CCROM - Competition Council of Romania

Romania Fines Banks $710M for Manipulating ROBOR Rates ING Bank, Raiffeisen, UniCredit, and Banca Transilvania, among ten financial institutions, have been fined a total of 3.73 billion lei (approximately 710 million) by Romanian authorities for manipulating the ROBOR benchmark rates. This illegal activity involved coordinating contacts and exchanging information, potentially impacting interest rates on certain loans. The fine represents the largest penalty ever imposed by the Romanian watchdog.