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N100:ACA, Sep 25, 09:52 UTC

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Saturday, September 15


News

USD: 'Selectively Stronger, For A Bit Longer': Here Is The Breakdown - Credit Agricole

ACA

USD: ‘Selectively Stronger, For A Bit Longer’: Here Is The Breakdown – Credit Agricole. Credit Agricole Research updates its USD outlook and flags some upside risks to some of its 3-month USD G10 forecasts. “In particular, USD could continue to do well against currencies that are vulnerable to any further escalation in US protectionism and whose central banks have a neutral to dovish outlook: in our view NZD and, to a lesser degree, AUD should be the key G10 underperformers. Over the long term, CACIB maintains the view that the risks to USD should remain on the downside. For lots more FX trades from major banks, sign up to eFXplus.

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Friday, September 14


News

MOVES-Croasdell joins Credit Agricole for MTNs

ACA

LONDON, Sept 14 (IFR) - Toby Croasdell has joined Credit Agricole as head of medium-term notes for Europe, the Middle East and Africa in the MTNs and private placements group. Based in London, Croasdell will report globally to Benjamin Lamberg, global head of MTNs and private placements and head of credit for Asia. Croasdell will report locally to Jean-Luc Lamarque, global head of syndicate. Croasdell had previously spent more than 15 years at Barclays, where he worked in fixed income syndication as global head of MTNs, structured notes and local currencies, according to his LinkedIn profile.

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Thursday, September 13


News

Credit Agricole quietly hired Barclays' ex-head of EMEA macro sales in NY

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He's the former head of EMEA senior relationship management and ex-co head of global macro products who left Barclays earlier this year after the British bank hired Filippo Zorzoli from Bank of America Merrill Lynch in June 2017. Insiders say Zafar will be based at Credit Agricole's New York office, where he's expected to become head of North American macro sales. Neither Credit Agricole nor Zafar responded to a request to comment on the move, but Zafar is already on Credit Agricole's internal directory - although he has yet to manifest himself at CA on his FINRA Registration. Nonetheless, Credit Agricole seems to taking advantage of senior macro talent leaving other banks. Credit Agricole's enthusiasm for macro sales people comes after rival French bank Natixis yesterday announced plans to sell some capital intensive retail lending units to its parent company and focus on the solutions side of its global markets business and building a 'multi-boutique' model in M&A.

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Wednesday, September 05


News

Creval investor Credit Agricole backs bank's current top managers

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Creval investor Credit Agricole backs bank's current top managers. MILAN (Reuters) - French banking group Credit Agricole (CAGR.PA) backs the current top managers of Creval (PCVI.MI), the mid-sized Italian bank in which it owns a 5 percent stake, the chairman of Credit Agricole Italy said on Wednesday. "We've just struck an insurance deal with Creval in full accordance with its top mangers. Our assessment is totally positive," Ariberto Fassati told reporters on the sideline of a shareholder meeting of property group Beni Stabili (BNSI.MI). Denis Dumont, another leading Creval shareholder, is seeking to replace the bank's current top management and a shareholder meeting has been called on Oct. 12 to vote over Dumont's request to appoint a new board.

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Wednesday, August 29


News

EUR/USD: Have We Seen The Lows In EUR/USD? Where To Target? – Credit Agricole

ACA EURUSD

EUR/USD is sliding after reaching new monthly highs yesterday. What’s next? Credit Agricole CIB Research discusses EUR/USD outlook and thinks that the lows are already in for the year with a scope for targeting 1.21 by year-end. Indeed, CACIB’s ECB strategist expects the bank to bring its deposit rate back to zero by the end of 2019. As a comparison, the rates markets are pricing in c. 15bps of rate hikes over the same period. If our expectations are confirmed, this may suggest that EUR may actually gain some rate advantage vs USD next year especially if the FOMC were to hit the “pause button” after policy rates reach 3%. In turn, renewed widening of the 2Y EUR-USD rate spread could argue for stronger, not weaker EUR/USD.

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Monday, August 20


News

ECB fines Credit Agricole and subsidiaries

ACA EURAUD +4 more ACA EURAUD EURCHF EURGBP EURCAD EURUSD

(Reuters) - The European Central Bank has fined French lender Credit Agricole (CAGR.PA) and several subsidiaries for breaching its rules on how certain capital items should be classified, the ECB said on Monday. An ECB statement said Credit Agricole was fined 4.3 million euros ($4.92 million), Credit Agricole Corporate and Investment Bank was fined 300,000 euros and CA Consumer Finance was fined 200,000 euros. "The penalty has been imposed in respect of the bank classifying capital instruments as CET1 instruments during three consecutive quarterly reporting periods and two consecutive public disclosures in 2015 and 2016 without having obtained the prior permission of the competent authority," the ECB said. The French bank acknowledged it had been notified of the fines by the ECB and was weighing up the possibility of an appeal, a spokeswoman said on Monday.

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Thursday, August 09


News

EUR: Additional Position Squaring Related Upside Risk Likely N-Term – Credit Agricole

ACA

The euro is looking for a new direction amid trade headlines and after the dust settled from the central bank decisions. Both stabilizing sentiments as related to China as well as the most recent ECB research making a case of accelerating wage growth to the benefit of domestic price pressure has been driving the latest development. With speculative oriented investors still holding on to a sizeable EUR short position, additional position squaring related upside risk seems likely,” CACIB argues. For lots more FX trades from major banks, sign up to eFXplus. Yohay Elam :Yohay Elam – Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I’ve accumulated.

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Friday, August 03


News

French bank Credit Agricole posts higher Q2 net profit above forecasts

ACA

UPDATE 1-French bank Credit Agricole posts higher Q2 net profit above forecasts. The bank's overall revenue rose 9.8 percent to 5.17 billion euros, also beating an average analyst forecast for revenues of 4.92 billion euros. Like its French rivals Societe Generale and BNP Paribas which reported results earlier this week, the listed arm of the Credit Agricole mutual banking group benefited from solid results at its foreign operations. Its corporate and investment banking unit's performance also stood out compared to its rivals as Credit Agricole booked two 'jumbo deals' in merger and acquisitions, featuring one major acquisition by engineering company Altran and another takeover by U.S. oil servicing company McDermott.

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Wednesday, August 01


News

CREDIT AGRICOLE SA : 2018 CAPITAL INCREASE RESERVED FOR EMPLOYEES

ACA

Crédit Agricole S.A.`s capital increase reserved for employees, for which the subscription period ran from 20 June to 3 July 2018, was fully completed on 1 August 2018. Almost 19,000 Crédit Agricole Group employees from France and 14 other countries subscribed for a total amount of €135.5 million. Employees were offered a Classic investment where the subscription price was discounted by 20% compared to the Crédit Agricole share price. This capital increase created 13,802,586 new shares, bringing the total number of shares comprising Crédit Agricole S.A.`s capital to 2,866,437,156.

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Tuesday, July 31


News

MOVES-Thimont returns to Credit Agricole

ACA

LONDON, July 30 (IFR) - George Thimont has left Mizuho and is returning to Credit Agricole to work on the bank's sovereign, supranational and agency (SSA) bond syndicate desk, according to market sources. Thimont left Credit Agricole in April 2014 after only a year at the French bank working as an SSA debt capital markets banker. He joined Mizuho in July 2014 according to his LinkedIn profile on SSA, emerging markets and FIG syndicate. Thimont will fill the gap left by Raffaele De Vitis who moved to the bank's Paris office in June into a senior coverage banker for financial institutions.

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