US Federal Reserve Board terminates written agreement with UBL

By 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	133,403.19 324.46M	0.02% 33.04
ALLSHR	83,188.05 1,204.34M	0.13% 106.90
KSE30	40,651.46 104.88M	-0.13% -53.85
KMI30	192,083.92 123.92M	-0.26% -496.76
KMIALLSHR	55,847.70 679.22M	0.02% 11.98
BKTi	36,422.88 17.65M	0.29% 105.71
OGTi	28,437.61 10.77M	-0.37% -105.35

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	108,920.00	109,685.00 107,680.00	465.00 0.43%
BRENT CRUDE	69.72	69.80 69.03	0.14 0.20%
RICHARDS BAY COAL MONTHLY	97.50	0.00 0.00	2.05 2.15%
ROTTERDAM COAL MONTHLY	106.65	106.65 106.25	0.50 0.47%
USD RBD PALM OLEIN	998.50	998.50 998.50	0.00 0.00%
CRUDE OIL - WTI	67.95	68.07 67.33	0.02 0.03%
SUGAR #11 WORLD	16.21	16.37 16.13	-0.07 -0.43%