Citibank 2012 Annual Report Download - page 133

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ANALYSIS OF CHANGES IN INTEREST EXPENSE AND NET INTEREST REVENUE (1)(2)(3)
2012 vs. 2011 2011 vs. 2010
Increase (decrease)
due to change in:
Increase (decrease)
due to change in:
In millions of dollars
Average
volume
Average
rate
Net
change
Average
volume
Average
rate
Net
change
Deposits
In U.S. offices $ 97 $ (314) $ (217) $ (124) $ 11 $ (113)
In offices outside the U.S. (4) 40 (766) (726) 16 282 298
Total $ 137 $(1,080) $ (943) $ (108) $ 293 $ 185
Federal funds purchased and securities loaned
or sold under agreements to repurchase
In U.S. offices $ 12 $ 64 $ 76 $ (22) $ 1 $ (21)
In offices outside the U.S. (4) 49 (505) (456) 259 151 410
Total $ 61 $ (441) $ (380) $ 237 $ 152 $ 389
Trading account liabilities (5)
In U.S. offices $ (48) $ (102) $ (150) $ 9 $ (26) $ (17)
In offices outside the U.S. (4) (12) (56) (68) 14 32 46
Total $ (60) $ (158) $ (218) $ 23 $ 6 $ 29
Short-term borrowings
In U.S. offices $ (15) $ 79 $ 64 $ (145) $ (390) $ (535)
In offices outside the U.S. (4) (104) 117 13 26 242 268
Total $ (119) $ 196 $ 77 $ (119) $ (148) $ (267)
Long-term debt
In U.S. offices $(2,422) $ 570 $(1,852) $(1,470) $ 410 $(1,060)
In offices outside the U.S. (4) (117) (312) (429) (168) 25 (143)
Total $(2,539) $ 258 $(2,281) $(1,638) $ 435 $(1,203)
Total interest expense $(2,520) $(1,225) $(3,745) $(1,605) $ 738 $ (867)
Net interest revenue $ 2,055 $(2,831) $ (776) $(2,166) $(3,567) $(5,733)
(1) The taxable equivalent adjustment is based on the U.S. federal statutory tax rate of 35% and is included in this presentation.
(2) Rate/volume variance is allocated based on the percentage relationship of changes in volume and changes in rate to the total net change.
(3) Detailed average volume, Interest revenue and Interest expense exclude Discontinued operations. See Note 3 to the Consolidated Financial Statements.
(4) Changes in average rates reflect changes in prevailing local interest rates, including inflationary effects and monetary corrections in certain countries.
(5) Interest expense on Trading account liabilities of ICG is reported as a reduction of Interest revenue. Interest revenue and Interest expense on cash collateral positions are reported in interest on Trading account assets
and Trading account liabilities, respectively.