US seeking more than $10 penalty from BNP Paribas

BNP Paribas SA (BNP) fell the most in 15 months in Paris trading after a person familiar with the matter said U.S. authorities are seeking more than $10 billion to settle federal and state investigations into dealings with sanctioned countries including Sudan and Iran. BNP Paribas, the largest French bank, has fallen 12 percent this year, compared with a 3.5 percent increase in the Bloomberg Europe Banks and Financial Services Index. A final deal between BNP and the U.S. is probably weeks away, said the person, who asked not to be identified because the talks aren't public. "Beyond the uncertainty related to the potential financial settlement, the key issues remain the type of potential charges and impact on BNP's operational capability," Kinner Lakhani, a London-based analyst at Citigroup Inc., said in a note.

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