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UK banks to pay compensation for forex manipulations.

Global Banking News-October 23, 2015--UK banks to pay compensation for forex manipulations

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Global Banking News - 23 October 2015

Three of the UK's largest banks are to pay compensation to clients for foreign exchange manipulations.

Barclays Plc (LSE: BARC), HSBC Holdings (LSE: HSBA) and Royal Bank of Scotland (LSE: RBS) have agreed to pay GBP600m as compensation.

The banks, along with banks in the US, were accused of forex manipulation, which turned out to be unfavourable to MNCs, pension funds and hedge funds.

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Publication:Global Banking News (GBN)
Date:Oct 23, 2015
Words:111
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