Exhibit 99.3
Summary of Press Release Disclosed Items
Net Income Impact ($MM)
Global Consumer | ||||||||
Cards | — | $ | 365 | (5) | ||||
Consumer Finance | — | — | ||||||
Retail Banking | $ | (4)(1) | 79 | (6) | ||||
Other | — | — | ||||||
Global Corporate & Investment Banking | ||||||||
Capital Markets and Banking | 98 | (2) | 273 | (7) | ||||
(234 | )(3) | |||||||
Transaction Services | 23 | (4) | 29 | (8) | ||||
Other | — | — | ||||||
Global Wealth Management | ||||||||
Private Client Services | — | — | ||||||
Private Bank | — | (235 | )(9) | |||||
Global Investment Management | ||||||||
Life Insurance & Annuities | — | — | ||||||
Asset Management | — | (130 | )(10) | |||||
Proprietary Investment Activities | — | 9 | (11) | |||||
Cororate/Other | — | — |
- (1)
- Parmalat credit costs of $(6) pre-tax ($(4) after-tax) in Retail Banking
- (2)
- Release of corporate reserve for credit losses to reflect continued improvement in credit quality of $156 pre-tax ($98 after-tax) in CM&B
- (3)
- Parmalat credit costs of $(338) pre-tax ($(220) after-tax) and trading losses of $(21) pre-tax ($(14) after-tax) in CM&B
- (4)
- Parmalat credit costs of $(7) pre-tax ($(5) after-tax) and release of corporate reserve for credit losses to reflect continued improvement in credit quality of $44 pre-tax ($28 after-tax) in GTS
- (5)
- Release of reserve for credit losses to reflect continued improvement in credit quality of $419 pre-tax ($268 after-tax), tax benefit for expected utilization of foreign tax credits of $70 and gain on sale of Orbitall of $42 pre-tax ($27 after-tax) in Cards
- (6)
- Release of reserve for credit losses to reflect continued improvement in credit quality of $36 pre-tax ($22 after-tax) and tax benefit for expected utilization of foreign tax credits of $57 in Retail Banking
- (7)
- Release of reserve for credit losses to reflect continued improvement in credit quality of $131 pre-tax ($82 after-tax), legal insurance recovery of $200 pre-tax ($120 after-tax) and tax benefit for expected utilization of foreign tax credits of $71 in CM&B
- (8)
- Release of reserve for credit losses to reflect continued improvement in credit quality of $19 pre-tax ($12 after-tax) and tax benefit for expected utilization of foreign tax credits of $17 in GTS
- (9)
- Charge of $(400) pre-tax ($(244) after-tax) related to closing the Japan Private Bank and tax benefit for expected utilization of foreign tax credits of $9
- (10)
- Reserve relating to transfer agency matters of $(171) pre-tax ($(131) after-tax) and tax benefit for expected utilization of foreign tax credits of $1 in Asset Management
- (11)
- Tax benefit for expected utilization of foreign tax credits of $9 in Proprietary Investment Activities
31