PTSB defends liquidity after €2.5m ECB fine

Permanent TSB has been fined almost €2.5m by the ECB’s banking supervision arm for breaching liquidity requirements at certain points in the last two years, writes Geoff Percival.

It marks the first time a eurozone-based bank has been sanctioned in this regard since the ECB took over responsibility for regulating the region’s banks, and preventing another financial crash, three years ago.

PTSB — which is 75%-owned by the State — said the fine had been paid and the breaches had not harmed its liquidity levels.