French watchdog: BNP has agreed to $8.9 bln fine, one-year clearing suspension in U.S.

PARIS, June 30 Mon Jun 30, 2014 5:00pm EDT

PARIS, June 30 (Reuters) - BNP Paribas has agreed with U.S. authorities to pay a total fine of $8.9 billion over sanctions busting, France's financial watchdog ACPR said in a statement on Monday.

The watchdog said the agreement also included the suspension of the capacity of the bank's New York branch to clear certain transactions in the United States for one year starting Jan 1, 2015, a specific compliance program and a restriction on the employment of certain individuals.

(Reporting by Ingrid Melander and Maya Nikolaeva)