Citigroup has reached a $75 million settlement with the U.S. Securities and Exchange Commission (SEC) for failing to disclose to shareholders the extent of its investment in subprime mortgages.

Federal regulators say Citibank held $40 billion in subprime mortgages late in 2007, but did not share this information with its investors.

The banking giant has not been charged with fraud because, according to the SEC, it did not intentionally mislead investors. Instead it was charged with an omission relating to disclosure requirements.

Citibank’s subprime holdings eventually led to losses of more than $30 billion on those assets.