Standard Chartered Fined £46.5M For Reporting Fails

By Irene Madongo (December 20, 2021, 2:02 PM GMT) -- The Bank of England's regulatory arm fined Standard Chartered Bank £46.5 million ($61.5 million) Monday for misreporting its liquidity position and failing to be open with the watchdog.

Errors by Standard Chartered meant the PRA was left without a reliable overview of its liquidity position in dollars, the regulator has said. (AP Photo/Sang Tan) Standard Chartered made five errors in its reporting under an additional liquidity expectation imposed by the Prudential Regulation Authority on the financial institution in October 2017. The PRA said it had concerns about a heightened risk of outflows of U.S. dollars, the "liquidity metric."

That expectation has...

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