Banking Latest News: Bank of Tokyo Mitsubishi Fined $250m by NY Regulator

Wochit 0:58 mins

New York's state banking regulator just handed down a $250m penalty to the Bank of Tokyo Mitsubishi-UFJ for violating United States sanctions against countries including Iran, Sudan and Myanmar. New York State authorities are-poised-to-impose a $250 million-fine-on-the-Bank of Tokyo Mitsubishi-over-claims-that-the-bank, the world's largest, transferred illicit funds on behalf of Iran and other countries-blacklisted-from-doing-business-in the United States China?s financial system is in the throes of a cash crunch. The interest rates that Chinese banks must pay to borrow money from each other overnight surged to a record high of 13.44 percent. according to official daily rates set by the National Interbank Funding Center in Shanghai.

View Comments (0)