Op risk data: BNP faces €150m bill from mortgage loan sales
Also: Maybank, ING and MUFG hit by $300m commodities trading fraud. Data by ORX News
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February’s largest operational risk loss saw a Paris court order BNP Paribas to pay up to €152.2 million ($165.3 million) for concealing the financial risks of real estate loans offered between March 2008 and December 2009.
The loans were denominated in Swiss francs but repayable in euros, and the contracts were criticised by magistrates as “particularly unintelligible”. Borrowers struggled to understand the inherent exchange rate risk baked
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