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Banking Services (Industry Group)

UPDATE 1-EU lifts ban on eight banks barred from bond sales

(Updates with context, UniCredit) BRUSSELS, June 18 (Reuters) – Eight banks previously excluded from syndicated debt sales backing the European Commission’s up to 800-billion-euro ($950.7 billion) COVID-19 recovery fund will be allowed to take part in future issues, the EU executive said on Friday. 

UPDATE 3-HSBC takes $2.3 bln hit with sale of French retail bank

* HSBC ends long struggle to exit France retail * Cerberus snapping up European banks * My Money to resurrect former CCF brand * HSBC expects $2.3 billion hit from sale (Adds HSBC to take $2.3 billion loss on French retail sale) By Lawrence White and Gwénaëlle Barzic LONDON/PARIS, June 18 (Reuters) – HSBC has agreed to sell its French retail bank to Cerberus-backed My Money Group in a deal which will mean a loss of around $2.3 billion for the British bank but end its long struggle to dispose of the business as it focuses on Asia.