Investment Banking

EU warns big investment banks in ‘bond cartel’ probe

European Commission investigates possible 'bond market cartel' in the market for government debt

Thursday 20 December 2018 at 13:31

EU warns big investment banks in ‘bond cartel’ probe
Photo: Getty Images

The European Commission is investigating whether a group of banks — including Deutsche Bank, Credit Suisse and Crédit Agricole — worked together to distort competition in the market for trading government bonds.

The Commission said in a statement on December 20 that it has told four banks they may have breached antitrust rules by sharing information on US dollar-denominated SSA bonds between 2009 and 2015.