, Columnist
Citi Stockpiles 'Weapons of Mass Destruction'
As other banks shed their derivatives, Citi picks them up.
This article is for subscribers only.
Citigroup has carved out an an improbable niche, given its history of receiving the most federal aid among banks in the wake of the 2008 financial crisis.
The bank, which already has the most derivatives of any of its U.S. rivals, has been buying credit-default swaps from its European rivals, which are under growing pressure to quickly cut holdings of riskier assets.