US regulators pledge to support banks

America's regulators on Monday moved to shore up sentiment in the country's flagging financial sector, saying they would support systemically important institutions.

The move comes on the back of reports that Citi, the world's biggest bank, is pleading with officials to increase their holding of the bank's stock.

The Federal Reserve, the US Treasury, the Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency and the Office of Thrift Supervision said: "A strong, r