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

2483 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: Summary of press conference   Reference: I-080204   Date: 01/07/2013   Duration: 02:18   Personalities: Joaquín Almunia Aman   Location: Brussels - EC/Berlaymont  
Languages: ORIGINAL,
© European Union, 2013   /   Source: EC - Audiovisual Service
Director: Elaine Codogno
To download, please log in



Related videos

14:08 Press conference by Joaquín Almunia on the statement of objections to 13 investment banks, ISDA and Markit in credit default swaps investigation
Press conference by Joaquín Almunia on the statement of objections to 13 ...
Ref: I-080203
Date: 01/07/2013
02:18 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
Extracts from the press conference by Joaquín Almunia on the statement of ...
Ref: I-080204
Date: 01/07/2013

Related photos

Press conference by Joaquín Almunia, Vice-President of the EC, on the statement of objections to 13 investment banks, ISDA and Markit in credit default swaps investigation
Press conference by Joaquín Almunia, Vice-President of the EC, on the statement ...
Ref: 023644
Date: 01/07/2013
Video Player   Need some help?


You don't find what you are looking for? Ask us!


Fri 30/09
European Commission - Upcoming events The news: The European Commission in December proposed to establish a new Agency – designed to meet the new challenges and political realities faced by the EU, both as regards migration and internal security.
Fri 30/09
European Commission - Commissioners' weekly activities Brussels, 30 September 2016 ­­­­­(Susceptible de modifications en cours de semaine) Déplacements et visites Lundi 3 octobre European Parliament plenary session, in Strasbourg (03-06/10). Informal Meeting of Employment, Social Policy and Health Ministers (until 04/10), in Bratislava.
Fri 30/09
European Commission - Daily News Daily News 30 / 09 / 2016 Brussels, 30 September 2016 Investment Plan for Europe: EUR 65 million for innovative businesses in Bulgaria and Slovakia as EIF and CIBANK sign agreement The European Investment Fund (EIF) and CIBANK have signed an InnovFin agreement to enhance...
Fri 30/09
European Commission - Speech - [Check Against Delivery] Brussels, 30 September 2016 Press Conference, Extraordinary Environment Council   Firstly, I would like to thank László and the Slovak Presidency for convening this extraordinary meeting of the Environment Council. This is indeed an extraordinary day. A historic day.
Fri 30/09
European Commission - EUROSTAT Brussels, 30 September 2016 Euro area annual inflation is expected to be 0.4% in September 2016, up from 0.2% in August 2016, according to a flash estimate from Eurostat, the statistical office of the European Union.
Fri 30/09
European Commission - EUROSTAT Brussels, 30 September 2016 The euro area (EA19) seasonally-adjusted unemployment rate was 10.1% in August 2016, stable compared to July 2016 and down from 10.7% in August 2015. This remains the lowest rate recorded in the euro area since July 2011.
Fri 30/09
European Commission - Statement Brussels, 30 September 2016 In a historic move, EU ministers today approved the ratification of the Paris Agreement by the European Union. The decision was reached at an extraordinary meeting of the Environment Council in Brussels.
Fri 16/09
European Commission - Upcoming events The news: On Thursday 29 September 2016, the European Commission will adopt its monthly infringements package. These decisions seek to enforce EU law across Europe so that citizens and businesses can benefit fully from the internal market.
Thu 29/09
European Commission - Press release Brussels, 29 September 2016 On behalf of the European Commission, Commissioner for International cooperation and Development Neven Mimica has announced new support for the people of Mali.
Thu 29/09
- Press release European Commission Brussels, 29 September 2016 EU-Commissioner Marianne Thyssen and Vice-President Jan Vapaavuori of the European Investment Bank (EIB) have presented a new Guide to the Statistical Treatment of Public Private Partnerships in Brussels today.

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, 2016