Manipulation banks agree settlement with US Justice department
JP Morgan, Barclays, RBS, Citigroup, UBS, BOA will all pay fines to the tune of €5.8bn.
Five of the banks, JPM, BarC, RBS, Citi & UBS have been fined for directly rigging markets while BOA is being hit for unsafe and unsound practices. UBS had already struck a bargain early doors in the investigation and so were excused from being investigated fully
That brings the total fines of the five banks to around $9bn
Was it worth it?
