Monaco Bank is a submarine volcano constructed along a NW-SE-trending fissure 20 km S of the western tip of Sao Miguel Island. The linear volcano is located along regional tectonic trends connecting Sete Cidades volcano with Santa María Island, SE of Monaco Bank. The summit rises to within about 200 m of the ocean surface. Submarine eruptions took place during 1911 and 1907, when a submarine cable was ruptured.