commiss decis decemb relat proceed articl ec treati case comp bank charg exchang euro zone currenc germani notifi document number german text authent ec commiss european commun regard treati establish european commun regard council regul februari regul implement articl treati amend regul ec articl thereof regard commiss decis august initi proceed case undertak associ undertak concern opportun make view object rais commiss pursuant articl regul commiss regul ec decemb hear parti proceed articl ec treati consult advisori committe restrict practic domin posit regard final report hear offic case introduct decis infring articl ec treati address undertak commerzbank ag dresdner bank ag bayerisch hypo und vereinsbank ag deutsch verkehrsbank ag verein und westbank ag bank particip meet octob deutsch verkehrsbank ag frankfurt main agre commiss bui sell euro zone banknot year transit period begin januari purpos recov quot exchang margin quot incom abolit quot spread quot bui sell rate januari relev product trade member state relev product market januari euro introduc european singl currenc twelv particip euro zone countri austria belgium finland franc germani ireland itali luxembourg portug spain netherland greec transit period januari decemb euro exist denomin nation currenc unit at bef luf dem esp fim frf iep itl nlg pte grd unit euro convers rate irrevoc fix januari relev product market defin servic exchang quot subunit quot euro part transact concern note coin quot currenc banknot quot servic bui sell foreign euro zone currenc offer bank bureaux de chang typic exampl exchang transact foreign currenc cash exchang debit credit account denomin euro nation currenc foreign currenc cash exchang nation currenc cash vice versa suppli substitut demand substitut partli cash exchang currenc limit exist tourism concern custom follow tour oper bank advic carri small amount cash debit credit card abroad categori custom small busi exchang larger amount currenc carri payment countri cross border bank bank transfer present viabl altern trade member state data volum note coin transact answer questionnair octob decemb bank euro zone recit sell bui volum note coin transact euro zone countri euro zone currenc shown annex amount shown underestim bank provid data transact volum bank euro zone questionnair questionnair systemat cover bureaux de chang oper transact volum busi includ data sell transact volum euro zone currenc eur billion transact volum attribut sell dem bui transact volum eur billion transact volum attribut bui dem total transact volum bui sell eur billion euro zone dem exchang bought sold currenc annex euro zone annex show consider exchang euro zone currenc member state market germani bank univers bank engag wide rang bank activ domin german bank system end bank branch univers bank classifi major group commerci bank kreditbanken group includ deutsch bank bayerisch hypo und vereinsbank dresdner bank commerzbank quot big quot save bank region giro institut sparkassen landesbanken group made save bank landesbank dgz dekabank deutsch kommunalbank cooper bank volk und raiffeisenbanken central institut zentralbanken sector consist local cooper bank central bank dg bank sgz bank wgz bank gzb bank addit univers bank wide rang specialis bank mortgag bank hypothekenbanken bank special function financi institut build societi bausparkassen currenc exchang transact volum survei sampl bank recit bank carri currenc exchang transact bank volum commun currenc bought sold currenc shown figur figur volum currenc bought sold germani gt pic file quot en tif quot gt currenc shown figur total note bought sold approxim eur billion sold bought bui sell at repres currenc bought sold itl frf esp nlg account descend order currenc repres eu note bought sold procedur request inform februari commiss address request inform articl regul german bank associ bundesverband deutscher banken deutscher sparkassen und giroverband zentral kreditausschuss associ ask provid minut record meet held associ question relat euro convers exchang currenc cost credit institut charg custom discuss request copi correspond exchang associ member circular address associ member respons associ enquiri member abovement question deutscher sparkassen und giroverband respond letter date march bundesverband deutscher banken zentral kreditausschuss respond letter date april juli commiss address request inform articl regul bundesverband deutscher banken clarif number meet devot charg foreign exchang transact bundesverband deutscher banken respond letter date juli march commiss address request inform articl regul bundesverband deutscher banken german bundesbank detail discuss recommend charg charg structur made germani specif charg minimum fee dem charg minimum fee dem letter date march bundesverband deutscher banken bundesbank repli knowledg discuss recommend charg charg structur februari octob inspect articl regul inspect carri februari locat germani deutsch bank ag frankfurt head offic dresdner bank ag frankfurt head offic articl regul inspect carri octob locat netherland gwk bank nv de grenswisselkantoren nv diemen survei bank charg exchang banknot letter date octob commiss articl regul questionnair bank euro zone provid data bank charg foreign exchang transact introduct euro addresse bank repres bank turnov euro zone questionnair request data bui sell refer rate quot offici quot rate currenc januari decemb charg charg structur januari request sell bui volum currenc transact carri questionnair date octob address bank germani includ addresse decis bayerisch hypo und vereinsbank ag commerzbank ag deutsch verkehrsbank ag dresdner bank ag statement object letter date august commiss statement object commerzbank ag deutsch verkehrsbank ag reisebank ag dresdner bank ag bayerisch hypo und vereinsbank ag verein und westbank ag bank repli statement object hear request parti hear offic inform parti decis extend deadlin respond statement object hereinaft call quot quot novemb novemb deutsch verkehrsbank ag reisebank ag request access countri specif file complet dutch file claim safeguard right defenc suspect dutch nation bank dnb plai lead role initi contact gwk bank german bank believ dutch file includ document prove dnb involv respons request hear offic examin dutch file case comp extract document refer germani countri cover letter date januari document addresse invit submit observ januari parti deutsch genossenschaftsbank ag request hear receiv invit hear schedul februari parti deutsch genossenschaftsbank ag attend hear hear parti present inform provid copi intern note intern market director gener contain short analysi approxim complaint receiv commiss depart intern market consum protect director gener commun consum relat bank charg payment mean servic introduct euro letter date februari hear offic abovement copi intern note intern market director gener parti request submit observ note hear march bank take opportun comment intern note argu reason complaint time custom identifi charg longer hidden differ bui rate sell rate dresdner bank ag state consum disappoint wrongli expect charg hear februari parti repeat request full access parallel countri specif file letter date august hear offic deni request request supplementari access parallel countri specif file deni descript event introduct euro madrid european council decemb adopt timet changeov euro madrid council establish start date stage econom monetari union hereinaft call quot emu quot januari period year date convers rate irrevoc fix currenc particip countri currenc euro januari year transit period euro exist quot virtual quot currenc euro zone countri nation banknot euro zone countri continu circul foreign exchang servic bui sell currenc requir period quot convers quot currenc carri irrevoc fix exchang rate rate februari latest euro banknot coin start circul alongsid nation note coin month nation currenc complet replac euro particip member state convers rate stipul council regul june provis relat introduct euro articl regul quot convers rate convers euro unit nation currenc unit quot prior introduct euro januari custom charg germani exchang euro zone foreign note coin hereinaft call quot exchang currenc banknot quot exclus spread irrevoc fix exchang rate januari meant abolit bui sell rate spread mean express charg exchang currenc banknot quot exchang rate risk quot cost element exist prior introduct euro result fluctuat exchang rate currenc disappear fix euro zone currenc exchang rate januari scenario adopt madrid council decemb provid basic framework changeov practic detail relat technic prepar move stage remain outstand commiss receiv written comment