Citi takes $49bn SIV debt onto balance sheet

Citigroup is absorbing $49 billion of structured investment vehicle debt onto its balance sheet. The bank says the action is a response to SIV ratings reviews from Moody's and S&P and the reduction of liquidity in the SIV-related asset-backed commercial paper and medium-term note markets.

According to Citi, the move is designed to support the ratings of the SIVs' senior debt and to allow the SIVs to pursue their asset reduction plan. That plan has seen Citi's SIV assets reduce from $87 billion in

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