Bank Exim gets penalty

Bank Exim gets penalty

WASHINGTON (Dow Jones): The Federal Reserve said Wednesday it
had issued $100,000 in monetary penalties against an Indonesian
bank and its New York agency.

The Fed said it issued the penalty against Bank Ekspor Impor
Indonesia (Bank Exim) of Jakarta in connection with allegations
the bank had failed to comply with a 1994 written agreement with
the Federal Reserve Bank of New York and the New York
Superintendent of Banks. It did not specify the nature of the
agreement or the alleged violations.

The Fed said the bank paid a $50,000 to the Federal Reserve
Board and $50,000 to New York state without admitting the
allegations.