CITIGROUP INC

For the period ended Jun 30, 2024. Filed Aug 2, 2024.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Jun 30, 2024 · Filed Aug 2, 2024

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C$119.05+0.5%Stored close · as of Nov 6, 2026

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Contents

Fair Value Levels

In millions of dollars at June 30, 2024	Level 1	Level 2	Level 3	Grossinventory	Netting(1)	Netbalance
Assets
Securities borrowed and purchased under agreements to resell	$1,527	$448,459	$126	$450,112	$(272,050)	$178,062
Trading non-derivative assets
Trading mortgage-backed securities
U.S. government-sponsored agency guaranteed	—	80,649	691	81,340	—	81,340
Residential	—	560	91	651	—	651
Commercial	—	977	166	1,143	—	1,143
Total trading mortgage-backed securities	$—	$82,186	$948	$83,134	$—	$83,134
U.S. Treasury and federal agency securities	$109,422	$1,320	$—	$110,742	$—	$110,742
State and municipal	—	211	1	212	—	212
Foreign government	54,488	36,023	45	90,556	—	90,556
Corporate	1,467	21,558	315	23,340	—	23,340
Equity securities(2)	56,150	8,380	244	64,774	—	64,774
Asset-backed securities	—	1,511	244	1,755	—	1,755
Other trading assets(3)	602	17,377	783	18,762	—	18,762
Total trading non-derivative assets	$222,129	$168,566	$2,580	$393,275	$—	$393,275
Trading derivatives
Interest rate contracts	$57	$141,542	$2,467	$144,066
Foreign exchange contracts	—	136,720	1,197	137,917
Equity contracts	66	51,329	983	52,378
Commodity contracts	—	12,190	1,168	13,358
Credit derivatives	—	7,259	884	8,143
Total trading derivatives—before netting and collateral	$123	$349,040	$6,699	$355,862
Netting agreements			$(277,223)
Netting of cash collateral received			(25,575)
Total trading derivatives—after netting and collateral	$123	$349,040	$6,699	$355,862	$(302,798)	$53,064
Investments
Mortgage-backed securities
U.S. government-sponsored agency guaranteed	$—	$31,742	$28	$31,770	$—	$31,770
Residential	—	563	25	588	—	588
Commercial	—	1	—	1	—	1
Total investment mortgage-backed securities	$—	$32,306	$53	$32,359	$—	$32,359
U.S. Treasury and federal agency securities	$69,632	$—	$—	$69,632	$—	$69,632
State and municipal	—	1,450	439	1,889	—	1,889
Foreign government	62,192	71,893	14	134,099	—	134,099
Corporate	3,208	1,982	112	5,302	—	5,302
Marketable equity securities	142	13	10	165	—	165
Asset-backed securities	—	768	—	768	—	768
Other debt securities	—	5,313	—	5,313	—	5,313
Non-marketable equity securities	—	—	505	505	—	505
Total investments	$135,174	$113,725	$1,133	$250,032	$—	$250,032

In millions of dollars at June 30, 2024 · Level 1 · Level 2 · Level 3 · Grossinventory · Netting(1) · Netbalance
Loans	$—	$8,225	$301	$8,526		$—	$8,526
Mortgage servicing rights	—	—	709	709		—	709
Other financial assets	$5,589	$10,229	$21	$15,839		$—	$15,839
Total assets	$364,542	$1,098,244	$11,569	$1,474,355		$(574,848)	$899,507
Total as a percentage of gross assets(4)	24.7%	74.5%	0.8%
Liabilities
Interest-bearing deposits	$82	$3,277	$41	$3,400		$—	$3,400
Securities loaned and sold under agreements to repurchase	254	259,766	286	260,306		(190,538)	69,768
Trading account liabilities
Securities sold, not yet purchased	88,480	15,664	32	104,176		—	104,176
Other trading liabilities	—	11	—	11		—	11
Total trading account liabilities	$88,480	$15,675	$32	$104,187		$—	$104,187
Trading derivatives
Interest rate contracts	$61	$132,231	$3,495	$135,787
Foreign exchange contracts	—	128,944	646	129,590
Equity contracts	70	61,341	3,033	64,444
Commodity contracts	—	14,624	764	15,388
Credit derivatives	—	6,920	810	7,730
Total trading derivatives—before netting and collateral	$131	$344,060	$8,748	$352,939
Netting agreements					$(277,223)
Netting of cash collateral paid					(28,644)
Total trading derivatives—after netting and collateral	$131	$344,060	$8,748	$352,939		$(305,867)	$47,072
Short-term borrowings	$—	$11,543	$201	$11,744		$—	$11,744
Long-term debt	—	89,031	20,375	109,406		—	109,406
Other financial liabilities	$4,660	$722	$3	$5,385		$—	$5,385
Total liabilities	$93,607	$724,074	$29,686	$847,367		$(496,405)	$350,962
Total as a percentage of gross liabilities(4)	11.0%		85.5%		3.5%

(1)Represents netting of (i) the amounts due under securities purchased under agreements to resell and the amounts owed under securities sold under agreements to repurchase and (ii) derivative exposures covered by a qualifying master netting agreement and cash collateral offsetting.

(2)Level 2 balance includes $2.2 billion of Visa Class C shares subject to a contractual sale restriction that expires in August 2024.

(3)Amounts exclude $26 million of investments measured at net asset value (NAV) in accordance with ASU 2015-07, Fair Value Measurement (Topic 820): Disclosures for Investments in Certain Entities That Calculate Net Asset Value per Share (or Its Equivalent).

