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US regulators identified “serious weaknesses” in Citigroup’s data management as part of a plan detailing how the bank could be wound up in the event of a crisis, in the latest regulatory headache for the Wall Street group. In a review by the Federal Reserve Board and the Federal Deposit Insurance Corporation, the two banking regulators said on Wednesday there were questions as to whether Citi would be able to produce accurate financial information during periods of financial stress. If the issues with Citi’s plan, which was submitted in 2021, are not corrected, the bank could face “additional [regulatory] requirements”.