European Regulators Investigate Banks for Credit Swaps

Ever since the financial crisis, when derivatives were blamed for exacerbating the panic, regulators have been looking for ways to make these complex financial instruments less risky. Now, regulators are also considering whether a small network of big banks unfairly controls the derivatives market itself.

Francois Lenoir/Reuters

Joaquín Almunia, the European Union competition commissioner.

The New York Times

 

European regulators in Brussels announced two sweeping antitrust investigations into the world’s largest banks on Friday, opening a second front in the battle to rein in a $600 trillion business that until now has operated mostly in the shadows. The regulators are focusing on whether the banks have shut out competitors in recent years in a bid to keep profit margins high.

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