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Bank of England chides NY agency accusing UK bank

February 16. 2013 2:23PM

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(AP) The governor of the Bank of England has criticized a New York state agency for accusing Standard Chartered bank of violating U.S. sanctions while investigations by other agencies continue.

New York State Department of Financial Services has accused the British bank of laundering $250 billion of Iranian oil money. The bank admits violations of no more than $14 million.

Responding to a question at a news conference on Wednesday, Bank of England Governor Mervyn King said he didn't believe that U.S. regulators were unfairly targeting British banks.

King added, however: "I think all that the U.K. authorities would ask is that various regulatory bodies that are investigating a particular case try to work together and refrain from making too many public statements until the investigation is completed."

Associated Press

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