A Citi sign is seen at the Citigroup stall on the floor of the New York Stock Exchange, October 16, 2012.
REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsWASHINGTON, Oct 13 (Reuters) - Big bank executives warned a number of products and services could become uneconomical if new proposed bank capital hikes are adopted as written, but said they were hopeful they could win some changes.
Citi Chief Financial Officer Mark Mason said the proposal would lead to a 16% to 20% increase in the bank's capital.
The bank is reviewing products and operations, he said, highlighting equity investments, which will also be deemed much riskier under the rules.
Citi is also reviewing credit products and where they may need to reprice those, and whether they need to restructure any of their markets positions.
Persons:
Brendan McDermid, Jeremy Barnum, Barnum, Michael Barr, Banks, Mark Mason, Mason, Wells, Michael Santomassimo, Santomassimo, Tatiana Bautzer
Organizations:
Citi, Citigroup, New York Stock Exchange, REUTERS, Rights, Big, JPMorgan, . Federal, Basel III, Thomson
Locations:
Wells Fargo, Basel