Citigroup Inc., the biggest U.S. bank to have regulators reject its capital plan this year, dismantled a board committee created during the credit crisis to police the disposal of toxic and unwanted assets, Bloomberg News reported today. About $200 billion of such assets remained when directors broke up the Citi Holdings oversight panel last month under new Chairman Michael O’Neill. Assets in Citi Holdings have shrunk from $600 billion since Chief Executive Officer Vikram Pandit created the unit after the bank almost collapsed in 2008. The division, which has posted losses of $19 billion since its inception, still holds Spanish and Greek loans, overdue U.S. mortgages, bonds worth a fraction of their face value and a consumer-finance lender that Pandit has yet to sell.
