- Dubai's Debt Woes Signal New Era for Creditors
- Next Week: Cash In Now Or Wait For A Santa Rally?
- Fed Audit Would Hurt Economic Prospects: Bernanke
- Dubai Stock Selloff May Bring Buying Opportunity
- Longer Lines, Fuller Carts This Black Friday
- Big US Banks May Be Forced to Raise Capital: Bove
- Bank of America Amends Pay for Senior Executives
- Dubai Fallout Is a Correction, Not Another Crisis: El-Erian
- Tiger Woods Out of Hospital After Accident
- U.S. Stocks Fall on Dubai Worries
- Black Friday at Best Buy
- Strategists on Dubai: Avoid 'Rash Moves' Now
- Longer Lines, Fuller Carts This Black Friday
- Dubai Stock Market Fear Has 'Legs': Dennis Gartman
- Obama's Emission Reduction Pledge Paints Future for Autos
- Is Super Bowl Halftime Act Too Old?
- Surprising Options Trades in TiVo Shares
- EA Sports Hopes to Pump Up Sales Through Pop-Up Locations
MOST SHARED
- Tiger Woods Out of Hospital After Accident
- The Good Entrepreneur Winner
- Halftime Report: Dubai - First Ripple Of Larger Crisis?
- Global Selloff From Dubai Woes Shows Signs of Winding Down
- Next Week: Cash In Now Or Wait For A Santa Rally?
- Get Paid Six Figures to Wear a T-Shirt?
- Dubai Spooks Investors But May Bring Buying Opportunity
Text Size 
Citigroup executives say they have enough funding in place to support the $80 billion in structured investment vehicles (SIVs) the bank manages and won't be forced to sell assets at
distressed prices, The Wall Street Journal reported on its web site.
The bank has secured adequate funding through the end of the year after selling some $20 billion in assets since this summer's credit crunch, the Journal reported on Thursday, citing unnamed Citigroup executives.
John Havens, head of Citigroup's alternative-asset management unit, said the bank's SIVs have been able to sell "many billions of dollars" of short-term debt over the past week or so. In an interview with the Journal, he said losses on the sales have been much less than $1 billion.
A Citigroup representative declined comment on the matter.
Worries about banks having trouble supporting their SIVs in the wake of the mortgage market turmoil has led the Treasury Department and major banks such as Citigroup [C
Loading...
()
], JPMorgan Chase [JPM
Loading...
()
] and Bank of America [BAC
Loading...
()
] to work on the creation of a $100 billion fund to buy assets to reduce the impact of panic selling at reduced prices.
Print
Email
- These four sectors will be the next to lead the market.
- Zhu Zhu Pets are this year's must-have toy, fetching $40 or more on eBay.
- From the why-didn’t-I-think-of-that file, we present Jason Sadler, a man whose job is wearing T-shirts.
- It may be the most unusual guide to business you'll read.
- Shopping for a gadget hound? The choices can be baffling. Here are a few that should be a hit.
- "The Who" will be the halftime act for Super Bowl XLIV on Feb. 7 in Miami. Is the NFL behind the times?
Data is a real-time snapshot *Data is delayed at least 15 minutes