Citigroup‘s chief executive, Vikram S. Pandit, likes to talk about transparency, and on Wednesday he repeated his call for new ways to compare the risks at different banks....
Taking questions at the Citi Financial Services Conference at the Waldorf-Astoria in New York, Mr. Pandit was asked whether the bank’s risk management had improved since the financial crisis.
As part of his response, he reiterated his belief, stated in an opinion piece in The Financial Times in January, that banks and regulators could make new types of disclosures that would allow investors to compare risks across different banks. “Let’s make sure we get a level playing field and let’s get the information out in the market place so they can decide,” he said Wednesday.
That’s an admirable aim, but ... until investors get a better idea [of Citigroup's exposure details]... they have reason to call on Mr. Pandit to first apply more transparency to his own bank.