Navigation path

Login   |   Register
 

Advanced search Search in:    Audio    Photo    Video    Shotlist


OR









Extracts from the press conference by Joaquín Almunia on the statement of objections to 13 investment banks, ISDA and Markit in credit default swaps investigation

2,476 views

On 1 July 2013, Joaquín Almunia, Vice-President of the EC in charge of Competition, held a press conference on the statement of objections sent by the EC to 13 investment banks, ISDA and Markit in credit default swaps investigation. The EC informed some of the world's largest investment banks of its preliminary conclusion that they infringed EU antitrust rules that prohibit anti-competitive agreements by colluding to prevent exchanges from entering the credit derivatives business between 2006 and 2009. The sending of a statement of objections does not prejudge the final outcome of the investigation. The statement of objections is addressed to Bank of America Merrill Lynch, Barclays, Bear Stearns, BNP Paribas, Citigroup, Credit Suisse, Deutsche Bank, Goldman Sachs, HSBC, JP Morgan, Morgan Stanley, Royal Bank of Scotland, UBS as well as the International Swaps and Derivatives Association (ISDA) and data service provider Markit. The Commission takes the preliminary view that the banks acted collectively to shut out exchanges from the market because they feared that exchange trading would have reduced their revenues from acting as intermediaries in the OTC market.
PHOTO SHOTLIST

Type: EbS   Reference: I-080204   Date: 01/07/2013   Duration: 00:01
To download, please log in



Related media

Press conference by Joaquín Almunia, Vice-President of the EC, on the statement ...
Ref: P-023644/00-01
Date: 01/07/2013
Extracts from the press conference by Joaquín Almunia on the statement of ...
Ref: I-080204
Date: 01/07/2013
Press conference by Joaquín Almunia on the statement of objections to 13 ...
Ref: I-080203
Date: 01/07/2013
Video Player   Need some help?


Investment plan


Sat 25/04
European Commission - Press release Brussels, 25 April 2015 EU Commissioner for Humanitarian Aid and Crisis Management, Christos Stylianides, who is visiting South Sudan, announces that the Commission is requesting new vital support in the amount of €50 million from the European Union for the victims of this humanitarian crisis.
Sat 25/04
European Commission - Statement Brussels, 25 April 2015 In the aftermath of the earthquake that hit Nepal and India, High Representative and Vice-President Federica Mogherini, the EU Commissioner for Development Neven Mimica and the Commissioner for Humanitarian Aid and Crisis Response Christos Stylianides made the following statement:  We are deeply...
Sat 25/04
European Commission - Statement Riga, 25 April 2015 (speaking in Latvian) Minister,  Ladies and Gentlemen,  This is the final day of the informal meeting of European Union Finance Ministers in Riga. I would like to thank Minister Reirs, the Latvian Presidency and its team for the substantial work that they have invested in the organisation...
Fri 24/04
European Commission - Top news Top Top Brussels, 24 April 2015 Background notes from the Spokesperson’s service for journalists The European Commission reserves the right to make changes 28/4: Commission to adopt European Agenda on Security 29/4: The Commission adopts its monthly infringements package 5/5: The Commission publishes Spring European...
Fri 24/04
European Commission - Commissioners' weekly activities Brussels, 24 April 2015 (Susceptible de modifications en cours de semaine) Déplacements et visites Lundi 27 avril European Parliament Plenary Session (27-30/04, Strasbourg). President Jean-Claude Juncker, Ms Federica Mogherini, Mr Johannes Hahn and Mr Maroš Šefčovič in Kyiv, Ukraine.
Fri 24/04
European Commission - Press release Brussels, 24 April 2015 The European Commission has cleared under the EU Merger Regulation the proposed acquisition of several assets of Holcim of Switzerland and of Lafarge of France by Irish building materials manufacturer CRH.
Fri 24/04
- Press release European Commission contributes EUR 295 million in additional resources to the Neighbourhood Investment Facility Brussels, 24 April 2015 The Neighbourhood Investment Facility brings additional investments in transport, energy and environment infrastructure, including climate change mitigation and adaptation, and to the development of social and private sectors in...
Fri 24/04
European Commission - Press release Brussels, 24 April 2015 As we mark the second anniversary since the collapse of the Rana Plaza factory complex in Bangladesh, which claimed 1,129 lives, progress on labour and safety issues has been made, while further improvements have to be achieved.
Fri 24/04
European - Press release Commission Brussels, 24 April 2015 The Commission today adopted 10 new authorisations for Genetically Modified Organisms (GMOs) for food/feed use, 7 renewals of existing authorisations and also the authorisation for the importation of 2 GMO cut flowers (not for food or feed).
Fri 24/04
European Commission - Press release Brussels, 24 April 2015 A report commissioned by the European Commission to the European Social Policy Network of independent experts published today shows that Member States have made progress in implementing reforms toward the modernisation of the social protection systems but there is still a...

Go to useful links page Useful links

Go to rss page Go to EU Tube page Go to twitter page Go to facebook page Go to contact page


Credit © European Union, 2015