Argentina’s central bank has sent regulators to the headquarters of Citibank Argentina on Monday, the head of the monetary authority has said, the latest move between the bank and the state over defaulted debt, Reuters reported. The regulators will perform “an integral inspection” to “guarantee normal functioning of (Citibank Argentina),” central bank chief Alejandro Vanoli said, four days after stripping authority from the bank’s CEO. Last month Argentina’s securities regulator said Citibank Argentina had violated local laws in striking a deal with litigating US hedge funds and suspended the bank from conducting capital market operations. Under the accord, Citibank agreed not to appeal a US court ruling.
