Citigroup Q3 2009

--sale of Simith Barney impacted revenue by $11.1 bil. --set aside tiny amount for credit reserve, compared to >$3 bil in Q2 and in the past --CVA of liability dented > $1 bil revenue. --Citigroup revenues were $20.4 billion, down from $30.0 billion in the prior quarter, which included an $11.1 billion gain from the Smith Barney transaction --Citicorp revenues were $13.0 billion, down from $15.0 billion in the prior quarter. Mainly caused by Credit Value Adjustment of its liabilites. --Citi Holdings revenues were $6.7 billion versus $15.8 billion in the prior quarter, which included the $11.1 billion gain from the Smith Barney transaction. --Citigroup’s credit costs of $9.1 billion included net credit losses of $8.0 billion --Citigroup’s loan loss reserve build for the quarter was $3.1 billion lower than the prior quarter --allowance almost unchanged from 35.9 bil to 35.4 bil in Q3 2009 --nonperforming assets in Q2 2009 was 28.2 bil