v3.25.2
DEBT
 6 Months Ended
Jun. 30, 2025
Debt Disclosure [Abstract]  
DEBT DEBT
For additional information regarding Citi’s short-term borrowings and long-term debt, see Note 19 to the Consolidated Financial Statements in Citi’s 2024 Form 10-K.

Short-Term Borrowings

In millions of dollarsJune 30,
2025		December 31,
2024
Commercial paper
Bank(1)
$13,035 $15,127 
Broker-dealer and other(2)
9,297 13,789 
Total commercial paper$22,332 $28,916 
Other borrowings(3)
33,228 19,589 
Total$55,560 $48,505 

(1)Represents Citibank entities as well as other bank entities.
(2)Represents broker-dealer and other non-bank subsidiaries that are consolidated into Citigroup Inc., the parent holding company.
(3)Includes borrowings from Federal Home Loan Banks and other market participants. At June 30, 2025 and December 31, 2024, collateralized short-term advances from Federal Home Loan Banks were $9.0 billion and $5.0 billion, respectively.
Long-Term Debt

In millions of dollarsJune 30,
2025		December 31, 2024
Citigroup Inc.(1)
$173,516 $164,024 
Bank(2)
43,513 35,470 
Broker-dealer and other(3)
100,732 87,806 
Total$317,761 $287,300 

(1)Represents the parent holding company.
(2)Represents Citibank entities as well as other bank entities. At June 30, 2025 and December 31, 2024, collateralized long-term advances from the Federal Home Loan Banks were $6.5 billion and $8.5 billion, respectively.
(3)Represents broker-dealer and other non-bank subsidiaries that are consolidated into Citigroup Inc., the parent holding company. Certain Citigroup consolidated hedging activities are also included in this line.

Long-term debt outstanding includes trust preferred securities with a balance sheet carrying value of $1.6 billion at June 30, 2025 and December 31, 2024.






The following table summarizes Citi’s outstanding trust preferred securities at June 30, 2025:

      Junior subordinated debentures owned by trust
TrustIssuance
date		Securities
issued
Liquidation
value(1)
Coupon
rate(2)
Common
shares
issued
to parent		Notional amountMaturityRedeemable
by issuer
beginning
In millions of dollars, except securities and share amounts
Citigroup Capital IIIDec. 1996194,053 $194 7.625 %6,003 $200 Dec. 1, 2036Not redeemable
Citigroup Capital XIIIOct. 201089,840,000 2,246 
3 mo. SOFR +663.161 bps(3)
1,000 2,246 Oct. 30, 2040Oct. 30, 2015
Total obligated  $2,440  $2,446   

Note: Distributions on the trust preferred securities and interest on the subordinated debentures are payable semiannually for Citigroup Capital III and quarterly for Citigroup Capital XIII.
(1)Represents the notional value received by outside investors from the trusts at the time of issuance. This differs from Citi’s balance sheet carrying value due primarily to unamortized discount and issuance costs.
(2)In each case, the coupon rate on the subordinated debentures is the same as that on the trust preferred securities.
(3)The spread incorporates the original contractual spread and a 26.161 bps tenor spread adjustment.