BNP Paribas enters US retail space via Bank of the West
BNP Paribas is offering market-linked certificates of deposit to US retail investors for the first time through subsidiary Bank of the West
BNP Paribas has marked its entry into the broad US retail market by offering market-linked certificates of deposit (MLCDs) issued by its subsidiary Bank of the West.
The French bank is meeting the high demand for certificates of deposit, which are covered up to the level of $250,000 by the US government's Federal Deposit Insurance Corporation (FDIC) scheme.
"The market for MLCDs has been growing in the US, partly as a result of the crisis," says Serge Troyanovsky, director, head of retail
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