The European Commission has raided a number of banks across Europe in a probe into suspected fixing of interbank lending benchmark Euribor.
According to a report by Reuters, the EU said it had carried out searches on concerns that the companies involved may have broken antitrust rules.
It is the third major probe into banking this year after separate investigations into credit default swaps, the London interbank rate and cross-border bank payments.
Euribor is the rate at which European banks lend to each other. There are 44 contributors to the lending rate, many more than the London equivalent Libor, including Santander, BNP Paribas and UBS.
The Commission did not identify the companies or countries where it had carried out the raids.