8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of Report (Date of earliest event reported) June 28, 2013

Citigroup Inc.

(Exact name of registrant as specified in its charter)

Delaware	1-9924	52-1568099
(State or other	(Commission	(IRS Employer
jurisdiction of	File Number)	Identification No.)
incorporation)

399 Park Avenue, New York, New York	10022
(Address of principal executive offices)	(Zip Code)

(212) 559-1000

(Registrant's telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Citigroup Inc.

Current Report on Form 8-K

Item 2.02 Results of Operations and Financial Condition.

Item 8.01 Other Events.

On July 1, 2013, Citigroup Inc. (Citi) announced an agreement with Fannie Mae regarding resolution of potential future mortgage repurchase claims. A copy of Citi’s related press release, filed as Exhibit 99.1 to this Form 8-K, is incorporated by reference in its entirety and shall be deemed “filed” for purposes of the Securities Exchange Act of 1934, as amended.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits:

Exhibit No. Description

         99.1 Press release of Citigroup Inc. dated July 1, 2013

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SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this Report to be signed on its behalf by the undersigned hereunto duly authorized.

	CITIGROUP INC.
Dated: July 1, 2013	By:	/s/ Rohan Weerasinghe
		Rohan Weerasinghe General Counsel and Corporate Secretary

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EXHIBIT INDEX

Exhibit No. Description

         99.1 Press release of Citigroup Inc. dated July 1, 2013

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EX-99.1

For Immediate Release

Citigroup Inc. (NYSE: C)

July 1, 2013

Citigroup Announces Agreement with Fannie Mae to Resolve Potential Future Mortgage Repurchase Claims

Agreement covers loans originated between 2000 and 2012

New York -- Citigroup today announced an agreement with Fannie Mae to resolve potential future repurchase claims for breaches of representations and warranties on 3.7 million residential first mortgage loans sold to Fannie Mae that were originated between 2000 and 2012 (“Covered Loans”). Citi agreed to pay Fannie Mae $968 million under the agreement, substantially all of which was covered by Citi’s existing mortgage repurchase reserves as of March 31, 2013.

Jane Fraser, CEO of CitiMortgage, said, “We have a strong and productive relationship with Fannie Mae. This agreement resolves substantially all potential future repurchase claims from them for loan originations from 2000 to 2012. As we work to deepen and enhance financial relationships with our clients, we will continue to focus on the production of high-quality mortgage loans.”

Citi’s agreement with Fannie Mae covers potential future origination-related representation and warranty claims on the Covered Loans. It does not release Citi’s liability with respect to its servicing or other ongoing contractual obligations on the Covered Loans. It also does not release liability to a population of less than 12,000 loans originated between 2000 and 2012 with certain characteristics such as loans sold with a performance guaranty or under special credit enhancement programs. Citi currently believes it is adequately reserved for the loans not covered by the agreement. Citi has and will continue to work with Fannie Mae on the timely repurchase of any mortgage loans sold to Fannie Mae that do not meet Fannie Mae’s requirements.

Citi will issue its second quarter results on July 15, 2013.  Citi currently estimates that it will record a residential mortgage repurchase reserve build of $245 million in the second quarter of 2013, which is generally consistent with its repurchase reserve builds in recent quarters.

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Citi
Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citigroup provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management.

Additional information may be found atwww.citigroup.com | Twitter:@Citi | YouTube:www.youtube.com/citi | Blog: http://blog.citigroup.com | Facebook: www.facebook.com/citi | LinkedIn:www.linkedin.com/company/citi

Certain statements in this release, including the adequacy of Citi’s loan loss reserves for loans not covered by the agreement with Fannie Mae and Citi’s estimated residential mortgage repurchase reserve build for the second quarter of 2013, are “forward-looking statements” within the meaning of the rules and regulations of the U.S. Securities and Exchange Commission. These statements are based on management’s current expectations and are subject to uncertainty and changes in circumstances. Actual results and capital and other financial conditions may differ materially from those included in these statements due to a variety of factors, including but not limited to the precautionary statements included in this document, completion of the final financial and accounting review of Citi’s results of operations for the second quarter of 2013, and trends in residential mortgage repurchase claims, repurchases/make-whole payments and default rates. More information about these factors and other factors that may affect Citi’s future results is contained in Citi’s filings with the U.S. Securities and Exchange Commission, including without limitation the “Risk Factors” section of Citi’s 2012 Annual Report on Form 10-K. Precautionary statements included in such filings should be read in conjunction with this document.

© 2012 Citigroup Inc. Citibank, N.A., Member FDIC. Citi and Citibank and Arc Design are registered service marks of Citigroup Inc.

Media Contact:	Mark Costiglio	(212) 559-4114
Investors:	Susan Kendall	(212) 559-2718
Fixed Income Investors:	Peter Kapp	(212) 559-5091