BNY Mellon Fined Over ABCP Facility

The Federal Reserve has issued a consent cease and desist order and assessed a $6 million civil money penalty against the Bank of New York Mellon related to allegations that the bank breached “certain representations and warranties” made to Federal Reserve of Boston in connection with its participation in the Asset-Backed Commercial Paper Money Market Mutual Fund Liquidity Facility.

  • 17 Apr 2012
The Federal Reserve has issued a consent cease and desist order and assessed a $6 million civil money penalty against the Bank of New York Mellon related to allegations that the bank breached “certain representations and warranties” made to Federal Reserve of Boston in connection with its participation ...

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