UK banks boost FX fines war chest

Barclays and RBS prepare for DoJ decision


Barclays and Royal Bank of Scotland have increased their provisions for litigation costs in the ongoing foreign exchange manipulation investigation by £800 million and £334 million, respectively.

The additions bring the total set aside for potential fines and litigation related to FX to £2.05 billion for Barclays and £704 million for RBS, which has already paid out more than £400 million in regulatory fines in the US and the UK.

Barclays has yet to settle with regulators and it is still involved

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