The Federal Reserve has informed Citi (C) that it has terminated formal orders requiring the bank to address weaknesses in its trading risk management, Elisa Martinuzzi, Lananh Nguyen and Tatiana Bautzer of Reuters reported, citing people familiar with the matter. This reportedly marks a step forward in resolving oversight and control issues that have weighed on the lender. The Fed issued notices to Citi in late 2023, flagging three matters requiring immediate attention related to how Citi calculated and managed the risks posed by its trading counterparties. Those requirements have now been closed, according to sources.
Claim 50% Off TipRanks Premium and Invest with Confidence
- Unlock hedge-fund level data and powerful investing tools designed to help you make smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis so your portfolio is always positioned for maximum potential
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on C:
- Crypto Currents: Hut 8 signs $7B AI deal with Anthropic, Fluidstack
- Citi price target raised to $131 from $118 at Keefe Bruyette
- Micron Reports Earnings Today. Wall Street Demands Proof of the ‘Memory Supercycle,’ But Real Battle Will Be Won on Guidance
- JPMorgan Turns Bullish on Citigroup Stock (C), Upgrades Rating to Buy
- Midday Fly By: Broadcom slides, pot stocks jump