Domestic banks lose ground in France's AFT debt agency rankings

By Maya Nikolaeva PARIS, Feb 17 (Reuters) - French banks lost ground in the2016 ranking of the most active financial institutions onprimary and secondary government debt markets, according topublic debt management agency Agence France Tresor (AFT). Banks in Europe have retreated from primary dealing ingovernment bonds, saying regulatory constraints are adding tothe costs involved. BNP Paribas held on to top place in 2016 but lostground to HSBC and JP Morgan in the primary andsecondary markets rankings published on Friday. Societe Generale and Credit Agricolealso slipped -- the first time since 2013 that France's threebiggest banks had not occupied the top three places in the AFT'soverall, general rankings. Primary dealers are appointed by national authorities to buybonds in auctions and distribute them to investors in thesecondary market. The reward for banks that participate inauctions is a mandate for a syndicated deal where they will earnfees. Below is the ranking, published on http://www.aft.gouv.fr General ranking 2016 2015 1. BNP Paribas 1. BNP Paribas 2. HSBC 2. Societe Generale 3. Societe Generale 3. Credit Agricole 4. JP Morgan 4. Barclays 5. Credit Agricole 5. JP Morgan 6. Barclays 5. ex HSBC 7. Morgan Stanley 7. Morgan Stanley 8. Citigroup 8. Natixis 9. Natixis 9. Nomura 10. NatWest Markets 10. Royal Bank of Scotland 10. Ex Citigroup Primary market 2015 1. HSBC 1. BNP Paribas 2. BNP Paribas 2. Morgan Stanley 3. Morgan Stanley 3. Credit Agricole 4. Societe Generale 4. Societe Generale 5. JP Morgan 5. HSBC 6. Barclays 6. Barclays 7. Citigroup 7. Natixis 8. Credit Agricole 8. JP Morgan 9. Natixis 9. Royal Bank of Scotland 10. NatWest Markets 10. Citigroup Secondary market 2015 1. JP Morgan 1. BNP Paribas 2. BNP Paribas 2. Societe Generale 3. Societe Generale 3. JP Morgan 4. Credit Agricole 4. Credit Agricole 5. HSBC 5. Barclays 6. Barclays 6. Nomura 7. Nomura 7. HSBC 8. Citigroup 8. Morgan Stanley 9. NatWest Markets 9. Citigroup 10. Morgan Stanley 10. Royal Bank of Scotland Quality of services 2015 1. Societe Generale 1. Societe Generale 2. BNP Paribas 2. BNP Paribas 3. Credit Agricole 3. Barclays 4. Barclays 4. Credit Agricole 5. HSBC 5. Natixis 6. Natixis 6. HSBC 7. JP Morgan 7. JP Morgan 8. Morgan Stanley 7. Ex Morgan Stanley 9. Goldman Sachs 9 Goldman Sachs 10. Citigroup 10 Royal Bank of Scotland 10.ex Citigroup (Reporting by Maya Nikolaeva; Editing by Ruth Pitchford)