June 30, 2014 / 9:07 PM / 4 years ago

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

PARIS (Reuters) - BNP Paribas (BNPP.PA) 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

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