BANKING

Fed Probing BCCI Links to Foreign Banks: The Federal Reserve, stung by the BCCI scandal, is quietly probing whether foreign banks operating in the United States had improper links with the Luxembourg bank, according to people familiar with the effort. About two weeks ago, Fed bank supervisors began asking directors and top executives to detail the extent of their banks’ dealings with the Bank of Credit & Commerce International, the sources told the trade paper American Banker. The sources interpreted the effort as a Fed attempt to avoid being blindsided again by the spreading scandal.