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The Government said late Monday that it had reached an agreement to sell its remaining funds of the common shares of Citigroup and end turn a profit of 12 billion dollars by the giant Bank rescue plan.

The Department of the Treasury Board stated that final offer of the shares of approximately 2.4 billion shares of Citigroup Inc. was price $4.35 per share.

With the proceeds of the sale, the Government will be achieved $ 57 billion on its large bank rescue package.

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By selling today all remaining shares of Citigroup, we were able to block substantial profits for the taxpayer and to avoid future risks, said Tim Massad, officer of the Treasury, who leads the program rescue."

"With this transaction, we advanced our goals of recover TARP funds, to protect the taxpayer and how the company ownership stakes in private companies, Government" Massad said in a release.

"Step".
Citigroup received 45 billion in support of the taxpayer in late 2008 in one of most important Government struggled to contain the worst financial crisis hitting the country since the 1930s Bank rescues.

"CITI is pleased the Department of the Treasury established to plans to leave his remaining funds of the common shares of Citigroup." We are very grateful for the support provided by the Treasury to the financial crisis, "Citigroup Jon needed spokesman said in a statement."

"This is an important step for the Government and Citigroup," James Angel, a professor at Georgetown University finances, told the Wall Street Journal. "He pointed out that the company was fully privatised and parole is."

Linus Wilson, a professor at the University of Louisiana at Lafayette, finance, said the newspaper sales of a Government strategy was a success. "They have a risk by not at the beginning of the sales or selling too much at a time", he said.

The move to sell the remaining shares in a large offering following successful initial public offering last month in General Motors Corp., which significantly reduces the participation of the Government.

The Government introduced 49.5 billion in GM for its giant automaker bailout plan. Last week, Treasury Board announced that he had received 1.8 billion additional dollars in net proceeds from the sale of stock of GM, bringing the total until it has received a public offering of GM stock at $ 13.5 billion.

The Treasury Board should start selling its stake in the aging insurer American International Group next year and expects a profit on the complicated series of transactions.

George Ball, President and Chief Executive Manager money shop Sanders Morris Harris Group, said that the Wall Street Journal, the sell-off marked "rolling" the bailout Citigroup Global. He said "subsequent sale of the Government Bank stock is much less important, regarded as objects in the mirror rather than important cue points,".

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Ball added that the Bank was now "a simpler and more predictable animal and is very important for survival."

The bailout of Citigroup and other big banks started under Republican George w. Bush administration, but transformed an important political responsibility for President Barack Obama Congress last month's elections.

Republicans have taken control of the House of representatives and won six seats in the Senate by capitalizing on the wrath of the voter on the plan rescue and federal budget deficits increased.

Administration insisted that subsidies are necessary to prevent a still deeper recession.

$ 25 Billion TARP
They said the cost of it will be decreased as Citigroup and other surviving institutions repaying their loans from the Government.

The last estimate of the budget for the Congress at the end of November that Asset Troubled 700 billion program would eventually cost the Government 25 billion, down to an August CBO estimate of $ 66 billion.

45 Billions of dollars in support of taxpayer of Citigroup, $ 25 billion has been converted into a set of Government property as the Treasury Board was winding up since last spring. The Bank has repaid the other 20 billion in December 2009.

Commission stated that prices of latest actions 2.4 billion shares, on Monday, he will receive 31.8 billion sale of common shares and $ 2.9 billion in interest and dividends.

The total of $ 57 billion includes also the $ 20 billion of Citigroup December 2009 refund money TARP and $ 2.2 billion from the sale of trust preferred securities held by the Government.

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Sale, however, do step completely frees Citigroup Government clutches. Treasury Board also stated that it would continue to hold warrants to buy Citigroup shares issued within the framework of the bailout. They may be redeemed by Citigroup or sold in a separate auction sale for an additional benefit.

Real earnings are expected to climb with 800 million trust preferred securities held by the Federal Deposit Insurance Corp. and sale of subscription sales.

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Commission had prepared approximately 5.3 billion shares at an average price of $4.05 before Monday remaining stock prices.

With pricing of $4.35 shares offered Monday, average price of the Treasury Board for shares of 7.7 billion for all of the shares will turn out to be $4.14.

Many Monday, which Morgan Stanley acted as bookrunning, Director should close on Friday, said the Treasury. Citigroup to pay subscription fees.

Shares closed at $4.45 Monday trade Citigroup and varied from a minimum of $3.11 to a maximum of $5.07 for 52 weeks.

The Associated Press and Reuters have contributed to this report.

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Treasury Board gave its final participation for $10. 5bn later Monday, profit of $6 85bn on the transaction. Including dividends, the U.S. taxpayer has realized a profit of $billion after the Government purchased the Bank to prevent its collapse.

Tim Massad, the Secretary of the U.S. financial, said stability as the sales offer Government the opportunity to "lock in substantial benefits for the taxpayer and avoid future risks".

Investors on Wall Street has welcomed displacement of the issue, which some have expressed the hypothesis could be pushed in 2011. The Treasury Board has been gradually sell 27pc its stake in Citi - acquired at the time where he converted $used money from bailout actions – in this year.

"Exit arrived earlier than expected, a quarter, and the property of the Government was one of the things holding investors return, we expect agreement is welcomed, and should buy some people expect pressing return on the market," said Glenn Schoor, an analyst at Nomura, who recommends that investors buy shares.

Mr. Schoor said Citi moves to float free 100pc and resumed his position in several major indices, followed by investors indexes will have to buy more than 450 m shares of the Bank.

