×

BNP Sells Assets to Meet New Capital Rules: Executive

BNP Paribas has been selling assets in order to be compliant with Basel 3 financial regulations by Jan. 1, Paribas North America CEO Everett Schenk told CNBC Thursday.

"That’s required a deleveraging of our balance sheets and reducing our exposure in North America to U.S. dollar assets and modifying some of our strategies and some of our businesses globally," he said.

Since November the company has sold assets in order to comply with the international capital requirements and "right now we're stable going into this next two or three months."

Paribas has been able to make deals despite the uncertainty, he said.

"It's very positive from an issuer point of view" in terms of rates and liquidity, he added. "This is a market to take advantage of... so all of our clients that haven't gone to the market are certainly thinking about it. There was a lot of bank refinancing in the back end and it will continue this year."

Shares of BNP Paribas rose more than 8 percent in Paris Thursday.