Citibank Credit Card Issuance Trust

12/16/2024 | Press release | Distributed by Public on 12/16/2024 13:01

Asset Backed Issuer Distribution Report (Form 10 D)

CITIBANK, N.A.

CITIBANK CREDIT CARD ISSUANCE TRUST / CITIBANK CREDIT CARD MASTER TRUST I

For the Due Period Ending November 25, 2024

This Report relates to the Due Period ending November 25, 2024 and the related Payment Dates for the Notes.

A.

Information Regarding the Master Trust portfolio

1. Portfolio Yield for the Collateral Certificate

19.91 %

Yield Component

22.31 %

Credit Loss Component

2.40 %

2. New Purchase Rate

33.65 %

3. Total Payment Rate

34.06 %

4. Principal Payment Rate

33.95 %

5. Aggregate Amount of Principal Receivables in the Trust :

Principal Receivables Beginning of Due Period

$ 21,735,188,589

Principal Receivables Average

$ 21,672,346,725

Principal Receivables Lump Sum Addition/(Removal)

$ 0

Principal Receivables End of Due Period

$ 21,813,120,572

Finance Charge Receivables-End of Due Period

$ 682,408,743

6. Delinquency (1)

Current

$ 21,610,240,640

   1-30 days delinquent

$ 272,658,160

  31-60 days delinquent

$ 92,825,747

 61-90 days delinquent

$ 74,973,909

91-120 days delinquent

$ 61,197,825

121-150 days delinquent

$ 56,686,174

151-180 days delinquent

$ 52,156,931

Current

97.24 %

   1-30 days delinquent

1.23 %

  31-60 days delinquent

0.42 %

 61-90 days delinquent

0.34 %

91-120 days delinquent

0.28 %

121-150 days delinquent

0.26 %

151-180 days delinquent

0.23 %
(1)

Shown are (i) the aggregate dollar amount of Receivables that were current or were delinquent for each of the time periods listed and (ii) that were current or were delinquent for each of the time periods listed as a percentage of the aggregate dollar amount of Receivables. Accounts and the related Receivables are serviced on multiple servicing platforms. Delinquency data shown for Receivables related to some Accounts is as of the last business day of the same month as the last day of the Due Period and delinquency data shown for Receivables related to other Accounts is as of the last full weekend of the same month as the last day of the Due Period. Thus, the dollar amounts and percentages of Receivables that were current or were delinquent for each of the time periods listed includes aggregated amounts as of more than one date, including the aggregate dollar amount of Receivables used to determine the percentage shown.

Page 1

CITIBANK, N.A.

CITIBANK CREDIT CARD ISSUANCE TRUST / CITIBANK CREDIT CARD MASTER TRUST I

For the Due Period Ending November 25, 2024

Current Due
Period on an
Actual Basis (1)
Current Due
Period on a
Standard Basis (1)

B.

Information Regarding the Collateral Certificate

(Percentage Basis)

1. Portfolio Yield

19.91 % 19.91 %

2. Weighted Average Interest Rate (2)

5.20 % 5.20 %

3. Weighted Average Investor Fee Rates

Fixed Servicing Fee

0.37 % 0.37 %

Others

0.00 % 0.00 %

4. Surplus Finance Charge Collections

14.34 % 14.34 %

5. Surplus Finance Charge Collections For Purposes of Funding Class C Reserve Account

14.20 % 14.20 %

6. Required Surplus Finance Charge Amount

0.00 % 0.00 %

7. Aggregate Surplus Finance Charge Amount minus Required Surplus Finance Charge Amount

14.34 % 14.34 %

C1.

