EU excludes major banks from bond sales

European Union has excluded some of the biggest investment banks with past involvement in breaches of antitrust rules from syndicated debt sales

  
Euro currency bills are pictured at the Croatian National Bank in Zagreb, Croatia, May 21, 2019.

Euro currency bills are pictured at the Croatian National Bank in Zagreb, Croatia, May 21, 2019.

REUTERS/Antonio Bronic

AMSTERDAM- The European Union has excluded some of the biggest investment banks with past involvement in breaches of antitrust rules from syndicated debt sales backing its up to 800 billion euro ($969 billion) COVID-19 recovery fund, the EU executive said on Tuesday.

"The Commission will be undertaking a careful assessment of whether the primary dealers found guilty of breaching anti-trust rules have taken necessary remedial measures to terminate these practices and are ready to undertake to take steps to avoid their recurrence," the European Commission said in a statement to Reuters.

(Reporting by Yoruk Bachceli and Dhara Ranasinghe; Editing by Rachel Armstrong) ((Dhara.Ranasinghe@thomsonreuters.com; +442075422684;))


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