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Welcome to the pulse. We are live in london. Im guy johnson. I am francine lacqua. Lets get to our top stories. 3. 3 billion. Regular dinners regulators banks 3. 3 five billion dollars to settle a probe into Exchange Rate rigging. Great to have you on the program. Give us a sense of how much this was actually expected. We published of 2013 that outlined problems with the benchmark, the focus of the fines today, and suggested that traders were regularly communicating ahead of these fixes. They were aligning their positions and attempting to manipulate the fixes. Here is more detail if anything is more egregious than anticipated, interested banks to work would Work Together to rig benchmarks to maximize their profits. It is the same old story in that respect. One name that really stuck , that was being there barclays. What is going on with barclays . It is a bit of a moving feast ....
That says that Fund Managers benchmark. Eight the how much of europe they have over the normal recommendation about 4 . Of that is the lowest exposure of europe in 15 months. Equity markets are opening lower. There is one story that finally has arrived and we have the numbers. It is the Foreign Exchange investigation which bloomberg started. It is a day of reconciliation in terms of the numbers. 3. 3 billion the u. K. , switzerland, and the united states. It could be up to 5 billion and globally, 40 billion. The markets are a little lower. Rbs saying how disappointed he was with the charge levied against rbs. They are fully protected and fully provisioned. Ubs up three quarters of one cent bumping the equity market trend. The whole rate litter can only charge them. The cftc and the fda. The americans and the swiss along with the u. K. , two quarters of a billion dollars. Tha ....
Hello and welcome to countdown. I am mark barton. I am anna edwards. And i am manus cranny. 20 of news on the banking sector. The regulator in the u. S. The first to break its cover on this given the details of who they are going to be finding. They have ordered five banks to pay more than 1. 4 billion in an fx probe. Citibank, hsbc, jpmorgan, rbs, and ubs will pay a fine. Not said anything about any conversation they may or may not have had with barclays on this. The banks have said they will cease and desist for further violations, according to the cftc. Some fx traders and banks court knitted coordinated their trading with others. Banks failed to assess risk with cftc is goingthe into detail and word from the u. K. As well. We have got to figure the figure is 1. 1 billion pounds. Before the release a few minutes ago, analysts said that the six , barclays, citigroup, hsbc, royal bank of scotland, ubs, barclays has not been mentioned today. That the fines would total 1. 5 billion. If ....