Report - US authorities, BNP fail to agree on fine

A Billion Dollars

Latest negotiations between U.S. authorities and BNP Paribas on the level of fine it could pay for breaching U.S. sanctions have failed to produce an agreement, sources familiar with the matter told Reuters on Wednesday.

The news agency reports that one of the sources said a proposal by BNP which would have seen it pay less than $10bn had been turned down.

French Finance Minister Michel Sapin said at the weekend that recent talks between France's biggest lender and U.S. authorities had progressed towards a 'more equitable' level from previously mooted penalties of anything up to $16bn.

But bank management who attended a board meeting on Monday were less optimistic about the settlement than they had been the previous week, one of the sources said.

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US authorities, BNP fail to agree on fine - sources

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