BNP Paribas

An ex-Pimco guy is doing croque monsieurs. A BNP risk manager is about to leave for crepes. What will you contribute? If Boeuf Bourguignon is out of your comfort zone, tear up some pieces of a baguette and smear some chocolate on them and call it a day. Read more »

  • 02 Jul 2014 at 2:42 PM
  • Banks

U.S. Maybe Kinda Taking It Out A Little Hard On Foreigners

The French government may have been onto something when whining that the U.S. was being très unfair to BNP Paribas. Read more »

  • 01 Jul 2014 at 12:59 PM

Some World Cup Games More Important Than Others

US-based BNP Paribas employees learned that the hard way. Read more »

  • 25 Jun 2014 at 11:56 AM
  • Banks

BNP Paribas To Keep An Eye On Its U.S. Operations From U.S.

That and about $9 billion should get the Treasury Department off its back. Read more »

France’s finance minister said on Sunday that talks between BNP Paribas (BNPP.PA) and U.S. authorities over a potential fine for the bank for breaching U.S. sanctions had progressed towards a “more equitable” level. U.S. authorities – five of them in all, including the New York financial regulator – are investigating whether BNP evaded U.S. sanctions against Iran and other countries between 2002 and 2009…”What is being criticized by the U.S. authorities is the violation of a strictly American law. The same acts committed in France in euros would not have been reprehensible,” [Michel] Sapin said. “That said, it is the American law, it should have been respected.” [Reuters, related]

BNP’s Teheran office can stay open for a little longer. Read more »

For the past number of weeks, we’ve heard about how the U.S. wants BNP Paribas to plead guilty to violating U.S. sanctions against certain countries like Iran, and pay upwards of $10 billion to show they really mean it. We’ve also heard about how a lot of people in France– like its President, for one– are none too pleased about the idea of such a high fine, and are working hard (though mostly in vain) to get the number down. And while $10 billion does sound like a lot of money, a new report reveals that 1. It could’ve been a lot worse and 2. At this time, BNP might not wanna press its luck. Read more »