Banks reportedly preparing to settle EU FX probe
Barclays, Citigroup, HSBC, JP Morgan, RBS, UBS and two other institutions set to pay out billions of euros, according to Financial Times
Eight major global banks are said to be ready to negotiate financial settlements with the European Commission, as part of an ongoing probe into allegations they created a cartel to manipulate the foreign exchange market, according to a report by the Financial Times.
Barclays, Citigroup, HSBC, JP Morgan, RBS, UBS and two other institutions are set to pay out billions of euros to Brussels over the next few months, people close to the case told the FT.
The European Union probe into FX-rigging
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