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2026-02-20 13:27:40
[ECB Fins JPMorgan Chase €12.18 Million] The European Central Bank (ECB) announced on the 19th that it has imposed an administrative fine of €12.18 million on JPMorgan Chase's European subsidiary for violating reporting rules and providing incorrect information regarding capital requirements. This is reportedly the largest fine ever levied by the ECB. In a statement, the ECB said that from 2019 to 2024, JPMorgan Chase reported risk-weighted assets lower than their actual levels. This was due to misclassifying corporate risk exposures for 15 consecutive quarters and using credit risk weights lower than those required by banking rules. Furthermore, JPMorgan Chase improperly excluded certain transactions when calculating risk-weighted assets for 21 consecutive quarters. The statement said that JPMorgan Chase submitted incorrect financial data to the ECB, preventing the ECB from fully understanding its risk profile. (CCTV)
