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Banks’ Multi-Billion Dollar FX Settlements Delayed

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Banks’ Multi-Billion Dollar FX Settlements Delayed – Financial Times (subscription)
The latest multi-billion dollar round of settlements between banks and regulators for rigging foreign exchange markets has been delayed by about a week, people familiar with the situation said. Barclays, Royal Bank of Scotland, JP Morgan Chase, Citigroup and UBS were expected to be fined collectively more than $6 billion today, with most of the fines going to the US Department of Justice.

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Citi Ready to Plead Guilty to FX Antitrust Charge?

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Citi Ready to Plead Guilty to FX Antitrust Charge? – Profit & Loss (free story)
Citi could be ready to plead guilty to an antitrust charge in order to help resolve one of the ongoing FX lawsuits against the bank.

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UK Markets Rally as Conservatives Head for Outright Election Win – Reuters

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UK Markets Rally as Conservatives Head for Outright Election Win – Reuters
British financial markets rallied on Friday as election results pointed to a shock outright victory for Prime Minister David Cameron’s Conservative Party, wiping away the uncertainty for investors that a hung parliament had threatened to deliver.

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Future is Fixed Income for JP Morgan, Citi – Wall Street Journal

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Future is Fixed Income for JP Morgan, Citi – Wall Street Journal (subscription)
The three US universal banking giants have largely stuck with their fixed income trading desks, despite poor returns and a constant flow of litigation. But according to research from Alliance Bernstein, the price of commitment will vary. Bernstein has taken a look at how fixed income, currency and commodities trading affects the revenue streams of Bank of America, Citi and JP Morgan.
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