November 3, 2007 (LPAC)--The Board of Directors of Citigroup, the biggest U.S. bank, will hold an emergency meeting at its headquarters in New York tomorrow, Sunday. One agenda item will be to accept the resignation of CEO Charles Prince. Other likely business reported by the Wall Street Journal and other sources includes:

• Writing off more billions of worthless securities, on top of the $3.3 billion in writeoffs Citi has just announced. Deutsche Bank analyst Mike Mayo has said that the big banks will have to write off another $10 billion immediately, most of it held by Citigroup and Merrill-Lynch.
• The SEC is said to be investigating Citigroup's reporting of its $80 billion of Structured Investment Vehicle's (SIVs). Meanwhile, Citigroup is expected to file another SEC quarterly report next week.
• Citigroup is in danger of falling below the minimum capital adequacy allowed for a Federally chartered bank, if it has not already done so.