Barclays to set aside more funds to settle claims.

BANKING AND CREDIT NEWS-December 18, 2014-Barclays to set aside more funds to settle claims


British financial services provider Barclays' chief executive Antony Jenkins has said that the GBP500m that the bank has set aside to settle allegations that its traders helped rig foreign exchange markets is not going to be enough, Sky News revealed on Wednesday.

Barclays did not take part in a deal last month in which six banks, including HSBC, Royal Bank of Scotland (RBS) and JP Morgan Chase, were fined GBP2.7bn by British and American regulators to settle allegations of currency rigging. Jenkins commented that while ongoing regulatory issues were difficult to comment on the bank hoped to reach a...

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