"Debt Conduits Are Hovering Over Citigroup" Says WSJ

Sep 05 07

"Debt 'Conduits' Are Hovering Over Citigroup" Says WSJ. "Citigroup ... owns about 25% of the market for SIVs [structured investment vehicles], representing nearly $100 billion.... Yet some investors worry that if vehicles such as Centauri [Citi's largest SIV] stumble, either failing to sell commercial paper or suffering severe losses in the assets it holds, Citibank could wind up having to help by lending funds to keep the vehicle operating or even taking on some losses," says the Journal. "Citigroup has told investors in its SIVs ... that they are sound and pose no problems".

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