Citigroup's (C) Living Will Plan Refused by US Regulators [Yahoo! Finance]
Citigroup, Inc. (C)
Last citigroup, inc. earnings: 4/15 08:00 am
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US:NYSE Investor Relations:
citigroup.com/citi/investor/pres.htm
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Source: Yahoo! Finance
In a meeting, most of a five-member Federal Deposit Insurance Corporation (“FDIC”) board decided not to approve the company's resolution plan, citing ‘deficient' data controls. As part of the measures implemented after the 2008 financial crisis, the largest banks in the country are mandated to have these kinds of plans in place to protect the financial system and taxpayers from the consequences of their failure. The Federal Reserve and the FDIC recertify them every other year. Citigroup's data controls were deemed ‘deficient' by the FDIC. That represented a drop from the previous rating two years prior when the Fed and the FDIC approved the company's ‘living will' while criticizing its data controls as a ‘shortcoming.' The banking regulator's decision raises concerns about the bank's ability to be securely resolved and its ongoing attempts to improve data governance. Per Citigroup's management, the company continues to make considerable investments to revolutionize its infrast
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C
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C
Earnings
- 4/12/24 - Beat
C
Sec Filings
- 6/27/24 - Form 424B2
- 6/27/24 - Form 424B2
- 6/27/24 - Form 424B2
- C's page on the SEC website