LONDON A group of international banks will get this week billion fines for manipulation of exchange rates. It reported Bloomberg and the British newspaper The Sunday Times.
Sources surrounding the case reported on Bloomberg that Wednesday’s settlement to be reached. This is according to insiders to British banks Barclays and RBS, the US Citigroup and JPMorgan Chase, and UBS of Switzerland. The Sunday Times writes that Barclays and RBS get a total fine of around 3 billion pounds. US banks would have to pay about $ 1 billion each. Banks would also further plead guilty to the fraud.
About the fine for UBS was nothing reported. That bank was working according to the sources first in the investigation of the US and British authorities for the currency fraud.
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