Citigroup Inc. can be granted a $1.2 billion claim against Lehman Brothers Holdings Inc.’s defunct brokerage and will pay an affiliate of the Lehman parent $167 million to settle a dispute over amounts owed on foreign- exchange transactions, a judge ruled.
Citigroup Inc. sued Barclays Plc for more than $141 million, claiming the London-based bank refused to indemnify it for losses suffered providing foreign-exchange settlement services to Lehman Brothers Holdings Inc.
Ecuador’s bid to reduce poverty by taxing its banks is threatening to deepen the nation’s economic slump, as lenders curb credit and ratchet up interest rates after profits plunged to a three-year low.
The International Swaps & Derivatives Association, a financial industry derivatives group, is being probed as part of a European Union antitrust investigation into how data on credit derivatives is shared.
Citigroup Inc., the third-biggest U.S. lender, named Anthony Santomero chairman of the board that oversees Citibank NA, the lender’s main banking subsidiary that holds almost 70 percent of its $1.94 trillion of assets.
A unit of Bank of America Corp.’s Merrill Lynch was sued by a trust seeking more than $309 million in damages for alleged breaches of representations and warranties related to the sale of more than 5,000 mortgages.