31st Oct 2014 14:05
LONDON (Alliance News) - HSBC Holdings PLC is expected to set aside around GBP400 million to cover the costs of the investigation into the suspected manipulation foreign exchange markets when it posts its third quarter results on Monday, the Financial Times reported Friday.
HSBC declined to comment on the story, but its charge is expected to be similar in size to the GBP400 million set aside Friday by the Royal Bank of Scotland Group PLC, the FT said, citing people familiar with the matter.
Citigroup Inc this week set aside USD600 million to cover the cost of the investigations, while Barclays PLC put aside GBP500 million.
http://www.ft.com/cms/s/0/ce493b68-60fd-11e4-894b-00144feabdc0.html?ftcamp=published_links%2Frss%2Fcompanies%2Ffeed%2F%2Fproduct&siteedition=uk#axzz3Hild1mS5
By Sam Unsted; [email protected]; @SamUAtAlliance
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