queri associ repres currenc user aspect changeov view address concern express associ advanc technic prepar commiss organis round tabl practic aspect changeov euro round tabl provid forum dialogu interest parti public privat address main set issu practic arrang smooth changeov euro help currenc user adjust euro main set issu round tabl discuss broad rang emu question question cost convers final changeov discuss subject concern convers nation currenc unit euro unit vice versa exchang particip member state banknot transit period particip argu chargeabl quot exchang rate risk disappear reduc cost cost remain quot round tabl commiss set expert group bank charg convers euro hereinaft call quot expert group quot parallel number group expert group compris expert drawn bank payment system enterpris consum organis met time brussel septemb novemb receiv written oral contribut wide rang market associ institut receiv assist commiss european monetari institut hereinaft call quot emi quot expert group term refer bank entitl charg convers euro intend rule commun level ensur transpar convers charg report novemb expert group defin quot convers quot relat process chang nation currenc particip member state euro convers refer arithmet calcul quot nation currenc unit euro unit vice versa report expressli state deal charg bank servic european bank feder gave evid expert group septemb meet chairman expert group ask feder draw list specif euro relat servic free subject charg countri letter date octob feder request emu committe provid inform give deadlin octob respons expert group conclud report novemb quot bank intend charg custom exchang euro area nation banknot transit period charg present exchang rate risk remov charg cover handl storag insur process cost opportun cost hold stock banknot risk accept counterfeit banknot quot report expert group conclud recommend thing quot encourag good practic relat convers charg group consid commiss recommend standard good practic bank convers charg standard advisori bind quot quot bank entitl charg convers decid convers rate irrevoc fix rate relat euro group recommend convers rate charg transpar includ standard good practic reduc risk consum attribut exist charg introduct euro group recommend standard implement bank advanc januari quot april commiss issu recommend bank charg convers euro recommend establish quot standard good practic quot convers charg convers oper legal requir charg convers oper order facilit smooth introduct euro articl bank legal requir make convers charg incom payment denomin euro unit nation currenc unit transit period commiss recommend bank convert charg compar outgo payment standard good practic includ exchang currenc banknot charg recommend restrict bank freedom independ defin charg individu bank commerci polici quot oblig quot recommend impos bank regard exchang banknot coin particip member state relat transpar quot bank show applic convers rate accord provis regul ec identifi separ convers rate charg kind appli quot articl recommend bank provid clear transpar inform exchang charg provid custom write gener prior ant inform specif post inform charg propos appli appli articl recommend provid bank inform custom januari extent implement recommend articl bank recommend publicis individu group intent implement recommend articl decemb commiss publish report entitl quot implement commiss recommend bank charg convers euro quot report set inform commiss receiv european bank associ intent member bank implement recommend juli commiss ask bank associ european bank feder european save bank group european associ cooper bank european mortgag feder report novemb extent member bank intend implement recommend associ assess evid publish annex report germani report note part quot complianc recommend particip member state central credit committe zka repres german credit sector agre respect provis recommend bundesverband deutscher banken consid member intend implement recommend case member bank eacb esbg germani inform custom germani bank issu great number public introduct euro ebf member bank explain content recommend letter brochur quot background germani gener present made hear februari legal econom background present westdeutsch landesbank seri meet place commerci bank bundesbank prior octob juli meet place commerci bank bundesbank frankfurt consequ introduct euro bui sell foreign banknot coin discuss meet juli bundesbank questionnair commerci bank bui sell banknot retail wholesal market questionnair ask data volum banknot exchang transpar charg transit phase consequ retail busi bundesbank offer free servic public consequ wholesal busi bundesbank offer free banknot repatri servic commerci bank respons bank treat confidenti bundesbank meet juli bundesbank questionnair juli commerci bank commerzbank ag deutsch verkehrsbank ag reisebank ag westdeutsch landesbank letter date juli bundesbank state view spread maintain inform technolog made time adapt give rise addit cost result higher charg custom quot central bank particip countri undertaken fix exchang rate exchang euro zone currenc free charg point view bundesbank region landeszentralbank interest take privat custom busi bank infrastructur purpos creat ow plan oblig bundesbank bui currenc free charg rush consum landeszentralbank inevit commerci bank cost reason refus bui currenc spread turnov forex busi bank branch germani amount dem billion turnov dem clear foreign correspond bank ad figur volum purchas custom repatri volum estim basi separ bundesbank questionnair practic implement measur discuss signatori heavili involv currenc exchang busi question charg current spread sell bui rate highli problemat result discuss particip principl reject chang result cost adapt make exchang banknot expens public higher charg consum understand introduct charg exchang rate fix central bank purchas currenc free charg import note made short notic survei euro busi partner shown foreign bank insist keep spread separ fix rate commiss retail busi keep margin interbank busi bank branch directli influenc branch sector sparkassen save bank genossenschaftsbanken cooper bank approach implement difficulti independ sparkassen genossenschaftsbanken accept charg custom fix rate commiss appli bui sell rate central institut reason signatori specialist currenc exchang busi advoc maintain sell bui rate stick test procedur avoid hitch run introduct euro quot juli august commerci bank repli abovement recit bundesbank questionnair follow inform ecofin council meet septemb luxembourg meet place septemb commerci bank bundesbank frankfurt meet provid clarif charg spread bui sell rate januari charg shown separ quot issu fee exchang fee address septemb landeszentralbank questionnair letter order determin commerci bank set fee exchang nation euro zone banknot practic spread exchang rate respect bundesbank state charg exchang spread longer solut fee quot fact april gwk bank bureaux de chang includ main railwai station border concern price implement germani bui sell currenc banknot disappear spread januari gwk bank contact similar institut germani reisebank ag bureaux de chang big railwai station border cross initi make awar german bundesbank network offic provid free servic public bui euro zone banknot transit period januari decemb consequ implement articl statut european system central bank hereinaft call quot escb statut quot pose threat reisebank ag main busi gwk bank bui sell dem gwk bank urg reisebank ag begin discuss german bank instanc ensur bundesbank provid free servic consum network offic discuss contact led meet deutsch verkehrsbank ag frankfurt octob price fix german bank place documentari evid infring found report meet telephon convers found inspect octob premis gwk bank diemen netherland meet gwk bank reisebank ag april april meet place frankfurt gwk bank reisebank ag minut meet gwk bank surpris reisebank ag lack inform expect market exchang euro zone banknot januari reisebank ag impress exchang margin fee structur exchang euro zone banknot maintain introduct euro cash quot minut april meet deutsch reisebank frankfurt euro problem date predomin feel discuss astonish part gwk deutsch reisebank lack date inform astonish part deutsch reisebank posit german bundesbank short term euro problem quot assumpt reisebank gentlemen reisebank ag felt prepar euro develop quot card sale quot product open bureaux de chang germani eastern border improv market share exchang market provid suffici compens face futur confid scenario reisebank ag assum euro problem aris expect cash exchang market januari juli current margin structur maintain current commiss structur maintain current network exchang