Information Regarding the Collateral Certificate
(Dollars Basis)

1. Total Investor Collections

$ 2,072,770,504 $ 2,072,770,504

Principal Collections

$ 1,973,996,855 $ 1,973,996,855

Finance Charge Collections

$ 98,773,649 $ 98,773,649

2. Investor Default Amount

$ 10,659,553 $ 10,659,553

3. Targeted Deposit to Interest Funding Account (3)

$ 25,310,733 $ 25,310,733

4. Investor Monthly Fees

Fixed Servicing Fees

$ 1,792,958 $ 1,792,958

Others

$ 2,000 $ 2,000

5. Surplus Finance Charge Collections

$ 61,008,405 $ 61,008,405

6. Required Surplus Finance Charge Collections

$ 0 $ 0

7. Aggregate Surplus Finance Charge Amount minus Required Surplus Finance Charge Amount

$ 61,008,405 $ 61,008,405
(1)

Values for "Current Due Period on an Actual Basis" reflect, in the case of a first due period close of a tranche of Notes, activity from the close date until the first due period end, or, as in the case of Targeted Deposit to Interest Funding Account and certain fees, until the first Monthly Interest Date. Values for "Current Due Period on a Standard Basis" reflect activity for the entire current period, as if all Notes had already been outstanding prior to the first day of such period. All percentages are based on actual cash revenue or expense for the period, converted to an annualized percent using day count appropriate for the item, either 30/360, actual/360, or actual/actual. Depending on the item, cash expenses may accrue from October 29, 2024 to November 25, 2024, 28 days, or November 7, 2024 to December 8, 2024, 32 days (standard basis).

(2)

Defined in the definition section of the Indenture

(3)

Referenced in sections 501 and 503 of the Indenture

Page 2

CITIBANK, N.A.

CITIBANK CREDIT CARD ISSUANCE TRUST / CITIBANK CREDIT CARD MASTER TRUST I

For the Due Period Ending November 25, 2024

C2.

Information Regarding the Sellers' Participation Amount, Seller's Interest and Regulation RR sellers' interest in Securities percentage.

1. Sellers' Participation Amount on the last day of the prior Due Period $ 15,696,448,323
2. Sellers' Participation Amount on the last day of the Due Period $ 15,774,380,306
3. Seller's Interest (1) 72.32 %
4. Regulation RR sellers' interest percentage on the last day of the Due Period (2) 271.27 %
(1)

The Seller's Interest percentage is calculated by dividing the Sellers' Participation Amount as of the close of business on the last day of the Due Period, by the aggregate amount of Principal Receivables as of such day. Citibank, N.A., as originator for the purposes of certain risk retention rules of the European Union, currently retains a material net economic interest that is not less than five percent of the nominal value of the securitized exposure, which interest is not subject to any credit risk mitigation, short position or other hedge, except to the extent permitted by certain risk retention rules of the EuropeanUnion.

(2)

The Regulation RR seller's interest percentage is calculated by dividing the Sellers' Participation Amount as of the close of business on the last day of the Due Period, by the aggregate Outstanding Dollar Principal Amount of Citiseries Notes as of such day.

C3.

Information Regarding the Series 2009 Credit Card Participation Certificate*

1.

Series 2009 Invested Amount as of the end of the Due Period**

$ 223,740,266
2.

Required Subordinated Amount as of the end of the Due Period**

$ 223,740,266
3.

Series 2009 Reallocated Principal Collections for the current Due Period***

$ 0
4.

Series 2009 Reallocated Principal Collections for all prior Due Periods

$ 0
*

The Series 2009 Credit Card Participation Certificate, issued on May 1, 2009, provides credit enhancement to the Collateral Certificate. For more information, see Form 8-Ks filed with the SEC on May 5, 2009 and November 3, 2017 by Citibank Credit Card Issuance Trust.

**

The Series 2009 Invested Amount and Required Subordinated Amount are variable, and each amount currently equals 3.84764% of the Invested Amount of the Collateral Certificate.

***

This amount is included in Finance Charge Collections for the Collateral Certificate. See Section C1, line item 1 on Preceding Page.

Page 3

CITIBANK, N.A.

CITIBANK CREDIT CARD ISSUANCE TRUST / CITIBANK CREDIT CARD MASTER TRUST I

For the Due Period Ending November 25, 2024

D. 

Information Regarding Notes of Citiseries
(The information reported is for the Due Period ending November 25, 2024 and giving effect to all deposits, allocations, reallocations and payments to be made in the month after the end of this Due Period.)
(Aggregate Basis)

1a.

Class A Outstanding Dollar Principal Amount $ 4,330,000,000

1b.

Class B Outstanding Dollar Principal Amount $ 630,000,000

1c.

Class C Outstanding Dollar Principal Amount $ 855,000,000

2a.

