BaFin

Topic Measures BaFin imposes an administrative fine on Bank of China Limited, Frankfurt branch ("BoC"):

Date: 17.09.2015

The Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht – BaFin) has imposed an administrative fine of EUR 25,000 on Bank of China Limited, Frankfurt branch. The fine was imposed owing to negligent violations of the provision contained within Article 395(2) of the Capital Requirements Regulation (CRR) in conjunction with section 56 (5) nos. 17 and 19 of the German Banking Act (Kreditwesengesetz – KWG). The institution did not observe the limits to large exposures (Article 395 of the CRR) and did not correctly notify BaFin thereof.

The decision to impose an administrative fine is based on section 56 (5) nos. 17 and 19 of the KWG. This decision is published in accordance with section 60b of the KWG.

The administrative order imposing the fine became legally effective on 1 September 2015.

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