Financial Times: Citigroup, FDIC Near Deal

Posted by Orb Staff on July 16, 2009 No Comments
Categories : Residential Mortgage

oup and the Federal Deposit Insurance Corp. (FDIC) are nearing an agreement by which the FDIC would require the troubled company to strengthen its leadership team and improve its asset quality, the [link=http://www.ft.com/cms/s/0/a44b5690-7182-11de-a821-00144feabdc0.html][u]Financial Times[/u][/link] reports. Citing people familiar with the situation, the Financial Times report says the agreement could be completed soon. Citi would be expected to make changes to its board and governance, as well as provide the FDIC more data pertaining to its capital and liquidity. SOURCE: Financia

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