US Fed terminates Citi notices that demanded bank improve risk controls, sources say 

The U.S. Federal Reserve has told Citigroup it has closed formal notices requiring the bank to fix trading risk management weaknesses, according to people with knowledge of the matter. 

Why it matters 

The resolution of the notices, which Reuters is reporting for the first time, is a boost for chief executive Jane Fraser’s years-long goal of addressing risk management and control issues that have weighed on the bank’s profitability.