Italian bank Monte dei Paschi di Siena and its former adviser Deutsche Bank face charges in Italy that the company, an employee and five former executives colluded to falsify the Italian lender's accounts in 2008. Bloomberg reports that two former executives, Michele Faissola, who oversaw global rates for Deutsche at the time, and Ivor Dunbar, former co-head of global capital markets, were among those indicted in a Milan court. The New York branch of the Agricultural Bank of China has 60 days to explain how it plans to improve and strengthen its oversight, compliance and customer due diligence, Caixin reports. The US Federal Reserve, citing "significant deficiencies" in the anti-money-laundering system of the Chinese bank, set the sanction. The Fed issued a similar warning last year to the New York branch of China Construction Bank. Foreign branches of the Industrial and Commercial Bank of China and the Bank of China have also faced scrutiny by money-laundering enforcement officials in Spain and Italy, respectively, Caixin reports.