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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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No Suspicious Activity Ahead of RBA Decisions, Investigation Continues

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ASIC: No Suspicious Activity Ahead of RBA Decisions, Investigation Continues – Profit & Loss (free story)

The Australian Securities and Investment Commission (ASIC) says it believes that fluctuations in the Australian dollar ahead of the Reserve Bank of Australia’s monetary policy announcements in February, March and April are the result of “normal market operations in an environment of lower liquidity”.


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Barclays Boosts Expected Bill for Foreign Exchange Fines to More Than $3 Billion

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Barclays Boosts Expected Bill for Foreign Exchange Fines to More Than $3 Billion – Wall Street Journal (subscription)
Barclays boosted its expected bill for foreign exchange fines to more than £2 billion on Wednesday and said it is working hard to settle investigations with global regulators.

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