AIB signs new risk-control agreement

US - The Federal Reserve Bank of Richmond, the Maryland Commissioner of Financial Regulation and the Central Bank of Ireland have signed a written agreement with Allied Irish Banks, Allfirst Financial and Allfirst Bank setting out the steps to be taken as a result of the Allfirst Treasury fraud disclosed last February.

In February the Allfirst unit revealed losses of $691m arising from the activities of a rogue currency trader over the previous five years. The changes are based partly on

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Geoeconomic reserve management

The world order is evolving. Whether, and how, the international economy remains integrated or shifts into spheres of influence has consequences for central bank policy and reserve management.

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