Politics

Credit Agricole says it is part of EU Commission bond cartel probe

Reuters

PARIS, Dec 20 () - French bank Credit Agricole SA said on Thursday it had received a document called a 'statement of objections' from the European Commission over an investigation into alleged price fixing on the trading of dollar-denominated bonds.

Credit Agricole, as well as its corporate and investment banking unit, received the documents from the European Commission, a bank spokeswoman said in e-mailed statement.

Credit Agricole and Credit Agricole CIB will review the documents and respond, added the statement.

Deutsche Bank said it has pro-actively cooperated with the European Commission's probe and added it does not expect a penalty.

The European Commission did not name the banks, which could face fines up to 10 percent of their global turnover if found guilty of breaching EU antitrust rules.


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Reuters

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