Standard Chartered agrees settlement with New York regulator
Standard Chartered has agreed a $340m (£217m) settlement with New York regulators that accused it of hiding $250bn of transactions with Iran.
The hearing that had been scheduled for Wednesday has now been adjourned.
The bank's chief executive Peter Sands has been in New York negotiating with the regulators.
The bank had admitted that some of its transactions did break US sanctions, but said that the amount totalled just $14m.
"The New York State Department of Financial Services (DFS) and Standard Chartered Bank have reached an agreement to settle the matter raised in the DFS order dated August 6, 2012," a statement from the regulator's superintendent said.
"The parties have agreed that the conduct at issue involved transactions of at least $250bn."
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