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UK: Bank trio agree $924 million forex-rigging bill

By  |  October 22, 2015

Three of Britain’s biggest banks were hit with a $924 million bill for foreign exchange?-rigging on Thursday, adding to the spiralling cost of one of the industry’s biggest trading scandals.

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    Sky News reported that ?Barclays, HSBC and Royal Bank of Scotland agreed the figures during a US federal court hearing?.

    ?Barclays agreed to pay $384 million, HSBC $285 million and RBS $255 million, according to people familiar with the settlements.

    The French bank BNP Paribas and Goldman Sachs, the Wall Street giant, agreed to pay $249 million between them.

    The outcome is the latest in a string of claims brought on behalf of major multinational companies, pension funds and hedge funds which alleged that they were penalised by efforts to rig foreign exchange markets.

    Full content: Sky News

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