(4)Because the amount of the cash collateral paid/received has not been allocated to the Level 1, 2 and 3 subtotals, these percentages are calculated based on total assets and liabilities measured at fair value on a recurring basis, excluding the cash collateral paid/received on derivatives.

Fair Value Levels

In millions of dollars at December 31, 2023	Level 1	Level 2	Level 3	Grossinventory	Netting(1)	Netbalance
Assets
Securities borrowed and purchased under agreements to resell	$—	$453,715	$139	$453,854	$(247,795)	$206,059
Trading non-derivative assets
Trading mortgage-backed securities
U.S. government-sponsored agency guaranteed	—	79,795	581	80,376	—	80,376
Residential	1	597	116	714	—	714
Commercial	—	464	202	666	—	666
Total trading mortgage-backed securities	$1	$80,856	$899	$81,756	$—	$81,756
U.S. Treasury and federal agency securities	$112,851	$2,398	$7	$115,256	$—	$115,256
State and municipal	—	594	3	597	—	597
Foreign government	44,203	28,238	54	72,495	—	72,495
Corporate	1,858	16,716	500	19,074	—	19,074
Equity securities	32,966	12,135	292	45,393	—	45,393
Asset-backed securities	—	1,223	531	1,754	—	1,754
Other trading assets(2)	97	16,784	833	17,714	—	17,714
Total trading non-derivative assets	$191,976	$158,944	$3,119	$354,039	$—	$354,039
Trading derivatives
Interest rate contracts	$49	$156,307	$2,138	$158,494
Foreign exchange contracts	—	158,672	1,022	159,694
Equity contracts	8	41,870	1,400	43,278
Commodity contracts	2	16,456	1,111	17,569
Credit derivatives	—	7,564	775	8,339
Total trading derivatives—before netting and collateral	$59	$380,869	$6,446	$387,374
Netting agreements			$(308,431)
Netting of cash collateral received			(21,226)
Total trading derivatives—after netting and collateral	$59	$380,869	$6,446	$387,374	$(329,657)	$57,717
Investments
Mortgage-backed securities
U.S. government-sponsored agency guaranteed	$—	$29,640	$75	$29,715	$—	$29,715
Residential	—	307	116	423	—	423
Commercial	—	1	—	1	—	1
Total investment mortgage-backed securities	$—	$29,948	$191	$30,139	$—	$30,139
U.S. Treasury and federal agency securities	$80,062	$299	$—	$80,361	$—	$80,361
State and municipal	—	1,589	542	2,131	—	2,131
Foreign government	60,133	70,871	194	131,198	—	131,198
Corporate	2,680	2,370	362	5,412	—	5,412
Marketable equity securities	159	72	27	258	—	258
Asset-backed securities	—	938	—	938	—	938
Other debt securities	—	6,757	—	6,757	—	6,757
Non-marketable equity securities(3)	—	—	483	483	—	483
Total investments	$143,034	$112,844	$1,799	$257,677	$—	$257,677

In millions of dollars at December 31, 2023 · Level 1 · Level 2 · Level 3 · Grossinventory · Netting(1) · Netbalance
Loans	$—	$7,167	$427	$7,594		$—	$7,594
Mortgage servicing rights	—	—	691	691		—	691
Other financial assets	$4,677	$8,321	$30	$13,028		$—	$13,028
Total assets	$339,746	$1,121,860	$12,651	$1,474,257		$(577,452)	$896,805
Total as a percentage of gross assets(3)	23.0%	76.1%	0.9%
Liabilities
Interest-bearing deposits	$—	$2,411	$29	$2,440		$—	$2,440
Securities loaned and sold under agreements to repurchase	—	228,048	390	228,438		(165,953)	62,485
Trading account liabilities
Securities sold, not yet purchased	91,163	13,460	35	104,658		—	104,658
Other trading liabilities	—	8	—	8		—	8
Total trading account liabilities	$91,163	$13,468	$35	$104,666		$—	$104,666
Trading derivatives
Interest rate contracts	$49	$149,914	$3,223	$153,186
Foreign exchange contracts	—	156,474	727	157,201
Equity contracts	18	44,894	3,034	47,946
Commodity contracts	—	17,964	832	18,796
Credit derivatives	—	7,234	848	8,082
Total trading derivatives—before netting and collateral	$67	$376,480	$8,664	$385,211
Netting agreements					$(308,431)
Netting of cash collateral paid					(26,101)
Total trading derivatives—after netting and collateral	$67	$376,480	$8,664	$385,211		$(334,532)	$50,679
Short-term borrowings	$—	$6,064	$481	$6,545		$—	$6,545
Long-term debt	—	77,958	38,380	116,338		—	116,338
Other financial liabilities	$4,298	$130	$6	$4,434		$—	$4,434
Total liabilities	$95,528	$704,559	$47,985	$848,072		$(500,485)	$347,587
Total as a percentage of gross liabilities(3)	11.3%		83.0%		5.7%

(2)Amounts exclude $25 million of investments measured at NAV in accordance with ASU 2015-07, Fair Value Measurement (Topic 820): Disclosures for Investments in Certain Entities That Calculate Net Asset Value per Share (or Its Equivalent).

(3)Because the amount of the cash collateral paid/received has not been allocated to the Level 1, 2 and 3 subtotals, these percentages are calculated based on total assets and liabilities measured at fair value on a recurring basis, excluding the cash collateral paid/received on derivatives.

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