Citigroup entered into a $500 million credit agreement with a leveraged fund mana Falcon Hedge Fundged by its Falcon Plus Strategies, which makes it the primary beneficiary of the fund.
As part of this agreement, Citigroup will move the fund's assets and liabilities onto its balance sheet, increasing Citigroup’s assets and liabilities by about $10 billion.
Separately, Citigroup is in discussion with the SEC about a letter the SEC’s finance division sent primarily regarding Citigroup’s hedging activities and variable interest entities.
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