That’s a report from DealBook – BNP Paribas Expected to Plead Guilty and Pay $8.9 Billion Fine.
Leaks to the newspaper say the plea deal could be announced on Monday, June 30. Final details will be worked out this weekend.
Looks like most of the transfers were from 2002 through 2009, but some carried on into 2012.
Sanctions are starting to shape up as follows:
$8.9B penalty. That is up slightly from recent rumors.
Around a dozen employees will leave the bank. That is down from recent rumors of around 30.
Guilty plea, presumably one criminal count.
Ban on dollar clearing. Article says the timeframe could be up to six months. Specific units of BNP will be affected, particularly the oil and gas unit. Possibly a few others. Will be phased in over a few months. That is longer than recent rumors with more details on how the ban would be implemented.
The Wall Street Journal also reports settlement is expected Monday. Their article: BNP Plans to Slash Dividend, Sell Multibillion Euro Bond Next Week.