Text of U.S. press release on actions against BTM UFJ.WASHINGTON, Dec. 18 KyodoThe following is the full text of a joint press release issued Monday by the Federal Deposit Insurance Corporation Federal Deposit Insurance Corporation (FDIC), an independent U.S. federal executive agency designed to promote public confidence in banks and to provide insurance coverage for bank deposits up to $100,000. , the Board of Governors of the Federal Reserve System and the New York State Banking Department on their coordinated enforcement actions against the Bank of Tokyo-Mitsubishi UFJ and some of its U.S. operations for their failure to adequately implement anti-money-laundering compliance programs: The Federal Deposit Insurance Corporation (FDIC), the Federal Reserve Board, and the New York State Banking Department (NYSBD) today announced the issuance of separate but coordinated enforcement actions regarding The Bank of Tokyo-Mitsubishi UFJ, Ltd., Tokyo, Japan, and some of its U.S. operations. The FDIC and the NYSBD issued a joint Order to Cease and Desist against the Bank of Tokyo-Mitsubishi UFJ Trust Company, a New York State-chartered banking corporation. Bank of Tokyo-Mitsubishi UFJ Trust Company, without admitting or denying the allegations, consented to the issuance of the Order. The Order determined that Bank of Tokyo-Mitsubishi UFJ Trust Company failed to implement adequate Bank Secrecy Act and anti-money laundering compliance programs. The Federal Reserve Bank of San Francisco The Federal Reserve Bank of San Francisco is the federal bank for the twelfth district in the United States. The twelfth district is made up of nine western states—Alaska, Arizona, California, Hawaii, Idaho, Nevada, Oregon, Utah, and Washington—plus American Samoa, , the Federal Reserve Bank of New York The Bank of New York, abbrieviated to BNY, was a global financial services company that existed until its merger with the Mellon Financial Corporation on July 2, 2007.[1] The bank now continues under the new name of The Bank of New York Mellon Corporation. , and the NYSBD executed a Written Agreement with Mitsubishi UFJ Financial Group Mitsubishi UFJ Financial Group, Incorporated (株式会社三菱UFJフィナンシャル・グループ Inc., Tokyo, Japan; its subsidiary bank, The Bank of Tokyo-Mitsubishi UFJ Ltd., Tokyo, Japan; and the bank's branch in New York, New York. The Written Agreement addresses Bank Secrecy Act and anti-money-laundering compliance policies and practices at The Bank of Tokyo-Mitsubishi UFJ Ltd.'s New York branch. |
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