Business

February 21, 2014 2:27 PM

New transcripts: Teetering Wachovia was losing $1 billion in deposits a day

Charlotte-based Wachovia was losing an average of $1 billion in deposits a day in the weeks leading up to its emergency sale to Citigroup and only had cash on hand to survive a few more days, a Fed official says in newly released meeting transcripts from 2008.

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