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---
tags: ["Person", "Banker", "Government Official"]
---
William Ryback was the Deputy Director of Banking Supervision at the [[Federal Reserve]].[^1]
### Role in BCCI Investigation
Ryback was the Federal Reserve's spearhead in the [[Bank of Credit and Commerce International|BCCI]]-[[First American Bank]] case.[^2] He had repeatedly investigated the supposed connections between the two banks but had found no concrete evidence.[^2]
In December 1990, Ryback traveled to [[London]] and demanded to see the October 1990 audit report of BCCI from [[Zafar Iqbal]], who had recently taken over BCCI.[^2] This audit revealed over $1 billion in loans to an entity coded "[[XYZ Corp]]." and that the loans were secured by stock in XYZ, with no repayment.[^2] Ryback concluded that "XYZ Corp." was actually [[First American Bank]] and that the loans were made to front men.[^2]
Ryback's findings led him to believe that BCCI had been lying to the Federal Reserve for years, and he sought to have [[Clark Clifford]] and [[Robert Altman]] investigated for withholding this vital information.[^2]
## Footnotes
[^1]: Beaty, Jonathan and Gwynne, S. C. *The Outlaw Bank: A Wild Ride into the Secret Heart of BCCI*. New York: Random House, 1993, p. 11.
[^2]: Beaty, Jonathan and Gwynne, S. C. *The Outlaw Bank: A Wild Ride into the Secret Heart of BCCI*. New York: Random House, 1993, p. 132-133.