Citigroup Restructures Off-the-Books Entities
From Dow Jones/Associated Press
Citigroup Inc. has restructured some off-balance sheet entities to avoid having to consolidate them on the balance sheet under a new accounting rule, according to a regulatory filing.
Citigroup’s filing with the Securities and Exchange Commission said the bank could be required to consolidate about $5 billion of off-balance sheet entities because of the new rule. That is down from a previous estimate of $55 billion.
