Presented with a difficult choice between two risks — angering depositors or effectively extending a loan to crisis-stricken California — banks have varied widely in their willingness to accept IOUs the state has issued to their customers.

Several institutions, including large national ones like Wells Fargo & Co. and JPMorgan Chase & Co., held firm that they would not accept California's so-called registered warrants after Friday. But some, notably Citigroup Inc., said Friday that they were considering an extension.

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