December 20, 2018 / 2:31 PM / in a month

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

The branch of Credit Agricole bank is seen in Warsaw, Poland, July 3, 2018. Picture taken July 3, 2018. REUTERS/Marcin Goclowski

PARIS (Reuters) - French bank Credit Agricole SA (CAGR.PA) 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.

EU antitrust regulators on Thursday charged four banks with taking part in a U.S. dollar supra-sovereign, sovereign, agency bond trading cartel over a seven-year period going up to 2015.

Deutsche Bank (DBKGn.DE) 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.

Reporting by Inti Landauro; Editing by Sudip Kar-Gupta

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