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BNP Paribas Fortis sanctioned by ECB for misreporting capital requirements

( December 20, 2024, 17:27 GMT | Official Statement) -- MLex Summary: BNP Paribas Fortis has been fined 10.4 million euros for intentionally breaching EU rules on credit risk reporting. The bank understated its risk-weighted assets connected to factoring exposures of its subsidiary in Belgium between 2014 and 2021 and used internal models for calculating its own funds' requirements for these exposures that had severe deficiencies, the European Central Bank says.Press release follows. ...

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