commiss decis june relat proceed articl ec treati case comp austrian bank quot lombard club quot notifi document number german text authent ec content gt tabl gt commiss european commun regard treati establish european commun regard council regul februari regul implement articl treati amend regul ec articl thereof regard commiss decis septemb initi proceed case undertak concern opportun make view object rais commiss accord articl regul commiss regul ec decemb hear parti proceed articl ec treati regard final report hear offic case consult advisori committe restrict practic domin posit introduct past austria long tradit agreement interest rate charg fee austrian bank base measur statut law year bank creat close network committe cover conceiv subject unannounc investig commiss june regularli fourth work dai averag coordin conduct respect essenti factor competit awar relev agreement antitrust point view larg vain turn mixtur evas decept destruct record cover erad trace meet establish fact commiss reli larg number seis origin document date relev period minut meet memoranda record telephon convers correspond express object profound effect agreement restrict competit constitut clear unequivoc infring articl ec treati punish fine structur decis introduct featur austrian bank market essenti understand case section descript import bank bank group involv addresse decis product servic cover cartel section review main procedur step section background organis structur function object round talk committe lombard network discuss section chronolog account main cartel meet section separ section devot select special committe section main argument put forward undertak discuss legal assess fact section reflect procedur issu section discuss penalti section found end decis austrian bank market high level public ownership austrian bank recent time explain pursuit profit back seat quest increas turnov higher market share admiss respons bank execut make calcul base busi econom consum lend sphere led background stagnat demand credit oversuppli declin interest margin bank competit lead declin margin point price fall averag cost consid undertak concern quot destruct quot circumst undertak face basic altern steadi declin earn lead shakeout exit market capac reduct result merger player market restrict competit induc oversuppli slow stop collaps price upshot excess price artifici mainten ineffici market structur austrian bank opt part altern ow bank view quot uncontrol risk quot scenario shakeout regard bank suitabl start point busi initi arous quot fear quot bank strove achiev quot disciplin quot quot orderli quot competit brought agreement cartel agreement prove mean combat call quot destruct cut throat competit quot free competit simpli term episod unrestrict competit bank quot hyperact quot charg context factor competit quot joint earn opportun quot detriment custom fact austrian bank endeavour achiev improv margin mean coordin action jointli expens consum individu expens competitor run leitmotif investig bank admit cartel effect prevent shakeout extens standardis product public quot post counter quot interest rate regular price comparison media consum bodi austrian bank market highli transpar order increas transpar monitor complianc cartel agreement minimis effect secret competit deviat publish interest rate austrian bank regularli carri extens check quot competit monitor exercis quot competitor reach agreement quot ongo direct contact respect departur quot agreement quot presum alleg exist custom supposedli establish quot quot offer light varianc agre principl quot cartel member assum respons quot coordin clarif fact quot check rule minut cartel meet juli bank austria repres propos quot competit monitor exercis dispens august quot case temptat bank concern undercut agre rate increas market share prove great undertak product concern credit institut major segment part conduct issu long overdu shakeout bank group strong posit austrian bank market hypovereinsbank own bank austria save bank group erst bank agricultur credit cooper group raiffeisen zentralbank bank für arbeit und wirtschaft postsparkass distanc credit union group övag decis address credit institut bank austria aktiengesellschaft hereinaft call ba ba merger creditanstalt ag hereinaft call ca septemb ba largest bank group austria result asset merger earli bayerisch hypo vereinsbank ag hereinaft call hvb acquir sole control entir ba group ba group market share approxim austria group branch emploi peopl erst bank der österreichischen sparkassen ag hereinaft call erst merg girocredit bank aktiengesellschaft der sparkassen octob erst lead institut save bank group consist save bank largest bank group austria market share save bank group erst approxim group branch austria emploi peopl raiffeisen zentralbank österreich ag hereinaft call rzb rzb lead institut austrian agricultur credit cooper group tier structur branch agricultur credit cooper group market share approxim emploi peopl function repres agricultur credit cooper group rzb engag bank busi focus foreign busi larg custom bank für arbeit und wirtschaft aktiengesellschaft hereinaft call bawag decemb bawag princip sharehold österreichisch postsparkass aktiengesellschaft psk result extens organis converg institut bawag psk group branch austria market share approxim account bawag psk österreichisch postsparkass aktiengesellschaft hereinaft call psk psk merger effect octob legal successor bank der österreichischen postsparkass aktiengesellschaft hereinaft call psk österreichisch volksbanken ag hereinaft call övag övag lead institut tier credit union sector consist approxim independ credit union primari level credit union cooper close import area organis market turn major sharehold övag market share credit union group approxim group branch austria emploi peopl nö landesbank hypothekenbank ag hereinaft call nö hypo januari nö hypo member övag group activ primarili vienna lower austria market share reckon exce raiffeisenlandesbank niederösterreich wien reg gen mbh hereinaft call rlb immedi transfer bank busi raiffeisenbank wien reg gen mbh raiffeisenbank wien ag rbw merg regist princip sharehold rlb sphere activ rlb rbw confin feder capit vienna market share abovement bank bank group offer area retail bank corpor bank product servic typic provid univers bank shown section follow austrian bank cartel relat rang product servic save lend rate charg fee cover factor competit advertis contact media consum repres calcul base sharp increas recent year volum loan grant manufactur servic enterpris invest purpos grew attribut thing increas export activ categori borrow larg small medium size enterpris deposit foreign bank austrian credit institut total eur billion loan grant austrian credit institut foreign bank amount approxim eur billion februari austrian credit institut maintain save deposit account behalf foreign custom proceed april member manag board austrian bank commit suicid left note number enclosur public prosecutor offic opposit parti enclosur list measur improv bank earn quot lombard quot written hand commiss awar exist document agenda record meet held prepar ground investig suspect competit restrict agreement concert practic june freedom parti lodg complaint invok articl regul austrian credit institut suspect competit restrict agreement inspect june commiss offici accompani offici feder austrian ministri econom affair carri basi commiss decis june unannounc inspect premis ba ca erst rzb psk bawag psk oppos inspect offici feder ministri econom affair arm order presid cartel court carri search bank premis pursuant articl austrian code crimin procedur read conjunct articl eu competit act bgbl bgbl inspect search offici commiss feder ministri econom affair found extens written evid list particip record meet memoranda intern note confirm suspicion exist prohibit agreement concert practic request inform septemb commiss credit institut refer credit institut associ request inform pursuant articl regul addresse ask furnish date name particip committe meet submit document undertak reaction receiv request inform largest bank concern request meet commiss director gener competit offer meet quot cooper quot establish fact quot cooper quot bank answer request inform state fact quot voluntarili quot waiv hear return director gener competit insist request inform answer impos quot moder quot fine director gener welcom principl bank willing cooper reject idea deal bank commiss point proceed run request inform answer time full regard quot voluntari quot statement fact propos bank director gener bank natur remain liberti independ time complet answer commiss request inform commun fact cover request commiss individu case commun fact involv case fact natur make substanti contribut establish infring form subject matter fine reduc quot cooper quot addresse subsequ answer request inform view connect major part request inform address oblig repli submit relev document answer relev question voluntarili part abovement quot cooper quot commiss reject interpret law incorrect largest bank concern transmit commiss document quot joint exposit fact quot set length histor background cartel summaris briefli assess point view content individu committe meet appar document seiz transmiss request time submit document seiz commiss transmiss request pursuant articl regul order assess ad document submit exposit fact repres ongo investig commiss ask bank document commiss bank consid feasibl septemb commiss transmit bank concern statement object septemb access grant file bank made written submiss hear held januari novemb commiss transmit bank concern supplementari statement object novemb februari bank concern transmit commiss document quot supplementari exposit fact quot number document set point view fact portrai supplementari statement object access grant file bank made written submiss hear held februari background creation function object quot lombard quot network give chronolog account cartel meet year section histor background organis function object lombard network briefli commiss knowledg directli base document date relev period record meet intern memo correspond seiz unannounc inspect submit respons request inform background austrian bank act provid possibl specialist bank associ bank conclud agreement interest rate save deposit termin month notic base rate agreement freeli agre period notic credit interest agreement advertis competit agreement gener poor profit austrian bank earli elicit reaction legisl form amend bank act bank form establish target rate cartel lend deposit rate regul agreement committe lend rate committe deposit rate committe minilombard committe time summer regul agreement annul credit institut found difficult set rate meaningfulli recours bind agreement continu conclud agreement lend deposit rate network relev agreement antitrust point view time februari associ austrian chamber labour lodg applic restrict practic court requir total bank notifi cartel introduct rais current account charg associ opinion uniform introduct rais charg januari attribut cartel agreement court found associ bank concern lodg appeal decis higher restrict practic court agreement joint action coordin action respect introduct rais charg conduct serv quot restrict competit custom interest hold open current account quot view austria impend access european econom area eea increas attent paid european antitrust law septemb instanc articl entitl quot bankenkartel im ewr quot lead bank period explain effect austrian access european econom area detail descript relev case law european court justic decis make practic commiss author conclud quot austrian bank industri advis compat eea agreement decis circular recommend agreement amend advanc access eea dispens altogeth quot appear omnibu volum banken im binnenmarkt edit lead academ articl deal depth subject quot eec antitrust law bank quot point inter state claus quot interpret broadli quot commun institut appli quot event quot cartel quot cover territori member state quot author conclus agreement rate forc expiri regul agreement inadmiss antitrust law european econom area commun exempt agreement commiss quot altogeth unrealist quot septemb media learn strategi paper uniform calcul base minimum interest rate drawn jointli ba ca erst rzb övag psk bawag recit repres vienna chamber labour publicli accus bank conclud cartel agreement bank deni alleg state board resolut effect letter ca date march bank für tirol und vorarlberg express view quot unexpect public paper caption concert practic thought specif form action quot manifest incompat agreement commun antitrust law articl public subject mention recit bank unimpress immin applic commun competit rule competit agreement restrict advertis interest rate abovement articl quot doubtless subject entireti eec cartel ban quot propos decemb agreement maintain januari convers end decemb repres ba ca rzb transpir ca rzb psk wish maintain agreement bawag ba repres wrote record meet quot talk held bawag repres quot fact avoid advertis interest rate regular featur agreement subsequ conclud austrian bank austria acced european econom area januari bank act enter forc dai remov remain statutori base coordin credit institut januari austria member european union bank termin agreement fact manifestli infring eea ec antitrust law continu numer exist round talk januari lombard network remain exist serv unlimit extent vehicl arrang agreement particip bank view cartel agreement quot part quot bank intend chang simpli applic european antitrust law austrian public suspici connect rate charg accus quot cartel price polici quot quot manifest agreement quot repeatedli made public question rais exist quot interest rate agreement quot numer document show fact bank awar relev agreement antitrust point view committe meet octob increas transfer charg quot refer made antitrust aspect busi custom quot state quot eu fundament austrian legal interpret issu prevail legal depart institut eu issu quot talk novemb charg cross border payment transact state quot question bank set interbank rate infring restrict practic act answer immedi quot talk march state connect conduct round talk quot consequ eu antitrust law examin due quot talk subject price coordin bank report intern girocredit document discuss examin question quot regular discuss cross border transact committe interbank price coordin austrian bank question antitrust point view quot report conclud quot restrict competit eu law agre interbank price quot quot result initi investig proceed european commiss imposit heavi fine quot quot bank manag board member wish remain anonym quot confirm statement austria press agentur quot desir bank circl definit agreement quot admit interest rate agreement common recit longer quot reason antitrust law quot board member question omit mention inadmiss agreement remain fulli forc talk octob particip conclus variat theme concern quot provid solut antitrust problem quot awar antitrust problem agreement gave rise final induc institut involv concern take practic precautionari measur talk novemb particip suggest precaut futur quot minut meet quot legal depart institut consult matter earth recommend lawyer consult clearer quot destruct exist record quot propos camouflag agreement quot renam market observ quot intern memoranda subject return author quot subsequ destruct quot record minut mark quot strictli confidenti quot talk particip mention attent drawn institut legal depart quot problem minut light competit reserv quot quot minut talk quot radio interview februari repres bank concern admit austrian bank quot put end quot agreement quot pai price quot individu committe relationship role lead institut agreement comprehens content highli institutionalis close interconnect cover entir countri quot smallest villag quot institut aptli put bank product separ committe compet employe level manag sat practic separ content strictli adher substant relat topic cover committe dealt committe individu committe part organis lombard club specialist committe special committe region committe month holidai month august senior repres largest austrian bank top level bodi lombard club addit matter gener interest neutral competit point view presenc repres austrian nation bank oenb discuss interest rate advertis measur level product base specialist committe import quot lend rate committe quot quot deposit rate committe quot name suggest dealt lend deposit interest rate conven separ jointli lend deposit rate committe constant flow inform place committe lombard club top repres bank transmit conclus reach lombard club repres bank deposit rate committe part quot account mondai feder lend deposit rate committe quot lombard club vienna lend deposit rate committe signal divers numer quot region committe quot held regular meet provinc austria provinc hierarch structur quot lombard quot specialist committe replic view express provinc flow opposit direct back meet quot feder lend deposit rate committe quot bank repres vienna met opposit number provinc decis principl valid austria inter alia corpor bank retail bank busi involv emploi mortgag lend build loan separ special committe minilombard committe kei account manag committe liber profess lend rate committe mortgag committe build loan deposit rate committe lastli place regular interv larg number committe meet matter relev competit point view quot treasur committe quot feder financ interest rate question discuss payment transact committe payment transact committe cross border transact committe organis committe austrian credit institut associ fee charg payment transact matter discuss quot export financ committe quot matter export financ discuss matter quot secur committe quot minimum fee charg interest rate discuss special committe stand quot control committe quot repres control depart lead austrian bank sat meet committe instanc uniform calcul base joint propos improv earn drawn bank increas mutual transpar respect cost calcul factor committe concern primarili lend deposit rate charg fee regular flow inform place discuss committe held pend agreement lastli higher rank natur lombard club meant controversi case guidanc await case import decis confirm quot lombard quot quot consid unnecessari quot view extens countrywid implement purpos coordin agreement conclud abovement vienna committe meet regular flow inform region committe provinc central committe vienna occasion region committe repres feder lend deposit rate committe meet employe carinthian bank attend feder committe meet regularli quot repres carinthia quot view report back quot carinthian bank committe quot result achiev committe transmit institut manag board translat action immedi fed decis make process import institut concern close network regular comprehens coordin measur agreement quantit term period cover investig januari end june vienna exclud numer region committe meet meet place term work dai mean vienna meet place dai lastli institutionalis network numer contact place repres bank concern highest level interest rate charg fee bank anxiou avoid competit competitor close relat industri agreement reach bank build loan rate quot thwart cheaper offer insur compani quot agre quot talk subject held insur compani quot role lead institut save bank agricultur credit cooper credit union group intra inter group coordin point special part plai network lead institut erst girocredit rzb övag examin histor practis role coordin repres respect bank group austrian bank market directli utilis smooth function lombard network firstli organis mutual transfer inform vienna provinc respect bank group repres interest group vi vi group cartel ensur systemat seamless feedback inform vienna region committe coordin commun channel plai import role case larg bank countrywid presenc inform channel ran head offic vienna provinci head offic case multi tier bank group recours special creat intern inform represent mechan capac lead institut girocredit erst care flow inform institut save bank group provinc agricultur credit cooper credit union group task fell rzb övag capac lead institut detail illustr exampl ingeni represent inform mechan found section time lead institut repres interest cartel meet respect group cartel member perceiv lead institut connect repres respect group agreement reach individu institut group exampl bawag instanc announc decis prospect cut interest rate quot fax sector lead quot quot opinion format quot place quot individu sector quot quot negoti quot place group agre measur implement place quot consult telephon sector quot consum lend rate committe meet quot request quot made address girocredit rbw övag quot sector provinci talk quot occas quot agricultur credit cooper sector request rein offer small cooper quot övag inform cartel member quot cu sector ksb capit save account lower quot quot credit union sector favour cut quot quot girocredit save bank quot inform cartel member quot cut bonu carri deposit coordin provinci save bank quot earli establish satisfact cartel member quot cut agre quot end quot meantim implement sector quot pattern committe meet cartel member constantli strove meet committe dealt explicitli interest rate reach consensu set rate detail section meet similar pattern occas meet chang kei lend rate nation bank bank promptli meet quot joint clarif measur quot case bank react lower kei lend rate immedi reduc deposit rate time reduc lend rate claim quot background chang interest rate quot quot earn profit asymmetr interest rate adjust quot quot asymmetr quot pass kei lend rate reduct result substanti interest earn bank expens consum call success prior coordin bank coordin delai lend rate cut quot declar aim committe meet subject quot repres quot host quot institut start proceed quot contribut current interest rate develop quot particip reaction rate reduct increas institut consid time quot subject coordin institut quot meet began debrief earlier joint action opinion propos reduct interest rate product quot exchang agreement quot product put forward time quot support present quot quot flatli reject present quot negoti began joint manner proceed occasion individu bank quot fulli coordin quot posit advanc cartel meet case quot talk quot prior deposit rate committe meet juli final propos quot put vote quot agreement reach quot compromis quot negoti regularli produc concret result bank state minut memoranda quot tough negoti result achiev quot quot agreement reach gener cut rate quot maximum interest rate quot agre quot rate rise commerci loan quot agre big vienna bank quot quot austria interest rate agre quot specif minimum rate quot fix endors quot quot coordin quot quot guidelin quot quot consensu quot reach reduct rate fairli lengthi discuss quot gener interest rate cut final impos quot quot unanim quot interest rate cut quot agreement quot reach cut deposit rate introduct quot minimum handl fee quot decid quot stop advertis interest rate quot quot interest rate cut decid quot deposit side quot agreement made quot foreign currenc loan particip quot put agre recommend practic respect area quot bank succe reach consensu immedi common decis make process purpos quot preliminari decis make quot quot reach agreement quot quot refin quot quot pre coordin quot quot final coordin quot committe meet involv vienna lend