Tuesday, February 26, 2008

Citi Q4

exposure --$37.3 bil direct net exposure ($8 bil subprime in lending and structuring business, $29 bil super senior CDO) --$967 bil adjustment in exposure to monoline --$43 bil leverage loan ($22 bil funded, $21 unfunded), $1.5 bil loss --$20 bil commercial real estate, level 3 --credit for Falcon funds increased asset by 10 bil --of $121.8 bil consolidated VIE, $58.5 bil are SIVs and $22.3 bil are CDOs --incurred $22.1 billion in losses from the subprime crisis, has $320 billion in ``significant unconsolidated VIEs,'' --expecct broad asset sale, either prime mortgage loan book or retail banks --rising credit cost due to market deterioration --growth from overseas except Japan

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