Citigroup Files $68 Billion Plan After SEC Settlement
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Citigroup Inc., the third-biggest U.S. bank by assets, may issue as much as $68 billion of stock, bonds and other securities over the next three years, according to a filing triggered as a result of a settlement with regulators.
The bank, based in New York, registered the securities for review by the Securities and Exchange Commission in today’s filing. Under SEC rules, companies lose their ability to register securities without review if they’ve been accused of certain violations within the prior three years. Citigroup lost that privilege as the result of a settlement with the SEC last year, Shannon Bell, a bank spokeswoman, said in an e-mailed statement.