Citigroup set aside $1.3 billion to cover risks related to turmoil in Argentina and Russia

Citigroup Inc. on Wednesday said it set aside $1.3 billion in the fourth quarter to account for risks in Argentina and Russia, citing shocks to both nations’ economies, and said it booked other charges related to its own organizational overhaul and payments stemming from last year’s bank failures. The disclosure from the bank, in an SEC filing, was made as it prepares to report fourth-quarter results on Friday, and as Argentina undergoes harsh austerity measures and Russia deals with the fallout from its wa ...