Fred Business News - Citigroup Inc.'s chief financial officer on Thursday warned that the nation's largest bank by assets would suffer more "substantial" writedowns on debt investments in the second quarter.

CFO Gary Crittenden also said that there will likely be more writedowns related to leveraged loans and bond insurers.

Citigroup shares fell 77 cents, or 3.8%, to $19.64 by early afternoon trading.

Crittenden did say that Citi's second-quarter writedowns on structured debt products known as collateralized debt obligations, or CDOs, would be lower than they were ...   more »