locat remain unchang inform provid gwk bank reisebank ag meet caus surpris concern main point rais exchang margin disappear replac visibl charg nation central bank ncb influenc european monetari institut emi exert pressur commerci bank reduc bank charg januari dutch nation bank decid implement articl vi vi dutch commerci bank involv free servic repatri foreign euro zone banknot countri origin ncb free exchang servic gener public rumour german commerci bank prepar offer free servic exchang euro zone banknot januari point meet minut state quot inform pass gwk provid inform amount disbelief fear provid inform probabl margin structur disappear put pressur profit side netherland bank margin nil replac visibl commiss public opinion turn higher commiss dutch nation bank mr induc bank requir substanti reduc remuner exchang euro zone cash bank insist inform provid gwk slight improv dnb posit observ conclud central bank influenc emi exert similar pressur commerci bank polit pressur articl occas emi scale survei larg commerci bank gwk specialis includ dnb wish interpret articl narrowli european central bank oblig repatri charg excess euro zone currenc particip countri concern modifi exist infrastructur retail exchang busi relev period dnb posit inform gwk problem expect gwk larg bank explor possibl transform current margin commiss base remuner structur pure commiss base remuner begin avoid increas charg parallel highli mediatis introduct euro specif german bundesbank french italian central bank insist broad interpret articl public enjoi free servic rumour circul mr german commerci bank prepar offer public free cash exchang transact plan deutsch reisebank implement quot meet minut reisebank ag gave credenc gwk inform decid contact bundesbank commerci bank order focu attent issu relat exchang euro zone banknot januari quot deutsch reisebank reaction disbelief come threat palpabl partli presenc convict express view disbelief chang constern deutsch reisebank knowledg emi survei forward copi action deutsch reisebank contact bundesbank bank institut order draw attent germani problem connect convers cash euro agre inform develop quot meet minut note similar compani structur gwk bank reisebank ag overlap product packag bank made charg exchang cash transact quot inform deutsch reisebank approxim bureaux de chang railwai station approxim associ clear overlap product packag foreign exchang cash dispens western union card sale develop head offic emploi peopl deutsch reisebank parent compani outsourc autom central cashier current profit approxim exchang profit total profit introduct euro decreas clear figur base larg small euro charg levi commiss amount case gwk quot repli reisebank ag admit awar major forex busi involv currenc transit period bui sell rate exchang euro zone currenc abandon contact gwk bank reisebank ag week meet april gwk bank reisebank ag document fax date document copi complet quot questionnair commerci bank bureaux de chang quot submit central bank emi questionnair implement articl escb statut exchang par euro zone banknot questionnair emi ncb request inform annual volum banknot exchang busi mean banknot repatri bui sell volum euro zone currenc season variat exist spread commiss breakdown cost compon ncb select criteria chosen ncb emi questionnair sampl nation bank bureaux de chang questionnair includ section entitl quot invit make comment suggest exchang euro area banknot separ sheet paper quot aim maintain total incom januari gwk bank propos singl handl fee exchang euro zone currenc quot total incom normal euro area currenc exchang transact maintain servic public exchang circul euro zone currenc compens commiss incom normal euro zone currenc exchang transact nlg nlg total cost normal euro zone currenc exchang transact nlg decreas cost institut januari euro point view feasibl maintain commiss euro zone currenc propos handl fee normal discount euro zone currenc exchang transact figur low euro zone currenc low turnov euro zone currenc dem bef frf low turnov result addit interest loss higher back offic expens dutch nation bank append questionnair addit comment constitut copi comment obtain dnb quot document gwk bank reisebank ag detail supplementari comment gwk bank emi questionnair document explain maintain total exchang incom euro zone currenc take account loss exchang margin incom januari discount special group client increas commiss requir quot retail exchang transact incom percentag turnov lower exchang rate margin list exchang rate banknot commiss rate suggest gt tabl gt accept commiss rate januari social point view desir servic public exchang circul eu currenc maintain current level period januari juli result increas commiss charg compens loss margin gwk commiss charg equival ordinari exchang transact suffic discount special group client conduct larg transact includ coupon cash ensur total exchang incom entir eu currenc turnov result charg consum compar charg current averag exchang transact eu currenc exchang rate margin banknot commiss annex extens list figur gt tabl gt percentag low eu currenc low turnov eu currenc dem bef frf low turnov result greater loss interest higher back offic expens count storag transport transact cost euro point view feasibl maintain commiss individu eu currenc quot gwk bank reisebank ag confirm gwk bank mention document propos charg statement made respons emi questionnair emi dissemin result questionnair commiss note emi questionnair emi result questionnair address bank charg exchang euro zone banknot emi draft questionnair includ request inform annual volum banknot exchang busi mean banknot repatri bui sell volum euro zone currenc season variat exist spread commiss breakdown cost compon purpos gather inform implement commerci bank articl escb statut repatri free charg bank foreign euro zone banknot countri origin emi prepar report date april entitl quot exchang par euro area banknot assess result questionnair commerci bank quot report base answer questionnair receiv ncb bank bureaux de chang reflect situat emi questionnair cover member state respons receiv approxim commerci bank bureaux de chang emi page report aggreg data discuss bank charg exchang euro zone currenc report publish emi council agre releas assess result european bank feder european save bank group meet august reisebank ag deutsch verkehrsbank ag gwk bank landeszentralbank hessen august meet place frankfurt reisebank ag deutsch verkehrsbank ag landeszentralbank hessen gwk bank purpos meet clarifi situat exchang euro zone note coin transit period quot report talk reisebank landeszentralbank deutsch verkehrsbank gwk held august head offic reisebank ag frankfurt germani gt tabl gt open remark mr welcom meet point uncertainti regard foreign exchang market period januari juli reason meet clarifi situat introduct hand floor mr present capac reisebank ag expert euro quot legal repres reisebank ag made clear commerci bank allow charg exchang euro zone currenc transit period exchang margin bui sell rate ceas exist januari quot mr mr opinion member emi held point view commerci bank allow charg client handl exchang oper euro zone currenc chang circul euro zone currenc euro free charg custom half point commerci bank charg handl exchang transact form payment laid emi form fix commiss percentag commiss current exchang margin vari currenc currenc combin mr point mr januari chang euro zone currenc fact chang singl currenc form price differenti euro zone currenc straightforward matter mr price differenti case cost price demonstr signific differ cost price euro zone currenc present exchang margin structur preserv point euro zone currenc convert euro free charg januari juli januari gwk longer earn profit chang foreign euro zone currenc hitherto assum circul guilder convert euro free charg quot meet landeszentralbank hessen explain articl escb statut bundesbank oblig purchas foreign euro zone note coin bank public free charg bundesbank carri survei bank establish number transact expect recit quot landeszentralbank bundesbank wish interpret articl central bank oblig bui foreign euro zone currenc bank public free charg par free charg dutch central bank bank make alter invest present number fall branch landeszentralbank provid servic public establish transact expect bundesbank carri survei bank mr state bundesbank happi oblig articl quot inform bundesbank landeszentralbank offer free servic public widespread basi caus alarm gwk bank urg reisebank ag reach consensu german bank charg order avoid loss profit exchang euro zone currenc transit period quot follow action mr mr left remind deutsch verkehrsbank reisebank duti gather accur inform german exchang