Citigroup to fall under ECB supervision

Citi Building Canary Wharf

Citigroup’s move to simplify the legal structure of its banking operations in Europe will probably place it under direct supervision by the continent’s central bank for the first time, said two people with knowledge of the matter.

Citi to quit Argentina custody business

Citi Building Sign

Citibank said it will quit the custody business in Argentina after a U.S. judge refused to let the bank process local bond payments just weeks before a March 31 deadline for the nation to pay bondholders.

Argentina holds gun to Citi's head

Precise 880 22 Caliber Starter Gun

A lawyer for Citibank said the government of Argentina has 'a gun to our head,' threatening the forced takeover of its branch in that country if the bank obeys a U.S. judge’s order blocking it from making payments to holders of $8.4bn in Argentine bonds.