[JasonC]

As for what was in the covered asset pool, naturally it was not all subprime mortgages. The following is the breakdown as of the end of September.

$81 billion in consumer first mortgages
$50 billion in consumer second mortgages
$11 billion in auto loans
$18 billion other consumer loans
$11 billion in commercial real estate loans
$11 billion in other corporate loans
$9 billion in Alt-A securitizations
$6 billion in SIV securitizations
$2 billion in commercial real estate securitizations
$8 billion "other" securitizations (subprimes, here)
$18 billion in unfunded commitments, 2nd mortgages
$4 billion in unfunded commitments, commercial real estate
$2 billion in unfunded commitments, other consumer
$21 billion in unfunded commitments, other corporate

Understand, "unfunded commitments" means unused portions of lines of credit and possible borrowing on revolving credit facilities and the like, and those are $45 billion of the $250 billion total amount.

The "toxic assets" in the sense most commonly used during the crisis peak, meaning subprime mortgage securitizations and CDOs and such, are all in the $23 billion "securitizations" classes given above, with the highest loss subprime portion already run off or written down to $8 billion by the end of September.

Citi's loan loss reserve (already charged to earnings for anticipated losses) was $36.4 billion as of the same date.

[allmost]

Thanks for the info. Will read in depth a little later.