The European Commission will send statements of objections to 120 banks and federations next week following an investigation into suspected price-fixing…

Date: 22/06/2000

...in setting charges for exchanging currencies in the 11-nation euro zone, competition chief Mario Monti told a European Parliament committee. He added that further warnings would be issued to banks in other countries before the summer. Officials refused to give any details of which banks would be targeted. The Commission launched its probe in February last year, with raids on banks in Germany, France Italy and Spain, followed by more later in the year in the Netherlands, Belgium and Ireland.