Under so-called Regulation W, banks are required to restrict transactions like loans to the affiliates they control. The rule is meant to protect depositors whose money is insured up to $250,000 by the government.
The Regulation Winfractions come as Citi works to fix separate problems in its risk management and internal controls.
Authorities labelled its risk practices "unsafe and unsound" in 2020, and rebuked Citi over how it measured counterparty risks in 2023. This year, regulators criticised the bank's resolution planning, and most recently punished it with $136 million in fines for making insufficient progress on compliance.
Bu hikaye Business Standard dergisinin August 01, 2024 sayısından alınmıştır.
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Bu hikaye Business Standard dergisinin August 01, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
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