Citibank 2011 Annual Report Download - page 95

73
Renegotiated Loans
The following table presents Citi’s loans modified in TDRs.
In millions of dollars
Dec. 31,
2011
$ECæ
æ
Corporate renegotiated loans (1)
)Næ53æOFFICES
#OMMERCIALæANDæINDUSTRIALæ $ 206  
-ORTGAGEæANDæREALæESTATEæ 241 
,OANSæTOæFINANCIALæINSTITUTIONS 552 
/THER 79 
$ 1,078  
)NæOFFICESæOUTSIDEæTHEæ53
#OMMERCIALæANDæINDUSTRIALæ $ 223  
-ORTGAGEæANDæREALæESTATEæ 17 
,OANSæTOæFINANCIALæINSTITUTIONS 12 
/THER 6
$ 258  
Total Corporate renegotiated loans $ 1,336  
Consumer renegotiated loans (4)(5)(6)(7)
)Næ53æOFFICES
-ORTGAGEæANDæREALæESTATE $ 21,429  
#ARDS 5,766 
)NSTALLMENTæANDæOTHER 1,357 
$ 28,552  
)NæOFFICESæOUTSIDEæTHEæ53
-ORTGAGEæANDæREALæESTATE $ 936  
#ARDS 929 
)NSTALLMENTæANDæOTHER 1,342 
$ 3,207  
Total Consumer renegotiated loans $ 31,759  
æ )NCLUDESææMILLIONæANDææMILLIONæOFæNONACCRUALæLOANSæINCLUDEDæINæTHEæNONACCRUALæASSETSæ
TABLEæABOVEæATæ$ECEMBERæææANDæ$ECEMBERæææRESPECTIVELYæ4HEæREMAININGæLOANSæAREæ
ACCRUINGæINTEREST
æ )NæADDITIONæTOæMODIFICATIONSæREFLECTEDæASæ4$2SæATæ$ECEMBERæææ#ITIæALSOæMODIFIEDææMILLIONæ
ANDææMILLIONæOFæCOMMERCIALæLOANSæRISKæRATEDæh3UBSTANDARDæ.ON0ERFORMINGvæORæWORSEæASSETæ
CATEGORYæDEFINEDæBYæBANKINGæREGULATORSæINæ53æOFFICESæANDæOFFICESæOUTSIDEæTHEæ53æRESPECTIVELYæ4HESEæ
MODIFICATIONSæWEREæNOTæCONSIDEREDæ4$2SæBECAUSEæTHEæMODIFICATIONSæDIDæNOTæINVOLVEæAæCONCESSIONæAæ
REQUIREDæELEMENTæOFæAæ4$2æFORæACCOUNTINGæPURPOSESæ
æ )NæADDITIONæTOæMODIFICATIONSæREFLECTEDæASæ4$2SæATæ$ECEMBERæææ#ITIæALSOæMODIFIEDææ
MILLIONæANDææMILLIONæOFæCOMMERCIALæREALæESTATEæLOANSæRISKæRATEDæh3UBSTANDARDæ.ON0ERFORMINGvæORæ
WORSEæASSETæCATEGORYæDEFINEDæBYæBANKINGæREGULATORSæINæ53æOFFICESæANDæINæOFFICESæOUTSIDEæTHEæ53æ
RESPECTIVELYæ4HESEæMODIFICATIONSæWEREæNOTæCONSIDEREDæ4$2SæBECAUSEæTHEæMODIFICATIONSæDIDæNOTæINVOLVEæ
AæCONCESSIONæAæREQUIREDæELEMENTæOFæAæ4$2æFORæACCOUNTINGæPURPOSESææ
æ )NCLUDESææMILLIONæANDææMILLIONæOFæNONACCRUALæLOANSæINCLUDEDæINæTHEæNONACCRUALæASSETSæ
TABLEæABOVEæATæ$ECEMBERæææANDæ$ECEMBERæææRESPECTIVELYæ4HEæREMAININGæLOANSæAREæ
ACCRUINGæINTEREST
æ )NCLUDESææMILLIONæANDææMILLIONæOFæCOMMERCIALæREALæESTATEæLOANSæATæ$ECEMBERæææANDæ
$ECEMBERæææRESPECTIVELY
æ )NCLUDESææMILLIONæANDææMILLIONæOFæCOMMERCIALæLOANSæATæ$ECEMBERæææANDæ$ECEMBERæ
ææRESPECTIVELY
æ 3MALLERBALANCEæHOMOGENEOUSæLOANSæWEREæDERIVEDæFROMæ#ITISæRISKæMANAGEMENTæSYSTEMS
In certain circumstances, Citigroup modifies certain of its Corporate loans
involving a non-troubled borrower. These modifications are subject to Citi’s
normal underwriting standards for new loans and are made in the normal
course of business to match customers’ needs with available Citi products
or programs (these modifications are not included in the table above). In
other cases, loan modifications involve a troubled borrower to whom Citi
may grant a concession (modification). Modifications involving troubled
borrowers may include extension of maturity date, reduction in the stated
interest rate, rescheduling of future cash flows, reduction in the face amount
of the debt or reduction or waiver of accrued interest or fees. See “Consumer
Loan Modification Programs” below.
Forgone Interest Revenue on Loans (1)
In millions of dollars
In U.S.
offices
In non-
U.S.
offices
2011
total
)NTERESTæREVENUEæTHATæWOULDæHAVEæBEENæACCRUEDæ
ATæORIGINALæCONTRACTUALæRATESææ $ 3,597 $1,276 $ 4,873
!MOUNTæRECOGNIZEDæASæINTERESTæREVENUEæ 1,539 415 1,954
Forgone interest revenue $ 2,058 $ 861 $ 2,919
æ 2ELATESæTOæ#ORPORATEæNONACCRUALSæRENEGOTIATEDæLOANSæANDæ#ONSUMERæLOANSæONæWHICHæACCRUALæOFæ
INTERESTæHASæBEENæSUSPENDEDæ
æ )NTERESTæREVENUEæINæOFFICESæOUTSIDEæTHEæ53æMAYæREFLECTæPREVAILINGæLOCALæINTERESTæRATESæINCLUDINGæTHEæ
EFFECTSæOFæINFLATIONæANDæMONETARYæCORRECTIONæINæCERTAINæCOUNTRIESæ