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

2482 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 media

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
Video Player   Need some help?


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


Mon 25/07
European Commission - Press release Brussels, 25 July 2016 The Commission has concluded that aid granted by Spain to railway operator ADIF for the construction of a high-speed train test centre in Andalusia does not meet a genuine objective of common interest.
Mon 25/07
European Commission - Fact Sheet Brussels, 25 July 2016 Spanning seven years (2014 to 2020) and working with a budget of €77 billion, Horizon 2020 is the biggest EU research and innovation funding programme ever. Today, the European Commission confirmed the calls and other actions of the second year of...
Mon 25/07
European Commission - Daily News Daily News 25 / 07 / 2016 Brussels, 25 July 2016 Commission presents breakdown of €8.5 billion investment in research and innovation in 2017 The European Commission today updated the 2017 work programme of Horizon 2020, the EU's research and innovation scheme, which will invest...
Sat 23/07
European Commission - Press release Baghdad, 23 July 2016 Commissioner Stylianides announces €104 million for live-saving humanitarian assistance during his third visit to Baghdad, Iraq. The European Commission has announced new humanitarian aid projects worth €104 million to help those affected by the rapidly intensifying conflict in Iraq.
Thu 30/06
European Commission - Upcoming events The news: On Friday 22 July 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.
Fri 22/07
European Commission - Commissioners' weekly activities Brussels, 22 July 2016 (Susceptible de modifications en cours de semaine) Déplacements et visites Lundi 25 juillet Mr Günther Oettinger in Kyiv, Ukraine: meets with Mr Stepan Kubiv, Vice Prime Minister of Ukraine, Minister of Economic Development and Trade; and with Mr Oleksandr Danchenko,...
Fri 22/07
European Commission - Press release Brussels, 22 July 2016 Health and Safety: Commission refers LUXEMBOURG to the Court of Justice of the EU over failure to transpose Packaging & Labelling Directive into national law The European Commission is referring Luxembourg to the Court of Justice of the EU over the failure to...
Fri 22/07
European Commission - Press release Brussels, 22 July 2016 The Commission has decided to refer Greece to the European Court of Justice because it failed to comply with a 2008 Commission decision ordering the recovery of unlawful aid to Hellenic Shipyards.
Fri 22/07
European Commission - Press release Brussels, 22 July 2016 The first report based on the new "EU International Cooperation and Development Results Framework" provides a selection of results achieved in about 100 partner countries across the globe with the support of EU-funded projects and programmes.
Fri 22/07
European Commission - Press release Brussels, 22 July 2016 Commission refers Greece, Luxembourg and Romania to the Court of Justice of the EU for failure to transpose the Directive on a single European railway area. Today, the European Commission decided to refer Greece, Luxembourg and Romania to the Court of...

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