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EU Clears Eight of the 10 Banks Barred From Landmark Bond Sales

  • NatWest, Natixis still engaging with EU on remedial measures
  • Ten lenders were blocked from the syndication on Tuesday
Barclays Plc Headquarters And Bank Branches As Company Considers Dublin For Their EU Base
Photographer: Luke MacGregor/Bloomberg

Eight of the 10 banks blocked from participating in the European Union’s pandemic recovery bond sales this week have been cleared for future ones, reopening a lucrative line of business from one of the world’s largest new issuers.

Firms including JPMorgan Chase & Co., Citigroup Inc., Bank of America Corp. and Barclays Plc had been prevented from participating in Tuesday’s 20 billion euro ($24 billion) sale of bonds tied to the financing of the EU’s economic recovery due to previous breaches of antitrust rules. The eight banks now cleared were informed Friday that they would be eligible as potential syndicate members to help conduct future sales.