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Bank of America and BNP in asset transfer

NEW YORK, Feb. 21 (UPI) -- Bank of America has agreed to transfer to French bank BNP Paribas about $2 billion in some 2,000 non-U.S. client assets.

The value of the deal, which must be approved by various government agencies, was not immediately disclosed.

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"This transaction gives us the opportunity to double our presence in the United States for the servicing of non-resident wealth management clients," a spokesman for the French bank said Tuesday.

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