TITLE

N.Y. MTA Delays Note Sale in Wake of ABN AMRO Fines

AUTHOR(S)
Cataldo, Adam L.
PUB. DATE
February 2006
SOURCE
Bond Buyer;2/22/2006, Vol. 355 Issue 32324, p4
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports on the decision of New York's Metropolitan Transportation Authority to delay the sale of short-term notes in March 2006, after learning that its liquidity provider, ABN AMRO Bank NV had been fined in connection with money laundering involving Iran and Libya. The government found that the bank had unsafe and unsound practices and systematic defects in internal controls to combat money laundering.
ACCESSION #
20281580

 

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