20th Oct 2014 05:37
LONDON (Alliance News) - Barclays PLC, HSBC Holdings PLC and Royal Bank of Scotland Group PLC are to set aside hundreds of millions of pounds in the coming few weeks, Sky News reported on Friday, as the banks prepare to settle with regulators following a probe into foreign exchange manipulation.
According to the report, which cited insiders, at least one of the banks is likely to set aside a "much higher figure" than its expected fine from the UK's Financial Conduct Authority, amid continuing talks with authorities in the US.
Insiders said the banks will set aside well over GBP500 million all together when they report third-quarter results at the end of October, according to the report.
http://news.sky.com/story/1355317/uk-banks-to-take-forex-fines-hit-within-weeks
By Samuel Agini; [email protected]; @samuelagini
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