The U.S. government outlined a massive rescue package for Citigroup Monday that would inject another $20 billion into the ailing banking giant.
The additional $20 billion follows a $25 billion injection into Citigroup earlier this year as part of the $700 billion bank bailout Congress passed in October.
Concerns about the fate of the 196-year-old firm's exposure to toxic mortgage assets rattled markets worldwide last week and saw Citigroup stock lose close to two-thirds of its value, ending Friday at below $4 a share.
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All About Citigroup Inc. • Federal Deposit Insurance Corporation • U.S. Department of the Treasury