Citigroup won't now break out Citi Holdings results, regulators reissue Morgan Stanley letter

Morgan Stanley HQ

Citigroup said it will no longer break out results for Citi Holdings after this year.

Bloomberg News reports that the so-called bad bank was created in 2009 by then-Chief Executive Officer Vikram Pandit to house about $600bn of troubled businesses and toxic assets. The company has since whittled that to $73bn.

In the meantime, Reuters reports that the U.S. Federal Reserve and the Federal Deposit Insurance Corporation said on Friday they had reissued their letter from earlier in the week to Morgan Stanley about the bank's "living will," or plan for a bankruptcy that would not rely on federal aid, because of a technical error.

"The feedback letter for Morgan Stanley has been re-issued due to a drafting error that labeled a weakness as a deficiency, rather than a shortcoming," said Federal Reserve spokesman Eric Kollig. "The change has no impact on the firm or the required remediation."

Citigroup Plans to Eliminate Shrinking Citi Holdings Unit

US regulators reissue letter on Morgan Stanley's 'living will'

JefferiesAnd the Best Place to Work in the global financial markets 2016 is...

Register for Financial Markets News Alerts