Chuck Prince, chief executive of Citigroup, has made a public pledge to take stinging action against the individuals responsible for the bank's controversial dealings in the European government bond market in August. He has described the trades as "a completely knuckle-headed thing to do".

In an interview with the Wall Street Journal Europe, which carried a clear message to traders, he said: "You can't chew up Citi for your narrow, desk-based interests."