Citigroup (C) Plans To Boost Lending By $36.5B

Citigroup (NYSE: C) is planning to use $36.5 billion of its U.S. government capital infusion for new mortgages, credit card loans and to buy mortgage-backed securities.

Citi is putting capital to work in the following areas:
- U.S. residential mortgage activities ($25.7 billion)
- Personal and business loans ($2.5 billion)
- Student loans ($1 billion)
- Credit card lending ($5.8 billion)
- Corporate loan activity ($1.5 billion)

Citigroup is expected to announce details on Tuesday of how it will increase lending using TARP money.

Cit said it extended approximately $75 billion in new loans to people in businesses in the U.S. in the forth quarter.

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