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Image header Agence Europe
Europe Daily Bulletin No. 12723
Contents Publication in full By article 12 / 39
ECONOMY - FINANCE - BUSINESS / Competition

Banks fined €371 million for cartel in European government bond trading

The European Commission found on Thursday 20 May that Bank of America, Natixis, Nomura, RBS (now NatWest), UBS, UniCredit and WestLB (now Portigon) had breached EU antitrust rules through the participation of a group of traders in a cartel in the primary and secondary market for European Government Bonds (‘EGB’).

Nomura (€129.5 million), UBS (€172.4 million) and UniCredit (€69.4 million) were fined. NatWest escapes this, as it revealed the cartel. Bank of America and Natixis...

Contents

EU RESPONSE TO COVID-19
HOME AFFAIRS: European Parliament and EU Council reach agreement on ‘European Covid certificate’
HEALTH: Rome summit will establish principles to guide global response to future pandemics
HEALTH: EU Member States support continuation of pooled procurement of vaccines for coming years
SOCIAL: SURE instrument—new European Commission returns to financial markets
COHESION: REACT-EU, European Commission approves modification of French and Czech operational programmes
EXTERNAL ACTION
TRADE: EU Member States are close to an agreement on international procurement instrument
TRADE: EU ministers fail to agree on conclusions of EU trade policy review
TRADE: EU Council is optimistic about future relationship with US and work at WTO
TRADE: MEPs ask Ngozi Okonjo-Iweala about fisheries subsidies and health and environmental issues in trade
UKRAINE: Stefanishyna warns about Carbon Border Adjustment Mechanism
ECONOMY - FINANCE - BUSINESS
ECOFIN: EU’s Finance Ministers and top bankers will discuss fiscal and tax policies to stimulate recovery and ecological transition
COMPETITION: banks fined €371 million for cartel in European government bond trading
STATE AID: Commission approves €22.5 billion Polish scheme to support offshore wind farms
EUROPEAN PARLIAMENT PLENARY
MIGRATION: European Parliament criticises “abusive” use of informal cooperation agreements with third countries by European Commission and Member States
MIGRATION: European Parliament calls on Commission to open more channels for legal labour migration into EU
CHINA: European Parliament warns it will not consider investment agreement as long as Chinese sanctions are in place
CAUCASUS: European Parliament calls on Azerbaijan to release detained Armenian civilians and military personnel
DEVELOPMENT: European Parliament calls for renewed EU commitment to step up global fight against AIDS
ENVIRONMENT: parliament calls for stronger EU rules on corporate environmental responsibility
ENVIRONMENT: European Parliament improves revision of ‘Aarhus’ Regulation for public access to justice in line with international law
ENVIRONMENT: Parliament calls for better protection of environmental defenders
FUNDAMENTAL RIGHTS: MEPs speak out against EU’s lack of commitment to inclusion of Romani communities
SOCIAL: European Parliament calls for European national insurance number
DIGITAL: European Parliament calls for clear guidelines on transfer of personal data to US
DIGITAL: European Parliament in favour of resolution to improve use of AI for European consumers
CYBERSECURITY: European Parliament adopts regulation establishing future European Cybersecurity Competence Centre
ECONOMY: European Parliament calls for more transparency on content of EU countries’ recovery plans
REGIONS: European Parliament supports extension of French exemption scheme for outermost regions
COURT OF JUSTICE OF THE EU
RULE OF LAW: Advocate General considers Polish practice of seconding judges to higher courts to be contrary to EU law
SECTORAL POLICIES
INDUSTRY: European Commission in motion to promote industrial alliances
CIRCULAR ECONOMY: European Court of Auditors points to flaws in collection of electronic waste in EU
CLIMATE: fifty stakeholders call on EU keep road transport and buildings out of ETS
AGRICULTURE: several NGOs criticise lack of ambition in draft compromise on CAP
COUNCIL OF EUROPE
ECHR: Lockdown does not constitute deprivation of liberty, according to European Court of Human Rights
ADDENDUM
ENERGY: clarification of European Parliament vote on hydrogen report
NEWS BRIEFS
AGRICULTURE: ‘Farm to Fork’ strategy—30 professional associations call for comprehensive impact assessment
DEFENCE: Robert Brieger to become the new Chairman of EU Military Committee
FINANCE: Natasha Cazenave, new Executive Director of ESMA
SEAS: emerging blue economy sectors ready to play a leading role in EU’s green transition