The Traderszone Network

Published in TZ Latest News 28 April, 2015 by The TZ Newswire Staff

Barclays takes extra $1.2 billion hit for potential FX settlements

Barclays (BARC.L) set aside another 800 million pounds ($1.2 billion) on Wednesday to cover potential settlements for alleged foreign exchange manipulation, dragging its profits down by a quarter. Barclays said it had now set aside 2.05 billion pounds to cover any FX settlement, after the extra provision to reflect “developments with certain authorities” since it last reported in March. Barclays pulled out of a settlement between U.S. and UK authorities and six rival banks in November because it had not reached a deal with New York’s regulator.

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