Institutional Investors: Citigroup

Citigroup: The offer will release Citigroup from having to buy back mortgages sold to the 68 trusts. , according to BBC. Citigroup said the move resolved a "legacy issue from the financial crisis and we are pleased to put it behind us." A group of 18 institutional investors asked the bank to make the offer to the trustees of 68 Citi-sponsored trusts. The trusts had issued $59.4bn in residential mortgage securities from 2005 to 2008. (news.financializer.com). As reported in the news.