New York, NY Citi announced today that, on behalf of clients, its Citibank unit has accessed $500 million in 30-day term financing under the discount window program announced on Friday by the Federal Reserve Bank of New York.
Citibank carries a triple-A rating from Moody's Investors Service and a double-A-plus rating from Standard & Poor's, and has substantial liquidity and widespread borrowing capacity.
Citibank stands ready to continue to access the discount window as client needs and market conditions warrant. Citi is pleased to inject liquidity into the financial system during times of market stress and to support creditworthy clients.
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 and Banamex. Additional information may be found at www.citigroup.com or www.citi.com.