Citi poised to get lower grade for its living will from the FDIC
The FDIC board plans to vote to downgrade its rating on Citigroup's resolution plan because of data-management systems issues.
The Federal Deposit Insurance Corporation’s (FDIC’s) five-member board plans to vote on Thursday to downgrade its rating on Citigroup’s data-management systems to a “deficiency” from a “shortcoming,” according to a government official familiar with the matter who spoke to the WSJ.
The US Federal Reserve and the FDIC in 2022