Closing: Swiss bank BSI is ordered to close its Singapore operations after authorities in both countries found signs of international money laundering. Criminal inquiries are underway in both countries. The bank was involved with 1MDB and one bank officer is jailed in Singapore and faces 9 criminal charges in that connection. The 1MDB money laundering probe goes well beyond the scale of any previous inquiry in the history of banking in Singapore. At least $1 billion in 1MDB funds remain missing and unexplained.
A “breakthrough” in EU talks will allow the Greek bailout to continue. Austerity measures were approved with minor adjustments and European authorities have agreed in principle on debt relief with specific measures to be decided two years out.
New Jersey approved an emergency line of credit for Atlantic City.
A central bank survey of ATMs in India found that one third are broken.
Settled: Citigroup will pay $425 million to settle a U.S. case of manipulation of interest rates other than Libor.
Security experts warn of active malware targeting international bank transfers and online banking customers.
