Citigroup has committed to provide a support facility for its own structured investment vehicles (SIVs), taking $49 billion in non-cash assets on to its own balance sheet.
The majority of assets held by the seven vehicles - called Beta, Centauri, Dorada, Five, Sedna, Vetra and Zela - are rated Aaa (54%) and Aa (43%) by Moody's Investors Service. The portfolios contain no direct subprime exposures and $51 million of indirect subprime exposures, the bank says.
Citigroup last year acquired $10 bill
The week on Risk.net, July 7-13, 2018Receive this by email