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Web Exclusive: Standard Chartered row

SI Reporter/Mumbai 08 Aug 12 | 08:48 AM

In a rare move, New York's top bank regulator threatened to strip the state banking license of this banking major, saying it was a rogue institution. The stock plunged by up to 24% in the Indian and UK markets. Track all the developments here.


Standard Chartered questions New York action
A New York bank regulator's broadside against Standard Chartered Plc over transactions tied to Iran left investors and the bank questioning the action, which on Tuesday wiped $17 billion off the bank's value.  Click here for more


After HSBC, StanC's India outsourcing under US scanner
Outsourcing of key oversight jobs by global banks to India has come under the scanner for the second time in less than a month for allegedly exposing the US financial system to terrorists and money laundering risk.  Click here for more


StanChart slumps 24% in London, 20% in India on US order

The Standard Chartered Bank stock today plunged by up to 24% in the Indian and UK markets, as the New York state in the US threatened to revoke its licence and charged it of $250 billion worth secret transactions with Iran.  Click here for more


Standard Chartered may lose NY license over Iran ties
In a rare move, New York's top bank regulator threatened to strip the state banking license of Standard Chartered Plc , saying it was a "rogue institution" that hid $250 billion in transactions tied to Iran, in violation of US law.  Click here for more



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