Citi revised upwards its estimate of additional loan-loss reserves needed when new accounting standards take effect in 2020.

In an earnings call earlier today (April 15), the bank's chief financial officer, Mark Mason, said the effect of moving to the current expected credit loss (CECL) regime would be to hike credit reserves by 20–30%. In the bank's annual filing for 2018, it had indicated an uplift of between 10% and 20%. The bank said the reserve build would be reflected in a decrease to