Targeted Deposit to Class A Interest Funding Account $ 18,241,410

2b.

Targeted Deposit to Class B Interest Funding Account $ 2,853,119

2c.

Targeted Deposit to Class C Interest Funding Account $ 4,216,204

3a.

Balance in the Class A Interest Funding Account $ 55,606,565

3b

Balance in the Class B Interest Funding Account $ 2,853,119

3c

Balance in the Class C Interest Funding Account $ 4,216,204

4a.

Targeted Deposit to Class A Principal Funding Account $ 0

4b.

Targeted Deposit to Class B Principal Funding Account $ 0

4c.

Targeted Deposit to Class C Principal Funding Account $ 0

5a.

Balance in the Class A Principal Funding Account $ 0

5b.

Balance in the Class B Principal Funding Account $ 0

5c.

Balance in the Class C Principal Funding Account $ 0

6.

Targeted Deposit to Class C Reserve Account $ 0

7.

Balance in the Class C Reserve Account $ 0

8a.

Maximum enhancement amount available to Outstanding Class A Notes from Class B Notes $ 259,060,003

8b.

As a Percentage of Class A Outstanding Dollar Principal Amount 5.98291 %

8c.

Maximum enhancement amount available to Outstanding Class A Notes from Class C Notes $ 345,413,193

8d.

As a Percentage of Class A Outstanding Dollar Principal Amount 7.97721 %

8e.

Maximum enhancement amount available to Outstanding Class B Notes from Class C Notes $ 839,999,979

8f.

As a Percentage of Class B Outstanding Dollar Principal Amount 133.33333 %

Page 4

CITIBANK, N.A.

CITIBANK CREDIT CARD ISSUANCE TRUST / CITIBANK CREDIT CARD MASTER TRUST I

For the Due Period Ending November 25, 2024

9a. Reduction in the Class A Nominal Liquidation Amount resulting from an allocation of Investor Charge-Offs

$ 0

9b.  Reduction in the Class B Nominal Liquidation Amount resulting from an allocation of Investor Charge-Offs or a reallocation of Principal Collections to pay interest on Class A Notes

$ 0

9c.   Reduction in the Class C Nominal Liquidation Amount resulting from an allocation of Investor Charge-Offs or a reallocation of Principal Collections to pay interest on Class A or Class B Notes

$ 0

10a.  Reimbursement of Class A Nominal Liquidation Amount

$ 0

10b. Reimbursement of Class B Nominal Liquidation Amount

$ 0

10c.  Reimbursement of Class C Nominal Liquidation Amount

$ 0
E.

Information Regarding Distributions to Noteholders of Citiseries

(The information reported is for the Due Period ending November 25, 2024 and giving effect to all deposits, allocations, reallocations and payments to be made in the month after the end of this Due Period.)

(Aggregate Basis)

1a.   The total amount of the distribution to Class A Noteholders on the applicable Payment Dates

$ 49,006,565

1b.  The total amount of the distribution to Class B Noteholders on the applicable Payment Dates

$ 2,853,119

1c.   The total amount of the distribution to Class C Noteholders on the applicable Payment Dates

$ 4,216,204

2a.   The amount of the distribution set forth in item 1(a) above in respect of principal on the Class A Notes

$ 0

2b.  The amount of the distribution set forth in item 1(b) above in respect of principal on the Class B Notes

$ 0

2c.   The amount of the distribution set forth in item 1(c) above in respect of principal on the Class C Notes

$ 0

3a.   The amount of the distribution set forth in item 1(a) above in respect of interest on the Class A Notes

$ 49,006,565

3b.  The amount of the distribution set forth in item 1(b) above in respect of interest on the Class B Notes

$ 2,853,119

3c.   The amount of the distribution set forth in item 1(c) above in respect of interest on the Class C Notes

$ 4,216,204

4a.   The amount, if any, by which the Adjusted Outstanding Dollar Principal Amount of the Class A Notes exceeds the Class A Nominal Liquidation Amount as of the Record Date with respect to the applicable Payment Dates

$ 0

4b.  The amount, if any, by which the Adjusted Outstanding Dollar Principal Amount of the Class B Notes exceeds the Class B Nominal Liquidation Amount as of the Record Date with respect to the applicable Payment Dates

$ 0

4c.   The amount, if any, by which the Adjusted Outstanding Dollar Principal Amount of the Class C Notes exceeds the Class C Nominal Liquidation Amount as of the Record Date with respect to the applicable Payment Dates

$ 0

Page 5

CITIBANK, N.A.

