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Citibank holds $40 million in foreign exchange assets and $37 million in foreign exchange liabilities. Citibank also conducted foreign currency trading activity in which it

Citibank holds $40 million in foreign exchange assets and $37 million in foreign exchange liabilities. Citibank also conducted foreign currency trading activity in which it bought $5 million in foreign exchange contracts and sold $11 million in foreign exchange contracts.

a. What is Citibank

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