ECB Fines Allied Irish Banks For Understating Risks

By Najiyya Budaly (September 13, 2021, 12:22 PM BST) -- The eurozone's central bank has fined Allied Irish Banks PLC a total of €615,000 ($725,000) for underestimating the risks on its books, which caused the lender to wrongly state its capital strength to regulators.

The European Central Bank has hit AIB with a fine totaling €615,000 ($725,000) after finding that it and a subsidiary had miscalculated their so-called risk-weighted assets. (AP Photo/Peter Morrison) The European Central Bank said on Friday that it has hit AIB with a €420,000 fine and handed a €195,000 penalty to its subsidiary, EBS DAC, after finding that the lenders had miscalculated their so-called risk-weighted assets. The...

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