Reuters: Regulatory News: Citigroup to exit UAE interbank rate setting panel -c.bank

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Citigroup to exit UAE interbank rate setting panel -c.bank Jun 10th 2013, 08:05 ABU DHABI, June 10 | Mon Jun 10, 2013 4:05am EDT ABU DHABI, June 10 (Reuters) - U.S. lender Citigroup Inc will leave the interbank interest rate setting panel in the United Arab Emirates on June 25, a statement from the central bank said on Monday. Citi will not be replaced so its exit will reduce the panel, which sets the Emirates interbank offered rate (Eibor), to 11 members from the current 12, the statement added. A spokesman for Citi declined to comment when contacted by Reuters.

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