Barclays 'not ready' to reach currency-rigging settlement

Barclays Canary Wharf

Barclays, the bank that was first to settle a probe for benchmark interest-rate manipulation in 2012, said it’s not ready to reach an agreement with regulators in a global currency-rigging investigation.

Bloomberg News reports that five banks, including British rivals Royal Bank of Scotland and HSBC, agreed to pay about $3.3bn to settle a probe into the manipulation of foreign-exchange rates. Barclays had been slated to be part of that group, people familiar with the matter have said.

'After discussions with other regulators and authorities, we have concluded that it’s in the interests of the company to seek a more general coordinated settlement', the bank said in an e-mailed statement today.

To access the complete Bloomberg News article hit the link below:

Barclays Says Not Ready to Settle in Global FX Probe

Banks to Pay $3.3 Billion in FX-Manipulation Probe

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