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The program, run by the US Department of Agriculture, covered losses for American commodities exporters in cases where their import partner failed to make a payment.
Last month, BNP Paribas pleaded guilty and agreed to pay $8.9 billion in a settlement with US authorities for violating US economic sanctions.
From 1998 to 2005, BNP Paribas knowingly guaranteed such a credit for companies known to be operating both the export and import side of a trade and, in some cases, never making a payment or shipment, according to a statement from the Justice Department.
Beginning in April 2005, BNP Paribas submitted claims to the Agriculture Department for losses resulting from a Mexican importer owned by the same company as the American exporter.
A vice president of BNP Paribas, Jerry Cruz, pleaded guilty in 2012 to receiving bribes from the exporters.
