10 April 1998: France ready for the euro: Selection of Primary Dealers

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The French Primary Dealers have just been selected by Dominique Strauss-Kahn, French Minister of the Economy, Finance and Industry, as part of a competitive and open procedure. The appointed institutions will assist the French government with its issuing policy for the next three years, and will therefore play a key part in the transition of French government securities to the euro.

Selected for their ability to place, manage and strengthen the liquidity of the French government debt market, these institutions will enable the Treasury to arrange optimum placement for government securities at minimum cost. These institutions are:

ABN Amro Fixed income France CDC Marchés
Banque CPR Deutsche Bank France S.A.
Banque d'Escompte Dresdner Kleinwort Benson
Banque Paribas Goldman Sachs Paris Inc. et Cie
Banque Lehman Brothers S.A. HSBC James Capel Contrepartie
Barclays Capital J.P. Morgan et Cie S.A.
BNP Finance Merrill Lynch Finance S.A.
Crédit Agricole Indosuez Morgan Stanley S.A.
Crédit Commercial de France Société Générale
Crédit Lyonnais Union Européenne de CIC

Thus, the Primary Dealers' group includes 10 French institutions and 10 non-resident institutions, reflecting the diversity of players on the French government securities market today, and on the single euro bond market tomorrow.

Dominique Strauss-Kahn is pleased to welcome two new members in the group of Primary Dealers, Barclays Capital and HSBC James Capel Contrepartie, who will help strengthen the position of French government securities as a benchmark on the euro bond market.

Their commitment, as well as the continued presence of many leading institutions on the international bond markets, reveal the unflagging attraction of the quality "label" attached to French Primary Dealers.