WASHINGTON (Reuters) - The Industrial and Commercial Bank of China Ltd and its New York branch will pay $32.4 million in penalties for the unauthorized use and disclosure of confidential supervisory information, the Federal Reserve announced Friday.

The Fed said the joint action, taken with New York's Department of Financial Services (NYDFS), came after the bank disclosed information to a third party without regulatory approval.

In a separate statement, NYDFS said an ICBC employee disclosed that supervisory information to a foreign regulator. It added that the order resolved "numerous" compliance failures, including multiple deficiencies in the New York branch’s anti-money laundering program from 2018 through 2022.

ICBC in New York could not immediately be reached for comment.

(Reporting by Pete Schroeder; Editing by Chizu Nomiyama)