DUBLIN, Aug. 28 (Xinhua) -- The European Central Bank (ECB) on Monday imposed on an Irish bank administrative penalties in an overall amount of 2.5 million euros (2.99 million U.S. dollars).
In a statement, the Frankfurt-based central bank for the euro said Permanent TSB Group Holdings plc was found in breach of ECB decisions imposing specific liquidity requirements.
Breaches occurred between Oct. 27, 2015 and April 26, 2016, the ECB said.
Permanent TSB Group Holdings plc, formerly Irish Life and Permanent plc, is a provider of personal financial services in Ireland.
But the ECB said the breaches did not change the liquidity position of PTSB and that the bank has since fully rectified the issue.
This is the first time a penalty has been imposed on a euro zone bank since the ECB assumed responsibility for the regulation of the area's banks in 2014.
Meanwhile, Permanent TSB said it has cooperated fully with the ECB on the matter.
The Irish bank said it had a liquidity buffer of 4 billion euros at the time of the breaches and its liquidity position was not impacted during the timeframe when the breach happened.
At present, its liquidity buffer is in excess of 6.5 billion euros. (1 euro = 1.2 U.S. dollars)
