respectively, for 2006, and $4 billion and $4 billion, respectively, for 2005, which are included in Consumer Loans on the Consolidated Balance Sheet.

(2)	Included in Other Assets on the Consolidated Balance Sheet.

(3)	This table presents loan information on a held basis and shows the impact of securitization to reconcile to a managed basis. Managed-basis reporting is a non-GAAP measure. Held-basis reporting is the related GAAP measure. See a discussion of managed-basis reporting on page 44.

Citigroup’s total allowance for loans, leases and unfunded lending commitments of $17.367 billion is available to absorb probable credit losses inherent in the entire portfolio. For analytical purposes only, the portion of Citigroup’s allowance for loan losses attributed to the Consumer portfolio was $12.394 billion at December 31, 2007, $6.006 billion at December 31, 2006 and $6.922 billion at December 31, 2005. The increase in the allowance for loan losses from December 31, 2006 of $6.388 billion included net builds of $6.408 billion.

The builds consisted of $6.310 billion in Global Consumer ($5.028 billion in U.S. Consumer and $1.282 billion in International Consumer), and $100 million in Global Wealth Management.

The build of $5.028 billion in U.S. Consumer primarily reflected an increase in the estimate of losses embedded in the portfolio based on weakening leading credit indicators, including increased delinquencies on first and second mortgages, unsecured personal loans, credit cards, and auto loans. Also, the build reflected trends in the U.S. macroeconomic environment, including the housing market downturn, and portfolio growth. The build of $1.282 billion in International Consumer primarily reflected portfolio growth and the impact of recent acquisitions and deterioration in certain countries. The credit environment in International Consumer remained generally stable.

On-balance-sheet consumer loans of $593.3 billion increased $82.5 billion, or 16%, from December 31, 2006, primarily driven by U.S.

Consumer Lending, U.S. Retail Distribution, International Cards, International Retail Banking and Private Bank. Net credit losses, delinquencies and the related ratios are affected by the credit performance of the portfolios, including bankruptcies, unemployment, global economic conditions, portfolio growth and seasonal factors, as well as macro-economic and regulatory policies.

EXCERPTS ON THIS PAGE:

10-Q	May 11, 2009

10-K (2 sections)	Feb 27, 2009

10-Q	Oct 31, 2008

10-Q	Aug 1, 2008

10-Q	May 2, 2008

10-K	Feb 22, 2008

Citigroup (C)

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