Citibank 2010 Annual Report Download - page 104

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U.S. Installment and Other Revolving Loans
The U.S. Installment portfolio consists of Consumer loans in the following
businesses: Consumer Finance, Retail Banking, Auto, Student Lending
and Cards. Other Revolving consists of Consumer loans (Ready Credit
and Checking Plus products) in the Consumer Retail Banking business.
Commercial-related loans are not included.
As of December 31, 2010, the U.S. Installment portfolio totaled
approximately $26 billion, while the U.S. Other Revolving portfolio was
approximately $0.9 billion. In the table below, the U.S. Installment portfolio
excludes loans associated with the sale of The Student Loan Corporation that
occurred in the fourth quarter of 2010.
While substantially all of the U.S. Installment portfolio is reported in LCL
within Citi Holdings, it does include $0.4 billion of Consumer Retail Banking
loans, which is reported in Citicorp. The U.S. Other Revolving portfolio is
managed under Citicorp. Approximately 44% of the Installment portfolio had
FICO credit scores less than 620 on a refreshed basis. Approximately 26% of
the Other Revolving portfolio is composed of loans having FICO scores less
than 620.
Balances: December 31, 2010
Refreshed Installment Other Revolving
FICO ≥ 660 41% 59%
620 ≤ FICO < 660 15% 15%
FICO < 620 44% 26%
Note: Based on balances of $25 billion for Installment and $0.8 billion for Other Revolving. Excludes
Canada and Puerto Rico. Excludes balances where FICO was unavailable ($0.9 billion for Installment).
The table below provides delinquency statistics for loans 90+DPD for both
the Installment and Other Revolving portfolios. Loans 90+DPD are more
likely to be associated with low refreshed FICO scores both because low scores
are indicative of repayment risk and because their delinquency has been
reported by Citigroup to the credit bureaus. On a refreshed basis, loans with
FICO scores less than 620 exhibit significantly higher delinquencies than in
any other FICO band and will drive the majority the losses.
For information on Citi’s loan modification programs regarding
Installment loans, see “Consumer Loan Modification Programs” below.
90+DPD Delinquency Rate: December 31, 2010
Refreshed Installment 90+DPD% Other Revolving 90+DPD%
FICO ≥ 660 0.2% 0.0%
620 ≤ FICO < 660 0.6% 0.3%
FICO < 620 8.3% 7.4%
Note: Based on balances of $25 billion for Installment and $0.8 billion for Other Revolving. Excludes
Canada and Puerto Rico. Excludes balances where FICO was unavailable ($0.9 billion for Installment).