deposit rate committe minilombard committe feder lend deposit rate committe lombard club close intens coordin network prove insuffici interest rate quot final negoti quot compet committe part quot discuss agreement quot quot telephon convers quot quot telephon contact institut quot quot senior staff phone discuss coordin approach quot agreement reach bank product concern quot implement date quot quot deadlin implement interest rate cut quot quot agre quot implement place quot telephon consult sector quot provis inform public measur agre subject quot coordin approach quot part bank bank unabl reach agreement end record quot agreement rate reach lombard meet quot respect capit save account quot initi unanim agreement quot reach bank end unabl quot unanim decis quot quot negoti quot meet joint attempt make reduct cash advanc quot time fail quot quot achiev ambiti goal set lend rate talk quot institut time time chang interest rate prior coordin caus quot turmoil quot relev committe subject sharp critic competitor quot complet surpris quot measur quot secret quot quot regard bank quot quot contradict state object relev committe meet quot institut thought carri quot surpris interest rate quot quot inform provid member lend rate committe quot case institut agre common reaction step quot break rank quot anger occasion quot break rank quot bawag great instanc bank threaten exclus cartel object object agreement issu restrict distort competit undertak concern relat matter dealt committe agreement concert measur intend expens consum improv bank earn departur cartel agreement bank view safeguard quot reason competit quot hand lead quot eros margin quot bank repeatedli express aim word exampl strategi paper refer drawn jointli ba ca erst rzb övag psk bawag suggest quot displac limit quot competit quot bearabl level quot quot mistak quot quot jointli avoid quot futur bank identifi quot price competit quot quot immedi engag competitor quot measur quot jointli quot includ introduct quot charg commiss quot handl transact custodi charg feder deposit rate committe meet februari declar open word quot exchang bank experi relat interest rate past repeatedli prove mean avoid uncontrol price competit todai feder deposit rate committe meet likewis ensur purpos reason manner proceed shape bank term busi interest rate set show sit counteract problemat price develop hope succe todai stop upward trend interest rate hope interest institut construct solut found quot view quot eas exist cut throat competit quot quot disciplin market behaviour quot quot full complianc quot quot coordin minimum interest rate quot restrain quot exagger competit quot express quot object quot feder lend rate deposit rate committe thing quot establish coordin approach lend deposit sphere quot quot find uniform approach reduc lend rate quot bank econom interest agreement set memorandum special consum lend rate committe meet april quot minimum rate enforc de facto tantamount rate increas widen margin quot benefit deriv bank detriment consum provid quot asymmetr quot pass kei lend rate reduct form cut deposit rate simultan cut lend rate bank awar quot background chang interest rate quot quot earn profit asymmetr interest rate adjust quot coordin delai reduc lend rate result substanti interest earn bank quot state object relev committe meet quot renunci advertis lend deposit rate agre bank aim quot counteract heat competit situat quot quot avoid quot competit bank quot inform level quot file note date march committe serv quot advis measur stem competit field privat financ highli undisciplin bank repres return orderli competit quot file note vienna lend rate committe meet state quot vienna special lend rate committe meet place view set minimum limit lend rate case person loan minimum margin fix interest loan foreign currenc loan order optimis incom quot note meet state quot dramat declin lend margin induc repres vienna institut hold countless coordin meet aim come grip recent hyperact dump price quot competit restrict purpos committe disput bank sum clear evid bank concern strove bring quot quot quot construct quot agreement quot control quot quot reason quot quot standardis quot quot disciplin quot quot eas quot quot quot quot displac quot quot limit quot quot moder quot quot orderli quot euphem distort restrict competit chronolog event introduct section describ institutionalis interconnect network numer wide rang committe led situat institut concern regularli continu jointli coordin behaviour market descript take form chronolog event start januari point austria acced european econom area focus committe broadest scope close interlink oper term quot lombard club quot quot minilombard committe quot quot feder lend deposit rate committe quot quot vienna lend deposit rate committe quot includ quot consum lend rate committe quot quot liber profess lend rate committe quot committe dealt alongsid relev point mention separ section chronolog event reason space confin decis mention describ committe network meet chronolog event februari march quot asymmetr quot pass cut kei lend rate agreement cut deposit rate maintain lend rate avoid competit respect build loan austrian nation bank cut discount rate februari vienna deposit rate committe meet held februari ba premis quot joint clarif measur respect save current account deposit quot meet quot agreement reach gener cut rate quot base rate cut bawag premium aid save product capit save account substitut product special rate vienna provinc current account interest rate debit credit side decid start implement cut week begin march cut interest rate coordin manner bank posit reap substanti addit profit march senior repres erst decid expressli refer step bank competitor cut overdraft credit rate agre senior repres bawag refer reduct decis quot round interest cut quot ca cut rate agre period intern memo senior repres nö hypo entitl quot cut save deposit rate march quot telephon survei bank involv shown quot competitor stick essenti small variat target set deposit rate committe quot vienna deposit rate committe meet repres bank met februari minilombard committe agre cut lend rate quot put limit year year fix interest rate increasingli demand custom quot intern report februari senior repres ca state quot main vienna bank agre emerg pai cash market rate option contract maintain minimum margin introduc quot monthli lombard club talk march assembl repres agre quot repres build loan bank quot quot discuss principl ration lend rate polici quot bank set ba bawag ca erst specif purpos grant build loan specialist bank set partial exempt capit gain tax secur debentur issu refin commerci build loan committe cover field set spirit exist committe cover area bank order quot avoid destruct competit build loan bank quot meet quot build loan group quot refer build loan deposit rate committe appear place februari april june discuss cut interest rate quot diverg quot save deposit rate fix interest rate quot joint decis action quot improv earn april austrian nation bank cut kei lend rate quot individu telephon convers quot immedi nö hypo psk erst quot inform consult quot ca ba erst bawag rbw quot unanim found quot cut save deposit rate follow kei rate cut quot telephon sector agre measur cut rate save current account deposit quot bank austria vienna deposit rate committe meet april quot discuss cut quot lengthi discuss quot agre quot quot steadi quot rate quot recent hand quot quot kind moratorium quot save deposit pai interest vienna area provinc complianc agreement monitor quot closer observ competitor quot matter discuss deposit rate committe episod illustr bank deliber act detriment consum bank concern avoid quot widespread quot cut save rate quot exce cut post counter quot lower lend rate pass cut kei lend rate consum save rate cut quot public quot quot bonu carri quot save deposit quot requir post quot order consum dark bank repres agre quot approach talk press quot gener save interest rate cut quot imposs quot attent drawn quot unchang post rate quot end quot coordin approach quot failur quot appar unfortun statement subject quot issu institut undermin joint pr effort gener cut subsequ report tv maximum rate save deposit discuss april recit confirm quot recommend unanim adopt quot interest rate save bond quot made diverg quot interest rate year save account reduc rate year account rais quot agre measur implement week whitsun latest quot psk thing turn differ public critic prematur announc recit cut save rate quot implement recommend deposit rate committe meet extent plan quot minilombard committe corpor bank met directli deposit rate committe meet talk lower lend rate respons cut kei interest rate quot absolut minimum rate quot oper loan set deposit rate consum lend rate committe meet held jointli liber profess lend rate committe meet june illustr inform exchang vienna committe provinc lend deposit rate meet repres rzb obtain data current interest rate situat region offic case plan quot diverg quot save bond rate mind logist exchang inform agricultur credit cooper group letter carinthia raiffeisenlandesbank vienna head offic rzb quot rzb inform progress conclus bank committe vienna deposit rate committe lombard meet pass inform quickli agricultur credit cooper carinthia ensur manag inform carinthia repres directli agricultur credit cooper depart institut inform post fax quot abovement quot diverg quot main subject discuss deposit consum lend rate committe meet advoc ba rais rate year save account quot flatli reject present quot afraid time rais save rate bonu carri deposit quot nullifi recent implement interest rate cut quot end propos quot diverg quot quot put vote quot ba girocredit vote favour psk bawag rzb nö hypo erst ca follow lead bawag problem bank discuss meet growth demand consum fix interest loan set fix interest rate entir durat loan bind bank rate longer respond refinanc rate need arrang deal grow demand form lend unfavour bank point view quot bank repres agre fix interest rate longer quot quot rate mortgag loan ca ba bawag accord quot opinion committe quot rais rate juli increas quot agre principl quot implement quot view sceptic quot discuss final brought close refer quot stick agre maximum rate fresh fund quot minilombard committe met dai found fix advanc quot minimum rate agre time previous quot vibor favour interest rate occasion offer vienna institut urg ensur previou occas quot repres decid lombard meet quot quot toler quot undercut agre minimum interest rate quot longer quot handwritten comment quot earli quot memo suggest consid prematur repres deal matter time fact repres unabl reach agreement meet recit item discuss maximum fix interest period year event earli repay suitabl penalti payabl hous bank margin detail section consid joint action counteract quot frequent attempt export quot quot bring margin quot final quot agre make discreet cut prime rate juli quot phase institut stuck close agreement made respect product case save deposit employe group rate quot major bank stick agre interest rate quot bawag quot disciplin cooper quot area quot lack disciplin set term quot observ quot form time regul measur ceas appli quot quot joint decis action improv margin quot gener assess quot moment bind agreement poor half yearli result present quot quot disciplin eman lombard club expect quot meet lombard club place juli subject discuss repres occas identifi intern memo written ca repres state quot refer bawag psk implement propos deposit rate committe diverg recit pend meet bawag repres institut action appar ba repres speak quot discuss build advanc loan ca quot cooper bank austria erst opposit find deposit rate committe quot recit propos increas lastli discuss employe group rate person loan quot big bank stuck agre interest rate quot low rate agre interest rate contempl quot agreement rate reach lombard meet quot juli septemb joint reduct deposit rate joint retent lend rate joint preview charg increas juli repres ba ca met talk lend deposit rate intern memo date juli address ba repres prepar meet stress quot price war lend deposit rate quot quot stop immedi quot larg scale financ carri quot destruct competit competitor quot implement quot syndic lead major bank quot higher interest rate deposit rate cut recit ca repres likewis brief subordin meet juli meet place control level repres market retail bank bank part meet quot genuin feasibl action discuss quot quot rapid cut quot deposit rate consid quot urgent requir quot suggest repres respons deposit rate preferenti rate cut august interest paid coupl cut interest rate year save account critic express fact compani top quot quot bank quot outbid quot order prevent form competit futur suggest draw list compani deal accord quot code conduct quot joint action syndic financ lastli quot feder deposit rate committe ask turn attent comprehens implement process begin august quot quot talk interest rate adjust quot feder deposit rate committe place take express account quot talk held senior manag level juli quot juli ba present view develop quot full cooper creditanstalt quot recit rate cut basi quot recommend formul quot cut preferenti rate discuss short previous control committe quot meet spoken quot favour option quot diverg quot save bond rate cut year save bond simultan increas year bond cut employe save rate maximum rate medium term note recommend control level measur implement quickli august feasibl agre mutual check undertaken august quot ensur smooth implement quot lend rate discuss found provinci capit quot recommend rate larg quot rural area lower rate frequent offer practic quot stop come week quot quot prioriti goal quot rais build loan rate august discuss erst girocredit rbw quot agre propos quot quot step quot bawag prepar rais rate ca ca wait bawag greater coordin minut put quot repres senior manag level talk quot dai juli high level telephon call place ba ca bawag erst girocredit subject concert cut deposit rate intern memo ba repres lend deposit rate committe summaris telephon convers quot think bring round idea save rate cut discuss feder deposit rate committe meet juli recit psk lower rate bawag cut rate come weekend quot writer memo recommend ba quot stick schedul gc girocredit eö erst pretti reliabl partner quot august apa report quot austrian interest rate scene chang quot big bank cut deposit rate year save account preferenti rate deposit august bank plan middl august ba bawag implement agre quot diverg quot capit save erst due follow suit august ca final decid rais build loan rate discuss erst rais rate build loan june explicitli state reason quot main competitor quot quot rais rate quot septemb time bank jointli discuss rais number charg year payment transact committe meet septemb particip inform extent time plan increas charg maintain account account entri chequ transact payment card joint quot review cut deposit rate quot carri juli meet control committe held septemb repres met minilombard committe septemb note fix advanc maximum durat agre june recit year adher quot institut quot thought rais lend rate deposit rate rais conclus reach unanim particip vienna lend deposit rate committe meet dai made quot market remain calm quot count quot success quot agre preferenti rate quot quot big institut test deposit competitor prove secondari market yield exceed mid novemb latest lend deposit rate committe meet held octob decemb concert rise lend rate avoid compet advertis interest rate confirm minimum charg secur meet control level octob quot urgent action lend side quot identifi bank quot aim interest rate rise person corpor loan quot end ba call meet minilombard committe repres control level part quot top quot custom greater coordin area syndic financ call rate improv recit quot rate tabl quot standard product drawn continu updat control level dissemin industri mean quot decentralis inform initi snowbal system quot lend rate rise call control level discuss detail bank repres respect retail corpor bank novemb vienna lend deposit rate committe met criticis fact individu institut stick agreement made vienna bank quot keep agre rate quot fix interest save deposit depth discuss decid chang deposit side declar intent lend side bawag repres quot announc rise interest rate build loan quot quot decis influenc outcom lombard meet quot bawag implement rise ba announc directli prepar rais interest rate build loan particip contempl rais rate agre question press associ consum inform rate comparison purpos futur stick commun offici rate post counter answer question case bank post higher rate quot forc price quot lastli bank futur avoid altogeth advertis lend deposit interest rate end övag propos conclud quot gentlemen agreement quot lombard club propos receiv quot broad support quot particip purpos measur quot counteract heat competit situat quot minilombard committe member met novemb agreement propos control committe quot unanim opinion gener interest rate increas quot implement quot quot decemb fix advanc minimum margin vibor quot consid quot increas quot push quot decemb senior manag quot coordin matter telephon quot quot document committe quot meet novemb documentari credit fee discuss point quot agreement reach year ago charg rate cover cost quot bank meantim offer favour rate call quot price disciplin quot met quot gener agreement quot quot special committe meet quot call draw quot lower limit quot rate subject discuss secur committe meet novemb quot minimum fee quot handl share bond quot secur techniqu quot work group novemb quot fee minimum charg bui sell custodian fee secur custodian fee issu quot quot plan time schedul quot implement subject joint discuss ba initi impress want move agre minimum fee meet novemb turn quot misunderstand quot ba gave quot full back minimum fee quot quot account placement public quot ba appli agre minimum fee repres girocredit present market survei carri institut reveal psk rbw domest foreign bond rzb domest bond quot undercut quot minimum fee novemb repres ca respons financ time report colleagu discuss member manag board ba rzb girocredit rais lend rate quot unanim quot ca concern senior repres quot give definit inform proce talk senior repres ba quot quot practic arrang quot rate rise commerci loan agre principl minilombard committe decemb quot agre big vienna bank quot rate rise commerci loan januari minimum interest rate oper fund loan invest loan bawag commit subject discuss lombard club meet decemb subject discuss lombard club meet decemb identifi intern memo repres ca prepar meet author refer quot agre quot rate rais question quot discuss local interest rate committe quot deposit substitut ba quot lower quot rate quot agre level quot bawag threaten issu higher interest ca medium term fix rate note adjust rate bawag respond quot promis adjust quot ca repres urg quot speak quot bawag repres quot lower save deposit substitut agre level quot final repres agre minilombard committe discuss adjust debit rate commerci loan cash advanc dai lombard club meet control committe meet place rate rise commerci loan decid minilombard committe report note particip treasur committe kei account manag committe stick quot principl quot agre control level repres control level part treasur committe meet futur chronolog event januari februari joint increas lend rate avoid increas deposit rate januari erst made offer potenti custom subsequ quot ca order obtain similarli favour offer relev ca employe note write erst offer quot special deposit rate quot quot agreement erst ba ca quot pai special deposit dispo deposit erst employe agre reduc quot special deposit rate quot term quot formal quot agreement began vienna lend deposit rate committe meet held januari special variabl interest rate concern maximum interest rate at million fund quot agre quot quot stoke competit quot refer made lack disciplin implement agreement refer likewis made quot decis quot vienna lend deposit rate committe novemb recit respons enquiri media consum repres offici post rate lower special rate made public ensur competit bank quot avoid inform level quot lend rate concern major particip favour increas bawag problem build loan consum instal loan prepar increas end quarter quot final decis quot increas quot lombard club meet januari uniform increas introduc respect exist posit increas appli begin februari quot send report committe meet senior repres ca particip ad handwritten note quot import item agenda lombard quot treasur committe conven quot order year product start quot meet includ discuss quot short term lend deposit rate quot particip direct influenc shape rate fix advanc quot person respons kei account manag quot relev member kei account manag committe view quot increas person loan dealt lombard quot ca januari fax mark quot urgent confidenti quot oberbank salzburg btv tyrol bk carinthia quot coordin local interest rate committe quot lombard club meet januari agre interest rate increas propos repres vienna lend deposit rate committe erst repres report intern memo meet quot commerci loan rais person loan quot erst introduc agre increas commerci loan februari introduc increas person loan bawag quot prepar discuss quot februari begin februari bawag decid increas interest rate ba erst rbw psk bank quot introduc increas loan quot januari member secur committe decid set quot work parti ba eö rzb bawag giro psk quot invit ca provid advic fee charg ad hoc busi apprais carri bank control committe meet februari bank report agre interest rate increas commerci person loan deposit rate quot current specimen calcul quot discuss satisfact express fact vienna agre term save deposit quot hold quot quot lack price disciplin quot vienna special rate criticis ba suggest problem solv partit individu region market quot tyrol carinthia individu market transfer price polici austria quot estim made control level interest rate curv favour quot action order avoid deposit rate increas quot quot decis quot quot prevent deposit interest rate increas quot person loan increas quot push quot bank quot exchang fax quot quot discuss date control committe meet quot propos deposit rate lastli erst request quot exchang experi quot cost control invest budget quot ba psk carri exchang experi quot quot interest rate develop deposit rate quot discuss lombard club meet held februari februari repres respons corpor custom ba ca erst girocredit rzb held quot inform discuss quot quot direct object quot fix date advanc decid set lower limit vibor particip want quot win quot project forthcom minilombard meet februari recit subsequ make result achiev quot safeguard hold committe meet provinc quot minimum rate establish secur quot maintain month quot problem individu case quot increas coordin quot dai evid meet build loan committe place commiss minut memo relat februari bank repres met vienna lend deposit rate committe quot pre coordin forthcom feder deposit rate committe meet quot recit reach quot agreement bonu carri save deposit quot quot austria quot interest rate newli acquir custom compet offer fend quot agre quot bawag inform competitor rais save account rate time person loan increas bawag evid decis prior agreement competitor piec inform quot complet surpris quot particip meet ca made slip februari propos discuss occas competitor advertis longer make refer interest rate ca advertis