WASHINGTON - Britain's Lloyds TSB Bank Plc reached a $217 million settlement of charges it violated U.S. sanctions regulations, the Treasury Department said on Tuesday.

The department's Office of Foreign Assets Control said the settlement concerned the bank's manipulation and deletion of information about U.S. sanctioned parties in wire transfer instructions routed through third-party banks in the United States.

The settlement follows charges Lloyds faked records so clients from restricted countries, including Iran, could do business with it.

The department said Lloyds' obligation for the $217 million has been deemed satisfied by the bank's prior $350 million payment to the U.S. Department of Justice and the New York County District Attorney's Office arising from the same pattern of conduct.

As part of its settlement, Lloyds will conduct annual reviews of its polices, procedures, and a sampling of U.S. currency payments to determine whether any of those payments subject to U.S. regulations are being illegally processed.

(Reporting by Nancy Waitz; Editing by Kenneth Barry)

United kingdom Settlement