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””
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.
Former UBS and Citigroup trader Tom Hayes was found guilty of conspiracy to manipulate the Libor benchmark. He joined a company run by former Black Cube operator Seth Freedman Intelligence agency.
