Ulster Bank Fined EUR4.6 Million on Failures Over Mortgage Data
05 Março 2020 - 12:42PM
Dow Jones News
By Jaime Llinares Taboada
The Central Bank of Ireland said on Thursday that it reprimanded
and fined Ulster Bank, a subsidiary of Royal Bank of Scotland Group
PLC, 4.6 million euros ($5.1 million) for failing to meet the
Mortgage Arrears Resolution Targets Framework.
The Irish authority found breaches which took place between 2013
and 2015 regarding regulatory returns that were required under the
MART Framework.
The Central Bank said that Ulster Bank fell far short of the
governance standards applicable, but considered its full and frank
admissions and comprehensive investigation into the matter as
mitigating factors.
The MART was introduced in 2013 in Ireland among other measures
to resolve the high volume of mortgage arrears that developed in
the wake of the financial crisis.
Shares of Royal Bank of Scotland at 1502 GMT were down 7.00
pence, or 4.2%, at 161.25 pence.
Write to Jaime Llinares Taboada at jaime.llinares@wsj.com;
@JaimeLlinaresT
(END) Dow Jones Newswires
March 05, 2020 10:27 ET (15:27 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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