Citibank 2012 Annual Report Download - page 76

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The table below shows Citi’s aggregate expected annual long-term debt maturities as of December 31, 2012:
Expected Long-Term Debt Maturities as of December 31, 2012
In billions of dollars 2013 2014 2015 2016 2017 Thereafter Total
Senior/subordinated debt (1) $24.6 $24.6 $19.9 $12.8 $21.2 $68.0 $ 171.1
Trust preferred securities 0.0 0.0 0.0 0.0 0.0 10.1 10.1
Securitized debt and securitizations 2.4 6.6 5.8 2.9 2.3 6.4 26.4
Local country and FHLB borrowings 15.7 5.8 3.3 4.2 0.7 2.2 31.9
Total long-term debt $42.7 $37.0 $29.0 $19.9 $24.2 $86.7 $239.5
(1) Includes certain structured notes, such as equity-linked and credit-linked notes, with early redemption features effective within one year. The amount and maturity of such notes included is as follows: $0.9 billion
maturing in 2013; $0.5 billion in 2014; $0.5 billion in 2015; $0.6 billion in 2016; $0.5 billion in 2017; and $2.0 billion thereafter.
As set forth in the table above, Citi’s structural long-term debt maturities peaked during 2012 at $80.7 billion, and included the maturity of the last
remaining TLGP debt.
Secured Financing Transactions and Short-Term
Borrowings
As referenced above, Citi supplements its primary sources of funding with
short-term borrowings. Short-term borrowings generally include (i) secured
financing (securities loaned or sold under agreements to repurchase, or
repos) and (ii) short-term borrowings consisting of commercial paper and
borrowings from the FHLBs and other market participants. See Note 19 to the
Consolidated Financial Statements for further information on Citigroup’s
and its affiliates’ outstanding short-term borrowings.
The following table contains the year-end, average and maximum
month-end amounts for the following respective short-term borrowings
categories at the end of each of the three prior fiscal years.
Federal funds purchased
and securities sold under
agreements to
repurchase
Short-term borrowings (1)
Commercial paper Other short-term borrowings
(2)
In billions of dollars 2012 2011 2010 2012 2011 2010 2012 2011 2010
Amounts outstanding at year end $211.2 $ 198.4 $ 189.6 $11.5 $ 21.3 $24.7 $40.5 $33.1 $ 54.1
Average outstanding during the year (3)(4) 223.8 219.9 212.3 17.9 25.3 35.0 36.3 45.5 68.8
Maximum month-end outstanding 237.1 226.1 246.5 21.9 25.3 40.1 40.6 58.2 106.0
Weighted-average interest rate
During the year (3)(4)(5) 1.26% 1.45% 1.32% 0.47% 0.28% 0.38% 1.77% 1.28% 1.14%
At year end (6) 0.81 1.10 0.99 0.60 0.38 0.35 1.06 1.09 0.40
(1) Original maturities of less than one year.
(2) Other short-term borrowings include broker borrowings and borrowings from banks and other market participants.
(3) Interest rates and amounts include the effects of risk management activities associated with the respective liability categories.
(4) Average volumes of securities loaned or sold under agreements to repurchase are reported net pursuant to FIN 41 (ASC 210-20-45). However, Interest expense excludes the impact of FIN 41 (ASC 210-20-45).
(5) Average rates reflect prevailing local interest rates, including inflationary effects and monetary correction in certain countries.
(6) Based on contractual rates at respective year ends; non-interest-bearing accounts are excluded from the weighted average interest rate calculated at year end.