The Traderszone Network

Published in TZ Latest News 30 May, 2014 by The TZ Newswire Staff

US seeking more than $10 penalty from BNP Paribas

BNP Paribas SA (BNP) fell the most in 15 months in Paris trading after a person familiar with the matter said U.S. authorities are seeking more than $10 billion to settle federal and state investigations into dealings with sanctioned countries including Sudan and Iran. BNP Paribas, the largest French bank, has fallen 12 percent this year, compared with a 3.5 percent increase in the Bloomberg Europe Banks and Financial Services Index. A final deal between BNP and the U.S. is probably weeks away, said the person, who asked not to be identified because the talks aren’t public.

read more