market quickli order alert bundesbank bank loss profit result provid exchang servic free charg bundesbank final decis consensu reach commerci bank charg servic bundesbank convinc imposs task avert threat reisebank mr react problem germani consensu bank expect mr make attempt reach consensu quot gwk bank alarm bundesbank offer free servic widespread basi german commerci bank follow suit low charg risk market exchang euro zone banknot shift netherland germani pressur dutch bank decreas charg quot conclus develop germani alarm bundesbank interven exchang market provid servic free charg easili knock effect level charg levi commerci bank institut close concern reisebank ag expect threat consider dutch exchang market public charg reason amount netherland risk exchang market shift netherland germani austria low charg commerci bank abroad pave fall charg netherland consider media emi easili decid opt bundesbank explan dnb forc introduc free exchang servic consensu reach dutch exchang market air develop gwk introduc quickli high exchang rate commiss order establish price balanc dutch market pressur emi dnb upset consensu reach quot telephon convers gwk bank deutsch verkehrsbank ag septemb telephon convers place mr gwk bank mr deutsch verkehrsbank ag septemb appar mr receiv report meet august want develop articl escb statut record telephon convers read quot record telephon convers deutsch verkehrsbank ag septemb gt tabl gt reason mr deutsch verkehrsbank ag obtain telephon number mr gt tabl gt mr evid receiv report meet netherland develop articl wai articl intern sphere quot commiss note deutsch verkehrsbank ag point view exchang margin bui sell rate replac commiss contrari letter juli commerzbank ag deutsch verkehrsbank ag westdeutsch landesbank reisebank ag landeszentralbank hessen argu favour bui sell rate maintain januari recit record telephon convers continu quot assess contrari letter mr mr landeszentralbank articl mr view exchang margin disappear germani replac commiss greatest concern consult place develop german bank commerzbank ag westdeutsch landesbank share thought problem german bank pull mr opinion impos board level quot record telephon convers note deutsch verkehrsbank ag made invit quot specif invit mr attempt commerzbank westdeutsch landesbank verkehrsbank reisebank landeszentralbank mr round tabl week octob solv problem specif want gwk repres meet assur theori attend meet mr quot meet deutsch verkehrsbank ag octob telefax date octob entitl quot consequ emu currenc busi quot mr deutsch verkehrsbank ag invit repres seb bank ag bfg bank ag commerzbank ag dresdner bank ag gwk bank hamburgisch landesbank landesbank hessen thüringen landeszentralbank hessen reisebank ag westdeutsch landesbank meet octob purpos meet discuss state plai measur meet place plan octob deutsch verkehrsbank ag frankfurt gwk bank minut meet entitl quot price euro currenc januari juli quot topic address includ bank charg exchang euro zone banknot transit period exchang margin bui sell rate maintain januari commiss exchang euro zone banknot calcul method convers euro zone currenc bui sell rate interbank wholesal banknot trade commiss note meet rapidli clarifi bank allow charg custom exchang euro zone banknot charg shown explicit transpar manner meet minut state quot record talk deutsch verkehrsbank octob price euro currenc januari juli open remark mr welcom meet bank present meet repres german retail exchang market mr summaris posit bundesbank emi price euro zone currenc period januari latest juli full agreement reach emi question retail exchang circul euro zone currenc point clear bank allow pass cost incur chang euro zone currenc public pass charg transpar manner quot commiss note meet quickli agre exchang margin bui sell rate disappear januari particip decid inform bundesbank carri exchang euro zone banknot fix exchang rate charg explicit commiss minut record quot oral commun mr read correspond bundesbank infer interest transpar current exchang margin abolish oral explan clear keep margin offset cost explicitli reject write view present look matter close loss exchang rate margin pass retail trade convict remark short discuss present convinc exchang rate margin euro zone currenc disappear monei chang commiss charg visibl conclus set protocol bundesbank point made exchang transact involv euro zone currenc carri fix price commiss ad mr share meet opinion absenc written instruct bundesbank mr hous adapt comput system charg structur problem bayerisch landesbank prepar replac margin commiss charg advanc gener dissatisfact lack clariti bundesbank written statement quot commiss note meet particip discuss exist system exchang margin currenc bui sell rate currenc transpos system exist exchang margin express explicit percentag commiss complet consensu reach singl percentag commiss charg currenc percentag commiss currenc particip decid report bundesbank bank decid bank set common target replac exchang margin percentag commiss recov exchang margin incom amount commiss minut mention quot differenti price euro zone currenc present price polici german exchang market bank meant austrian schill bought sold cheapli italian lira expens commerzbank mr felt price differ euro zone currenc allow remain argu current margin result market mechan price fix copi differenti charg structur point mr bayerisch landesbank differenti currenc justifi differ level exchang risk involv argument longer work januari euro zone currenc denomin euro mr ad market mechan influenc current margin polici polici result tacit agreement exchang rate emi survei quot mr state german bank system cost fall introduct circul euro show price fix exchang market caus price oligopoli polypoli replac current tacit differenti margin agreement tacit differenti commiss agreement lead major upheav loss profit mr full agreement absenc complet consensu meet singl commiss fee commiss fee currenc introduc report bundesbank bank present decid form futur charg structur bank present meet express intent replac present incom margin incom commiss fee level approxim bank amount global commiss approxim quot minut note bank discuss question quotat direct indirect rate exchang convert euro zone currenc context modifi exist comput system quot compulsori calcul rule emi state establish german mark amount guilder calcul method produc correct answer meant present calcul method comput system complet rework rate guilder german mark longer work rule appli present awar calcul rule consid consequ retail exchang oper mr point good idea belgian bank inform emi retail trade vast adapt comput system period year openli reject result calcul normal exchang transact show differ hasti note take part present impli problem board quot regard wholesal interbank trade banknot minut note particip agre maintain fix bui sell rate avoid comput system profession trader awar charg paid bui sell rate quot interbank trade interbank trade exchang margin currenc circul disappear trade circul currenc bank meet want retain current practic exchang margin system adapt year period problem bank euro zone need circul euro zone currenc mr landeszentralbank meet phone state assess bind legisl interbank trade circul currenc comment made bundesbank interbank trade circul currenc euro zone currenc bought sold fix bui sell price differ bui sell price commiss mr observ word chosen argument reject case retail trade reason accept case bank idea includ refer fact transpar profession trade increas parti involv awar margin paid chosen word quot meet minut deutsch bank ag free servic custom exchang euro zone banknot threat agre posit particip commiss fee achiev exchang margin incom recoveri free servic offer landeszentralbank quot deutsch bank spoil parti meet suggest deutsch bank spoil thing allow exchang oper ahead free charg commerci bank present meet consid threat provis servic free charg landeszentralbank equip undermin posit agre meet commiss fee approxim present incom mr point case creat situat view long time exchang activ carri firmer line polit reason exchang oper carri tariff withdraw exchang servic euro zone currenc quot meet minut record particip favour introduc charg system januari quot earli introduct bank aim introduct charg structur januari profit gener idea maintain exchang margin januari charg higher commiss felt inadvis januari profit fall sharpli pressur bundesbank emi deutsch bank media bank grab reduct turnov result introduc charg structur view undesir bank depend exchang product develop januari life threaten short time remain januari felt tight adapt system charg structur quot mr commerzbank ag wrote offici meet minut entitl quot meet banknot dealer