DOJ reportedly seeks $10B from BNP Paribas

|About: BNP Paribas ADR (BNPQY)|By:, SA News Editor

At issue are charges BNP Paribas (BNPQY -4%) for years evaded U.S. sanctions against Iran and other sweetheart countries, and the $10B the WSJ reports as being sought by the DOJ would represent one of the largest-ever fines against a bank.

BNP reportedly is looking to pay far less than that, and a figure of around $8B has been tossed about, but sources close to the bank deny offering an amount that high. Prosecutors also want a guilty plea and point to the muted market reaction over Credit Suisse doing so earlier this month.

Another - maybe more important - sticking point in negotiations is whether BNP will temporarily lose the ability to move money in and out of the U.S. BNP executives note the bank has many businesses - including its investment bank and corporate-finance unit - which would suffer from this restriction, possibly destabilizing the overall bank.