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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.

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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