10 billion US$, face value (10 billion is 10 000 000 000)
Aug. 7 (Bloomberg) -- Merrill Lynch & Co. said it will offer to buy back about $10 billion in auction-rate securities from retail clients after Citigroup Inc. agreed to take similar steps under a settlement with U.S. and state regulators.
Merrill will pay face value for the securities, according to a statement today from the New York-based firm.
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