quot minut fax octob deutsch verkehrsbank ag meet particip theme meet structur price set bui sell banknot transit period privat custom retail interbank wholesal bui sell banknot discuss regard retail busi minut note consensu fix exchang rate currenc bui sell rate charg fee calcul percentag commiss calcul method convert currenc decid bank individu quot meet banknot dealer frankfurt octob held deutsch verkehrsbank particip annex minut rate price forex busi phase januari januari emu consensu reach point privat custom busi privat custom fix exchang rate currenc charg fee calcul separ charg fee calcul percentag amount exchang decis calcul direct indirect rate exchang individu bank quot commiss note offici gwk bank minut meet correspond extent custom charg percentag form offici minut mention charg hear februari bayerisch landesbank state repres meet octob mr recal quot repres individu bank mention figur quot mr quot recal quot regard wholesal interbank banknot busi minut note bank agre maintain bui sell rate quot interbank trade interbank trade currenc trade bui sell price price result convers commiss quotat indirect rate exchang gener usag date quotat method toler reason bui sell quotat interbank trade usag set particip bank trade bui sell rate chang make distinct quotat euro zone currenc call currenc distinguish contract parti insid euro zone chang present usag appli limit time period meet need commerzbank frankfurt frankfurt octob annex quot legal assess articl ec treati articl ec treati prohibit incompat common market agreement undertak decis associ undertak concert practic affect trade member state object effect prevent restrict distort competit common market directli indirectli fix purchas sell price trade condit limit control product market technic develop invest share market sourc suppli agreement agreement exist parti adher common plan limit limit individu commerci conduct determin line mutual action abstent action market made write formal contractu sanction enforc measur requir fact agreement express implicit behaviour parti establish case law court justic european commun court instanc agreement mean articl ec treati parti express joint intent conduct market specif concept agreement mean articl ec treati interpret case law centr exist concurr will parti form manifest unimport long constitut faith express parti intent agreement purpos articl ec treati fall short certainti requir enforc commerci contract exact term express fact agreement infer circumst natur infring agreement bank particip meet octob deutsch verkehrsbank ag frankfurt agre implement global commiss bui sell euro zone banknot year transit period begin januari purpos recov exchang margin incom abolit spread januari meet octob particip discuss exist system exchang margin currenc bui sell rate currenc transpos system exist exchang margin express explicit percentag commiss complet consensu reach singl percentag commiss charg currenc differenti percentag commiss currenc particip decid report bundesbank recit quot bank present decid form futur charg structur quot agreement percentag commiss set purpos recov exchang margin incom mean averag commiss bui sell euro zone banknot recit quot bank present meet express intent replac present incom margin incom commiss fee level approxim bank amount global commiss approxim quot agreement refer meet octob bank concern agreement put jeopardi deutsch bank ag introduc free servic recit quot meet suggest deutsch bank spoil thing allow exchang oper ahead free charg commerci bank present meet consid threat provis servic free charg landeszentralbank equip undermin posit agre meet commiss fee approxim present incom quot mr commerzbank ag wrote offici meet minut entitl quot meet banknot dealer quot commiss note offici minut gwk bank minut meet correspond extent consensu fix exchang rate currenc bui sell rate januari charg fee calcul percentag commiss recit quot privat custom busi privat custom fix exchang rate currenc charg fee calcul separ charg fee calcul percentag amount exchang quot offici minut descript gwk bank minut mention specif figur bayerisch landesbank commerzbank acknowledg bank repres meet express idea futur charg ly hear februari bayerisch landesbank state repres meet octob mr recal quot repres individu bank mention figur quot mr quot recal quot background agreement octob earli gwk bank concern german bundesbank network offic provid free servic public bui sell banknot transit period januari decemb gwk bank concern free servic offer widespread basi bundesbank landeszentralbank german commerci bank follow low charg recit prospect alarm gwk bank larg part turnov exchang currenc dem risk market exchang euro zone banknot shift netherland germani pressur dutch bank decreas charg recit april gwk bank contact similar institut germani reisebank ag urg begin discuss german bank instanc ensur german bundesbank landeszentralbank provid free servic consum network offic recit discuss contact led meet place deutsch verkehrsbank ag frankfurt octob german bank agre inter alia implement charg bui sell euro zone banknot year transit period purpos recov exchang margin incom recit parti argument commiss repli argument parti relat interpret fact parti challeng commiss interpret fact deni discuss bank charg structur amount exchang currenc transit period amount quot agreement quot fall scope articl ec treati bank argu differ bui sell rate calcul percentag charg logic step particip meet octob agre express exchang margin visibl percentag commiss januari competit restrict agreement aros legal necess displai charg explicit transpar manner disappear spread landesbank hessen thüringen admit enter agreement charg structur transit period meet octob altern calcul charg percentag form agreement common charg structur margin influenc freedom bank determin price polici commiss repli transpar explicit displai charg requir standardis price charg structur servic concept bank sector bank independ decid commerci polici regard charg custom bank charg implement charg polici includ charg structur determin independ bank natur logic step bank individu transpos exchang margin percentag commiss deutsch bank initi free servic case issu econom ration charg structur agreement bank charg structur present case explicit agreement bank commiss aim achiev incom recoveri abolit spread januari argument parti effect agreement reach bank argu agreement percentag charg reach bank argu agreement recov incom figur cost mention calcul basi charg introduct euro commiss repli question aris credibl gwk bank meet minut octob offici minut gwk bank minut meet correspond extent consensu fix exchang rate currenc bui sell rate januari charg fee calcul percentag commiss westdeutsch landesbank note point alleg infring fix charg structur includ offici minut meet produc mr bayerisch landesbank commerzbank ag acknowledg bank repres meet express opinion futur charg ly commerzbank ag state particip meet mention incom recoveri lead charg averag commiss hear februari bayerisch landesbank state repres meet octob mr recal quot repres individu bank mention figur quot mr quot recal quot show gwk bank minut written dai meet credibl complet record octob meet commiss consid basi documentari evid bank particip meet octob agre introduc commiss achiev incom recoveri januari argument parti earli introduct bank argu fix charg made sens long period month introduct euro combin econom uncertainti aris time period bank argu fix charg independ late commiss repli argument prematur bank agre charg structur charg octob contradict bank letter commerci bank commerzbank ag deutsch verkehrsbank ag reisebank ag westdeutsch landesbank bundesbank juli state view exchang margin bui sell rate currenc maintain reason inform technolog made time januari recit quot question charg current spread sell bui rate highli problemat result discuss particip principl reject chang result cost adapt make exchang banknot expens public higher charg consum understand introduct charg exchang rate fix central bank purchas currenc free charg import note made short notic quot gwk bank meet minut octob mention time remain adapt inform technolog system charg structur short recit quot short time remain januari felt tight adapt system charg structur quot conclus drawn price fix agreement octob opportun time bank argument parti charg bank claim bank present meet octob appli charg rang bank appli charg commiss repli firstli note find exist content object agreement infring articl ec treati base specif documentari evid parallel price behaviour market agreement introduc commiss aim achiev incom recoveri expect bank ident percentag commiss agreement elimin