| Washington, June 15
Washington, June 15 The Federal Reserve
announced Thursday it had terminated a 2010 enforcement action
taken against Bank of America after the bank admitted to
bid-rigging in the municipal debt market.
The termination means the bank is no longer required to
submit quarterly progress reports to the Fed on how its risk
management program monitors competitively bid transactions.
The original agreement was struck as part of a broad
settlement the bank made with the federal government, under
which it agreed to pay $137.3 million in restitution, after
admitting traders conspired to rig bids on competitive municipal
(Reporting by Pete Schroeder)