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Thursday, 21 May 2015 - 12:02
Record fines for currency market fix
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Five of the world's largest banks are to pay fines totalling 5.7 billion dollars for charges including manipulating the foreign exchange market.

Four of the banks - JPMorgan, Barclays, Citigroup and RBS - have agreed to plead guilty to US criminal charges.

The fifth, UBS, will plead guilty to rigging benchmark interest rates.

Barclays was fined the most, 2.4 billion dollars, as it did not join other banks in November to settle investigations by UK, US and Swiss regulators.

Barclays is also sacking eight employees involved in the scheme.

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