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Citigroup Faces Quarterly Loss Due to Charges and Reorganization
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Citi Reports Loss and Restructuring
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Citigroup is at risk of a quarterly loss due to higher charges related to the decline of the Argentine peso and CEO Jane Fraser's reorganization. The bank needs to build reserves by $1.3 billion and will post a $1.7 billion expense for a special FDIC assessment, resulting in a $1 per share fourth-quarter loss.
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How will the higher charges impact Citigroup's financial performance?
How will the special FDIC assessment affect Citigroup's long-term prospects?
What steps is Citigroup taking to address the decline of the Argentine peso?
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