Bloomberg TV interviews Peter Crane on "Citigroup's Bail-Out of Seven SIVs"

Dec 15 07

Bloomberg TV interviews Peter Crane on "Citigroup's Bail-Out of Seven SIVs". On Citi's plan to back its affiliated structured investment vehicles, Crane says, "Money-market mutual funds are one of the biggest investors in SIVs, so this is good news for money funds themselves and for money fund investors.... This removes a bug chunk of worry from those funds." Crane adds that the move won't impact Citi as much as some expect, "The SIVs don't really need all the money at once. What citigroup will be doing in effect is extending lines of credit as the issues of commercial paper and medium-term notes come due."

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