secwatch.observer — SEC 8-K summary
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Issuer:     CITIGROUP INC (C)
CIK:        0000831001
Form:       8-K
Filed at:   2024-01-10T23:59:59+00:00
Accession:  0001104659-24-002981
Event type: other_material
Sentiment:  negative
Materiality: 0.90
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Citigroup pre-announces ~$4.7B in Q4 charges: reserve build, FDIC assessment, Argentina loss, restructuring
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- $1.3B reserve build for transfer risk: Argentina ($720M) and Russia ($580M) exposures.
- $1.7B FDIC special assessment charge, revised up from prior ~$1.5B estimate.
- $880M translation loss in Argentina revenues from peso devaluation; partially offset by $250M NII.
- $780M restructuring charges from organizational simplification, mainly severance and impairments.
- New reporting segments effective Q4 2023: Services, Markets, Banking, U.S. Personal Banking, Wealth.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/831001/000110465924002981/0001104659-24-002981-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/831001/000110465924002981/c-20220301x8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-002981

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