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The French minister of the Economy, Finances and industry has given approval to a new team of primary dealers (SVTs), as listed by the Head of the Treasury, also chairman of Agency France Tresor on recommendations by a Selecting Committee. The new team currently enlists twenty one banks, compared with nineteen in April, 1999. There are seven French banks and fourteen foreign banks: five in the Euro zone and nine outside it.
The selected banks have been selected for a two-year period, in compliance with a Framework for their activity which goes into force today and the implementation of which will be regularly checked.
The following SVTs have been given a new term: ABN Amro, Barclays Capital, BNP-Paribas, CDC Ixis, Crédit agricole Indosuez, Crédit Industriel et Commercial, Crédit Lyonnais, Deutsche Bank, Dresdner Kleinwort Wasserstein, Goldman Sachs, HSBC-CCF, J.P. Morgan, Lehman Brothers, Merrill Lynch, Morgan Stanley, Natexis Banque Populaire, Salomon Brothers and Société Générale.
Three more banks have become SVT with the recent selection: Commerzbank, Unicredit Banca Mobiliare (UBM) and UBS Warburg.
By the end of the year, the newly selected SVTs will discuss the development of their operations as primary dealers with Agency France Tresor.
The new selection enlarges the span of countries where SVTs originate from (it now includes Italy and Switzerland). This is a sign of the fame of Paris as a financial centre and of the attractiveness of French sovereign debt, in the Euro zone and beyond. Moreover, thanks to the newcomers, the Euro zone (outside France) is better represented among the SVTs.
Contact : François Naudin
Information Services Officer,
Agency France Trésor
01 44 87 71 35