BNP Paribas agrees Greek debt provisions with auditors

French bank had been criticised over the way it accounted for a writedown on its exposure to Greek government debt

Tuesday 30 August 2011 at 10:16

BNP Paribas said on Tuesday that provisions it made against losses on its Greek sovereign debt holdings were agreed with auditors and authorities.

The comments came in response to a press report that the International Accounting Standards Board was unhappy with the level of writedowns made by the French bank and some other players.