SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
____________________________
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): September 1, 1998
Citicorp
(Exact name of registrant as specified in charter)
Delaware 1-5738 13-2614988
(State or other jurisdiction (Commission File Number) (IRS Employer
of incorporation) Identification Number)
399 Park Avenue, New York, New York 10043
(Address of principal executive offices) (Zip Code)
Registrant's telephone number,
including area code: (212) 559-1000
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Item 5. Other Events
On September 1, 1998, Citicorp sent a message to all employees, which stated
that many financial institutions are being affected by the events in Russia,
directly or indirectly, and the current extreme volatility in world financial
markets.
The message went on to say that at this point Citicorp estimates that total
Russia-related losses, including trading, will reduce its after-tax earnings by
approximately $200 million in the third quarter. Any continued weakness in the
global securities markets will affect the contributions to earnings of venture
capital and other portfolios as well.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
CITICORP
(Registrant)
By:/s/ Roger W. Trupin
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Roger W. Trupin
Vice President and Controller
Dated: September 2, 1998
