Posted on January 16, 2009 by Hunton & Williams LLP Print This Article

U.S. Government Finalizes Terms of Citigroup Guarantee

The Treasury Department, the Federal Reserve and the FDIC have finalized terms of a guarantee agreement with Citigroup to cover the "possibility of unusually large losses on an asset pool of approximately $301 billion," which will remain on Citigroup's balance sheet.  The guarantee agreement, originally announced on November 23, 2008, provides protection for an asset pool which includes loans and securities backed by residential and commercial real estate, as well as other assets. Click here for today's press release, and click here for the term sheet released on November 23, 2008.

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