Citigroup CEO under pressure over ‘stress test’ results

Here’s a test that Wall Street can sleep through.

The results of Thursday’s stress test from the Federal Reserve could include a “false positive” for Citigroup CEO Mike Corbat, whose job hangs in the balance if the central bank doesn’t approve his plan to increase its profit-sharing plans, Mike Mayo, analyst at CLSA, told The Post.

The results of the Fed’s stress test come in two parts — a quantitative review of capital ratios on Thursday after the market close, and a more in-depth dive into the largest banks, including JPMorgan and Bank of America, that comes out March 11.

That second review, called the comprehensive capital analysis and review, or CCAR, is make-or-break for Citi’s CEO Corbat, who didn’t convince regulators that his bank had a good enough risk-assessment policy last stress test, Mayo said.

Read on.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s