Citibank 2013 Annual Report Download - page 56

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LIABILITIES
Deposits
For a discussion of Citi’s deposits, see “Managing Global Risk —Market
Risk—Funding and Liquidity” below.
Federal Funds Purchased and Securities Loaned or Sold
Under Agreements to Repurchase (Repos)
Federal funds purchased consist of unsecured advances of excess balances
in reserve accounts held at the Federal Reserve Bank from third parties. For
the full year and fourth quarter of 2013, Citi’s federal funds purchased were
not significant.
For further information on Citi’s secured financing transactions, see
“Managing Global Risk—Market Risk—Funding and Liquidity” below.
See also Note 11 to the Consolidated Financial Statements for additional
information on these balance sheet categories.
Trading Account Liabilities
During the fourth quarter of 2013, Trading account liabilities decreased by
11%, due to lower inventory in Securities and Banking businesses, which
was aligned with the corresponding decrease in reverse repos and trading
account assets discussed above. Average Trading account liabilities were
$66 billion, compared to $71 billion in the third quarter of 2013, primarily
due to lower average Securities and Banking volumes.
For further information on Citi’s Trading account liabilities, see Note 13
to the Consolidated Financial Statements.
Debt
For further information on Citi’s long-term and short-term debt borrowings,
see “Managing Global Risk—Market Risk—Funding and Liquidity” below
and Note 18 to the Consolidated Financial Statements.
Other Liabilities
Other liabilities consist of brokerage payables and other liabilities
(including, among other items, accrued expenses and other payables,
deferred tax liabilities, certain end-user derivatives in a net payable position,
and reserves for legal claims, taxes, repositioning, unfunded lending
commitments, and other matters).
During 2013, Other liabilities decreased 10%, primarily due to a decrease
in brokerage payables and normal business fluctuations.