3 ms·

Transactions in USD must be cleared in NYC; the US' position is that banks which don't play ball re: money laundering lose access to the US financial system.

• fla 11y ago
  Which basically means they would lose their US banking liscense and coudn't trade in USD anymore. What would be interessting would be to know how some banks could accept these consequences and still survive.
  • gadders 11y ago
    BNP did for a few things.