Citibank 2009 Annual Report Download - page 254

244
Presented in the tables below are the maximum potential amounts of
future payments classified based upon internal and external credit ratings as
of December 31, 2009 and 2008. As previously mentioned, the determination
of the maximum potential future payments is based on the notional amount
of the guarantees without consideration of possible recoveries under recourse
provisions or from collateral held or pledged. Such amounts bear no
relationship to the anticipated losses, if any, on these guarantees.
Maximum potential amount of future payments
In billions of dollars as of December 31, 2009
Investment
grade
Non-investment
grade
Not
rated Total
Financial standby letters of credit $49.2 $13.5 $ 26.7 $ 89.4
Performance guarantees 6.5 3.7 3.7 13.9
Derivative instruments deemed to be guarantees — — 7.7 7.7
Loans sold with recourse — — 0.3 0.3
Securities lending indemnifications — — 64.5 64.5
Credit card merchant processing — — 59.7 59.7
Custody indemnifications and other 27.7 5.8 — 33.5
Total $83.4 $23.0 $162.6 $ 269.0
Maximum potential amount of future payments
In billions of dollars as of December 31, 2008
Investment
grade
Non-investment
grade
Not
rated Total
Financial standby letters of credit $49.2 $28.6 $ 16.4 $ 94.2
Performance guarantees 5.7 5.0 5.6 16.3
Derivative instruments deemed to be guarantees — — 14.8 14.8
Guarantees of collection of contractual cash flows — — 0.3 0.3
Loans sold with recourse — — 0.3 0.3
Securities lending indemnifications — — 47.6 47.6
Credit card merchant processing — — 56.7 56.7
Custody indemnifications and other 18.5 3.1 — 21.6
Total $73.4 $36.7 $141.7 $ 251.8