The Paris-listed lender has agreed a settlement with US authorities surrounding a misconduct surrounding the forex market.

BNP Paribas yesterday announced it has reached a settlement with the US Federal Reserve around misconduct by the bank in the foreign exchange market. As part of the agreement, the Paris-listed bank will pay a fine to the US of $246 million.

The fine is covered by existing provisions, BNP Paribas said in a statement.  

The saga concerns claims that say traders at different firms used online chat rooms to share information about currency bids without adequate oversight from their banks.

Yesterday's agreement follows the announcement by BNP Paribas of a settlement with the New York State Department of Financial Services on the 24th May relating to the same issue, it said.

The Fed has acknowledged steps taken by the bank and how it fully co-operated with an investigation into the matter, BNP Paribas continued.

"The conduct which led to this settlement occurred during the period from 2007 to 2013. Since this time, BNP Paribas has proactively implemented extensive measures to strengthen its systems of control and compliance. The group has increased resources and staff dedicated to these functions, conducted extensive staff training and launched a new code of conduct which applies to all staff," it said. The bank added it "deeply regrets the past misconduct".