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Citigroup, CSFB face steep fines

New York, Nov. 16 (Reuters): Credit Suisse First Boston and Citigroup CN face fines of about $ 200 million each as part of a settlement with federal and state regulators to resolve probes into stock research, a source familiar with the talks said Friday.

The final amounts of the fines are expected to be discussed at a meeting of regulators on Monday, the source said, adding that the fines will be “in the ballpark” of $ 200 million each. A spokeswoman for CSFB declined to comment.

A spokeswoman for Citigroup said that the bank continues to “have active discussions with regulators and can't comment further.”

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