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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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European investigation against 4 international banks exchanged sensitive information .. Threatened b

rocky
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European investigation against 4 international banks exchanged sensitive information .. Threatened b Empty European investigation against 4 international banks exchanged sensitive information .. Threatened b

Post by rocky Sat 29 Dec 2018, 3:20 am

European investigation against 4 international banks exchanged sensitive information .. Threatened by heavy fines


European Commission suspects that four international banks will make understandings in the secondary market for dollar-denominated bonds between 2009 and 2015, an investigation that could lead to heavy fines. 
The four banks are Credit Agricole (French), Credit Suisse (Swiss), Deutsche Bank (Deutsche Bank) and Bank of America Merrill Lynch. 
Brussels suspects that at different times between 2009 and 2015, the four banks exchanged sensitive trade information and harmonized their prices for dollar-denominated sovereign bonds in the European Economic Area, the EU executive said. 
The TRA points out that communications were mainly held in online discussion forums and that the investigation was related to the behavior of some "financial intermediaries" in these four banks. However, the Commission stressed that informing banks of their doubts did not prejudge the outcome of the investigation.
The European Commission's investigation is a further blow to the reputation of the European banking sector, which has already been hit by the billions of dollars in fines paid by major European banks to manipulate exchange rates and the LIBOR rate, which is used as a reference for billions of dollars in financial transactions worldwide. 
And "Libor" is the interest rate calculated from the estimates provided by leading banks in London. Each bank estimates the amounts to be collected if borrowed from other banks. The resulting rate is usually shortened to "LIBOR". 
The European executive has not designated the institutions concerned that are subject to a maximum penalty of 10 per cent of their global gross sales rate if they are found guilty of violating European competition rules.
But in a separate statement, Credit Suisse, the second-largest Swiss bank, said it was "in the same calm," and that the European Commission's doubts were only about "one former employee." He said he had cooperated with the European authorities during her investigation, pointing out that the case concerned only one employee, leaving the bank in 2016. 
Deutsche Bank, which has already paid more than 2.6 billion euros to settle disputes with the European Commission, including the dispute Concerning the manipulation of "Libor", he cooperated with the European Commission "proactively" and does not expect a fine. 
The European Union generally does not recognize the reports of Kashfu Corruption, which report illegal acts in this type of file.
A corruption detector is someone who discloses alleged misconduct, fraud, or illegal activity in the institution. The alleged misconduct can be classified in several ways; for example, a violation of a law, rule or legislation that poses a direct threat to the public good such as fraud, health, safety and corruption violations. Kashfu may report corruption internally (eg, to other persons within the institution) or externally (to observers, law enforcement agencies, media or groups dealing with corruption issues). 
Shortly afterwards, Crédit Agricole, who received a € 114.6 million fine in 2016 for his participation in Libor interest rate fraud, said he had received a statement from the European Commission's judicial system, specifically on the secondary bond market. He said Credit Agricole SA and Credit Agricole CIB would review and answer the letter.
Despite these data, the value of the shares of Credit Agricole fell from 4.0 per cent to 9.48 per cent, while the European Banking Index lost 2.48 per cent. Deutsche Bank shares shed 7.04 per cent of their value and Credit Suisse shares fell 3.79 per cent.


http://economy-news.net/content.php?id=14915

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