Citigroup to Take $2.7B 4Q Charge for Legal Costs

The transcript covers a conference where Citigroup's CEO, Michael Corbat, announces $2.7 billion in legal costs and $800 million in repositioning expenses for the fourth quarter. This news has led to a 2.4% drop in Citigroup's stock price. The transcript also reviews Citigroup's past legal expenses and ongoing investigations related to currency markets, Libor, and money laundering, particularly involving its unit in Mexico.

What total amount did Citigroup announce for legal and repositioning expenses in the fourth quarter?

• $2.7 billion

• $800 million

• $3.5 billion

• $1.5 billion

How did Citigroup's stock price react to the announcement of the expenses?

• It remained stable

• It increased by 2.4%

• It increased by 5%

• It decreased by 2.4%

What was the trading price of Citigroup's stock before the announcement?

• $57.30

• $54.50

• $56.20

• $55

What was the amount of legal expenses Citigroup faced in the third quarter?

• $951 million

• $800 million

• $402 million

• $2.7 billion

Which investigations are related to Citigroup's fourth quarter legal expenses?

• Healthcare and pharmaceuticals

• Technology and innovation

• Real estate and housing

• Currency markets and Libor