CITIBANK CREDIT CARD ISSUANCE TRUST / CITIBANK CREDIT CARD MASTER TRUST I

For the Due Period Ending November 25, 2024

F.

Information Regarding Notes of Citiseries

(The information reported is for the Due Period ending November 25, 2024 and giving effect to all deposits, allocations, reallocations and payments to be made in the month after the end of this Due Period.)

(Individual Tranche Basis)

1a.

Outstanding Dollar Principal Amount, Interest Payments and Deposits to Interest Funding Sub-Accounts

Class/Tranche

Outstanding Dollar
Principal Amount
Monthly
Accretion
Targeted
Deposit to
the
Interest Funding
Account(1)
Actual
Deposit to
the
Interest
Funding
Account
Cumulative
Shortfall
In Interest
Funding
Sub-
Account
Interest
Funding
Sub-Account
Balance(2)
Interest
Payment
On Payment
Date(3)

Class 2007-A3

$ 665,000,000.00 $ 0.00 $ 2,863,801.44 $ 2,863,801.44 $ 0.00 $ 0.00 $ 20,448,750.00

Class 2007-A4

15,000,000.00 0.00 70,502.40 70,502.40 0.00 0.00 206,958.65

Class 2017-A6

775,000,000.00 0.00 3,783,494.89 3,783,494.89 0.00 0.00 3,783,494.89

Class 2018-A5

375,000,000.00 0.00 1,784,853.33 1,784,853.33 0.00 0.00 1,784,853.33

Class 2018-A7

1,000,000,000.00 0.00 3,300,000.00 3,300,000.00 0.00 6,600,000.00 0.00

Class 2023-A1

750,000,000.00 0.00 3,268,750.00 3,268,750.00 0.00 0.00 19,612,500.00

Class 2023-A2

750,000,000.00 0.00 3,170,008.13 3,170,008.13 0.00 0.00 3,170,008.13

Class 2023-B1

225,000,000.00 0.00 1,061,564.94 1,061,564.94 0.00 0.00 1,061,564.94

Class 2023-B2

315,000,000.00 0.00 1,397,378.41 1,397,378.41 0.00 0.00 1,397,378.41

Class 2023-C1

305,000,000.00 0.00 1,574,142.19 1,574,142.19 0.00 0.00 1,574,142.19

Class 2023-C2

425,000,000.00 0.00 2,046,261.55 2,046,261.55 0.00 0.00 2,046,261.55

Class 2024-B1

90,000,000.00 0.00 394,175.98 394,175.98 0.00 0.00 394,175.98

Class 2024-C1

125,000,000.00 0.00 595,799.97 595,799.97 0.00 0.00 595,799.97

Total

$ 5,815,000,000.00 $ 0.00 $ 25,310,733.23 $ 25,310,733.23 $ 0.00 $ 6,600,000.00 $ 56,075,888.04
(1)

Referenced in sections 501 and 503 of the Indenture

(2)

The Interest Funding Sub-Account Balance reflects the Trust Targeted Deposit to the Interest Funding Account and net settlement of any U.S. dollar-denominated swap.

(3)

For Notes denominated in US dollars this column represents the Note coupon payment to investors on the related Payment Date. For Notes not denominated in U.S. dollars this column represents the currency swap payment to the counterparty on the related Swap Payment Date.

Page 6

CITIBANK, N.A.

CITIBANK CREDIT CARD ISSUANCE TRUST / CITIBANK CREDIT CARD MASTER TRUST I

For the Due Period Ending November 25, 2024

1b.

