Seven banks will be fined by European regulators



[ad_1]

Banks Barclays, Citigroup, HSBC, JPMorgan And three other credit institutions Will be fined by EU law Regulators over the coming weeks On charges of manipulating exchange rates for several trillion dollars, reuters reported.

The other three creditors are Royal Bank of Scotland, UBS and a small Japanese bank, and the banks will see 10% reduction in fines For admissions, noted uneducated sources of the agency.

In contrast, The Swiss Bank Credit Suisse, Who previously reported finding no illegal conduct, continues to challenge EU charges Anti-trust regulator. It's not clear, though The European Commission will be able to complete the fee on timeParticipate in the big Swiss bank over the next few weeks.

The European regulator, who has passed in the past, has managed to work Finances up to 10% of global turnover The financial institution concerned with the US. There. Antitrust rules declined to comment on Reuters information.

Banks Barclays, Citigroup, JPMorgan, Royal Bank of Scotland and HSBC also declined to comment.

It is possible for the tail to settle its decisions on the banks cited for several weeks, but not on one day, the Reuters sources reported.

Under Similar Alliances in the United States, Barclays, BNP Paribas, Citigroup, JPMorgan, Scotland's Royal Bank and UBS were fined with a total amount exceeding $ 2.8 billion.

US $ There. Regulators say that The manipulation of exchange rates has been achieved by so-called "chats rooms" (For online exchange of information between individual bank dealers) with names such as "The Cartel", "Mafia" and "The Bandits Club".

[ad_2]
Source link