The U.S. government is selling $ 240 million in bonds issued by Citigroup, during the financial crisis, the federal government guarantees in exchange for possible losses on banks.
By the Federal Deposit Insurance Corporation (FDIC) sale of government holdings of U.S. third largest bank in the end. Citigroup said in a regulatory filing on Monday that it will not receive any proceeds of the sale.
Federal Deposit Insurance Corporation bonds in November 2008 received the potential loss of hundreds of billions of dollars in loans guaranteed by the United States. Citigroup is the only one bank, FDIC during the financial crisis took a stake.
New York-based Citigroup during the financial crisis is one of the worst-hit banks. It received a $ 4.5 billion bailout from the Treasury, one of the largest rescue plan. Citigroup repaid the bailout.
 



Other News:
FDIC selling $2.4B in Citigroup bonds from crisis
House preps for debate stopgap spending bill
Ford board open to earlier exit for CEO Mulally
Millionaire entrepreneur and Internet plan key in Australian election
Japan ups GDP growth to 3.8 percent in April-June
Euro zone sentiment turns positive for first time in over two years
Japan's Abe shakes hands with China'S Xi at G20
Carmakers upbeat at Frankfurt as market steadies