Citi may surrender 40% of equity to US government in return for more capital
Feb 23rd, 2009 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
Citi executives are reported to be in active talks with federal regulators, which could result in the US government owning a bigger chunk of one of America's biggest banks. The Financial Times says the giant bank is seeking a new capital injection that would increase the government's to about 40 per cent but stop short of an outright nationalisation.