BNP Paribas' Capital Treatment for Axa IM Deal Opposed by ECB
The European Central Bank has taken a negative view on applying a rule that might have reduced the impact on BNP Paribas SA 's capital from its planned acquisition of Axa SA 's asset manager, people familiar with the matter said.
In opposing the use of the regulation, known as the Danish Compromise, the ECB's banking supervision arm wants to ensure equal treatment across the industry, the people said, asking not to be identified discussing internal deliberations. The watchdog recently issued a negative opinion on a similar but unrelated deal in Italy.
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