World Economy

ECB Fines Irish Bank

ECB Fines Irish BankECB Fines Irish Bank

The European Central Bank has fined bailed-out Irish bank permanent tsb (PTSB) for falling short of cash requirements, it said on Monday, the first such move since taking over banking supervision in 2014, Reuters reported. The €2.5 million ($2.98 million) fine adds to PTSB’s woes as the mortgage lender is still battling with the aftermath of a ten-year old property crash in Ireland that left the sector saddled with unpaid loans, forcing government rescues.


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