On August 1st, a source familiar with the matter revealed that Citigroup is working to address compliance issues related to regulations protecting customers' insured deposits. Previously, there were reports that the bank had repeatedly violated the Federal Reserve's Regulation W, which sets restrictions on transactions between banks and subsidiaries. We are fully committed to complying with laws and regulations and have a strong regulatory framework to ensure timely detection, reporting, and remediation of issues, "a Citigroup spokesperson said in an email statement. (Bloomberg)