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C » Topics » 7. PRINCIPAL TRANSACTIONS

This excerpt taken from the C 8-K filed Oct 13, 2009.

7. PRINCIPAL TRANSACTIONS

 

Principal transactions revenue consists of realized and unrealized gains and losses from trading activities. Trading activities include revenues from fixed income, equities, credit and commodities products, as well as foreign exchange transactions. Not included in the table below is the impact of net interest revenue related to trading activities, which is an integral part of trading activities’ profitability. The following table presents principal transactions revenue for the years ended December 31:

 

In millions of dollars

 

2008

 

2007

 

2006

 

Regional Consumer Banking

 

$

149

 

$

592

 

$

519

 

Institutional Clients Group

 

6,498

 

6,324

 

5,626

 

Subtotal Citicorp

 

6,647

 

6,916

 

6,145

 

Local Consumer Lending

 

1,520

 

773

 

(20

)

Brokerage & Asset Mgmt

 

(4,958

)

172

 

314

 

Special Asset Pool

 

(26,714

)

(20,719

)

1,621

 

Subtotal Citi Holdings

 

(30,152

)

(19,774

)

1,915

 

Corporate/Other

 

904

 

511

 

(70

)

Total Citigroup

 

$

(22,601

)

$

(12,347

)

$

7,990

 

 

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

7. PRINCIPAL TRANSACTIONS

Principal transactions revenue consists of realized and unrealized gains and losses from trading activities. Not included in the table below is the impact of net interest revenue related to trading activities, which is an integral part of trading activities’ profitability. The following table presents principal transactions revenue for the years ended December 31:

 

In millions of dollars   2008     2007      2006 (1)  

Institutional Clients Group

       

Fixed income (2)

   $ (6,455 )   $ 4,053      $ 5,593  

Credit products (3)

     (21,614 )     (21,805 )      (744 )

Equities (4)

     (394 )     682        866  

Foreign exchange (5)

     2,316       1,222        693  

Commodities (6)

     667       686        487  

Total ICG

   $ (25,480 )   $ (15,162 )    $ 6,895  

Consumer Banking/Global Cards (7)

     1,616       1,364        504  

Global Wealth Management (7)

    836       1,315        680  

Corporate/Other

     840       397        (89 )

Total principal transactions revenue

   $ (22,188 )   $ (12,086 )    $ 7,990  

 

(1) Reclassified to conform to the current period’s presentation.
(2) Includes revenues from government securities and corporate debt, municipal securities, preferred stock, mortgage securities, and other debt instruments. Also includes spot and forward trading of currencies and exchange-traded and over-the-counter (OTC) currency options, options on fixed income securities, interest rate swaps, currency swaps, swap options, caps and floors, financial futures, OTC options, and forward contracts on fixed income securities. Losses in 2008 reflect the volatility and dislocation in the credit and trading markets.
(3) Includes revenues from structured credit products such as North America and Europe collateralized debt obligations. In 2007 and 2008, losses recorded were related to subprime-related exposures in ICG’s lending and structuring business and exposures to super senior CDOs.
(4) Includes revenues from common, preferred and convertible preferred stock, convertible corporate debt, equity-linked notes, and exchange-traded and OTC equity options and warrants.
(5) Includes revenues from foreign exchange spot, forward, option and swap contracts, as well as translation gains and losses.
(6) Primarily includes the results of Phibro LLC, which trades crude oil, refined oil products, natural gas, and other commodities.
(7) Includes revenues from various fixed income, equities and foreign exchange transactions.

