Citi: Back in the M&A Game?

Citigroup (C) has a green light to make deals again. A little more than a year ago regulators banned the world's largest financial institution from making any large acquisitions. In a letter dated Apr. 3, William L. Rutledge, executive vice-president of the Federal Reserve Bank of New York, informed Citigroup's Chief Executive Officer Charles O. Prince that all restrictions have now been lifted. The banking industry's largest regulator had barred acquisitions after growing leery of Citi's regulatory missteps worldwide, and feared that Citi had already become too big to manage.

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