The European Commission announced that it has closed proceedings brought against all 13 investment banks (BoA Merrill Lynch, Barclays, Bear Stearns, BNP Paribas, Citigroup, Credit Suisse, Deutsche Bank, Goldman Sachs, HSBC, JP Morgan, Morgan Stanley, Royal Bank of Scotland and UBS) involved in an investigation into alleged anti-competitive practices in the credit default swaps market. The Commission has closed the proceedings following a thorough analysis of all information received from the parties, concluding that the evidence was not sufficiently conclusive to confirm the Commission's concerns with regards to the 13 investment banks. The Commission notes that this closure decision does not prejudge the outcome of the Commission's investigation regarding Markit and ISDA, which is ongoing.