Citibank 2009 Annual Report Download - page 106

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ANALYSIS OF CHANGES IN INTEREST REVENUE (1)(2)(3)
2009 vs. 2008 2008 vs. 2007
Increase (decrease)
due to change in:
Increase (decrease)
due to change in:
In millions of dollars
Average
volume
Average
rate
Net
change
Average
volume
Average
rate
Net
change
Deposits with banks (4) $ 2,129 $ (3,725) $ (1,596) $ 1,146 $ (1,169) $ (23)
Federal funds sold and securities borrowed or
purchased under agreements to resell
In U.S. offices $ (706) $ (2,390) $ (3,096) $(1,516) $(5,141) $ (6,657)
In offices outside the U.S. (4) (487) (2,483) (2,970) (3,029) 495 (2,534)
Total $ (1,193) $ (4,873) $ (6,066) $(4,545) $(4,646) $ (9,191)
Trading account assets (5)
In U.S. offices $ (4,105) $ (1,382) $ (5,487) $(2,302) $ 1,076 $ (1,226)
In offices outside the U.S. (4) (788) (448) (1,236) (628) 826 198
Total $ (4,893) $ (1,830) $ (6,723) $(2,930) $ 1,902 $ (1,028)
Investments (1)
In U.S. offices $ 707 $ 906 $ 1,613 $(1,325) $ (965) $ (2,290)
In offices outside the U.S. (4) 1,261 (473) 788 (769) 354 (415)
Total $ 1,968 $ 433 $ 2,401 $(2,094) $ (611) $ (2,705)
Loans—consumer
In U.S. offices $ (2,640) $ (2,834) $ (5,474) $ 220 $ (558) $ (338)
In offices outside the U.S. (4) (2,175) (2,386) (4,561) 1,670 (723) 947
Total $ (4,815) $ (5,220) $(10,035) $ 1,890 $(1,281) $ 609
Loans—corporate
In U.S. offices $ (151) $ (622) $ (773) $ 1,042 $(2,655) $ (1,613)
In offices outside the U.S. (4) (2,353) (1,718) (4,071) (909) 1,048 139
Total $ (2,504) $ (2,340) $ (4,844) $ 133 $(1,607) $ (1,474)
Total loans $ (7,319) $ (7,560) $(14,879) $ 2,023 $ (2,888) $ (865)
Other interest-earning assets $ (1,307) $ (1,694) $ (3,001) $ 225 $(1,261) $ (1,036)
Total interest revenue $(10,615) $(19,249) $(29,864) $ (6,175) $(8,673) $ (14,848)
(1) The taxable equivalent adjustment is based on the U.S. federal statutory tax rate of 35% and is excluded from this presentation.
(2) Rate/volume variance is allocated based on the percentage relationship of changes in volume and changes in rate to the total net change.
(3) Detailed average volume, interest revenue and interest expense exclude discontinued operations. See Note 3 to the Consolidated Financial Statements.
(4) Changes in average rates reflect changes in prevailing local interest rates, including inflationary effects and monetary corrections in certain countries.
(5) Interest expense on Trading account liabilities of ICG is reported as a reduction of interest revenue. Interest revenue and interest expense on cash collateral positions are reported in Trading account assets and Trading
account liabilities, respectively.