Citicorp to Give Regulators More Bad Loan Data : Banking: Move signals closer supervision of the nation’s largest holding company. Second-quarter earnings are restated.

Citicorp revealed Friday that it has agreed to provide regulators with more information about its financial troubles, a signal that the government has taken a more aggressive role in supervising the nation’s largest bank holding company.

Citicorp also said it was restating second-quarter earnings to show it earned $28 million less than previously reported. Regulators required it to change the accounting for certain mortgage related assets, the company said.

The agreement signed with the Federal Reserve Bank of New York and the Comptroller of the Currency in Washington calls for Citicorp to provide information on its problem loans and efforts to rebuild its balance sheet.

Citicorp declined to provide a copy of the agreement, described as an informal memorandum of understanding, saying it contained confidential information. But spokesman Richard J. Howe said the agreement, signed in February, doesn’t carry the force of law of a formal memorandum.

Regulators generally file a formal memorandum when they’re displeased with a bank’s finances or management.

Citicorp has discussed bank operations with the regulators and provided them information concerning plans to rebuild weak capital levels, Howe said.

The announcements were made after close of financial markets late Friday. Citicorp’s stock closed up 37.5 cents to $18.875 a share on the New York Stock Exchange.

Jack Morris, another spokesman for the holding company, said the agreement was simply a way for Citicorp and regulators to define a set of mutual goals.

Citicorp reported $8.1 billion in troubled loans and foreclosed real estate, excluding Third World debts, during the second quarter. The firm’s troubles stem from aggressive real estate lending in the 1980s to such high-flying developers as Olympia & York and Donald J. Trump, whose fortunes soured when the commercial real estate market collapsed in the late 1980s.

Citicorp has made progress in rebuilding its capital levels, which now are above the minimum requirements that take effect at year-end. Chairman John Reed set even higher goals for the holding company’s capital in a message to employees Friday, the firm said.

Under the restated second-quarter results, Citicorp said it earned $143 million, or 25 cents a share, down from the previously reported earnings of $171 million, or 32 cents a share.

That contrasts with a loss of 12 cents a share, or $41 million, after payment of preferred dividends for the April-June period of 1991.

Corporations rarely restate quarterly results. Citicorp said the regulators’ review of its mortgage-related assets, including rights to service mortgage payments from other companies, were less valuable because of lower interest mortgage refinancings.