Three banks under scrutiny over FX rate setting rules

Poland’s antitrust watchdog UOKiK has launched inquiry, regarding banks BZ WBK, Millennium and BGZ BNP Paribas FX rates setting rules, which UOKiK called “unclear.” “The provisions in question are both imprecise and discretionary in nature; for example, the currency exchange rate would be determined on the basis of the ‘average currency exchange rate on the…

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