BNP Paribas lays out staff script to reassure clients

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BNP Paribas is telling clients that it’s making every effort to ensure their business won’t be disrupted if the bank’s U.S. dollar-clearing operations are halted under a settlement of alleged sanctions violations.

According to an internal memo dated June 2 and seen by Bloomberg News, bankers should tell clients that the U.S. 'is still clearly a strategic market' for the bank and 'BNP Paribas is doing everything it can to guarantee that impending decisions won’t have a negative impact on our clients and counterparties and won’t hinder their business activities'.

U.S. authorities are seeking as much as $10bn to settle allegations that BNP Paribas transferred funds for clients in violation of sanctions against countries including Sudan and Iran, a person with knowledge of the probe has said. Prosecutors are also pressuring the bank to plead guilty and its dollar-clearing business may also be temporarily suspended.

The three-page 'elements of oral communication' lays out a script of nine questions and answers to help executives and corporate bankers to answer questions clients may have about the investigation.

To access the complete Bloomberg News article hit the link below:

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