Citigroup Inc could face up to $3 billion in claims from the bankruptcy proceedings of Lehman Brothers Holdings Inc , the third largest U.S. bank by assets said in a regulatory filing on Friday.
The trustee for Lehman under the Securities Investor Protection Act may seek to recover $1 billion that Citigroup took for clearing obligations for Lehman's broker-dealer subsidiary, the bank said in its annual report.
Lehman could also try to recover a $2 billion deposit it made with Citigroup in June 2008, before its collapse, the filing said.
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