NO. 23


Financial and Banking News

Regional Banking

BCCI to Sell Stake in FAB and End All Banking Activity in US

Bank of Credit and Commerce International (BCCI) has been ordered by the USFederal Reserve Bank to sell its stake in Credit and Commerce American Holdings(CCAH), the owner of First American Bankshares (FAB), one of the biggest bankson the US east coast. The order notes that BCCI has "voluntarily decided tocease all banking operations in the United States". The...