The agency is sending a strong message that it won’t rush to end an exemption for Fannie Mae and Freddie Mac while also signaling longer-term changes that will affect all lenders.
While the New York bank has a handle on deposit pricing, Joseph DePaolo said a new accounting standard will play tricks with how it addresses credit quality.
The OCC said Citigroup's main bank subsidiary violated the Flood Disaster Protection Act by not ensuring that borrowers with homes in flood hazard areas had insurance coverage.
Modernizing the bank’s app and digital-banking experience won’t necessarily result in Citigroup needing fewer people in its retail bank, CEO Michael Corbat said.
The body will include the Bank of England, Bank of Canada, the Bank of Japan and the European Central Bank, but not the Federal Reserve or the People's Bank of China.
