Federal Deposit Insurance Corporation

Federal Reserve Bails Out Ailing Citigroup 

The U.S. Treasury Department, Federal Reserve and the Federal Deposit Insurance Corp. have entered an agreement to bail out troubled Citigroup Inc. [stock C][/stock] with “a package of guarantees, liquidity access, and capital,” according to a joint statement late Sunday. “The U.S. government is committed to supporting financial market stability, which is a prerequisite to restoring vigorous economic growth,” the statement read.