Citi Statement On 2023 Resolution Plan Submission

NEW YORK – Citi provided the following statement in response to today’s announcement from the Board of Governors of the Federal Reserve System and the Federal Deposit Insurance Corporation related to its 2023 resolution plan submission:

“We are fully committed to addressing the issues identified by our regulators.  While we’ve made substantial progress on our transformation, we’ve acknowledged that we have had to accelerate our work in certain areas, including improving data quality and regulatory processes such as resolution planning.  We’ve made substantial enhancements in recent years and, as we’ve said, we will invest what is necessary to support this critical effort.  More broadly, we continue to have confidence that Citi could be resolved without an adverse systemic impact or the need for taxpayer funds.”