Barclays chief says more money needed to settle FX probe

Antony Jenkins Barclays

The $783.70m Barclays set aside to settle allegations of rigging the foreign exchange market will not be enough, the bank's CEO Antony Jenkins said in an interview to Sky News.

"My expectation is it will be a bigger number than that," Jenkins replied when asked whether the amount would be sufficient.

Reuters reports that the bank pulled out of a settlement last month because of complications with regulator Department of Financial Services, people familiar with the matter said.

However, Jenkins was hopeful of settling the probe with regulators "in the course of next year", Sky News reported.

To access the complete Reuters article hit the link below:

Barclays' CEO: funds set aside to settle forex probe not enough - report

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