FIVE of the largest banks in the world are to pay fines totalling £2 billion after regulatory authorities revealed the rigging of foreign exchange markets (forex).
These latest fines go on top of those already due after the Libor scandal.
RBS is one bank involved in the settlement. The others are Citibank, HSBC, JPMorgan Chase and UBS.
UK Chancellor George Osborne insisted the fines will be used for “wider public good”.
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