Citi. A bigger bank but a smaller problem !! Yet still £44m26 Nov 2019 13:14
It found the bank did not have enough staff working on regulatory reporting to ensure it was accurate, while its documentation was “inadequate” for a firm its size.
Overall its governance and oversight of regulatory reporting was “significantly below the standards expected of a systemically important institution”, the PRA added.
While it found Citi had started to address issues with data quality in its regulatory reports by the end of 2018, this did not ease its concerns over the oversight and governance failings.