The European Central Bank fined JPMorgan’s European division €12.18 million ($14.32 million). The penalty addresses misreported capital requirements over a five-year period.
JPMorgan incorrectly calculated risk-weighted assets for 15 consecutive quarters. These errors occurred between 2019 and 2024. The bank misclassified corporate exposures and applied lower risk weights than banking regulations require.
JPMorgan identified, self-reported, and remediated the issues. The bank maintains strong capital buffers.