The regulator's multi-year investigation, launched in late 2022, concluded that the institutions shared confidential and strategically sensitive firm quotations during the fixing procedure when they were legally required to remain completely independent.

This alleged coordination particularly impacted maturities with low transaction volumes, such as three-, six-, and 12-month rates, where benchmark outcomes heavily dictate interest calculations for consumer and corporate credits. 

The targeted credit institutions have fiercely rejected the findings, lambasting the authority for what they describe as a sudden shift from administrative precedent. 

Both BCR and state-owned CEC Bank noted that previous investigations into the exact same mechanism concluded that no anti-competitive rules were broken. 

The affected lenders have vowed to appeal the rulings before the Bucharest Court of Appeal once official reasoned notifications are served. 

Under regulatory protocol, the banks have 60 days from receiving the detailed decision to submit compliance action plans aimed at eliminating the contested practices.