FOX Business Network’s Charlie Gasparino reports Citigroup (C) is lobbying to “delay Dodd-Frank and Bassel III requirements” in an effort to preserve their stock price amid concerns they will need to issue more shares.
Excerpt from the report, courtesy of Fox Business Network:
On Citigroup’s effort to raise their stock price above $10 a share:
“Sources tell FOX Business Network Citi is lobbying in DC among lawmakers to delay Dodd-Frank and Bassel III requirements. These are requirements on capital. Investors are really worried about Citgroup’s stock price and whether Citi has to issue more shares.”