On Air Now

Upcoming Shows

Program Schedule »

Listen

Listen Live Now » 590 AM Kalamazoo, MI

Weather

Current Conditions(Kalamazoo,MI 49001)

More Weather »
57° Feels Like: 57°
Wind: ESE 12 mph Past 24 hrs - Precip: 0”
Current Radar for Zip

Today

Cloudy/Wind 60°

Tonight

Showers 45°

Tomorrow

AM Rain 61°

Alerts

Citigroup faces multiple probes over currency trades

A man walks past a Citibank branch in lower Manhattan, New York October 16, 2012. REUTERS/Carlo Allegri
A man walks past a Citibank branch in lower Manhattan, New York October 16, 2012. REUTERS/Carlo Allegri

(Reuters) - Citigroup Inc , the U.S. bank with the biggest international business, said on Friday that U.S. government agencies and authorities from other jurisdictions are investigating its foreign-exchange trading.

The bank has put its chief currency dealer in London on leave, it was reported earlier this week, in an action that mirrors developments at a number of banks based in Europe, as well as at JPMorgan Chase & Co , the biggest U.S. bank. The actions come amid investigations by regulators of possible manipulation of currency markets.

Citigroup is the third-biggest U.S. bank by assets. The company sees its foreign exchange desks as an important complement to the payment and cash management services it sells to multinational companies.

The company made the statements in a quarterly filing with the U.S. Securities and Exchange Commission.

(Reporting by David Henry and Peter Rudegeair; Editing by Gerald E. McCormick)

Comments