substanti reduc uncertainti eventu conduct expect market regard bank charg bui sell currenc banknot bank admit charg discuss introduct euro parti introduc commiss recit restrict competit bank particip meet octob agre commiss aim achiev incom recoveri abolit spread januari agreement object effect restrict competit commun object agreement articl ec treati expressli mention restrict competit agreement undertak decis associ undertak directli indirectli fix purchas sell price trade condit present case direct fix price object agreement face disappear exchang margin bui sell rate incom januari object agreement conclud bank present meet octob fix particip bank commiss bui sell currenc banknot aim achiev incom recoveri abolit spread januari conclud agreement object harmonis bank futur price polici align price bui sell currenc banknot agreement conclud bank present meet octob caught articl ec treati directli fix charg exchang currenc banknot percentag commiss level charg form target price parti argument commiss repli argument parti interpret articl escb statut parti argu discuss held address consider regulatori uncertainti implement articl escb statut german bundesbank offer free forex servic public commiss repli german bundesbank discuss german commerci bank princip implement articl escb statut meet place juli commerci bank bundesbank consequ introduct euro exchang banknot discuss meet bundesbank juli questionnair commerci bank bui sell banknot retail wholesal market questionnair ask data volum banknot exchang transpar charg transit phase consequ retail busi bundesbank offer free servic public consequ wholesal busi bundesbank offer free banknot repatri servic commerci bank respons bank treat confidenti bundesbank consequ juli meet juli commerci bank commerzbank ag deutsch verkehrsbank ag reisebank ag westdeutsch landesbank letter bundesbank express view exchang margin bui sell rate currenc maintain part made time adapt give rise addit cost give rise higher charg meet place septemb commerci bank bundesbank clarifi charg exchang margin bui sell rate januari charg shown separ recit clear discuss bundesbank commerci bank concern applic articl abolit bui sell rate januari meet encompass collect discuss bank charg exchang euro zone banknot januari argument parti effect commiss initi discuss parti commiss initi discuss contact bank start point round tabl organis commiss deal practic aspect transit euro bank argu reason meet octob found regulatori uncertainti consequ initi european commiss discuss german bundesbank commiss repli commiss organis round tabl practic aspect changeov euro address concern express associ advanc technic prepar round tabl provid forum dialogu interest parti public privat address main set issu practic arrang smooth changeov euro wai help currenc user adjust euro expert group report novemb expressli state deal charg bank servic recit argument parti question admiss charg parti discuss held address question permiss commerci bank charg exchang banknot spread commiss repli earli exchang rate irrevoc fix fix rate explicitli state presid conclus madrid european council decemb scenario changeov singl currenc articl council regul ec directli applic law member state june state quot convers rate convers euro unit nation currenc unit quot recit direct consequ spread permiss charg explicitli transpar shown state document set term refer expert group bank charg convers euro final report expert group recit case prior meet octob meet place septemb commerci bank bundesbank clarifi charg exchang margin bui sell rate januari recit argument parti invit fax bank claim agenda attach invit fax meet octob focus question interbank trade price mention issu reason repres present meet depart deal bui sell note interbank trade depart privat custom depart decis make power set forex charg privat custom repres commiss repli offici minut meet produc mr record discuss place price privat custom busi interbank trade recit bank repres compet discuss price retail wholesal aspect banknot exchang busi commiss consid basi documentari evid bank particip meet octob agre introduc global commiss privat custom achiev incom recoveri januari regard comput system commerzbank ag repres explain hear retail wholesal inform technolog system interlink comput program mean price charg system retail wholesal busi prior adapt system privat custom offici minut year transit period begin januari parti agre quot charg fee calcul percentag amount exchang quot recit regard interbank trade parti opt bui sell rate implement agreement order conclud articl ec treati appli actual effect competit agreement establish agreement object restrict competit present case agreement bank global commiss aim achiev incom recoveri abolit spread januari commiss consid conclud agreement directli fix level charg demonstr effect gt tabl gt gt tabl gt gt tabl gt effect trade member state currenc exchang infring issu concern servic cross border natur reason affect trade member state shown larg volum euro zone currenc exchang member state recit sell bui foreign currenc euro zone oper essenti consum tourist commun commun make payment euro zone payment made consum currenc countri origin constitut transact affect intra commun trade note consum bui foreign currenc home countri bank sell currenc import bank note hand consum bui currenc countri destin foreign cash sell bank export repatri foreign cash countri origin bank euro zone perfect balanc time volum foreign currenc bought sold public import export euro zone currenc bank commerci oper directli affect intra commun trade parti argument commiss repli argument parti effect trade member state hear bank argu german case pure nation case effect trade member state exchang foreign currenc local servic provid nation market present meet octob gwk bank activ german market german bank activ dutch market commiss repli court justic consist held 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 prejudic realis aim singl market member state court held effect intra commun trade result combin factor separ necessarili decis settl case law establish agreement capabl effect trade member state commiss statement object present decis recit factor account conclud agreement effect trade member state case law court justic commiss hold case effect trade combin factor show effect trade present case attent paid special natur servic product concern note servic cross border natur stem fact product concern currenc commun member state exchang larg volum member state argument parti lack market definit bank claim commiss fail defin geograph market made incorrect assess effect trade commiss repli commiss contend definit geograph market decis case due fact documentari evid prove parti commit infring object effect restrict competit infring natur liabl affect trade member state conclus line court instanc rule european night servic volkswagen ag court held oblig commiss defin market decis appli articl articl ec treati imposs definit determin agreement decis associ undertak concert practic issu liabl affect trade member state object effect prevent restrict distort competit common market fact agreement charg exchang currenc concern germani dutch region border germani preclud effect trade member state court justic rule number case behaviour restrict competit extend territori member state natur effect reinforc compartmentalis market nation basi hold econom interpenetr treati design bring relev product defin servic exchang currenc part transact concern note bank bui sell banknot intern wholesal market direct consequ nation demand foreign currenc court justic held sticht sigarettenindustri agreement conclud undertak establish member state cover market state affect trade member state concern partli product import member state addresse decis establish fact commerzbank ag dresdner bank ag directli particip infring question addresse aris relat bayerisch hypo und vereinsbank ag verein und westbank ag deutsch genossenschaftsbank deutsch verkehrsbank ag reisebank ag time meet octob major sharehold verein und westbank ag bayerisch vereinsbank ag bayerisch vereinsbank ag bayerisch hypotheken und wechselbank ag merg septemb form bayerisch hypo und vereinsbank ag merger made bayerisch hypo und vereinsbank ag major sharehold verein und westbank ag bayerisch hypo und vereinsbank ag biggest bank group germani consid quot bank region quot verein und westbank ag individu ident quot bank region northern germani quot invit fax incrimin meet octob bayerisch vereinsbank ag employe bayerisch vereinsbank ag particip meet recipi invit fax meet octob bayerisch vereinsbank ag show superior decid particip fax recipi pass