French banks face US sanctions investigations

US authorities are investigating French banks Societe Generale and Credit Agricole for alleged breaches of US sanctions. The Wall Street Journal reported that BNP Paribas, France’s largest listed bank, had set aside US $1.1 billion to cover possible penalties arising from similar allegations. A number of European banks, including Barclays, ABN Amro, Standard Chartered and Credit Suisse, have reached settlements...