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Citigroup seen near deal with regulator

LONDON
Wed Jul 15, 2009 7:36pm EDT

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A pedestrian passes a logo of Citigroup in Tokyo April 20, 2009. REUTERS/Yuriko Nakao

LONDON (Reuters) - Citigroup (C.N) is close to a secret agreement with one of its main regulators that will increase scrutiny for the bank, the Financial Times reported in its Thursday edition.

Citing "people close to the situation," the paper said the deal had been discussed in recent weeks amid increased pressure on Citi from the Federal Deposit Insurance Corporation and could be finalised soon.

The agreement was said to require Citi to strengthen its board and governance, improve its asset quality, better manage expenses and provide more information on capital and liquidity.


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