Next to no dud loans at Citigroup 02 December 2008 5:34PM Ian Rogers Just to round off this newsletter's tour of the "pillar 3" disclosures of banks (and which still leaves some very small foreign banks out of the coverage):• ING Bank (Australia) credit exposures of $48.6 billion, impaired assets of $192 million equal to 0.4 per cent of credit exposures and tier one capital ratio of 8.6 per cent.• Citigroup Pty Ltd credit exposures of $20.3 billion, impaired assets of a tiny $0.5 million equal to 0.002 per cent of loans and a tier one capital ratio of 12.0 per centWhile this may seems faintly implausible given that Citi must have some dud loans to some of the lengthening list of crook corporate borrowers, those loans must be booked through the foreign bank branch (which does not have to publish quarterly disclosure) rather than through the subsidiary that does. • Rabobank reported credit exposures of $11.4 billion; impaired assets of $126 million, equal to 1.1 per cent of loans and all classified as corporate (and in practice agribusiness) loans and a tier one capital ratio of 8.8 per cent.• AMP Banking reported credit exposures of $5.5 billion; impaired assets of $14 million equal to 0.3 per cent of exposures and a tier one capital ratio of 8.7 per cent.• Members Equity Bank - which excludes more than 90 per cent of its managed loans from its balance sheet - reported credit exposures of $1.2 billion; impaired assets of $8.1 million equal to 0.7 per cent of reported loans and a tier one capital ratio of 10.5 per cent.