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French banks sue ECB over capital demands

Dec. 21, 2016 2:59 AM ETBNP Paribas SA (BNPQF) StockBNPQY, SCGLY, CRARY, BNPQF, CRARF, SCGLF, BNPZYBy: Yoel Minkoff, SA News Editor
  • Top French lenders are suing the ECB to get an exemption from holding capital against certain deposits parked with state-owned fund CDC.
  • Lawsuits have been brought forward over the past month by BNP Paribas (OTCQX:BNPQF), Societe Generale (OTCPK:SCGLY), Credit Agricole (OTCPK:CRARY) and three other banks.
  • It's the first major case by top eurozone lenders, pointing to tensions between the banks and the monetary authority.

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