Irish Bank Regulator Fines RBS Unit $2.5M For Rules Breach

Law360, New York (November 19, 2012, 6:37 PM EST) -- The Central Bank of Ireland on Monday fined Royal Bank of Scotland Group PLC's Irish banking unit €2 million ($2.5 million) for violating capital and liquidity rules, including not having an adequate capital cushion and providing inaccurate liquidity reports.

CBI said that Ulster Bank Ltd. failed to hold own funds in excess of the minimum level required by CBI and failed to assess the and maintain the amount of internal capital it considers adequate to cover its exposure risks, violations of the central bank's capital adequacy...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.