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# European Commission on Banks: "Appalling Examples of Misconduct"

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<!-- video src="https://cdn.jwplayer.com/manifests/vNDQF5Iu.m3u8" -->
## Video: European Commission on Banks: "Appalling Examples of Misconduct"

[Watch (HLS stream): European Commission on Banks: "Appalling Examples of Misconduct"](https://cdn.jwplayer.com/manifests/vNDQF5Iu.m3u8) (0:58)

![European Commission on Banks: "Appalling Examples of Misconduct"](https://cdn.jwplayer.com/v2/media/vNDQF5Iu/poster.jpg?width=720)

_Published 2013-12-04. Banks face hefty fines for tampering with global interest rate benchmarks._


---

Jul 27, 2023 3:59 PM UTC

---

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### European Central Bank Stimulus Expected To Top 1 Trillion Euros

[Why The Swiss National Bank Set A -0.75% Interest Rate](/video/Qk5PqkoZ/)

### Why The Swiss National Bank Set A -0.75% Interest Rate

---


## Transcript

This is the highest total amount ever imposed by the Commission for breaches of antitrust rules. Even if some entities under investigation have not participated in the settlement and our procedures referring to them continue. To work properly and bring benefits to the real economy, transparency and healthy competition are crucial. Obviously the picture may look very different if derivatives markets are rigged to benefit the private interest of a few because financial institutions decide to collude instead of competing. Desertions taken today provide appalling examples of such misconduct and if you had the opportunity to look at some of the conversations through internet of some of the traders involved in this cartel decisions, you will be appalled also.

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