Citigroup and UBS agreed to reverse redemption of risky preference shares with an auction rate on a lump sum a to $30 milliard at the direction of regulators of financial market.

Securities and exchange commission the USA (SEC) approved suggestions of both banks about realization of reverse redemption, which followed on preliminary agreements in August. The regulators of exchanges in Texas and New York also promulgated the details of the final acceding to the jars.

Ten of thousands of clients of bank was purchased by preference shares with an auction rate till in February $330 collapsed milliardth market of papers with an auction rate. New transactions became the largest back of monies to the clients in history of SEC, a presiding commissioner declared in official circulation Kristofer Coke (Christopher Cox).

Neither Citigroup nor swiss UBS, did not confirm and did not refute the fact of offences.

New York Citigroup agreed to reverse redemption of actions to the amount of $7 milliards for sufferings buyers, UBS bought securities back to the amount of $22,7 milliards As a result of long investigation regulators came to the conclusion, that at least nine investment banks entered in an error the clients in regard to the risks of securities with an auction rate. All of them agreed to reverse redemption of papers on a lump sum an over $50 milliard

In opinion of regulators, thousands of private investors were suffered by losses on securities with an auction rate, which can be realized for cash, after the shipwreck of market of papers with an auction rate in February of this year.

Decision about reverse redemption of securities were directed Bank of America, RBC Capita lMarkets, MorganStanley, JPMorgan, Wachovia, MerrillLynch, GoldmanSachs, DeutscheBank and CreditSuisse.