HeadlinesBriefing favicon HeadlinesBriefing.com

Australia Orders ING to Raise Capital on Liquidity Reporting Errors

Bloomberg Markets •
×

Australia's banking regulator imposed additional capital requirements on ING Bank Australia Ltd. after the lender revealed it had misreported its liquidity position over several years. ING faces an additional A$50 million ($36 million) operational risk capital add-on, the Australian Prudential Regulation Authority said in a Thursday statement. That is 'to address heightened operational risk and potential broader weaknesses in its prudential reporting,' according to the statement.