© Reuters. FILE PHOTO: European Union flags flutter outside the EU Commission headquarters in Brussels, Belgium May 5, 2021. REUTERS/Yves Herman/File Photo
By Yoruk Bahceli
LONDON (Reuters) – Ten banks have been excluded over past breaches of antitrust rules from European Union syndicated debt sales backing Brussels’ up to 800 billion euro ($969 billion) COVID-19 recovery fund.
Here’s what the move means for EU debt sales, bond markets and the affected banks:
WHICH BANKS ARE AFFECTED?
Banks from all corners of the world are affected: U.S. lenders JPMorgan Chase & Co (NYSE:)., Citigroup Inc (NYSE:). and Bank of America Corp (NYSE:). as well as British peers Barclays (LON:) Plc and NatWest Group Plc are on the list.
In continental Europe, Deutsche Bank AG (DE:), Natixis SA and Credit Agricole (PA:) SA and UniCredit SpA are affected. Plus Japan’s Nomura Holdings Inc.. All banks declined to comment.
All on the list of 39 primary dealers responsible for managing debt sales — syndicated and auctioned — for the bloc and managing its debt trading in the secondary…
