ECB fines JPMorgan's European arm 12.2 million euros for misreporting capital requirements

FRANKFURT, Feb 19 (Reuters) - The European Central Bank fined JPMorgan's (JPM) European arm ?12.18 million euros ($14.32 million) for ?misreporting capital requirements after it wrongly calculated risk-weighted ?assets, the ECB said in a ?statement on Thursday.

"Between 2019 and ?2024, the ?bank reported lower risk-weighted assets than it should ?have done," the ?ECB said. "This occurred because, for 15 consecutive quarters, the bank misclassified ?corporate exposures and ?applied ?a lower risk-weight for credit risk to them than what banking rules prescribe."

The ?bank also unduly excluded certain ?transactions when calculating risk-weighted assets, the ECB added in a decision that may be challenged at the Court ?of ?Justice of the European Union.

JPMorgan (JPM) said ?it acknowledged the fine and ?has remedied the issue.

"J.P. Morgan SE proactively identified and self-reported the issues, which have now been fully remediated," a spokesperson said in a statement.

"JPMSE has consistently maintained strong ?capital buffers, and our robust, prudent approach to capitalization remains unchanged."

($1 = 0.8506 euros) (Reporting ?by Balazs Koranyi; ?Editing by Sharon Singleton ?and Nia Williams)