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NEW YORK (AP) — Citigroup Inc. may need to raise as much as $10 billion to meet the government's increased capital standards for banks outlined in its stress tests, according to a report.
The New York-based bank is negotiating with the Federal Reserve and may need less capital if it is able to convince regulators of its financial health, The Wall Street Journal said on its website. The report cited people familiar with the matter.
A Citigroup spokeswoman said the bank had no comment on the Journal story.