depart act object person loan depart advertis build loan interest rate estim person loan depart undesir consequ lead quot round interest rate competit quot bank loss quot credibl quot part ca competitor ca advoc polici advertis thing bad advertis criticis confin carinthia quot princip market vienna quot agre quot interest rate longer advertis newspap quot februari march negoti increas deposit rate agreement fix advanc eros confid assur bawag abovement meet feder lend deposit rate committe held februari time elaps previou meet feder lend deposit rate committe juli recit rzb act host made introductori remark state quot interbank exchang experi rate quot prove quot instrument prevent uncontrol price competit quot bank improv earn coordin increas lend rate quot implement austria quot recit quot quot deposit rate concern quot counter problemat price trend quot quot stop upward trend interest rate quot bank repres set find quot construct solut quot quot good institut quot issu quot complet surpris quot unusu agre competitor increas rate save account carri bawag recit ca erst quot fulli match quot increas ba bank quot retreat posit quot quot fail quot persuad ba inform particip match bawag interest rate increas bank decid credit union psk support ba posit nö hypo adopt quot wait posit quot quot detail discuss quot particip final quot agre quot increas ba quot decid afternoon quot addit special rate save account vienna area quot maximum interest rate quot capit quot laid quot cash bond quot particip discuss agre quot present introduc rate increas quot posit quot ultim reach quot agreement quot custom opt save account segment quot prevent quot interest rate increas bonu carri area dai februari minilombard meet place decid quot inform discuss quot februari recit particip quot agre quot quot appli rigor quot case fix advanc minimum premium minimum period month minimum volum at million transact start march initi limit week extend quot disciplin quot quot local area applic quot quot agreement quot mean quot region agreement quot quot extend eastern provinc quot branch provinc quot reach agreement region committe meet quot meet place control level march order deal quot situat lend deposit rate quot reach agreement quot countermeasur quot vienna lend rate committe meet march confin occas detail exchang inform current interest rate situat bank thought chang interest rate quot opportun quot futur consid quot establish erod confid statement bawag repres quot bawag made interest rate prior agreement competitor recit quot regard bank quot quot surpris interest rate quot made futur quot inform provid member lend rate committe quot march repres erst ba met quot inform lunch quot quot prepar quot meet relev erst senior staff ask state issu respect busi area discuss meet erst repres quot aggress rate polici quot quot alloc quota issu quot april june joint reduct deposit rate avoid reduct lend rate march austrian nation bank cut kei lend rate discount rate lombard rate effect march respons major austrian bank independ decis conven vienna deposit rate committe meet march coordin meet feder lend deposit rate committe held april recit joint reaction cut kei lend rate quot essenti agre quot particip quot unanim opinion quot cut kei lend rate quot chanc quot year lower interest save deposit approach agre cut special rate employe save product cut capit save account cut premium save product psk reproach month save account accord agreement justifi argu quot product conceiv special scheme discontinu quot step laid quot preliminari decis make process aim achiev reduct quot view particip quot involv control level quot discuss individu bank quot telephon consult manag board level quot end calendar week quot transfer inform respons quot reduct introduc holi week quot purpos reach agreement quot step bank meet feder lend deposit rate committe conven april recit quot confirm quot event problem quot final coordin quot provid lombard club meet april bank repres quot unanim agreement quot minilombard meet april cut kei lend rate interest rate loan reduc quot forthcom reduct deposit rate quot decis meet feder lend deposit rate committe held april recit quot reflect lend rate quot case individu type financ current account invest loan bill discount fix advanc fix interest loan credit bank guarante hous bank margin export financ specif minimum rate quot fix endors guidelin quot meet feder lend deposit rate committe held april quot consensu quot reach reduct special rate reduct bawag addit quot order steadi market quot quot maximum rate quot agre respect special rate busi at at million at million maximum rate exceed branch manag actual date reduct quot vari concentr week quot bawag report want introduc reduct lombard club met april capit save account contrast quot initi unanim agreement quot reach bawag held quot prospect quot interest rate reduct announc final decis april quot fax sector lead quot lend rate remain unchang control committe meet april agreement lend rate remain unchang decid pursu joint extrapol earn purpos individu bank extrapol combin meet expert work quot uniform approach quot calcul remain matur group expert examin secur account statist market share intern calcul method respect special rate save account erst draw discuss paper quot common solut quot found uniform classif largest corpor custom secur committe meet held dai april subject discuss quot arrang fee quot charg stock exchang particip oekb capac clear settlement hous transact vienna stock exchang includ arrang oekb repres quot call accept propos arrang fee adjust result introduct fulli automat trade system eqo quot meet reach quot agreement repres ca rzb ba gc erst adjust arrang fee quot addit quot annual flat fee agre repres ca ba gc erst rzb övag quot commiss minut build loan committe meet held agenda drawn includ refer quot current develop quot quot common measur quot monthli lombard club meet repres discuss point view unsatisfactori trend interest margin agre quot deposit rate present high bank austria gener high quot reason quot ba repres propos deposit rate committe meet cap maximum interest rate quot propos quot support present quot commerci loan propos uniform risk premium establish purpos quot control committe make suggest quot feder deposit rate committe meet lombard club thought view bring coordin interest rate reduct place present share opinion lombard club quot gener interest rate reduct deposit avoid quot ba began propos special interest rate reduc immedi quot gener agreement quot matter similarli suggest reduct special interest rate reduct interest rate capit save account quot accept quot final quot compromis quot agre june deposit rate reduc time quot maximum rate quot special interest rate quot quot quot rate quot longer acquisit purpos back measur decid area lend activ quot advertis measur base low interest rate reduct fee charg quot undertaken ensur decis implement provinc agre decis quot pass provinci committe acknowledg quot lastli measur decid quot coordin laid quot quot lombard meet quot june time concern ba quot give lead quot make cut end bank agre quot complet measur quot june ca follow ba time intern ca memo subject includ handwritten remark clarifi quot ca repres agre reduct ba repres quot bawag broke rank wish introduc cut earlier end june quot clarifi senior manag level quot quot ensur prompter implement take account bawag quot lend rate concern quot minimum consensu quot cut implement dai feder deposit rate committe meet vienna deposit rate committe meet quot call short notic quot order quot bring forward quot quot origin envisag date save interest rate reduct quot quot agreement reach feder deposit rate committe meet quot recit extent reduct quot plan quot quot firmli promis institut quot amount result save account interest rate scale year year year year year quot interest rate cut agre committe meet quot quot implement date agre quot ba ca övag exist custom june girocredit nö hypo june erst june latest övag post rate june bawag psk week june dai top level repres ba bawag girocredit rzb psk met quot smaller group minilombard committe quot inform quot exchang bank experi quot discuss quot current situat quot quot plan cut quot deposit rate quot consider time quot increas margin made quot improv profit quot account pass consum reduct lend rate import quot increas margin fix advanc quot quot improv million schill profit quot bank quot greater import quot avoid cut lend rate dissatisfact disciplin implement decis jointli quot interest rate disciplin quot quot theme lombard club meet june quot gener agre disciplin expect quot complianc minimum margin point honour manag board member quot intern ca quot confidenti memo quot refer issu quot matter boss quot lastli quot item discuss decid lombard meet quot lend rate cut overdraft loan interest rate base vibor dai dai monei rate maximum year term fix interest loan maximum year term loan ti secondari market yield roll loan short term indic minimum margin fix advanc lower limit hous bank margin export promot loan intern memo senior repres ca state current account interest rate vibor dai dai monei quot prevent quot quot contact purpos quot bank quot place minilombard treasur committe quot quot agreement quot quot prioriti topic quot lombard club meet june june ba ca reduc interest rate save deposit agre averag erst suit june june meet control committe place agenda item quot interest rate develop interest rate polici quot particip bank began bring date quot implement plan cut save deposit rate averag quot report custom quot approach bank quot request roll financ dai dai monei month basi desir part custom compli quot danger eros margin current account busi quot fear rzb quot declar readi quot draw propos calcul long term loan vibor basi meet girocredit present intern estim oper result includ detail breakdown current year plan discuss topic place lombard club meet june ba ca repres attend appar defer lombard club meet held juli june break rank bawag gener scold coordin reaction event unusu turn june quot prior notic quot bawag cut interest rate person loan measur quot secret quot competitor prompt ca quot conven consum lend rate committe meet short notic quot order ensur quot coordin quot reaction measur competitor meet place ca premis june joint session liber profess lend rate committe feel ran high meet bawag quot compli date prescrib quot deposit rate committe meet addit provid inform competitor measur fierc attack bank ba ca erst quot unanim opinion quot quot justif quot measur bawag quot contradict state object relev committe meet quot quot quot cut interest rate loan quot senseless competit quot downright danger bawag repres attempt justifi refer quot underbid allegedli routin practis bank case work council member loan quot argument turn trigger seri mutual accus counter accus bawag justif reject particip quot undercut agre rate quot quot purpos quot quot deal committe meet quot subsequ quot make adjust quot quot break rank quot quot complic quot difficult profit situat ca threaten bawag exclud lend deposit rate committe meet present ask quot request step senior manag level ensur quot interest rate quot laid basi widest coordin industri quot practic outcom meet ba ca erst rbw quot event follow suit quot work council member loan doubt reduc product result preced set bawag quot agre quot exce mark case loan emploi minilombard meet dai feel evid bank repres quot unanim quot conclud quot gener cut interest rate commerci sphere quot wake interest rate cut introduc bawag consum lend sphere present quot decid quot submit respect repres quot lombard meet quot quot recommend lai minimum interest rate quot agre quot inform meet quot recit vienna deposit rate committe meet held june ba suggest quot summer break cut bonu carri save deposit quot exist deposit variant put forward busi quot remain repres larg viennes bank quot quot prefer quot moder variant provinc quot similar approach urg local committe meet quot quot agreement arrang lombard club meet juli quot juli agreement senior manag level interest rate quot recommend quot critic ca juli ba ca rzb erst repres respons lend held meet quot confirm propos minilombard meet recit event compli relev minimum margin quot case option contract endeavour quot impos minimum margin quot bank interest rate polici area present quot senseless quot subject discuss lombard meet lombard club meet juli ca repres receiv quot list desiderata quot memo staff set topic quot brought discuss quot lombard club meet case municip fund minimum mark charg custom grant unilater termin build loan indic link term coupl interest rate ceil fix interest agreement interest rate ceil offer lastli agreement carri gener cut lend rate quot accept altogeth practic quot pressur increas result reduct bonu carri save deposit discuss vienna deposit rate committe meet june recit lombard club meet juli repres agre quot recommend quot ceil interest save deposit special rate lower claus loan agreement oper loan ti vibor smy discount ceil long term capit save account need quot discuss quot erst repres instruct relev erst repres enter quot talk ci credit institut quot connect dai repres control level held regular committe meet confirm abovement quot recommend lombard meet implement quot detail exchang inform bank forecast annual profit meet agre quot view ensur mutual compar quot assess opportun quot common understand quot calcul propos exchang long term loan base vibor consum lend rate committe meet juli lack interest rate disciplin deplor recommend minimum interest rate undercut loan emploi critic ca practic fund build loan bank financ larg volum hous project construct privat hous quot provid quot bank quot demand quot ca longer offer privat custom loan ca repres refus intern memo ca senior repres point danger quot held increasingli scapegoat interest rate excess quot juli august break rank ba coordin reaction juli ba quot broke rank quot prior agreement cut interest rate bonu carri save deposit bank repres met juli vienna deposit rate committe meet joint quot discuss interest rate cut quot bank agre quot follow quot implement gener quot slight quot reduct chang offici post rate exist hold high interest end bank quot discret quot make cut want cut introduc end week august bawag reckon save at million result coordin interest rate cut episod exemplifi close relationship committe meet vienna provinc vienna deposit rate committe meet issu report quot local discuss quot capit provinc quot willing carri propos interest rate cut quot quot expect quot bank provinc quot fall approach quot ca subsequ minut meet quot region repres quot dai person host graz committe meet propos assembl competitor quot accord week vienna deposit rate committe meet quot cut rate quot styria quot august septemb joint cut lend deposit rate reaction bank cut kei lend rate austrian nation bank august illustr joint decis make process interest rate carri dai august reaction deposit rate discuss intern ca memo measur ca depend quot decis vienna lend deposit rate committe meet quot august ca call quot inform vienna committe meet quot order quot clarifi reaction individu bank quot ba support girocredit propos cut lend deposit rate bank favour quot soldier quot cut introduc juli recit made clear quot immedi match quot interest rate cut ba fairli lengthi discuss bank end unabl quot unanim decis quot quot relev decis quot meet feder lend deposit rate committe special conven purpos septemb quot opinion format individu sector complet quot quot negoti quot septemb meet quot decid cut deposit rate gener quot minilombard meet schedul septemb work propos discuss lombard club meet septemb dai septemb top level repres ba bawag rzb girocredit erst met ca premis quot inform discuss quot quot gener accept propos made quot earlier inform vienna committe meet save interest rate interest rate sight deposit special quot dispo quot account cut select cut interest rate loan minilombard meet septemb quot work final propos lombard meet week quot dai erst repres respons quot offici quot inform opposit number ca erst quot prefer interest rate cut variant cover lend deposit rate quot quot subject agreement institut quot quot object quot meet feder lend deposit rate committe held septemb quot establish approach base agreement loan deposit quot emerg gener feel chang substanti discuss bank favour quot soldier quot major ca erst evid recit rbw psk nö hypo salzburg sparkass wif bank favour gener cut interest rate loan deposit ba girocredit övag erst advoc cut bonu carri save deposit quot receiv major back quot fairli lengthi discuss quot gener interest rate cut final impos quot cut form save deposit includ basic interest rate similar cut current account area cut bonu carri save deposit maximum rate vienna provinc interest rate work council member loan cut bawag quot threaten quot cut cut rate build loan result meet decid cut quot clarif quot matter achiev dai mean quot tel agreement bank austria ca psk erst quot implement date quot differ opinion quot ba want quick cut bank want quot await decis recommend lombard quot minilombard meet dai discuss view quot earlier decis consum lend rate committe quot light cut decid standard minimum rate oper invest loan reset quot pursuant interest rate cut gener decid deposit rate committe meet quot ca cut deposit rate consid intern deposit rate cash bond agre bank quot high competit readi lower rate quot ca cut lend rate quot view plan measur main competitor quot ba intent confirm cut interest rate oper loan interest rate employe group cut quot coordin bawag bank austria erst quot erst made agre cut lend deposit rate septemb make express refer parallel approach adopt quot competitor quot nö hypo likewis cut rate septemb quot lombard quot recit decid lombard club meet septemb repres discuss interest rate cut jointli decid abovement meet intern nö hypo memo drawn septemb author discuss quot deviat approach essenti coordin deposit rate committe meet quot made sens opinion conduct lead quot point remark competitor repres committe meet quot quot result action sale secur bank monei market borrow bank quot view consequ author recommend quot cut save deposit current account sphere quot vienna deposit rate committe meet septemb provid bank opportun joint assess success interest rate cut agre quot minor except quot bawag psk quot offer agre quot monei bank quot essenti satisfi quot implement decis bawag promptli initi quot step quot deal branch offic offer agre precis conclus drawn situat provinc lack quot handi overview quot critic fact bank ba bawag mention implement agre cut work council member loan special rate bank claim delai due comput problem gave assur quot catch dai quot rbw repres bank ca övag nö hypo psk erst cut rate schedul specul region sector quot disciplin quot quot rate term agre quot vienna deposit rate committe employe group rate compli bank octob joint action lend emploi build loan minimum rate handl fee meantim quot interest rate disciplin unravel quot lend emploi build loan culprit identifi erst charg interest fix interest mortgag loan year term erst defend claim quot temporari measur quot quot extend quot bank view interest rate quot longer justifi quot quot settl market quot purpos vienna lend rate committe meet joint session liber profess lend rate committe octob lead bank quot agre minimum interest rate set quot case fix interest build loan minimum rate year term year year borrow offer mortgag collater addit charg case lend emploi minimum interest rate invest loan oper loan quot agreement reach point quot fix interest rate matur year handl fee larg amount flat rate fee charg advertis interest rate media discuss charg extra loan ti secondari market yield present promis quot pass provinci bank repres meet quot conclus arriv view fact interest rate undercut bank minimum interest rate discuss quot subject meet senior manag level quot time bank offer custom cash bond ident matur fix interest save account bank quot agre quot interest rate cash bond close similar fix interest save account shortli ca depart respons person financ ca senior repres quot draft set minimum rate person loan loan emploi quot aim recommend quot discuss bank consensu adopt quot quot calm quot quot exagger competit quot found exist time major bank stuck recommend quot set quot smaller bank expect express quot constant disapprov quot posit step larg bank subsidiari quot decid disciplin approach quot meet novemb exchang inform forecast annual result repres control level gave gloomi portray market situat respect bank quot push deposit rate cut quot discuss quot interest rate problem lombard meet quot account mainten charg concern quot bank discuss ba ca quot decemb aim achiev quot price increas quot build loan committe meet decemb detail exchang inform actual plan issu term issu particip quot agre quot quot unchang quot relev matur year decemb joint cut lend rate heat discuss deposit rate reduct gomex rate prompt conven meet vienna lend deposit rate committe decemb order jointli quot discuss possibl cut deposit rate quot expect austrian nation bank cut kei lend rate decemb bank except bawag favour cut lend rate deposit rate end agre conven meet feder lend deposit rate committe decemb order establish joint reaction expect measur austrian nation bank quot work final recommend quot possibl interest rate cut quot discuss lombard meet quot decemb austrian nation bank fact reduc discount rate led immedi conven feder lend deposit rate committe decemb previous agre recit lend rate concern quot unanim quot interest rate cut agreement deposit rate discuss topic quot increasingli aggress quot bawag quot main target aggress quot account quot inact quot bawag bank refus cut deposit rate end year view bawag obstinaci bank view quot longer bawag consider quot quot agre quot measur cut current account rate ba favour cut reduct bonu carri save deposit top end maximum interest rate monei at million vienna provinc capit save account reach quot agreement spread quot number detail implement date left abey quot discuss agreement quot quot round telephon coordin quot order ensur quot coordin implement measur quot decid set purpos quot contact point ca quot start oper decemb quot telephon contact vienna bank quot plan decemb ca intern recommend quot envisag week decemb quot period hold quot discuss cut quot minilombard committe meet held decemb quot institut quot agreement reach feder lend deposit rate committe meet proviso quot decis deposit rate committe quot case endors manag board final detail decis quot final negoti quot dai quot round telephon coordin quot recit subject condit deposit rate cut particip final quot decid quot lower minimum rate oper invest loan lower prime rate select lower rate exist hold decemb erst repres deposit rate committe inform bawag opposit number erst quot plan approach quot lower interest rate capit save account januari lower special rate januari psk cut basic interest rate special interest rate januari ca cut rate person loan decemb januari quot institut cut standardis save deposit quot except bawag övag lower rate januari quot bank discuss quot quot price increas quot account mainten charg recit smoothli ca ba increas account mainten charg januari chronolog event februari march joint reduct