Citi to submit revised capital plan to the Fed

SAN FRANCISCO (MarketWatch)
Citigroup , one of the four financial firms which fell short of the Federal Reserve's stress criteria, plans to submit a revised capital plan later this year
 "The results [of the test] showed that Citi exceeded the stress test requirements without the capital actions Citi proposed
 However, the Federal Reserve advised Citi that it objected to Citi's proposed return of capital to shareholders," said Citi in a statement on Tuesday
Still, Citi will maintain its current dividend levels and may redeem certain outstanding trust preferred securities
 It also plans to engage further with the Fed to understand their stress loss models and called on the central bank to relasae them publicly
 "We believe greater transparency in this process will best serve all banking institutions and their shareholders as well as the international regulatory community and market participants, and will encourage a level playing field globally," it said.