Global banking heavyweights Crédit Agricole, HSBC and JPMorgan Chase have been fined over half a billion dollars by the European Commission for their part in an interest rates rigging operation.
The EU says the banks benefitted from their membership of a cartel which manipulated Euribor - the eurozone benchmark borrowing rate.
Our Europe correspondent Jack Parrock explains which banks have been fined in this case.
IN: "The fines..."
OUT: "...Euribor."
DUR: 50 secs
ALT
The EU's competition commissioner Margerthe Vestager (Marg-ar-retta Ves - layer) says the fines are warranted to ensure competition in Europe's financial sector.]
IN: "The traders ..."
OUT: "...Euribor rate."
DUR: 32 secs