TITLE

Citigroup, feds finalize agreement for bailout

AUTHOR(S)
Dillard, Gabriel
PUB. DATE
November 2008
SOURCE
Business Journal Serving Fresno & the Central San Joaquin Valley;11/28/2008, Issue 323950, p17
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
The article reports on the agreement of Citigroup Inc. and the U.S. Treasury Department to bailout $20 billion for the banking industry in California. Under the deal, the Treasury and Federal Deposit Insurance Corp. (FDIC) will guarantee up to $306 billion loans backed by commercial and residential mortgages. Citigroup will modify the mortgages to avoid foreclosures, and reduce the interest rates.
ACCESSION #
35550758

 

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