|For release at 12:30 p.m. EDT|
The Federal Reserve Board on Monday announced the execution of a Written Agreement between Citigroup, Inc., New York, New York, and the Federal Reserve Bank of New York.
The Written Agreement follows a special review of transactions involving Citigroup and its subsidiaries and the Enron Corporation, Houston, Texas.
The Written Agreement requires Citigroup on its own behalf and on behalf of its subsidiaries to continue to strengthen risk-management practices, particularly those associated with complex structured-finance transactions.
The Federal Reserve Board's enforcement action was coordinated with actions being taken Monday by the New York County District Attorney, the U.S. Securities and Exchange Commission, and the Office of the Comptroller of the Currency.
A copy of the Written Agreement is attached.
2003 Enforcement actions