Press Release

May 20, 2009 Written agreement with Philippine National Bank and Philippine National Bank New York Branch Board of Governors of the Federal Reserve System New York State Banking Department For immediate release Share The Federal Reserve Board and the New York State Banking Department on Wednesday announced the execution of a Written Agreement by and among Philippine National Bank, Pasay City, Philippines; the bank’s branch in New York, New York; the Federal Reserve Bank of San Francisco; the Federal Reserve Bank of New York; and the New York State Banking Department. The Written Agreement addresses weaknesses in operational risk controls and Bank Secrecy Act and anti-money-laundering compliance policies and practices at Philippine National Bank’s New York branch. A copy of the Written Agreement is attached. Attachment

Federal Reserve (2009, May 19). Press Release. Press Releases, Federal Reserve. https://whenthefedspeaks.com/doc/press_release_20090520_board_announces_approval_of_final_amendments_to

@misc{wtfs_press_release_20090520_board_announces_approval_of_final_amendments_to,
  author = {Federal Reserve},
  title = {Press Release},
  year = {2009},
  month = {May},
  howpublished = {Press Releases, Federal Reserve},
  url = {https://whenthefedspeaks.com/doc/press_release_20090520_board_announces_approval_of_final_amendments_to},
  note = {Retrieved via When the Fed Speaks corpus}
}