Citigroup may pay more than $285 m to satisfy the accord

Note: This section contains information in English only.
Source: Bloomberg
© Scanpix/AFP

According to lawyers following the court process, Citigroup Inc. might be required to compensate more than it proposed earlier in agreement with US regulators. Last month Citigroup, the third-largest US bank agreed to accept Securities and Exchange Commission's claim that it misinformed investors about $1 billion CDOs linked to mortgage securities. As result, investors lost more than $700 m. Current agreement implies $285 m settlement on collapsed CDOs.

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Thu, 24 Nov 2011 07:42:16 GMT

Moody's leaves US credit rating unchanged

So far Two out of three leading rating agencies have decided to keep US rating unchanged despite the super committee's inability to approve deficit cuts. On Wednesday Moody's announced it will keep nation's Aaa rating. Standard & Poors already on Monday confirmed it will preserve AA-plus. Fitch ratings agency is expected to report its decision next Thursday.     

Thu, 24 Nov 2011 07:18:11 GMT

Japan may be close to downgrading from S&P

According to Japanese Prime minister's administration, Standard and Poor's may reduce country's credit rating in nearest future. Takahira Ogawa, executive of sovereign credit ratings at S&P in Singapore told that Japanese financial situation is worsening every day. He confirmed that Japan is close to downgrade but did not predict when the actual rating cut could take place. Currently Japan is AA- rated by Standard and Poor's.

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