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7/26/24, 1:25 PM FRB: Press Release -- Combined Orders to Cease and Desist and Assessment of a Civil Money Penalty against Asahi Bank -- Febr… Release Date: February 13, 1997 For immediate release The Federal Reserve Board today announced the joint issuance with the New York State Banking Department of a Cease and Desist Order against the Asahi Bank, Ltd., Tokyo, Japan, and the Asahi Bank, Ltd. branch in New York. The Board also issued an Order of Assessment of a Civil Money Penalty of $5 million against the bank and branch. Both orders were issued for misconduct by certain officers of the New York branch relating to the alleged misuse of confidential supervisory information, to the making of false statements to bank supervisory officials, and to the alleged obstruction of a formal investigation by bank supervisory officials. The Asahi Bank and branch did not admit to any allegations made against them in connection with the issuance of the orders. Copies of the orders are attached. Orders (383 KB PDF) 1997 Enforcement actions Home | News and events Accessibility Last update: October 30, 1997, 12:00 PM https://www.federalreserve.gov/boarddocs/press/enforcement/1997/19970213/ 1/1