The new head of the central bank has also been calling in overdue loans.
Since June, however, they have been forced to start building reserves against all overdue loans.
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Despite that, and the good news this week that their overdue loans had dropped by over a third in the 12 months to September, the banks are still not in good shape.
Consumer mortgage non-earners fell slightly to 7.7% and overdue equipment loans also fell.
The decision to stop charging a hefty premium on their emergency loans is overdue.
It was my job to train her, and the automated library system requires staff to remember the processes, such as warnings about fines, overdue books, recalled loans etc. and to deal with them accordingly.
The number of serious delinquencies, defined as loans that are 90 days overdue or in foreclosure, is also rising.
Similarly, repayment of Eximbank loans made in 1986 for a satellite communication earth station and loans made in 1987 are also overdue.
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Internal restructuring is not the only reason for this slowdown (the bank is also in the midst of an overdue effort to improve the quality of its loans), but it is certainly a big factor.
Loans that are more than 90 days overdue are now 8% of the total.
With defaults on the rise, the loans on Citi's books were overdue for a revaluation.
Most of the loans have been repaid, and none are overdue, the Fed said.
It pays 75% of the value of NPLs on which interest is overdue for three to 12 months, and 20% of loans in arrears for over a year.
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