BRIEF-Citigroup asked to spend $1.2 bln on buybacks

March 7 Thu Mar 7, 2013 5:46pm EST

March 7 (Reuters) - Citigroup Inc : * Says it asked Federal Reserve for permission to spend $1.2 billion on stock buybacks through 1q 2014 * Says it did not ask for dividend hike * Posts capital stress test disclosures on company web site * Says its scoring for stress showed tier 1 common ratio falling to 8.4 percent

versus fed scoring of 8.3 percent

A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

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