deposit rate formal round talk place februari erst premis heat emot discuss decemb recit atmospher talk vienna lend deposit rate committe quot surprisingli friendli quot ba bawag avoid discuss quot recent event quot substanc particip quot agre quot deposit rate concern quot reduct quot case save deposit specif base interest rate lower current account case capit save account reduct fund maximum interest rate measur put practic quot half march quot quot refin consult lend rate repres provinc repres quot feder lend deposit rate committe februari recit measur discuss lombard club februari quot approach speed quot quot bawag coordin acceler deadlin implement act conven bank quot feder lend deposit rate committe rzb usual request quot product repres provinci central offic report back quot interest rate situat provinc give opinion quot lower interest rate propos touch quot lend side interest rate lower bawag contempl reduct quot live discuss quot propos press quot charg handl fee quot compens low lend rate accept initi subsequ recit quot decis principl quot expect lombard club februari januari ba repres invit opposit number erst psk rzb ca dinner repres bawag invit made apolog moment purpos meet quot preliminari discuss quot upcom quot lombard quot repres ba bawag present lombard club meet februari decis talk move back level feder lend deposit rate committe secur quot approxim regard interest rate paid save deposit quot quot adjust basic rate interest save quot discuss forum ca repres criticis erst opposit number ca salzburg offer loan inter alia vibor ca repres announc senior repres authoris rate issu quot order stop immedi quot build loan committe meet februari usual detail exchang inform exist propos issu rate appli hypo repres put forward loan product quot discuss quot quot detail discuss deposit rate committe meet quot specif quot work parti quot set quot discuss financ model quot offset increas withhold tax build loan ca repres propos quot rais discount smy quot amount discount build loan discuss build loan committe meet februari ca propos discount erst rzb nö hypo ba quot bank appli quot agre bawag argu övag quot follow bank quot feder lend deposit rate committe meet februari variant reduct save interest rate discuss ba announc intend end week march reduc preferenti rate basic interest rate capit save account reduct quot support competitor quot deadlin implement fix quot agreement bank austria bawag repres quot secur earli deadlin reduct ba propos quot repres phone discuss coordin approach quot quot commun quot result achiev quot telephon repres institut quot reach agreement discuss held subject quot lombard club meet quot provinc bank quot hold negoti competitor quot instanc reduct maximum interest rate carinthia styria lombard club meet march bawag repres explain basic interest rate fall bawag quot urgent request reduc basic interest rate quot ca repres institut limit case higher rate reduct made end april agreement reach point discuss refer back expert quot proce decid deposit rate committe morn fridai quot deposit rate committe meet march item quot approv quot ba interest rate cut subsequ quot agreement quot reach effect quot larg institut quot reduc quot interest rate save deposit quot basic interest rate bawag ca insist lombard club meet march save deposit preferenti rate gener maximum interest rate vienna provinc group rate sight deposit preferenti rate gener capit save account gener bawag promis clarifi march prepar reduc basic interest rate joint maximum interest rate realist regard ca attitud base interest rate erst repres consid report senior repres quot talk quot ca repres quot quot deadlin implement march övag march bawag march erst end march ca girocredit rlb nö march psk agre quot hold telephon convers coordin quot march vienna lend deposit rate committe meet april recit quot accept measur quot regard lower basic interest rate quot reduct maximum preferenti rate quot discuss march quot exagger quot competit make joint quot countermeasur quot highest level essenti quot agreement quot minimum rate loan interest reduct deposit interest rate quot restrict measur quot march control committe found regular meet competit bank interest rate jointli draw quot propos allevi cut throat competit quot address senior manag institut senior manag admittedli awar situat march repres ba ca rzb erst met quot talk initi repres ba quot prepar behalf institut view mark downturn interest margin quot stop rate variant quot inter alia overdraft invest loan vibor basi lower rate respect quot work larg institut quot promis quot inform manag board infring quot lombard club meet april repres complain declin earn larg institut quot increasingli recognis readi return minimum bank principl quot vienna lend deposit rate committe april thing analys implement quot round interest cut agre quot march recit emerg institut stuck quot essenti agreement reach time quot institut quot room quot lower interest rate lend side preferenti measur start institut put pressur retail lend interest rate reduct bawag case consum instal loan loan work council member led quot turmoil interest rate talk quot bank repres complain competit quot meantim quot assum quot ruinou proport quot chief critic agreement post interest rate circumv grant gener power respect branch repres quot hyperact quot lend sphere quot check quot end ba present list fax quot minimum interest rate quot categori loan consum instal loan home loan mortgag loan term year invest loan emploi remain competitor quot commun agreement agreement delai mr bank austria quot minimum interest rate quot discuss repres lombard agre quot order quot reduc hyperact segment quot april austrian nation bank unexpectedli lower discount lombard rate result quot meet arrang short notic quot vienna deposit rate committe april particip observ deposit interest rate quot institut carri march round interest rate reduct agre time recit basic agreement made quot quot current structur interest rate quot quot basic satisfactori quot bank point view ba refer quot meet senior manag level arrang wednesdai view unsatisfactori earn situat austrian bank countermeasur discuss highest level quot ba inform meet quot sign determin improv interest margin quot intend discontinu super protect scheme super schutzakt april subsequ rais interest rate announc intend reduc preferenti rate capit save account base interest rate current account standard rate deadlin implement period remain bank quot basic opinion quot preferenti rate save account quot latest sector step quot action quot great import natur attach meet senior manag level quot ba repres quot advoc earn orient measur quot quot special summit quot april quot decid paramet improv margin utmost import attach competit commerci busi retail lend deposit rate quot subsequ quot nationwid lend deposit rate committe quot april recit quot consult provinc clarifi room manoeuvr interest rate deposit sector quot intern memo april erst repres respons corpor bank inform prepar made reduc rate loan regard minilombard committe meet arrang april ad handwritten note intern memo effect quot decid implement quot april repres larg bank jointli react cut kei lend rate quot unanim establish cut kei lend rate previou week scope reduc lend rate commerci sector quot ad manuscript abovement memo quot decid minilombard reduct interest rate quot minilombard particip agre quot pervers competit rate normalis draw lower limit year quot individu institut quot differ quot quot specif quot restrict rate set power mention quot reason approach quot respect manag board senior manag longer provinci director henceforth allow undercut break rate agre foreign currenc loan vibor commit small volum busi agreement defin quot worri quot quot retail sector quot quot restrict measur quot decid special lombard club meet april includ reduct current volum cash advanc at million at million avoid lower claus foreign currenc loan larg volum commerci busi reduct rate set power improv hous bank margin export promot avoid libor commit small volum busi action special lombard club meet april minilombard committe meet draw quot specif measur quot quot decid quot feder lend deposit rate committe meet april minilombard april repres ca retail bank divis request repres ca citi countri director quot reduct save deposit interest rate implement consist quot minimum rate lower agre minimum rate grant quot except circumst quot quot circumst pass branch quot precis implement deadlin made quot talk institut quot lastli region repres provinc request quot organis region talk agre ident level interest rate profit margin benefit quot commiss unabl find record special lombard club meet april rzb repres feder deposit rate committe record note april special lombard quot current interest rate situat retail corpor custom sector discuss quot quot decid initi step stop advertis interest rate quot quot measur quot drawn quot retail lend work parti close cooper lombard club quot entri bawag repres list peopl phone april show quot round bank talk quot place april appar repres ba rzb ca psk inform bawag part intern memo period submit ba record quot rate talk senior manag level ca ba rzb psk bag quot quot breach agreement quot bank notifi immedi time bank concern tackl breach delai dai special lombard club meet feder deposit rate committe met quot main purpos find uniform modu operandi reduct deposit rate quot ba quot lead quot notifi reduct basic interest rate save deposit preferenti rate capit save account post interest rate sight deposit sight deposit preferenti rate employe group save deposit ca explain quot intend follow gener interest rate cut quot erst bawag make cut maximum interest rate fund vienna quot agre quot exist deposit quot sector reduc quot quot region bank quot lend rate committe quot advis quot april fix interest offer retail custom refrain advertis interest rate minimum interest rate lend quot prepar lombard plan quot quot basi talk quot special lombard club meet quot minimum rate agre quot april special lend rate committe meet quot vienna market quot ba ca bawag erst psk rbw part purpos view quot escal competit quot restor quot sens quot minimum rate devis variabl fix interest busi undercut institut end institut announc individu quot calcul minimum rate quot basi common quot gener propos quot determin product consum instal loan loan work council member build loan mortgag loan oper invest loan emploi current account admittedli institut lower common gener propos product appear quot manag quot fix interest busi common procedur set rate appli premium ad lowest variabl interest rate current year bring quot good margin quot acknowledg institut quot agreement undercut made fairli easi quot minimum rate agre lombard club effect lead quot de facto interest greater margin quot quot smaller institut expect break rank quot lombard club discuss cessat special scheme june rais post interest rate march level quot live small differ quot quot implement result quot lombard club meet final lend rate committe meet arrang recit immedi lombard club meet dai quot round bank talk quot ba rzb ca psk april recit continu time bawag take part subject cover avoid fix advanc retail custom attract econom bank inform round talk subject place juli recit meet lombard club repres basi propos ba quot agre basic matter quot hous bank margin export financ particip export financ committe agre march recit advanc at foreign currenc at million minimum premium at million minimum premium matur fix tranch at million minimum rate oper fund rate side call facil custom fix loan lower claus fix interest rate matur year oper fund financ roll basi lend scheme aggress rate current preferenti rate termin june advertis interest rate media mail window displai call special meet build loan minimum rate retail lend loan emploi person categori work council loan consum instal loan build loan mortgag loan current account handl fee formula calcul fix interest loan accord propos put forward consum lend rate committe prepar minimum fee propos secur busi payment rapid introduct fund indic meet senior repres ba adopt measur agre credit institut dai packag measur decid lombard club discuss linz interest rate committe respons upper austria ba repres report quot instruct ba quot implement packag name member ba manag board quot allow except present quot repres bawag girocredit confirm content packag ratifi decis lombard club quot linz interest rate committe meet quickli decid implement paper refer upper austria possibl decid amend quot agre special lend rate committe april recit bank repres met order discuss basic decis senior manag level earlier propos special lend rate committe specif quot implement measur quot discuss detail implement propos fix interest transact add premium lowest variabl interest rate current year recit current scheme foreign currenc loan equival at million premium handl fee termin scheme june advertis interest rate handl charg grant loan item quot institut present promis stick implement point quot ca central offic inform retail custom repres region offic individu minimum rate juli quot longer undercut quot lead quot normalis quot recent quot exagger competit rate quot ca intend make contribut quot normalis overh competit situat quot implement advertis ban extraordinari export financ committe meet concern quot fix hous bank margin quot agre senior manag level recit quot unanim emphasis quot agre valid quot busi quot exist agreement remain unaffect quot minimum margin basi point quot apa quot quot member bank manag board wish remain anonym quot thing quot reason antitrust law quot return formal interest rate agreement common recit quot view current market condit grow desir bank circl definit agreement quot quot desir quot stem low interest rate weak demand credit factor apa quot bank circl feed call code conduct quot june joint debrief countermand latest cut lend rate agreement minimum interest rate heat discuss introduct minimum handl charg meet minilombard committe june quot initi experi system rate quot emerg arrang fix interest advanc quot adher quot larger bank agricultur credit cooper quot control quot quot observ quot arrang sector critic quot salzburg upper austria carinthia local committe agre lower rate quot part quot quot differ quot agre rate quot quot agre quot push quot region interest rate talk implement agre rate nation quot bank repres subsequ discuss problem implement agreement fix interest advanc instanc quot agre quot agre minimum volum undercut case individu tranch attain minimum volum borrow strong link alloc minimum threshold hitherto handl differ credit line actual refer result premium quot natur lead distort competit quot bank want quot proce pragmat quot henceforward estim total volum basi addit fix advanc austrian schill at million million minimum premium prevent quot custom increasingli switch foreign currenc advanc quot lastli quot strictli limit number quot custom quot monei market particip quot larg insur compani subsidiari foreign group energi supplier oil group compani link feder author mention exclud agreement negoti rate agreement withdrawn recit consum lend rate committe meet june bank repres report implement previous agre measur handl fee introduc girocredit bawag rais interest rate ba erst introduc corpor custom repres recit particip consum lend rate committe critic fact minimum lend rate provinc lower agre sector request quot provinci talk achiev wide effect quot quot gener quot interest rate cut quot made retroact wide quot specif juli ba juli bawag begin august interest rate rais consum instal loan loan work council member home loan bawag build loan bawag submit quot written offer tomorrow quot lombard club lastli complain quot problem quot emploi quot preferenti treatment quot stop put case invest loan interest quot includ handl fee quot charg foreign currenc loan offer equival at million premium at million vibor quot final agreement proce quot reach consum lend rate committe june recit particip mortgag committe meet june discuss quot reason rate quot assist hous construct commerci hous construct exist loan feder govern provinc municip emphasis quot push quot end ba prepar quot paper set object respect quot order quot give substanc effici bank talk quot quot paper set object rate set quot draft mortgag committe meet june minimum premium minimum rate establish sector earli april ca criticis media charg quot earli repay penalti quot borrow pai repai loan earli penalti bank ca charg specif case residu amount repres ca retail financ divis explain problem memo senior manag part brought subject lombard club meet june repres agre principl institut practic simpli demand small compensatori payment quot wrong quot quot fulli inform quot technic detail quot expert committe quot problem repres agre preferenti lend rate termin quot gener end juli quot june particip minilombard talk confirm specif exempt quot monei market particip quot agre june recit meantim cancel point quot approach senior manag request agreement quot altern specif exempt propos credit grant compani rais capit difficulti intern market quot joint decis individu case quot consum lend rate committe meet june busi reach quot agreement quot introduct quot minimum handl fee quot retail lend product previou recit agreement reach minimum interest rate loan work council member bawag prepar rais handl fee interest rate view bank withdrew propos joint attempt made autumn discuss fix interest rate heat erst quot correct agreement fix interest rate quot put forward amend interest tabl make quot condit quot stick quot agreement made quot recit seq behaviour quot arous indign present quot erst justifi conduct basi appar undercut agre minimum rate individu competitor repli case admittedli quot measur slower effect quot basic run plan quot stick agreement made quot quot heat discuss agre quot appli minimum rate refer erst emploi person quot transit period month quot case build loan erst success bawag threaten case withdraw quot promis quot demand interest type lend turn quot blown agreement quot joint attempt made begin septemb topic earli repay penalti discuss lombard club recit ca offer make calcul model bank end talk bank discuss introduct quot handl fee quot lend secur busi lastli dissatisfact implement agreement provinc quot repeat region interest rate talk provinc quot place discuss quot proce region quot ba state connect quot urg provinci director retail lend talk place regularli quot june juli joint success failur control committe meet june bank repres report unanim competit situat vienna quot calm quot western provinc quot commerci incomprehens price found quot domest custom spread reach histor low detail analysi made control level juli explain measur jointli carri april quot import step stop collaps custom spread quot rise fix advanc quot counterproduct quot quot introduct stage rate polici quot quot absolut essenti quot cash advanc restrain quot agreement made minimum rate quot result quot minimum rate standard rate market quot minilombard committe quot carri stage rate polici august quot minilombard committe met dai quot characteris gener helpless quot face remark control level bank implement quot recommend lombard quot accept quot clear setback quot joint attempt make larg reduct cash advanc quot time fail quot specif measur discuss minilombard committe meet meet juli repres build loan bank usual detail exchang inform current propos issu rate discuss possibl agre lend rate propos parent institut build financ sector particip conclud reach quot agreement top level talk mortgag committe quot increas competit build societi discuss avoid quot confront quot quot talk build loan bank save bank quot arrang juli ca repres invit high rank repres bawag ba girocredit erst rzb talk earlier place recit unfavour develop bank standpoint fix advanc increasingli grant contrari origin purpos small firm short matur bank view made econom sens futur type practic stop part quot competit monitor exercis quot juli ca staff obtain credit offer bank vienna quot satisfactori result minimum rate undercut singl instanc competitor vienna show good disciplin rate quot august ba conven vienna deposit rate committe meet quot agre preferenti interest rate quot rais interest rate capit save account discuss quot small correct quot erst ba ca rbw rais year save account capit save account market present quot uniform rate pictur quot case preferenti rate busi agre maximum rate except circumst recit hold quot interest rate desert quot ca propos introduct quot save account fee quot discuss date introduct contempl ba ca erst want print refer save account document final quot agre quot subject discuss feder lend deposit rate committe meet septemb septemb quot aggress rate quot germani schoellerbank inclus talk respons correct agreement lower limit foreign currenc loan respons reduct gomex rate consum lend rate committe met septemb particip bank quot agre quot reduc interest rate retail lend sector satisfact fact quot interest rate agre june larg observ quot quot aggress rate quot offer small region activ institut awkward oper takeov bayerisch vereinsbank germani schoellerbank attempt gain foothold market resort quot exclus aggress rate quot present talk quot foreign bank quot quot possibl agreement quot austrian bank invit repres schoellerbank consum lend rate committe meet bank final decid schoellerbank take part competit pressur schoellerbank quot manag quot quot neg quot quot schoeller discuss committe quot case foreign currenc loan agre lower limit at million prove quot achiev difficulti quot minimum loan amount at million quot agre quot quot agreement quot case fix interest loan quot recent agre rate hold quot quot minimum rate decid quot term year year year year emploi person rate lower repli media inquiri higher rate interest lastli ba state intend offer higher interest special loan end septemb mid novemb breach agreement stop special scheme recit announc met quot strong object ca erst övag repres quot intern memo repres ca retail financ divis member manag board date septemb repres bawag quot import interlocutor rate quot quot shrewd tactician highli skill negoti quot field lombard club meet septemb repres discuss practic grant cash advanc social secur organis provinci agricultur credit bank criticis charg premium quot aggress price quot futur minimum premium charg septemb quot save account fee quot joint earn opportun quot main item discuss quot vienna deposit rate committe meet septemb introduct save account fee quot joint earn opportun quot ba set import detail discuss document quot earn optim quot quot except quot quot opportun flight quot introduc quot immedi quot quot jointli quot view quot great sensit quot topic principl discuss amount fee at at fee arous interest round subject discuss detail forthcom feder deposit rate committe meet novemb specif quot propos solut quot develop custom accept explor quot carefulli limit extent quot quot repres lombard club quot contact septemb debrief joint success lend deposit rate retail custom dissatisfact situat corpor custom particip vienna deposit rate committe meet septemb quot satisfi current save deposit situat emphasi disciplin adher vienna market maximum interest rate quot quot desert quot region quot felt dramat quot