Key events at Citi leading up to repaying funds

Here are highlights of recent changes at Citigroup Inc. leading up to the bank's announcement Monday that it will repay $20 billion in rescue funds:_ Oct. 14, 2008: Citigroup is one of eight major banks in the first round of companies to receive government aid under the Troubled Asset Relief Program._ Jan. 16, 2009: Citigroup announces plans to split into two parts: Citicorp and Citi Holdings, with plans to sell off the risker assets contained in Citi Holdings._ Jan. 21: Longtime board member Richard Parsons named chairman._ Feb. 27: Government says it will swap $25 billion in bailout funds for a roughly one-third stake in the bank._ March 5: Shares drop below $1._ May 1: Citigroup agrees to sell its Japanese brokerage business, Nikko Cordial Securities Inc., and some parts of Nikko Citigroup's Japan business for about $5.6 billion._ July 30: Citi sells its entire majority stake in a Japanese asset management company, Nikko Asset Management, for about $795 million._ Aug. 31: Citigroup sells $1.3 billion in credit card assets._ Oct. 9: Citi sells Phibro commodities trading division to Occidental Petroleum Corp., avoiding a showdown with regulators over the high compensation paid to a trader in the unit._ Nov. 24: Citi sell its Diners Club North American franchise to BMO Financial Group for undisclosed terms._ Dec. 14: Citigroup announces it will repay $20 billion it owes in bailout money and unwind a loss-sharing agreement on nearly $300 billion in risky assets. The government also says it plans to sell its nearly 34 percent stake in the bank over the next year. Copyright © 2009 The Associated Press. All rights reserved.

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