Six top banks fined for forex, Libor rigging

NEW YORK: US and British regulators hit six leading global banks with fines of nearly $6 billion Wednesday for rigging the global foreign exchange and Libor interest rate markets to bolster their profits.

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Here are the total fines per bank. The regulators which set the fines are Britain’s Financial Conduct Authority, the US Department of Justice, the Federal Reserve, the US Commodities Futures Trading Commission and the New York State Department of Financial Services.

Barclays Bank                         $2.38 billion

Citigroup                                 $1.27 billion

JPMorgan Chase                    $892 million

Royal Bank of Scotland          $669 million

UBS                                          $545 million

Bank of America                     $205 million

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Six top banks fined for forex, Libor rigging

by Web Desk