Euro interest rate derivatives (EIRD) (AT.39914) [Archived]

Published by a LexisNexis Competition expert
Practice notes

Euro interest rate derivatives (EIRD) (AT.39914) [Archived]

Published by a LexisNexis Competition expert

Practice notes
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CASE HUB (NOTE—appeals lodged before the Court of Justice in Cases C- 806/19 P and C- 883/19 P

ARCHIVED–this archived case hub reflects the position at the date of the final decision of 28 June 2021; it is no longer maintained.

See further, timeline, commentary and related cases.

Case facts

OutlineEuropean Commission Article 101 TFEU investigation into a cartel in the Euro interest rate derivatives (EIRD) market (Case AT.39914).
Latest developmentsOn 28 June 2021, the Commission amended and re-adopted its decisions relating to the euro interest rates derivatives cartel, following the General Court’s judgment of 24 September 2019 which confirmed HSBC’s participation in the cartel but annulled the fine imposed on it on the grounds that the Commission’s decision of 7 December 2016 was insufficiently reasoned in this regard.
Parties• Barclays• Deutsche Bank• Société Générale • RBS • Crédit Agricole• HSBC• JPMorgan Chase
Market(s)Euro interest rate derivatives (EIRD). Derivatives are contracts that are traded on financial markets. They manage the risk of interest rate fluctuations and act as an insurance against price movements and reduce volatility of
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Jurisdiction(s):
United Kingdom
Key definition:
Interest definition
What does Interest mean?

The return earned on funds which have been loaned or invested (ie the amount a borrower pays to a lender for the use of their money).

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