Citi Launches New Deposit Solutions to Support Clients’ Sustainability Agenda
The two new deposits – Sustainable Time Deposit (TD) and Sustainable Minimum Maturity Time Deposits (MMTD) - deliver competitive yields and are based upon Citi’s green and social bond frameworks, supporting the
Funds invested into the deposits are allocated to finance or refinance assets in a portfolio of eligible green and/or social finance projects, based on criteria set in the Citi Green Bond Framework, Social Finance Framework and Social Bond for Affordable Housing Framework.
Types of projects being financed include:
- Green projects including renewable energy, energy efficiency, sustainable transportation, green building, and water quality and conservation.
- Social projects that expand access for low-income communities and women in emerging markets including affordable basic infrastructure for water/sanitation and digital connectivity, as well as essential services such as healthcare, education, affordable housing, and financing for entrepreneurs and smallholder farmers.
Affordable Housingprojects in the U.S.including the construction, rehabilitation, and/or preservation for low and moderate income populations.
Both deposits are now available in the
Citi’s Frameworks are aligned with the recommendation of the International Capital Market Association’s Green Bond Principles and Social Bond Principles and have been assessed by a leading independent ESG and corporate governance research, ratings, and analytics firm.
As cash deposit transactions, TD or MMTD are not securities and the return of the TDs and MMTDs are not linked to the return of the underlying assets.
Citi Treasury and Trade Solutions (TTS) enables our clients' success by providing an integrated suite of innovative and tailored cash management and trade finance services to multinational corporations, financial institutions and public sector organizations across the globe. Based on the foundation of the industry's largest proprietary network with banking licenses in over 90 countries and globally integrated technology platforms, TTS continues to lead the way in offering the industry's most comprehensive range of digitally enabled treasury, trade and liquidity management solutions.
Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management.
There is currently no market consensus when assessing whether or not a product can be classified as 'sustainable'. The legislation and regulatory landscape is undergoing rapid changes which could affect Citi's position when considering its investments in certain assets. Citi may re-evaluate its asset pools, and all applicable eligibility requirements in the future following regulatory developments; this is to ensure compliance with legal requirements when qualifying an asset as 'sustainable'. To the extent any such changes are made, the updated framework will be published on https://www.
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