Key Developments: Citigroup Inc (C)

C on New York Consolidated

15 Aug 2014
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$-0.37 (-0.74%)
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Latest Key Developments (Source: Significant Developments)

Lexington Partners to acquire Citigroup Inc's commitment to Metalmark Capital Partners II
Friday, 1 Aug 2014 07:09am EDT 

Citigroup Inc and Lexington Partners:Says that they have entered into a definitive agreement whereby Citi will sell 80 pct of its $1.5 bln limited partnership interest in Metalmark Capital Partners II (MCP II) to Lexington.As part of the previously announced revision of the business relationship between Citi and Metalmark in December 2013, Citi will offer 20 pct of its limited partnership interest to existing MCP II limited partners.Terms of the transaction, which is expected to close in the fourth quarter of 2014, are not being disclosed.Completion of the transaction is subject to customary closing conditions.  Full Article

Citigroup Inc declares common stock dividend
Wednesday, 16 Jul 2014 06:15pm EDT 

Citigroup Inc:Declares quarterly dividend on Citigroup's common stock of $0.01 per share, payable on Aug. 22, 2014 to stockholders of record on Aug. 04, 2014.  Full Article

Citigroup Inc announces comprehensive settlement with residential mortgage-backed securities working group
Monday, 14 Jul 2014 07:00am EDT 

Citigroup Inc:Has reached an agreement to settle the ongoing investigation of the Residential Mortgage-Backed Securities (RMBS) Working Group, part of the Financial Fraud Enforcement Task Force.It resolves actual and potential civil claims by the U.S. Department of Justice, several state attorneys general, and the Federal Deposit Insurance Corporation relating to RMBS and collateralized debt obligations (CDOs) issued, structured or underwritten by Citi between 2003 and 2008.Under the terms of the settlement, Citigroup will pay a total of $4.5 billion in cash and provide $2.5 billion in consumer relief.The cash portion consists of a $4 billion civil monetary payment to the DOJ and $500 million in compensatory payments to the State AGs and the FDIC.Citigroup has agreed to provide the consumer relief by the end of 2018.  Full Article

Citigroup Inc to resolve a US government investigation-Business Standard
Sunday, 13 Jul 2014 08:11pm EDT 

Citigroup Inc:Agreed to pay $7 billion to resolve a US government investigation into shoddy mortgage-backed securities the bank sold in the run-up to the 2008 financial crisis in a settlement set to be announced on Monday-Business Standard.The $7 billion includes $4 billion in cash to the US Department of Justice, $2.5 billion in consumer relief, more than $200 million to the Federal Deposit Insurance Corporation and just under $300 million to settle probes by five states, said sources familiar with the negotiations.Spokespeople for the Justice Department and the bank declined comment.Representatives of attorneys general of New York, Delaware, California, Massachusetts and Illinois, the states said to be involved, did not immediately return requests for comment.Nor did the FDIC.  Full Article

Citigroup Inc announces agreement to sell consumer bank in Spain
Monday, 23 Jun 2014 11:56am EDT 

Citigroup Inc:Signs agreement with Banco Popular to sell its consumer banking business in Spain.Sale, which is subject to regulatory and other customary approvals, is targeted to close in the third quarter of 2014.Sale includes about $2 bln in GAAP assets, $3.2 bln in assets under management, 1.2 mln customer accounts, $2 bln in loans and $2.8 bln in deposits.About 950 consumer banking employees, 45 Citi branches and the ATM network in Spain will transfer to Banco Popular.  Full Article

Citigroup Inc announces agreement to sell Consumer Bank in greece
Friday, 13 Jun 2014 03:38am EDT 

Citigroup Inc:Says that it has signed an agreement with Alpha Bank to sell its consumer banking business in Greece along with its Diners Club of Greece SA credit card operations.Says the sale includes about $600 million in GAAP assets, 480,000 customers, $1.4 billion in deposits and $540 million in customer receivables (cards & loans).Also about 730 consumer banking employees and the Citi branch and ATM network in Greece will transfer to Alpha Bank.The sale is expected to close in the third quarter of 2014.  Full Article

Citigroup Inc issues of Callable Range Accrual Notes
Monday, 12 May 2014 11:50am EDT 

Citigroup Inc:Issues final Aggregate Principal Amount of Notes to be issued will be $3,574,000.Title of Notes is Issue of $3,574,000 Callable Range Accrual Notes due May 2020.  Full Article

Citigroup issues series M preferred shares
Thursday, 8 May 2014 02:10am EDT 

Citigroup Inc:Issued 6.300 pct Fixed Rate/Floating Rate Noncumulative Preferred Stock, Series M of 1,750,000 shares on April 30.Received $1,723,750,000 in total through the issuance.  Full Article

Norges Bank Investment Management selects Citigroup Inc as sole global custodian and securities lending provider
Monday, 5 May 2014 02:00am EDT 

Citigroup Inc:Receives a mandate from Norges Bank Investment Management to provide global custody and securities lending services to support NBIM's $850 bln investment portfolio globally.  Full Article

Citigroup Inc declares common stock dividend
Wednesday, 23 Apr 2014 05:15pm EDT 

Citigroup Inc:Declared a quarterly dividend of $0.01 per share.Payable on May 23 to stockholders of record on May 5.  Full Article


Citigroup seeks to exit Japanese retail banking : source

TOKYO - Citigroup Inc is preparing to sell its Japanese retail banking operations, a source with direct knowledge of the matter said on Wednesday, as it waves the white flag on a venture plagued by regulatory troubles and anemic lending.

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