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17. ALLOWANCE FOR CREDIT LOSSES
In millions of dollars 2011  
Allowance for loan losses at beginning of year $ 40,655    
'ROSSæCREDITæLOSSES (23,164)  
'ROSSæRECOVERIES 3,126  
Net credit losses (NCLs) $(20,038)    
.#,S $ 20,038    
.ETæRESERVEæBUILDSæRELEASES (8,434)  
.ETæSPECIFICæRESERVEæBUILDSæ 169  
Total provision for credit losses $ 11,773    
/THERæNETæ (2,275)  
Allowance for loan losses at end of year $ 30,115    
Allowance for credit losses on unfunded lending commitments at beginning of year (2) $ 1,066    
0ROVISIONæFORæUNFUNDEDæLENDINGæCOMMITMENTS 51  
Allowance for credit losses on unfunded lending commitments at end of year (2) $ 1,136    
Total allowance for loans, leases, and unfunded lending commitments $ 31,251    
æ æPRIMARILYæINCLUDESæREDUCTIONSæOFæAPPROXIMATELYææBILLIONæRELATEDæTOæTHEæSALEæORæTRANSFERæTOæHELDFORSALEæOFæVARIOUSæ53æLOANæPORTFOLIOSæAPPROXIMATELYææMILLIONæRELATEDæTOæTHEæSALEæOFæTHEæ%GGæ"ANKINGæ0,#æ
CREDITæCARDæBUSINESSæAPPROXIMATELYææMILLIONæRELATEDæTOæTHEæTRANSFERæOFæTHEæ#ITIæ"ELGIUMæBUSINESSæTOæHELDFORSALEæANDæAPPROXIMATELYææRELATEDæTOæ&8æTRANSLATIONææPRIMARILYæINCLUDESæANæADDITIONæOFææBILLIONæ
RELATEDæTOæTHEæIMPACTæOFæCONSOLIDATINGæENTITIESæINæCONNECTIONæWITHæ#ITISæADOPTIONæOFæ3&!3ææSEEæ.OTEææTOæTHEæ#ONSOLIDATEDæ&INANCIALæ3TATEMENTSæANDæREDUCTIONSæOFæAPPROXIMATELYææBILLIONæRELATEDæTOæTHEæSALEæORæ
TRANSFERæTOæHELDFORSALEæOFæVARIOUSæ53æLOANæPORTFOLIOSæANDæAPPROXIMATELYææMILLIONæRELATEDæTOæTHEæTRANSFERæOFæAæ5+æFIRSTæMORTGAGEæPORTFOLIOæTOæHELDFORSALEææPRIMARILYæINCLUDESæREDUCTIONSæTOæTHEæLOANæLOSSæRESERVEæ
OFæAPPROXIMATELYææMILLIONæRELATEDæTOæSECURITIZATIONSæAPPROXIMATELYææMILLIONæRELATEDæTOæTHEæSALEæORæTRANSFERSæTOæHELDFORSALEæOFæ53æREALæESTATEæLENDINGæLOANSæANDææMILLIONæRELATEDæTOæTHEæTRANSFERæOFæTHEæ5+æ
CARDSæPORTFOLIOæTOæHELDFORSALE
æ 2EPRESENTSæADDITIONALæCREDITæLOSSæRESERVESæFORæUNFUNDEDæLENDINGæCOMMITMENTSæANDæLETTERSæOFæCREDITæRECORDEDæINæOther liabilitiesæONæTHEæ#ONSOLIDATEDæ"ALANCEæ3HEET
Allowance for Credit Losses and Investment in Loans at December 31, 2011
In millions of dollars Corporate Consumer Total
!LLOWANCEæFORæLOANæLOSSESæATæBEGINNINGæOFæYEAR $ 5,249 $ 35,406 $ 40,655
#HARGEOFFS (2,000) (21,164) (23,164)
2ECOVERIES 386 2,740 3,126
2EPLENISHMENTæOFæNETæCHARGEOFFS 1,614 18,424 20,038
.ETæRESERVEæRELEASES (1,083) (7,351) (8,434)
.ETæSPECIFICæRESERVEæBUILDSæRELEASESæææ (1,270) 1,439 169
/THER (17) (2,258) (2,275)
Ending balance $ 2,879 $ 27,236 $ 30,115
!LLOWANCEæFORæLOANæLOSSES
$ETERMINEDæINæACCORDANCEæWITHæ!3#æ $ 2,408 $ 18,334 $ 20,742
$ETERMINEDæINæACCORDANCEæWITHæ!3#æ 420 8,885 9,305
$ETERMINEDæINæACCORDANCEæWITHæ!3#æ 51 17 68
Total allowance for loan losses $ 2,879 $ 27,236 $ 30,115
,OANSæNETæOFæUNEARNEDæINCOME
,OANSæCOLLECTIVELYæEVALUATEDæFORæIMPAIRMENTæINæACCORDANCEæWITHæ!3#æ $215,387 $391,222 $606,609
,OANSæINDIVIDUALLYæEVALUATEDæFORæIMPAIRMENTæINæACCORDANCEæWITHæ!3#æ 3,994 30,863 34,857
,OANSæACQUIREDæWITHæDETERIORATEDæCREDITæQUALITYæINæACCORDANCEæWITHæ!3#æ 191 320 511
,OANSæHELDæATæFAIRæVALUE 3,939 1,326 5,265
Total loans, net of unearned income $223,511 $423,731 $647,242