One of many financial institutions, big losses

Crossville TN

Description

As Russia's invasion of Ukraine continues, many large banks and corporations are taking stock of their overall exposure in the country and preparing for potential losses, as war destabilizes the region and rocks the Russian economy. Being a highly global bank, Citigroup (NYSE: C) faces more exposure in the country than most U.S. banks. Earlier this year, Citigroup disclosed in a regulatory filing that it had as much as $10 billion of exposure in the country and faced as much as $4 billion in losses in a severe adverse scenario. This is a global financial war.