Arab Today, arab today us euro banks near deals on libor forex rigging
Last Updated : GMT 06:51:35
Arab Today, arab today
Arab Today, arab today

US, Euro banks near deals on Libor, forex rigging

Arab Today, arab today

Arab Today, arab today US, Euro banks near deals on Libor, forex rigging

British currency
New York - AFP

Large American and European banks are nearing settlement deals with British regulators over rigging interest rates and manipulating the foreign exchange market, sources told AFP Tuesday.
The overall settlement for charges of illegally manipulating the London Interbank Offered Rate (Libor) would be billions of dollars.
The scale of penalties is similar in the talks over manipulation of forex rates, said people familiar with the matter.
Britain's Financial Conduct Authority is holding talks with British bank Barclays, Deutsche Bank and US banks JPMorgan Chase, Citigroup, Bank of America and Bank of New York Mellon on the Libor manipulation issue.
That settlement could come in the next few weeks, with banks paying penalties corresponding to their share of the market, sources said.
Some banks could end up paying only a few hundred million dollars.
Libor, the rate banks charge each other for short-term loans, underpins an estimated $300 trillion of transactions worldwide.
Leading banks, including Barclays, Lloyds, Deutsche Bank and UBS, have previously paid fines totalling billions of dollars in the US, Britain and the European Union.
On Tuesday, officials with Britain's Serious Fraud Office said a senior banker pleaded guilty before a London court to fraud linked to Libor in the first criminal conviction arising from the case.
In the foreign exchange case, British regulators are in talks with Citigroup, JPMorgan, UBS, Barclays, RBS and HSBC to settle allegations the banks conspired to manipulate currency trades, people familiar with the matter said.
Regulators are probing whether currency traders from the banks used online chat forums and instant messages for manipulating a market with some $5.3 trillion in transactions per day.
Citigroup is expected to pay the highest fine, according to sources. Citigroup declined comment.
Banks involved in the foreign exchange settlement talks have suspended or fired traders in the wake of probes launched by multiple regulators.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today us euro banks near deals on libor forex rigging Arab Today, arab today us euro banks near deals on libor forex rigging

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today us euro banks near deals on libor forex rigging Arab Today, arab today us euro banks near deals on libor forex rigging

 



Arab Today, arab today Designer prepared new set of ornaments

GMT 02:45 2017 Wednesday ,28 June

Designer prepared new set of ornaments
Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan
Arab Today, arab today
Arab Today, arab today

GMT 08:23 2017 Saturday ,24 June

Actress Feryal Yussef received new drama offers

GMT 09:49 2017 Tuesday ,02 May

Girl barred from Malaysia chess competition

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse

GMT 16:25 2017 Sunday ,04 June

“Suhoor” is basic meal for fasting

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 11:09 2017 Sunday ,25 June

HUAWEI P10 the ‘guru’ of portrait shots

GMT 17:59 2017 Monday ,12 June

Designer Rania Adel reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday