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Benjamin M. Lawsky, New York Superintendent of Financial Services, issued the following statement today.
As announced on August 14, 2012, The New York State Department of Financial Services reached a settlement with Standard Chartered Bank. As stated in the August 14th announcement:
The New York State Department of Financial Services ("DFS") and Standard Chartered Bank ("Bank") have reached an agreement to settle the matters raised in the DFS Order dated August 6, 2012. The parties have agreed that the conduct at issue involved transactions of at least $250 billion.
The settlement also includes the following terms:
We will continue to work with our federal and state partners on this matter.
Attached is the formal written agreement, signed today, memorializing these terms.