Citibank 2011 Annual Report Download - page 171
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The incremental impact of these changes on GAAP assets and resulting
risk-weighted assets for those VIEs and former QSPEs that were consolidated
or deconsolidated for accounting purposes as of January 1, 2010 was
as follows:
æIncremental
In billions of dollars
GAAP
assets
Risk-
weighted
assets
(1)
Impact of consolidation
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3UBTOTAL
Impact of deconsolidation
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Total
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The following table reflects the incremental impact of adopting SFAS
166/167 on Citigroup’s GAAP assets, liabilities, and stockholders’ equity.
In billions of dollars *ANUARYææ
Assets
4RADINGæACCOUNTæASSETS
)NVESTMENTS
,OANS
!LLOWANCEæFORæLOANæLOSSES
/THERæASSETS
Total assets
Liabilities
3HORTTERMæBORROWINGS
,ONGTERMæDEBT
/THERæLIABILITIES
Total liabilities
Stockholders’ equity
2ETAINEDæEARNINGS
Total stockholders’ equity
Total liabilities and stockholders’ equity
The preceding tables reflect: (i) the portion of the assets of former QSPEs
to which Citigroup, acting as principal, had transferred assets and received
sales treatment prior to January 1, 2010 (totaling approximately $712.0
billion), and (ii) the assets of significant VIEs as of January 1, 2010 with
which Citigroup was involved (totaling approximately $219.2 billion) that
were previously unconsolidated and are required to be consolidated under the
new accounting standards. Due to the variety of transaction structures and
the level of Citigroup’s involvement in individual former QSPEs and VIEs,
only a portion of the former QSPEs and VIEs with which the Company was
involved were required to be consolidated.
In addition, the cumulative effect of adopting these new accounting
standards as of January 1, 2010 resulted in an aggregate after-tax charge
to Retained earnings of $8.4 billion, reflecting the net effect of an overall
pretax charge to Retained earnings (primarily relating to the establishment
of loan loss reserves and the reversal of residual interests held) of $13.4
billion and the recognition of related deferred tax assets amounting to
$5.0 billion.