BNP CEO: French banks should pay only two thirds of bailout contribution

French banks should pay only 10 billion euros ($12.5 billion) of the 16 billion they are being asked to contribute to a proposed EU bailout fund, BNP Paribas chief executive Jean-Laurent Bonnafé said in an interview in Le Figaro on Saturday. The size of contributions to the 55-billion-euro fund should be decided "as a function of their risk profile", he was quoted as saying, noting that European Central Bank stress tests showed France had "one of the most solid" banking sectors in Europe. BNP, France's largest bank, this week said it returned to net profit in the third quarter, rebounding from an $8.9 billion U.S. Under the terms of the settlement, BNP must also clear all dollar transactions in New York and use correspondent banks throughout 2015 for oil- and gas-related business.

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