CITIGROUP INC.
Current Report on Form 8-K
Item 8.01 Other Events.
Effective October 1, 2024, Citigroup Inc.’s (Citi) indicative Stress Capital Buffer (SCB) requirement is 4.1%, a decrease of 20 bps from the current 4.3%, and Citi’s preliminary Standardized Common Equity Tier 1 (CET1) capital ratio regulatory requirement is 12.1%, 20 bps down from the current 12.3%.
As of March 31, 2024, Citi's Standardized CET1 capital ratio was 13.5%. The Federal Reserve Board will provide Citi with its final SCB requirement by August 31, 2024, and that requirement will become effective on October 1, 2024, and will remain in effect until September 30, 2025.
Citi’s planned capital actions include an increase of Citi’s quarterly common stock dividend from $0.53 to $0.56 per share (subject to quarterly approval by Citi’s Board of Directors), starting in the third quarter of 2024.
Certain statements in this report are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations and are subject to uncertainty and changes in circumstances. These statements are not guarantees of future results or occurrences. Citi’s final Stress Capital Buffer requirement and actual capital levels and capital actions (including common stock dividends) may differ materially from those included in these statements due to a variety of factors. These factors include, among others: macroeconomic, geopolitical and other challenges and uncertainties, including those related to economic growth, inflation and interest rates; the potential outcomes of the extensive legal and regulatory proceedings, examinations, investigations, consent orders and related compliance efforts and other inquiries to which Citi is or may be subject; ongoing regulatory and legislative uncertainties and changes, including changes in regulatory capital rules, requirements or interpretations; and the precautionary statements included in this report. These factors also consist of those contained in Citi's other filings with the U.S. Securities and Exchange Commission, including without limitation the "Risk Factors" section of Citi's 2023 Form 10-K. Any forward-looking statements made by or on behalf of Citi speak only as to the date they are made, and Citi does not undertake to update forward-looking statements to reflect the impact of circumstances or events that arise after the date the forward-looking statements were made.
