Monaco Bank is a submarine volcano of the coast of San Miguel Island in the Azores Islands and has erupted in 1907 and 1911.
The volcanoes of San Miguel Island and nearby waters based on van Padang and others (1967).
This Space Shuttle photo looks across the Island of Sao Miguel. The caldera of Sete Cidades is visible on the west end of the island (left side in photo). The caldera of Agua de Pau is visible near the center of the island. Space Shuttle photo STS41G-0034-0100.