Bucking wider trend, Citi’s cash trove ends 2022 up 31%
Liquid balances surged 14% in the last quarter of the year alone
Citi’s cash balances with the Federal Reserve and other banks rose by 31% in 2022, in stark contrast with its US peers, whose cash holdings were down by as much as a third.
As of December 31, Citi held $342 billion in accounts at central and commercial banks, up from $262 billion at end-2021 and the most of any US bank but JP Morgan. Balances rose 14% in three months, in steep acceleration from previous quarters.
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