European governments and agencies have punished Citigroup for the controversial trades it carried out on the EuroMTS dealing system in August last year.

On August 1, the day before its traders made an estimated €17m ($22m) profit for the bank as a result of the trades, Citigroup was in third place for the year in the league tables for underwriting new bonds for the European governments and organisations such as the European Investment Bank, which trade on EuroMTS.