institut quot contrari origin consensu quot brought higher interest save account market quot regret step think suitabl correct quot bank ground satisfact deposit field retail lend concern consum lend rate committe meet octob quot gener stress agre interest rate hold minimum handl fee implement quot situat corpor custom sector bank succeed quot effort begin year quot quot improv rate broad scale quot achiev quot success vienna area quot quot aggress quot rate polici local bank lead quot crumbl agre minimum margin quot usual practic hitherto agre minimum interest rate prove counterproduct market standard rate fear control level recit reason quot specif rate recommend agre time quot minilombard meet octob lombard club meet octob repres express annoy quot lack disciplin rate quot quot repres girocredit invit largest bank talk quot octob decemb joint reduct deposit rate quot save account fee quot time octob bank repres met extraordinari vienna deposit rate committe meet discuss reduct interest capit save account reduct approv bawag readi accept reduct bank want reduc interest bawag quot induc senior manag level chang mind quot meet broke time quot specif result quot deliber serv basi feder lend deposit rate committe meet novemb recit quot austria wide consensu quot found quot suitabl recommend prepar lombard novemb quot control committe meet novemb erst repres report bank senior repres request view quot aggress rate polici bawag psk talk bawag psk senior repres lombard club quot erst suggest reduct save interest quot gladli receiv quot bank ba volunt quot make attempt line senior manag level talk mid novemb quot quot prepar lombard meet quot feder lend deposit rate committe meet place novemb ba announc control committe meet recit intend quot lombard propos reduct save deposit rate quarter percentag point quot discuss institut repres agre repres lombard club decid interest rate cut save deposit bonu carri save deposit short term capit save account long term result quot quot lombard club quot discuss quot week deposit rate committe meet recit topic discuss introduct save account fee recit intern discuss subject shown introduct fee encount legal difficulti quot question context measur agre broadest level quot danger fee develop quot competit polici instrument quot desir pursu project time anonym save account withdrawn save account document drawn repres quot ideal opportun quot introduct fee lombard club meet novemb discuss reduct capit save account interest gener reduct bonu carri save deposit quot agre quot repres ca retail lend divis report dai member ca manag board quot agreement ca ba rate quot quot lombard club green light save deposit reduct year quot quot talk agreement area quot place novemb agre feder lend deposit rate committe meet novemb recit quot virtual quot bank repres announc intend implement reduct long matur quot quot maximum preferenti rate vienna area provinc implement deadlin erst novemb decemb ca decemb ba novemb psk mid decemb girocredit end novemb begin decemb hypo verband novemb decemb övag decemb rbw decemb bawag quot plan end year short delai quot dai novemb meet time liber profess lend rate committe quot inclus consum lend rate committe prove worthwhil quot discuss quot adher yesterdai decis deposit rate committe quot reduc maximum preferenti rate recit lend rate intent grant oper loan financ charg advisori fee offer fix interest loan year matur foreign currenc loan equival at million nö hypo criticis quot current rate doctor quot refut critic point quot materi vienna doctor rate quot dai particip bank talk secur discuss dual valuat price at euro portfolio list lead basic transpar custom higher cost bank particip quot agre area competit bank avoid effort made appli uniform conduct austrian bank quot period decemb quot joint propos quot made effect portfolio list valu at refer euro drop period decemb bank ultim agre common line dual valuat price quot recommend major quot bank ca meet novemb repres build loan bank worri futur area busi expect futur volum credit issu build loan bank smaller quot avoid destruct competit build loan bank quot switch area busi financ municip infrastructur decemb meet place control level order exchang detail inform quot expect result budget gener condit quot chronolog event januari good start began bank realis quot cut agre quot end recit quot meantim implement sector quot quot interest rate cut quot quot implement quot provinc market situat quot consid quot particip vienna deposit rate committe meet januari quot essenti satisfactori quot quot interest rate talk start year smoothli quot februari march uniform cut deposit rate concert measur quot excess competit quot respect lend rate readi return moder rate polici februari repres build loan bank held regular meet ba repres suggest rais secondari market yield markdown appli build loan bank accord agreement recit particip quot agre adjust kind made uniformli build loan bank begin mention date implement quot particip quot agre earli return loan custom link deduct quot lastli bank announc volum plan loan vienna special deposit rate committe meet februari discuss prepar cut save deposit rate end march bank intern posit time feder lend deposit rate talk februari lombard meet februari quot agre work cut high yield save deposit rate deposit rate committe quot good flow inform lombard club specialis committe case feder lend deposit rate committe rzb repres inform rzb repres deposit rate committe conclus reach lombard club quot consid feder lend deposit rate meet quot feder lend deposit rate meet februari quot interest rate cut decid quot deposit side effect quot austria quot week march cut fix rate matur exceed year cut special rate group employe save rate maximum rate busi provinc busi base rate quot agre discuss touch quot current rate rule public put pictur quot mean confidenti inform apa coordin ba market depart quot lend rate complaint made fix interest rate institut quot contrari discuss agre spring talk place wish senior manag quot lai variabl rate ad deduct year durat lowest variabl interest rate recit quot separ meet quot call march order quot work solut quot recit ca produc intern memo list quot blatant violat competit principl quot formul quot summer quot respect lend rate spread foreign currenc loan ca complain advertis campaign bawag mention rate breach quot senior manag decis quot recit competit bank retail bank sector quot undisciplin meet shortli feder talk quot recit order quot discuss wai quot competit quot bank repres wish return orderli competit situat quot particip vienna lend rate meet march identifi number quot disturb offer quot market neg impact quot intensifi quot fact quot disturb quot interest rate advertis quot violat previou agreement quot quot light agreement made quot foreign currenc loan minimum amount at million increas at million mid year at million end year handl fee charg minimum margin joint decis implement psk set maximum rate special rate busi vienna provinc quot line agreement deposit lend rate committe quot recit fix interest loan pose problem quot interest escal claus quot made imposs pursu previou practic quot attract custom low entri level rate increas initi margin rais interest rate quot final interest rate determin time contract conclud particip quot agre quot word amount futur margin decid agreement margin quot irrevers determin futur interest rate level quot agre special lend rate committe meet held march recit time quot specif recommend quot quot prepar lombard meet quot meet march secur committe discuss rate charg connect stock exchang list quot view put forward lie quot special lend rate committe meet march conven produc quot specif recommend excess competit quot particip quot reach agreement quot subject foreign currenc financ recit minimum amount loan increas at million at million juli at million octob minimum margin eastern provinc branch discret tyrol vorarlberg handl fee rule confirm quot lombard meet consid quot negoti fix interest loan complianc advertis ban success bawag posit advertis rate prove quot entrench quot agreement lastli ba propos introduc fee at charg interest adjust date feder lend deposit rate committe meet april critic express fact cut deposit rate agre februari recit quot quot quot implement uniformli quot preferenti rate concern quot usual recrimin quot ensu end quot agre quot quot stick strictli quot maximum interest rate agre lend quot poor market disciplin quot continu prevail joint interest rate fix quot slip quot bank grasp seri quot rescu propos quot quot resolv matter quot discuss bawag appear withdraw quot jubile project quot repeatedli criticis institut mid bank quot step resolv situat quot subject rais rate work council member loan quot separ talk ba bawag quot institut follow suit quot rate work council member loan equal high credit institut quot quot line ba propos quot recit quot interest rate monitor fee quot at charg undercut maximum rate central authoris fix variabl interest rate combin offer fix interest loan privat individu mortgag loan full term loan matur year quot specif measur quot quot establish quot special lend rate committe meet begin special lend rate committe meet place quot view set minimum debit interest rate privat credit minimum margin fix interest loan foreign currenc loan order optimis incom quot present prepar quot return reason rate polici quot confirm formul time recommend agreement reach special lend rate committe meet march recit respect foreign currenc loan confirm fix interest rate offer full matur loan year recit minimum rate year year year dispar exce interest rate monitor fee at institut prefer increas exist quot loan account mainten fee quot amount introduc fee recit variabl interest loan minimum appli june loan emploi peopl octob work council member loan longer grant juli lastli quot agre interest rate recommend minimum commun media quot bank hope quot control dump price quot intern memo appar written ca repres lombard club meet june repres ca privat financ depart analys situat area note quot exagger rate competit quot implement quot packag measur improv market disciplin quot discuss special lend rate committe meet author opinion quot fail result bawag refus quot rais work council rate discontinu quot jubile project quot promis feder lend deposit rate committe talk april recit june septemb joint success deposit rate continu problem lend rate necessit step step approach feder lend deposit rate committe meet june usual stori heard agreement deposit rate maximum interest special rate deposit recit quot larg hold quot quot achiev ambiti goal set lend rate talk quot quot attempt steadi lend rate price war quot crown success quot agreement adher quot quot agreement foreign currenc loan hold pose problem present quot view quot agre impress sound packag measur hit mark implement small scale measur quot quot measur agre quot bawag criticis jubile project quot peter quot press announc made prior quot coordin quot rate announc ba point directli changeov euro fee increas quot difficult implement quot carri quot quickli quot liber profess lend rate committe meet june bawag special rate offer doctor oper loan criticis quot consider uniti quot prevail subject minimum rate charg oper loan invest loan loan link secondari market yield spread fix interest loan spread relat refer rate feder lend deposit rate committe meet septemb quot satisfact quot express quot deposit rate disciplin quot tyrol vorarlberg name quot breakawai quot provinc satisfact develop lend market quot agreement adher quot highlight quot problem quot quot particip respons rate quot quot sole authoris decis quot respect agreement conclud committe meet import particip discuss specif rate repres competitor respons institut set rate discuss bank point view situat feder lend deposit rate committe talk june recit improv suggest meet control committe conven quot draw interest rate scenario quot result quot present lombard meet market situat discuss board level quot propos quot unanim accept quot addit bank want mid novemb quot prior concert meet quot increas deposit rate quot signal rise quot implement quot urgent increas quot lend rate quot detail discuss implement schedul mid novemb quot recit lastli fee discuss light changeov euro loom ba point fee increas quot difficult implement quot changeov greater vigil expect quot price commiss quot introduc quot quickli quot novemb januari concert rise long term save deposit special rate lend rate ongo discuss base rate measur conceal agreement meet novemb member vienna lend deposit rate committe quot unanim opinion quot rate capit save account open year term longer rais bank want attempt cut base rate bonu carri save deposit subject quot opinion absolut ident quot novemb feder lend deposit rate committe recit quot unanim opinion give reason quot bank discuss consequ complaint suspect agreement lodg european commiss june bank subsequ comment detail austrian media recit connect ba repres recommend quot longer minut quot committe meet intern record talk quot avoid renam quot unsuspici sound name quot market observ quot legal depart particip institut final advoc quot destruct exist record quot order carri quot destruct quot writer hypo intern report meet ask recipi quot read report return writer subsequ destruct quot feder lend deposit rate committe meet novemb quot measur contempl meet area save deposit quot recit discuss quot result quot obtain committe quot unanim favour quot rais rate capit save account year ba suggest lower base rate vienna lend deposit rate committe talk novemb recit quot agreement quot reach subject quot consid close quot quot settl quot quot pursu quot lastli ba ca erst psk bawag determin cut bonu carri deposit end year agricultur credit sector nö hypo övag repres provinc carinthia styria salzburg hand quot sceptic quot initi quot partli bilater discuss quot held alongsid committe meet quot sceptic prepar measur quot big institut implement rise agre lend rate institut announc rais rate privat loan grant march exist loan rais ceil ly privat build loan quot absolut minimum quot payment transact talk dai previous feder lend deposit rate committe meet septemb recit refer made quot major problem quot quot consum associ chamber labour eu price monitor commiss connect changeov euro quot make price increas quot problemat quot summer repres particip bank announc increas fee chequ card at payment slip at custom bank at bank pai chequ at at interview novemb ba repres announc plan rise lend rate announc receiv public critic respons ba repres declar lend rate rais year ba repres cut base rate propos ba feder lend deposit rate committe meet novemb issu press express suspicion connect plan rise lend rate bank conclud agreement quot bank deni exist interest rate agreement quot decemb ca privat financ depart report quot major competitor ba erst bawag implement interest rate rise quot discuss feder lend deposit rate committe meet novemb recit propos ca rais lend rate rise carri quot take account approach intend main competitor quot chronolog event intern memo titl quot inform lombard club quot psk repres respons report vienna institut except bawag lower rate save deposit januari rate long term save account rais time standard rate consum loan recit march success concert cut preferenti rate great discrep vienna provinc march bank repres met vienna lend deposit rate committe establish cut preferenti rate vienna market quot implement adher practic market particip januari februari quot situat vienna area quot stabl uniform quot group work council member rate cut quot implement complet plan quot particip quot uniformli quot move interest rate cut long term capit save account maximum interest rate year capit save account loan bank repres report lend rate rais recit feder lend deposit rate committe meet april bank repres express satisfact uniform level preferenti deposit rate vienna area special rate remain quot recent agre paramet quot maximum interest rate agre provinc discrep consid quot wide quot attempt quot region talk narrow gap vienna provinc quot specif quot region committe make cut provinc quot quot influenc brought bear senior manag level quot lastli ba rbw cut base rate quot cooper bank quot quot major institut pursu concert action cut likewis made summer month quot quot fourth vienna committe quot consist ba ca erst bawag meet discuss subject ba meet place meet schedul june control committe meet ba repres inform particip attent brought institut legal depart quot problem minut control committe meet light competit reserv quot quot minut talk quot special committe export financ committe export lombard committe dealt issu rate connect export financ main bank sat committe foreign bank repres talk centro international handelsbank ag centro respons discuss export financ committe quot foreign bank quot applic part individu foreign bank reject except schoellerbank accept ow intensifi activ area international bank für außenhandel iba initi act quot rate violat quot subsequ includ earli export financ committe member hope quot make iba reason quot import subject meet hous bank margin maximum margin impos oekb export fund fund bodi assist loan refinanc interest rate bank offer custom export rate margin case natur bank make differ oekb export fund extent undercut maximum margin import factor competit bank concern set quot minimum margin quot bring quot abat quot competit area back export financ committe quot conclud agreement futur minimum rate hous bank margin export credit quot view rais rate initi ultim export financ committe meet januari particip report quot success quot quot increas margin quot introduc quot guarante commiss quot quot commit commiss quot quot recommend lombard quot number quot offend quot quot price violat quot iba import recit ca complain lost custom institut oper quot extrem agre rate quot austrian member export financ committe sceptic undertak foreign bank repres centro report quot foreign bank except declar likewis undercut minimum rate quot bank recognis foreign bank quot occasion undercut quot agre margin promis commun centro quot question quot meet novemb critic increas institut undercut quot agre margin quot quot win quot custom offer quot hous bank bonus quot ca complain lose busi competitor unlik institut adher quot strictli agreement quot meet march particip emphasis quot minimum margin quot financ requir equiti back equiti back requir except case event loan equiti back requir export financ committe meet discuss quot fix hous bank margin quot undertaken senior manag level recit quot unanim stress quot agre rate busi requir equiti back quot appli busi quot exist arrang remain unchang minimum margin basi point export credit busi quot full hous bank margin quot appli payment transact austrian bank regular exchang inform domest cross border payment transact regular discuss cross border transact committe made big bank repres provinci foreign bank level transfer charg documentari credit fee interbank fee thing set organis committe austrian associ credit institut org discuss level transfer charg interbank fee cross border transact committe meet april particip favour increas transfer charg at at june quot institut agre set date implement quot recit adjust fee simpl documentari credit schill foreign currenc interest rate minimum fee case quot unanim adopt quot outcom commun org recit common quot rate collect cross border payment transact quot rate collect quot enter forc septemb quot quot discuss quot meet committe lastli rate interbank fee charg settlement cross border payment transact resid quot unanim adopt quot cross border transact committe meet june particip decid increas charg transfer domest bank at at recit quot antitrust aspect highlight quot discuss rate collect advanc quot agreement reach quot meet septemb recit quot final set rate collect longer obstacl quot particip cross border transact committe septemb decid rate collect set collect charg chequ exchang transact simpl remitt date instrument chequ collect fee set appli direct debit system cross border payment transact connect collect rate ba repres point rise collect fee chequ drawn domest bank quot discuss year ago quot quot postpon increas transfer charg quot transfer charg increas recit quot committe final agre implement increas at at quot question quot bank set interbank rate infring restrict practic act quot discuss meet cross border transact committe held novemb quot answer immedi quot separ talk held subject meet octob org awar quot antitrust aspect quot note formal agre increas transfer charg recit institut quot repres bank committe quot inform increas meet member quot refer antitrust problem quot stress quot eu principl legal interpret issu prevail quot bank legal depart quot eu issu quot cross border transact committe meet march particip agre quot examin due consequ eu antitrust law quot round talk context intern legal report produc girocredit april recit cross border transact committe meet quot antitrust aspect interbank price agreement quot discuss basi intern legal report date april produc girocredit report look question quot regular discuss cross border transact committe interbank price coordin austrian bank question antitrust point view quot report conclud arrang qualifi restrict agreement austrian eu competit law refer final possibl quot initi investig proceed european commiss imposit heavi fine quot april member org quot unanim quot agre increas exchang charg interbank transact context quot collect rate quot meet april member cross border transact committe quot unanim decid quot quot cross border direct debit system quot region committe network establish bank cover entir countri order quot extend geograph scope quot agreement reach vienna quot provinc quot ensur quot comprehens quot applic quot widest effect quot bank set numer committe provinc task committe conclud restrict agreement local area involv implement agreement reach lombard club vienna meet adapt local situat act initi hierarchi lombard club specialist committe reflect provinc bank repres respons rate upper austria quot linz lombard committe quot quot coordin build loan rate quot reach agreement mention cut save rate quot wait conclus rate talk vienna linz quot principl rate agre relev region committe context quot local agreement quot appli provinc rule lower rate agre vienna dispar time time consid bank quot wide quot decid attempt quot region talk narrow gap vienna provinc quot specif quot region committe make cut provinc quot quot influenc brought bear senior manag level quot minilombard meet june quot jointli decid rate agre spot appli provinc quot diverg agreement reach vienna quot accept provision solut quot object remain quot adapt vienna system quot ensur systemat seamless feedback continu reciproc flow inform vienna feder lend deposit rate committe hand region committe bank set effici commun channel distinct made respect singl tier multi tier bank group singl tier big bank oper austria inform exchang head offic vienna region head offic provinc quot vienna institut encourag region repres implement gradual term agre vienna market quot minilombard talk vienna june end quot provinci branch big bank hold region talk quot minilombard meet vienna februari inform exchang send minut vienna meet