UBS and another four banks are facing a combined bill of more than $5 billion in a settlement with U.S. and British authorities over FX manipulation.
UBS said it would also pay a $203 million penalty and plead guilty to criminal charge with the U.S. Department of Justice, but that relates to manipulation of Libor benchmark interest rates. The DoJ terminated a 2012 non-prosecution agreement with UBS over Libor because of its forex misconduct.
In November, six of the world’s biggest banks were fined $4.3 billion for alleged manipulation of forex rates.
Here is a breakdown of penalties on the banks for forex manipulation:
UBS UBSN.VX: $1.141 billion
May: $342 million to the U.S. Federal Reserve
November: $1.018 billion ($358 million to FCA, $310 million to CFTC and $350 million to OCC)
November: $1.012 billion ($352 million to FCA, $310 million to CFTC and $350 million to OCC)
Royal Bank of Scotland (RBS.L)
November: $634 million ($344 million to FCA and $290 million to CFTC)
Settlement expected on Wednesday
November: $618 million ($343 million to FCA and $275 million).
Bank of America (BAC.N)
November: $250 million (all OCC)
FCA = Britain’s Financial Conduct Authority
CFTC = U.S. Commodity Futures Trading Commission
OCC = U.S. Office of the Comptroller of the Currency
DOJ = U.S. Department of Justice
Fed = U.S. Federal Reserve
Finma = Switzerland’s Finma
(Compiled by Steve Slater and Jamie McGeever. Editing by Jane Merriman)