ecb fines rescued italian bank 112 mln euros
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

ECB fines rescued Italian bank 11.2 mln euros

Arab Today, arab today

Arab Today, arab today ECB fines rescued Italian bank 11.2 mln euros

Fined for breaking the rules
Frankfurt - Arab Today

The European Central Bank has fined an Italian bank in the throes of a state rescue for breaking rules on risk and disclosing information, the Frankfurt institution said Friday.

Regulators decided in May to fine Banco Popolare di Vicenza a total of 11.2 million euros ($13.4 million), the ECB said in a press release.

Some 8.7 million of the sum was a penalty for the bank missing requirements in quarterly and annual reports in 2014 and 2015.

On top of that, the supervisors levied 2.5 million euros over the bank breaching limits on large exposures to risk between December 2015 and March 2016.

The rule is supposed to prevent financial institutions making themselves too vulnerable to losses stemming from the failure of a single client or group of connected clients.

Popolare di Vicenza is one of two failing banks from the Venice region liquidated by the Italian state in June, ahead of a takeover by the country's biggest lender Intesa Sanpaolo.

The firms had been struggling with a heavy burden of non-performing loans -- debts where the borrowers have failed to keep up repayments.

Friday's punishment marks only the second time the ECB has used its power to issue fines, through the so-called Single Supervisory Mechanism (SSM).

It slapped a 2.5-million-euro penalty on Irish lender Permanent TSB in August for failing to keep enough liquid assets on hand.

The SSM branch of the ECB has since 2014 been the top banking regulator in the 19-nation euro single currency area.

Source: AFP

 

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

ecb fines rescued italian bank 112 mln euros ecb fines rescued italian bank 112 mln euros

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

ecb fines rescued italian bank 112 mln euros ecb fines rescued italian bank 112 mln euros

 



GMT 10:06 2012 Saturday ,28 July

Querrey advances at ATP LA Open

GMT 21:15 2017 Thursday ,01 June

Trump condemns deadly Kabul explosion

GMT 02:15 2017 Thursday ,24 August

Is your country on the Qatar free entry list of 80?

GMT 19:48 2016 Monday ,03 October

Controversial boxing champ Tyson Fury retires

GMT 08:20 2015 Tuesday ,08 December

PC market woes show no sign of easing

GMT 17:27 2017 Tuesday ,25 April

20 Yemeni soldiers killed, injured in explosion

GMT 11:52 2017 Saturday ,30 December

OIC condemns Mar Mina Church attack

GMT 00:03 2017 Saturday ,25 March

Arab Meeting to Examine Anti-Corruption Methods

GMT 13:12 2017 Thursday ,20 April

Deputy premier meets Arab League chief

GMT 14:13 2014 Friday ,10 January

Opel Astra GTC

GMT 18:27 2016 Tuesday ,02 August

Turkish Foreign Minister arrives in Islamabad

GMT 11:27 2016 Tuesday ,13 December

Saudi woman arrested for challenging social norms

GMT 19:56 2017 Thursday ,09 March

Qatar Pavilion Opens at ITB Berlin

GMT 23:34 2013 Thursday ,07 February

New BMW 3 Series Gran Turismo

GMT 12:57 2017 Friday ,13 October

JPMorgan open to digital money if regulated

GMT 04:38 2017 Friday ,10 March

ADNOC opens fifth ADNOC Xpress

GMT 10:30 2017 Friday ,10 November

BDF military contingent honoured

GMT 17:37 2017 Tuesday ,24 January

China jails former Sinopec president for graft

GMT 19:34 2017 Sunday ,14 May

Austria centre-right calls for snap elections

GMT 14:54 2014 Saturday ,29 November

Wall cladding, wallpaper, fabric and wood!
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday