The Federal Reserve has fined BNP Paribas $246m (£188m) for the firm's unsafe and unsound practices in the foreign exchange (FX) markets.
The US central bank levied the fine after finding deficiencies in BNP Paribas's oversight of, and internal controls over FX traders who buy and sell US dollars and foreign currencies for the firm's own accounts and for customers.
BNP Paribas failed to detect and address that its traders used electronic chatrooms to communicate with competitors about their trading positions.
The Federal Reserve's order requires BNP Paribas to improve its senior management oversight and controls relating to the firm's FX trading.
This follows the announcement by BNP Paribas of a settlement with the New York State Department of Financial Services on the 24 May relating to the same issue.
Currency rigging has led to billions in fines being paid in both the City of London and in the United States.
The Federal Reserve alone has levied more than $2bn (£1.53bn) in fines against seven banks tied to the scandal. Barclays, the Royal Bank of Scotland, Deutsche Bank, UBS and JP Morgan Chase have all been caught up in the scandal.
The US central bank acknowledged the BNP Paribas Group wide remediation initiatives and the full co-operation of BNP Paribas in the investigation.
In a statement BNP Paribas stated: "The conduct which led to this settlement occurred during the period from 2007 to 2013.
"Since this time, BNP Paribas has proactively implemented extensive measures to strengthen its systems of control and compliance.
"The Group has increased resources and staff dedicated to these functions, conducted extensive staff training and launched a new Code of Conduct which applies to all staff."
In January 2017, the Federal Reserve Board permanently prohibited former BNP Paribas trader Jason Katz from participating in the banking industry for his manipulation of FX prices.
The board is also prohibiting the firm from re-employing individuals who were involved in the conduct underlying this enforcement action.
In a statement on its website the bank said: "BNP Paribas deeply regrets the past misconduct which was a clear breach of the high standards on which the Group operates."
