Bank of America (BAC) and Citigroup (C) both incorrectly hid billions of dollars of debt from...

|About: Bank of America Corpora... (BAC)|By:, SA News Editor

Bank of America (BAC) and Citigroup (C) both incorrectly hid billions of dollars of debt from investors by 'accidentally' classifying some short-term repurchase agreements, or "repos," as sales instead of borrowing. The disclosures were made in recent filings with securities regulators.