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Saturday, July 16, 2011

Citigroup Estimates It Has $22 Billion at Risk in Five European Countries: WHO is recommending to buy NOW?

Citigroup Estimates It Has $22 Billion at Risk in Five European Countries: WHO is recommending to buy NOW?

"Citigroup Inc. (C), the third-biggest U.S. bank, estimated it has at least $22 billion in loans, trading assets and other “exposures” to Greece,Italy, Portugal, Spain and Ireland.
The net figure includes $13 billion in so-called funded exposure as of June 30, mostly in the form of credit to financial institutions and companies, according to an earnings presentation today on the New York-based firm’s website. Sovereign entities account for “a little more than” $1 billion of that amount, it said."

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