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BRIEF-Citigroup CFO says some legal costs to stay high
July 14, 2014 / 1:35 PM / in 3 years

BRIEF-Citigroup CFO says some legal costs to stay high

July 14 (Reuters) - Citigroup Inc CFO John Gerspach said on a conference call with reporters about the bank’s second-quarter results: * Legal costs outside of mortgage issues likely to ‘remain somewhat

elevated’ in second half of year * Immunity for CDOs was “a key component” in deal with justice department * Trading revenue was better than expected because tensions

eased in Russia and ukraine * Trading results in June were “much stronger” than in April

and May * June accounted for 42%-44% of all trading activity in 2Q, mostly in “spread products” * Citi Holdings unit should be profitable for the rest of 2014 * $1 billion in mortgage loans in Citi holdings should be sold in 3Q * Staff for regulation and compliance will approach 30,000 by year-end, up by one-third from 2011

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