[HIGHLIGHTS] ECB fines Goldman Sachs €6.6 million

The European Central Bank has imposed a severe fine of 6.63 million euros on the American bank Goldman Sachs. The US financial giant was sanctioned for "breaching the rules for reporting credit risk," the ECB said.

Goldman Sachs said in a statement that it recognizes "the critical importance of (its) regulatory reporting obligations" The heaviest fine was imposed in July 2017 on the Italian bank Banca Popolare di Vicenza in the amount of €8.7 million. The ECB, the sole supervisor of some 115 largest banks in the euro zone, has already imposed some twenty sanctions.