region repres vienna deposit rate committe meet juli april repres ca retail bank depart vienna request ca repres provinc quot organis region committe agre ident level interest rate quot regard quot increas retail lend rate discuss lombard quot ca vienna quot urgent confidenti quot fax januari oberbank salzburg btv tyrol bk carinthia quot request agreement local interest rate talk quot lastli ba quot urg region manag ensur retail lend talk held regularli quot multi tier sector bank group set intern inform represent system agricultur credit cooper group flow inform manag lead institut rzb repres obtain inform region offic prior vienna lend deposit rate committe meet current interest rate situat provinc result vienna talk turn pass central bank provinc quot quickli quot rlb pass result talk attend agricultur credit cooper vienna lower austria circular consider logist exchang inform agricultur credit cooper group letter carinthia central agricultur credit cooper vienna head offic rzb quot rzb inform progress conclus bank committe vienna deposit rate committe lombard meet pass inform quickli agricultur credit cooper carinthia ensur manag inform carinthia agricultur credit associ directli depart respons agricultur credit cooper inform post fax quot rbw function case bank consid repres entir agricultur cooper group vienna deposit rate committe talk juli statement address rbw quot agricultur cooper sector request reduc offer small cooper quot likewis erst girocredit lead institut save bank sector provid flow inform region save bank övag lead institut repres credit union group vienna committe pass conclus credit union bank provinc quot sector fax quot call sector info exampl carinthia upper austria styria illustr decis vienna strong signal provinc vienna feder lend deposit rate committe region committe mutual influenc dai vienna feder deposit rate committe talk regular quot exchang inform quot held klagenfurt bank oper local januari year agre region committe quot wait vienna decis quot particip inform cut maximum interest rate decid vienna advertis ban charg payment transact wait recommend vienna specif result payment transact talk held june dai lombard club meet packag measur adopt brought linz interest rate committe respons upper austria ba repres report packag quot subject instruct issu ba member ba manag board quot quot approv except present quot repres bawag girocredit confirm content packag ratifi lombard decis quot linz interest rate committe quot quot meet promptli decid implement abovement paper upper austria amend quot juli vienna deposit rate committe meet report quot local talk quot region capit quot willing cut interest rate propos quot quot expect quot institut provinc quot follow approach quot result ca minut meet quot region repres quot dai person quot host quot graz talk suggest assembl competitor cut rate quot styria vienna deposit rate meet held week quot parti main argument fact bank concern contest fact set section argu commiss fail account specif histor societ econom social aspect cartel lack disciplin demonstr member implement agreement kei critic made bank address detail legal argument consid part legal assess specif histor societ econom social aspect lombard network function committe bank argument bank argu committe set decad austria access european econom area legal basi typic polit system exist austria time unrealist expect bank simpli abandon committe rich tradit root deep understand econom function austria access european econom area contrari quot fear neg consequ rapid poorli prepar transit free competit quot widespread restrict agreement bank quot driven quot quot ruin quot relev bank manag posit quot suffici account commerci polici calcul criteria evid quot bank view committe term social phenomenon group dynam forum restrict agreement bank refer quot social signific quot cartel talk identifi quot social pressur quot part bank involv cartel understood pure passiv commerci irrelev event neutral effect presenc ordinari basic tiresom sector event oblig attend quot want quot quot part quot reason social prestig övag nö hypo argu commiss brought descript fact instanc cartel decis quot narrow circl quot consist ba ca rzb erst girocredit bawag prior committe meet pass smaller institut talk ba contradict view stress occasion coordin big bank meet actual decis committe meet activ involv smaller institut commiss standpoint commiss awar histor origin committe recit seq note gener measur agreement affect competit interest rate expiri regul agreement long austria access european econom area question sudden disappear measur bank allegedli unprepar decemb quot regul quot commiss view numer record meet obtain show sole purpos talk restrict competit destruct harm share financi benefit bank document statement bank repres context numer repeat numer exampl intern instruct cartel decis commiss find credibl bank spent year send numer member staff hundr cartel meet boost individu social prestig talk social psycholog group dynam aspect addit proven anticompetit object effect commiss view left open role austrian nation bank bank argument bank import repres austrian nation bank oenb part repres lunch context lombard club oenb claim approv agreement made lombard network good austrian bank part activ promot repeatedli call greater awar cost earn bank bank exhort oenb call restrict agreement assum conduct unobjection commiss standpoint oenb repres part monthli lombard lunch number competit neutral subject discuss oenb regularli repres numer rate central committe network oenb statement record minut urg bank endang earn capac econom question commerci polici reinterpret event call restrict agreement bank concern remain respons statement effect econom sound commerci polici achiev agreement competitor detriment custom effect lombard network austrian bank market bank argument report bank argu uncontest restrict agreement comprehens place year influenc austrian bank market report commiss bank conclud quot austrian bank market correspond expect situat intens competit quot report number method reach conclus market result credit save interest austria compar market result germani averag found favour austrian custom german conclud agreement effect austria austrian bank found profit german counterpart true bank product claim staff cost higher institut small anticompetit agreement austria lastli report found interest rate charg austrian bank custom statist speak base interbank rate target rate agre cartel talk commiss standpoint commiss view comparison bank market countri produc conclus market develop differ proven exist agreement fact austrian bank custom product wors averag custom germani comfort sight competit restrict austria custom found rate impact proven restrict agreement conclud proven cartel impact austria austrian bank achiev yield averag higher germani commiss view factor decid question agreement impact extent bank particip cartel influenc formul commerci polici set interest rate charg fee report find basi sampl survei statist calcul averag notic influenc point report cartel discuss specif agreement adopt instanc look interest rate subject agreement deposit rate report take account whatsoev capit save account save account minimum interest rate focus date cartel meet agre implement time commiss object shortcom suppos report free bank gain conclus basi agreement documentari evid lend rate thirteen deposit rate report averag valu consum instal loan save loan scheme contract bank averag valu correspond target interest rate target valu analysi random sampl show consum instal loan report date averag valu relev target valu date diverg small case report obtain similar result save loan scheme report attribut clear align target averag valu agreement fact case examin interbank rate refer interest rate chang find averag valu gear sole interbank rate agre target valu central assert target valu quot independ effect quot averag valu quot quot relev valu proven align target averag valu claim explain pure fact causal relat refer interest rate direct causal relationship target averag valu statist proven central point report refut assert commiss made commiss argu bank reach agreement take account refer interest rate contrari rule agreement gear precis coordin reaction refer rate trigger chang kei lend rate contest refer interest rate import cost factor deposit lend rate commiss reproach bank set agre price take account extern cost factor commiss support overwhelm volum written evid accus bank react concert refer interest rate object concert approach pass cut kei lend rate custom earli deposit rate concern late lend rate concern documentari evid exampl practic bank euphemist refer quot asymmetr cut interest rate quot point report make estim delai pass cut kei lend rate averag lend deposit rate find balanc bank make earn commiss comment report state oblig work estim estim relat exclus statist averag report base fals premis bank face unrestrict competit inform advanc plan competitor circumst length delai pass kei lend rate determin free plai market forc report rightli state quot competitor react problemat rais interest rate quot report hit nail head precis uncertainti conduct competitor bank systemat elimin reaction kei lend rate report premis bank face intens hidden competit correspond evid file mention bank made great effort regularli monitor test deposit competitor complianc agreement charg fee concern bank refer written statement quot natur transpar quot quot full transpar quot bank market reason commiss accept report conclus regular restrict agreement year stand comprehens term content geograph scope effect whatsoev austrian bank market highli paradox bank spent thousand man hour hundr cartel meet agre deposit rate lend rate charg fee free competit produc correct consider proport agre interest rate cartel member implement exact rate agre implement exact time agre case lombard network object miss point target price agre speak implement actual price appli move target valu reach legal assess applic competit law bank industri bank view rule horizont agreement price repres principl clear breach articl ec treati quot perspect quot bank industri concern quot special econom context bank industri quot made quot adopt differenti approach case price agreement quot commiss legal assess overlook fact legal econom consider case appli competit quot understood neutral sens quot quot appli closer scrutini bank industri quot word bank claim special role plai contrast conduct undertak branch economi action quot assess term normal market economi criteria quot argument initi proceed underli judgment court justic european commun juli züchner case relev bank argu vital role plai intern payment alleg impos concert increas transfer charg larg extent subject competit rule court justic expressli reject argument bank object expos free plai market forc assess basi market economi criteria result insolv quot disastr consequ economi quot convinc commiss share view particip oecd round tabl subject desir unprofit bank exit market member state adequ instrument dispos ensur orderli liquid larg credit institut prevent crisi system commun legisl cover eventu market exit credit institut crisi adopt direct wind credit institut major insolv fact threaten develop crisi affect system member state provid direct support limit set rule govern state aid permit point issu undertak limit competit cartel agreement level appear reason allegedli gener interest improv econom situat final bank argu commiss adopt quot unclear quot attitud interest rate agreement past quot uncertain dai ban agreement appli bank industri quot creat quot situat trust quot favour bank led quot confus legal situat quot bank case law administr practic pictur report competit polici commiss made clear articl ec treati applic agreement bank quot gener term quot question gener applic articl ec treati area aris event doubt respect remov court justic rule articl appli bank oper servic gener econom interest entrust measur adopt public author respons judgment commiss made clear eleventh report competit polici agreement concert practic relat interest rate charg similar paramet competit subject articl ec treati commiss consist oppos horizont agreement bank relat price charg bank custom commiss member special respons competit publicli made clear opposit interest rate agreement bank state price agreement infring articl ec treati decis eurochequ helsinki agreement case commiss impos fine particip agreement relat charg commiss doubt ban agreement appli fulli price agreement credit institut long austria acced european econom area articl ec treati appli time bank industri decis case bank cite fact defenc incompat price agreement competitor expressli stipul articl ec treati confirm establish case law commiss compet respect argument put forward bank bank argu commiss compet action infring articl eea agreement commit broadli substanti pursuant articl eea agreement efta surveil author commiss compet deal case relat trade commun efta member state oppos eu member state relev undertak achiev eea wide turnov territori efta state case austrian bank efta surveil author initi proceed relev bank quot pend case quot articl act access austria finland sweden transmit commiss austria join commun commiss compet deal agreement question januari commiss view legal interpret put forward bank grant immun cartel infring commit past commiss prevent take action infring commun law eea agreement part commit undertak member state interpret thwart full effect eea agreement competit rule laid set system ensur competit distort rule thereon equal respect object principl specif refer articl eea agreement court justic european commun deal question legal situat clarifi commiss waiv find articl eea agreement infring respect articl ec treati comment articl ec treati subsumpt provis fact set previou section base structur introduct case law european lawcourt concept quot agreement quot quot concert practic quot discuss section attent paid assess quot complex infring quot build legal qualif fact complex infring consider durat compris agreement concert practic section section explain undertak particip practic intend restrict competit specif impact practic market discuss comment effect practic trade member state section undertak found commit infring section durat infring section agreement concert practic case law establish case law court justic european commun court instanc agreement mean articl ec treati parti reach gener consensu action concern suffici undertak question express joint intent conduct market specif agreement written formal express penalti attach back implement measur contrast concert practic mean articl ec treati presuppos parti conclud agreement specif market concept focus form coordin knowingli substitut practic cooper risk competit stage reach agreement recit conclud cooper requir work actual plan understood light concept inher competit provis ec treati econom oper determin independ polici intend adopt market requir independ laid establish case law court justic depriv econom oper adapt intellig exist anticip conduct competitor strictli preclud direct indirect contact oper object effect influenc conduct market competitor disclos competitor conduct decid adopt contempl adopt conduct caught articl concert practic agre decid behav market parti deliber follow adapt common strategi promot facilit coordin conduct market suffici competitor declar intent remov substanti reduc uncertainti market conduct expect assum declar intent ultim prove fulli correct concept concert practic presuppos conduct market necessarili impli conduct produc concret effect restrict competit subject proof contrari relev undertak adduc presumpt undertak particip concert arrang remain activ market account inform exchang competitor determin conduct market concert regular basi long period appli case particip undertak meet anticompetit purpos limit mere receipt inform futur conduct market competitor establish case law commiss oblig event infring extend lengthi period classifi exclus agreement concert practic event form infring cover articl ec treati divid separ infring distinct fact prove unwork impract infring simultan displai featur type prohibit conduct manifest look isol fall categori concept subject involv form collus type differ intens form express make sens divid continu integr institutionalis pattern behaviour serv purpos purpos individu infring commiss entitl classifi complex infring agreement quot quot concert practic complex infring includ element classifi quot agreement quot element classifi quot concert practic quot diverg interest cartel member result consensu reach matter point vagu formul gloss formal agreement reach issu intern conflict breach rule member case stiff competit outright price war factor result conduct question constitut agreement concert practic pursu singl common last purpos agreement concert practic natur infring present case explain length bank concern creat dens network committe commun overlap term refer addit larg number region committe austria period cover investig meet averag work dai shown held vienna take region committe account addit prove numer contact institutionalis network place repres undertak concern highest level meet committe dealt explicitli interest rate particip reach consensu set rate proceed cartel meet summaris section length section legal point view evid aspect practic stage road reach consensu qualifi agreement mean articl ec treati event cover concept concert practic involv fact larg number action anticompetit object meet concept agreement concert practic take form singl infring articl ec treati ongo regular institutionalis comprehens exchang confidenti inform particip bank establish high degre mutual understand reciproc condit partial agreement current futur market conduct systemat elimin consider reduc uncertainti competit conduct bank interest rate increas decreas negoti bank appli interest rate charg kind common calcul base advertis basi interest rate quot quot individu bank except drew critic fierc bank meet contact purpos distort competit section commiss take view fact decis reveal complex infring consider durat undertak found commit infring parti undertak particip main committe meet knew exist committe meet make sens divid ongo common point view subject matter organis interconnect system practic entireti direct distort competit artifici fact close interwoven compon part construct separ infring object purpos restrict competit explain length section bank take part practic issu sought agreement characteris quot quot quot construct quot avoid quot ruinou quot competit bring quot control quot quot reason quot quot standardis quot quot disciplin quot quot eas quot quot quot quot displac quot quot limit quot quot moder quot quot orderli quot euphem distort restrict competit purpos practic agre concert price interest rate charg restrict advertis measur anticompetit purpos expressli admit bank establish case law purpos appli articl ec treati account actual effect agreement concert practic appear aim prevent restrict distort competit common market principl actual effect examin case sake complet clariti note practic issu fact effect austrian bank market context born mind instanc target price agre implement price charg approach target valu target precis achiev place refer made specif exampl implement cartel decis fact addit numer intern memo demonstr bank implement cartel decis inform obtain discuss account set rate psk set maximum interest rate quot accord agreement deposit rate committe quot plan market quot relat fee consider fellow competitor quot bawag rais credit interest rate quot line quot measur bank accord agreement nö hypo lower save interest rate quot basi cut agre feder lend deposit rate committe telephon consult sector quot quot accord measur recommend deposit rate committe quot meet erst lower lend interest rate quot light prior agreement lend deposit rate committe quot chang save interest rate quot line fellow competitor quot increas volum fix interest rate loan quot agre treasuri round quot girocredit lower lend interest rate quot light expect agre feder lend deposit rate committe behaviour market particip quot ca cut interest rate employe group quot coordin bawag bank austria erst quot ca region offic salzburg cut save interest rate quot agre salzburg institut quot ca oberösterreich cut save interest rate line quot agre action upper austria bank quot bank conced tailor polici rate knowledg competitor plan obtain discuss bank expressli conced comment quot adapt quot competit conduct plan bank quot suit agre arrang quot conclus evid form document secur bank basi check bank regularli carri assess actual implement agreement state quot major bank stick agre interest rate polici basic complianc refer figur quot institut quot carri agre interest rate cut stuck essenti agreement made quot quot recommend rate quot bank quot essenti satisfi quot implement joint decis quot singl instanc quot agre quot minimum rate undercut quot quot cut agre meantim implement quot quot interest rate agre larg observ quot rate remain quot recent agre paramet quot market present quot uniform rate pictur quot fact complianc bank group amount quot quot view critic written comment relev bank admit cartel particip quot occasion broke interest rate disciplin quot lastli improb bank met regularli averag work dai meet futil ineffectu regular detail exchang inform calcul method paramet control committe competit restrict effect deem signific bank interest margin thin commiss view establish agreement issu effect market quantifi effect precis determin rate charg fee bank appli determin conduct market autonom independ condit undistort competit state report commiss bank fail show cartel effect commiss unawar fact area lend vaunt quot interest rate disciplin quot frequent left desir bank endur setback common endeavour improv margin admit failur quot lack disciplin quot led case quot price war quot agreement effect market effect trade member state establish case law order agreement undertak affect trade member state forese suffici degre probabl basi set object factor law fact influenc direct indirect actual potenti pattern trade member state appreci prejudic realis aim singl market member state order establish exist influenc pattern trade detriment attain object singl market member state comparison made actual situat hypothet situat obtain restrict competit assum undistort competit question sole restrict indirect potenti deflect pattern trade natur immateri influenc unfavour neutral favour prevent import analysi assess made individu factor separ result influenc context agreement practic view account econom factor peculiar sector question establish recent confirm case law cartel cover entir territori member state liabl natur affect trade appreci member state assess appreci effect import subject agreement practic market posit cartel member relev lombard network consist number close interwoven committe cover austria includ austrian bank cover rang bank product servic austria alter condit competit austria influenc market entri decis foreign bank liabl influenc trade member state appreci extent argument put forward bank bank begin complain commiss wrongli focus liabil network affect trade member state bank view