The fixing of the Libor and Euribor benchmark rates has proven vulnerable to manipulation. Individual rate-setters may have incentives to fraudulently distort their submissions. For the contributing banks to collectively agree on the direction in which to rig the rate, however, their interests...

The fixing of the Libor and Euribor benchmark rates has proven vulnerable to manipulation. Individual rate-setters may have incentives to fraudulently distort their submissions. For the contributing banks to collectively agree on the direction in which to rig the rate, however, their interests...

Competition law compliance has become increasingly important in the banking industry as the number of infringements and the associated fines imposed by the European Commission are rising. This article shows that not only governments and regulators, but also shareholders and managers, should be...

The Authority for Consumers & Markets has conducted a study into the potential effects of standard products on competition in the financial sector. The analysis shows that it is not likely that standard products will increase competition in financial markets. There is a risk that providers...

We study how deposit competition affects a bank’s decision to securitize mortgages. Exploiting the state-specific removal of deposit market caps across the US as a source of competition, we find a 7.1 percentage point increase in the probability that banks securitize mortgage loans. This...

Business combination in the banking sector plays a significant role in any given economy as proponents purport that it is a catalyst for attaining economies of scale to realise competitive advantage through cost and quality differential. Opponents postulate that big banks abuse their position...

This paper analyses the merger control instruments available to overcome a crisis of a company and highlights their role in the 2008/09 global financial market crisis. It concludes that the German merger control regime is well equipped to overcome any (further) banking crisis as long as the...

This article deals with the decisional practice on banking mergers the Italian Competition Authority (AGCM) has developed since 2006 when it was given full jurisdiction over banking. More precisely, the article focuses on the noteworthy aspects of the AGCM practice that are believed to be the...