Deutsche Bank, Credit Suisse Targeted by EU Bond Probe
- Four lenders get EU scrutiny over suspected agency-bond cartel
- Deutsche Bank doesn’t expect fines, Credit Suisse cooperating
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Deutsche Bank AG, Credit Suisse Group AG and Credit Agricole SA were targeted by a European Union probe into a suspected cartel for sovereign-bond trading.
The European Commission sent the banks antitrust complaints, saying they may have exchanged "commercially sensitive information and coordinated on prices" on trading of U.S. dollar supra-sovereign, sovereign and agency bonds via online chatrooms between 2009 and 2015.