NEW YORK (

TheStreet

) --

Citigroup

(C) - Get Report

late Friday said it expects U.S. consumer net credit losses to "increase modestly" in the first quarter from fourth-quarter levels.

The company disclosed this view, and plenty more in its Form 10-K for fiscal 2009. which it filed after the closing bell. Citi attributed the view "in part to expected seasonal patterns," but added that for the second half, net credit losses will still depend on the macroeconomic environment and its own loss-mitigation efforts.

Net credit losses totaled $7.1 billion in the fourth quarter, down $800 million from third-quarter levels. The company had also seen a sequential decline in net credit losses from the second quarter to the third.

"Citigroup is maintaining a cautious stance in light of this uncertain market environment and continued macroeconomic headwinds," the company said in the massive document, which spans hundreds of pages.

Other tidbits from its outlook for 2010 include that it expects net interest margins to "remain under pressure" because of its "enhanced liquidity position and ongoing de-risking of its balance sheet," as well as its estimate that new credit card rules in the United States, which took effect earlier this month, will reduce revenue for its North American Regional Consumer Banking operations by between $400 million and $600 million in 2010.

Separately, in the company's proxy statement, it was disclosed that CEO Vikram Pandit's total compensation for 2009 was $128,751, down from $38.2 million in 2008.

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Written by Michael Baron in New York

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