In this March 16, 2017, file photo, a customer enters a Citibank branch, in New York.(AP Photo/Mark Lennihan, File)
In this March 16, 2017, file photo, a customer enters a Citibank branch, in New York.(AP Photo/Mark Lennihan, File)Citigroup Treasurer Michael Verdeschi said on Friday that he doesn't think the U.S. Federal Reserve is ready to “seriously consider” negative rates as an option to further help the economy bounce back from the fallout it is experiencing due to the ongoing global pandemic.

A Citibank sign in New York. (AP Photo/Mark Lennihan)
A Citibank sign in New York. (AP Photo/Mark Lennihan)Citigroup will manage newly sold securities in the U.S. for Chinese lender Lufax, which made its American exchange debut by raising $2.36 billion, the New York-based bank said on Monday.

In this Aug. 16, 2019, file photo, the logo for JPMorgan Chase & Co. appears above a trading post on the floor of the New York Stock Exchange in New York. (AP Photo/Richard Drew, File)
In this Aug. 16, 2019, file photo, the logo for JPMorgan Chase & Co. appears above a trading post on the floor of the New York Stock Exchange in New York. (AP Photo/Richard Drew, File)JPMorgan may face a monetary penalty from U.S. regulators for faults in its internal rules and procedures, the bank said on Monday in a regulatory filing, one month after it paid a record settlement in a spoofing probe.

British Prime Minister Boris Johnson leads a Cabinet meeting at the Foreign and Commonwealth Office, in London, Nov. 3, 2020. (Eddie Mulholland, Pool Photo via AP)
British Prime Minister Boris Johnson leads a Cabinet meeting at the Foreign and Commonwealth Office, in London, Nov. 3, 2020. (Eddie Mulholland, Pool Photo via AP)Major global banks are telling their staff based in the U.K. to go back to working from home, following the government’s new implementation of a several weeks-long lockdown measure, which is set to start on Thursday.

Street signs on Wall Street in New York, New York. (Photo by lo lo on Unsplash)
Street signs on Wall Street in New York, New York. (Photo by lo lo on Unsplash)The ability of the largest U.S. banks to remain solvent during an extended recession hinges on continued government support because they are in “a significantly shakier position” than they appear, highlighting the need for an immediate halt in dividend payments, according to an advocacy group.

This photo from Tuesday May 3, 2011, shows the Thurgood Marshall U.S. Courthouse in New York's lower Manhattan. (AP Photo/Mary Altaffer, File)
This photo from Tuesday May 3, 2011, shows the Thurgood Marshall U.S. Courthouse in New York's lower Manhattan. (AP Photo/Mary Altaffer, File)Several of the world's largest banks including Goldman Sachs, Bank of America and JPMorgan will have to face a lawsuits claiming they colluded for nearly a decade to manipulate pricing of certain municipal debt issuances.

Citigroup CEO Michael Corbat testifies before the House Financial Services Committee during a hearing, Wednesday, April 10, 2019, on Capitol Hill in Washington. (AP Photo/Patrick Semansky)
Citigroup CEO Michael Corbat testifies before the House Financial Services Committee during a hearing, Wednesday, April 10, 2019, on Capitol Hill in Washington. (AP Photo/Patrick Semansky)Citigroup's veteran chief risk officer is departing as the bank faces regulatory and investor scrutiny over deficiencies in risk management, and the bank also revealed Monday that it named an insider to succeed Jane Fraser as CEO of global consumer banking when she becomes company CEO in February.

In this Feb. 8, 2019, file photo the logo for Citigroup appears above a trading post on the floor of the New York Stock Exchange. (AP Photo/Richard Drew, File)
In this Feb. 8, 2019, file photo the logo for Citigroup appears above a trading post on the floor of the New York Stock Exchange. (AP Photo/Richard Drew, File)Citigroup on Friday revealed what it described as the largest-ever private-sector social bond, raising $2.5 billion for affordable housing, following a pandemic-driven string of similar issuances.

In this Feb. 8, 2019, file photo the logo for Citigroup appears above a trading post on the floor of the New York Stock Exchange. (AP Photo/Richard Drew, File)
In this Feb. 8, 2019, file photo the logo for Citigroup appears above a trading post on the floor of the New York Stock Exchange. (AP Photo/Richard Drew, File)Citibank London, the U.K. branch of U.S.-based Citibank, will be buying a portfolio of performing buy-to-let mortgage accounts from Ireland-based Permanent TSB Group’s lending arm for around EUR 1.2 billion ($1.42 billion).

Alibaba founder Jack Ma. (AP Photo/Thibault Camus, File)
Alibaba founder Jack Ma. (AP Photo/Thibault Camus, File)Chinese fintech Ant Group is seeking to raise more than $34 billion from its upcoming blockbuster initial public offering, as the company disclosed pricing terms Monday for its two listings in Hong Kong and Shanghai that would make its IPO the largest ever.

