Article: BofA Hit Hardest as EU Fines Bond-Trading Trio $34 Million

Article - Media, Publications

BofA Hit Hardest as EU Fines Bond-Trading Trio $34 Million

Aoife White, 28 April 2021

Bank of America Corp. Credit Suisse Group AG and Credit Agricole SA were fined about 28.5 million euros ($34 million) by European Union regulators for colluding on trading of U.S. supra-sovereign, sovereign and agency bonds.

Bank of America got the largest individual penalty of 12.6 million euros, while Credit Suisse was fined 11.9 million euros and Credit Agricole was ordered to pay more than 3.9 million euros. Deutsche Bank AG participated in the cartel but dodged a potential penalty of about 21.5 million euros because it was the first to inform the EU about the illegal behavior. Continue reading “Article: BofA Hit Hardest as EU Fines Bond-Trading Trio $34 Million”

Article: EU Fines Trio of Banks $34 Million for Bond-Trading Cartel

Article - Media, Publications

EU Fines Trio of Banks $34 Million for Bond-Trading Cartel

Aoife White, 28 April 2021

Bank of America Corp., Credit Suisse Group AG and Credit Agricole SA were fined a total of about 28.5 million euros ($34 million) by European Union regulators for colluding on trading of U.S. supra-sovereign, sovereign and agency bonds.

Bank of America got the largest individual penalty of 12.6 million euros. Credit Suisse was fined 11.9 million euros and Credit Agricole was ordered to pay more than 3.9 million euros. Deutsche Bank AG participated in the cartel but wasn’t fined because it was the first to inform the EU about the illegal behavior. Continue reading “Article: EU Fines Trio of Banks $34 Million for Bond-Trading Cartel”