invit colleagu verein und westbank ag opinion contrast superior obtain inform meet verein und westbank ag invit meet nonetheless employe particip repres bayerisch vereinsbank ag result verein und westbank ag bayerisch vereinsbank ag repres meet octob employe verein und westbank ag repli bayerisch hypo und vereinsbank ag verein und westbank ag state verein und westbank ag bound polici bayerisch hypo und vereinsbank ag fix charg exchang euro zone bank note show bank oper independ market bayerisch hypo und vereinsbank ag influenc verein und westbank ag decis charg light decis address verein und westbank ag bayerisch hypo und vereinsbank ag legal successor bayerisch vereinsbank ag deutsch genossenschaftsbank ag sharehold deutsch verkehrsbank ag deutsch verkehrsbank ag own share reisebank ag member manag board deutsch verkehrsbank ag sole member supervisori board reisebank ag reisebank ag compani deutsch genossenschaftsbank ag group activ exclus retail forex busi deutsch verkehrsbank ag time exercis decis influenc subsidiari particip meet discuss bank recit deutsch verkehrsbank ag time fulli inform awar discuss bank charg exchang euro zone banknot case law court justic decis criterion decid articl ec treati appli parent compani subsidiari subsidiari determin market behaviour independ parent compani present case reisebank ag enjoi real autonomi determin action vi vi deutsch verkehrsbank ag reisebank capabl infring articl ec treati independ deutsch verkehrsbank light decis address deutsch verkehrsbank ag parent compani reisebank ag durat infring commerzbank ag dresdner bank ag deutsch verkehrsbank ag bayerisch hypo und vereinsbank ag verein und westbank ag conclud agreement infring articl ec treati octob agreement conclud durat quot transit quot period januari decemb light durat infring establish addresse decis octob present time remedi articl regul commiss find infring articl ec treati requir undertak concern bring infring end accord articl council regul present case agreement object fix charg exchang currenc banknot percentag commiss target price level achiev exchang margin incom recoveri conclud futur year period begin januari end decemb commiss requir undertak present decis address henceforth refrain agreement concert practic decis associ similar object effect agreement subject decis articl regul gener consider articl council regul commiss decis impos undertak associ undertak fine thousand million euro sum excess thereof exceed turnov preced busi year undertak associ undertak particip infring intention neglig infring articl ec treati fix amount fine commiss regard relev circumst graviti durat infring criteria explicitli refer articl regul commiss methodolog explain guidelin januari method set fine impos pursuant articl regul hereinaft call quot guidelin fine quot role plai undertak parti infring assess individu basi commiss reflect fine impos aggrav attenu circumst appli notic imposit reduct fine cartel case hereinaft call quot lenienc notic quot basic amount fine order determin amount fine commiss calcul basic amount increas account aggrav circumst reduc account attenu circumst basic amount determin graviti durat infring graviti assess graviti infring commiss take account natur actual impact market measur size relev geograph market case agreement object fix charg exchang currenc banknot percentag commiss level charg form target price achiev exchang margin incom recoveri exchang currenc banknot articl ec treati expressli prohibit direct indirect fix price trade condit natur infring violat articl ec treati agreement implement commerzbank ag dresdner bank ag bayerisch hypo und vereinsbank ag verein und westbank ag deutsch verkehrsbank ag recit infring produc effect limit part common market germani agreement cover countri dutch region border germani infring natur violat articl ec treati limit effect germani dutch region border germani commiss balanc conclud agreement concern fall categori infring commun competit rule categori infring propos scale fine make appli differenti treatment undertak order account effect econom capac offend signific damag competit set fine level ensur suffici deterr effect exercis present case consider dispar size undertak particip infring purpos undertak concern principl divid categori size rel import relev market comparison made basi incom inform busi year audit result categori fall commerzbank ag dresdner bank ag bayerisch hypo und vereinsbank ag deutsch verkehrsbank ag verein und westbank ag fall categori gt tabl gt order ensur fine suffici deterr effect commiss determin adjust start point need undertak case commerzbank ag dresdner bank ag bayerisch hypo und vereinsbank ag commiss consid start point fine result criterion rel import relev market requir upward adjust account size resourc basi forego commiss consid case commerzbank ag dresdner bank ag bayerisch hypo und vereinsbank ag deterr requir start point fine determin recit increas eur million eur million durat mention earlier commiss consid durat infring articl ec treati addresse decis octob present time recit start amount fine determin graviti recit increas undertak gt tabl gt individu fine set fine compani commiss oblig assess aggrav attenu circumst individu basi appli lenienc notic present case aggrav attenu circumst amount fine impos present proceed gt tabl gt adopt decis articl commerzbank ag dresdner bank ag bayerisch hypo und vereinsbank ag deutsch verkehrsbank ag verein und westbank ag infring articl ec treati particip agreement object fix charg exchang currenc banknot percentag commiss target price level achiev exchang margin incom recoveri transit period begin januari articl undertak name articl put end infring henceforward refrain relat activ agreement concert practic similar object effect infring articl gt tabl gt articl fine impos articl paid month date notif decis account account code iban code swift bbvabebb european commiss banco bilbao vizcaya argentaria bbva sa avenu de art kunstlaan brussel expiri period interest payabl interest rate appli european central bank main refinanc oper work dai month decis adopt percentag point articl decis address commerzbank ag kaiserplatz frankfurt main dresdner bank ag jürgen ponto platz frankfurt main bayerisch hypo und vereinsbank ag tucherpark münchen deutsch verkehrsbank ag friedrich ebert anlag frankfurt main verein und westbank ag alter wall hamburg decis enforc pursuant articl ec treati brussel decemb commiss mario monti member commiss confidenti inform delet replac squar bracket mark asterisk oj oj oj greec join euro zone countri januari preambl commiss recommend april bank bui foreign currenc note coin bureaux de chang bui foreign currenc coin higher rate note westdeutsch landesbank german bundesbank statist give total note coin bought sold german bank eur billion currenc repres total currenc bought sold eur billion eur billion survei westdeutsch landesbank repli statement object file gwk bank specialis exchang foreign currenc banknot bureaux de chang includ main railwai station border april view termin proceed bank propos gener public consider reduct june onward charg substanti reduct charg octob onward account holder basi market exchang currenc disappear end year propos measur produc benefici effect consum facilit changeov euro commiss decid except circumst present case termin proceed bayerisch landesbank girozentral seb bank ag bfg bank ag hamburgisch landesbank girozentral westdeutsch landesbank girozentral landesbank hessen thüringen girozentral gwk bank de grenswisselkantoren nv parent compani forti nv forti servic nederland nv forti bank nederland nv deutsch verkehrsbank ag state repli reisebank ag activ retail forex market reisebank ag repli refer total deutsch verkehrsbank ag pp seq file pp seq case presid conclus madrid european council decemb scenario changeov singl currenc http europa eu int euro oj bui sell note coin public spread determin respect market refer rate present case bui sell rate defin rate bank appli bui sell custom mean bui rate lower refer rate sell rate higher depend bui sell transact carri spread differ refer rate bui rate differ sell rate refer rate currenc exchang spread respect refer rate percentag rang foreign exchang trade spread simpli differ bid bui offer sell rate spread vari size market volatil spread small quot hundredth percent percentag commiss currenc unit call quot pip quot quot round tabl practic aspect changeov euro summari conclus brussel quot http europa eu int comm intern market en financ bank expert htm quot report expert group bank charg convers euro quot european commiss brussel novemb legal term convers term practic purpos unknown