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C » Topics » ITEMS IMPACTING THE SECURITIES AND BANKING BUSINESS

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

ITEMS IMPACTING THE SECURITIES AND BANKING BUSINESS

 

Securities and Banking Significant Revenue Items and Risk Exposure          
    Pretax Revenue
Marks
(in millions)		      Risk Exposure
(in billions)		  
     2008     2007 (1)      Dec. 31,
2008		    Dec. 31,
2007		    % Change  

Sub-prime related direct exposures (2)

   $ (14,283 )   $ (18,312 )    $ 14.1    $ 37.3    (62 )%

Monoline insurers Credit Valuation Adjustment (CVA)

     (5,736 )     (967 )      N/A      N/A    —  

Highly leveraged loans and financing commitments (3)

     (4,892 )     (1,487 )      10.0      43.2    (77 )

Alt-A mortgage securities (4)

     (3,812 )     —        12.6      22.0    (43 )

Auction Rate Securities (ARS) (5)

     (1,733 )     —        8.8      8.0    10  

Commercial Real Estate (CRE) (6)

     (2,627 )     —        37.5      53.7    (30 )

Structured Investment Vehicles (SIVs)

     (3,269 )     —        16.6      46.4    (63 )

CVA on Citi liabilities at fair value option

     4,558       888        N/A      N/A    —  

 

Total significant revenue items

   $ (31,794 )   $ (19,878 )         

 

 

(1) Represents the third and fourth quarters of 2007, reflecting revenue marks since the commencement of the current credit crisis.
(2) Net of impact from hedges against direct subprime asset-backed securities collateralized debt obligation super senior positions.
(3) Net of underwriting fees.
(4) Net of hedges.
(5) Excludes losses of $306 million and $87 million in the third and fourth quarters of 2008, respectively, arising from the ARS legal settlement.
(6) Excludes CRE positions that are included in the SIV portfolio.

 

ITEMS IMPACTING THE SECURITIES AND BANKING BUSINESS

 

Securities and Banking Significant Revenue Items and Risk Exposure          
    Pretax Revenue
Marks
(in millions)		      Risk Exposure
(in billions)		  
     2008     2007 (1)      Dec. 31,
2008		    Dec. 31,
2007		    % Change  

Sub-prime related direct exposures (2)

   $ (14,283 )   $ (18,312 )    $ 14.1    $ 37.3    (62 )%

Monoline insurers Credit Valuation Adjustment (CVA)

     (5,736 )     (967 )      N/A      N/A    —  

Highly leveraged loans and financing commitments (3)

     (4,892 )     (1,487 )      10.0      43.2    (77 )

Alt-A mortgage securities (4)

     (3,812 )     —        12.6      22.0    (43 )

Auction Rate Securities (ARS) (5)

     (1,733 )     —        8.8      8.0    10  

Commercial Real Estate (CRE) (6)

     (2,627 )     —        37.5      53.7    (30 )

Structured Investment Vehicles (SIVs)

     (3,269 )     —        16.6      46.4    (63 )

CVA on Citi liabilities at fair value option

     4,558       888        N/A      N/A    —  

 

Total significant revenue items

   $ (31,794 )   $ (19,878 )         

 

 

(1) Represents the third and fourth quarters of 2007, reflecting revenue marks since the commencement of the current credit crisis.
(2) Net of impact from hedges against direct subprime asset-backed securities collateralized debt obligation super senior positions.
(3) Net of underwriting fees.
(4) Net of hedges.
(5) Excludes losses of $306 million and $87 million in the third and fourth quarters of 2008, respectively, arising from the ARS legal settlement.
(6) Excludes CRE positions that are included in the SIV portfolio.

 

EXCERPTS ON THIS PAGE:

10-K (2 sections)
Feb 27, 2009

RELATED TOPICS for C:

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