UPDATE 3-Regulators enter Citibank Argentina building as debt fight heats up

April 6, 2015 11:39 PM

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BUENOS AIRES, April 6 (Reuters) - Argentine central bank regulators entered Citibank Argentina's headquarters on Monday, as the battle intensified between the government and a group of U.S. hedge funds that 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 Citibank Argentina from conducting capital market operations and stripped its CEO's authority.

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