Citigroup Repeatedly Breached Fed Rules for Interbank Loans (1)

Citigroup Inc. is working to fix compliance issues linked to rules that protect customers’ insured deposits, according to a person familiar with the matter.

The bank repeatedly breached the Federal Reserve’s Regulation W, which limits the transactions that banks can make to subsidiaries, Reuters reported Wednesday, citing an internal company document.

“We are fully committed to complying with laws and regulations and have a strong Regulation W framework in place to ensure prompt identification, escalation and remediation of issues in a timely manner,” a spokeswoman for Citigroup said in an emailed statement.

A Citibank branch in New York

Photographer: Michael Nagle/Bloomberg

The breaches are the latest sign that ...