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RBS Irish unit fined $2.5 mln over liquidly, capital rules
November 19, 2012 / 11:56 AM / 5 years ago

RBS Irish unit fined $2.5 mln over liquidly, capital rules

DUBLIN, Nov 19 (Reuters) - The Irish Central Bank has fined Royal Bank of Scotland’s Irish unit 2 million euros ($2.5 million) over violations relating to the management of liquidity risk and capital adequacy.

The central bank said in a statement that Ulster Bank had failed to apply the correct haircuts to four categories of retail and corporate deposits and had failed to maintain effective internal controls for the management of liquidity risk.

It said the bank failed to notify the central bank immediately of the contraventions, which took place between Jan. 26 and Sept. 13, 2011.

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