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Citigroup faulted by U.S. banking regulators for poor data management in ‘living will’ review

Posted on AllSides November 23rd, 2022
From The Center
Alex Wong | Getty Images

Citigroup needs to address weaknesses in how it manages financial data, according to a review of the biggest banks’ so-called living will plans, U.S. banking regulators said Wednesday.

The New York-based bank’s issues could hurt its ability to produce accurate reports in times of duress, and that could hamper its ability to successfully execute resolution planning, the Federal Reserve and the Federal Deposit Insurance Corporation told the bank in a letter.

The biggest and most important U.S. banks have to submit detailed plans to regulators that explain how they can be...

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