Romania’s competition body bases record fine against major banks mainly on “behaviour"

Speaking in a press conference and later for Europa FM, the president of the Romanian Competition Council, Catalin Chiritoiu, claimed that there is hard evidence revealing communication between the ten banks fined for collusion on ROBOR fixing, but he stressed that the decision was mostly based on the fact that the banks were able to see each other’s quotations. In the meantime, banks have seriously criticised the ruling, and the National Bank of Romania (BNR) has identified inconsistencies in the Council’s decision and is seeking clarifications.

“It is important to see a clarification from the Competition Council, especially for public opinion, about what anti-competitive practices are involved, what was violated in this regulation that the Council says it does not challenge, but at the same time sentences,” said BNR spokesperson Dan Suciu, cited by Radio Romania.