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C » Topics » Securities and Banking Significant Revenue Items and Risk Exposure

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

Securities and Banking Significant Revenue Items and Risk Exposure

 
   Pretax Revenue
Marks
(in millions) 		  Risk Exposure
(in billions) 		 
 
   First Quarter 2009   Mar. 31,
2009 		  Dec. 31,
2008 		  %
Change 		 

Sub-prime related direct exposures

   $ (2,296 ) $ 10.2   $ 14.1     (28 )%

Private Equity and equity investments

     (1,240 )   8.5     11.3     (25 )

CVA related to exposure to monoline insurers

     (1,090 )   N/A     N/A     —  

Alt-A Mortgages(1)

     (490 )   12.5     12.6     (1 )

Highly leveraged loans and financing commitments(2)

     (247 )   9.5     10.0     (5 )

Commercial Real Estate (CRE) positions(2)(3)

     (186 )   36.1     37.5     (4 )

Structured Investment Vehicles' (SIVs) Assets

     (47 )   16.2     16.6     (2 )

Auction Rate Securities (ARS) proprietary positions

     (23 )   8.5     8.8     (3 )

CVA on Citi debt liabilities under fair value option

     180     N/A     N/A     —  

CVA on derivatives positions, excluding monoline insurers

     2,738     N/A     N/A     —  
                   

Subtotal

   $ (2,701 )                  

Non-credit accretion on reclassified assets

     541                    
                   

Total significant revenue items

   $ (2,160 )                  
                   
(1)
Net of hedges.

(2)
Net of underwriting fees.

(3)
Excludes CRE positions that were included in the SIV portfolio.
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