 

7. PRINCIPAL TRANSACTIONS

Principal transactions revenue consists of realized and unrealized gains and losses from trading activities. Not included in the table below is the impact of net interest revenue related to trading activities, which is an integral part of trading activities’ profitability. The following table presents principal transactions revenue for the years ended December 31:

 

In millions of dollars   2008     2007      2006 (1)  

Institutional Clients Group

       

Fixed income (2)

   $ (6,455 )   $ 4,053      $ 5,593  

Credit products (3)

     (21,614 )     (21,805 )      (744 )

Equities (4)

     (394 )     682        866  

Foreign exchange (5)

     2,316       1,222        693  

Commodities (6)

     667       686        487  

Total ICG

   $ (25,480 )   $ (15,162 )    $ 6,895  

Consumer Banking/Global Cards (7)

     1,616       1,364        504  

Global Wealth Management (7)

    836       1,315        680  

Corporate/Other

     840       397        (89 )

Total principal transactions revenue

   $ (22,188 )   $ (12,086 )    $ 7,990  

 

(1) Reclassified to conform to the current period’s presentation.
(2) Includes revenues from government securities and corporate debt, municipal securities, preferred stock, mortgage securities, and other debt instruments. Also includes spot and forward trading of currencies and exchange-traded and over-the-counter (OTC) currency options, options on fixed income securities, interest rate swaps, currency swaps, swap options, caps and floors, financial futures, OTC options, and forward contracts on fixed income securities. Losses in 2008 reflect the volatility and dislocation in the credit and trading markets.
(3) Includes revenues from structured credit products such as North America and Europe collateralized debt obligations. In 2007 and 2008, losses recorded were related to subprime-related exposures in ICG’s lending and structuring business and exposures to super senior CDOs.
(4) Includes revenues from common, preferred and convertible preferred stock, convertible corporate debt, equity-linked notes, and exchange-traded and OTC equity options and warrants.
(5) Includes revenues from foreign exchange spot, forward, option and swap contracts, as well as translation gains and losses.
(6) Primarily includes the results of Phibro LLC, which trades crude oil, refined oil products, natural gas, and other commodities.
(7) Includes revenues from various fixed income, equities and foreign exchange transactions.

 

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

7. PRINCIPAL TRANSACTIONS

Principal transactions revenue consists of realized and unrealized gains and losses from trading activities. Not included in the table below is the impact of net interest revenue related to trading activities, which is an integral part of trading activities’ profitability. The following table presents principal transactions revenue for the years ended December 31:

 

In millions of dollars   2007     2006 (1)      2005 (1)  

Markets & Banking:

       

Fixed income (2)

   $ 4,053     $ 5,593      $ 3,923  

Credit products (3)

     (21,805 )     (744 )      (75 )

Equities (4)

     818       870        271  

Foreign exchange (5)

     1,222       693        604  

Commodities (6)

     686       487        843  

Total Markets & Banking

     (15,026 )     6,899        5,566  

Global Consumer (7)

     1,371       513        397  

Global Wealth Management (7)

     1,315       680        519  

Alternative Investments (7)

     (136 )     (4 )      9  

Corporate/Other

     397       (89 )      165  

Total principal transactions revenue

   $ (12,079 )   $ 7,999      $ 6,656  

 

(1) Reclassified to conform to the current period’s presentation.
(2) Includes revenues from government securities and corporate debt, municipal securities, preferred stock, mortgage securities, and other debt instruments. Also includes spot and forward trading of currencies and exchange-traded and over-the-counter (OTC) currency options, options on fixed income securities, interest rate swaps, currency swaps, swap options, caps and floors, financial futures, OTC options, and forward contracts on fixed income securities.
(3) Includes revenues from structured credit products such as North America and Europe collateralized debt obligations. In 2007, losses recorded were related to subprime-related exposures in Markets & Banking’s lending and structuring business and exposures to super senior CDOs.
(4) Includes revenues from common, preferred and convertible preferred stock, convertible corporate debt, equity-linked notes, and exchange-traded and OTC equity options and warrants.
(5) Includes revenues from foreign exchange spot, forward, option and swap contracts, as well as translation gains and losses.
(6) Primarily includes the results of Phibro Inc., which trades crude oil, refined oil products, natural gas, and other commodities.
(7) Includes revenues from various fixed income, equities and foreign exchange transactions.

EXCERPTS ON THIS PAGE:

8-K
Oct 13, 2009
10-K (2 sections)
Feb 27, 2009
10-K
Feb 22, 2008

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