SA-CCR halts Citi’s buybacks plan

Bank will pause stock buybacks until new year to mitigate new methodology impact and create extra capital headroom

The adoption of the new standardised approach to counterparty credit risk (SA-CCR) is set to shave 50 to 60 basis points off Citi’s Common Equity Tier 1 (CET1) ratio, forcing the bank to temporarily pause stock buybacks until the new year, its chief financial officer Mark Mason said at the Goldman Sachs 2021 US Financial Services Conference on December 8.

Risk-weighted assets (RWAs) – the ratio’s denominator – are projected to inflate by between $60 billion and $65 billion due to the new rules

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