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This excerpt taken from the C 8-K filed Jun 10, 2009. Total Tier 1
Capital
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$ | 121,925 |
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(1)
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Tier 1 Capital
excludes net unrealized gains (losses) on available-for-sale debt
securities and net unrealized gains on available- for-sale equity
securities with readily determinable fair values, in accordance with
regulatory risk-based capital guidelines. In arriving at Tier 1 Capital,
institutions are required to deduct net unrealized losses on
available-for-sale equity securities with readily determinable fair
values, net of tax.
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(2)
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The FRB
granted interim capital relief for the impact of adopting SFAS
158.
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(3)
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The impact of
including Citi’s own credit rating in valuing liabilities for which the
fair value option has been elected is excluded from Tier 1 Capital, in
accordance with regulatory risk-based capital
guidelines.
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(4)
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Of Citi’s
approximately $43 billion of net deferred tax assets at March 31, 2009,
approximately $15 billion of such assets were includable without
limitation in regulatory capital pursuant to the risk-based capital
guidelines, while approximately $23 billion of such assets exceeded the
limitation imposed by these guidelines and, as “disallowed deferred tax
assets,” were deducted in arriving at Tier 1 Capital. Citi’s other
approximately $5 billion of net deferred tax assets at March 31, 2009
primarily represented the deferred tax effects of unrealized gains and
losses on available-for-sale debt securities, which are permitted to be
excluded prior to deriving the amount of net deferred tax assets subject
to limitation under the guidelines.
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Contacts
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Media:
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Alex
Samuelson
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(212)
559-2791
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Stephen
Cohen
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(212)
793-0181
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Jon
Diat
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(212)
793-5462
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Investors:
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John
Andrews
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(212)
559-2718
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Fixed Income
Investors:
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Craig
Leslie
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(212)
559-5091
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