UBS and Credit Agricole have been deemed by regulators as less important to the global financial system than a year ago and will not have to hold as much extra capital as previously forecast.
A Retail bank leader in France and in Europe, Crédit Agricole is a first-class partner for the economies in which it operates.
Societe Generale posted third-quarter profit that missed estimates, hurt by an equities trading slump.
Credit Agricole’s complaint that European Union regulators showed bias in their rate-rigging probe is under investigation by the EU’s ombudsman.
Credit Agricole will probably reach an accord with U.S. officials in the next two months to settle a probe of the bank’s business in sanctioned countries including Iran, a person with knowledge of the matter said.
Credit Agricole said profit was almost wiped out in the second quarter on charges tied to its stake in bailed-out Banco Espirito Santo SA.
Commerzbank will probably be the next bank to resolve alleged U.S. sanctions violations, a person with knowledge of the matter said.
Credit Agricole, which refused to settle an antitrust probe over Euribor manipulation, accused European Union regulators of bias and said they should step down from the case, according to two people with knowledge of a letter the lender sent to the EU.
The European Commission has informed Crédit Agricole, HSBC and JPMorgan of its preliminary view that they may have breached EU antitrust rules by colluding to influence the pricing of interest rate derivatives denominated in the euro currency.
JPMorgan and HSBC are said to face a European Union complaint as soon as next month as the bloc’s antitrust chief races to fine a quartet of financial companies that snubbed rate-rigging settlements.
Crédit Agricole Corporate and Investment Bank has announced the appointment of Benoit Fosseprez as Head of Americas GIB (Global Investment Banking).
Three unrelated stories currently doing the rounds.
Crédit Agricole CIB has announced the final organisation of its management team.
Here's the list:
The Banker magazine has just released a list of the top banks by Tier One capital. Here's the top 30:
Bankers working on the sale of the bulk of Vivendi's stake in Activision Blizzard Inc to the video games maker and its management could earn advisory fees of up to $80m, according to an industry estimate.
Former employees of Houston bankrupt corporation Enron are not experiencing problems finding alternative employment.
The Guardian reports that money broker Tullett Prebon is claiming that BGC Partners earmarked over $65m, as the firm tried to poach a number of key staff from its rival. 13 traders eventually made the switch to BGC.
Vowing to hang on to a broad array of businesses.
This is getting very serious now.
Some you win....
Credit Agricole will pay as much as $800m to settle a U.S. probe into violations of sanctions against Iran and Sudan as soon as this week, according to two people briefed on the matter.
Credit Agricole is poised to pay as much as $1bn to U.S. regulators to settle allegations that it violated U.S. sanctions aimed at Iran and Sudan, according to a person briefed on the matter.
JPMorgan, HSBC and Credit Agricole will come face to face with the European Union antitrust officials who accused them of rigging the Euribor benchmark at hearings this week.