Outstanding Dollar Principal Amount and Investor Interest Payments

Class/Tranche

Outstanding
Dollar
Principal
Amount
Investor
Interest
Rate
Fixed/
Floating
Investor
Interest
PMT
Frequency
Payment
Date(1)

Monthly
Interest
Accrual
Period
(3)

Investor's
Current
Period
Interest
Rate
Investor's
Interest PMT On
Pmt Date (2)
SWAP
Yes/
No
Expected
Principal
Payment
Date
Legal
Maturity
Date

Class 2007-A3

$ 665,000,000.00 Fixed Jun, Dec 15 15 - 15 6.15000 $ 20,448,750.00 Yes 06/15/2037 06/15/2039

Class 2007-A4

15,000,000.00 Floating Sep, Dec, Mar, Jun 15 15 - 16 5.45825 206,958.65 No 06/15/2037 06/15/2039

Class 2017-A6

775,000,000.00 Floating Monthly 14 14 - 16 5.49217 3,783,494.89 No 05/14/2027 05/14/2029

Class 2018-A5

375,000,000.00 Floating Monthly 7 7 - 9 5.35456 1,784,853.33 No 08/07/2025 08/09/2027

Class 2018-A7

1,000,000,000.00 Fixed April, October 13 13 - 13 3.96000 0.00 No 10/13/2028 10/15/2030

Class 2023-A1

750,000,000.00 Fixed June, December 8 8 - 8 5.23000 19,612,500.00 No 12/08/2025 12/08/2027

Class 2023-A2

750,000,000.00 Floating Monthly 8 4 - 3 (4) 5.24691 3,170,008.13 No 12/08/2025 12/08/2027

Total

$ 4,330,000,000.00 $49,006,565.00
(1)

If the Payment Date is not a Business Day, then the Payment Date will be the succeeding Business Day.

(2)

The record date for payment of the notes is the last day of the month before the related payment date.

(3)

For a newly issued class of notes, interest begins to accrue on the issuance date of that class.

(4)

Notes utilizing Compounded SOFR accrue interest on an actual/360 basis during each Interest Period from and including the day following the prior Interest Period End Date to and including the current Interest Period End Date. Interest Period End Date means the third calendar day of each month, or if such day is not a Business Day, the next following Business Day.

2a.

Information Regarding the Sponsor's or Affiliates' Interest in Securities during the Due Period. Citiseries Notes Held by the Sponsor or an Affiliate.

Outstanding Dollar Principal Outstanding Dollar Principal
Amount as of the Last Day of Amount as of the Last Day of
Class/Tranche Previous Due Period Current Due Period

Class 2023-B1

$   225,000,000.00 $ 225,000,000.00

Class 2023-B2

315,000,000.00 315,000,000.00

Class 2024-B1

90,000,000.00 90,000,000.00

Class 2023-C1

305,000,000.00 305,000,000.00

Class 2023-C2

425,000,000.00 425,000,000.00

Class 2024-C1

125,000,000.00 125,000,000.00

Total

$    1,485,000,000.00 $ 1,485,000,000.00
Net increase or (decrease) in
Outstanding Dollar Principal
Amount from the previous Due Period $ 0.00
2b.

Principal Payments and Deposits to Principal Funding Sub-Accounts for all Deals.

Class/Tranche

Targeted
Principal
Monthly
Deposit
Actual
Principal
Monthly
Deposit
Cumulative
Shortfall in
Principal
Funding
Sub-Account
Principal
Funding
Sub-Account
Balance
Principal
Payment On
Payment Date

Nothing to report for this period.

Page 7

CITIBANK, N.A.

CITIBANK CREDIT CARD ISSUANCE TRUST / CITIBANK CREDIT CARD MASTER TRUST I

For the Due Period Ending November 25, 2024

3a.

Funding the Class 'C' Reserve Sub-Accounts

1)  3 Month Average Surplus Finance Charge Collections for purposes of Funding the Class C Reserve Sub-Accounts

14.12 %

2)  Is the 3 Month Average Surplus Finance Charge Collections for purposes of Funding the Class C Reserve Sub-Accounts less than or equal to 4.50%

No

3b.  Deposits to and Withdrawals from Class C Reserve Sub-Accounts

Class/Tranche

Targeted
Deposit to
Class C
Reserve
Sub-Account
Class C
Reserve
Sub-Account
Ending
Balance as of
Prior Due Period
Actual
Deposit to
Class C
Reserve
Sub-Account
Withdrawals
from Class C
Reserve
Sub-Account
Class C
Reserve
Sub-Account
Ending
Balance
Cumulative
Shortfall in
Class C
Reserve
Sub-Account

Nothing to report for this period.

