Evidence disclosed by the committee today also showed that the two banks engaged in deals with similar characteristics with other companies.

Universal banks, more commonly known as financial services companies, engage in several of these activities.

Second, banks might engage in a huge gamble on eurozone sovereign debt.

The bank also engages in a number of less volatile businesses, including money management and various operating services.

The bank, it said, "engaged in longstanding, massive and intentional patterns of fraud."

At the same time, the bank engaged in construction financing as the area experienced a real estate boom.

The bank engaged in cotton speculation and accumulated huge losses.

With a protected profit base at home, Japanese banks can engage in sharp competition abroad.

But the central bank engaged in money market operations at unchanged dealing rates.

The study concluded that banks were engaging in racial discrimination when making mortgage loans.