Monday, February 22, 2010

Citi can delay withdrawals 7 days

I earlier blogged about banks delaying redemptions from money market accounts, in case of a "broken buck." See this blog and this blog. Now Citi just announced to customers the bank can delay withdrawal requests up to seven days.

http://www.businessinsider.com/citigroup-warns-customers-it-may-refuse-to-allow-withdrawals-2010-2

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