| For immediate release |
|
The Federal Reserve Board today announced the joint
issuance with the New York State Banking Department of a Cease
and Desist Order against the Asahi Bank, Ltd., Tokyo, Japan, and
the Asahi Bank, Ltd. branch in New York.
The Board also issued an Order of Assessment of a Civil Money Penalty of $5 million against the bank and branch. Both orders were issued for misconduct by certain officers of the New York branch relating to the alleged misuse of confidential supervisory information, to the making of false statements to bank supervisory officials, and to the alleged obstruction of a formal investigation by bank supervisory officials. The Asahi Bank and branch did not admit to any allegations made against them in connection with the issuance of the orders. Copies of the orders are attached. |
| Orders (383 KB PDF) |