CITICORP <CCI> SEC FILING NOT TIED TO DEBT TALKS
Citibank, the main susbidiary of
Citicorp, said the filing it made with the Securities and
Exchange Commission about the possible impact on earnings
should certain Brazilian loans be placed on a cash basis was
not linked to debt talks that are about to begin with Brazil.
    Citibank said it had told the SEC that its earnings could
be reduced by 50 mln dlrs after-tax in the first quarter, and
190 mln dlrs in the year, if it has to declare 3.9 billion dlrs
of medium- and long-term Brazilian loans non-performing.    
    Rather, Citibank said it was simply complying with the
disclosure requirements contained in the U.S. Securities Acts.
    Citibank said in its filing with the SEC that it was
premature to decide now whether the loans should be placed on a
non-perfoming basis, a view that was echoed by spokesmen of
several other major U.S. banks.    
 Reuter...
