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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