Brussels, 15/06/2005 (Agence Europe) - The European Commission has authorised the proposed joint venture between the Caisses d'Epargne and the CréditAgricole groups. The Caisses d'Epargne Group is an all-purpose bank offering banking and financial products and services to individuals, companies, local authorities and financial institutions. The Crédit Agricole Group is also an all-purpose bank operating in all areas of banking, but also in insurance. The joint venture will safeguard financial instruments and managing funds for institutional investors (banks, insurance companies, pension funds, etc.). The Commission looked at the possible effects the merger could have on institutional investors resident in France because both Groups' activities are concentrated there. It concluded that the proposed merger would not significantly restrict competition on the markets for safeguarding and managing funds on behalf of institutional investors, including those resident in France and that there would be a sufficient number of credible alternatives, some of which were bigger than the joint venture in question.