Brussels, 11/12/2001 (Agence Europe) - The Commission has fined five German banks an overall EUR 100.8 million for having colluded in fixing the charges for the exchange of euro-zone currencies. Commerzbank, Dresdner Bank and Bayerische Hypo- und Vereinsbank are fined EUR 28 million each, Deutsche Verkehrsbank EUR 14 million and Vereins- und Westbank EUR 2.8 million. The decision is part of a broad inquiry begun by the Commission at the end of 1999 on the behaviour of banks from seven countries of the euro zone (Belgium, Portugal, Finland, Germany, the Netherlands, Ireland and Austria). Most of the banks have in the meantime reduced if not eliminated these charges and the Commission has been able to close the files in progress. Mr Monti recalled on this occasion that, although the banks are free to fix the level of this kind of commission, they cannot under any circumstances collude on rates.