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Bank of England fines Citigroup 44 million pounds for regulatory failures - Metro US

Bank of England fines Citigroup 44 million pounds for regulatory failures

FILE PHOTO: A bird flies past The Bank of England in the City of London, Britain, December 12, 2017. REUTERS/Clodagh Kilcoyne
Reuters

LONDON (Reuters) – The Bank of England fined Citigroup 43.9 million pounds ($56.3 million) on Tuesday, saying the U.S. banking group’s British operations failed to provide accurate regulatory returns to the BoE between 2014 and 2018.

“While Citi remained in surplus to its liquidity and capital requirements at all times, the failings persisted over a significant length of time and were serious and widespread in nature,” the BoE said.

(Reporting by David Milliken; Editing by William Schomberg)

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