Citigroup Plans to Scale Back Lending to Asset Managers with Books Estimated to Drop from $65B to $20B

Per FT

Citigroup plans to dramatically scale back lending to asset managers. Existing books total about $65B but Citi is preparing to drop it to just about $20B in the next few months.

This information came from people familiar with the matter but Citi declined to give a comment. The decision came after Citi, along with Bank of America and JPMorgan, were designated as global systematically important banks.

Citi is now required to hold more capital compared to risk-weighed assets.

See full $C flow at unusualwhales.com/flow.