liabil examin prove isol individu committe bank refer judgment court instanc vgb commiss state articl ec treati quot appli agreement contribut significantli close market quot bank argu court justic develop specif test assess bank servic judgment januari bagnasco test appli commiss decis nederlands verenig van banken assess discuss committe isol appli criteria specif test ultim lead conclus committe appreci effect trade member state disregard commiss view bank argument base premis interconnect system agreement number committe complet independ view documentari evid premis unten view individu committe isol bank demand form hypothet intellectu experi ampli demonstr fact committe extrem close interconnect term subject cover organis evid fact distinct individu committe strictli adher topic area dealt committe respons area artifici divis network individu compon bear relat real fact impact cartel judgment vgb commiss cite bank concern demonstr opposit bank argu subject matter assess commiss disput decis subsequ court justic bodi decis agreement suppli floricultur product plaintiff premis aalsmeer netherland bodi rule includ provis user fee trade agreement court instanc held quot rule liabl affect trade member state trade agreement form integr part rule import isol affect trade member state suffici extent quot precis situat exist lombard network court instanc separ exclus purchas agreement plaintiff conclud dutch wholesal contrast part bodi rule mention recit exclus purchas agreement court view direct link bodi rule court instanc consid agreement appreci affect trade member state basi criterion appli vertic agreement close market context regard bodi rule court instanc cite judgment delim discuss quot signific close market quot refer bank judgment bagnasco decis nederlands verenig van banken provid support legal view bank case compar minor servic bank market claus gener condit busi gener guarante bagnasco accept giro nederlands verenig van banken involv bank servic constitut quot gener guarante quot natur cross border dimens minor affect trade member state appli accept giro commiss expressli describ decis product quot limit import quot differ compar lombard network compris minor margin product close interwoven aspect bank save interest rate lend interest rate charg free competit respect fundament paramet competit fact consider summaris basi settl case law proven comprehens geograph substant coverag network undisput anticompetit purpos similarli proven impact austria support commiss legal interpret network consist number interconnect committe liabl appreci affect trade member state contrari view bank irrelev context individu particip undertak practic appreci affect trade member state lombard network liabl affect trade member state commiss show individu particip undertak appreci affect trade liabil lombard network appreci affect trade member state illustr number specif exampl exampl liabil direct indirect impact concern demand suppli side demand side level state deposit foreign bank austrian credit institut amount eur billion loan grant austrian credit institut foreign bank eur billion comprehens agreement austrian bank save lend interest rate liabl affect individu firm member state saver borrow directli appreci extent part practic issu concern servic cross border natur reason capabl affect trade member state natur close relat cross border good flow agreement relat cross border payment transact documentari busi bui sell secur fall categori aspect practic natur connect cross border transact exercis indirect influenc thereon lend rate necessarili affect invest product decis subsidiari foreign firm austrian firm austria connect account austria high export ratio tradition close relationship austrian undertak quot hous bank quot import rais capit concern direct invest austrian entrepreneur member state at billion case undertak size turn intern capit market agreement issu true quot adher limit extent quot austrian bank discuss expressli exclud custom gener agreement appli quot joint decis individu case quot consider set recit appli aspect conduct relat interest rate consum lend lend serv financ purchas consum durabl made austria import member state motor vehicl assum lend rate influenc good flow member state suppli side level effect practic issu confin demand side shown paragraph follow practic influenc competit condit suppli side affect trade member state length practic relat bank product servic austrian bank involv largest bank practic object comprehens countri wide long term agreement depart optimum factor alloc expect normal competit condit price profit level prevail condit undistort competit document cite recit show estim bank succeed inconsider degre clear comprehens exposit section section agreement object case effect bring mainten collect monopolist price behaviour exagger increas price profit time agreement preserv ineffici market environ foreign competitor account decid extent enter austrian market condit agreement liabl deflect pattern trade natur influenc decis enter market agreement object case effect bring mainten exagger increas price profit expect domest cartel member react undercut agre interest rate foreign member result competit price cartel member profit threaten pressur cartel member seek neutralis competit sustain exagger price profit increas ty foreign competitor threat foreign competitor market share small ty place export financ segment foreign bank threaten undercut interest rate agre austrian bank quot soften margin quot austrian bank felt bound includ foreign bank west lb ad hoc agreement formal admit particip foreign bank repres membership relev committe export financ committe section detail case foreign bank german schoellerbank austrian bank decid admit export financ committe schoellerbank quot fairli strong activ quot area matter view differ person bank field german bank schoeller increas market share offer favour interest rate ow exclus cartel austrian bank quot possibl coordin quot schoellerbank cartel member consid revers exclus discuss possibl quot invit schoeller bank repres consum lend rate committe meet quot schoellerbank market share segment small bank quot conclus competit pressur bearabl larg bank quot quot bad thing schoeller knew discuss meet quot argument put forward bank bank exampl signific demand side concern argu link financ cross border flow good pure specul suppli side commiss prove trade member state affect result close market vi vi foreign competitor commiss view commiss view argument hold view major import bank rais capit austrian compani high export ratio compani obviou link financ cost invest decis possibl comprehens agreement financ term direct effect cross border flow good suffici plausibl argument absenc close market concern legal view bank misconceiv respect place establish case law trade member state affect advers sens matter effect favour unfavour commiss requir prove actual effect capac divert cross border flow good natur direct suffici lastli bank incorrect take view capac produc effect exist market access made difficult foreign competitor market close pursuant case law cite point market entri prevent foreign undertak influenc market entri decis context note agreement long time prevent develop effici market condit sum network consist number close interconnect committe liabl appreci effect trade member state view proven comprehens geograph substant coverag undisput anticompetit purpos similarli proven impact territori austria addit network liabl hand affect behaviour demand side directli indirectli gear cross border flow good market entri decis suppli side undertak found commit infring select larg number bank parti practic issu addresse decis singl frequenc particip meet major committe vienna feder lend deposit rate committe includ consum lend liber profess lend rate committe minilombard committe control committe addit except nö hypo rbw juli rlb plai import role austrian bank market size individu bank object select made commiss argu discrimin compar bank decid impos fine commiss accept argument contrari view bank infring equal treatment commiss carri proceed undertak involv infring make select basi object criteria question attribut event legal success merger attribut infring competit law commit defunct compani devolv legal successor purpos case ca conduct attribut ba psk conduct psk rbw conduct rlb attribut call question relev undertak proceed bawag psk hvb ba question attribut aris process acquisit occur infring end psk ba acquisit bawag hvb simpli incorpor undertak continu continu activ subsidiari psk ba liabl infring addresse decis impos fine call question proceed contrast attribut conduct girocredit time acquisit major share erst octob refer hereinaft quot relev time quot issu statement object commiss view liabil infring commit independ girocredit view merger erst transfer erst assert conduct girocredit attribut ba group girocredit belong relev time particip cartel case law natur legal person charg relev undertak time infring liabl action time adopt decis find infring person respons oper undertak circumst anticompetit conduct undertak attribut parent compani subsidiari independ determin market behaviour econom legal ti parent compani essenti instruct instanc commiss choos attribut infring commit subsidiari parent compani present case provid relev time girocredit independ determin behaviour primarili econom legal ti parent compani essenti instruct commiss chosen attribut infring commit girocredit girocredit parent compani numer document case file provid evid girocredit busi polici influenc determin parent compani analysi document minut cartel meet intern girocredit document connect intern decis make show commiss view girocredit act independ respons instruct interest interest save bank group girocredit sole respons infring commit light fact commiss imput girocredit infring girocredit attribut parent compani consid altern girocredit respons infring commit subsequ merger erst transfer full rule success titl erst consider rule success titl erst liabl fine impos girocredit respect infring commit account liabil addit liabil infring commit erst prior merger nö hypo januari övag group member compani commiss provid nö hypo time determin conduct independ econom legal ti övag essenti instruct chosen attribut infring commit nö hypo övag indic numer document file influenc determin nö hypo busi polici övag analysi document minut cartel meet intern nö hypo document connect intern decis make show commiss view nö hypo repres interest independ respons instruct evid minut meet repres nö hypo part committe meet januari end infring nö hypo sole respons infring commit appli psk relat psk merger durat infring practic issu fell januari articl ec treati commiss assum committe meet place time investig june infring end time extent undertak duti repli bank contend oblig repli larg proport question ask request inform answer question ask suppli paper request voluntarili purpos commiss notic juli imposit reduct fine cartel case lenienc notic appli time bank argu broadli question proper quot interpret subject matter purpos quot talk bank demand produc document entri record minut talk likewis inadmiss product document commiss constitut quot direct admiss quot part commiss accept view settl case law order ensur effect articl regul commiss entitl compel undertak provid inform fact disclos commiss document relat thereto possess document show undertak engag anticompetit conduct undertak silenc extent compel provid answer involv admiss part exist infring incumb commiss prove undertak compli request factual inform detail take part talk document exist copi invit agenda minut intern record report inform document sought request inform made precis kind commiss ask date detail particip precis identifi committe lombard club control committe region committe case committe identifi ask exist document drawn connect talk question refer strictli factual matter question quot blanket demand part commiss admit infring commit quot bank contend commiss view question except remain bound trace court justic court instanc european commun light case law question ask subject matter cartel talk oppos decis likewis admiss point decis commiss fact base pre exist document remedi articl regul articl regul state commiss find infring articl ec treati requir undertak concern bring infring end commiss take inspect carri talk case prove contrari commiss understand addresse requir bring infring end addresse requir refrain futur agreement concert practic similar object effect practic identifi decis articl regul fault intent bank deni fault part practic engag infring european antitrust law support content argu practic approv support austrian nation bank product typic austrian consensu polit januari austrian antitrust law specif ban restrict practic verhaltenskartel exist lombard club matter public knowledg action austrian author commiss administr practic respect interest rate agreement legal posit unclear austria recent member state commun poorli acquaint commun law awar agreement affect trade member state claim made unavoid error unlaw agreement commiss accept submiss histor origin committe particip austrian nation bank commiss state view recit seq suffici point austrian nation bank call bank calcul price commerci respons fashion reread demand conclud restrict agreement committe central network rule attend austrian nation bank explain detail section austria enter european econom area articl publish discuss applic bank european competit law includ concept potenti effect cross border trade tradition interpret broadli difficult bank unawar discuss undertak member state commun irrespect date access countri indisput oblig acquaint law forc differ respect domest law fact document cite section show bank fulli awar suspect point view competit law thing difficult explain decid quot renam quot quot destroi quot record cartel reason commiss reject accus put forward bank commiss want quot make bank sector recent member state quot agre bank impos fine quot demonstr deal member state quot plan access countri central eastern europ fact quot counterproduct quot regular lunch senior manag level lombard club framework matter public knowledg rule true committe network commiss role discuss action nation author factor releas bank fault infring intent suffici undertak unawar conduct complain aim restrict competit case relev undertak awar conduct restrict object awar incompat ec competit law doubt bank act intention purpos articl regul relat case law gener consider articl regul commiss decis impos undertak fine eur eur sum excess thereof exceed turnov preced busi year undertak particip infring intention neglig infring articl ec treati fix amount fine regard graviti durat infring role plai undertak part infring assess individu set fine account aggrav mitig circumst lenienc notic appli basic amount fine basic amount fine calcul reflect graviti durat infring graviti court consist held graviti infring determin refer numer factor circumst case context dissuas effect fine bind exhaust list criteria account case natur infring natur price agreement constitut infring articl ec treati commiss account specif circumst gener context infring manifest infring harm type horizont price agreement bank servic vital import consum busi economi import sector toler shown cartel cartel comprehens institutionalis lombard network commiss consid infring articl ec treati natur implement impact cartel market implement impact cartel account number aspect case practic issu aim directli restrict competit caught articl ec treati result practic effect bank concern part regularli frequent round talk document relev period seiz show bank implement agreement reach talk account inform obtain competitor talk busi decis document show wide rang agreement reach year impact market parti cartel accept revers admit effort fail agreement effect market explain report drawn bank show cartel impact size geograph market view special circumst present case context infring compar limit size territori austria prevent infring consid submiss bank commiss conclus graviti infring bank put forward number argument view tend reduc graviti infring concern price involv market share quota arrang effect felt market small member state impact limit austrian nation bank part infring recent member state austria quot period adjust quot austrian bank adapt principl unrestrict competit appli commun quot dai quot natur infring implement impact discuss reason likewis set limit particip part austrian nation bank compar recent membership austria commun factor tend reduc graviti infring commiss conclud undertak decis address commit infring articl ec treati differenti parti cartel infring classifi categori scale fine impos make differenti offend account effect econom capac time fine set level ensur suffici dissuas effect differenti approach kind desir wide variat size undertak group part infring case account special featur austrian market unrealist confin import erst rzb övag network effect capac restrict competit expens consum volum individu busi commerci bank document case make impress clear undertak line role leader respect group made essenti contribut effect network austria intens flow inform group repres interest group regard repres group parti cartel agreement individu institut group ignor group institut head save bank group agricultur credit cooper group credit union group result fine set level justic fact touch realiti dissuas effect dissuas effect suffici futur lead institut refrain engag cartel conduct repres group bank bank group concern divid categori basi inform market share categori consist girocredit merger erst includ save bank group rzb includ agricultur credit cooper group categori consist ba ca consist bawag övag includ credit union group erst merger girocredit psk psk form fourth categori categori consist smallest undertak concern nö hypo rbw rlb basi rel import relev market undertak group undertak categori commiss arriv initi figur calcul fine gt tabl gt durat purpos proceed conduct question last januari end june half year initi figur fine arriv basi graviti infring increas durat special consider appli girocredit erst merger girocredit octob erst particip infring commerci bank merger involv lead institut save bank sector durat infring erst sole commerci bank amount year girocredit merger erst particip lead institut save bank sector durat infring conclus basic amount fine basic amount fine gt tabl gt step account aggrav mitig circumst undertak appli lenienc notic mitig circumst mitig circumst invok bank bank draw attent austria recent membership commun allegedli confus legal posit particip state bodi commiss discuss argument reason set mitig circumst bank draw attent difficult econom situat industri busi polici accustom pai suffici attent method calcul evid argu obtain return particip cartel point put end talk inspect carri commiss view commiss take view shortcom manag undertak constitut mitig circumst affect earn posit undertak concern situat undertak step independ improv profit enter restrict agreement price cartel inadmiss undertak receiv cartel profit set fine commiss oblig account poor financi posit undertak acknowledg oblig confer unjustifi competit advantag undertak adapt market condit characterist competit market undertak secur return capit badli run undertak maintain market posit cartel retard restructur suppli take place unprofit undertak leav market profit consolid bank conced case mitig circumst end infring inspect place commiss case case light specif circumst automat relationship end infring mitig circumst continu aggrav circumst view manifest charact infring fact brought end inspect regard mitig circumst mean guidelin mitig circumst period question repeat instanc quot lack disciplin quot price war cartel lombard cartel good time good time endur crise occas bank repeatedli attempt gain market share undercut exceed agre rate short period conduct typic cartel consid mitig circumst particip includ occasion quot price breaker quot profit extent action decid jointli inform regularli exchang futur conduct market competitor bank occas commerci decis depart agreement exploit cartel advantag mitig circumst invok individu undertak concern bank argu present committe meet real econom interest talk bank repres small insignific rzb submit limit amount privat custom retail busi plai passiv role lombard network rzb conced organis flow inform insid agricultur credit cooper group help make restrict agreement effect erst biggest bank group austria hold small market share influenc talk psk argu subsidiari psk bank minor role credit busi particip relev committe meaningless ineffect bawag argu part talk quot extrem reluctantli quot quot ow materi constraint quot quot cooper agreement quot quot unlik particip committe quot bawag polici interest rate price quot bank agre uniform reduct interest rate quot bawag quot allow ti agreement quot word resist temptat quot unlik competitor psk broke loos interest rate disciplin occasion quot rlb draw attent small size limit radiu action rbw confin vienna explain particip feder committe rbw repres univers esteem specialist altruist reason quot brought expert vienna market specif repres interest rbw quot övag nö hypo confin passiv take note decis arriv quot smaller bank circl quot run committe meet profit social prestig particip cartel talk commiss view explain realist confin import network erst rzb övag volum busi commerci bank document case make ampli clear line role lead institut respect group undertak made essenti contribut effect network group intern system commun repres interest group regard repres group parti cartel reli defenc size busi order evalu role network bank concern commiss carri detail analysi import committe respect ba ca conven vienna lend rate deposit rate committe meet feder lend rate deposit rate committe meet minilombard control committe meet erst girocredit rzb psk bawag övag conven meet analysi document proceed cartel talk big bank bank group plai compar greater part divis role cartel meet factor consid mitig circumst aggrav circumst particip profit extent result action decid jointli inform regularli exchang futur conduct competitor market bank occas busi polici decis depart agreement exploit cartel advantag true bank repeatedli criticis competitor depart agreement isol instanc aggress price behaviour show bank act independ document show bank determin busi polici account inform acquir talk futur conduct competitor market distinct made bank part cartel talk reluctantli bank happi role individu bank group correl market posit differenti made bank divid categori scope increas reduct intermedi outcom applic lenienc notic aggrav mitig circumst basic amount determin remain unchang take account corpor implic attribut infring preliminari basic amount gt tabl gt lenienc notic section lenienc notic signific reduct fine impos allow quot statement object enterpris commiss inform document evid materi contribut establish exist infring quot quot receiv statement object enterpris inform commiss substanti contest fact commiss base alleg quot bank invok provis claim quot cooper quot investig fact form repli request inform joint exposit fact point decis contest fact request inform explain commiss take view request bank state