Citi Reserves $25.7B For Residential Mortgages

Citigroup Inc. (C: 3.4299 -6.03%), the recipient of $45 billion through the Treasury Department’s Troubled Asset Relief Program, on Tuesday released a progress report detailing the usage of government bailout funds through the fourth quarter 2008. The distribution of some $36.5 billion so far has been made through various lending capacities, “to help expand available credit for consumers and businesses; restore liquidity and stability to the capital markets; and support the recovery of the U.S. economy,” according to Citi’s press release regarding the report.

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