New York Citi (NYSE: C), Wachovia (NYSE: WB), and Wells Fargo (NYSE WF), in consultation with the Federal Reserve, announce the following agreement.
Citi, Wachovia, and Wells Fargo have agreed to:
This standstill agreement will terminate at noon on Wednesday, October 8, 2008, unless otherwise extended.
Citi, the leading global financial services company, has some 200 million customer accounts and does business in more than 100 countries, providing consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, and wealth management. Citi's major brand names include Citibank, CitiFinancial, Primerica, Citi Smith Barney, Banamex and Nikko. Additional information may be found at www.citigroup.com or www.citi.com.