date committe name attend accord relev case law request bank hand exist document relat committe fact document suppli possibl provid evid undertak infring competit contrari view bank equival admiss inform date meet person attend document hand provid voluntarili requir law voluntari definit qualifi quot cooper quot refer voluntari collabor common interest decis commiss base exclus document exist answer question subject matter cartel talk repres ad joint exposit fact court consist held reduct fine justifi undertak conduct enabl commiss establish infring easili undertak drawn attent import fact commiss commiss ask exhaust answer request inform precis exhaust made easier commiss understand signific fact document draw infer establish exist infring bring end assist commiss investig pure practic logist fashion submit document chronolog order justifi reduct fine past commiss grant reduct undertak contribut voluntarili legal requir substanti ascertain import fact autumn submiss joint exposit fact director gener competit told bank assess fine depend ad legal requir document inform bank propos provid reduct fine direct proport ad ad easi determin sum fact ascertain inspect document provid provid accord duti suppli inform fact explan facilit commiss understand case fact explan assist comprehens make easier commiss establish infring document submit joint exposit fact commiss unabl identifi fact ask commiss bank likewis unabl identifi document document submit document seiz commiss document provid provid respons request inform document volumin arrang chronolog order contain fact commiss purpos provid ad appli document suppli ba shortli joint exposit fact submit bank manifestli suppli document request commiss minut hall committe meet authent contest suppli commiss januari person specif request ident secret answer supplementari statement object bank submit minut meet submit repli request inform suppli joint exposit fact joint exposit fact scope inform request detail account histor background network ask request inform summaris place individu committe meet summari fact discern document cast innoc light convei impress interest rate charg similar matter side issu seldom discuss proven agreement restrict discuss interest rate charg paramet competit systemat pass summari meet vienna feder lend rate deposit rate committe consum lend rate liber profess committe minilombard control committe singl refer specif interest rate charg statement object present decis show pictur basi document form relev period select cosmet approach bank account lombard club meet meet discuss gener recommend austrian nation bank documentari proof meet repres discuss measur rang specif minimum interest rate wide rang bank product minimum premium advertis restrict fact unment joint exposit fact structur differ statement object present decis committe isol line bank view institutionalis network omit interconnect cross link committe expressli deni lombard club steer function emerg document joint exposit serv clarifi fact numer unequivoc document case unnecessari seek evalu evalu direct contradict commiss joint exposit consid constitut cooper kind bring entitl reduct fine drawn bank defenc present evalu differ drastic statement object present decis decis undertak contest fact set statement object expedit proceed make easier establish act infring justifi reduct fine logic case bank contest fact basi document seiz premis subsequ suppli accord duti provid inform view hundr minut record similar document seiz challeng event difficult imagin fact disput commiss argu submiss commiss resourc ti proceed prolong bank decis contest fact save work part commiss justifi reduct fine final amount commiss set fine impos articl regul gt tabl gt adopt decis articl januari june erst bank der oesterreichischen sparkassen ag raiffeisenzentralbank österreich aktiengesellschaft bank austria aktiengesellschaft bank für arbeit und wirtschaft aktiengesellschaft österreichisch postsparkassen aktiengesellschaft österreichisch volksbanken aktiengesellschaft niederösterreichisch landesbank hypothekenbank aktiengesellschaft raiffeisenlandesbank niederösterreich wien ag infring articl ec treati take part agreement concert practic respect price charg advertis object restrict competit market bank product servic austria articl undertak refer articl immedi bring end infring refer articl refrain futur repeat act conduct object effect infring articl infring refer articl fine impos gt tabl gt articl fine impos articl paid month date notif decis commiss bank account account iban code swift code bbvabebb banco bilbao vizcaya argentaria bbva sa avenu de art kunstlaan brussel expiri period interest automat payabl interest rate appli european central bank main refinanc oper dai month decis adopt percentag point total articl decis address erst bank der oesterreichischen sparkassen ag graben wien raiffeisen zentralbank österreich aktiengesellschaft stadtpark wien bank austria aktiengesellschaft vorder zollamtsstraß wien bank für arbeit und wirtschaft aktiengesellschaft seitzergass wien österreichisch postsparkass aktiengesellschaft georg coch platz wien österreichisch volksbanken aktiengesellschaft peregringass wien niederösterreichisch landesbank hypothekenbank aktiengesellschaft kremser gass st pölten raiffeisenlandesbank niederösterreich wien ag friedrich wilhelm raiffeisenplatz wien decis enforc pursuant articl ec treati brussel june commiss mario monti member commiss oj oj oj oj januari date austria access european econom area remain legal base agreement remov rlb term popul size number bank branch bank employe austria eu averag bank basic main sourc profit net interest incom largest sourc incom profit servic transact commiss busi nutshel oversuppli weak demand credit austria bring pressur bear interest margin make slight increas net interest incom commiss incom enjoi dynam growth erst shakeout occur sporad slowli merger zentralsparkass länderbank merger girocentral österreichisch creditinstitut acquisit creditanstalt bank austria girocredit erst bank evid section footnot footnot recit ba seq seq seq austria distincti made singl tier segment case joint stock bank aktienbanken provinci mortgag bank land hypothekenbanken build societi bausparkassen specialis bank multi tier quot decentralis quot segment save bank sparkassen credit union volksbanken tier structur agricultur credit cooper raiffeisenbanken tier multi tier segment call quot bank group quot bankengruppen respect lead institut perform coordin function line busi carri multifari relationship mutual right oblig lead institut individu sector member govern bank act bankwesengesetz descript austrian bank market inter alia commiss decis comp hypovereinsbank bank austria recit comp bawag psk recit comp creditanstalt rzb jv recit market share mention section relat retail bank corpor bank lend deposit side obtain public version abovement decis annual report public publicli sourc term scope lombard network retail corpor bank cover essenti competit paramet market share give repres pictur market posit bank bank group concern refer decis quot ca quot read refer creditanstalt bankverein subsequ renam creditanstalt ag prior merger comp hypovereinsbank bank austria refer decis quot girocredit quot read refer girocredit bank aktiengesellschaft der sparkassen merger refer quot erst quot respect period octob read refer erst oesterreichisch spar cass bank respect period date refer erst bank der österreichischen sparkassen ag save bank group special link confer group structur austrian save bank hold share erst turn hold number save bank capac lead institut erst requir perform servic save bank affili result dens network mutual right oblig market share erst approxim tier compris legal independ local agricultur credit cooper engag busi retail bank corpor bank small medium size enterpris tier oper level austrian provinc region provinci agricultur credit cooper raiffeisen landesbanken rlb share held primari bank rlb engag retail bank corpor bank busi act clear hous primari bank suppli extens busi consult servic tier consist rzb share held rlb agricultur credit cooper legal independ entiti subject direct rlb rzb ow unit front present market region principl restrict competit relationship market share rzb approxim decemb psk share capit held bawag ksp unternehmensbeteiligungsgesellschaft mbh comp bawag psk bawag psk continu oper legal independ limit compani bank institut market share övag quot nö quot abbrevi niederösterreich provinc lower austria provinc lower austria nö hypo sole sharehold övag nö hypo continu oper limit compani bank institut provinci mortgag bank land hypothekenbanken nö hypo ordinari member associ austrian provinci mortgag bank verband der österreichischen land hypothekenbanken hereinaft call hypo verband rlb carri transact account limit extent refer quot rbw quot respect period registr read refer raiffeisenbank wien reg gen mbh definit retail bank deposit custom dispos sight deposit time gener consist low interest bear current payrol pension account save deposit cash deposit account unlik sight deposit serv invest purpos withdrawn product quot capit save booklet quot case quot variabl quot save deposit interest payabl alter credit institut light monei capit market develop quot fix interest quot save deposit agre durat interest rate quot preferenti rate quot offer deposit call quot bonu carri quot deposit charg fee levi maintain account enter amount account chequ transact atm card loan cover person loan includ build loan mortgag quot work council member loan quot austrian schill foreign currenc charg fee quot handl fee quot area payment transact transfer charg austria cross border secur transact custodi charg bui sell fee corpor bank subdivid bank bank categori compris interbank busi interbank charg domest cross border payment transact includ date rule letter credit feder financ bill discount collect charg bank correspond regard deposit retail bank case loan oper loan includ quot fix advanc quot quot cash advanc quot short term loan creditworthi corpor custom domest foreign currenc interest rate base monei market fix durat invest credit servic corpor bank sphere payment transact export financ quot hous bank margin quot quot hous bank margin commiss quot documentari busi secur issu word konditionen condit origin german version document cite decis quot interest rate quot quot rate quot translat sourc oenb document subsequ found inspect list drawn ba measur decid lombard club meet recit section sourc verbatim quotat cite footnot end paragraph deal relev meet articl bank act articl bank act agreement conclud articl bank act grubmayr die ausnehmungen der banken versicherungen und genossenschaften au dem kartellgesetz seq competit agreement base rate agreement remain forc end higher restrict practic court septemb oct current account charg wbl pp gugerbau die kartellrechtlich bankenbereichsausnahm im ewr österreichisch bank archiv seq eilmansberg ewg kartellrecht und banken griller ed banken im binnenmarkt seq profil septemb ba austria press agentur apa januari apa septemb salzburg nachrichten novemb recit seq seq seq seq seq seq seq seq seq seq orf quot journal zu gast quot programm quot press februari ba subhead ital intend assist reader legal signific recit seq seq rule rzb repres agricultur credit cooper group committe meet case vienna lend deposit rate committe meet role occasion perform rlb rbw recit seq cu stand credit union kei lend rate rate nation bank make central bank monei credit institut footnot footnot seq footnot footnot footnot footnot footnot footnot footnot footnot footnot footnot footnot footnot footnot footnot footnot footnot footnot footnot footnot footnot footnot footnot footnot recit seq footnot footnot footnot footnot footnot footnot footnot footnot footnot footnot footnot footnot footnot seq seq recit recit seq evid recit seq footnot refer end paragraph deal relev committe case find quot arab numer refer page number investig file interest rate paid nation bank purchas bill exchang secur matur period run date purchas date matur austrian nation bank discount rate exist januari replac base rate seq seq seq case amount ten million ca ba rzb bawag psk girocredit erst övag ca banken beteiligungsfond aktiengesellschaften bank austria wohnbaubank aktiengesellschaft wohnbaubank aktiengesellschaft hypo wohnbaubank aktiengesellschaft raiffeisen wohnbaubank aktiengesellschaft immo bank aktiengesellschaft bawag wohnbaubank aktiengesellschaft seq seq seq vienna interbank offer rate rate bank lend monei short term period month month vibor correspond monthli averag short term rate publish credit institut vienna replac januari euribor seq seq seq form attempt creditor appli pressur bank point favour offer bank seq seq seq apa august seq seq secondari market market secur circul stock exchang averag secondari market yield regularli calcul yield secur seq seq seq seq seq seq seq seq seq seq seq seq seq seq seq seq seq seq secur list vienna stock exchang offici deal regul unoffici deal includ arrang transact rule settl accord provis arrang order execut arrang transact ensur arrang secur deposit particip seq seq seq seq seq seq seq seq seq seq seq seq footnot seq seq seq seq seq seq seq seq seq seq interest rate short term monei market open market transact seq seq footnot seq record refer erron minilombard feder lend deposit rate committe februari meant recit seq seq seq seq seq seq seq seq seq seq seq seq document submit ba repres agre at million at million seq footnot nb basi point equal hundredth percentag point seq seq seq seq seq seq seq januari apa report raiffeisen bausparkass carri interest rate cut rate comparison sever criticis competitor bausparkass wüstenrot build societi quot agre publicis comparison save product raiffeisen broken agreement publish previou week open fresh competit polici build societi beat bank advertis rate comparison quot apa januari die press januari seq footnot bayerisch hypo und vereinsbank ag skwb schoellerbank aktiengesellschaft seq seq seq footnot seq seq seq seq seq seq footnot seq seq seq seq psk seq seq footnot seq seq vki verein für konsumenteninform ak arbeiterkamm die press novemb salzburg nachrichten novemb consid invit abn bank austria west lb time institut quot activ involv export financ quot undercut minimum margin agre bank recit problem solv talk directli bank concern west lb make quot definit promis quot stop undercut agre margin seq export financ system distinguish type liabil refer ti loan purchas receiv made nation bank liabil undertak footnot seq seq footnot evid file footnot footnot seq seq seq seq seq seq recit committe met burgenland carinthia klagenfurt villach lower austria stockerau wr neustadt hollabrunn st pölten upper austria linz steyr wel salzburg styria graz weiz bruck mur tyrol innsbruck vorarlberg bregenz name describ region cartel meet scope decis section focus function region committe context network link talk organis vienna footnot footnot footnot recit footnot footnot recit recit rzb repres pass result feder lend deposit rate committe talk bank wif bank kathrein amp bank ag seq seq seq erst rlb erst repres övag nö hypo oral hear januari except base rate competit agreement lost legal basi end section exampl section vienna feder lend deposit rate committe includ consum lend rate liber profess lend rate committe minilombard control committe report recit commiss obtain opinion economist report opinion number methodolog academ weak report report writer subsequ refut critic commiss account disput expert consider bank critic qualiti opinion increas consum lend rate januari cut save rate novemb decemb deposit rate talk expressli decid chang lend rate recit report recit recit rlb rzb bawag case ecr paragraph seq rzb oecd enhanc role competit regul bank daff clp crédit lyonnai commiss decis ec oj direct ec april oj banco di sicilia commiss decis ec novemb oj crédit lyonnai cite crédit foncier commiss decis ec june oj ba bawag report competit polici point case züchner ecr paragraph subsequ decis commiss expressli adopt posit interest rate agreement court justic confirm case van eyk ecr articl applic interest rate agreement bank press releas novemb ip oj essenti upheld court instanc case cb europai commiss ecr ii judgment court instanc deliv march case lögstör rör deutschland gmbh commiss ecr ii paragraph efta surveil author longer action matter articl agreement transit arrang period access efta state european union reproduc tichi dedichen secur smooth shift eea pillar cmlrev pp judgment court justic case andersson sweden ecr court judgment relat implement direct efta state access eu present instanc suggest commiss compet respect opinion advoc gener saggio case commiss austria assum austria oblig compli commun law time access eu case rhône poulenc commiss ecr ii paragraph join case cimenteri cbr commiss ecr ii paragraph case ici ommiss ecr paragraph establish case law join case suiker uni commiss ecr paragraph case hercul chemic nv sa commiss ecr ii paragraph join case limburgs vinyl maatschappij ecr ii paragraph join case cimenteri cbr commiss ecr ii paragraph case commiss anic partecipazioni ecr paragraph join case tate amp lyle commiss ecr ii paragraph join case krupp thyssen stainless commiss judgment deliv report paragraph case hfb commiss judgment deliv report paragraph join case limburgs vinyl maatschappij ecr ii paragraph case hfb commiss judgment deliv report paragraph join case limburgs vinyl maatschappij ecr ii paragraph section includ vienna feder lend deposit rate committe consum liber profess lend rate committe minilombard committe control committe evid document cite section rzb join case limburgs vinyl maatschappij ecr ii paragraph join case krupp thyssen stainless gmbh commiss judgment deliv report paragraph commiss decis novemb vitamin case paragraph footnot seq övag footnot footnot footnot footnot footnot footnot footnot footnot footnot recit footnot commiss decis ec june fenex paragraph oj paragraph seq case ferrier nord commiss ecr paragraph join case carlo bagnasco ecr paragraph case hugin commiss ecr paragraph join case van landewyck commiss ecr paragraph carlo bagnasco ibid paragraph case ferrier nord ommiss ecr ii paragraph case ferrier nord commiss cite paragraph seq case gøttrup klim ecr paragraph carlo bagnasco cite paragraph case vgb commiss ecr ii paragraph case hugin commiss cite paragraph case wouter judgment deliv ecr paragraph refer case law case commiss itali ecr paragraph effect appreci case type import export oper commun transact commun trader requir custom formal carri emphasi ad join case sck fnk commiss ecr ii paragraph market share deem suffici appreci effect erst joint submiss hear januari decis septemb case iv nederlands verenig van banken oj vgb cite paragraph case ke kelit kunststoffwerk gmbh commiss judgment court instanc deliv report paragraph case züchner ecr paragraph seq foreign transact involv intern invest fund increas disproportion austrian resid transfer small amount direct foreign fund receiv small amount direct debit result cost comparison feder republ germani distant giro transfer austrian giro system inform refer favour term distant giro transfer pass custom foreign nation purchas at billion worth austrian secur austrian nation purchas at billion worth foreign secur die press april export account gdp export eu countri footnot austrian capit market hand tradition plai subordin role rais capit concern footnot der standard april footnot recit exhaust section clear document bank wish replac unrestrict view quot destruct quot competit restrict word quot control quot quot reason quot quot disciplin quot quot eas quot quot limit quot quot moder quot quot orderli quot competit evid document refer section quotat document obtain major bank stick quot agre interest rate quot quot essenti stick agreement reach quot quot recommend rate quot bank quot essenti satisfi quot implement decis quot singl instanc quot agre quot minimum rate undercut quot quot cut agre meantim implement quot quot interest rate agre larg observ quot meant market present quot uniform rate pictur quot evid recit footnot rlb prior merger part committe mention join case krupp thyssen stainless gmbh commiss judgment deliv ecr ii paragraph case ke kelit kunststoffwerk gmbh commiss judgment deliv ecr ii paragraph case enichem anic spa commiss ecr ii case cascad sa commiss ecr paragraph join case krupp thyssen stainless gmbh commiss judgment deliv ecr ii paragraph refer case bpb industri plc british gypsum commiss ecr ii paragraph join case instituto chemioterapico italiano spa commerci solvent commiss ecr paragraph case stora commiss ecr paragraph case sca hold commiss ecr paragraph document cite recit view fact matter ba share manag compani anteilsverwaltungsgesellschaft anteilsverwaltung zentralsparkass wien avz regard parent compani relev time avz held includ undertak control ba vote capit vote capit girocredit document cite recit manag board minut file seq oj joint present lenienc notic hear januari judgment court instanc case mannesmannröhren werk commiss ecr ii paragraph refer mannesmannröhren werk cite paragraph bawag join case limburgs vinyl maatschappij nv ecr ii paragraph seq case volkswagen commiss ecr ii paragraph law administr practic unclear confus section written record hear case ferrier nord commiss cite paragraph case accinauto commiss ii paragraph join case tate amp lyle commiss ecr ii paragraph footnot order court justic case spo commiss paragraph case ferrier nord commiss cite paragraph irrelev respect practic issu aim market share quantiti restrict opinion advoc gener mischo case mo och domsjö commiss ecr paragraph argument join case krupp thyssen stainless commiss judgment deliv ecr ii paragraph recit recit seq case cascad commiss ecr paragraph bank view infring quot minor infring quot quot infring quot mean commiss guidelin method set fine impos pursuant articl regul guidelin oj written record hear recit paragraph seq market share commiss refer share market privat corpor custom busi lend deposit calcul basi figur public version commiss decis compani report public public sourc privat corpor busi bank main product market market share calcul give repres pictur market posit bank bank group concern provid basi divid categori section rbw case hfb commiss judgment deliv ecr ii paragraph case abb asea brown boveri commiss judgment deliv ecr ii paragraph bawag rlb recit seq vienna feder lend deposit rate committe includ consum lend rate liber profess committe minilombard control committe rzb övag conven vienna lend rate deposit rate committe bawag conven feder lend rate deposit rate committe case cascad commiss ecr ii paragraph seq section lenienc notic relev section commiss carri inspect section inspect provid suffici evid commiss decis juli graphit electrod oj recit join case limburgs vinyl maatschappij nv ecr ii paragraph seq join case krupp thyssen stainless commiss judgment deliv ecr ii paragraph case lögstör rör deutschland commiss judgment deliv ecr ii paragraph case ici commiss ecr ii paragraph commiss decis octob pre insul pipe cartel oj paragraph fact present decis maintain object put forward supplementari statement object respect account make joint exposit fact case mayr melnhof commiss ecr ii paragraph