Earlier on Monday, BNP Paribas pleaded guilty to two criminal charges and agreed to forfeit $8.83 billion, as part of a broad investigation into allegations the French bank violated U.S. sanctions laws.
A lawyer for BNP briefly appeared in New York state court on Monday, to answer one count of falsifying business records, and one count of conspiracy.
One of the prosecutors said BNP engaged in a "long-term, multi-jurisdictional conspiracy" to violate sanctions laws by facilitating transactions involving Sudan, Cuba, and Iran.
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Earlier reports indicated that U.S. authorities planned for this suspension to last up to a year, and that BNP Paribas was able to negotiate a start date of January 2015 so as to have time to make arrangements.
BNP Paribas is France's largest bank by market capitalization.
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—By Reuters. CNBC contributed to this report.