PARIS (Reuters) - French banks BNP Paribas (BNP) and Credit Agricole are conducting internal inquiries into U.S. dollar payments to check whether they are potentially in breach of American sanctions, the banks said on Monday.
Neither would confirm whether the inquiries concerned U.S. sanctions against Iran, which have led to investigations at rival banks such as UniCredit and RBS and have already cost Standard Chartered a hefty fine.
"We are conducting an internal review," said a spokesman for BNP, citing a disclosure from its 2011 annual report that said the probe concerned "certain U.S. dollar payments involving countries, persons and entities that could be subject to U.S. sanctions", adding that the bank had spoken to American regulators.
Credit Agricole, which used similar wording in its own annual report, is also reviewing payments linked to countries and entities potentially subject to U.S. sanctions, a spokeswoman said. "The review is ongoing," she said.
Societe Generale, France's No.2 listed bank, does not refer to any such review in its own annual report. The bank stopped all operations with Iranian entities from February 2012 and has returned its banking license to the central bank of Iran, a spokeswoman said. (Reporting by Lionel Laurent and Christian Plumb; Editing by David Goodman)
Vox "Smart Take" Pushes Gun Confiscation. Here's What Would Happen If They Tried. - Bearing Arms - 2nd Amendment, Gun Confiscation
Small But Honest Columnist Again Forced to Correct Highest-Rated Show on Cable TV | Human Events
Larry Kudlow - Donald Trump: A 21st Century Protectionist Herbert Hoover
Mollie Hemingway amazed how quickly Planned Parenthood's self-funded report made headlines
Ann Coulter - Small But Honest Columnist Again Forced to Correct Highest-Rated Show on Cable TV
Donald Trump Is Not a Racist. Don't Go Back to 2005, Republicans. | RedState
Boehner reportedly tells Colorado donors: Ted Cruz is a “jackass” - Hot Air