Regulators sent to Citibank Argentina as debt battle heats up

April 6, 2015 1:24 PM

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BUENOS AIRES, April 6 (Reuters) - Argentina's central bank sent regulators to Citibank Argentina's headquarters on Monday, as the battle intensified between the government and a group of U.S. hedge funds who refuse to accept discounted payment terms on the country's defaulted debt.

Argentina's securities regulator says Citibank Argentina violated local laws by striking a deal with the hedge funds. It has suspended the bank from conducting capital market operations and stripped authority from its chief executive.

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