New York State will receive about $3.59 billion as part of a settlement with BNP Paribas for violating United States economic sanctions.
The bank will send $2.24 billion to the New York State Department of Financial Services and $2.2 billion to the Manhattan District Attorney's Office, a spokesman for the office said. Of this sum, the state will receive $1.35 billion and the city will get $447 million.
The state’s portion of the settlement is equal to 5.7% of the current fiscal year’s anticipated general fund receipts. The state did not count on receiving the bank's money for the budget.
According to the governor's office, the bank is paying a total of $8.9 billion as part of a settlement for illegal transactions with clients subject to sanctions, including Sudan, Iran and Cuba.