Citigroup Global Markets managed to claim the top position among U.S. ABS CDO managers, according to Thomson Financial, despite a recent announcement that the bank is facing losses on $1.3 billion in pretax subprime MBS collateral, CDO positions and leveraged loans warehoused for future CDOs.

For the first three quarters of 2007, Citigroup increased its issuance volume to $35.9 billion with 49 deals and a 14.6% market share. This is up from $27.1 billion with 47 deals and an 11.2% market share for the same period in 2006. But despite its top ranking, the bank did only 11 deals worth $5.3 billion in the third quarter, down from 14 deals worth $7.7 billion for the same period in 2006.

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