Central Bank fines AIB €490k for liquidity reporting lapses

The Central Bank has fined AIB €490,000 for breaking rules on reporting liquidity requirements on four occasions over a six-year period.

The breaches took place between Sept 2007 and May 2013 and relate to four separate cases over that period. All of them highlight a failure of internal controls to ensure that the proper regulatory reporting was made to the Central Bank.

All banks are required to analyse incoming and outgoing cash flows over a set period for regulatory purposes. The bank is required to meet minimum liquidity levels relative in scale to these cash flow movements.