US may seek more than $6.3b in BNP settlement: Bloomberg

(Reuters) - US authorities are seeking more than US$5 billion (S$6.3 billion) from BNP Paribas SA to settle federal and state investigations into the French lender's dealings with sanctioned countries, Bloomberg reported, citing a person familiar with the matter.

Discussions about the penalty amount are continuing and the final amount could change, the report said.

BNP Paribas, France's biggest bank, was in talks with US authorities to pay more than US$3 billion to resolve probes into whether it violated US sanctions on Iran, Sudan and other countries, Reuters reported last week citing people familiar with the matter.

The bank warned last month it faced fines in excess of US$1.1 billion over the matter, but declined to provide a specific number.

The probes are being conducted by the USJustice Department, the US Attorney's office in Manhattan, the US Treasury Department, the Manhattan District Attorney's office, and the New York Department of Financial Services.

The settlement could be announced as early as next month, the Bloomberg report said.

BNP Paribas and the US authorities were not immediately available for comment outside regular business hours.

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