LTCB Trust Fined $1 Million For Booking Bond Trades As Repos


LTCB Trust, the US subsidiary of the Long-Term Credit Bank of Japan, has been fined $1 million by the New York State Bank Department as a penalty for engaging in securities lending "without implementing proper financial, operational and risk controls and management supervision."

The consent order against LTCB Trust follows regulatory investigations set in motion earlier this year (RMO, April 22) after bank management reported the misdemeanours.

According to New York State Banking Department

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact or view our subscription options here:

You are currently unable to copy this content. Please contact to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to View our subscription options

If you already have an account, please sign in here.

You need to sign in to use this feature. If you don’t have a account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here