CITIGROUP INC
For the period ended Sep 30, 2026. Filed Nov 5, 2026.
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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.
Sep 30, 2026 · Filed Nov 5, 2026
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23. GUARANTEES AND COMMITMENTS
- GUARANTEES AND COMMITMENTS
The following tables present information about Citi’s guarantees at September 30, 2026 and December 31, 2025.
For additional information on Citi’s guarantees and indemnifications included in the tables below, as well as its other guarantees and indemnifications excluded from these tables, see Note 28 to the Consolidated Financial Statements in Citi’s 2025 Form 10-K.
| Maximum potential amount of future payments (in billions of dollars) | ||||
|---|---|---|---|---|
| September 30, 2026 | Expire within1 year | Expire after1 year | Total amountoutstanding | Carrying value(in millions of dollars) |
| Financial standby letters of credit | $24.0 | $61.3 | $85.3 | $423 |
| Performance guarantees | 9.5 | 7.7 | 17.2 | 24 |
| Derivative instruments considered to be guarantees | 24.5 | 44.2 | 68.7 | 690 |
| Loans sold with recourse | — | 0.8 | 0.8 | — |
| Securities lending indemnifications(1) | 174.0 | — | 174.0 | — |
| Card merchant processing(2) | 36.6 | — | 36.6 | — |
| Credit card arrangements with partners(3) | 2.0 | 17.8 | 19.8 | — |
| Guarantees under the Fixed Income Clearing Corporation sponsored member repo program | 235.7 | — | 235.7 | — |
| Other(4)(5) | — | 8.2 | 8.2 | 121 |
| Total | $506.3 | $140.0 | $646.3 | $1,258 |
| Maximum potential amount of future payments(in billions of dollars) | ||||
|---|---|---|---|---|
| December 31, 2025 | Expire within1 year | Expire after1 year | Total amountoutstanding | Carrying value(in millions of dollars) |
| Financial standby letters of credit | $15.1 | $68.1 | $83.2 | $546 |
| Performance guarantees | 4.9 | 6.4 | 11.3 | 25 |
| Derivative instruments considered to be guarantees | 14.5 | 31.8 | 46.3 | 542 |
| Loans sold with recourse | — | 0.9 | 0.9 | — |
| Securities lending indemnifications(1) | 134.0 | — | 134.0 | — |
| Card merchant processing(2) | 38.2 | — | 38.2 | — |
| Credit card arrangements with partners(3) | 2.1 | 19.4 | 21.5 | — |
| Guarantees under the Fixed Income Clearing Corporation sponsored member repo program | 306.1 | — | 306.1 | — |
| Other(4)(5) | — | 8.2 | 8.2 | 100 |
| Total | $514.9 | $134.8 | $649.7 | $1,213 |
(1)The carrying values of securities lending indemnifications were immaterial for either period presented, as the probability of potential liabilities arising from these guarantees is minimal.
(2)At September 30, 2026 and December 31, 2025, this maximum potential exposure was estimated to be approximately $36.6 billion and $38.2 billion, respectively. However, Citi believes that the maximum exposure is not representative of the actual potential loss exposure based on its historical experience. This contingent liability is unlikely to arise, as most products and services are delivered when purchased and amounts are refunded when items are returned to merchants. See “Card Merchant Processing” in Note 28 to the Consolidated Financial Statements in Citi’s 2025 Form 10-K.
(3)Primarily guarantees associated with co-branded credit card partnership agreements. Citi believes that the maximum exposure is not representative of actual potential loss exposure based on historical and expected future performance. See “Credit Card Arrangements with Partners” in Note 28 to the Consolidated Financial Statements in Citi’s 2025 Form 10-K.
(4)Includes guarantees of subsidiaries.
(5)In the fourth quarter of 2024, the Company entered into an agreement that indemnifies certain subsidiaries of the Company against certain matters related to the business operated by the Company through other subsidiaries, including certain existing, as well as potential future, legal proceedings, including tax matters. Certain of such indemnification obligations have no stated expiration date and are not subject to specific limitations on the maximum potential amount of future payments that the Company could be required to make. The Company is not able to estimate the maximum potential amount of future payments to be made under this agreement because the triggering events are not predictable.
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