Op risk data: BNP faces €150m bill from mortgage loan sales

ORX News
10 Mar 2020

Tweet
Facebook
LinkedIn
Save this article
Send to
Print this page

Jump to In focus: staff payouts | Spotlight: coronavirus

February’s largest operational risk loss saw a Paris court order BNP Paribas to pay up to €152.2 million ($165.3 million) for concealing the financial risks of real estate loans offered between March 2008 and December 2009.

The loans were denominated in Swiss francs but repayable in euros, and the contracts were criticised by magistrates as “particularly unintelligible”. Borrowers struggled to understand the inherent exchange rate risk

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to print this content. Please contact info[email protected] to find out more.

You are currently unable to copy this content. Please contact [email protected] to find out more.

You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/

If you would like to purchase additional rights please email [email protected]

You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/

If you would like to purchase additional rights please email [email protected]

You already have an account with us*. Sign in below to continue.