We’ve been trying to drill down into Citigroup’s exposure to a bankruptcy in automakers. Here’s what we’ve come up with so far.
Exposure to GM. We know that Citi is a creditor to GMAC. Earlier this year, Citigroup extended a loan facility of up to $21.4 billion to General Motors Corp.’s financing arm, GMAC. Citigroup is also one of the controlling GMAC investors.
Exposure to Chrysler. Citigroup was one of the banks (along with JP Morgan Chase, Goldman Sachs Group, Morgan Stanley and Bear Stearns) that financed Cerberus’s takeover of Chrysler. A lot of this debt was unloaded at a steep discount ealier this eyar. How much of this exposure are they still carrying?
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