US Federal Reserve Board terminates written agreement with UBL

MG News | May 24, 2019 at 11:17 AM GMT+05:00

0:00

May 24, 2019 (MLN): Consequential to the liquidation of United Bank Limited (UBL)’s New York Branch on January 29, 2019, the Federal Reserve Bank of New York has informed that the written agreement signed with UBL and the New York branch on July 2, 2018, has now been terminated.

The aforesaid agreement required UBL to take steps to strengthen its Bank Secrecy Act and Anti Money Laundering Compliance, Customer Due Diligence and Suspicious Activity Monitoring and Reporting Programmes.

On January 29, 2019, UBL had announced that it has surrendered its New York branch license to the New York State Department of Financial Services (NYDFS) on January 28, 2019.

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	156,135.16 97.96M	0.48% 750.66
ALLSHR	95,594.52 276.79M	0.48% 460.95
KSE30	47,713.19 41.28M	0.52% 246.20
KMI30	228,927.79 29.31M	0.56% 1282.57
KMIALLSHR	64,244.78 133.80M	0.56% 356.72
BKTi	42,081.74 23.02M	0.77% 319.96
OGTi	31,748.21 1.38M	0.41% 129.07

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	115,220.00	117,240.00 114,940.00	-2045.00 -1.74%
BRENT CRUDE	67.14	67.52 66.78	0.15 0.22%
RICHARDS BAY COAL MONTHLY	84.00	0.00 0.00	-1.20 -1.41%
ROTTERDAM COAL MONTHLY	93.00	0.00 0.00	0.05 0.05%
USD RBD PALM OLEIN	1,106.50	1,106.50 1,106.50	0.00 0.00%
CRUDE OIL - WTI	62.90	63.24 62.52	0.21 0.34%
SUGAR #11 WORLD	15.90	15.98 15.80	0.11 0.70%