Citibank 2014 Annual Report Download - page 51

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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 unconsolidated
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 special
purpose entities;
•฀ providing guarantees, indemnifications, loan commitments, letters of
credit and representations and warranties; and
•฀ entering into operating leases for property and equipment.
Citi enters into these arrangements for a variety of business purposes. For
example, securitization arrangements offer investors access to specific cash
flows and risks created through the securitization process. Securitization
arrangements also assist Citi and Citi’s customers in monetizing their
financial assets and securing financing at more favorable rates than Citi or
the customers could otherwise obtain.
The table below shows where a discussion of Citi’s various off-balance
sheet arrangements may be found in this Form 10-K. In addition, see 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.
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.
Leases See Note 27 to the Consolidated
Financial Statements.
OFF-BALANCE SHEET ARRANGEMENTS