WRITTEN QUESTION E-3153/01 by Helena Torres Marques (PSE) to the Commission. Cost of transactions effected through the Multibanco network in Portugal.
Date: 2001-11-14
Institutions: European Parliament, Provisional data
Subjects: Portugal, bank, bank charges, cartel, competition law, financial institution, national law

20.6.2002

EN

Official Journal of the European Communities

C 147 E/117

(2002/C 147 E/121)

WRITTEN QUESTION E-3153/01

by Helena Torres Marques (PSE) to the Commission

(14 November 2001)

Subject: Cost of transactions effected through the Multibanco network in Portugal

1.
In Portugal, a company called SIBS (Sociedade Interbancária de Serviços), belonging to all the
Portuguese banks, has a monopoly on the provision of Multibanco services. Clients of the banks have
always been able to effect transactions through the Multibanco network free of charge.

2.
Until now banks have built up and expanded this network, encouraging their clients gradually to
stop using the banks as such, thereby significantly reducing personnel costs and making the clients
themselves responsible for carrying out any transactions they require.

3.
Since the announcement was made that the Commission was preparing a proposal for a regulation
on cross-border payments in euros, the banks have begun to make it clear that they intend to introduce
charges on any transactions carried out through the Multibanco network at national level.

4.
Given that all the banks work with SIBS, would the Commission not agree that people in Portugal
are now being made dependent on a banking cartel? What action will it take to ensure that this does not
actually happen?

Answer given by Mr Monti on behalf of the Commission

(7 January 2002)

The question concerns two subjects, the alleged existence of a banking cartel in Portugal, and the effects on
domestic banking charges of the draft Regulation on cross-border payments in euros (1).

Concerning the competition law aspects of the question, the Commission would first of all point out that
it is only competent to examine restrictions of competition which have an appreciable effect on trade
between Member States; In the absence of an appreciable effect in inter State trade, national competition
authorities are competent to examine alleged restrictions of competition under national competition law.

The Commission has no evidence in its possession as to whether or not there has been concertation or
collusion between banks in Portugal concerning prices charged to clients for banking services. However,
the Commission agrees that any possible agreement between banks on the prices charged to end
consumers would constitute a very serious restriction of competition.

Given the domestic nature of the activities in question within Portugal, it would seem that any possible
restrictions of competition which might exist are unlikely to effect trade between Member States to an
appreciable extent, and therefore that the Portuguese competition authorities, rather than the Commission,
would be competent to carry out any investigation that might be necessary. However, the Commission will
consult with the national competition authorities to see if they have any information which would justify
any possible investigation taking place at an EU level rather than a national level.

As to the possible effect on domestic banking charges of the draft Regulation on cross-border payments in
euros, the Commission considers that the risk that domestic charges will be increased by banks to
compensate for a fall
in charges for cross-border transfers is very small, given how few cross-border
transactions are carried out compared with domestic transactions. Moreover, banks should quickly put in
place the infrastructures which will enable them to make cross-border payments as efficient, inexpensive
and reliable as domestic payments. If some banks were tempted to increase their charges on domestic
transactions in reaction to the Regulation, the increased transparency and prior notification of changes to
charges provided for under the Regulation would enable customers to react.

(1) OJ C 270 E, 25.9.2001.