| For immediate release |
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The Federal Reserve Board today announced the issuance of an Order of Assessment of a Civil Money Penalty against Postipankki Ltd., Helsinki, Finland, and its New York branch. Postipankki Ltd., without admitting to any allegations, consented to the issuance of the order for allegedly engaging in unsafe and unsound practices related to misrepresentations to bank supervisory officials regarding trading losses, and for the branch's filing of allegedly false and misleading regulatory reports in 1994. Postipankki Ltd. paid a civil money penalty of $900,000. A copy of the order is attached. |
| Order (148 KB PDF) |