phenomenon quot convers quot common similar sound legal concept quot convert quot quot currenc exchang quot nation currenc unit descript albeit transit currenc quot euro quot sum monei legal ident temporarili express nearest legal analog situat unit unit nation currenc pfennig equal dem book entri carri subject learn legal expertis inspir search technic conveni quot report expert group bank charg convers euro quot annex legal aspect charg convers paragraph quot convers quot report expert group bank charg convers euro european commiss brussel novemb ec oj quot convers quot mean recommend chang denomin monetari amount nation currenc unit euro unit vice versa convers rate accord provis regul ec document publicli internet http europa eu int comm dg intern market annex includ repli westdeutsch landesbank file repli westdeutsch landesbank file quot auswirkungen der ewwu auf da sortengeschäft quot letter interessengemeinschaft sortenhandel deutsch verkehrsbank ag landeszentralbank hessen juli sign commerzbank ag deutsch verkehrsbank ag reisebank ag westdeutsch landesbank copi deutsch bundesbank bundesverband deutscher banken bundesverband der deutschen volksbanken und raiffeisenbanken deutscher sparkassen und giroverband file pp seq repli westdeutsch landesbank file quot zusammenfassung der gespräch vom april mit der deutschen reisebank frankfurt über die euro problematik quot present mr reisebank ag mr reisebank ag mr gwk mr gwk cc gwk gwk gwk memo hb orig date file pp seq document found gwk refer reisebank ag deutsch reisebank repli reisebank ag pp seq file pp seq fax pp gwk reisebank ag fax file pp seq document found inspect gwk quot questionnair commerci bank bureaux de chang quot date januari nvdn hb orig file pp seq quot supplementari comment questionnair novemb euro drawn european monetari institut emi quot date januari nvdn orig file pp seq repli forti group file mail european central bank dg competit relat request copi report quot exchang par euro area banknot assess result questionnair commerci bank quot quot gesprächszusammenfassung reisebank landeszentralbank deutsch verkehr bank gwk vom august hauptsitz der reisebank ag frankfurt main quot present reisebank ag reisebank ag reisebank ag deutsch verkehrsbank ag landeszentralbank cc member board memo hb orig file pp seq quot zusammenfassung de telefongespräch mit der deutschen verkehrsbank ag vom septemb quot deutsch verkehrsbank ag gwk cc gwk memo hb orig septemb file pp seq fax entitl quot auswirkungen der ewwu auf da sortengeschäft quot octob mr deutsch verkehrsbank ag bfg bank ag commerzbank ag dresdner bank ag gwk hamburgisch landesbank landesbank hessen thüringen landeszentralbank hessen reisebank ag westdeutsch landesbank file bayerisch vereinsbank ag receiv separ written invit octob repli bayerisch hypo und vereinsbank ag verein und westbank ag file quot zusammenfassung der gespräch bei der deutschen verkehrsbank oktob betreffend preisgestaltung bei teilnehmerwährungen vom januar bi juli quot present bayerisch landesbank verein und westbank ag dfg bank ag type error read bfg bank ag commerzbank ag deutsch verkehrsbank ag deutsch verkehrsbank ag dresdner bank ag hamburgisch landesbank landesbank hessen thüringen westdeutsch landesbank gwk gwk cc gwk nvdn orig file pp seq articl regul ec state quot monetari amount convert nation currenc unit convert monetari amount express euro unit amount round decim convert nation currenc unit altern method calcul produc result quot quot sortenhändlertreffen frankfurt oktob im haus der deutschen verkehrsbank quot octob commerzbank ag file fax quot übersendung de ergebnisprotokol zum sortenhändlertreffen okt quot deutsch verkehrsbank ag bayerisch landesbank bfg bank ag commerzbank ag dresdner bank ag gwk bank hamburgisch landesbank landesbank hessen thüringen lzb hessen reisebank ag verein und westbank ag westdeutsch landesbank file pp seq case acf chemiefarma commiss ecr paragraph join case van landewyck commiss ecr paragraph case hercul chemic commiss ecr ii paragraph case rhône poulenc commiss ecr ii paragraph case bayer ag commiss ecr ii paragraph prior introduct euro bank explicit charg exchang foreign banknot custom pai hidden bank charg bui sell rate foreign currenc spread exchang margin exchang margin rang commiss depend currenc exchang repli bayerisch landesbank file commerzbank ag file bayerisch hypo und vereinsbank ag verein und westbank ag file westdeutsch landesbank file hamburgisch landesbank mention percentag charg rang file repli bfg bank ag pp seq file pp seq commerzbank ag file bayerisch hypo und vereinsbank ag verein und westbank ag file westdeutsch landesbank file repli westdeutsch landesbank pp seq file pp seq repli landesbank hessen thüringen file bayerisch hypo und vereinsbank ag verein und westbank ag file claim viabl altern percentag charg fix fee chang small amount discrimin small consum repli bfg bank ag pp seq file pp seq commerzbank ag file reisebank ag file bayerisch hypo und vereinsbank ag verein und westbank ag file westdeutsch landesbank file repli bayerisch landesbank file bfg bank ag pp seq file commerzbank ag pp seq file pp seq reisebank ag pp seq file pp seq landesbank hessen thüringen pp seq file pp seq bayerisch hypo und vereinsbank ag verein und westbank ag file westdeutsch landesbank pp seq file forti group file westdeutsch landesbank repli file repli bayerisch landesbank file commerzbank ag file bayerisch hypo und vereinsbank ag verein und westbank ag file westdeutsch landesbank file hamburgisch landesbank mention percentag charg rang file repli dresdner bank ag file westdeutsch landesbank file repli bayerisch landesbank pp seq file pp seq bfg bank ag file commerzbank ag pp seq file pp seq dresdner bank ag file hamburgisch landesbank pp seq file pp seq landesbank hessen thüringen pp seq file pp seq bayerisch hypo und vereinsbank ag verein und westbank ag pp seq file pp seq westdeutsch landesbank pp seq file pp seq repli bayerisch landesbank file bfg bank ag file commerzbank ag file deutsch verkehrsbank ag reisebank ag file dresdner bank ag file bayerisch hypo und vereinsbank ag verein und westbank ag pp seq file pp seq westdeutsch landesbank pp file pp repli westdeutsch landesbank pp seq file pp seq paragraph quot convers quot report expert group bank charg convers euro european commiss brussel repli commerzbank ag file annex file bfg bank ag file hamburgisch landesbank file repli bayerisch landesbank file bfg bank ag file dresdner bank ag file landesbank hessen thüringen file bayerisch hypo und vereinsbank ag verein und westbank ag file present dr satzki behalf bank hear case société techniqu minièr ecr paragraph case remia commiss ecr paragraph case gottrup klim ecr paragraph case ferrier nord spa commiss ecr paragraph join case european night servic commiss ecr ii paragraph case volkswagen commiss ecr ii paragraph inter alia case vereenig van cementhandelaren commiss ecr paragraph case spo commiss ecr ii paragraph join case sticht sigarettenindustri commiss ecr paragraph repli bayerisch hypo und vereinsbank ag verein und westbank ag file bank claim verein und westbank ag invit meet octob employe repres bayerisch vereinsbank ag repli bayerisch hypo und vereinsbank ag verein und westbank ag pp seq file pp seq state recipi invit fax meet octob bayerisch vereinsbank ag show superior decid particip fax recipi pass invit colleagu verein westbank ag opinion contrast superior obtain inform meet repli bayerisch hypo und vereinsbank ag verein und westbank ag file reisebank ag repli pp seq file pp seq repli dg bank state activ forex busi file lead case determin articl appli parent subsidiari compani independ member cartel case viho commiss ecr ii paragraph confirm court justic case viho commiss ecr state articl articl appli relationship subsidiari parent compani form econom unit subsidiari separ legal person freeli determin conduct market carri instruct directli indirectli parent compani wholli control paragraph judgment case read parker subsidiari form singl econom unit subsidiari enjoi real autonomi determin action market carri instruct issu parent compani control judgment case stora commiss ecr read paragraph rememb court justic held occas fact subsidiari separ legal person suffici exclud possibl conduct imput parent compani subsidiari independ decid conduct market carri materi respect instruct parent compani inter alia case ici commiss ecr paragraph case geigi commiss ecr paragraph case europemballag continent commiss ecr paragraph oj oj oj annex gt pic file quot en tif quot gt gt pic file quot en tif quot gt bui sell volum euro zone countri eu currenc eur note scale netherland spain euro zone