Citibank 2013 Annual Report Download - page 130

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Average Balances and Interest Rates—Liabilities and Equity,
and Net Interest Revenue (1)(2)(3)(4)
Taxable Equivalent Basis
Average volume Interest expense % Average rate
In millions of dollars, except rates 2013 2012 2011 2013 2012 2011 2013 2012 2011
Liabilities
Deposits
In U.S. offices (5) $ 262,544 $ 233,100 $ 222,796 $ 1,754 $ 2,137 $ 2,266 0.67% 0.92% 1.02%
In offices outside the U.S. (6) 481,134 487,437 484,625 4,482 5,553 6,265 0.93% 1.14% 1.29%
Total $ 743,678 $ 720,537 $ 707,421 $ 6,236 $ 7,690 $ 8,531 0.84% 1.07% 1.21%
Federal funds purchased and securities loaned
or sold under agreements to repurchase (7)
In U.S. offices $ 126,742 $ 121,843 $ 120,039 $ 677 $ 852 $ 776 0.53% 0.70% 0.65%
In offices outside the U.S. (6) 102,623 101,928 99,848 1,662 1,965 2,421 1.62% 1.93% 2.42%
Total $ 229,365 $ 223,771 $ 219,887 $ 2,339 $ 2,817 $ 3,197 1.02% 1.26% 1.45%
Trading account liabilities (8)(9)
In U.S. offices $ 24,834 $ 29,486 $ 37,279 $ 93 $ 116 $ 266 0.37% 0.39% 0.71%
In offices outside the U.S. (6) 47,908 44,639 49,162 76 74 142 0.16% 0.17% 0.29%
Total $ 72,742 $ 74,125 $ 86,441 $ 169 $ 190 $ 408 0.23% 0.26% 0.47%
Short-term borrowings (10)
In U.S. offices $ 77,439 $ 78,747 $ 87,472 $ 176 $ 203 $ 139 0.23% 0.26% 0.16%
In offices outside the U.S. (6) 35,551 31,897 39,052 421 524 511 1.18% 1.64% 1.31%
Total $ 112,990 $ 110,644 $ 126,524 $ 597 $ 727 $ 650 0.53% 0.66% 0.51%
Long-term debt (11)
In U.S. offices $ 194,140 $ 255,093 $ 325,709 $ 6,602 $ 8,896 $ 10,702 3.40% 3.49% 3.29%
In offices outside the U.S. (6) 10,194 14,603 17,970 234 292 721 2.30% 2.00% 4.01%
Total $ 204,334 $ 269,696 $ 343,679 $ 6,836 $ 9,188 $11,423 3.35% 3.41% 3.32%
Total interest-bearing liabilities $1,363,109 $1,398,773 $1,483,952 $16,177 $20,612 $24,209 1.19% 1.47% 1.63%
Demand deposits in U.S. offices $ 21,948 $ 13,170 $ 16,410
Other non-interest-bearing liabilities (8) 299,052 311,529 275,409
Total liabilities from discontinued operations 362 729 485
Total liabilities $1,684,471 $1,724,201 $1,776,256
Citigroup stockholders’ equity (12) $ 196,884 $ 184,592 $ 174,351
Noncontrolling interest 1,941 1,906 2,029
Total equity (12) $ 198,825 $ 186,498 $ 176,380
Total liabilities and stockholders’ equity $1,883,296 $1,910,699 $1,952,636
Net interest revenue as a percentage of average
interest-earning assets (13)
In U.S. offices $ 926,291 $ 941,367 $ 971,785 $25,591 $24,586 $26,022 2.76% 2.61% 2.68%
In offices outside the U.S.(6) 731,570 731,463 738,101 21,723 22,642 22,147 2.97 3.10 3.00
Total $1,657,861 $1,672,830 $1,709,886 $47,314 $47,228 $48,169 2.85% 2.82% 2.82%
(1) Net interest revenue includes the taxable equivalent adjustments (based on the U.S. federal statutory tax rate of 35%) of $521 million, $542 million and $520 million for 2013, 2012 and 2011, respectively.
(2) Interest rates and amounts include the effects of risk management activities associated with the respective asset and liability categories.
(3) Monthly or quarterly averages have been used by certain subsidiaries where daily averages are unavailable.
(4) Detailed average volume, Interest revenue and Interest expense exclude Discontinued operations. See Note 2 to the Consolidated Financial Statements.
(5) Consists of other time deposits and savings deposits. Savings deposits are made up of insured money market accounts, NOW accounts, and other savings deposits. The interest expense on savings deposits includes
FDIC deposit insurance fees and charges.
(6) Average rates reflect prevailing local interest rates, including inflationary effects and monetary corrections in certain countries.
(7) 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).
(8) The fair value carrying amounts of derivative contracts are reported net, pursuant to FIN 39 (ASC 815-10-45), in Non-interest-earning assets and Other non-interest-bearing liabilities.
(9) 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.
(10) Includes Brokerage payables.
(11) Excludes hybrid financial instruments and beneficial interests in consolidated VIEs that are classified as Long-term debt, as these obligations are accounted for in changes in fair value recorded in Principal transactions.
(12) Includes stockholders’ equity from discontinued operations.
(13) Includes allocations for capital and funding costs based on the location of the asset.