Citigroup received a U.S. government rescue package that shields the bank from losses on toxic assets and injects $20 billion of capital, pushing the stock after its 60 percent plunge last week.
The second-biggest U.S. bank by assets surged as much as 72.4 % in New York Exchange after the Treasury, Federal Reserve and Federal Deposit Insurance Corp. announced the aid plan in a joint statement. In return for the cash and guarantees, the government will get $27 billion of preferred shares paying an 8 percent dividend.
