The Federal Reserve Bank of New York has denied any responsibility over the $81 million cyber heist from the current account of Bangladesh Bank. But a BB audit report observes NY Fed responsible since it implemented five payments instructions out of thirty five leaving many questions behind. Following the internal report BB is getting prepared to file lawsuit against Fed.
William Dudley
Breaking News
U.S. stocks rose on Monday as expectations the Federal Reserve could hold off longer on raising interest rates offset concerns over Friday's surprisingly weak jobs report.
Banks should defer bonus payments for 10 years and tap the bonus pool to pay any regulatory fines, a top Federal Reserve official said on Monday, taking aim at continued lapses across the industry even after the 2007-9 financial crisis.
Asian shares slipped on Tuesday as a periodic bout of angst over China combined with the U.S. dollar's recent meteoric run to pile pressure on commodity prices.
The New York Federal Reserve Bank retains bond purchasing policy.
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