NEW YORK: Citigroup Inc is pausing buybacks of its stock this quarter because of the expected impact of a new capital rule related to derivatives risks, Chief Financial Officer Mark Mason said on Wednesday.
Mason said the new rule, which banks must adopt by the first quarter, will likely increase Citigroup's risk weighted assets by $60 to $65 billion and impact its Common Equity Tier 1 (CET1) capital ratio by 50 to 60 basis points.
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