Barclays, Royal Bank of Scotland and HSBC have paid a combined total of almost $1bn (£650m) in the US to settle claims they rigged forex markets, leaving the way open for British investors to begin legal action against the banks.
To end civil claims in New York brought by global companies, pension funds and hedge funds, Barclays will pay $384m, RBS $255m and HSBC $285m, the Teleraph reported. American bank Goldman Sachs has agreed a sum of $135m, while French lender BNP Paribas will settle for $115m. The agreements are separate from proceedings led by US and British regulators, including the Serious Fraud Office. A total of nine banks have now settled forex-rigging claims in the US for a total of more than $2bn.
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