3c.   Actual Deposits by Source to Class C Reserve Sub-Accounts

Class/Tranche

Surplus
Finance
Charge
Collections
Withdrawals
Treated as Finance
Charge Collections
Total
Finance
Charge
Collections
Required
Funding resulting
From New
Issuance of Notes
Total
Actual
Deposits

Nothing to report for this period.

3d.  Withdrawals from Class C Reserve Sub-Accounts

Class/Tranche

Release of Funds
In excess of
Targeted
Amount
Release of funds in
Class C Reserve
Sub-Account
Due to Maturity
Utilization Total
Actual
Withdrawals

Nothing to report for this period.

Page 8

CITIBANK, N.A.

CITIBANK CREDIT CARD ISSUANCE TRUST / CITIBANK CREDIT CARD MASTER TRUST I

For the Due Period Ending November 25, 2024

4.

Maximum Enhancement Amount Available to Class A Notes; Class A Usage of Class B and Class C Subordinated Amounts

Class/Tranche

Maximum
Enhancement
Amount
Available
from Class B
Notes
Maximum
Enhancement
Amount
Available
from Class C
Notes
Class A
Usage of
Class B
Subordinated
Amount for
this Due
Period
Class A
Usage of
Class C
Subordinated
Amount for
this Due
Period
Cumulative
Class A
Usage of
Class B
Subordinated
Amount
Cumulative
Class A
Usage of
Class C
Subordinated
Amount

Class 2007-A3

$ 39,786,351.50 $ 53,048,446.50

Class 2007-A4

897,436.50 1,196,581.50

Class 2017-A6

46,367,552.50 61,823,377.50

Class 2018-A5

22,435,912.50 29,914,537.50

Class 2018-A7

59,829,100.00 79,772,100.00

Class 2023-A1

44,871,825.00 59,829,075.00

Class 2023-A2

44,871,825.00 59,829,075.00

Total

$ 259,060,003.00 $ 345,413,193.00
5.

Maximum Enhancement Amount Available to Class B Notes; Class B Usage of Class C Subordinated Amounts

Class/Tranche

Maximum Enhancement
Amount Available from
Class C Notes
Class B Usage of
Class C Subordinated
Amount for this Due
Period
Cumulative Class B
Usage of Class C
Subordinated Amount

Class 2023-B1

$ 299,999,992.50

Class 2023-B2

419,999,989.50

Class 2024-B1

119,999,997.00

Total

$ 839,999,979.00

Page 9

CITIBANK, N.A.

CITIBANK CREDIT CARD ISSUANCE TRUST / CITIBANK CREDIT CARD MASTER TRUST I

For the Due Period Ending November 25, 2024

6.

Reductions of and Reimbursements to Nominal Liquidation Amount

Class/Tranche

Reduction
Resulting from
an Allocation
of Investor
Charge-offs
for this Due

Period

Reduction
Resulting from
from a
Reallocation
of Principal
Collections
to pay
interest on
senior
classes of
Notes for
this Due
Period

Cumulative
Reduction
Resulting from

an Allocation
of Investor
Charge-offs
(net of
Reimbursements)

Cumulative
Reduction
Resulting from
an Reallocation
of Principal
Collections to
pay interest on
senior classes
of Notes (net of
Reimbursements)

Reimbursements
of prior
reductions of
Nominal
Liquidation
Amount for
this Due
Period

Nothing to report for this period.
7.

Excess Spread/Early Redemption Event Trigger

1)  3 Month Average Surplus Finance Charge Collections

14.23 %

2)  Is the 3 Month Average Surplus Finance Charge Collections greater than 0.00%

Yes

IN WITNESS WHEREOF, the undersigned has duly executed and delivered this Report this 16th day of December, 2024.

CITIBANK, N.A.
As Managing Beneficiary of Citibank Credit Card Issuance Trust and As Servicer of Citibank Credit Card Master Trust I
By:

/s/ Shirley Wong

Name: Shirley Wong
Title:  Authorized Representative

Page 10