On the bright side, banks are thisclose to putting that whole rate-manipulation thing behind them. On the less bright side, they’ll be leaving quite a few ducats behind with it.
Big banks in the U.S. and Europe are stockpiling billions to pay for a potential trans-Atlantic settlement of allegations that they manipulated foreign-exchange rates as talks heat up with regulators on both continents….
One person said the direction of the talks was changing by the hour.
Big banks brace for penalties in probes [MarketWatch]