Discussions between the German bank and the US authorities are continuing about the bank's alleged infringements of sanctions imposed on Iran. Chief financial officer Stephan Engels said: 'In the last couple of days, discussions with the U.S. authorities have further intensified...There is a high probability that this might lead to a further increase in legal provisions.' Various banks have been accused of sanctions-busting by the Federal Reserve and the Office of the Comptroller of the Currency. The allegations include claims that controls were not strong enough and that they could allow terrorists and drug rings the possibility of transferring their money around the world.
Credit Suisse
Credit Suisse has returned to profit in Q4 2014, after reporting losses in the same period in 2013 - a period in which it was heavily weighed down by legal provisions. Source: Here is the city and New York Times
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