Article: EU bond sales run by four banks previously suspended for antitrust

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EU bond sales run by four banks previously suspended for antitrust

ishwarkimmins, 29 June 2021

As Brussels sold its new five- and thirty-year debt, four banks that had previously suspended EU bond sales were selected to manage Block’s latest trading on Tuesday.

JP Morgan, Crédit Agricole, Deutsche Bank and UniCredit were banned from participating in the first € 20 billion debt sale to fund the EU’s € 800 billion recovery fund earlier this month due to past antitrust violations. It was one of only 10 lines. Continue reading “Article: EU bond sales run by four banks previously suspended for antitrust”

Article: The EU clears banks that ban bond transactions after the “declaration of honor”

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The EU clears banks that ban bond transactions after the “declaration of honor”

Agnes Zang , 18 June 2021

The previous eight banks Banned After promising “integrity” and providing evidence of “remedial measures” after historical violations of antitrust rules, the bond sales of the EU’s 800 billion euro recovery fund have been approved to process future transactions.

Earlier this week, the European Union launched the largest lending boom in its history, issuing 20 billion euros of bonds, but due to previous scandals involving market manipulation, 10 banks were unable to participate in the transaction. The European Commission stated that eight of the lenders are now free to deal with future bond syndicates under the plan. Continue reading “Article: The EU clears banks that ban bond transactions after the “declaration of honor””

Article: EU freezes bond sales of 10 banks for violating antitrust laws

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EU freezes bond sales of 10 banks for violating antitrust laws

Agnes Zang, 15 June 2021

As part of its 800 billion euro recovery fund, the European Union has excluded the 10 most hit banks in the debt market from lucrative bond sales because they have historically violated antitrust rules.

Brussels’ The biggest lending frenzy ever Beginning on Tuesday, a new 10-year bond will be sold to fund the NextGenerationEU program under a so-called syndicate and pay a group of banks to attract investor demand. Continue reading “Article: EU freezes bond sales of 10 banks for violating antitrust laws”

Article: UPDATE 1-European stocks retreat from record highs, Deutsche Bank drags

Article - Media, Publications

UPDATE 1-European stocks retreat from record highs, Deutsche Bank drags

Sruthi Shankar, 31 May 2021

European stocks slipped from record highs on Monday in subdued trading due to holidays in major markets, but optimism over a swift economic recovery put the benchmark index on course for its fourth month of gains.

The pan-European STOXX 600 index was down 0.1% in morning trade, with shares in Frankfurt falling 0.3% and Paris dipping 0.1%. UK and US markets are closed for a holiday, keeping trading volumes muted across the board.

Among the top drags was Deutsche Bank, down 1.8% after the Wall Street Journal reported that the U.S. Federal Reserve told the German lender it was failing to address persistent shortcomings in its anti-money-laundering controls. Continue reading “Article: UPDATE 1-European stocks retreat from record highs, Deutsche Bank drags”