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This excerpt taken from the C 8-K filed Apr 17, 2009. Capital Position. On January 15, 2009,
Citi issued $7.1 billion of preferred stock and a warrant to purchase common
stock to the U.S. Treasury and the FDIC as consideration for the loss-sharing
agreement on a $301 billion portfolio of assets (valued as of November 21,
2008). Of the issuance, $3.6 billion was
treated as Tier 1 Capital for regulatory purposes. The Tier 1 capital ratio was approximately
11.8% versus 7.7% in the first quarter of 2008 and 11.9% in the fourth quarter
of 2008. The sequential decline in the
Tier 1 capital ratio was largely due to the consolidation of $82 billion of
card-related securitization assets for regulatory capital purposes, largely
offset by higher Tier 1 capital and a reduction in other risk-weighted assets.
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