Citibank 2012 Annual Report Download - page 80

58
OFF-BALANCE-SHEET ARRANGEMENTS
Citigroup enters into various types of off-balance-sheet arrangements in the
ordinary course of business. Citi’s involvement in these arrangements can
take many different forms, including without limitation:
•฀ purchasing or retaining residual and other interests in special purpose
entities, such as credit card receivables and mortgage-backed and other
asset-backed securitization entities;
•฀ holding senior and subordinated debt, interests in limited and general
partnerships and equity interests in other unconsolidated entities; and
•฀ providing guarantees, indemnifications, loan commitments, letters of
credit and representations and warranties.
Citi enters into these arrangements for a variety of business purposes.
These securitization entities offer investors access to specific cash flows
and risks created through the securitization process. The securitization
arrangements also assist Citi and Citi’s customers in monetizing their
financial assets at more favorable rates than Citi or the customers could
otherwise obtain.
The table below presents where a discussion of Citi’s various off-
balance-sheet arrangements may be found in this Form 10-K. In addition,
see “Significant Accounting Policies and Significant Estimates—
Securitizations,” as well as Notes 1, 22 and 27 to the Consolidated
Financial Statements.
Types of Off-Balance-Sheet Arrangements Disclosures in
this Form 10-K
Variable interests and other obligations,
including contingent obligations,
arising from variable interests in
nonconsolidated VIEs
See Note 22 to the Consolidated
Financial Statements.
Leases, letters of credit, and lending
and other commitments
See Note 27 to the Consolidated
Financial Statements.
Guarantees See Note 27 to the Consolidated
Financial Statements.