CITI shares increased by 16 cents to $4.61, leading banking stocks.

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(Reuters) – The U.S. securities regulator has probed certain Citigroup Inc debt funds to assess whether the bank made adequate disclosure to investors about the funds' risk levels, the Wall Street Journal said, citing people familiar with the matter.

The Securities and Exchange Commission (SEC) had also subpoenaed the bank's former brokers for testimony, the Journal said.

Citigroup's debt funds, which are under the SEC's scanner, had used borrowed money to invest in municipal bonds and mortgage debt, the Journal said.

After the mortgage market imploded during the credit crisis, the funds' value fell about 77 percent to reach a low in March 2008, the paper said.

Following internal discussions, Citigroup had offered share buybacks that reduced investor losses to about 61 percent, according to the Journal.

Three California-based brokers, who worked for the then Citigroup unit Smith Barney, concluded the bank did not adequately disclose the funds' risks and had also mismanaged them, the newspaper said, citing people familiar with the regulatory probe.

The brokers, who resigned in 2008 in a dispute over Citigroup's handling of the funds, had received subpoenas from the SEC, the paper said.

They spoke to the SEC in 2009 and again this past summer, the sources told the paper.

The SEC declined to comment to the Journal. Citigroup declined to comment in detail, citing the regulatory probe, the paper said. Citi, however, denied misleading investors, saying its disclosure was adequate, the WSJ reported.

The SEC and Citi could not immediately be reached for comment by Reuters outside regular U.S. business hours.

Citi had maintained that the investors were notified the funds were more volatile than the stock market and that they could lose their entire investment, the Journal said.

(Reporting by Sakthi Prasad in Bangalore; Editing by Dhara Ranasinghe)

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Losses from bad loans increased to $7. 66bn $11 billion.

Benefits of net continue the operations - 800 m $ of loss on a sale announced previously in The Student Loan Corporation - pink 101 m $ in the same period last year.

Vikram Pandit, CEO, Citi, stated: "achieving our third right quarter of positive operating revenues continues evidence that we are successfully executing our strategy and we believe that we have in place all items in the continuous profitability."

Total income of $20. 7bn was down $ 1 United for the second quarter on consumer loans and banking and securities business more low and lowest for a quarter of this year, but increased by 1. 7pc on the third quarter of 2009.

Losses from bad loans increased to $7. 66bn $11 billion.

Citigroup of hardest was American banks during the financial crisis of 2008 and has received 45 billion in government assistance, 25 billion that has been converted into stock.Le Government is still reduced its stake in Citigroup.

Anthony Polini, Raymond James analyst said: "three quarters in a row: rentables.Quatre quarters in a row: problem loans descendent.Cinq quarters in a row: decreased prêt.Si losses you have doubts or you were on the fence about or Citi is back - Citi is back!"

However, others were concerned about the decline in revenues, and that it will not be able to reduce losses on loan forever.

Shares of Citigroup pink

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Citigroup is chased by a group of six female employees who say underpaid patterns them, their punished for having children and used the economic crisis as an excuse for their fire.

They allege that an obsolete "boys club" mentality "low filters in the ranks of management affect professional positions all the senior and junior level."This translates into "systematic and widespread discrimination and retaliation" against women across the Bank, they argue.

Women seek to bring one-use collective on behalf of thousands of current and former female employees which means that the Bank may be forced to pay enormous sums in compensation.

Their action is shortly after that, another former worker of Citigroup, Debrahlee Lorenzana, alleged was taken by the company to be "too sexy" and figure hugging clothes.The case was dismissed because his contract of employment that such disputes could be resolved in the Court, she said she would continue the private arbitration case.Last month, three former Goldman Sachs female employees continued their bank also alleging systematic discrimination between the sexes .the ' case, which is "baseless", says Goldman Sachs, is underway.

Women in the last action of Citigroup comes from Florida to New Jersey, New York and Chicago.Cinq left the Bank in one Dorly Hazan-Amir, still works for the company.

Hazan-Amir alleges that "of his employment from Citigroup, she was subjected to inappropriate and offensive comments based on her sex" and been underpaid.

She says also demoted to a "less prestigious and less lucrative position" days after the return from maternity leave.

"There is a glass ceiling affect employed, particularly employees of women who are pregnant, taking maternity leave or parental obligations, Citigroup in all aspects of their jobs," the prosecution alleges.

Rejecting claims Hazan Amir, a Citigroup spokesman said: "many of the allegations are false, non-supported or taken completely out of context." His co-claimants allege that other women and targeted disproportionate when Citigroup removed one-tenth of its workforce in November 2008 after be bailed out by the Government of the United States.

The number of women who were drawn "was little likely occurred by chance and was the result of intentional gender discrimination", says the trial. "In most circumstances less skilled retained Citigroup employees male.?

The claimants argue that, throughout their employment, the company has no "to promote at the same speed and on the same terms and conditions as male employees similarly situated females".

Only five women sit within 44 Citigroup, Committee members pursuing claims, while the Executive Committee is composed of 19 men.

Citigroup spokesman stated that women were dismissed for "business reasons legitimate, not based on their sex.

"Many of their allegations are totally inaccurate or incomplete selectively," said spokesman. "The facts do not support their gender discrimination claims.?

Citigroup, which employees approximately 250,000 people are one of the consumers 'big four' banks in the United States and also operates a large financial services arm.

It is always a party held by the Government of the United States almost having collapsed during the financial crisis.

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