Citibank 2014 Annual Report Download - page 205

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The following tables present the gross and net resale and repurchase
agreements and securities borrowing and lending agreements and the related
offsetting amount permitted under ASC 210-20-45, as of December 31, 2014
and December 31, 2013. The tables also include amounts related to financial
instruments that are not permitted to be offset under ASC 210-20-45 but
would be eligible for offsetting to the extent that an event of default occurred
and a legal opinion supporting enforceability of the offsetting rights has
been obtained. Remaining exposures continue to be secured by financial
collateral, but the Company may not have sought or been able to obtain a
legal opinion evidencing enforceability of the offsetting right.
As of December 31, 2014
In millions of dollars
Gross amounts
of recognized
assets
Gross amounts
offset on the
Consolidated
Balance Sheet (1)
Net amounts of
assets included on
the Consolidated
Balance Sheet (2)
Amounts not offset on the
Consolidated Balance Sheet
but eligible for offsetting
upon counterparty default (3)
Net
amounts (4)
Securities purchased under agreements to resell $180,318 $56,339 $123,979 $ 94,353 $ 29,626
Deposits paid for securities borrowed 118,591 — 118,591 15,139 103,452
Total $298,909 $56,339 $242,570 $109,492 $133,078
In millions of dollars
Gross amounts
of recognized
liabilities
Gross amounts
offset on the
Consolidated
Balance Sheet (1)
Net amounts of
liabilities included
on the Consolidated
Balance Sheet (2)
Amounts not offset on the
Consolidated Balance Sheet
but eligible for offsetting
upon counterparty default (3)
Net
amounts (4)
Securities sold under agreements to repurchase $203,543 $56,339 $147,204 $72,928 $74,276
Deposits received for securities loaned 25,900 — 25,900 5,190 20,710
Total $229,443 $56,339 $173,104 $78,118 $94,986
As of December 31, 2013
In millions of dollars
Gross amounts
of recognized
assets
Gross amounts
offset on the
Consolidated
Balance Sheet (1)
Net amounts of
assets included on
the Consolidated
Balance Sheet (2)
Amounts not offset on the
Consolidated Balance Sheet
but eligible for offsetting upon
counterparty default (3)
Net
amounts (4)
Securities purchased under agreements to resell $179,894 $43,245 $136,649 $105,226 $ 31,423
Deposits paid for securities borrowed 120,368 — 120,368 26,728 93,640
Total $300,262 $43,245 $257,017 $131,954 $125,063
In millions of dollars
Gross amounts
of recognized
liabilities
Gross amounts
offset on the
Consolidated
Balance Sheet (1)
Net amounts of
liabilities included
on the Consolidated
Balance Sheet (2)
Amounts not offset on the
Consolidated Balance Sheet
but eligible for offsetting upon
counterparty default (3)
Net
amounts (4)
Securities sold under agreements to repurchase $218,936 $43,245 $175,691 $80,082 $ 95,609
Deposits received for securities loaned 26,911 — 26,911 3,833 23,078
Total $245,847 $43,245 $202,602 $ 83,915 $118,687
(1) Includes financial instruments subject to enforceable master netting agreements that are permitted to be offset under ASC 210-20-45.
(2) The total of this column for each period excludes Federal funds sold/purchased. See table above.
(3) Includes financial instruments subject to enforceable master netting agreements that are not permitted to be offset under ASC 210-20-45 but would be eligible for offsetting to the extent that an event of default has
occurred and a legal opinion supporting enforceability of the offsetting right has been obtained.
(4) Remaining exposures continue to be secured by financial collateral, but the Company may not have sought or been able to obtain a legal opinion evidencing enforceability of the offsetting right.