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.