The Office of the Comptroller of the Currency (OCC) said that the bank engaged in unsafe or unsound practices, including failure to establish effective risk management and internal controls.
SYDNEY (Reuters) – Asian shares faltered on Thursday after Wall Street took a late spill, while investors stuck to bets for sizable cuts in U.S. interest rates this year even if the kick off might now be a little later than first hoped.
The Chinese yuan was among the worst performers on Thursday, down 0.2% as data showed little improvement in a sluggish economic recovery. A private survey showed that China’s manufacturing sector grew as expected in January, but its pace of growth now appeared to be slowing.
The Fed’s comments spurred a sharp reversal in risk-driven markets, particularly stocks, on Wednesday. This in turn fueled increased safe-haven demand for gold. The yellow metal was also aided by increased demand as a conflict between U.S.-led forces and the Yemen-based Houthi Group worsened.
ARB’s price movement had been bullish, as evidenced by its ascent past the moving averages, which served as dynamic support levels during its uptrend. However, the price has encountered substantial resistance, leading to a halt in its rally.
