Goldman Fined $7 Million by ECB Over Credit Risk Reporting

A screen displays the trading information for Goldman Sachs on the floor of the New York Stock Exchange (NYSE) in New York on Oct. 17, 2022. Brendan McDermid/Reuters

FRANKFURT—The European Central Bank (ECB) said on Monday it had fined Goldman Sachs’ European unit 6.63 million euros ($7.3 million) for underreporting the risk associated with some corporate credit, thereby flattering its balance sheet.

Goldman Sachs said in a statement it had “closely cooperated with the ECB” and “taken all necessary steps” to resolve the issue.