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Our Citigroup Global Government Affairs group interacts with elected officials and policymakers globally through company outreach or industry association activities, including lobbying, public policy forums and public seminars.-  GLOBAL CITIZENSHIP REPORT 2013
 

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"In this time of rapid change, corporate citizenship remains tightly linked to our business strategy. We focus our citizenship efforts on the three areas where we can achieve the greatest impact: promoting financial inclusion and economic empowerment, advancing environmental sustainability, and valuing our people." -Michael Corbat, Chief Executive Officer, Citigroup

"Citigroup's Achievements" "Citigroup's Global Workforce" "Citigroup's People"

"All of our achievements would not be possible without the dedication of our employees—nearly 250,000 across 160 countries. Our global workforce provides creative and innovative ideas and solutions to clients to enable progress. Our people have embraced our corporate citizenship efforts and we could not succeed without their tireless commitment...".-Michael Corbat, Chief Executive Officer, Citigroup
 

"Corporate Citizenship"  "Global business"

Corporate citizenship is a unifying theme across our business operations and global locations. Our approach is rooted in our commitment to Responsible Finance—business conduct that is transparent, prudent and dependable. In pursuing our citizenship agenda, we consider the viewpoints of our stakeholders, the lessons of Citi’s experiences and the risks and opportunities of our global business. - GLOBAL CITIZENSHIP REPORT 2013
 

Preserving Homeownership and Affordable Housing In 2013, Citi processed $58 billion in U.S. mortgage originations, serving the needs of homeowners. -GLOBAL CITIZENSHIP REPORT 2013

Fed guidance has been clear: Aggressive policies that began in 2008 will last into 2015. But even when the Fed moves away from such balance sheet actions—and since we see inflation being modest for the medium term—rates may well stay historically low for some time after that. While Fed policy is complicated and has many implications, for investors it will have the intended effect of squeezing them out of “safe haven” assets and forcing them—against their will and with great disquiet—further up the risk curve than they feel comfortable.
Beyond working to ensure funding liquidity and stability in capital markets, the Fed is also trying to avoid a Japan-style deflation in the U.S. It is using monetary easing to minimize global deleveraging and hopefully gin up economic and financial activity in the process. To this end, the Fed is clearly targeting housing and jobs, where they think they’ll get more bang for their—literal—buck. The Fed can do this by creating both positive and negative incentives.
And this is global. Central banks around the world are using monetary policy to alter incentives and sentiment in response to a softening global economy. The net effect upon investors of this policy path is that monetary policy will continue to pick the pockets of savers.
This is a true investment vice because on the other side of the square root-shaped recovery that has been experienced since 2009 and Fed policy that is driving returns toward zero and real rates negative, is the reality that investors still have the concomitant competing demand of a real return on their assets. These ostensibly mutually exclusive constraints constitute the “squeeze play.”
- Russell Investments, 2013 Global Market Outlook [Mike Dueker, Ph.D. Chief Economist]

From: Faith Franck
Subject: Volcker Rule -- Prohibitions and Restrictions on Proprietary Trading and Certain Interests In, and R
Comments:
I am really tired of the total absence of any kind of regulation of the banking and brokerage firms. They have made this financial mess we are in and they are continuing to make further messes -- just like an untrained puppy.
When are you going to start doing your jobs and pass a really strong Volker rule so that these financial firms don't continue to take us and the rest of the world to the brink once more -- we haven't recovered from their last debacle.
The losses revealed at JP Morgan Chase show our largest banks will continue to take the same kind of risks that led us to the financial crisis unless they are restrained by effective new rules. I urge you to implement a strong Volcker Rule to establish the kind of firewall that Congress mandated between market speculation and basic banking services. That's the same principle that informed the Glass-Steagall rules that served our economy well from the 1930s to the 1990s. We need to make the same principles work today.
Please write a final rule that keeps the best elements of your proposed rule, but eliminates loopholes that would permit banks to evade the purpose of the law. A strong Volcker Rule should never permit the kind of massive speculative bets that JP Morgan took to be disguised as 'hedging'. Hedging is NOT designed to be a profit center -- somehow, this one ended up being a really good profit center for JP Morgan Chase.
Since Jamie Dimon also sits on the NY Fed Board, I am sure he won't be chastised and I'm also sure that he shouldn't be regulating himself -- that's what any ordinary person would call a conflict of interest
Proposal: 1432 (RIN 7100 AD 82) Reg. V V - Proprietary Trading and Certain Interests In, and Relationships

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Global Money Laundering

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Meeting between Governor Tarullo and Various Industry Representatives May 2, 2012
Participants: Governor Daniel K. Tarullo; Jeremy Newell (Federal Reserve Board)
Lloyd Blankfein (Goldman Sachs); Richard Davis (US Bancorp); Jamie Dimon (JPMorgan Chase); James Gorman (Morgan Stanley); Jay Hooley (State Street Corporation); Brian Moynihan (Bank of America)

Summary: Governor Daniel K. Tarullo and Federal Reserve staff met with representatives of several U.S. banking organizations (the "Bank Representatives") to discuss the Federal Reserve's 2012 Comprehensive Capital Analysis and Review. During the meeting, the Bank Representatives also presented their views regarding several pending rulemaking proposals under the Dodd-Frank Wall Street Reform and Consumer Protection Act (the "Dodd-Frank Act"). With respect to these topics, Governor Tarullo reminded the Bank Representatives that (i) their comments would be considered together with all other comments and feedback received from other interested parties and (ii) neither Governor Tarullo nor Federal Reserve staff would, during the meeting, respond or reply to views expressed by the Bank Representatives. In particular, the Bank Representatives presented their views regarding the following rulemaking proposals:
(i) The Board's proposed rules to implement single-counterparty credit limits under section 165(e) of the Dodd-Frank Act, including the Bank Representatives' concerns regarding the extent to which the proposed rules would overstate credit risk for certain transactions and would establish a more stringent credit exposure limit for the largest financial firms; (ii) Proposed rules issued by the Board and other Federal agencies to establish alternatives to credit ratings under section 939A of the Dodd-Frank Act, including the Bank Representatives' concerns regarding the extent to which proposed alternatives would overstate the risk of certain assets; (iii) Proposed rules issued by the Board and other Federal agencies to implement the proprietary trading and hedge fund and private equity fund restrictions of section 619 of the Dodd-Frank Act, including the Bank Representatives' concerns regarding the extent to which the proposed rules would constrain market-making activity and the liquidity of trading markets; (iv) Proposed rules issued by the Board and other Federal agencies to implement the risk retention requirements of section 941 of the Dodd-Frank Act; and (v) The extent to which potential extraterritorial application of rules implemented under the Dodd-Frank Act may negatively impact the international competitiveness of U.S. banking firms.

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