A Federal Reserve Board crackdown on a Taiwanese bank has underscored regulators' growing sensitivity to foreign government ownership of banks doing business in this country.

Last week the Fed levied a $22.3 million fine against International Commercial Bank of China, also known as ICBC. In its order, the Fed said that the bank had failed to disclose that the Taiwanese government held a 43% stake in ICBC when it acquired Chinese American Bank, a New York State- licensed retail bank.

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