A time-lapse photo of traffic on Lake Shore Drive in Chicago, Illinois. (Photo by Jake Blucker on Unsplash)
A time-lapse photo of traffic on Lake Shore Drive in Chicago, Illinois. (Photo by Jake Blucker on Unsplash)Root upped the size of its initial public offering on Monday, increasing the total amount of money that the U.S. auto coverage insurtech is looking to raise by about $10 million.

Bank of America's headquarters are shown in Charlotte, N.C., Thursday, July 15, 2010. (AP Photo/Chuck Burton)
Bank of America's headquarters are shown in Charlotte, N.C., Thursday, July 15, 2010. (AP Photo/Chuck Burton)Bank of America said Monday that it took equity stakes in three more minority-owned and community development banks, advancing a promise by the second-largest bank in the U.S. to extend $1 billion to financial institutions, businesses and initiatives supporting Americans who are disproportionately affected by the COVID-19 pandemic.

In this Feb. 8, 2019, file photo the logo for Citigroup appears above a trading post on the floor of the New York Stock Exchange. (AP Photo/Richard Drew, File)
In this Feb. 8, 2019, file photo the logo for Citigroup appears above a trading post on the floor of the New York Stock Exchange. (AP Photo/Richard Drew, File)Chinese online lending and wealth management firm Lufax Holding, which is backed by China's largest insurer Ping An Insurance Group, is seeking to raise up to $2.36 billion from an initial public offering in the U.S.

A Citibank sign in New York. (AP Photo/Mark Lennihan)
A Citibank sign in New York. (AP Photo/Mark Lennihan)Peter Charrington, Citigroup’s global head of private banking and a 26-year veteran of the New York-based bank, is set to depart in order to spend more time with his family and explore new opportunities, according to a company memo seen by Fastinform.

The logo of payment company Wirecard is pictured at the headquarters in Munich, Germany, July 20, 2020. (AP Photo/Matthias Schrader)
The logo of payment company Wirecard is pictured at the headquarters in Munich, Germany, July 20, 2020. (AP Photo/Matthias Schrader)Wirecard North America, formerly a subsidiary of beleaguered German payments company Wirecard, has been sold to holding company Syncapay and will combine with daVinci Payments, the three companies said Thursday.

In this March 10, 2020 file photo, Wells Fargo CEO and President Charles Scharf is seated to testify during a hearing of the House Financial Services Committee, on Capitol Hill in Washington. (AP Photo/Alex Brandon, File)
In this March 10, 2020 file photo, Wells Fargo CEO and President Charles Scharf is seated to testify during a hearing of the House Financial Services Committee, on Capitol Hill in Washington. (AP Photo/Alex Brandon, File)Wells Fargo altered its compensation structure for 2021, with the bank removing retirement matching funds for employees making over $250,000 and raising pay and benefits for those at lower levels, spokesperson Beth Richek told Fastinform on Thursday.

In this Feb. 8, 2019, file photo the logo for Citigroup appears above a trading post on the floor of the New York Stock Exchange. (AP Photo/Richard Drew, File)
In this Feb. 8, 2019, file photo the logo for Citigroup appears above a trading post on the floor of the New York Stock Exchange. (AP Photo/Richard Drew, File)Citigroup is planning to create an investment banking unit in China as the country claims an increasingly large share of the global equities market and is buoyed by a surge of initial public offerings, Bloomberg reported Thursday.

In this Wednesday, Nov. 21, 2018, file photo taken with a long exposure, traffic streaks across the John F. Kennedy Expressway at the start of the Thanksgiving holiday weekend in Chicago. (AP Photo/Kiichiro Sato, File)
In this Wednesday, Nov. 21, 2018, file photo taken with a long exposure, traffic streaks across the John F. Kennedy Expressway at the start of the Thanksgiving holiday weekend in Chicago. (AP Photo/Kiichiro Sato, File)U.S. digital auto insurer Root is looking to raise up to $604 million in an upcoming initial public offering, marking the latest in a wave of insurtechs angling to tap the public equity markets.

The Morgan Stanley logo is displayed on its Times Square building, in New York. (AP Photo/Mark Lennihan, File)
The Morgan Stanley logo is displayed on its Times Square building, in New York. (AP Photo/Mark Lennihan, File)Two senior executives at Morgan Stanley’s commodities business are leaving the New York-based investment bank after violating its rules on the use of electronic communication tools such as the WhatsApp messaging app, Bloomberg reported Tuesday.

Citigroup management failed for years to disclose problems with its internal controls, damaging the bank’s finances and reputation while causing its shares to lose significant value, shareholders alleged in a lawsuit.