Under a cloud-dappled Kiwi sky, an age-old game of cat and mouse was set into motion as New Zealand's central bank, the reigning watchdog of fiscal conduct, trained its glare on Citigroup’s local unit. Their offense? A rather audacious breach of an international payments rule, a slight the central bank wasn't about to let slide by unnoticed.
It's the international arena where financial titans like Citi play hardball, and sometimes, the rules of the game seem more like ambiguous guidelines than steadfast laws. Now, it’s the fist of the ‘Land of the long white cloud’ that's landed a punch, crying foul over Citi’s blatant non-compliance.
