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France’s BNP Paribas may strong-armed into pleading guilty for facilitating payments in U.S. dollars to blacklisted countries
France’s BNP Paribas may strong-armed into pleading guilty for facilitating payments in U.S. dollars to blacklisted countries
(CHARLES PLATIAU/Reuters)

U.S. regulators bare their teeth, with BNP next up for a mauling

BNP Paribas is the latest pawn in the United States’ fight to indict. France’s largest listed bank warned on April 30 that a future fine for violating U.S. sanctions on pariah countries could be “far in excess” of its $1.1-billion (U.S.) in provisions. But things could get nastier still.

Post-HSBC, U.S. regulators are keen to bin the idea that the preservation of financial stability makes large banks “too big to jail.” In 2012 the U.K. bank was handed a record $1.9-billion fine for Mexican money laundering, but received a deferred prosecution agreement rather than an indictment. BNP, which is next in the queue along, potentially, with Credit Suisse, could be asked to actually plead guilty, according to the New York Times.