The US Federal Reserve System (FRS) and the Bank of England Prudential Regulatory Authority have fined Swiss bank Credit Suisse (CS) more than $387 million for risk management violations. It has been reported DEA News.
The publication points out that the Prudential Regulatory Authority’s actions are part of a coordinated global solution.
The Bank of England’s statement highlights that this is the highest penalty imposed by the Prudential Regulatory Authority and is the only time the investigation has found violations of the regulator’s four key rules.
The reason for the fine is serious violations committed by the bank in the field of risk management in the period from January 1, 2020 to March 31, 2021.
Prior to this, documents collected by the Swiss Parliament’s commission during the investigation into the bankruptcy of Credit Suisse bank, to be classified 50 years for privacy reasons.
As he reported “News”experts predicted the growth of the Moscow Stock Exchange index at the beginning of autumn.
former Central Bank increased sharply key rate to 8.5%.
Source: Gazeta
Ben Stock is a business analyst and writer for “Social Bites”. He offers insightful articles on the latest business news and developments, providing readers with a comprehensive understanding of the business world.