Tag: Citibank Argentina

• Tuesday, April 7th 2015 - 07:46 UTC

  Argentina appeals to Judge Griesa bar on Citibank to process bonds under local law

  

  Argentina has formally appealed to the New York justice system the ruling handed down by district judge Thomas Griesa, which barred intermediary Citibank from processing US dollar denominated debt services issued under Argentine law and which expired on March 31.

• Tuesday, April 7th 2015 - 05:55 UTC

  Argentine regulators inspect Citibank, following dispute over accord with hedge funds

  

  Argentina’s central bank sent regulators to inspect Citibank's headquarters in Buenos Aires on Monday after the head of the branch was suspended amid a legal battle over Argentina's debt. Regulators are working to verify whether the bank was able to maintain normal operations following CEO Gabriel Ribisich's suspension last week, the government news agency Telam said.

• Wednesday, April 1st 2015 - 07:25 UTC

  Clearstream stops settlement on all Argentine bonds; asks clarification from government

  

  Following the CNV securities regulator’s decision to suspend Citibank Argentina from its custody business in the country, Clearstream said in a press release it stopped settlement on all Argentine bonds, and will re-open for non-exchange bonds if it gets clarification.

• Monday, March 30th 2015 - 06:47 UTC

  Citibank suspended in Argentina “until it revokes agreement with Griesa and holdout funds”

  

  Economy Minister Axel Kicillof said the suspension of Citibank Argentina, ordered by the National Securities Commission (CNV) financial watchdog, will stay in place until the bank revokes its agreement not to appeal US Judge Thomas Griesa’s ruling that interest payments on Argentina's restructured local law bonds could not be processed if the bank was allowed to make two one-off payments to help it exit its local custody business.

• Thursday, March 26th 2015 - 09:20 UTC

  Argentina considers Citigroup deal with US Judge Griesa could have violated local law

  

  Argentina's Economy Minister Axel Kicillof said on Wednesday a deal between Citigroup Inc and U.S. judge Thomas Griesa allowing the banking giant to process two Argentine debt payments violated the country's laws.

• Tuesday, March 24th 2015 - 05:16 UTC

  Holdouts of Argentine-law bonds 'reach agreement' with Griesa and Citibank

  

  Paul Singer-controlled NML Capital said that the hedge fund, as well as other holders of Argentine debt, made a deal with Citibank regarding the legal dispute at New York courts over Argentine-law bonds.

• Monday, March 23rd 2015 - 17:20 UTC

  Griesa yields: allows Citibank to process interest payments of Argentine law bonds

  

  United States Judge Thomas Griesa finally authorized Citibank Argentina to process interest payments of bonds issued under Argentine law, with a payment deadline on March 31 and on June 30, and to exit its custody business in Argentina.

• Saturday, March 21st 2015 - 05:55 UTC

  Cristina Fernandez warns Citibank must comply with Argentine law

  

  President Cristina Fernandez warned on Friday that banks operating in Argentina must obey its laws, amid a row over Citibank's refusal to defy a US court order blocking Buenos Aires from repaying its restructured debt. At the end of the month, 31 March, Citibank as custodial has to pay Argentine restructured bonds.

• Thursday, March 19th 2015 - 08:01 UTC

  Argentina asks Citigroup how it will react to Judge Griesa' decision

  

  Argentine Economy Minister Axel Kicillof has revealed the government sent a letter to Citigroup asking how the bank will react, after New York district judge Thomas Griesa decided not to kill an injunction that blocked Citi from processing interest payments on 2.3 billion dollars of Argentina bonds, under Argentine law.

• Wednesday, March 18th 2015 - 08:07 UTC

  Citigroup to exit custodial business in Argentina following ruling from Judge Griesa

  

  Citigroup Inc announced on Tuesday it plans to exit its custodial business in Argentina as soon as possible, after a US judge refused to lift an injunction that blocked the bank from processing interest payments on 2.3 billion of Argentina bonds, issued under Argentine law.