BoE fines Metro Bank US $ 7 M

The Bank of England has fined Metro Bank 5.38 million pounds ($7.13 million) for failures in its regulatory reporting after the lender revealed an accounting blunder in 2019.

Metro Bank said in January 2019 it had corrected risk weightings of some of its commercial loan portfolios, wiping hundreds of millions of pounds off its share value and forcing its top bosses to quit.