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Citibank to streamline holding companies

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In mid-February, Citibank announced plans to merge its two intermediate bank holding companies, Citigroup Holdings Company Inc. and Citicorp, into Citigroup Inc. The transaction, which is subject to regulatory approval, is expected to occur by the end of the third quarter this year and will transfer all existing debt and outstanding guarantees of Citicorp to Citigroup.

In addition to the merger of the two intermediate banks, Citibank will consolidate its capital markets funding activities into t