Items Tagged with 'France'


  • DOJ, BNP Paribas reach $8.8B settlement

    BNPP might not be alone
    The U.S. Department of Justice announced an $8.8 billion settlement with BNP Paribas to settle charges that the French bank hid $30 billion in transactions that violated U.S. sanctions. And BNP Paribas might not be the only large financial institution at fault.
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  • Mon Dieu! U.S. Bond Insurers Sink French Banks

    We know there's a joke in this, or perhaps poetic justice, but the fact that credit woes emanating from the U.S. are continuing to wreak havoc on France's largest banks must be a never-ending source of frustration for a country well known for its love/hate relationship with the States.
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  • Vive Les Subprime Credit Crunch: BNP Paribas Freezes Funds

    Woes in US mortgage markets reached into France today, with BNP Paribas SA joining the likes of Bear Stearns in halting three investment funds due to what it said was difficulty in valuing their holdings. Per Bloomberg: BNP Paribas SA, France's biggest bank, halted withdrawals from three investment funds because it couldn't "fairly" value their holdings after U.S. subprime mortgage losses roiled credit markets.
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