Various major banks currently under investigation by the European Commission over concerns regarding the manipulation of benchmark interest rates such as LIBOR are reportedly hoping for a quick ruling from regulators. In a statement made by Commissioner Joaquin Almunia to reporters in Berlin on Thursday, he noted that a “quick decision” is most likely what the businesses are hoping to encounter. The Commission is seeking a resolution, including fining the banks alleged to have manipulated the rates, by the end of the year, according to two sources. Those sources also suggested that some banks may settle earlier, perhaps by October. The Commission is currently looking into Barclays Blc, Deutsche Bank AG, UGB AG and Royal Bank of Scotland Group Plc.
Full Content: Bloomberg
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Redfin Settles $9.2M Commission Inflation Lawsuits
May 7, 2024 by
CPI
DOJ Supports Colorado’s Efforts to Block Kroger-Albertsons Merger
May 7, 2024 by
CPI
Japan Considers Regulation of AI Developers
May 7, 2024 by
CPI
European Commission Extends Decision Deadline for Ita-Lufthansa Merger
May 7, 2024 by
CPI
UK, US and Australia Sanction Senior Leader of LockBit Cybercrime Gang
May 7, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI