The European Central Bank (ECB) fined the Spuerkeess around 1.7 million euros due to reporting errors in the years 2018 to 2023.

In a written statement, Spuerkeess explained that the reporting faults concern the risk valuation that calculates how much equity needs to be set aside by the bank.

Nonetheless, even after correcting the two mistakes, the bank far exceeded the capital threshold as per the ECB regulations.

Upon further inquiry by RTL, Secretary General Marco Rasqué da Silva stressed that the bank's stability and customer deposits were at no point at risk.

He explained that the bank is monitored directly by the ECB, and not by the Luxembourgish financial supervision authority CSSF, simply because it is a systematically relevant bank in terms of equity capital.