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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: TobagoJack who wrote (45505)	1/20/2009 12:47:29 PM
From: pogohere	Respond to of 217803

Andrew White's band?: uk.youtube.com

To: TobagoJack who wrote (45505)	1/20/2009 1:46:23 PM
From: elmatador	Respond to of 217803

Dear MR Elmatador I am writing to update you on the latest in a series of steps we have taken to position Citi to navigate the challenges posed by the current market environment. I would first like to reassure you of Citi's capital strength and liquidity. Citi continues to be one of the strongest financial institutions globally. As of the end of the fourth quarter, our Tier 1 capital ratio was approximately 11.8%, far above the minimum regulatory requirement. Citi also has very high levels of liquidity with around US$780 billion in customer deposits and over US$66.8 billion in cash or cash equivalent holdings as at 31 December 2008. In addition, like other banks in the United States, we have access to lines of liquidity through the U.S. Federal Reserve. As you have most likely read from our recent media announcements, Citi is re-aligning into two parts: Citicorp and Citi Holdings. Citicorp will consist of core Citi businesses such as Consumer Banking and Cards, Commercial Banking, Corporate and Investment Banking, Global Transaction Services, and Citi Private Bank. Citicorp will have assets of US$1.1 trillion and will be 65 per cent deposit-funded. Citi Holdings will be made up of brokerage and asset management, local consumer finance and other non-strategic assets. Our aim is to actively optimise the value of these businesses for strategic disposal as the opportunity arises. This new structure will help us quickly transform Citi into a significantly higher return, lower risk and higher growth company than it was before. Our highly successful franchise in Singapore, including all of our consumer and corporate banking activities, will fall within the Citicorp side of the company. Therefore, the business we have in Singapore will represent the future of our organisation globally. As a locally licensed bank, Citibank Singapore Limited is regulated by the Monetary Authority of Singapore (MAS) and subject to all prudential and other requirements applicable to banks in Singapore. Citibank maintains S$1.5 billion in paid-up capital and S$3.7 billion in shareholders' funds at the end of the fourth quarter. Citibank's Tier 1 capital ratio is 14.2%, which is far in excess of the minimum requirement as prescribed by the MAS and is amongst the highest in Singapore. Furthermore, customers of Citibank Singapore Limited benefit from the Singapore Government's guarantee of all Singapore Dollar and foreign currency deposits of non-bank customers in banks, finance companies and merchant banks licensed by the MAS. The guarantee took effect from 16 October 2008 and will remain in place until 31 December 2010. All depositors, big and small, corporates and individuals, including those under the current Deposit Insurance Scheme administered by the Singapore Deposit Insurance Corporation will now enjoy protection from the Government on the full amount of their eligible deposits for the duration of the Singapore Government Guarantee subject to the terms of the guarantee. Citibank continues to invest in and grow our business in Singapore. With additional branches and ATMs established in 2008, we now have over 800 branded customer "touch points". We have also invested in product innovation and increasing our service levels and will continue to do so in 2009. We have been in Singapore for more than 100 years. We appreciate your trust in us in this difficult market environment, and look forward to continuing to serve you in the years ahead. Should you require any further information, kindly contact your Relationship Manager. Alternatively, send us an email or call our 24-Hour CitiPhone Banking at +65 xxxxxxxx. Yours sincerely Business Manager