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Barclays, Citi, HSBC and four other banks face fines for forex rigging

In contrast, Credit Suisse, which has previously said it did not find any evidence of misconduct, is fighting the EU antitrust charge

Forex reserves

Barclays, Citigroup , HSBC, JPMorgan and three other banks are set to be fined by EU antitrust regulators in coming weeks for rigging the multi-trillion dollar foreign exchange market, two people familiar with the matter said. The other three lenders are Royal Bank of Scotland, UBS and a small Japanese bank, the people said. The banks will see a 10 per cent cut in their fines for admitting wrongdoing. In contrast, Credit Suisse, which has previously said it did not find any evidence of misconduct, is fighting the EU antitrust charge. It is not clear if the European Commission will be ...