Citibank 2012 Annual Report Download - page 106

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84
4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 4Q123Q12
North America Residential First Mortgages—Citigroup
In billions of dollars
NCLs
$5.63
$3.87
$4.60
$3.97 $4.12 $4.10 $4.03
$3.34
$0.38 (2),(3)
$3.68
$0.65 (2),(3)
$0.44 (2)
$0.46
$0.57 $0.48 $0.43 $0.77 (1)
$0.51
90+DPD
EOP Loans: 4Q11-$95.4 3Q12-$89.7 4Q12-$88.2
4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 4Q123Q12
North America Residential First Mortgages—Citi Holdings
In billions of dollars
NCLs 90+DPD
EOP Loans: 4Q11-$67.5 3Q12-$59.9 4Q12-$57.7
$5.49
$3.69
$4.45 $3.82 $3.93 $3.88 $3.77
$3.11
$0.37 (2),(3)
$3.44
$0.62 (2),(3)
$0.43 (2)
$0.44
$0.55 $0.46 $0.41 $0.75 (1)
$0.50
(1) The first quarter of 2012 included approximately $315 million of incremental charge-offs related to previously deferred principal balances on modified loans related to anticipated forgiveness of principal in connection
with the national mortgage settlement. Excluding the impact of these charge-offs, net credit losses would have been $0.45 billion and $0.43 billion for the Citigroup and Citi Holdings portfolios, respectively.
(2) The second quarter, third quarter and fourth quarter of 2012 include $43 million, $41 million and $62 million, respectively, of charge-offs related to Citi’s fulfillment of its obligations under the national mortgage
settlement. Citi expects net credit losses in Citi Holdings to continue to be impacted by its fulfillment of the terms of the national mortgage settlement through the second quarter of 2013. See also “National Mortgage
Settlement” below.
(3) The third quarter of 2012 included approximately $181 million of charge-offs related to OCC guidance with respect to the treatment of mortgage loans where the borrower has gone through Chapter 7 bankruptcy.
The fourth quarter of 2012 includes an approximately $10 million benefit to charge-offs related to finalizing the impact of the OCC guidance. Excluding these impacts, net credit losses would have been $0.47 billion in
3Q’12 and $0.39 billion in 4Q’12 for the Citigroup portfolio, and $0.44 billion in 3Q’12 and $0.38 billion in 4Q’12 for the Citi Holdings portfolio.