Citigroup is one of five of America’s 30 largest banks to have its capital return plans rejected by the Federal Reserve. As part of its annual review, the Fed vets too-big-to-fail banks to see how well they can weather economic stress. Citigroup’s plan to buyback $6.4 million in shares and increase the quarterly dividend to 5 cents in fiscal 2014 was seen as too risky to approve in the context of the bank’s current financial position. Citibank will submit a revised plan for review.
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