Citi CEO faces personal stress test

Citi Building Sign

He will know in less than two weeks if he should start looking for a new job.

Michael Corbat will know in less than two weeks if he should start looking for new work.

Bloomberg News reports that’s when Citigroup’s CEO will hear whether the Federal Reserve has blessed his 2015 capital plan after rejecting last year’s.

Corbat has said he should be held accountable, and analysts and investors say he might lose his job if the firm fails a second time.

With stakes so high, most analysts expect Citigroup has taken the necessary steps - including spending more than $180m to improve its capital-planning processes - to ensure it passes. Instead, attention turned last week to bigger rival Bank of America after a filing that showed regulators had demanded changes to some of that lender’s models.

To access the complete Bloomberg News article hit the link below:

Citigroup Awaits Fed Stress Tests

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