The Traderszone Network

Published in TZ Latest News 7 October, 2014 by The TZ Newswire Staff

Exclusive: BNP asks other banks for help as dollar clearing ban nears

LONDON/NEW YORK (Reuters) – BNP Paribas has asked at least three banks to help it clear certain energy transactions in U.S. The French bank made the requests to JP Morgan Chase and Co, Bank of America Merrill Lynch and Citi in July and August, according to sources who asked not to be named because talks are confidential. Four sources with banks and trading houses in Europe and the United States said JP Morgan decided against accepting the request but other sources said talks were still going on. BNP Paribas, JPMorgan, BAML and Citi declined to comment.